# EDGAR Filing Document

**Accession Number:** 0000764624
**File Stem:** 0000940400-25-014345
**Filing Date:** 2025-12
**Character Count:** 314366
**Document Hash:** ccd036036ee7a7346bc205c25e7fc212
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-014345.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0000940400-25-014345

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20260731

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04254
- **FILM NUMBER:** 251598333

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

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

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

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

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

## Series and Classes Contracts Data

### Western Asset Short Duration High Income Fund (Series ID: S000008975)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000024383 | Class A      | SHIAX           |
| C000024385 | Class C      | LWHIX           |
| C000024386 | Class I      | SHIYX           |
| C000071124 | Class R      | LWSRX           |
| C000081534 | Class C1     | SHICX           |

## Nport-Ex

Schedule of Investments (unaudited)

October 31, 2025

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity <br>Date<br>| Face <br>Amount†<br>| Value |
| **Corporate Bonds & Notes — 76.1%** | **Corporate Bonds & Notes — 76.1%** | **Corporate Bonds & Notes — 76.1%** | **Corporate Bonds & Notes — 76.1%** | **Corporate Bonds & Notes — 76.1%** |
| **Communication Services — 11.4%** | **Communication Services — 11.4%** | **Communication Services — 11.4%** | **Communication Services — 11.4%** | **Communication Services — 11.4%** |
| *Diversified Telecommunication Services — 1.2%* | *Diversified Telecommunication Services — 1.2%* | *Diversified Telecommunication Services — 1.2%* | *Diversified Telecommunication Services — 1.2%* | *Diversified Telecommunication Services — 1.2%* |
| &nbsp;&nbsp;&nbsp; Altice Financing SA, Senior Secured Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 3300000<br>| &nbsp;&nbsp;&nbsp; $2462841<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France Lux 3/Altice Holdings 1, Senior Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 470658<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 673084<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 2056167<br>| &nbsp;&nbsp;&nbsp; 2012766<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 3/15/32 | &nbsp;&nbsp; 546771<br>| &nbsp;&nbsp;&nbsp; 524008<br> <sup>(a)</sup><br>|
| *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | &nbsp;&nbsp; *6143357* |
| *Entertainment — 1.5%* | *Entertainment — 1.5%* | *Entertainment — 1.5%* | *Entertainment — 1.5%* | *Entertainment — 1.5%* |
| &nbsp;&nbsp;&nbsp; Allen Media LLC/Allen Media Co-Issuer Inc., Senior Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 1730000<br>| &nbsp;&nbsp;&nbsp; 769850<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; AMC Entertainment Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 2010000<br>| &nbsp;&nbsp;&nbsp; 1710754<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Banijay Entertainment SAS, Senior Secured Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 2350000<br>| &nbsp;&nbsp;&nbsp; 2440816<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Flutter Treasury DAC, Senior Secured Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 6/4/31 | &nbsp;&nbsp; 1470000<br>| &nbsp;&nbsp;&nbsp; 1489294<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings Inc., Senior Notes | &nbsp;&nbsp; 4.279% | &nbsp;&nbsp; 3/15/32 | &nbsp;&nbsp; 1435000<br>| &nbsp;&nbsp;&nbsp; 1316164<br>|
| *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | &nbsp;&nbsp; *7726878* |
| *Media — 7.3%* | *Media — 7.3%* | *Media — 7.3%* | *Media — 7.3%* | *Media — 7.3%* |
| &nbsp;&nbsp;&nbsp; AMC Networks Inc., Senior Secured Notes | &nbsp;&nbsp; 10.250% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 924513<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 3/1/30 | &nbsp;&nbsp; 4900000<br>| &nbsp;&nbsp;&nbsp; 4662424<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 8/15/30 | &nbsp;&nbsp; 1600000<br>| &nbsp;&nbsp;&nbsp; 1501031<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 5/1/32 | &nbsp;&nbsp; 3000000<br>| &nbsp;&nbsp;&nbsp; 2670539<br>|
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 1080000<br>| &nbsp;&nbsp;&nbsp; 1114763<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC, Senior Secured Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 1970000<br>| &nbsp;&nbsp;&nbsp; 1960798<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC/DirecTV Financing Co-Obligor Inc., Senior <br> Secured Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 987147<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DISH DBS Corp., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp; 2327000<br>| &nbsp;&nbsp;&nbsp; 2305432<br>|
| &nbsp;&nbsp;&nbsp; DISH DBS Corp., Senior Secured Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 12/1/26 | &nbsp;&nbsp; 1340000<br>| &nbsp;&nbsp;&nbsp; 1319323<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DISH DBS Corp., Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 12/1/28 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1154079<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DISH Network Corp., Senior Secured Notes | &nbsp;&nbsp; 11.750% | &nbsp;&nbsp; 11/15/27 | &nbsp;&nbsp; 1650000<br>| &nbsp;&nbsp;&nbsp; 1738123<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes | &nbsp;&nbsp; 10.750% | &nbsp;&nbsp; 11/30/29 | &nbsp;&nbsp; 6273000<br>| &nbsp;&nbsp;&nbsp; 6910365<br>|
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes (6.750% Cash or 6.750% PIK) | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 11/30/30 | &nbsp;&nbsp; 517020<br>| &nbsp;&nbsp;&nbsp; 534071<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; EW Scripps Co., Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 8/15/30 | &nbsp;&nbsp; 1120000<br>| &nbsp;&nbsp;&nbsp; 1063251<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Getty Images Inc., Senior Secured Notes | &nbsp;&nbsp; 11.250% | &nbsp;&nbsp; 2/21/30 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 149035<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Getty Images Inc., Senior Secured Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 11/15/30 | &nbsp;&nbsp; 810000<br>| &nbsp;&nbsp;&nbsp; 817452<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gray Media Inc., Secured Notes | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 830000<br>| &nbsp;&nbsp;&nbsp; 835072<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; McClatchy Media Co. LLC, Senior Secured Notes (11.000% Cash or <br> 12.500% PIK) | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/1/31 | &nbsp;&nbsp; 3313206<br>| &nbsp;&nbsp;&nbsp; 3723215<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Univision Communications Inc., Senior Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp; 875640<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Univision Communications Inc., Senior Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 8/1/32 | &nbsp;&nbsp; 840000<br>| &nbsp;&nbsp;&nbsp; 887572<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Versant Media Group Inc., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 1/30/31 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 989354<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Virgin Media Finance PLC, Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp; 357464<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VZ Secured Financing BV, Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 714075<br> <sup>(a)</sup><br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *38194738* |
| *Wireless Telecommunication Services — 1.4%* | *Wireless Telecommunication Services — 1.4%* | *Wireless Telecommunication Services — 1.4%* | *Wireless Telecommunication Services — 1.4%* | *Wireless Telecommunication Services — 1.4%* |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 11.750% | &nbsp;&nbsp; 1/31/29 | &nbsp;&nbsp; 3540000<br>| &nbsp;&nbsp;&nbsp; 2798673<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 3320000<br>| &nbsp;&nbsp;&nbsp; 2287020<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/31 | &nbsp;&nbsp; 640000<br>| &nbsp;&nbsp;&nbsp; 224832<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* |
| &nbsp;&nbsp;&nbsp; Vmed O2 UK Financing I PLC, Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 2240000<br>| &nbsp;&nbsp;&nbsp; $2248303<br> <sup>(a)</sup><br>|
| *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | &nbsp;&nbsp; *7558828* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **59623801** |
| **Consumer Discretionary — 13.8%** | **Consumer Discretionary — 13.8%** | **Consumer Discretionary — 13.8%** | **Consumer Discretionary — 13.8%** | **Consumer Discretionary — 13.8%** |
| *Automobile Components — 3.0%* | *Automobile Components — 3.0%* | *Automobile Components — 3.0%* | *Automobile Components — 3.0%* | *Automobile Components — 3.0%* |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 651865<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 3000000<br>| &nbsp;&nbsp;&nbsp; 2853384<br>|
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., Senior Secured Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 2080000<br>| &nbsp;&nbsp;&nbsp; 2087766<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clarios Global LP/Clarios US Finance Co., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 2/15/30 | &nbsp;&nbsp; 3280000<br>| &nbsp;&nbsp;&nbsp; 3402574<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; JB Poindexter & Co. Inc., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 12/15/31 | &nbsp;&nbsp; 2240000<br>| &nbsp;&nbsp;&nbsp; 2346875<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 4/14/30 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 194863<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 4/23/30 | &nbsp;&nbsp; 3400000<br>| &nbsp;&nbsp;&nbsp; 3239584<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 3/24/31 | &nbsp;&nbsp; 1250000<br>| &nbsp;&nbsp;&nbsp; 1203019<br> <sup>(a)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *15979930* |
| *Automobiles — 1.5%* | *Automobiles — 1.5%* | *Automobiles — 1.5%* | *Automobiles — 1.5%* | *Automobiles — 1.5%* |
| &nbsp;&nbsp;&nbsp; Ford Motor Co., Senior Notes | &nbsp;&nbsp; 6.100% | &nbsp;&nbsp; 8/19/32 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1027170<br>|
| &nbsp;&nbsp;&nbsp; Nissan Motor Co. Ltd., Senior Notes | &nbsp;&nbsp; 4.810% | &nbsp;&nbsp; 9/17/30 | &nbsp;&nbsp; 1970000<br>| &nbsp;&nbsp;&nbsp; 1849008<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; PM General Purchaser LLC, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp; 5800000<br>| &nbsp;&nbsp;&nbsp; 5045353<br> <sup>(a)</sup><br>|
| *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | &nbsp;&nbsp; *7921531* |
| *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Adtalem Global Education Inc., Senior Secured Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 3/1/28 | &nbsp;&nbsp; 1132000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1134083*<br> <sup>(a)</sup><br>|
| *Hotels, Restaurants & Leisure — 5.6%* | *Hotels, Restaurants & Leisure — 5.6%* | *Hotels, Restaurants & Leisure — 5.6%* | *Hotels, Restaurants & Leisure — 5.6%* | *Hotels, Restaurants & Leisure — 5.6%* |
| &nbsp;&nbsp;&nbsp; Carnival Corp., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 5090000<br>| &nbsp;&nbsp;&nbsp; 5156107<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Carnival Corp., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 258018<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Carnival Corp., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 140000<br>| &nbsp;&nbsp;&nbsp; 144461<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta Entertainment Finance Co. Inc., <br> Senior Secured Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 1500000<br>| &nbsp;&nbsp;&nbsp; 1436115<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Full House Resorts Inc., Senior Secured Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 2770000<br>| &nbsp;&nbsp;&nbsp; 2461506<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 153411<br>|
| &nbsp;&nbsp;&nbsp; Las Vegas Sands Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 6/14/30 | &nbsp;&nbsp; 1040000<br>| &nbsp;&nbsp;&nbsp; 1087606<br>|
| &nbsp;&nbsp;&nbsp; Life Time Inc., Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 11/15/31 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp; 689982<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd., Senior Notes | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 12/4/29 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 989280<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd., Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 9/24/33 | &nbsp;&nbsp; 1980000<br>| &nbsp;&nbsp;&nbsp; 1994593<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MGM Resorts International, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 4/15/27 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1146806<br>|
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 2760000<br>| &nbsp;&nbsp;&nbsp; 2760418<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Lender LLC/Rivers Enterprise Lender Corp., Senior <br> Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 1890000<br>| &nbsp;&nbsp;&nbsp; 1906586<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 4500000<br>| &nbsp;&nbsp;&nbsp; 4528264<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 9.125% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 2144078<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VOC Escrow Ltd., Senior Secured Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 249885<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 2300000<br>| &nbsp;&nbsp;&nbsp; 2300931<br> <sup>(a)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *29408047* |
| *Household Durables — 0.8%* | *Household Durables — 0.8%* | *Household Durables — 0.8%* | *Household Durables — 0.8%* | *Household Durables — 0.8%* |
| &nbsp;&nbsp;&nbsp; Dream Finders Homes Inc., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 2064306<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dream Finders Homes Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 9/15/30 | &nbsp;&nbsp; 1300000<br>| &nbsp;&nbsp;&nbsp; 1294742<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Household Durables — continued* | *Household Durables — continued* | *Household Durables — continued* | *Household Durables — continued* | *Household Durables — continued* |
| &nbsp;&nbsp;&nbsp; Newell Brands Inc., Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; $689039<br> <sup>(a)</sup><br>|
| *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | &nbsp;&nbsp; *4048087* |
| *Specialty Retail — 2.7%* | *Specialty Retail — 2.7%* | *Specialty Retail — 2.7%* | *Specialty Retail — 2.7%* | *Specialty Retail — 2.7%* |
| &nbsp;&nbsp;&nbsp; Academy Ltd., Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 11/15/27 | &nbsp;&nbsp; 440000<br>| &nbsp;&nbsp;&nbsp; 442551<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Acushnet Co., Senior Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 10/15/28 | &nbsp;&nbsp; 1320000<br>| &nbsp;&nbsp;&nbsp; 1370741<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bath & Body Works Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 2/1/28 | &nbsp;&nbsp; 2400000<br>| &nbsp;&nbsp;&nbsp; 2418271<br>|
| &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 2500000<br>| &nbsp;&nbsp;&nbsp; 2408762<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes | &nbsp;&nbsp; 11.500% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 205277<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Michaels Cos. Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 1180000<br>| &nbsp;&nbsp;&nbsp; 1041350<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Michaels Cos. Inc., Senior Secured Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 5/1/28 | &nbsp;&nbsp; 2880000<br>| &nbsp;&nbsp;&nbsp; 2703690<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sally Holdings LLC/Sally Capital Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 812637<br>|
| &nbsp;&nbsp;&nbsp; Upbound Group Inc., Senior Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 2590000<br>| &nbsp;&nbsp;&nbsp; 2513165<br> <sup>(a)</sup><br>|
| *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *13916444* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **72408122** |
| **Consumer Staples — 0.8%** | **Consumer Staples — 0.8%** | **Consumer Staples — 0.8%** | **Consumer Staples — 0.8%** | **Consumer Staples — 0.8%** |
| *Beverages — 0.2%* | *Beverages — 0.2%* | *Beverages — 0.2%* | *Beverages — 0.2%* | *Beverages — 0.2%* |
| &nbsp;&nbsp;&nbsp; Primo Water Holdings Inc./Triton Water Holdings Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 1130000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1132955*<br> <sup>(a)</sup><br>|
| *Food Products — 0.6%* | *Food Products — 0.6%* | *Food Products — 0.6%* | *Food Products — 0.6%* | *Food Products — 0.6%* |
| &nbsp;&nbsp;&nbsp; Simmons Foods Inc./Simmons Prepared Foods Inc./Simmons Pet Food Inc./<br> Simmons Feed Ingredients Inc., Secured Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 1304752<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TKC Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 5/15/28 | &nbsp;&nbsp; 1796000<br>| &nbsp;&nbsp;&nbsp; 1812865<br> <sup>(a)</sup><br>|
| *Total Food Products* | *Total Food Products* | *Total Food Products* | *Total Food Products* | &nbsp;&nbsp; *3117617* |
| **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **4250572** |
| **Energy — 9.7%** | **Energy — 9.7%** | **Energy — 9.7%** | **Energy — 9.7%** | **Energy — 9.7%** |
| *Energy Equipment & Services — 0.9%* | *Energy Equipment & Services — 0.9%* | *Energy Equipment & Services — 0.9%* | *Energy Equipment & Services — 0.9%* | *Energy Equipment & Services — 0.9%* |
| &nbsp;&nbsp;&nbsp; Nabors Industries Inc., Senior Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 8/15/31 | &nbsp;&nbsp; 1670000<br>| &nbsp;&nbsp;&nbsp; 1588553<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Shelf Drilling Holdings Ltd., Senior Secured Notes | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 1980000<br>| &nbsp;&nbsp;&nbsp; 2083451<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; WBI Operating LLC, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 999745<br> <sup>(a)</sup><br>|
| *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | &nbsp;&nbsp; *4671749* |
| *Oil, Gas & Consumable Fuels — 8.8%* | *Oil, Gas & Consumable Fuels — 8.8%* | *Oil, Gas & Consumable Fuels — 8.8%* | *Oil, Gas & Consumable Fuels — 8.8%* | *Oil, Gas & Consumable Fuels — 8.8%* |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream Finance Corp., Senior <br> Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 10/15/33 | &nbsp;&nbsp; 1270000<br>| &nbsp;&nbsp;&nbsp; 1269015<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 7/15/26 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 630660<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 7/15/29 | &nbsp;&nbsp; 2980000<br>| &nbsp;&nbsp;&nbsp; 3093943<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chord Energy Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 972915<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chord Energy Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 1970000<br>| &nbsp;&nbsp;&nbsp; 2013370<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC, Senior Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 3000000<br>| &nbsp;&nbsp;&nbsp; 2910940<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Granite Ridge Resources Inc., Senior Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 10/31/29 | &nbsp;&nbsp; 3110000<br>| &nbsp;&nbsp;&nbsp; 2985600<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP, Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 3/1/28 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1164208<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp Finance Co., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 1350000<br>| &nbsp;&nbsp;&nbsp; 1317377<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MEG Energy Corp., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 1700000<br>| &nbsp;&nbsp;&nbsp; 1702421<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Generation Gas Gathering LLC, Senior Secured Notes (3 mo. Term <br> SOFR + 5.750%) | &nbsp;&nbsp; 9.639% | &nbsp;&nbsp; 9/30/29 | &nbsp;&nbsp; 2648648<br>| &nbsp;&nbsp;&nbsp; 2754595<br> <sup>(a)(d)(e)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas Inc., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp; 1500000<br>| &nbsp;&nbsp;&nbsp; 1530660<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 4/15/27 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp; 517343<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp; 3500000<br>| &nbsp;&nbsp;&nbsp; 3505719<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* |
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 646000<br>| &nbsp;&nbsp;&nbsp; $700891<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Range Resources Corp., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 2041622<br>|
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 429636<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Summit Midstream Holdings LLC, Senior Secured Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 10/31/29 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 529428<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sunoco LP, Junior Subordinated Notes (7.875% to 9/18/30 then 5 year <br> Treasury Constant Maturity Rate + 4.230%) | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 9/18/30 | &nbsp;&nbsp; 2563000<br>| &nbsp;&nbsp;&nbsp; 2604687<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sunoco LP, Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 1260000<br>| &nbsp;&nbsp;&nbsp; 1261600<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Senior <br> Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 587168<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 1880000<br>| &nbsp;&nbsp;&nbsp; 2024549<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Senior Secured Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 1160000<br>| &nbsp;&nbsp;&nbsp; 1174622<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Senior Secured Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp; 5500000<br>| &nbsp;&nbsp;&nbsp; 5651338<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 5/1/33 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 902327<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vermilion Energy Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 5/1/30 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 1905515<br> <sup>(a)</sup><br>|
| *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | &nbsp;&nbsp; *46182149* |
| **Total Energy** | **Total Energy** | **Total Energy** | **Total Energy** | &nbsp;&nbsp; **50853898** |
| **Financials — 9.2%** | **Financials — 9.2%** | **Financials — 9.2%** | **Financials — 9.2%** | **Financials — 9.2%** |
| *Banks — 2.0%* | *Banks — 2.0%* | *Banks — 2.0%* | *Banks — 2.0%* | *Banks — 2.0%* |
| &nbsp;&nbsp;&nbsp; Banco Santander SA, Junior Subordinated Notes (9.625% to 11/21/33 <br> then 5 year Treasury Constant Maturity Rate + 5.298%) | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp; 5/21/33 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1464242<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Junior Subordinated Notes (5.875% to 3/15/28 <br> then 3 mo. Term SOFR + 3.193%) | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 3/15/28 | &nbsp;&nbsp; 690000<br>| &nbsp;&nbsp;&nbsp; 698364<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BNP Paribas SA, Junior Subordinated Notes (7.750% to 8/16/29 then 5 <br> year Treasury Constant Maturity Rate + 4.899%) | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 8/16/29 | &nbsp;&nbsp; 2520000<br>| &nbsp;&nbsp;&nbsp; 2659288<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BNP Paribas SA, Junior Subordinated Notes (8.000% to 8/22/31 then 5 <br> year Treasury Constant Maturity Rate + 3.727%) | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 8/22/31 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 513362<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Junior Subordinated Notes (7.200% to 5/15/29 then 5 <br> year Treasury Constant Maturity Rate + 2.905%) | &nbsp;&nbsp; 7.200% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 1300000<br>| &nbsp;&nbsp;&nbsp; 1348074<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, Junior Subordinated Notes (8.000% to <br> 3/27/30 then 5 year Treasury Constant Maturity Rate + 3.913%) | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 9/27/29 | &nbsp;&nbsp; 1480000<br>| &nbsp;&nbsp;&nbsp; 1604864<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank, Junior Subordinated Notes (8.125% to <br> 10/31/27 then 5 year Treasury Constant Maturity Rate + 4.075%) | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 10/31/82 | &nbsp;&nbsp; 2300000<br>| &nbsp;&nbsp;&nbsp; 2432211<br> <sup>(f)</sup><br>|
| *Total Banks* | *Total Banks* | *Total Banks* | *Total Banks* | &nbsp;&nbsp; *10720405* |
| *Capital Markets — 0.7%* | *Capital Markets — 0.7%* | *Capital Markets — 0.7%* | *Capital Markets — 0.7%* | *Capital Markets — 0.7%* |
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp., Junior Subordinated Notes (4.000% to 12/1/30 <br> then 10 year Treasury Constant Maturity Rate + 3.079%) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 790000<br>| &nbsp;&nbsp;&nbsp; 741714<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Coinbase Global Inc., Senior Notes | &nbsp;&nbsp; 3.375% | &nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1047094<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Suisse AG AT1 Claim | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 0<br> \*<sup>(d)(e)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; StoneX Group Inc., Secured Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 3/1/31 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 964565<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Senior Notes (9.016% to 11/15/32 then SOFR + 5.020%) | &nbsp;&nbsp; 9.016% | &nbsp;&nbsp; 11/15/33 | &nbsp;&nbsp; 720000<br>| &nbsp;&nbsp;&nbsp; 905263<br> <sup>(a)(f)</sup><br>|
| *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *3658636* |
| *Consumer Finance — 0.7%* | *Consumer Finance — 0.7%* | *Consumer Finance — 0.7%* | *Consumer Finance — 0.7%* | *Consumer Finance — 0.7%* |
| &nbsp;&nbsp;&nbsp; FirstCash Inc., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 2380000<br>| &nbsp;&nbsp;&nbsp; 2391705<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Midcap Financial Issuer Trust, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 5/1/28 | &nbsp;&nbsp; 1180000<br>| &nbsp;&nbsp;&nbsp; 1159845<br> <sup>(a)</sup><br>|
| *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | &nbsp;&nbsp; *3551550* |
| *Financial Services — 3.3%* | *Financial Services — 3.3%* | *Financial Services — 3.3%* | *Financial Services — 3.3%* | *Financial Services — 3.3%* |
| &nbsp;&nbsp;&nbsp; Block Inc., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 8/15/30 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1218881<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Financial Services — continued* | *Financial Services — continued* | *Financial Services — continued* | *Financial Services — continued* | *Financial Services — continued* |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC, Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 3330000<br>| &nbsp;&nbsp;&nbsp; $3540223<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 870000<br>| &nbsp;&nbsp;&nbsp; 866318<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Capstone Borrower Inc., Senior Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 531067<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 641860<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 4/30/31 | &nbsp;&nbsp; 1690000<br>| &nbsp;&nbsp;&nbsp; 1774759<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 5/1/33 | &nbsp;&nbsp; 60000<br>| &nbsp;&nbsp;&nbsp; 62636<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCR Atleos Corp., Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 1350000<br>| &nbsp;&nbsp;&nbsp; 1458857<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rocket Cos. Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 1300000<br>| &nbsp;&nbsp;&nbsp; 1341799<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SGUS LLC, Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 894518<br>| &nbsp;&nbsp;&nbsp; 776003<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior <br> Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 3700000<br>| &nbsp;&nbsp;&nbsp; 3850457<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior <br> Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 966682<br> <sup>(a)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *17029542* |
| *Insurance — 0.7%* | *Insurance — 0.7%* | *Insurance — 0.7%* | *Insurance — 0.7%* | *Insurance — 0.7%* |
| &nbsp;&nbsp;&nbsp; Acrisure LLC/Acrisure Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp; 470000<br>| &nbsp;&nbsp;&nbsp; 482328<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 <br> Somerset Investor 2 LLC, Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 2440000<br>| &nbsp;&nbsp;&nbsp; 2515103<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ryan Specialty LLC, Senior Secured Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 8/1/32 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 763186<br> <sup>(a)</sup><br>|
| *Total Insurance* | *Total Insurance* | *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *3760617* |
| *Mortgage Real Estate Investment Trusts (REITs) — 1.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 1.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 1.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 1.8%* | *Mortgage Real Estate Investment Trusts (REITs) — 1.8%* |
| &nbsp;&nbsp;&nbsp; Apollo Commercial Real Estate Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 470000<br>| &nbsp;&nbsp;&nbsp; 452753<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Arbor Realty SR Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp; 1160000<br>| &nbsp;&nbsp;&nbsp; 1180767<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., <br> Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 2710000<br>| &nbsp;&nbsp;&nbsp; 2659430<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starwood Property Trust Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 2890000<br>| &nbsp;&nbsp;&nbsp; 3047401<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starwood Property Trust Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 1970000<br>| &nbsp;&nbsp;&nbsp; 2015836<br> <sup>(a)</sup><br>|
| *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | &nbsp;&nbsp; *9356187* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **48076937** |
| **Health Care — 6.8%** | **Health Care — 6.8%** | **Health Care — 6.8%** | **Health Care — 6.8%** | **Health Care — 6.8%** |
| *Health Care Equipment & Supplies — 0.4%* | *Health Care Equipment & Supplies — 0.4%* | *Health Care Equipment & Supplies — 0.4%* | *Health Care Equipment & Supplies — 0.4%* | *Health Care Equipment & Supplies — 0.4%* |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP/Medline Co-Issuer Inc., Senior Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 2330000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *2399907*<br> <sup>(a)</sup><br>|
| *Health Care Providers & Services — 4.0%* | *Health Care Providers & Services — 4.0%* | *Health Care Providers & Services — 4.0%* | *Health Care Providers & Services — 4.0%* | *Health Care Providers & Services — 4.0%* |
| &nbsp;&nbsp;&nbsp; Akumin Inc., Senior Secured Notes (8.000% Cash or 9.000% PIK) | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 8/1/27 | &nbsp;&nbsp; 1310000<br>| &nbsp;&nbsp;&nbsp; 1223460<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 1220000<br>| &nbsp;&nbsp;&nbsp; 1107284<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 2890000<br>| &nbsp;&nbsp;&nbsp; 2863354<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 1110000<br>| &nbsp;&nbsp;&nbsp; 992003<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 10.875% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 4830000<br>| &nbsp;&nbsp;&nbsp; 5212923<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 8/15/30 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1080863<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 4650000<br>| &nbsp;&nbsp;&nbsp; 5132914<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings LLC, Senior Secured Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp; 2400000<br>| &nbsp;&nbsp;&nbsp; 2525165<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Renal Care Inc., Senior Secured Notes | &nbsp;&nbsp; 10.625% | &nbsp;&nbsp; 6/28/28 | &nbsp;&nbsp; 693000<br>| &nbsp;&nbsp;&nbsp; 606375<br> <sup>(a)</sup><br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *20744341* |
| *Pharmaceuticals — 2.4%* | *Pharmaceuticals — 2.4%* | *Pharmaceuticals — 2.4%* | *Pharmaceuticals — 2.4%* | *Pharmaceuticals — 2.4%* |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd., Senior Secured Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 4/15/32 | &nbsp;&nbsp; 2580000<br>| &nbsp;&nbsp;&nbsp; 2699388<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 1820000<br>| &nbsp;&nbsp;&nbsp; 1494675<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Pharmaceuticals — continued* | *Pharmaceuticals — continued* | *Pharmaceuticals — continued* | *Pharmaceuticals — continued* | *Pharmaceuticals — continued* |
| &nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 1/30/30 | &nbsp;&nbsp; 655000<br>| &nbsp;&nbsp;&nbsp; $472419<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Par Pharmaceutical Inc., Escrow | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1580000<br>| &nbsp;&nbsp;&nbsp; 0<br> \*<sup>(d)(e)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 5/9/27 | &nbsp;&nbsp; 2779000<br>| &nbsp;&nbsp;&nbsp; 2782008<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/1/28 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 259813<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 9/15/29 | &nbsp;&nbsp; 2540000<br>| &nbsp;&nbsp;&nbsp; 2780401<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1147492<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands IV BV, Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 830000<br>| &nbsp;&nbsp;&nbsp; 858797<br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *12494993* |
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **35639241** |
| **Industrials — 13.6%** | **Industrials — 13.6%** | **Industrials — 13.6%** | **Industrials — 13.6%** | **Industrials — 13.6%** |
| *Aerospace & Defense — 2.5%* | *Aerospace & Defense — 2.5%* | *Aerospace & Defense — 2.5%* | *Aerospace & Defense — 2.5%* | *Aerospace & Defense — 2.5%* |
| &nbsp;&nbsp;&nbsp; AAR Escrow Issuer LLC, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 1940000<br>| &nbsp;&nbsp;&nbsp; 2004418<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Axon Enterprise Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 3/15/30 | &nbsp;&nbsp; 490000<br>| &nbsp;&nbsp;&nbsp; 504474<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Axon Enterprise Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 259026<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 385720<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 11/15/30 | &nbsp;&nbsp; 4000000<br>| &nbsp;&nbsp;&nbsp; 4319008<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 2200000<br>| &nbsp;&nbsp;&nbsp; 2337874<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 1210000<br>| &nbsp;&nbsp;&nbsp; 1235382<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 130000<br>| &nbsp;&nbsp;&nbsp; 133696<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 12/15/30 | &nbsp;&nbsp; 1250000<br>| &nbsp;&nbsp;&nbsp; 1298904<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 12/1/31 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 731161<br> <sup>(a)</sup><br>|
| *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | &nbsp;&nbsp; *13209663* |
| *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* | *Building Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; Quikrete Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 1790000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1857970*<br> <sup>(a)</sup><br>|
| *Commercial Services & Supplies — 3.5%* | *Commercial Services & Supplies — 3.5%* | *Commercial Services & Supplies — 3.5%* | *Commercial Services & Supplies — 3.5%* | *Commercial Services & Supplies — 3.5%* |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal Finance Corp./Atlas Luxco 4 <br> Sarl, Senior Secured Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 1470000<br>| &nbsp;&nbsp;&nbsp; 1440782<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CoreCivic Inc., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 4230000<br>| &nbsp;&nbsp;&nbsp; 4466648<br>|
| &nbsp;&nbsp;&nbsp; GEO Group Inc., Senior Notes | &nbsp;&nbsp; 10.250% | &nbsp;&nbsp; 4/15/31 | &nbsp;&nbsp; 4400000<br>| &nbsp;&nbsp;&nbsp; 4822347<br>|
| &nbsp;&nbsp;&nbsp; GFL Environmental Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 2300000<br>| &nbsp;&nbsp;&nbsp; 2408965<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC, Senior Secured Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 6/30/28 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 293959<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RB Global Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/28 | &nbsp;&nbsp; 1330000<br>| &nbsp;&nbsp;&nbsp; 1359668<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co., Secured Notes | &nbsp;&nbsp; 10.875% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 2220000<br>| &nbsp;&nbsp;&nbsp; 2233931<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co., Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 1090000<br>| &nbsp;&nbsp;&nbsp; 1118525<br> <sup>(a)</sup><br>|
| *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | &nbsp;&nbsp; *18144825* |
| *Construction & Engineering — 1.0%* | *Construction & Engineering — 1.0%* | *Construction & Engineering — 1.0%* | *Construction & Engineering — 1.0%* | *Construction & Engineering — 1.0%* |
| &nbsp;&nbsp;&nbsp; Empire Communities Corp., Senior Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 2520000<br>| &nbsp;&nbsp;&nbsp; 2579900<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp., Senior Notes | &nbsp;&nbsp; 11.875% | &nbsp;&nbsp; 4/30/29 | &nbsp;&nbsp; 2210000<br>| &nbsp;&nbsp;&nbsp; 2468171<br> <sup>(a)</sup><br>|
| *Total Construction & Engineering* | *Total Construction & Engineering* | *Total Construction & Engineering* | *Total Construction & Engineering* | &nbsp;&nbsp; *5048071* |
| *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* |
| &nbsp;&nbsp;&nbsp; Gates Corp., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *706833*<br> <sup>(a)</sup><br>|
| *Ground Transportation — 0.8%* | *Ground Transportation — 0.8%* | *Ground Transportation — 0.8%* | *Ground Transportation — 0.8%* | *Ground Transportation — 0.8%* |
| &nbsp;&nbsp;&nbsp; Carriage Purchaser Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 10/15/29 | &nbsp;&nbsp; 2610000<br>| &nbsp;&nbsp;&nbsp; 2444634<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; RXO Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 11/15/27 | &nbsp;&nbsp; 1480000<br>| &nbsp;&nbsp;&nbsp; 1512242<br> <sup>(a)</sup><br>|
| *Total Ground Transportation* | *Total Ground Transportation* | *Total Ground Transportation* | *Total Ground Transportation* | &nbsp;&nbsp; *3956876* |

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Machinery — 1.3%* | *Machinery — 1.3%* | *Machinery — 1.3%* | *Machinery — 1.3%* | *Machinery — 1.3%* |
| &nbsp;&nbsp;&nbsp; Esab Corp., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 2210000<br>| &nbsp;&nbsp;&nbsp; $2264397<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Park-Ohio Industries Inc., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 1260000<br>| &nbsp;&nbsp;&nbsp; 1287228<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Titan International Inc., Senior Secured Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 4/30/28 | &nbsp;&nbsp; 1830000<br>| &nbsp;&nbsp;&nbsp; 1835574<br>|
| &nbsp;&nbsp;&nbsp; Vertiv Group Corp., Senior Secured Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 11/15/28 | &nbsp;&nbsp; 1300000<br>| &nbsp;&nbsp;&nbsp; 1281949<br> <sup>(a)</sup><br>|
| *Total Machinery* | *Total Machinery* | *Total Machinery* | *Total Machinery* | &nbsp;&nbsp; *6669148* |
| *Passenger Airlines — 2.8%* | *Passenger Airlines — 2.8%* | *Passenger Airlines — 2.8%* | *Passenger Airlines — 2.8%* | *Passenger Airlines — 2.8%* |
| &nbsp;&nbsp;&nbsp; Air Canada, Senior Secured Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 8/15/26 | &nbsp;&nbsp; 1170000<br>| &nbsp;&nbsp;&nbsp; 1161750<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; American Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 950000<br>| &nbsp;&nbsp;&nbsp; 972631<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; American Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 5590000<br>| &nbsp;&nbsp;&nbsp; 5835440<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 4/20/29 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; 292776<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp./JetBlue Loyalty LP, Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 9/20/31 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 806777<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 3/12/30 | &nbsp;&nbsp; 2075088<br>| &nbsp;&nbsp;&nbsp; 1,104,984<br> \*<sup>(a)(i)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 4500000<br>| &nbsp;&nbsp;&nbsp; 4459706<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Airlines Pass-Through Trust | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 1/15/26 | &nbsp;&nbsp; 119145<br>| &nbsp;&nbsp;&nbsp; 119173<br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *14753237* |
| *Trading Companies & Distributors — 1.3%* | *Trading Companies & Distributors — 1.3%* | *Trading Companies & Distributors — 1.3%* | *Trading Companies & Distributors — 1.3%* | *Trading Companies & Distributors — 1.3%* |
| &nbsp;&nbsp;&nbsp; Herc Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 942605<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Herc Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 6/15/33 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 949561<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Rentals North America Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 2310000<br>| &nbsp;&nbsp;&nbsp; 2327935<br>|
| &nbsp;&nbsp;&nbsp; United Rentals North America Inc., Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 2500000<br>| &nbsp;&nbsp;&nbsp; 2567838<br> <sup>(a)</sup><br>|
| *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | &nbsp;&nbsp; *6787939* |
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **71134562** |
| **Information Technology — 3.9%** | **Information Technology — 3.9%** | **Information Technology — 3.9%** | **Information Technology — 3.9%** | **Information Technology — 3.9%** |
| *Communications Equipment — 0.8%* | *Communications Equipment — 0.8%* | *Communications Equipment — 0.8%* | *Communications Equipment — 0.8%* | *Communications Equipment — 0.8%* |
| &nbsp;&nbsp;&nbsp; CommScope LLC, Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 9/1/29 | &nbsp;&nbsp; 1604000<br>| &nbsp;&nbsp;&nbsp; 1600341<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CommScope LLC, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 12/15/31 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp; 214177<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/15/29 | &nbsp;&nbsp; 1090000<br>| &nbsp;&nbsp;&nbsp; 1155579<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viasat Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 5/30/31 | &nbsp;&nbsp; 1380000<br>| &nbsp;&nbsp;&nbsp; 1296634<br> <sup>(a)</sup><br>|
| *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | &nbsp;&nbsp; *4266731* |
| *Electronic Equipment, Instruments & Components — 0.6%* | *Electronic Equipment, Instruments & Components — 0.6%* | *Electronic Equipment, Instruments & Components — 0.6%* | *Electronic Equipment, Instruments & Components — 0.6%* | *Electronic Equipment, Instruments & Components — 0.6%* |
| &nbsp;&nbsp;&nbsp; EquipmentShare.com Inc., Secured Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 5/15/28 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 615362<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EquipmentShare.com Inc., Secured Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 5/15/32 | &nbsp;&nbsp; 2300000<br>| &nbsp;&nbsp;&nbsp; 2323991<br> <sup>(a)</sup><br>|
| *Total Electronic Equipment, Instruments & Components* | *Total Electronic Equipment, Instruments & Components* | *Total Electronic Equipment, Instruments & Components* | *Total Electronic Equipment, Instruments & Components* | &nbsp;&nbsp; *2939353* |
| *IT Services — 0.3%* | *IT Services — 0.3%* | *IT Services — 0.3%* | *IT Services — 0.3%* | *IT Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; CoreWeave Inc., Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 6/1/30 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 616772<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CoreWeave Inc., Senior Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 2/1/31 | &nbsp;&nbsp; 1080000<br>| &nbsp;&nbsp;&nbsp; 1084509<br> <sup>(a)</sup><br>|
| *Total IT Services* | *Total IT Services* | *Total IT Services* | *Total IT Services* | &nbsp;&nbsp; *1701281* |
| *Semiconductors & Semiconductor Equipment — 0.2%* | *Semiconductors & Semiconductor Equipment — 0.2%* | *Semiconductors & Semiconductor Equipment — 0.2%* | *Semiconductors & Semiconductor Equipment — 0.2%* | *Semiconductors & Semiconductor Equipment — 0.2%* |
| &nbsp;&nbsp;&nbsp; Qnity Electronics Inc., Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 1210000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1232848*<br> <sup>(a)</sup><br>|
| *Software — 1.5%* | *Software — 1.5%* | *Software — 1.5%* | *Software — 1.5%* | *Software — 1.5%* |
| &nbsp;&nbsp;&nbsp; Citrix Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 12/1/27 | &nbsp;&nbsp; 1790000<br>| &nbsp;&nbsp;&nbsp; 1740814<br>|
| &nbsp;&nbsp;&nbsp; Cloud Software Group Inc., Secured Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/30/29 | &nbsp;&nbsp; 2060000<br>| &nbsp;&nbsp;&nbsp; 2132502<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cloud Software Group Inc., Senior Secured Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 3/31/29 | &nbsp;&nbsp; 1700000<br>| &nbsp;&nbsp;&nbsp; 1713894<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cloud Software Group Inc., Senior Secured Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 880000<br>| &nbsp;&nbsp;&nbsp; 882834<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gen Digital Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 9/30/27 | &nbsp;&nbsp; 1130000<br>| &nbsp;&nbsp;&nbsp; 1148451<br> <sup>(a)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *7618495* |

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Technology Hardware, Storage & Peripherals — 0.5%* | *Technology Hardware, Storage & Peripherals — 0.5%* | *Technology Hardware, Storage & Peripherals — 0.5%* | *Technology Hardware, Storage & Peripherals — 0.5%* | *Technology Hardware, Storage & Peripherals — 0.5%* |
| &nbsp;&nbsp;&nbsp; CA Magnum Holdings, Senior Secured Notes | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 10/31/26 | &nbsp;&nbsp; 840000<br>| &nbsp;&nbsp;&nbsp; $836693<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Diebold Nixdorf Inc., Senior Secured Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 3/31/30 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 827933<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Seagate Data Storage Technology Pte Ltd., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 647042<br> <sup>(a)</sup><br>|
| *Total Technology Hardware, Storage & Peripherals* | *Total Technology Hardware, Storage & Peripherals* | *Total Technology Hardware, Storage & Peripherals* | *Total Technology Hardware, Storage & Peripherals* | &nbsp;&nbsp; *2311668* |
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **20070376** |
| **Materials — 3.2%** | **Materials — 3.2%** | **Materials — 3.2%** | **Materials — 3.2%** | **Materials — 3.2%** |
| *Chemicals — 0.2%* | *Chemicals — 0.2%* | *Chemicals — 0.2%* | *Chemicals — 0.2%* | *Chemicals — 0.2%* |
| &nbsp;&nbsp;&nbsp; Celanese US Holdings LLC, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; *1190730*<br>|
| *Construction Materials — 0.1%* | *Construction Materials — 0.1%* | *Construction Materials — 0.1%* | *Construction Materials — 0.1%* | *Construction Materials — 0.1%* |
| &nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete LLC, Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 11/1/28 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *389011*<br> <sup>(a)</sup><br>|
| *Containers & Packaging — 0.5%* | *Containers & Packaging — 0.5%* | *Containers & Packaging — 0.5%* | *Containers & Packaging — 0.5%* | *Containers & Packaging — 0.5%* |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging <br> Finance PLC, Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp; 1630000<br>| &nbsp;&nbsp;&nbsp; 1635229<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging <br> Finance PLC, Senior Secured Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 9/1/28 | &nbsp;&nbsp; 830000<br>| &nbsp;&nbsp;&nbsp; 792509<br> <sup>(a)</sup><br>|
| *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | &nbsp;&nbsp; *2427738* |
| *Metals & Mining — 2.4%* | *Metals & Mining — 2.4%* | *Metals & Mining — 2.4%* | *Metals & Mining — 2.4%* | *Metals & Mining — 2.4%* |
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 5080000<br>| &nbsp;&nbsp;&nbsp; 5381605<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp; 4660000<br>| &nbsp;&nbsp;&nbsp; 4886224<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Hudbay Minerals Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 2340000<br>| &nbsp;&nbsp;&nbsp; 2371106<br> <sup>(a)</sup><br>|
| *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | &nbsp;&nbsp; *12638935* |
| *Paper & Forest Products — 0.0%††* | *Paper & Forest Products — 0.0%††* | *Paper & Forest Products — 0.0%††* | *Paper & Forest Products — 0.0%††* | *Paper & Forest Products — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Mercer International Inc., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; *278464*<br>|
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **16924878** |
| **Real Estate — 2.3%** | **Real Estate — 2.3%** | **Real Estate — 2.3%** | **Real Estate — 2.3%** | **Real Estate — 2.3%** |
| *Diversified REITs — 0.8%* | *Diversified REITs — 0.8%* | *Diversified REITs — 0.8%* | *Diversified REITs — 0.8%* | *Diversified REITs — 0.8%* |
| &nbsp;&nbsp;&nbsp; IIP Operating Partnership LP, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 5/25/26 | &nbsp;&nbsp; 1480000<br>| &nbsp;&nbsp;&nbsp; 1462658<br>|
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 1770000<br>| &nbsp;&nbsp;&nbsp; 1704377<br>|
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Notes | &nbsp;&nbsp; 3.692% | &nbsp;&nbsp; 6/5/28 | &nbsp;&nbsp; 290000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 323483<br>|
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 246000<br>| &nbsp;&nbsp;&nbsp; 201417<br>|
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 2/15/32 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 639681<br> <sup>(a)</sup><br>|
| *Total Diversified REITs* | *Total Diversified REITs* | *Total Diversified REITs* | *Total Diversified REITs* | &nbsp;&nbsp; *4331616* |
| *Health Care REITs — 0.3%* | *Health Care REITs — 0.3%* | *Health Care REITs — 0.3%* | *Health Care REITs — 0.3%* | *Health Care REITs — 0.3%* |
| &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust, Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; 410623<br>|
| &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust, Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp; 1041622<br> <sup>(a)</sup><br>|
| *Total Health Care REITs* | *Total Health Care REITs* | *Total Health Care REITs* | *Total Health Care REITs* | &nbsp;&nbsp; *1452245* |
| *Hotel & Resort REITs — 0.4%* | *Hotel & Resort REITs — 0.4%* | *Hotel & Resort REITs — 0.4%* | *Hotel & Resort REITs — 0.4%* | *Hotel & Resort REITs — 0.4%* |
| &nbsp;&nbsp;&nbsp; Service Properties Trust, Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 2450000<br>| &nbsp;&nbsp;&nbsp; *2436117*<br>|
| *Real Estate Management & Development — 0.3%* | *Real Estate Management & Development — 0.3%* | *Real Estate Management & Development — 0.3%* | *Real Estate Management & Development — 0.3%* | *Real Estate Management & Development — 0.3%* |
| &nbsp;&nbsp;&nbsp; Five Point Operating Co. LP, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1390954*<br> <sup>(a)</sup><br>|
| *Specialized REITs — 0.5%* | *Specialized REITs — 0.5%* | *Specialized REITs — 0.5%* | *Specialized REITs — 0.5%* | *Specialized REITs — 0.5%* |
| &nbsp;&nbsp;&nbsp; Millrose Properties Inc., Senior Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 1950000<br>| &nbsp;&nbsp;&nbsp; 1977086<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Millrose Properties Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 9/15/32 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 573232<br> <sup>(a)</sup><br>|
| *Total Specialized REITs* | *Total Specialized REITs* | *Total Specialized REITs* | *Total Specialized REITs* | &nbsp;&nbsp; *2550318* |
| **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **12161250** |

---

See Notes to Schedule of Investments.

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Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Utilities — 1.4%** | **Utilities — 1.4%** | **Utilities — 1.4%** | **Utilities — 1.4%** | **Utilities — 1.4%** |
| *Electric Utilities — 1.2%* | *Electric Utilities — 1.2%* | *Electric Utilities — 1.2%* | *Electric Utilities — 1.2%* | *Electric Utilities — 1.2%* |
| &nbsp;&nbsp;&nbsp; NRG Energy Inc., Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 2740000<br>| &nbsp;&nbsp;&nbsp; $2761127<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/32 | &nbsp;&nbsp; 3200000<br>| &nbsp;&nbsp;&nbsp; 3363539<br> <sup>(a)</sup><br>|
| *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | &nbsp;&nbsp; *6124666* |
| *Independent Power and Renewable Electricity Producers — 0.2%* | *Independent Power and Renewable Electricity Producers — 0.2%* | *Independent Power and Renewable Electricity Producers — 0.2%* | *Independent Power and Renewable Electricity Producers — 0.2%* | *Independent Power and Renewable Electricity Producers — 0.2%* |
| &nbsp;&nbsp;&nbsp; VoltaGrid LLC, Secured Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 11/1/30 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1048207*<br> <sup>(a)(j)</sup><br>|
| **Total Utilities** | **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **7172873** |
| **Total Corporate Bonds & Notes (Cost — $392,250,836)** | **Total Corporate Bonds & Notes (Cost — $392,250,836)** | **Total Corporate Bonds & Notes (Cost — $392,250,836)** | **Total Corporate Bonds & Notes (Cost — $392,250,836)** | &nbsp;&nbsp; **398316510** |
| **Senior Loans — 9.5%** | **Senior Loans — 9.5%** | **Senior Loans — 9.5%** | **Senior Loans — 9.5%** | **Senior Loans — 9.5%** |
| **Communication Services — 1.9%** | **Communication Services — 1.9%** | **Communication Services — 1.9%** | **Communication Services — 1.9%** | **Communication Services — 1.9%** |
| *Diversified Telecommunication Services — 0.3%* | *Diversified Telecommunication Services — 0.3%* | *Diversified Telecommunication Services — 0.3%* | *Diversified Telecommunication Services — 0.3%* | *Diversified Telecommunication Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; QualityTech LP, Term Loan (1 mo. Term SOFR + 3.500%)  | 7.606% | &nbsp;&nbsp; 11/4/31 | &nbsp;&nbsp; 1532300<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1538046*<br> <sup>(e)(f)(k)(l)</sup><br>|
| *Entertainment — 0.2%* | *Entertainment — 0.2%* | *Entertainment — 0.2%* | *Entertainment — 0.2%* | *Entertainment — 0.2%* |
| &nbsp;&nbsp;&nbsp; UFC Holdings LLC, Term Loan B5 (3 mo. Term SOFR + 2.000%)  | 6.038% | &nbsp;&nbsp; 11/21/31 | &nbsp;&nbsp; 1276800<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1281097*<br> <sup>(f)(k)(l)</sup><br>|
| *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* | *Interactive Media & Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan B1 (6 mo. Term SOFR + 6.750%) | 10.448% | &nbsp;&nbsp; 10/26/29 | &nbsp;&nbsp; 288517<br>| &nbsp;&nbsp;&nbsp; 281664<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan B3 | 9.500% | &nbsp;&nbsp; 10/26/29 | &nbsp;&nbsp; 1660000<br>| &nbsp;&nbsp;&nbsp; 1667263<br> <sup>(k)(l)</sup><br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *1948927* |
| *Media — 1.0%* | *Media — 1.0%* | *Media — 1.0%* | *Media — 1.0%* | *Media — 1.0%* |
| &nbsp;&nbsp;&nbsp; CB Poly US Holdings Inc., Initial Term Loan (3 mo. Term SOFR + 5.500%) | 9.502% | &nbsp;&nbsp; 5/18/29 | &nbsp;&nbsp; 1571400<br>| &nbsp;&nbsp;&nbsp; 1427169<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Diamond Sports Net LLC, First Lien Exit Term Loan (15.000% PIK) | 15.000% | &nbsp;&nbsp; 1/2/28 | &nbsp;&nbsp; 2005750<br>| &nbsp;&nbsp;&nbsp; 1534399<br> <sup>(b)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Learfield Communications LLC, 2024 Term Loan B (1 mo. Term SOFR + <br> 4.750%) | 8.715% | &nbsp;&nbsp; 6/30/28 | &nbsp;&nbsp; 1257696<br>| &nbsp;&nbsp;&nbsp; 1269883<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Versant Media Group Inc., 2025 First Lien Term Loan B |  | &nbsp;&nbsp; 10/23/30 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 967982<br> <sup>(m)</sup><br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *5199433* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **9967503** |
| **Consumer Discretionary — 2.1%** | **Consumer Discretionary — 2.1%** | **Consumer Discretionary — 2.1%** | **Consumer Discretionary — 2.1%** | **Consumer Discretionary — 2.1%** |
| *Automobile Components — 0.4%* | *Automobile Components — 0.4%* | *Automobile Components — 0.4%* | *Automobile Components — 0.4%* | *Automobile Components — 0.4%* |
| &nbsp;&nbsp;&nbsp; ABC Technologies Inc., Term Loan B (1 mo. Term SOFR + 8.250%) | 12.215% | &nbsp;&nbsp; 1/2/40 | &nbsp;&nbsp; 1680000<br>| &nbsp;&nbsp;&nbsp; 1617000<br> <sup>(d)(e)(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Brands Group LLC, 2021 First Lien Term Loan (3 mo. Term SOFR + <br> 5.262%) | 9.570% | &nbsp;&nbsp; 3/30/27 | &nbsp;&nbsp; 1337600<br>| &nbsp;&nbsp;&nbsp; 445421<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Brands Group LLC, USD Term Loan |  | &nbsp;&nbsp; 6/29/26 | &nbsp;&nbsp; 123142<br>| &nbsp;&nbsp;&nbsp; 130992<br> <sup>(m)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *2193413* |
| *Diversified Consumer Services — 0.1%* | *Diversified Consumer Services — 0.1%* | *Diversified Consumer Services — 0.1%* | *Diversified Consumer Services — 0.1%* | *Diversified Consumer Services — 0.1%* |
| &nbsp;&nbsp;&nbsp; WW International Inc., Take-Back Term Loan (3 mo. Term SOFR + <br> 6.800%)  | 10.803% | &nbsp;&nbsp; 6/25/30 | &nbsp;&nbsp; 735798<br>| &nbsp;&nbsp;&nbsp;&nbsp; *657008*<br> <sup>(f)(k)(l)</sup><br>|
| *Hotels, Restaurants & Leisure — 1.1%* | *Hotels, Restaurants & Leisure — 1.1%* | *Hotels, Restaurants & Leisure — 1.1%* | *Hotels, Restaurants & Leisure — 1.1%* | *Hotels, Restaurants & Leisure — 1.1%* |
| &nbsp;&nbsp;&nbsp; Catawba Nation Gaming Authority, Initial Term Loan B (1 mo. Term SOFR <br> + 4.750%) | 8.715% | &nbsp;&nbsp; 3/28/32 | &nbsp;&nbsp; 1760000<br>| &nbsp;&nbsp;&nbsp; 1801255<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Flutter Entertainment Public Ltd. Co., Third Incremental Term Loan B (3 <br> mo. Term SOFR + 2.000%) | 6.002% | &nbsp;&nbsp; 6/4/32 | &nbsp;&nbsp; 2952600<br>| &nbsp;&nbsp;&nbsp; 2942753<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Peninsula Pacific Entertainment LLC, Closing Date Term Loan Facility B <br> (3 mo. Term SOFR + 4.750%) | 8.735% | &nbsp;&nbsp; 10/1/32 | &nbsp;&nbsp; 912083<br>| &nbsp;&nbsp;&nbsp; 913223<br> <sup>(e)(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Peninsula Pacific Entertainment LLC, Delayed Draw Term Loan Facility B |  | &nbsp;&nbsp; 10/1/32 | &nbsp;&nbsp; 213917<br>| &nbsp;&nbsp;&nbsp; 214184<br> <sup>(e)(n)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *5871415* |

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Specialty Retail — 0.5%* | *Specialty Retail — 0.5%* | *Specialty Retail — 0.5%* | *Specialty Retail — 0.5%* | *Specialty Retail — 0.5%* |
| &nbsp;&nbsp;&nbsp; Petco Health and Wellness Co. Inc., First Lien Initial Term Loan (3 mo. <br> Term SOFR + 3.512%) | 7.513% | &nbsp;&nbsp; 3/3/28 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; $1343068<br> <sup>(f)(k)(l)(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spencer Spirit IH LLC, Initial Term Loan (1 mo. Term SOFR + 4.750%) | 8.834% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 1206251<br>| &nbsp;&nbsp;&nbsp; 1206752<br> <sup>(f)(k)(l)</sup><br>|
| *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *2549820* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **11271656** |
| **Consumer Staples — 0.0%††** | **Consumer Staples — 0.0%††** | **Consumer Staples — 0.0%††** | **Consumer Staples — 0.0%††** | **Consumer Staples — 0.0%††** |
| *Household Products — 0.0%††* | *Household Products — 0.0%††* | *Household Products — 0.0%††* | *Household Products — 0.0%††* | *Household Products — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Knight Health Holdings LLC, Term Loan B (1 mo. Term SOFR + 5.364%)  | 9.329% | &nbsp;&nbsp; 12/23/28 | &nbsp;&nbsp; 187263<br>| &nbsp;&nbsp;&nbsp;&nbsp; **61952**<br> <sup>(f)(k)(l)</sup><br>|
| **Financials — 0.9%** | **Financials — 0.9%** | **Financials — 0.9%** | **Financials — 0.9%** | **Financials — 0.9%** |
| *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* |
| &nbsp;&nbsp;&nbsp; Blackhawk Network Holdings Inc., Term Loan B (1 mo. Term SOFR + <br> 4.000%)  | 7.965% | &nbsp;&nbsp; 3/12/29 | &nbsp;&nbsp; 898659<br>| &nbsp;&nbsp;&nbsp;&nbsp; *903364*<br> <sup>(f)(k)(l)</sup><br>|
| *Financial Services — 0.4%* | *Financial Services — 0.4%* | *Financial Services — 0.4%* | *Financial Services — 0.4%* | *Financial Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; Nexus Buyer LLC, Amendment No. 10 Term Loan (1 mo. Term SOFR + <br> 4.000%) | 7.965% | &nbsp;&nbsp; 7/31/31 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 331114<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nexus Buyer LLC, Amendment No. 9 Refinancing Term Loan (1 mo. Term <br> SOFR + 3.500%) | 7.465% | &nbsp;&nbsp; 7/31/31 | &nbsp;&nbsp; 1970162<br>| &nbsp;&nbsp;&nbsp; 1960035<br> <sup>(f)(k)(l)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *2291149* |
| *Insurance — 0.3%* | *Insurance — 0.3%* | *Insurance — 0.3%* | *Insurance — 0.3%* | *Insurance — 0.3%* |
| &nbsp;&nbsp;&nbsp; Asurion LLC, New Term Loan B10 (1 mo. Term SOFR + 4.100%)  | 8.065% | &nbsp;&nbsp; 8/19/28 | &nbsp;&nbsp; 1594749<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1598736*<br> <sup>(f)(k)(l)</sup><br>|
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **4793249** |
| **Health Care — 0.8%** | **Health Care — 0.8%** | **Health Care — 0.8%** | **Health Care — 0.8%** | **Health Care — 0.8%** |
| *Health Care Providers & Services — 0.7%* | *Health Care Providers & Services — 0.7%* | *Health Care Providers & Services — 0.7%* | *Health Care Providers & Services — 0.7%* | *Health Care Providers & Services — 0.7%* |
| &nbsp;&nbsp;&nbsp; Aveanna Healthcare LLC, 2025 Term Loan (1 mo. Term SOFR + 3.750%) | 7.715% | &nbsp;&nbsp; 9/13/32 | &nbsp;&nbsp; 740000<br>| &nbsp;&nbsp;&nbsp; 743067<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; EyeCare Partners LLC, Term Loan B (8.580% Cash and 3.610% PIK) | 8.580% | &nbsp;&nbsp; 11/30/28 | &nbsp;&nbsp; 1137983<br>| &nbsp;&nbsp;&nbsp; 673902<br> <sup>(b)(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Global Medical Response Inc., Initial Term Loan (3 mo. Term SOFR + <br> 3.500%) | 7.384% | &nbsp;&nbsp; 10/1/32 | &nbsp;&nbsp; 1270000<br>| &nbsp;&nbsp;&nbsp; 1276846<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Term Loan B | 7.655-7.782% | &nbsp;&nbsp; 5/16/31 | &nbsp;&nbsp; 694576<br>| &nbsp;&nbsp;&nbsp; 695909<br> <sup>(f)(k)(l)</sup><br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *3389724* |
| *Pharmaceuticals — 0.1%* | *Pharmaceuticals — 0.1%* | *Pharmaceuticals — 0.1%* | *Pharmaceuticals — 0.1%* | *Pharmaceuticals — 0.1%* |
| &nbsp;&nbsp;&nbsp; Gainwell Acquisition Corp., Term Loan B (3 mo. Term SOFR + 4.100%)  | 8.102% | &nbsp;&nbsp; 10/1/27 | &nbsp;&nbsp; 746083<br>| &nbsp;&nbsp;&nbsp;&nbsp; *740488*<br> <sup>(f)(k)(l)</sup><br>|
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **4130212** |
| **Industrials — 1.7%** | **Industrials — 1.7%** | **Industrials — 1.7%** | **Industrials — 1.7%** | **Industrials — 1.7%** |
| *Building Products — 0.2%* | *Building Products — 0.2%* | *Building Products — 0.2%* | *Building Products — 0.2%* | *Building Products — 0.2%* |
| &nbsp;&nbsp;&nbsp; HP PHRG Borrower LLC, Closing Date Term Loan (3 mo. Term SOFR + <br> 4.000%)  | 8.002% | &nbsp;&nbsp; 2/20/32 | &nbsp;&nbsp; 997500<br>| &nbsp;&nbsp;&nbsp;&nbsp; *975684*<br> <sup>(f)(k)(l)</sup><br>|
| *Commercial Services & Supplies — 0.9%* | *Commercial Services & Supplies — 0.9%* | *Commercial Services & Supplies — 0.9%* | *Commercial Services & Supplies — 0.9%* | *Commercial Services & Supplies — 0.9%* |
| &nbsp;&nbsp;&nbsp; DS Parent Inc., Term Loan B (3 mo. Term SOFR + 5.500%) | 9.502% | &nbsp;&nbsp; 1/31/31 | &nbsp;&nbsp; 1925625<br>| &nbsp;&nbsp;&nbsp; 1785218<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; LRS Holdings LLC, Term Loan B (1 mo. Term SOFR + 4.364%) | 8.329% | &nbsp;&nbsp; 8/31/28 | &nbsp;&nbsp; 1128637<br>| &nbsp;&nbsp;&nbsp; 1111707<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Thermostat Purchaser III Inc., Initial Term Loan B1 (3 mo. Term SOFR + <br> 4.250%) | 8.252% | &nbsp;&nbsp; 8/31/28 | &nbsp;&nbsp; 1886604<br>| &nbsp;&nbsp;&nbsp; 1889746<br> <sup>(f)(k)(l)</sup><br>|
| *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | &nbsp;&nbsp; *4786671* |
| *Professional Services — 0.5%* | *Professional Services — 0.5%* | *Professional Services — 0.5%* | *Professional Services — 0.5%* | *Professional Services — 0.5%* |
| &nbsp;&nbsp;&nbsp; Dayforce Inc., Term Loan B |  | &nbsp;&nbsp; 10/7/32 | &nbsp;&nbsp; 1630000<br>| &nbsp;&nbsp;&nbsp; 1626504<br> <sup>(m)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ryan LLC, Initial Term Loan (1 mo. Term SOFR + 3.500%) | 7.465% | &nbsp;&nbsp; 11/14/30 | &nbsp;&nbsp; 1074540<br>| &nbsp;&nbsp;&nbsp; 1071854<br> <sup>(f)(k)(l)</sup><br>|
| *Total Professional Services* | *Total Professional Services* | *Total Professional Services* | *Total Professional Services* | &nbsp;&nbsp; *2698358* |

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Trading Companies & Distributors — 0.1%* | *Trading Companies & Distributors — 0.1%* | *Trading Companies & Distributors — 0.1%* | *Trading Companies & Distributors — 0.1%* | *Trading Companies & Distributors — 0.1%* |
| &nbsp;&nbsp;&nbsp; QXO Building Products Inc., Term Loan B (1 mo. Term SOFR + 3.000%)  | 6.965% | &nbsp;&nbsp; 4/30/32 | &nbsp;&nbsp; 305557<br>| &nbsp;&nbsp;&nbsp; $*306452*<br> <sup>(f)(k)(l)</sup><br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **8767165** |
| **Information Technology — 1.6%** | **Information Technology — 1.6%** | **Information Technology — 1.6%** | **Information Technology — 1.6%** | **Information Technology — 1.6%** |
| *Software — 1.6%* | *Software — 1.6%* | *Software — 1.6%* | *Software — 1.6%* | *Software — 1.6%* |
| &nbsp;&nbsp;&nbsp; DCert Buyer Inc., Second Lien Initial Term Loan (1 mo. Term SOFR + <br> 7.000%) | 10.965% | &nbsp;&nbsp; 2/19/29 | &nbsp;&nbsp; 1450000<br>| &nbsp;&nbsp;&nbsp; 1312555<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magenta Security Holdings LLC, First Out Term Loan (3 mo. Term SOFR + <br> 7.010%) | 10.850% | &nbsp;&nbsp; 7/27/28 | &nbsp;&nbsp; 52657<br>| &nbsp;&nbsp;&nbsp; 43080<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Red Planet Borrower LLC, Initial Term Loan (1 mo. Term SOFR + 4.000%) | 7.965% | &nbsp;&nbsp; 9/8/32 | &nbsp;&nbsp; 1170000<br>| &nbsp;&nbsp;&nbsp; 1154398<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starlight Parent LLC, Term Loan (3 mo. Term SOFR + 4.000%) | 8.026% | &nbsp;&nbsp; 4/16/32 | &nbsp;&nbsp; 2680000<br>| &nbsp;&nbsp;&nbsp; 2669963<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; X.Ai Corp., Initial Term Loan | 12.500% | &nbsp;&nbsp; 6/30/28 | &nbsp;&nbsp; 2852850<br>| &nbsp;&nbsp;&nbsp; 2990143<br> <sup>(k)(l)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *8170139* |
| *Technology Hardware, Storage & Peripherals — 0.0%††* | *Technology Hardware, Storage & Peripherals — 0.0%††* | *Technology Hardware, Storage & Peripherals — 0.0%††* | *Technology Hardware, Storage & Peripherals — 0.0%††* | *Technology Hardware, Storage & Peripherals — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Vericast Corp., 2024 Extended Term Loan (6 mo. Term SOFR + 7.750%)  | 11.622% | &nbsp;&nbsp; 6/16/26 | &nbsp;&nbsp; 59150<br>| &nbsp;&nbsp;&nbsp;&nbsp; *57642*<br> <sup>(f)(k)(l)</sup><br>|
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **8227781** |
| **Materials — 0.3%** | **Materials — 0.3%** | **Materials — 0.3%** | **Materials — 0.3%** | **Materials — 0.3%** |
| *Containers & Packaging — 0.1%* | *Containers & Packaging — 0.1%* | *Containers & Packaging — 0.1%* | *Containers & Packaging — 0.1%* | *Containers & Packaging — 0.1%* |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings Inc., 2025 Incremental Closing Date <br> Term Loan B (1 mo. Term SOFR + 3.250%) | 7.215% | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 750369<br>| &nbsp;&nbsp;&nbsp; 749578<br> <sup>(f)(k)(l)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings Inc., Delayed Draw Term Loan |  | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 12750<br>| &nbsp;&nbsp;&nbsp; 12736<br> <sup>(n)</sup><br>|
| *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | &nbsp;&nbsp; *762314* |
| *Metals & Mining — 0.2%* | *Metals & Mining — 0.2%* | *Metals & Mining — 0.2%* | *Metals & Mining — 0.2%* | *Metals & Mining — 0.2%* |
| &nbsp;&nbsp;&nbsp; Arctic Canadian Diamond Co. Ltd., Second Lien Term Loan  | 10.000% | &nbsp;&nbsp; 12/31/27 | &nbsp;&nbsp; 883042<br>| &nbsp;&nbsp;&nbsp;&nbsp; *880354*<br> <sup>(d)(e)(k)(l)</sup><br>|
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **1642668** |
| **Utilities — 0.2%** | **Utilities — 0.2%** | **Utilities — 0.2%** | **Utilities — 0.2%** | **Utilities — 0.2%** |
| *Electric Utilities — 0.2%* | *Electric Utilities — 0.2%* | *Electric Utilities — 0.2%* | *Electric Utilities — 0.2%* | *Electric Utilities — 0.2%* |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC, 2025 First Lien Term Loan B  |  | &nbsp;&nbsp; 10/11/32 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **820513**<br> <sup>(m)</sup><br>|
| **Total Senior Loans (Cost — $51,799,189)** | **Total Senior Loans (Cost — $51,799,189)** | **Total Senior Loans (Cost — $51,799,189)** | **Total Senior Loans (Cost — $51,799,189)** | &nbsp;&nbsp; **49682699** |
| **Asset-Backed Securities — 5.2%** | **Asset-Backed Securities — 5.2%** | **Asset-Backed Securities — 5.2%** | **Asset-Backed Securities — 5.2%** | **Asset-Backed Securities — 5.2%** |
| &nbsp;&nbsp;&nbsp; AGL CLO Ltd., 2021-16A DR (3 mo. Term SOFR + 2.400%) | &nbsp;&nbsp; 6.284% | &nbsp;&nbsp; 1/20/35 | &nbsp;&nbsp; 240000<br>| &nbsp;&nbsp;&nbsp; 238805<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ameriquest Mortgage Securities Inc., Asset-Backed Pass-Through <br> Certificates, 2002-C M1 (1 mo. Term SOFR + 3.489%) | &nbsp;&nbsp; 7.481% | &nbsp;&nbsp; 11/25/32 | &nbsp;&nbsp; 656143<br>| &nbsp;&nbsp;&nbsp; 695296<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apex Credit CLO LLC, 2021-2A CR (3 mo. Term SOFR + 3.750%) | &nbsp;&nbsp; 7.634% | &nbsp;&nbsp; 10/20/34 | &nbsp;&nbsp; 640000<br>| &nbsp;&nbsp;&nbsp; 640284<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apex Credit CLO Ltd., 2019-2A D1NR (3 mo. Term SOFR + 3.500%) | &nbsp;&nbsp; 7.358% | &nbsp;&nbsp; 1/25/38 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1103355<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apex Credit CLO Ltd., 2020-1A DRR (3 mo. Term SOFR + 4.320%) | &nbsp;&nbsp; 8.204% | &nbsp;&nbsp; 4/20/35 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; 561984<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Apidos CLO Ltd., XXXA CR (3 mo. Term SOFR + 3.000%) | &nbsp;&nbsp; 6.884% | &nbsp;&nbsp; 10/18/31 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 755821<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bain Capital Credit CLO Ltd., 2019-1A DR2 (3 mo. Term SOFR + 3.100%) | &nbsp;&nbsp; 6.984% | &nbsp;&nbsp; 4/19/34 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp; 852721<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bain Capital Credit CLO Ltd., 2021-4A D (3 mo. Term SOFR + 3.362%) | &nbsp;&nbsp; 7.246% | &nbsp;&nbsp; 10/20/34 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp; 397412<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bear Mountain Park CLO Ltd., 2022-1A ER (3 mo. Term SOFR + 5.950%) | &nbsp;&nbsp; 9.855% | &nbsp;&nbsp; 7/15/37 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 975669<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Black Diamond CLO Ltd., 2021-1A CR (3 mo. Term SOFR + 3.900%) | &nbsp;&nbsp; 7.757% | &nbsp;&nbsp; 11/22/34 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 990792<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Capital Four US CLO Ltd., 2025-4A D1 (3 mo. Term SOFR + 3.250%) | &nbsp;&nbsp; 7.139% | &nbsp;&nbsp; 10/18/38 | &nbsp;&nbsp; 870000<br>| &nbsp;&nbsp;&nbsp; 870870<br> <sup>(a)(f)(j)</sup><br>|
| &nbsp;&nbsp;&nbsp; CarVal CLO Ltd., 2024-3A D1 (3 mo. Term SOFR + 3.000%) | &nbsp;&nbsp; 6.884% | &nbsp;&nbsp; 10/20/37 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 934078<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; CIFC Funding Ltd., 2021-1A D1R (3 mo. Term SOFR + 3.150%) | &nbsp;&nbsp; 7.008% | &nbsp;&nbsp; 7/25/37 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 503967<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clover CLO LLC, 2021-3A DR (3 mo. Term SOFR + 2.550%) | &nbsp;&nbsp; 6.408% | &nbsp;&nbsp; 1/25/35 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 611537<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dryden CLO Ltd., 2022-113A D1R3 (3 mo. Term SOFR + 3.000%) | &nbsp;&nbsp; 6.905% | &nbsp;&nbsp; 10/15/37 | &nbsp;&nbsp; 870000<br>| &nbsp;&nbsp;&nbsp; 875858<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Greywolf CLO Ltd., 2019-1A CR2 (3 mo. Term SOFR + 3.500%) | &nbsp;&nbsp; 7.382% | &nbsp;&nbsp; 4/17/34 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 501827<br> <sup>(a)(f)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; GSAA Home Equity Trust, 2006-5 2A3 (1 mo. Term SOFR + 0.654%) | &nbsp;&nbsp; 4.646% | &nbsp;&nbsp; 3/25/36 | &nbsp;&nbsp; 1499999<br>| &nbsp;&nbsp;&nbsp; $683981<br> <sup>(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Hartwick Park CLO Ltd., 2023-1A ER (3 mo. Term SOFR + 4.850%) | &nbsp;&nbsp; 8.734% | &nbsp;&nbsp; 1/20/37 | &nbsp;&nbsp; 760000<br>| &nbsp;&nbsp;&nbsp; 753397<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jamestown CLO Ltd., 2016-9A CR3 (3 mo. Term SOFR + 3.250%) | &nbsp;&nbsp; 7.108% | &nbsp;&nbsp; 7/25/34 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 709887<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jamestown CLO Ltd., 2021-17A DR (3 mo. Term SOFR + 3.500%) | &nbsp;&nbsp; 7.358% | &nbsp;&nbsp; 1/25/35 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1103833<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Madison Park Funding Ltd., 2016-24A DR2 (3 mo. Term SOFR + 2.950%) | &nbsp;&nbsp; 6.834% | &nbsp;&nbsp; 10/20/29 | &nbsp;&nbsp; 590000<br>| &nbsp;&nbsp;&nbsp; 592822<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2019-22A DRR (3 mo. Term SOFR + 2.900%) | &nbsp;&nbsp; 6.805% | &nbsp;&nbsp; 7/15/36 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 523404<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnetite Ltd., 2023-39A E1R (3 mo. Term SOFR + 4.900%) | &nbsp;&nbsp; 8.758% | &nbsp;&nbsp; 1/25/37 | &nbsp;&nbsp; 1040000<br>| &nbsp;&nbsp;&nbsp; 1036885<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Marble Point CLO Ltd., 2021-4A D1R (3 mo. Term SOFR + 3.300%) | &nbsp;&nbsp; 7.189% | &nbsp;&nbsp; 1/22/35 | &nbsp;&nbsp; 1250000<br>| &nbsp;&nbsp;&nbsp; 1252997<br> <sup>(a)(f)(j)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mountain View CLO Ltd., 2015-9A CR (3 mo. Term SOFR + 3.382%) | &nbsp;&nbsp; 7.286% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 440000<br>| &nbsp;&nbsp;&nbsp; 441672<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; MVW LLC, 2021-1WA C | &nbsp;&nbsp; 1.940% | &nbsp;&nbsp; 1/22/41 | &nbsp;&nbsp; 176321<br>| &nbsp;&nbsp;&nbsp; 169122<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Mountain CLO Ltd., 5A D1R (3 mo. Term SOFR + 3.150%) | &nbsp;&nbsp; 7.034% | &nbsp;&nbsp; 7/20/36 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 713367<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ocean Trails CLO Ltd., 2022-12A D1R (3 mo. Term SOFR + 3.500%) | &nbsp;&nbsp; 7.384% | &nbsp;&nbsp; 7/20/35 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 554039<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; OHA Credit Funding Ltd., 2022-11A D1R (3 mo. Term SOFR + 2.850%) | &nbsp;&nbsp; 6.734% | &nbsp;&nbsp; 7/19/37 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 713693<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., 2022-3A CR (3 mo. Term SOFR + <br> 3.000%) | &nbsp;&nbsp; 6.905% | &nbsp;&nbsp; 4/15/31 | &nbsp;&nbsp; 730000<br>| &nbsp;&nbsp;&nbsp; 734793<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., 2024-1A C (3 mo. Term SOFR + <br> 2.550%) | &nbsp;&nbsp; 6.455% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 502588<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., 2024-3A C (3 mo. Term SOFR + <br> 2.950%) | &nbsp;&nbsp; 7.184% | &nbsp;&nbsp; 8/8/32 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 905040<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; PPM CLO Ltd., 2025-8A D1 (3 mo. Term SOFR + 3.000%) | &nbsp;&nbsp; 6.884% | &nbsp;&nbsp; 4/20/38 | &nbsp;&nbsp; 1210000<br>| &nbsp;&nbsp;&nbsp; 1216560<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; RR Ltd., 2021-18A DR (3 mo. Term SOFR + 4.900%) | &nbsp;&nbsp; 8.805% | &nbsp;&nbsp; 7/15/40 | &nbsp;&nbsp; 1040000<br>| &nbsp;&nbsp;&nbsp; 1045123<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Trust, 2005-SC1 1A2 | &nbsp;&nbsp; 6.557% | &nbsp;&nbsp; 5/25/31 | &nbsp;&nbsp; 878458<br>| &nbsp;&nbsp;&nbsp; 625930<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Voya CLO Ltd., 2018-2A D (3 mo. Term SOFR + 3.012%) | &nbsp;&nbsp; 6.916% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 940000<br>| &nbsp;&nbsp;&nbsp; 943499<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Voya CLO Ltd., 2020-3A D1RR (3 mo. Term SOFR + 2.700%) | &nbsp;&nbsp; 6.570% | &nbsp;&nbsp; 1/20/38 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 552959<br> <sup>(a)(f)</sup><br>|
| **Total Asset-Backed Securities (Cost — $27,959,130)** | **Total Asset-Backed Securities (Cost — $27,959,130)** | **Total Asset-Backed Securities (Cost — $27,959,130)** | **Total Asset-Backed Securities (Cost — $27,959,130)** | &nbsp;&nbsp; **27285867** |
| **Collateralized Mortgage Obligations**<sup>(o)</sup> **— 4.2%** | **Collateralized Mortgage Obligations**<sup>(o)</sup> **— 4.2%** | **Collateralized Mortgage Obligations**<sup>(o)</sup> **— 4.2%** | **Collateralized Mortgage Obligations**<sup>(o)</sup> **— 4.2%** | **Collateralized Mortgage Obligations**<sup>(o)</sup> **— 4.2%** |
| &nbsp;&nbsp;&nbsp; Banc of America Funding Trust, 2015-R4 2A1 (1 mo. Term SOFR + <br> 0.319%) | &nbsp;&nbsp; 4.642% | &nbsp;&nbsp; 2/25/37 | &nbsp;&nbsp; 28082<br>| &nbsp;&nbsp;&nbsp; 28067<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2019-IMC F (1 mo. Term SOFR + <br> 2.946%) | &nbsp;&nbsp; 6.978% | &nbsp;&nbsp; 4/15/34 | &nbsp;&nbsp; 2450000<br>| &nbsp;&nbsp;&nbsp; 2388363<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2021-VIEW F (1 mo. Term SOFR + 4.044%) | &nbsp;&nbsp; 8.076% | &nbsp;&nbsp; 6/15/36 | &nbsp;&nbsp; 2100000<br>| &nbsp;&nbsp;&nbsp; 2095954<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; CEDR Commercial Mortgage Trust, 2022-SNAI D (1 mo. Term SOFR + <br> 2.376%) | &nbsp;&nbsp; 6.408% | &nbsp;&nbsp; 2/15/39 | &nbsp;&nbsp; 1800000<br>| &nbsp;&nbsp;&nbsp; 1761926<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Eagle RE Ltd., 2023-1 M2 (30 Day Average SOFR + 5.200%) | &nbsp;&nbsp; 9.383% | &nbsp;&nbsp; 9/26/33 | &nbsp;&nbsp; 920000<br>| &nbsp;&nbsp;&nbsp; 978892<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency <br> Credit Risk Trust, 2021-DNA5 B1 (30 Day Average SOFR + 3.050%) | &nbsp;&nbsp; 7.233% | &nbsp;&nbsp; 1/25/34 | &nbsp;&nbsp; 790000<br>| &nbsp;&nbsp;&nbsp; 841599<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency <br> Credit Risk Trust, 2021-DNA5 M2 (30 Day Average SOFR + 1.650%) | &nbsp;&nbsp; 5.833% | &nbsp;&nbsp; 1/25/34 | &nbsp;&nbsp; 39831<br>| &nbsp;&nbsp;&nbsp; 39925<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk <br> Transfer Trust, 2019-1 M | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 7/25/58 | &nbsp;&nbsp; 695889<br>| &nbsp;&nbsp;&nbsp; 681967<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk <br> Transfer Trust, 2020-1 M | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 8/25/59 | &nbsp;&nbsp; 960000<br>| &nbsp;&nbsp;&nbsp; 930745<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk <br> Transfer Trust, 2024-1 M | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/25/63 | &nbsp;&nbsp; 320000<br>| &nbsp;&nbsp;&nbsp; 275943<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2019-R05 1B1 <br> (30 Day Average SOFR + 4.214%) | &nbsp;&nbsp; 8.397% | &nbsp;&nbsp; 7/25/39 | &nbsp;&nbsp; 174589<br>| &nbsp;&nbsp;&nbsp; 178063<br> <sup>(a)(f)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(o)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(o)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(o)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(o)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(o)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2020-R01 1B1 <br> (30 Day Average SOFR + 3.364%) | &nbsp;&nbsp; 7.547% | &nbsp;&nbsp; 1/25/40 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; $266647<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2021-R01 1B1 <br> (30 Day Average SOFR + 3.100%) | &nbsp;&nbsp; 7.283% | &nbsp;&nbsp; 10/25/41 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 530585<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2022-R01 1B1 <br> (30 Day Average SOFR + 3.150%) | &nbsp;&nbsp; 7.333% | &nbsp;&nbsp; 12/25/41 | &nbsp;&nbsp; 100000<br>| &nbsp;&nbsp;&nbsp; 102300<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2022-R05 2B2 <br> (30 Day Average SOFR + 7.000%) | &nbsp;&nbsp; 11.183% | &nbsp;&nbsp; 4/25/42 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 1000682<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2024-R01 1B1 <br> (30 Day Average SOFR + 2.700%) | &nbsp;&nbsp; 6.883% | &nbsp;&nbsp; 1/25/44 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 288371<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2025-R02 1B1 <br> (30 Day Average SOFR + 1.950%) | &nbsp;&nbsp; 6.133% | &nbsp;&nbsp; 2/25/45 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; 271393<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; JPMorgan Chase Commercial Mortgage Securities Trust, 2021-HTL5 F (1 <br> mo. Term SOFR + 4.529%) | &nbsp;&nbsp; 8.562% | &nbsp;&nbsp; 11/15/38 | &nbsp;&nbsp; 2100000<br>| &nbsp;&nbsp;&nbsp; 2112514<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; LHOME Mortgage Trust, 2024-RTL4 M1 | &nbsp;&nbsp; 7.792% | &nbsp;&nbsp; 7/25/39 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; 1217762<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; LHOME Mortgage Trust, 2025-RTL1 M1 | &nbsp;&nbsp; 7.023% | &nbsp;&nbsp; 1/25/40 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp; 688305<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; NYC Commercial Mortgage Trust, 2025-28L F | &nbsp;&nbsp; 8.130% | &nbsp;&nbsp; 11/5/38 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 600386<br> <sup>(a)(f)(j)</sup><br>|
| &nbsp;&nbsp;&nbsp; NYC Commercial Mortgage Trust, 2025-28L G | &nbsp;&nbsp; 9.321% | &nbsp;&nbsp; 11/5/38 | &nbsp;&nbsp; 1400000<br>| &nbsp;&nbsp;&nbsp; 1397304<br> <sup>(a)(f)(j)</sup><br>|
| &nbsp;&nbsp;&nbsp; SMRT, 2022-MINI F (1 mo. Term SOFR + 3.350%) | &nbsp;&nbsp; 7.383% | &nbsp;&nbsp; 1/15/39 | &nbsp;&nbsp; 2050000<br>| &nbsp;&nbsp;&nbsp; 2004694<br> <sup>(a)(f)</sup><br>|
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust, 2023-8 B1 | &nbsp;&nbsp; 8.079% | &nbsp;&nbsp; 12/25/68 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 945631<br> <sup>(a)(f)</sup><br>|
| **Total Collateralized Mortgage Obligations (Cost — $21,504,646)** | **Total Collateralized Mortgage Obligations (Cost — $21,504,646)** | **Total Collateralized Mortgage Obligations (Cost — $21,504,646)** | **Total Collateralized Mortgage Obligations (Cost — $21,504,646)** | &nbsp;&nbsp; **21628018** |
|  |  |  | Shares |  |
| **Investments in Underlying Funds — 1.9%** | **Investments in Underlying Funds — 1.9%** | **Investments in Underlying Funds — 1.9%** | **Investments in Underlying Funds — 1.9%** | **Investments in Underlying Funds — 1.9%** |
| &nbsp;&nbsp;&nbsp; iShares Trust — iShares 0-5 Year High Yield Corporate Bond ETF |  |  | &nbsp;&nbsp; 113400<br>| &nbsp;&nbsp;&nbsp; 4885272<br>|
| &nbsp;&nbsp;&nbsp; SPDR Series Trust — State Street SPDR Bloomberg Short Term High <br> Yield Bond ETF |  |  | &nbsp;&nbsp; 192650<br>| &nbsp;&nbsp;&nbsp; 4901016<br>|
| **Total Investments in Underlying Funds (Cost — $9,731,939)** | **Total Investments in Underlying Funds (Cost — $9,731,939)** | **Total Investments in Underlying Funds (Cost — $9,731,939)** | **Total Investments in Underlying Funds (Cost — $9,731,939)** | &nbsp;&nbsp; **9786288** |
|  | Rate | Maturity <br>Date<br>| Face <br>Amount†<br>|  |
| **Convertible Bonds & Notes — 0.7%** | **Convertible Bonds & Notes — 0.7%** | **Convertible Bonds & Notes — 0.7%** | **Convertible Bonds & Notes — 0.7%** | **Convertible Bonds & Notes — 0.7%** |
| **Communication Services — 0.1%** | **Communication Services — 0.1%** | **Communication Services — 0.1%** | **Communication Services — 0.1%** | **Communication Services — 0.1%** |
| *Media — 0.1%* | *Media — 0.1%* | *Media — 0.1%* | *Media — 0.1%* | *Media — 0.1%* |
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes (3.875% Cash or 3.875% PIK) | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 11/30/30 | &nbsp;&nbsp; 131066<br>| &nbsp;&nbsp;&nbsp;&nbsp; **315377**<br> <sup>(b)</sup><br>|
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |
| *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* |
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | &nbsp;&nbsp; 1.125% | &nbsp;&nbsp; 2/15/27 | &nbsp;&nbsp; 320000<br>| &nbsp;&nbsp;&nbsp; **321920**<br>|
| **Energy — 0.0%††** | **Energy — 0.0%††** | **Energy — 0.0%††** | **Energy — 0.0%††** | **Energy — 0.0%††** |
| *Oil, Gas & Consumable Fuels — 0.0%††* | *Oil, Gas & Consumable Fuels — 0.0%††* | *Oil, Gas & Consumable Fuels — 0.0%††* | *Oil, Gas & Consumable Fuels — 0.0%††* | *Oil, Gas & Consumable Fuels — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Centrus Energy Corp., Senior Notes | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **267038**<br> <sup>(a)</sup><br>|
| **Financials — 0.2%** | **Financials — 0.2%** | **Financials — 0.2%** | **Financials — 0.2%** | **Financials — 0.2%** |
| *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* |
| &nbsp;&nbsp;&nbsp; Two Harbors Investment Corp., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 1/15/26 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; **986040**<br>|
| **Industrials — 0.2%** | **Industrials — 0.2%** | **Industrials — 0.2%** | **Industrials — 0.2%** | **Industrials — 0.2%** |
| *Aerospace & Defense — 0.2%* | *Aerospace & Defense — 0.2%* | *Aerospace & Defense — 0.2%* | *Aerospace & Defense — 0.2%* | *Aerospace & Defense — 0.2%* |
| &nbsp;&nbsp;&nbsp; AeroVironment Inc., Senior Notes | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp; 690000<br>| &nbsp;&nbsp;&nbsp; **965310**<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Information Technology — 0.1%** | **Information Technology — 0.1%** | **Information Technology — 0.1%** | **Information Technology — 0.1%** | **Information Technology — 0.1%** |
| *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* | *Technology Hardware, Storage & Peripherals — 0.1%* |
| &nbsp;&nbsp;&nbsp; Super Micro Computer Inc., Senior Notes | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 783000<br>| &nbsp;&nbsp;&nbsp; **$836048**<br>|
| **Total Convertible Bonds & Notes (Cost — $3,217,411)** | **Total Convertible Bonds & Notes (Cost — $3,217,411)** | **Total Convertible Bonds & Notes (Cost — $3,217,411)** | **Total Convertible Bonds & Notes (Cost — $3,217,411)** | &nbsp;&nbsp; **3691733** |
| **Sovereign Bonds — 0.2%** | **Sovereign Bonds — 0.2%** | **Sovereign Bonds — 0.2%** | **Sovereign Bonds — 0.2%** | **Sovereign Bonds — 0.2%** |
| *Argentina — 0.2%* | *Argentina — 0.2%* | *Argentina — 0.2%* | *Argentina — 0.2%* | *Argentina — 0.2%* |
| &nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond, Senior Notes | &nbsp;&nbsp; 1.000% | &nbsp;&nbsp; 7/9/29 | &nbsp;&nbsp; 99536<br>| &nbsp;&nbsp;&nbsp; 84954<br>|
| &nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond, Senior Notes, Step <br> bond (0.750% to 7/9/27 then 1.750%) | &nbsp;&nbsp; 0.750% | &nbsp;&nbsp; 7/9/30 | &nbsp;&nbsp; 496326<br>| &nbsp;&nbsp;&nbsp; 406987<br>|
| &nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond, Senior Notes, Step <br> bond (4.125% to 7/9/27 then 4.750%) | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 7/9/35 | &nbsp;&nbsp; 953791<br>| &nbsp;&nbsp;&nbsp; 670515<br>|
| **Total Sovereign Bonds (Cost — $1,003,268)** | **Total Sovereign Bonds (Cost — $1,003,268)** | **Total Sovereign Bonds (Cost — $1,003,268)** | **Total Sovereign Bonds (Cost — $1,003,268)** | &nbsp;&nbsp; **1162456** |
|  |  |  | Shares/Units |  |
| **Common Stocks — 0.1%** | **Common Stocks — 0.1%** | **Common Stocks — 0.1%** | **Common Stocks — 0.1%** | **Common Stocks — 0.1%** |
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |
| *Diversified Consumer Services — 0.1%* | *Diversified Consumer Services — 0.1%* | *Diversified Consumer Services — 0.1%* | *Diversified Consumer Services — 0.1%* | *Diversified Consumer Services — 0.1%* |
| &nbsp;&nbsp;&nbsp; WW International Inc. | &nbsp;&nbsp;&nbsp; WW International Inc. |  | &nbsp;&nbsp; 14399 | &nbsp;&nbsp;&nbsp; **501,373**<br> \*<br>|
| **Energy — 0.0%††** | **Energy — 0.0%††** | **Energy — 0.0%††** | **Energy — 0.0%††** | **Energy — 0.0%††** |
| *Oil, Gas & Consumable Fuels — 0.0%††* | *Oil, Gas & Consumable Fuels — 0.0%††* | *Oil, Gas & Consumable Fuels — 0.0%††* | *Oil, Gas & Consumable Fuels — 0.0%††* | *Oil, Gas & Consumable Fuels — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Permian Production Partners LLC | &nbsp;&nbsp;&nbsp; Permian Production Partners LLC |  | &nbsp;&nbsp; 37916 | &nbsp;&nbsp;&nbsp; **0**<br> \*<sup>(d)(e)(h)</sup><br>|
| **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** |
| *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC | &nbsp;&nbsp;&nbsp; Spirit Airlines LLC |  | &nbsp;&nbsp; 466 | &nbsp;&nbsp;&nbsp; 168<br> \*<sup>(d)(p)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Aviation Holdings Inc. | &nbsp;&nbsp;&nbsp; Spirit Aviation Holdings Inc. |  | &nbsp;&nbsp; 80264 | &nbsp;&nbsp;&nbsp; 28,895<br> \*<br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **29063** |
| **Materials — 0.0%††** | **Materials — 0.0%††** | **Materials — 0.0%††** | **Materials — 0.0%††** | **Materials — 0.0%††** |
| *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Arctic Canadian Diamond Co. Ltd. | &nbsp;&nbsp;&nbsp; Arctic Canadian Diamond Co. Ltd. |  | &nbsp;&nbsp; 871 | &nbsp;&nbsp;&nbsp; **12,520**<br> \*<sup>(d)(e)</sup><br>|
| **Total Common Stocks (Cost — $1,809,472)** | **Total Common Stocks (Cost — $1,809,472)** | **Total Common Stocks (Cost — $1,809,472)** | **Total Common Stocks (Cost — $1,809,472)** | &nbsp;&nbsp;&nbsp; **542956**<br>|
|  |  | Expiration <br>Date <br>| Rights |  |
| **Rights — 0.0%††** | **Rights — 0.0%††** | **Rights — 0.0%††** | **Rights — 0.0%††** | **Rights — 0.0%††** |
| **Communication Services — 0.0%††** | **Communication Services — 0.0%††** | **Communication Services — 0.0%††** | **Communication Services — 0.0%††** | **Communication Services — 0.0%††** |
| *Diversified Telecommunication Services — 0.0%††* | *Diversified Telecommunication Services — 0.0%††* | *Diversified Telecommunication Services — 0.0%††* | *Diversified Telecommunication Services — 0.0%††* | *Diversified Telecommunication Services — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Altice France Luxco (Cost — $0) |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 2090 | &nbsp;&nbsp;&nbsp; **31,526**<br> \*<br>|
|  |  |  | Warrants |  |
| **Warrants — 0.0%††** | **Warrants — 0.0%††** | **Warrants — 0.0%††** | **Warrants — 0.0%††** | **Warrants — 0.0%††** |
| **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** |
| *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* | *Passenger Airlines — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Spirit Airlines LLC (Cost — $694,222) |  | &nbsp;&nbsp; 3/12/30 | &nbsp;&nbsp; 57028<br>| &nbsp;&nbsp;&nbsp; **20,530**<br> \*<sup>(a)(d)(p)</sup><br>|
| **Total Investments before Short-Term Investments (Cost — $509,970,113)** | **Total Investments before Short-Term Investments (Cost — $509,970,113)** | **Total Investments before Short-Term Investments (Cost — $509,970,113)** | **Total Investments before Short-Term Investments (Cost — $509,970,113)** | &nbsp;&nbsp; **512148583** |

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

 **Western Asset Short Duration High Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| Security | Rate | Shares | Value |
| **Short-Term Investments — 2.6%** | **Short-Term Investments — 2.6%** | **Short-Term Investments — 2.6%** | **Short-Term Investments — 2.6%** |
| &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium <br> Shares (Cost — $13,797,377)  | &nbsp;&nbsp; 3.976% | &nbsp;&nbsp; 13797377<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$13797377**<br> <sup>(q)(r)</sup><br>|
| **Total Investments — 100.5% (Cost — $523,767,490)** | **Total Investments — 100.5% (Cost — $523,767,490)** | **Total Investments — 100.5% (Cost — $523,767,490)** | &nbsp;&nbsp; **525945960** |
| &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (0.5)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (0.5)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (0.5)% | &nbsp;&nbsp;&nbsp; (2509976)<br>|
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$523435984** |

---

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

---

| | |
|:---|:---|
| † | Face amount denominated in U.S. dollars, unless otherwise noted. |
| †† | Represents less than 0.1%. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees. <br>|
| <sup>(b)</sup> | Payment-in-kind security for which the issuer has the option at each interest payment date of making interest payments in cash or additional securities.  |
| <sup>(c)</sup> | Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of <br> the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the <br> Board of Trustees.<br>|
| <sup>(d)</sup> | Security is fair valued in accordance with procedures approved by the Board of Trustees (Note 1). |
| <sup>(e)</sup> | Security is valued using significant unobservable inputs (Note 1). |
| <sup>(f)</sup> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a <br> reference rate and spread in their description above.<br>|
| <sup>(g)</sup> | Security has no maturity date. The date shown represents the next call date. |
| <sup>(h)</sup> | Value is less than $1. |
| <sup>(i)</sup> | The coupon payment on this security is currently in default as of October 31, 2025. |
| <sup>(j)</sup> | Securities traded on a when-issued or delayed delivery basis. |
| <sup>(k)</sup> | Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan. |
| <sup>(l)</sup> | Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower <br> prior to the disposition of a senior loan. <br>|
| <sup>(m)</sup> | All or a portion of this loan has not settled as of October 31, 2025. Interest rates are not effective until settlement date. Interest rates shown, if any, are for <br> the settled portion of the loan.<br>|
| <sup>(n)</sup> | All or a portion of this loan is unfunded as of October 31, 2025. The interest rate for fully unfunded term loans is to be determined. At October 31, 2025, the <br> total principal amount and market value of unfunded commitments totaled $226,667 and $226,920, respectively.<br>|
| <sup>(o)</sup> | Collateralized mortgage obligations are secured by an underlying pool of mortgages or mortgage pass-through certificates that are structured to direct <br> payments on underlying collateral to different series or classes of the obligations. The interest rate may change positively or inversely in relation to one or <br> more interest rates, financial indices or other financial indicators and may be subject to an upper and/or lower limit.<br>|
| <sup>(p)</sup> | Restricted security (Note 3). |
| <sup>(q)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |
| <sup>(r)</sup> | In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company" represents Fund ownership of at least 5% of the outstanding <br> voting securities of an issuer, or a company which is under common ownership or control with the Fund. At October 31, 2025, the total market value of <br> investments in Affiliated Companies was $13,797,377 and the cost was $13,797,377 (Note 2).<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| CAS |  | Connecticut Avenue Securities |
| CLO |  | Collateralized Loan Obligation |
| DAC |  | Designated Activity Company |
| ETF |  | Exchange-Traded Fund |
| GBP |  | British Pound |
| PIK |  | Payment-In-Kind |
| REMIC |  | Real Estate Mortgage Investment Conduit |
| SOFR |  | Secured Overnight Financing Rate |
| SPDR |  | Standard & Poor's Depositary Receipts |
| USD |  | United States Dollar |

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Short Duration High Income Fund**

At October 31, 2025, the Fund had the following open forward foreign currency contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Currency <br>Purchased | Currency <br>Purchased | Currency <br>Sold | Currency <br>Sold | Counterparty | Settlement <br>Date<br>| Unrealized <br>Appreciation <br>(Depreciation)<br>|
| USD | &nbsp;&nbsp; 337254 | &nbsp;&nbsp; GBP | &nbsp;&nbsp; 253968 | BNP Paribas SA | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp; $3609 |
| AUD | &nbsp;&nbsp; 809439 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 530535 | Citibank N.A. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp; (539) |
| CAD | &nbsp;&nbsp; 478773 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 344840 | Citibank N.A. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp; (2131) |
| EUR | &nbsp;&nbsp; 228120 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 265231 | Citibank N.A. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp; (1152) |
| **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | &nbsp;&nbsp; **$(213)** |

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** |
| AUD |  | Australian Dollar |
| CAD |  | Canadian Dollar |
| EUR |  | Euro |
| GBP |  | British Pound |
| USD |  | United States Dollar |

---

At October 31, 2025, the Fund had the following open swap contracts:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION**<sup>1</sup>  |
| Reference Entity | Notional <br>Amount<sup>2</sup> <br>| Termination <br>Date<br>| &nbsp;&nbsp;&nbsp; Implied <br>Credit <br>Spread at <br>October 31, <br>2025<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(Depreciation)<br>|
| American Airlines Group Inc., <br> 6.500%, due 7/1/25<br>| $1918000 | 12/20/29 | &nbsp;&nbsp;&nbsp;&nbsp; 4.783% | 5.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; $14356 | &nbsp;&nbsp;&nbsp;&nbsp; $72534 | &nbsp;&nbsp;&nbsp;&nbsp; $(58178) |
| Nabors Industries Inc., 9.125%, <br> due 1/31/30<br>| &nbsp;&nbsp;&nbsp;&nbsp; 408000 | 6/20/29 | &nbsp;&nbsp;&nbsp;&nbsp; 3.891% | 1.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; (38119) | &nbsp;&nbsp;&nbsp;&nbsp; (54068) | &nbsp;&nbsp;&nbsp;&nbsp; 15949 |
| **Total** | **$2326000** |  |  |  | &nbsp;&nbsp;&nbsp; **$(23763)** | &nbsp;&nbsp;&nbsp; **$18466** | &nbsp;&nbsp;&nbsp; **$(42229)** |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION**<sup>4</sup>  |
| Reference Entity | Notional <br>Amount<sup>2</sup> <br>| Termination <br>Date<br>| &nbsp;&nbsp;&nbsp; Implied <br>Credit <br>Spread at <br>October 31, <br>2025<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Depreciation<br>|
| Transocean Inc., 8.000%, due <br> 2/1/27<br>| $408000 | 6/20/29 | &nbsp;&nbsp;&nbsp;&nbsp; 3.038% | 1.000% quarterly | &nbsp;&nbsp;&nbsp; **$27196** | &nbsp;&nbsp;&nbsp; **$37884** | &nbsp;&nbsp;&nbsp; **$(10688)** |

---

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

---

| | |
|:---|:---|
| <sup>1</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to <br> the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities <br> comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the <br> recovery value of the referenced obligation or underlying securities comprising the referenced index.<br>|
| <sup>2</sup> | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event <br> occurs as defined under the terms of that particular swap agreement.<br>|
| <sup>3</sup> | Implied credit spreads, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end, serve <br> as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied <br> credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter <br> into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or <br> other credit event occurring as defined under the terms of the agreement. A credit spread identified as "Defaulted" indicates a credit event has occurred for <br> the referenced entity or obligation.<br>|
| <sup>4</sup> | If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive <br> from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or the underlying securities <br> comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the <br> recovery value of the referenced obligation or the underlying securities comprising the referenced index.<br>|
| † | Percentage shown is an annual percentage rate. |

---

See Notes to Schedule of Investments.

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Western Asset Short Duration High Income Fund 2025 Quarterly Report

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 **Western Asset Short Duration High Income Fund**

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

See Notes to Schedule of Investments.

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

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

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

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

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

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

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

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

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

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

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

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

------

Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | &nbsp;&nbsp; — | &nbsp;&nbsp; $48099303 | &nbsp;&nbsp; $2754595 | &nbsp;&nbsp; $50853898 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | &nbsp;&nbsp; — | &nbsp;&nbsp; 48076937 | &nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp; 48076937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | &nbsp;&nbsp; — | &nbsp;&nbsp; 35639241 | &nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp; 35639241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 263746434 | &nbsp;&nbsp; — | &nbsp;&nbsp; 263746434 |
| &nbsp;&nbsp;&nbsp; Senior Loans: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | &nbsp;&nbsp; — | &nbsp;&nbsp; 8429457 | &nbsp;&nbsp; 1538046 | &nbsp;&nbsp; 9967503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; — | &nbsp;&nbsp; 8527249 | &nbsp;&nbsp; 2744407 | &nbsp;&nbsp; 11271656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | &nbsp;&nbsp; — | &nbsp;&nbsp; 762314 | &nbsp;&nbsp; 880354 | &nbsp;&nbsp; 1642668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Senior Loans | &nbsp;&nbsp; — | &nbsp;&nbsp; 26800872 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26800872 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 27285867 | &nbsp;&nbsp; — | &nbsp;&nbsp; 27285867 |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 21628018 | &nbsp;&nbsp; — | &nbsp;&nbsp; 21628018 |
| &nbsp;&nbsp;&nbsp; Investments in Underlying Funds | &nbsp;&nbsp; $9786288 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 9786288 |
| &nbsp;&nbsp;&nbsp; Convertible Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 3691733 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3691733 |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 1162456 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1162456 |
| &nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; 501373 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 501373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp; 0\* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | &nbsp;&nbsp; 28895 | &nbsp;&nbsp; 168 | &nbsp;&nbsp; — | &nbsp;&nbsp; 29063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 12520 | &nbsp;&nbsp; 12520 |
| &nbsp;&nbsp;&nbsp; Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; 31526 | &nbsp;&nbsp; — | &nbsp;&nbsp; 31526 |
| &nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; 20530 | &nbsp;&nbsp; — | &nbsp;&nbsp; 20530 |
| Total Long-Term Investments | &nbsp;&nbsp; 10316556 | &nbsp;&nbsp; 493902105 | &nbsp;&nbsp; 7929922 | &nbsp;&nbsp; 512148583 |
| Short-Term Investments† | &nbsp;&nbsp; 13797377 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 13797377 |
| **Total Investments** | &nbsp;&nbsp; **$24113933** | &nbsp;&nbsp; **$493902105** | &nbsp;&nbsp; **$7929922** | &nbsp;&nbsp; **$525945960** |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† | &nbsp;&nbsp; — | &nbsp;&nbsp; $3609 | &nbsp;&nbsp; — | &nbsp;&nbsp; $3609 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Corporate Issues — <br> Sell Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 15949 | &nbsp;&nbsp; — | &nbsp;&nbsp; 15949 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$19558** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$19558** |
| **Total** | &nbsp;&nbsp; **$24113933** | &nbsp;&nbsp; **$493921663** | &nbsp;&nbsp; **$7929922** | &nbsp;&nbsp; **$525965518** |
| **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† | &nbsp;&nbsp; — | &nbsp;&nbsp; $3822 | &nbsp;&nbsp; — | &nbsp;&nbsp; $3822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Corporate Issues — <br> Sell Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 58178 | &nbsp;&nbsp; — | &nbsp;&nbsp; 58178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Corporate Issues — <br> Buy Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 10688 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10688 |
| **Total** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$72688** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$72688** |

---

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

---

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

---

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Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

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

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Investments in <br>Securities<br>| Balance <br>as of <br>July 31, 2025<br>| Accrued <br>premiums/ <br>discounts<br>| Realized <br>gain <br>(loss)<br>| Change in <br>unrealized <br>appreciation <br>(depreciation)<sup>1</sup> <br>| Purchases |
| **Corporate Bonds &** <br> **Notes:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Energy | $2385297 | $1736 |  | $143940 | $223622 |
| &nbsp;&nbsp;&nbsp; Financials | 0<br> \*<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Health Care | 0<br> \*<br>|  |  |  |  |
| **Senior Loans:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Communication <br> Services<br>| 1543831 | 427 | $36 | (2397)<br>|  |
| &nbsp;&nbsp;&nbsp; Consumer <br> Discretionary<br>| 1442895 | 1009 | 2200 | (879)<br>| 2739555 |
| &nbsp;&nbsp;&nbsp; Materials | 858230 |  |  | 119 | 22005 |
| **Common Stocks:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Energy | 0<br> \*<br>|  |  |  |  |
| &nbsp;&nbsp;&nbsp; Materials | 23871 |  |  | (11351)<br>|  |
| **Total** | **$6254124** | **$3172** | **$2236** | **$129432** | **$2985182** |

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Investments in <br>Securities (cont'd)<br>| Sales | Transfers <br>into <br>Level 3<br>| Transfers <br>out of <br>Level 3<sup>2</sup> <br>| Balance <br>as of <br>October 31, 2025<br>| Net change <br>in unrealized <br>appreciation <br>(depreciation) for <br> investments <br>in securities <br>still held at <br>October 31, 2025<sup>1</sup> <br>|
| **Corporate Bonds &** <br> **Notes:**<br>|  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Energy |  |  |  | $2754595 | $143940 |
| &nbsp;&nbsp;&nbsp; Financials |  |  |  | 0<br> \*<br>|  |
| &nbsp;&nbsp;&nbsp; Health Care |  |  |  | 0<br> \*<br>|  |
| **Senior Loans:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Communication <br> Services<br>| $(3851)<br>|  |  | 1538046 | (2397)<br>|
| &nbsp;&nbsp;&nbsp; Consumer <br> Discretionary<br>| (233621)<br>|  | $(1206752)<br>| 2744407 | 4140 |
| &nbsp;&nbsp;&nbsp; Materials |  |  |  | 880354 | 119 |
| **Common Stocks:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Energy |  |  |  | 0<br> \*<br>|  |
| &nbsp;&nbsp;&nbsp; Materials |  |  |  | 12520 | (11351)<br>|
| **Total** | **$(237472)**<br>| **—** | **$(1206752)**<br>| **$7929922** | **$134451** |

---

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

\* Amount represents less than $1.

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

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

**2. Transactions with affiliated company**

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended October 31, 2025. The following transactions were effected

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Western Asset Short Duration High Income Fund 2025 Quarterly Report

------

in such company for the period ended October 31, 2025. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>July 31, <br>2025 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>July 31, <br>2025 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium <br> Shares<br>| $8810746 | $68230735 | 68230735 | $63244104 | 63244104 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>October 31, <br>2025<br>|
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium Shares<br>|  | $111333 |  | $13797377 |

---

**3. Restricted securities** 

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Security | &nbsp;&nbsp; Number of <br>Shares/ <br>Warrants<br>| Acquisition <br>Date<br>| Cost | Fair Value <br>at 10/31/2025<br>| Value Per <br>Share/Warrant<br>|
| Spirit Airlines LLC, <br> Common Shares<br>| &nbsp;&nbsp; 466 | 3/25 | $5673 | $168 | &nbsp;&nbsp; $0.36<br> 0.00 %<sup>(a)</sup><br>|
| Spirit Airlines LLC, <br> Warrants<br>| &nbsp;&nbsp; 57028 | 3/25 | 694222 | 20530 <br><sup>(b)</sup><br>| 0.36<br> 0.00 <br><sup>(a)</sup><br>|
| **Total** |  |  | **$699895** | **$20698** | &nbsp;&nbsp; <br> **0.00%** <br> <sup>(a)</sup><br>|

---

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

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

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

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Western Asset Short Duration High Income Fund 2025 Quarterly Report

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## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

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

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

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

- **b. EDGAR series identifier (if any):** S000008975

- **c. LEI of Series:** 549300QVO0TT5WYOHA80

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2025-10-31

**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:** $534407624.54

**Total Liabilities:** $13211787.40

**Net Assets:** $521195837.14

**Delayed Delivery Securities:** $4119199.56

**Cash Not Reported:** $2475513.92

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 222.00000000 | **1-Year:** 2553.74000000 | **5-Year:** 9666.20000000 | **10-Year:** 1415.93000000 | **30-Year:** 0.00000000

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

- **3-Month:** 1761.15000000 | **1-Year:** 54214.42000000 | **5-Year:** 56976.45000000 | **10-Year:** 1168.58000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024383 | 1.22%                | 0.78%                | 0.39%                |
| Class ID C000024385 | 1.16%                | 0.72%                | 0.12%                |
| Class ID C000024386 | 1.24%                | 0.79%                | 0.41%                |
| Class ID C000071124 | 1.18%                | 0.74%                | 0.35%                |
| Class ID C000081534 | 1.15%                | 0.71%                | 0.33%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1915348.71             | $4799420.09                                |
| Month 2  | $1498544.97              | $-415584.20                                |
| Month 3  | $-4037326.46             | $2680001.95                                |

**Designated Index Information**

- **Index Name:** Bloomberg US High Yield 1-5 Yr Cash Pay 2% Index

- **Index Identifier:** NA

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BNP PARIBAS SECURITIES CORP.                                 | USD/GBP FORWARD                                                                  | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3608.55      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                                     | Diversified Healthcare Trust                                                     | CUSIP: 81721MAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    430000 | PA      | $410622.70    | 0.08%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                     | Vistra Operations Co LLC                                                         | CUSIP: 92840VAR3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   3200000 | PA      | $3363539.20   | 0.65%             | 2032-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                     | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2710000 | PA      | $2659429.77   | 0.51%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| SPENCER SPIRIT IH LLC                                        | SPENCER SPIRIT IH LLC                                                            | CUSIP: 84823UAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1206251 | PA      | $1206751.61   | 0.23%             | 2031-07-15      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| CARRIAGE PURCHASER INC                                       | Carriage Purchaser Inc                                                           | CUSIP: 14445LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2610000 | PA      | $2444634.58   | 0.47%             | 2029-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                               | Palmer Square Loan Funding 2022-3 Ltd                                            | CUSIP: 69690CAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    730000 | PA      | $734793.03    | 0.14%             | 2031-04-15      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                | EchoStar Corp                                                                    | CUSIP: 278768AB2<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    131066 | PA      | $315376.86    | 0.06%             | 2030-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VERTIV GROUP CORPORATION                                     | Vertiv Group Corp                                                                | CUSIP: 92535UAB0<br>LEI: 549300ZT8RQ5VK10E643 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1281948.86   | 0.25%             | 2028-11-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mor                               | J.P. Morgan Chase Commercial Mortgage Securities Trust 2021-HTL5                 | CUSIP: 46654PAQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2100000 | PA      | $2112513.90   | 0.41%             | 2038-11-15      | Floating      | 8.56%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2024-R01                                     | CUSIP: 20753UAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    280000 | PA      | $288371.27    | 0.06%             | 2044-01-25      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                 | UBS Group AG                                                                     | CUSIP: 225401BB3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    720000 | PA      | $905263.19    | 0.17%             | 2033-11-15      | Fixed         | 9.02%                 | No            |                  2 | On Loan: No      |
| SMRT                                                         | SMRT 2022-MINI                                                                   | CUSIP: 78457JAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2050000 | PA      | $2004693.57   | 0.38%             | 2039-01-15      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                         | LifePoint Health Inc                                                             | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1080863.00   | 0.21%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                             | CSC Holdings LLC                                                                 | CUSIP: 126307BK2<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    640000 | PA      | $224832.41    | 0.04%             | 2031-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                        | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    820000 | PA      | $902327.18    | 0.17%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CENTRUS ENERGY CORP                                          | Centrus Energy Corp                                                              | CUSIP: 15643UAF1<br>LEI: 549300G6VDK9G8276661 | Long             | DBT              | CORP              | US        |    150000 | PA      | $267037.50    | 0.05%             | 2032-08-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TKC HOLDINGS INC                                             | TKC Holdings Inc                                                                 | CUSIP: 87256YAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1796000 | PA      | $1812864.44   | 0.35%             | 2028-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2025-R02                                     | CUSIP: 20754TAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    270000 | PA      | $271392.93    | 0.05%             | 2045-02-25      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                     | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   4830000 | PA      | $5212922.40   | 1.00%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                             | CSC Holdings LLC                                                                 | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   3320000 | PA      | $2287019.88   | 0.44%             | 2029-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                      | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1690000 | PA      | $1774758.57   | 0.34%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                     | BX Commercial Mortgage Trust 2019-IMC                                            | CUSIP: 05608BAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2450000 | PA      | $2388363.15   | 0.46%             | 2034-04-15      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA FINANCE PLC                                     | Virgin Media Finance PLC                                                         | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |    400000 | PA      | $357463.68    | 0.07%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SUPER MICRO COMPUTER INC                                     | Super Micro Computer Inc                                                         | CUSIP: 86800UAB0<br>LEI: 54930022CZO1N2UGVW07 | Long             | DBT              | CORP              | US        |    783000 | PA      | $836048.25    | 0.16%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                                | CoreCivic Inc                                                                    | CUSIP: 21871NAC5<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |   4230000 | PA      | $4466647.35   | 0.86%             | 2029-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                            | Magnetite XXII Ltd                                                               | CUSIP: 55954HBC5<br>LEI: 5493000081NBXWGGSW23 | Long             | ABS-CBDO         | CORP              | KY        |    520000 | PA      | $523404.39    | 0.10%             | 2036-07-15      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                    | Sunoco LP                                                                        | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   2563000 | PA      | $2604687.20   | 0.50%             | N/A             | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   6273000 | PA      | $6910364.78   | 1.33%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| CB Poly US Holdings Inc                                      | CB Poly US Holdings Inc                                                          | CUSIP: 12511PAB7<br>LEI: 254900TSH6NNRZ0GUN05 | Long             | LON              | CORP              | US        |   1571400 | PA      | $1427169.05   | 0.27%             | 2029-05-18      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                                     | Boost Newco Borrower LLC                                                         | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |   3330000 | PA      | $3540222.90   | 0.68%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                          | Axon Enterprise Inc                                                              | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    250000 | PA      | $259026.20    | 0.05%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                | Carnival Corp                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    140000 | PA      | $144461.08    | 0.03%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Apex Credit CLO LLC                                          | Apex Credit CLO 2021-II LLC                                                      | CUSIP: 03755QAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    640000 | PA      | $640283.84    | 0.12%             | 2034-10-20      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                      | Millrose Properties Inc                                                          | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    570000 | PA      | $573231.90    | 0.11%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                   | X CORP                                                                           | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    288517 | PA      | $281664.49    | 0.05%             | 2029-10-26      | Floating      | 10.45%                | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                          | CLYDESDALE ACQUISITION HOLDINGS INC                                              | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    750369 | PA      | $749577.73    | 0.14%             | 2032-04-01      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| BANIJAY ENTERTAINMENT                                        | Banijay Entertainment SAS                                                        | CUSIP: 060335AB2<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |   2350000 | PA      | $2440815.75   | 0.47%             | 2029-05-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd                                            | Jamestown CLO XVII Ltd                                                           | CUSIP: 47048UAS7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1103832.84   | 0.21%             | 2035-01-25      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                              | OHA Credit Funding 11 Ltd                                                        | CUSIP: 67115VAW2<br>LEI: 2549002MG7GTTY5LHR97 | Long             | ABS-CBDO         | CORP              | BM        |    710000 | PA      | $713693.21    | 0.14%             | 2037-07-19      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                      | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAJ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    246000 | PA      | $201416.61    | 0.04%             | 2029-08-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                     | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1114763.32   | 0.21%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| NEW GENERATION GAS                                           | New Generation Gas Gathering LLC                                                 | CUSIP: 000000000<br>LEI: 9845008CB7EPB0KCD474 | Long             | DBT              | CORP              | US        |   2648649 | PA      | $2754594.62   | 0.53%             | 2029-09-30      | Floating      | 10.05%                | No            |                  3 | On Loan: No      |
| BNP PARIBAS                                                  | BNP Paribas SA                                                                   | CUSIP: 05565AM34<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |   2520000 | PA      | $2659287.96   | 0.51%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                                     | Diversified Healthcare Trust                                                     | CUSIP: 25525PAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1041622.52   | 0.20%             | 2030-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                      | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1770000 | PA      | $1704376.54   | 0.33%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                                     | Medline Borrower LP/Medline Co-Issuer Inc                                        | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2330000 | PA      | $2399906.99   | 0.46%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GLOBAL AUTO HO/AAG FH UK                                     | Global Auto Holdings Ltd/AAG FH UK Ltd                                           | CUSIP: 00033GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   2500000 | PA      | $2408762.50   | 0.46%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                             | Altice France SA                                                                 | CUSIP: 02090DAA6<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    660000 | PA      | $673084.68    | 0.13%             | 2029-11-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| X.Ai Corp.                                                   | XAI CORP                                                                         | CUSIP: 98402XAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   2852850 | PA      | $2990143.41   | 0.57%             | 2028-06-30      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                                        | Nabors Industries Inc                                                            | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |   1670000 | PA      | $1588553.10   | 0.30%             | 2031-08-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                               | Bombardier Inc                                                                   | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   2200000 | PA      | $2337874.00   | 0.45%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UPBOUND GROUP INC                                            | Upbound Group Inc                                                                | CUSIP: 76009NAL4<br>LEI: 529900QUHE15UQNCCJ63 | Long             | DBT              | CORP              | US        |   2590000 | PA      | $2513164.80   | 0.48%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                    | Sunoco LP                                                                        | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |   1260000 | PA      | $1261600.20   | 0.24%             | 2031-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                     | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1269015.24   | 0.24%             | 2033-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                          | United Airlines Inc                                                              | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |   4500000 | PA      | $4459705.65   | 0.86%             | 2029-04-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Knight Health Holdings LLC                                   | Knight Health Holdings LLC                                                       | CUSIP: 49902TAB8<br>LEI: 2549008OACTDEJGJC870 | Long             | LON              | CORP              | US        |    187263 | PA      | $61952.07     | 0.01%             | 2028-12-23      | Floating      | 9.33%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                | ZF North America Capital Inc                                                     | CUSIP: 98877DAF2<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   3400000 | PA      | $3239584.26   | 0.62%             | 2030-04-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                               | CarVal CLO XI C Ltd                                                              | CUSIP: 14688RAJ9<br>LEI: 254900BDRF474L9PWM54 | Long             | ABS-CBDO         | CORP              | KY        |    930000 | PA      | $934077.86    | 0.18%             | 2037-10-20      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                      | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92841HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   3700000 | PA      | $3850457.28   | 0.74%             | 2028-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| VERSANT MEDIA GROUP INC                                      | Versant Media Group Inc                                                          | CUSIP: 925283AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    970000 | PA      | $989353.59    | 0.19%             | 2031-01-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DS Parent Inc                                                | DS PARENT INC                                                                    | CUSIP: 23344YAG7<br>LEI: 254900EH8GRZUGRWRH57 | Long             | LON              | CORP              | US        |   1925625 | PA      | $1785218.05   | 0.34%             | 2031-01-31      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| NCR ATLEOS LLC                                               | NCR Atleos Corp                                                                  | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1458857.25   | 0.28%             | 2029-04-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| PAR PHARMACEUTICAL INC                                       | PAR PHARMACEUTICAL INC                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1580000 | PA      | $0.00         | 0.00%             | 2027-04-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                     | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   1435000 | PA      | $1316164.06   | 0.25%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                | TransDigm Inc                                                                    | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1298903.75   | 0.25%             | 2030-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                            | GEO Group Inc/The                                                                | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $4822347.20   | 0.93%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                                | NYC Commercial Mortgage Trust 2025-28L                                           | CUSIP: 67123JAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    600000 | PA      | $600386.22    | 0.12%             | 2038-11-05      | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| AKUMIN INC                                                   | Akumin Inc                                                                       | CUSIP: 01021XAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1310000 | PA      | $1223460.12   | 0.23%             | 2027-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STOR                                            | Seagate Data Storage Technology Pte Ltd                                          | CUSIP: 81180LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |    630000 | PA      | $647041.50    | 0.12%             | 2030-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                       | Adient Global Holdings Ltd                                                       | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |    630000 | PA      | $651864.78    | 0.13%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TUTOR PERINI CORP                                            | Tutor Perini Corp                                                                | CUSIP: 901109AG3<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |   2210000 | PA      | $2468171.21   | 0.47%             | 2029-04-30      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| HP PHRG Borrower LLC                                         | PHRG INTERMEDIATE LLC                                                            | CUSIP: 40445XAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    997500 | PA      | $975684.68    | 0.19%             | 2032-02-20      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                         | Bank of America Corp                                                             | CUSIP: 060505FL3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    690000 | PA      | $698364.18    | 0.13%             | N/A             | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                      | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    660000 | PA      | $641860.16    | 0.12%             | 2029-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                      | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    570000 | PA      | $587168.40    | 0.11%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ABCTEC Second Out TL                                         | ABCTEC Second Out TL                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1680000 | PA      | $1617000.00   | 0.31%             | 2031-09-08      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| TRANSDIGM INC                                                | TransDigm Inc                                                                    | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1235382.17   | 0.24%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                       | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2670539.10   | 0.51%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CEDR Trust                                                   | CEDR Commercial Mortgage Trust 2022-SNAI                                         | CUSIP: 12524AAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1800000 | PA      | $1761926.04   | 0.34%             | 2039-02-15      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                             | Altice France SA                                                                 | CUSIP: 02090DAB4<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   2056167 | PA      | $2012765.71   | 0.39%             | 2030-10-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                               | Palmer Square Loan Funding 2024-1 Ltd                                            | CUSIP: 69703NAG9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $502588.30    | 0.10%             | 2032-10-15      | Floating      | 6.45%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OPERATING CO                                      | Five Point Operating Co LP                                                       | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1390953.60   | 0.27%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                           | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2020-1                    | CUSIP: 35563PPH6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    960000 | PA      | $930745.34    | 0.18%             | 2059-08-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                     | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2300931.36   | 0.44%             | 2029-10-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R05                                     | CUSIP: 20754DAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    930000 | PA      | $1000682.23   | 0.19%             | 2042-04-25      | Floating      | 11.18%                | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                            | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp                     | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1890000 | PA      | $1906585.71   | 0.37%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| New Mountain CLO Ltd                                         | New Mountain CLO 5 Ltd                                                           | CUSIP: 64754WAQ6<br>LEI: 2549000KVE2J1UOHZ207 | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $713367.25    | 0.14%             | 2036-07-20      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| EyeCare Partners LLC                                         | EYECARE PARTNERS LLC                                                             | CUSIP: 30233PAT7<br>LEI: 254900ZAACWK09RJ8W93 | Long             | LON              | CORP              | US        |   1137983 | PA      | $673902.29    | 0.13%             | 2028-11-30      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                              | Nissan Motor Co Ltd                                                              | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |   1970000 | PA      | $1849007.98   | 0.35%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| ADTALEM GLOBAL EDUCATION                                     | Adtalem Global Education Inc                                                     | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |   1132000 | PA      | $1134082.88   | 0.22%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                     | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAU1<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    410000 | PA      | $429635.72    | 0.08%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                      | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2853384.30   | 0.55%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                      | VZ Secured Financing BV                                                          | CUSIP: 91845AAB1<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    700000 | PA      | $714074.85    | 0.14%             | 2033-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                | ZF North America Capital Inc                                                     | CUSIP: 000000000<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194863.44    | 0.04%             | 2030-04-14      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| DIEBOLD NIXDORF INC                                          | Diebold Nixdorf Inc                                                              | CUSIP: 253651AK9<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |    780000 | PA      | $827933.34    | 0.16%             | 2030-03-31      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| MERCER INTL INC                                              | Mercer International Inc                                                         | CUSIP: 588056BB6<br>LEI: 549300Z5IAG39VRTY874 | Long             | DBT              | CORP              | US        |    430000 | PA      | $278463.92    | 0.05%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                                         | Michaels Cos Inc/The                                                             | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1041350.00   | 0.20%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                | TransDigm Inc                                                                    | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    700000 | PA      | $731161.20    | 0.14%             | 2031-12-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                            | Chord Energy Corp                                                                | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    970000 | PA      | $972914.74    | 0.19%             | 2030-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UFC Holdings LLC (Zuffa)/TKO Group                           | UFC HOLDINGS LLC                                                                 | CUSIP: 90266UAL7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1276800 | PA      | $1281096.43   | 0.25%             | 2031-11-21      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                       | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    830000 | PA      | $792509.07    | 0.15%             | 2028-09-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| AMC ENTERTAINMENT HLDGS                                      | AMC Entertainment Holdings Inc                                                   | CUSIP: 00165CBA1<br>LEI: 549300ZO77UNR6NRBR11 | Long             | DBT              | CORP              | US        |   2010000 | PA      | $1710754.13   | 0.33%             | 2029-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CITRIX SYSTEMS INC                                           | Citrix Systems Inc                                                               | CUSIP: 177376AE0<br>LEI: HCTKJGUQOPZ5NBK7NP58 | Long             | DBT              | CORP              | US        |   1790000 | PA      | $1740814.02   | 0.33%             | 2027-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| LHOME Mortgage Trust                                         | LHOME Mortgage Trust 2024-RTL4                                                   | CUSIP: 50205PAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1200000 | PA      | $1217761.68   | 0.23%             | 2039-07-25      | Variable      | 7.79%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                                                | Life Time Inc                                                                    | CUSIP: 53190FAE5<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |    680000 | PA      | $689982.40    | 0.13%             | 2031-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                        | GFL Environmental Inc                                                            | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |   2300000 | PA      | $2408964.80   | 0.46%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                        | Directv Financing LLC                                                            | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1970000 | PA      | $1960798.13   | 0.38%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                       | FIRST BRANDS GROUP LLC                                                           | CUSIP: 31935HAM9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    122224 | PA      | $130015.97    | 0.02%             | 2026-06-29      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| LRS Holdings LLC                                             | LRS Holdings LLC                                                                 | CUSIP: 50205HAC4<br>LEI: 2549000MQSLNQZB32779 | Long             | LON              | CORP              | US        |   1128637 | PA      | $1111707.41   | 0.21%             | 2028-08-31      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Learfield Communications LLC                                 | LEARFIELD COMMUNICATIONS LLC                                                     | CUSIP: 00165HAL7<br>LEI: 549300177GK4LMS8T214 | Long             | LON              | CORP              | US        |   1257696 | PA      | $1269883.07   | 0.24%             | 2028-06-30      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                               | CAD/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2131.50     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                                     | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1090000 | PA      | $1155578.76   | 0.22%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                        | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAJ8<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |   1980000 | PA      | $1994592.60   | 0.38%             | 2033-09-24      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ryan LLC                                                     | RYAN LLC                                                                         | CUSIP: 78350LAZ8<br>LEI: 549300TG86D8HZC6TE67 | Long             | LON              | CORP              | US        |   1074540 | PA      | $1071854.11   | 0.21%             | 2030-11-14      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                     | Permian Resources Operating LLC                                                  | CUSIP: 27034RAC7<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    646000 | PA      | $700890.62    | 0.13%             | 2031-07-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                         | Las Vegas Sands Corp                                                             | CUSIP: 517834AM9<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    150000 | PA      | $153411.10    | 0.03%             | 2028-06-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                      | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   2080000 | PA      | $2087765.45   | 0.40%             | 2032-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HLDGS LLC                                      | Sotera Health Holdings LLC                                                       | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2525164.80   | 0.48%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                | TransDigm Inc                                                                    | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    130000 | PA      | $133696.55    | 0.03%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                      | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAQ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    610000 | PA      | $639681.38    | 0.12%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                                       | JB Poindexter & Co Inc                                                           | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |   2240000 | PA      | $2346874.88   | 0.45%             | 2031-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                                            | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   1650000 | PA      | $1738123.20   | 0.33%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp                                    | Gainwell Acquisition Corp                                                        | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    746084 | PA      | $740487.93    | 0.14%             | 2027-10-01      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                             | Altice France SA                                                                 | CUSIP: 02090DAD0<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    546771 | PA      | $524007.80    | 0.10%             | 2032-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICAL INDU                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   2779000 | PA      | $2782008.55   | 0.53%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd                                            | Jamestown CLO IX Ltd                                                             | CUSIP: 47048JBK8<br>LEI: 254900NFTK4YH0WYT485 | Long             | ABS-CBDO         | CORP              | KY        |    710000 | PA      | $709886.83    | 0.14%             | 2034-07-25      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                        | Toronto-Dominion Bank/The                                                        | CUSIP: 89117F8Z5<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   2300000 | PA      | $2432210.90   | 0.47%             | 2082-10-31      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                        | American Airlines Inc                                                            | CUSIP: 023771T40<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5590000 | PA      | $5835440.13   | 1.12%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Magenta Security Holdings LLC                                | MAGENTA SECURITY HOLDING                                                         | CUSIP: 55909UAE9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     52657 | PA      | $43079.88     | 0.01%             | 2028-07-27      | Floating      | 10.85%                | No            |                  2 | On Loan: No      |
| Arctic Canadian Diamond Company Ltd                          | ARCTIC CANADIAN DIAMONDS                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    883042 | PA      | $880354.14    | 0.17%             | 2027-12-31      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| Petco Health and Wellness Company Inc                        | Petco Health & Wellness Co Inc                                                   | CUSIP: 71601HAB2<br>LEI: 2549007TYGV6RVSE9M61 | Long             | LON              | CORP              | US        |   1360000 | PA      | $1343068.00   | 0.26%             | 2028-03-03      | Floating      | 7.51%                 | No            |                  2 | On Loan: No      |
| Blackhawk Network Holdings Inc.                              | BHN MERGER SUB INC                                                               | CUSIP: 09238FAM3<br>LEI: 549300LFU3K8UIR03132 | Long             | LON              | CORP              | US        |    898659 | PA      | $903363.59    | 0.17%             | 2029-03-12      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Co                               | Structured Asset Securities Corp Trust 2005-SC1                                  | CUSIP: 86359DTG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    878458 | PA      | $625930.03    | 0.12%             | 2031-05-25      | Variable      | 6.56%                 | No            |                  2 | On Loan: No      |
| EW SCRIPPS CO                                                | EW Scripps Co/The                                                                | CUSIP: 811054AH8<br>LEI: 549300U1OW41QPKYW028 | Long             | DBT              | CORP              | US        |   1120000 | PA      | $1063251.39   | 0.20%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| MEG ENERGY CORP                                              | MEG Energy Corp                                                                  | CUSIP: 552704AF5<br>LEI: 5493002WXPTG5ZC1T326 | Long             | DBT              | CORP              | CA        |   1700000 | PA      | $1702420.80   | 0.33%             | 2029-02-01      | Fixed         | 5.88%                 | 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        |    174589 | PA      | $178063.15    | 0.03%             | 2039-07-25      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| ACADEMY LTD                                                  | Academy Ltd                                                                      | CUSIP: 00401YAA8<br>LEI: 549300BN53IR80C35Z14 | Long             | DBT              | CORP              | US        |    440000 | PA      | $442550.68    | 0.08%             | 2027-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Catawba Nation Gaming Authority                              | CATAWBA NATION GAMING AUTHORITY                                                  | CUSIP: 14907EAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1760000 | PA      | $1801254.40   | 0.35%             | 2032-03-28      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                             | MGM Resorts International                                                        | CUSIP: 552953CF6<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1146805.80   | 0.22%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL FOUR US CLO                                          | CAPITAL FOUR US CLO LTD                                                          | CUSIP: 14016BAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    870000 | PA      | $870870.00    | 0.17%             | 2038-10-18      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| LHOME Mortgage Trust                                         | LHOME Mortgage Trust 2025-RTL1                                                   | CUSIP: 50205UAC5<br>LEI: 5299002NGIWITLMXOH85 | Long             | ABS-MBS          | CORP              | US        |    680000 | PA      | $688304.98    | 0.13%             | 2040-01-25      | Variable      | 7.02%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                       | Cloud Software Group Inc                                                         | CUSIP: 18912UAG7<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    880000 | PA      | $882834.48    | 0.17%             | 2033-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                       | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1436114.55   | 0.28%             | 2029-01-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Diamond Sports Net, LLC                                      | DIAMOND SPORTS NET LLC                                                           | CUSIP: 25277EAB8<br>LEI: 549300MPO5H6LGX4RJ82 | Long             | LON              | CORP              | US        |   2005750 | PA      | $1534398.64   | 0.29%             | 2028-01-02      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| SPIRIT AIRLINES LLC                                          | SPIRIT AIRLINES LLC                                                              | CUSIP: 84863V135<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     57028 | NS      | $20530.08     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| iShares 0-5 Year High Yield Corporate Bond ETF               | iShares 0-5 Year High Yield Corporate Bond ETF                                   | CUSIP: 46434V407<br>LEI: 549300R96U5WQ7R5ID10 | Long             | EC               | RF                | US        |    113400 | NS      | $4885272.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                     | First Quantum Minerals Ltd                                                       | CUSIP: 335934AV7<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   5080000 | PA      | $5381604.68   | 1.03%             | 2029-03-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                             | CSC Holdings LLC                                                                 | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   3540000 | PA      | $2798672.67   | 0.54%             | 2029-01-31      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                        | Qnity Electronics Inc                                                            | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |   1210000 | PA      | $1232848.43   | 0.24%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                     | First Quantum Minerals Ltd                                                       | CUSIP: 335934AU9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |   4660000 | PA      | $4886224.36   | 0.94%             | 2031-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| Apex Credit CLO LLC                                          | Apex Credit CLO 2020 LTD                                                         | CUSIP: 03756ABL0<br>LEI: 549300WAK1RS0910RU63 | Long             | ABS-CBDO         | CORP              | BM        |    560000 | PA      | $561983.63    | 0.11%             | 2035-04-20      | Floating      | 8.20%                 | No            |                  2 | On Loan: No      |
| TITAN INTERNATIONAL INC                                      | Titan International Inc                                                          | CUSIP: 88830MAM4<br>LEI: 254900CXRGBE7C4B5A06 | Long             | DBT              | CORP              | US        |   1830000 | PA      | $1835573.70   | 0.35%             | 2028-04-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-DNA5                                          | CUSIP: 35564KJA8<br>LEI: 5493000ISU5NYXNHD479 | Long             | ABS-MBS          | CORP              | US        |    790000 | PA      | $841599.01    | 0.16%             | 2034-01-25      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                                   | Viasat Inc                                                                       | CUSIP: 92552VAR1<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |   1380000 | PA      | $1296633.92   | 0.25%             | 2031-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                     | Permian Resources Operating LLC                                                  | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    510000 | PA      | $517343.14    | 0.10%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR INC                                          | Arbor Realty SR Inc                                                              | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1180767.13   | 0.23%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                      | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    290000 | PA      | $323483.48    | 0.06%             | 2028-06-05      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD                                               | VOC Escrow Ltd                                                                   | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |    250000 | PA      | $249885.05    | 0.05%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                                      | Dream Finders Homes Inc                                                          | CUSIP: 26154DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1294741.50   | 0.25%             | 2030-09-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                               | Gray Media Inc                                                                   | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    830000 | PA      | $835072.35    | 0.16%             | 2032-07-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                   | X CORP                                                                           | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1660000 | PA      | $1667262.50   | 0.32%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| SIMMONS FOOD INC/SIMMONS                                     | Simmons Foods Inc/Simmons Prepared Foods Inc/Simmons Pet Food Inc/Simmons Feed   | CUSIP: 82873MAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1360000 | PA      | $1304752.27   | 0.25%             | 2029-03-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                      | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAR2<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $1147492.00   | 0.22%             | 2031-09-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| WBI OPERATING LLC                                            | WBI Operating LLC                                                                | CUSIP: 92944BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $999745.00    | 0.19%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                       | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1600000 | PA      | $1501030.72   | 0.29%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HUDBAY MINERALS INC                                          | Hudbay Minerals Inc                                                              | CUSIP: 443628AH5<br>LEI: 894500LX3TMESP27BE29 | Long             | DBT              | CORP              | CA        |   2340000 | PA      | $2371105.62   | 0.45%             | 2029-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Red Planet Borrower LLC                                      | RED PLANET BORROWER LLC                                                          | CUSIP: 57165KAE6<br>LEI: 254900LGTHBRY5NA0C90 | Long             | LON              | CORP              | US        |   1170000 | PA      | $1154398.05   | 0.22%             | 2032-09-08      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| ALTICE FRAN LUX 3/HOLD 1                                     | Altice France Lux 3 / Altice Holdings 1                                          | CUSIP: 020956AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    500000 | PA      | $470657.71    | 0.09%             | 2033-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                                         | Michaels Cos Inc/The                                                             | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |   2880000 | PA      | $2703690.03   | 0.52%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Dayforce Inc                                                 | DAYFORCE INC                                                                     | CUSIP: 23923YAB7<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |   1630000 | PA      | $1626503.65   | 0.31%             | 2032-10-07      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARM FIN IV                                            | Teva Pharmaceutical Finance Netherlands IV BV                                    | CUSIP: 881937AA4<br>LEI: 549300GKSD1RG56QRY33 | Long             | DBT              | CORP              | NL        |    830000 | PA      | $858796.85    | 0.16%             | 2030-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Western Asset Premier Institutional Government Reserves      | Western Asset Premier Institutional Government Reserves                          | CUSIP: 52470G494<br>LEI: 549300WB3XRN9YTWFB76 | Long             | STIV             | RF                | US        |  12584393 | NS      | $12584392.70  | 2.41%             |  |  |  | No            |                  1 | On Loan: No      |
| BX Trust                                                     | BX Trust 2021-VIEW                                                               | CUSIP: 05606GAQ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   2100000 | PA      | $2095953.93   | 0.40%             | 2036-06-15      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| AGL CLO 16 LTD                                               | AGL CLO 16 Ltd                                                                   | CUSIP: 00120LAL2<br>LEI: 2549009GL17CEZFCKZ48 | Long             | ABS-CBDO         | CORP              | KY        |    240000 | PA      | $238804.75    | 0.05%             | 2035-01-20      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                      | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     60000 | PA      | $62636.39     | 0.01%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                               | Apidos CLO XXX                                                                   | CUSIP: 03768CAW9<br>LEI: 2549001XBZ4DU4T7EC48 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $755820.60    | 0.15%             | 2031-10-18      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| SPIRIT AVIA HOL RESTRICT                                     | SPIRIT AVIA HOL RESTRICT                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       466 | NS      | $167.76       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                                        | Argentine Republic Government International Bond                                 | CUSIP: 040114HX1<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |     99536 | PA      | $84953.97     | 0.02%             | 2029-07-09      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| APOLLO CMMRL REAL EST FI                                     | Apollo Commercial Real Estate Finance Inc                                        | CUSIP: 03762UAD7<br>LEI: 549300E0AN7M2AQHSY29 | Long             | DBT              | CORP              | US        |    470000 | PA      | $452753.21    | 0.09%             | 2029-06-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| PARK-OHIO INDUSTRIES INC                                     | Park-Ohio Industries Inc                                                         | CUSIP: 700677AS6<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |   1260000 | PA      | $1287228.60   | 0.25%             | 2030-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                       | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4900000 | PA      | $4662423.99   | 0.89%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| APH/APH2/APH3/AQUARIAN                                       | APH Somerset Investor 2 LLC / APH2 Somerset Investor 2 LLC / APH3 Somerset Inves | CUSIP: 00188QAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2440000 | PA      | $2515103.20   | 0.48%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                                      | Dream Finders Homes Inc                                                          | CUSIP: 26154DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2064306.00   | 0.40%             | 2028-08-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                                         | Las Vegas Sands Corp                                                             | CUSIP: 517834AN7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   1040000 | PA      | $1087606.00   | 0.21%             | 2030-06-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                 | Voya CLO 2020-3 Ltd                                                              | CUSIP: 92918NBE6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    550000 | PA      | $552959.06    | 0.11%             | 2038-01-20      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| AAR ESCROW ISSUER LLC                                        | AAR Escrow Issuer LLC                                                            | CUSIP: 00253PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1940000 | PA      | $2004417.70   | 0.38%             | 2029-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RB GLOBAL HOLDINGS INC                                       | RB Global Holdings Inc                                                           | CUSIP: 76774LAB3<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |   1330000 | PA      | $1359668.31   | 0.26%             | 2028-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit                               | Bain Capital Credit CLO 2019-1                                                   | CUSIP: 05683VBG8<br>LEI: 549300B0VI605XM3L529 | Long             | ABS-CBDO         | CORP              | KY        |    850000 | PA      | $852720.77    | 0.16%             | 2034-04-19      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                       | RR 18 Ltd                                                                        | CUSIP: 749737AJ1<br>LEI: 54930003V8ISBLDELD80 | Long             | ABS-CBDO         | CORP              | KY        |   1040000 | PA      | $1045123.56   | 0.20%             | 2040-07-15      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| COINBASE GLOBAL INC                                          | Coinbase Global Inc                                                              | CUSIP: 19260QAC1<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1047093.74   | 0.20%             | 2028-10-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                     | Celanese US Holdings LLC                                                         | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1190730.00   | 0.23%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Starlight Parent LLC                                         | STARLIGHT PARENT LLC                                                             | CUSIP: 85554UAB0<br>LEI: 254900ZM34IBOK68V949 | Long             | LON              | CORP              | US        |   2680000 | PA      | $2669963.40   | 0.51%             | 2032-04-16      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| Greywolf CLO Ltd                                             | Greywolf CLO IV Ltd                                                              | CUSIP: 39809TBC0<br>LEI: 5493008JNE27URH1VF66 | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501826.65    | 0.10%             | 2034-04-17      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                            | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    900000 | PA      | $949561.20    | 0.18%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                | Citigroup Inc                                                                    | CUSIP: 172967PJ4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1348074.00   | 0.26%             | N/A             | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| GSAA Home Equity Trust                                       | GSAA Home Equity Trust 2006-5                                                    | CUSIP: 362334GT5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1499999 | PA      | $683981.18    | 0.13%             | 2036-03-25      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                                     | Burford Capital Global Finance LLC                                               | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    870000 | PA      | $866318.07    | 0.17%             | 2030-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Eagle Re Ltd                                                 | Eagle RE 2023-1 Ltd                                                              | CUSIP: 26982EAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | BM        |    920000 | PA      | $978892.14    | 0.19%             | 2033-09-26      | Floating      | 9.38%                 | No            |                  2 | On Loan: No      |
| VOLTAGRID LLC                                                | VoltaGrid LLC                                                                    | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |   1030000 | PA      | $1048207.20   | 0.20%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| RXO INC                                                      | RXO Inc                                                                          | CUSIP: 98379JAA3<br>LEI: 549300KL8CA6GP8XPM30 | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1512241.80   | 0.29%             | 2027-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SGUS LLC                                                     | SGUS LLC                                                                         | CUSIP: 81880AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    894518 | PA      | $776003.31    | 0.15%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limit                               | Bain Capital Credit CLO 2021-4 Ltd                                               | CUSIP: 05685AAL2<br>LEI: 254900YJBP8866ZPO033 | Long             | ABS-CBDO         | CORP              | KY        |    400000 | PA      | $397412.40    | 0.08%             | 2034-10-20      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                      | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAK7<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |    250000 | PA      | $259813.00    | 0.05%             | 2028-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                           | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2019-1                    | CUSIP: 35563PJQ3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    695888 | PA      | $681966.78    | 0.13%             | 2058-07-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                            | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    670000 | PA      | $689039.38    | 0.13%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ALTICE LUXEMBOURG 0 SNR PERP EUR1 '144A'                     | ALTICE LUXEMBOURG 0 SNR PERP EUR1 '144A'                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |      2090 | NS      | $31525.88     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Banc of America Funding Corpor                               | Banc of America Funding 2015-R4 Trust                                            | CUSIP: 05990RAD3<br>LEI: 549300R847L762RQF071 | Long             | ABS-MBS          | CORP              | US        |     28082 | PA      | $28067.11     | 0.01%             | 2037-02-25      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| 1261229 BC LTD                                               | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   2580000 | PA      | $2699388.29   | 0.52%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| CAPSTONE BORROWER INC                                        | Capstone Borrower Inc                                                            | CUSIP: 140944AA7<br>LEI: 254900YSP2BAI3YKIX08 | Long             | DBT              | CORP              | US        |    520000 | PA      | $531066.64    | 0.10%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MIDCAP FINANCIAL ISSR TR                                     | Midcap Financial Issuer Trust                                                    | CUSIP: 59567LAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1159844.89   | 0.22%             | 2028-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                          | Axon Enterprise Inc                                                              | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    490000 | PA      | $504473.63    | 0.10%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                             | Getty Images Inc                                                                 | CUSIP: 374276AM5<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    150000 | PA      | $149035.12    | 0.03%             | 2030-02-21      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                          | NCL Corp Ltd                                                                     | CUSIP: 62886HBD2<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    320000 | PA      | $321920.00    | 0.06%             | 2027-02-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                           | Viking Cruises Ltd                                                               | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |   2000000 | PA      | $2144078.00   | 0.41%             | 2031-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| SALLY HOLDINGS/SALLY CAP                                     | Sally Holdings LLC / Sally Capital Inc                                           | CUSIP: 79546VAQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    780000 | PA      | $812636.76    | 0.16%             | 2032-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                                      | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 049362AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1470000 | PA      | $1440781.99   | 0.28%             | 2028-06-01      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                                        | Argentine Republic Government International Bond                                 | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    953791 | PA      | $670515.08    | 0.13%             | 2035-07-09      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| PRIMO / TRITON WATER HLD                                     | Primo Water Holdings Inc / Triton Water Holdings Inc                             | CUSIP: 74168RAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1132954.95   | 0.22%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                     | Madison Park Funding XXIV Ltd                                                    | CUSIP: 55820NBC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    590000 | PA      | $592822.44    | 0.11%             | 2029-10-20      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| Hartwick Park CLO, Ltd.                                      | Hartwick Park CLO Ltd                                                            | CUSIP: 417402AE4<br>LEI: 2549003E1ZAWJG55NM75 | Long             | ABS-CBDO         | CORP              | JE        |    760000 | PA      | $753397.50    | 0.14%             | 2037-01-20      | Floating      | 8.73%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                          | Altice Financing SA                                                              | CUSIP: 02154CAF0<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   3300000 | PA      | $2462841.71   | 0.47%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                              | CDS TRANSOCEAN INC                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $26720.26     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Clover CLO                                                   | Clover CLO 2021-3 LLC                                                            | CUSIP: 18915FAG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    610000 | PA      | $611536.71    | 0.12%             | 2035-01-25      | Floating      | 6.41%                 | No            |                  2 | On Loan: No      |
| GLOBAL AUTO HO/AAG FH UK                                     | Global Auto Holdings Ltd/AAG FH UK Ltd                                           | CUSIP: 00033YAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    200000 | PA      | $205277.52    | 0.04%             | 2029-08-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                                | FirstCash Inc                                                                    | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |   2380000 | PA      | $2391704.84   | 0.46%             | 2030-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                     | Univision Communications Inc                                                     | CUSIP: 914906AY8<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    850000 | PA      | $875639.40    | 0.17%             | 2028-08-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                                             | AMC Networks Inc                                                                 | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    880000 | PA      | $924513.04    | 0.18%             | 2029-01-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| Asurion LLC                                                  | Asurion LLC                                                                      | CUSIP: 04649VBB5<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |   1594749 | PA      | $1598735.97   | 0.31%             | 2028-08-19      | Floating      | 8.16%                 | No            |                  2 | On Loan: No      |
| GATES CORPORATION/DE                                         | Gates Corp/DE                                                                    | CUSIP: 367398AA2<br>LEI: 984500F43C791F4C7894 | Long             | DBT              | CORP              | US        |    680000 | PA      | $706832.80    | 0.14%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                      | Starwood Property Trust Inc                                                      | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   1970000 | PA      | $2015835.99   | 0.39%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                                     | Smyrna Ready Mix Concrete LLC                                                    | CUSIP: 85236FAA1<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    390000 | PA      | $389011.27    | 0.07%             | 2028-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AEROVIRONMENT INC                                            | AeroVironment Inc                                                                | CUSIP: 008073AA6<br>LEI: 529900PGHVI29YLZ6221 | Long             | DBT              | CORP              | US        |    690000 | PA      | $965310.00    | 0.19%             | 2030-07-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                                           | Ford Motor Co                                                                    | CUSIP: 345370DB3<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1027170.37   | 0.20%             | 2032-08-19      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Marble Point CLO XXIII Ltd.                                  | Marble Point CLO XXIII Ltd                                                       | CUSIP: 56607TBA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1250000 | PA      | $1252997.50   | 0.24%             | 2035-01-22      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Versant Media Group Inc                                      | VERSANT MEDIA GROUP INC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    970000 | PA      | $967982.40    | 0.19%             | 2030-10-23      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2021-R01                                     | CUSIP: 20754RAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    520000 | PA      | $530584.81    | 0.10%             | 2041-10-25      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                | CoreWeave Inc                                                                    | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1084509.00   | 0.21%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                       | Northern Oil & Gas Inc                                                           | CUSIP: 665530AB7<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1530659.70   | 0.29%             | 2031-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                    | Block Inc                                                                        | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1218880.80   | 0.23%             | 2030-08-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Aveanna Healthcare LLC                                       | AVEANNA HEALTHCARE LLC                                                           | CUSIP: 05549DAN8<br>LEI: 5493006D6JRLPIY8YV18 | Long             | LON              | CORP              | US        |    740000 | PA      | $743067.30    | 0.14%             | 2032-09-17      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                               | Palmer Square Loan Funding 2024-3 Ltd                                            | CUSIP: 69690EAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    900000 | PA      | $905039.64    | 0.17%             | 2032-08-08      | Floating      | 7.18%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                                       | RR Donnelley & Sons Co                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   1090000 | PA      | $1118525.30   | 0.21%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                                        | Argentine Republic Government International Bond                                 | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    496326 | PA      | $406987.39    | 0.08%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| CA MAGNUM HOLDINGS                                           | CA Magnum Holdings                                                               | CUSIP: 12674CAA1<br>LEI: 549300ZRDHFR078MFZ78 | Long             | DBT              | CORP              | MU        |    840000 | PA      | $836693.17    | 0.16%             | 2026-10-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                       | Venture Global LNG Inc                                                           | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1174621.80   | 0.23%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Black Diamond CLO Ltd                                        | Black Diamond CLO 2021-1 Ltd                                                     | CUSIP: 09204WAM6<br>LEI: 549300IEWA7GZ3ECTT90 | Long             | ABS-CBDO         | CORP              | KY        |    990000 | PA      | $990791.90    | 0.19%             | 2034-11-22      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                                      | JetBlue Airways Corp / JetBlue Loyalty LP                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    820000 | PA      | $806777.13    | 0.15%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Flutter Entertainment Public Limited Company                 | FLUTTER FINANCING BV                                                             | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |   2952600 | PA      | $2942753.08   | 0.56%             | 2032-06-04      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                     | Permian Resources Operating LLC                                                  | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3505719.00   | 0.67%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                       | EquipmentShare.com Inc                                                           | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    610000 | PA      | $615361.90    | 0.12%             | 2028-05-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                 | Voya CLO 2018-2 Ltd                                                              | CUSIP: 92917JAN7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    940000 | PA      | $943498.77    | 0.18%             | 2031-07-15      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                                | CommScope LLC                                                                    | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    210000 | PA      | $214177.16    | 0.04%             | 2031-12-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                         | LIFEPOINT HEALTH INC                                                             | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    694575 | PA      | $695909.05    | 0.13%             | 2031-05-16      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                        | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    990000 | PA      | $987147.12    | 0.19%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Mountain View CLO Ltd                                        | Mountain View CLO IX Ltd                                                         | CUSIP: 62432BAU7<br>LEI: 549300URXZ1TS31FK720 | Long             | ABS-CBDO         | CORP              | KY        |    440000 | PA      | $441672.13    | 0.08%             | 2031-07-15      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                          | Freddie Mac STACR REMIC Trust 2021-DNA5                                          | CUSIP: 35564KHE2<br>LEI: 5493000ISU5NYXNHD479 | Long             | ABS-MBS          | CORP              | US        |     39831 | PA      | $39924.81     | 0.01%             | 2034-01-25      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                      | Starwood Property Trust Inc                                                      | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              | CORP              | US        |   2890000 | PA      | $3047400.96   | 0.58%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| IIP OPERATING PARTNER                                        | IIP Operating Partnership LP                                                     | CUSIP: 44988FAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1480000 | PA      | $1462657.79   | 0.28%             | 2026-05-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                       | Venture Global LNG Inc                                                           | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   5500000 | PA      | $5651338.00   | 1.08%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| PPM Clo, Ltd.                                                | PPM CLO 8 Ltd                                                                    | CUSIP: 69382DAJ3<br>LEI: 254900DMFVRHGLYIFG95 | Long             | ABS-CBDO         | CORP              | KY        |   1210000 | PA      | $1216559.65   | 0.23%             | 2038-04-20      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| MVW Owner Trust                                              | MVW 2021-1W LLC                                                                  | CUSIP: 55389TAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    176321 | PA      | $169122.10    | 0.03%             | 2041-01-22      | Fixed         | 1.94%                 | No            |                  2 | On Loan: No      |
| ALLEN MEDIA LLC/CO-ISSR                                      | Allen Media LLC / Allen Media Co-Issuer Inc                                      | CUSIP: 01771YAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1730000 | PA      | $769850.00    | 0.15%             | 2028-02-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                        | American Airlines Inc                                                            | CUSIP: 023771T32<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    950000 | PA      | $972631.36    | 0.19%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                       | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1630000 | PA      | $1635229.04   | 0.31%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                        | Bausch Health Cos Inc                                                            | CUSIP: 071734AJ6<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    655000 | PA      | $472418.75    | 0.09%             | 2030-01-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                            | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |   1970000 | PA      | $2013369.55   | 0.39%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                      | Millrose Properties Inc                                                          | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1950000 | PA      | $1977086.69   | 0.38%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                            | Magnetite XXXIX Ltd                                                              | CUSIP: 559923AE7<br>LEI: 529900728SHVCI48J015 | Long             | ABS-CBDO         | CORP              | KY        |   1040000 | PA      | $1036884.89   | 0.20%             | 2037-01-25      | Floating      | 8.76%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                              | NEXUS BUYER LLC                                                                  | CUSIP: 65343UAJ1<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |    330000 | PA      | $331113.75    | 0.06%             | 2031-07-31      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                            | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    900000 | PA      | $942605.10    | 0.18%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                                       | RR Donnelley & Sons Co                                                           | CUSIP: 257867BK6<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |   2220000 | PA      | $2233930.50   | 0.43%             | 2029-08-01      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2020-R01                                     | CUSIP: 20754CAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    260000 | PA      | $266647.11    | 0.05%             | 2040-01-25      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                     | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2980000 | PA      | $3093943.28   | 0.59%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                       | EquipmentShare.com Inc                                                           | CUSIP: 29450YAB5<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2323991.30   | 0.45%             | 2032-05-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                                               | Ryan Specialty LLC                                                               | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |    750000 | PA      | $763185.75    | 0.15%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BANCO SANTANDER SA                                           | Banco Santander SA                                                               | CUSIP: 05971KAQ2<br>LEI: 5493006QMFDDMYWIAM13 | Long             | DBT              | CORP              | ES        |   1200000 | PA      | $1464242.40   | 0.28%             | N/A             | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                                        | Bath & Body Works Inc                                                            | CUSIP: 501797AN4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2418271.20   | 0.46%             | 2028-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                      | United Rentals North America Inc                                                 | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   2500000 | PA      | $2567837.50   | 0.49%             | 2029-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                        | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAD1<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $989280.24    | 0.19%             | 2029-12-04      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                   | Verus Securitization Trust 2023-8                                                | CUSIP: 92540DAE5<br>LEI: 213800DTJD5UKJR53O34 | Long             | ABS-MBS          | CORP              | US        |    930000 | PA      | $945630.51    | 0.18%             | 2068-12-25      | Variable      | 8.08%                 | No            |                  2 | On Loan: No      |
| Bear Mountain Park CLO, Ltd                                  | Bear Mountain Park CLO Ltd                                                       | CUSIP: 07403KAE3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    980000 | PA      | $975668.60    | 0.19%             | 2037-07-15      | Floating      | 9.85%                 | No            |                  2 | On Loan: No      |
| Peninsula Pacific Entertainment LLC                          | PENINSULA PACIFIC ENTERTAINMENT DEVELOPMENT LLC                                  | CUSIP: 70715SAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    912083 | PA      | $913223.13    | 0.18%             | 2032-10-01      | Floating      | 8.74%                 | No            |                  3 | On Loan: No      |
| Ocean Trails CLO                                             | Ocean Trails CLO XII Ltd                                                         | CUSIP: 67515DBA5<br>LEI: 549300RF4JV7XJ3EV147 | Long             | ABS-CBDO         | CORP              | JE        |    550000 | PA      | $554038.82    | 0.11%             | 2035-07-20      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                | DISH DBS Corp                                                                    | CUSIP: 25470XAY1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2327000 | PA      | $2305432.20   | 0.44%             | 2026-07-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VERICAST CORPORATION                                         | VERICAST CORP                                                                    | CUSIP: 92342KAD1<br>LEI: 549300J73P7FL8TVF308 | Long             | LON              | CORP              | US        |     59150 | PA      | $57641.45     | 0.01%             | 2026-06-16      | Floating      | 11.62%                | No            |                  2 | On Loan: No      |
| EMPIRE COMMUNITIES CORP                                      | Empire Communities Corp                                                          | CUSIP: 29163VAG8<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |   2520000 | PA      | $2579900.05   | 0.49%             | 2029-05-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                | Carnival Corp                                                                    | CUSIP: 143658CB6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   5090000 | PA      | $5156107.34   | 0.99%             | 2029-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                                   | Air Canada                                                                       | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |   1170000 | PA      | $1161750.45   | 0.22%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                                         | Range Resources Corp                                                             | CUSIP: 75281ABJ7<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $2041622.00   | 0.39%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                        | Bausch Health Cos Inc                                                            | CUSIP: 071734AK3<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   1820000 | PA      | $1494675.00   | 0.29%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                     | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   3280000 | PA      | $3402573.60   | 0.65%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                                     | Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd                                 | CUSIP: 84859BAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   2075088 | PA      | $1104984.24   | 0.21%             | 2030-03-12      | Variable      | 11.00%                | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                       | Venture Global LNG Inc                                                           | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1880000 | PA      | $2024549.44   | 0.39%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| UNITED AIR 2020-1 B PTT                                      | United Airlines 2020-1 Class B Pass Through Trust                                | CUSIP: 90932VAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    119145 | PA      | $119172.55    | 0.02%             | 2026-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                           | Viking Cruises Ltd                                                               | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |   4500000 | PA      | $4528263.74   | 0.87%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Spirit Aviation Holdings Inc                                 | Spirit Aviation Holdings Inc                                                     | CUSIP: 84863V101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     80264 | NS      | $28895.04     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| FULL HOUSE RESORTS INC                                       | Full House Resorts Inc                                                           | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |   2770000 | PA      | $2461506.01   | 0.47%             | 2028-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                  | BNP Paribas SA                                                                   | CUSIP: 05602XDJ4<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |    480000 | PA      | $513361.92    | 0.10%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                               | Bombardier Inc                                                                   | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    370000 | PA      | $385719.66    | 0.07%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                      | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92840JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   1000000 | PA      | $966681.60    | 0.19%             | 2030-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC                                         | Vermilion Energy Inc                                                             | CUSIP: 923725AD7<br>LEI: 8945009D1HGCJC8M8A68 | Long             | DBT              | CORP              | CA        |   2000000 | PA      | $1905514.80   | 0.37%             | 2030-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                        | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |   1790000 | PA      | $1857969.88   | 0.36%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                               | Rocket Cos Inc                                                                   | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1341798.90   | 0.26%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                          | CLYDESDALE ACQUISITION HOLDINGS INC                                              | CUSIP: 18972FAF9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |     12750 | PA      | $12736.55     | 0.00%             | 2032-04-01      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                       | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    470000 | PA      | $482328.10    | 0.09%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                              | CDS NABORS INDUSTRIES INC                                                        | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-37642.68    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Global Medical Response Inc                                  | GLOBAL MEDICAL RESPONSE                                                          | CUSIP: 37956SAB0<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | LON              | CORP              | US        |   1270000 | PA      | $1276845.30   | 0.24%             | 2032-10-01      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                     | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1220000 | PA      | $1107284.20   | 0.21%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                     | Service Properties Trust                                                         | CUSIP: 81761LAD4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   2450000 | PA      | $2436116.59   | 0.47%             | 2029-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                      | Dryden 113 CLO Ltd                                                               | CUSIP: 26253EBR8<br>LEI: 254900XN9Y85HJGYJ219 | Long             | ABS-CBDO         | CORP              | JE        |    870000 | PA      | $875857.88    | 0.17%             | 2037-10-15      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| Peninsula Pacific Entertainment LLC                          | PENINSULA PACIFIC ENTERTAINMENT DEVELOPMENT LLC                                  | CUSIP: 70715SAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    213917 | PA      | $214184.37    | 0.04%             | 2032-10-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| BOMBARDIER INC                                               | Bombardier Inc                                                                   | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   4000000 | PA      | $4319008.00   | 0.83%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                     | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    290000 | PA      | $292775.88    | 0.06%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ARCTIC CANADIAN DIAMONDS                                     | ARCTIC CANADIAN DIAMONDS                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |       871 | NS      | $12520.16     | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| Nexus Buyer LLC                                              | NEXUS BUYER LLC                                                                  | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |   1970162 | PA      | $1960035.49   | 0.38%             | 2031-07-31      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                               | NRG Energy Inc                                                                   | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   2740000 | PA      | $2761126.66   | 0.53%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                               | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1151.82     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Thermostat Purchaser III Inc                                 | THERMOSTAT PURCHASER III INC                                                     | CUSIP: 88366MAE4<br>LEI: 254900K7OD47ERJZN242 | Long             | LON              | CORP              | US        |   1886604 | PA      | $1889745.50   | 0.36%             | 2028-08-31      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                     | Lloyds Banking Group PLC                                                         | CUSIP: 53944YAV5<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |   1480000 | PA      | $1604864.09   | 0.31%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WW International Inc                                         | WW International Inc                                                             | CUSIP: 98262P200<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | EC               | CORP              | US        |     14399 | NS      | $501373.18    | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| COREWEAVE INC                                                | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    610000 | PA      | $616771.61    | 0.12%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| PERMIAN PRODUCTION                                           | PERMIAN PRODUCTION                                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     37916 | NS      | $0.00         | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NYC Commercial Mortgage Trust                                | NYC Commercial Mortgage Trust 2025-28L                                           | CUSIP: 67123JAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1400000 | PA      | $1397303.74   | 0.27%             | 2038-11-05      | Variable      | 9.32%                 | No            |                  2 | On Loan: No      |
| Apex Credit CLO LLC                                          | Apex Credit CLO 2019-II Ltd                                                      | CUSIP: 03755CBJ2<br>LEI: 549300OKB854VBBC1981 | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1103354.78   | 0.21%             | 2038-01-25      | Floating      | 7.36%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINANCING I                                       | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAE0<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |   2240000 | PA      | $2248303.37   | 0.43%             | 2033-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                                | CommScope LLC                                                                    | CUSIP: 203372AX5<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   1604000 | PA      | $1600341.28   | 0.31%             | 2029-09-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                             | CIFC Funding 2021-I Ltd                                                          | CUSIP: 12563EAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $503967.15    | 0.10%             | 2037-07-25      | Floating      | 7.01%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                               | USD/AUD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-538.59      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                       | First Brands Group LLC                                                           | CUSIP: 31935HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1337600 | PA      | $445420.80    | 0.09%             | 2027-03-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| US RENAL CARE INC                                            | US Renal Care Inc                                                                | CUSIP: 90355YAA5<br>LEI: 54930058SS5MF69JGN89 | Long             | DBT              | CORP              | US        |    693000 | PA      | $606375.00    | 0.12%             | 2028-06-28      | Fixed         | 10.62%                | No            |                  2 | On Loan: No      |
| PM GENERAL PURCHASER LLC                                     | PM General Purchaser LLC                                                         | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5800000 | PA      | $5045352.43   | 0.97%             | 2028-10-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                      | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |   3000000 | PA      | $2910940.50   | 0.56%             | 2032-04-01      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| ACUSHNET CO                                                  | Acushnet Co                                                                      | CUSIP: 005095AA2<br>LEI: 549300H805O14KEFES79 | Long             | DBT              | CORP              | US        |   1320000 | PA      | $1370741.45   | 0.26%             | 2028-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Ameriquest Mortgage Securities                               | Ameriquest Mort Sec Inc Asset Bk Pass Thr Cert Ser 2002-C                        | CUSIP: 03072SDF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    656143 | PA      | $695296.55    | 0.13%             | 2032-11-25      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                     | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3963120.00   | 0.76%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                     | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    630000 | PA      | $630660.24    | 0.12%             | 2026-07-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                              | Madison IAQ LLC                                                                  | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |    300000 | PA      | $293959.32    | 0.06%             | 2028-06-30      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                             | Getty Images Inc                                                                 | CUSIP: 374276AR4<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    810000 | PA      | $817451.86    | 0.16%             | 2030-11-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                              | CDS AMERICAN AIRLINES GROUP INC                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $25544.62     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| WW International Inc                                         | WW INTERNATIONAL INC                                                             | CUSIP: 92941PAE3<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | LON              | CORP              | US        |    735798 | PA      | $657008.54    | 0.13%             | 2030-06-25      | Floating      | 10.80%                | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                          | Charles Schwab Corp/The                                                          | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    790000 | PA      | $741713.62    | 0.14%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                             | Connecticut Avenue Securities Trust 2022-R01                                     | CUSIP: 20754LAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    100000 | PA      | $102300.00    | 0.02%             | 2041-12-25      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| SUMMIT MIDSTREAM HOLDING                                     | Summit Midstream Holdings LLC                                                    | CUSIP: 86614JAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    520000 | PA      | $529428.12    | 0.10%             | 2029-10-31      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| CREDIT SUISSE ESCROW CL                                      | CREDIT SUISSE ESCROW CL                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1010000 | PA      | $0.00         | 0.00%             | 2050-01-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| MCCLATCHY MEDIA CO LLC                                       | Mcclatchy Media Co LLC                                                           | CUSIP: 00456LAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3313206 | PA      | $3723215.16   | 0.71%             | 2031-12-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                | DISH DBS Corp                                                                    | CUSIP: 25470XBE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1340000 | PA      | $1319322.86   | 0.25%             | 2026-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| State Street SPDR Bloomberg Short Term High Yield Bond ETF   | State Street SPDR Bloomberg Short Term High Yield Bond ETF                       | CUSIP: 78468R408<br>LEI: 549300YI2V5ELVW58659 | Long             | EC               | RF                | US        |    192650 | NS      | $4901016.00   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| ECHOSTAR CORP                                                | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |    517020 | PA      | $534071.32    | 0.10%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                     | Hess Midstream Operations LP                                                     | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1140000 | PA      | $1164207.90   | 0.22%             | 2028-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                          | NCL Corp Ltd                                                                     | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   2760000 | PA      | $2760418.42   | 0.53%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Qualitytech, LP                                              | QUALITYTECH LP                                                                   | CUSIP: 74758JAB3<br>LEI: 549300GWD2FYVWRWCZ90 | Long             | LON              | CORP              | US        |   1532300 | PA      | $1538046.13   | 0.30%             | 2031-11-04      | Floating      | 7.61%                 | No            |                  3 | On Loan: No      |
| SHELF DRILL HOLD LTD                                         | Shelf Drilling Holdings Ltd                                                      | CUSIP: 822538AH7<br>LEI: 54930078ZJ3XP4MRYB68 | Long             | DBT              | CORP              | KY        |   1980000 | PA      | $2083451.04   | 0.40%             | 2029-04-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                     | Univision Communications Inc                                                     | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    840000 | PA      | $887571.49    | 0.17%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                       | Cloud Software Group Inc                                                         | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   1700000 | PA      | $1713894.10   | 0.33%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                | Carnival Corp                                                                    | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    250000 | PA      | $258017.53    | 0.05%             | 2031-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                       | Cloud Software Group Inc                                                         | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |   2060000 | PA      | $2132501.70   | 0.41%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| DCert Buyer Inc                                              | Dcert Buyer Inc                                                                  | CUSIP: 24022KAJ8<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |   1450000 | PA      | $1312554.50   | 0.25%             | 2029-02-19      | Floating      | 10.96%                | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                         | LifePoint Health Inc                                                             | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |   4650000 | PA      | $5132914.40   | 0.98%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                      | TALEN ENERGY SUPPLY LLC                                                          | CUSIP: 87422LBA7<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    820000 | PA      | $820512.50    | 0.16%             | 2032-10-11      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                           | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2024-1                    | CUSIP: 35563PW21<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    320000 | PA      | $275943.36    | 0.05%             | 2063-11-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                                             | StoneX Group Inc                                                                 | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    910000 | PA      | $964565.42    | 0.19%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                      | United Rentals North America Inc                                                 | CUSIP: 911365BL7<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   2310000 | PA      | $2327934.84   | 0.45%             | 2030-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                              | Gen Digital Inc                                                                  | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |   1130000 | PA      | $1148450.64   | 0.22%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TWO HARBORS INV CORP                                         | Two Harbors Investment Corp                                                      | CUSIP: 90187BAB7<br>LEI: 549300ZUIBT6KH4HU823 | Long             | DBT              | CORP              | US        |    990000 | PA      | $986040.00    | 0.19%             | 2026-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                     | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1317376.58   | 0.25%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                         | Flutter Treasury DAC                                                             | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |   1470000 | PA      | $1489293.75   | 0.29%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DISH DBS CORP                                                | DISH DBS Corp                                                                    | CUSIP: 25470XBF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1200000 | PA      | $1154079.17   | 0.22%             | 2028-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| QXO Building Products Inc (f/k/a Beacon Roofing Supply Inc.) | QXO INC                                                                          | CUSIP: 07368RAJ0<br>LEI: 549300HDXQWWCBOYXP31 | Long             | LON              | CORP              | US        |    305556 | PA      | $306451.77    | 0.06%             | 2032-04-30      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                      | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAS0<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   2540000 | PA      | $2780400.84   | 0.53%             | 2029-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ESAB CORP                                                    | Esab Corp                                                                        | CUSIP: 29605JAA4<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |   2210000 | PA      | $2264396.94   | 0.43%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                | ZF North America Capital Inc                                                     | CUSIP: 98877DAH8<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1203019.21   | 0.23%             | 2031-03-24      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-22

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

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer