# EDGAR Filing Document

**Accession Number:** 0001474103
**File Stem:** 0000940400-26-011572
**Filing Date:** 2026-3
**Character Count:** 99445
**Document Hash:** 9139921e14b63b50c289aedb4e0edc8a
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-011572.hdr.sgml**: 20260326

**ACCESSION NUMBER**: 0000940400-26-011572

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260130

**FILED AS OF DATE**: 20260326

**DATE AS OF CHANGE**: 20260326

**PERIOD START**: 20261031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Legg Mason Global Asset Management Trust
- **CENTRAL INDEX KEY:** 0001474103

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22338
- **FILM NUMBER:** 26797460

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INTERNATIONAL DRIVE
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 410-539-0000

**MAIL ADDRESS:**
- **STREET 1:** 100 INTERNATIONAL DRIVE
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202

## Series and Classes Contracts Data

### BrandywineGLOBAL - Multi-Sector Opportunities Fund (Series ID: S000031479)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000097870 | Class A      | LROAX           |
| C000097872 | Class FI     | LBAFX           |
| C000097873 | Class R      | LBARX           |
| C000097874 | Class I      | LROIX           |
| C000097875 | Class IS     | LROSX           |
| C000116978 | Class C      | LAOCX           |

## Nport-Ex

Schedule of Investments (unaudited)

January 31, 2026

***If you need assistance accessing this content, please reach out to your sales representative or send an email to*** <u>accessibility@franklintempleton.com.</u>

 **BrandywineGLOBAL — Multi-Sector Opportunities Fund**

&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>(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity <br>Date<br>| Face <br>Amount<br>| Value |
| **Asset-Backed Securities — 35.5%** | **Asset-Backed Securities — 35.5%** | **Asset-Backed Securities — 35.5%** | **Asset-Backed Securities — 35.5%** | **Asset-Backed Securities — 35.5%** |
| &nbsp;&nbsp;&nbsp; ACHM Trust, 2025-HE3 A | &nbsp;&nbsp; 5.202% | &nbsp;&nbsp; 11/25/55 | &nbsp;&nbsp; $731233<br>| &nbsp;&nbsp;&nbsp; $735674<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Affirm Master Trust, 2025-3A B | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/16/34 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 501574<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Affirm Master Trust, 2025-3A D | &nbsp;&nbsp; 5.090% | &nbsp;&nbsp; 10/16/34 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 503165<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; American Credit Acceptance Receivables Trust, 2025-4 C | &nbsp;&nbsp; 4.830% | &nbsp;&nbsp; 1/13/31 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 503737<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Avant Credit Card Master Trust, 2025-1A B | &nbsp;&nbsp; 5.080% | &nbsp;&nbsp; 4/15/31 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 498729<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Carmax Select Receivables Trust, 2025-B D | &nbsp;&nbsp; 5.330% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 303208<br>|
| &nbsp;&nbsp;&nbsp; Cogent Ipv4 LLC, 2025-1A A2 | &nbsp;&nbsp; 6.646% | &nbsp;&nbsp; 4/25/55 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 959493<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; College Avenue Student Loans LLC, 2021-B D | &nbsp;&nbsp; 3.780% | &nbsp;&nbsp; 6/25/52 | &nbsp;&nbsp; 561262<br>| &nbsp;&nbsp;&nbsp; 527953<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Continental Finance Credit Card ABS Master Trust, 2025-A A | &nbsp;&nbsp; 5.400% | &nbsp;&nbsp; 12/17/35 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 501053<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; COOPR Residential Mortgage Trust, 2025-CES3 A1A | &nbsp;&nbsp; 4.840% | &nbsp;&nbsp; 9/25/60 | &nbsp;&nbsp; 479183<br>| &nbsp;&nbsp;&nbsp; 480377<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Acceptance Auto Loan Trust, 2025-2A C | &nbsp;&nbsp; 5.380% | &nbsp;&nbsp; 3/17/36 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 508974<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Drive Auto Receivables Trust, 2025-2 A2 | &nbsp;&nbsp; 4.290% | &nbsp;&nbsp; 10/16/28 | &nbsp;&nbsp; 963327<br>| &nbsp;&nbsp;&nbsp; 964021<br>|
| &nbsp;&nbsp;&nbsp; Drive Auto Receivables Trust, 2025-2 D | &nbsp;&nbsp; 4.900% | &nbsp;&nbsp; 12/15/32 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 501551<br>|
| &nbsp;&nbsp;&nbsp; Exeter Automobile Receivables Trust, 2025-5A D | &nbsp;&nbsp; 5.160% | &nbsp;&nbsp; 3/15/32 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 503966<br>|
| &nbsp;&nbsp;&nbsp; FIGRE Trust, 2025-HE8 B | &nbsp;&nbsp; 5.356% | &nbsp;&nbsp; 11/25/55 | &nbsp;&nbsp; 478773<br>| &nbsp;&nbsp;&nbsp; 483336<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; GLS Auto Select Receivables Trust, 2025-1A A2 | &nbsp;&nbsp; 4.710% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 632847<br>| &nbsp;&nbsp;&nbsp; 637614<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Hertz Vehicle Financing LLC, 2022-2A C | &nbsp;&nbsp; 2.950% | &nbsp;&nbsp; 6/26/28 | &nbsp;&nbsp; 209000<br>| &nbsp;&nbsp;&nbsp; 204321<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Invesco CLO Ltd., 2022-1A D (3 mo. Term SOFR + 3.050%) | &nbsp;&nbsp; 6.718% | &nbsp;&nbsp; 4/20/35 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 370458<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Merchants Fleet Funding LLC, 2023-1A A | &nbsp;&nbsp; 7.210% | &nbsp;&nbsp; 5/20/36 | &nbsp;&nbsp; 711407<br>| &nbsp;&nbsp;&nbsp; 714094<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mission Lane Credit Card Master Trust, 2025-C C | &nbsp;&nbsp; 5.370% | &nbsp;&nbsp; 12/16/30 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 500785<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; OCCU Auto Receivables Trust, 2023-1A A3 | &nbsp;&nbsp; 6.230% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 244954<br>| &nbsp;&nbsp;&nbsp; 246232<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; OnDeck Asset Securitization Trust LLC, 2024-2A A | &nbsp;&nbsp; 4.980% | &nbsp;&nbsp; 10/17/31 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 150653<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Pagaya AI Debt Grantor Trust, 2024-10 A | &nbsp;&nbsp; 5.183% | &nbsp;&nbsp; 6/15/32 | &nbsp;&nbsp; 157308<br>| &nbsp;&nbsp;&nbsp; 158065<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Pagaya AI Debt Grantor Trust, 2025-6 C | &nbsp;&nbsp; 5.008% | &nbsp;&nbsp; 4/15/33 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 499270<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Point Securitization Trust, 2025-2 A1 | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 9/25/55 | &nbsp;&nbsp; 499897<br>| &nbsp;&nbsp;&nbsp; 501978<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Regional Management Issuance Trust, 2024-2 D | &nbsp;&nbsp; 6.330% | &nbsp;&nbsp; 12/15/33 | &nbsp;&nbsp; 201000<br>| &nbsp;&nbsp;&nbsp; 202891<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Republic Finance Issuance Trust, 2025-A D | &nbsp;&nbsp; 6.030% | &nbsp;&nbsp; 11/20/34 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 301156<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Research-Driven Pagaya Motor Trust, 2025-5A C | &nbsp;&nbsp; 5.473% | &nbsp;&nbsp; 6/26/34 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 503349<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RFS Asset Securitization V LLC, 2025-1 A | &nbsp;&nbsp; 6.049% | &nbsp;&nbsp; 5/15/32 | &nbsp;&nbsp; 885000<br>| &nbsp;&nbsp;&nbsp; 895176<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SoFi Consumer Loan Program Trust, 2025-4 A | &nbsp;&nbsp; 4.240% | &nbsp;&nbsp; 8/25/35 | &nbsp;&nbsp; 815891<br>| &nbsp;&nbsp;&nbsp; 817632<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SoFi Professional Loan Program Trust, 2018-C A2FX | &nbsp;&nbsp; 3.590% | &nbsp;&nbsp; 1/25/48 | &nbsp;&nbsp; 215521<br>| &nbsp;&nbsp;&nbsp; 214524<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Unlock HEA Trust, 2025-2 A | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 11/25/41 | &nbsp;&nbsp; 491522<br>| &nbsp;&nbsp;&nbsp; 491603<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Upgrade Master Pass-Thru Trust, 2025-ST8 D | &nbsp;&nbsp; 5.912% | &nbsp;&nbsp; 12/15/33 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 501341<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Upstart Securitization Trust, 2025-3 C | &nbsp;&nbsp; 5.430% | &nbsp;&nbsp; 9/20/35 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 298294<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Veros Auto Receivables Trust, 2026-1 D | &nbsp;&nbsp; 5.660% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 502326<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wingspire Equipment Finance LLC, 2025-1A C | &nbsp;&nbsp; 4.760% | &nbsp;&nbsp; 9/20/33 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 501791<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Zayo Issuer LLC, 2025-2A A2 | &nbsp;&nbsp; 5.953% | &nbsp;&nbsp; 6/20/55 | &nbsp;&nbsp; 1380000<br>| &nbsp;&nbsp;&nbsp; 1418932<br> <sup>(a)</sup><br>|
| **Total Asset-Backed Securities (Cost — $19,012,404)** | **Total Asset-Backed Securities (Cost — $19,012,404)** | **Total Asset-Backed Securities (Cost — $19,012,404)** | **Total Asset-Backed Securities (Cost — $19,012,404)** | &nbsp;&nbsp; **19109296** |
| **Corporate Bonds & Notes — 29.6%** | **Corporate Bonds & Notes — 29.6%** | **Corporate Bonds & Notes — 29.6%** | **Corporate Bonds & Notes — 29.6%** | **Corporate Bonds & Notes — 29.6%** |
| **Communication Services — 1.0%** | **Communication Services — 1.0%** | **Communication Services — 1.0%** | **Communication Services — 1.0%** | **Communication Services — 1.0%** |
| *Entertainment — 0.8%* | *Entertainment — 0.8%* | *Entertainment — 0.8%* | *Entertainment — 0.8%* | *Entertainment — 0.8%* |
| &nbsp;&nbsp;&nbsp; Flutter Treasury DAC, Senior Secured Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 4/29/29 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *412690*<br> <sup>(a)</sup><br>|
| *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; ZipRecruiter Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *138940*<br> <sup>(a)</sup><br>|
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **551630** |

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — Multi-Sector Opportunities Fund 2026 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **BrandywineGLOBAL — Multi-Sector Opportunities Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| **Consumer Discretionary — 3.5%** | **Consumer Discretionary — 3.5%** | **Consumer Discretionary — 3.5%** | **Consumer Discretionary — 3.5%** | **Consumer Discretionary — 3.5%** |
| *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; Adtalem Global Education Inc., Senior Secured Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 3/1/28 | &nbsp;&nbsp; $200000<br>| &nbsp;&nbsp;&nbsp; $*199691*<br> <sup>(a)</sup><br>|
| *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Lender LLC/Rivers Enterprise Lender Corp., Senior Secured <br> Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 75000<br>| &nbsp;&nbsp;&nbsp; 76172<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Travel + Leisure Co., Senior Secured Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 7/31/26 | &nbsp;&nbsp; 375000<br>| &nbsp;&nbsp;&nbsp; 376619<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 10/15/33 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 304279<br> <sup>(a)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *757070* |
| *Household Durables — 1.4%* | *Household Durables — 1.4%* | *Household Durables — 1.4%* | *Household Durables — 1.4%* | *Household Durables — 1.4%* |
| &nbsp;&nbsp;&nbsp; Dream Finders Homes Inc., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 375000<br>| &nbsp;&nbsp;&nbsp; 386926<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Installed Building Products Inc., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 2/1/34 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp; 352887<br> <sup>(a)</sup><br>|
| *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | &nbsp;&nbsp; *739813* |
| *Specialty Retail — 0.3%* | *Specialty Retail — 0.3%* | *Specialty Retail — 0.3%* | *Specialty Retail — 0.3%* | *Specialty Retail — 0.3%* |
| &nbsp;&nbsp;&nbsp; Gap Inc., Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 10/1/31 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *185565*<br> <sup>(a)</sup><br>|
| *Textiles, Apparel & Luxury Goods — 0.0%††* | *Textiles, Apparel & Luxury Goods — 0.0%††* | *Textiles, Apparel & Luxury Goods — 0.0%††* | *Textiles, Apparel & Luxury Goods — 0.0%††* | *Textiles, Apparel & Luxury Goods — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC, Second Out Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 376000<br>| &nbsp;&nbsp;&nbsp; 1,880<br> \*<sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC, Third Out Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 14100<br>| &nbsp;&nbsp;&nbsp; 42<br> \*<sup>(a)(c)</sup><br>|
| *Total Textiles, Apparel & Luxury Goods* | *Total Textiles, Apparel & Luxury Goods* | *Total Textiles, Apparel & Luxury Goods* | *Total Textiles, Apparel & Luxury Goods* | &nbsp;&nbsp; *1922* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **1884061** |
| **Energy — 3.2%** | **Energy — 3.2%** | **Energy — 3.2%** | **Energy — 3.2%** | **Energy — 3.2%** |
| *Energy Equipment & Services — 0.7%* | *Energy Equipment & Services — 0.7%* | *Energy Equipment & Services — 0.7%* | *Energy Equipment & Services — 0.7%* | *Energy Equipment & Services — 0.7%* |
| &nbsp;&nbsp;&nbsp; Enerflex Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 225000<br>| &nbsp;&nbsp;&nbsp; 232697<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; WBI Operating LLC, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 151214<br> <sup>(a)</sup><br>|
| *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | &nbsp;&nbsp; *383911* |
| *Oil, Gas & Consumable Fuels — 2.5%* | *Oil, Gas & Consumable Fuels — 2.5%* | *Oil, Gas & Consumable Fuels — 2.5%* | *Oil, Gas & Consumable Fuels — 2.5%* | *Oil, Gas & Consumable Fuels — 2.5%* |
| &nbsp;&nbsp;&nbsp; BKV Upstream Midstream LLC, Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 253324<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Coterra Energy Operating Co., Senior Notes | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 5/15/27 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 491417<br>|
| &nbsp;&nbsp;&nbsp; DBR Land Holdings LLC, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 153750<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Saturn Oil & Gas Inc., Senior Secured Notes | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 292000<br>| &nbsp;&nbsp;&nbsp; 298942<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SM Energy Co., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 9/15/26 | &nbsp;&nbsp; 107000<br>| &nbsp;&nbsp;&nbsp; 107484<br>|
| *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | &nbsp;&nbsp; *1304917* |
| **Total Energy** | **Total Energy** | **Total Energy** | **Total Energy** | &nbsp;&nbsp; **1688828** |
| **Financials — 14.2%** | **Financials — 14.2%** | **Financials — 14.2%** | **Financials — 14.2%** | **Financials — 14.2%** |
| *Banks — 4.3%* | *Banks — 4.3%* | *Banks — 4.3%* | *Banks — 4.3%* | *Banks — 4.3%* |
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Junior Subordinated Notes (3.875% to 2/18/26 then 5 year Treasury <br> Constant Maturity Rate + 3.417%) | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 2/18/26 | &nbsp;&nbsp; 1590000<br>| &nbsp;&nbsp;&nbsp; 1588097<br> <sup>(b)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., Junior Subordinated Notes (3.900% to 3/15/26 then 5 year <br> Treasury Constant Maturity Rate + 3.453%) | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 3/15/26 | &nbsp;&nbsp; 739000<br>| &nbsp;&nbsp;&nbsp; 738558<br> <sup>(b)(d)</sup><br>|
| *Total Banks* | *Total Banks* | *Total Banks* | *Total Banks* | &nbsp;&nbsp; *2326655* |
| *Capital Markets — 2.1%* | *Capital Markets — 2.1%* | *Capital Markets — 2.1%* | *Capital Markets — 2.1%* | *Capital Markets — 2.1%* |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp., Junior Subordinated Notes (4.000% to 6/1/26 then 5 year <br> Treasury Constant Maturity Rate + 3.168%) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/26 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 408554<br> <sup>(b)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; CI Financial Corp., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 5/30/29 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp; 426892<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CI Financial Corp., Senior Notes | &nbsp;&nbsp; 3.200% | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 272467<br>|
| *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *1107913* |

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — Multi-Sector Opportunities Fund 2026 Quarterly Report

------

 **BrandywineGLOBAL — Multi-Sector Opportunities Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Consumer Finance — 5.0%* | *Consumer Finance — 5.0%* | *Consumer Finance — 5.0%* | *Consumer Finance — 5.0%* | *Consumer Finance — 5.0%* |
| &nbsp;&nbsp;&nbsp; American Express Co., Junior Subordinated Notes (3.550% to 9/15/26 then 5 year <br> Treasury Constant Maturity Rate + 2.854%) | &nbsp;&nbsp; 3.550% | &nbsp;&nbsp; 9/15/26 | &nbsp;&nbsp; $820000<br>| &nbsp;&nbsp;&nbsp; $811980<br> <sup>(b)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Atlanticus Holdings Corp., Senior Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 9/1/30 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 286215<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp., Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 12/15/28 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 524561<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Encore Capital Group Inc., Senior Secured Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 209943<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Enova International Inc., Senior Notes | &nbsp;&nbsp; 11.250% | &nbsp;&nbsp; 12/15/28 | &nbsp;&nbsp; 450000<br>| &nbsp;&nbsp;&nbsp; 476761<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; FirstCash Inc., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 201093<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; PROG Holdings Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 198646<br> <sup>(a)</sup><br>|
| *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | &nbsp;&nbsp; *2709199* |
| *Financial Services — 2.4%* | *Financial Services — 2.4%* | *Financial Services — 2.4%* | *Financial Services — 2.4%* | *Financial Services — 2.4%* |
| &nbsp;&nbsp;&nbsp; Block Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp; 357685<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jefferson Capital Holdings LLC, Senior Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 210015<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Provident Funding Associates LP/PFG Finance Corp., Senior Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 9/15/29 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp; 367383<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SGUS LLC, Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 32900<br>| &nbsp;&nbsp;&nbsp; 1,069<br> \*<sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 296566<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Velocity Commercial Capital LLC, Senior Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 75000<br>| &nbsp;&nbsp;&nbsp; 76219<br> <sup>(a)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *1308937* |
| *Insurance — 0.4%* | *Insurance — 0.4%* | *Insurance — 0.4%* | *Insurance — 0.4%* | *Insurance — 0.4%* |
| &nbsp;&nbsp;&nbsp; Ryan Specialty LLC, Senior Secured Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 8/1/32 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *203432*<br> <sup>(a)</sup><br>|
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **7656136** |
| **Health Care — 1.4%** | **Health Care — 1.4%** | **Health Care — 1.4%** | **Health Care — 1.4%** | **Health Care — 1.4%** |
| *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; Centene Corp., Senior Notes | &nbsp;&nbsp; 3.375% | &nbsp;&nbsp; 2/15/30 | &nbsp;&nbsp; 450000<br>| &nbsp;&nbsp;&nbsp; 415351<br>|
| &nbsp;&nbsp;&nbsp; Molina Healthcare Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 151160<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; *566511* |
| *Life Sciences Tools & Services — 0.4%* | *Life Sciences Tools & Services — 0.4%* | *Life Sciences Tools & Services — 0.4%* | *Life Sciences Tools & Services — 0.4%* | *Life Sciences Tools & Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; IQVIA Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/15/26 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *200037*<br> <sup>(a)</sup><br>|
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **766548** |
| **Industrials — 3.8%** | **Industrials — 3.8%** | **Industrials — 3.8%** | **Industrials — 3.8%** | **Industrials — 3.8%** |
| *Aerospace & Defense — 0.7%* | *Aerospace & Defense — 0.7%* | *Aerospace & Defense — 0.7%* | *Aerospace & Defense — 0.7%* | *Aerospace & Defense — 0.7%* |
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *356328*<br> <sup>(a)</sup><br>|
| *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; AmeriTex HoldCo Intermediate LLC, Senior Secured Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 175000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *184146*<br> <sup>(a)</sup><br>|
| *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* |
| &nbsp;&nbsp;&nbsp; Synergy Infrastructure Holdings LLC, Secured Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *156846*<br> <sup>(a)</sup><br>|
| *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; 225000<br>| &nbsp;&nbsp;&nbsp; *226114*<br>|
| *Professional Services — 0.8%* | *Professional Services — 0.8%* | *Professional Services — 0.8%* | *Professional Services — 0.8%* | *Professional Services — 0.8%* |
| &nbsp;&nbsp;&nbsp; Concentrix Corp., Senior Notes | &nbsp;&nbsp; 6.600% | &nbsp;&nbsp; 8/2/28 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp; *415864*<br>|
| *Trading Companies & Distributors — 1.3%* | *Trading Companies & Distributors — 1.3%* | *Trading Companies & Distributors — 1.3%* | *Trading Companies & Distributors — 1.3%* | *Trading Companies & Distributors — 1.3%* |
| &nbsp;&nbsp;&nbsp; Aircastle Ltd., Junior Subordinated Notes (5.250% to 9/15/26 then 5 year Treasury <br> Constant Maturity Rate + 4.410%) | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp; 521000<br>| &nbsp;&nbsp;&nbsp; 522062<br> <sup>(a)(b)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Herc Holdings Inc., Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 201538<br> <sup>(a)</sup><br>|
| *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | &nbsp;&nbsp; *723600* |
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **2062898** |

---

See Notes to Schedule of Investments.

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BrandywineGLOBAL — Multi-Sector Opportunities Fund 2026 Quarterly Report

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Schedule of Investments (unaudited) (cont'd)

January 31, 2026

 **BrandywineGLOBAL — Multi-Sector Opportunities Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| **Information Technology — 0.6%** | **Information Technology — 0.6%** | **Information Technology — 0.6%** | **Information Technology — 0.6%** | **Information Technology — 0.6%** |
| *IT Services — 0.3%* | *IT Services — 0.3%* | *IT Services — 0.3%* | *IT Services — 0.3%* | *IT Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; Sabre GLBL Inc., Senior Secured Notes | &nbsp;&nbsp; 10.750% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; $175000<br>| &nbsp;&nbsp;&nbsp; $*142947*<br> <sup>(a)</sup><br>|
| *Software — 0.3%* | *Software — 0.3%* | *Software — 0.3%* | *Software — 0.3%* | *Software — 0.3%* |
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 5/15/33 | &nbsp;&nbsp; 175000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *178414*<br> <sup>(a)</sup><br>|
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **321361** |
| **Materials — 1.3%** | **Materials — 1.3%** | **Materials — 1.3%** | **Materials — 1.3%** | **Materials — 1.3%** |
| *Chemicals — 1.0%* | *Chemicals — 1.0%* | *Chemicals — 1.0%* | *Chemicals — 1.0%* | *Chemicals — 1.0%* |
| &nbsp;&nbsp;&nbsp; Cerdia Finanz GmbH, Senior Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 10/3/31 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 306666<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mativ Holdings Inc., Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 252102<br> <sup>(a)</sup><br>|
| *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | &nbsp;&nbsp; *558768* |
| *Paper & Forest Products — 0.3%* | *Paper & Forest Products — 0.3%* | *Paper & Forest Products — 0.3%* | *Paper & Forest Products — 0.3%* | *Paper & Forest Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; Magnera Corp., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 11/15/31 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *141887*<br> <sup>(a)</sup><br>|
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **700655** |
| **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** | **Real Estate — 0.6%** |
| *Diversified REITs — 0.6%* | *Diversified REITs — 0.6%* | *Diversified REITs — 0.6%* | *Diversified REITs — 0.6%* | *Diversified REITs — 0.6%* |
| &nbsp;&nbsp;&nbsp; Trust 2401, Senior Notes | &nbsp;&nbsp; 7.700% | &nbsp;&nbsp; 1/23/32 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **296588**<br> <sup>(a)</sup><br>|
| **Total Corporate Bonds & Notes (Cost — $16,273,858)** | **Total Corporate Bonds & Notes (Cost — $16,273,858)** | **Total Corporate Bonds & Notes (Cost — $16,273,858)** | **Total Corporate Bonds & Notes (Cost — $16,273,858)** | &nbsp;&nbsp; **15928705** |
| **Collateralized Mortgage Obligations**<sup>(e)</sup> **— 26.9%** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— 26.9%** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— 26.9%** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— 26.9%** | **Collateralized Mortgage Obligations**<sup>(e)</sup> **— 26.9%** |
| &nbsp;&nbsp;&nbsp; COLT Mortgage Loan Trust, 2025-10 A1 | &nbsp;&nbsp; 5.088% | &nbsp;&nbsp; 10/25/70 | &nbsp;&nbsp; 975512<br>| &nbsp;&nbsp;&nbsp; 981138<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3042 HZ | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 9/15/35 | &nbsp;&nbsp; 450546<br>| &nbsp;&nbsp;&nbsp; 466367<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4666 HA | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 3/15/53 | &nbsp;&nbsp; 238940<br>| &nbsp;&nbsp;&nbsp; 236396<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5473 FN (30 Day Average <br> SOFR + 1.250%) | &nbsp;&nbsp; 4.947% | &nbsp;&nbsp; 11/25/54 | &nbsp;&nbsp; 1846754<br>| &nbsp;&nbsp;&nbsp; 1863248<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2022-DNA4 M2 (30 Day Average SOFR + 5.250%) | &nbsp;&nbsp; 8.947% | &nbsp;&nbsp; 5/25/42 | &nbsp;&nbsp; 890000<br>| &nbsp;&nbsp;&nbsp; 938689<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2022-HQA2 M2 (30 Day Average SOFR + 6.000%) | &nbsp;&nbsp; 9.697% | &nbsp;&nbsp; 7/25/42 | &nbsp;&nbsp; 1273000<br>| &nbsp;&nbsp;&nbsp; 1363434<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2022-HQA3 M1B (30 Day Average SOFR + 3.550%) | &nbsp;&nbsp; 7.247% | &nbsp;&nbsp; 8/25/42 | &nbsp;&nbsp; 1320000<br>| &nbsp;&nbsp;&nbsp; 1373511<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2023-DNA2 M1B (30 Day Average SOFR + 3.250%) | &nbsp;&nbsp; 6.947% | &nbsp;&nbsp; 4/25/43 | &nbsp;&nbsp; 1590000<br>| &nbsp;&nbsp;&nbsp; 1658194<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2022-R02 2M2 (30 Day <br> Average SOFR + 3.000%) | &nbsp;&nbsp; 6.697% | &nbsp;&nbsp; 1/25/42 | &nbsp;&nbsp; 598290<br>| &nbsp;&nbsp;&nbsp; 608443<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2023-R03 2M2 (30 Day <br> Average SOFR + 3.900%) | &nbsp;&nbsp; 7.597% | &nbsp;&nbsp; 4/25/43 | &nbsp;&nbsp; 1180000<br>| &nbsp;&nbsp;&nbsp; 1244754<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2019-66 KZ | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 11/25/49 | &nbsp;&nbsp; 437897<br>| &nbsp;&nbsp;&nbsp; 384865<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) STRIPS, 445 F7 (30 Day Average <br> SOFR + 1.300%) | &nbsp;&nbsp; 4.997% | &nbsp;&nbsp; 3/25/55 | &nbsp;&nbsp; 1639016<br>| &nbsp;&nbsp;&nbsp; 1655871<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; TRTX Issuer Ltd., 2025-FL6 C (1 mo. Term SOFR + 2.396%) | &nbsp;&nbsp; 6.071% | &nbsp;&nbsp; 9/18/42 | &nbsp;&nbsp; 1190000<br>| &nbsp;&nbsp;&nbsp; 1178793<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Velocity Commercial Capital Loan Trust, 2025-5 M1 | &nbsp;&nbsp; 5.940% | &nbsp;&nbsp; 12/25/55 | &nbsp;&nbsp; 496723<br>| &nbsp;&nbsp;&nbsp; 500811<br> <sup>(a)(b)</sup><br>|
| **Total Collateralized Mortgage Obligations (Cost — $14,471,113)** | **Total Collateralized Mortgage Obligations (Cost — $14,471,113)** | **Total Collateralized Mortgage Obligations (Cost — $14,471,113)** | **Total Collateralized Mortgage Obligations (Cost — $14,471,113)** | &nbsp;&nbsp; **14454514** |
| **Mortgage-Backed Securities — 2.7%** | **Mortgage-Backed Securities — 2.7%** | **Mortgage-Backed Securities — 2.7%** | **Mortgage-Backed Securities — 2.7%** | **Mortgage-Backed Securities — 2.7%** |
| *GNMA — 2.7%* | *GNMA — 2.7%* | *GNMA — 2.7%* | *GNMA — 2.7%* | *GNMA — 2.7%* |
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II <br>(Cost — $1,425,498) | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 11/20/53- <br>12/20/54<br>| &nbsp;&nbsp; 1409462 | &nbsp;&nbsp;&nbsp; **1449633**<br>|

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — Multi-Sector Opportunities Fund 2026 Quarterly Report

------

 **BrandywineGLOBAL — Multi-Sector Opportunities Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| **Senior Loans — 0.4%** | **Senior Loans — 0.4%** | **Senior Loans — 0.4%** | **Senior Loans — 0.4%** | **Senior Loans — 0.4%** |
| **Information Technology — 0.4%** | **Information Technology — 0.4%** | **Information Technology — 0.4%** | **Information Technology — 0.4%** | **Information Technology — 0.4%** |
| *Communications Equipment — 0.4%* | *Communications Equipment — 0.4%* | *Communications Equipment — 0.4%* | *Communications Equipment — 0.4%* | *Communications Equipment — 0.4%* |
| &nbsp;&nbsp;&nbsp; Connect US Finco LLC, Amendment No. 4 Term Loan (1 mo. Term SOFR + 4.500%) <br> (Cost — $195,981) | 8.172% | &nbsp;&nbsp; 9/27/29 | &nbsp;&nbsp; $198987<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$198739**<br> <sup>(b)(f)(g)</sup><br>|
| **Total Investments before Short-Term Investments (Cost — $51,378,854)** | **Total Investments before Short-Term Investments (Cost — $51,378,854)** | **Total Investments before Short-Term Investments (Cost — $51,378,854)** | **Total Investments before Short-Term Investments (Cost — $51,378,854)** | &nbsp;&nbsp; **51140887** |
|  |  |  | 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%** |
| &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional U.S. Treasury Reserves, Premium Shares <br> (Cost — $197,088)  | &nbsp;&nbsp; 3.587% |  | &nbsp;&nbsp; 197088<br>| &nbsp;&nbsp;&nbsp;&nbsp; **197088**<br> <sup>(h)(i)</sup><br>|
| **Total Investments — 95.5% (Cost — $51,575,942)** | **Total Investments — 95.5% (Cost — $51,575,942)** | **Total Investments — 95.5% (Cost — $51,575,942)** | **Total Investments — 95.5% (Cost — $51,575,942)** | &nbsp;&nbsp; **51337975** |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 4.5% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 4.5% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 4.5% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 4.5% | &nbsp;&nbsp;&nbsp; 2440994 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$53778969** |

---

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

---

| | |
|:---|:---|
| †† | 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> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a <br> reference rate and spread in their description above.<br>|
| <sup>(c)</sup> | The coupon payment on this security is currently in default as of January 31, 2026. |
| <sup>(d)</sup> | Security has no maturity date. The date shown represents the next call date. |
| <sup>(e)</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>(f)</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>(g)</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>(h)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |
| <sup>(i)</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 January 31, 2026, the total market value of <br> investments in Affiliated Companies was $197,088 and the cost was $197,088 (Note 2).<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| CAS |  | Connecticut Avenue Securities |
| CLO |  | Collateralized Loan Obligation |
| DAC |  | Designated Activity Company |
| REMIC |  | Real Estate Mortgage Investment Conduit |
| SOFR |  | Secured Overnight Financing Rate |
| STRIPS |  | Separate Trading of Registered Interest and Principal Securities |

---

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.

------

BrandywineGLOBAL — Multi-Sector Opportunities Fund 2026 Quarterly Report

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Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

BrandywineGLOBAL — Multi-Sector Opportunities Fund (the "Fund") is a separate non-diversified investment series of Legg Mason Global Asset Management Trust (the "Trust"). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company.

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

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

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

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

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

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

------

BrandywineGLOBAL — Multi-Sector Opportunities Fund 2026 Quarterly Report

------

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; $19109296 | &nbsp;&nbsp; — | &nbsp;&nbsp; $19109296 |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 15928705 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15928705 |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 14454514 | &nbsp;&nbsp; — | &nbsp;&nbsp; 14454514 |
| &nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 1449633 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1449633 |
| &nbsp;&nbsp;&nbsp; Senior Loans | &nbsp;&nbsp; — | &nbsp;&nbsp; 198739 | &nbsp;&nbsp; — | &nbsp;&nbsp; 198739 |
| Total Long-Term Investments | &nbsp;&nbsp; — | &nbsp;&nbsp; 51140887 | &nbsp;&nbsp; — | &nbsp;&nbsp; 51140887 |
| Short-Term Investments† | &nbsp;&nbsp; $197088 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 197088 |
| **Total Investments** | &nbsp;&nbsp; **$197088** | &nbsp;&nbsp; **$51140887** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$51337975** |

---

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

† See Schedule of Investments for additional detailed categorizations.

**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 January 31, 2026. The following transactions were effected in such company for the period ended January 31, 2026. <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>October 31, <br>2025 | 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>October 31, <br>2025 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional U.S. <br> Treasury Reserves, <br> Premium Shares<br>| $3075192 | $11990156 | 11990156 | $14868260 | 14868260 |

---

&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>January 31, <br>2026<br>|
| Western Asset Premier <br> Institutional U.S. Treasury <br> Reserves, Premium Shares<br>|  | $25928 |  | $197088 |

---

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BrandywineGLOBAL — Multi-Sector Opportunities Fund 2026 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 Global Asset Management Trust

- **b. Investment Company Act file number:** 811-22338

- **c. CIK number of Registrant:** 0001474103

- **d. LEI of Registrant:** 549300BI5I8NVF50DG69

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 1-800-691-6960

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

- **a. Name of Series:** BrandywineGLOBAL - Multi-Sector Opportunities Fund

- **b. EDGAR series identifier (if any):** S000031479

- **c. LEI of Series:** 54930025I496PLRXXD64

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-01-30

**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:** $56502336.80

**Total Liabilities:** $2906438.05

**Net Assets:** $53595898.75

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 88.76933119 | **1-Year:** 2529.85073353 | **5-Year:** 4905.39410167 | **10-Year:** 602.78139917 | **30-Year:** 0.00000000

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

- **3-Month:** 63.34954038 | **1-Year:** 2913.12545309 | **5-Year:** 2981.87275739 | **10-Year:** 64.91269755 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000097870 | 0.38%                | 0.31%                | 0.29%                |
| Class ID C000097872 | 0.38%                | 0.31%                | 0.30%                |
| Class ID C000097873 | 0.35%                | 0.28%                | 0.27%                |
| Class ID C000097874 | 0.40%                | 0.33%                | 0.32%                |
| Class ID C000097875 | 0.50%                | 0.25%                | 0.33%                |
| Class ID C000116978 | 0.42%                | 0.25%                | 0.23%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $66283.38                | $-21076.75                                 |
| Month 2  | $47581.06                | $-135428.05                                |
| Month 3  | $43614.74                | $-71413.71                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| ADTALEM GLOBAL EDUCATION                                 | Adtalem Global Education Inc                                 | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |    200000 | PA      | $199691.45    | 0.37%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RFS Asset Securitization LLC                             | RFS Asset Securitization V LLC                               | CUSIP: 74970DAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    885000 | PA      | $895176.44    | 1.67%             | 2032-05-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2022-R09                 | CUSIP: 20753DAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1230000 | PA      | $1336425.75   | 2.49%             | 2042-09-25      | Floating      | 10.45%                | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                      | American Express Co                                          | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    820000 | PA      | $811979.50    | 1.52%             | N/A             | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                            | TransDigm Inc                                                | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    350000 | PA      | $356327.65    | 0.66%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VELOCITY COM CAP LLC                                     | Velocity Commercial Capital LLC                              | CUSIP: 92259RAE5<br>LEI: 549300TA4MQM8WN2XG31 | Long             | DBT              | CORP              | US        |     75000 | PA      | $76218.75     | 0.14%             | 2031-02-15      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Progr                           | Sofi Professional Loan Program 2018-C Trust                  | CUSIP: 78490DAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    215521 | PA      | $214524.40    | 0.40%             | 2048-01-25      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2022-HQA2                      | CUSIP: 35564KB65<br>LEI: 5493000IRLADKYZNON28 | Long             | ABS-MBS          | CORP              | US        |   1273000 | PA      | $1363433.92   | 2.54%             | 2042-07-25      | Floating      | 9.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2022-HQA1                      | CUSIP: 35564KTJ8<br>LEI: 5493000IRODEKU3J3Q16 | Long             | ABS-MBS          | CORP              | US        |   1010000 | PA      | $1056314.16   | 1.97%             | 2042-03-25      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| Veros Auto Receivables Trust                             | Veros Auto Receivables Trust 2026-1                          | CUSIP: 92511CAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $502326.15    | 0.94%             | 2031-07-15      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                        | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $76172.48     | 0.14%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                             | Drive Auto Receivables Trust 2025-2                          | CUSIP: 262103AC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    963327 | PA      | $964020.45    | 1.80%             | 2028-10-16      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                                          | Zayo Issuer LLC                                              | CUSIP: 98919WAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1380000 | PA      | $1418931.73   | 2.65%             | 2055-06-20      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2022-HQA3                      | CUSIP: 35564KE47<br>LEI: 5493000IRJ8RDHSNEL96 | Long             | ABS-MBS          | CORP              | US        |   1320000 | PA      | $1373510.69   | 2.56%             | 2042-08-25      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                      | Charles Schwab Corp/The                                      | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    410000 | PA      | $408554.59    | 0.76%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Point Securitization Trust                               | Point Securitization Trust 2025-2                            | CUSIP: 73071PAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    499897 | PA      | $501977.52    | 0.94%             | 2055-09-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                           | Ginnie Mae II Pool                                           | CUSIP: 36179YKT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    701627 | PA      | $723764.06    | 1.35%             | 2053-11-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans                                | College Ave Student Loans 2021-B LLC                         | CUSIP: 19425AAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    561262 | PA      | $527952.81    | 0.99%             | 2052-06-25      | Fixed         | 3.78%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                    | Wells Fargo & Co                                             | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    739000 | PA      | $738558.00    | 1.38%             | N/A             | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                             | Magnera Corp                                                 | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |    150000 | PA      | $141887.00    | 0.26%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Rec                           | American Credit Acceptance Receivables Trust 2025-4          | CUSIP: 024948AE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $503736.90    | 0.94%             | 2031-01-13      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC                                       | Mativ Holdings Inc                                           | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |    250000 | PA      | $252102.25    | 0.47%             | 2029-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Merchants Fleet Funding LLC                              | Merchants Fleet Funding LLC                                  | CUSIP: 588926AA3<br>LEI: 254900Z2OOQUA5IN2X83 | Long             | ABS-O            | CORP              | US        |    711407 | PA      | $714094.23    | 1.33%             | 2036-05-20      | Fixed         | 7.21%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                                  | TRTX 2025-FL6 Issuer Ltd                                     | CUSIP: 897764AG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1190000 | PA      | $1178793.06   | 2.20%             | 2042-09-18      | Floating      | 6.07%                 | No            |                  2 | On Loan: No      |
| Western Asset Premier Institutional US Treasury Reserves | Western Asset Premier Institutional US Treasury Reserves     | CUSIP: 52470G478<br>LEI: 549300FS1J68EF5THY28 | Long             | STIV             | RF                | US        |   2612793 | NS      | $2612793.44   | 4.87%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                                 | United Wholesale Mortgage LLC                                | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    300000 | PA      | $296566.32    | 0.55%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TRUST 2401                                               | Trust 2401                                                   | CUSIP: 89834MAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    270000 | PA      | $296588.25    | 0.55%             | 2032-01-23      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| GLS Auto Select Receivables Tr                           | GLS Auto Select Receivables Trust 2025-1                     | CUSIP: 36271FAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    632847 | PA      | $637614.27    | 1.19%             | 2030-04-15      | Fixed         | 4.71%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Lo                           | Velocity Commercial Capital Loan Trust 2025-5                | CUSIP: 92262KAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    496723 | PA      | $500810.76    | 0.93%             | 2055-12-25      | Variable      | 5.94%                 | No            |                  2 | On Loan: No      |
| Avant Credit Card Master Trust                           | Avant Credit Card Master Trust 2025-1                        | CUSIP: 05351KAR0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $498729.10    | 0.93%             | 2031-04-15      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| SATURN OIL & GAS INC                                     | Saturn Oil & Gas Inc                                         | CUSIP: 80412LAA5<br>LEI: 549300G6BWJ7K6PIIY73 | Long             | DBT              | CORP              | CA        |    292000 | PA      | $298941.72    | 0.56%             | 2029-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                          | Fair Isaac Corp                                              | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |    175000 | PA      | $178414.25    | 0.33%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance T                           | Regional Management Issuance Trust 2024-2                    | CUSIP: 75907AAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    201000 | PA      | $202890.53    | 0.38%             | 2033-12-15      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                             | SM Energy Co                                                 | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    107000 | PA      | $107484.28    | 0.20%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                            | Aircastle Ltd                                                | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    521000 | PA      | $522062.42    | 0.97%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                    | Molina Healthcare Inc                                        | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |    150000 | PA      | $151160.25    | 0.28%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TITAN INTERNATIONAL INC                                  | Titan International Inc                                      | CUSIP: 88830MAM4<br>LEI: 254900CXRGBE7C4B5A06 | Long             | DBT              | CORP              | US        |    225000 | PA      | $226114.20    | 0.42%             | 2028-04-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMED                                 | AmeriTex HoldCo Intermediate LLC                             | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    175000 | PA      | $184146.38    | 0.34%             | 2033-08-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                               | Fannie Mae REMICS                                            | CUSIP: 3136B6YT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    437897 | PA      | $384864.92    | 0.72%             | 2049-11-25      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                      | Affirm Master Trust Series 2025-3                            | CUSIP: 00833BAR9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $503165.45    | 0.94%             | 2034-10-16      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                | Block Inc                                                    | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    350000 | PA      | $357685.24    | 0.67%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Drive Auto Receivables Trust                             | Drive Auto Receivables Trust 2025-2                          | CUSIP: 262103AG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501550.80    | 0.94%             | 2032-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| WBI OPERATING LLC                                        | WBI Operating LLC                                            | CUSIP: 92944BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $151214.25    | 0.28%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Research-Driven Pagaya Motor A                           | Research-Driven Pagaya Motor Trust 2025-5                    | CUSIP: 76089KAE9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $503349.10    | 0.94%             | 2034-06-26      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| COTERRA ENERGY OP CO                                     | Coterra Energy Operating Co                                  | CUSIP: 171798AD3<br>LEI: 11KYOFXPU1C4CQL1CL44 | Long             | DBT              | CORP              | US        |    500000 | PA      | $491416.98    | 0.92%             | 2027-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2023-DNA2                      | CUSIP: 35564KT66<br>LEI: 5493000IRI80KQJUNK40 | Long             | ABS-MBS          | CORP              | US        |   1590000 | PA      | $1658193.83   | 3.09%             | 2043-04-25      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| COOPR Residential Mortgage Tru                           | COOPR Residential Mortgage Trust 2025-CES3                   | CUSIP: 216926AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    479183 | PA      | $480377.25    | 0.90%             | 2060-09-25      | Variable      | 4.84%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                              | Gap Inc/The                                                  | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    200000 | PA      | $185565.32    | 0.35%             | 2031-10-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL                                       | CONNECT FINCO SARL                                           | CUSIP: 000000000<br>LEI: 2594001KNYIQ456J2792 | Long             | LON              | CORP              | LU        |    198987 | PA      | $198738.61    | 0.37%             | 2029-09-28      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Upstart Securitization Trust                             | Upstart Securitization Trust 2025-3                          | CUSIP: 91684FAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $298294.35    | 0.56%             | 2035-09-20      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                     | Flutter Treasury DAC                                         | CUSIP: 344045AA7<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    400000 | PA      | $412690.00    | 0.77%             | 2029-04-29      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CI FINANCIAL CORP                                        | CI Financial Corp                                            | CUSIP: 125491AT7<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |    400000 | PA      | $426891.60    | 0.80%             | 2029-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                           | Pagaya Ai Debt Grantor Trust 2025-6                          | CUSIP: 69549BAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $499269.45    | 0.93%             | 2033-04-15      | Fixed         | 5.01%                 | No            |                  2 | On Loan: No      |
| Cogent IPv4 LLC                                          | Cogent Ipv4 LLC                                              | CUSIP: 19240JAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    930000 | PA      | $959492.72    | 1.79%             | 2055-04-25      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                                  | Dream Finders Homes Inc                                      | CUSIP: 26154DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    375000 | PA      | $386925.75    | 0.72%             | 2028-08-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                              | FIGRE Trust 2025-HE8                                         | CUSIP: 30191WAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    478773 | PA      | $483336.25    | 0.90%             | 2055-11-25      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| ENERFLEX INC                                             | Enerflex Inc                                                 | CUSIP: 29281WAA6<br>LEI: 549300SQCOV1LC1GBK07 | Long             | DBT              | CORP              | US        |    225000 | PA      | $232696.35    | 0.43%             | 2031-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Pagaya AI Debt Selection Trust                           | Pagaya AI Debt Grantor Trust 2024-10                         | CUSIP: 69544MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    157308 | PA      | $158065.08    | 0.29%             | 2032-06-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| SGUS LLC                                                 | SGUS LLC                                                     | CUSIP: 81880AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     32900 | PA      | $1069.25      | 0.00%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac REMICS                                           | CUSIP: 31396A4W1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    450546 | PA      | $466367.41    | 0.87%             | 2035-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                                 | Jefferson Capital Holdings LLC                               | CUSIP: 472481AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $210015.00    | 0.39%             | 2029-02-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                                 | Encore Capital Group Inc                                     | CUSIP: 292554AQ5<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |    200000 | PA      | $209943.36    | 0.39%             | 2029-04-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                             | Centene Corp                                                 | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |    450000 | PA      | $415350.68    | 0.77%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRU                           | SoFi Consumer Loan Program 2025-4 Trust                      | CUSIP: 83405UAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    815891 | PA      | $817631.84    | 1.53%             | 2035-08-25      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                         | COLT 2025-10 Mortgage Loan Trust                             | CUSIP: 12675XAA4<br>LEI: 213800STFGFKQEQSRE63 | Long             | ABS-MBS          | CORP              | US        |    975512 | PA      | $981138.51    | 1.83%             | 2070-10-25      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| UNLOCK HEA TRUST                                         | Unlock HEA Trust 2025-2                                      | CUSIP: 914917AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    491522 | PA      | $491602.90    | 0.92%             | 2041-11-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PROG HOLDINGS INC                                        | PROG Holdings Inc                                            | CUSIP: 74319RAA9<br>LEI: 549300DHYTLBOVRXIG52 | Long             | DBT              | CORP              | US        |    200000 | PA      | $198646.00    | 0.37%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                            | FirstCash Inc                                                | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201093.40    | 0.38%             | 2030-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                        | Herc Holdings Inc                                            | CUSIP: 42704LAH7<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    200000 | PA      | $201538.00    | 0.38%             | 2031-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2023-R03                 | CUSIP: 20753AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1180000 | PA      | $1244753.92   | 2.32%             | 2043-04-25      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| ATLANTICUS HOLDINGS CORP                                 | Atlanticus Holdings Corp                                     | CUSIP: 04914AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $286214.70    | 0.53%             | 2030-09-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                           | Upgrade Master Pass-Thru Trust Series 2025-ST8               | CUSIP: 91535UAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501341.20    | 0.94%             | 2033-12-15      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                      | Affirm Master Trust Series 2025-3                            | CUSIP: 00833BAP3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501573.50    | 0.94%             | 2034-10-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Credit Acceptance Auto Loan Tr                           | Credit Acceptance Auto Loan Trust 2025-2                     | CUSIP: 224940AE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $508974.10    | 0.95%             | 2036-03-17      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trus                           | Republic Finance Issuance Trust 2025-A                       | CUSIP: 76042FAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $301155.96    | 0.56%             | 2034-11-20      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Invesco CLO 2022-1, Ltd.                                 | Invesco CLO 2022-1 Ltd                                       | CUSIP: 460988AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    370000 | PA      | $370458.28    | 0.69%             | 2035-04-20      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac REMICS                                           | CUSIP: 3137BWMQ4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    238940 | PA      | $236396.23    | 0.44%             | 2053-03-15      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| DBR LAND HOLDINGS LLC                                    | DBR Land Holdings LLC                                        | CUSIP: 24024BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $153750.00    | 0.29%             | 2030-12-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| INSTALLED BUILDING PRODU                                 | Installed Building Products Inc                              | CUSIP: 45780RAB7<br>LEI: 549300I95Y9P9YM5FI86 | Long             | DBT              | CORP              | US        |    350000 | PA      | $352886.85    | 0.66%             | 2034-02-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                       | Viking Cruises Ltd                                           | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    300000 | PA      | $304278.50    | 0.57%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                            | Citigroup Inc                                                | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1590000 | PA      | $1588097.09   | 2.96%             | N/A             | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SYNERGY INFRASTRUCTURE H                                 | Synergy Infrastructure Holdings LLC                          | CUSIP: 87191JAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $156845.55    | 0.29%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                                         | Credit Acceptance Corp                                       | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $524560.50    | 0.98%             | 2028-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2022-R02                 | CUSIP: 20754BAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    598290 | PA      | $608443.60    | 1.14%             | 2042-01-25      | Floating      | 6.70%                 | No            |                  2 | On Loan: No      |
| Exeter Automobile Receivables                            | Exeter Automobile Receivables Trust 2025-5                   | CUSIP: 30166VAL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $503966.05    | 0.94%             | 2032-03-15      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| CI FINANCIAL CORP                                        | CI Financial Corp                                            | CUSIP: 125491AN0<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |    300000 | PA      | $272467.16    | 0.51%             | 2030-12-17      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRS LLC                                 | Saks Global Enterprises LLC                                  | CUSIP: 79380MAC9<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |     14100 | PA      | $42.30        | 0.00%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                           | Sabre GLBL Inc                                               | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    175000 | PA      | $142947.00    | 0.27%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| CarMax Select Receivables Trus                           | Carmax Select Receivables Trust 2025-B                       | CUSIP: 14320BAF6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    300000 | PA      | $303207.75    | 0.57%             | 2031-07-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| PROVIDENT FDG/PFG FIN                                    | Provident Funding Associates LP / PFG Finance Corp           | CUSIP: 74387UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $367382.75    | 0.69%             | 2029-09-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CONCENTRIX CORP                                          | Concentrix Corp                                              | CUSIP: 20602DAB7<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |    400000 | PA      | $415863.53    | 0.78%             | 2028-08-02      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH                                       | Cerdia Finanz GmbH                                           | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |    300000 | PA      | $306666.00    | 0.57%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Mission Lane Credit Card Maste                           | Mission Lane Credit Card Master Trust                        | CUSIP: 60510MCC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $500785.20    | 0.93%             | 2030-12-16      | Fixed         | 5.37%                 | No            |                  2 | On Loan: No      |
| BKV UPSTREAM MIDSTREAM L                                 | BKV Upstream Midstream LLC                                   | CUSIP: 05619CAA3<br>LEI: 254900LG75NBYHBBAU18 | Long             | DBT              | CORP              | US        |    175000 | PA      | $177326.63    | 0.33%             | 2030-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ENOVA INTERNATIONAL INC                                  | Enova International Inc                                      | CUSIP: 29357KAH6<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    450000 | PA      | $476761.05    | 0.89%             | 2028-12-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac REMICS                                           | CUSIP: 3137HHG62<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1846754 | PA      | $1863247.94   | 3.48%             | 2054-11-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Wingspire Equipment Finance LL                           | Wingspire Equipment Finance 2025-1 LLC                       | CUSIP: 97415CAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501791.15    | 0.94%             | 2033-09-20      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| Hertz Vehicle Financing LLC                              | Hertz Vehicle Financing LLC                                  | CUSIP: 42806MAQ2<br>LEI: 5493004IHDYOZ9K9WF47 | Long             | ABS-O            | CORP              | US        |    209000 | PA      | $204321.31    | 0.38%             | 2028-06-26      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Ondeck Asset Securitization Tr                           | OnDeck Asset Securitization Trust IV LLC                     | CUSIP: 67108SAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    150000 | PA      | $150652.65    | 0.28%             | 2031-10-17      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| ZIPRECRUITER INC                                         | ZipRecruiter Inc                                             | CUSIP: 98980BAA1<br>LEI: 549300HLOVNNFCY2IV80 | Long             | DBT              | CORP              | US        |    200000 | PA      | $138939.78    | 0.26%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fanniemae Strip                                          | Fannie Mae Interest Strip                                    | CUSIP: 31424VJ88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   1639016 | PA      | $1655870.68   | 3.09%             | 2055-03-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRS LLC                                 | Saks Global Enterprises LLC                                  | CUSIP: 79380MAD7<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |    376000 | PA      | $1880.00      | 0.00%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| IQVIA INC                                                | IQVIA Inc                                                    | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |    200000 | PA      | $200037.30    | 0.37%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OCCU Auto Receivables Trust                              | OCCU Auto Receivables Trust 2023-1                           | CUSIP: 674921AC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    244954 | PA      | $246232.69    | 0.46%             | 2028-06-15      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2022-DNA4                      | CUSIP: 35564KXA2<br>LEI: 5493000IS4CDPWRMWB65 | Long             | ABS-MBS          | CORP              | US        |    890000 | PA      | $938689.14    | 1.75%             | 2042-05-25      | Floating      | 8.95%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                                           | Ryan Specialty LLC                                           | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203431.76    | 0.38%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Achieve Mortgage                                         | ACHM Trust 2025-HE3                                          | CUSIP: 00449VAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    731233 | PA      | $735674.11    | 1.37%             | 2055-11-25      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| Continental Credit Card llc                              | Continental Finance Credit Card ABS Master Trust             | CUSIP: 66981PAV0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $501052.95    | 0.93%             | 2035-12-17      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                                      | Travel + Leisure Co                                          | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    375000 | PA      | $376618.50    | 0.70%             | 2026-07-31      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                           | Ginnie Mae II Pool                                           | CUSIP: 3618N5C72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    707835 | PA      | $725868.89    | 1.35%             | 2054-12-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-25

**Name of Applicant:** Legg Mason Global Asset Management Trust

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer