# EDGAR Filing Document

**Accession Number:** 0000764624
**File Stem:** 0001752724-25-155395
**Filing Date:** 2025-6
**Character Count:** 481293
**Document Hash:** 21904ec3d21c0b0105001eff0555fe0a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-155395.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-155395

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20250731

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04254
- **FILM NUMBER:** 251072460

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

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

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

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

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

## Series and Classes Contracts Data

### Western Asset Income Fund (Series ID: S000008972)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000024372 | Class A      | SDSAX           |
| C000024374 | Class C      | LWSIX           |
| C000024375 | Class I      | SDSYX           |
| C000081533 | Class C1     | SDSIX           |
| C000118995 | Class IS     | WAGIX           |

## Nport-Ex

Schedule of Investments (unaudited)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity <br>Date<br>| &nbsp;&nbsp; Face <br>Amount†<br>| Value |
| **Corporate Bonds & Notes — 35.2%** | **Corporate Bonds & Notes — 35.2%** | **Corporate Bonds & Notes — 35.2%** | **Corporate Bonds & Notes — 35.2%** | **Corporate Bonds & Notes — 35.2%** |
| **Communication Services — 6.4%** | **Communication Services — 6.4%** | **Communication Services — 6.4%** | **Communication Services — 6.4%** | **Communication Services — 6.4%** |
| *Diversified Telecommunication Services — 1.3%* | *Diversified Telecommunication Services — 1.3%* | *Diversified Telecommunication Services — 1.3%* | *Diversified Telecommunication Services — 1.3%* | *Diversified Telecommunication Services — 1.3%* |
| &nbsp;&nbsp;&nbsp; Altice Financing SA, Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 2440000<br>| &nbsp;&nbsp;&nbsp; $1802554<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France Holding SA, Senior Secured Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 5/15/27 | &nbsp;&nbsp; 2030000<br>| &nbsp;&nbsp;&nbsp; 631512<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 7/15/29 | &nbsp;&nbsp; 2050000<br>| &nbsp;&nbsp;&nbsp; 1675523<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 10/15/29 | &nbsp;&nbsp; 1040000<br>| &nbsp;&nbsp;&nbsp; 852847<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Turk Telekomunikasyon AS, Senior Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 5/20/29 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 933169<br> <sup>(a)</sup><br>|
| *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | &nbsp;&nbsp; *5895605* |
| *Entertainment — 0.3%* | *Entertainment — 0.3%* | *Entertainment — 0.3%* | *Entertainment — 0.3%* | *Entertainment — 0.3%* |
| &nbsp;&nbsp;&nbsp; Allen Media LLC/Allen Media Co-Issuer Inc., Senior Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 1860000<br>| &nbsp;&nbsp;&nbsp; 567300<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; AMC Entertainment Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 483644<br> <sup>(a)</sup><br>|
| *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | &nbsp;&nbsp; *1050944* |
| *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Snap Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 3/1/33 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; 559765<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ziff Davis Inc., Senior Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp; 318519<br> <sup>(a)</sup><br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *878284* |
| *Media — 3.8%* | *Media — 3.8%* | *Media — 3.8%* | *Media — 3.8%* | *Media — 3.8%* |
| &nbsp;&nbsp;&nbsp; AMC Networks Inc., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; 199117<br>|
| &nbsp;&nbsp;&nbsp; AMC Networks Inc., Senior Secured Notes | &nbsp;&nbsp; 10.250% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 154400<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 2/1/31 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 904443<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 8/15/27 | &nbsp;&nbsp; 810000<br>| &nbsp;&nbsp;&nbsp; 788342<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC/DirecTV Financing Co-Obligor Inc., Senior Secured <br> Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp; 379096<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DISH Network Corp., Senior Secured Notes | &nbsp;&nbsp; 11.750% | &nbsp;&nbsp; 11/15/27 | &nbsp;&nbsp; 1430000<br>| &nbsp;&nbsp;&nbsp; 1504165<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes | &nbsp;&nbsp; 10.750% | &nbsp;&nbsp; 11/30/29 | &nbsp;&nbsp; 3346050<br>| &nbsp;&nbsp;&nbsp; 3542171<br>|
| &nbsp;&nbsp;&nbsp; Gray Media Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 5/15/27 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 594040<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Grupo Televisa SAB, Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/13/45 | &nbsp;&nbsp; 940000<br>| &nbsp;&nbsp;&nbsp; 627133<br>|
| &nbsp;&nbsp;&nbsp; iHeartCommunications Inc., Senior Secured Notes | &nbsp;&nbsp; 9.125% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 285000<br>| &nbsp;&nbsp;&nbsp; 221143<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; McClatchy Media Co. LLC, Senior Secured Notes (11.000% Cash or <br> 12.500% PIK) | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/1/31 | &nbsp;&nbsp; 7368653<br>| &nbsp;&nbsp;&nbsp; 7838405<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC, Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 369602<br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *17122057* |
| *Wireless Telecommunication Services — 0.8%* | *Wireless Telecommunication Services — 0.8%* | *Wireless Telecommunication Services — 0.8%* | *Wireless Telecommunication Services — 0.8%* | *Wireless Telecommunication Services — 0.8%* |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 11.750% | &nbsp;&nbsp; 1/31/29 | &nbsp;&nbsp; 2760000<br>| &nbsp;&nbsp;&nbsp; 2611080<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Millicom International Cellular SA, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 3/25/29 | &nbsp;&nbsp; 513000<br>| &nbsp;&nbsp;&nbsp; 507504<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Millicom International Cellular SA, Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 4/27/31 | &nbsp;&nbsp; 682000<br>| &nbsp;&nbsp;&nbsp; 607924<br> <sup>(a)</sup><br>|
| *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | &nbsp;&nbsp; *3726508* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **28673398** |
| **Consumer Discretionary — 5.0%** | **Consumer Discretionary — 5.0%** | **Consumer Discretionary — 5.0%** | **Consumer Discretionary — 5.0%** | **Consumer Discretionary — 5.0%** |
| *Automobile Components — 0.5%* | *Automobile Components — 0.5%* | *Automobile Components — 0.5%* | *Automobile Components — 0.5%* | *Automobile Components — 0.5%* |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 369877<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 4/14/30 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 506702<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 4/23/30 | &nbsp;&nbsp; 160000<br>| &nbsp;&nbsp;&nbsp; 146163<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/23/32 | &nbsp;&nbsp; 1370000<br>| &nbsp;&nbsp;&nbsp; 1203848<br> <sup>(a)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *2226590* |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Automobiles — 0.6%* | *Automobiles — 0.6%* | *Automobiles — 0.6%* | *Automobiles — 0.6%* | *Automobiles — 0.6%* |
| &nbsp;&nbsp;&nbsp; Ford Motor Co., Senior Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 2/12/32 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; $237122<br>|
| &nbsp;&nbsp;&nbsp; PM General Purchaser LLC, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp; 2590000<br>| &nbsp;&nbsp;&nbsp; 2503304<br> <sup>(a)</sup><br>|
| *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | &nbsp;&nbsp; *2740426* |
| *Broadline Retail — 0.5%* | *Broadline Retail — 0.5%* | *Broadline Retail — 0.5%* | *Broadline Retail — 0.5%* | *Broadline Retail — 0.5%* |
| &nbsp;&nbsp;&nbsp; Marks & Spencer PLC, Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 12/1/37 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 989776<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MercadoLibre Inc., Senior Notes | &nbsp;&nbsp; 3.125% | &nbsp;&nbsp; 1/14/31 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 692648<br>|
| &nbsp;&nbsp;&nbsp; Prosus NV, Senior Notes | &nbsp;&nbsp; 3.061% | &nbsp;&nbsp; 7/13/31 | &nbsp;&nbsp; 860000<br>| &nbsp;&nbsp;&nbsp; 742756<br> <sup>(a)</sup><br>|
| *Total Broadline Retail* | *Total Broadline Retail* | *Total Broadline Retail* | *Total Broadline Retail* | &nbsp;&nbsp; *2425180* |
| *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Carriage Services Inc., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp; 331349<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; WW International Inc., Senior Secured Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 1770000<br>| &nbsp;&nbsp;&nbsp; 422527<br> <sup>(a)</sup><br>|
| *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | &nbsp;&nbsp; *753876* |
| *Hotels, Restaurants & Leisure — 2.2%* | *Hotels, Restaurants & Leisure — 2.2%* | *Hotels, Restaurants & Leisure — 2.2%* | *Hotels, Restaurants & Leisure — 2.2%* | *Hotels, Restaurants & Leisure — 2.2%* |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment Inc., Senior Secured Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/15/30 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 153640<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Caesars Entertainment Inc., Senior Secured Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 2/15/32 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 573479<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Carnival Corp., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 870000<br>| &nbsp;&nbsp;&nbsp; 863187<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Full House Resorts Inc., Senior Secured Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 1860000<br>| &nbsp;&nbsp;&nbsp; 1742680<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd., Senior Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 4/17/32 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; 280217<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp; 351765<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Secured Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp; 890725<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 2/1/33 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 662272<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 8/8/25 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 599448<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 5.400% | &nbsp;&nbsp; 8/8/28 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 787629<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 2.850% | &nbsp;&nbsp; 3/8/29 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 475407<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 8/8/31 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp; 179279<br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 662986<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 9.125% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp; 1102136<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; 444020<br> <sup>(a)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *9768870* |
| *Specialty Retail — 0.9%* | *Specialty Retail — 0.9%* | *Specialty Retail — 0.9%* | *Specialty Retail — 0.9%* | *Specialty Retail — 0.9%* |
| &nbsp;&nbsp;&nbsp; Foot Locker Inc., Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 974219<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; 229724<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 1400000<br>| &nbsp;&nbsp;&nbsp; 1122639<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Michaels Cos. Inc., Senior Secured Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 5/1/28 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 315648<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; PetSmart Inc./PetSmart Finance Corp., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 1270000<br>| &nbsp;&nbsp;&nbsp; 1184752<br> <sup>(a)</sup><br>|
| *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *3826982* |
| *Textiles, Apparel & Luxury Goods — 0.1%* | *Textiles, Apparel & Luxury Goods — 0.1%* | *Textiles, Apparel & Luxury Goods — 0.1%* | *Textiles, Apparel & Luxury Goods — 0.1%* | *Textiles, Apparel & Luxury Goods — 0.1%* |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC, Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *498279*<br> <sup>(a)</sup><br>|
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **22240203** |
| **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** |
| *Food Products — 0.3%* | *Food Products — 0.3%* | *Food Products — 0.3%* | *Food Products — 0.3%* | *Food Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; TKC Holdings Inc., Senior Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 840000<br>| &nbsp;&nbsp;&nbsp; 843802<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TKC Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 5/15/28 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 500591<br> <sup>(a)</sup><br>|
| **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **1344393** |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| **Energy — 6.9%** | **Energy — 6.9%** | **Energy — 6.9%** | **Energy — 6.9%** | **Energy — 6.9%** |
| *Energy Equipment & Services — 0.2%* | *Energy Equipment & Services — 0.2%* | *Energy Equipment & Services — 0.2%* | *Energy Equipment & Services — 0.2%* | *Energy Equipment & Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Noble Finance II LLC, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 580000<br>| &nbsp;&nbsp;&nbsp; $553124<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Shelf Drilling Holdings Ltd., Senior Secured Notes | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 402000<br>| &nbsp;&nbsp;&nbsp; 284959<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sunnova Energy Corp., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 9/1/26 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp; 102359<br> <sup>(a)</sup><br>|
| *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | &nbsp;&nbsp; *940442* |
| *Oil, Gas & Consumable Fuels — 6.7%* | *Oil, Gas & Consumable Fuels — 6.7%* | *Oil, Gas & Consumable Fuels — 6.7%* | *Oil, Gas & Consumable Fuels — 6.7%* | *Oil, Gas & Consumable Fuels — 6.7%* |
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 950000<br>| &nbsp;&nbsp;&nbsp; 975056<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chord Energy Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 370288<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC, Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 140000<br>| &nbsp;&nbsp;&nbsp; 141682<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC, Senior Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 227444<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Devon Energy Corp., Senior Notes | &nbsp;&nbsp; 5.600% | &nbsp;&nbsp; 7/15/41 | &nbsp;&nbsp; 1110000<br>| &nbsp;&nbsp;&nbsp; 976364<br>|
| &nbsp;&nbsp;&nbsp; Ecopetrol SA, Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 1/19/36 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp; 721269<br>|
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, Senior Notes | &nbsp;&nbsp; 5.350% | &nbsp;&nbsp; 5/15/45 | &nbsp;&nbsp; 1510000<br>| &nbsp;&nbsp;&nbsp; 1310051<br>|
| &nbsp;&nbsp;&nbsp; EQT Corp., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 6/1/30 | &nbsp;&nbsp; 190000<br>| &nbsp;&nbsp;&nbsp; 204455<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Expand Energy Corp., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp; 1550000<br>| &nbsp;&nbsp;&nbsp; 1455741<br>|
| &nbsp;&nbsp;&nbsp; Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes | &nbsp;&nbsp; 1.750% | &nbsp;&nbsp; 9/30/27 | &nbsp;&nbsp; 160684<br>| &nbsp;&nbsp;&nbsp; 154982<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC, Senior Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 7/15/28 | &nbsp;&nbsp; 240000<br>| &nbsp;&nbsp;&nbsp; 249647<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC, Senior Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 120000<br>| &nbsp;&nbsp;&nbsp; 122963<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Generation Gas Gathering LLC, Senior Secured Notes (3 mo. Term <br> SOFR + 5.750%) | &nbsp;&nbsp; 10.016% | &nbsp;&nbsp; 9/30/29 | &nbsp;&nbsp; 1801622<br>| &nbsp;&nbsp;&nbsp; 1774597<br> <sup>(a)(d)(e)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas Inc., Senior Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 3/1/28 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp; 839977<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 7.150% | &nbsp;&nbsp; 5/15/28 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1197804<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 6.450% | &nbsp;&nbsp; 9/15/36 | &nbsp;&nbsp; 505000<br>| &nbsp;&nbsp;&nbsp; 492470<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 7.950% | &nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp; 2180000<br>| &nbsp;&nbsp;&nbsp; 2361992<br>|
| &nbsp;&nbsp;&nbsp; Pan American Energy LLC, Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 4/30/32 | &nbsp;&nbsp; 580000<br>| &nbsp;&nbsp;&nbsp; 617900<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 4/15/27 | &nbsp;&nbsp; 450000<br>| &nbsp;&nbsp;&nbsp; 458274<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 860000<br>| &nbsp;&nbsp;&nbsp; 866639<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/1/33 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 694943<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Petrobras Global Finance BV, Senior Notes | &nbsp;&nbsp; 6.850% | &nbsp;&nbsp; 6/5/2115 | &nbsp;&nbsp; 690000<br>| &nbsp;&nbsp;&nbsp; 603397<br>|
| &nbsp;&nbsp;&nbsp; Plains All American Pipeline LP, Junior Subordinated Notes (3 mo. Term <br> SOFR + 4.372%) | &nbsp;&nbsp; 8.695% | &nbsp;&nbsp; 5/31/25 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 603182<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Puma International Financing SA, Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 4/25/29 | &nbsp;&nbsp; 830000<br>| &nbsp;&nbsp;&nbsp; 824792<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; QazaqGaz NC JSC, Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 9/26/27 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp; 656466<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Range Resources Corp., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 940000<br>| &nbsp;&nbsp;&nbsp; 963457<br>|
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp; 518815<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 12/31/30 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 139824<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC, Senior Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 1660000<br>| &nbsp;&nbsp;&nbsp; 1662100<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC, Senior Secured Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 8/15/31 | &nbsp;&nbsp; 120000<br>| &nbsp;&nbsp;&nbsp; 107925<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Junior Subordinated Notes (9.000% to 9/30/29 <br> then 5 year Treasury Constant Maturity Rate + 5.440%) | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/30/29 | &nbsp;&nbsp; 1680000<br>| &nbsp;&nbsp;&nbsp; 1445564<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 170000<br>| &nbsp;&nbsp;&nbsp; 176266<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp; 1760000<br>| &nbsp;&nbsp;&nbsp; 1788141<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 5/1/33 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; 266948<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 5/1/35 | &nbsp;&nbsp; 130000<br>| &nbsp;&nbsp;&nbsp; 133603<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vermilion Energy Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 672308<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 5.450% | &nbsp;&nbsp; 4/1/44 | &nbsp;&nbsp; 1790000<br>| &nbsp;&nbsp;&nbsp; 1516202<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* |
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 5.300% | &nbsp;&nbsp; 3/1/48 | &nbsp;&nbsp; 1410000<br>| &nbsp;&nbsp;&nbsp; $1134062<br>|
| &nbsp;&nbsp;&nbsp; YPF SA, Senior Notes | &nbsp;&nbsp; 6.950% | &nbsp;&nbsp; 7/21/27 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 559289<br> <sup>(a)</sup><br>|
| *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | &nbsp;&nbsp; *29986879* |
| **Total Energy** | **Total Energy** | **Total Energy** | **Total Energy** | &nbsp;&nbsp; **30927321** |
| **Financials — 5.5%** | **Financials — 5.5%** | **Financials — 5.5%** | **Financials — 5.5%** | **Financials — 5.5%** |
| *Banks — 2.7%* | *Banks — 2.7%* | *Banks — 2.7%* | *Banks — 2.7%* | *Banks — 2.7%* |
| &nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA, Junior Subordinated Notes (7.500% to <br> 6/27/29 then 10 year Treasury Constant Maturity Rate + 5.470%) | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 6/27/29 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 508627<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia, Junior Subordinated Notes (8.000% to 1/27/29 then 5 <br> year Treasury Constant Maturity Rate + 4.017%) | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 1/27/84 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 615425<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia, Junior Subordinated Notes (8.625% to 10/27/27 then <br> 5 year Treasury Constant Maturity Rate + 4.389%) | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 10/27/82 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 259085<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Junior Subordinated Notes (4.000% to 12/10/25 then 5 year <br> Treasury Constant Maturity Rate + 3.597%) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/10/25 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 598046<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA, Junior Subordinated Notes (4.625% to <br> 12/29/25 then EUR 5 year Swap Rate + 4.098%) | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; 1600000 <br><sup>EUR</sup><br>| &nbsp;&nbsp;&nbsp; 1815458<br> <sup>(c)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Agricole SA, Junior Subordinated Notes (8.125% to 12/23/25 then <br> USD 5 year ICE Swap Rate + 6.185%) | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 12/23/25 | &nbsp;&nbsp; 1320000<br>| &nbsp;&nbsp;&nbsp; 1338046<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA, Senior Notes | &nbsp;&nbsp; 7.800% | &nbsp;&nbsp; 11/28/53 | &nbsp;&nbsp; 2260000<br>| &nbsp;&nbsp;&nbsp; 2552044<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, Junior Subordinated Notes (8.000% to 3/27/30 <br> then 5 year Treasury Constant Maturity Rate + 3.913%) | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 9/27/29 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 616596<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, Junior Subordinated Notes (8.500% to 9/27/28 <br> then U.K. Government Bonds 5 year Note Generic Bid Yield + 5.143%) | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 3/27/28 | &nbsp;&nbsp; 1230000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 1683557<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; NatWest Group PLC, Junior Subordinated Notes (4.500% to 9/30/28 then <br> U.K Government Bonds 5 Year Note Generic Bid Yield + 3.992%) | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 3/31/28 | &nbsp;&nbsp; 1450000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 1756021<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank, Junior Subordinated Notes (8.125% to 10/31/27 <br> then 5 year Treasury Constant Maturity Rate + 4.075%) | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 10/31/82 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 310825<br> <sup>(f)</sup><br>|
| *Total Banks* | *Total Banks* | *Total Banks* | *Total Banks* | &nbsp;&nbsp; *12053730* |
| *Capital Markets — 1.0%* | *Capital Markets — 1.0%* | *Capital Markets — 1.0%* | *Capital Markets — 1.0%* | *Capital Markets — 1.0%* |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao, Senior Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 9/20/31 | &nbsp;&nbsp; 830000<br>| &nbsp;&nbsp;&nbsp; 754213<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Suisse AG AT1 Claim | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 5380000<br>| &nbsp;&nbsp;&nbsp; 0<br> \*<sup>(d)(e)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; State Street Corp., Junior Subordinated Notes (6.700% to 3/15/29 then 5 <br> year Treasury Constant Maturity Rate + 2.613%) | &nbsp;&nbsp; 6.700% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp; 513075<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (7.000% to 8/10/30 then USD 5 <br> year SOFR ICE Swap Rate + 3.077%) | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/10/30 | &nbsp;&nbsp; 960000<br>| &nbsp;&nbsp;&nbsp; 930047<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (7.125% to 2/10/35 then USD 5 <br> year SOFR ICE Swap Rate + 3.179%) | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 8/10/34 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 747928<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (7.750% to 4/12/31 then USD 5 <br> year SOFR ICE Swap Rate + 4.160%) | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 4/12/31 | &nbsp;&nbsp; 1390000<br>| &nbsp;&nbsp;&nbsp; 1425504<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (9.250% to 11/13/28 then 5 <br> year Treasury Constant Maturity Rate + 4.745%) | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 11/13/28 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 411537<br> <sup>(a)(f)(g)</sup><br>|
| *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *4782304* |
| *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* |
| &nbsp;&nbsp;&nbsp; FirstCash Inc., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *344434*<br> <sup>(a)</sup><br>|
| *Financial Services — 1.4%* | *Financial Services — 1.4%* | *Financial Services — 1.4%* | *Financial Services — 1.4%* | *Financial Services — 1.4%* |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes <br> (6.950% to 3/10/30 then 5 year Treasury Constant Maturity Rate + 2.720%) | &nbsp;&nbsp; 6.950% | &nbsp;&nbsp; 3/10/55 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 1055084<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC, Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 950000<br>| &nbsp;&nbsp;&nbsp; 1002055<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Financial Services — continued* | *Financial Services — continued* | *Financial Services — continued* | *Financial Services — continued* | *Financial Services — continued* |
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 4/30/31 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp; $474785<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 11/1/32 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 895231<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; LPL Holdings Inc., Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 730000<br>| &nbsp;&nbsp;&nbsp; 703026<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc., Senior Notes | &nbsp;&nbsp; 3.625% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 1130000<br>| &nbsp;&nbsp;&nbsp; 1052029<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VFH Parent LLC/Valor Co-Issuer Inc., Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 380165<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 5/1/27 | &nbsp;&nbsp; 590000<br>| &nbsp;&nbsp;&nbsp; 573713<br> <sup>(a)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *6136088* |
| *Insurance — 0.1%* | *Insurance — 0.1%* | *Insurance — 0.1%* | *Insurance — 0.1%* | *Insurance — 0.1%* |
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 <br> Somerset Investor 2 LLC, Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *400722*<br> <sup>(a)</sup><br>|
| *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* |
| &nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., Senior <br> Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 378000<br>| &nbsp;&nbsp;&nbsp; 388756<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starwood Property Trust Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 580000<br>| &nbsp;&nbsp;&nbsp; 602199<br> <sup>(a)</sup><br>|
| *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | &nbsp;&nbsp; *990955* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **24708233** |
| **Health Care — 2.1%** | **Health Care — 2.1%** | **Health Care — 2.1%** | **Health Care — 2.1%** | **Health Care — 2.1%** |
| *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; 275679<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Medline Borrower LP/Medline Co-Issuer Inc., Senior Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp; 776856<br> <sup>(a)</sup><br>|
| *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | &nbsp;&nbsp; *1052535* |
| *Health Care Providers & Services — 1.0%* | *Health Care Providers & Services — 1.0%* | *Health Care Providers & Services — 1.0%* | *Health Care Providers & Services — 1.0%* | *Health Care Providers & Services — 1.0%* |
| &nbsp;&nbsp;&nbsp; Akumin Inc., Senior Secured Notes (8.000% Cash or 9.000% PIK) | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 8/1/27 | &nbsp;&nbsp; 1080000<br>| &nbsp;&nbsp;&nbsp; 945767<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 1710000<br>| &nbsp;&nbsp;&nbsp; 1247590<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 110000<br>| &nbsp;&nbsp;&nbsp; 90935<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 10.875% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 1013083<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 8/15/30 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp; 905227<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Renal Care Inc., Senior Secured Notes | &nbsp;&nbsp; 10.625% | &nbsp;&nbsp; 6/28/28 | &nbsp;&nbsp; 602000<br>| &nbsp;&nbsp;&nbsp; 508690<br> <sup>(a)</sup><br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *4711292* |
| *Health Care Technology — 0.2%* | *Health Care Technology — 0.2%* | *Health Care Technology — 0.2%* | *Health Care Technology — 0.2%* | *Health Care Technology — 0.2%* |
| &nbsp;&nbsp;&nbsp; Claritev Corp., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/31/31 | &nbsp;&nbsp; 883887<br>| &nbsp;&nbsp;&nbsp; 593145<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC, Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 12/31/30 | &nbsp;&nbsp; 98392<br>| &nbsp;&nbsp;&nbsp; 76359<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC, Senior Secured Notes (6.500% Cash and <br> 5.000% PIK) | &nbsp;&nbsp; 11.500% | &nbsp;&nbsp; 12/31/30 | &nbsp;&nbsp; 157721<br>| &nbsp;&nbsp;&nbsp; 145283<br> <sup>(a)(b)</sup><br>|
| *Total Health Care Technology* | *Total Health Care Technology* | *Total Health Care Technology* | *Total Health Care Technology* | &nbsp;&nbsp; *814787* |
| *Pharmaceuticals — 0.7%* | *Pharmaceuticals — 0.7%* | *Pharmaceuticals — 0.7%* | *Pharmaceuticals — 0.7%* | *Pharmaceuticals — 0.7%* |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd., Senior Secured Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 4/15/32 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 979834<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Americas Inc., Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 1/31/27 | &nbsp;&nbsp; 180000<br>| &nbsp;&nbsp;&nbsp; 171176<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 100000<br>| &nbsp;&nbsp;&nbsp; 65625<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 5/9/29 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 291848<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 4.100% | &nbsp;&nbsp; 10/1/46 | &nbsp;&nbsp; 2150000<br>| &nbsp;&nbsp;&nbsp; 1521052<br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *3029535* |
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **9608149** |
| **Industrials — 5.0%** | **Industrials — 5.0%** | **Industrials — 5.0%** | **Industrials — 5.0%** | **Industrials — 5.0%** |
| *Aerospace & Defense — 0.5%* | *Aerospace & Defense — 0.5%* | *Aerospace & Defense — 0.5%* | *Aerospace & Defense — 0.5%* | *Aerospace & Defense — 0.5%* |
| &nbsp;&nbsp;&nbsp; Axon Enterprise Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 3/15/30 | &nbsp;&nbsp; 190000<br>| &nbsp;&nbsp;&nbsp; 193782<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Aerospace & Defense — continued* | *Aerospace & Defense — continued* | *Aerospace & Defense — continued* | *Aerospace & Defense — continued* | *Aerospace & Defense — continued* |
| &nbsp;&nbsp;&nbsp; Axon Enterprise Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 190000<br>| &nbsp;&nbsp;&nbsp; $194128<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 540000<br>| &nbsp;&nbsp;&nbsp; 553557<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 6/1/32 | &nbsp;&nbsp; 1210000<br>| &nbsp;&nbsp;&nbsp; 1225707<br> <sup>(a)</sup><br>|
| *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | &nbsp;&nbsp; *2167174* |
| *Building Products — 0.2%* | *Building Products — 0.2%* | *Building Products — 0.2%* | *Building Products — 0.2%* | *Building Products — 0.2%* |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems Inc., Senior Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp; 203000<br>| &nbsp;&nbsp;&nbsp; 206333<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Quikrete Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 553565<br> <sup>(a)</sup><br>|
| *Total Building Products* | *Total Building Products* | *Total Building Products* | *Total Building Products* | &nbsp;&nbsp; *759898* |
| *Commercial Services & Supplies — 1.3%* | *Commercial Services & Supplies — 1.3%* | *Commercial Services & Supplies — 1.3%* | *Commercial Services & Supplies — 1.3%* | *Commercial Services & Supplies — 1.3%* |
| &nbsp;&nbsp;&nbsp; CoreCivic Inc., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 1780000<br>| &nbsp;&nbsp;&nbsp; 1735525<br>|
| &nbsp;&nbsp;&nbsp; GEO Group Inc., Senior Notes | &nbsp;&nbsp; 10.250% | &nbsp;&nbsp; 4/15/31 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 667122<br>|
| &nbsp;&nbsp;&nbsp; GFL Environmental Inc., Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/1/28 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 476757<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; GFL Environmental Inc., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 697303<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co., Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 960000<br>| &nbsp;&nbsp;&nbsp; 915136<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vortex Opco LLC, Senior Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 4/30/30 | &nbsp;&nbsp; 1616406<br>| &nbsp;&nbsp;&nbsp; 270263<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wrangler Holdco Corp., Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 960000<br>| &nbsp;&nbsp;&nbsp; 986446<br> <sup>(a)</sup><br>|
| *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | &nbsp;&nbsp; *5748552* |
| *Construction & Engineering — 0.5%* | *Construction & Engineering — 0.5%* | *Construction & Engineering — 0.5%* | *Construction & Engineering — 0.5%* | *Construction & Engineering — 0.5%* |
| &nbsp;&nbsp;&nbsp; CalAtlantic Group LLC, Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/1/26 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 244667<br>|
| &nbsp;&nbsp;&nbsp; Empire Communities Corp., Senior Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 322393<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp., Senior Notes | &nbsp;&nbsp; 11.875% | &nbsp;&nbsp; 4/30/29 | &nbsp;&nbsp; 1570000<br>| &nbsp;&nbsp;&nbsp; 1695859<br> <sup>(a)</sup><br>|
| *Total Construction & Engineering* | *Total Construction & Engineering* | *Total Construction & Engineering* | *Total Construction & Engineering* | &nbsp;&nbsp; *2262919* |
| *Ground Transportation — 0.2%* | *Ground Transportation — 0.2%* | *Ground Transportation — 0.2%* | *Ground Transportation — 0.2%* | *Ground Transportation — 0.2%* |
| &nbsp;&nbsp;&nbsp; Carriage Purchaser Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 10/15/29 | &nbsp;&nbsp; 921000<br>| &nbsp;&nbsp;&nbsp; 760468<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; XPO Inc., Senior Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; 263064<br> <sup>(a)</sup><br>|
| *Total Ground Transportation* | *Total Ground Transportation* | *Total Ground Transportation* | *Total Ground Transportation* | &nbsp;&nbsp; *1023532* |
| *Machinery — 0.4%* | *Machinery — 0.4%* | *Machinery — 0.4%* | *Machinery — 0.4%* | *Machinery — 0.4%* |
| &nbsp;&nbsp;&nbsp; Titan International Inc., Senior Secured Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 4/30/28 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 862413<br>|
| &nbsp;&nbsp;&nbsp; TK Elevator US Newco Inc., Senior Secured Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/15/27 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 887091<br> <sup>(a)</sup><br>|
| *Total Machinery* | *Total Machinery* | *Total Machinery* | *Total Machinery* | &nbsp;&nbsp; *1749504* |
| *Passenger Airlines — 1.0%* | *Passenger Airlines — 1.0%* | *Passenger Airlines — 1.0%* | *Passenger Airlines — 1.0%* | *Passenger Airlines — 1.0%* |
| &nbsp;&nbsp;&nbsp; American Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 1690000<br>| &nbsp;&nbsp;&nbsp; 1723494<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp./JetBlue Loyalty LP, Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 9/20/31 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 341106<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Latam Airlines Group SA, Senior Secured Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 470400<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes <br> (11.000% Cash or 4.000% PIK and 8.000% Cash) | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 3/6/30 | &nbsp;&nbsp; 1641171<br>| &nbsp;&nbsp;&nbsp; 1301653<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 1/15/26 | &nbsp;&nbsp; 232662<br>| &nbsp;&nbsp;&nbsp; 231877<br>|
| &nbsp;&nbsp;&nbsp; US Airways Pass-Through Trust | &nbsp;&nbsp; 3.950% | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 274431<br>| &nbsp;&nbsp;&nbsp; 273224<br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *4341754* |
| *Trading Companies & Distributors — 0.0%††* | *Trading Companies & Distributors — 0.0%††* | *Trading Companies & Distributors — 0.0%††* | *Trading Companies & Distributors — 0.0%††* | *Trading Companies & Distributors — 0.0%††* |
| &nbsp;&nbsp;&nbsp; United Rentals North America Inc., Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 230000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *233150*<br> <sup>(a)</sup><br>|
| *Transportation Infrastructure — 0.9%* | *Transportation Infrastructure — 0.9%* | *Transportation Infrastructure — 0.9%* | *Transportation Infrastructure — 0.9%* | *Transportation Infrastructure — 0.9%* |
| &nbsp;&nbsp;&nbsp; DP World Ltd., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 9/25/48 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 722334<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gatwick Airport Finance PLC, Senior Secured Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 4/7/26 | &nbsp;&nbsp; 1840000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 2411079<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Transportation Infrastructure — continued* | *Transportation Infrastructure — continued* | *Transportation Infrastructure — continued* | *Transportation Infrastructure — continued* | *Transportation Infrastructure — continued* |
| &nbsp;&nbsp;&nbsp; Railworks Holdings LP/Railworks Rally Inc., Secured Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 11/15/28 | &nbsp;&nbsp; 870000<br>| &nbsp;&nbsp;&nbsp; $872452<br> <sup>(a)</sup><br>|
| *Total Transportation Infrastructure* | *Total Transportation Infrastructure* | *Total Transportation Infrastructure* | *Total Transportation Infrastructure* | &nbsp;&nbsp; *4005865* |
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **22292348** |
| **Information Technology — 0.9%** | **Information Technology — 0.9%** | **Information Technology — 0.9%** | **Information Technology — 0.9%** | **Information Technology — 0.9%** |
| *Communications Equipment — 0.2%* | *Communications Equipment — 0.2%* | *Communications Equipment — 0.2%* | *Communications Equipment — 0.2%* | *Communications Equipment — 0.2%* |
| &nbsp;&nbsp;&nbsp; CommScope LLC, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 12/15/31 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 419765<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CommScope Technologies LLC, Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/15/27 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 130705<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/15/29 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 309117<br> <sup>(a)</sup><br>|
| *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | &nbsp;&nbsp; *859587* |
| *Electronic Equipment, Instruments & Components — 0.1%* | *Electronic Equipment, Instruments & Components — 0.1%* | *Electronic Equipment, Instruments & Components — 0.1%* | *Electronic Equipment, Instruments & Components — 0.1%* | *Electronic Equipment, Instruments & Components — 0.1%* |
| &nbsp;&nbsp;&nbsp; EquipmentShare.com Inc., Secured Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 5/15/32 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *521311*<br> <sup>(a)</sup><br>|
| *IT Services — 0.1%* | *IT Services — 0.1%* | *IT Services — 0.1%* | *IT Services — 0.1%* | *IT Services — 0.1%* |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance Sub Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *365417*<br> <sup>(a)</sup><br>|
| *Semiconductors & Semiconductor Equipment — 0.1%* | *Semiconductors & Semiconductor Equipment — 0.1%* | *Semiconductors & Semiconductor Equipment — 0.1%* | *Semiconductors & Semiconductor Equipment — 0.1%* | *Semiconductors & Semiconductor Equipment — 0.1%* |
| &nbsp;&nbsp;&nbsp; Intel Corp., Senior Notes | &nbsp;&nbsp; 5.700% | &nbsp;&nbsp; 2/10/53 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; *258570*<br>|
| *Software — 0.3%* | *Software — 0.3%* | *Software — 0.3%* | *Software — 0.3%* | *Software — 0.3%* |
| &nbsp;&nbsp;&nbsp; Citrix Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 12/1/27 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; 264300<br>|
| &nbsp;&nbsp;&nbsp; Gen Digital Inc., Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 9/30/30 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 721498<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gen Digital Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/1/33 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 199961<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rackspace Finance LLC, Senior Secured Notes | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 5/15/28 | &nbsp;&nbsp; 184200<br>| &nbsp;&nbsp;&nbsp; 67412<br> <sup>(a)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *1253171* |
| *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* |
| &nbsp;&nbsp;&nbsp; Vericast Corp./Harland Clarke/Checks in the Mail/Valassis Comm/Valassis <br> Direct, Secured Notes (5.000% Cash and 10.000% PIK or 13.000% Cash) | &nbsp;&nbsp; 13.000% | &nbsp;&nbsp; 12/15/30 | &nbsp;&nbsp; 499198<br>| &nbsp;&nbsp;&nbsp;&nbsp; *595294*<br> <sup>(a)(b)</sup><br>|
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **3853350** |
| **Materials — 1.2%** | **Materials — 1.2%** | **Materials — 1.2%** | **Materials — 1.2%** | **Materials — 1.2%** |
| *Chemicals — 0.2%* | *Chemicals — 0.2%* | *Chemicals — 0.2%* | *Chemicals — 0.2%* | *Chemicals — 0.2%* |
| &nbsp;&nbsp;&nbsp; OCP SA, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 5/2/34 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 678040<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sasol Financing USA LLC, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 3/18/31 | &nbsp;&nbsp; 470000<br>| &nbsp;&nbsp;&nbsp; 364319<br>|
| *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | &nbsp;&nbsp; *1042359* |
| *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* |
| &nbsp;&nbsp;&nbsp; ARD Finance SA, Senior Secured Notes (6.500% Cash or 7.250% PIK) | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 6/30/27 | &nbsp;&nbsp; 310813<br>| &nbsp;&nbsp;&nbsp; 10065<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging <br> Finance PLC, Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; 289257<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 8/15/27 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 470322<br> <sup>(a)</sup><br>|
| *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | &nbsp;&nbsp; *769644* |
| *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* |
| &nbsp;&nbsp;&nbsp; Capstone Copper Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/31/33 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; 265488<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 1480000<br>| &nbsp;&nbsp;&nbsp; 1554298<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp; 320000<br>| &nbsp;&nbsp;&nbsp; 324737<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 3/1/33 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 772690<br> <sup>(a)</sup><br>|
| *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | &nbsp;&nbsp; *2917213* |
| *Paper & Forest Products — 0.1%* | *Paper & Forest Products — 0.1%* | *Paper & Forest Products — 0.1%* | *Paper & Forest Products — 0.1%* | *Paper & Forest Products — 0.1%* |
| &nbsp;&nbsp;&nbsp; Suzano Austria GmbH, Senior Notes | &nbsp;&nbsp; 3.125% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 760000<br>| &nbsp;&nbsp;&nbsp; *648515*<br>|
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **5377731** |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** |
| *Diversified REITs — 0.5%* | *Diversified REITs — 0.5%* | *Diversified REITs — 0.5%* | *Diversified REITs — 0.5%* | *Diversified REITs — 0.5%* |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 1265000<br>| &nbsp;&nbsp;&nbsp; $1118565<br>|
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 2/15/32 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 579578<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance Inc./CSL Capital LLC, Senior Secured <br> Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 532000<br>| &nbsp;&nbsp;&nbsp; 565292<br> <sup>(a)</sup><br>|
| *Total Diversified REITs* | *Total Diversified REITs* | *Total Diversified REITs* | *Total Diversified REITs* | &nbsp;&nbsp; *2263435* |
| *Hotel & Resort REITs — 0.0%††* | *Hotel & Resort REITs — 0.0%††* | *Hotel & Resort REITs — 0.0%††* | *Hotel & Resort REITs — 0.0%††* | *Hotel & Resort REITs — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Service Properties Trust, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 12/15/27 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; *266995*<br>|
| *Real Estate Management & Development — 0.1%* | *Real Estate Management & Development — 0.1%* | *Real Estate Management & Development — 0.1%* | *Real Estate Management & Development — 0.1%* | *Real Estate Management & Development — 0.1%* |
| &nbsp;&nbsp;&nbsp; Country Garden Holdings Co. Ltd., Senior Secured Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 1/27/24 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 53,952<br> \*<sup>(c)(i)</sup><br>|
| &nbsp;&nbsp;&nbsp; Five Point Operating Co. LP/Five Point Capital Corp., Senior Notes, Step <br> bond (10.500% to 11/15/25 then 11.000%) | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 310576<br>| &nbsp;&nbsp;&nbsp; 316058<br> <sup>(a)</sup><br>|
| *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | &nbsp;&nbsp; *370010* |
| **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **2900440** |
| **Utilities — 1.3%** | **Utilities — 1.3%** | **Utilities — 1.3%** | **Utilities — 1.3%** | **Utilities — 1.3%** |
| *Electric Utilities — 0.7%* | *Electric Utilities — 0.7%* | *Electric Utilities — 0.7%* | *Electric Utilities — 0.7%* | *Electric Utilities — 0.7%* |
| &nbsp;&nbsp;&nbsp; Alpha Generation LLC, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp; 357001<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Edison International, Junior Subordinated Notes (5.375% to 3/15/26 then 5 <br> year Treasury Constant Maturity Rate + 4.698%) | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 3/9/26 | &nbsp;&nbsp; 740000<br>| &nbsp;&nbsp;&nbsp; 695447<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; NRG Energy Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 11/1/34 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 369714<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Pampa Energia SA, Senior Notes | &nbsp;&nbsp; 7.950% | &nbsp;&nbsp; 9/10/31 | &nbsp;&nbsp; 740000<br>| &nbsp;&nbsp;&nbsp; 753388<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/32 | &nbsp;&nbsp; 1120000<br>| &nbsp;&nbsp;&nbsp; 1160986<br> <sup>(a)</sup><br>|
| *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | &nbsp;&nbsp; *3336536* |
| *Independent Power and Renewable Electricity Producers — 0.6%* | *Independent Power and Renewable Electricity Producers — 0.6%* | *Independent Power and Renewable Electricity Producers — 0.6%* | *Independent Power and Renewable Electricity Producers — 0.6%* | *Independent Power and Renewable Electricity Producers — 0.6%* |
| &nbsp;&nbsp;&nbsp; AES Andes SA, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 3/14/32 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 300317<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lightning Power LLC, Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 1190000<br>| &nbsp;&nbsp;&nbsp; 1233919<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransAlta Corp., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 156380<br>|
| &nbsp;&nbsp;&nbsp; TransAlta Corp., Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 3/15/40 | &nbsp;&nbsp; 860000<br>| &nbsp;&nbsp;&nbsp; 793446<br>|
| *Total Independent Power and Renewable Electricity Producers* | *Total Independent Power and Renewable Electricity Producers* | *Total Independent Power and Renewable Electricity Producers* | *Total Independent Power and Renewable Electricity Producers* | &nbsp;&nbsp; *2484062* |
| **Total Utilities** | **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **5820598** |
| **Total Corporate Bonds & Notes (Cost — $168,075,862)** | **Total Corporate Bonds & Notes (Cost — $168,075,862)** | **Total Corporate Bonds & Notes (Cost — $168,075,862)** | **Total Corporate Bonds & Notes (Cost — $168,075,862)** | &nbsp;&nbsp; **157746164** |
| **Collateralized Mortgage Obligations**<sup>(j)</sup> **— 21.3%** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— 21.3%** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— 21.3%** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— 21.3%** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— 21.3%** |
| &nbsp;&nbsp;&nbsp; 280 Park Avenue Mortgage Trust, 2017-280P D (1 mo. Term SOFR + 1.836%) | &nbsp;&nbsp; 6.137% | &nbsp;&nbsp; 9/15/34 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1038786<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Alternative Loan Trust, 2006-18CB A6 PAC (-4.000 x 1 mo. Term SOFR + <br> 28.142%) | &nbsp;&nbsp; 10.836% | &nbsp;&nbsp; 7/25/36 | &nbsp;&nbsp; 217130<br>| &nbsp;&nbsp;&nbsp; 197299<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust, 2022-3 A3 | &nbsp;&nbsp; 4.134% | &nbsp;&nbsp; 1/25/67 | &nbsp;&nbsp; 1004438<br>| &nbsp;&nbsp;&nbsp; 920486<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; ARES Commercial Mortgage Trust, 2024-IND2 A (1 mo. Term SOFR + <br> 1.443%) | &nbsp;&nbsp; 5.765% | &nbsp;&nbsp; 10/15/34 | &nbsp;&nbsp; 1290000<br>| &nbsp;&nbsp;&nbsp; 1291068<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BANK, 2017-BNK7 A5 | &nbsp;&nbsp; 3.435% | &nbsp;&nbsp; 9/15/60 | &nbsp;&nbsp; 640000<br>| &nbsp;&nbsp;&nbsp; 623246<br>|
| &nbsp;&nbsp;&nbsp; BANK, 2019-BN22 A4 | &nbsp;&nbsp; 2.978% | &nbsp;&nbsp; 11/15/62 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 612262<br>|
| &nbsp;&nbsp;&nbsp; BANK, 2022-BNK44 D | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/32 | &nbsp;&nbsp; 2110000<br>| &nbsp;&nbsp;&nbsp; 1550624<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BANK, 2023-BNK46 D | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/15/56 | &nbsp;&nbsp; 1180000<br>| &nbsp;&nbsp;&nbsp; 896590<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; BANK, 2024-BNK48 A5 | &nbsp;&nbsp; 5.053% | &nbsp;&nbsp; 10/15/57 | &nbsp;&nbsp; 1330000<br>| &nbsp;&nbsp;&nbsp; 1326350<br>|
| &nbsp;&nbsp;&nbsp; Bank of America Merrill Lynch Commercial Mortgage Trust, 2017-BNK3 D | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 2/15/50 | &nbsp;&nbsp; 1150000<br>| &nbsp;&nbsp;&nbsp; 1050430<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust, 2018-B1 A5 | &nbsp;&nbsp; 3.666% | &nbsp;&nbsp; 1/15/51 | &nbsp;&nbsp; 870000<br>| &nbsp;&nbsp;&nbsp; 849350<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust, 2019-B11 XA, IO | &nbsp;&nbsp; 1.116% | &nbsp;&nbsp; 5/15/52 | &nbsp;&nbsp; 16841662<br>| &nbsp;&nbsp;&nbsp; 526982<br> <sup>(f)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust, 2023-V3 D | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/15/56 | &nbsp;&nbsp; 2571000<br>| &nbsp;&nbsp;&nbsp; $2279972<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; BIG Commercial Mortgage Trust, 2022-BIG F (1 mo. Term SOFR + 5.436%) | &nbsp;&nbsp; 9.757% | &nbsp;&nbsp; 2/15/39 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 995612<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BOCA Commercial Mortgage Trust, 2024-BOCA E (1 mo. Term SOFR + <br> 4.437%) | &nbsp;&nbsp; 8.759% | &nbsp;&nbsp; 8/15/41 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 1001587<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2019-IMC F (1 mo. Term SOFR + 2.946%) | &nbsp;&nbsp; 7.268% | &nbsp;&nbsp; 4/15/34 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 1019990<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2020-VIVA D | &nbsp;&nbsp; 3.667% | &nbsp;&nbsp; 3/11/44 | &nbsp;&nbsp; 1280000<br>| &nbsp;&nbsp;&nbsp; 1160853<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2020-VIVA E | &nbsp;&nbsp; 3.667% | &nbsp;&nbsp; 3/11/44 | &nbsp;&nbsp; 1235000<br>| &nbsp;&nbsp;&nbsp; 1089840<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2022-LP2 G (1 mo. Term SOFR + 4.106%) | &nbsp;&nbsp; 8.428% | &nbsp;&nbsp; 2/15/39 | &nbsp;&nbsp; 987000<br>| &nbsp;&nbsp;&nbsp; 978151<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2024-BIO2 D | &nbsp;&nbsp; 7.970% | &nbsp;&nbsp; 8/13/41 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp; 1005459<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2024-KING E (1 mo. Term SOFR + 3.688%) | &nbsp;&nbsp; 8.010% | &nbsp;&nbsp; 5/15/34 | &nbsp;&nbsp; 1056097<br>| &nbsp;&nbsp;&nbsp; 1039287<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2025-SPOT E (1 mo. Term SOFR + 3.690%) | &nbsp;&nbsp; 8.012% | &nbsp;&nbsp; 4/15/40 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1192533<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2021-ARIA G (1 mo. Term SOFR + 3.257%) | &nbsp;&nbsp; 7.579% | &nbsp;&nbsp; 10/15/36 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1080397<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2021-LBA DJV (1 mo. Term SOFR + 1.714%) | &nbsp;&nbsp; 6.036% | &nbsp;&nbsp; 2/15/36 | &nbsp;&nbsp; 1290000<br>| &nbsp;&nbsp;&nbsp; 1267981<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2021-SDMF F (1 mo. Term SOFR + 2.051%) | &nbsp;&nbsp; 6.373% | &nbsp;&nbsp; 9/15/34 | &nbsp;&nbsp; 1069080<br>| &nbsp;&nbsp;&nbsp; 1049296<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2022-PSB A (1 mo. Term SOFR + 2.451%) | &nbsp;&nbsp; 6.773% | &nbsp;&nbsp; 8/15/39 | &nbsp;&nbsp; 353795<br>| &nbsp;&nbsp;&nbsp; 353353<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2024-CNYN D (1 mo. Term SOFR + 2.690%) | &nbsp;&nbsp; 7.012% | &nbsp;&nbsp; 4/15/41 | &nbsp;&nbsp; 1115774<br>| &nbsp;&nbsp;&nbsp; 1110139<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; CD Mortgage Trust, 2017-CD5 A4 | &nbsp;&nbsp; 3.431% | &nbsp;&nbsp; 8/15/50 | &nbsp;&nbsp; 10000<br>| &nbsp;&nbsp;&nbsp; 9717<br>|
| &nbsp;&nbsp;&nbsp; CFK Trust, 2020-MF2 E | &nbsp;&nbsp; 3.573% | &nbsp;&nbsp; 3/15/39 | &nbsp;&nbsp; 1700000<br>| &nbsp;&nbsp;&nbsp; 1218536<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, 2015-P1 C | &nbsp;&nbsp; 4.519% | &nbsp;&nbsp; 9/15/48 | &nbsp;&nbsp; 958000<br>| &nbsp;&nbsp;&nbsp; 922864<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, 2017-P8 XA, IO | &nbsp;&nbsp; 1.002% | &nbsp;&nbsp; 9/15/50 | &nbsp;&nbsp; 20605797<br>| &nbsp;&nbsp;&nbsp; 309926<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, 2023-SMRT A | &nbsp;&nbsp; 6.015% | &nbsp;&nbsp; 10/12/40 | &nbsp;&nbsp; 1270000<br>| &nbsp;&nbsp;&nbsp; 1310152<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust, 2022-A A1, Step bond (6.170% to 8/25/25, <br> 9.170% to 8/25/26 then 10.170%) | &nbsp;&nbsp; 6.170% | &nbsp;&nbsp; 9/25/62 | &nbsp;&nbsp; 1024201<br>| &nbsp;&nbsp;&nbsp; 1023982<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSMC Trust, 2017-CHOP H (PRIME + 4.294%) | &nbsp;&nbsp; 11.794% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1059037<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSMC Trust, 2019-UVIL A | &nbsp;&nbsp; 3.160% | &nbsp;&nbsp; 12/15/41 | &nbsp;&nbsp; 1190000<br>| &nbsp;&nbsp;&nbsp; 1094887<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Extended Stay America Trust, 2021-ESH E (1 mo. Term SOFR + 2.964%) | &nbsp;&nbsp; 7.286% | &nbsp;&nbsp; 7/15/38 | &nbsp;&nbsp; 1014187<br>| &nbsp;&nbsp;&nbsp; 1010714<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Extended Stay America Trust, 2021-ESH F (1 mo. Term SOFR + 3.814%) | &nbsp;&nbsp; 8.136% | &nbsp;&nbsp; 7/15/38 | &nbsp;&nbsp; 1022782<br>| &nbsp;&nbsp;&nbsp; 1012147<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured <br> Pass-Through Certificates, K115 X1, IO | &nbsp;&nbsp; 1.420% | &nbsp;&nbsp; 6/25/30 | &nbsp;&nbsp; 1481073<br>| &nbsp;&nbsp;&nbsp; 83026<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency <br> Credit Risk Trust, 2021-DNA3 B1 (30 Day Average SOFR + 3.500%) | &nbsp;&nbsp; 7.854% | &nbsp;&nbsp; 10/25/33 | &nbsp;&nbsp; 590000<br>| &nbsp;&nbsp;&nbsp; 650541<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency <br> Credit Risk Trust, 2021-DNA6 B1 (30 Day Average SOFR + 3.400%) | &nbsp;&nbsp; 7.754% | &nbsp;&nbsp; 10/25/41 | &nbsp;&nbsp; 860000<br>| &nbsp;&nbsp;&nbsp; 882036<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency <br> Credit Risk Trust, 2022-DNA2 B1 (30 Day Average SOFR + 4.750%) | &nbsp;&nbsp; 9.104% | &nbsp;&nbsp; 2/25/42 | &nbsp;&nbsp; 1220000<br>| &nbsp;&nbsp;&nbsp; 1275263<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk Transfer <br> Trust, 2018-2 BX | &nbsp;&nbsp; 2.319% | &nbsp;&nbsp; 11/25/57 | &nbsp;&nbsp; 3696434<br>| &nbsp;&nbsp;&nbsp; 1357534<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk Transfer <br> Trust, 2019-3 M | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/25/58 | &nbsp;&nbsp; 1315714<br>| &nbsp;&nbsp;&nbsp; 1283578<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk Transfer <br> Trust, 2020-3 M | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 5/25/60 | &nbsp;&nbsp; 2150000<br>| &nbsp;&nbsp;&nbsp; 2061303<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk Transfer <br> Trust, 2021-1 M | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 9/25/60 | &nbsp;&nbsp; 2446756<br>| &nbsp;&nbsp;&nbsp; 2338351<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk <br> Securitized Participation Interests Trust, 2017-SPI1 B | &nbsp;&nbsp; 4.108% | &nbsp;&nbsp; 9/25/47 | &nbsp;&nbsp; 627265<br>| &nbsp;&nbsp;&nbsp; 466582<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk <br> Trust, 2019-DNA3 B2 (30 Day Average SOFR + 8.264%) | &nbsp;&nbsp; 12.618% | &nbsp;&nbsp; 7/25/49 | &nbsp;&nbsp; 1809000<br>| &nbsp;&nbsp;&nbsp; 2051792<br> <sup>(a)(f)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2019-R03 1B1 (30 <br> Day Average SOFR + 4.214%) | &nbsp;&nbsp; 8.568% | &nbsp;&nbsp; 9/25/31 | &nbsp;&nbsp; 413581<br>| &nbsp;&nbsp;&nbsp; $431515<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2019-R05 1B1 (30 <br> Day Average SOFR + 4.214%) | &nbsp;&nbsp; 8.568% | &nbsp;&nbsp; 7/25/39 | &nbsp;&nbsp; 399002<br>| &nbsp;&nbsp;&nbsp; 408853<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2022-R01 1B1 (30 <br> Day Average SOFR + 3.150%) | &nbsp;&nbsp; 7.504% | &nbsp;&nbsp; 12/25/41 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 683335<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2025-R02 1B1 (30 <br> Day Average SOFR + 1.950%) | &nbsp;&nbsp; 6.303% | &nbsp;&nbsp; 2/25/45 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 1339921<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2012-55 IO, IO | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 4/16/52 | &nbsp;&nbsp; 493262<br>| &nbsp;&nbsp;&nbsp; 5<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Greystone CRE Notes, 2024-HC3 D (1 mo. Term SOFR + 5.333%) | &nbsp;&nbsp; 9.654% | &nbsp;&nbsp; 3/15/41 | &nbsp;&nbsp; 1240000<br>| &nbsp;&nbsp;&nbsp; 1233959<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Corp. II, 2024-70P E | &nbsp;&nbsp; 9.263% | &nbsp;&nbsp; 3/10/41 | &nbsp;&nbsp; 1125000<br>| &nbsp;&nbsp;&nbsp; 1163415<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Corp. Trust, 2018-LUAU G (1 mo. Term SOFR + <br> 4.747%) | &nbsp;&nbsp; 9.069% | &nbsp;&nbsp; 11/15/32 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp; 1027327<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Corp. Trust, 2021-ROSS D (1 mo. Term SOFR + <br> 2.764%) | &nbsp;&nbsp; 7.087% | &nbsp;&nbsp; 5/15/26 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 358700<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; GSMPS Mortgage Loan Trust, 2006-RP1 1A2 | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 1/25/36 | &nbsp;&nbsp; 465874<br>| &nbsp;&nbsp;&nbsp; 415264<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; GSMPS Mortgage Loan Trust, 2006-RP2 1AF1 (1 mo. Term SOFR + 0.514%) | &nbsp;&nbsp; 4.841% | &nbsp;&nbsp; 4/25/36 | &nbsp;&nbsp; 1168536<br>| &nbsp;&nbsp;&nbsp; 995566<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; HarborView Mortgage Loan Trust, 2005-9 2A1C (1 mo. Term SOFR + <br> 1.014%) | &nbsp;&nbsp; 5.334% | &nbsp;&nbsp; 6/20/35 | &nbsp;&nbsp; 1453877<br>| &nbsp;&nbsp;&nbsp; 1335962<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; HIH Trust, 2024-61P F (1 mo. Term SOFR + 5.437%) | &nbsp;&nbsp; 9.759% | &nbsp;&nbsp; 10/15/41 | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 1001768<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; IMPAC CMB Trust, 2005-5 A1 (1 mo. Term SOFR + 0.434%) | &nbsp;&nbsp; 5.081% | &nbsp;&nbsp; 8/25/35 | &nbsp;&nbsp; 39930<br>| &nbsp;&nbsp;&nbsp; 36850<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; IMPAC Secured Assets Corp., 2006-3 A7 (1 mo. Term SOFR + 0.654%) | &nbsp;&nbsp; 4.981% | &nbsp;&nbsp; 11/25/36 | &nbsp;&nbsp; 969915<br>| &nbsp;&nbsp;&nbsp; 820816<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; KIND Trust, 2021-KIND D (1 mo. Term SOFR + 2.414%) | &nbsp;&nbsp; 6.740% | &nbsp;&nbsp; 8/15/38 | &nbsp;&nbsp; 1239818<br>| &nbsp;&nbsp;&nbsp; 1213426<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; MF1 LLC, 2025-FL17 A (1 mo. Term SOFR + 1.320%) | &nbsp;&nbsp; 5.640% | &nbsp;&nbsp; 2/18/40 | &nbsp;&nbsp; 1320000<br>| &nbsp;&nbsp;&nbsp; 1309151<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; MF1 LLC, 2025-FL17 D (1 mo. Term SOFR + 2.741%) | &nbsp;&nbsp; 7.061% | &nbsp;&nbsp; 2/18/40 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp; 458447<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; MF1 LLC, 2025-FL17 E (1 mo. Term SOFR + 3.490%) | &nbsp;&nbsp; 7.810% | &nbsp;&nbsp; 2/18/40 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 388691<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; MF1 Trust, 2024-FL16 A (1 mo. Term SOFR + 1.541%) | &nbsp;&nbsp; 5.861% | &nbsp;&nbsp; 11/18/39 | &nbsp;&nbsp; 1300000<br>| &nbsp;&nbsp;&nbsp; 1299173<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; MFA Trust, 2023-NQM4 A3 | &nbsp;&nbsp; 6.784% | &nbsp;&nbsp; 12/25/68 | &nbsp;&nbsp; 425056<br>| &nbsp;&nbsp;&nbsp; 430224<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MHC Commercial Mortgage Trust, 2021-MHC F (1 mo. Term SOFR + <br> 2.715%) | &nbsp;&nbsp; 7.037% | &nbsp;&nbsp; 4/15/38 | &nbsp;&nbsp; 1040000<br>| &nbsp;&nbsp;&nbsp; 1033056<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; MHC Trust, 2021-MHC2 E (1 mo. Term SOFR + 2.064%) | &nbsp;&nbsp; 6.386% | &nbsp;&nbsp; 5/15/38 | &nbsp;&nbsp; 1280000<br>| &nbsp;&nbsp;&nbsp; 1271268<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust, 2015-UBS8 C | &nbsp;&nbsp; 4.727% | &nbsp;&nbsp; 12/15/48 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 680999<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust, 2021-230P B (1 mo. Term SOFR + 1.563%) | &nbsp;&nbsp; 5.885% | &nbsp;&nbsp; 12/15/38 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 981315<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust, 2021-L7 XA, IO | &nbsp;&nbsp; 1.194% | &nbsp;&nbsp; 10/15/54 | &nbsp;&nbsp; 8855787<br>| &nbsp;&nbsp;&nbsp; 397426<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust, 2005-2AR B1 (1 mo. Term SOFR + <br> 0.614%) | &nbsp;&nbsp; 4.941% | &nbsp;&nbsp; 4/25/35 | &nbsp;&nbsp; 833938<br>| &nbsp;&nbsp;&nbsp; 645383<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; MSWF Commercial Mortgage Trust, 2023-1 A4 | &nbsp;&nbsp; 5.472% | &nbsp;&nbsp; 5/15/56 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 837258<br>|
| &nbsp;&nbsp;&nbsp; MSWF Commercial Mortgage Trust, 2023-2 C | &nbsp;&nbsp; 7.252% | &nbsp;&nbsp; 12/15/56 | &nbsp;&nbsp; 1240000<br>| &nbsp;&nbsp;&nbsp; 1273933<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Multifamily CAS Trust, 2020-01 M10 (30 Day Average SOFR + 3.864%) | &nbsp;&nbsp; 8.218% | &nbsp;&nbsp; 3/25/50 | &nbsp;&nbsp; 1200843<br>| &nbsp;&nbsp;&nbsp; 1221807<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Multifamily Trust, 2016-1 B | &nbsp;&nbsp; 8.127% | &nbsp;&nbsp; 4/25/46 | &nbsp;&nbsp; 340664<br>| &nbsp;&nbsp;&nbsp; 339587<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Natixis Commercial Mortgage Securities Trust, 2019-FAME D | &nbsp;&nbsp; 4.544% | &nbsp;&nbsp; 8/15/36 | &nbsp;&nbsp; 1750000<br>| &nbsp;&nbsp;&nbsp; 1207877<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Natixis Commercial Mortgage Securities Trust, 2019-FAME E | &nbsp;&nbsp; 4.544% | &nbsp;&nbsp; 8/15/36 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 336742<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCMF Trust, 2022-MFP G (1 mo. Term SOFR + 5.128%) | &nbsp;&nbsp; 9.450% | &nbsp;&nbsp; 3/15/39 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 728345<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, 2017-5A B5 | &nbsp;&nbsp; 6.296% | &nbsp;&nbsp; 6/25/57 | &nbsp;&nbsp; 669378<br>| &nbsp;&nbsp;&nbsp; 623968<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nomura Resecuritization Trust, 2015-8R 4A4 | &nbsp;&nbsp; 4.331% | &nbsp;&nbsp; 11/25/47 | &nbsp;&nbsp; 1079562<br>| &nbsp;&nbsp;&nbsp; 948755<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; NYMT Loan Trust, 2024-BPL1 A1 | &nbsp;&nbsp; 7.154% | &nbsp;&nbsp; 2/25/29 | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 1021087<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; OBX Trust, 2024-NQM1 A3 | &nbsp;&nbsp; 6.455% | &nbsp;&nbsp; 11/25/63 | &nbsp;&nbsp; 629157<br>| &nbsp;&nbsp;&nbsp; 633964<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(j)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; ONNI Commercial Mortgage Trust, 2024-APT D | &nbsp;&nbsp; 7.237% | &nbsp;&nbsp; 7/15/39 | &nbsp;&nbsp; 1160000<br>| &nbsp;&nbsp;&nbsp; $1209570<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; PRPM LLC, 2025-RCF1 A1 | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 2/25/55 | &nbsp;&nbsp; 649186<br>| &nbsp;&nbsp;&nbsp; 637688<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RIDE, 2025-SHRE D | &nbsp;&nbsp; 6.972% | &nbsp;&nbsp; 2/14/47 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1154923<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Saluda Grade Alternative Mortgage Trust, 2024-RTL4 A1 | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/25/30 | &nbsp;&nbsp; 2430000<br>| &nbsp;&nbsp;&nbsp; 2435319<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SFO Commercial Mortgage Trust, 2021-555 D (1 mo. Term SOFR + 2.514%) | &nbsp;&nbsp; 6.836% | &nbsp;&nbsp; 5/15/38 | &nbsp;&nbsp; 1070000<br>| &nbsp;&nbsp;&nbsp; 1024814<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; SMRT, 2022-MINI D (1 mo. Term SOFR + 1.950%) | &nbsp;&nbsp; 6.272% | &nbsp;&nbsp; 1/15/39 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp; 829875<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; SMRT, 2022-MINI F (1 mo. Term SOFR + 3.350%) | &nbsp;&nbsp; 7.672% | &nbsp;&nbsp; 1/15/39 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp; 973228<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp., 2005-RF2 A (1 mo. Term SOFR + 0.464%) | &nbsp;&nbsp; 4.791% | &nbsp;&nbsp; 4/25/35 | &nbsp;&nbsp; 1173888<br>| &nbsp;&nbsp;&nbsp; 1042534<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust, 2025-DATA A (1 mo. Term SOFR + <br> 1.443%) | &nbsp;&nbsp; 5.765% | &nbsp;&nbsp; 3/15/42 | &nbsp;&nbsp; 1150000<br>| &nbsp;&nbsp;&nbsp; 1132080<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust, 2015-1 B1 | &nbsp;&nbsp; 4.732% | &nbsp;&nbsp; 10/25/53 | &nbsp;&nbsp; 1230000<br>| &nbsp;&nbsp;&nbsp; 1175762<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust, 2017-C7 A3 | &nbsp;&nbsp; 3.418% | &nbsp;&nbsp; 12/15/50 | &nbsp;&nbsp; 520417<br>| &nbsp;&nbsp;&nbsp; 507444<br>|
| &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust, 2018-C12 A2 | &nbsp;&nbsp; 4.152% | &nbsp;&nbsp; 8/15/51 | &nbsp;&nbsp; 75985<br>| &nbsp;&nbsp;&nbsp; 75468<br>|
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust, 2023-4 B1 | &nbsp;&nbsp; 8.089% | &nbsp;&nbsp; 5/25/68 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 1053395<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust, 2023-8 A3 | &nbsp;&nbsp; 6.968% | &nbsp;&nbsp; 12/25/68 | &nbsp;&nbsp; 982008<br>| &nbsp;&nbsp;&nbsp; 995133<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Waikiki Beach Hotel Trust, 2019-WBM D (1 mo. Term SOFR + 2.327%) | &nbsp;&nbsp; 6.649% | &nbsp;&nbsp; 12/15/33 | &nbsp;&nbsp; 1310000<br>| &nbsp;&nbsp;&nbsp; 1294922<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; WaMu Mortgage Pass-Through Certificates Trust, 2005-AR19 A1A1 (1 mo. <br> Term SOFR + 0.654%) | &nbsp;&nbsp; 4.981% | &nbsp;&nbsp; 12/25/45 | &nbsp;&nbsp; 21558<br>| &nbsp;&nbsp;&nbsp; 21116<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; WB Commercial Mortgage Trust, 2024-HQ D | &nbsp;&nbsp; 8.278% | &nbsp;&nbsp; 3/15/40 | &nbsp;&nbsp; 650000<br>| &nbsp;&nbsp;&nbsp; 658690<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, 2014-LC18 B | &nbsp;&nbsp; 3.959% | &nbsp;&nbsp; 12/15/47 | &nbsp;&nbsp; 65763<br>| &nbsp;&nbsp;&nbsp; 65222<br>|
| **Total Collateralized Mortgage Obligations (Cost — $98,290,950)** | **Total Collateralized Mortgage Obligations (Cost — $98,290,950)** | **Total Collateralized Mortgage Obligations (Cost — $98,290,950)** | **Total Collateralized Mortgage Obligations (Cost — $98,290,950)** | &nbsp;&nbsp; **95752212** |
| **Senior Loans — 21.0%** | **Senior Loans — 21.0%** | **Senior Loans — 21.0%** | **Senior Loans — 21.0%** | **Senior Loans — 21.0%** |
| **Communication Services — 2.6%** | **Communication Services — 2.6%** | **Communication Services — 2.6%** | **Communication Services — 2.6%** | **Communication Services — 2.6%** |
| *Entertainment — 0.7%* | *Entertainment — 0.7%* | *Entertainment — 0.7%* | *Entertainment — 0.7%* | *Entertainment — 0.7%* |
| &nbsp;&nbsp;&nbsp; Allen Media LLC, Term Loan B (3 mo. Term SOFR + 5.650%) | 9.949% | &nbsp;&nbsp; 2/10/27 | &nbsp;&nbsp; 3586067<br>| &nbsp;&nbsp;&nbsp; 1798413<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; EOC Borrower LLC, Term Loan B (1 mo. Term SOFR + 3.000%) | 7.322% | &nbsp;&nbsp; 3/24/32 | &nbsp;&nbsp; 1170000<br>| &nbsp;&nbsp;&nbsp; 1158785<br> <sup>(f)(k)(l)</sup><br>|
| *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | &nbsp;&nbsp; *2957198* |
| *Interactive Media & Services — 0.5%* | *Interactive Media & Services — 0.5%* | *Interactive Media & Services — 0.5%* | *Interactive Media & Services — 0.5%* | *Interactive Media & Services — 0.5%* |
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan B1 (3 mo. Term SOFR + 6.650%) | 10.949% | &nbsp;&nbsp; 10/26/29 | &nbsp;&nbsp; 1585944<br>| &nbsp;&nbsp;&nbsp; 1539754<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan B3 | 9.500% | &nbsp;&nbsp; 10/26/29 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 967106<br> <sup>(k)(l)</sup><br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *2506860* |
| *Media — 1.4%* | *Media — 1.4%* | *Media — 1.4%* | *Media — 1.4%* | *Media — 1.4%* |
| &nbsp;&nbsp;&nbsp; Diamond Sports Net LLC, First Lien Exit Term Loan | 15.000% | &nbsp;&nbsp; 1/2/28 | &nbsp;&nbsp; 585022<br>| &nbsp;&nbsp;&nbsp; 525057<br> <sup>(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Getty Images Inc., Dollar Term Loan B1 | 11.250% | &nbsp;&nbsp; 2/21/30 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp; 356850<br> <sup>(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Learfield Communications LLC, 2024 Term Loan B (1 mo. Term SOFR + <br> 4.500%) | 8.822% | &nbsp;&nbsp; 6/30/28 | &nbsp;&nbsp; 3282172<br>| &nbsp;&nbsp;&nbsp; 3280120<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; MH Sub I LLC, 2023 New Term Loan (1 mo. Term SOFR + 4.250%) | 8.572% | &nbsp;&nbsp; 5/3/28 | &nbsp;&nbsp; 742840<br>| &nbsp;&nbsp;&nbsp; 704770<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; MH Sub I LLC, 2024 New Term Loan (1 mo. Term SOFR + 4.250%) | 8.572% | &nbsp;&nbsp; 12/31/31 | &nbsp;&nbsp; 502747<br>| &nbsp;&nbsp;&nbsp; 442373<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Univision Communications Inc., 2024 First Lien Replacement Term Loan (1 <br> mo. Term SOFR + 3.614%) | 7.936% | &nbsp;&nbsp; 1/31/29 | &nbsp;&nbsp; 327525<br>| &nbsp;&nbsp;&nbsp; 315652<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, Term Loan Facility Y (6 mo. Term SOFR + 3.275%) | 7.373% | &nbsp;&nbsp; 3/31/31 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 681782<br> <sup>(f)(k)(l)</sup><br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *6306604* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **11770662** |
| **Consumer Discretionary — 3.1%** | **Consumer Discretionary — 3.1%** | **Consumer Discretionary — 3.1%** | **Consumer Discretionary — 3.1%** | **Consumer Discretionary — 3.1%** |
| *Automobile Components — 0.5%* | *Automobile Components — 0.5%* | *Automobile Components — 0.5%* | *Automobile Components — 0.5%* | *Automobile Components — 0.5%* |
| &nbsp;&nbsp;&nbsp; Clarios Global LP, 2024 Term Loan B (1 mo. Term SOFR + 2.500%) | 6.822% | &nbsp;&nbsp; 5/6/30 | &nbsp;&nbsp; 803835<br>| &nbsp;&nbsp;&nbsp; 790270<br> <sup>(f)(k)(l)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Automobile Components — continued* | *Automobile Components — continued* | *Automobile Components — continued* | *Automobile Components — continued* | *Automobile Components — continued* |
| &nbsp;&nbsp;&nbsp; Clarios Global LP, Amendment No. 6 Dollar Term Loan (1 mo. Term SOFR + <br> 2.750%) | 7.072% | &nbsp;&nbsp; 1/28/32 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp; $304446<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Brands Group LLC, 2021 First Lien Term Loan (3 mo. Term SOFR + <br> 5.262%) | 9.541% | &nbsp;&nbsp; 3/30/27 | &nbsp;&nbsp; 217732<br>| &nbsp;&nbsp;&nbsp; 202997<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Brands Group LLC, 2022 Incremental Term Loan (3 mo. Term SOFR + <br> 5.262%) | 9.541% | &nbsp;&nbsp; 3/30/27 | &nbsp;&nbsp; 821199<br>| &nbsp;&nbsp;&nbsp; 765255<br> <sup>(f)(k)(l)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *2062968* |
| *Broadline Retail — 0.1%* | *Broadline Retail — 0.1%* | *Broadline Retail — 0.1%* | *Broadline Retail — 0.1%* | *Broadline Retail — 0.1%* |
| &nbsp;&nbsp;&nbsp; Peer Holding III BV, Term Loan B4 (3 mo. Term SOFR + 2.500%)  | 6.799% | &nbsp;&nbsp; 10/26/30 | &nbsp;&nbsp; 670043<br>| &nbsp;&nbsp;&nbsp;&nbsp; *668090*<br> <sup>(f)(k)(l)</sup><br>|
| *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC, Term Loan B1 (1 mo. Term SOFR + <br> 2.000%) | 6.319% | &nbsp;&nbsp; 10/13/30 | &nbsp;&nbsp; 612273<br>| &nbsp;&nbsp;&nbsp; 610501<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; WW International Inc., Initial Term Loan (3 mo. Term SOFR + 3.762%) | 8.041% | &nbsp;&nbsp; 4/13/28 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 80025<br> <sup>(f)(k)(l)</sup><br>|
| *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | &nbsp;&nbsp; *690526* |
| *Hotels, Restaurants & Leisure — 1.5%* | *Hotels, Restaurants & Leisure — 1.5%* | *Hotels, Restaurants & Leisure — 1.5%* | *Hotels, Restaurants & Leisure — 1.5%* | *Hotels, Restaurants & Leisure — 1.5%* |
| &nbsp;&nbsp;&nbsp; Allwyn Entertainment Financing US LLC, New Facility Term Loan B (3 mo. <br> Term SOFR + 2.000%) | 6.230% | &nbsp;&nbsp; 6/2/31 | &nbsp;&nbsp; 746833<br>| &nbsp;&nbsp;&nbsp; 738117<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Alterra Mountain Co., Term Loan B6 (1 mo. Term SOFR + 2.750%) | 7.072% | &nbsp;&nbsp; 8/17/28 | &nbsp;&nbsp; 1541233<br>| &nbsp;&nbsp;&nbsp; 1543160<br> <sup>(e)(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Caesars Entertainment Inc., Incremental Term Loan B1 (3 mo. Term SOFR + <br> 2.250%) | 6.563% | &nbsp;&nbsp; 2/6/31 | &nbsp;&nbsp; 1142679<br>| &nbsp;&nbsp;&nbsp; 1126967<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Caesars Entertainment Inc., Term Loan B (3 mo. Term SOFR + 2.250%) | 6.563% | &nbsp;&nbsp; 2/6/30 | &nbsp;&nbsp; 341710<br>| &nbsp;&nbsp;&nbsp; 337780<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Catawba Nation Gaming Authority, Initial Term Loan B (3 mo. Term SOFR + <br> 4.750%) | 9.053% | &nbsp;&nbsp; 3/28/32 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 707043<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Flutter Entertainment Public Ltd. Co., 2024 Term Loan B (3 mo. Term SOFR + <br> 1.750%) | 6.049% | &nbsp;&nbsp; 11/30/30 | &nbsp;&nbsp; 1170043<br>| &nbsp;&nbsp;&nbsp; 1155055<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Four Seasons Hotels Ltd., 2024 Term Loan B2 (1 mo. Term SOFR + 1.750%) | 6.072% | &nbsp;&nbsp; 11/30/29 | &nbsp;&nbsp; 930920<br>| &nbsp;&nbsp;&nbsp; 933136<br> <sup>(f)(k)(l)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *6541258* |
| *Specialty Retail — 0.8%* | *Specialty Retail — 0.8%* | *Specialty Retail — 0.8%* | *Specialty Retail — 0.8%* | *Specialty Retail — 0.8%* |
| &nbsp;&nbsp;&nbsp; Harbor Freight Tools USA Inc., Initial Term Loan (1 mo. Term SOFR + <br> 2.500%) | 6.822% | &nbsp;&nbsp; 6/11/31 | &nbsp;&nbsp; 1049314<br>| &nbsp;&nbsp;&nbsp; 979555<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lids Holdings Inc., Initial Term Loan (3 mo. Term SOFR + 5.650%) | 9.945% | &nbsp;&nbsp; 12/14/26 | &nbsp;&nbsp; 1297202<br>| &nbsp;&nbsp;&nbsp; 1290715<br> <sup>(e)(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spencer Spirit IH LLC, Initial Term Loan (1 mo. Term SOFR + 4.750%) | 9.071% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 1542250<br>| &nbsp;&nbsp;&nbsp; 1517189<br> <sup>(f)(k)(l)</sup><br>|
| *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *3787459* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **13750301** |
| **Consumer Staples — 0.6%** | **Consumer Staples — 0.6%** | **Consumer Staples — 0.6%** | **Consumer Staples — 0.6%** | **Consumer Staples — 0.6%** |
| *Beverages — 0.5%* | *Beverages — 0.5%* | *Beverages — 0.5%* | *Beverages — 0.5%* | *Beverages — 0.5%* |
| &nbsp;&nbsp;&nbsp; Celsius Holdings Inc., Initial Term Loan (3 mo. Term SOFR + 3.250%) | 7.548% | &nbsp;&nbsp; 3/21/32 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1194498<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Triton Water Holdings Inc., 2025 Refinancing Term Loan (3 mo. Term SOFR + <br> 2.250%) | 6.549% | &nbsp;&nbsp; 3/31/28 | &nbsp;&nbsp; 1130826<br>| &nbsp;&nbsp;&nbsp; 1123618<br> <sup>(f)(k)(l)</sup><br>|
| *Total Beverages* | *Total Beverages* | *Total Beverages* | *Total Beverages* | &nbsp;&nbsp; *2318116* |
| *Food Products — 0.0%††* | *Food Products — 0.0%††* | *Food Products — 0.0%††* | *Food Products — 0.0%††* | *Food Products — 0.0%††* |
| &nbsp;&nbsp;&nbsp; 8th Avenue Food & Provisions Inc., Second Lien Term Loan (1 mo. Term <br> SOFR + 7.864%)  | 12.186% | &nbsp;&nbsp; 10/1/26 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *237007*<br> <sup>(f)(k)(l)</sup><br>|
| *Household Products — 0.1%* | *Household Products — 0.1%* | *Household Products — 0.1%* | *Household Products — 0.1%* | *Household Products — 0.1%* |
| &nbsp;&nbsp;&nbsp; Knight Health Holdings LLC, Term Loan B (1 mo. Term SOFR + 5.364%)  | 9.686% | &nbsp;&nbsp; 12/23/28 | &nbsp;&nbsp; 629447<br>| &nbsp;&nbsp;&nbsp;&nbsp; *293322*<br> <sup>(f)(k)(l)</sup><br>|
| **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **2848445** |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| **Energy — 0.2%** | **Energy — 0.2%** | **Energy — 0.2%** | **Energy — 0.2%** | **Energy — 0.2%** |
| *Oil, Gas & Consumable Fuels — 0.2%* | *Oil, Gas & Consumable Fuels — 0.2%* | *Oil, Gas & Consumable Fuels — 0.2%* | *Oil, Gas & Consumable Fuels — 0.2%* | *Oil, Gas & Consumable Fuels — 0.2%* |
| &nbsp;&nbsp;&nbsp; NGP XI Midstream Holdings LLC, Term Loan B2 (3 mo. Term SOFR + <br> 3.500%)  | 7.799% | &nbsp;&nbsp; 7/25/31 | &nbsp;&nbsp; 718200<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$711018**<br> <sup>(f)(k)(l)</sup><br>|
| **Financials — 3.9%** | **Financials — 3.9%** | **Financials — 3.9%** | **Financials — 3.9%** | **Financials — 3.9%** |
| *Banks — 0.2%* | *Banks — 0.2%* | *Banks — 0.2%* | *Banks — 0.2%* | *Banks — 0.2%* |
| &nbsp;&nbsp;&nbsp; Ascensus Group Holdings Inc., 2024 Term Loan B (1 mo. Term SOFR + <br> 3.000%)  | 7.322% | &nbsp;&nbsp; 8/2/28 | &nbsp;&nbsp; 1031655<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1027787*<br> <sup>(f)(k)(l)</sup><br>|
| *Capital Markets — 0.2%* | *Capital Markets — 0.2%* | *Capital Markets — 0.2%* | *Capital Markets — 0.2%* | *Capital Markets — 0.2%* |
| &nbsp;&nbsp;&nbsp; Focus Financial Partners LLC, Incremental Term Loan B (1 mo. Term SOFR + <br> 2.750%)  | 7.072% | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 977550<br>| &nbsp;&nbsp;&nbsp;&nbsp; *967051*<br> <sup>(f)(k)(l)</sup><br>|
| *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* |
| &nbsp;&nbsp;&nbsp; Blackhawk Network Holdings Inc., Term Loan B (1 mo. Term SOFR + <br> 4.000%)  | 8.322% | &nbsp;&nbsp; 3/12/29 | &nbsp;&nbsp; 772244<br>| &nbsp;&nbsp;&nbsp;&nbsp; *772669*<br> <sup>(f)(k)(l)</sup><br>|
| *Financial Services — 1.4%* | *Financial Services — 1.4%* | *Financial Services — 1.4%* | *Financial Services — 1.4%* | *Financial Services — 1.4%* |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC, Term Loan B2 (3 mo. Term SOFR + 2.000%) | 6.299% | &nbsp;&nbsp; 1/31/31 | &nbsp;&nbsp; 668325<br>| &nbsp;&nbsp;&nbsp; 667767<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Deerfield Dakota Holding LLC, 2021 Replacement Term Loan (3 mo. Term <br> SOFR + 7.012%) | 11.311% | &nbsp;&nbsp; 4/7/28 | &nbsp;&nbsp; 580000<br>| &nbsp;&nbsp;&nbsp; 535415<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Greystone Select Holdings LLC, Term Loan B (3 mo. Term SOFR + 5.262%) | 9.534% | &nbsp;&nbsp; 6/16/28 | &nbsp;&nbsp; 1112003<br>| &nbsp;&nbsp;&nbsp; 1106443<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jane Street Group LLC, Extended Term Loan (3 mo. Term SOFR + 2.000%) | 6.313% | &nbsp;&nbsp; 12/15/31 | &nbsp;&nbsp; 1170043<br>| &nbsp;&nbsp;&nbsp; 1155587<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nexus Buyer LLC, Amendment No. 9 Refinancing Term Loan (1 mo. Term <br> SOFR + 3.500%) | 7.822% | &nbsp;&nbsp; 7/31/31 | &nbsp;&nbsp; 858548<br>| &nbsp;&nbsp;&nbsp; 857179<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; VFH Parent LLC, Term Loan B2 (1 mo. Term SOFR + 2.500%) | 6.822% | &nbsp;&nbsp; 6/21/31 | &nbsp;&nbsp; 1860000<br>| &nbsp;&nbsp;&nbsp; 1855350<br> <sup>(e)(f)(k)(l)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *6177741* |
| *Insurance — 1.5%* | *Insurance — 1.5%* | *Insurance — 1.5%* | *Insurance — 1.5%* | *Insurance — 1.5%* |
| &nbsp;&nbsp;&nbsp; Accession Risk Management Group Inc., 2022 Delayed Draw Term Loan 2 <br> (3 mo. Term SOFR + 4.750%) | &nbsp;&nbsp; 9.030-<br> 9.063%<br>| &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 271640<br>| &nbsp;&nbsp;&nbsp; 271470<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Accession Risk Management Group Inc., 2023 Delayed Draw Term Loan 2 <br> (3 mo. Term SOFR + 4.750%) | &nbsp;&nbsp; 9.030-<br> 9.063%<br>| &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 1394484<br>| &nbsp;&nbsp;&nbsp; 1394484<br> <sup>(e)(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Accession Risk Management Group Inc., Term Loan (3 mo. Term SOFR + <br> 4.750%) | &nbsp;&nbsp; 9.030-<br> 9.063%<br>| &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 512353<br>| &nbsp;&nbsp;&nbsp; 512033<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Accession Risk Management Group Inc., Term Loan B (3 mo. Term SOFR + <br> 4.750%) | &nbsp;&nbsp; 9.030-<br> 9.063%<br>| &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 185842<br>| &nbsp;&nbsp;&nbsp; 185726<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Accession Risk Management Group Inc., Term Loan C (3 mo. Term SOFR + <br> 4.750%) | &nbsp;&nbsp; 9.030-<br> 9.063%<br>| &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 370691<br>| &nbsp;&nbsp;&nbsp; 370460<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; AmWINS Group Inc., Initial Term Loan (1 mo. Term SOFR + 2.250%) | 6.572% | &nbsp;&nbsp; 1/30/32 | &nbsp;&nbsp; 1170043<br>| &nbsp;&nbsp;&nbsp; 1165568<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; AssuredPartners Inc., 2024 Term Loan (1 mo. Term SOFR + 3.500%) | 7.822% | &nbsp;&nbsp; 2/14/31 | &nbsp;&nbsp; 849609<br>| &nbsp;&nbsp;&nbsp; 850628<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Asurion LLC, New Term Loan B9 (1 mo. Term SOFR + 3.364%) | 7.686% | &nbsp;&nbsp; 7/31/27 | &nbsp;&nbsp; 769990<br>| &nbsp;&nbsp;&nbsp; 754486<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; HIG Finance 2 Ltd., 2024 Refinancing Term Loan 2 (1 mo. Term SOFR + <br> 3.500%) | 7.822% | &nbsp;&nbsp; 4/18/30 | &nbsp;&nbsp; 231917<br>| &nbsp;&nbsp;&nbsp; 232409<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sedgwick Claims Management Services Inc., 2024 Term Loan (3 mo. Term <br> SOFR + 3.000%) | 7.313% | &nbsp;&nbsp; 7/31/31 | &nbsp;&nbsp; 915312<br>| &nbsp;&nbsp;&nbsp; 912095<br> <sup>(f)(k)(l)</sup><br>|
| *Total Insurance* | *Total Insurance* | *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *6649359* |
| *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.4%* |
| &nbsp;&nbsp;&nbsp; KREF Holdings X LLC, Initial Term Loan (1 mo. Term SOFR + 3.250%) | 7.571% | &nbsp;&nbsp; 2/25/32 | &nbsp;&nbsp; 1170000<br>| &nbsp;&nbsp;&nbsp; 1162693<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starwood Property Mortgage LLC, Term Loan B |  | &nbsp;&nbsp; 11/18/27 | &nbsp;&nbsp; 585022<br>| &nbsp;&nbsp;&nbsp; 585022<br> <sup>(e)(m)</sup><br>|
| *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | &nbsp;&nbsp; *1747715* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **17342322** |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| **Health Care — 2.7%** | **Health Care — 2.7%** | **Health Care — 2.7%** | **Health Care — 2.7%** | **Health Care — 2.7%** |
| *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, Dollar Incremental Term Loan (1 mo. Term SOFR + <br> 2.250%)  | 6.572% | &nbsp;&nbsp; 10/23/28 | &nbsp;&nbsp; 1068928<br>| &nbsp;&nbsp;&nbsp; $*1062969*<br> <sup>(f)(k)(l)</sup><br>|
| *Health Care Providers & Services — 1.6%* | *Health Care Providers & Services — 1.6%* | *Health Care Providers & Services — 1.6%* | *Health Care Providers & Services — 1.6%* | *Health Care Providers & Services — 1.6%* |
| &nbsp;&nbsp;&nbsp; EyeCare Partners LLC, Term Loan B (3 mo. Term SOFR + 4.710%) | 8.837% | &nbsp;&nbsp; 11/30/28 | &nbsp;&nbsp; 136691<br>| &nbsp;&nbsp;&nbsp; 106220<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Term Loan B (3 mo. Term SOFR + 3.750%) | 8.006% | &nbsp;&nbsp; 5/16/31 | &nbsp;&nbsp; 791787<br>| &nbsp;&nbsp;&nbsp; 778426<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Term Loan B2 (3 mo. Term SOFR + 3.500%) | 7.817% | &nbsp;&nbsp; 5/16/31 | &nbsp;&nbsp; 726354<br>| &nbsp;&nbsp;&nbsp; 711072<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Phoenix Guarantor Inc., Term Loan B5 (1 mo. Term SOFR + 2.500%) | 6.822% | &nbsp;&nbsp; 2/21/31 | &nbsp;&nbsp; 1202684<br>| &nbsp;&nbsp;&nbsp; 1196250<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sonrava Health Holdings LLC, Second Out Term Loan Facility A (3 mo. Term <br> SOFR + 6.762%) | 11.061% | &nbsp;&nbsp; 8/18/28 | &nbsp;&nbsp; 3916684<br>| &nbsp;&nbsp;&nbsp; 1478548<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings LLC, 2024 Refinancing Term Loan (3 mo. Term SOFR <br> + 3.250%) | 7.549% | &nbsp;&nbsp; 5/30/31 | &nbsp;&nbsp; 1542250<br>| &nbsp;&nbsp;&nbsp; 1541294<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Team Services Group LLC, Incremental Term Loan (3 mo. Term SOFR + <br> 5.250%) | 9.530% | &nbsp;&nbsp; 12/20/27 | &nbsp;&nbsp; 488775<br>| &nbsp;&nbsp;&nbsp; 475336<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Team Services Group LLC, Senior Secured First Lien Term Loan (3 mo. Term <br> SOFR + 5.262%) | 9.541% | &nbsp;&nbsp; 12/20/27 | &nbsp;&nbsp; 654884<br>| &nbsp;&nbsp;&nbsp; 634255<br> <sup>(f)(k)(l)</sup><br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *6921401* |
| *Health Care Technology — 0.6%* | *Health Care Technology — 0.6%* | *Health Care Technology — 0.6%* | *Health Care Technology — 0.6%* | *Health Care Technology — 0.6%* |
| &nbsp;&nbsp;&nbsp; Cotiviti Inc., Amendment No. 2 Term Loan (3 mo. Term SOFR + 2.750%) | 7.077% | &nbsp;&nbsp; 3/29/32 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 803940<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cotiviti Inc., Initial Term Loan | 7.625% | &nbsp;&nbsp; 5/1/31 | &nbsp;&nbsp; 640000<br>| &nbsp;&nbsp;&nbsp; 635203<br> <sup>(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cotiviti Inc., Initial Term Loan (1 mo. Term SOFR + 2.750%) | 7.074% | &nbsp;&nbsp; 5/1/31 | &nbsp;&nbsp; 656852<br>| &nbsp;&nbsp;&nbsp; 644947<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC, First Out Term Loan (3 mo. Term SOFR + <br> 3.750%) | 8.030% | &nbsp;&nbsp; 12/31/30 | &nbsp;&nbsp; 202472<br>| &nbsp;&nbsp;&nbsp; 200346<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC, Second Out Term Loan (3 mo. Term SOFR + <br> 4.862%) | 9.141% | &nbsp;&nbsp; 12/31/30 | &nbsp;&nbsp; 678367<br>| &nbsp;&nbsp;&nbsp; 542694<br> <sup>(e)(f)(k)(l)</sup><br>|
| *Total Health Care Technology* | *Total Health Care Technology* | *Total Health Care Technology* | *Total Health Care Technology* | &nbsp;&nbsp; *2827130* |
| *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd., Initial Term Loan (1 mo. Term SOFR + 6.250%) | 10.570% | &nbsp;&nbsp; 9/25/30 | &nbsp;&nbsp; 470000<br>| &nbsp;&nbsp;&nbsp; 444542<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gainwell Acquisition Corp., Term Loan B (3 mo. Term SOFR + 4.100%) | 8.399% | &nbsp;&nbsp; 10/1/27 | &nbsp;&nbsp; 940000<br>| &nbsp;&nbsp;&nbsp; 876992<br> <sup>(f)(k)(l)</sup><br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *1321534* |
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **12133034** |
| **Industrials — 3.3%** | **Industrials — 3.3%** | **Industrials — 3.3%** | **Industrials — 3.3%** | **Industrials — 3.3%** |
| *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP, Initial Term Loan B (3 mo. Term SOFR + 2.500%) | 6.933% | &nbsp;&nbsp; 5/31/30 | &nbsp;&nbsp; 1030630<br>| &nbsp;&nbsp;&nbsp; 1020391<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP, Second Amendment Incremental Term Loan (3 mo. <br> Term SOFR + 2.500%) | 6.799% | &nbsp;&nbsp; 8/4/31 | &nbsp;&nbsp; 169150<br>| &nbsp;&nbsp;&nbsp; 167424<br> <sup>(f)(k)(l)</sup><br>|
| *Total Building Products* | *Total Building Products* | *Total Building Products* | *Total Building Products* | &nbsp;&nbsp; *1187815* |
| *Commercial Services & Supplies — 1.5%* | *Commercial Services & Supplies — 1.5%* | *Commercial Services & Supplies — 1.5%* | *Commercial Services & Supplies — 1.5%* | *Commercial Services & Supplies — 1.5%* |
| &nbsp;&nbsp;&nbsp; DS Parent Inc., Term Loan B (3 mo. Term SOFR + 5.500%) | 9.799% | &nbsp;&nbsp; 1/31/31 | &nbsp;&nbsp; 1306817<br>| &nbsp;&nbsp;&nbsp; 1164295<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; GEO Group Inc., Term Loan (1 mo. Term SOFR + 5.250%) | 9.572% | &nbsp;&nbsp; 4/4/29 | &nbsp;&nbsp; 463291<br>| &nbsp;&nbsp;&nbsp; 470384<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; LRS Holdings LLC, Term Loan B (1 mo. Term SOFR + 4.364%) | 8.686% | &nbsp;&nbsp; 8/31/28 | &nbsp;&nbsp; 1526312<br>| &nbsp;&nbsp;&nbsp; 1413746<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; LTR Intermediate Holdings Inc., Initial Term Loan (1 mo. Term SOFR + <br> 4.614%) | 8.936% | &nbsp;&nbsp; 5/5/28 | &nbsp;&nbsp; 1223055<br>| &nbsp;&nbsp;&nbsp; 1163945<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC, Term Loan |  | &nbsp;&nbsp; 3/26/32 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 793752<br> <sup>(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Neptune Bidco US Inc., Term Loan A (3 mo. Term SOFR + 4.850%) | 9.080% | &nbsp;&nbsp; 10/11/28 | &nbsp;&nbsp; 581737<br>| &nbsp;&nbsp;&nbsp; 511722<br> <sup>(f)(k)(l)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Commercial Services & Supplies — continued* | *Commercial Services & Supplies — continued* | *Commercial Services & Supplies — continued* | *Commercial Services & Supplies — continued* | *Commercial Services & Supplies — continued* |
| &nbsp;&nbsp;&nbsp; Thermostat Purchaser III Inc., Initial Term Loan B1 (3 mo. Term SOFR + <br> 4.250%) | 8.549% | &nbsp;&nbsp; 8/31/28 | &nbsp;&nbsp; 1172270<br>| &nbsp;&nbsp;&nbsp; $1170078<br> <sup>(f)(k)(l)</sup><br>|
| *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | &nbsp;&nbsp; *6687922* |
| *Machinery — 0.5%* | *Machinery — 0.5%* | *Machinery — 0.5%* | *Machinery — 0.5%* | *Machinery — 0.5%* |
| &nbsp;&nbsp;&nbsp; Alliance Laundry Systems LLC, Initial Term Loan B (3 mo. Term SOFR + <br> 2.750%) | 7.072% | &nbsp;&nbsp; 8/19/31 | &nbsp;&nbsp; 1170043<br>| &nbsp;&nbsp;&nbsp; 1163245<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dynamo US Bidco Inc., USD Term Loan Facility B (3 mo. Term SOFR + <br> 3.500%) | 7.798% | &nbsp;&nbsp; 10/1/31 | &nbsp;&nbsp; 975100<br>| &nbsp;&nbsp;&nbsp; 972662<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Terex Corp., USD Term Loan (3 mo. Term SOFR + 2.000%) | 6.299% | &nbsp;&nbsp; 10/8/31 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 330000<br> <sup>(f)(k)(l)</sup><br>|
| *Total Machinery* | *Total Machinery* | *Total Machinery* | *Total Machinery* | &nbsp;&nbsp; *2465907* |
| *Passenger Airlines — 0.5%* | *Passenger Airlines — 0.5%* | *Passenger Airlines — 0.5%* | *Passenger Airlines — 0.5%* | *Passenger Airlines — 0.5%* |
| &nbsp;&nbsp;&nbsp; Delta Air Lines Inc., Initial Term Loan (3 mo. Term SOFR + 3.750%) | 8.022% | &nbsp;&nbsp; 10/20/27 | &nbsp;&nbsp; 1098290<br>| &nbsp;&nbsp;&nbsp; 1110190<br> <sup>(f)(k)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Airlines Inc., Term Loan B (3 mo. Term SOFR + 2.000%) | 6.275% | &nbsp;&nbsp; 2/22/31 | &nbsp;&nbsp; 1074125<br>| &nbsp;&nbsp;&nbsp; 1072954<br> <sup>(f)(k)(l)</sup><br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *2183144* |
| *Professional Services — 0.3%* | *Professional Services — 0.3%* | *Professional Services — 0.3%* | *Professional Services — 0.3%* | *Professional Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; Dayforce Inc., 2025 Term Loan |  | &nbsp;&nbsp; 2/26/31 | &nbsp;&nbsp; 353879<br>| &nbsp;&nbsp;&nbsp; 354321<br> <sup>(e)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ryan LLC, Initial Term Loan (1 mo. Term SOFR + 3.500%) | 7.822% | &nbsp;&nbsp; 11/14/30 | &nbsp;&nbsp; 919952<br>| &nbsp;&nbsp;&nbsp; 918917<br> <sup>(f)(k)(l)</sup><br>|
| *Total Professional Services* | *Total Professional Services* | *Total Professional Services* | *Total Professional Services* | &nbsp;&nbsp; *1273238* |
| *Trading Companies & Distributors — 0.2%* | *Trading Companies & Distributors — 0.2%* | *Trading Companies & Distributors — 0.2%* | *Trading Companies & Distributors — 0.2%* | *Trading Companies & Distributors — 0.2%* |
| &nbsp;&nbsp;&nbsp; BCPE Empire Holdings Inc., Amendment No. 8 Refinancing Term Loan (1 <br> mo. Term SOFR + 3.250%)  | 7.572% | &nbsp;&nbsp; 12/11/30 | &nbsp;&nbsp; 1067325<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1058125*<br> <sup>(f)(k)(l)</sup><br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **14856151** |
| **Information Technology — 3.4%** | **Information Technology — 3.4%** | **Information Technology — 3.4%** | **Information Technology — 3.4%** | **Information Technology — 3.4%** |
| *Communications Equipment — 0.3%* | *Communications Equipment — 0.3%* | *Communications Equipment — 0.3%* | *Communications Equipment — 0.3%* | *Communications Equipment — 0.3%* |
| &nbsp;&nbsp;&nbsp; Global Tel Link Corp., Initial Term Loan (1 mo. Term SOFR + 7.500%)  | 11.822% | &nbsp;&nbsp; 7/31/29 | &nbsp;&nbsp; 1442750<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1363399*<br> <sup>(f)(k)(l)</sup><br>|
| *IT Services — 1.0%* | *IT Services — 1.0%* | *IT Services — 1.0%* | *IT Services — 1.0%* | *IT Services — 1.0%* |
| &nbsp;&nbsp;&nbsp; Evertec Group LLC, Term Loan B (1 mo. Term SOFR + 2.750%) | 7.072% | &nbsp;&nbsp; 10/30/30 | &nbsp;&nbsp; 540000<br>| &nbsp;&nbsp;&nbsp; 540000<br> <sup>(e)(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Indy US Bidco LLC, Eleventh Amendment Term Loan (1 mo. Term SOFR + <br> 3.500%) | 7.822% | &nbsp;&nbsp; 3/6/28 | &nbsp;&nbsp; 1175875<br>| &nbsp;&nbsp;&nbsp; 1174405<br> <sup>(e)(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Leia Finco US LLC, Initial Term Loan (3 mo. Term SOFR + 3.250%) | 7.458% | &nbsp;&nbsp; 10/9/31 | &nbsp;&nbsp; 1170043<br>| &nbsp;&nbsp;&nbsp; 1164603<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Project Alpha Intermediate Holding Inc., First Lien Incremental Term Loan B <br> (3 mo. Term SOFR + 3.250%) | 7.549% | &nbsp;&nbsp; 10/28/30 | &nbsp;&nbsp; 985100<br>| &nbsp;&nbsp;&nbsp; 982297<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; UST Global Inc., Initial Term Loan (1 mo. Term SOFR + 3.000%) | 7.329% | &nbsp;&nbsp; 11/20/28 | &nbsp;&nbsp; 670201<br>| &nbsp;&nbsp;&nbsp; 670619<br> <sup>(f)(k)(l)</sup><br>|
| *Total IT Services* | *Total IT Services* | *Total IT Services* | *Total IT Services* | &nbsp;&nbsp; *4531924* |
| *Software — 2.1%* | *Software — 2.1%* | *Software — 2.1%* | *Software — 2.1%* | *Software — 2.1%* |
| &nbsp;&nbsp;&nbsp; CB Buyer Inc., Delayed Draw Term Loan |  | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 177153<br>| &nbsp;&nbsp;&nbsp; 176710<br> <sup>(d)(e)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; CB Buyer Inc., Initial Term Loan (3 mo. Term SOFR + 5.250%) | 9.549% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 848828<br>| &nbsp;&nbsp;&nbsp; 846707<br> <sup>(d)(e)(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cloudera Inc., Term Loan (1 mo. Term SOFR + 3.850%) | 8.172% | &nbsp;&nbsp; 10/8/28 | &nbsp;&nbsp; 628534<br>| &nbsp;&nbsp;&nbsp; 620288<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; DCert Buyer Inc., First Lien Initial Term Loan (1 mo. Term SOFR + 4.000%) | 8.322% | &nbsp;&nbsp; 10/16/26 | &nbsp;&nbsp; 485847<br>| &nbsp;&nbsp;&nbsp; 471609<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; DCert Buyer Inc., Second Lien Initial Term Loan (1 mo. Term SOFR + <br> 7.000%) | 11.322% | &nbsp;&nbsp; 2/19/29 | &nbsp;&nbsp; 1170043<br>| &nbsp;&nbsp;&nbsp; 969673<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Modena Buyer LLC, Initial Term Loan (3 mo. Term SOFR + 4.500%) | 8.780% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 1167111<br>| &nbsp;&nbsp;&nbsp; 1110214<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; MRI Software LLC, Second Amendment Term Loan (3 mo. Term SOFR + <br> 4.750%) | 9.049% | &nbsp;&nbsp; 2/10/27 | &nbsp;&nbsp; 284292<br>| &nbsp;&nbsp;&nbsp; 282870<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; MRI Software LLC, Term Loan B (3 mo. Term SOFR + 4.750%) | 9.049% | &nbsp;&nbsp; 2/10/27 | &nbsp;&nbsp; 1092300<br>| &nbsp;&nbsp;&nbsp; 1086838<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Opal US LLC, Term Loan B |  | &nbsp;&nbsp; 3/31/32 | &nbsp;&nbsp; 1060000<br>| &nbsp;&nbsp;&nbsp; 1052718<br> <sup>(m)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Software — continued* | *Software — continued* | *Software — continued* | *Software — continued* | *Software — continued* |
| &nbsp;&nbsp;&nbsp; Planview Parent Inc., 2024 Incremental Term Loan B (3 mo. Term SOFR + <br> 3.500%) | 7.799% | &nbsp;&nbsp; 12/17/27 | &nbsp;&nbsp; 792765<br>| &nbsp;&nbsp;&nbsp; $778396<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Red Planet Borrower LLC, First Lien Initial Term Loan (1 mo. Term SOFR + <br> 3.600%) | 7.922% | &nbsp;&nbsp; 10/2/28 | &nbsp;&nbsp; 477526<br>| &nbsp;&nbsp;&nbsp; 468572<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starlight Parent LLC, Term Loan (3 mo. Term SOFR + 4.000%) | 8.261% | &nbsp;&nbsp; 4/16/32 | &nbsp;&nbsp; 1462554<br>| &nbsp;&nbsp;&nbsp; 1415482<br> <sup>(f)(k)(l)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *9280077* |
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **15175400** |
| **Materials — 0.8%** | **Materials — 0.8%** | **Materials — 0.8%** | **Materials — 0.8%** | **Materials — 0.8%** |
| *Chemicals — 0.3%* | *Chemicals — 0.3%* | *Chemicals — 0.3%* | *Chemicals — 0.3%* | *Chemicals — 0.3%* |
| &nbsp;&nbsp;&nbsp; A-Ap Buyer Inc., Initial Term Loan (1 mo. Term SOFR + 2.750%) | 7.072% | &nbsp;&nbsp; 9/9/31 | &nbsp;&nbsp; 897750<br>| &nbsp;&nbsp;&nbsp; 897750<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Natgasoline LLC, Term Loan B (3 mo. Term SOFR + 5.500%) | 9.799% | &nbsp;&nbsp; 3/29/30 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp; 499163<br> <sup>(f)(k)(l)</sup><br>|
| *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | &nbsp;&nbsp; *1396913* |
| *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings Inc., 2025 Incremental Closing Date Term <br> Loan B |  | &nbsp;&nbsp; 3/26/32 | &nbsp;&nbsp; 678634<br>| &nbsp;&nbsp;&nbsp; 673972<br> <sup>(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings Inc., Delayed Draw Term Loan |  | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 12059<br>| &nbsp;&nbsp;&nbsp; 11976<br> <sup>(m)</sup><br>|
| *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | &nbsp;&nbsp; *685948* |
| *Metals & Mining — 0.3%* | *Metals & Mining — 0.3%* | *Metals & Mining — 0.3%* | *Metals & Mining — 0.3%* | *Metals & Mining — 0.3%* |
| &nbsp;&nbsp;&nbsp; Arctic Canadian Diamond Co. Ltd., Second Lien Term Loan  | 10.000% | &nbsp;&nbsp; 12/31/27 | &nbsp;&nbsp; 1373006<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1372266*<br> <sup>(d)(e)(k)(l)</sup><br>|
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **3455127** |
| **Utilities — 0.1%** | **Utilities — 0.1%** | **Utilities — 0.1%** | **Utilities — 0.1%** | **Utilities — 0.1%** |
| *Electric Utilities — 0.1%* | *Electric Utilities — 0.1%* | *Electric Utilities — 0.1%* | *Electric Utilities — 0.1%* | *Electric Utilities — 0.1%* |
| &nbsp;&nbsp;&nbsp; Alpha Generation LLC, Initial Term Loan B (1 mo. Term SOFR + 2.750%)  | 7.072% | &nbsp;&nbsp; 9/30/31 | &nbsp;&nbsp; 587050<br>| &nbsp;&nbsp;&nbsp;&nbsp; **587837**<br> <sup>(f)(k)(l)</sup><br>|
| **Sovereign Bonds — 0.3%** |  |  |  |  |
| *Tanzania — 0.3%* |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Government of the United Republic of Tanzania, Term Loan A2 (6 mo. Term <br> SOFR + 5.450%)  | 9.584% | &nbsp;&nbsp; 4/29/31 | &nbsp;&nbsp; 1540000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **1511125**<br> <sup>(d)(e)(f)(k)(l)</sup><br>|
| **Total Senior Loans (Cost — $99,979,665)** | **Total Senior Loans (Cost — $99,979,665)** | **Total Senior Loans (Cost — $99,979,665)** | **Total Senior Loans (Cost — $99,979,665)** | &nbsp;&nbsp; **94141422** |
|  |  |  | &nbsp;&nbsp; Face <br>Amount†/ <br>Units<br>|  |
| **Asset-Backed Securities — 11.4%** | **Asset-Backed Securities — 11.4%** | **Asset-Backed Securities — 11.4%** | **Asset-Backed Securities — 11.4%** | **Asset-Backed Securities — 11.4%** |
| &nbsp;&nbsp;&nbsp; 720 East CLO Ltd., 2025-7A E (3 mo. Term SOFR + 4.750%) | &nbsp;&nbsp; 9.031% | &nbsp;&nbsp; 4/20/37 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 609699<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; AMMC CLO Ltd., 2022-27A DR (3 mo. Term SOFR + 2.700%) | &nbsp;&nbsp; 6.969% | &nbsp;&nbsp; 1/20/37 | &nbsp;&nbsp; 490000<br>| &nbsp;&nbsp;&nbsp; 481425<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; AMMC CLO Ltd., 2024-30A D (3 mo. Term SOFR + 4.500%) | &nbsp;&nbsp; 8.756% | &nbsp;&nbsp; 1/15/37 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 984965<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apidos CLO Ltd., 2015-22A DR (3 mo. Term SOFR + 7.012%) | &nbsp;&nbsp; 11.281% | &nbsp;&nbsp; 4/20/31 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1002670<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ares CLO Ltd., 2017-44A CR (3 mo. Term SOFR + 3.662%) | &nbsp;&nbsp; 7.918% | &nbsp;&nbsp; 4/15/34 | &nbsp;&nbsp; 1500000<br>| &nbsp;&nbsp;&nbsp; 1494953<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Blueberry Park CLO Ltd., 2024-1A D1 (3 mo. Term SOFR + 2.900%) | &nbsp;&nbsp; 7.169% | &nbsp;&nbsp; 10/20/37 | &nbsp;&nbsp; 1430000<br>| &nbsp;&nbsp;&nbsp; 1415397<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BlueMountain CLO Ltd., 2021-31A E (3 mo. Term SOFR + 6.792%) | &nbsp;&nbsp; 11.061% | &nbsp;&nbsp; 4/19/34 | &nbsp;&nbsp; 1380000<br>| &nbsp;&nbsp;&nbsp; 1342298<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bravo Mortgage Asset Trust, 2006-1A M1 (1 mo. Term SOFR + 0.714%) | &nbsp;&nbsp; 5.041% | &nbsp;&nbsp; 7/25/36 | &nbsp;&nbsp; 2073646<br>| &nbsp;&nbsp;&nbsp; 1832884<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; CIFC Funding Ltd., 2017-3A D1R (3 mo. Term SOFR + 3.700%) | &nbsp;&nbsp; 7.969% | &nbsp;&nbsp; 4/20/37 | &nbsp;&nbsp; 790000<br>| &nbsp;&nbsp;&nbsp; 789950<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dryden Senior Loan Fund, 2017-49A DR (3 mo. Term SOFR + 3.662%) | &nbsp;&nbsp; 7.931% | &nbsp;&nbsp; 7/18/30 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 741646<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Franklin Mortgage Loan Trust, 2003-FF4 M1 (1 mo. Term SOFR + <br> 1.914%) | &nbsp;&nbsp; 6.238% | &nbsp;&nbsp; 10/25/33 | &nbsp;&nbsp; 350101<br>| &nbsp;&nbsp;&nbsp; 342409<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fortress Credit BSL Ltd., 2021-4A E (3 mo. Term SOFR + 7.392%) | &nbsp;&nbsp; 11.648% | &nbsp;&nbsp; 10/15/34 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 987397<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Galaxy CLO Ltd., 2018-26A DR (3 mo. Term SOFR + 2.950%) | &nbsp;&nbsp; 7.279% | &nbsp;&nbsp; 11/22/31 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 1015967<br> <sup>(a)(f)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†/<br> Units<br>| Value |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management US CLO Ltd., 2019-6A ER2 (3 mo. Term SOFR <br> + 4.500%) | &nbsp;&nbsp; 8.769% | &nbsp;&nbsp; 4/20/35 | &nbsp;&nbsp; 450000<br>| &nbsp;&nbsp;&nbsp; $437287<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO Ltd., 2021-53A ER (3 mo. Term SOFR + 4.700%) | &nbsp;&nbsp; 9.011% | &nbsp;&nbsp; 7/20/34 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 961129<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO Ltd., 2024-76A D1 (3 mo. Term SOFR + 2.900%) | &nbsp;&nbsp; 7.182% | &nbsp;&nbsp; 10/25/37 | &nbsp;&nbsp; 1060000<br>| &nbsp;&nbsp;&nbsp; 1039550<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Greywolf CLO Ltd., 2019-1A CR (3 mo. Term SOFR + 3.910%) | &nbsp;&nbsp; 8.190% | &nbsp;&nbsp; 4/17/34 | &nbsp;&nbsp; 1520000<br>| &nbsp;&nbsp;&nbsp; 1526591<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Hayfin US Ltd., 2024-15A D1 (3 mo. Term SOFR + 4.260%) | &nbsp;&nbsp; 8.543% | &nbsp;&nbsp; 4/28/37 | &nbsp;&nbsp; 1680000<br>| &nbsp;&nbsp;&nbsp; 1679981<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Home Equity Asset Trust, 2005-6 M5 (1 mo. Term SOFR + 1.059%) | &nbsp;&nbsp; 5.386% | &nbsp;&nbsp; 12/25/35 | &nbsp;&nbsp; 1190000<br>| &nbsp;&nbsp;&nbsp; 1133019<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Horizon Aircraft Finance Ltd., 2019-2 A | &nbsp;&nbsp; 3.425% | &nbsp;&nbsp; 11/15/39 | &nbsp;&nbsp; 639652<br>| &nbsp;&nbsp;&nbsp; 610500<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Huntington Bank Auto Credit-Linked Notes, 2025-1 D (30 Day Average <br> SOFR + 3.500%) | &nbsp;&nbsp; 7.850% | &nbsp;&nbsp; 3/21/33 | &nbsp;&nbsp; 923989<br>| &nbsp;&nbsp;&nbsp; 914775<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Katayma CLO Ltd., 2023-1A D (3 mo. Term SOFR + 5.250%) | &nbsp;&nbsp; 9.519% | &nbsp;&nbsp; 10/20/36 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp; 341848<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; KKR CLO Ltd., 17 ER (3 mo. Term SOFR + 7.652%) | &nbsp;&nbsp; 11.908% | &nbsp;&nbsp; 4/15/34 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 676805<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Long Beach Mortgage Loan Trust, 2005-1 M4 (1 mo. Term SOFR + 1.389%) | &nbsp;&nbsp; 5.716% | &nbsp;&nbsp; 2/25/35 | &nbsp;&nbsp; 1330717<br>| &nbsp;&nbsp;&nbsp; 1296583<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Madison Park Funding Ltd., 2016-24A DR2 (3 mo. Term SOFR + 2.950%) | &nbsp;&nbsp; 7.219% | &nbsp;&nbsp; 10/20/29 | &nbsp;&nbsp; 1510000<br>| &nbsp;&nbsp;&nbsp; 1508145<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2019-22A DRR (3 mo. Term SOFR + 2.900%) | &nbsp;&nbsp; 7.156% | &nbsp;&nbsp; 7/15/36 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 999674<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mastr Asset Backed Securities Trust, 2007-HE2 A1 (1 mo. Term SOFR + <br> 1.264%) | &nbsp;&nbsp; 5.591% | &nbsp;&nbsp; 8/25/37 | &nbsp;&nbsp; 1486479<br>| &nbsp;&nbsp;&nbsp; 1277811<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley ABS Capital Inc. Trust, 2004-NC2 M1 (1 mo. Term SOFR + <br> 0.939%) | &nbsp;&nbsp; 5.266% | &nbsp;&nbsp; 12/25/33 | &nbsp;&nbsp; 1212456<br>| &nbsp;&nbsp;&nbsp; 1205028<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley ABS Capital Inc. Trust, 2004-NC4 M1 (1 mo. Term SOFR + <br> 0.924%) | &nbsp;&nbsp; 5.251% | &nbsp;&nbsp; 4/25/34 | &nbsp;&nbsp; 1441576<br>| &nbsp;&nbsp;&nbsp; 1449521<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mountain View CLO Ltd., 2015-9A CR (3 mo. Term SOFR + 3.382%) | &nbsp;&nbsp; 7.638% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 580000<br>| &nbsp;&nbsp;&nbsp; 574339<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; National Collegiate Student Loan Trust, 2005-1 B (1 mo. Term SOFR + <br> 0.494%) | &nbsp;&nbsp; 4.821% | &nbsp;&nbsp; 3/26/35 | &nbsp;&nbsp; 647633<br>| &nbsp;&nbsp;&nbsp; 586987<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; National Collegiate Student Loan Trust, 2005-3 B (1 mo. Term SOFR + <br> 0.614%) | &nbsp;&nbsp; 4.941% | &nbsp;&nbsp; 7/27/37 | &nbsp;&nbsp; 1468151<br>| &nbsp;&nbsp;&nbsp; 1209018<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; National Collegiate Student Loan Trust, 2007-2 A4 (1 mo. Term SOFR + <br> 0.404%) | &nbsp;&nbsp; 4.731% | &nbsp;&nbsp; 1/25/33 | &nbsp;&nbsp; 298775<br>| &nbsp;&nbsp;&nbsp; 291283<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; NMEF Funding LLC, 2025-A D | &nbsp;&nbsp; 8.070% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 785435<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ocean Trails CLO Ltd., 2020-10A ER (3 mo. Term SOFR + 7.832%) | &nbsp;&nbsp; 12.088% | &nbsp;&nbsp; 10/15/34 | &nbsp;&nbsp; 1750000<br>| &nbsp;&nbsp;&nbsp; 1710118<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; OCP CLO Ltd., 2023-26A ER (3 mo. Term SOFR + 4.450%) | &nbsp;&nbsp; 8.769% | &nbsp;&nbsp; 4/17/37 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 956107<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; OHA Credit Funding Ltd., 2022-11A D1R (3 mo. Term SOFR + 2.850%) | &nbsp;&nbsp; 7.119% | &nbsp;&nbsp; 7/19/37 | &nbsp;&nbsp; 1680000<br>| &nbsp;&nbsp;&nbsp; 1673661<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Option One Mortgage Loan Trust, 2005-3 M4 (1 mo. Term SOFR + 1.044%) | &nbsp;&nbsp; 5.371% | &nbsp;&nbsp; 8/25/35 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 878561<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., 2022-3A CR (3 mo. Term SOFR + 3.000%) | &nbsp;&nbsp; 7.256% | &nbsp;&nbsp; 4/15/31 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 1360354<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., 2024-3A C (3 mo. Term SOFR + 2.950%) | &nbsp;&nbsp; 7.247% | &nbsp;&nbsp; 8/8/32 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1095855<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Peace Park CLO Ltd., 2021-1A E (3 mo. Term SOFR + 6.262%) | &nbsp;&nbsp; 10.531% | &nbsp;&nbsp; 10/20/34 | &nbsp;&nbsp; 1250000<br>| &nbsp;&nbsp;&nbsp; 1205396<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Pioneer Aircraft Finance Ltd., 2019-1 A | &nbsp;&nbsp; 3.967% | &nbsp;&nbsp; 6/15/44 | &nbsp;&nbsp; 723576<br>| &nbsp;&nbsp;&nbsp; 702752<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Popular ABS Mortgage Pass-Through Trust, 2005-2 M2 | &nbsp;&nbsp; 6.217% | &nbsp;&nbsp; 4/25/35 | &nbsp;&nbsp; 1248008<br>| &nbsp;&nbsp;&nbsp; 1055374<br>|
| &nbsp;&nbsp;&nbsp; Renew, 2024-1A B | &nbsp;&nbsp; 9.001% | &nbsp;&nbsp; 11/20/59 | &nbsp;&nbsp; 1037302<br>| &nbsp;&nbsp;&nbsp; 1038329<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SMB Private Education Loan Trust, 2015-C R | &nbsp;&nbsp; 16.775% | &nbsp;&nbsp; 9/18/46 | &nbsp;&nbsp; 1092<br>| &nbsp;&nbsp;&nbsp; 273030<br> <sup>(a)(o)</sup><br>|
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Mortgage Loan Trust, 2006-ARS1 A1 (1 <br> mo. Term SOFR + 0.334%) | &nbsp;&nbsp; 4.661% | &nbsp;&nbsp; 2/25/36 | &nbsp;&nbsp; 3092282<br>| &nbsp;&nbsp;&nbsp; 57527<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sunnova Hellios Issuer LLC, 2019-AA C | &nbsp;&nbsp; 5.320% | &nbsp;&nbsp; 6/20/46 | &nbsp;&nbsp; 1565871<br>| &nbsp;&nbsp;&nbsp; 1297571<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Symphony CLO Ltd., 2018-20A E (3 mo. Term SOFR + 6.552%) | &nbsp;&nbsp; 10.812% | &nbsp;&nbsp; 1/16/32 | &nbsp;&nbsp; 2250000<br>| &nbsp;&nbsp;&nbsp; 2195542<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; TCI-Symphony CLO Ltd., 2016-1A DR2 (3 mo. Term SOFR + 3.362%) | &nbsp;&nbsp; 7.603% | &nbsp;&nbsp; 10/13/32 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 474882<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; VR Funding LLC, 2020-1A B | &nbsp;&nbsp; 4.220% | &nbsp;&nbsp; 11/15/50 | &nbsp;&nbsp; 771556<br>| &nbsp;&nbsp;&nbsp; 761428<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†/<br> Units<br>| Value |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; Whitehorse Ltd., 2018-12A D (3 mo. Term SOFR + 3.912%) | &nbsp;&nbsp; 8.168% | &nbsp;&nbsp; 10/15/31 | &nbsp;&nbsp; 790000<br>| &nbsp;&nbsp;&nbsp; $793644<br> <sup>(a)(f)</sup><br>|
| **Total Asset-Backed Securities (Cost — $56,437,195)** | **Total Asset-Backed Securities (Cost — $56,437,195)** | **Total Asset-Backed Securities (Cost — $56,437,195)** | **Total Asset-Backed Securities (Cost — $56,437,195)** | &nbsp;&nbsp; **51077100** |
|  |  |  | &nbsp;&nbsp; Face <br>Amount†<br>|  |
| **Sovereign Bonds — 5.6%** | **Sovereign Bonds — 5.6%** | **Sovereign Bonds — 5.6%** | **Sovereign Bonds — 5.6%** | **Sovereign Bonds — 5.6%** |
| *Angola — 0.1%* | *Angola — 0.1%* | *Angola — 0.1%* | *Angola — 0.1%* | *Angola — 0.1%* |
| &nbsp;&nbsp;&nbsp; Angolan Government International Bond, Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 4/14/32 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *606369*<br> <sup>(a)</sup><br>|
| *Argentina — 0.4%* | *Argentina — 0.4%* | *Argentina — 0.4%* | *Argentina — 0.4%* | *Argentina — 0.4%* |
| &nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond, Senior Notes, Step <br> bond (0.750% to 7/9/27 then 1.750%) | &nbsp;&nbsp; 0.750% | &nbsp;&nbsp; 7/9/30 | &nbsp;&nbsp; 179413<br>| &nbsp;&nbsp;&nbsp; 137699<br>|
| &nbsp;&nbsp;&nbsp; Provincia de Buenos Aires, Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 9/1/37 | &nbsp;&nbsp; 1396174<br>| &nbsp;&nbsp;&nbsp; 940672<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Provincia de Cordoba, Senior Notes | &nbsp;&nbsp; 6.990% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; 637561<br>| &nbsp;&nbsp;&nbsp; 613653<br> <sup>(a)</sup><br>|
| *Total Argentina* | *Total Argentina* | *Total Argentina* | *Total Argentina* | &nbsp;&nbsp; *1692024* |
| *Bahamas — 0.2%* | *Bahamas — 0.2%* | *Bahamas — 0.2%* | *Bahamas — 0.2%* | *Bahamas — 0.2%* |
| &nbsp;&nbsp;&nbsp; Bahamas Government International Bond, Senior Notes | &nbsp;&nbsp; 8.950% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *919705*<br> <sup>(c)</sup><br>|
| *Brazil — 0.8%* | *Brazil — 0.8%* | *Brazil — 0.8%* | *Brazil — 0.8%* | *Brazil — 0.8%* |
| &nbsp;&nbsp;&nbsp; Brazil Letras do Tesouro Nacional | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 1/1/26 | &nbsp;&nbsp; 5354000 <br><sup>BRL</sup><br>| &nbsp;&nbsp;&nbsp; 859943<br>|
| &nbsp;&nbsp;&nbsp; Brazil Notas do Tesouro Nacional Serie F, Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 1/1/31 | &nbsp;&nbsp; 18652000 <br><sup>BRL</sup><br>| &nbsp;&nbsp;&nbsp; 2812187<br>|
| *Total Brazil* | *Total Brazil* | *Total Brazil* | *Total Brazil* | &nbsp;&nbsp; *3672130* |
| *Dominican Republic — 0.1%* | *Dominican Republic — 0.1%* | *Dominican Republic — 0.1%* | *Dominican Republic — 0.1%* | *Dominican Republic — 0.1%* |
| &nbsp;&nbsp;&nbsp; Dominican Republic International Bond, Senior Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 9/23/32 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *459127*<br> <sup>(c)</sup><br>|
| *Ecuador — 0.0%††* | *Ecuador — 0.0%††* | *Ecuador — 0.0%††* | *Ecuador — 0.0%††* | *Ecuador — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Ecuador Government International Bond, Senior Notes, Step bond (5.500% <br> to 7/31/25 then 6.900%) | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 7/31/35 | &nbsp;&nbsp; 239403<br>| &nbsp;&nbsp;&nbsp;&nbsp; *144374*<br> <sup>(c)</sup><br>|
| *Egypt — 0.1%* | *Egypt — 0.1%* | *Egypt — 0.1%* | *Egypt — 0.1%* | *Egypt — 0.1%* |
| &nbsp;&nbsp;&nbsp; Egypt Government International Bond, Senior Notes | &nbsp;&nbsp; 7.053% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *551739*<br> <sup>(c)</sup><br>|
| *El Salvador — 0.2%* | *El Salvador — 0.2%* | *El Salvador — 0.2%* | *El Salvador — 0.2%* | *El Salvador — 0.2%* |
| &nbsp;&nbsp;&nbsp; El Salvador Government International Bond, Senior Notes | &nbsp;&nbsp; 9.650% | &nbsp;&nbsp; 11/21/54 | &nbsp;&nbsp; 730000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *727146*<br> <sup>(a)</sup><br>|
| *Ethiopia — 0.1%* | *Ethiopia — 0.1%* | *Ethiopia — 0.1%* | *Ethiopia — 0.1%* | *Ethiopia — 0.1%* |
| &nbsp;&nbsp;&nbsp; Ethiopia International Bond, Senior Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 12/11/24 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp; *428,686*<br> \*<sup>(c)(i)</sup><br>|
| *Ghana — 0.1%* | *Ghana — 0.1%* | *Ghana — 0.1%* | *Ghana — 0.1%* | *Ghana — 0.1%* |
| &nbsp;&nbsp;&nbsp; Ghana Government International Bond, Senior Notes, Step bond (5.000% to <br> 7/3/28 then 6.000%) | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/3/35 | &nbsp;&nbsp; 411560<br>| &nbsp;&nbsp;&nbsp;&nbsp; *280056*<br> <sup>(a)</sup><br>|
| *Ivory Coast — 0.2%* | *Ivory Coast — 0.2%* | *Ivory Coast — 0.2%* | *Ivory Coast — 0.2%* | *Ivory Coast — 0.2%* |
| &nbsp;&nbsp;&nbsp; Ivory Coast Government International Bond, Senior Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 1/30/33 | &nbsp;&nbsp; 810000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *764640*<br> <sup>(a)</sup><br>|
| *Jamaica — 0.2%* | *Jamaica — 0.2%* | *Jamaica — 0.2%* | *Jamaica — 0.2%* | *Jamaica — 0.2%* |
| &nbsp;&nbsp;&nbsp; Jamaica Government International Bond, Senior Notes | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp; 11/3/30 | &nbsp;&nbsp; 110000000 <br><sup>JMD</sup><br>| &nbsp;&nbsp;&nbsp; *724428*<br>|
| *Jordan — 0.2%* | *Jordan — 0.2%* | *Jordan — 0.2%* | *Jordan — 0.2%* | *Jordan — 0.2%* |
| &nbsp;&nbsp;&nbsp; Jordan Government International Bond, Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 720000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *730782*<br> <sup>(a)</sup><br>|
| *Kenya — 0.2%* | *Kenya — 0.2%* | *Kenya — 0.2%* | *Kenya — 0.2%* | *Kenya — 0.2%* |
| &nbsp;&nbsp;&nbsp; Republic of Kenya Government International Bond, Senior Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 2/16/31 | &nbsp;&nbsp; 840000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *801673*<br> <sup>(a)</sup><br>|
| *Mexico — 1.1%* | *Mexico — 1.1%* | *Mexico — 1.1%* | *Mexico — 1.1%* | *Mexico — 1.1%* |
| &nbsp;&nbsp;&nbsp; Mexican Bonos, Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 11/23/34 | &nbsp;&nbsp; 82720000 <br><sup>MXN</sup><br>| &nbsp;&nbsp;&nbsp; 3815945<br>|
| &nbsp;&nbsp;&nbsp; Mexico Government International Bond, Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 5/7/36 | &nbsp;&nbsp; 1020000<br>| &nbsp;&nbsp;&nbsp; 974068<br>|
| *Total Mexico* | *Total Mexico* | *Total Mexico* | *Total Mexico* | &nbsp;&nbsp; *4790013* |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Mozambique — 0.1%* | *Mozambique — 0.1%* | *Mozambique — 0.1%* | *Mozambique — 0.1%* | *Mozambique — 0.1%* |
| &nbsp;&nbsp;&nbsp; Mozambique International Bond, Senior Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; $*315157*<br> <sup>(c)</sup><br>|
| *Nigeria — 0.1%* | *Nigeria — 0.1%* | *Nigeria — 0.1%* | *Nigeria — 0.1%* | *Nigeria — 0.1%* |
| &nbsp;&nbsp;&nbsp; Nigeria Government International Bond, Senior Notes | &nbsp;&nbsp; 7.143% | &nbsp;&nbsp; 2/23/30 | &nbsp;&nbsp; 720000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *631656*<br> <sup>(c)</sup><br>|
| *Romania — 0.1%* | *Romania — 0.1%* | *Romania — 0.1%* | *Romania — 0.1%* | *Romania — 0.1%* |
| &nbsp;&nbsp;&nbsp; Romanian Government International Bond, Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/10/37 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *507960*<br> <sup>(a)</sup><br>|
| *Senegal — 0.1%* | *Senegal — 0.1%* | *Senegal — 0.1%* | *Senegal — 0.1%* | *Senegal — 0.1%* |
| &nbsp;&nbsp;&nbsp; Senegal Government International Bond, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 5/23/33 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *348816*<br> <sup>(c)</sup><br>|
| *Sri Lanka — 0.0%††* | *Sri Lanka — 0.0%††* | *Sri Lanka — 0.0%††* | *Sri Lanka — 0.0%††* | *Sri Lanka — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 4/15/28 | &nbsp;&nbsp; 46815<br>| &nbsp;&nbsp;&nbsp; 43531<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, Senior Notes, Step bond (3.100% <br> to 7/15/27 then 3.350%) | &nbsp;&nbsp; 3.100% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 13867<br>| &nbsp;&nbsp;&nbsp; 11267<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, Senior Notes, Step bond (3.350% <br> to 9/15/27 then 3.600%) | &nbsp;&nbsp; 3.350% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 105659<br>| &nbsp;&nbsp;&nbsp; 73961<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, Senior Notes, Step bond (3.600% <br> to 12/15/27 then 5.100%) | &nbsp;&nbsp; 3.600% | &nbsp;&nbsp; 6/15/35 | &nbsp;&nbsp; 71344<br>| &nbsp;&nbsp;&nbsp; 46547<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, Senior Notes, Step bond (3.600% <br> to 8/15/27 then 3.850%) | &nbsp;&nbsp; 3.600% | &nbsp;&nbsp; 2/15/38 | &nbsp;&nbsp; 99070<br>| &nbsp;&nbsp;&nbsp; 70093<br> <sup>(a)</sup><br>|
| *Total Sri Lanka* | *Total Sri Lanka* | *Total Sri Lanka* | *Total Sri Lanka* | &nbsp;&nbsp; *245399* |
| *Supranational — 1.0%* | *Supranational — 1.0%* | *Supranational — 1.0%* | *Supranational — 1.0%* | *Supranational — 1.0%* |
| &nbsp;&nbsp;&nbsp; Inter-American Development Bank, Senior Notes | &nbsp;&nbsp; 7.350% | &nbsp;&nbsp; 10/6/30 | &nbsp;&nbsp; 378000000 <br><sup>INR</sup><br>| &nbsp;&nbsp;&nbsp; *4616204*<br>|
| *Ukraine — 0.2%* | *Ukraine — 0.2%* | *Ukraine — 0.2%* | *Ukraine — 0.2%* | *Ukraine — 0.2%* |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, Senior Notes, Step bond (0.000% <br> to 2/1/27 then 3.000%) | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 1<br>| &nbsp;&nbsp;&nbsp; 0<br> <sup>(c)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, Senior Notes, Step bond (0.000% <br> to 2/1/27 then 3.000%) | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 2/1/34 | &nbsp;&nbsp; 335938<br>| &nbsp;&nbsp;&nbsp; 129311<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, Senior Notes, Step bond (1.750% <br> to 8/1/25 then 4.500%) | &nbsp;&nbsp; 1.750% | &nbsp;&nbsp; 2/1/34 | &nbsp;&nbsp; 329149<br>| &nbsp;&nbsp;&nbsp; 165710<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, Senior Notes, Step bond (0.000% <br> to 2/1/27 then 3.000%) | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 2/1/35 | &nbsp;&nbsp; 283891<br>| &nbsp;&nbsp;&nbsp; 144031<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, Senior Notes, Step bond (1.750% <br> to 8/1/25 then 4.500%) | &nbsp;&nbsp; 1.750% | &nbsp;&nbsp; 2/1/35 | &nbsp;&nbsp; 576012<br>| &nbsp;&nbsp;&nbsp; 285134<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, Senior Notes, Step bond (1.750% <br> to 8/1/25 then 4.500%) | &nbsp;&nbsp; 1.750% | &nbsp;&nbsp; 2/1/36 | &nbsp;&nbsp; 740586<br>| &nbsp;&nbsp;&nbsp; 359646<br> <sup>(c)</sup><br>|
| *Total Ukraine* | *Total Ukraine* | *Total Ukraine* | *Total Ukraine* | &nbsp;&nbsp; *1083832* |
| **Total Sovereign Bonds (Cost — $25,670,395)** | **Total Sovereign Bonds (Cost — $25,670,395)** | **Total Sovereign Bonds (Cost — $25,670,395)** | **Total Sovereign Bonds (Cost — $25,670,395)** | &nbsp;&nbsp; **25041916** |
|  |  |  | Shares |  |
| **Common Stocks — 0.2%** | **Common Stocks — 0.2%** | **Common Stocks — 0.2%** | **Common Stocks — 0.2%** | **Common Stocks — 0.2%** |
| **Industrials — 0.2%** | **Industrials — 0.2%** | **Industrials — 0.2%** | **Industrials — 0.2%** | **Industrials — 0.2%** |
| *Passenger Airlines — 0.2%* | *Passenger Airlines — 0.2%* | *Passenger Airlines — 0.2%* | *Passenger Airlines — 0.2%* | *Passenger Airlines — 0.2%* |
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC | &nbsp;&nbsp;&nbsp; Spirit Airlines LLC |  | &nbsp;&nbsp; 603 | &nbsp;&nbsp;&nbsp; 5,035<br> \*<sup>(d)(p)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Aviation Holdings Inc. | &nbsp;&nbsp;&nbsp; Spirit Aviation Holdings Inc. |  | &nbsp;&nbsp; 104017 | &nbsp;&nbsp;&nbsp; 868,542<br> \*<br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **873577** |
| **Materials — 0.0%††** | **Materials — 0.0%††** | **Materials — 0.0%††** | **Materials — 0.0%††** | **Materials — 0.0%††** |
| *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Arctic Canadian Diamond Co. Ltd. | &nbsp;&nbsp;&nbsp; Arctic Canadian Diamond Co. Ltd. |  | &nbsp;&nbsp; 1388 | &nbsp;&nbsp;&nbsp; **41,363**<br> \*<sup>(d)(e)</sup><br>|
| **Total Common Stocks (Cost — $1,460,945)** | **Total Common Stocks (Cost — $1,460,945)** | **Total Common Stocks (Cost — $1,460,945)** | **Total Common Stocks (Cost — $1,460,945)** | &nbsp;&nbsp;&nbsp; **914940**<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Security |  |  | &nbsp;&nbsp; Expiration <br>Date<br>| Warrants | Value |
| **Warrants — 0.1%** | **Warrants — 0.1%** | **Warrants — 0.1%** | **Warrants — 0.1%** | **Warrants — 0.1%** | **Warrants — 0.1%** |
| **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** | **Industrials — 0.1%** |
| *Passenger Airlines — 0.1%* | *Passenger Airlines — 0.1%* | *Passenger Airlines — 0.1%* | *Passenger Airlines — 0.1%* | *Passenger Airlines — 0.1%* | *Passenger Airlines — 0.1%* |
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC (Cost — $899,660) | &nbsp;&nbsp;&nbsp; Spirit Airlines LLC (Cost — $899,660) |  | &nbsp;&nbsp; 3/12/30 | &nbsp;&nbsp; 73904<br>| &nbsp;&nbsp;&nbsp; **$617,098**<br> \*<sup>(a)(d)(p)</sup><br>|
|  |  | Rate | &nbsp;&nbsp; Maturity <br>Date<br>| &nbsp;&nbsp; Face <br>Amount†<br>|  |
| **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** | **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** | **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** | **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** | **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** | **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** |
| *Uruguay — 0.0%††* | *Uruguay — 0.0%††* | *Uruguay — 0.0%††* | *Uruguay — 0.0%††* | *Uruguay — 0.0%††* | *Uruguay — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Uruguay Government International Bond, Senior Notes (Cost — $155,803) | &nbsp;&nbsp;&nbsp; Uruguay Government International Bond, Senior Notes (Cost — $155,803) | &nbsp;&nbsp; 3.400% | &nbsp;&nbsp; 5/16/45 | &nbsp;&nbsp; 6027267 <br><sup>UYU</sup><br>| &nbsp;&nbsp;&nbsp; **143269**<br>|
|  | Counterparty | Expiration <br>Date<br>| Contracts | &nbsp;&nbsp; Notional <br>Amount†<br>|  |
| **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** |
| **OTC Purchased Options — 0.0%††** | **OTC Purchased Options — 0.0%††** | **OTC Purchased Options — 0.0%††** | **OTC Purchased Options — 0.0%††** | **OTC Purchased Options — 0.0%††** | **OTC Purchased Options — 0.0%††** |
| &nbsp;&nbsp;&nbsp; Credit default swaption to buy protection on Markit <br> CDX.NA.HY.44 Index, Call @ 102.500<sup>bps</sup>, 500.000<sup>bps</sup> <br> quarterly payments received by the Fund, maturing on <br> 6/20/30<br>| Goldman Sachs <br> Group Inc.<br>| 6/18/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 44652<br>|
| &nbsp;&nbsp;&nbsp; Credit default swaption to buy protection on Markit <br> CDX.NA.HY.44 Index, Call @ 104.500<sup>bps</sup>, 500.000<sup>bps</sup> <br> quarterly payments received by the Fund, maturing on <br> 6/20/30<br>| BNP Paribas SA | 6/18/25 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 14065<br>|
| &nbsp;&nbsp;&nbsp; U.S. Dollar/Swiss Franc, Call @ 0.836<sup>CHF</sup> <br>| Bank of America <br> N.A.<br>| 7/11/25 | &nbsp;&nbsp; 3671000 | &nbsp;&nbsp; 3671000 | &nbsp;&nbsp;&nbsp; 30991<br>|
| **Total Purchased Options (Cost — $89,534)** | **Total Purchased Options (Cost — $89,534)** | **Total Purchased Options (Cost — $89,534)** | **Total Purchased Options (Cost — $89,534)** | **Total Purchased Options (Cost — $89,534)** | &nbsp;&nbsp; **89708** |
|  |  | Rate | &nbsp;&nbsp; Maturity <br>Date<br>| &nbsp;&nbsp; Face <br>Amount†<br>|  |
| **Mortgage-Backed Securities — 0.0%††** | **Mortgage-Backed Securities — 0.0%††** | **Mortgage-Backed Securities — 0.0%††** | **Mortgage-Backed Securities — 0.0%††** | **Mortgage-Backed Securities — 0.0%††** | **Mortgage-Backed Securities — 0.0%††** |
| *FHLMC — 0.0%††* | *FHLMC — 0.0%††* | *FHLMC — 0.0%††* | *FHLMC — 0.0%††* | *FHLMC — 0.0%††* | *FHLMC — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Gold (Cost — $1,494) | &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Gold (Cost — $1,494) | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 1491<br>| &nbsp;&nbsp;&nbsp; **1504**<br>|
| **Total Investments before Short-Term Investments (Cost — $451,061,503)** | **Total Investments before Short-Term Investments (Cost — $451,061,503)** | **Total Investments before Short-Term Investments (Cost — $451,061,503)** | **Total Investments before Short-Term Investments (Cost — $451,061,503)** | **Total Investments before Short-Term Investments (Cost — $451,061,503)** | &nbsp;&nbsp; **425525333** |
|  |  |  |  | Shares |  |
| **Short-Term Investments — 0.4%** | **Short-Term Investments — 0.4%** | **Short-Term Investments — 0.4%** | **Short-Term Investments — 0.4%** | **Short-Term Investments — 0.4%** | **Short-Term Investments — 0.4%** |
| &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium <br> Shares (Cost — $1,792,723)  | &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium <br> Shares (Cost — $1,792,723)  | &nbsp;&nbsp; 4.312% |  | &nbsp;&nbsp; 1792723<br>| &nbsp;&nbsp;&nbsp;&nbsp; **1792723**<br> <sup>(q)(r)</sup><br>|
| **Total Investments — 95.2% (Cost — $452,854,226)** | **Total Investments — 95.2% (Cost — $452,854,226)** | **Total Investments — 95.2% (Cost — $452,854,226)** | **Total Investments — 95.2% (Cost — $452,854,226)** | **Total Investments — 95.2% (Cost — $452,854,226)** | &nbsp;&nbsp; **427318056** |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 4.8% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 4.8% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 4.8% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 4.8% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 4.8% | &nbsp;&nbsp;&nbsp; 21335057 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$448653113** |

---

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

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

---

| | |
|:---|:---|
| † | Face amount/notional amount denominated in U.S. dollars, unless otherwise noted. |
| †† | Represents less than 0.1%. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees. <br>|
| <sup>(b)</sup> | Payment-in-kind security for which the issuer has the option at each interest payment date of making interest payments in cash or additional securities.  |
| <sup>(c)</sup> | Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of <br> the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the <br> Board of Trustees.<br>|
| <sup>(d)</sup> | Security is fair valued in accordance with procedures approved by the Board of Trustees (Note 1). |
| <sup>(e)</sup> | Security is valued using significant unobservable inputs (Note 1). |
| <sup>(f)</sup> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a <br> reference rate and spread in their description above.<br>|
| <sup>(g)</sup> | Security has no maturity date. The date shown represents the next call date. |
| <sup>(h)</sup> | Value is less than $1. |
| <sup>(i)</sup> | The maturity principal is currently in default as of April 30, 2025. |
| <sup>(j)</sup> | Collateralized mortgage obligations are secured by an underlying pool of mortgages or mortgage pass-through certificates that are structured to direct <br> payments on underlying collateral to different series or classes of the obligations. The interest rate may change positively or inversely in relation to one or <br> more interest rates, financial indices or other financial indicators and may be subject to an upper and/or lower limit.<br>|
| <sup>(k)</sup> | Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan. |
| <sup>(l)</sup> | Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower <br> prior to the disposition of a senior loan. <br>|
| <sup>(m)</sup> | All or a portion of this loan has not settled as of April 30, 2025. Interest rates are not effective until settlement date. Interest rates shown, if any, are for the <br> settled portion of the loan.<br>|
| <sup>(n)</sup> | All or a portion of this loan is unfunded as of April 30, 2025. The interest rate for fully unfunded term loans is to be determined. At April 30, 2025, the total <br> principal amount and market value of unfunded commitments totaled $177,153 and $176,710, respectively.<br>|
| <sup>(o)</sup> | Rate shown is the current yield based on income received over the trailing twelve months. |
| <sup>(p)</sup> | Restricted security (Note 3). |
| <sup>(q)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |
| <sup>(r)</sup> | In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company" represents Fund ownership of at least 5% of the outstanding <br> voting securities of an issuer, or a company which is under common ownership or control with the Fund. At April 30, 2025, the total market value of <br> investments in Affiliated Companies was $1,792,723 and the cost was $1,792,723 (Note 2).<br>|

---

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

---

| | |
|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| bps | basis points (100 basis points = 1.00%) |
| BRL | Brazilian Real |
| CAS | Connecticut Avenue Securities |
| CHF | Swiss Franc |
| CLO | Collateralized Loan Obligation |
| EUR | Euro |
| GBP | British Pound |
| ICE | Intercontinental Exchange |
| INR | Indian Rupee |
| IO | Interest Only |
| JMD | Jamaican Dollar |
| JSC | Joint Stock Company |
| MXN | Mexican Peso |
| PAC | Planned Amortization Class |
| PIK | Payment-In-Kind |
| REMIC | Real Estate Mortgage Investment Conduit |
| SOFR | Secured Overnight Financing Rate |
| USD | United States Dollar |
| UST | United States Treasury |
| UYU | Uruguayan Peso |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

At April 30, 2025, the Fund had the following open written options contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **OTC Written Options** | **OTC Written Options** | **OTC Written Options** | **OTC Written Options** | **OTC Written Options** | **OTC Written Options** | **OTC Written Options** |
| Security | Counterparty | &nbsp;&nbsp; Expiration <br>Date<br>| &nbsp;&nbsp; Strike <br>Price<br>| Contracts | &nbsp;&nbsp; Notional <br>Amount†<br>| Value |
| Credit default swaption to sell <br> protection on Markit CDX.NA.HY.44 <br> Index, Put, 500.000<sup>bps</sup> quarterly <br> payments received by the Fund, <br> maturing on 6/20/30<br>| Goldman Sachs Group Inc. | &nbsp;&nbsp;&nbsp; 6/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 98.000 <br><sup>bps</sup><br>| &nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 3,000,000<br> ‡<br>| &nbsp;&nbsp;&nbsp; $(9466)<br>|
| Credit default swaption to sell <br> protection on Markit CDX.NA.HY.44 <br> Index, Put, 500.000<sup>bps</sup> quarterly <br> payments received by the Fund, <br> maturing on 6/20/30<br>| BNP Paribas SA | &nbsp;&nbsp;&nbsp; 6/18/25 | &nbsp;&nbsp;&nbsp;&nbsp; 99.500 <br><sup>bps</sup><br>| &nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp; 3,000,000<br> ‡<br>| &nbsp;&nbsp;&nbsp; (13181)<br>|
| U.S. Dollar/Swiss Franc, Call | Bank of America N.A. | &nbsp;&nbsp;&nbsp; 7/11/25 | &nbsp;&nbsp;&nbsp;&nbsp; 0.859 <br><sup>CHF</sup><br>| &nbsp;&nbsp;&nbsp; 3671000 | &nbsp;&nbsp;&nbsp; 3671000 | &nbsp;&nbsp;&nbsp; (10090)<br>|
| **Total OTC Written Options (Premiums received — $71,736)** | **Total OTC Written Options (Premiums received — $71,736)** | **Total OTC Written Options (Premiums received — $71,736)** | **Total OTC Written Options (Premiums received — $71,736)** | **Total OTC Written Options (Premiums received — $71,736)** | **Total OTC Written Options (Premiums received — $71,736)** | &nbsp;&nbsp; **$(32737)**<br>|

---

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

† Notional amount denominated in U.S. dollar unless otherwise noted.

‡ In the event an option is exercised and a credit event occurs as defined under the
 terms of the swap agreement, the notional amount is the maximum potential amount that could be required to be paid as a seller of credit protection
 or received as a buyer of credit protection.

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

---

| | |
|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| bps | basis points (100 basis points = 1.00%) |
| CHF | Swiss Franc |

---

At April 30, 2025, the Fund had the following open futures contracts:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; <br> Number of <br>Contracts<br>| &nbsp;&nbsp;&nbsp; <br> Expiration <br>Date<br>| &nbsp;&nbsp;&nbsp; <br> Notional <br>Amount<br>| &nbsp;&nbsp;&nbsp; <br> Market <br>Value<br>| &nbsp;&nbsp;&nbsp; <br> Unrealized <br>Appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(Depreciation)<br>|
| **Contracts to Buy:** <br>|  |  |  |  |  |
| Australian 10-Year Bonds | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 6/25 | &nbsp;&nbsp;&nbsp;&nbsp; $3590417 | &nbsp;&nbsp;&nbsp;&nbsp; $3682266 | &nbsp;&nbsp;&nbsp;&nbsp; $91849 |
| Euro-Bund | &nbsp;&nbsp;&nbsp;&nbsp; 155 | &nbsp;&nbsp;&nbsp;&nbsp; 6/25 | &nbsp;&nbsp;&nbsp;&nbsp; 23097550 | &nbsp;&nbsp;&nbsp;&nbsp; 23139481 | &nbsp;&nbsp;&nbsp;&nbsp; 41931 |
| U.S. Treasury 2-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 276 | &nbsp;&nbsp;&nbsp;&nbsp; 6/25 | &nbsp;&nbsp;&nbsp;&nbsp; 56905712 | &nbsp;&nbsp;&nbsp;&nbsp; 57448969 | &nbsp;&nbsp;&nbsp;&nbsp; 543257 |
| U.S. Treasury 5-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 316 | &nbsp;&nbsp;&nbsp;&nbsp; 6/25 | &nbsp;&nbsp;&nbsp;&nbsp; 34321202 | &nbsp;&nbsp;&nbsp;&nbsp; 34505718 | &nbsp;&nbsp;&nbsp;&nbsp; 184516 |
| U.S. Treasury 10-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 6/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1005906 | &nbsp;&nbsp;&nbsp;&nbsp; 1009969 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4063 |
| U.S. Treasury Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp;&nbsp;&nbsp; 6/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2895543 | &nbsp;&nbsp;&nbsp;&nbsp; 2915625 | &nbsp;&nbsp;&nbsp;&nbsp; 20082 |
| U.S. Treasury Ultra Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp;&nbsp;&nbsp; 6/25 | &nbsp;&nbsp;&nbsp;&nbsp; 14039517 | &nbsp;&nbsp;&nbsp;&nbsp; 14039625 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 108 |
| United Kingdom Long Gilt Bonds | &nbsp;&nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp;&nbsp;&nbsp; 6/25 | &nbsp;&nbsp;&nbsp;&nbsp; 13942102 | &nbsp;&nbsp;&nbsp;&nbsp; 14083653 | &nbsp;&nbsp;&nbsp;&nbsp; 141551 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 1027357 |
| **Contracts to Sell:** <br>|  |  |  |  |  |
| Euro-Bobl | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 6/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1212149 | &nbsp;&nbsp;&nbsp;&nbsp; 1219706 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7557) |
| U.S. Treasury Ultra 10-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 6/25 | &nbsp;&nbsp;&nbsp;&nbsp; 668990 | &nbsp;&nbsp;&nbsp;&nbsp; 688407 | &nbsp;&nbsp;&nbsp;&nbsp; (19417) |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (26974) |
| **Net unrealized appreciation on open futures contracts** | **Net unrealized appreciation on open futures contracts** | **Net unrealized appreciation on open futures contracts** | **Net unrealized appreciation on open futures contracts** | **Net unrealized appreciation on open futures contracts** | &nbsp;&nbsp;&nbsp; **$1000383** |

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** |
| Bobl |  | Bundesobligation (Medium-term German Federal Government Bond) |

---

At April 30, 2025, the Fund had the following open forward foreign currency contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Currency <br>Purchased | Currency <br>Purchased | Currency <br>Sold | Currency <br>Sold | Counterparty | Settlement <br>Date<br>| Unrealized <br>Appreciation <br>(Depreciation)<br>|
| BRL | &nbsp;&nbsp; 22189231 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 3901060 | Bank of America N.A. | &nbsp;&nbsp; 5/5/25 | &nbsp;&nbsp; $4139 |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Currency<br> Purchased | Currency<br> Purchased | Currency<br> Sold | Currency<br> Sold | Counterparty | Settlement<br> Date<br>| Unrealized<br> Appreciation<br> (Depreciation)<br>|
| USD | &nbsp;&nbsp;&nbsp; 3919805 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 22189231 | Bank of America N.A. | &nbsp;&nbsp; 5/5/25 | &nbsp;&nbsp; $14606 |
| BRL | &nbsp;&nbsp; 22189231 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 3919805 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 5/5/25 | &nbsp;&nbsp;&nbsp; (14606) |
| USD | &nbsp;&nbsp;&nbsp; 3850225 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 22189231 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 5/5/25 | &nbsp;&nbsp;&nbsp; (54975) |
| CNH | &nbsp;&nbsp;&nbsp; 8518317 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1181000 | BNP Paribas SA | &nbsp;&nbsp; 5/6/25 | &nbsp;&nbsp;&nbsp;&nbsp; (8611) |
| USD | &nbsp;&nbsp;&nbsp; 1171888 | &nbsp;&nbsp; CNH | &nbsp;&nbsp;&nbsp; 8518317 | BNP Paribas SA | &nbsp;&nbsp; 5/6/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (500) |
| USD | &nbsp;&nbsp;&nbsp; 3874359 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 22189231 | Bank of America N.A. | &nbsp;&nbsp; 6/3/25 | &nbsp;&nbsp;&nbsp;&nbsp; (2152) |
| BRL | &nbsp;&nbsp;&nbsp; 2996586 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 523101 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 6/3/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 409 |
| CHF | &nbsp;&nbsp;&nbsp; 1361351 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1689000 | Bank of America N.A. | &nbsp;&nbsp; 7/15/25 | &nbsp;&nbsp;&nbsp; (24097) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 844330 | &nbsp;&nbsp; CHF | &nbsp;&nbsp;&nbsp;&nbsp; 693461 | Bank of America N.A. | &nbsp;&nbsp; 7/15/25 | &nbsp;&nbsp;&nbsp;&nbsp; (3758) |
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 180000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 219033 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1128 |
| CNH | &nbsp;&nbsp;&nbsp; 4360000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 592979 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 10363 |
| CNH | &nbsp;&nbsp;&nbsp; 4360000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 593396 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 9946 |
| CNH | &nbsp;&nbsp;&nbsp; 4370000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 595493 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 9234 |
| CNH | &nbsp;&nbsp;&nbsp; 5415237 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 747544 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1824 |
| CNH | &nbsp;&nbsp;&nbsp; 8100000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1104417 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 16472 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 340000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 373683 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 13359 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 390000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 429019 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 14942 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 760000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 865483 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (329) |
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 980249 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1313060 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; (6297) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 442204 | &nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp;&nbsp; 710000 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp; (12998) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 550214 | &nbsp;&nbsp; CHF | &nbsp;&nbsp;&nbsp;&nbsp; 450000 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (189) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 756516 | &nbsp;&nbsp; CHF | &nbsp;&nbsp;&nbsp;&nbsp; 610000 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 10414 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 517423 | &nbsp;&nbsp; CNH | &nbsp;&nbsp;&nbsp; 3790000 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; (7042) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 689776 | &nbsp;&nbsp; CNH | &nbsp;&nbsp;&nbsp; 5050000 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; (9049) |
| USD | &nbsp;&nbsp;&nbsp; 6570417 | &nbsp;&nbsp; CNH | &nbsp;&nbsp; 48085596 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp; (83731) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 407880 | &nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; 356721 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1803 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 486437 | &nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; 441951 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp; (16662) |
| USD | &nbsp;&nbsp; 11912249 | &nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp; 9328235 | Bank of America N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp; (523163) |
| CNH | &nbsp;&nbsp;&nbsp; 8518317 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1178446 | BNP Paribas SA | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 329 |
| AUD | &nbsp;&nbsp; 10740625 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 6501612 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp; 384519 |
| CAD | &nbsp;&nbsp;&nbsp; 1950000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1415587 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4398 |
| GBP | &nbsp;&nbsp;&nbsp; 1433500 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1911771 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (781) |
| INR | &nbsp;&nbsp; 78066237 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 910925 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 8206 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19161 | &nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 30000 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (73) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 373985 | &nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp;&nbsp; 587880 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; (2922) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 381071 | &nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; (3607) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 574240 | &nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp;&nbsp; 900000 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; (2776) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 595945 | &nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp;&nbsp; 940000 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; (6717) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 600007 | &nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp;&nbsp; 940000 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; (2654) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 683065 | &nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp; 1062674 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1753 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 743595 | &nbsp;&nbsp; AUD | &nbsp;&nbsp;&nbsp; 1181553 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp; (13933) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 726770 | &nbsp;&nbsp; CAD | &nbsp;&nbsp;&nbsp; 1010000 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; (8709) |
| USD | &nbsp;&nbsp;&nbsp; 6262295 | &nbsp;&nbsp; INR | &nbsp;&nbsp; 542800060 | Citibank N.A. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp; (128484) |
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 360000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 439346 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 977 |
| JPY | &nbsp;&nbsp; 96680000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 660267 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 21816 |
| JPY | &nbsp;&nbsp; 107000000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 730944 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 23948 |
| JPY | &nbsp;&nbsp; 130080000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 912393 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 5330 |
| JPY | &nbsp;&nbsp; 227630000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1595408 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 10535 |
| JPY | &nbsp;&nbsp; 236807105 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1617800 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 52889 |
| JPY | &nbsp;&nbsp; 357710000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 2511079 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 12587 |
| MXN | &nbsp;&nbsp; 12614633 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 637455 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (763) |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Currency<br> Purchased | Currency<br> Purchased | Currency<br> Sold | Currency<br> Sold | Counterparty | Settlement<br> Date<br>| Unrealized<br> Appreciation<br> (Depreciation)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 200966 | &nbsp;&nbsp; CAD | &nbsp;&nbsp;&nbsp;&nbsp; 284395 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp; $(6130) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 590779 | &nbsp;&nbsp; CAD | &nbsp;&nbsp;&nbsp;&nbsp; 816717 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; (3952) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 928062 | &nbsp;&nbsp; CHF | &nbsp;&nbsp;&nbsp;&nbsp; 787612 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp; (35281) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 762325 | &nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp;&nbsp; 664000 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6454 |
| USD | &nbsp;&nbsp;&nbsp; 1176973 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 166720683 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 748 |
| USD | &nbsp;&nbsp;&nbsp; 4758096 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 99525994 | Goldman Sachs Group Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp; (265230) |
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 270000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 329141 | JPMorgan Chase & Co. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1100 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 470000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 516877 | Morgan Stanley & Co. Inc. | &nbsp;&nbsp; 7/16/25 | &nbsp;&nbsp;&nbsp;&nbsp; 18152 |
| **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | &nbsp;&nbsp; **$(587791)** |

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** |
| AUD |  | Australian Dollar |
| BRL |  | Brazilian Real |
| CAD |  | Canadian Dollar |
| CHF |  | Swiss Franc |
| CNH |  | Chinese Offshore Yuan |
| EUR |  | Euro |
| GBP |  | British Pound |
| INR |  | Indian Rupee |
| JPY |  | Japanese Yen |
| MXN |  | Mexican Peso |
| USD |  | United States Dollar |

---

At April 30, 2025, the Fund had the following open swap contracts:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  |
| Swap Counterparty | Notional <br>Amount\*<br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Depreciation<br>|
| Bank of America N.A. | 73787000<sup>BRL</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1/2/26 | BRL-CDI\*\* | 11.035%\*\* | &nbsp;&nbsp;&nbsp;&nbsp; $(328080) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; $(328080) |
| JPMorgan Chase & Co. | 27000000<sup>BRL</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1/4/27 | BRL-CDI\*\* | 13.165%\*\* | &nbsp;&nbsp;&nbsp;&nbsp; (33456) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (33456) |
| JPMorgan Chase & Co. | 38560000<sup>BRL</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1/2/29 | BRL-CDI\*\* | 10.230%\*\* | &nbsp;&nbsp;&nbsp;&nbsp; (600946) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (600946) |
| **Total** |  |  |  |  | &nbsp;&nbsp;&nbsp; **$(962482)** | &nbsp;&nbsp;&nbsp; **—** | &nbsp;&nbsp;&nbsp; **$(962482)** |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  |
| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>Amount\*<br>| &nbsp;&nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 86000000<sup>MXN</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/29 | &nbsp;&nbsp;&nbsp;&nbsp; 28-Day MXN TIIE - Banxico <br>every 28 days<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.825% <br>every 28 days<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$199284** | &nbsp;&nbsp;&nbsp;&nbsp; **—** | &nbsp;&nbsp;&nbsp;&nbsp; **$199284** |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  |
| Reference Entity | Notional <br>Amount<sup>2</sup> <br>| Termination <br>Date<br>| &nbsp;&nbsp;&nbsp; Implied <br>Credit <br>Spread at <br>April 30, <br>2025<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(Depreciation)<br>|
| American Airlines Group Inc., <br> 6.500%, due 7/1/25<br>| $1080000 | 12/20/29 | &nbsp;&nbsp;&nbsp;&nbsp; 7.427% | 5.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; $(89572) | &nbsp;&nbsp;&nbsp;&nbsp; $45639 | &nbsp;&nbsp;&nbsp;&nbsp; $(135211) |
| Carnival Corp., 6.650%, due <br> 1/15/28<br>| &nbsp;&nbsp;&nbsp;&nbsp; 600000 | 6/20/30 | &nbsp;&nbsp;&nbsp;&nbsp; 2.422% | 1.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; (37786) | &nbsp;&nbsp;&nbsp;&nbsp; (44433) | &nbsp;&nbsp;&nbsp;&nbsp; 6647 |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup> **(cont'd)** | **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup> **(cont'd)** | **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup> **(cont'd)** | **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup> **(cont'd)** | **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup> **(cont'd)** | **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup> **(cont'd)** | **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup> **(cont'd)** | **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup> **(cont'd)** |
| Reference Entity | Notional<br> Amount<sup>2</sup><br>| Termination<br> Date<br>| &nbsp;&nbsp;&nbsp; Implied<br> Credit<br> Spread at<br> April 30,<br> 2025<sup>3</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic<br> Payments<br> Received by<br> the Fund<sup>†</sup><br>| &nbsp;&nbsp;&nbsp; Market<br> Value<br>| &nbsp;&nbsp;&nbsp; Upfront<br> Premiums<br> Paid<br> &nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized<br> Appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(Depreciation)<br>|
| Nabors Industries Inc., 9.125%, <br> due 1/31/30<br>| $1434000 | 6/20/29 | &nbsp;&nbsp;&nbsp;&nbsp; 14.869% | 1.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; $(515563) | &nbsp;&nbsp;&nbsp;&nbsp; $(187745) | &nbsp;&nbsp;&nbsp;&nbsp; $(327818) |
| **Total** | **$3114000** |  |  |  | &nbsp;&nbsp;&nbsp; **$(642921)** | &nbsp;&nbsp;&nbsp; **$(186539)** | &nbsp;&nbsp;&nbsp; **$(456382)** |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  |
| Reference Entity | Notional <br>Amount<sup>2</sup> <br>| Termination <br>Date<br>| &nbsp;&nbsp;&nbsp; Implied <br>Credit <br>Spread at <br>April 30, <br>2025<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation<br>|
| Transocean Inc., 8.000%, due <br> 2/1/27<br>| $1434000 | 6/20/29 | &nbsp;&nbsp;&nbsp;&nbsp; 10.587% | 1.000% quarterly | &nbsp;&nbsp;&nbsp; **$398121** | &nbsp;&nbsp;&nbsp; **$147373** | &nbsp;&nbsp;&nbsp; **$250748** |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  |
| Reference Entity | Notional <br>Amount<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<sup>5</sup> <br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Depreciation<br>|
| Markit CDX.NA.IG.44 Index | $14552000 | &nbsp;&nbsp;&nbsp;&nbsp; 6/20/30 | 1.000% quarterly | &nbsp;&nbsp;&nbsp; **$214549** | &nbsp;&nbsp;&nbsp; **$278064** | &nbsp;&nbsp;&nbsp; **$(63515)** |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  |
| Swap <br>Counterparty<br>| Notional <br>Amount<br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>‡</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Depreciation<br>|
| JPMorgan Chase & Co. | $4369000 | &nbsp;&nbsp;&nbsp;&nbsp; 7/3/25 | &nbsp;&nbsp;&nbsp;&nbsp; Daily SOFR <br>Compound + <br>1.100%\*\*<br>| JPEIFNTR^\*\* | &nbsp;&nbsp;&nbsp; **$(138960)** | &nbsp;&nbsp;&nbsp; **—** | &nbsp;&nbsp;&nbsp; **$(138960)** |

---

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

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Western Asset Income Fund**

---

| | |
|:---|:---|
| <sup>1</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to <br> the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities <br> comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the <br> recovery value of the referenced obligation or underlying securities comprising the referenced index.<br>|
| <sup>2</sup> | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event <br> occurs as defined under the terms of that particular swap agreement.<br>|
| <sup>3</sup> | Implied credit spreads, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end, serve <br> as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied <br> credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter <br> into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or <br> other credit event occurring as defined under the terms of the agreement. A credit spread identified as "Defaulted" indicates a credit event has occurred for <br> the referenced entity or obligation.<br>|
| <sup>4</sup> | If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive <br> from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or the underlying securities <br> comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the <br> recovery value of the referenced obligation or the underlying securities comprising the referenced index.<br>|
| <sup>5</sup> | The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the <br> current status of the payment/performance risk and represent the likelihood of an expected loss (or profit) for the credit derivative had the notional amount <br> of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection), when <br> compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of <br> default or other credit event occurring as defined under the terms of the agreement.<br>|
| † | Percentage shown is an annual percentage rate. |
| ‡ | Periodic payments made/received by the Fund are based on the total return of the referenced entity. |
| ^ | Custom emerging markets debt basket is comprised of 40 bonds in the Sovereign Frontier sector. |
| \* | Notional amount denominated in U.S. dollars, unless otherwise noted. |
| \*\* | One time payment made at termination date. |

---

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

---

| | |
|:---|:---|
| Reference Index | Reference <br>Rate<br>|
| &nbsp;&nbsp;&nbsp; 28-Day MXN TIIE - Banxico | 9.341% |
| &nbsp;&nbsp;&nbsp; BRL-CDI | 14.150% |
| &nbsp;&nbsp;&nbsp; Daily SOFR Compound | 4.410% |

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** |
| BRL |  | Brazilian Real |
| BRL-CDI |  | Brazilian Cetip InterBank Deposit Rate |
| JPEIFNTR |  | Western Asset Management Emerging Markets Frontier Custom Basket |
| MXN |  | Mexican Peso |
| SOFR |  | Secured Overnight Financing Rate |
| TIIE |  | Tasa de Intere's Interbancaria de Equilibrio (Equilibrium Interbanking Interest Rate) |

---

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

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

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

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

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

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

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer's financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts' research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board quarterly.

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

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Western Asset Income Fund 2025 Quarterly Report

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

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | &nbsp;&nbsp; — | &nbsp;&nbsp; $29152724 | &nbsp;&nbsp; $1774597 | &nbsp;&nbsp; $30927321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | &nbsp;&nbsp; — | &nbsp;&nbsp; 24708233 | &nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp; 24708233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 102110610 | &nbsp;&nbsp; — | &nbsp;&nbsp; 102110610 |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 95752212 | &nbsp;&nbsp; — | &nbsp;&nbsp; 95752212 |
| &nbsp;&nbsp;&nbsp; Senior Loans: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; — | &nbsp;&nbsp; 10916426 | &nbsp;&nbsp; 2833875 | &nbsp;&nbsp; 13750301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | &nbsp;&nbsp; — | &nbsp;&nbsp; 13507466 | &nbsp;&nbsp; 3834856 | &nbsp;&nbsp; 17342322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | &nbsp;&nbsp; — | &nbsp;&nbsp; 11590340 | &nbsp;&nbsp; 542694 | &nbsp;&nbsp; 12133034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | &nbsp;&nbsp; — | &nbsp;&nbsp; 14501830 | &nbsp;&nbsp; 354321 | &nbsp;&nbsp; 14856151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | &nbsp;&nbsp; — | &nbsp;&nbsp; 12437578 | &nbsp;&nbsp; 2737822 | &nbsp;&nbsp; 15175400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | &nbsp;&nbsp; — | &nbsp;&nbsp; 2082861 | &nbsp;&nbsp; 1372266 | &nbsp;&nbsp; 3455127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sovereign Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1511125 | &nbsp;&nbsp; 1511125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Senior Loans | &nbsp;&nbsp; — | &nbsp;&nbsp; 15917962 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15917962 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 51077100 | &nbsp;&nbsp; — | &nbsp;&nbsp; 51077100 |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 25041916 | &nbsp;&nbsp; — | &nbsp;&nbsp; 25041916 |
| &nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | &nbsp;&nbsp; $868542 | &nbsp;&nbsp; 5035 | &nbsp;&nbsp; — | &nbsp;&nbsp; 873577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 41363 | &nbsp;&nbsp; 41363 |
| &nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; 617098 | &nbsp;&nbsp; — | &nbsp;&nbsp; 617098 |
| &nbsp;&nbsp;&nbsp; Non-U.S. Treasury Inflation Protected Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 143269 | &nbsp;&nbsp; — | &nbsp;&nbsp; 143269 |
| &nbsp;&nbsp;&nbsp; Purchased Options | &nbsp;&nbsp; — | &nbsp;&nbsp; 89708 | &nbsp;&nbsp; — | &nbsp;&nbsp; 89708 |
| &nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 1504 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1504 |
| Total Long-Term Investments | &nbsp;&nbsp; 868542 | &nbsp;&nbsp; 409653872 | &nbsp;&nbsp; 15002919 | &nbsp;&nbsp; 425525333 |
| Short-Term Investments† | &nbsp;&nbsp; 1792723 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1792723 |
| **Total Investments** | &nbsp;&nbsp; **$2661265** | &nbsp;&nbsp; **$409653872** | &nbsp;&nbsp; **$15002919** | &nbsp;&nbsp; **$427318056** |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts†† | &nbsp;&nbsp; $1027357 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $1027357 |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† | &nbsp;&nbsp; — | &nbsp;&nbsp; $662380 | &nbsp;&nbsp; — | &nbsp;&nbsp; 662380 |
| &nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps†† | &nbsp;&nbsp; — | &nbsp;&nbsp; 199284 | &nbsp;&nbsp; — | &nbsp;&nbsp; 199284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Corporate Issues — <br> Sell Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 6647 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Corporate Issues — <br> Buy Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 250748 | &nbsp;&nbsp; — | &nbsp;&nbsp; 250748 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; **$1027357** | &nbsp;&nbsp; **$1119059** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$2146416** |
| **Total** | &nbsp;&nbsp; **$3688622** | &nbsp;&nbsp; **$410772931** | &nbsp;&nbsp; **$15002919** | &nbsp;&nbsp; **$429464472** |

---

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Western Asset Income Fund 2025 Quarterly Report

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---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Written Options | &nbsp;&nbsp; — | &nbsp;&nbsp; $32737 | &nbsp;&nbsp; — | &nbsp;&nbsp; $32737 |
| &nbsp;&nbsp;&nbsp; Futures Contracts†† | &nbsp;&nbsp; $26974 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 26974 |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† | &nbsp;&nbsp; — | &nbsp;&nbsp; 1250171 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1250171 |
| &nbsp;&nbsp;&nbsp; OTC Interest Rate Swaps | &nbsp;&nbsp; — | &nbsp;&nbsp; 962482 | &nbsp;&nbsp; — | &nbsp;&nbsp; 962482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Corporate Issues — <br> Sell Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 463029 | &nbsp;&nbsp; — | &nbsp;&nbsp; 463029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Credit Indices — Sell <br> Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 63515 | &nbsp;&nbsp; — | &nbsp;&nbsp; 63515 |
| &nbsp;&nbsp;&nbsp; OTC Total Return Swaps | &nbsp;&nbsp; — | &nbsp;&nbsp; 138960 | &nbsp;&nbsp; — | &nbsp;&nbsp; 138960 |
| **Total** | &nbsp;&nbsp; **$26974** | &nbsp;&nbsp; **$2910894** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$2937868** |

---

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

---

| | |
|:---|:---|
| † | See Schedule of Investments for additional detailed categorizations. |
| \* | Amount represents less than $1. |
| †† | Reflects the unrealized appreciation (depreciation) of the instruments. |

---

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value: <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Investments in <br>Securities<br>| Balance <br>as of <br>July 31, 2024<br>| Accrued <br>premiums/ <br>discounts<br>| Realized <br>gain <br>(loss)<br>| Change in <br>unrealized <br>appreciation <br>(depreciation)<sup>1</sup> <br>| Purchases |
| **Corporate Bonds &** <br> **Notes:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Energy |  | $1763 |  | $(1763)<br>| $1774597 |
| &nbsp;&nbsp;&nbsp; Financials | $161400 |  |  | (161400)<br>|  |
| **Senior Loans:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Consumer <br> Discretionary<br>| 5746126 | 7504 | $21444 | (76018)<br>| 3738959 |
| &nbsp;&nbsp;&nbsp; Energy | 719100 | 214 | 17 | (6513)<br>|  |
| &nbsp;&nbsp;&nbsp; Financials | 8685817 | 14553 | 21619 | (15787)<br>| 2620958 |
| &nbsp;&nbsp;&nbsp; Health Care | 2131558 | 1584 | (199277)<br>| 92262 | 1610135 |
| &nbsp;&nbsp;&nbsp; Industrials | 5254201 | 555 | (57896)<br>| 44114 | 351225 |
| &nbsp;&nbsp;&nbsp; Information <br> Technology<br>| 4895912 | 1638 | (27436)<br>| (31933)<br>| 3253855 |
| &nbsp;&nbsp;&nbsp; Materials | 1356464 |  |  | 15802 |  |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | 1522675 |  |  | (11550)<br>|  |
| **Common Stocks:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Materials | 193546 |  |  | (152183)<br>|  |
| **Total** | **$30666799** | **$27811** | **$(241529)**<br>| **$(304969)**<br>| **$13349729** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Investments in <br>Securities (cont'd)<br>| Sales | Transfers <br>into <br>Level 3<br>| Transfers <br>out of <br>Level 3<sup>2</sup> <br>| Balance <br>as of <br>April 30, 2025<br>| Net change <br>in unrealized <br>appreciation <br>(depreciation) for <br> investments <br>in securities <br>still held at <br>April 30, 2025<sup>1</sup> <br>|
| **Corporate Bonds &** <br> **Notes:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Energy |  |  |  | $1774597 | $(1763)<br>|
| &nbsp;&nbsp;&nbsp; Financials |  |  |  | 0<br> \*<br>| (161400)<br>|

---

------

Western Asset Income Fund 2025 Quarterly Report

------

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Investments in<br> Securities (cont'd)<br>| Sales | Transfers<br> into<br> Level 3<br>| Transfers<br> out of<br> Level 3<sup>2</sup><br>| Balance<br> as of<br> April 30, 2025<br>| Net change<br> in unrealized<br> appreciation<br> (depreciation) for <br> investments<br> in securities<br> still held at<br> April 30, 2025<sup>1</sup><br>|
| **Senior Loans:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Consumer <br> Discretionary<br>| $(6604140)<br>|  |  | $2833875 | $(23045)<br>|
| &nbsp;&nbsp;&nbsp; Energy | (1800)<br>|  | $(711018)<br>|  |  |
| &nbsp;&nbsp;&nbsp; Financials | (5046172)<br>|  | (2446132)<br>| 3834856 | (488)<br>|
| &nbsp;&nbsp;&nbsp; Health Care | (2216577)<br>|  | (876991)<br>| 542694 | (104035)<br>|
| &nbsp;&nbsp;&nbsp; Industrials | (2654054)<br>|  | (2583824)<br>| 354321 | 3096 |
| &nbsp;&nbsp;&nbsp; Information <br> Technology<br>| (5354214)<br>|  |  | 2737822 | 5774 |
| &nbsp;&nbsp;&nbsp; Materials |  |  |  | 1372266 | 15802 |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds |  |  |  | 1511125 | (11550)<br>|
| **Common Stocks:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Materials |  |  |  | 41363 | (152183)<br>|
| **Total** | **$(21876957)**<br>| **—** | **$(6617965)**<br>| **$15002919** | **$(429792)**<br>|

---

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

\* Amount represents less than $1.

<sup>1</sup> Change in unrealized appreciation (depreciation) includes net unrealized appreciation (depreciation) resulting from changes in investment values during the reporting period and the reversal of previously recorded unrealized appreciation (depreciation) when gains or losses are realized. 

<sup>2</sup> Transferred out of Level 3 as a result of the availability of a quoted price in an active market for an identical investment or the availability of other significant observable inputs. 

**2. Transactions with affiliated company**

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended April 30, 2025. The following transactions were effected in such company for the period ended April 30, 2025. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>July 31, <br>2024 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>July 31, <br>2024 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium <br> Shares<br>| $38944014 | $559505512 | 559505512 | $596656803 | 596656803 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>April 30, <br>2025<br>|
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium Shares<br>|  | $698091 |  | $1792723 |

---

------

Western Asset Income Fund 2025 Quarterly Report

------

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

**3. Restricted securities**

The following Fund investments are restricted as to resale and, in the absence of readily ascertainable market values, are fair valued in accordance with procedures approved by the Board. <br>

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Security | &nbsp;&nbsp; Number of <br>Shares/ <br>Warrants<br>| Acquisition <br>Date<br>| Cost | Fair Value <br>at 4/30/2025<br>| Value Per <br>Share/Warrant<br>| &nbsp;&nbsp; Percent of <br>Net Assets<br>|
| Spirit Airlines LLC, <br>Common Shares<br>| &nbsp;&nbsp; 603 | 3/25 | $7340 | $5035 | &nbsp;&nbsp; $8.35 | 0.00<br> %<sup>(a)</sup><br>|
| Spirit Airlines LLC, <br>Warrants<br>| &nbsp;&nbsp; 73904 | 3/25 | 899660 | 617098 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $8.35 | 0.14 |
|  |  |  | **$907000** | **$622133** |  | **0.14%**<br>|

---

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

<sup>(a)</sup> Amount represents less than 0.005%.

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

------

Western Asset Income Fund 2025 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

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

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

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

- **b. EDGAR series identifier (if any):** S000008972

- **c. LEI of Series:** 5493007PBU5GQOUDIO10

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $474262694.62

**Total Liabilities:** $13003129.86

**Net Assets:** $461259564.76

**Cash Not Reported:** $4563459.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 310.84000000 | **1-Year:** 11828.67000000 | **5-Year:** 37473.95000000 | **10-Year:** 18160.08000000 | **30-Year:** 633.20000000

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

- **3-Month:** 800.66000000 | **1-Year:** 29835.60000000 | **5-Year:** 52288.73000000 | **10-Year:** 9292.73000000 | **30-Year:** 1229.65000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024372 | 1.13%                | -0.77%               | -0.20%               |
| Class ID C000024374 | 1.08%                | -0.83%               | -0.26%               |
| Class ID C000024375 | 1.17%                | -0.72%               | -0.16%               |
| Class ID C000081533 | 1.10%                | -0.81%               | -0.23%               |
| Class ID C000118995 | 1.16%                | -0.73%               | -0.16%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2024308.86             | $4132494.31                                |
| Month 2  | $-1930717.43             | $-5036587.73                               |
| Month 3  | $-6059168.56             | $-215168.70                                |

### Schedule of Portfolio Investments

| Name                                                                        | Title                                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS TRANSOCEAN INC                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $396448.14    | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                                                          | LONG GILT                                                                        | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |       113 | NC      | $141551.48    | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Team Services Group LLC                                                     | TEAM PUBLIC CHOICES LLC                                                          | CUSIP: 87821EAB9<br>LEI: 2549000UQACQVCO13Y82 | Long             | LON              | CORP              | US        |    654884 | PA      | $634254.87    | 0.14%             | 2027-12-20      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| Neptune Bidco Us Inc.                                                       | NEPTUNE BIDCO US INC                                                             | CUSIP: 64069JAF9<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |    581737 | PA      | $511721.85    | 0.11%             | 2028-10-11      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor                                              | Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3                | CUSIP: 06427DAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1050430.36   | 0.23%             | 2050-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                      | Venture Global LNG Inc                                                           | CUSIP: 92332YAF8<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1680000 | PA      | $1445564.23   | 0.31%             | N/A             | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                                         | Altice Financing SA                                                              | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   2440000 | PA      | $1802553.90   | 0.39%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                                          | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2021-1                    | CUSIP: 35563PWQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2446756 | PA      | $2338351.38   | 0.51%             | 2060-09-25      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Celsius Holdings, Inc.                                                      | CELSIUS HOLDINGS INC                                                             | CUSIP: 15118XAB0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1200000 | PA      | $1194498.00   | 0.26%             | 2032-03-21      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                                 | Extended Stay America Trust 2021-ESH                                             | CUSIP: 30227FAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1022782 | PA      | $1012146.84   | 0.22%             | 2038-07-15      | Floating      | 8.14%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                                      | First Brands Group LLC                                                           | CUSIP: 31935HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    217732 | PA      | $202996.95    | 0.04%             | 2027-03-30      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                                              | Apidos CLO XXII                                                                  | CUSIP: 03766AAE5<br>LEI: 5493003SQW0Q40KVFQ19 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1002670.25   | 0.22%             | 2031-04-20      | Floating      | 11.28%                | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                                           | EURO-BOBL                                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        -9 | NC      | $-7557.02     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Alliance Laundry Systems LLC                                                | ALLIANCE LAUNDRY SYSTEMS LLC                                                     | CUSIP: 01862LBA5<br>LEI: 549300YBOGK6MBI5ND34 | Long             | LON              | CORP              | US        |   1170043 | PA      | $1163245.17   | 0.25%             | 2031-08-19      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRISES                                                     | Saks Global Enterprises LLC                                                      | CUSIP: 79380MAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    820000 | PA      | $498279.05    | 0.11%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CAPSTONE COPPER CORP                                                        | Capstone Copper Corp                                                             | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    270000 | PA      | $265487.97    | 0.06%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| QAZAQGAZ NC JSC                                                             | QazaqGaz NC JSC                                                                  | CUSIP: 48668NAA9<br>LEI: 635400YGLXBBSVHONW39 | Long             | DBT              | CORP              | KZ        |    680000 | PA      | $656465.88    | 0.14%             | 2027-09-26      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Commercial Mortgage Trust 2022-LP2                                            | CUSIP: 05610HAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    987000 | PA      | $978150.66    | 0.21%             | 2039-02-15      | Floating      | 8.43%                 | No            |                  2 | On Loan: No      |
| Planview Parent Inc                                                         | PLANVIEW PARENT INC                                                              | CUSIP: 72751PAJ3<br>LEI: 549300SEALM1D9FKMA32 | Long             | LON              | CORP              | US        |    792765 | PA      | $778396.04    | 0.17%             | 2027-12-17      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                                                    | MPH Acquisition Holdings LLC                                                     | CUSIP: 553283AG7<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |     98392 | PA      | $76358.77     | 0.02%             | 2030-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MARKS & SPENCER PLC                                                         | Marks & Spencer PLC                                                              | CUSIP: 57069PAA0<br>LEI: 213800CN1RI3UCIZWB95 | Long             | DBT              | CORP              | GB        |    930000 | PA      | $989776.20    | 0.21%             | 2037-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Natixis Commercial Mortgage Se                                              | Natixis Commercial Mortgage Securities Trust 2019-FAME                           | CUSIP: 63873VAL7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1750000 | PA      | $1207877.30   | 0.26%             | 2036-08-15      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                            | Connecticut Avenue Securities Trust 2022-R01                                     | CUSIP: 20754LAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    670000 | PA      | $683335.28    | 0.15%             | 2041-12-25      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                                           | EURO-BUND                                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       155 | NC      | $41931.31     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| CREDIT SUISSE ESCROW CL                                                     | CREDIT SUISSE ESCROW CL                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5380000 | PA      | $0.00         | 0.00%             | 2050-01-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| REPUBLIC OF ECUADOR                                                         | Ecuador Government International Bond                                            | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    239403 | PA      | $144374.19    | 0.03%             | 2035-07-31      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                                    | Benchmark 2018-B1 Mortgage Trust                                                 | CUSIP: 08162PAX9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    870000 | PA      | $849350.46    | 0.18%             | 2051-01-15      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| SHELF DRILL HOLD LTD                                                        | Shelf Drilling Holdings Ltd                                                      | CUSIP: 822538AH7<br>LEI: 54930078ZJ3XP4MRYB68 | Long             | DBT              | CORP              | KY        |    402000 | PA      | $284959.11    | 0.06%             | 2029-04-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust 2021-230P                                         | CUSIP: 61772WAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $981314.57    | 0.21%             | 2038-12-15      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                                                         | Lightning Power LLC                                                              | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |   1190000 | PA      | $1233918.53   | 0.27%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Bank                                                                        | BANK 2017-BNK7                                                                   | CUSIP: 06541XAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    640000 | PA      | $623245.95    | 0.14%             | 2060-09-15      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| FEDERAL REP OF ETHIOPIA                                                     | Ethiopia International Bond                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ET        |    510000 | PA      | $428686.16    | 0.09%             | 2024-12-11      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                                     | Dryden 49 Senior Loan Fund                                                       | CUSIP: 26244QAU7<br>LEI: 549300VCB8LYR1RGV869 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $741646.45    | 0.16%             | 2030-07-18      | Floating      | 7.93%                 | No            |                  2 | On Loan: No      |
| Accession Risk Management Group Inc (f/k/a RSC Acquisition Inc)             | Accession Risk Mgmt Group                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1394484 | PA      | $1394483.71   | 0.30%             | 2029-11-01      | Floating      | 9.05%                 | No            |                  3 | On Loan: No      |
| AUSTRALIAN SECURITIES EXCHANGE TRADE24                                      | AUST 10Y BOND                                                                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | AU        |        50 | NC      | $91848.78     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1160985.56   | 0.25%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Trust 2022-PSB                                                                | CUSIP: 05606DAS7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    353795 | PA      | $353352.69    | 0.08%             | 2039-08-15      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| SPENCER SPIRIT IH LLC                                                       | SPENCER SPIRIT IH LLC                                                            | CUSIP: 84823UAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1542250 | PA      | $1517188.44   | 0.33%             | 2031-07-15      | Floating      | 9.08%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                                     | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    910000 | PA      | $895230.43    | 0.19%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Indy Us Bidco, LLC                                                          | INDY US HOLDCO LLC                                                               | CUSIP: 45674PAR5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1175875 | PA      | $1174405.16   | 0.25%             | 2028-03-06      | Floating      | 7.82%                 | No            |                  3 | On Loan: No      |
| BX Trust                                                                    | BX Trust 2021-ARIA                                                               | CUSIP: 05608RAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1080397.45   | 0.23%             | 2036-10-15      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                        | LifePoint Health Inc                                                             | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    850000 | PA      | $905227.05    | 0.20%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                       | VENTURE GLOBAL PLAQUEMINES LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    260000 | PA      | $266947.87    | 0.06%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                                    | Benchmark 2023-V3 Mortgage Trust                                                 | CUSIP: 08163VAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2571000 | PA      | $2279972.06   | 0.49%             | 2056-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TKC HOLDINGS INC                                                            | TKC Holdings Inc                                                                 | CUSIP: 87256YAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $500591.00    | 0.11%             | 2028-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS CDX.NA.IG.44.V1                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $231526.36    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                            | Connecticut Avenue Securities Trust 2025-R02                                     | CUSIP: 20754TAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1360000 | PA      | $1339921.37   | 0.29%             | 2045-02-25      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                                              | Wells Fargo Commercial Mortgage Trust 2014-LC18                                  | CUSIP: 94989AAZ8<br>LEI: 5493007CD1Q2V06I4172 | Long             | ABS-MBS          | CORP              | US        |     65763 | PA      | $65221.92     | 0.01%             | 2047-12-15      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| Global Tel Link Corporation                                                 | VIAPATH TECHNOLOGIES                                                             | CUSIP: 37959JAG6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1442750 | PA      | $1363398.75   | 0.30%             | 2029-07-31      | Floating      | 11.82%                | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust 2015-UBS8                                         | CUSIP: 61691ABQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $680999.10    | 0.15%             | 2048-12-15      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                              | Gray Media Inc                                                                   | CUSIP: 389284AA8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    610000 | PA      | $594039.72    | 0.13%             | 2027-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                                     | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    460000 | PA      | $474785.35    | 0.10%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                            | Symphony CLO XX Ltd                                                              | CUSIP: 87166XAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   2250000 | PA      | $2195541.74   | 0.48%             | 2032-01-16      | Floating      | 10.81%                | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                                      | Northern Oil & Gas Inc                                                           | CUSIP: 665531AG4<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    850000 | PA      | $839976.97    | 0.18%             | 2028-03-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                           | Magnetite XXII Ltd                                                               | CUSIP: 55954HBC5<br>LEI: 5493000081NBXWGGSW23 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $999673.94    | 0.22%             | 2036-07-15      | Floating      | 7.16%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   1370000 | PA      | $1203847.63   | 0.26%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                                | SWOP CDS CDX.NA.HY.44.V1                                                         | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DCR              | CORP              | US        |   3000000 | NC      | $14064.92     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                                         | Axon Enterprise Inc                                                              | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    190000 | PA      | $194128.13    | 0.04%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                                                    | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAR1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1020000 | PA      | $470322.00    | 0.10%             | 2027-08-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NGP XI Midstream Holdings LLC                                               | NGP XI MIDSTREAM HOLDING                                                         | CUSIP: 62927UAB9<br>LEI: 2549002U9Q0WZYCHRJ82 | Long             | LON              | CORP              | US        |    718200 | PA      | $711018.00    | 0.15%             | 2031-07-25      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| Home Equity Asset Trust                                                     | Home Equity Asset Trust 2005-6                                                   | CUSIP: 437084NG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1190000 | PA      | $1133019.23   | 0.25%             | 2035-12-25      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| XPO INC                                                                     | XPO Inc                                                                          | CUSIP: 98379KAA0<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |    260000 | PA      | $263063.58    | 0.06%             | 2028-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                         | CLYDESDALE ACQUISITION HOLDINGS INC                                              | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    678634 | PA      | $673971.96    | 0.15%             | 2032-03-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Impac Secured Assets Corp.                                                  | Impac Secured Assets Trust 2006-3                                                | CUSIP: 45255RAZ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    969915 | PA      | $820816.29    | 0.18%             | 2036-11-25      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                                    | Brazil Notas do Tesouro Nacional Serie F                                         | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |  18652000 | PA      | $2812186.84   | 0.61%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                                              | MF1 2025-FL17 LLC                                                                | CUSIP: 55287HAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    390000 | PA      | $388690.73    | 0.08%             | 2040-02-18      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| BIG Commercial Mortgage Trust                                               | BIG Commercial Mortgage Trust 2022-BIG                                           | CUSIP: 05551UAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $995612.00    | 0.22%             | 2039-02-15      | Floating      | 9.76%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                                | SWOP CDS CDX.NA.HY.44.V1                                                         | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DCR              | CORP              | US        |  -3000000 | NC      | $-13181.12    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Greystone Select Holdings LLC                                               | Greystone Select Financial LLC                                                   | CUSIP: 39808KAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1112003 | PA      | $1106442.57   | 0.24%             | 2028-06-16      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                                | CSMC Series 2019-UVIL                                                            | CUSIP: 12656DAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1190000 | PA      | $1094887.11   | 0.24%             | 2041-12-15      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| NEW GENERATION GAS                                                          | New Generation Gas Gathering LLC                                                 | CUSIP: 000000000<br>LEI: 9845008CB7EPB0KCD474 | Long             | DBT              | CORP              | US        |   1801622 | PA      | $1774597.31   | 0.38%             | 2029-09-30      | Floating      | 10.05%                | No            |                  3 | On Loan: No      |
| PRP Advisors, LLC                                                           | PRPM 2025-RCF1 LLC                                                               | CUSIP: 74390RAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    649186 | PA      | $637687.79    | 0.14%             | 2055-02-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                                                    | Medline Borrower LP/Medline Co-Issuer Inc                                        | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    770000 | PA      | $776855.31    | 0.17%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                       | VENTURE GLOBAL PLAQUEMINES LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    130000 | PA      | $133602.71    | 0.03%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                                     | Romanian Government International Bond                                           | CUSIP: 77586RAW0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    510000 | PA      | $507960.00    | 0.11%             | 2037-02-10      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE HOLDING SA                                                    | Altice France Holding SA                                                         | CUSIP: 02156TAB0<br>LEI: 5299000JVHXKJPOE6H40 | Long             | DBT              | CORP              | LU        |   2030000 | PA      | $631512.29    | 0.14%             | 2027-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Lids Holdings, Inc.                                                         | Lids Holdings Inc                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1297202 | PA      | $1290715.49   | 0.28%             | 2026-12-14      | Floating      | 9.95%                 | No            |                  3 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAF2<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    160000 | PA      | $146162.91    | 0.03%             | 2030-04-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS CARNIVAL CORP                                                                | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-37086.23    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| DS Parent Inc                                                               | DS PARENT INC                                                                    | CUSIP: 23344YAG7<br>LEI: 254900EH8GRZUGRWRH57 | Long             | LON              | CORP              | US        |   1306817 | PA      | $1164295.13   | 0.25%             | 2031-01-31      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| Bank                                                                        | BANK 2019-BNK22                                                                  | CUSIP: 06540XBG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    660000 | PA      | $612262.46    | 0.13%             | 2062-11-15      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| Delta Air Lines Inc                                                         | SkyMiles IP Ltd                                                                  | CUSIP: 24736CBS2<br>LEI: 2549008L7P4I8VB90936 | Long             | LON              | CORP              | KY        |   1098289 | PA      | $1110189.33   | 0.24%             | 2027-10-20      | Floating      | 8.02%                 | No            |                  2 | On Loan: No      |
| PETSMART INC/PETSMART FI                                                    | PetSmart Inc / PetSmart Finance Corp                                             | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1184752.01   | 0.26%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Dynamo Us Bidco Inc.                                                        | DYNAMO US BIDCO INC                                                              | CUSIP: 26806DAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    975100 | PA      | $972662.25    | 0.21%             | 2031-10-01      | Floating      | 7.80%                 | No            |                  2 | On Loan: No      |
| GATWICK AIRPORT FINANCE                                                     | Gatwick Airport Finance PLC                                                      | CUSIP: 000000000<br>LEI: 213800BDRHDHRGTQ1D63 | Long             | DBT              | CORP              | GB        |   1840000 | PA      | $2411078.86   | 0.52%             | 2026-04-07      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| 1261229 BC Ltd                                                              | 1261229 BC LTD                                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | CA        |    470000 | PA      | $444542.45    | 0.10%             | 2030-09-25      | Floating      | 10.57%                | No            |                  2 | On Loan: No      |
| Deerfield Dakota Holding LLC                                                | Deerfield Dakota Holding LLC                                                     | CUSIP: 24440EAG2<br>LEI: 549300FDREJLOIGXY104 | Long             | LON              | CORP              | US        |    580000 | PA      | $535415.40    | 0.12%             | 2028-04-07      | Floating      | 11.31%                | No            |                  2 | On Loan: No      |
| Cloudera Inc                                                                | Cloudera Inc                                                                     | CUSIP: 74339VAB4<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |    628534 | PA      | $620287.57    | 0.13%             | 2028-10-08      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT OF JAMAICA                                                       | Jamaica Government International Bond                                            | CUSIP: 470160CF7<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        | 110000000 | PA      | $724427.78    | 0.16%             | 2030-11-03      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                                     | SWOP CDS CDX.NA.HY.44.V1                                                         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |  -3000000 | NC      | $-9465.79     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AKUMIN INC                                                                  | Akumin Inc                                                                       | CUSIP: 01021XAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1080000 | PA      | $945766.84    | 0.21%             | 2027-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                                      | Adient Global Holdings Ltd                                                       | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    390000 | PA      | $369877.23    | 0.08%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                         | Freddie Mac STACR REMIC Trust 2021-DNA3                                          | CUSIP: 35564KFG9<br>LEI: 5493000ISUYHCRLRBE46 | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $650541.32    | 0.14%             | 2033-10-25      | Floating      | 7.85%                 | No            |                  2 | On Loan: No      |
| TKC HOLDINGS INC                                                            | TKC Holdings Inc                                                                 | CUSIP: 87256YAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    840000 | PA      | $843801.84    | 0.18%             | 2029-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                                        | Edison International                                                             | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    740000 | PA      | $695447.26    | 0.15%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                                                         | Suzano Austria GmbH                                                              | CUSIP: 86964WAK8<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    760000 | PA      | $648514.76    | 0.14%             | 2032-01-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Co                                              | Structured Asset Securities Corp                                                 | CUSIP: 86359DEX1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1173888 | PA      | $1042534.15   | 0.23%             | 2035-04-25      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Popular ABS Mortgage Pass-Thro                                              | Popular ABS Mortgage Pass-Through Trust 2005-2                                   | CUSIP: 73316PCL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1248008 | PA      | $1055373.87   | 0.23%             | 2035-04-25      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| EyeCare Partners LLC                                                        | EYECARE PARTNERS LLC                                                             | CUSIP: 30233PAT7<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |    136691 | PA      | $106220.24    | 0.02%             | 2028-11-30      | Floating      | 8.84%                 | No            |                  2 | On Loan: No      |
| MRI Software LLC                                                            | MRI SOFTWARE LLC                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    284292 | PA      | $282870.38    | 0.06%             | 2027-02-10      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                                     | SWOP CDS CDX.NA.HY.44.V1                                                         | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DCR              | CORP              | US        |   3000000 | NC      | $44651.98     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                                    | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    510000 | PA      | $518814.84    | 0.11%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                                     | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    240000 | PA      | $249647.28    | 0.05%             | 2028-07-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                                           | EMRLD BORROWER LP                                                                | CUSIP: 26872NAD1<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |    169150 | PA      | $167423.82    | 0.04%             | 2031-08-04      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                         | Freddie Mac STACR Trust 2019-DNA3                                                | CUSIP: 35564TBE9<br>LEI: 549300KB1O80CETXGJ21 | Long             | ABS-MBS          | CORP              | US        |   1809000 | PA      | $2051791.68   | 0.44%             | 2049-07-25      | Floating      | 12.62%                | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                                                     | Sasol Financing USA LLC                                                          | CUSIP: 80386WAD7<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    470000 | PA      | $364318.81    | 0.08%             | 2031-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                                    | Occidental Petroleum Corp                                                        | CUSIP: 674599DH5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   2180000 | PA      | $2361991.89   | 0.51%             | 2039-06-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                | UBS Group AG                                                                     | CUSIP: 902613BF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    380000 | PA      | $411536.96    | 0.09%             | N/A             | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                                       | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    105659 | PA      | $73961.16     | 0.02%             | 2033-03-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| GSMPS Mortgage Loan Trust                                                   | GSMPS Mortgage Loan Trust 2006-RP1                                               | CUSIP: 3623413E7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    465874 | PA      | $415263.91    | 0.09%             | 2036-01-25      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                                      | Egypt Government International Bond                                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    660000 | PA      | $551738.55    | 0.12%             | 2032-01-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS NABORS INDUSTRIES INC                                                        | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-513889.66   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA, NATIONAL ASSOCIATION                                       | USD CALL VERSUS CHF PUT                                                          | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |   3671000 | NC      | $30991.30     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| CITRIX SYSTEMS INC                                                          | Citrix Systems Inc                                                               | CUSIP: 177376AE0<br>LEI: HCTKJGUQOPZ5NBK7NP58 | Long             | DBT              | CORP              | US        |    290000 | PA      | $264299.79    | 0.06%             | 2027-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ONNI Commercial Mortgage Trust                                              | ONNI Commerical Mortgage Trust 2024-APT                                          | CUSIP: 682939AG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1160000 | PA      | $1209570.05   | 0.26%             | 2039-07-15      | Variable      | 7.24%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                                    | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    810000 | PA      | $788342.46    | 0.17%             | 2027-08-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Prime Security Services Borrower, LLC (aka Protection 1 Security Solutions) | PRIME SECURITY SERVICES BOR                                                      | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |    612273 | PA      | $610500.70    | 0.13%             | 2030-10-13      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                                              | MF1 2025-FL17 LLC                                                                | CUSIP: 55287HAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1320000 | PA      | $1309150.50   | 0.28%             | 2040-02-18      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Natgasoline LLC                                                             | NATGASOLINE LLC                                                                  | CUSIP: 000000000<br>LEI: 549300OHXDYMQYZOWC24 | Long             | LON              | CORP              | US        |    510000 | PA      | $499162.50    | 0.11%             | 2030-03-29      | Floating      | 9.80%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OP CO LP/FIVE                                                    | Five Point Operating Co LP / Five Point Capital Corp                             | CUSIP: 33834YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    310576 | PA      | $316057.75    | 0.07%             | 2028-01-15      | Variable      | 10.50%                | No            |                  2 | On Loan: No      |
| Boost Newco Borrower LLC                                                    | BOOST NEWCO BORROWER LLC                                                         | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |    668325 | PA      | $667766.95    | 0.14%             | 2031-01-31      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| National Collegiate Student Lo                                              | National Collegiate Student Loan Trust 2007-2                                    | CUSIP: 63543LAD7<br>LEI: 635400VQIBXGEB9ZUC59 | Long             | ABS-O            | CORP              | US        |    298775 | PA      | $291282.91    | 0.06%             | 2033-01-25      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                 | Freddie Mac Gold Pool                                                            | CUSIP: 31281AX49<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1491 | PA      | $1504.22      | 0.00%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA, NATIONAL ASSOCIATION                                       | USD CALL VERSUS CHF PUT                                                          | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |  -3671000 | NC      | $-10089.61    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MRI Software LLC                                                            | MRI SOFTWARE LLC 1L                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1092300 | PA      | $1086838.39   | 0.24%             | 2027-02-10      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| UST Global Inc                                                              | UST GLOBAL INC                                                                   | CUSIP: 90355HAB0<br>LEI: 984500398691E4511Z04 | Long             | LON              | CORP              | US        |    670201 | PA      | $670619.42    | 0.15%             | 2028-11-20      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                                     | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    570000 | PA      | $579577.72    | 0.13%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust 2023-8                                                | CUSIP: 92540DAC9<br>LEI: 213800DTJD5UKJR53O34 | Long             | ABS-MBS          | CORP              | US        |    982009 | PA      | $995133.45    | 0.22%             | 2068-12-25      | Variable      | 6.97%                 | No            |                  2 | On Loan: No      |
| WRANGLER HOLDCO CORP                                                        | Wrangler Holdco Corp                                                             | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    960000 | PA      | $986446.08    | 0.21%             | 2032-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                                       | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     13867 | PA      | $11266.78     | 0.00%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                                                            | LPL Holdings Inc                                                                 | CUSIP: 50212YAD6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |    730000 | PA      | $703026.20    | 0.15%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United Air Lines, Inc.                                                      | UNITED AIRLINES INC                                                              | CUSIP: 90932RAP9<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | LON              | CORP              | US        |   1074125 | PA      | $1072954.32   | 0.23%             | 2031-02-22      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                                       | Toronto-Dominion Bank/The                                                        | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $310825.50    | 0.07%             | 2082-10-31      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan                                               | New Residential Mortgage Loan Trust 2017-5                                       | CUSIP: 64828NBD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    669378 | PA      | $623968.00    | 0.14%             | 2057-06-25      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | BRL/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4139.03      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                                                    | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    900000 | PA      | $887091.48    | 0.19%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Ascensus Group Holdings Inc (f/k/a Mercury Borrower Inc)                    | ASCENSUS HOLDINGS INC                                                            | CUSIP: 03836BAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1031655 | PA      | $1027786.43   | 0.22%             | 2028-08-02      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                       | American Airlines Inc                                                            | CUSIP: 023771T40<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1723493.94   | 0.37%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                                         | Bank of Nova Scotia/The                                                          | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    600000 | PA      | $615424.80    | 0.13%             | 2084-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Harbor Freight Tools USA Inc                                                | HARBOR FREIGHT TOOLS USA INC                                                     | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |   1049314 | PA      | $979555.40    | 0.21%             | 2031-06-11      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| MULTIFAMILY CONNECTICUT AVENUE                                              | Multifamily Connecticut Avenue Securities Trust 2020-01                          | CUSIP: 62548QAD3<br>LEI: 5493002KQF9IH3CTQZ40 | Long             | ABS-MBS          | CORP              | US        |   1200843 | PA      | $1221806.79   | 0.26%             | 2050-03-25      | Floating      | 8.22%                 | No            |                  2 | On Loan: No      |
| Arctic Canadian Diamond Company Ltd                                         | ARCTIC CANADIAN DIAMONDS                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1373006 | PA      | $1372266.32   | 0.30%             | 2027-12-31      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAE5<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    550000 | PA      | $506701.78    | 0.11%             | 2030-04-14      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                        | LIFEPOINT HEALTH INC                                                             | CUSIP: 75915TAL6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    726355 | PA      | $711072.06    | 0.15%             | 2031-05-16      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT                                              | Golub Capital Partners CLO 53B Ltd                                               | CUSIP: 38178CAE9<br>LEI: 254900DPK2EA9C8DGV68 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $961128.75    | 0.21%             | 2034-07-20      | Floating      | 9.01%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                                      | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              | CORP              | US        |         1 | NC      | $6454.31      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Blackhawk Network Holdings Inc.                                             | BHN MERGER SUB INC                                                               | CUSIP: 09238FAM3<br>LEI: 549300LFU3K8UIR03132 | Long             | LON              | CORP              | US        |    772244 | PA      | $772669.10    | 0.17%             | 2029-03-12      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                         | Freddie Mac STACR REMIC Trust 2021-DNA6                                          | CUSIP: 35564KLU1<br>LEI: 5493000ISONLNOUKGB71 | Long             | ABS-MBS          | CORP              | US        |    860000 | PA      | $882036.21    | 0.19%             | 2041-10-25      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                                     | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $122962.61    | 0.03%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| FOOT LOCKER INC                                                             | Foot Locker Inc                                                                  | CUSIP: 344849AA2<br>LEI: 549300X383CBNP6MTV94 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $974218.56    | 0.21%             | 2029-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Catawba Nation Gaming Authority                                             | CATAWBA NATION GAMING AUTHORITY                                                  | CUSIP: 14907EAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    710000 | PA      | $707042.85    | 0.15%             | 2032-03-28      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| SOHO Trust 2021-SOHO                                                        | Soho Trust 2021-SOHO                                                             | CUSIP: 83410JAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2190000 | PA      | $1387322.95   | 0.30%             | 2038-08-10      | Variable      | 2.79%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Trust 2021-LBA                                                                | CUSIP: 05609BAK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1290000 | PA      | $1267980.47   | 0.27%             | 2036-02-15      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| Diamond Sports Net, LLC                                                     | DIAMOND SPORTS NET LLC                                                           | CUSIP: 25277EAB8<br>LEI: 549300MPO5H6LGX4RJ82 | Long             | LON              | CORP              | US        |    585022 | PA      | $525056.86    | 0.11%             | 2028-01-02      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   1480000 | PA      | $1554297.48   | 0.34%             | 2029-03-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| ZIFF DAVIS INC                                                              | Ziff Davis Inc                                                                   | CUSIP: 48123VAF9<br>LEI: 5493008OJYGLHD7MXA18 | Long             | DBT              | CORP              | US        |    360000 | PA      | $318518.82    | 0.07%             | 2030-10-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                                              | INR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $8205.90      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   2760000 | PA      | $2611079.56   | 0.57%             | 2029-01-31      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                                             | Gen Digital Inc                                                                  | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199960.46    | 0.04%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                                                     | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                  | CUSIP: 91327TAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    532000 | PA      | $565292.56    | 0.12%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AU9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    320000 | PA      | $324737.28    | 0.07%             | 2031-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| HarborView Mortgage Loan Trust                                              | HarborView Mortgage Loan Trust 2005-9                                            | CUSIP: 41161PSM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1453877 | PA      | $1335962.33   | 0.29%             | 2035-06-20      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| TITAN INTERNATIONAL INC                                                     | Titan International Inc                                                          | CUSIP: 88830MAM4<br>LEI: 254900CXRGBE7C4B5A06 | Long             | DBT              | CORP              | US        |    880000 | PA      | $862412.58    | 0.19%             | 2028-04-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                                    | Occidental Petroleum Corp                                                        | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    505000 | PA      | $492470.34    | 0.11%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| RACKSPACE FINANCE LLC                                                       | Rackspace Finance LLC                                                            | CUSIP: 75008WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    184200 | PA      | $67412.19     | 0.01%             | 2028-05-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                                    | Permian Resources Operating LLC                                                  | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    450000 | PA      | $458273.70    | 0.10%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Co                                              | Structured Asset Securities Corp Mortgage Loan Trust 2006-ARS1                   | CUSIP: 86358LAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3092282 | PA      | $57527.26     | 0.01%             | 2036-02-25      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                                | CNH/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $329.46       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Peer Holding III BV                                                         | PEER HOLDING III BV                                                              | CUSIP: 000000000<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | NL        |    670043 | PA      | $668089.94    | 0.14%             | 2030-10-26      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| B3 SA-BRASIL BOLSA BALCA                                                    | B3 SA - Brasil Bolsa Balcao                                                      | CUSIP: 11778EAA4<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | DBT              | CORP              | BR        |    830000 | PA      | $754213.20    | 0.16%             | 2031-09-20      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MOMENTIVE SOFTWARE                                                          | MOMENTIVE SOFTWARE                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    848829 | PA      | $846706.58    | 0.18%             | 2031-07-01      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Freddie Mac - SCRT                                                          | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2018-2                    | CUSIP: 35563PFX2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   3696434 | PA      | $1357533.71   | 0.29%             | 2057-11-25      | Variable      | 2.32%                 | No            |                  2 | On Loan: No      |
| DCert Buyer Inc                                                             | Dcert Buyer Inc                                                                  | CUSIP: 24022KAB5<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |    485847 | PA      | $471609.52    | 0.10%             | 2026-10-16      | Floating      | 8.32%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                                       | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAH2<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    290000 | PA      | $280217.18    | 0.06%             | 2032-04-17      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                         | NCL Corp Ltd                                                                     | CUSIP: 62886HBN0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    850000 | PA      | $890725.20    | 0.19%             | 2029-01-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Accession Risk Management Group Inc (f/k/a RSC Acquisition Inc)             | RSC ACQUISITION INC                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    370691 | PA      | $370459.81    | 0.08%             | 2029-11-01      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    780000 | PA      | $772690.46    | 0.17%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                                | ARES XLIV CLO Ltd                                                                | CUSIP: 04016NAX1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1500000 | PA      | $1494952.60   | 0.32%             | 2034-04-15      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                                     | MXN/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-763.42      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ocean Trails CLO                                                            | Ocean Trails Clo X                                                               | CUSIP: 67516BAE1<br>LEI: 635400RMMLHBGDGXBC03 | Long             | ABS-CBDO         | CORP              | KY        |   1750000 | PA      | $1710117.68   | 0.37%             | 2034-10-15      | Floating      | 12.09%                | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer                                              | WaMu Mortgage Pass-Through Certificates Series 2005-AR19 Trust                   | CUSIP: 92925CBA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     21558 | PA      | $21115.98     | 0.00%             | 2045-12-25      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust 2023-4                                                | CUSIP: 92539TAE3<br>LEI: 2138008DC17PCNG48R87 | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1053394.65   | 0.23%             | 2068-05-25      | Variable      | 8.09%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                                       | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     64130 | PA      | $59631.91     | 0.01%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TCI-Symphony CLO                                                            | TCI-Symphony CLO 2016-1 Ltd                                                      | CUSIP: 87229WAW1<br>LEI: 5493005WLG3H3B8NI222 | Long             | ABS-CBDO         | CORP              | KY        |    480000 | PA      | $474881.85    | 0.10%             | 2032-10-13      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| Western Asset Premier Institutional Government Reserves                     | Western Asset Premier Institutional Government Reserves                          | CUSIP: 52470G494<br>LEI: 549300WB3XRN9YTWFB76 | Long             | STIV             | RF                | US        |  10171825 | NS      | $10171825.18  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Boca Commercial Mortgage Trust                                              | BOCA Commercial Mortgage Trust 2024-BOCA                                         | CUSIP: 096817AJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1020000 | PA      | $1001586.86   | 0.22%             | 2041-08-15      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                              | Government National Mortgage Association                                         | CUSIP: 38378BRQ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    493262 | PA      | $4.93         | 0.00%             | 2052-04-16      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF MOZAMBIQUE                                                      | Mozambique International Bond                                                    | CUSIP: 000000000<br>LEI: 213800759WLKYIKPER73 | Long             | DBT              | NUSS              | MZ        |    410000 | PA      | $315156.75    | 0.07%             | 2031-09-15      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| SPIRIT AVIA HOL RESTRICT                                                    | SPIRIT AVIA HOL RESTRICT                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       603 | NS      | $5035.05      | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Citibank, National Association                                              | AUD/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $384518.56    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| (Sunnova) Aurora I Issuer, LLC                                              | SUNNOVA HELIOS II ISSUER LLC 2019-A                                              | CUSIP: 86745LAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1565871 | PA      | $1297571.24   | 0.28%             | 2046-06-20      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| Accession Risk Management Group Inc (f/k/a RSC Acquisition Inc)             | RSC Acquisition 5/22 DDTL                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    271640 | PA      | $271469.81    | 0.06%             | 2029-11-01      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| Whitehorse Ltd                                                              | Whitehorse XII Ltd                                                               | CUSIP: 96525YAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    790000 | PA      | $793644.51    | 0.17%             | 2031-10-15      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| CREDIT AGRICOLE SA                                                          | Credit Agricole SA                                                               | CUSIP: 225313AJ4<br>LEI: 969500TJ5KRTCJQWXH05 | Long             | DBT              | CORP              | FR        |   1320000 | PA      | $1338045.72   | 0.29%             | N/A             | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                                          | Angolan Government International Bond                                            | CUSIP: 035198AF7<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    770000 | PA      | $606369.23    | 0.13%             | 2032-04-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Renew Financial                                                             | Renew 2024-1                                                                     | CUSIP: 75973VAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1037302 | PA      | $1038329.09   | 0.23%             | 2059-11-20      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                                         | Bank of Nova Scotia/The                                                          | CUSIP: 0641598S8<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    250000 | PA      | $259084.83    | 0.06%             | 2082-10-27      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                                     | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  82720000 | PA      | $3815945.16   | 0.83%             | 2034-11-23      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                                 | Extended Stay America Trust 2021-ESH                                             | CUSIP: 30227FAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1014187 | PA      | $1010713.54   | 0.22%             | 2038-07-15      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                                 | Ivory Coast Government International Bond                                        | CUSIP: 221625AT3<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    810000 | PA      | $764640.00    | 0.17%             | 2033-01-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                                      | USD/BRL FORWARD                                                                  | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-54974.45    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Resecuritization Trust                                               | Nomura Resecuritization Trust 2015-8R                                            | CUSIP: 65541AAP1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1079562 | PA      | $948754.54    | 0.21%             | 2047-11-25      | Variable      | 4.33%                 | No            |                  2 | On Loan: No      |
| Greywolf CLO Ltd                                                            | Greywolf CLO IV Ltd                                                              | CUSIP: 39809TAQ0<br>LEI: 5493008JNE27URH1VF66 | Long             | ABS-CBDO         | CORP              | KY        |   1520000 | PA      | $1526590.75   | 0.33%             | 2034-04-17      | Floating      | 8.19%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Inc                                                  | Morgan Stanley ABS Capital I Inc Trust 2004-NC2                                  | CUSIP: 61744CBJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1212456 | PA      | $1205027.66   | 0.26%             | 2033-12-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                    | Angel Oak Mortgage Trust 2022-3                                                  | CUSIP: 03464TAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1004438 | PA      | $920486.15    | 0.20%             | 2067-01-25      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                                    | Permian Resources Operating LLC                                                  | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    710000 | PA      | $694943.39    | 0.15%             | 2033-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                                                | MH SUB I LLC                                                                     | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |    742840 | PA      | $704769.73    | 0.15%             | 2028-05-03      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                          | Viking Cruises Ltd                                                               | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |   1030000 | PA      | $1102136.05   | 0.24%             | 2031-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                               | Citigroup Inc                                                                    | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    610000 | PA      | $598046.53    | 0.13%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WB Commercial Mortgage Trust                                                | WB Commercial Mortgage Trust 2024-HQ                                             | CUSIP: 92943PAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $658689.98    | 0.14%             | 2040-03-15      | Variable      | 8.28%                 | No            |                  2 | On Loan: No      |
| VORTEX OPCO LLC                                                             | Vortex Opco LLC                                                                  | CUSIP: 92905YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1616406 | PA      | $270263.08    | 0.06%             | 2030-04-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                                      | USD/MXN FORWARD                                                                  | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-265229.74   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                                          | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2020-3                    | CUSIP: 35563PTU3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2150000 | PA      | $2061302.61   | 0.45%             | 2060-05-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| MOMENTIVE SOFTWARE                                                          | MOMENTIVE SOFTWARE                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    177153 | PA      | $176710.42    | 0.04%             | 2031-07-01      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| VERMILION ENERGY INC                                                        | Vermilion Energy Inc                                                             | CUSIP: 923725AE5<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | DBT              | CORP              | CA        |    800000 | PA      | $672308.32    | 0.15%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                                    | Madison Park Funding XXIV Ltd                                                    | CUSIP: 55820NBC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1510000 | PA      | $1508144.72   | 0.33%             | 2029-10-20      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                                          | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    329149 | PA      | $165710.26    | 0.04%             | 2034-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| EOC Borrower LLC                                                            | ENDEAVOR OPERATING CO LLC                                                        | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1170000 | PA      | $1158785.55   | 0.25%             | 2032-03-24      | Floating      | 7.32%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                                               | FirstCash Inc                                                                    | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    350000 | PA      | $344433.99    | 0.07%             | 2030-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF JORDAN                                                           | Jordan Government International Bond                                             | CUSIP: 41809JAA3<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |    720000 | PA      | $730782.00    | 0.16%             | 2028-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                                 | Asurion LLC                                                                      | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    769990 | PA      | $754485.90    | 0.16%             | 2027-07-31      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                                          | Ford Motor Co                                                                    | CUSIP: 345370DA5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    290000 | PA      | $237122.41    | 0.05%             | 2032-02-12      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS AMERICAN AIRLINES GROUP INC                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-83271.87    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | USD/CHF FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $10224.69     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HIH Trust                                                                   | HIH Trust 2024-61P                                                               | CUSIP: 40444VAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1010000 | PA      | $1001768.20   | 0.22%             | 2041-10-15      | Floating      | 9.76%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                | UBS Group AG                                                                     | CUSIP: 902613BK3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1390000 | PA      | $1425503.38   | 0.31%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                                           | Republic of Kenya Government International Bond                                  | CUSIP: 491798AM6<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    840000 | PA      | $801672.90    | 0.17%             | 2031-02-16      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                                    | Permian Resources Operating LLC                                                  | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    860000 | PA      | $866639.20    | 0.19%             | 2032-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                              | Palmer Square Loan Funding 2024-3 Ltd                                            | CUSIP: 69690EAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1095855.33   | 0.24%             | 2032-08-08      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| WW INTERNATIONAL INC                                                        | WW International Inc                                                             | CUSIP: 98262PAA9<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | DBT              | CORP              | US        |   1770000 | PA      | $422527.05    | 0.09%             | 2029-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Evertec Group LLC                                                           | EVERTEC LLC                                                                      | CUSIP: 000000000<br>LEI: 54930056CPTQSUNQYB82 | Long             | LON              | CORP              | US        |    540000 | PA      | $540000.00    | 0.12%             | 2030-10-30      | Floating      | 7.07%                 | No            |                  3 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                                                    | iHeartCommunications Inc                                                         | CUSIP: 45174HBJ5<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    285000 | PA      | $221142.90    | 0.05%             | 2029-05-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| 280 Park Avenue Mortgage Trust                                              | 280 Park Avenue 2017-280P Mortgage Trust                                         | CUSIP: 90205FAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1038785.77   | 0.23%             | 2034-09-15      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| Getty Images Inc                                                            | ABE INVESTMENT HOLDINGS                                                          | CUSIP: 37427UAQ3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    360000 | PA      | $356850.00    | 0.08%             | 2030-02-21      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | CHF/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1127.74      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MASTR Asset Backed Securities                                               | Mastr Asset Backed Securities Trust 2007-HE2                                     | CUSIP: 57646LAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1486479 | PA      | $1277810.59   | 0.28%             | 2037-08-25      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                                               | CommScope LLC                                                                    | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    410000 | PA      | $419764.97    | 0.09%             | 2031-12-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Triton Water Holdings Inc                                                   | PRIMO BRANDS CORP                                                                | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |   1130827 | PA      | $1123617.49   | 0.24%             | 2028-03-31      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                        | LIFEPOINT HEALTH INC                                                             | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    791787 | PA      | $778426.01    | 0.17%             | 2031-05-16      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| Mountain View CLO Ltd                                                       | Mountain View CLO IX Ltd                                                         | CUSIP: 62432BAU7<br>LEI: 549300URXZ1TS31FK720 | Long             | ABS-CBDO         | CORP              | KY        |    580000 | PA      | $574338.59    | 0.12%             | 2031-07-15      | Floating      | 7.64%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                                     | Starwood Property Trust Inc                                                      | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |    580000 | PA      | $602199.32    | 0.13%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                            | Connecticut Avenue Securities Trust 2019-R03                                     | CUSIP: 20753MAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    413581 | PA      | $431514.76    | 0.09%             | 2031-09-25      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| ALLEN MEDIA LLC/CO-ISSR                                                     | Allen Media LLC / Allen Media Co-Issuer Inc                                      | CUSIP: 01771YAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1860000 | PA      | $567300.00    | 0.12%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| National Collegiate Student Lo                                              | National Collegiate Student Loan Trust 2005-3                                    | CUSIP: 63543TAJ7<br>LEI: 635400WAVVCUCCIGH375 | Long             | ABS-O            | CORP              | US        |   1468151 | PA      | $1209018.10   | 0.26%             | 2037-07-27      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                                      | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    290000 | PA      | $289257.46    | 0.06%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                                     | BRL/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $409.41       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Leia Finco US LLC                                                           | LEIA FINCO US LLC                                                                | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1170043 | PA      | $1164602.42   | 0.25%             | 2031-10-09      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                                                      | Millicom International Cellular SA                                               | CUSIP: 600814AQ0<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    513000 | PA      | $507503.97    | 0.11%             | 2029-03-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Accession Risk Management Group Inc (f/k/a RSC Acquisition Inc)             | RSC ACQUISITION INC                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    185842 | PA      | $185726.07    | 0.04%             | 2029-11-01      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                                           | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    380000 | PA      | $370288.01    | 0.08%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PUMA INTERNATIONAL FINAN                                                    | Puma International Financing SA                                                  | CUSIP: 74588YAB6<br>LEI: 222100YFBPO7IDRUBR17 | Long             | DBT              | CORP              | LU        |    830000 | PA      | $824791.75    | 0.18%             | 2029-04-25      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                                 | OCP CLO 2023-26 Ltd                                                              | CUSIP: 67351PAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    990000 | PA      | $956106.62    | 0.21%             | 2037-04-17      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                                      | EquipmentShare.com Inc                                                           | CUSIP: 29450YAB5<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    510000 | PA      | $521311.29    | 0.11%             | 2032-05-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SMRT                                                                        | SMRT 2022-MINI                                                                   | CUSIP: 78457JAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    850000 | PA      | $829874.81    | 0.18%             | 2039-01-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                         | NCL Corp Ltd                                                                     | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    360000 | PA      | $351764.82    | 0.08%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                   | Towd Point Mortgage Trust                                                        | CUSIP: 89171DAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1230000 | PA      | $1175761.55   | 0.25%             | 2053-10-25      | Variable      | 4.73%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                                      | USD/CHF FORWARD                                                                  | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-35280.42    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EMPIRE COMMUNITIES CORP                                                     | Empire Communities Corp                                                          | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |    330000 | PA      | $322393.50    | 0.07%             | 2029-05-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                                       | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     71344 | PA      | $46546.97     | 0.01%             | 2035-06-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Allen Media LLC                                                             | Allen Media LLC                                                                  | CUSIP: 01771JAG8<br>LEI: 549300ERNJNM4RN5JP79 | Long             | LON              | CORP              | US        |   3586067 | PA      | $1798412.64   | 0.39%             | 2027-02-10      | Floating      | 9.95%                 | No            |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                                                    | Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd                                 | CUSIP: 84859BAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1641171 | PA      | $1301653.39   | 0.28%             | 2030-03-06      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                      | Venture Global LNG Inc                                                           | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    170000 | PA      | $176265.85    | 0.04%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                          | Viking Cruises Ltd                                                               | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    660000 | PA      | $662985.36    | 0.14%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AmWINS Group Inc                                                            | AMWINS GROUP INC                                                                 | CUSIP: 03234TBA5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |   1170043 | PA      | $1165567.71   | 0.25%             | 2032-01-30      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                                    | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05971PAB4<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    520000 | PA      | $508626.77    | 0.11%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FULL HOUSE RESORTS INC                                                      | Full House Resorts Inc                                                           | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |   1860000 | PA      | $1742679.94   | 0.38%             | 2028-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Univision Communications Inc                                                | UNIVISION COMMUNICATIONS INC                                                     | CUSIP: 914908BG2<br>LEI: 549300YQDE2JSGTL8V47 | Long             | LON              | CORP              | US        |    327525 | PA      | $315652.22    | 0.07%             | 2029-01-31      | Floating      | 7.94%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                                              | CAD/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4398.39      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                                                      | Galaxy Pipeline Assets Bidco Ltd                                                 | CUSIP: 000000000<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |    160684 | PA      | $154982.01    | 0.03%             | 2027-09-30      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| American Money Management Corp                                              | AMMC CLO 30 Ltd                                                                  | CUSIP: 03165UAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    980000 | PA      | $984964.87    | 0.21%             | 2037-01-15      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                                                     | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    360000 | PA      | $365416.98    | 0.08%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                                    | Service Properties Trust                                                         | CUSIP: 81761LAB8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    280000 | PA      | $266994.71    | 0.06%             | 2027-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                                              | Galaxy XXVI CLO Ltd                                                              | CUSIP: 36321LAQ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1020000 | PA      | $1015967.01   | 0.22%             | 2031-11-22      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| SMRT                                                                        | SMRT 2022-MINI                                                                   | CUSIP: 78457JAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1030000 | PA      | $973227.53    | 0.21%             | 2039-01-15      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                                     | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1265000 | PA      | $1118565.30   | 0.24%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                                          | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    740586 | PA      | $359645.85    | 0.08%             | 2036-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                                                      | Millicom International Cellular SA                                               | CUSIP: 600814AR8<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    682000 | PA      | $607924.37    | 0.13%             | 2031-04-27      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    110000 | PA      | $90934.85     | 0.02%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                                      | CHF/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              | CORP              | US        |         1 | NC      | $976.68       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp                                                   | Gainwell Acquisition Corp                                                        | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    940000 | PA      | $876991.79    | 0.19%             | 2027-10-01      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                           | NatWest Group PLC                                                                | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1450000 | PA      | $1756021.26   | 0.38%             | N/A             | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                                                       | Mexico Government International Bond                                             | CUSIP: 91087BAZ3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   1020000 | PA      | $974067.36    | 0.21%             | 2036-05-07      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SENEGAL                                                         | Senegal Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |    500000 | PA      | $348816.25    | 0.08%             | 2033-05-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Inc                                                  | Morgan Stanley ABS Capital I Inc Trust 2004-NC4                                  | CUSIP: 61744CCH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1441576 | PA      | $1449521.31   | 0.31%             | 2034-04-25      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust Series 2005-5                                                    | CUSIP: 45254NPU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     39930 | PA      | $36850.46     | 0.01%             | 2035-08-25      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                 | CAESARS ENTERTAIN INC                                                            | CUSIP: 12768EAG1<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |    341710 | PA      | $337780.39    | 0.07%             | 2030-02-06      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| WW International Inc                                                        | WW International Inc                                                             | CUSIP: 92941PAC7<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | LON              | CORP              | US        |    330000 | PA      | $80025.00     | 0.02%             | 2028-04-13      | Floating      | 8.04%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                            | Altice France SA                                                                 | CUSIP: 02156LAH4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1040000 | PA      | $852846.90    | 0.18%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Cotiviti Inc                                                                | COTIVITI INC                                                                     | CUSIP: 22164MAF4<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    820000 | PA      | $803940.30    | 0.17%             | 2032-03-29      | Floating      | 7.08%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                   | CHF/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1100.38      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                                               | Citigroup Commercial Mortgage Trust 2015-P1                                      | CUSIP: 17324DAY0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    958000 | PA      | $922864.39    | 0.20%             | 2048-09-15      | Variable      | 4.52%                 | No            |                  2 | On Loan: No      |
| ARD FINANCE SA                                                              | ARD Finance SA                                                                   | CUSIP: 00191AAD8<br>LEI: 6354006P6QPGGPVJW880 | Long             | DBT              | CORP              | LU        |    310812 | PA      | $10064.99     | 0.00%             | 2027-06-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                                                        | Range Resources Corp                                                             | CUSIP: 75281ABJ7<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    940000 | PA      | $963456.93    | 0.21%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Option One Mortgage Loan Trust                                              | Option One Mortgage Loan Trust 2005-3                                            | CUSIP: 68389FHV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $878561.25    | 0.19%             | 2035-08-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                                              | MF1 2024-FL16                                                                    | CUSIP: 55287EAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1300000 | PA      | $1299172.73   | 0.28%             | 2039-11-18      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1247590.35   | 0.27%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                         | Freddie Mac STACR REMIC Trust 2022-DNA2                                          | CUSIP: 35564KSJ9<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |   1220000 | PA      | $1275263.07   | 0.28%             | 2042-02-25      | Floating      | 9.10%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                                     | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAC7<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    140000 | PA      | $141682.12    | 0.03%             | 2028-02-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| American Money Management Corp                                              | AMMC CLO 27 Ltd                                                                  | CUSIP: 00173UBA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    490000 | PA      | $481425.00    | 0.10%             | 2037-01-20      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                                     | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92840JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    590000 | PA      | $573712.87    | 0.12%             | 2027-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | GBP/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6296.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Blueberry Park CLO                                                          | Blueberry Park CLO Ltd                                                           | CUSIP: 09609QAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1430000 | PA      | $1415396.73   | 0.31%             | 2037-10-20      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                                          | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    335938 | PA      | $129310.97    | 0.03%             | 2034-02-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                                       | Caesars Entertainment Inc                                                        | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    570000 | PA      | $573478.71    | 0.12%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Project Alpha Intermediate Holding Inc                                      | PROJECT ALPHA INTERMEDIATE HOLDING INC                                           | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    985100 | PA      | $982297.14    | 0.21%             | 2030-10-28      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| KREF Holdings X LLC                                                         | KREF HOLDINGS X LLC                                                              | CUSIP: 48266YAE3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1170000 | PA      | $1162693.35   | 0.25%             | 2032-02-25      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                                    | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    378000 | PA      | $388756.01    | 0.08%             | 2031-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                            | Altice France SA                                                                 | CUSIP: 02156LAF8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   2050000 | PA      | $1675523.22   | 0.36%             | 2029-07-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                                    | OCP SA                                                                           | CUSIP: 67091TAF2<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    670000 | PA      | $678040.00    | 0.15%             | 2034-05-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| 8th Avenue Food & Provisions Inc                                            | 8th Avenue Food & Provisions Inc                                                 | CUSIP: 28253PAD1<br>LEI: 549300PBCACU45IZ2V05 | Long             | LON              | CORP              | US        |    260000 | PA      | $237006.90    | 0.05%             | 2026-10-01      | Floating      | 12.19%                | No            |                  2 | On Loan: No      |
| Caesars Entertainment, Inc.                                                 | CAESARS ENTERTAIN INC                                                            | CUSIP: 12768EAH9<br>LEI: 549300FA4CTCW903Y781 | Long             | LON              | CORP              | US        |   1142679 | PA      | $1126967.07   | 0.24%             | 2031-02-06      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | USD/CHF FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3758.12     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                                     | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    660000 | PA      | $662272.31    | 0.14%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                                        | BlueMountain CLO XXXI Ltd                                                        | CUSIP: 09631DAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1380000 | PA      | $1342297.99   | 0.29%             | 2034-04-19      | Floating      | 11.06%                | No            |                  2 | On Loan: No      |
| US RENAL CARE INC                                                           | US Renal Care Inc                                                                | CUSIP: 90355YAA5<br>LEI: 54930058SS5MF69JGN89 | Long             | DBT              | CORP              | US        |    602000 | PA      | $508690.00    | 0.11%             | 2028-06-28      | Fixed         | 10.62%                | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                                               | Citigroup Commercial Mortgage Trust 2023-SMRT                                    | CUSIP: 17291NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1270000 | PA      | $1310152.07   | 0.28%             | 2040-10-12      | Variable      | 6.01%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                                    | Lloyds Banking Group PLC                                                         | CUSIP: 000000000<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1230000 | PA      | $1683556.60   | 0.36%             | N/A             | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                                     | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    250000 | PA      | $227444.21    | 0.05%             | 2032-04-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| PM GENERAL PURCHASER LLC                                                    | PM General Purchaser LLC                                                         | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2590000 | PA      | $2503303.89   | 0.54%             | 2028-10-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AES ANDES SA                                                                | AES Andes SA                                                                     | CUSIP: 00111VAD9<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |    300000 | PA      | $300316.74    | 0.07%             | 2032-03-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                                          | Expand Energy Corp                                                               | CUSIP: 845467AT6<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1455740.47   | 0.32%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Sedgwick Claims Management Services, Inc.                                   | SEDGWICK CMS INC                                                                 | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |    915312 | PA      | $912095.13    | 0.20%             | 2031-06-27      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | CHF/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-24096.42    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RIDE 2025-SHRE                                                              | RIDE 2025-SHRE                                                                   | CUSIP: 765692AG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1140000 | PA      | $1154922.71   | 0.25%             | 2047-02-14      | Variable      | 6.97%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                                       | Caesars Entertainment Inc                                                        | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153640.24    | 0.03%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VFH PARENT / VALOR CO                                                       | VFH Parent LLC / Valor Co-Issuer Inc                                             | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    370000 | PA      | $380165.38    | 0.08%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                                                    | Petrobras Global Finance BV                                                      | CUSIP: 71647NAN9<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    690000 | PA      | $603396.79    | 0.13%             | 2115-06-05      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                           | CLARIOS GLOBAL LP                                                                | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    310000 | PA      | $304446.35    | 0.07%             | 2032-01-28      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                                       | GFL Environmental Inc                                                            | CUSIP: 36168QAL8<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    500000 | PA      | $476757.10    | 0.10%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RAILWORKS HOLDINGS LP/R                                                     | Railworks Holdings LP / Railworks Rally Inc                                      | CUSIP: 75079MAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    870000 | PA      | $872451.63    | 0.19%             | 2028-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                                            | MODENA BUYER LLC                                                                 | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |   1167111 | PA      | $1110214.03   | 0.24%             | 2031-07-01      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                                    | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   1660000 | PA      | $1662099.90   | 0.36%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ACCELERATE360 HOLD LLC                                                      | Mcclatchy Media Co LLC                                                           | CUSIP: 00456LAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7368653 | PA      | $7838404.63   | 1.70%             | 2031-12-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | 10 YEAR U.S. TREASURY NOTE                                                       | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        73 | NC      | $43272.36     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                                    | EUR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $18151.47     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SUNNOVA ENERGY CORP                                                         | Sunnova Energy Corp                                                              | CUSIP: 86745GAF0<br>LEI: 549300TH3GCD8YQUDR46 | Long             | DBT              | CORP              | US        |    340000 | PA      | $102358.70    | 0.02%             | 2026-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BCPE Empire Holdings Inc                                                    | BCPE EMPIRE HOLDINGS INC                                                         | CUSIP: 05550HAQ8<br>LEI: 549300O2G0VI2955B626 | Long             | LON              | CORP              | US        |   1067325 | PA      | $1058124.66   | 0.23%             | 2030-12-11      | Floating      | 7.57%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Corp II                                                   | CUSIP: 36269JAL2<br>LEI: 5493005BBCF84ICNQ550 | Long             | ABS-MBS          | CORP              | US        |   1125000 | PA      | $1163415.15   | 0.25%             | 2041-03-10      | Variable      | 9.26%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                                          | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    283891 | PA      | $144030.86    | 0.03%             | 2035-02-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| DCert Buyer Inc                                                             | Dcert Buyer Inc                                                                  | CUSIP: 24022KAJ8<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |   1170043 | PA      | $969673.24    | 0.21%             | 2029-02-19      | Floating      | 11.32%                | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                                        | Noble Finance II LLC                                                             | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    580000 | PA      | $553124.13    | 0.12%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Greystone Commercial Real Esta                                              | Greystone CRE Notes 2024-HC3                                                     | CUSIP: 39808MAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1240000 | PA      | $1233959.43   | 0.27%             | 2041-03-15      | Floating      | 9.65%                 | No            |                  2 | On Loan: No      |
| Fortress Credit BSL Limited                                                 | Fortress Credit BSL XII Ltd                                                      | CUSIP: 34963GAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $987397.07    | 0.21%             | 2034-10-15      | Floating      | 11.65%                | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust                                              | MSWF Commercial Mortgage Trust 2023-1                                            | CUSIP: 55376CAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    820000 | PA      | $837257.88    | 0.18%             | 2056-05-15      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Multifamily Trust                                                           | Multifamily Trust 2016-1                                                         | CUSIP: 62547L103<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    340664 | PA      | $339586.82    | 0.07%             | 2046-04-25      | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-16661.83    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CARRIAGE PURCHASER INC                                                      | Carriage Purchaser Inc                                                           | CUSIP: 14445LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    921000 | PA      | $760468.27    | 0.16%             | 2029-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                              | Palmer Square Loan Funding 2022-3 Ltd                                            | CUSIP: 69690CAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1360000 | PA      | $1360353.55   | 0.29%             | 2031-04-15      | Floating      | 7.26%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL                                                      | Brazil Letras do Tesouro Nacional                                                | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   5354000 | PA      | $859943.61    | 0.19%             | 2026-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MERCADOLIBRE INC                                                            | MercadoLibre Inc                                                                 | CUSIP: 58733RAF9<br>LEI: 549300DKPDN9M5S8GB14 | Long             | DBT              | CORP              | US        |    780000 | PA      | $692648.11    | 0.15%             | 2031-01-14      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                                             | Gen Digital Inc                                                                  | CUSIP: 668771AL2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    700000 | PA      | $721498.40    | 0.16%             | 2030-09-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                                             | Sands China Ltd                                                                  | CUSIP: 80007RAF2<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    600000 | PA      | $599448.30    | 0.13%             | 2025-08-08      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Tru                                              | SMB Private Education Loan Trust 2015-C                                          | CUSIP: 78448R106<br>LEI: 549300GD7VLLBVPDNJ81 | Long             | ABS-O            | CORP              | US        |      1092 | PA      | $273030.46    | 0.06%             | 2046-09-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Jane Street Group LLC                                                       | JANE STREET GROUP LLC                                                            | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |   1170043 | PA      | $1155587.24   | 0.25%             | 2031-12-15      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| TRANSALTA CORP                                                              | TransAlta Corp                                                                   | CUSIP: 89346DAH0<br>LEI: 984500EE2ADD850F1C96 | Long             | DBT              | CORP              | CA        |    150000 | PA      | $156379.98    | 0.03%             | 2029-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                                    | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    430000 | PA      | $444019.72    | 0.10%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | USD/BRL FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2152.42     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    980000 | PA      | $1013082.89   | 0.22%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| LTR Intermediate Holdings Inc                                               | LTR Intermediate Holdings Inc                                                    | CUSIP: 50219UAB1<br>LEI: 549300J0IFHJE2TQGX07 | Long             | LON              | CORP              | US        |   1223055 | PA      | $1163944.94   | 0.25%             | 2028-05-05      | Floating      | 8.94%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Commercial Mortgage Trust 2025-SPOT                                           | CUSIP: 12433FAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $1192533.00   | 0.26%             | 2040-04-15      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                                     | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $139824.20    | 0.03%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Trust 2024-CNYN                                                               | CUSIP: 05612HAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1115774 | PA      | $1110138.75   | 0.24%             | 2041-04-15      | Floating      | 7.01%                 | No            |                  2 | On Loan: No      |
| TANZANIA PRIVATE BL                                                         | TANZANIA PRIVATE BL                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | TZ        |   1540000 | PA      | $1511125.00   | 0.33%             | 2031-04-30      | Fixed         | 10.50%                | No            |                  3 | On Loan: No      |
| BX Trust                                                                    | BX Commercial Mortgage Trust 2019-IMC                                            | CUSIP: 05608BAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1019990.16   | 0.22%             | 2034-04-15      | Floating      | 7.27%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE BUENOS AIRE                                                    | Provincia de Buenos Aires/Government Bonds                                       | CUSIP: 000000000<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |   1396174 | PA      | $940672.38    | 0.20%             | 2037-09-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                                    | Occidental Petroleum Corp                                                        | CUSIP: 674599DR3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1197803.70   | 0.26%             | 2028-05-15      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| TURK TELEKOMUNIKASYON AS                                                    | Turk Telekomunikasyon AS                                                         | CUSIP: 90011QAD2<br>LEI: 789000A2TXOI10JZLF90 | Long             | DBT              | CORP              | TR        |    930000 | PA      | $933168.98    | 0.20%             | 2029-05-20      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                                              | USD/CAD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8709.24     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                               | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   3346050 | PA      | $3542171.29   | 0.77%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust                                               | Citigroup Mortgage Loan Trust 2022-A                                             | CUSIP: 17330VAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1024201 | PA      | $1023981.99   | 0.22%             | 2062-09-25      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                               | Carnival Corp                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    870000 | PA      | $863187.20    | 0.19%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                                          | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    576011 | PA      | $285133.58    | 0.06%             | 2035-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                                  | X CORP                                                                           | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1585944 | PA      | $1539753.26   | 0.33%             | 2029-10-26      | Floating      | 10.95%                | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Commercial Mortgage Trust 2024-KING                                           | CUSIP: 05612RAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1056097 | PA      | $1039287.22   | 0.23%             | 2034-05-15      | Floating      | 8.01%                 | No            |                  2 | On Loan: No      |
| Four Seasons Hotels Limited                                                 | FOUR SEASONS HOTELS LTD                                                          | CUSIP: 35100DAV8<br>LEI: 5493009FUVX8LHYY2202 | Long             | LON              | CORP              | CA        |    930920 | PA      | $933135.66    | 0.20%             | 2029-11-30      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US                                               | Goldentree Loan Management US Clo 6 Ltd                                          | CUSIP: 38137XAL7<br>LEI: 549300MI5PVR6JHGVV87 | Long             | ABS-CBDO         | CORP              | KY        |    450000 | PA      | $437287.05    | 0.09%             | 2035-04-20      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                               | UBS Commercial Mortgage Trust 2018-C12                                           | CUSIP: 90353DAV7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     75985 | PA      | $75467.83     | 0.02%             | 2051-08-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                                             | OHA Credit Funding 11 Ltd                                                        | CUSIP: 67115VAW2<br>LEI: 2549002MG7GTTY5LHR97 | Long             | ABS-CBDO         | CORP              | BM        |   1680000 | PA      | $1673661.33   | 0.36%             | 2037-07-19      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | USD/AUD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-12997.54    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Corp Trust 2018-LUAU                                      | CUSIP: 36256AAS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1030000 | PA      | $1027327.46   | 0.22%             | 2032-11-15      | Floating      | 9.07%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                                             | Sands China Ltd                                                                  | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    800000 | PA      | $787629.12    | 0.17%             | 2028-08-08      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| GRUPO TELEVISA SAB                                                          | Grupo Televisa SAB                                                               | CUSIP: 40049JBA4<br>LEI: 549300O4AF0C816ILN62 | Long             | DBT              | CORP              | MX        |    940000 | PA      | $627132.64    | 0.14%             | 2045-05-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL AUTO HO/AAG FH UK                                                    | Global Auto Holdings Ltd/AAG FH UK Ltd                                           | CUSIP: 00033GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    260000 | PA      | $229723.91    | 0.05%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                                    | OBX 2024-NQM1 Trust                                                              | CUSIP: 67448LAC6<br>LEI: 254900UI1468MQ7I8472 | Long             | ABS-MBS          | CORP              | US        |    629157 | PA      | $633963.58    | 0.14%             | 2063-11-25      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                              | Bombardier Inc                                                                   | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    540000 | PA      | $553556.70    | 0.12%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| STATE STREET CORP                                                           | State Street Corp                                                                | CUSIP: 857477CH4<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | DBT              | CORP              | US        |    510000 | PA      | $513075.30    | 0.11%             | N/A             | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                                              | Long Beach Mortgage Loan Trust 2005-1                                            | CUSIP: 542514KC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1330717 | PA      | $1296582.60   | 0.28%             | 2035-02-25      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                               | UBS Commercial Mortgage Trust 2017-C7                                            | CUSIP: 90276WAR8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    520417 | PA      | $507443.89    | 0.11%             | 2050-12-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                              | Bombardier Inc                                                                   | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   1210000 | PA      | $1225707.08   | 0.27%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                                              | USD/INR FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-128484.39   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                          | Energy Transfer LP                                                               | CUSIP: 86765BAQ2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   1510000 | PA      | $1310051.33   | 0.28%             | 2045-05-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                                           | GEO Group Inc/The                                                                | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    610000 | PA      | $667122.23    | 0.14%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| GEO Group Inc (The)                                                         | GEO GROUP INC/THE                                                                | CUSIP: 36170EAC1<br>LEI: 54930024XOXET7NQVZ63 | Long             | LON              | CORP              | US        |    463291 | PA      | $470384.31    | 0.10%             | 2029-04-04      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| Waikiki Beach Hotel Trust                                                   | WAIKIKI BEACH HOTEL TRUST 2019-WBM                                               | CUSIP: 93065PAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1310000 | PA      | $1294922.29   | 0.28%             | 2033-12-15      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| PAN AMERICAN ENERGY LLC                                                     | Pan American Energy LLC/Argentina                                                | CUSIP: 69784DAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | AR        |    580000 | PA      | $617900.10    | 0.13%             | 2032-04-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TUTOR PERINI CORP                                                           | Tutor Perini Corp                                                                | CUSIP: 901109AG3<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |   1570000 | PA      | $1695859.05   | 0.37%             | 2029-04-30      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| TRANSALTA CORP                                                              | TransAlta Corp                                                                   | CUSIP: 89346DAE7<br>LEI: 984500EE2ADD850F1C96 | Long             | DBT              | CORP              | CA        |    860000 | PA      | $793446.47    | 0.17%             | 2040-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EMRLD Borrower LP                                                           | EMRLD BORROWER LP                                                                | CUSIP: 26872NAC3<br>LEI: 5493000GJYE7GAQCUC61 | Long             | LON              | CORP              | US        |   1030630 | PA      | $1020390.95   | 0.22%             | 2030-05-31      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan T                                              | Alternative Loan Trust 2006-18CB                                                 | CUSIP: 02147FAQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    217130 | PA      | $197299.12    | 0.04%             | 2036-07-25      | Floating      | 10.84%                | No            |                  2 | On Loan: No      |
| COTIVITI INC                                                                | COTIVITI INC                                                                     | CUSIP: 22164MAB3<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    656852 | PA      | $644946.43    | 0.14%             | 2031-05-01      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | USD/GBP FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-523163.19   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Focus Financial Partners LLC                                                | FOCUS FINANCIAL PARTNERS LLC                                                     | CUSIP: 34416DBD9<br>LEI: 5493007L0E0VKRC2CP39 | Long             | LON              | CORP              | US        |    977550 | PA      | $967051.11    | 0.21%             | 2031-09-15      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Allwyn Entertainment Financing (Us) LLC                                     | ALLWYN ENTERTAINMENT FINANCING US LLC                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    746833 | PA      | $738117.43    | 0.16%             | 2031-06-02      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD UAE                                                            | DP World Ltd/United Arab Emirates                                                | CUSIP: 23330JAB7<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |    780000 | PA      | $722334.60    | 0.16%             | 2048-09-25      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                            | CIFC Funding 2017-III Ltd                                                        | CUSIP: 12548JAU6<br>LEI: 254900S2BZHNDNVF2L25 | Long             | ABS-CBDO         | CORP              | KY        |    790000 | PA      | $789950.07    | 0.17%             | 2037-04-20      | Floating      | 7.97%                 | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                                               | MHC Trust 2021-MHC2                                                              | CUSIP: 55293AAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1280000 | PA      | $1271267.71   | 0.28%             | 2038-05-15      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust 2021-L7                                           | CUSIP: 61772TBN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8855787 | PA      | $397425.60    | 0.09%             | 2054-10-15      | Variable      | 1.19%                 | No            |                  2 | On Loan: No      |
| AMC ENTERTAINMENT HLDGS                                                     | AMC Entertainment Holdings Inc                                                   | CUSIP: 00165CBA1<br>LEI: 549300ZO77UNR6NRBR11 | Long             | DBT              | CORP              | US        |    700000 | PA      | $483644.00    | 0.10%             | 2029-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                                       | GFL Environmental Inc                                                            | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    670000 | PA      | $697303.00    | 0.15%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LRS Holdings LLC                                                            | LRS Holdings LLC                                                                 | CUSIP: 50205HAC4<br>LEI: 2549000MQSLNQZB32779 | Long             | LON              | CORP              | US        |   1526312 | PA      | $1413746.56   | 0.31%             | 2028-08-31      | Floating      | 8.69%                 | No            |                  2 | On Loan: No      |
| Learfield Communications LLC                                                | LEARFIELD COMMUNICATIONS LLC                                                     | CUSIP: 00165HAL7<br>LEI: 549300177GK4LMS8T214 | Long             | LON              | CORP              | US        |   3282172 | PA      | $3280120.38   | 0.71%             | 2028-06-30      | Floating      | 8.82%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                                     | USD/JPY FORWARD                                                                  | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $748.25       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                                    | Benchmark 2019-B11 Mortgage Trust                                                | CUSIP: 08162BBG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  16841662 | PA      | $526982.35    | 0.11%             | 2052-05-15      | Variable      | 1.12%                 | No            |                  2 | On Loan: No      |
| Ryan LLC                                                                    | RYAN LLC                                                                         | CUSIP: 78350LAZ8<br>LEI: 549300TG86D8HZC6TE67 | Long             | LON              | CORP              | US        |    919952 | PA      | $918917.10    | 0.20%             | 2030-11-14      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                                                           | Ghana Government International Bond                                              | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    411560 | PA      | $280056.29    | 0.06%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CARRIAGE SERVICES INC                                                       | Carriage Services Inc                                                            | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    360000 | PA      | $331349.15    | 0.07%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                         | MEDLINE BORROWER LP                                                              | CUSIP: 58503UAF0<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |   1068928 | PA      | $1062969.22   | 0.23%             | 2028-10-23      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                                              | SWCH Commercial Mortgage Trust 2025-DATA                                         | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1132080.47   | 0.25%             | 2042-03-15      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| Alterra Mountain Company                                                    | ALTERRA MOUNTAIN CO                                                              | CUSIP: 46124CAQ0<br>LEI: 549300C5O4FSVNUEI843 | Long             | LON              | CORP              | US        |   1541233 | PA      | $1543159.68   | 0.33%             | 2028-08-17      | Floating      | 7.07%                 | No            |                  3 | On Loan: No      |
| VFH Parent LLC                                                              | VFH PARENT LLC                                                                   | CUSIP: 91820UAV2<br>LEI: 549300FRO9M476YHHY64 | Long             | LON              | CORP              | US        |   1860000 | PA      | $1855350.00   | 0.40%             | 2031-06-21      | Floating      | 6.82%                 | No            |                  3 | On Loan: No      |
| DISH NETWORK CORP                                                           | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1504165.11   | 0.33%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                                                    | Virgin Media Bristol LLC                                                         | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |    700000 | PA      | $681782.50    | 0.15%             | 2031-03-31      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | USD/CNH FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-99822.40    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS                                                        | Country Garden Holdings Co Ltd                                                   | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |    620000 | PA      | $53952.40     | 0.01%             | 2024-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GLOBAL AUTO HO/AAG FH UK                                                    | Global Auto Holdings Ltd/AAG FH UK Ltd                                           | CUSIP: 00033GAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   1400000 | PA      | $1122639.00   | 0.24%             | 2032-01-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Bravo Mortgage Asset Trust                                                  | Bravo Mortgage Asset Trust                                                       | CUSIP: 105667AD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   2073647 | PA      | $1832883.52   | 0.40%             | 2036-07-25      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                                    | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    950000 | PA      | $975056.25    | 0.21%             | 2032-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                                                        | Provincia de Cordoba                                                             | CUSIP: 74408DAD6<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |    637561 | PA      | $613652.46    | 0.13%             | 2027-06-01      | Variable      | 6.99%                 | No            |                  2 | On Loan: No      |
| HIG Finance 2 Limited                                                       | HOWDEN GROUP HOLDINGS LTD                                                        | CUSIP: 000000000<br>LEI: 875500V3HPKZIQP10J32 | Long             | LON              | CORP              | GB        |    231917 | PA      | $232409.58    | 0.05%             | 2030-04-18      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                                     | NYMT Loan Trust Series 2024-BPL1                                                 | CUSIP: 62956MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1010000 | PA      | $1021086.77   | 0.22%             | 2029-02-25      | Variable      | 7.15%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                                                    | Burford Capital Global Finance LLC                                               | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    950000 | PA      | $1002055.25   | 0.22%             | 2031-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                            | Connecticut Avenue Securities Trust 2019-R05                                     | CUSIP: 20754HAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    399002 | PA      | $408852.95    | 0.09%             | 2039-07-25      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAQ4<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    300000 | PA      | $291847.86    | 0.06%             | 2029-05-09      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                                | CNH/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8611.29     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                                                     | El Salvador Government International Bond                                        | CUSIP: 283875CG5<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    730000 | PA      | $727146.34    | 0.16%             | 2054-11-21      | Fixed         | 9.65%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT                                              | Golub Capital Partners CLO 76 B Ltd                                              | CUSIP: 38180BAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1060000 | PA      | $1039550.36   | 0.23%             | 2037-10-25      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortg                                              | Saluda Grade Alternative Mortgage Trust 2024-RTL4                                | CUSIP: 79584CAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2430000 | PA      | $2435319.27   | 0.53%             | 2030-02-25      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                                                     | Latam Airlines Group SA                                                          | CUSIP: 51817RAD8<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    480000 | PA      | $470400.00    | 0.10%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NMEF Funding LLC                                                            | NMEF Funding 2025-A LLC                                                          | CUSIP: 62919VAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    780000 | PA      | $785435.20    | 0.17%             | 2032-07-15      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| Sonrava Health Holdings LLC (f/k/a PDS Holdco Inc)                          | SONRAVA HEALTH CO-BORROWER LLC                                                   | CUSIP: 83569KAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   3916684 | PA      | $1478548.05   | 0.32%             | 2028-08-18      | Floating      | 11.06%                | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                | MPH ACQUISITION HOLDINGS LLC                                                     | CUSIP: 55328HAP6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |    202472 | PA      | $200346.04    | 0.04%             | 2030-12-31      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| Red Planet Borrower LLC                                                     | Red Planet Borrower LLC                                                          | CUSIP: 57165KAB2<br>LEI: 254900LGTHBRY5NA0C90 | Long             | LON              | CORP              | US        |    477526 | PA      | $468572.17    | 0.10%             | 2028-10-02      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE LLC                                                       | Time Warner Cable LLC                                                            | CUSIP: 88732JAU2<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |    370000 | PA      | $369601.53    | 0.08%             | 2039-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VR Funding LLC                                                              | VR Funding LLC                                                                   | CUSIP: 91835CAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    771556 | PA      | $761428.33    | 0.17%             | 2050-11-15      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | 5 YEAR U.S. TREASURY NOTE                                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       316 | NC      | $184516.09    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America, National Association                                       | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1803.13      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust                                              | MSWF Commercial Mortgage Trust 2023-2                                            | CUSIP: 55361AAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1240000 | PA      | $1273932.72   | 0.28%             | 2056-12-15      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                    | Western Midstream Operating LP                                                   | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1410000 | PA      | $1134061.52   | 0.25%             | 2048-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Bank                                                                        | BANK 2024-BNK48                                                                  | CUSIP: 06541GAH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1330000 | PA      | $1326350.21   | 0.29%             | 2057-10-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CLARITEV CORP                                                               | Claritev Corp                                                                    | CUSIP: 62548MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    883887 | PA      | $593145.54    | 0.13%             | 2031-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                           | CLARIOS GLOBAL LP                                                                | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    803835 | PA      | $790270.65    | 0.17%             | 2030-05-06      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Trust 2021-SDMF                                                               | CUSIP: 12434CAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1069080 | PA      | $1049296.19   | 0.23%             | 2034-09-15      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                                  | X CORP                                                                           | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    990000 | PA      | $967106.25    | 0.21%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Hayfin US XV, Ltd.                                                          | Hayfin US XV Ltd                                                                 | CUSIP: 420916AL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1680000 | PA      | $1679980.74   | 0.36%             | 2037-04-28      | Floating      | 8.54%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                                                | MH SUB I LLC                                                                     | CUSIP: 45567YAP0<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |    502747 | PA      | $442372.52    | 0.10%             | 2031-12-31      | Floating      | 8.57%                 | No            |                  2 | On Loan: No      |
| Opal Us LLC                                                                 | OPAL US LLC                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1060000 | PA      | $1052717.80   | 0.23%             | 2032-03-31      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                                      | JPY/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              | CORP              | US        |         1 | NC      | $127103.91    | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| National Collegiate Student Lo                                              | National Collegiate Student Loan Trust 2005-1                                    | CUSIP: 63543PBK1<br>LEI: 635400YFCYTJSI5XDJ17 | Long             | ABS-O            | CORP              | US        |    647633 | PA      | $586987.41    | 0.13%             | 2035-03-26      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                                    | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    120000 | PA      | $107925.38    | 0.02%             | 2031-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Phoenix Guarantor Inc                                                       | PHOENIX GUARANTOR INC                                                            | CUSIP: 71913BAK8<br>LEI: 254900JIOIDL3GSUFE55 | Long             | LON              | CORP              | US        |   1202684 | PA      | $1196249.75   | 0.26%             | 2031-02-21      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                | MPH ACQUISITION HOLDINGS LLC                                                     | CUSIP: 55328HAQ4<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |    678367 | PA      | $542693.60    | 0.12%             | 2030-12-31      | Floating      | 9.14%                 | No            |                  3 | On Loan: No      |
| MICHAELS COS INC/THE                                                        | Michaels Cos Inc/The                                                             | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    600000 | PA      | $315648.37    | 0.07%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AssuredPartners Inc.                                                        | ASSUREDPARTNERS INC                                                              | CUSIP: 04621HAW3<br>LEI: 549300HNDSDQWQ3L2P80 | Long             | LON              | CORP              | US        |    849609 | PA      | $850628.57    | 0.18%             | 2031-02-14      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                                                  | SOTERA HEALTH HOLDINGS LLC                                                       | CUSIP: 83600VAG6<br>LEI: 549300OVT7MBXFLOFU20 | Long             | LON              | CORP              | US        |   1542250 | PA      | $1541293.81   | 0.33%             | 2031-05-30      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                                | CSMC Trust 2017-CHOP                                                             | CUSIP: 12651QAU3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1059036.88   | 0.23%             | 2032-07-15      | Floating      | 11.79%                | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                                               | Citigroup Commercial Mortgage Trust 2017-P8                                      | CUSIP: 17326DAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  20605797 | PA      | $309925.61    | 0.07%             | 2050-09-15      | Variable      | 1.00%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPE                                                    | Plains All American Pipeline LP                                                  | CUSIP: 726503AE5<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    610000 | PA      | $603181.82    | 0.13%             | N/A             | Floating      | 8.69%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | CNH/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $47839.21     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Madison Iaq LLC                                                             | MADISON IAQ LLC                                                                  | CUSIP: 55759VAD0<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    800000 | PA      | $793752.00    | 0.17%             | 2032-03-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECH LLC                                                          | CommScope Technologies LLC                                                       | CUSIP: 20338HAB9<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |    150000 | PA      | $130704.86    | 0.03%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                                               | CoreCivic Inc                                                                    | CUSIP: 21871NAA9<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |   1780000 | PA      | $1735524.39   | 0.38%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                                                      | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    410000 | PA      | $400721.70    | 0.09%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION                                                    | Devon Energy Corp                                                                | CUSIP: 25179MAL7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |   1110000 | PA      | $976364.27    | 0.21%             | 2041-07-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| NCMF Trust                                                                  | NCMF Trust 2022-MFP                                                              | CUSIP: 628870AN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $728345.33    | 0.16%             | 2039-03-15      | Floating      | 9.45%                 | No            |                  2 | On Loan: No      |
| Starlight Parent LLC                                                        | STARLIGHT PARENT LLC                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1462554 | PA      | $1415481.60   | 0.31%             | 2032-04-16      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| SFO Commerical Mortgage Trust                                               | SFO Commercial Mortgage Trust 2021-555                                           | CUSIP: 78432WAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1070000 | PA      | $1024813.79   | 0.22%             | 2038-05-15      | Floating      | 6.84%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                                        | ALPHA GENERATION LLC                                                             | CUSIP: 02072UAC6<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |    587050 | PA      | $587836.65    | 0.13%             | 2031-09-30      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                                          | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2019-3                    | CUSIP: 35563PLU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1315714 | PA      | $1283577.55   | 0.28%             | 2058-10-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs Bank USA                                                      | USD/CAD FORWARD                                                                  | CUSIP: 000000000<br>LEI: KD3XUN7C6T14HNAYLU02 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-10082.05    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                                                            | AMC Networks Inc                                                                 | CUSIP: 00164VAF0<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    270000 | PA      | $199116.90    | 0.04%             | 2029-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                                              | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1000000 | PA      | $979834.10    | 0.21%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                                       | KKR Clo 17 Ltd                                                                   | CUSIP: 48251GAC3<br>LEI: 549300I0HBY0ZQ3YIB77 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $676804.75    | 0.15%             | 2034-04-15      | Floating      | 11.91%                | No            |                  2 | On Loan: No      |
| PROSUS NV                                                                   | Prosus NV                                                                        | CUSIP: 74365PAF5<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    860000 | PA      | $742755.43    | 0.16%             | 2031-07-13      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                    | Western Midstream Operating LP                                                   | CUSIP: 958254AD6<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1790000 | PA      | $1516202.28   | 0.33%             | 2044-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                                         | Intesa Sanpaolo SpA                                                              | CUSIP: 46115HCF2<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   2260000 | PA      | $2552044.16   | 0.55%             | 2053-11-28      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Corp Trust 2021-ROSS                                      | CUSIP: 36264YAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    500000 | PA      | $358700.20    | 0.08%             | 2026-05-15      | Floating      | 7.09%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                                                            | AMC Networks Inc                                                                 | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $154400.28    | 0.03%             | 2029-01-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                      | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $904443.30    | 0.20%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Starwood Property Mortgage LLC                                              | STARWOOD PROPERTY MORTGAGE LLC                                                   | CUSIP: 85570DAK8<br>LEI: 5493008SB15CNJRIOK13 | Long             | LON              | CORP              | US        |    585022 | PA      | $585021.56    | 0.13%             | 2027-11-18      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                                | USD/CNH FORWARD                                                                  | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-500.22      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| YPF SOCIEDAD ANONIMA                                                        | YPF SA                                                                           | CUSIP: 984245AQ3<br>LEI: 5493003N7447U18U5U53 | Long             | DBT              | CORP              | AR        |    570000 | PA      | $559288.69    | 0.12%             | 2027-07-21      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                        | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   1050000 | PA      | $1055083.92   | 0.23%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                    | EQT Corp                                                                         | CUSIP: 26884LBA6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    190000 | PA      | $204455.18    | 0.04%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                | UBS Group AG                                                                     | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    780000 | PA      | $747928.23    | 0.16%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                                                    | Snap Inc                                                                         | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |    560000 | PA      | $559765.02    | 0.12%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                                | Ecopetrol SA                                                                     | CUSIP: 279158AV1<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    770000 | PA      | $721268.66    | 0.16%             | 2036-01-19      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                              | NRG Energy Inc                                                                   | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    370000 | PA      | $369714.55    | 0.08%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                                                | Huntington Bank Auto Credit-Linked Notes Series 2025-1                           | CUSIP: 446438TA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    923989 | PA      | $914774.94    | 0.20%             | 2033-03-21      | Floating      | 7.85%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan T                                              | Morgan Stanley Mortgage Loan Trust 2005-2AR                                      | CUSIP: 61745M4G5<br>LEI: 549300M91PFQR7JLJ570 | Long             | ABS-MBS          | CORP              | US        |    833938 | PA      | $645383.20    | 0.14%             | 2035-04-25      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                                                    | Advanced Drainage Systems Inc                                                    | CUSIP: 00790RAB0<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    203000 | PA      | $206333.26    | 0.04%             | 2030-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                                              | USD/AUD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-30928.98    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                                                      | RR Donnelley & Sons Co                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |    960000 | PA      | $915135.79    | 0.20%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                                                       | Argentine Republic Government International Bond                                 | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    179413 | PA      | $137699.44    | 0.03%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| Peace Park CLO, Ltd.                                                        | Peace Park CLO Ltd                                                               | CUSIP: 70470NAA1<br>LEI: 549300XHXTUZ93V6SK42 | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1205396.39   | 0.26%             | 2034-10-20      | Floating      | 10.53%                | No            |                  2 | On Loan: No      |
| PAMPA ENERGIA SA                                                            | Pampa Energia SA                                                                 | CUSIP: 697660AE8<br>LEI: 254900QNIK0CVURGML24 | Long             | DBT              | CORP              | AR        |    740000 | PA      | $753388.08    | 0.16%             | 2031-09-10      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Flutter Entertainment Public Limited Company                                | FLUTTER ENTERTAINMENT PLC                                                        | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |   1170043 | PA      | $1155054.87   | 0.25%             | 2030-11-30      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                                  | Intel Corp                                                                       | CUSIP: 458140CJ7<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    290000 | PA      | $258569.63    | 0.06%             | 2053-02-10      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                                       | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    400000 | PA      | $379096.16    | 0.08%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Commercial Mortgage Trust 2024-BIO2                                           | CUSIP: 05613GAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1030000 | PA      | $1005459.43   | 0.22%             | 2041-08-13      | Variable      | 7.97%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                                        | Alpha Generation LLC                                                             | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    350000 | PA      | $357000.70    | 0.08%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Terex Corporation                                                           | TEREX CORP                                                                       | CUSIP: 88078FBM9<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | LON              | CORP              | US        |    330000 | PA      | $330000.00    | 0.07%             | 2031-10-08      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | EUR/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $27971.71     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank                                                                        | BANK 2023-BNK46                                                                  | CUSIP: 06541DAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1180000 | PA      | $896590.43    | 0.19%             | 2056-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GSMPS Mortgage Loan Trust                                                   | GSMPS Mortgage Loan Trust 2006-RP2                                               | CUSIP: 36298XAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1168536 | PA      | $995565.80    | 0.22%             | 2036-04-25      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Accession Risk Management Group Inc (f/k/a RSC Acquisition Inc)             | RSC ACQUISITION INC                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    512353 | PA      | $512032.82    | 0.11%             | 2029-11-01      | Floating      | 9.05%                 | No            |                  2 | On Loan: No      |
| US AIRWAYS 2013-1A PTT                                                      | US Airways 2013-1 Class A Pass Through Trust                                     | CUSIP: 90346WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    274431 | PA      | $273223.90    | 0.06%             | 2025-11-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Horizon Aircraft Finance                                                    | Horizon Aircraft Finance III Ltd                                                 | CUSIP: 44040JAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    639652 | PA      | $610500.10    | 0.13%             | 2039-11-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| Pioneer Aircraft Finance Limit                                              | Pioneer Aircraft Finance Ltd                                                     | CUSIP: 72353PAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | KY        |    723576 | PA      | $702752.45    | 0.15%             | 2044-06-15      | Fixed         | 3.97%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                                         | Nigeria Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    720000 | PA      | $631656.00    | 0.14%             | 2030-02-23      | Fixed         | 7.14%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                                                    | Uruguay Government International Bond                                            | CUSIP: 917288BP6<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   6027267 | PA      | $143268.63    | 0.03%             | 2045-05-16      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                | UBS Group AG                                                                     | CUSIP: 225401BH0<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    960000 | PA      | $930047.17    | 0.20%             | N/A             | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                          | Dominican Republic International Bond                                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    510000 | PA      | $459127.50    | 0.10%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION                                   | IRS BRL                                                                          | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-33456.14    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                                      | First Brands Group LLC                                                           | CUSIP: 31935HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    821199 | PA      | $765254.72    | 0.17%             | 2027-03-30      | Floating      | 9.54%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                                       | Bausch Health Cos Inc                                                            | CUSIP: 071734AK3<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $65625.00     | 0.01%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                                  | MFA 2023-NQM4 Trust                                                              | CUSIP: 55286LAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    425056 | PA      | $430224.11    | 0.09%             | 2068-12-25      | Variable      | 6.78%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH AMERICAS                                                      | Bausch Health Americas Inc                                                       | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |    180000 | PA      | $171176.40    | 0.04%             | 2027-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                                                    | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1052028.45   | 0.23%             | 2029-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 B PTT                                                     | United Airlines 2020-1 Class B Pass Through Trust                                | CUSIP: 90932VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    232662 | PA      | $231877.26    | 0.05%             | 2026-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                                              | ARES1 2024-IND2                                                                  | CUSIP: 04021EAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1290000 | PA      | $1291067.86   | 0.28%             | 2034-10-15      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| Katayma CLO Ltd                                                             | Katayma CLO I Ltd                                                                | CUSIP: 48585JAJ9<br>LEI: 254900I6JJYMZNFX8987 | Long             | ABS-CBDO         | CORP              | JE        |    340000 | PA      | $341848.14    | 0.07%             | 2036-10-20      | Floating      | 9.52%                 | No            |                  2 | On Loan: No      |
| Spirit Aviation Holdings Inc                                                | Spirit Aviation Holdings Inc                                                     | CUSIP: 84863V101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104017 | NS      | $868541.95    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BX Trust                                                                    | BX Commercial Mortgage Trust 2020-VIVA                                           | CUSIP: 12433XAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1235000 | PA      | $1089839.71   | 0.24%             | 2044-03-11      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                                            | IRS MXN                                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |         1 | NC      | $198858.20    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                                       | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    550000 | PA      | $553564.51    | 0.12%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION                                   | IRS BRL                                                                          | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-600945.70   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | U.S. TREASURY BOND                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        25 | NC      | $20081.75     | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION                                   | TRS JPEIFNTR INDEX                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               | CORP              | US        |         1 | NC      | $-176554.51   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA, NATIONAL ASSOCIATION                                       | IRS BRL                                                                          | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-328080.35   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                                              | MF1 2025-FL17 LLC                                                                | CUSIP: 55287HAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    460000 | PA      | $458446.59    | 0.10%             | 2040-02-18      | Floating      | 7.06%                 | No            |                  2 | On Loan: No      |
| A-Ap Buyer, Inc.                                                            | A-AP BUYER INC                                                                   | CUSIP: 00036FAB0<br>LEI: 254900BOO8W9IR1VYO11 | Long             | LON              | CORP              | US        |    897750 | PA      | $897750.00    | 0.19%             | 2031-09-09      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Knight Health Holdings LLC                                                  | Knight Health Holdings LLC                                                       | CUSIP: 49902TAB8<br>LEI: 2549008OACTDEJGJC870 | Long             | LON              | CORP              | US        |    629447 | PA      | $293322.28    | 0.06%             | 2028-12-23      | Floating      | 9.69%                 | No            |                  2 | On Loan: No      |
| Cotiviti Inc                                                                | COTIVITI INC                                                                     | CUSIP: 22164MAD9<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    640000 | PA      | $635203.20    | 0.14%             | 2031-05-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                                       | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     99070 | PA      | $70092.31     | 0.02%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Team Services Group LLC                                                     | TEAM PUBLIC CHOICES LLC                                                          | CUSIP: 87821EAG8<br>LEI: 2549000UQACQVCO13Y82 | Long             | LON              | CORP              | US        |    488775 | PA      | $475336.13    | 0.10%             | 2027-12-20      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAF8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   2150000 | PA      | $1521051.90   | 0.33%             | 2046-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                                                    | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    330000 | PA      | $309117.11    | 0.07%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | 2 YEAR U.S. TREASURY NOTE                                                        | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       276 | NC      | $543256.89    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CFK Trust                                                                   | CFK Trust 2020-MF2                                                               | CUSIP: 12529AAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1700000 | PA      | $1218536.37   | 0.26%             | 2039-03-15      | Variable      | 3.57%                 | No            |                  2 | On Loan: No      |
| KNDR Trust 2021-KIND                                                        | KIND Trust 2021-KIND                                                             | CUSIP: 482606AN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1239818 | PA      | $1213425.58   | 0.26%             | 2038-08-15      | Floating      | 6.74%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                      | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1760000 | PA      | $1788140.64   | 0.39%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| SPIRIT AIRLINES LLC                                                         | SPIRIT AIRLINES LLC                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73904 | NS      | $617098.40    | 0.13%             |  |  |  | No            |                  3 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                                                    | MPH Acquisition Holdings LLC                                                     | CUSIP: 553283AF9<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    157722 | PA      | $145282.82    | 0.03%             | 2030-12-31      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF BAHAMAS                                                     | Bahamas Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |    910000 | PA      | $919704.54    | 0.20%             | 2032-10-15      | Fixed         | 8.95%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                                             | Sands China Ltd                                                                  | CUSIP: 80007RAS4<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    210000 | PA      | $179279.31    | 0.04%             | 2031-08-08      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Commercial Mortgage Trust 2020-VIVA                                           | CUSIP: 12433XAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1280000 | PA      | $1160853.12   | 0.25%             | 2044-03-11      | Variable      | 3.67%                 | No            |                  2 | On Loan: No      |
| VERICAST CORP/HARLAND                                                       | Vericast Corp/Harland Clarke/Checks in the Mail/Valassis Comm/Valassis Direct    | CUSIP: 92342NAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    499198 | PA      | $595294.15    | 0.13%             | 2030-12-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                                         | Axon Enterprise Inc                                                              | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    190000 | PA      | $193781.73    | 0.04%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | US ULTRA BOND CBT                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       116 | NC      | $108.30       | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| COOPERATIEVE RABOBANK UA                                                    | Cooperatieve Rabobank UA                                                         | CUSIP: 000000000<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   1600000 | PA      | $1815457.83   | 0.39%             | N/A             | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                                               | MHC Commercial Mortgage Trust 2021-MHC                                           | CUSIP: 55316VAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1040000 | PA      | $1033056.34   | 0.22%             | 2038-04-15      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| First Franklin Mtg Loan Asset                                               | First Franklin Mortgage Loan Trust 2003-FF4                                      | CUSIP: 32027NDU2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350101 | PA      | $342408.51    | 0.07%             | 2033-10-25      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                                     | United Rentals North America Inc                                                 | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    230000 | PA      | $233150.31    | 0.05%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK                                                     | Inter-American Development Bank                                                  | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | N/A       | 378000000 | PA      | $4616203.85   | 1.00%             | 2030-10-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                         | CLYDESDALE ACQUISITION HOLDINGS INC                                              | CUSIP: 18972FAF9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |     12059 | PA      | $11976.10     | 0.00%             | 2032-04-01      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                         | Freddie Mac STACR Securitized Participation Interests Trust 2017-SPI1            | CUSIP: 3137G1CG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    627265 | PA      | $466582.14    | 0.10%             | 2047-09-25      | Variable      | 4.11%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                                         | Medline Borrower LP                                                              | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |    290000 | PA      | $275679.11    | 0.06%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| 720 East CLO Ltd.                                                           | 720 East CLO VII Ltd                                                             | CUSIP: 81789NAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    630000 | PA      | $609699.28    | 0.13%             | 2037-04-20      | Floating      | 9.03%                 | No            |                  2 | On Loan: No      |
| CALATLANTIC GROUP                                                           | CalAtlantic Group LLC                                                            | CUSIP: 128195AN4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $244666.54    | 0.05%             | 2026-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | US 10YR ULTRA                                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -6 | NC      | $-19416.66    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Natixis Commercial Mortgage Se                                              | Natixis Commercial Mortgage Securities Trust 2019-FAME                           | CUSIP: 63873VAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    660000 | PA      | $336742.30    | 0.07%             | 2036-08-15      | Variable      | 4.54%                 | No            |                  2 | On Loan: No      |
| Bank                                                                        | BANK 2022-BNK44                                                                  | CUSIP: 06540KBQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2110000 | PA      | $1550624.02   | 0.34%             | 2032-11-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Dayforce Inc                                                                | DAYFORCE INC                                                                     | CUSIP: 23958CAD9<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |    353879 | PA      | $354321.51    | 0.08%             | 2031-02-26      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| SANDS CHINA LTD                                                             | Sands China Ltd                                                                  | CUSIP: 80007RAQ8<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    530000 | PA      | $475406.98    | 0.10%             | 2029-03-08      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| ARCTIC CANADIAN DIAMONDS                                                    | ARCTIC CANADIAN DIAMONDS                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      1388 | NS      | $41362.90     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| FHLMC Multifamily Structured P                                              | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FWG95<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1481073 | PA      | $83025.57     | 0.02%             | 2030-06-25      | Variable      | 1.42%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                                                | CD 2017-CD5 Mortgage Trust                                                       | CUSIP: 12515HAZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10000 | PA      | $9717.13      | 0.00%             | 2050-08-15      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                                             | NEXUS BUYER LLC                                                                  | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |    858548 | PA      | $857178.87    | 0.19%             | 2031-07-31      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| Thermostat Purchaser III Inc                                                | THERMOSTAT PURCHASER III INC                                                     | CUSIP: 88366MAE4<br>LEI: 254900K7OD47ERJZN242 | Long             | LON              | CORP              | US        |   1172270 | PA      | $1170077.61   | 0.25%             | 2028-08-31      | Floating      | 8.55%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                                    | Lloyds Banking Group PLC                                                         | CUSIP: 53944YAV5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    600000 | PA      | $616596.00    | 0.13%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-24

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

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer