# EDGAR Filing Document

**Accession Number:** 0001474103
**File Stem:** 0001752724-23-069581
**Filing Date:** 2023-3
**Character Count:** 62221
**Document Hash:** 40745ec73f4e8d21d7fc6970907ebb25
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-069581.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-069581

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230328

**DATE AS OF CHANGE**: 20230328

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Legg Mason Global Asset Management Trust
- **CENTRAL INDEX KEY:** 0001474103
- **IRS NUMBER:** 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:** 23767810

**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 - Alternative Credit Fund (Series ID: S000043089)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000133376 | Class A      | LMAPX           |
| C000133377 | Class C      | LMAQX           |
| C000133378 | Class FI     | LMAOX           |
| C000133380 | Class I      | LMANX           |
| C000133381 | Class IS     | LMAMX           |

## Nport-Ex

**BRANDYWINEGLOBAL - ALTERNATIVE CREDIT FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** | **VALUE** |
| **COLLATERALIZED MORTGAGE OBLIGATIONS<sup>(a)</sup> - 68.3%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, 2013- GC17 C | 5.101% | 11/10/46 | 5320000 | $5169324 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, 2014- GC23 D | 4.481% | 7/10/47 | 1840000 | 1667766 <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2020-DNA4 B1<br> (1 mo. USD LIBOR + 6.000%) | 10.506% | 8/25/50 | 3654957 | 3910623 <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA3 M2<br> (30 Day Average SOFR + 2.100%) | 6.410% | 10/25/33 | 2300000 | 2289754 <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2018-HRP2 B1 (1 mo. USD LIBOR + 4.200%) | 8.706% | 2/25/47 | 2542000 | 2632456 <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2017-C01 1B1 (1 mo. USD LIBOR + 5.750%) | 10.256% | 7/25/29 | 2410000 | 2643380 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2017-C06 1B1 (1 mo. USD LIBOR + 4.150%) | 8.656% | 2/25/30 | 1752404 | 1807921 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2017-C07 2B1 (1 mo. USD LIBOR + 4.450%) | 8.956% | 5/25/30 | 3000000 | 3167207 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2018-C01 1B1 (1 mo. USD LIBOR + 3.550%) | 8.056% | 7/25/30 | 4700000 | 4828309 <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2018-R07 1B1 (1 mo. USD LIBOR + 4.350%) | 8.856% | 4/25/31 | 3600000 | 3712521 <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2019-R02 1B1 (1 mo. USD LIBOR + 4.150%) | 8.656% | 8/25/31 | 3800000 | 3882337 <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2019-R03 1B1 (1 mo. USD LIBOR + 4.100%) | 8.606% | 9/25/31 | 2000000 | 2045493 <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2019-R04 2B1 (1 mo. USD LIBOR + 5.250%) | 9.756% | 6/25/39 | 2816908 | 2929685 <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2019-R05 1B1 (1 mo. USD LIBOR + 4.100%) | 8.606% | 7/25/39 | 4385188 | 4453900 <sup>(b)(c)</sup> |

---

**See Notes to Schedule of Investments.** 

BrandywineGLOBAL - Alternative Credit Fund 2023 Quarterly Report 1

------

**BRANDYWINEGLOBAL - ALTERNATIVE CREDIT FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** |  | **VALUE** |  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS<sup>(a)</sup> - continued** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2019-R06 2B1 (1 mo. USD LIBOR + 3.750%) | 8.256% | 9/25/39 | 4820000 |  | $4830463 | <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2019-R07 1B1 (1 mo. USD LIBOR + 3.400%) | 7.906% | 10/25/39 | 4015000 |  | 3978541 | <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) - CAS, 2022-R01 1M2 (30 Day Average SOFR + 1.900%) | 6.210% | 12/25/41 | 4000000 |  | 3902660 | <sup>(b)(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; GC Pastor Hipotecario FTA, 5 A2<br> (3 mo. EURIBOR + 0.170%, 0.000% floor) | 2.233% | 6/21/46 | 1513301 | <sup>EUR</sup> | 1344893 | <sup>(b)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IM Pastor FTH, 3 B (3 mo. EURIBOR + 0.290%) | 2.371% | 3/22/43 | 8800000 | <sup>EUR</sup> | 5272741 | <sup>(b)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; JPMBB Commercial Mortgage Securities Trust, 2015-C28 C | 4.145% | 10/15/48 | 4080000 |  | 3750547 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, 2015-C28 D | 4.083% | 5/15/48 | 2605000 |  | 2231803 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, 2019-C51 D | 3.000% | 6/15/52 | 3689000 |  | 2548172 | <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, 2020-C57 D | 2.500% | 8/15/53 | 2738000 |  | 1735570 | <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br> (Cost - $76,818,272) |  |  |  |  | 74736066 |  |
| **MORTGAGE-BACKED SECURITIES - 14.9%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FHLMC - 6.9%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | 4.500% | 9/1/52 | 2080741 |  | 2057073 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | 5.000% | 9/1/52 | 1929608 |  | 1938760 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | 6.000% | 12/1/52 | 3415149 |  | 3512045 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total FHLMC* |  |  |  |  | *7507878* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FNMA - 8.0%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | 4.500% | 9/1/52 | 1838120 |  | 1817212 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | 5.500% | 12/1/52 | 3428700 |  | 3488041 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | 6.000% | 12/1/52 | 3413596 |  | 3510448 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total FNMA* |  |  |  |  | *8815701* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MORTGAGE-BACKED SECURITIES**<br> (Cost - $16,172,866) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MORTGAGE-BACKED SECURITIES**<br> (Cost - $16,172,866) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MORTGAGE-BACKED SECURITIES**<br> (Cost - $16,172,866) |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16323579 |  |

---

**See Notes to Schedule of Investments.** 

2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BrandywineGLOBAL - Alternative Credit Fund 2023 Quarterly Report

------

**BRANDYWINEGLOBAL - ALTERNATIVE CREDIT FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** |  | **VALUE** |
| **CORPORATE BONDS & NOTES - 6.6%** |  |  |  |  |  |
| **CONSUMER DISCRETIONARY - 1.7%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Hotels, Restaurants & Leisure - 1.7%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Affinity Gaming, Senior Secured Notes | 6.875% | 12/15/27 | 600000 |  | $538017 <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Secured Notes | 13.000% | 5/15/25 | 1190000 |  | 1263304 <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CONSUMER DISCRETIONARY** |  |  |  |  | 1801321 |
| **ENERGY - 1.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Oil, Gas & Consumable Fuels - 1.4%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., Senior Notes | 6.000% | 8/1/26 | 1605000 |  | 1554458 <sup>(c)</sup> |
| **FINANCIALS - 1.5%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Consumer Finance - 0.5%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Acceptance Corp., Senior Notes | 6.625% | 3/15/26 | 570000 |  | *522245* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Thrifts & Mortgage Finance - 1.0%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Freedom Mortgage Corp., Senior Notes | 7.625% | 5/1/26 | 1200000 |  | *1057076* <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL FINANCIALS** |  |  |  |  | 1579321 |
| **INDUSTRIALS - 2.0%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Airlines - 2.0%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Allegiant Travel Co., Senior Secured Notes | 7.250% | 8/15/27 | 2280000 |  | 2231966 <sup>(c)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CORPORATE BONDS & NOTES**<br> (Cost - $7,315,446) |  |  |  |  | 7167066 |
| **Sovereign Bonds - 4.8%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Brazil - 1.9%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil Notas do Tesouro Nacional Serie F, Notes | 10.000% | 1/1/33 | 12760000 | <sup>BRL</sup> | *2106078* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Colombia - 1.9%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colombian TES, Bonds | 7.250% | 10/26/50 | 15950000000 | <sup>COP</sup> | *2088599* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mexico - 1.0%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexican Bonos, Bonds | 8.000% | 7/31/53 | 21600000 | <sup>MXN</sup> | *1059004* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL SOVEREIGN BONDS**<br> (Cost - $5,353,608) |  |  |  |  | 5253681 |
|  |  |  | **SHARES** |  |  |
| **COMMON STOCKS - 0.1%** |  |  |  |  |  |
| **MATERIALS - 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Chemicals - 0.1%** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Danimer Scientific Inc. (Cost - $2,409,899) |  |  | 37903 |  | 86419 \* |
| **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $108,070,091) | **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $108,070,091) | **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $108,070,091) | **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $108,070,091) |  | 103566811 |

---

**See Notes to Schedule of Investments.** 

BrandywineGLOBAL - Alternative Credit Fund 2023 Quarterly Report 3

------

**BRANDYWINEGLOBAL - ALTERNATIVE CREDIT FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **SHARES** | **VALUE** |
| **SHORT-TERM INVESTMENTS - 3.0%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Asset Premier Institutional U.S. Treasury Reserves, Premium Shares<br> (Cost - $3,305,557) | 4.326% | 3305557 | $3305557 <sup>(e)(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 97.7%**<br> (Cost - $111,375,648) |  |  | 106872368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities - 2.3% |  |  | 2559793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NET ASSETS - 100.0%** |  |  | $109432161 |

---

† Face amount denominated in U.S. dollars, unless otherwise noted.

\* Non-income producing security.

(a) Collateralized mortgage obligations are secured by an underlying pool of mortgages or mortgage pass-through
certificates that are structured to direct 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 more interest rates, financial indices or
other financial indicators and may be subject to an upper and/or lower limit.

(b) Variable rate security. Interest rate disclosed is as of the most recent information available. Certain
variable rate securities are not based on a published 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 reference rate and spread in their description
above.

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

(d) Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to
securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees.

(e) Rate shown is one-day yield as of the end of the reporting period.

(f) 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 voting securities of an issuer, or a company which is under common ownership or control with the Fund. At January 31, 2023, the total market value of investments in Affiliated
Companies was $3,305,557 and the cost was $3,305,557 (Note 2).

<u>Abbreviation(s) used in this schedule:</u> 

---

| | |
|:---|:---|
| BRL | — Brazilian Real |
| CAS | — Connecticut Avenue Securities |
| COP | — Colombian Peso |
| EUR | — Euro |
| EURIBOR | — Euro Interbank Offered Rate |
| LIBOR | — London Interbank Offered Rate |
| MXN | — Mexican Peso |
| REMIC | — Real Estate Mortgage Investment Conduit |
| SOFR | — Secured Overnight Financing Rate |
| USD | — United States Dollar |

---

**See Notes to Schedule of Investments.** 

4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BrandywineGLOBAL - Alternative Credit Fund 2023 Quarterly Report

------

**BRANDYWINEGLOBAL - ALTERNATIVE CREDIT FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

At January 31, 2023, the Fund had the following open futures contracts:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number of<br>Contracts** | **Expiration<br>Date** | **Notional<br>Amount** | **Market Value** | **Unrealized<br>Depreciation** |
| **Contracts to Buy:** |  |  |  |  |  |
|  U.S. Treasury 10-Year Notes | 402 | 3/23 | $46257963 | $46035283 | $(222680) |
| **Contracts to Sell:** |  |  |  |  |  |
|  E-mini Russell 2000 Index | 62 | 3/23 | 5686793 | 6012140 | (325347) |
|  E-mini S&P 500 Index | 30 | 3/23 | 6042205 | 6135000 | (92795) |
|  Euro-Buxl | 18 | 3/23 | 2698247 | 2817893 | (119646) |
|  Japanese 10-Year Bonds | 11 | 3/23 | 12231788 | 12385510 | (153722) |
|  |  |  |  |  | (691510) |
| **Net unrealized depreciation on open futures contracts** | **Net unrealized depreciation on open futures contracts** | **Net unrealized depreciation on open futures contracts** |  |  | $(914190) |

---

<u>Abbreviation(s) used in this table:</u> 

Buxl — Ultra Long German Bond

At January 31, 2023, the Fund had the following open forward foreign currency contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency**<br> **Purchased** | **Currency**<br> **Purchased** | **Currency**<br> **Sold** | **Currency**<br> **Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  USD | 7148872 | EUR | 7120000 | Barclays Bank PLC | 2/3/23 | $(593317) |
|  EUR | 3590000 | USD | 3754975 | JPMorgan Chase & Co. | 2/3/23 | 148740 |
|  EUR | 3730000 | USD | 4053764 | JPMorgan Chase & Co. | 2/3/23 | 2186 |
|  USD | 2195007 | EUR | 2030000 | JPMorgan Chase & Co. | 2/3/23 | (12387) |
|  EUR | 1830000 | USD | 1921863 | Morgan Stanley & Co. Inc. | 2/3/23 | 68054 |
|  GBP | 2370000 | USD | 2865674 | Goldman Sachs Group Inc. | 3/3/23 | 58178 |
|  USD | 5572812 | GBP | 4630000 | JPMorgan Chase & Co. | 3/3/23 | (139185) |
|  USD | 2207642 | AUD | 3210000 | Citibank N.A. | 3/7/23 | (61303) |
|  AUD | 3210000 | USD | 2183805 | JPMorgan Chase & Co. | 3/7/23 | 85140 |
|  KRW | 2850000000 | USD | 2192055 | Citibank N.A. | 3/8/23 | 124736 |
|  USD | 2242505 | KRW | 2850000000 | Citibank N.A. | 3/8/23 | (74285) |
|  THB | 76600000 | USD | 2220290 | HSBC Securities Inc. | 3/10/23 | 109386 |
|  USD | 2236496 | THB | 76600000 | HSBC Securities Inc. | 3/10/23 | (93179) |
|  USD | 5712084 | JPY | 750000000 | Barclays Bank PLC | 3/14/23 | (83539) |
|  JPY | 560000000 | USD | 4397793 | Goldman Sachs Group Inc. | 3/14/23 | (70395) |
|  JPY | 560000000 | USD | 4286994 | JPMorgan Chase & Co. | 3/14/23 | 40404 |
|  JPY | 730000000 | USD | 5409892 | JPMorgan Chase & Co. | 3/14/23 | 231181 |
|  USD | 5450976 | JPY | 730000000 | JPMorgan Chase & Co. | 3/14/23 | (190097) |
|  JPY | 750000000 | USD | 5539822 | UBS Securities LLC | 3/14/23 | 255800 |
|  NZD | 3370000 | USD | 2154569 | Goldman Sachs Group Inc. | 3/20/23 | 24603 |
|  IDR | 32010000000 | USD | 2144149 | JPMorgan Chase & Co. | 4/18/23 | (11628) |
|  IDR | 33220000000 | USD | 2189487 | JPMorgan Chase & Co. | 4/18/23 | 23645 |
|  USD | 2205843 | IDR | 33220000000 | JPMorgan Chase & Co. | 4/18/23 | (7289) |

---

**See Notes to Schedule of Investments.** 

BrandywineGLOBAL - Alternative Credit Fund 2023 Quarterly Report 5

------

**BRANDYWINEGLOBAL - ALTERNATIVE CREDIT FUND** 

---

| | |
|:---|:---|
| **Schedule of investments (unaudited) (cont'd)** | **January 31, 2023** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Currency**<br> **Purchased** | **Currency**<br> **Purchased** | **Currency**<br> **Sold** | **Currency**<br> **Sold** | **Counterparty** | **Settlement<br>Date** | **Unrealized<br>Appreciation<br>(Depreciation)** |
|  CAD | 2880000 | USD | 2139101 | Citibank N.A. | 4/25/23 | $26945 |
|  USD | 4077077 | EUR | 3730000 | JPMorgan Chase & Co. | 5/5/23 | (1226) |
|  Total |  |  |  |  |  | $(138832) |

---

<u>Abbreviation(s) used in this table:</u> 

---

| | |
|:---|:---|
| AUD | — Australian Dollar |
| CAD | — Canadian Dollar |
| EUR | — Euro |
| GBP | — British Pound |
| IDR | — Indonesian Rupiah |
| JPY | — Japanese Yen |
| KRW | — South Korean Won |
| NZD | — New Zealand Dollar |
| THB | — Thai Baht |
| USD | — United States Dollar |

---

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.** 

6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BrandywineGLOBAL - Alternative Credit Fund 2023 Quarterly Report

------

**Notes to Schedule of Investments (unaudited)** 

**1. Organization and significant accounting policies** 

BrandywineGLOBAL — Alternative Credit 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. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund's Board of Trustees.

Pursuant to policies adopted by the Board of Trustees, 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 of Trustees. 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.

<br>7<br>

------

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

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 of Trustees, 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 of Trustees 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.

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 – unadjusted quoted prices in active markets for identical investments

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

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

<br>8<br>

------

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| **DESCRIPTION** | **QUOTED PRICES<br>(LEVEL 1)** | **OTHER SIGNIFICANT<br>OBSERVABLE INPUTS<br>(LEVEL 2)** | **SIGNIFICANT<br>UNOBSERVABLE<br>INPUTS**<br>**(LEVEL 3)** | **TOTAL** |
|  Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations |  | $74736066 |  | $74736066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-Backed Securities |  | 16323579 |  | 16323579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes |  | 7167066 |  | 7167066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Sovereign Bonds |  | 5253681 |  | 5253681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | $86419 |  |  | 86419 |
|  Total Long-Term Investments | 86419 | 103480392 |  | 103566811 |
|  Short-Term Investments† | 3305557 |  |  | 3305557 |
|  Total Investments | $3391976 | $103480392 |  | $106872368 |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† |  | $1198998 |  | $1198998 |
|  Total | $3391976 | $104679390 |  | $108071366 |
| **LIABILITIES** | **LIABILITIES** | **LIABILITIES** | **LIABILITIES** | **LIABILITIES** |
| **DESCRIPTION** | **QUOTED PRICES<br>(LEVEL 1)** | **OTHER SIGNIFICANT<br>OBSERVABLE INPUTS<br>(LEVEL 2)** | **SIGNIFICANT<br>UNOBSERVABLE<br>INPUTS**<br>**(LEVEL 3)** | **TOTAL** |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts†† | $914190 |  |  | $914190 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† |  | $1337830 |  | 1337830 |
|  Total | $914190 | $1337830 |  | $2252020 |

---

† See Schedule of Investments for additional detailed categorizations.

†† Reflects the unrealized appreciation (depreciation) of the instruments.

<br>9<br>

------

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

**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, 2023. The following transactions were effected in such company for the period ended January 31, 2023.

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Affiliate<br>Value at<br>October 31,**<br>**2022** | **Purchased** | **Purchased** | **Sold** | **Sold** |
|  | **Affiliate<br>Value at<br>October 31,**<br>**2022** | **Cost** | **Shares** | **Proceeds** | **Shares** |
| Western Asset Premier Institutional U.S. Treasury Reserves, Premium Shares | $3761831 | $26539216 | 26539216 | $26995490 | 26995490 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| **(cont'd)** | **Realized<br>Gain<br>(Loss)** | **Dividend<br>Income** | **Net Increase<br>(Decrease) in<br>Unrealized<br>Appreciation<br>(Depreciation)** | **Affiliate<br>Value at<br>January 31,<br>2023** |
| Western Asset Premier Institutional U.S. Treasury Reserves, Premium Shares | – $| 29866 | – $| 3305557 |

---

<br>10<br>

## 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:** 620 Eighth Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

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

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

- **a. Name of Series:** BrandywineGLOBAL - Alternative Credit Fund

- **b. EDGAR series identifier (if any):** S000043089

- **c. LEI of Series:** 5493003A7V5IXGWH8L61

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**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:** $111863040.71

**Total Liabilities:** $2398814.96

**Net Assets:** $109464225.75

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 146.13424336 | **1-Year:** 917.56589285 | **5-Year:** 10363.94878661 | **10-Year:** 1016.92680695 | **30-Year:** 0.00000000

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

- **3-Month:** 42.43242632 | **1-Year:** 7567.04867289 | **5-Year:** 14952.58822165 | **10-Year:** 880.75157171 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000133381 | 0.10%                | 2.60%                | -0.31%               |
| Class ID C000133380 | 0.00%                | 2.59%                | -0.31%               |
| Class ID C000133377 | 0.00%                | 2.47%                | -0.41%               |
| Class ID C000133376 | 0.11%                | 2.49%                | -0.31%               |
| Class ID C000133378 | 0.11%                | 2.52%                | -0.41%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-226461.80              | $1280560.41                                |
| Month 2  | $50423.67                | $366267.83                                 |
| Month 3  | $-97785.40               | $1389449.09                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| EUREX CLEARING AKTIENGESELLSCHAFT                        | Eurex 30 Year Euro BUXL                                            | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |         -18 | NC      | $-119645.31   | -0.11%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | USD/NZD FORWARD                                                    | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |           1 | NC      | $24602.84     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | USD/IDR FORWARD                                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-7288.94     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Pastor IM FTH/FTA                                        | IM Pastor 3 FTH                                                    | CUSIP: 000000000<br>LEI: 95980020140005263203 | Long             | ABS-MBS          | CORP              | ES        |     8800000 | PA      | $5272740.99   | 4.82%             | 2043-03-22      | Floating      | 2.37%                 | No            |                  2 | On Loan: No      |
| Danimer Scientific Inc                                   | Danimer Scientific Inc                                             | CUSIP: 236272100<br>LEI: 549300L6Q02MAX72BH35 | Long             | EC               | CORP              | US        |       37903 | NS      | $86418.84     | 0.08%             |  |  |  | No            |                  1 | 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        |     3424457 | NS      | $3424456.69   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2020-DNA4                            | CUSIP: 35565XBD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3654957 | PA      | $3910623.14   | 3.57%             | 2050-08-25      | Floating      | 10.51%                | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | EUR/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-1226.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac Pool                                                   | CUSIP: 3132DWFT5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     3415149 | PA      | $3512044.82   | 3.21%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | CAD/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |           1 | NC      | $26945.00     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                           | Wells Fargo Commercial Mortgage Trust 2015-C28                     | CUSIP: 94989JBH8<br>LEI: 549300S7ENI2U7O0XH56 | Long             | ABS-MBS          | CORP              | US        |     2605000 | PA      | $2231803.27   | 2.04%             | 2048-05-15      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | JPY/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |           1 | NC      | $271584.83    | 0.25%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Fannie Mae Connecticut Avenue Securities                           | CUSIP: 30711XWW0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     3000000 | PA      | $3167206.50   | 2.89%             | 2030-05-25      | Floating      | 8.96%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                                         | Credit Acceptance Corp                                             | CUSIP: 225310AM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      570000 | PA      | $522245.40    | 0.48%             | 2026-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                           | Wells Fargo Commercial Mortgage Trust 2020-C57                     | CUSIP: 95002XAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2738000 | PA      | $1735570.01   | 1.59%             | 2053-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | JPY/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |           1 | NC      | $255800.11    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2019-R06                       | CUSIP: 20754JAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4820000 | PA      | $4830463.26   | 4.41%             | 2039-09-25      | Floating      | 8.26%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | KRW/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |           1 | NC      | $124735.88    | 0.11%             |  |  |  | No            |                  2 | On Loan: No      |
| AFFINITY GAMING                                          | Affinity Gaming                                                    | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      600000 | PA      | $538017.00    | 0.49%             | 2027-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Fannie Mae Connecticut Avenue Securities                           | CUSIP: 30711XYW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     4700000 | PA      | $4828309.06   | 4.41%             | 2030-07-25      | Floating      | 8.06%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                               | Fannie Mae Pool                                                    | CUSIP: 31418EM23<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     3413596 | PA      | $3510448.27   | 3.21%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.                                    | EUR/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-593316.54   | -0.54%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | EUR/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-12386.60    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2019-R02                       | CUSIP: 20753KAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3800000 | PA      | $3882337.26   | 3.55%             | 2031-08-25      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac Pool                                                   | CUSIP: 3132DWES8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     2080741 | PA      | $2057073.37   | 1.88%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                               | Fannie Mae Pool                                                    | CUSIP: 31418ELY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     3428700 | PA      | $3488041.03   | 3.19%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                            | Citigroup Commercial Mortgage Trust 2013-GC17                      | CUSIP: 17321RAL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     5320000 | PA      | $5169324.30   | 4.72%             | 2046-11-10      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2019-R05                       | CUSIP: 20754HAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4385188 | PA      | $4453899.93   | 4.07%             | 2039-07-25      | Floating      | 8.61%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | AUD/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |           1 | NC      | $85140.63     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                                    | Freedom Mortgage Corp                                              | CUSIP: 35640YAF4<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |     1200000 | PA      | $1057075.45   | 0.97%             | 2026-05-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2021-DNA3                            | CUSIP: 35564KEL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2300000 | PA      | $2289754.42   | 2.09%             | 2033-10-25      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2022-R01                       | CUSIP: 20754LAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4000000 | PA      | $3902660.00   | 3.57%             | 2041-12-25      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | USD/EUR FORWARD                                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |           1 | NC      | $150926.49    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | USD/IDR FORWARD                                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |           1 | NC      | $23644.67     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.                                    | USD/JPY FORWARD                                                    | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-83539.00    | -0.08%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | USD/THB FORWARD                                                    | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $109385.84    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | THB/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-93179.35    | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                  | Mexican Bonos                                                      | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    21600000 | PA      | $1059003.60   | 0.97%             | 2053-07-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | JPY/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-70394.76    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                         | CME E-mini Russell 2000 Index                                      | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |         -62 | NC      | $-325347.30   | -0.30%            |  |  |  | No            |                  1 | On Loan: No      |
| TITULOS DE TESORERIA                                     | Colombian TES                                                      | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 15950000000 | PA      | $2088598.53   | 1.91%             | 2050-10-26      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| JPMBB Commercial Mortgage Secu                           | JPMBB Commercial Mortgage Securities Trust 2015-C28                | CUSIP: 46644FAK7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4080000 | PA      | $3750546.53   | 3.43%             | 2048-10-15      | Variable      | 4.14%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | STACR Trust 2018-HRP2                                              | CUSIP: 35564ACB5<br>LEI: 549300YG8OJES76WL398 | Long             | ABS-MBS          | CORP              | US        |     2542000 | PA      | $2632456.05   | 2.40%             | 2047-02-25      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                         | CME E-Mini Standard & Poor's 500 Index                             | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DE               | CORP              | US        |         -30 | NC      | $-92795.26    | -0.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2019-R04                       | CUSIP: 20753TAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2816908 | PA      | $2929684.75   | 2.68%             | 2039-06-25      | Floating      | 9.76%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2019-R07                       | CUSIP: 20753WAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     4015000 | PA      | $3978541.39   | 3.63%             | 2039-10-25      | Floating      | 7.91%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                            | Citigroup Commercial Mortgage Trust 2014-GC23                      | CUSIP: 17322VAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     1840000 | PA      | $1667766.06   | 1.52%             | 2047-07-10      | Variable      | 4.48%                 | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                                       | TSE Japanese 10 Year Bond                                          | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              | CORP              | JP        |         -11 | NC      | $-153722.16   | -0.14%            |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | EUR/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |           1 | NC      | $68053.81     | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgag                           | Wells Fargo Commercial Mortgage Trust 2019-C51                     | CUSIP: 95001VAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3689000 | PA      | $2548172.32   | 2.33%             | 2052-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Fannie Mae Connecticut Avenue Securities                           | CUSIP: 30711XQW7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     1752404 | PA      | $1807920.86   | 1.65%             | 2030-02-25      | Floating      | 8.66%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | USD/GBP FORWARD                                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-139185.45   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                                 | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp | CUSIP: 559665AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     1605000 | PA      | $1554458.55   | 1.42%             | 2026-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.              | CBOT 10 Year US Treasury Note                                      | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |         402 | NC      | $-222680.26   | -0.20%            |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | USD/KRW FORWARD                                                    | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-74285.33    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2019-R03                       | CUSIP: 20753MAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     2000000 | PA      | $2045492.80   | 1.87%             | 2031-09-25      | Floating      | 8.61%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | USD/AUD FORWARD                                                    | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-61303.17    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac Pool                                                   | CUSIP: 3132DWET6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     1929608 | PA      | $1938759.66   | 1.77%             | 2052-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                 | Brazil Notas do Tesouro Nacional Serie F                           | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    12760000 | PA      | $2106078.37   | 1.92%             | 2033-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Fannie Mae                                               | Fannie Mae Pool                                                    | CUSIP: 31418EHK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     1838120 | PA      | $1817211.76   | 1.66%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Pastor GC Hipotecario                                    | GC Pastor Hipotecario 5 FTA                                        | CUSIP: 000000000<br>LEI: 549300BBHS237631DL85 | Long             | ABS-MBS          | CORP              | ES        |     1513301 | PA      | $1344892.60   | 1.23%             | 2046-06-21      | Floating      | 2.23%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | JPY/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-190096.99   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2018-R07                       | CUSIP: 20753QAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     3600000 | PA      | $3712521.24   | 3.39%             | 2031-04-25      | Floating      | 8.86%                 | No            |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO                                      | Allegiant Travel Co                                                | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |     2280000 | PA      | $2231965.69   | 2.04%             | 2027-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Fannie Mae Connecticut Avenue Securities                           | CUSIP: 30711XEQ3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | CORP              | US        |     2410000 | PA      | $2643379.58   | 2.41%             | 2029-07-25      | Floating      | 10.26%                | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                       | Viking Cruises Ltd                                                 | CUSIP: 92676XAE7<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |     1190000 | PA      | $1263304.00   | 1.15%             | 2025-05-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | GBP/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |           1 | NC      | $58177.94     | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | IDR/USD FORWARD                                                    | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |           1 | NC      | $-11627.52    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-22

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

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer