# EDGAR Filing Document

**Accession Number:** 0001474103
**File Stem:** 0001752724-23-069661
**Filing Date:** 2023-3
**Character Count:** 73504
**Document Hash:** 9276d962dc087086f0e8ab8ec48475c7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-069661.hdr.sgml**: 20230328

**ACCESSION NUMBER**: 0001752724-23-069661

**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:** 23767882

**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 - Global Unconstrained Bond 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

**BRANDYWINEGLOBAL — GLOBAL UNCONSTRAINED BOND FUND** 

---

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

---

(Percentages shown based on Fund net assets)

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **SECURITY** | **RATE** | **MATURITY<br>DATE** | **FACE<br>AMOUNT†** |  | **VALUE** |  |
| **SOVEREIGN BONDS - 32.1%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Brazil - 9.6%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil Notas do Tesouro Nacional Serie F, Notes | 10.000% | 1/1/31 | 166750000 | <sup>BRL</sup> | $28189855 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Brazil Notas do Tesouro Nacional Serie F, Notes | 10.000% | 1/1/33 | 76110000 | <sup>BRL</sup> | 12562196 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Brazil* |  |  |  |  | *40752051* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Colombia - 6.2%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colombian TES, Bonds | 6.000% | 4/28/28 | 29540000000 | <sup>COP</sup> | 4911629 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colombian TES, Bonds | 9.250% | 5/28/42 | 48960000000 | <sup>COP</sup> | 8228353 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Colombian TES, Bonds | 7.250% | 10/26/50 | 100210000000 | <sup>COP</sup> | 13122160 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Colombia* |  |  |  |  | *26262142* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Mexico - 5.5%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexican Bonos, Bonds | 8.000% | 11/7/47 | 136300000 | <sup>MXN</sup> | 6675627 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mexican Bonos, Bonds | 8.000% | 7/31/53 | 344600000 | <sup>MXN</sup> | 16895030 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Mexico* |  |  |  |  | *23570657* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Peru - 3.4%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Peru Government Bond, Senior Notes | 6.150% | 8/12/32 | 62980000 | <sup>PEN</sup> | *14340730* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Poland - 4.3%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Republic of Poland Government Bond | 1.750% | 4/25/32 | 112510000 | <sup>PLN</sup> | *18381543* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **South Africa - 3.1%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Republic of South Africa Government Bond, Senior Notes | 8.750% | 2/28/48 | 293630000 | <sup>ZAR</sup> | *13366915* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL SOVEREIGN BONDS**<br> (Cost - $146,861,990) |  |  |  |  | 136674038 |  |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS - 24.8%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **U.S. Government Obligations - 24.8%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Notes (3 mo. U.S. Treasury Money Market Yield + 0.037%) | 4.686% | 7/31/24 | 7750000 |  | 7747850 | <sup>(a)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Notes | 2.750% | 8/15/32 | 104310000 |  | 98157339 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL U.S. GOVERNMENT & AGENCY<br>OBLIGATIONS**<br> (Cost - $102,651,199) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL U.S. GOVERNMENT & AGENCY<br>OBLIGATIONS**<br> (Cost - $102,651,199) |  |  |  | 105905189 |  |
| **MORTGAGE-BACKED SECURITIES - 13.8%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FHLMC - 7.1%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | 5.000% | 8/1/52-11/1/52 | 7969133 |  | 8008880 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | 4.500% | 9/1/52-10/1/52 | 10124888 |  | 10009719 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | 5.500% | 12/1/52 | 12071845 |  | 12280776 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total FHLMC* |  |  |  |  | *30299375* | |

---

**See Notes to Schedule of Investments.** 

BrandywineGLOBAL — Global Unconstrained Bond Fund 2023 Quarterly Report 1

------

**BRANDYWINEGLOBAL — GLOBAL UNCONSTRAINED BOND 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** |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **FNMA - 6.7%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | 4.500% | 9/1/52 | 8665423 |  | $8566855 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | 5.000% | 10/1/52-12/1/52 | 11645111 |  | 11700343 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | 5.500% | 12/1/52 | 8023355 |  | 8162217 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total FNMA* |  |  |  |  | *28429415* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL MORTGAGE-BACKED SECURITIES**<br> (Cost - $57,190,097) |  |  |  |  | 58728790 |  |
| **CORPORATE BONDS & NOTES - 8.9%** |  |  |  |  |  |  |
| **FINANCIALS - 8.4%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Banks - 2.2%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia, Senior Notes (SOFR + 0.740%) | 5.047% | 3/14/25 | 9430000 |  | *9461248* | <sup>(a)(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Capital Markets - 6.2%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Goldman Sachs Group Inc., Senior Notes | 5.700% | 11/1/24 | 8820000 |  | 8952442 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jackson National Life Global Funding, Secured Notes (SOFR + 1.150%) | 5.474% | 6/28/24 | 8290000 |  | 8327757 | <sup>(a)(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Macquarie Group Ltd., Senior Notes | 6.207% | 11/22/24 | 8900000 |  | 9076734 | <sup>(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Total Capital Markets* |  |  |  |  | *26356933* | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL FINANCIALS** |  |  |  |  | 35818181 |  |
| **INFORMATION TECHNOLOGY - 0.5%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Electronic Equipment, Instruments & Components - 0.5%** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Jabil Inc., Senior Notes | 3.000% | 1/15/31 | 2300000 |  | 1975319 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL CORPORATE BONDS & NOTES**<br> (Cost - $37,722,615) |  |  |  |  | 37793500 |  |
| **COLLATERALIZED MORTGAGE OBLIGATIONS<sup>(c)</sup> - 6.8%** | **COLLATERALIZED MORTGAGE OBLIGATIONS<sup>(c)</sup> - 6.8%** | **COLLATERALIZED MORTGAGE OBLIGATIONS<sup>(c)</sup> - 6.8%** | **COLLATERALIZED MORTGAGE OBLIGATIONS<sup>(c)</sup> - 6.8%** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust, 2019-6 A1 | 2.620% | 11/25/59 | 1002178 |  | 968423 | <sup>(a)(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commercial Mortgage Trust, 2017-PANW D | 3.935% | 10/10/29 | 4900000 |  | 4500885 | <sup>(a)(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K087 A2 | 3.771% | 12/25/28 | 2850000 |  | 2815451 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; IM Pastor FTA, 4 A (3 mo. EURIBOR + 0.140%) | 2.221% | 3/22/44 | 2164079 | <sup>EUR</sup> | 2011597 | <sup>(a)(d)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Morgan Stanley Bank of America Merrill Lynch Trust, 2017-C34 A3 | 3.276% | 11/15/52 | 8755000 |  | 8239821 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Residential Mortgage Loan Trust, 2019-3 A1 | 2.633% | 9/25/59 | 1075961 |  | 1055856 | <sup>(a)(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust, 2018-3 A2 | 3.875% | 5/25/58 | 2545000 |  | 2355824 | <sup>(a)(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust, 2018-5 A1 | 3.250% | 7/25/58 | 7551496 |  | 7149045 | <sup>(a)(b)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS**<br> (Cost - $32,332,943) |  |  |  |  | 29096902 |  |

---

**See Notes to Schedule of Investments.** 

2 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BrandywineGLOBAL — Global Unconstrained Bond Fund 2023 Quarterly Report

------

**BRANDYWINEGLOBAL — GLOBAL UNCONSTRAINED BOND 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** |
| **CONVERTIBLE BONDS & NOTES - 0.4%** |  |  |  |  |
| **COMMUNICATION SERVICES - 0.4%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Media - 0.4%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; DISH Network Corp., Senior Notes (Cost - $2,834,144) | 3.375% | 8/15/26 | 2730000 | $1793043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS**<br> (Cost - $379,592,988) |  |  |  | 369991462 |
|  |  |  | **SHARES** |  |
| **SHORT-TERM INVESTMENTS - 6.1%** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Western Asset Premier Institutional U.S. Treasury Reserves, Premium Shares<br>(Cost - $25,764,009) | 4.326% |  | 25764009 | 25764009 <sup>(e)(f)</sup> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL INVESTMENTS - 92.9%**<br> (Cost - $405,356,997) |  |  |  | 395755471 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities - 7.1% |  |  |  | 30342259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **TOTAL NET ASSETS - 100.0%** |  |  |  | $426097730 |

---

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

(a) 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.

(b) 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.

(c) 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.

(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 $25,764,009 and the cost was $25,764,009 (Note 2).

**See Notes to Schedule of Investments.** 

BrandywineGLOBAL — Global Unconstrained Bond Fund 2023 Quarterly Report 3

------

**BRANDYWINEGLOBAL — GLOBAL UNCONSTRAINED BOND FUND** 

---

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

---

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

---

| | |
|:---|:---|
| BRL | — Brazilian Real |
| COP | — Colombian Peso |
| EUR | — Euro |
| EURIBOR | — Euro Interbank Offered Rate |
| MXN | — Mexican Peso |
| PEN | — Peruvian Nuevo Sol |
| PLN | — Polish Zloty |
| SOFR | — Secured Overnight Financing Rate |
| ZAR | — South African Rand |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Number of<br>Contracts** | **Expiration<br>Date** | **Notional<br>Amount** | **Market<br>Value** | **Unrealized<br>Appreciation<br>(Depreciation)** |
| **Contracts to Buy:** |  |  |  |  |  |
|  U.S. Treasury 10-Year Notes | 707 | 3/23 | $81946822 | $80962551 | $(984271) |
|  **Contracts to Sell:** |  |  |  |  |  |
|  Japanese 10-Year Bonds | 162 | 3/23 | 184351978 | 182404794 | 1947184 |
|  United Kingdom Long Gilt Bonds | 659 | 3/23 | 84639544 | 84908956 | (269412) |
|  |  |  |  |  | 1677772 |
| **Net unrealized appreciation on open futures contracts** |  |  |  |  | $693501 |

---

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 | 20926324 | EUR | 19390000 | Barclays Bank PLC | 2/3/23 | $(158092) |
| USD | 23956755 | EUR | 23860000 | Barclays Bank PLC | 2/3/23 | (1988277) |
| EUR | 890000 | USD | 910541 | HSBC Securities Inc. | 2/3/23 | 57233 |
| EUR | 650000 | USD | 676693 | JPMorgan Chase & Co. | 2/3/23 | 30108 |
| EUR | 2200000 | USD | 2386978 | JPMorgan Chase & Co. | 2/3/23 | 5271 |
| EUR | 13550000 | USD | 14733186 | JPMorgan Chase & Co. | 2/3/23 | 895 |
| EUR | 41750000 | USD | 45373900 | JPMorgan Chase & Co. | 2/3/23 | 24469 |
| EUR | 1510000 | USD | 1608869 | Morgan Stanley & Co. Inc. | 2/3/23 | 33084 |
| EUR | 2540000 | USD | 2689663 | Morgan Stanley & Co. Inc. | 2/3/23 | 72297 |
| USD | 21265901 | EUR | 19840000 | Morgan Stanley & Co. Inc. | 2/3/23 | (307839) |
| SEK | 255600000 | USD | 23323296 | HSBC Securities Inc. | 2/6/23 | 1127487 |
| USD | 24192358 | SEK | 255600000 | Morgan Stanley & Co. Inc. | 2/6/23 | (258426) |
| PEN | 2200000 | USD | 574938 | HSBC Securities Inc. | 2/7/23 | (3123) |
| PEN | 59800000 | USD | 15613577 | HSBC Securities Inc. | 2/7/23 | (70613) |

---

**See Notes to Schedule of Investments.** 

4 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BrandywineGLOBAL — Global Unconstrained Bond Fund 2023 Quarterly Report

------

**BRANDYWINEGLOBAL — GLOBAL UNCONSTRAINED BOND 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)** |
| USD | 3365853 | PEN | 13500000 | HSBC Securities Inc. | 2/7/23 | $(143010) |
| USD | 12595767 | PEN | 48500000 | HSBC Securities Inc. | 2/7/23 | (10149) |
| ZAR | 8800000 | USD | 512244 | Goldman Sachs Group Inc. | 2/15/23 | (7169) |
| USD | 15898169 | ZAR | 276900000 | HSBC Securities Inc. | 2/15/23 | 5521 |
| ZAR | 144000000 | USD | 8305792 | HSBC Securities Inc. | 2/15/23 | (40926) |
| ZAR | 14500000 | USD | 831547 | JPMorgan Chase & Co. | 2/15/23 | 679 |
| USD | 17348990 | ZAR | 297700000 | Morgan Stanley & Co. Inc. | 2/15/23 | 262528 |
| ZAR | 152700000 | USD | 8836243 | Morgan Stanley & Co. Inc. | 2/15/23 | (72041) |
| ZAR | 18600000 | USD | 1071659 | UBS Securities LLC | 2/15/23 | (4114) |
| HUF | 3630000000 | USD | 9029851 | Goldman Sachs Group Inc. | 2/23/23 | 978899 |
| USD | 8276470 | HUF | 3190000000 | Goldman Sachs Group Inc. | 2/23/23 | (519097) |
| HUF | 3000000000 | USD | 7655991 | Morgan Stanley & Co. Inc. | 2/23/23 | 615703 |
| HUF | 3650000000 | USD | 8924308 | National Australia Bank Ltd. | 2/23/23 | 1139586 |
| USD | 728114 | HUF | 280000000 | UBS Securities LLC | 2/23/23 | (43911) |
| USD | 772359 | HUF | 280000000 | UBS Securities LLC | 2/23/23 | 334 |
| CLP | 16580000000 | USD | 18244741 | HSBC Securities Inc. | 3/6/23 | 2471934 |
| USD | 509479 | CLP | 430000000 | HSBC Securities Inc. | 3/6/23 | (27805) |
| USD | 4540509 | CLP | 4090000000 | HSBC Securities Inc. | 3/6/23 | (569937) |
| USD | 6385341 | CLP | 5290000000 | HSBC Securities Inc. | 3/6/23 | (224502) |
| USD | 8106328 | CLP | 6770000000 | HSBC Securities Inc. | 3/6/23 | (352773) |
| AUD | 14950000 | USD | 10650604 | Barclays Bank PLC | 3/7/23 | (83398) |
| AUD | 15970000 | USD | 11361218 | Barclays Bank PLC | 3/7/23 | (73038) |
| USD | 21345313 | AUD | 30920000 | Morgan Stanley & Co. Inc. | 3/7/23 | (510074) |
| KRW | 29130000000 | USD | 22405107 | Citibank N.A. | 3/8/23 | 1274932 |
| USD | 9254305 | KRW | 11760000000 | Citibank N.A. | 3/8/23 | (305505) |
| USD | 13593677 | KRW | 17370000000 | Citibank N.A. | 3/8/23 | (526553) |
| THB | 923800000 | USD | 26776812 | HSBC Securities Inc. | 3/10/23 | 1319199 |
| USD | 13190336 | THB | 452600000 | HSBC Securities Inc. | 3/10/23 | (574823) |
| USD | 13597668 | THB | 471200000 | HSBC Securities Inc. | 3/10/23 | (733183) |
| USD | 17215601 | CHF | 15890000 | Goldman Sachs Group Inc. | 3/13/23 | (218982) |
| CHF | 640000 | USD | 701009 | JPMorgan Chase & Co. | 3/13/23 | 1202 |
| JPY | 2418000000 | USD | 18488924 | JPMorgan Chase & Co. | 3/14/23 | 196163 |
| USD | 13406157 | JPY | 1809000000 | JPMorgan Chase & Co. | 3/14/23 | (572885) |
| JPY | 1120000000 | USD | 8850442 | Morgan Stanley & Co. Inc. | 3/14/23 | (195646) |
| USD | 4517293 | JPY | 609000000 | Morgan Stanley & Co. Inc. | 3/14/23 | (188752) |
| NOK | 169900000 | USD | 17237356 | Goldman Sachs Group Inc. | 3/20/23 | (177161) |
| NZD | 14720000 | USD | 9339914 | Goldman Sachs Group Inc. | 3/20/23 | 178606 |
| NZD | 19250000 | USD | 12302483 | Goldman Sachs Group Inc. | 3/20/23 | 145309 |
| USD | 424084 | NOK | 4180000 | Goldman Sachs Group Inc. | 3/20/23 | 4357 |

---

**See Notes to Schedule of Investments.** 

BrandywineGLOBAL — Global Unconstrained Bond Fund 2023 Quarterly Report 5

------

**BRANDYWINEGLOBAL — GLOBAL UNCONSTRAINED BOND 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)** |
| USD | 8667749 | NZD | 13730000 | Goldman Sachs Group Inc. | 3/20/23 | $(210598) |
| USD | 13023366 | NZD | 20420000 | Goldman Sachs Group Inc. | 3/20/23 | (180994) |
| USD | 21971502 | NZD | 34360000 | Goldman Sachs Group Inc. | 3/20/23 | (246999) |
| NZD | 1300000 | USD | 840472 | HSBC Securities Inc. | 3/20/23 | 158 |
| USD | 416343 | NOK | 4100000 | JPMorgan Chase & Co. | 3/20/23 | 4649 |
| NOK | 214300000 | USD | 22087439 | Morgan Stanley & Co. Inc. | 3/20/23 | (568900) |
| USD | 1272948 | NOK | 12700000 | Morgan Stanley & Co. Inc. | 3/20/23 | (2299) |
| NZD | 1000000 | USD | 638934 | UBS Securities LLC | 3/20/23 | 7705 |
| SEK | 220000000 | USD | 21324235 | Barclays Bank PLC | 4/14/23 | (202474) |
| USD | 21061701 | SEK | 220000000 | HSBC Securities Inc. | 4/14/23 | (60060) |
| BRL | 66730000 | USD | 12944714 | HSBC Securities Inc. | 4/19/23 | 15176 |
| USD | 22451028 | BRL | 116330000 | HSBC Securities Inc. | 4/19/23 | (141870) |
| PLN | 4700000 | USD | 1078402 | Citibank N.A. | 4/20/23 | 104 |
| USD | 19054585 | PLN | 83360000 | HSBC Securities Inc. | 4/20/23 | (73979) |
| CAD | 17050000 | USD | 12663775 | Citibank N.A. | 4/25/23 | 159518 |
| USD | 450855 | CAD | 600000 | JPMorgan Chase & Co. | 4/25/23 | (405) |
| COP | 23330000000 | USD | 5063923 | JPMorgan Chase & Co. | 4/27/23 | (151946) |
| COP | 34870000000 | USD | 7577634 | JPMorgan Chase & Co. | 4/27/23 | (235987) |
| USD | 16268720 | MXN | 312200000 | Citibank N.A. | 4/28/23 | (48739) |
| USD | 8469294 | MXN | 164400000 | JPMorgan Chase & Co. | 4/28/23 | (123244) |
| MXN | 26000000 | USD | 1360952 | Morgan Stanley & Co. Inc. | 4/28/23 | (2035) |
| EUR | 20390000 | USD | 22252728 | HSBC Securities Inc. | 5/5/23 | 41266 |
| USD | 45634838 | EUR | 41750000 | JPMorgan Chase & Co. | 5/5/23 | (13728) |
| PEN | 3040000 | USD | 785327 | HSBC Securities Inc. | 5/9/23 | (525) |
| USD | 15335148 | PEN | 59140000 | HSBC Securities Inc. | 5/9/23 | 67661 |
| Total |  |  |  |  |  | $(984553) |

---

**See Notes to Schedule of Investments.** 

6 &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BrandywineGLOBAL — Global Unconstrained Bond Fund 2023 Quarterly Report

------

**BRANDYWINEGLOBAL — GLOBAL UNCONSTRAINED BOND FUND** 

---

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

---

---

| | |
|:---|:---|
| <u>Abbreviation(s) used in this table:</u> | <u>Abbreviation(s) used in this table:</u> |
| AUD | — Australian Dollar |
| BRL | — Brazilian Real |
| CAD | — Canadian Dollar |
| CHF | — Swiss Franc |
| CLP | — Chilean Peso |
| COP | — Colombian Peso |
| EUR | — Euro |
| HUF | — Hungarian Forint |
| JPY | — Japanese Yen |
| KRW | — South Korean Won |
| MXN | — Mexican Peso |
| NOK | — Norwegian Krone |
| NZD | — New Zealand Dollar |
| PEN | — Peruvian Nuevo Sol |
| PLN | — Polish Zloty |
| SEK | — Swedish Krona |
| THB | — Thai Baht |
| USD | — United States Dollar |
| ZAR | — South African Rand |

---

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 — Global Unconstrained Bond Fund 2023 Quarterly Report 7

------

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

**1. Organization and significant accounting policies** 

BrandywineGLOBAL — Global Unconstrained Bond 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. 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>8<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)

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

<br>9<br>

------

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

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; Sovereign Bonds |  | $136674038 |  | $136674038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government & Agency Obligations |  | 105905189 |  | 105905189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Mortgage-Backed Securities |  | 58728790 |  | 58728790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes |  | 37793500 |  | 37793500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations |  | 29096902 |  | 29096902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible Bonds & Notes |  | 1793043 |  | 1793043 |
|  Total Long-Term Investments |  | 369991462 |  | 369991462 |
|  Short-Term Investments† | $25764009 |  |  | 25764009 |
|  Total Investments | $25764009 | $369991462 |  | $395755471 |
|  Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Futures Contracts†† | $1947184 |  |  | $1947184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† |  | $10242033 |  | 10242033 |
|  Total Other Financial Instruments | $1947184 | $10242033 |  | $12189217 |
|  Total | $27711193 | $380233495 |  | $407944688 |
| **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†† | $1253683 |  |  | $1253683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† |  | $11226586 |  | 11226586 |
|  Total | $1253683 | $11226586 |  | $12480269 |

---

† See Schedule of Investments for additional detailed categorizations.

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

<br>10<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** | **Realized<br>Gain (Loss)** | **Dividend<br>Income** | **Net Increase<br>(Decrease) in<br>Unrealized <br>Appreciation<br>(Depreciation)** | **Affiliate <br>Value at <br>January 31,<br>2023** |
|  | **Affiliate<br>Value at<br>October 31,<br>2022** | **Cost** | **Shares** | **Proceeds** | **Shares** | **Realized<br>Gain (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 | $11203667 | $145117216 | 145117216 | $130556874 | 130556874 |  | $101395 |  | $25764009 |

---

<br>11<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 - Global Unconstrained Bond Fund

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

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

**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:** $439812709.84

**Total Liabilities:** $13554933.46

**Net Assets:** $426257776.38

**Cash Not Reported:** $14691813.36

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 22.47552768 | **1-Year:** 7332.43314147 | **5-Year:** 8850.33428629 | **10-Year:** 732.06536610 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 6584.42612566 | **5-Year:** 17585.80836865 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000097872 | 4.39%                | 0.48%                | 1.98%                |
| Class ID C000097873 | 4.38%                | 0.49%                | 1.93%                |
| Class ID C000097874 | 4.50%                | 0.56%                | 1.91%                |
| Class ID C000097870 | 4.44%                | 0.44%                | 2.01%                |
| Class ID C000097875 | 4.48%                | 0.52%                | 1.90%                |
| Class ID C000116978 | 4.32%                | 0.42%                | 1.93%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-12310222.22            | $28156066.61                               |
| Month 2  | $-1880526.16             | $-2019407.79                               |
| Month 3  | $-1926420.12             | $13564196.39                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Fannie Mae                                               | Fannie Mae Pool                                              | CUSIP: 31418EHK9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     10065895 | PA      | $9951397.75   | 2.33%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | USD/JPY FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-188752.41   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                               | Fannie Mae Pool                                              | CUSIP: 31418ELY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      8665618 | PA      | $8815596.51   | 2.07%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac Pool                                             | CUSIP: 3133KPUP1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3908827 | PA      | $3929316.57   | 0.92%             | 2052-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | PEN/USD FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $67660.57     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                     | Colombian TES                                                | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 105810000000 | PA      | $13855461.46  | 3.25%             | 2050-10-26      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                          | United States Treasury Note/Bond                             | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    108350000 | PA      | $101959042.43 | 23.92%            | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | CAD/USD FORWARD                                              | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |            1 | NC      | $159518.10    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | SEK/USD FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $1127487.31   | 0.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                 | Angel Oak Mortgage Trust 2019-6                              | CUSIP: 03464VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1002177 | PA      | $968423.31    | 0.23%             | 2059-11-25      | Variable      | 2.62%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                | Towd Point Mortgage Trust 2018-3                             | CUSIP: 89175MAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2545000 | PA      | $2355824.30   | 0.55%             | 2058-05-25      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | USD/NZD FORWARD                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |            1 | NC      | $323915.36    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                               | Fannie Mae Pool                                              | CUSIP: 31418ELX6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7679611 | PA      | $7716034.76   | 1.81%             | 2052-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | ZAR/USD FORWARD                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-7169.04     | -0.00%            |  |  |  | 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      | $60742.87     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac Pool                                             | CUSIP: 3132DWFS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     12071845 | PA      | $12280776.12  | 2.88%             | 2052-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | EUR/USD FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |            1 | NC      | $105381.74    | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | NOK/USD FORWARD                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-177161.17   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                | Towd Point Mortgage Trust 2018-5                             | CUSIP: 89176VAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7551496 | PA      | $7149044.79   | 1.68%             | 2058-07-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | USD/BRL FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $15176.44     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | SEK/USD FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-258425.59   | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK LIMITED                          | USD/HUF FORWARD                                              | CUSIP: 000000000<br>LEI: F8SB4JFBSYQFRQEH3Z21 | N/A              | DFE              | CORP              | US        |            1 | NC      | $1139586.53   | 0.27%             |  |  |  | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                                       | Long Gilt                                                    | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |         -677 | NC      | $-276770.12   | -0.06%            |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | CLP/USD FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-1175018.05  | -0.28%            |  |  |  | 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      | $-13728.16    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured P                           | Freddie Mac Multifamily Structured Pass Through Certificates | CUSIP: 3137FKUP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2850000 | PA      | $2815451.16   | 0.66%             | 2028-12-25      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | EUR/USD FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $57233.03     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                                   | Republic of Poland Government Bond                           | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    119080000 | PA      | $19454929.01  | 4.56%             | 2032-04-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | USD/JPY FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-195645.78   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | ZAR/USD FORWARD                                              | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-4113.91     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | USD/ZAR FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |            1 | NC      | $262528.09    | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | ZAR/USD FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-40925.70    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                      | COMM 2017-PANW Mortgage Trust                                | CUSIP: 12595HAG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4900000 | PA      | $4500884.71   | 1.06%             | 2029-10-10      | Variable      | 3.93%                 | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.                                    | USD/EUR FORWARD                                              | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-2146369.04  | -0.50%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | THB/USD FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $1319198.99   | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                  | Goldman Sachs Group Inc/The                                  | CUSIP: 38141GZV9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      8820000 | PA      | $8952442.44   | 2.10%             | 2024-11-01      | Fixed         | 5.70%                 | 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      | $196162.93    | 0.05%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | PEN/USD FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-73736.14    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                  | Mexican Bonos                                                | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    144000000 | PA      | $7052753.78   | 1.65%             | 2047-11-07      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JACKSON NATL LIFE GLOBAL                                 | Jackson National Life Global Funding                         | CUSIP: 46849CJL6<br>LEI: 635400PQXLYXWJI5QD78 | Long             | DBT              | CORP              | US        |      8290000 | PA      | $8327757.47   | 1.95%             | 2024-06-28      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac Pool                                             | CUSIP: 3132DWFG3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4817312 | PA      | $4840159.50   | 1.14%             | 2052-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac Pool                                             | CUSIP: 3132DWE66<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4961927 | PA      | $4905485.66   | 1.15%             | 2052-10-01      | Fixed         | 4.50%                 | 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        |     11252561 | NS      | $11252561.05  | 2.64%             |  |  |  | No            |                  1 | On Loan: No      |
| BARCLAYS CAPITAL INC.                                    | SEK/USD FORWARD                                              | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-202474.14   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS CAPITAL INC.                                    | USD/AUD FORWARD                                              | CUSIP: 000000000<br>LEI: AC28XWWI3WIBK2824319 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-156435.52   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| OSAKA EXCHANGE,INC                                       | TSE Japanese 10 Year Bond                                    | CUSIP: 000000000<br>LEI: 3538001249AILNPRUX57 | N/A              | DIR              | CORP              | JP        |         -162 | NC      | $1947184.12   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | COP/USD FORWARD                                              | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-387932.66   | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | USD/AUD FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-510073.63   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                     | Colombian TES                                                | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  48960000000 | PA      | $8228353.17   | 1.93%             | 2042-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | KRW/USD FORWARD                                              | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-832057.88   | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | USD/ZAR FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $5520.73      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | HUF/USD FORWARD                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |            1 | NC      | $978898.65    | 0.23%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | USD/BRL FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-141869.65   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | USD/HUF FORWARD                                              | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-43911.00    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | USD/NOK FORWARD                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |            1 | NC      | $4356.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | MXN/USD FORWARD                                              | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-123244.42   | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | USD/NZD FORWARD                                              | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |            1 | NC      | $7704.55      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                     | Colombian TES                                                | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  33270000000 | PA      | $5531817.40   | 1.30%             | 2028-04-28      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JABIL INC                                                | Jabil Inc                                                    | CUSIP: 466313AK9<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |      2300000 | PA      | $1975318.75   | 0.46%             | 2031-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Residential Mortgage Loan Trus                           | Residential Mortgage Loan Trust 2019-3                       | CUSIP: 76119NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1075961 | PA      | $1055855.67   | 0.25%             | 2059-09-25      | Variable      | 2.63%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | PLN/USD FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-73978.83    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | MXN/USD FORWARD                                              | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-48739.30    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | EUR/USD FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-307838.92   | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | USD/ZAR FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-72041.55    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | CLP/USD FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $2471934.31   | 0.58%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | NOK/USD FORWARD                                              | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |            1 | NC      | $4649.49      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | NOK/USD FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-568900.33   | -0.13%            |  |  |  | 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        |    172790000 | PA      | $29210944.64  | 6.85%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                        | DISH Network Corp                                            | CUSIP: 25470MAB5<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |      2730000 | PA      | $1793042.62   | 0.42%             | 2026-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | USD/CHF FORWARD                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-218981.85   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                               | Fannie Mae Pool                                              | CUSIP: 31418EJ76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3965500 | PA      | $3984308.06   | 0.93%             | 2052-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | USD/NZD FORWARD                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-427992.13   | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac Pool                                             | CUSIP: 3132DWES8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      6981179 | PA      | $6901769.53   | 1.62%             | 2052-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | HUF/USD FORWARD                                              | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |            1 | NC      | $615702.91    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | HUF/USD FORWARD                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-519097.22   | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | PEN/USD FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-153158.74   | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                  | Mexican Bonos                                                | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    364400000 | PA      | $17865783.00  | 4.19%             | 2053-07-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley BAML Trust                                | Morgan Stanley Bank of America Merrill Lynch Trust 2017-C34  | CUSIP: 61767EAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8755000 | PA      | $8239820.78   | 1.93%             | 2052-11-15      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| US TREASURY FRN                                          | United States Treasury Floating Rate Note                    | CUSIP: 91282CFD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      7750000 | PA      | $7747849.61   | 1.82%             | 2024-07-31      | Floating      | 4.67%                 | 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        |          738 | NC      | $-1027428.84  | -0.24%            |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | NZD/USD FORWARD                                              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-210598.26   | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Pastor IM FTH/FTA                                        | IM Pastor 4 FTA                                              | CUSIP: 000000000<br>LEI: 95980020140005262912 | Long             | ABS-MBS          | CORP              | ES        |      2164079 | PA      | $2011596.68   | 0.47%             | 2044-03-22      | Floating      | 2.22%                 | No            |                  2 | On Loan: No      |
| MACQUARIE GROUP LTD                                      | Macquarie Group Ltd                                          | CUSIP: 55608JBL1<br>LEI: ACMHD8HWFMFUIQQ8Y590 | Long             | DBT              | CORP              | AU        |      8900000 | PA      | $9076733.53   | 2.13%             | 2024-11-22      | Fixed         | 6.21%                 | 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        |     79000000 | PA      | $13039199.93  | 3.06%             | 2033-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | USD/JPY FORWARD                                              | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-572884.73   | -0.13%            |  |  |  | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                                   | Commonwealth Bank of Australia                               | CUSIP: 2027A0KJ7<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |      9430000 | PA      | $9461247.91   | 2.22%             | 2025-03-14      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | USD/THB FORWARD                                              | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |            1 | NC      | $-1308006.25  | -0.31%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                 | Republic of South Africa Government Bond                     | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    311200000 | PA      | $14166754.02  | 3.32%             | 2048-02-28      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | KRW/USD FORWARD                                              | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |            1 | NC      | $1274931.92   | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| BONOS DE TESORERIA                                       | Peru Government Bond                                         | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     66200000 | PA      | $15073933.69  | 3.54%             | 2032-08-12      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-17

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

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer