# EDGAR Filing Document

**Accession Number:** 0000764624
**File Stem:** 0000940400-25-014347
**Filing Date:** 2025-12
**Character Count:** 472621
**Document Hash:** a247db9088325631d8454ef0110b4117
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-014347.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0000940400-25-014347

**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:** 251598338

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

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

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

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

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

## Series and Classes Contracts Data

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

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

## Nport-Ex

Schedule of Investments (unaudited)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity <br>Date<br>| &nbsp;&nbsp; Face <br>Amount†<br>| Value |
| **Corporate Bonds & Notes — 40.5%** | **Corporate Bonds & Notes — 40.5%** | **Corporate Bonds & Notes — 40.5%** | **Corporate Bonds & Notes — 40.5%** | **Corporate Bonds & Notes — 40.5%** |
| **Communication Services — 8.3%** | **Communication Services — 8.3%** | **Communication Services — 8.3%** | **Communication Services — 8.3%** | **Communication Services — 8.3%** |
| *Diversified Telecommunication Services — 1.4%* | *Diversified Telecommunication Services — 1.4%* | *Diversified Telecommunication Services — 1.4%* | *Diversified Telecommunication Services — 1.4%* | *Diversified Telecommunication Services — 1.4%* |
| &nbsp;&nbsp;&nbsp; Altice Financing SA, Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 1900000<br>| &nbsp;&nbsp;&nbsp; $1384644<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; 348000<br>| &nbsp;&nbsp;&nbsp; 327578<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; 1578705<br>| &nbsp;&nbsp;&nbsp; 1512980<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 800904<br>| &nbsp;&nbsp;&nbsp; 769624<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Level 3 Financing Inc., Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 6/30/33 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 338277<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Turk Telekomunikasyon AS, Senior Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 5/20/29 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 652672<br> <sup>(a)</sup><br>|
| *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | &nbsp;&nbsp; *4985775* |
| *Entertainment — 0.7%* | *Entertainment — 0.7%* | *Entertainment — 0.7%* | *Entertainment — 0.7%* | *Entertainment — 0.7%* |
| &nbsp;&nbsp;&nbsp; Allen Media LLC/Allen Media Co-Issuer Inc., Senior Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 1860000<br>| &nbsp;&nbsp;&nbsp; 827700<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; 310000<br>| &nbsp;&nbsp;&nbsp; 263848<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; 810000<br>| &nbsp;&nbsp;&nbsp; 820631<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Warnermedia Holdings Inc., Senior Notes | &nbsp;&nbsp; 4.279% | &nbsp;&nbsp; 3/15/32 | &nbsp;&nbsp; 536000<br>| &nbsp;&nbsp;&nbsp; 491612<br>|
| *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | &nbsp;&nbsp; *2403791* |
| *Interactive Media & Services — 0.3%* | *Interactive Media & Services — 0.3%* | *Interactive Media & Services — 0.3%* | *Interactive Media & Services — 0.3%* | *Interactive Media & Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; Meta Platforms Inc., Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 11/15/45 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1041651*<br> <sup>(b)</sup><br>|
| *Media — 5.2%* | *Media — 5.2%* | *Media — 5.2%* | *Media — 5.2%* | *Media — 5.2%* |
| &nbsp;&nbsp;&nbsp; AMC Networks Inc., Senior Secured Notes | &nbsp;&nbsp; 10.250% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 157587<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 2/1/31 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 742993<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 6/1/29 | &nbsp;&nbsp; 830000<br>| &nbsp;&nbsp;&nbsp; 815291<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 392232<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; 180000<br>| &nbsp;&nbsp;&nbsp; 179159<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DirecTV Financing LLC/DirecTV Financing Co-Obligor Inc., Senior Secured <br> Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 299135<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; DISH Network Corp., Senior Secured Notes | &nbsp;&nbsp; 11.750% | &nbsp;&nbsp; 11/15/27 | &nbsp;&nbsp; 1430000<br>| &nbsp;&nbsp;&nbsp; 1506373<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EchoStar Corp., Senior Secured Notes | &nbsp;&nbsp; 10.750% | &nbsp;&nbsp; 11/30/29 | &nbsp;&nbsp; 1576050<br>| &nbsp;&nbsp;&nbsp; 1736184<br>|
| &nbsp;&nbsp;&nbsp; Getty Images Inc., Senior Secured Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 11/15/30 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 282576<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gray Media Inc., Secured Notes | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 392383<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gray Media Inc., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 362648<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Grupo Televisa SAB, Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/13/45 | &nbsp;&nbsp; 740000<br>| &nbsp;&nbsp;&nbsp; 513303<br>|
| &nbsp;&nbsp;&nbsp; iHeartCommunications Inc., Senior Secured Notes | &nbsp;&nbsp; 9.125% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 285000<br>| &nbsp;&nbsp;&nbsp; 262570<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; 7836390<br>| &nbsp;&nbsp;&nbsp; 8806143<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Time Warner Cable LLC, Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 339102<br>|
| &nbsp;&nbsp;&nbsp; Univision Communications Inc., Senior Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 8/1/32 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; 306423<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; 320000<br>| &nbsp;&nbsp;&nbsp; 326385<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; 440000<br>| &nbsp;&nbsp;&nbsp; 393210<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; 240000<br>| &nbsp;&nbsp;&nbsp; 244826<br> <sup>(a)</sup><br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *18058523* |
| *Wireless Telecommunication Services — 0.7%* | *Wireless Telecommunication Services — 0.7%* | *Wireless Telecommunication Services — 0.7%* | *Wireless Telecommunication Services — 0.7%* | *Wireless Telecommunication Services — 0.7%* |
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 11.750% | &nbsp;&nbsp; 1/31/29 | &nbsp;&nbsp; 720000<br>| &nbsp;&nbsp;&nbsp; 569222<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSC Holdings LLC, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 1260000<br>| &nbsp;&nbsp;&nbsp; 867965<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Millicom International Cellular SA, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 3/25/29 | &nbsp;&nbsp; 333000<br>| &nbsp;&nbsp;&nbsp; 336182<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* | *Wireless Telecommunication Services — continued* |
| &nbsp;&nbsp;&nbsp; Millicom International Cellular SA, Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 4/27/31 | &nbsp;&nbsp; 482000<br>| &nbsp;&nbsp;&nbsp; $450670<br> <sup>(a)</sup><br>|
| *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | *Total Wireless Telecommunication Services* | &nbsp;&nbsp; *2224039* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **28713779** |
| **Consumer Discretionary — 5.2%** | **Consumer Discretionary — 5.2%** | **Consumer Discretionary — 5.2%** | **Consumer Discretionary — 5.2%** | **Consumer Discretionary — 5.2%** |
| *Automobile Components — 0.7%* | *Automobile Components — 0.7%* | *Automobile Components — 0.7%* | *Automobile Components — 0.7%* | *Automobile Components — 0.7%* |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 10/15/33 | &nbsp;&nbsp; 590000<br>| &nbsp;&nbsp;&nbsp; 591439<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., Senior Secured Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 120000<br>| &nbsp;&nbsp;&nbsp; 120448<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; 625000<br>| &nbsp;&nbsp;&nbsp; 654820<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>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 3/24/31 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; 413839<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/23/32 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 438547<br> <sup>(a)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *2413956* |
| *Automobiles — 0.7%* | *Automobiles — 0.7%* | *Automobiles — 0.7%* | *Automobiles — 0.7%* | *Automobiles — 0.7%* |
| &nbsp;&nbsp;&nbsp; PM General Purchaser LLC, Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp; 2590000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *2253011*<br> <sup>(a)</sup><br>|
| *Broadline Retail — 0.2%* | *Broadline Retail — 0.2%* | *Broadline Retail — 0.2%* | *Broadline Retail — 0.2%* | *Broadline Retail — 0.2%* |
| &nbsp;&nbsp;&nbsp; MercadoLibre Inc., Senior Notes | &nbsp;&nbsp; 3.125% | &nbsp;&nbsp; 1/14/31 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp; 369011<br>|
| &nbsp;&nbsp;&nbsp; Prosus NV, Senior Notes | &nbsp;&nbsp; 3.061% | &nbsp;&nbsp; 7/13/31 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp; 419138<br> <sup>(a)</sup><br>|
| *Total Broadline Retail* | *Total Broadline Retail* | *Total Broadline Retail* | *Total Broadline Retail* | &nbsp;&nbsp; *788149* |
| *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* | *Diversified Consumer Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Carriage Services Inc., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *861474*<br> <sup>(a)</sup><br>|
| *Hotels, Restaurants & Leisure — 2.4%* | *Hotels, Restaurants & Leisure — 2.4%* | *Hotels, Restaurants & Leisure — 2.4%* | *Hotels, Restaurants & Leisure — 2.4%* | *Hotels, Restaurants & Leisure — 2.4%* |
| &nbsp;&nbsp;&nbsp; Carnival Corp., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 540000<br>| &nbsp;&nbsp;&nbsp; 547013<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Carnival Corp., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 515933<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Full House Resorts Inc., Senior Secured Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 1860000<br>| &nbsp;&nbsp;&nbsp; 1652852<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Light & Wonder International Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 10/1/33 | &nbsp;&nbsp; 440000<br>| &nbsp;&nbsp;&nbsp; 438486<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Melco Resorts Finance Ltd., Senior Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 4/17/32 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; 305452<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; 440000<br>| &nbsp;&nbsp;&nbsp; 443243<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 470000<br>| &nbsp;&nbsp;&nbsp; 470071<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 9/15/33 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; 273252<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; 500000<br>| &nbsp;&nbsp;&nbsp; 504388<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 2/1/33 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp; 369704<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 5.400% | &nbsp;&nbsp; 8/8/28 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 817651<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 2.850% | &nbsp;&nbsp; 3/8/29 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 502466<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 8/8/31 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp; 193422<br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; 563517<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 10/15/33 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 640831<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 220000<br>| &nbsp;&nbsp;&nbsp; 236419<br> <sup>(a)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *8474700* |
| *Household Durables — 0.4%* | *Household Durables — 0.4%* | *Household Durables — 0.4%* | *Household Durables — 0.4%* | *Household Durables — 0.4%* |
| &nbsp;&nbsp;&nbsp; Dream Finders Homes Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 9/15/30 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 517897<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TopBuild Corp., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 1/31/34 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 823941<br> <sup>(a)</sup><br>|
| *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | &nbsp;&nbsp; *1341838* |
| *Specialty Retail — 0.6%* | *Specialty Retail — 0.6%* | *Specialty Retail — 0.6%* | *Specialty Retail — 0.6%* | *Specialty Retail — 0.6%* |
| &nbsp;&nbsp;&nbsp; Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; 250511<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; 1090000<br>| &nbsp;&nbsp;&nbsp; 1118763<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Specialty Retail — continued* | *Specialty Retail — continued* | *Specialty Retail — continued* | *Specialty Retail — continued* | *Specialty Retail — continued* |
| &nbsp;&nbsp;&nbsp; Michaels Cos. Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 170000<br>| &nbsp;&nbsp;&nbsp; $150025<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; 430000<br>| &nbsp;&nbsp;&nbsp; 403676<br> <sup>(a)</sup><br>|
| *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *1922975* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **18056103** |
| **Consumer Staples — 0.4%** | **Consumer Staples — 0.4%** | **Consumer Staples — 0.4%** | **Consumer Staples — 0.4%** | **Consumer Staples — 0.4%** |
| *Beverages — 0.1%* | *Beverages — 0.1%* | *Beverages — 0.1%* | *Beverages — 0.1%* | *Beverages — 0.1%* |
| &nbsp;&nbsp;&nbsp; Primo Water Holdings Inc./Triton Water Holdings Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 320000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *320837*<br> <sup>(a)</sup><br>|
| *Food Products — 0.3%* | *Food Products — 0.3%* | *Food Products — 0.3%* | *Food Products — 0.3%* | *Food Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; TKC Holdings Inc., Senior Notes | &nbsp;&nbsp; 10.500% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 957653<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; 190000<br>| &nbsp;&nbsp;&nbsp; 191784<br> <sup>(a)</sup><br>|
| *Total Food Products* | *Total Food Products* | *Total Food Products* | *Total Food Products* | &nbsp;&nbsp; *1149437* |
| **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **1470274** |
| **Energy — 8.5%** | **Energy — 8.5%** | **Energy — 8.5%** | **Energy — 8.5%** | **Energy — 8.5%** |
| *Energy Equipment & Services — 0.7%* | *Energy Equipment & Services — 0.7%* | *Energy Equipment & Services — 0.7%* | *Energy Equipment & Services — 0.7%* | *Energy Equipment & Services — 0.7%* |
| &nbsp;&nbsp;&nbsp; Nabors Industries Inc., Senior Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 8/15/31 | &nbsp;&nbsp; 810000<br>| &nbsp;&nbsp;&nbsp; 770496<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Noble Finance II LLC, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 440000<br>| &nbsp;&nbsp;&nbsp; 456961<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; 822000<br>| &nbsp;&nbsp;&nbsp; 864948<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; WBI Operating LLC, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 10/15/33 | &nbsp;&nbsp; 450000<br>| &nbsp;&nbsp;&nbsp; 450286<br> <sup>(a)</sup><br>|
| *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | *Total Energy Equipment & Services* | &nbsp;&nbsp; *2542691* |
| *Oil, Gas & Consumable Fuels — 7.8%* | *Oil, Gas & Consumable Fuels — 7.8%* | *Oil, Gas & Consumable Fuels — 7.8%* | *Oil, Gas & Consumable Fuels — 7.8%* | *Oil, Gas & Consumable Fuels — 7.8%* |
| &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; 370000<br>| &nbsp;&nbsp;&nbsp; 369713<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp; 326305<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chord Energy Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 330992<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chord Energy Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 286164<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC, Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 802809<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Devon Energy Corp., Senior Notes | &nbsp;&nbsp; 5.600% | &nbsp;&nbsp; 7/15/41 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp; 347844<br>|
| &nbsp;&nbsp;&nbsp; Ecopetrol SA, Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 1/19/36 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 591358<br>|
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, Senior Notes | &nbsp;&nbsp; 5.350% | &nbsp;&nbsp; 5/15/45 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 439510<br>|
| &nbsp;&nbsp;&nbsp; EQT Corp., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 6/1/30 | &nbsp;&nbsp; 170000<br>| &nbsp;&nbsp;&nbsp; 187341<br>|
| &nbsp;&nbsp;&nbsp; Galaxy Pipeline Assets Bidco Ltd., Senior Secured Notes | &nbsp;&nbsp; 1.750% | &nbsp;&nbsp; 9/30/27 | &nbsp;&nbsp; 63863<br>| &nbsp;&nbsp;&nbsp; 62281<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Granite Ridge Resources Inc., Senior Notes | &nbsp;&nbsp; 8.875% | &nbsp;&nbsp; 10/31/29 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp; 988800<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC, Senior Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 120000<br>| &nbsp;&nbsp;&nbsp; 125858<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC, Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 690974<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; 2866216<br>| &nbsp;&nbsp;&nbsp; 2980865<br> <sup>(a)(e)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Northern Oil & Gas Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 10/15/33 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; 516672<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 6.450% | &nbsp;&nbsp; 9/15/36 | &nbsp;&nbsp; 445000<br>| &nbsp;&nbsp;&nbsp; 472791<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 7.950% | &nbsp;&nbsp; 6/15/39 | &nbsp;&nbsp; 1920000<br>| &nbsp;&nbsp;&nbsp; 2272163<br>|
| &nbsp;&nbsp;&nbsp; Pan American Energy LLC, Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 4/30/32 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 409613<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; PBF Holding Co. LLC/PBF Finance Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp; 208607<br>|
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 860000<br>| &nbsp;&nbsp;&nbsp; 892906<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/1/33 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 723107<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Petrobras Global Finance BV, Senior Notes | &nbsp;&nbsp; 6.850% | &nbsp;&nbsp; 6/5/2115 | &nbsp;&nbsp; 690000<br>| &nbsp;&nbsp;&nbsp; 665816<br>|
| &nbsp;&nbsp;&nbsp; Plains All American Pipeline LP, Junior Subordinated Notes (3 mo. Term <br> SOFR + 4.372%) | &nbsp;&nbsp; 8.583% | &nbsp;&nbsp; 11/30/25 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 611669<br> <sup>(g)(h)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* |
| &nbsp;&nbsp;&nbsp; Puma International Financing SA, Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 4/25/29 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp; $548940<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; QazaqGaz NC JSC, Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 9/26/27 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 477000<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Range Resources Corp., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 2/15/30 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; 421071<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 7/15/38 | &nbsp;&nbsp; 240000<br>| &nbsp;&nbsp;&nbsp; 261126<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/40 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; 577880<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; 875000<br>| &nbsp;&nbsp;&nbsp; 889232<br> <sup>(a)(g)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sunoco LP, Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 520660<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 12/31/30 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 148971<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC, Senior Secured Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 8/15/31 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 842031<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; 690000<br>| &nbsp;&nbsp;&nbsp; 743053<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global LNG Inc., Senior Secured Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp; 1630000<br>| &nbsp;&nbsp;&nbsp; 1742107<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 5/1/35 | &nbsp;&nbsp; 130000<br>| &nbsp;&nbsp;&nbsp; 146783<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Plaquemines LNG LLC, Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 1/15/36 | &nbsp;&nbsp; 1450000<br>| &nbsp;&nbsp;&nbsp; 1536632<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vermilion Energy Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/33 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; 397502<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 5.450% | &nbsp;&nbsp; 4/1/44 | &nbsp;&nbsp; 1580000<br>| &nbsp;&nbsp;&nbsp; 1427209<br>|
| &nbsp;&nbsp;&nbsp; Western Midstream Operating LP, Senior Notes | &nbsp;&nbsp; 5.300% | &nbsp;&nbsp; 3/1/48 | &nbsp;&nbsp; 1160000<br>| &nbsp;&nbsp;&nbsp; 1002630<br>|
| *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | &nbsp;&nbsp; *26986985* |
| **Total Energy** | **Total Energy** | **Total Energy** | **Total Energy** | &nbsp;&nbsp; **29529676** |
| **Financials — 4.4%** | **Financials — 4.4%** | **Financials — 4.4%** | **Financials — 4.4%** | **Financials — 4.4%** |
| *Banks — 2.3%* | *Banks — 2.3%* | *Banks — 2.3%* | *Banks — 2.3%* | *Banks — 2.3%* |
| &nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA, Junior Subordinated Notes (7.500% to <br> 6/27/29 then 10 year Treasury Constant Maturity Rate + 5.470%) | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 6/27/29 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 533866<br> <sup>(a)(g)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank of Nova Scotia, Junior Subordinated Notes (8.000% to 1/27/29 then <br> 5 year Treasury Constant Maturity Rate + 4.017%) | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 1/27/84 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 640811<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Junior Subordinated Notes (4.000% to 12/10/25 then 5 year <br> Treasury Constant Maturity Rate + 3.597%) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/10/25 | &nbsp;&nbsp; 540000<br>| &nbsp;&nbsp;&nbsp; 539674<br> <sup>(g)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cooperatieve Rabobank UA, Junior Subordinated Notes (4.625% to <br> 12/29/25 then EUR 5 year Swap Rate + 4.098%) | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 12/29/25 | &nbsp;&nbsp; 1400000 <br><sup>EUR</sup><br>| &nbsp;&nbsp;&nbsp; 1618495<br> <sup>(d)(g)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA, Senior Notes | &nbsp;&nbsp; 7.800% | &nbsp;&nbsp; 11/28/53 | &nbsp;&nbsp; 1330000<br>| &nbsp;&nbsp;&nbsp; 1647585<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, Junior Subordinated Notes (8.000% to 3/27/30 <br> then 5 year Treasury Constant Maturity Rate + 3.913%) | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 9/27/29 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp; 433747<br> <sup>(g)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, Junior Subordinated Notes (8.500% to 9/27/28 <br> then U.K. Government Bonds 5 year Note Generic Bid Yield + 5.143%) | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 3/27/28 | &nbsp;&nbsp; 930000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 1298130<br> <sup>(g)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; NatWest Group PLC, Junior Subordinated Notes (4.500% to 9/30/28 then <br> U.K. Government Bonds 5 Year Note Generic Bid Yield + 3.992%) | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 3/31/28 | &nbsp;&nbsp; 1150000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 1464454<br> <sup>(g)(h)</sup><br>|
| *Total Banks* | *Total Banks* | *Total Banks* | *Total Banks* | &nbsp;&nbsp; *8176762* |
| *Capital Markets — 0.9%* | *Capital Markets — 0.9%* | *Capital Markets — 0.9%* | *Capital Markets — 0.9%* | *Capital Markets — 0.9%* |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao, Senior Notes | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 9/20/31 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 451332<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Suisse AG AT1 Claim | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 5380000<br>| &nbsp;&nbsp;&nbsp; 0<br> \*<sup>(e)(f)(i)</sup><br>|
| &nbsp;&nbsp;&nbsp; StoneX Escrow Issuer LLC, Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp; 352075<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (7.125% to 2/10/35 then USD 5 <br> year SOFR ICE Swap Rate + 3.179%) | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 8/10/34 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 794364<br> <sup>(a)(g)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (7.750% to 4/12/31 then USD 5 <br> year SOFR ICE Swap Rate + 4.160%) | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 4/12/31 | &nbsp;&nbsp; 1040000<br>| &nbsp;&nbsp;&nbsp; 1108152<br> <sup>(a)(g)(h)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Capital Markets — continued* | *Capital Markets — continued* | *Capital Markets — continued* | *Capital Markets — continued* | *Capital Markets — continued* |
| &nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (9.250% to 11/13/28 then 5 <br> year Treasury Constant Maturity Rate + 4.745%) | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 11/13/28 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; $414628<br> <sup>(a)(g)(h)</sup><br>|
| *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *3120551* |
| *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* | *Consumer Finance — 0.1%* |
| &nbsp;&nbsp;&nbsp; FirstCash Inc., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *351721*<br> <sup>(a)</sup><br>|
| *Financial Services — 0.9%* | *Financial Services — 0.9%* | *Financial Services — 0.9%* | *Financial Services — 0.9%* | *Financial Services — 0.9%* |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes <br> (6.950% to 3/10/30 then 5 year Treasury Constant Maturity Rate + 2.720%) | &nbsp;&nbsp; 6.950% | &nbsp;&nbsp; 3/10/55 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 525981<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Block Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 726480<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; 90000<br>| &nbsp;&nbsp;&nbsp; 94514<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 11/1/32 | &nbsp;&nbsp; 160000<br>| &nbsp;&nbsp;&nbsp; 162950<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; 360000<br>| &nbsp;&nbsp;&nbsp; 375818<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rocket Cos. Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 540000<br>| &nbsp;&nbsp;&nbsp; 557363<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc., Senior Notes | &nbsp;&nbsp; 3.625% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; 278828<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SGUS LLC, Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 270755<br>| &nbsp;&nbsp;&nbsp; 234883<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VFH Parent LLC/Valor Co-Issuer Inc., Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; 282800<br> <sup>(a)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *3239617* |
| *Insurance — 0.1%* | *Insurance — 0.1%* | *Insurance — 0.1%* | *Insurance — 0.1%* | *Insurance — 0.1%* |
| &nbsp;&nbsp;&nbsp; APH Somerset Investor 2 LLC/APH2 Somerset Investor 2 LLC/APH3 <br> Somerset Investor 2 LLC, Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 11/1/29 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *278311*<br> <sup>(a)</sup><br>|
| *Mortgage Real Estate Investment Trusts (REITs) — 0.1%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.1%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.1%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.1%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.1%* |
| &nbsp;&nbsp;&nbsp; Arbor Realty SR Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 254475<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., Senior <br> Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 18000<br>| &nbsp;&nbsp;&nbsp; 18922<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; *273397* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **15440359** |
| **Health Care — 2.9%** | **Health Care — 2.9%** | **Health Care — 2.9%** | **Health Care — 2.9%** | **Health Care — 2.9%** |
| *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP/Medline Co-Issuer Inc., Senior Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *793102*<br> <sup>(a)</sup><br>|
| *Health Care Providers & Services — 1.5%* | *Health Care Providers & Services — 1.5%* | *Health Care Providers & Services — 1.5%* | *Health Care Providers & Services — 1.5%* | *Health Care Providers & Services — 1.5%* |
| &nbsp;&nbsp;&nbsp; Akumin Inc., Senior Secured Notes (8.000% Cash or 9.000% PIK) | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 8/1/27 | &nbsp;&nbsp; 1080000<br>| &nbsp;&nbsp;&nbsp; 1008654<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 1710000<br>| &nbsp;&nbsp;&nbsp; 1552013<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Secured Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 4/1/30 | &nbsp;&nbsp; 120000<br>| &nbsp;&nbsp;&nbsp; 100948<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 5/15/30 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 356545<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 752626<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; 690000<br>| &nbsp;&nbsp;&nbsp; 745796<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Renal Care Inc., Senior Secured Notes | &nbsp;&nbsp; 10.625% | &nbsp;&nbsp; 6/28/28 | &nbsp;&nbsp; 602000<br>| &nbsp;&nbsp;&nbsp; 526750<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; *5043332* |
| *Health Care Technology — 0.3%* | *Health Care Technology — 0.3%* | *Health Care Technology — 0.3%* | *Health Care Technology — 0.3%* | *Health Care Technology — 0.3%* |
| &nbsp;&nbsp;&nbsp; Claritev Corp., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/31/31 | &nbsp;&nbsp; 887200<br>| &nbsp;&nbsp;&nbsp; 714196<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC, Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 12/31/30 | &nbsp;&nbsp; 98392<br>| &nbsp;&nbsp;&nbsp; 89438<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC, Senior Secured Notes (6.500% Cash and <br> 5.000% PIK) | &nbsp;&nbsp; 11.500% | &nbsp;&nbsp; 12/31/30 | &nbsp;&nbsp; 161664<br>| &nbsp;&nbsp;&nbsp; 174535<br> <sup>(a)(c)</sup><br>|
| *Total Health Care Technology* | *Total Health Care Technology* | *Total Health Care Technology* | *Total Health Care Technology* | &nbsp;&nbsp; *978169* |
| *Pharmaceuticals — 0.9%* | *Pharmaceuticals — 0.9%* | *Pharmaceuticals — 0.9%* | *Pharmaceuticals — 0.9%* | *Pharmaceuticals — 0.9%* |
| &nbsp;&nbsp;&nbsp; 1261229 BC Ltd., Senior Secured Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 4/15/32 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 837020<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Pharmaceuticals — continued* | *Pharmaceuticals — continued* | *Pharmaceuticals — continued* | *Pharmaceuticals — continued* | *Pharmaceuticals — continued* |
| &nbsp;&nbsp;&nbsp; Bausch Health Americas Inc., Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 1/31/27 | &nbsp;&nbsp; 180000<br>| &nbsp;&nbsp;&nbsp; $179382<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 360000<br>| &nbsp;&nbsp;&nbsp; 331310<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bausch Health Cos. Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 100000<br>| &nbsp;&nbsp;&nbsp; 82125<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Co. LLC, Senior Notes | &nbsp;&nbsp; 6.150% | &nbsp;&nbsp; 2/1/36 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 346224<br>|
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands III BV, Senior Notes | &nbsp;&nbsp; 4.100% | &nbsp;&nbsp; 10/1/46 | &nbsp;&nbsp; 1800000<br>| &nbsp;&nbsp;&nbsp; 1353952<br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *3130013* |
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **9944616** |
| **Industrials — 4.5%** | **Industrials — 4.5%** | **Industrials — 4.5%** | **Industrials — 4.5%** | **Industrials — 4.5%** |
| *Aerospace & Defense — 0.4%* | *Aerospace & Defense — 0.4%* | *Aerospace & Defense — 0.4%* | *Aerospace & Defense — 0.4%* | *Aerospace & Defense — 0.4%* |
| &nbsp;&nbsp;&nbsp; AAR Escrow Issuer LLC, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp; 216973<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Axon Enterprise Inc., Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 3/15/30 | &nbsp;&nbsp; 90000<br>| &nbsp;&nbsp;&nbsp; 92658<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Axon Enterprise Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 190000<br>| &nbsp;&nbsp;&nbsp; 196860<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bombardier Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 6/1/32 | &nbsp;&nbsp; 940000<br>| &nbsp;&nbsp;&nbsp; 988073<br> <sup>(a)</sup><br>|
| *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | &nbsp;&nbsp; *1494564* |
| *Building Products — 0.2%* | *Building Products — 0.2%* | *Building Products — 0.2%* | *Building Products — 0.2%* | *Building Products — 0.2%* |
| &nbsp;&nbsp;&nbsp; Advanced Drainage Systems Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/30/27 | &nbsp;&nbsp; 230000<br>| &nbsp;&nbsp;&nbsp; 229603<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Quikrete Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 3/1/32 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; 301012<br> <sup>(a)</sup><br>|
| *Total Building Products* | *Total Building Products* | *Total Building Products* | *Total Building Products* | &nbsp;&nbsp; *530615* |
| *Commercial Services & Supplies — 1.0%* | *Commercial Services & Supplies — 1.0%* | *Commercial Services & Supplies — 1.0%* | *Commercial Services & Supplies — 1.0%* | *Commercial Services & Supplies — 1.0%* |
| &nbsp;&nbsp;&nbsp; CoreCivic Inc., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 962478<br>|
| &nbsp;&nbsp;&nbsp; GEO Group Inc., Senior Notes | &nbsp;&nbsp; 10.250% | &nbsp;&nbsp; 4/15/31 | &nbsp;&nbsp; 760000<br>| &nbsp;&nbsp;&nbsp; 832951<br>|
| &nbsp;&nbsp;&nbsp; RR Donnelley & Sons Co., Senior Secured Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 760000<br>| &nbsp;&nbsp;&nbsp; 779889<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vortex Opco LLC, Senior Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 4/30/30 | &nbsp;&nbsp; 1616406<br>| &nbsp;&nbsp;&nbsp; 165682<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wrangler Holdco Corp., Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 830000<br>| &nbsp;&nbsp;&nbsp; 868119<br> <sup>(a)</sup><br>|
| *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | &nbsp;&nbsp; *3609119* |
| *Construction & Engineering — 0.5%* | *Construction & Engineering — 0.5%* | *Construction & Engineering — 0.5%* | *Construction & Engineering — 0.5%* | *Construction & Engineering — 0.5%* |
| &nbsp;&nbsp;&nbsp; CalAtlantic Group LLC, Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/1/26 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 248600<br>|
| &nbsp;&nbsp;&nbsp; Tutor Perini Corp., Senior Notes | &nbsp;&nbsp; 11.875% | &nbsp;&nbsp; 4/30/29 | &nbsp;&nbsp; 1260000<br>| &nbsp;&nbsp;&nbsp; 1407192<br> <sup>(a)</sup><br>|
| *Total Construction & Engineering* | *Total Construction & Engineering* | *Total Construction & Engineering* | *Total Construction & Engineering* | &nbsp;&nbsp; *1655792* |
| *Ground Transportation — 0.3%* | *Ground Transportation — 0.3%* | *Ground Transportation — 0.3%* | *Ground Transportation — 0.3%* | *Ground Transportation — 0.3%* |
| &nbsp;&nbsp;&nbsp; Carriage Purchaser Inc., Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 10/15/29 | &nbsp;&nbsp; 1171000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1096807*<br> <sup>(a)</sup><br>|
| *Machinery — 0.4%* | *Machinery — 0.4%* | *Machinery — 0.4%* | *Machinery — 0.4%* | *Machinery — 0.4%* |
| &nbsp;&nbsp;&nbsp; Park-Ohio Industries Inc., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 840000<br>| &nbsp;&nbsp;&nbsp; 858152<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TK Elevator US Newco Inc., Senior Secured Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 7/15/27 | &nbsp;&nbsp; 320000<br>| &nbsp;&nbsp;&nbsp; 319865<br> <sup>(a)</sup><br>|
| *Total Machinery* | *Total Machinery* | *Total Machinery* | *Total Machinery* | &nbsp;&nbsp; *1178017* |
| *Passenger Airlines — 0.9%* | *Passenger Airlines — 0.9%* | *Passenger Airlines — 0.9%* | *Passenger Airlines — 0.9%* | *Passenger Airlines — 0.9%* |
| &nbsp;&nbsp;&nbsp; American Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 204765<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; 560000<br>| &nbsp;&nbsp;&nbsp; 584588<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; 400000<br>| &nbsp;&nbsp;&nbsp; 403829<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; 710000<br>| &nbsp;&nbsp;&nbsp; 698551<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Latam Airlines Group SA, Senior Secured Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 496992<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; 1074694<br>| &nbsp;&nbsp;&nbsp; 572,274<br> \*<sup>(a)(j)</sup><br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *2960999* |
| *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; Herc Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 293255<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Trading Companies & Distributors — continued* | *Trading Companies & Distributors — continued* | *Trading Companies & Distributors — continued* | *Trading Companies & Distributors — continued* | *Trading Companies & Distributors — continued* |
| &nbsp;&nbsp;&nbsp; Herc Holdings Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 6/15/33 | &nbsp;&nbsp; 160000<br>| &nbsp;&nbsp;&nbsp; $168811<br> <sup>(a)</sup><br>|
| *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | *Total Trading Companies & Distributors* | &nbsp;&nbsp; *462066* |
| *Transportation Infrastructure — 0.7%* | *Transportation Infrastructure — 0.7%* | *Transportation Infrastructure — 0.7%* | *Transportation Infrastructure — 0.7%* | *Transportation Infrastructure — 0.7%* |
| &nbsp;&nbsp;&nbsp; DP World Ltd., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 9/25/48 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 481740<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gatwick Airport Finance PLC, Senior Secured Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 4/7/26 | &nbsp;&nbsp; 1080000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 1411981<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Railworks Holdings LP/Railworks Rally Inc., Secured Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 11/15/28 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 613288<br> <sup>(a)</sup><br>|
| *Total Transportation Infrastructure* | *Total Transportation Infrastructure* | *Total Transportation Infrastructure* | *Total Transportation Infrastructure* | &nbsp;&nbsp; *2507009* |
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **15494988** |
| **Information Technology — 2.0%** | **Information Technology — 2.0%** | **Information Technology — 2.0%** | **Information Technology — 2.0%** | **Information Technology — 2.0%** |
| *Communications Equipment — 0.6%* | *Communications Equipment — 0.6%* | *Communications Equipment — 0.6%* | *Communications Equipment — 0.6%* | *Communications Equipment — 0.6%* |
| &nbsp;&nbsp;&nbsp; CommScope LLC, Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp; 640000<br>| &nbsp;&nbsp;&nbsp; 643360<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CommScope Technologies LLC, Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/15/27 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 977022<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/15/29 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 349854<br> <sup>(a)</sup><br>|
| *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | &nbsp;&nbsp; *1970236* |
| *Electronic Equipment, Instruments & Components — 0.3%* | *Electronic Equipment, Instruments & Components — 0.3%* | *Electronic Equipment, Instruments & Components — 0.3%* | *Electronic Equipment, Instruments & Components — 0.3%* | *Electronic Equipment, Instruments & Components — 0.3%* |
| &nbsp;&nbsp;&nbsp; EquipmentShare.com Inc., Secured Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 5/15/28 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; 433780<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EquipmentShare.com Inc., Secured Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 5/15/32 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 717406<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; *1151186* |
| *IT Services — 0.4%* | *IT Services — 0.4%* | *IT Services — 0.4%* | *IT Services — 0.4%* | *IT Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; CoreWeave Inc., Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 6/1/30 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; 262886<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; CoreWeave Inc., Senior Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 2/1/31 | &nbsp;&nbsp; 740000<br>| &nbsp;&nbsp;&nbsp; 743089<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance Sub Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; 268763<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments Finance Sub Inc., Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 5/15/33 | &nbsp;&nbsp; 190000 <br><sup>EUR</sup><br>| &nbsp;&nbsp;&nbsp; 227038<br> <sup>(a)</sup><br>|
| *Total IT Services* | *Total IT Services* | *Total IT Services* | *Total IT Services* | &nbsp;&nbsp; *1501776* |
| *Semiconductors & Semiconductor Equipment — 0.3%* | *Semiconductors & Semiconductor Equipment — 0.3%* | *Semiconductors & Semiconductor Equipment — 0.3%* | *Semiconductors & Semiconductor Equipment — 0.3%* | *Semiconductors & Semiconductor Equipment — 0.3%* |
| &nbsp;&nbsp;&nbsp; Intel Corp., Senior Notes | &nbsp;&nbsp; 5.700% | &nbsp;&nbsp; 2/10/53 | &nbsp;&nbsp; 260000<br>| &nbsp;&nbsp;&nbsp; 250132<br>|
| &nbsp;&nbsp;&nbsp; Qnity Electronics Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp; 359873<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Qnity Electronics Inc., Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 420000<br>| &nbsp;&nbsp;&nbsp; 427931<br> <sup>(a)</sup><br>|
| *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | &nbsp;&nbsp; *1037936* |
| *Software — 0.2%* | *Software — 0.2%* | *Software — 0.2%* | *Software — 0.2%* | *Software — 0.2%* |
| &nbsp;&nbsp;&nbsp; Citrix Systems Inc., Senior Secured Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 12/1/27 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 320932<br>|
| &nbsp;&nbsp;&nbsp; Cloud Software Group Inc., Senior Secured Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 300966<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gen Digital Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/1/33 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 206389<br> <sup>(a)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *828287* |
| *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* | *Technology Hardware, Storage & Peripherals — 0.2%* |
| &nbsp;&nbsp;&nbsp; Vericast Corp./Harland Clarke/Checks in the Mail/Valassis Comm/Valassis <br> Direct, Secured Notes | &nbsp;&nbsp; 13.000% | &nbsp;&nbsp; 12/15/30 | &nbsp;&nbsp; 524157<br>| &nbsp;&nbsp;&nbsp;&nbsp; *638162*<br> <sup>(a)</sup><br>|
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **7127583** |
| **Materials — 1.3%** | **Materials — 1.3%** | **Materials — 1.3%** | **Materials — 1.3%** | **Materials — 1.3%** |
| *Chemicals — 0.3%* | *Chemicals — 0.3%* | *Chemicals — 0.3%* | *Chemicals — 0.3%* | *Chemicals — 0.3%* |
| &nbsp;&nbsp;&nbsp; Cerdia Finanz GmbH, Senior Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 10/3/31 | &nbsp;&nbsp; 240000<br>| &nbsp;&nbsp;&nbsp; 251235<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; OCP SA, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 5/2/34 | &nbsp;&nbsp; 470000<br>| &nbsp;&nbsp;&nbsp; 510972<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sasol Financing USA LLC, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 3/18/31 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; 229615<br>|
| *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | &nbsp;&nbsp; *991822* |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Containers & Packaging — 0.1%* | *Containers & Packaging — 0.1%* | *Containers & Packaging — 0.1%* | *Containers & Packaging — 0.1%* | *Containers & Packaging — 0.1%* |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging <br> Finance PLC, Senior Secured Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp; $*290930*<br> <sup>(a)</sup><br>|
| *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* | *Metals & Mining — 0.7%* |
| &nbsp;&nbsp;&nbsp; Capstone Copper Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/31/33 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; 279596<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; 970000<br>| &nbsp;&nbsp;&nbsp; 1017090<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 3/1/33 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 829946<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/34 | &nbsp;&nbsp; 420000<br>| &nbsp;&nbsp;&nbsp; 436504<br> <sup>(a)</sup><br>|
| *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | &nbsp;&nbsp; *2563136* |
| *Paper & Forest Products — 0.2%* | *Paper & Forest Products — 0.2%* | *Paper & Forest Products — 0.2%* | *Paper & Forest Products — 0.2%* | *Paper & Forest Products — 0.2%* |
| &nbsp;&nbsp;&nbsp; Suzano Austria GmbH, Senior Notes | &nbsp;&nbsp; 3.125% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; *502283*<br>|
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **4348171** |
| **Real Estate — 1.1%** | **Real Estate — 1.1%** | **Real Estate — 1.1%** | **Real Estate — 1.1%** | **Real Estate — 1.1%** |
| *Diversified REITs — 0.5%* | *Diversified REITs — 0.5%* | *Diversified REITs — 0.5%* | *Diversified REITs — 0.5%* | *Diversified REITs — 0.5%* |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 945000<br>| &nbsp;&nbsp;&nbsp; 909964<br>|
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., Senior Notes | &nbsp;&nbsp; 3.692% | &nbsp;&nbsp; 6/5/28 | &nbsp;&nbsp; 150000 <br><sup>GBP</sup><br>| &nbsp;&nbsp;&nbsp; 167319<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; 390000<br>| &nbsp;&nbsp;&nbsp; 408976<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Trust Fibra Uno, Senior Notes | &nbsp;&nbsp; 4.869% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 381342<br> <sup>(a)</sup><br>|
| *Total Diversified REITs* | *Total Diversified REITs* | *Total Diversified REITs* | *Total Diversified REITs* | &nbsp;&nbsp; *1867601* |
| *Health Care REITs — 0.1%* | *Health Care REITs — 0.1%* | *Health Care REITs — 0.1%* | *Health Care REITs — 0.1%* | *Health Care REITs — 0.1%* |
| &nbsp;&nbsp;&nbsp; Diversified Healthcare Trust, Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *353950*<br> <sup>(a)</sup><br>|
| *Real Estate Management & Development — 0.2%* | *Real Estate Management & Development — 0.2%* | *Real Estate Management & Development — 0.2%* | *Real Estate Management & Development — 0.2%* | *Real Estate Management & Development — 0.2%* |
| &nbsp;&nbsp;&nbsp; Country Garden Holdings Co. Ltd., Senior Secured Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 1/27/24 | &nbsp;&nbsp; 620000<br>| &nbsp;&nbsp;&nbsp; 61,492<br> \*<sup>(d)(k)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield US Borrower LLC, Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 5/15/28 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 282426<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Five Point Operating Co. LP, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp; 470469<br> <sup>(a)</sup><br>|
| *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | &nbsp;&nbsp; *814387* |
| *Specialized REITs — 0.3%* | *Specialized REITs — 0.3%* | *Specialized REITs — 0.3%* | *Specialized REITs — 0.3%* | *Specialized REITs — 0.3%* |
| &nbsp;&nbsp;&nbsp; Millrose Properties Inc., Senior Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 710000<br>| &nbsp;&nbsp;&nbsp; 719862<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Millrose Properties Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 9/15/32 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp; 211191<br> <sup>(a)</sup><br>|
| *Total Specialized REITs* | *Total Specialized REITs* | *Total Specialized REITs* | *Total Specialized REITs* | &nbsp;&nbsp; *931053* |
| **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **3966991** |
| **Utilities — 1.9%** | **Utilities — 1.9%** | **Utilities — 1.9%** | **Utilities — 1.9%** | **Utilities — 1.9%** |
| *Electric Utilities — 1.5%* | *Electric Utilities — 1.5%* | *Electric Utilities — 1.5%* | *Electric Utilities — 1.5%* | *Electric Utilities — 1.5%* |
| &nbsp;&nbsp;&nbsp; Alpha Generation LLC, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 843388<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Edison International, Junior Subordinated Notes (5.375% to 3/15/26 then 5 <br> year Treasury Constant Maturity Rate + 4.698%) | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 3/9/26 | &nbsp;&nbsp; 740000<br>| &nbsp;&nbsp;&nbsp; 733763<br> <sup>(g)(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; NRG Energy Inc., Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp; 312390<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NRG Energy Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 11/1/34 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 381219<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NRG Energy Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 1/15/36 | &nbsp;&nbsp; 1550000<br>| &nbsp;&nbsp;&nbsp; 1577680<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Pampa Energia SA, Senior Notes | &nbsp;&nbsp; 7.950% | &nbsp;&nbsp; 9/10/31 | &nbsp;&nbsp; 370000<br>| &nbsp;&nbsp;&nbsp; 382265<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Pampa Energia SA, Senior Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 12/16/34 | &nbsp;&nbsp; 130000<br>| &nbsp;&nbsp;&nbsp; 131924<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 2/1/36 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; 580344<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vistra Operations Co. LLC, Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 294750<br> <sup>(a)</sup><br>|
| *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | &nbsp;&nbsp; *5237723* |
| *Independent Power and Renewable Electricity Producers — 0.4%* | *Independent Power and Renewable Electricity Producers — 0.4%* | *Independent Power and Renewable Electricity Producers — 0.4%* | *Independent Power and Renewable Electricity Producers — 0.4%* | *Independent Power and Renewable Electricity Producers — 0.4%* |
| &nbsp;&nbsp;&nbsp; Lightning Power LLC, Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 8/15/32 | &nbsp;&nbsp; 490000<br>| &nbsp;&nbsp;&nbsp; 520369<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransAlta Corp., Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 3/15/40 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp; 355219<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Independent Power and Renewable Electricity Producers — continued* | *Independent Power and Renewable Electricity Producers — continued* | *Independent Power and Renewable Electricity Producers — continued* | *Independent Power and Renewable Electricity Producers — continued* | *Independent Power and Renewable Electricity Producers — continued* |
| &nbsp;&nbsp;&nbsp; VoltaGrid LLC, Secured Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 11/1/30 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp; $346010<br> <sup>(a)(b)</sup><br>|
| *Total Independent Power and Renewable Electricity Producers* | *Total Independent Power and Renewable Electricity Producers* | *Total Independent Power and Renewable Electricity Producers* | *Total Independent Power and Renewable Electricity Producers* | &nbsp;&nbsp; *1221598* |
| **Total Utilities** | **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **6459321** |
| **Total Corporate Bonds & Notes (Cost — $141,178,355)** | **Total Corporate Bonds & Notes (Cost — $141,178,355)** | **Total Corporate Bonds & Notes (Cost — $141,178,355)** | **Total Corporate Bonds & Notes (Cost — $141,178,355)** | &nbsp;&nbsp; **140551861** |
| **Collateralized Mortgage Obligations**<sup>(l)</sup> **— 19.2%** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— 19.2%** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— 19.2%** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— 19.2%** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— 19.2%** |
| &nbsp;&nbsp;&nbsp; 280 Park Avenue Mortgage Trust, 2017-280P D (1 mo. Term SOFR + <br> 1.836%) | &nbsp;&nbsp; 5.920% | &nbsp;&nbsp; 9/15/34 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1081599<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Alternative Loan Trust, 2006-18CB A6 PAC (-4.000 x 1 mo. Term SOFR + <br> 28.142%) | &nbsp;&nbsp; 12.178% | &nbsp;&nbsp; 7/25/36 | &nbsp;&nbsp; 215707<br>| &nbsp;&nbsp;&nbsp; 229427<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust, 2022-3 A3 | &nbsp;&nbsp; 4.116% | &nbsp;&nbsp; 1/25/67 | &nbsp;&nbsp; 965106<br>| &nbsp;&nbsp;&nbsp; 906608<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; ARES Commercial Mortgage Trust, 2024-IND2 A (1 mo. Term SOFR + <br> 1.443%) | &nbsp;&nbsp; 5.475% | &nbsp;&nbsp; 10/15/34 | &nbsp;&nbsp; 965000<br>| &nbsp;&nbsp;&nbsp; 966835<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BANK, 2019-BN22 A4 | &nbsp;&nbsp; 2.978% | &nbsp;&nbsp; 11/15/62 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 623904<br>|
| &nbsp;&nbsp;&nbsp; BANK, 2022-BNK44 D | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/32 | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 796638<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BANK, 2023-BNK46 D | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/15/56 | &nbsp;&nbsp; 1180000<br>| &nbsp;&nbsp;&nbsp; 950120<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; BANK, 2024-BNK48 A5 | &nbsp;&nbsp; 5.053% | &nbsp;&nbsp; 10/15/57 | &nbsp;&nbsp; 665000<br>| &nbsp;&nbsp;&nbsp; 679285<br>|
| &nbsp;&nbsp;&nbsp; Bank of America Merrill Lynch Commercial Mortgage Trust, 2017-BNK3 D | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 2/15/50 | &nbsp;&nbsp; 1150000<br>| &nbsp;&nbsp;&nbsp; 1050171<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust, 2023-V3 D | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 7/15/56 | &nbsp;&nbsp; 1321000<br>| &nbsp;&nbsp;&nbsp; 1180481<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; BIG Commercial Mortgage Trust, 2022-BIG F (1 mo. Term SOFR + 5.436%) | &nbsp;&nbsp; 9.468% | &nbsp;&nbsp; 2/15/39 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 1002499<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BRAVO Residential Funding Trust, 2025-NQM7 A3 | &nbsp;&nbsp; 5.814% | &nbsp;&nbsp; 7/25/65 | &nbsp;&nbsp; 164304<br>| &nbsp;&nbsp;&nbsp; 165380<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2019-IMC F (1 mo. Term SOFR + 2.946%) | &nbsp;&nbsp; 6.978% | &nbsp;&nbsp; 4/15/34 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 1023584<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2022-LP2 G (1 mo. Term SOFR + 4.106%) | &nbsp;&nbsp; 8.138% | &nbsp;&nbsp; 2/15/39 | &nbsp;&nbsp; 987000<br>| &nbsp;&nbsp;&nbsp; 987217<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2024-KING E (1 mo. Term SOFR + 3.688%) | &nbsp;&nbsp; 7.720% | &nbsp;&nbsp; 5/15/34 | &nbsp;&nbsp; 1056097<br>| &nbsp;&nbsp;&nbsp; 1064160<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2021-ARIA G (1 mo. Term SOFR + 3.257%) | &nbsp;&nbsp; 7.289% | &nbsp;&nbsp; 10/15/36 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1099457<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2021-LBA DJV (1 mo. Term SOFR + 1.714%) | &nbsp;&nbsp; 5.747% | &nbsp;&nbsp; 2/15/36 | &nbsp;&nbsp; 970000<br>| &nbsp;&nbsp;&nbsp; 970494<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2021-SDMF F (1 mo. Term SOFR + 2.051%) | &nbsp;&nbsp; 6.083% | &nbsp;&nbsp; 9/15/34 | &nbsp;&nbsp; 1053253<br>| &nbsp;&nbsp;&nbsp; 1046558<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2024-CNYN D (1 mo. Term SOFR + 2.690%) | &nbsp;&nbsp; 6.722% | &nbsp;&nbsp; 4/15/41 | &nbsp;&nbsp; 980479<br>| &nbsp;&nbsp;&nbsp; 985477<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; CD Mortgage Trust, 2017-CD5 A4 | &nbsp;&nbsp; 3.431% | &nbsp;&nbsp; 8/15/50 | &nbsp;&nbsp; 10000<br>| &nbsp;&nbsp;&nbsp; 9823<br>|
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, 2017-P8 XA, IO | &nbsp;&nbsp; 0.857% | &nbsp;&nbsp; 9/15/50 | &nbsp;&nbsp; 20265703<br>| &nbsp;&nbsp;&nbsp; 222730<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, 2023-SMRT A | &nbsp;&nbsp; 5.820% | &nbsp;&nbsp; 10/12/40 | &nbsp;&nbsp; 950000<br>| &nbsp;&nbsp;&nbsp; 978406<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; CSMC Trust, 2017-CHOP H (PRIME + 4.294%) | &nbsp;&nbsp; 11.544% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1054549<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dwight Issuer LLC, 2025-FL1 A (1 mo. Term SOFR + 1.662%) | &nbsp;&nbsp; 5.693% | &nbsp;&nbsp; 6/18/42 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1101946<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Extended Stay America Trust, 2025-ESH D (1 mo. Term SOFR + 2.600%) | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 10/15/42 | &nbsp;&nbsp; 690000<br>| &nbsp;&nbsp;&nbsp; 696525<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured <br> Pass-Through Certificates, K115 X1, IO | &nbsp;&nbsp; 1.314% | &nbsp;&nbsp; 6/25/30 | &nbsp;&nbsp; 1473518<br>| &nbsp;&nbsp;&nbsp; 75383<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency <br> Credit Risk Trust, 2021-DNA3 B1 (30 Day Average SOFR + 3.500%) | &nbsp;&nbsp; 7.683% | &nbsp;&nbsp; 10/25/33 | &nbsp;&nbsp; 590000<br>| &nbsp;&nbsp;&nbsp; 661272<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency <br> Credit Risk Trust, 2021-DNA6 B1 (30 Day Average SOFR + 3.400%) | &nbsp;&nbsp; 7.583% | &nbsp;&nbsp; 10/25/41 | &nbsp;&nbsp; 860000<br>| &nbsp;&nbsp;&nbsp; 878653<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency <br> Credit Risk Trust, 2022-DNA2 B1 (30 Day Average SOFR + 4.750%) | &nbsp;&nbsp; 8.933% | &nbsp;&nbsp; 2/25/42 | &nbsp;&nbsp; 1220000<br>| &nbsp;&nbsp;&nbsp; 1273935<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk Transfer <br> Trust, 2018-2 BX | &nbsp;&nbsp; 1.783% | &nbsp;&nbsp; 11/25/57 | &nbsp;&nbsp; 3695570<br>| &nbsp;&nbsp;&nbsp; 1515849<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk Transfer <br> Trust, 2019-3 M | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/25/58 | &nbsp;&nbsp; 1167435<br>| &nbsp;&nbsp;&nbsp; 1148151<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk <br> Securitized Participation Interests Trust, 2017-SPI1 B | &nbsp;&nbsp; 4.105% | &nbsp;&nbsp; 9/25/47 | &nbsp;&nbsp; 620133<br>| &nbsp;&nbsp;&nbsp; 440526<br> <sup>(a)(g)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(l)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2019-R05 1B1 (30 <br> Day Average SOFR + 4.214%) | &nbsp;&nbsp; 8.397% | &nbsp;&nbsp; 7/25/39 | &nbsp;&nbsp; 372457<br>| &nbsp;&nbsp;&nbsp; $379868<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2022-R01 1B1 (30 <br> Day Average SOFR + 3.150%) | &nbsp;&nbsp; 7.333% | &nbsp;&nbsp; 12/25/41 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 685410<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2025-R02 1B1 (30 <br> Day Average SOFR + 1.950%) | &nbsp;&nbsp; 6.133% | &nbsp;&nbsp; 2/25/45 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 1367016<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA), 2012-55 IO, IO | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 4/16/52 | &nbsp;&nbsp; 465014<br>| &nbsp;&nbsp;&nbsp; 5<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Greystone CRE Notes, 2024-HC3 D (1 mo. Term SOFR + 5.333%) | &nbsp;&nbsp; 9.365% | &nbsp;&nbsp; 3/15/41 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 927037<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Greystone CRE Notes LLC, 2025-HC4 AS (1 mo. Term SOFR + 2.240%) | &nbsp;&nbsp; 6.390% | &nbsp;&nbsp; 10/15/42 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 898693<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Corp. II, 2024-70P E | &nbsp;&nbsp; 8.965% | &nbsp;&nbsp; 3/10/41 | &nbsp;&nbsp; 845000<br>| &nbsp;&nbsp;&nbsp; 881508<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Corp. Trust, 2018-LUAU G (1 mo. Term SOFR + <br> 4.747%) | &nbsp;&nbsp; 8.779% | &nbsp;&nbsp; 11/15/32 | &nbsp;&nbsp; 1030000<br>| &nbsp;&nbsp;&nbsp; 1025038<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; GSMPS Mortgage Loan Trust, 2006-RP1 1A2 | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 1/25/36 | &nbsp;&nbsp; 447985<br>| &nbsp;&nbsp;&nbsp; 401372<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; GSMPS Mortgage Loan Trust, 2006-RP2 1AF1 (1 mo. Term SOFR + 0.514%) | &nbsp;&nbsp; 4.506% | &nbsp;&nbsp; 4/25/36 | &nbsp;&nbsp; 1110798<br>| &nbsp;&nbsp;&nbsp; 961495<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; HarborView Mortgage Loan Trust, 2005-9 2A1C (1 mo. Term SOFR + <br> 1.014%) | &nbsp;&nbsp; 5.046% | &nbsp;&nbsp; 6/20/35 | &nbsp;&nbsp; 1371296<br>| &nbsp;&nbsp;&nbsp; 1312924<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; HIH Trust, 2024-61P F (1 mo. Term SOFR + 5.437%) | &nbsp;&nbsp; 9.469% | &nbsp;&nbsp; 10/15/41 | &nbsp;&nbsp; 995106<br>| &nbsp;&nbsp;&nbsp; 1004866<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; IMPAC CMB Trust, 2005-5 A1 (1 mo. Term SOFR + 0.434%) | &nbsp;&nbsp; 4.746% | &nbsp;&nbsp; 8/25/35 | &nbsp;&nbsp; 36902<br>| &nbsp;&nbsp;&nbsp; 35177<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; IMPAC Secured Assets Corp., 2006-3 A7 (1 mo. Term SOFR + 0.654%) | &nbsp;&nbsp; 4.646% | &nbsp;&nbsp; 11/25/36 | &nbsp;&nbsp; 931638<br>| &nbsp;&nbsp;&nbsp; 831384<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; KIND Trust, 2021-KIND D (1 mo. Term SOFR + 2.414%) | &nbsp;&nbsp; 6.450% | &nbsp;&nbsp; 8/15/38 | &nbsp;&nbsp; 932343<br>| &nbsp;&nbsp;&nbsp; 919084<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; MF1 LLC, 2025-FL17 A (1 mo. Term SOFR + 1.320%) | &nbsp;&nbsp; 5.351% | &nbsp;&nbsp; 2/18/40 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 989997<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; MF1 LLC, 2025-FL17 D (1 mo. Term SOFR + 2.741%) | &nbsp;&nbsp; 6.772% | &nbsp;&nbsp; 2/18/40 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp; 457994<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; MF1 LLC, 2025-FL17 E (1 mo. Term SOFR + 3.490%) | &nbsp;&nbsp; 7.521% | &nbsp;&nbsp; 2/18/40 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 386392<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; MF1 Trust, 2024-FL16 A (1 mo. Term SOFR + 1.541%) | &nbsp;&nbsp; 5.572% | &nbsp;&nbsp; 11/18/39 | &nbsp;&nbsp; 975000<br>| &nbsp;&nbsp;&nbsp; 977426<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; MFA Trust, 2023-NQM4 A3 | &nbsp;&nbsp; 6.784% | &nbsp;&nbsp; 12/25/68 | &nbsp;&nbsp; 374343<br>| &nbsp;&nbsp;&nbsp; 378018<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; MHC Commercial Mortgage Trust, 2021-MHC F (1 mo. Term SOFR + <br> 2.715%) | &nbsp;&nbsp; 6.747% | &nbsp;&nbsp; 4/15/38 | &nbsp;&nbsp; 1040000<br>| &nbsp;&nbsp;&nbsp; 1040951<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; MHC Trust, 2021-MHC2 E (1 mo. Term SOFR + 2.064%) | &nbsp;&nbsp; 6.096% | &nbsp;&nbsp; 5/15/38 | &nbsp;&nbsp; 960000<br>| &nbsp;&nbsp;&nbsp; 959965<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust, 2015-UBS8 C | &nbsp;&nbsp; 4.475% | &nbsp;&nbsp; 12/15/48 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 716116<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust, 2021-230P B (1 mo. Term SOFR + 1.563%) | &nbsp;&nbsp; 5.596% | &nbsp;&nbsp; 12/15/38 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 979179<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Capital I Trust, 2021-L7 XA, IO | &nbsp;&nbsp; 1.074% | &nbsp;&nbsp; 10/15/54 | &nbsp;&nbsp; 8819970<br>| &nbsp;&nbsp;&nbsp; 355904<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley Mortgage Loan Trust, 2005-2AR B1 (1 mo. Term SOFR + <br> 0.614%) | &nbsp;&nbsp; 4.606% | &nbsp;&nbsp; 4/25/35 | &nbsp;&nbsp; 797326<br>| &nbsp;&nbsp;&nbsp; 699190<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; MSWF Commercial Mortgage Trust, 2023-1 A4 | &nbsp;&nbsp; 5.472% | &nbsp;&nbsp; 5/15/56 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 855097<br>|
| &nbsp;&nbsp;&nbsp; MSWF Commercial Mortgage Trust, 2023-2 C | &nbsp;&nbsp; 7.018% | &nbsp;&nbsp; 12/15/56 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 988392<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Multifamily CAS Trust, 2020-01 M10 (30 Day Average SOFR + 3.864%) | &nbsp;&nbsp; 8.047% | &nbsp;&nbsp; 3/25/50 | &nbsp;&nbsp; 1117116<br>| &nbsp;&nbsp;&nbsp; 1138607<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Multifamily Trust, 2016-1 B | &nbsp;&nbsp; 11.577% | &nbsp;&nbsp; 4/25/46 | &nbsp;&nbsp; 318540<br>| &nbsp;&nbsp;&nbsp; 318137<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Natixis Commercial Mortgage Securities Trust, 2019-FAME E | &nbsp;&nbsp; 4.398% | &nbsp;&nbsp; 8/15/36 | &nbsp;&nbsp; 660000<br>| &nbsp;&nbsp;&nbsp; 254566<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, 2017-5A B5 | &nbsp;&nbsp; 5.968% | &nbsp;&nbsp; 6/25/57 | &nbsp;&nbsp; 610711<br>| &nbsp;&nbsp;&nbsp; 577169<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nomura Resecuritization Trust, 2015-8R 4A4 | &nbsp;&nbsp; 4.121% | &nbsp;&nbsp; 11/25/47 | &nbsp;&nbsp; 1052977<br>| &nbsp;&nbsp;&nbsp; 977134<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; NYC Commercial Mortgage Trust, 2025-28L F | &nbsp;&nbsp; 8.130% | &nbsp;&nbsp; 11/5/38 | &nbsp;&nbsp; 350000<br>| &nbsp;&nbsp;&nbsp; 350225<br> <sup>(a)(b)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; NYC Commercial Mortgage Trust, 2025-28L G | &nbsp;&nbsp; 9.321% | &nbsp;&nbsp; 11/5/38 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 898267<br> <sup>(a)(b)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; NYMT Loan Trust, 2024-BPL1 A1 | &nbsp;&nbsp; 7.154% | &nbsp;&nbsp; 2/25/29 | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 1016945<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; OBX Trust, 2024-NQM1 A3 | &nbsp;&nbsp; 6.455% | &nbsp;&nbsp; 11/25/63 | &nbsp;&nbsp; 530781<br>| &nbsp;&nbsp;&nbsp; 534862<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ONNI Commercial Mortgage Trust, 2024-APT D | &nbsp;&nbsp; 7.004% | &nbsp;&nbsp; 7/15/39 | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 1045493<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; RIDE, 2025-SHRE D | &nbsp;&nbsp; 6.747% | &nbsp;&nbsp; 2/14/47 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp; 1170428<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; SFO Commercial Mortgage Trust, 2021-555 D (1 mo. Term SOFR + 2.514%) | &nbsp;&nbsp; 6.546% | &nbsp;&nbsp; 5/15/38 | &nbsp;&nbsp; 1070000<br>| &nbsp;&nbsp;&nbsp; 1058608<br> <sup>(a)(g)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(l)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(l)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; SMRT, 2022-MINI D (1 mo. Term SOFR + 1.950%) | &nbsp;&nbsp; 5.983% | &nbsp;&nbsp; 1/15/39 | &nbsp;&nbsp; 850000<br>| &nbsp;&nbsp;&nbsp; $846843<br> <sup>(a)(g)</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; 1030000<br>| &nbsp;&nbsp;&nbsp; 1007236<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp., 2005-RF2 A (1 mo. Term SOFR + 0.464%) | &nbsp;&nbsp; 4.456% | &nbsp;&nbsp; 4/25/35 | &nbsp;&nbsp; 1121677<br>| &nbsp;&nbsp;&nbsp; 1022965<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust, 2025-DATA A (1 mo. Term SOFR + <br> 1.443%) | &nbsp;&nbsp; 5.475% | &nbsp;&nbsp; 2/15/42 | &nbsp;&nbsp; 1150000<br>| &nbsp;&nbsp;&nbsp; 1144576<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Towd Point Mortgage Trust, 2015-1 B1 | &nbsp;&nbsp; 4.573% | &nbsp;&nbsp; 10/25/53 | &nbsp;&nbsp; 1230000<br>| &nbsp;&nbsp;&nbsp; 1192420<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust, 2017-C7 A3 | &nbsp;&nbsp; 3.418% | &nbsp;&nbsp; 12/15/50 | &nbsp;&nbsp; 520417<br>| &nbsp;&nbsp;&nbsp; 513434<br>|
| &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust, 2018-C12 A2 | &nbsp;&nbsp; 4.152% | &nbsp;&nbsp; 8/15/51 | &nbsp;&nbsp; 16977<br>| &nbsp;&nbsp;&nbsp; 16944<br>|
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust, 2023-4 B1 | &nbsp;&nbsp; 8.056% | &nbsp;&nbsp; 5/25/68 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 1054556<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust, 2023-8 A3 | &nbsp;&nbsp; 6.968% | &nbsp;&nbsp; 12/25/68 | &nbsp;&nbsp; 782519<br>| &nbsp;&nbsp;&nbsp; 792414<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust, 2025-R1 A3 | &nbsp;&nbsp; 5.774% | &nbsp;&nbsp; 5/25/65 | &nbsp;&nbsp; 816333<br>| &nbsp;&nbsp;&nbsp; 822520<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; WaMu Mortgage Pass-Through Certificates Trust, 2005-AR19 A1A1 (1 mo. <br> Term SOFR + 0.654%) | &nbsp;&nbsp; 4.646% | &nbsp;&nbsp; 12/25/45 | &nbsp;&nbsp; 19364<br>| &nbsp;&nbsp;&nbsp; 19863<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; WB Commercial Mortgage Trust, 2024-HQ D | &nbsp;&nbsp; 8.011% | &nbsp;&nbsp; 3/15/40 | &nbsp;&nbsp; 650000<br>| &nbsp;&nbsp;&nbsp; 652718<br> <sup>(a)(g)</sup><br>|
| **Total Collateralized Mortgage Obligations (Cost — $66,780,343)** | **Total Collateralized Mortgage Obligations (Cost — $66,780,343)** | **Total Collateralized Mortgage Obligations (Cost — $66,780,343)** | **Total Collateralized Mortgage Obligations (Cost — $66,780,343)** | &nbsp;&nbsp; **66710070** |
| **Senior Loans — 17.5%** | **Senior Loans — 17.5%** | **Senior Loans — 17.5%** | **Senior Loans — 17.5%** | **Senior Loans — 17.5%** |
| **Communication Services — 1.5%** | **Communication Services — 1.5%** | **Communication Services — 1.5%** | **Communication Services — 1.5%** | **Communication Services — 1.5%** |
| *Entertainment — 0.3%* | *Entertainment — 0.3%* | *Entertainment — 0.3%* | *Entertainment — 0.3%* | *Entertainment — 0.3%* |
| &nbsp;&nbsp;&nbsp; EOC Borrower LLC, Term Loan B (1 mo. Term SOFR + 3.000%) | 6.965% | &nbsp;&nbsp; 3/24/32 | &nbsp;&nbsp; 668325<br>| &nbsp;&nbsp;&nbsp; 672642<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; UFC Holdings LLC, Term Loan B5 (3 mo. Term SOFR + 2.000%) | 6.038% | &nbsp;&nbsp; 11/21/31 | &nbsp;&nbsp; 199500<br>| &nbsp;&nbsp;&nbsp; 200171<br> <sup>(g)(m)(n)</sup><br>|
| *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | &nbsp;&nbsp; *872813* |
| *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan B1 (6 mo. Term SOFR + 6.750%) | 10.448% | &nbsp;&nbsp; 10/26/29 | &nbsp;&nbsp; 403868<br>| &nbsp;&nbsp;&nbsp; 394276<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; X Corp., Term Loan B3 | 9.500% | &nbsp;&nbsp; 10/26/29 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 391706<br> <sup>(m)(n)</sup><br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *785982* |
| *Media — 1.0%* | *Media — 1.0%* | *Media — 1.0%* | *Media — 1.0%* | *Media — 1.0%* |
| &nbsp;&nbsp;&nbsp; Diamond Sports Net LLC, First Lien Exit Term Loan (15.000% PIK) | 15.000% | &nbsp;&nbsp; 1/2/28 | &nbsp;&nbsp; 630480<br>| &nbsp;&nbsp;&nbsp; 482317<br> <sup>(c)(m)(n)</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; 857850<br>| &nbsp;&nbsp;&nbsp; 866163<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; MH Sub I LLC, 2023 New Term Loan (3 mo. Term SOFR + 4.250%) | 8.252% | &nbsp;&nbsp; 5/3/28 | &nbsp;&nbsp; 739060<br>| &nbsp;&nbsp;&nbsp; 674026<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; MH Sub I LLC, 2024 New Term Loan (1 mo. Term SOFR + 4.250%) | 8.215% | &nbsp;&nbsp; 12/31/31 | &nbsp;&nbsp; 500227<br>| &nbsp;&nbsp;&nbsp; 404434<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Versant Media Group Inc., 2025 First Lien Term Loan B |  | &nbsp;&nbsp; 10/23/30 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp; 518918<br> <sup>(o)</sup><br>|
| &nbsp;&nbsp;&nbsp; Virgin Media Bristol LLC, Term Loan Facility Y (6 mo. Term SOFR + 3.275%) | 7.052% | &nbsp;&nbsp; 3/31/31 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 686501<br> <sup>(g)(m)(n)</sup><br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *3632359* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **5291154** |
| **Consumer Discretionary — 3.0%** | **Consumer Discretionary — 3.0%** | **Consumer Discretionary — 3.0%** | **Consumer Discretionary — 3.0%** | **Consumer Discretionary — 3.0%** |
| *Automobile Components — 0.3%* | *Automobile Components — 0.3%* | *Automobile Components — 0.3%* | *Automobile Components — 0.3%* | *Automobile Components — 0.3%* |
| &nbsp;&nbsp;&nbsp; ABC Technologies Inc., Term Loan B (1 mo. Term SOFR + 8.250%) | 12.215% | &nbsp;&nbsp; 1/2/40 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 548625<br> <sup>(e)(f)(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clarios Global LP, Amendment No. 6 Dollar Term Loan (1 mo. Term SOFR + <br> 2.750%) | 6.715% | &nbsp;&nbsp; 1/28/32 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp; 311356<br> <sup>(g)(m)(n)</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; 146165<br>| &nbsp;&nbsp;&nbsp; 48673<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Brands Group LLC, 2022 Incremental Term Loan (3 mo. Term SOFR + <br> 5.262%) | 9.570% | &nbsp;&nbsp; 3/30/27 | &nbsp;&nbsp; 571099<br>| &nbsp;&nbsp;&nbsp; 190176<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Brands Group LLC, USD Term Loan |  | &nbsp;&nbsp; 6/29/26 | &nbsp;&nbsp; 66033<br>| &nbsp;&nbsp;&nbsp; 70243<br> <sup>(o)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *1169073* |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Broadline Retail — 0.3%* | *Broadline Retail — 0.3%* | *Broadline Retail — 0.3%* | *Broadline Retail — 0.3%* | *Broadline Retail — 0.3%* |
| &nbsp;&nbsp;&nbsp; Peer Holding III BV, Term Loan B4 (3 mo. Term SOFR + 2.500%) | 6.502% | &nbsp;&nbsp; 10/26/30 | &nbsp;&nbsp; 666659<br>| &nbsp;&nbsp;&nbsp; $670306<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Peer Holding III BV, Term Loan B8 |  | &nbsp;&nbsp; 9/29/32 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp; 210394<br> <sup>(o)</sup><br>|
| *Total Broadline Retail* | *Total Broadline Retail* | *Total Broadline Retail* | *Total Broadline Retail* | &nbsp;&nbsp; *880700* |
| *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* | *Diversified Consumer Services — 0.4%* |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC, Term Loan B1 (6 mo. Term SOFR + <br> 2.000%) | 6.129% | &nbsp;&nbsp; 10/13/30 | &nbsp;&nbsp; 547331<br>| &nbsp;&nbsp;&nbsp; 547041<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; WW International Inc., Take-Back Term Loan (3 mo. Term SOFR + 6.800%) | 10.803% | &nbsp;&nbsp; 6/25/30 | &nbsp;&nbsp; 903472<br>| &nbsp;&nbsp;&nbsp; 806728<br> <sup>(g)(m)(n)</sup><br>|
| *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | &nbsp;&nbsp; *1353769* |
| *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* | *Hotels, Restaurants & Leisure — 1.4%* |
| &nbsp;&nbsp;&nbsp; Allwyn Entertainment Financing US LLC, New Term Loan Facility B (3 mo. <br> Term SOFR + 2.000%) | 5.912% | &nbsp;&nbsp; 6/2/31 | &nbsp;&nbsp; 743103<br>| &nbsp;&nbsp;&nbsp; 734744<br> <sup>(g)(m)(n)</sup><br>|
| &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; 710000<br>| &nbsp;&nbsp;&nbsp; 726642<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Flutter Entertainment Public Ltd. Co., 2024 Term Loan B (3 mo. Term SOFR + <br> 1.750%) | 5.752% | &nbsp;&nbsp; 11/30/30 | &nbsp;&nbsp; 915385<br>| &nbsp;&nbsp;&nbsp; 912867<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Flutter Entertainment Public Ltd. Co., Third Incremental Term Loan B (3 mo. <br> Term SOFR + 2.000%) | 6.002% | &nbsp;&nbsp; 6/4/32 | &nbsp;&nbsp; 917700<br>| &nbsp;&nbsp;&nbsp; 914640<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Kingpin Intermediate Holdings LLC, 2025 First Lien Term Loan B (1 mo. <br> Term SOFR + 3.250%) | 7.215% | &nbsp;&nbsp; 9/22/32 | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 983068<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Peninsula Pacific Entertainment LLC, Closing Date Term Loan Facility B (3 <br> mo. Term SOFR + 4.750%) | 8.735% | &nbsp;&nbsp; 10/1/32 | &nbsp;&nbsp; 615651<br>| &nbsp;&nbsp;&nbsp; 616420<br> <sup>(f)(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Peninsula Pacific Entertainment LLC, Delayed Draw Term Loan Facility B |  | &nbsp;&nbsp; 10/1/32 | &nbsp;&nbsp; 144349<br>| &nbsp;&nbsp;&nbsp; 144530<br> <sup>(f)(p)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *5032911* |
| *Specialty Retail — 0.6%* | *Specialty Retail — 0.6%* | *Specialty Retail — 0.6%* | *Specialty Retail — 0.6%* | *Specialty Retail — 0.6%* |
| &nbsp;&nbsp;&nbsp; Harbor Freight Tools USA Inc., Initial Term Loan (1 mo. Term SOFR + <br> 2.250%) | 6.215% | &nbsp;&nbsp; 6/11/31 | &nbsp;&nbsp; 1044027<br>| &nbsp;&nbsp;&nbsp; 1031818<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lids Holdings Inc., Initial Term Loan (1 mo. Term SOFR + 5.600%) | 9.631% | &nbsp;&nbsp; 12/14/26 | &nbsp;&nbsp; 110222<br>| &nbsp;&nbsp;&nbsp; 109670<br> <sup>(f)(g)(m)(n)</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; 847917<br>| &nbsp;&nbsp;&nbsp; 848269<br> <sup>(g)(m)(n)</sup><br>|
| *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *1989757* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **10426210** |
| **Consumer Staples — 0.8%** | **Consumer Staples — 0.8%** | **Consumer Staples — 0.8%** | **Consumer Staples — 0.8%** | **Consumer Staples — 0.8%** |
| *Beverages — 0.5%* | *Beverages — 0.5%* | *Beverages — 0.5%* | *Beverages — 0.5%* | *Beverages — 0.5%* |
| &nbsp;&nbsp;&nbsp; Celsius Holdings Inc., Term Loan B (3 mo. Term SOFR + 2.500%) | 6.476% | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 661111<br>| &nbsp;&nbsp;&nbsp; 665448<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Triton Water Holdings Inc., 2025 Refinancing Term Loan (3 mo. Term SOFR <br> + 2.250%) | 6.252% | &nbsp;&nbsp; 3/31/28 | &nbsp;&nbsp; 975910<br>| &nbsp;&nbsp;&nbsp; 979594<br> <sup>(g)(m)(n)</sup><br>|
| *Total Beverages* | *Total Beverages* | *Total Beverages* | *Total Beverages* | &nbsp;&nbsp; *1645042* |
| *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; 625975<br>| &nbsp;&nbsp;&nbsp;&nbsp; *207092*<br> <sup>(g)(m)(n)</sup><br>|
| *Personal Care Products — 0.3%* | *Personal Care Products — 0.3%* | *Personal Care Products — 0.3%* | *Personal Care Products — 0.3%* | *Personal Care Products — 0.3%* |
| &nbsp;&nbsp;&nbsp; Opal Bidco SAS, Term Loan Facility B4 (3 mo. Term SOFR + 3.000%)  | 6.902% | &nbsp;&nbsp; 4/28/32 | &nbsp;&nbsp; 1060000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1065798*<br> <sup>(g)(m)(n)</sup><br>|
| **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **2917932** |
| **Financials — 3.7%** | **Financials — 3.7%** | **Financials — 3.7%** | **Financials — 3.7%** | **Financials — 3.7%** |
| *Banks — 0.3%* | *Banks — 0.3%* | *Banks — 0.3%* | *Banks — 0.3%* | *Banks — 0.3%* |
| &nbsp;&nbsp;&nbsp; Ascensus Group Holdings Inc., 2024 Term Loan B (1 mo. Term SOFR + <br> 3.000%)  | 6.965% | &nbsp;&nbsp; 8/2/28 | &nbsp;&nbsp; 1026185<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1028591*<br> <sup>(g)(m)(n)</sup><br>|
| *Capital Markets — 0.5%* | *Capital Markets — 0.5%* | *Capital Markets — 0.5%* | *Capital Markets — 0.5%* | *Capital Markets — 0.5%* |
| &nbsp;&nbsp;&nbsp; First Eagle Holdings Inc., Delayed Draw Term Loan |  | &nbsp;&nbsp; 8/16/32 | &nbsp;&nbsp; 102083<br>| &nbsp;&nbsp;&nbsp; 102048<br> <sup>(p)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Capital Markets — continued* | *Capital Markets — continued* | *Capital Markets — continued* | *Capital Markets — continued* | *Capital Markets — continued* |
| &nbsp;&nbsp;&nbsp; First Eagle Holdings Inc., Initial Term Loan (3 mo. Term SOFR + 3.500%) | 7.711% | &nbsp;&nbsp; 8/16/32 | &nbsp;&nbsp; 597917<br>| &nbsp;&nbsp;&nbsp; $597710<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Focus Financial Partners LLC, Incremental Term Loan B (1 mo. Term SOFR + <br> 2.750%) | 6.715% | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 823402<br>| &nbsp;&nbsp;&nbsp; 826276<br> <sup>(g)(m)(n)</sup><br>|
| *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *1526034* |
| *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; 768373<br>| &nbsp;&nbsp;&nbsp;&nbsp; *772396*<br> <sup>(g)(m)(n)</sup><br>|
| *Financial Services — 1.1%* | *Financial Services — 1.1%* | *Financial Services — 1.1%* | *Financial Services — 1.1%* | *Financial Services — 1.1%* |
| &nbsp;&nbsp;&nbsp; Boost Newco Borrower LLC, Term Loan B2 (3 mo. Term SOFR + 2.000%) | 6.002% | &nbsp;&nbsp; 1/31/31 | &nbsp;&nbsp; 664983<br>| &nbsp;&nbsp;&nbsp; 667477<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jane Street Group LLC, Extended Term Loan (1 mo. Term SOFR + 2.000%) | &nbsp;&nbsp; 5.956-<br> 6.199%<br>| &nbsp;&nbsp; 12/15/31 | &nbsp;&nbsp; 994778<br>| &nbsp;&nbsp;&nbsp; 986755<br> <sup>(g)(m)(n)</sup><br>|
| &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; 250000<br>| &nbsp;&nbsp;&nbsp; 250844<br> <sup>(g)(m)(n)</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; 854256<br>| &nbsp;&nbsp;&nbsp; 849865<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; VFH Parent LLC, Term Loan B2 (1 mo. Term SOFR + 2.500%) | 6.465% | &nbsp;&nbsp; 6/21/31 | &nbsp;&nbsp; 1070000<br>| &nbsp;&nbsp;&nbsp; 1073595<br> <sup>(g)(m)(n)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *3828536* |
| *Insurance — 1.1%* | *Insurance — 1.1%* | *Insurance — 1.1%* | *Insurance — 1.1%* | *Insurance — 1.1%* |
| &nbsp;&nbsp;&nbsp; AmWINS Group Inc., Initial Term Loan (3 mo. Term SOFR + 2.250%) | 6.252% | &nbsp;&nbsp; 1/30/32 | &nbsp;&nbsp; 994987<br>| &nbsp;&nbsp;&nbsp; 997405<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Asurion LLC, New Term Loan B9 (1 mo. Term SOFR + 3.364%) | 7.329% | &nbsp;&nbsp; 7/30/27 | &nbsp;&nbsp; 765979<br>| &nbsp;&nbsp;&nbsp; 767059<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; CFC Bidco 2022 Ltd., Initial Term Loan (3 mo. Term SOFR + 3.750%) | 7.735% | &nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp; 890000<br>| &nbsp;&nbsp;&nbsp; 872200<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; HIG Finance 2 Ltd., 2024 Refinancing Term Loan (1 mo. Term SOFR + <br> 3.500%) | 7.465% | &nbsp;&nbsp; 4/18/30 | &nbsp;&nbsp; 230734<br>| &nbsp;&nbsp;&nbsp; 232044<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sedgwick Claims Management Services Inc., 2024 Term Loan (1 mo. Term <br> SOFR + 2.500%) | 6.465% | &nbsp;&nbsp; 7/31/31 | &nbsp;&nbsp; 910730<br>| &nbsp;&nbsp;&nbsp; 911555<br> <sup>(g)(m)(n)</sup><br>|
| *Total Insurance* | *Total Insurance* | *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *3780263* |
| *Mortgage Real Estate Investment Trusts (REITs) — 0.5%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.5%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.5%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.5%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.5%* |
| &nbsp;&nbsp;&nbsp; KREF Holdings X LLC, Term Loan B (1 mo. Term SOFR + 2.500%) | 6.548% | &nbsp;&nbsp; 3/5/32 | &nbsp;&nbsp; 896079<br>| &nbsp;&nbsp;&nbsp; 899999<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starwood Property Mortgage LLC, 2025 Repricing Term Loan (1 mo. Term <br> SOFR + 1.750%) | 5.715% | &nbsp;&nbsp; 11/18/27 | &nbsp;&nbsp; 482594<br>| &nbsp;&nbsp;&nbsp; 483197<br> <sup>(f)(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Starwood Property Mortgage LLC, Incremental Term Loan B2 (1 mo. Term <br> SOFR + 2.250%) | 6.215% | &nbsp;&nbsp; 9/24/32 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 381425<br> <sup>(f)(g)(m)(n)</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; *1764621* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **12700441** |
| **Health Care — 2.6%** | **Health Care — 2.6%** | **Health Care — 2.6%** | **Health Care — 2.6%** | **Health Care — 2.6%** |
| *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* | *Health Care Equipment & Supplies — 0.2%* |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, 2028 Refinancing Term Loan (1 mo. Term SOFR + <br> 2.000%)  | 5.965% | &nbsp;&nbsp; 10/23/28 | &nbsp;&nbsp; 890912<br>| &nbsp;&nbsp;&nbsp;&nbsp; *892618*<br> <sup>(g)(m)(n)</sup><br>|
| *Health Care Providers & Services — 1.5%* | *Health Care Providers & Services — 1.5%* | *Health Care Providers & Services — 1.5%* | *Health Care Providers & Services — 1.5%* | *Health Care Providers & Services — 1.5%* |
| &nbsp;&nbsp;&nbsp; Aveanna Healthcare LLC, 2025 Term Loan (1 mo. Term SOFR + 3.750%) | 7.715% | &nbsp;&nbsp; 9/13/32 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 602487<br> <sup>(g)(m)(n)</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; 220000<br>| &nbsp;&nbsp;&nbsp; 221186<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Term Loan B | &nbsp;&nbsp; 7.655-<br> 7.782%<br>| &nbsp;&nbsp; 5/16/31 | &nbsp;&nbsp; 787819<br>| &nbsp;&nbsp;&nbsp; 789331<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; LifePoint Health Inc., Term Loan B2 (3 mo. Term SOFR + 3.500%) | 7.660% | &nbsp;&nbsp; 5/16/31 | &nbsp;&nbsp; 722714<br>| &nbsp;&nbsp;&nbsp; 723335<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Phoenix Guarantor Inc., Term Loan B5 (1 mo. Term SOFR + 2.500%) | 6.465% | &nbsp;&nbsp; 2/21/31 | &nbsp;&nbsp; 699153<br>| &nbsp;&nbsp;&nbsp; 702068<br> <sup>(g)(m)(n)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Health Care Providers & Services — continued* | *Health Care Providers & Services — continued* | *Health Care Providers & Services — continued* | *Health Care Providers & Services — continued* | *Health Care Providers & Services — continued* |
| &nbsp;&nbsp;&nbsp; Sonrava Health Holdings LLC, Second Out Term Loan Facility A (3 mo. Term <br> SOFR + 1.262% and 5.500% PIK) | 10.782% | &nbsp;&nbsp; 8/18/28 | &nbsp;&nbsp; 1707142<br>| &nbsp;&nbsp;&nbsp; $324357<br> <sup>(c)(f)(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sotera Health Holdings LLC, 2025 Term Loan (3 mo. Term SOFR + 2.500%) | 6.340% | &nbsp;&nbsp; 5/30/31 | &nbsp;&nbsp; 750694<br>| &nbsp;&nbsp;&nbsp; 754448<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Team Services Group LLC, Incremental Term Loan (3 mo. Term SOFR + <br> 5.250%) | 9.090% | &nbsp;&nbsp; 12/20/27 | &nbsp;&nbsp; 486325<br>| &nbsp;&nbsp;&nbsp; 485817<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Team Services Group LLC, Senior Secured First Lien Term Loan (3 mo. Term <br> SOFR + 5.262%) | 9.102% | &nbsp;&nbsp; 12/20/27 | &nbsp;&nbsp; 651473<br>| &nbsp;&nbsp;&nbsp; 651134<br> <sup>(g)(m)(n)</sup><br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *5254163* |
| *Health Care Technology — 0.6%* | *Health Care Technology — 0.6%* | *Health Care Technology — 0.6%* | *Health Care Technology — 0.6%* | *Health Care Technology — 0.6%* |
| &nbsp;&nbsp;&nbsp; Cotiviti Inc., Amendment No. 2 Term Loan (1 mo. Term SOFR + 2.750%) | 6.884% | &nbsp;&nbsp; 3/26/32 | &nbsp;&nbsp; 259350<br>| &nbsp;&nbsp;&nbsp; 250191<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cotiviti Inc., Initial Term Loan (1 mo. Term SOFR + 2.750%) | 6.884% | &nbsp;&nbsp; 5/1/31 | &nbsp;&nbsp; 912896<br>| &nbsp;&nbsp;&nbsp; 881707<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC, First Out Term Loan (3 mo. Term SOFR + <br> 3.750%) | 7.590% | &nbsp;&nbsp; 12/31/30 | &nbsp;&nbsp; 201460<br>| &nbsp;&nbsp;&nbsp; 201754<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; MPH Acquisition Holdings LLC, Second Out Term Loan (3 mo. Term SOFR + <br> 4.862%) | 8.702% | &nbsp;&nbsp; 12/31/30 | &nbsp;&nbsp; 674975<br>| &nbsp;&nbsp;&nbsp; 640032<br> <sup>(g)(m)(n)</sup><br>|
| *Total Health Care Technology* | *Total Health Care Technology* | *Total Health Care Technology* | *Total Health Care Technology* | &nbsp;&nbsp; *1973684* |
| *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* |
| &nbsp;&nbsp;&nbsp; Gainwell Acquisition Corp., Term Loan B (3 mo. Term SOFR + 4.100%)  | 8.102% | &nbsp;&nbsp; 10/1/27 | &nbsp;&nbsp; 935091<br>| &nbsp;&nbsp;&nbsp;&nbsp; *928078*<br> <sup>(g)(m)(n)</sup><br>|
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **9048543** |
| **Industrials — 2.3%** | **Industrials — 2.3%** | **Industrials — 2.3%** | **Industrials — 2.3%** | **Industrials — 2.3%** |
| *Building Products — 0.1%* | *Building Products — 0.1%* | *Building Products — 0.1%* | *Building Products — 0.1%* | *Building Products — 0.1%* |
| &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; 359100<br>| &nbsp;&nbsp;&nbsp;&nbsp; *351247*<br> <sup>(g)(m)(n)</sup><br>|
| *Commercial Services & Supplies — 1.2%* | *Commercial Services & Supplies — 1.2%* | *Commercial Services & Supplies — 1.2%* | *Commercial Services & Supplies — 1.2%* | *Commercial Services & Supplies — 1.2%* |
| &nbsp;&nbsp;&nbsp; DS Parent Inc., Term Loan B (3 mo. Term SOFR + 5.500%) | 9.502% | &nbsp;&nbsp; 1/31/31 | &nbsp;&nbsp; 942047<br>| &nbsp;&nbsp;&nbsp; 873357<br> <sup>(g)(m)(n)</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; 1259768<br>| &nbsp;&nbsp;&nbsp; 1240871<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; LTR Intermediate Holdings Inc., Initial Term Loan (1 mo. Term SOFR + <br> 4.614%) | 8.579% | &nbsp;&nbsp; 5/5/28 | &nbsp;&nbsp; 968000<br>| &nbsp;&nbsp;&nbsp; 971229<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Madison IAQ LLC, 2025 Incremental Term Loan (6 mo. Term SOFR + <br> 3.250%) | 7.452% | &nbsp;&nbsp; 5/6/32 | &nbsp;&nbsp; 399000<br>| &nbsp;&nbsp;&nbsp; 400995<br> <sup>(g)(m)(n)</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; 518883<br>| &nbsp;&nbsp;&nbsp; 519747<br> <sup>(g)(m)(n)</sup><br>|
| *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | *Total Commercial Services & Supplies* | &nbsp;&nbsp; *4006199* |
| *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* | *Electrical Equipment — 0.1%* |
| &nbsp;&nbsp;&nbsp; Osmose Utilities Services Inc., First Lien Initial Term Loan  |  | &nbsp;&nbsp; 6/23/28 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *298279*<br> <sup>(o)</sup><br>|
| *Machinery — 0.3%* | *Machinery — 0.3%* | *Machinery — 0.3%* | *Machinery — 0.3%* | *Machinery — 0.3%* |
| &nbsp;&nbsp;&nbsp; Dynamo US Bidco Inc., Term Loan B1 (1 mo. Term SOFR + 3.250%)  | 7.363% | &nbsp;&nbsp; 9/30/31 | &nbsp;&nbsp; 970200<br>| &nbsp;&nbsp;&nbsp;&nbsp; *975657*<br> <sup>(f)(g)(m)(n)</sup><br>|
| *Professional Services — 0.6%* | *Professional Services — 0.6%* | *Professional Services — 0.6%* | *Professional Services — 0.6%* | *Professional Services — 0.6%* |
| &nbsp;&nbsp;&nbsp; Dayforce Inc., 2025 Term Loan (3 mo. Term SOFR + 2.000%) | 5.840% | &nbsp;&nbsp; 2/26/31 | &nbsp;&nbsp; 352105<br>| &nbsp;&nbsp;&nbsp; 352766<br> <sup>(f)(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dayforce Inc., Term Loan B |  | &nbsp;&nbsp; 10/7/32 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 898069<br> <sup>(o)</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; 915306<br>| &nbsp;&nbsp;&nbsp; 913018<br> <sup>(g)(m)(n)</sup><br>|
| *Total Professional Services* | *Total Professional Services* | *Total Professional Services* | *Total Professional Services* | &nbsp;&nbsp; *2163853* |
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **7795235** |
| **Information Technology — 2.7%** | **Information Technology — 2.7%** | **Information Technology — 2.7%** | **Information Technology — 2.7%** | **Information Technology — 2.7%** |
| *IT Services — 0.9%* | *IT Services — 0.9%* | *IT Services — 0.9%* | *IT Services — 0.9%* | *IT Services — 0.9%* |
| &nbsp;&nbsp;&nbsp; Evertec Group LLC, Term Loan B (1 mo. Term SOFR + 2.250%) | 6.215% | &nbsp;&nbsp; 10/30/30 | &nbsp;&nbsp; 540000<br>| &nbsp;&nbsp;&nbsp; 542700<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Leia Finco US LLC, Initial Term Loan (3 mo. Term SOFR + 3.250%) | 7.185% | &nbsp;&nbsp; 10/9/31 | &nbsp;&nbsp; 855743<br>| &nbsp;&nbsp;&nbsp; 858687<br> <sup>(g)(m)(n)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *IT Services — continued* | *IT Services — continued* | *IT Services — continued* | *IT Services — continued* | *IT Services — continued* |
| &nbsp;&nbsp;&nbsp; Project Alpha Intermediate Holding Inc., First Lien Incremental Term Loan B <br> (3 mo. Term SOFR + 3.250%) | 7.252% | &nbsp;&nbsp; 10/28/30 | &nbsp;&nbsp; 980149<br>| &nbsp;&nbsp;&nbsp; $981546<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; UST Global Inc., Initial Term Loan (1 mo. Term SOFR + 3.000%) | 7.031% | &nbsp;&nbsp; 11/20/28 | &nbsp;&nbsp; 666737<br>| &nbsp;&nbsp;&nbsp; 665903<br> <sup>(f)(g)(m)(n)</sup><br>|
| *Total IT Services* | *Total IT Services* | *Total IT Services* | *Total IT Services* | &nbsp;&nbsp; *3048836* |
| *Software — 1.8%* | *Software — 1.8%* | *Software — 1.8%* | *Software — 1.8%* | *Software — 1.8%* |
| &nbsp;&nbsp;&nbsp; Calabrio/Verint, 2025 First Out Term Loan Facility |  | &nbsp;&nbsp; 10/24/32 | &nbsp;&nbsp; 250000<br>| &nbsp;&nbsp;&nbsp; 237813<br> <sup>(f)(o)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cloudera Inc., Term Loan (1 mo. Term SOFR + 3.850%) | 7.815% | &nbsp;&nbsp; 10/8/28 | &nbsp;&nbsp; 625286<br>| &nbsp;&nbsp;&nbsp; 602072<br> <sup>(g)(m)(n)</sup><br>|
| &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; 520043<br>| &nbsp;&nbsp;&nbsp; 470748<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Modena Buyer LLC, Initial Term Loan (3 mo. Term SOFR + 4.250%) | 8.090% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 882653<br>| &nbsp;&nbsp;&nbsp; 864558<br> <sup>(g)(m)(n)</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; 1600000<br>| &nbsp;&nbsp;&nbsp; 1578664<br> <sup>(g)(m)(n)</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; 882554<br>| &nbsp;&nbsp;&nbsp; 879249<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; X.Ai Corp., Initial Term Loan | 12.500% | &nbsp;&nbsp; 6/30/28 | &nbsp;&nbsp; 458850<br>| &nbsp;&nbsp;&nbsp; 480932<br> <sup>(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; X.Ai Corp., Initial Term Loan (6 mo. Term SOFR + 7.250%) | 11.122% | &nbsp;&nbsp; 6/28/30 | &nbsp;&nbsp; 1386525<br>| &nbsp;&nbsp;&nbsp; 1353713<br> <sup>(g)(m)(n)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *6467749* |
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **9516585** |
| **Materials — 0.7%** | **Materials — 0.7%** | **Materials — 0.7%** | **Materials — 0.7%** | **Materials — 0.7%** |
| *Chemicals — 0.2%* | *Chemicals — 0.2%* | *Chemicals — 0.2%* | *Chemicals — 0.2%* | *Chemicals — 0.2%* |
| &nbsp;&nbsp;&nbsp; Natgasoline LLC, Term Loan B (3 mo. Term SOFR + 5.500%)  | 9.502% | &nbsp;&nbsp; 3/29/30 | &nbsp;&nbsp; 503625<br>| &nbsp;&nbsp;&nbsp;&nbsp; *508031*<br> <sup>(g)(m)(n)</sup><br>|
| *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 Term <br> Loan B (1 mo. Term SOFR + 3.250%) | 7.215% | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 443189<br>| &nbsp;&nbsp;&nbsp; 442721<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings Inc., Delayed Draw Term Loan |  | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 7531<br>| &nbsp;&nbsp;&nbsp; 7523<br> <sup>(p)</sup><br>|
| *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | *Total Containers & Packaging* | &nbsp;&nbsp; *450244* |
| *Metals & Mining — 0.4%* | *Metals & Mining — 0.4%* | *Metals & Mining — 0.4%* | *Metals & Mining — 0.4%* | *Metals & Mining — 0.4%* |
| &nbsp;&nbsp;&nbsp; Arctic Canadian Diamond Co. Ltd., Second Lien Term Loan  | 10.000% | &nbsp;&nbsp; 12/31/27 | &nbsp;&nbsp; 1408093<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1403808*<br> <sup>(e)(f)(m)(n)</sup><br>|
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **2362083** |
| **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; Alpha Generation LLC, Initial Term Loan B (1 mo. Term SOFR + 2.000%) | 5.965% | &nbsp;&nbsp; 9/30/31 | &nbsp;&nbsp; 484602<br>| &nbsp;&nbsp;&nbsp; 485758<br> <sup>(g)(m)(n)</sup><br>|
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC, 2025 First Lien Term Loan B |  | &nbsp;&nbsp; 10/11/32 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp; 280175<br> <sup>(o)</sup><br>|
| **Total Utilities** | **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **765933** |
| **Total Senior Loans (Cost — $63,515,706)** | **Total Senior Loans (Cost — $63,515,706)** | **Total Senior Loans (Cost — $63,515,706)** | **Total Senior Loans (Cost — $63,515,706)** | &nbsp;&nbsp; **60824116** |
|  |  |  | &nbsp;&nbsp; Face <br>Amount†/ <br>Units<br>|  |
| **Asset-Backed Securities — 12.4%** | **Asset-Backed Securities — 12.4%** | **Asset-Backed Securities — 12.4%** | **Asset-Backed Securities — 12.4%** | **Asset-Backed Securities — 12.4%** |
| &nbsp;&nbsp;&nbsp; 720 East CLO Ltd., 2025-7A E (3 mo. Term SOFR + 4.750%) | &nbsp;&nbsp; 8.634% | &nbsp;&nbsp; 4/20/37 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 631185<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; AGL CLO Ltd., 2025-44A E (3 mo. Term SOFR + 4.750%) | &nbsp;&nbsp; 8.703% | &nbsp;&nbsp; 10/22/37 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 670085<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; AMMC CLO Ltd., 2022-27A DR (3 mo. Term SOFR + 2.700%) | &nbsp;&nbsp; 6.584% | &nbsp;&nbsp; 1/20/37 | &nbsp;&nbsp; 490000<br>| &nbsp;&nbsp;&nbsp; 492302<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; AMMC CLO Ltd., 2024-30A D (3 mo. Term SOFR + 4.500%) | &nbsp;&nbsp; 8.405% | &nbsp;&nbsp; 1/15/37 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 987195<br> <sup>(a)(g)</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; 440000<br>| &nbsp;&nbsp;&nbsp; 440195<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ares CLO Ltd., 2017-44A CRR (3 mo. Term SOFR + 2.750%) | &nbsp;&nbsp; 6.655% | &nbsp;&nbsp; 4/15/34 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 501303<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Arini US CLO Ltd., 3A E (3 mo. Term SOFR + 5.250%) | &nbsp;&nbsp; 9.139% | &nbsp;&nbsp; 1/15/39 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp; 461150<br> <sup>(a)(b)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Avis Budget Rental Car Funding AESOP LLC, 2024-2A D | &nbsp;&nbsp; 7.430% | &nbsp;&nbsp; 10/20/28 | &nbsp;&nbsp; 800000<br>| &nbsp;&nbsp;&nbsp; 816505<br> <sup>(a)</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; 690000<br>| &nbsp;&nbsp;&nbsp; 690552<br> <sup>(a)(g)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†/<br> Units<br>| Value |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; Blueberry Park CLO Ltd., 2024-1A D1 (3 mo. Term SOFR + 2.900%) | &nbsp;&nbsp; 6.784% | &nbsp;&nbsp; 10/20/37 | &nbsp;&nbsp; 1430000<br>| &nbsp;&nbsp;&nbsp; $1436413<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bravo Mortgage Asset Trust, 2006-1A M1 (1 mo. Term SOFR + 0.714%) | &nbsp;&nbsp; 4.706% | &nbsp;&nbsp; 7/25/36 | &nbsp;&nbsp; 1940306<br>| &nbsp;&nbsp;&nbsp; 1767147<br> <sup>(a)(g)</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; 580000<br>| &nbsp;&nbsp;&nbsp; 580580<br> <sup>(a)(b)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; CIFC Funding Ltd., 2017-3A D1R (3 mo. Term SOFR + 3.700%) | &nbsp;&nbsp; 7.584% | &nbsp;&nbsp; 4/20/37 | &nbsp;&nbsp; 790000<br>| &nbsp;&nbsp;&nbsp; 793149<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Columbia Cent CLO Ltd., 2025-35A D1A (3 mo. Term SOFR + 3.500%) | &nbsp;&nbsp; 7.822% | &nbsp;&nbsp; 7/25/36 | &nbsp;&nbsp; 560000<br>| &nbsp;&nbsp;&nbsp; 560487<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dryden Senior Loan Fund, 2017-49A DR (3 mo. Term SOFR + 3.662%) | &nbsp;&nbsp; 7.546% | &nbsp;&nbsp; 7/18/30 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 752882<br> <sup>(a)(g)</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; 600000<br>| &nbsp;&nbsp;&nbsp; 604040<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Franklin Mortgage Loan Trust, 2003-FF4 M1 (1 mo. Term SOFR + <br> 1.914%) | &nbsp;&nbsp; 6.049% | &nbsp;&nbsp; 10/25/33 | &nbsp;&nbsp; 330743<br>| &nbsp;&nbsp;&nbsp; 329183<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management US CLO Ltd., 2019-6A ER2 (3 mo. Term <br> SOFR + 4.500%) | &nbsp;&nbsp; 8.384% | &nbsp;&nbsp; 4/20/35 | &nbsp;&nbsp; 450000<br>| &nbsp;&nbsp;&nbsp; 443359<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO Ltd., 2021-53A ER (3 mo. Term SOFR + 4.700%) | &nbsp;&nbsp; 8.584% | &nbsp;&nbsp; 7/20/34 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp; 987399<br> <sup>(a)(g)</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; 350000<br>| &nbsp;&nbsp;&nbsp; 351279<br> <sup>(a)(g)</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; 270000<br>| &nbsp;&nbsp;&nbsp; 267654<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Hayfin US Ltd., 2024-15A D1 (3 mo. Term SOFR + 4.260%) | &nbsp;&nbsp; 8.119% | &nbsp;&nbsp; 4/28/37 | &nbsp;&nbsp; 1680000<br>| &nbsp;&nbsp;&nbsp; 1689247<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Home Equity Asset Trust, 2005-6 M5 (1 mo. Term SOFR + 1.059%) | &nbsp;&nbsp; 5.051% | &nbsp;&nbsp; 12/25/35 | &nbsp;&nbsp; 1190000<br>| &nbsp;&nbsp;&nbsp; 1163324<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Huntington Bank Auto Credit-Linked Notes, 2025-1 D (30 Day Average <br> SOFR + 3.500%) | &nbsp;&nbsp; 7.684% | &nbsp;&nbsp; 3/21/33 | &nbsp;&nbsp; 749163<br>| &nbsp;&nbsp;&nbsp; 749713<br> <sup>(a)(g)</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; 490000<br>| &nbsp;&nbsp;&nbsp; 489922<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Katayma CLO Ltd., 2023-1A D (3 mo. Term SOFR + 5.250%) | &nbsp;&nbsp; 9.134% | &nbsp;&nbsp; 10/20/36 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp; 341424<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; KKR CLO Ltd., 17 ER (3 mo. Term SOFR + 7.652%) | &nbsp;&nbsp; 11.556% | &nbsp;&nbsp; 4/15/34 | &nbsp;&nbsp; 700000<br>| &nbsp;&nbsp;&nbsp; 670653<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Long Beach Mortgage Loan Trust, 2005-1 M4 (1 mo. Term SOFR + 1.389%) | &nbsp;&nbsp; 5.381% | &nbsp;&nbsp; 2/25/35 | &nbsp;&nbsp; 1152225<br>| &nbsp;&nbsp;&nbsp; 1140602<br> <sup>(g)</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; 1510000<br>| &nbsp;&nbsp;&nbsp; 1517224<br> <sup>(a)(g)</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; 1000000<br>| &nbsp;&nbsp;&nbsp; 1006547<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mastr Asset Backed Securities Trust, 2007-HE2 A1 (1 mo. Term SOFR + <br> 1.264%) | &nbsp;&nbsp; 5.256% | &nbsp;&nbsp; 8/25/37 | &nbsp;&nbsp; 1422510<br>| &nbsp;&nbsp;&nbsp; 1254285<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Morgan Stanley ABS Capital Inc. Trust, 2004-NC4 M1 (1 mo. Term SOFR + <br> 0.924%) | &nbsp;&nbsp; 4.916% | &nbsp;&nbsp; 4/25/34 | &nbsp;&nbsp; 1359975<br>| &nbsp;&nbsp;&nbsp; 1391857<br> <sup>(g)</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; 580000<br>| &nbsp;&nbsp;&nbsp; 582204<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mountain View CLO Ltd., 2025-1A D1 (3 mo. Term SOFR + 3.400%) | &nbsp;&nbsp; 7.228% | &nbsp;&nbsp; 10/17/38 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 485503<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; National Collegiate Student Loan Trust, 2005-1 B (1 mo. Term SOFR + <br> 0.494%) | &nbsp;&nbsp; 4.486% | &nbsp;&nbsp; 3/26/35 | &nbsp;&nbsp; 501702<br>| &nbsp;&nbsp;&nbsp; 468945<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; National Collegiate Student Loan Trust, 2005-3 B (1 mo. Term SOFR + <br> 0.614%) | &nbsp;&nbsp; 4.606% | &nbsp;&nbsp; 7/27/37 | &nbsp;&nbsp; 1234725<br>| &nbsp;&nbsp;&nbsp; 1010056<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; National Collegiate Student Loan Trust, 2007-2 A4 (1 mo. Term SOFR + <br> 0.404%) | &nbsp;&nbsp; 4.396% | &nbsp;&nbsp; 1/25/33 | &nbsp;&nbsp; 243720<br>| &nbsp;&nbsp;&nbsp; 240895<br> <sup>(g)</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; 500000<br>| &nbsp;&nbsp;&nbsp; 502371<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; NMEF Funding LLC, 2025-A D | &nbsp;&nbsp; 8.070% | &nbsp;&nbsp; 7/15/32 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 792313<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ocean Trails CLO Ltd., 2020-10A ER (3 mo. Term SOFR + 7.832%) | &nbsp;&nbsp; 11.736% | &nbsp;&nbsp; 10/15/34 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 755251<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; OCP CLO Ltd., 2023-26A ER (3 mo. Term SOFR + 4.450%) | &nbsp;&nbsp; 8.332% | &nbsp;&nbsp; 4/17/37 | &nbsp;&nbsp; 990000<br>| &nbsp;&nbsp;&nbsp; 973539<br> <sup>(a)(g)</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; 1680000<br>| &nbsp;&nbsp;&nbsp; 1688739<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Option One Mortgage Loan Trust, 2005-3 M4 (1 mo. Term SOFR + 1.044%) | &nbsp;&nbsp; 5.036% | &nbsp;&nbsp; 8/25/35 | &nbsp;&nbsp; 1050000<br>| &nbsp;&nbsp;&nbsp; 925848<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., 2022-3A CR (3 mo. Term SOFR + 3.000%) | &nbsp;&nbsp; 6.905% | &nbsp;&nbsp; 4/15/31 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 1368929<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., 2024-3A C (3 mo. Term SOFR + 2.950%) | &nbsp;&nbsp; 7.184% | &nbsp;&nbsp; 8/8/32 | &nbsp;&nbsp; 1100000<br>| &nbsp;&nbsp;&nbsp; 1106160<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Peace Park CLO Ltd., 2021-1A ER (3 mo. Term SOFR + 4.900%) | &nbsp;&nbsp; 8.784% | &nbsp;&nbsp; 10/20/38 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp; 457134<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Popular ABS Mortgage Pass-Through Trust, 2005-2 M2 | &nbsp;&nbsp; 6.217% | &nbsp;&nbsp; 4/25/35 | &nbsp;&nbsp; 1248915<br>| &nbsp;&nbsp;&nbsp; 1096475<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†/<br> Units<br>| Value |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; Renew, 2024-1A B | &nbsp;&nbsp; 9.001% | &nbsp;&nbsp; 11/20/59 | &nbsp;&nbsp; 864222<br>| &nbsp;&nbsp;&nbsp; $872266<br> <sup>(a)</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; 720000<br>| &nbsp;&nbsp;&nbsp; 723547<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; SMB Private Education Loan Trust, 2015-C R | &nbsp;&nbsp; 20.550% | &nbsp;&nbsp; 9/18/46 | &nbsp;&nbsp; 1092<br>| &nbsp;&nbsp;&nbsp; 192533<br> <sup>(a)(q)</sup><br>|
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Mortgage Loan Trust, 2006-ARS1 A1 (1 <br> mo. Term SOFR + 0.334%) | &nbsp;&nbsp; 4.326% | &nbsp;&nbsp; 2/25/36 | &nbsp;&nbsp; 3089258<br>| &nbsp;&nbsp;&nbsp; 56149<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sunnova Hellios Issuer LLC, 2019-AA C | &nbsp;&nbsp; 5.320% | &nbsp;&nbsp; 6/20/46 | &nbsp;&nbsp; 1492578<br>| &nbsp;&nbsp;&nbsp; 1259006<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TCI-Symphony CLO Ltd., 2016-1A DR2 (3 mo. Term SOFR + 3.362%) | &nbsp;&nbsp; 7.273% | &nbsp;&nbsp; 10/13/32 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 481951<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Trestles CLO Ltd., 2025-8A D1 (3 mo. Term SOFR + 3.000%) | &nbsp;&nbsp; 7.297% | &nbsp;&nbsp; 6/11/35 | &nbsp;&nbsp; 630000<br>| &nbsp;&nbsp;&nbsp; 633290<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wellesley Park CLO Ltd., 2025-1A E (3 mo. Term SOFR + 4.600%) | &nbsp;&nbsp; 8.489% | &nbsp;&nbsp; 1/24/39 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp; 340850<br> <sup>(a)(b)(g)</sup><br>|
| **Total Asset-Backed Securities (Cost — $47,839,814)** | **Total Asset-Backed Securities (Cost — $47,839,814)** | **Total Asset-Backed Securities (Cost — $47,839,814)** | **Total Asset-Backed Securities (Cost — $47,839,814)** | &nbsp;&nbsp; **42992796** |
|  |  |  | &nbsp;&nbsp; Face <br>Amount†<br>|  |
| **Sovereign Bonds — 5.6%** | **Sovereign Bonds — 5.6%** | **Sovereign Bonds — 5.6%** | **Sovereign Bonds — 5.6%** | **Sovereign Bonds — 5.6%** |
| *Angola — 0.2%* | *Angola — 0.2%* | *Angola — 0.2%* | *Angola — 0.2%* | *Angola — 0.2%* |
| &nbsp;&nbsp;&nbsp; Angolan Government International Bond, Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 4/14/32 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *535757*<br> <sup>(a)</sup><br>|
| *Argentina — 0.3%* | *Argentina — 0.3%* | *Argentina — 0.3%* | *Argentina — 0.3%* | *Argentina — 0.3%* |
| &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; 163103<br>| &nbsp;&nbsp;&nbsp; 133744<br>|
| &nbsp;&nbsp;&nbsp; Provincia de Buenos Aires, Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 9/1/37 | &nbsp;&nbsp; 453571<br>| &nbsp;&nbsp;&nbsp; 333942<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Provincia de Cordoba, Senior Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 7/2/32 | &nbsp;&nbsp; 637000<br>| &nbsp;&nbsp;&nbsp; 655568<br> <sup>(a)</sup><br>|
| *Total Argentina* | *Total Argentina* | *Total Argentina* | *Total Argentina* | &nbsp;&nbsp; *1123254* |
| *Bahamas — 0.3%* | *Bahamas — 0.3%* | *Bahamas — 0.3%* | *Bahamas — 0.3%* | *Bahamas — 0.3%* |
| &nbsp;&nbsp;&nbsp; Bahamas Government International Bond, Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 6/24/36 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *987159*<br> <sup>(a)</sup><br>|
| *Brazil — 1.0%* | *Brazil — 1.0%* | *Brazil — 1.0%* | *Brazil — 1.0%* | *Brazil — 1.0%* |
| &nbsp;&nbsp;&nbsp; Brazil Letras do Tesouro Nacional | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 1/1/26 | &nbsp;&nbsp; 5354000 <br><sup>BRL</sup><br>| &nbsp;&nbsp;&nbsp; 972830<br>|
| &nbsp;&nbsp;&nbsp; Brazil Notas do Tesouro Nacional Serie F, Notes | &nbsp;&nbsp; 10.000% | &nbsp;&nbsp; 1/1/31 | &nbsp;&nbsp; 14652000 <br><sup>BRL</sup><br>| &nbsp;&nbsp;&nbsp; 2394800<br>|
| *Total Brazil* | *Total Brazil* | *Total Brazil* | *Total Brazil* | &nbsp;&nbsp; *3367630* |
| *Dominican Republic — 0.1%* | *Dominican Republic — 0.1%* | *Dominican Republic — 0.1%* | *Dominican Republic — 0.1%* | *Dominican Republic — 0.1%* |
| &nbsp;&nbsp;&nbsp; Dominican Republic International Bond, Senior Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 9/23/32 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *297770*<br> <sup>(d)</sup><br>|
| *Ecuador — 0.1%* | *Ecuador — 0.1%* | *Ecuador — 0.1%* | *Ecuador — 0.1%* | *Ecuador — 0.1%* |
| &nbsp;&nbsp;&nbsp; Ecuador Government International Bond, Senior Notes | &nbsp;&nbsp; 6.900% | &nbsp;&nbsp; 7/31/35 | &nbsp;&nbsp; 239403<br>| &nbsp;&nbsp;&nbsp;&nbsp; *184041*<br> <sup>(d)</sup><br>|
| *Egypt — 0.1%* | *Egypt — 0.1%* | *Egypt — 0.1%* | *Egypt — 0.1%* | *Egypt — 0.1%* |
| &nbsp;&nbsp;&nbsp; Egypt Government International Bond, Senior Notes | &nbsp;&nbsp; 7.053% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 460000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *459656*<br> <sup>(d)</sup><br>|
| *El Salvador — 0.2%* | *El Salvador — 0.2%* | *El Salvador — 0.2%* | *El Salvador — 0.2%* | *El Salvador — 0.2%* |
| &nbsp;&nbsp;&nbsp; El Salvador Government International Bond, Senior Notes | &nbsp;&nbsp; 9.650% | &nbsp;&nbsp; 11/21/54 | &nbsp;&nbsp; 530000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *597250*<br> <sup>(a)</sup><br>|
| *Ethiopia — 0.1%* | *Ethiopia — 0.1%* | *Ethiopia — 0.1%* | *Ethiopia — 0.1%* | *Ethiopia — 0.1%* |
| &nbsp;&nbsp;&nbsp; Ethiopia International Bond, Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 12/11/25 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp; *327,779*<br> \*<sup>(d)(j)</sup><br>|
| *Ghana — 0.0%††* | *Ghana — 0.0%††* | *Ghana — 0.0%††* | *Ghana — 0.0%††* | *Ghana — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Ghana Government International Bond, Senior Notes, Step bond (5.000% <br> to 7/3/28 then 6.000%) | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/3/35 | &nbsp;&nbsp; 211560<br>| &nbsp;&nbsp;&nbsp;&nbsp; *182862*<br> <sup>(a)</sup><br>|
| *Ivory Coast — 0.1%* | *Ivory Coast — 0.1%* | *Ivory Coast — 0.1%* | *Ivory Coast — 0.1%* | *Ivory Coast — 0.1%* |
| &nbsp;&nbsp;&nbsp; Ivory Coast Government International Bond, Senior Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 1/30/33 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *327941*<br> <sup>(a)</sup><br>|
| *Jamaica — 0.2%* | *Jamaica — 0.2%* | *Jamaica — 0.2%* | *Jamaica — 0.2%* | *Jamaica — 0.2%* |
| &nbsp;&nbsp;&nbsp; Jamaica Government International Bond, Senior Notes | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp; 11/3/30 | &nbsp;&nbsp; 110000000 <br><sup>JMD</sup><br>| &nbsp;&nbsp;&nbsp; *727794*<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| *Jordan — 0.1%* | *Jordan — 0.1%* | *Jordan — 0.1%* | *Jordan — 0.1%* | *Jordan — 0.1%* |
| &nbsp;&nbsp;&nbsp; Jordan Government International Bond, Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; $*283983*<br> <sup>(a)</sup><br>|
| *Kenya — 0.1%* | *Kenya — 0.1%* | *Kenya — 0.1%* | *Kenya — 0.1%* | *Kenya — 0.1%* |
| &nbsp;&nbsp;&nbsp; Republic of Kenya Government International Bond, Senior Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 2/16/31 | &nbsp;&nbsp; 340000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *366549*<br> <sup>(a)</sup><br>|
| *Mexico — 1.4%* | *Mexico — 1.4%* | *Mexico — 1.4%* | *Mexico — 1.4%* | *Mexico — 1.4%* |
| &nbsp;&nbsp;&nbsp; Eagle Funding Luxco Sarl, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 8/17/30 | &nbsp;&nbsp; 510000<br>| &nbsp;&nbsp;&nbsp; 518746<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mexican Bonos, Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 11/23/34 | &nbsp;&nbsp; 68720000 <br><sup>MXN</sup><br>| &nbsp;&nbsp;&nbsp; 3489329<br>|
| &nbsp;&nbsp;&nbsp; Mexico Government International Bond, Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 5/7/36 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 841361<br>|
| *Total Mexico* | *Total Mexico* | *Total Mexico* | *Total Mexico* | &nbsp;&nbsp; *4849436* |
| *Mozambique — 0.0%††* | *Mozambique — 0.0%††* | *Mozambique — 0.0%††* | *Mozambique — 0.0%††* | *Mozambique — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Mozambique International Bond, Senior Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 210000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *182481*<br> <sup>(d)</sup><br>|
| *Nigeria — 0.1%* | *Nigeria — 0.1%* | *Nigeria — 0.1%* | *Nigeria — 0.1%* | *Nigeria — 0.1%* |
| &nbsp;&nbsp;&nbsp; Nigeria Government International Bond, Senior Notes | &nbsp;&nbsp; 7.143% | &nbsp;&nbsp; 2/23/30 | &nbsp;&nbsp; 520000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *519921*<br> <sup>(d)</sup><br>|
| *Romania — 0.1%* | *Romania — 0.1%* | *Romania — 0.1%* | *Romania — 0.1%* | *Romania — 0.1%* |
| &nbsp;&nbsp;&nbsp; Romanian Government International Bond, Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/10/37 | &nbsp;&nbsp; 310000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *340579*<br> <sup>(a)</sup><br>|
| *Senegal — 0.1%* | *Senegal — 0.1%* | *Senegal — 0.1%* | *Senegal — 0.1%* | *Senegal — 0.1%* |
| &nbsp;&nbsp;&nbsp; Senegal Government International Bond, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 5/23/33 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *215974*<br> <sup>(d)</sup><br>|
| *Sri Lanka — 0.1%* | *Sri Lanka — 0.1%* | *Sri Lanka — 0.1%* | *Sri Lanka — 0.1%* | *Sri Lanka — 0.1%* |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 4/15/28 | &nbsp;&nbsp; 50339<br>| &nbsp;&nbsp;&nbsp; 48451<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, Senior Notes, Step bond <br> (3.100% to 7/15/27 then 3.350%) | &nbsp;&nbsp; 3.100% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 13867<br>| &nbsp;&nbsp;&nbsp; 13104<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, Senior Notes, Step bond <br> (3.350% to 9/15/27 then 3.600%) | &nbsp;&nbsp; 3.350% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 105659<br>| &nbsp;&nbsp;&nbsp; 92342<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, Senior Notes, Step bond <br> (3.600% to 12/15/27 then 5.100%) | &nbsp;&nbsp; 3.600% | &nbsp;&nbsp; 6/15/35 | &nbsp;&nbsp; 71344<br>| &nbsp;&nbsp;&nbsp; 55289<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, Senior Notes, Step bond <br> (3.600% to 8/15/27 then 3.850%) | &nbsp;&nbsp; 3.600% | &nbsp;&nbsp; 2/15/38 | &nbsp;&nbsp; 99070<br>| &nbsp;&nbsp;&nbsp; 91763<br> <sup>(a)</sup><br>|
| *Total Sri Lanka* | *Total Sri Lanka* | *Total Sri Lanka* | *Total Sri Lanka* | &nbsp;&nbsp; *300949* |
| *Supranational — 0.7%* | *Supranational — 0.7%* | *Supranational — 0.7%* | *Supranational — 0.7%* | *Supranational — 0.7%* |
| &nbsp;&nbsp;&nbsp; Inter-American Development Bank, Senior Notes | &nbsp;&nbsp; 7.350% | &nbsp;&nbsp; 10/6/30 | &nbsp;&nbsp; 222000000 <br><sup>INR</sup><br>| &nbsp;&nbsp;&nbsp; *2574583*<br>|
| *Ukraine — 0.2%* | *Ukraine — 0.2%* | *Ukraine — 0.2%* | *Ukraine — 0.2%* | *Ukraine — 0.2%* |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, Senior Notes, Step bond (0.000% <br> to 2/1/27 then 3.000%) | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 2/1/34 | &nbsp;&nbsp; 335938<br>| &nbsp;&nbsp;&nbsp; 140604<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, Senior Notes, Step bond (4.500% <br> to 2/1/27 then 6.000%) | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 2/1/34 | &nbsp;&nbsp; 329150<br>| &nbsp;&nbsp;&nbsp; 185543<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, Senior Notes, Step bond (0.000% <br> to 2/1/27 then 3.000%) | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 2/1/35 | &nbsp;&nbsp; 283891<br>| &nbsp;&nbsp;&nbsp; 145759<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, Senior Notes, Step bond (4.500% <br> to 2/1/27 then 6.000%) | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 2/1/36 | &nbsp;&nbsp; 540586<br>| &nbsp;&nbsp;&nbsp; 298121<br> <sup>(d)</sup><br>|
| *Total Ukraine* | *Total Ukraine* | *Total Ukraine* | *Total Ukraine* | &nbsp;&nbsp; *770027* |
| **Total Sovereign Bonds (Cost — $18,949,643)** | **Total Sovereign Bonds (Cost — $18,949,643)** | **Total Sovereign Bonds (Cost — $18,949,643)** | **Total Sovereign Bonds (Cost — $18,949,643)** | &nbsp;&nbsp; **19523375** |
| **U.S. Government & Agency Obligations — 0.7%** | **U.S. Government & Agency Obligations — 0.7%** | **U.S. Government & Agency Obligations — 0.7%** | **U.S. Government & Agency Obligations — 0.7%** | **U.S. Government & Agency Obligations — 0.7%** |
| *U.S. Government Obligations — 0.7%* | *U.S. Government Obligations — 0.7%* | *U.S. Government Obligations — 0.7%* | *U.S. Government Obligations — 0.7%* | *U.S. Government Obligations — 0.7%* |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 6/30/30 | &nbsp;&nbsp; 190000 | &nbsp;&nbsp;&nbsp; 191462<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 7/31/30 | &nbsp;&nbsp; 2090000 | &nbsp;&nbsp;&nbsp; 2105920<br>|
| **Total U.S. Government & Agency Obligations (Cost — $2,281,228)** | **Total U.S. Government & Agency Obligations (Cost — $2,281,228)** | **Total U.S. Government & Agency Obligations (Cost — $2,281,228)** | **Total U.S. Government & Agency Obligations (Cost — $2,281,228)** | &nbsp;&nbsp; **2297382** |

---

See Notes to Schedule of Investments.

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Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount†<br>| Value |
| **Mortgage-Backed Securities — 0.6%** | **Mortgage-Backed Securities — 0.6%** | **Mortgage-Backed Securities — 0.6%** | **Mortgage-Backed Securities — 0.6%** | **Mortgage-Backed Securities — 0.6%** |
| *FHLMC — 0.1%* | *FHLMC — 0.1%* | *FHLMC — 0.1%* | *FHLMC — 0.1%* | *FHLMC — 0.1%* |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 11/1/51 | &nbsp;&nbsp; 316322<br>| &nbsp;&nbsp;&nbsp; $274788<br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Gold | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 1377<br>| &nbsp;&nbsp;&nbsp; 1416<br>|
| *Total FHLMC* | *Total FHLMC* | *Total FHLMC* | *Total FHLMC* | &nbsp;&nbsp; *276204* |
| *FNMA — 0.4%* | *FNMA — 0.4%* | *FNMA — 0.4%* | *FNMA — 0.4%* | *FNMA — 0.4%* |
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 1/1/52 | &nbsp;&nbsp; 382299<br>| &nbsp;&nbsp;&nbsp; 326428<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 8/1/53 | &nbsp;&nbsp; 321359<br>| &nbsp;&nbsp;&nbsp; 324900<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 5/1/54 | &nbsp;&nbsp; 488931<br>| &nbsp;&nbsp;&nbsp; 501095<br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/54 | &nbsp;&nbsp; 196089<br>| &nbsp;&nbsp;&nbsp; 195738<br>|
| *Total FNMA* | *Total FNMA* | *Total FNMA* | *Total FNMA* | &nbsp;&nbsp; *1348161* |
| *GNMA — 0.1%* | *GNMA — 0.1%* | *GNMA — 0.1%* | *GNMA — 0.1%* | *GNMA — 0.1%* |
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 5/20/48 | &nbsp;&nbsp; 80996<br>| &nbsp;&nbsp;&nbsp; 78160<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 9/20/50 | &nbsp;&nbsp; 97206<br>| &nbsp;&nbsp;&nbsp; 96870<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 5/20/52 | &nbsp;&nbsp; 151216<br>| &nbsp;&nbsp;&nbsp; 131037<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 5/20/52 | &nbsp;&nbsp; 151412<br>| &nbsp;&nbsp;&nbsp; 139904<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 5/20/53 | &nbsp;&nbsp; 79042<br>| &nbsp;&nbsp;&nbsp; 80358<br>|
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/20/53 | &nbsp;&nbsp; 85673<br>| &nbsp;&nbsp;&nbsp; 85608<br>|
| *Total GNMA* | *Total GNMA* | *Total GNMA* | *Total GNMA* | &nbsp;&nbsp; *611937* |
| **Total Mortgage-Backed Securities (Cost — $2,199,127)** | **Total Mortgage-Backed Securities (Cost — $2,199,127)** | **Total Mortgage-Backed Securities (Cost — $2,199,127)** | **Total Mortgage-Backed Securities (Cost — $2,199,127)** | &nbsp;&nbsp; **2236302** |
|  |  |  | Shares |  |
| **Common Stocks — 0.3%** | **Common Stocks — 0.3%** | **Common Stocks — 0.3%** | **Common Stocks — 0.3%** | **Common Stocks — 0.3%** |
| **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** | **Communication Services — 0.2%** |
| *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Altice France Luxco | &nbsp;&nbsp;&nbsp; Altice France Luxco |  | &nbsp;&nbsp; 29268 | &nbsp;&nbsp;&nbsp; **491,024**<br> \*<br>|
| **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; 11809 | &nbsp;&nbsp;&nbsp; **411,189**<br> \*<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; 603 | &nbsp;&nbsp;&nbsp; 217<br> \*<sup>(e)(r)</sup><br>|
| &nbsp;&nbsp;&nbsp; Spirit Aviation Holdings Inc. | &nbsp;&nbsp;&nbsp; Spirit Aviation Holdings Inc. |  | &nbsp;&nbsp; 104017 | &nbsp;&nbsp;&nbsp; 37,446<br> \*<br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **37663** |
| **Materials — 0.0%††** | **Materials — 0.0%††** | **Materials — 0.0%††** | **Materials — 0.0%††** | **Materials — 0.0%††** |
| *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* | *Metals & Mining — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Arctic Canadian Diamond Co. Ltd. | &nbsp;&nbsp;&nbsp; Arctic Canadian Diamond Co. Ltd. |  | &nbsp;&nbsp; 1388 | &nbsp;&nbsp;&nbsp; **19,952**<br> \*<sup>(e)(f)</sup><br>|
| **Total Common Stocks (Cost — $1,969,521)** | **Total Common Stocks (Cost — $1,969,521)** | **Total Common Stocks (Cost — $1,969,521)** | **Total Common Stocks (Cost — $1,969,521)** | &nbsp;&nbsp;&nbsp; **959828**<br>|
|  | Rate | &nbsp;&nbsp; Maturity <br>Date<br>| &nbsp;&nbsp; Face <br>Amount†<br>|  |
| **Convertible Bonds & Notes — 0.1%** | **Convertible Bonds & Notes — 0.1%** | **Convertible Bonds & Notes — 0.1%** | **Convertible Bonds & Notes — 0.1%** | **Convertible Bonds & Notes — 0.1%** |
| **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 (Cost — $239,359) | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 219000<br>| &nbsp;&nbsp;&nbsp; **233837**<br>|
| **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** | **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** | **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** | **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** | **Non-U.S. Treasury Inflation Protected Securities — 0.0%††** |
| *Uruguay — 0.0%††* | *Uruguay — 0.0%††* | *Uruguay — 0.0%††* | *Uruguay — 0.0%††* | *Uruguay — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Uruguay Government International Bond, Senior Notes (Cost — $156,995) | &nbsp;&nbsp; 3.400% | &nbsp;&nbsp; 5/16/45 | &nbsp;&nbsp; 6075784 <br><sup>UYU</sup><br>| &nbsp;&nbsp;&nbsp; **156417**<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Security |  |  | &nbsp;&nbsp; Expiration <br>Date <br>| Warrants | Value |
| **Warrants — 0.0%††** | **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%††** | **Industrials — 0.0%††** |
| *Passenger Airlines — 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 — $899,660) | &nbsp;&nbsp;&nbsp; Spirit Airlines LLC (Cost — $899,660) |  | &nbsp;&nbsp; 3/12/30 | &nbsp;&nbsp; 73904<br>| &nbsp;&nbsp;&nbsp; **$26,606**<br> \*<sup>(a)(e)(r)</sup><br>|
|  |  |  |  | Rights |  |
| **Rights — 0.0%††** | **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%††** | **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%††* | *Diversified Telecommunication Services — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Altice France Luxco (Cost — $0) | &nbsp;&nbsp;&nbsp; Altice France Luxco (Cost — $0) |  | &nbsp;&nbsp; — | &nbsp;&nbsp; 1455 | &nbsp;&nbsp;&nbsp; **21,948**<br> \*<br>|
|  | Counterparty | Expiration <br>Date<br>| Contracts | &nbsp;&nbsp; Notional <br>Amount†<br>|  |
| **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** | **Purchased Options — 0.0%††** |
| **OTC Purchased Options — 0.0%††** | **OTC Purchased Options — 0.0%††** | **OTC Purchased Options — 0.0%††** | **OTC Purchased Options — 0.0%††** | **OTC Purchased Options — 0.0%††** | **OTC Purchased Options — 0.0%††** |
| &nbsp;&nbsp;&nbsp; U.S. Dollar/Chinese Yuan Renminbi, Call @ <br> 7.175<sup>CNY</sup> (Cost — $8,620)<br>| JPMorgan Chase & <br> Co.<br>| 11/12/25 | &nbsp;&nbsp; 5904000 | &nbsp;&nbsp; 5904000 | &nbsp;&nbsp;&nbsp; **83**<br>|
| **Total Investments before Short-Term Investments (Cost — $346,018,371)** | **Total Investments before Short-Term Investments (Cost — $346,018,371)** | **Total Investments before Short-Term Investments (Cost — $346,018,371)** | **Total Investments before Short-Term Investments (Cost — $346,018,371)** | **Total Investments before Short-Term Investments (Cost — $346,018,371)** | &nbsp;&nbsp; **336534621** |
|  |  | Rate |  | Shares |  |
| **Short-Term Investments — 1.3%** | **Short-Term Investments — 1.3%** | **Short-Term Investments — 1.3%** | **Short-Term Investments — 1.3%** | **Short-Term Investments — 1.3%** | **Short-Term Investments — 1.3%** |
| &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium <br> Shares (Cost — $4,595,480)  | &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium <br> Shares (Cost — $4,595,480)  | &nbsp;&nbsp; 3.976% |  | &nbsp;&nbsp; 4595480<br>| &nbsp;&nbsp;&nbsp;&nbsp; **4595480**<br> <sup>(s)(t)</sup><br>|
| **Total Investments — 98.2% (Cost — $350,613,851)** | **Total Investments — 98.2% (Cost — $350,613,851)** | **Total Investments — 98.2% (Cost — $350,613,851)** | **Total Investments — 98.2% (Cost — $350,613,851)** | **Total Investments — 98.2% (Cost — $350,613,851)** | &nbsp;&nbsp; **341130101** |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 1.8% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 1.8% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 1.8% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 1.8% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 1.8% | &nbsp;&nbsp;&nbsp; 6340889 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$347470990** |

---

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

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

---

| | |
|:---|:---|
| † | Face amount/notional amount denominated in U.S. dollars, unless otherwise noted. |
| †† | Represents less than 0.1%. |
| \* | Non-income producing security. |
| <sup>(a)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees. <br>|
| <sup>(b)</sup> | Securities traded on a when-issued or delayed delivery basis. |
| <sup>(c)</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>(d)</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>(e)</sup> | Security is fair valued in accordance with procedures approved by the Board of Trustees (Note 1). |
| <sup>(f)</sup> | Security is valued using significant unobservable inputs (Note 1). |
| <sup>(g)</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>(h)</sup> | Security has no maturity date. The date shown represents the next call date. |
| <sup>(i)</sup> | Value is less than $1. |
| <sup>(j)</sup> | The coupon payment on this security is currently in default as of October 31, 2025. |
| <sup>(k)</sup> | The maturity principal is currently in default as of October 31, 2025. |
| <sup>(l)</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>(m)</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>(n)</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>(o)</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>(p)</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 $253,963 and $254,101, respectively.<br>|
| <sup>(q)</sup> | Rate shown is the current yield based on income received over the trailing twelve months. |
| <sup>(r)</sup> | Restricted security (Note 3). |
| <sup>(s)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |
| <sup>(t)</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 $4,595,480 and the cost was $4,595,480 (Note 2).<br>|

---

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

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

---

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

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; <br> Number of <br>Contracts<br>| &nbsp;&nbsp;&nbsp; <br> Expiration <br>Date<br>| &nbsp;&nbsp;&nbsp; <br> Notional <br>Amount<br>| &nbsp;&nbsp;&nbsp; <br> Market <br>Value<br>| &nbsp;&nbsp;&nbsp; <br> Unrealized <br>Appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(Depreciation)<br>|
| **Contracts to Buy:** |  |  |  |  |  |
| Australian 10-Year Bonds | &nbsp;&nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp;&nbsp;&nbsp; 12/25 | &nbsp;&nbsp;&nbsp;&nbsp; $3728347 | &nbsp;&nbsp;&nbsp;&nbsp; $3716833 | &nbsp;&nbsp;&nbsp;&nbsp; $(11514) |
| Euro-Bund | &nbsp;&nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp;&nbsp;&nbsp; 12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 2359727 | &nbsp;&nbsp;&nbsp;&nbsp; 2386262 | &nbsp;&nbsp;&nbsp;&nbsp; 26535 |
| U.S. Treasury 2-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 259 | &nbsp;&nbsp;&nbsp;&nbsp; 12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 53911837 | &nbsp;&nbsp;&nbsp;&nbsp; 53934727 | &nbsp;&nbsp;&nbsp;&nbsp; 22890 |
| U.S. Treasury 5-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 481 | &nbsp;&nbsp;&nbsp;&nbsp; 12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 52497845 | &nbsp;&nbsp;&nbsp;&nbsp; 52530462 | &nbsp;&nbsp;&nbsp;&nbsp; 32617 |
| U.S. Treasury 10-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp;&nbsp;&nbsp; 12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 8739701 | &nbsp;&nbsp;&nbsp;&nbsp; 8788407 | &nbsp;&nbsp;&nbsp;&nbsp; 48706 |
| U.S. Treasury Ultra Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp;&nbsp;&nbsp; 12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4099436 | &nbsp;&nbsp;&nbsp;&nbsp; 4244843 | &nbsp;&nbsp;&nbsp;&nbsp; 145407 |
| United Kingdom Long Gilt Bonds | &nbsp;&nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp;&nbsp;&nbsp; 12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1781404 | &nbsp;&nbsp;&nbsp;&nbsp; 1844829 | &nbsp;&nbsp;&nbsp;&nbsp; 63425 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 328066 |
| **Contracts to Sell:** |  |  |  |  |  |
| 3-Month SOFR | &nbsp;&nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp;&nbsp;&nbsp; 3/27 | &nbsp;&nbsp;&nbsp;&nbsp; 7264062 | &nbsp;&nbsp;&nbsp;&nbsp; 7266000 | &nbsp;&nbsp;&nbsp;&nbsp; (1938) |
| Euro-Bobl | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1357808 | &nbsp;&nbsp;&nbsp;&nbsp; 1363124 | &nbsp;&nbsp;&nbsp;&nbsp; (5316) |
| U.S. Treasury Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; 12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1400020 | &nbsp;&nbsp;&nbsp;&nbsp; 1407750 | &nbsp;&nbsp;&nbsp;&nbsp; (7730) |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (14984) |
| **Net unrealized appreciation on open futures contracts** | **Net unrealized appreciation on open futures contracts** | **Net unrealized appreciation on open futures contracts** | **Net unrealized appreciation on open futures contracts** | **Net unrealized appreciation on open futures contracts** | &nbsp;&nbsp;&nbsp; **$313082** |

---

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

---

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

---

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>|
| BRL | &nbsp;&nbsp; 16030000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 2997382 | JPMorgan Chase & Co. | &nbsp;&nbsp; 11/4/25 | &nbsp;&nbsp; $(21720) |
| BRL | &nbsp;&nbsp; 16030000 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 2977174 | JPMorgan Chase & Co. | &nbsp;&nbsp; 11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp; (1512) |
| USD | &nbsp;&nbsp;&nbsp; 2977174 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 16030000 | JPMorgan Chase & Co. | &nbsp;&nbsp; 11/4/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1512 |
| USD | &nbsp;&nbsp;&nbsp; 2989946 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 16030000 | JPMorgan Chase & Co. | &nbsp;&nbsp; 11/4/25 | &nbsp;&nbsp;&nbsp; 14284 |

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Currency<br> Purchased | Currency<br> Purchased | Currency<br> Sold | Currency<br> Sold | Counterparty | Settlement<br> Date<br>| Unrealized<br> Appreciation<br> (Depreciation)<br>|
| CNH | &nbsp;&nbsp;&nbsp; 9042894 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1269000 | JPMorgan Chase & Co. | &nbsp;&nbsp; 11/14/25 | &nbsp;&nbsp; $1780 |
| USD | &nbsp;&nbsp;&nbsp; 2977534 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 16030000 | JPMorgan Chase & Co. | &nbsp;&nbsp; 12/2/25 | &nbsp;&nbsp;&nbsp; 22023 |
| USD | &nbsp;&nbsp;&nbsp; 4162443 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 77260362 | Bank of America N.A. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp;&nbsp; 37560 |
| USD | &nbsp;&nbsp;&nbsp; 5465068 | &nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp; 4063486 | BNP Paribas SA | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp; 126749 |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21388 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14018 | Citibank N.A. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14) |
| CNH | &nbsp;&nbsp;&nbsp; 2152958 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 303304 | Citibank N.A. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 504 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 116042 | &nbsp;&nbsp; CAD | &nbsp;&nbsp;&nbsp;&nbsp; 161112 | Citibank N.A. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 717 |
| USD | &nbsp;&nbsp;&nbsp; 2701344 | &nbsp;&nbsp; INR | &nbsp;&nbsp; 241113823 | Citibank N.A. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp; (3738) |
| JPY | &nbsp;&nbsp; 255058474 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1704282 | JPMorgan Chase & Co. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp; (36367) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 604000 | &nbsp;&nbsp; CNH | &nbsp;&nbsp;&nbsp; 4288436 | JPMorgan Chase & Co. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp; (1151) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 604000 | &nbsp;&nbsp; CNH | &nbsp;&nbsp;&nbsp; 4290798 | JPMorgan Chase & Co. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp; (1484) |
| USD | &nbsp;&nbsp;&nbsp; 1162643 | &nbsp;&nbsp; EUR | &nbsp;&nbsp;&nbsp; 1000876 | JPMorgan Chase & Co. | &nbsp;&nbsp; 1/16/26 | &nbsp;&nbsp;&nbsp;&nbsp; 3996 |
| **Net unrealized appreciation on open forward foreign currency contracts** | **Net unrealized appreciation on open forward foreign currency contracts** | **Net unrealized appreciation on open forward foreign currency contracts** | **Net unrealized appreciation on open forward foreign currency contracts** | **Net unrealized appreciation on open forward foreign currency contracts** | **Net unrealized appreciation on open forward foreign currency contracts** | &nbsp;&nbsp; **$143139** |

---

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

---

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

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  | <br> **OTC INTEREST RATE SWAPS**  |
| Swap Counterparty | Notional <br>Amount\*<br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Depreciation<br>|
| Bank of America N.A. | 73787000<sup>BRL</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1/2/26 | BRL-CDI\*\* | 11.035%\*\* | &nbsp;&nbsp;&nbsp;&nbsp; $(384572) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; $(384572) |
| JPMorgan Chase & Co. | 27000000<sup>BRL</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1/4/27 | BRL-CDI\*\* | 13.165%\*\* | &nbsp;&nbsp;&nbsp;&nbsp; (54467) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (54467) |
| JPMorgan Chase & Co. | 38560000<sup>BRL</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; 1/2/29 | BRL-CDI\*\* | 10.230%\*\* | &nbsp;&nbsp;&nbsp;&nbsp; (641905) | &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (641905) |
| **Total** |  |  |  |  | &nbsp;&nbsp;&nbsp; **$(1080944)** | &nbsp;&nbsp;&nbsp; **—** | &nbsp;&nbsp;&nbsp; **$(1080944)** |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  |
| &nbsp;&nbsp;&nbsp;&nbsp; Notional <br>Amount\*<br>| &nbsp;&nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; 86000000<sup>MXN</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11/19/29 | &nbsp;&nbsp;&nbsp;&nbsp; 28-Day MXN TIIE - Banxico <br>every 28 days<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8.825% <br>every 28 days<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$268170** | &nbsp;&nbsp;&nbsp;&nbsp; **—** | &nbsp;&nbsp;&nbsp;&nbsp; **$268170** |

---

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

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <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>| $706000 | 12/20/29 | &nbsp;&nbsp;&nbsp;&nbsp; 4.783% | 5.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; $5285 | &nbsp;&nbsp;&nbsp;&nbsp; $27072 | &nbsp;&nbsp;&nbsp;&nbsp; $(21787) |
| Caesars Entertainment Inc., <br> 4.625%, due 10/15/29<br>| &nbsp;&nbsp;&nbsp;&nbsp; 595000 | 6/20/30 | &nbsp;&nbsp;&nbsp;&nbsp; 2.893% | 5.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 50409 | &nbsp;&nbsp;&nbsp;&nbsp; 60832 | &nbsp;&nbsp;&nbsp;&nbsp; (10423) |
| Nabors Industries Inc., 9.125%, <br> due 1/31/30<br>| &nbsp;&nbsp;&nbsp;&nbsp; 273000 | 6/20/29 | &nbsp;&nbsp;&nbsp;&nbsp; 3.891% | 1.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; (25506) | &nbsp;&nbsp;&nbsp;&nbsp; (31390) | &nbsp;&nbsp;&nbsp;&nbsp; 5884 |
| **Total** | **$1574000** |  |  |  | &nbsp;&nbsp;&nbsp; **$30188** | &nbsp;&nbsp;&nbsp; **$56514** | &nbsp;&nbsp;&nbsp; **$(26326)** |

---

&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>|
| MGM Resorts International, <br> 4.750%, due 10/15/28<br>| $595000 | 6/20/30 | &nbsp;&nbsp;&nbsp;&nbsp; 1.961% | 5.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; $(74501) | &nbsp;&nbsp;&nbsp;&nbsp; $(74420) | &nbsp;&nbsp;&nbsp;&nbsp; $(81) |
| Transocean Inc., 8.000%, due <br> 2/1/27<br>| 273000 | 6/20/29 | &nbsp;&nbsp;&nbsp;&nbsp; 3.038% | 1.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 18197 | &nbsp;&nbsp;&nbsp;&nbsp; 25349 | &nbsp;&nbsp;&nbsp;&nbsp; (7152) |
| **Total** | **$868000** |  |  |  | &nbsp;&nbsp;&nbsp; **$(56304)** | &nbsp;&nbsp;&nbsp; **$(49071)** | &nbsp;&nbsp;&nbsp; **$(7233)** |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  |
| Reference Entity | Notional <br>Amount<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<sup>5</sup> <br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Depreciation<br>|
| Markit CDX.NA.HY.45 Index | $15446000 | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/30 | 5.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; $1122328 | &nbsp;&nbsp;&nbsp;&nbsp; $1154992 | &nbsp;&nbsp;&nbsp;&nbsp; $(32664) |
| Markit CDX.NA.IG.45 Index | 14552000 | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/30 | 1.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 321184 | &nbsp;&nbsp;&nbsp;&nbsp; 328354 | &nbsp;&nbsp;&nbsp;&nbsp; (7170) |
| **Total** | **$29998000** |  |  | &nbsp;&nbsp;&nbsp; **$1443512** | &nbsp;&nbsp;&nbsp; **$1483346** | &nbsp;&nbsp;&nbsp; **$(39834)** |

---

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

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  |
| Swap <br>Counterparty<br>| Notional <br>Amount<br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>‡</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation<br>|
| JPMorgan Chase & Co. | $4793000 | &nbsp;&nbsp;&nbsp;&nbsp; 1/8/26 | &nbsp;&nbsp;&nbsp;&nbsp; Daily SOFR <br>Compound + <br>1.100%\*\*<br>| JPEIFNTR^\*\* | &nbsp;&nbsp;&nbsp; **$247413** | &nbsp;&nbsp;&nbsp; **—** | &nbsp;&nbsp;&nbsp; **$247413** |

---

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

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

 **Western Asset Income Fund**

---

| | |
|:---|:---|
| <sup>1</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to <br> the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities <br> comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the <br> recovery value of the referenced obligation or underlying securities comprising the referenced index.<br>|
| <sup>2</sup> | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event <br> occurs as defined under the terms of that particular swap agreement.<br>|
| <sup>3</sup> | Implied credit spreads, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end, serve <br> as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied <br> credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter <br> into the agreement. Wider credit spreads represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of default or <br> other credit event occurring as defined under the terms of the agreement. A credit spread identified as "Defaulted" indicates a credit event has occurred for <br> the referenced entity or obligation.<br>|
| <sup>4</sup> | If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive <br> from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or the underlying securities <br> comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the <br> recovery value of the referenced obligation or the underlying securities comprising the referenced index.<br>|
| <sup>5</sup> | The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the <br> current status of the payment/performance risk and represent the likelihood of an expected loss (or profit) for the credit derivative had the notional amount <br> of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection), when <br> compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of <br> default or other credit event occurring as defined under the terms of the agreement.<br>|
| † | Percentage shown is an annual percentage rate. |
| ‡ | Periodic payments made/received by the Fund are based on the total return of the referenced entity. |
| ^ | Custom emerging markets debt basket is comprised of 41 bonds in the Sovereign Frontier sector. |
| \* | Notional amount denominated in U.S. dollars, unless otherwise noted. |
| \*\* | One time payment made at termination date. |

---

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

---

| | |
|:---|:---|
| Reference Index | Reference <br>Rate<br>|
| &nbsp;&nbsp;&nbsp; 28-Day MXN TIIE - Banxico | 7.781% |
| &nbsp;&nbsp;&nbsp; BRL-CDI | 14.900% |
| &nbsp;&nbsp;&nbsp; Daily SOFR Compound | 4.220% |

---

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

---

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

---

See Notes to Schedule of Investments.

------

Western Asset Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

October 31, 2025

 **Western Asset Income Fund**

The following table provides information about the underlying components of the JPEIFNTR total return swap, as of period end.

---

| | | | |
|:---|:---|:---|:---|
| Security | &nbsp;&nbsp;&nbsp; Face <br>Amount<br>| Value | Weight |
| &nbsp;&nbsp;&nbsp; Angolan Government International Bond, 9.125% due <br> 11/26/49<br>| &nbsp;&nbsp;&nbsp;&nbsp; $12070000 | &nbsp;&nbsp;&nbsp;&nbsp; $12070000 | &nbsp;&nbsp;&nbsp;&nbsp; 5.47% |
| &nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond, <br> 3.500% due 7/9/41<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8080000 | &nbsp;&nbsp;&nbsp;&nbsp; 5260080 | &nbsp;&nbsp;&nbsp;&nbsp; 2.84% |
| &nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond, <br> 5.000% due 1/9/38<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8650000 | &nbsp;&nbsp;&nbsp;&nbsp; 6349100 | &nbsp;&nbsp;&nbsp;&nbsp; 3.43% |
| &nbsp;&nbsp;&nbsp; Bahamas Government International Bond, 8.250% due <br> 6/24/36<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6200000 | &nbsp;&nbsp;&nbsp;&nbsp; 6709950 | &nbsp;&nbsp;&nbsp;&nbsp; 3.62% |
| &nbsp;&nbsp;&nbsp; Benin Government International Bond, 7.960% due 2/13/38 | &nbsp;&nbsp;&nbsp;&nbsp; 4860000 | &nbsp;&nbsp;&nbsp;&nbsp; 5054400 | &nbsp;&nbsp;&nbsp;&nbsp; 2.73% |
| &nbsp;&nbsp;&nbsp; Costa Rica Government International Bond, 6.550% due <br> 4/3/34<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5810000 | &nbsp;&nbsp;&nbsp;&nbsp; 6251560 | &nbsp;&nbsp;&nbsp;&nbsp; 3.38% |
| &nbsp;&nbsp;&nbsp; Dominican Republic International Bond, 4.500% due <br> 1/30/30<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9540000 | &nbsp;&nbsp;&nbsp;&nbsp; 9330120 | &nbsp;&nbsp;&nbsp;&nbsp; 5.04% |
| &nbsp;&nbsp;&nbsp; Ecuador Government International Bond, 6.900% due <br> 7/31/35<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9150000 | &nbsp;&nbsp;&nbsp;&nbsp; 6998061 | &nbsp;&nbsp;&nbsp;&nbsp; 3.78% |
| &nbsp;&nbsp;&nbsp; Egypt Government International Bond, 5.800% due 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp; 5270000 | &nbsp;&nbsp;&nbsp;&nbsp; 5277852 | &nbsp;&nbsp;&nbsp;&nbsp; 2.85% |
| &nbsp;&nbsp;&nbsp; Egypt Government International Bond, 7.903% due 2/21/48 | &nbsp;&nbsp;&nbsp;&nbsp; 4170000 | &nbsp;&nbsp;&nbsp;&nbsp; 3620290 | &nbsp;&nbsp;&nbsp;&nbsp; 1.95% |
| &nbsp;&nbsp;&nbsp; El Salvador Government International Bond, 7.125% due <br> 1/20/50<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7580000 | &nbsp;&nbsp;&nbsp;&nbsp; 6830907 | &nbsp;&nbsp;&nbsp;&nbsp; 3.69% |
| &nbsp;&nbsp;&nbsp; Ethiopia International Bond, 6.625% due 12/11/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 10970000 | &nbsp;&nbsp;&nbsp;&nbsp; 11229814 | &nbsp;&nbsp;&nbsp;&nbsp; 6.06% |
| &nbsp;&nbsp;&nbsp; Ghana Government International Bond, 5.000% due 7/3/29 | &nbsp;&nbsp;&nbsp;&nbsp; 2716043 | &nbsp;&nbsp;&nbsp;&nbsp; 2648142 | &nbsp;&nbsp;&nbsp;&nbsp; 1.43% |
| &nbsp;&nbsp;&nbsp; Ghana Government International Bond, 5.000% due 7/3/35 | &nbsp;&nbsp;&nbsp;&nbsp; 3905715 | &nbsp;&nbsp;&nbsp;&nbsp; 3344268 | &nbsp;&nbsp;&nbsp;&nbsp; 1.81% |
| &nbsp;&nbsp;&nbsp; Guatemala Government Bond, 5.375% due 4/24/32 | &nbsp;&nbsp;&nbsp;&nbsp; 4940000 | &nbsp;&nbsp;&nbsp;&nbsp; 5001750 | &nbsp;&nbsp;&nbsp;&nbsp; 2.70% |
| &nbsp;&nbsp;&nbsp; Ivory Coast Government International Bond, 7.625% due <br> 1/30/33<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10570000 | &nbsp;&nbsp;&nbsp;&nbsp; 11116998 | &nbsp;&nbsp;&nbsp;&nbsp; 6.00% |
| &nbsp;&nbsp;&nbsp; Jordan Government International Bond, 7.500% due <br> 1/13/29<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4710000 | &nbsp;&nbsp;&nbsp;&nbsp; 4974938 | &nbsp;&nbsp;&nbsp;&nbsp; 2.69% |
| &nbsp;&nbsp;&nbsp; Mozambique International Bond, 9.000% due 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp; 5550000 | &nbsp;&nbsp;&nbsp;&nbsp; 4794534 | &nbsp;&nbsp;&nbsp;&nbsp; 2.59% |
| &nbsp;&nbsp;&nbsp; Nigeria Government International Bond, 7.375% due <br> 9/28/33<br>| &nbsp;&nbsp;&nbsp;&nbsp; 13830000 | &nbsp;&nbsp;&nbsp;&nbsp; 13341663 | &nbsp;&nbsp;&nbsp;&nbsp; 7.20% |
| &nbsp;&nbsp;&nbsp; Paraguay Government International Bond, 6.100% due <br> 8/11/44<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5750000 | &nbsp;&nbsp;&nbsp;&nbsp; 5943540 | &nbsp;&nbsp;&nbsp;&nbsp; 3.21% |
| &nbsp;&nbsp;&nbsp; Petroleos de Venezuela SA, 5.375% due 4/12/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 34000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7470320 | &nbsp;&nbsp;&nbsp;&nbsp; 4.03% |
| &nbsp;&nbsp;&nbsp; Provincia de Buenos Aires/Government Bonds, 6.625% due <br> 9/1/37<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5319673 | &nbsp;&nbsp;&nbsp;&nbsp; 3584455 | &nbsp;&nbsp;&nbsp;&nbsp; 1.94% |
| &nbsp;&nbsp;&nbsp; Republic of Kenya Government International Bond, 6.300% <br> due 1/23/34<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12750000 | &nbsp;&nbsp;&nbsp;&nbsp; 11290125 | &nbsp;&nbsp;&nbsp;&nbsp; 6.10% |
| &nbsp;&nbsp;&nbsp; Republic of Uzbekistan International Bond, 3.900% due <br> 10/19/31<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3810000 | &nbsp;&nbsp;&nbsp;&nbsp; 3536156 | &nbsp;&nbsp;&nbsp;&nbsp; 1.91% |
| &nbsp;&nbsp;&nbsp; Senegal Government International Bond, 6.250% due <br> 5/23/33<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3780000 | &nbsp;&nbsp;&nbsp;&nbsp; 2683800 | &nbsp;&nbsp;&nbsp;&nbsp; 1.45% |
| &nbsp;&nbsp;&nbsp; Senegal Government International Bond, 6.750% due <br> 3/13/48<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3230000 | &nbsp;&nbsp;&nbsp;&nbsp; 2038938 | &nbsp;&nbsp;&nbsp;&nbsp; 1.10% |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 3.100% due <br> 1/15/30<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2330000 | &nbsp;&nbsp;&nbsp;&nbsp; 2194860 | &nbsp;&nbsp;&nbsp;&nbsp; 1.19% |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 3.350% due <br> 3/15/33<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1693000 | &nbsp;&nbsp;&nbsp;&nbsp; 1474603 | &nbsp;&nbsp;&nbsp;&nbsp; 0.80% |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 3.600% due <br> 6/15/35<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3080000 | &nbsp;&nbsp;&nbsp;&nbsp; 2380868 | &nbsp;&nbsp;&nbsp;&nbsp; 1.29% |

---

See Notes to Schedule of Investments.

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Western Asset Income Fund 2025 Quarterly Report

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 **Western Asset Income Fund**

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| | | | |
|:---|:---|:---|:---|
| Security | &nbsp;&nbsp;&nbsp; Face<br> Amount<br>| Value | Weight |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 3.600% due <br> 5/15/36<br>| &nbsp;&nbsp;&nbsp;&nbsp; $793000 | &nbsp;&nbsp;&nbsp;&nbsp; $723613 | &nbsp;&nbsp;&nbsp;&nbsp; 0.39% |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 3.600% due <br> 2/15/38<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1587000 | &nbsp;&nbsp;&nbsp;&nbsp; 1464008 | &nbsp;&nbsp;&nbsp;&nbsp; 0.79% |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 4.000% due <br> 4/15/28<br>| &nbsp;&nbsp;&nbsp;&nbsp; 890914 | &nbsp;&nbsp;&nbsp;&nbsp; 622869 | &nbsp;&nbsp;&nbsp;&nbsp; 0.34% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 0.000% due <br> 2/1/30<br>| &nbsp;&nbsp;&nbsp;&nbsp; 537010 | &nbsp;&nbsp;&nbsp;&nbsp; 283273 | &nbsp;&nbsp;&nbsp;&nbsp; 0.15% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 0.000% due <br> 2/1/34<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2006721 | &nbsp;&nbsp;&nbsp;&nbsp; 835799 | &nbsp;&nbsp;&nbsp;&nbsp; 0.45% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 0.000% due <br> 2/1/35<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1695820 | &nbsp;&nbsp;&nbsp;&nbsp; 862324 | &nbsp;&nbsp;&nbsp;&nbsp; 0.47% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 0.000% due <br> 2/1/36<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1413184 | &nbsp;&nbsp;&nbsp;&nbsp; 717191 | &nbsp;&nbsp;&nbsp;&nbsp; 0.39% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 4.500% due <br> 2/1/34<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3870000 | &nbsp;&nbsp;&nbsp;&nbsp; 2171070 | &nbsp;&nbsp;&nbsp;&nbsp; 1.17% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 4.500% due <br> 2/1/35<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2380000 | &nbsp;&nbsp;&nbsp;&nbsp; 1320900 | &nbsp;&nbsp;&nbsp;&nbsp; 0.71% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 4.500% due <br> 2/1/36<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1966168 | &nbsp;&nbsp;&nbsp;&nbsp; 1078443 | &nbsp;&nbsp;&nbsp;&nbsp; 0.58% |
| &nbsp;&nbsp;&nbsp; Zambia Government International Bond, 0.500% due <br> 12/31/53<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3525852 | &nbsp;&nbsp;&nbsp;&nbsp; 2451974 | &nbsp;&nbsp;&nbsp;&nbsp; 1.32% |
| &nbsp;&nbsp;&nbsp; Zambia Government International Bond, 5.750% due <br> 6/30/33<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2655488<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1786882 | &nbsp;&nbsp;&nbsp;&nbsp; 0.96% |
| **Total** |  | &nbsp;&nbsp;&nbsp; **$185189237**  | &nbsp;&nbsp;&nbsp; **100.00%** |

---

<sup>(a)</sup>

The coupon payment on this security is currently in default as of October 31, 2025.

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.

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Western Asset Income Fund 2025 Quarterly Report

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Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

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

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

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

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

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

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

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

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Western Asset Income Fund 2025 Quarterly Report

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Energy | &nbsp;&nbsp; — | &nbsp;&nbsp; $26548811 | &nbsp;&nbsp; $2980865 | &nbsp;&nbsp; $29529676 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | &nbsp;&nbsp; — | &nbsp;&nbsp; 15440359 | &nbsp;&nbsp; 0<br> \*<br>| &nbsp;&nbsp; 15440359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 95581826 | &nbsp;&nbsp; — | &nbsp;&nbsp; 95581826 |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 66710070 | &nbsp;&nbsp; — | &nbsp;&nbsp; 66710070 |
| &nbsp;&nbsp;&nbsp; Senior Loans: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; — | &nbsp;&nbsp; 9006965 | &nbsp;&nbsp; 1419245 | &nbsp;&nbsp; 10426210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | &nbsp;&nbsp; — | &nbsp;&nbsp; 11835819 | &nbsp;&nbsp; 864622 | &nbsp;&nbsp; 12700441 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | &nbsp;&nbsp; — | &nbsp;&nbsp; 8724186 | &nbsp;&nbsp; 324357 | &nbsp;&nbsp; 9048543 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | &nbsp;&nbsp; — | &nbsp;&nbsp; 6466812 | &nbsp;&nbsp; 1328423 | &nbsp;&nbsp; 7795235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Information Technology | &nbsp;&nbsp; — | &nbsp;&nbsp; 8612869 | &nbsp;&nbsp; 903716 | &nbsp;&nbsp; 9516585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | &nbsp;&nbsp; — | &nbsp;&nbsp; 958275 | &nbsp;&nbsp; 1403808 | &nbsp;&nbsp; 2362083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Senior Loans | &nbsp;&nbsp; — | &nbsp;&nbsp; 8975019 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8975019 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 42992796 | &nbsp;&nbsp; — | &nbsp;&nbsp; 42992796 |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 19523375 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19523375 |
| &nbsp;&nbsp;&nbsp; U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 2297382 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2297382 |
| &nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 2236302 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2236302 |
| &nbsp;&nbsp;&nbsp; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | &nbsp;&nbsp; — | &nbsp;&nbsp; 491024 | &nbsp;&nbsp; — | &nbsp;&nbsp; 491024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; $411189 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 411189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Industrials | &nbsp;&nbsp; 37446 | &nbsp;&nbsp; 217 | &nbsp;&nbsp; — | &nbsp;&nbsp; 37663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Materials | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 19952 | &nbsp;&nbsp; 19952 |
| &nbsp;&nbsp;&nbsp; Convertible Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 233837 | &nbsp;&nbsp; — | &nbsp;&nbsp; 233837 |
| &nbsp;&nbsp;&nbsp; Non-U.S. Treasury Inflation Protected Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 156417 | &nbsp;&nbsp; — | &nbsp;&nbsp; 156417 |
| &nbsp;&nbsp;&nbsp; Warrants | &nbsp;&nbsp; — | &nbsp;&nbsp; 26606 | &nbsp;&nbsp; — | &nbsp;&nbsp; 26606 |
| &nbsp;&nbsp;&nbsp; Rights | &nbsp;&nbsp; — | &nbsp;&nbsp; 21948 | &nbsp;&nbsp; — | &nbsp;&nbsp; 21948 |
| &nbsp;&nbsp;&nbsp; Purchased Options | &nbsp;&nbsp; — | &nbsp;&nbsp; 83 | &nbsp;&nbsp; — | &nbsp;&nbsp; 83 |
| Total Long-Term Investments | &nbsp;&nbsp; 448635 | &nbsp;&nbsp; 326840998 | &nbsp;&nbsp; 9244988 | &nbsp;&nbsp; 336534621 |
| Short-Term Investments† | &nbsp;&nbsp; 4595480 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 4595480 |
| **Total Investments** | &nbsp;&nbsp; **$5044115** | &nbsp;&nbsp; **$326840998** | &nbsp;&nbsp; **$9244988** | &nbsp;&nbsp; **$341130101** |

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Western Asset Income Fund 2025 Quarterly Report

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS (cont'd)** | **ASSETS (cont'd)** | **ASSETS (cont'd)** | **ASSETS (cont'd)** | **ASSETS (cont'd)** |
| 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; Futures Contracts†† | &nbsp;&nbsp; $339580 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $339580 |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† | &nbsp;&nbsp; — | &nbsp;&nbsp; $209125 | &nbsp;&nbsp; — | &nbsp;&nbsp; 209125 |
| &nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps†† | &nbsp;&nbsp; — | &nbsp;&nbsp; 268170 | &nbsp;&nbsp; — | &nbsp;&nbsp; 268170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Corporate Issues — <br> Sell Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 5884 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5884 |
| &nbsp;&nbsp;&nbsp; OTC Total Return Swaps | &nbsp;&nbsp; — | &nbsp;&nbsp; 247413 | &nbsp;&nbsp; — | &nbsp;&nbsp; 247413 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; **$339580** | &nbsp;&nbsp; **$730592** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$1070172** |
| **Total** | &nbsp;&nbsp; **$5383695** | &nbsp;&nbsp; **$327571590** | &nbsp;&nbsp; **$9244988** | &nbsp;&nbsp; **$342200273** |
| **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; Futures Contracts†† | &nbsp;&nbsp; $26498 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $26498 |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† | &nbsp;&nbsp; — | &nbsp;&nbsp; $65986 | &nbsp;&nbsp; — | &nbsp;&nbsp; 65986 |
| &nbsp;&nbsp;&nbsp; OTC Interest Rate Swaps | &nbsp;&nbsp; — | &nbsp;&nbsp; 1080944 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1080944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Corporate Issues — <br> Sell Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 32210 | &nbsp;&nbsp; — | &nbsp;&nbsp; 32210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Corporate Issues — <br> Buy Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 7233 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Credit Indices — Sell <br> Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 39834 | &nbsp;&nbsp; — | &nbsp;&nbsp; 39834 |
| **Total** | &nbsp;&nbsp; **$26498** | &nbsp;&nbsp; **$1226207** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$1252705** |

---

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

---

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

---

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

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Investments in <br>Securities<br>| Balance <br>as of <br>July 31, 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 | $2581233 | $1878 |  | $155763 | $241991 |
| &nbsp;&nbsp;&nbsp; Financials | 0<br> \*<br>|  |  |  |  |
| **Senior Loans:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Consumer <br> Discretionary<br>| 1125974 | 694 | $988 | (531)<br>| 1307424 |
| &nbsp;&nbsp;&nbsp; Financials | 864300 | 631 | (495)<br>| 3389 | 1071601 |
| &nbsp;&nbsp;&nbsp; Health Care |  | 741 | (9021)<br>| (309654)<br>| 37718 |
| &nbsp;&nbsp;&nbsp; Industrials | 354757 | 141 | 6 | 9056 | 965349 |
| &nbsp;&nbsp;&nbsp; Information <br> Technology<br>|  | (92)<br>| (3)<br>| (5021)<br>| 237500 |
| &nbsp;&nbsp;&nbsp; Materials | 1368529 |  |  | 191 | 35088 |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | 827400 |  | (4200)<br>| 12600 |  |

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Western Asset Income Fund 2025 Quarterly Report

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---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| 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 |
| **Common Stocks:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Materials | $38040 |  |  | $(18088)<br>|  |
| **Total** | **$7160233** | **$3993** | **$(12725)**<br>| **$(152295)**<br>| **$3896671** |

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&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| Investments in <br>Securities (cont'd)<br>| Sales | Transfers <br>into <br>Level 3<sup>2</sup> <br>| Transfers <br>out of <br>Level 3<sup>3</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 |  |  |  | $2980865 | $155763 |
| &nbsp;&nbsp;&nbsp; Financials |  |  |  | 0<br> \*<br>|  |
| **Senior Loans:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Consumer <br> Discretionary<br>| $(167035)<br>|  | $(848269)<br>| 1419245 | 1551 |
| &nbsp;&nbsp;&nbsp; Financials | (1209)<br>|  | (1073595)<br>| 864622 | 4189 |
| &nbsp;&nbsp;&nbsp; Health Care | (4990)<br>| $609563 |  | 324357 | (309654)<br>|
| &nbsp;&nbsp;&nbsp; Industrials | (886)<br>|  |  | 1328423 | 9056 |
| &nbsp;&nbsp;&nbsp; Information <br> Technology<br>| (1732)<br>| 673064 |  | 903716 | (5021)<br>|
| &nbsp;&nbsp;&nbsp; Materials |  |  |  | 1403808 | 191 |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | (835800)<br>|  |  |  |  |
| **Common Stocks:** |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Materials |  |  |  | 19952 | (18088)<br>|
| **Total** | **$(1011652)**<br>| **$1282627** | **$(1921864)**<br>| **$9244988** | **$(162013)**<br>|

---

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

\* Amount represents less than $1.

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

<sup>2</sup> Transferred into Level 3 as a result of the unavailability of a quoted price in an active market for an identical investment or the unavailability of other significant observable inputs in the valuation obtained from independent third party pricing services or broker/dealer quotations. 

<sup>3</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 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>| $11526843 | $22357095 | 22357095 | $29288458 | 29288458 |

---

------

Western Asset Income Fund 2025 Quarterly Report

------

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

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>|  | $49634 |  | $4595480 |

---

**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>| &nbsp;&nbsp; Acquisition <br>Date<br>| Cost | &nbsp;&nbsp; Fair Value <br>at 10/31/2025<br>| &nbsp;&nbsp; Value Per <br>Share/ <br>Warrant<br>| &nbsp;&nbsp; Percent of <br>Net Assets<br>|
| Spirit Airlines LLC, <br> Common Shares<br>| &nbsp;&nbsp; 603 | 3/25 | &nbsp;&nbsp; $7340 | &nbsp;&nbsp; $217 | &nbsp;&nbsp; $0.36 | 0.00 %<sup>(a)</sup><br>|
| Spirit Airlines LLC, <br> Warrants<br>| &nbsp;&nbsp; 73904 | 3/25 | &nbsp;&nbsp; 899660 | &nbsp;&nbsp; 26606 <br><sup>(b)</sup><br>| 0.36 | 0.01  |
| **Total** |  |  | &nbsp;&nbsp; **$907000** | &nbsp;&nbsp; **$26823** |  | &nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**0.01%**<br>|

---

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

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

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

------

Western Asset Income Fund 2025 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

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

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

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

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

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

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

- **a. Date of fiscal year-end:** 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:** $356752795.72

**Total Liabilities:** $10782735.14

**Net Assets:** $345970060.58

**Delayed Delivery Securities:** $2629509.65

**Stand-by Commitments:** $90121.09

**Cash Not Reported:** $8060389.99

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 234.60000000 | **1-Year:** 8892.24000000 | **5-Year:** 32458.07000000 | **10-Year:** 13682.18000000 | **30-Year:** 648.88000000

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

- **3-Month:** 456.70000000 | **1-Year:** 23733.31000000 | **5-Year:** 43174.32000000 | **10-Year:** 9276.69000000 | **30-Year:** 478.44000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000024372 | 1.35%                | 0.56%                | 0.78%                |
| Class ID C000024374 | 1.29%                | 0.50%                | 0.72%                |
| Class ID C000024375 | 1.37%                | 0.78%                | 0.61%                |
| Class ID C000081533 | 1.31%                | 0.72%                | 0.55%                |
| Class ID C000118995 | 1.38%                | 0.79%                | 0.62%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1082615.58             | $2499586.11                                |
| Month 2  | $43838.33                | $273147.41                                 |
| Month 3  | $-2667546.37             | $2688383.78                                |

### Schedule of Portfolio Investments

| Name                                                                        | Title                                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS CDX.NA.IG.45.V1                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $338161.23    | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                                                  | CNH/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1780.14      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CREDIT SUISSE ESCROW CL                                                     | CREDIT SUISSE ESCROW CL                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5380000 | PA      | $0.00         | 0.00%             | 2050-01-01      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| REPUBLIC OF ECUADOR                                                         | Ecuador Government International Bond                                            | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |    239403 | PA      | $184041.06    | 0.05%             | 2035-07-31      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| SHELF DRILL HOLD LTD                                                        | Shelf Drilling Holdings Ltd                                                      | CUSIP: 822538AH7<br>LEI: 54930078ZJ3XP4MRYB68 | Long             | DBT              | CORP              | KY        |    822000 | PA      | $864947.86    | 0.25%             | 2029-04-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| First Eagle Holdings Inc-f/k/a Arnhold and S. Bleicroeder Holdings Inc      | GC FERRY ACQUISITION I                                                           | CUSIP: 32009UAD9<br>LEI: 549300ZKYR56QRODD510 | Long             | LON              | CORP              | US        |    597917 | PA      | $597710.38    | 0.17%             | 2032-08-16      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust 2021-230P                                         | CUSIP: 61772WAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $979178.87    | 0.28%             | 2038-12-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| LIGHTNING POWER LLC                                                         | Lightning Power LLC                                                              | CUSIP: 53229KAA7<br>LEI: 254900BWCHJ03XRL8K59 | Long             | DBT              | CORP              | US        |    490000 | PA      | $520369.22    | 0.15%             | 2032-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| FEDERAL REP OF ETHIOPIA                                                     | Ethiopia International Bond                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ET        |    310000 | PA      | $327779.03    | 0.09%             | 2024-12-11      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Talen Energy Supply LLC                                                     | TALEN ENERGY SUPPLY LLC                                                          | CUSIP: 87422LBA7<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | LON              | CORP              | US        |    280000 | PA      | $280175.00    | 0.08%             | 2032-10-11      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                                     | Dryden 49 Senior Loan Fund                                                       | CUSIP: 26244QAU7<br>LEI: 549300VCB8LYR1RGV869 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $752882.40    | 0.22%             | 2030-07-18      | Floating      | 7.55%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                                        | Flutter Treasury DAC                                                             | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |    810000 | PA      | $820631.25    | 0.24%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                                       | MXN/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |         1 | NC      | $37559.79     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAH8<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    430000 | PA      | $413838.61    | 0.12%             | 2031-03-24      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SPENCER SPIRIT IH LLC                                                       | SPENCER SPIRIT IH LLC                                                            | CUSIP: 84823UAE2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    847917 | PA      | $848269.10    | 0.25%             | 2031-07-15      | Floating      | 8.79%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                                     | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $162949.76    | 0.05%             | 2032-11-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                              | Ginnie Mae II Pool                                                               | CUSIP: 36179W5B0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    151216 | PA      | $131037.14    | 0.04%             | 2052-05-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH OF BAHAMAS                                                     | Bahamas Government International Bond                                            | CUSIP: 056732AP5<br>LEI: 549300W13SXC7EKNJC20 | Long             | DBT              | NUSS              | BS        |    910000 | PA      | $987158.90    | 0.29%             | 2036-06-24      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                                                | AGL CLO 44 Ltd                                                                   | CUSIP: 00122AAA8<br>LEI: 254900WK97J0UDI0DQ10 | Long             | ABS-CBDO         | CORP              | KY        |    670000 | PA      | $670084.62    | 0.19%             | 2037-10-22      | Floating      | 8.70%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Trust 2021-ARIA                                                               | CUSIP: 05608RAQ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1099456.60   | 0.32%             | 2036-10-15      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| First Eagle Holdings Inc-f/k/a Arnhold and S. Bleicroeder Holdings Inc      | GC FERRY ACQUISITION I                                                           | CUSIP: 32009UAE7<br>LEI: 549300ZKYR56QRODD510 | Long             | LON              | CORP              | US        |    102083 | PA      | $102048.12    | 0.03%             | 2032-08-16      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                        | LifePoint Health Inc                                                             | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |    690000 | PA      | $745795.47    | 0.22%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                                    | Benchmark 2023-V3 Mortgage Trust                                                 | CUSIP: 08163VAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1321000 | PA      | $1180480.74   | 0.34%             | 2056-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                   | USD/JPY FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-36366.62    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                            | Connecticut Avenue Securities Trust 2025-R02                                     | CUSIP: 20754TAH5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1360000 | PA      | $1367016.24   | 0.40%             | 2045-02-25      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| TKC HOLDINGS INC                                                            | TKC Holdings Inc                                                                 | CUSIP: 87256YAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $191784.10    | 0.06%             | 2028-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust 2015-UBS8                                         | CUSIP: 61691ABQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    750000 | PA      | $716115.75    | 0.21%             | 2048-12-15      | Variable      | 4.47%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307AZ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   1260000 | PA      | $867965.38    | 0.25%             | 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        |     90000 | PA      | $94513.77     | 0.03%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| SUPER MICRO COMPUTER INC                                                    | Super Micro Computer Inc                                                         | CUSIP: 86800UAB0<br>LEI: 54930022CZO1N2UGVW07 | Long             | DBT              | CORP              | US        |    219000 | PA      | $233837.25    | 0.07%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Magnetite CLO Ltd                                                           | Magnetite XXII Ltd                                                               | CUSIP: 55954HBC5<br>LEI: 5493000081NBXWGGSW23 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $1006546.90   | 0.29%             | 2036-07-15      | Floating      | 6.80%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                                   | Sunoco LP                                                                        | CUSIP: 86765KAE9<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    875000 | PA      | $889231.88    | 0.26%             | N/A             | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                                         | Axon Enterprise Inc                                                              | CUSIP: 05464CAD3<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |    190000 | PA      | $196859.91    | 0.06%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    480000 | PA      | $438547.38    | 0.13%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SECURITIES CORP.                                                | GBP/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: RCNB6OTYUAMMP879YW96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $126748.67    | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Home Equity Asset Trust                                                     | Home Equity Asset Trust 2005-6                                                   | CUSIP: 437084NG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1190000 | PA      | $1163324.48   | 0.34%             | 2035-12-25      | Floating      | 5.05%                 | 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        |    440000 | PA      | $440195.14    | 0.13%             | 2034-10-20      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                                                     | Light & Wonder International Inc                                                 | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    440000 | PA      | $438486.40    | 0.13%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                         | CLYDESDALE ACQUISITION HOLDINGS INC                                              | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    443189 | PA      | $442721.24    | 0.13%             | 2032-04-01      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| Impac Secured Assets Corp.                                                  | Impac Secured Assets Trust 2006-3                                                | CUSIP: 45255RAZ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    931638 | PA      | $831384.05    | 0.24%             | 2036-11-25      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                                    | Brazil Notas do Tesouro Nacional Serie F                                         | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |  14652000 | PA      | $2394800.20   | 0.69%             | 2031-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                                              | MF1 2025-FL17 LLC                                                                | CUSIP: 55287HAL4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    390000 | PA      | $386392.38    | 0.11%             | 2040-02-18      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| BIG Commercial Mortgage Trust                                               | BIG Commercial Mortgage Trust 2022-BIG                                           | CUSIP: 05551UAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1000000 | PA      | $1002498.80   | 0.29%             | 2039-02-15      | Floating      | 9.47%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trus                                              | BRAVO Residential Funding Trust 2025-NQM7                                        | CUSIP: 10570TAD7<br>LEI: 254900I1LYOO3G3UAT10 | Long             | ABS-MBS          | CORP              | US        |    164304 | PA      | $165380.48    | 0.05%             | 2065-07-25      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| NEW GENERATION GAS                                                          | New Generation Gas Gathering LLC                                                 | CUSIP: 000000000<br>LEI: 9845008CB7EPB0KCD474 | Long             | DBT              | CORP              | US        |   2866216 | PA      | $2980864.89   | 0.86%             | 2029-09-30      | Floating      | 10.05%                | No            |                  3 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                   | USD/BRL FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $22022.91     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                                                    | Diversified Healthcare Trust                                                     | CUSIP: 25525PAE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    350000 | PA      | $353949.40    | 0.10%             | 2030-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER/MEDL CO                                                    | Medline Borrower LP/Medline Co-Issuer Inc                                        | CUSIP: 58506DAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    770000 | PA      | $793102.31    | 0.23%             | 2029-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Cent CLO LP                                                                 | Columbia Cent CLO 35 Ltd                                                         | CUSIP: 19739RAJ7<br>LEI: 2549006YWAD6BJI1C841 | Long             | ABS-CBDO         | CORP              | KY        |    560000 | PA      | $560487.31    | 0.16%             | 2036-07-25      | Floating      | 7.82%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                       | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |    130000 | PA      | $146783.39    | 0.04%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Dwight 2025-FL1 Issuer LLC                                                  | Dwight 2025-FL1 Issuer LLC                                                       | CUSIP: 233636AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |   1100000 | PA      | $1101945.57   | 0.32%             | 2042-06-18      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                                     | Romanian Government International Bond                                           | CUSIP: 77586RAW0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |    310000 | PA      | $340578.61    | 0.10%             | 2037-02-10      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                                                       | Nabors Industries Inc                                                            | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    810000 | PA      | $770495.81    | 0.22%             | 2031-08-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                                   | Sunoco LP                                                                        | CUSIP: 86765KAF6<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |    520000 | PA      | $520660.40    | 0.15%             | 2031-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| Lids Holdings, Inc.                                                         | Lids Holdings Inc                                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    110222 | PA      | $109670.51    | 0.03%             | 2026-12-14      | Floating      | 9.63%                 | No            |                  3 | On Loan: No      |
| VERSANT MEDIA GROUP INC                                                     | Versant Media Group Inc                                                          | CUSIP: 925283AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    320000 | PA      | $326384.69    | 0.09%             | 2031-01-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | US 5YR NOTE (CBT)                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       481 | NC      | $32616.88     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DS Parent Inc                                                               | DS PARENT INC                                                                    | CUSIP: 23344YAG7<br>LEI: 254900EH8GRZUGRWRH57 | Long             | LON              | CORP              | US        |    942047 | PA      | $873357.35    | 0.25%             | 2031-01-31      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| Bank                                                                        | BANK 2019-BNK22                                                                  | CUSIP: 06540XBG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    660000 | PA      | $623904.01    | 0.18%             | 2062-11-15      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| GATWICK AIRPORT FINANCE                                                     | Gatwick Airport Finance PLC                                                      | CUSIP: 000000000<br>LEI: 213800BDRHDHRGTQ1D63 | Long             | DBT              | CORP              | GB        |   1080000 | PA      | $1411980.69   | 0.41%             | 2026-04-07      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Cloudera Inc                                                                | Cloudera Inc                                                                     | CUSIP: 74339VAB4<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |    625286 | PA      | $602071.97    | 0.17%             | 2028-10-08      | Floating      | 7.81%                 | No            |                  2 | On Loan: No      |
| GOVERNMENT OF JAMAICA                                                       | Jamaica Government International Bond                                            | CUSIP: 470160CF7<br>LEI: 529900Y93KNSXZI8KK56 | Long             | DBT              | NUSS              | JM        | 110000000 | PA      | $727793.58    | 0.21%             | 2030-11-03      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| AKUMIN INC                                                                  | Akumin Inc                                                                       | CUSIP: 01021XAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1080000 | PA      | $1008654.14   | 0.29%             | 2027-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                         | Freddie Mac STACR REMIC Trust 2021-DNA3                                          | CUSIP: 35564KFG9<br>LEI: 5493000ISUYHCRLRBE46 | Long             | ABS-MBS          | CORP              | US        |    590000 | PA      | $661272.24    | 0.19%             | 2033-10-25      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| TKC HOLDINGS INC                                                            | TKC Holdings Inc                                                                 | CUSIP: 87256YAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    930000 | PA      | $957653.55    | 0.28%             | 2029-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| HP PHRG Borrower LLC                                                        | PHRG INTERMEDIATE LLC                                                            | CUSIP: 40445XAC0<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    359100 | PA      | $351246.48    | 0.10%             | 2032-02-20      | Floating      | 8.00%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                                        | Edison International                                                             | CUSIP: 281020AS6<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |    740000 | PA      | $733763.43    | 0.21%             | N/A             | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION                                   | USD CALL VERSUS CNY PUT                                                          | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |   5904000 | NC      | $82.75        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                                                         | Suzano Austria GmbH                                                              | CUSIP: 86964WAK8<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |    560000 | PA      | $502283.43    | 0.15%             | 2032-01-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OPERATING CO                                                     | Five Point Operating Co LP                                                       | CUSIP: 33834YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    460000 | PA      | $470469.60    | 0.14%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Co                                              | Structured Asset Securities Corp                                                 | CUSIP: 86359DEX1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1121677 | PA      | $1022964.81   | 0.30%             | 2035-04-25      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                         | NCL Corp Ltd                                                                     | CUSIP: 62886HBZ3<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    270000 | PA      | $273251.88    | 0.08%             | 2033-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Peace Park CLO, Ltd.                                                        | Peace Park CLO Ltd                                                               | CUSIP: 70470NAJ2<br>LEI: 549300XHXTUZ93V6SK42 | Long             | ABS-CBDO         | CORP              | KY        |    460000 | PA      | $457133.65    | 0.13%             | 2038-10-20      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| Popular ABS Mortgage Pass-Thro                                              | Popular ABS Mortgage Pass-Through Trust 2005-2                                   | CUSIP: 73316PCL2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1248915 | PA      | $1096475.52   | 0.32%             | 2035-04-25      | Variable      | 6.22%                 | 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        |    500000 | PA      | $504387.76    | 0.15%             | 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        |    500000 | PA      | $502371.30    | 0.15%             | 2036-07-20      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AX3<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    420000 | PA      | $436504.32    | 0.13%             | 2034-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                                     | VZ Secured Financing BV                                                          | CUSIP: 91845AAB1<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |    240000 | PA      | $244825.66    | 0.07%             | 2033-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                                              | CNH/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $504.40       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                                                     | Sasol Financing USA LLC                                                          | CUSIP: 80386WAD7<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |    270000 | PA      | $229614.62    | 0.07%             | 2031-03-18      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                                    | Occidental Petroleum Corp                                                        | CUSIP: 674599DH5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $2272162.56   | 0.66%             | 2039-06-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                | UBS Group AG                                                                     | CUSIP: 902613BF4<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    380000 | PA      | $414627.50    | 0.12%             | N/A             | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                                           | Chord Energy Corp                                                                | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    330000 | PA      | $330991.61    | 0.10%             | 2030-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                                       | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |    105659 | PA      | $92341.67     | 0.03%             | 2033-03-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| GSMPS Mortgage Loan Trust                                                   | GSMPS Mortgage Loan Trust 2006-RP1                                               | CUSIP: 3623413E7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    447985 | PA      | $401372.37    | 0.12%             | 2036-01-25      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                                      | Egypt Government International Bond                                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |    460000 | PA      | $459655.98    | 0.13%             | 2032-01-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| Starwood Property Mortgage LLC                                              | STARWOOD PROPERTY MORTGAGE LLC                                                   | CUSIP: 85570DAP7<br>LEI: 5493008SB15CNJRIOK13 | Long             | LON              | CORP              | US        |    380000 | PA      | $381425.00    | 0.11%             | 2032-09-24      | Floating      | 6.21%                 | No            |                  3 | On Loan: No      |
| CITRIX SYSTEMS INC                                                          | Citrix Systems Inc                                                               | CUSIP: 177376AE0<br>LEI: HCTKJGUQOPZ5NBK7NP58 | Long             | DBT              | CORP              | US        |    330000 | PA      | $320932.19    | 0.09%             | 2027-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ONNI Commercial Mortgage Trust                                              | ONNI Commerical Mortgage Trust 2024-APT                                          | CUSIP: 682939AG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1010000 | PA      | $1045493.02   | 0.30%             | 2039-07-15      | Variable      | 7.00%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | US 2YR NOTE (CBT)                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       259 | NC      | $22889.64     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Prime Security Services Borrower, LLC (aka Protection 1 Security Solutions) | PRIME SECURITY SERVICES BOR                                                      | CUSIP: 03765VAP5<br>LEI: 549300O6QPZVWXV2DC15 | Long             | LON              | CORP              | US        |    547331 | PA      | $547041.12    | 0.16%             | 2030-10-13      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                                              | MF1 2025-FL17 LLC                                                                | CUSIP: 55287HAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    990000 | PA      | $989997.03    | 0.29%             | 2040-02-18      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                              | Ginnie Mae II Pool                                                               | CUSIP: 36179W5D6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    151412 | PA      | $139903.68    | 0.04%             | 2052-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Natgasoline LLC                                                             | NATGASOLINE LLC                                                                  | CUSIP: 63232EAD9<br>LEI: 549300OHXDYMQYZOWC24 | Long             | LON              | CORP              | US        |    503625 | PA      | $508031.72    | 0.15%             | 2030-03-29      | Floating      | 9.50%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                                       | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAJ8<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    440000 | PA      | $443242.80    | 0.13%             | 2033-09-24      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Boost Newco Borrower LLC                                                    | BOOST NEWCO BORROWER LLC                                                         | CUSIP: 92943EAG1<br>LEI: 254900S8RE1OL7TTCU64 | Long             | LON              | CORP              | US        |    664983 | PA      | $667477.07    | 0.19%             | 2031-01-31      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| National Collegiate Student Lo                                              | National Collegiate Student Loan Trust 2007-2                                    | CUSIP: 63543LAD7<br>LEI: 635400VQIBXGEB9ZUC59 | Long             | ABS-O            | CORP              | US        |    243720 | PA      | $240895.48    | 0.07%             | 2033-01-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| KREF HOLDINGS X                                                             | KREF HOLDINGS X LLC                                                              | CUSIP: 48266YAH6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    896079 | PA      | $899999.54    | 0.26%             | 2032-03-05      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                 | Freddie Mac Gold Pool                                                            | CUSIP: 31281AX49<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1378 | PA      | $1415.80      | 0.00%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UST Global Inc                                                              | UST GLOBAL INC                                                                   | CUSIP: 90355HAB0<br>LEI: 984500398691E4511Z04 | Long             | LON              | CORP              | US        |    666737 | PA      | $665903.56    | 0.19%             | 2028-11-20      | Floating      | 7.03%                 | No            |                  3 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS CDX.NA.HY.45.V1                                                              | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $1212429.70   | 0.35%             |  |  |  | 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        |    390000 | PA      | $408976.62    | 0.12%             | 2032-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust 2023-8                                                | CUSIP: 92540DAC9<br>LEI: 213800DTJD5UKJR53O34 | Long             | ABS-MBS          | CORP              | US        |    782519 | PA      | $792414.01    | 0.23%             | 2068-12-25      | Variable      | 6.97%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                              | Gray Media Inc                                                                   | CUSIP: 389375AP1<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    370000 | PA      | $362647.55    | 0.10%             | 2033-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Avis Budget Rental Car Funding                                              | Avis Budget Rental Car Funding AESOP LLC                                         | CUSIP: 05377RKK9<br>LEI: IHXLB8SL0QWSSG2VG640 | Long             | ABS-O            | CORP              | US        |    800000 | PA      | $816504.72    | 0.24%             | 2028-10-20      | Fixed         | 7.43%                 | No            |                  2 | On Loan: No      |
| WRANGLER HOLDCO CORP                                                        | Wrangler Holdco Corp                                                             | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    830000 | PA      | $868118.58    | 0.25%             | 2032-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                                       | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     13867 | PA      | $13104.13     | 0.00%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                                                    | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |    320000 | PA      | $319864.74    | 0.09%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan                                               | New Residential Mortgage Loan Trust 2017-5                                       | CUSIP: 64828NBD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    610711 | PA      | $577168.89    | 0.17%             | 2057-06-25      | Variable      | 5.97%                 | No            |                  2 | On Loan: No      |
| Ascensus Group Holdings Inc (f/k/a Mercury Borrower Inc)                    | ASCENSUS HOLDINGS INC                                                            | CUSIP: 03836BAH2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1026185 | PA      | $1028591.10   | 0.30%             | 2028-08-02      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                                       | American Airlines Inc                                                            | CUSIP: 023771T40<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    560000 | PA      | $584587.92    | 0.17%             | 2029-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | US LONG BOND(CBT)                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        -3 | NC      | $-9005.19     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                   | USD/BRL FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $14284.00     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF NOVA SCOTIA                                                         | Bank of Nova Scotia/The                                                          | CUSIP: 0641598V1<br>LEI: L3I9ZG2KFGXZ61BMYR72 | Long             | DBT              | CORP              | CA        |    600000 | PA      | $640810.80    | 0.19%             | 2084-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MULTIFAMILY CONNECTICUT AVENUE                                              | Multifamily Connecticut Avenue Securities Trust 2020-01                          | CUSIP: 62548QAD3<br>LEI: 5493002KQF9IH3CTQZ40 | Long             | ABS-MBS          | CORP              | US        |   1117116 | PA      | $1138607.41   | 0.33%             | 2050-03-25      | Floating      | 8.05%                 | No            |                  2 | On Loan: No      |
| Harbor Freight Tools USA Inc                                                | HARBOR FREIGHT TOOLS USA INC                                                     | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |   1044028 | PA      | $1031817.66   | 0.30%             | 2031-06-11      | Floating      | 6.21%                 | No            |                  2 | On Loan: No      |
| Arctic Canadian Diamond Company Ltd                                         | ARCTIC CANADIAN DIAMONDS                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1408094 | PA      | $1403807.91   | 0.41%             | 2027-12-31      | Floating      | 10.00%                | No            |                  3 | On Loan: No      |
| ZF NA CAPITAL                                                               | ZF North America Capital Inc                                                     | CUSIP: 98877DAE5<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |    200000 | PA      | $194863.44    | 0.06%             | 2030-04-14      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                        | LIFEPOINT HEALTH INC                                                             | CUSIP: 75915TAL6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    722714 | PA      | $723335.21    | 0.21%             | 2031-05-16      | Floating      | 7.66%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                             | United States Treasury Note/Bond                                                 | CUSIP: 91282CNK3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    190000 | PA      | $191462.11    | 0.06%             | 2030-06-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LT                                              | Golub Capital Partners CLO 53B Ltd                                               | CUSIP: 38178CAE9<br>LEI: 254900DPK2EA9C8DGV68 | Long             | ABS-CBDO         | CORP              | KY        |   1000000 | PA      | $987398.60    | 0.29%             | 2034-07-20      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| Blackhawk Network Holdings Inc.                                             | BHN MERGER SUB INC                                                               | CUSIP: 09238FAM3<br>LEI: 549300LFU3K8UIR03132 | Long             | LON              | CORP              | US        |    768373 | PA      | $772395.91    | 0.22%             | 2029-03-12      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                         | Freddie Mac STACR REMIC Trust 2021-DNA6                                          | CUSIP: 35564KLU1<br>LEI: 5493000ISONLNOUKGB71 | Long             | ABS-MBS          | CORP              | US        |    860000 | PA      | $878652.88    | 0.25%             | 2041-10-25      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                                           | EURO-BUND                                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |        16 | NC      | $26534.93     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                                     | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $125857.56    | 0.04%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Catawba Nation Gaming Authority                                             | CATAWBA NATION GAMING AUTHORITY                                                  | CUSIP: 14907EAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    710000 | PA      | $726642.40    | 0.21%             | 2032-03-28      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                              | Ginnie Mae II Pool                                                               | CUSIP: 3622ACKB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     79041 | PA      | $80357.72     | 0.02%             | 2053-05-20      | 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        |    580000 | PA      | $580580.00    | 0.17%             | 2038-10-18      | Floating      | 0.01%                 | No            |                  3 | On Loan: No      |
| Diamond Sports Net, LLC                                                     | DIAMOND SPORTS NET LLC                                                           | CUSIP: 25277EAB8<br>LEI: 549300MPO5H6LGX4RJ82 | Long             | LON              | CORP              | US        |    630480 | PA      | $482317.03    | 0.14%             | 2028-01-02      | Fixed         | 15.00%                | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Trust 2021-LBA                                                                | CUSIP: 05609BAK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    970000 | PA      | $970493.54    | 0.28%             | 2036-02-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                                                            | CSC Holdings LLC                                                                 | CUSIP: 126307BN6<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    720000 | PA      | $569221.56    | 0.16%             | 2029-01-31      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    300000 | PA      | $294750.23    | 0.09%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                                             | Gen Digital Inc                                                                  | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |    200000 | PA      | $206388.60    | 0.06%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                                       | Qnity Electronics Inc                                                            | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    420000 | PA      | $427930.86    | 0.12%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                                                  | USD/CNH FORWARD                                                                  | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-2635.23     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AU9<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    970000 | PA      | $1017089.62   | 0.29%             | 2031-06-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| HarborView Mortgage Loan Trust                                              | HarborView Mortgage Loan Trust 2005-9                                            | CUSIP: 41161PSM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1371296 | PA      | $1312923.72   | 0.38%             | 2035-06-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| US TREASURY N/B                                                             | United States Treasury Note/Bond                                                 | CUSIP: 91282CNN7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2090000 | PA      | $2105919.93   | 0.61%             | 2030-07-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                                    | Occidental Petroleum Corp                                                        | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    445000 | PA      | $472791.14    | 0.14%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Co                                              | Structured Asset Securities Corp Mortgage Loan Trust 2006-ARS1                   | CUSIP: 86358LAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   3089258 | PA      | $56149.12     | 0.02%             | 2036-02-25      | Floating      | 4.33%                 | No            |                  2 | On Loan: No      |
| Peer Holding III BV                                                         | PEER HOLDING III BV                                                              | CUSIP: 000000000<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | NL        |    666659 | PA      | $670305.69    | 0.19%             | 2030-10-26      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| B3 SA-BRASIL BOLSA BALCA                                                    | B3 SA - Brasil Bolsa Balcao                                                      | CUSIP: 11778EAA4<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | DBT              | CORP              | BR        |    480000 | PA      | $451332.00    | 0.13%             | 2031-09-20      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                              | Ginnie Mae                                                                       | CUSIP: 21H0306B5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    100000 | PA      | $89875.00     | 0.03%             | 2055-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                              | Ginnie Mae                                                                       | CUSIP: 21H0306B5<br>LEI: 549300M8ZYFG0OCMTT87 | Short            | ABS-MBS          | USGA              | US        |   -100000 | PA      | $-89875.00    | -0.03%            | 2055-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                                                     | Dream Finders Homes Inc                                                          | CUSIP: 26154DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    520000 | PA      | $517896.60    | 0.15%             | 2030-09-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | US 10YR NOTE (CBT)                                                               | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        78 | NC      | $48705.95     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOCK INC                                                                   | Block Inc                                                                        | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    710000 | PA      | $726479.81    | 0.21%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                              | Gray Media Inc                                                                   | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    390000 | PA      | $392383.39    | 0.11%             | 2032-07-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - SCRT                                                          | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2018-2                    | CUSIP: 35563PFX2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   3695570 | PA      | $1515848.92   | 0.44%             | 2057-11-25      | Variable      | 1.78%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                                       | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAH2<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |    290000 | PA      | $305451.78    | 0.09%             | 2032-04-17      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| FIRST QUANTUM MINERALS L                                                    | First Quantum Minerals Ltd                                                       | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |    780000 | PA      | $829945.74    | 0.24%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ocean Trails CLO                                                            | Ocean Trails Clo X                                                               | CUSIP: 67516BAE1<br>LEI: 635400RMMLHBGDGXBC03 | Long             | ABS-CBDO         | CORP              | KY        |    750000 | PA      | $755250.75    | 0.22%             | 2034-10-15      | Floating      | 11.74%                | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Cer                                              | WaMu Mortgage Pass-Through Certificates Series 2005-AR19 Trust                   | CUSIP: 92925CBA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19364 | PA      | $19862.96     | 0.01%             | 2045-12-25      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Dayforce Inc                                                                | DAYFORCE INC                                                                     | CUSIP: 23923YAB7<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |    900000 | PA      | $898069.50    | 0.26%             | 2032-10-07      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust 2023-4                                                | CUSIP: 92539TAE3<br>LEI: 2138008DC17PCNG48R87 | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1054555.64   | 0.30%             | 2068-05-25      | Variable      | 8.06%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                                       | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     50339 | PA      | $48451.06     | 0.01%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                                              | USD/CAD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $717.27       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TCI-Symphony CLO                                                            | TCI-Symphony CLO 2016-1 Ltd                                                      | CUSIP: 87229WAW1<br>LEI: 5493005WLG3H3B8NI222 | Long             | ABS-CBDO         | CORP              | KY        |    480000 | PA      | $481951.34    | 0.14%             | 2032-10-13      | Floating      | 7.27%                 | 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        |   4286312 | NS      | $4286312.37   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage A                                              | Government National Mortgage Association                                         | CUSIP: 38378BRQ4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    465014 | PA      | $4.65         | 0.00%             | 2052-04-16      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF MOZAMBIQUE                                                      | Mozambique International Bond                                                    | CUSIP: 000000000<br>LEI: 213800759WLKYIKPER73 | Long             | DBT              | NUSS              | MZ        |    210000 | PA      | $182481.18    | 0.05%             | 2031-09-15      | Variable      | 9.00%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                                       | Qnity Electronics Inc                                                            | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |    350000 | PA      | $359873.15    | 0.10%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                                    | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAD8<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    830000 | PA      | $815290.57    | 0.24%             | 2029-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SPIRIT AVIA HOL RESTRICT                                                    | SPIRIT AVIA HOL RESTRICT                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |       603 | NS      | $217.08       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| (Sunnova) Aurora I Issuer, LLC                                              | SUNNOVA HELIOS II ISSUER LLC 2019-A                                              | CUSIP: 86745LAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1492578 | PA      | $1259005.68   | 0.36%             | 2046-06-20      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                                          | Angolan Government International Bond                                            | CUSIP: 035198AF7<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |    570000 | PA      | $535757.22    | 0.15%             | 2032-04-14      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                           | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    160000 | PA      | $168810.88    | 0.05%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                                              | USD/INR FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-3737.74     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SGUS LLC                                                                    | SGUS LLC                                                                         | CUSIP: 81880AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270755 | PA      | $234882.67    | 0.07%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| VOLTAGRID LLC                                                               | VoltaGrid LLC                                                                    | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |    340000 | PA      | $346010.14    | 0.10%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Renew Financial                                                             | Renew 2024-1                                                                     | CUSIP: 75973VAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    864222 | PA      | $872265.70    | 0.25%             | 2059-11-20      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                                          | META PLATFORMS INC                                                               | CUSIP: 30303M8X3<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |   1050000 | PA      | $1041651.01   | 0.30%             | 2045-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Greystone Commercial Real Esta                                              | Greystone CRE Notes 2025 HC-4 LLC                                                | CUSIP: 39809NAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    900000 | PA      | $898693.02    | 0.26%             | 2042-10-15      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                                     | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |  68720000 | PA      | $3489328.73   | 1.01%             | 2034-11-23      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Nomura Resecuritization Trust                                               | Nomura Resecuritization Trust 2015-8R                                            | CUSIP: 65541AAP1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1052977 | PA      | $977133.58    | 0.28%             | 2047-11-25      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                                 | Ivory Coast Government International Bond                                        | CUSIP: 221625AT3<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |    310000 | PA      | $327941.30    | 0.09%             | 2033-01-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                    | Angel Oak Mortgage Trust 2022-3                                                  | CUSIP: 03464TAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    965106 | PA      | $906607.91    | 0.26%             | 2067-01-25      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                                    | Permian Resources Operating LLC                                                  | CUSIP: 71424VAB6<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    710000 | PA      | $723107.31    | 0.21%             | 2033-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                   | USD/EUR FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $3995.69      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                               | Citigroup Inc                                                                    | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    540000 | PA      | $539673.73    | 0.16%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                                                | MH SUB I LLC                                                                     | CUSIP: 45567YAN5<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |    739060 | PA      | $674026.35    | 0.19%             | 2028-05-03      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| VORTEX OPCO LLC                                                             | Vortex Opco LLC                                                                  | CUSIP: 92905YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1616406 | PA      | $165681.62    | 0.05%             | 2030-04-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WB Commercial Mortgage Trust                                                | WB Commercial Mortgage Trust 2024-HQ                                             | CUSIP: 92943PAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    650000 | PA      | $652718.04    | 0.19%             | 2040-03-15      | Variable      | 8.01%                 | No            |                  2 | On Loan: No      |
| VERMILION ENERGY INC                                                        | Vermilion Energy Inc                                                             | CUSIP: 923725AE5<br>LEI: 8945009D1HGCJC8M8A68 | Long             | DBT              | CORP              | CA        |    430000 | PA      | $397502.19    | 0.11%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                                    | Madison Park Funding XXIV Ltd                                                    | CUSIP: 55820NBC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1510000 | PA      | $1517223.54   | 0.44%             | 2029-10-20      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                                          | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    329149 | PA      | $185542.63    | 0.05%             | 2034-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Hartwick Park CLO, Ltd.                                                     | Hartwick Park CLO Ltd                                                            | CUSIP: 417402AE4<br>LEI: 2549003E1ZAWJG55NM75 | Long             | ABS-CBDO         | CORP              | JE        |    270000 | PA      | $267654.38    | 0.08%             | 2037-01-20      | Floating      | 8.73%                 | 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        |    320000 | PA      | $320836.80    | 0.09%             | 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: 00033YAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |   1090000 | PA      | $1118762.48   | 0.32%             | 2029-08-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                                            | 3 MONTH SOFR                                                                     | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |       -30 | NC      | $-1938.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| EOC Borrower LLC                                                            | ENDEAVOR OPERATING CO LLC                                                        | CUSIP: 26875YAB8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    668325 | PA      | $672642.38    | 0.19%             | 2032-03-24      | Floating      | 6.96%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                                               | FirstCash Inc                                                                    | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |    350000 | PA      | $351721.30    | 0.10%             | 2030-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF JORDAN                                                           | Jordan Government International Bond                                             | CUSIP: 41809JAA3<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |    270000 | PA      | $283983.16    | 0.08%             | 2028-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                          | Viking Cruises Ltd                                                               | CUSIP: 92676XAH0<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    630000 | PA      | $640830.71    | 0.19%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Asurion LLC                                                                 | Asurion LLC                                                                      | CUSIP: 04649VAY6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |    765979 | PA      | $767059.31    | 0.22%             | 2027-07-30      | Floating      | 7.43%                 | No            |                  2 | On Loan: No      |
| HIH Trust                                                                   | HIH Trust 2024-61P                                                               | CUSIP: 40444VAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    995106 | PA      | $1004865.73   | 0.29%             | 2041-10-15      | Floating      | 9.47%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                | UBS Group AG                                                                     | CUSIP: 902613BK3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   1040000 | PA      | $1108152.24   | 0.32%             | N/A             | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                                           | Republic of Kenya Government International Bond                                  | CUSIP: 491798AM6<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |    340000 | PA      | $366548.78    | 0.11%             | 2031-02-16      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Versant Media Group Inc                                                     | VERSANT MEDIA GROUP INC                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    520000 | PA      | $518918.40    | 0.15%             | 2030-10-23      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                               | CoreWeave Inc                                                                    | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    740000 | PA      | $743089.50    | 0.21%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                                   | BRL/USD FORWARD                                                                  | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-21719.73    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                                    | Permian Resources Operating LLC                                                  | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |    860000 | PA      | $892906.18    | 0.26%             | 2032-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                              | Palmer Square Loan Funding 2024-3 Ltd                                            | CUSIP: 69690EAG4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1100000 | PA      | $1106159.56   | 0.32%             | 2032-08-08      | Floating      | 7.18%                 | 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        |    690000 | PA      | $690551.93    | 0.20%             | 2034-11-22      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                                                    | iHeartCommunications Inc                                                         | CUSIP: 45174HBJ5<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |    285000 | PA      | $262570.50    | 0.08%             | 2029-05-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| SEDGWICK CMS INC                                                            | SEDGWICK CLAIMS MANAGEMENT SERVICES INC                                          | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |    910730 | PA      | $911554.35    | 0.26%             | 2031-07-31      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                                     | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    670000 | PA      | $690974.35    | 0.20%             | 2034-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| 280 Park Avenue Mortgage Trust                                              | 280 Park Avenue 2017-280P Mortgage Trust                                         | CUSIP: 90205FAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1081598.65   | 0.31%             | 2034-09-15      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| MASTR Asset Backed Securities                                               | Mastr Asset Backed Securities Trust 2007-HE2                                     | CUSIP: 57646LAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1422510 | PA      | $1254284.96   | 0.36%             | 2037-08-25      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                                      | EquipmentShare.com Inc                                                           | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    430000 | PA      | $433779.70    | 0.13%             | 2028-05-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH                                                          | Cerdia Finanz GmbH                                                               | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |    240000 | PA      | $251235.26    | 0.07%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS NABORS INDUSTRIES INC                                                        | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-25187.38    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Triton Water Holdings Inc                                                   | PRIMO BRANDS CORP                                                                | CUSIP: 89678QAD8<br>LEI: 254900J0WS4AXV2LAX55 | Long             | LON              | CORP              | US        |    975910 | PA      | $979594.15    | 0.28%             | 2028-03-31      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| LifePoint Health Inc                                                        | LIFEPOINT HEALTH INC                                                             | CUSIP: 75915TAK8<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | LON              | CORP              | US        |    787819 | PA      | $789331.17    | 0.23%             | 2031-05-16      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| Mountain View CLO Ltd                                                       | Mountain View CLO IX Ltd                                                         | CUSIP: 62432BAU7<br>LEI: 549300URXZ1TS31FK720 | Long             | ABS-CBDO         | CORP              | KY        |    580000 | PA      | $582204.17    | 0.17%             | 2031-07-15      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| ALLEN MEDIA LLC/CO-ISSR                                                     | Allen Media LLC / Allen Media Co-Issuer Inc                                      | CUSIP: 01771YAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1860000 | PA      | $827700.00    | 0.24%             | 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        |    200000 | PA      | $204764.50    | 0.06%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Leia Finco US LLC                                                           | LEIA FINCO US LLC                                                                | CUSIP: 52526CAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    855743 | PA      | $858686.66    | 0.25%             | 2031-10-09      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| National Collegiate Student Lo                                              | National Collegiate Student Loan Trust 2005-3                                    | CUSIP: 63543TAJ7<br>LEI: 635400WAVVCUCCIGH375 | Long             | ABS-O            | CORP              | US        |   1234725 | PA      | $1010055.97   | 0.29%             | 2037-07-27      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                                                      | Millicom International Cellular SA                                               | CUSIP: 600814AQ0<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    333000 | PA      | $336181.82    | 0.10%             | 2029-03-25      | Fixed         | 6.25%                 | 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       |    290000 | PA      | $290930.32    | 0.08%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                                           | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |    280000 | PA      | $286164.20    | 0.08%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| EUREX CLEARING AKTIENGESELLSCHAFT                                           | EURO-BOBL                                                                        | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              | CORP              | DE        |       -10 | NC      | $-5316.02     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS AMERICAN AIRLINES GROUP INC                                                  | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $9402.76      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                                 | OCP CLO 2023-26 Ltd                                                              | CUSIP: 67351PAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    990000 | PA      | $973539.07    | 0.28%             | 2037-04-17      | Floating      | 8.33%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                                             | NEXUS BUYER LLC                                                                  | CUSIP: 65343UAJ1<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |    250000 | PA      | $250843.75    | 0.07%             | 2031-07-31      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| PUMA INTERNATIONAL FINAN                                                    | Puma International Financing SA                                                  | CUSIP: 74588YAB6<br>LEI: 222100YFBPO7IDRUBR17 | Long             | DBT              | CORP              | LU        |    530000 | PA      | $548940.36    | 0.16%             | 2029-04-25      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                           | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |    280000 | PA      | $293254.92    | 0.08%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                                      | EquipmentShare.com Inc                                                           | CUSIP: 29450YAB5<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |    710000 | PA      | $717406.01    | 0.21%             | 2032-05-15      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| SMRT                                                                        | SMRT 2022-MINI                                                                   | CUSIP: 78457JAL6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    850000 | PA      | $846842.68    | 0.24%             | 2039-01-15      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                              | Ginnie Mae II Pool                                                               | CUSIP: 36179TXV2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     80996 | PA      | $78160.14     | 0.02%             | 2048-05-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                                   | Towd Point Mortgage Trust                                                        | CUSIP: 89171DAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1230000 | PA      | $1192419.81   | 0.34%             | 2053-10-25      | Variable      | 4.57%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                                       | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     71344 | PA      | $55288.90     | 0.02%             | 2035-06-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                               | Carnival Corp                                                                    | CUSIP: 143658CB6<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    540000 | PA      | $547013.35    | 0.16%             | 2029-05-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| AUSTRALIAN SECURITIES EXCHANGE TRADE24                                      | AUST 10Y BOND                                                                    | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              | CORP              | AU        |        50 | NC      | $-11513.72    | -0.00%            |  |  |  | No            |                  1 | 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        |   1074694 | PA      | $572274.31    | 0.17%             | 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        |    690000 | PA      | $743052.72    | 0.21%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                          | Viking Cruises Ltd                                                               | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    560000 | PA      | $563517.26    | 0.16%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AmWINS Group Inc                                                            | AMWINS GROUP INC                                                                 | CUSIP: 03234TBA5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |    994987 | PA      | $997405.28    | 0.29%             | 2032-01-30      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                                    | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05971PAB4<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |    520000 | PA      | $533865.80    | 0.15%             | N/A             | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GALAXY PIPELINE ASSETS                                                      | Galaxy Pipeline Assets Bidco Ltd                                                 | CUSIP: 000000000<br>LEI: 549300L82YB0C6JQIC26 | Long             | DBT              | CORP              | JE        |     63863 | PA      | $62280.61     | 0.02%             | 2027-09-30      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| FULL HOUSE RESORTS INC                                                      | Full House Resorts Inc                                                           | CUSIP: 359678AC3<br>LEI: 5493009DKIWW0H901Y82 | Long             | DBT              | CORP              | US        |   1860000 | PA      | $1652852.41   | 0.48%             | 2028-02-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                                                     | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    260000 | PA      | $268762.88    | 0.08%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| American Money Management Corp                                              | AMMC CLO 30 Ltd                                                                  | CUSIP: 03165UAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    980000 | PA      | $987195.26    | 0.29%             | 2037-01-15      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                                                    | Eagle Funding Luxco Sarl                                                         | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |    510000 | PA      | $518746.50    | 0.15%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE INC.                                            | IRS MXN                                                                          | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |         1 | NC      | $269336.74    | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                              | Rocket Cos Inc                                                                   | CUSIP: 77311WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    540000 | PA      | $557362.62    | 0.16%             | 2030-08-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| SMRT                                                                        | SMRT 2022-MINI                                                                   | CUSIP: 78457JAQ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1030000 | PA      | $1007236.28   | 0.29%             | 2039-01-15      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA FINANCE PLC                                                    | Virgin Media Finance PLC                                                         | CUSIP: 92769VAJ8<br>LEI: 2138001LVYC87DDHT482 | Long             | DBT              | CORP              | GB        |    440000 | PA      | $393210.05    | 0.11%             | 2030-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                                     | Millrose Properties Inc                                                          | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $211190.70    | 0.06%             | 2032-09-15      | Fixed         | 6.25%                 | 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        |    945000 | PA      | $909963.75    | 0.26%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                                          | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    540586 | PA      | $298120.92    | 0.09%             | 2036-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| MILLICOM INTL CELLULAR                                                      | Millicom International Cellular SA                                               | CUSIP: 600814AR8<br>LEI: 549300CTHC1CP86P2G96 | Long             | DBT              | CORP              | LU        |    482000 | PA      | $450669.76    | 0.13%             | 2031-04-27      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UFC Holdings LLC (Zuffa)/TKO Group                                          | UFC HOLDINGS LLC                                                                 | CUSIP: 90266UAL7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    199500 | PA      | $200171.32    | 0.06%             | 2031-11-21      | Floating      | 6.04%                 | No            |                  2 | On Loan: No      |
| Gainwell Acquisition Corp                                                   | Gainwell Acquisition Corp                                                        | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    935091 | PA      | $928078.19    | 0.27%             | 2027-10-01      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                           | NatWest Group PLC                                                                | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |   1150000 | PA      | $1464454.14   | 0.42%             | N/A             | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION                                   | IRS BRL                                                                          | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-54467.18    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SENEGAL                                                         | Senegal Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |    300000 | PA      | $215973.70    | 0.06%             | 2033-05-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UNITED MEXICAN STATES                                                       | Mexico Government International Bond                                             | CUSIP: 91087BAZ3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    820000 | PA      | $841361.00    | 0.24%             | 2036-05-07      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| X.Ai Corp.                                                                  | XAI CORP                                                                         | CUSIP: 98402XAC9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1386525 | PA      | $1353712.89   | 0.39%             | 2030-06-28      | Floating      | 11.12%                | No            |                  2 | On Loan: No      |
| Impac CMB Trust                                                             | Impac CMB Trust Series 2005-5                                                    | CUSIP: 45254NPU5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     36902 | PA      | $35176.69     | 0.01%             | 2035-08-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Red Planet Borrower LLC                                                     | RED PLANET BORROWER LLC                                                          | CUSIP: 57165KAE6<br>LEI: 254900LGTHBRY5NA0C90 | Long             | LON              | CORP              | US        |   1600000 | PA      | $1578664.00   | 0.46%             | 2032-09-08      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Inc                                                  | Morgan Stanley ABS Capital I Inc Trust 2004-NC4                                  | CUSIP: 61744CCH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1359975 | PA      | $1391856.99   | 0.40%             | 2034-04-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                                                        | Range Resources Corp                                                             | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    430000 | PA      | $421070.96    | 0.12%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                                      | RR 18 Ltd                                                                        | CUSIP: 749737AJ1<br>LEI: 54930003V8ISBLDELD80 | Long             | ABS-CBDO         | CORP              | KY        |    720000 | PA      | $723547.08    | 0.21%             | 2040-07-15      | Floating      | 8.80%                 | No            |                  2 | On Loan: No      |
| Cotiviti Inc                                                                | COTIVITI INC                                                                     | CUSIP: 22164MAF4<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    259350 | PA      | $250191.05    | 0.07%             | 2032-03-26      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                                     | Millrose Properties Inc                                                          | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    710000 | PA      | $719862.33    | 0.21%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION                                   | TRS JPEIFNTR INDEX                                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               | CORP              | US        |         1 | NC      | $225455.87    | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                                                    | Stonex Escrow Issuer LLC                                                         | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    340000 | PA      | $352074.76    | 0.10%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Sotera Health Holdings LLC                                                  | SOTERA HEALTH HLDGS LLC                                                          | CUSIP: 83600VAH4<br>LEI: 549300OVT7MBXFLOFU20 | Long             | LON              | CORP              | US        |    750694 | PA      | $754447.95    | 0.22%             | 2031-05-30      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Option One Mortgage Loan Trust                                              | Option One Mortgage Loan Trust 2005-3                                            | CUSIP: 68389FHV9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $925848.11    | 0.27%             | 2035-08-25      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                                              | MF1 2024-FL16                                                                    | CUSIP: 55287EAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    975000 | PA      | $977426.19    | 0.28%             | 2039-11-18      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBJ8<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   1710000 | PA      | $1552013.10   | 0.45%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                         | Freddie Mac STACR REMIC Trust 2022-DNA2                                          | CUSIP: 35564KSJ9<br>LEI: 5493000ISA3AUOXQEF68 | Long             | ABS-MBS          | CORP              | US        |   1220000 | PA      | $1273934.98   | 0.37%             | 2042-02-25      | Floating      | 8.93%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                                     | Dryden 113 CLO Ltd                                                               | CUSIP: 26253EBR8<br>LEI: 254900XN9Y85HJGYJ219 | Long             | ABS-CBDO         | CORP              | JE        |    600000 | PA      | $604039.92    | 0.17%             | 2037-10-15      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| American Money Management Corp                                              | AMMC CLO 27 Ltd                                                                  | CUSIP: 00173UBA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    490000 | PA      | $492301.87    | 0.14%             | 2037-01-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                              | NRG Energy Inc                                                                   | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    310000 | PA      | $312390.24    | 0.09%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Blueberry Park CLO                                                          | Blueberry Park CLO Ltd                                                           | CUSIP: 09609QAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |   1430000 | PA      | $1436412.55   | 0.42%             | 2037-10-20      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION                                   | IRS BRL                                                                          | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-641904.99   | -0.19%            |  |  |  | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                                          | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    335938 | PA      | $140604.20    | 0.04%             | 2034-02-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| WW International Inc                                                        | WW International Inc                                                             | CUSIP: 98262P200<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | EC               | CORP              | US        |     11809 | NS      | $411189.38    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Project Alpha Intermediate Holding Inc                                      | PROJECT ALPHA INTERMEDIATE HOLDING INC                                           | CUSIP: 74339DAN8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    980149 | PA      | $981546.20    | 0.28%             | 2030-10-28      | Floating      | 7.25%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                                    | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AR7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     18000 | PA      | $18921.80     | 0.01%             | 2031-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                                    | OCP SA                                                                           | CUSIP: 67091TAF2<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |    470000 | PA      | $510972.03    | 0.15%             | 2034-05-02      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Peer Holding III BV                                                         | PEER USA LLC                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    210000 | PA      | $210393.75    | 0.06%             | 2032-09-29      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                                     | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153BV3<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |    360000 | PA      | $369703.53    | 0.11%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| US RENAL CARE INC                                                           | US Renal Care Inc                                                                | CUSIP: 90355YAA5<br>LEI: 54930058SS5MF69JGN89 | Long             | DBT              | CORP              | US        |    602000 | PA      | $526750.00    | 0.15%             | 2028-06-28      | Fixed         | 10.62%                | No            |                  2 | On Loan: No      |
| TEVA PHARM FIN CO LLC                                                       | Teva Pharmaceutical Finance Co LLC                                               | CUSIP: 88163VAD1<br>LEI: 5493006PITD7MU7WW480 | Long             | DBT              | CORP              | US        |    330000 | PA      | $346224.12    | 0.10%             | 2036-02-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                                    | Lloyds Banking Group PLC                                                         | CUSIP: 000000000<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |    930000 | PA      | $1298130.36   | 0.38%             | N/A             | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA, NATIONAL ASSOCIATION                                       | IRS BRL                                                                          | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              | CORP              | US        |         1 | NC      | $-384572.30   | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                                               | Citigroup Commercial Mortgage Trust 2023-SMRT                                    | CUSIP: 17291NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    950000 | PA      | $978405.95    | 0.28%             | 2040-10-12      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| PM GENERAL PURCHASER LLC                                                    | PM General Purchaser LLC                                                         | CUSIP: 69356MAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2590000 | PA      | $2253010.83   | 0.65%             | 2028-10-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                  | Fannie Mae Pool                                                                  | CUSIP: 3140AUDG5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    196089 | PA      | $195737.98    | 0.06%             | 2054-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIDE 2025-SHRE                                                              | RIDE 2025-SHRE                                                                   | CUSIP: 765692AG3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1140000 | PA      | $1170428.20   | 0.34%             | 2047-02-14      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                              | NRG Energy Inc                                                                   | CUSIP: 629377DD1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |   1550000 | PA      | $1577679.53   | 0.46%             | 2036-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VFH PARENT / VALOR CO                                                       | VFH Parent LLC / Valor Co-Issuer Inc                                             | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    270000 | PA      | $282800.43    | 0.08%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PETROBRAS GLOBAL FINANCE                                                    | Petrobras Global Finance BV                                                      | CUSIP: 71647NAN9<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    690000 | PA      | $665815.85    | 0.19%             | 2115-06-05      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| WW International Inc                                                        | WW INTERNATIONAL INC                                                             | CUSIP: 92941PAE3<br>LEI: SGT8R1MU6ESIC7UJC518 | Long             | LON              | CORP              | US        |    903472 | PA      | $806728.12    | 0.23%             | 2030-06-25      | Floating      | 10.80%                | No            |                  2 | On Loan: No      |
| GETTY IMAGES INC                                                            | Getty Images Inc                                                                 | CUSIP: 374276AR4<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    280000 | PA      | $282575.95    | 0.08%             | 2030-11-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| TALEN ENERGY SUPPLY LLC                                                     | Talen Energy Supply LLC                                                          | CUSIP: 87422VAN8<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |    560000 | PA      | $580343.82    | 0.17%             | 2036-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                                         | NCL Corp Ltd                                                                     | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |    470000 | PA      | $470071.25    | 0.14%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                           | CLARIOS GLOBAL LP                                                                | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |    310000 | PA      | $311356.25    | 0.09%             | 2032-01-28      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| RAILWORKS HOLDINGS LP/R                                                     | Railworks Holdings LP / Railworks Rally Inc                                      | CUSIP: 75079MAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    610000 | PA      | $613287.66    | 0.18%             | 2028-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Modena Buyer LLC                                                            | MODENA BUYER LLC                                                                 | CUSIP: 60753DAC8<br>LEI: 254900B0G2IU0VBDOY26 | Long             | LON              | CORP              | US        |    882653 | PA      | $864558.46    | 0.25%             | 2031-07-01      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| MCCLATCHY MEDIA CO LLC                                                      | Mcclatchy Media Co LLC                                                           | CUSIP: 00456LAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7836390 | PA      | $8806143.00   | 2.55%             | 2031-12-01      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Corp II                                                   | CUSIP: 36269JAL2<br>LEI: 5493005BBCF84ICNQ550 | Long             | ABS-MBS          | CORP              | US        |    845000 | PA      | $881507.72    | 0.25%             | 2041-03-10      | Variable      | 8.96%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                                    | Univision Communications Inc                                                     | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    290000 | PA      | $306423.49    | 0.09%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| UKRAINE GOVERNMENT                                                          | Ukraine Government International Bond                                            | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |    283891 | PA      | $145758.82    | 0.04%             | 2035-02-01      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| NOBLE FINANCE II LLC                                                        | Noble Finance II LLC                                                             | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    440000 | PA      | $456961.12    | 0.13%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| DCert Buyer Inc                                                             | Dcert Buyer Inc                                                                  | CUSIP: 24022KAJ8<br>LEI: 549300EF826JEEUCHZ67 | Long             | LON              | CORP              | US        |    520043 | PA      | $470748.23    | 0.14%             | 2029-02-19      | Floating      | 10.96%                | No            |                  2 | On Loan: No      |
| Greystone Commercial Real Esta                                              | Greystone CRE Notes 2024-HC3                                                     | CUSIP: 39808MAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    930000 | PA      | $927036.65    | 0.27%             | 2041-03-15      | Floating      | 9.36%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortga                                              | MF1 2025-FL17 LLC                                                                | CUSIP: 55287HAJ9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    460000 | PA      | $457994.49    | 0.13%             | 2040-02-18      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                                                     | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    190000 | PA      | $227037.72    | 0.07%             | 2033-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust                                              | MSWF Commercial Mortgage Trust 2023-1                                            | CUSIP: 55376CAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    820000 | PA      | $855097.07    | 0.25%             | 2056-05-15      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| Multifamily Trust                                                           | Multifamily Trust 2016-1                                                         | CUSIP: 62547L103<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    318540 | PA      | $318137.43    | 0.09%             | 2046-04-25      | Variable      | 11.58%                | No            |                  2 | On Loan: No      |
| CARRIAGE PURCHASER INC                                                      | Carriage Purchaser Inc                                                           | CUSIP: 14445LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1171000 | PA      | $1096807.31   | 0.32%             | 2029-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                              | Palmer Square Loan Funding 2022-3 Ltd                                            | CUSIP: 69690CAU7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1360000 | PA      | $1368929.49   | 0.40%             | 2031-04-15      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL                                                      | Brazil Letras do Tesouro Nacional                                                | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   5354000 | PA      | $972829.39    | 0.28%             | 2026-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MERCADOLIBRE INC                                                            | MercadoLibre Inc                                                                 | CUSIP: 58733RAF9<br>LEI: 549300DKPDN9M5S8GB14 | Long             | DBT              | CORP              | US        |    400000 | PA      | $369011.20    | 0.11%             | 2031-01-14      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| Wellesley Park CLO Ltd                                                      | Wellesley Park CLO Ltd                                                           | CUSIP: 94949BAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    340000 | PA      | $340850.00    | 0.10%             | 2039-01-24      | Floating      | 8.45%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Tru                                              | SMB Private Education Loan Trust 2015-C                                          | CUSIP: 78448R106<br>LEI: 549300GD7VLLBVPDNJ81 | Long             | ABS-O            | CORP              | US        |      1092 | PA      | $192533.25    | 0.06%             | 2046-09-18      | Fixed         | 0.00%                 | No            |                  2 | On Loan: No      |
| CFC Bidco 2022 Limited                                                      | CFC USA 2025 LLC                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    890000 | PA      | $872200.00    | 0.25%             | 2032-07-01      | Floating      | 7.74%                 | No            |                  3 | On Loan: No      |
| NORTHERN OIL & GAS INC                                                      | Northern Oil & Gas Inc                                                           | CUSIP: 665531AL3<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |    530000 | PA      | $516671.88    | 0.15%             | 2033-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Jane Street Group LLC                                                       | JANE STREET GROUP LLC                                                            | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |    994778 | PA      | $986755.17    | 0.29%             | 2031-12-15      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                                    | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $236419.26    | 0.07%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| LTR Intermediate Holdings Inc                                               | LTR Intermediate Holdings Inc                                                    | CUSIP: 50219UAB1<br>LEI: 549300J0IFHJE2TQGX07 | Long             | LON              | CORP              | US        |    968000 | PA      | $971228.64    | 0.28%             | 2028-05-05      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                                     | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    150000 | PA      | $148970.78    | 0.04%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Trust 2024-CNYN                                                               | CUSIP: 05612HAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    980479 | PA      | $985477.14    | 0.28%             | 2041-04-15      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Commercial Mortgage Trust 2019-IMC                                            | CUSIP: 05608BAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1050000 | PA      | $1023584.21   | 0.30%             | 2034-04-15      | Floating      | 6.98%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE BUENOS AIRE                                                    | Provincia de Buenos Aires/Government Bonds                                       | CUSIP: 000000000<br>LEI: 549300L6AYROPOTQ4L07 | Long             | DBT              | NUSS              | AR        |    453571 | PA      | $333941.75    | 0.10%             | 2037-09-01      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                               | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |   1576050 | PA      | $1736183.71   | 0.50%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| TURK TELEKOMUNIKASYON AS                                                    | Turk Telekomunikasyon AS                                                         | CUSIP: 90011QAD2<br>LEI: 789000A2TXOI10JZLF90 | Long             | DBT              | CORP              | TR        |    630000 | PA      | $652671.74    | 0.19%             | 2029-05-20      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Celsius Holdings, Inc.                                                      | CELSIUS HOLDINGS INC                                                             | CUSIP: 15118XAD6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    661111 | PA      | $665448.00    | 0.19%             | 2032-04-01      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| ICE FUTURES EUROPE                                                          | LONG GILT                                                                        | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              | CORP              | GB        |        15 | NC      | $63424.52     | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Knight Health Holdings LLC                                                  | Knight Health Holdings LLC                                                       | CUSIP: 49902TAB8<br>LEI: 2549008OACTDEJGJC870 | Long             | LON              | CORP              | US        |    625975 | PA      | $207091.32    | 0.06%             | 2028-12-23      | Floating      | 9.33%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                               | Carnival Corp                                                                    | CUSIP: 143658BX9<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    500000 | PA      | $515932.42    | 0.15%             | 2033-02-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                                     | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |    820000 | PA      | $802808.70    | 0.23%             | 2034-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                                  | X CORP                                                                           | CUSIP: 90184NAG3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    403867 | PA      | $394275.59    | 0.11%             | 2029-10-26      | Floating      | 10.45%                | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US                                               | Goldentree Loan Management US Clo 6 Ltd                                          | CUSIP: 38137XAL7<br>LEI: 549300MI5PVR6JHGVV87 | Long             | ABS-CBDO         | CORP              | KY        |    450000 | PA      | $443359.04    | 0.13%             | 2035-04-20      | Floating      | 8.38%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Commercial Mortgage Trust 2024-KING                                           | CUSIP: 05612RAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1056097 | PA      | $1064159.57   | 0.31%             | 2034-05-15      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                               | UBS Commercial Mortgage Trust 2018-C12                                           | CUSIP: 90353DAV7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16977 | PA      | $16943.92     | 0.00%             | 2051-08-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                                             | OHA Credit Funding 11 Ltd                                                        | CUSIP: 67115VAW2<br>LEI: 2549002MG7GTTY5LHR97 | Long             | ABS-CBDO         | CORP              | BM        |   1680000 | PA      | $1688738.86   | 0.49%             | 2037-07-19      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                                    | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    380000 | PA      | $392231.54    | 0.11%             | 2031-02-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                | GS Mortgage Securities Corp Trust 2018-LUAU                                      | CUSIP: 36256AAS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1030000 | PA      | $1025038.08   | 0.30%             | 2032-11-15      | Floating      | 8.78%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                                             | Sands China Ltd                                                                  | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    800000 | PA      | $817651.20    | 0.24%             | 2028-08-08      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| Osmose Utilities Services Inc                                               | Osmose Utilities Services Inc                                                    | CUSIP: 68835HAH3<br>LEI: 549300FSLVHLFZ3S0D82 | Long             | LON              | CORP              | US        |    310000 | PA      | $298278.90    | 0.09%             | 2028-06-23      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| GRUPO TELEVISA SAB                                                          | Grupo Televisa SAB                                                               | CUSIP: 40049JBA4<br>LEI: 549300O4AF0C816ILN62 | Long             | DBT              | CORP              | MX        |    740000 | PA      | $513302.92    | 0.15%             | 2045-05-13      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kingpin Intermediate Holdings LLC                                           | KINGPIN INTERMEDIATE HOLDINGS LLC                                                | CUSIP: 49579GAJ1<br>LEI: 549300HRZOJTMNZCST05 | Long             | LON              | CORP              | US        |   1010000 | PA      | $983068.35    | 0.28%             | 2032-09-22      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| GLOBAL AUTO HO/AAG FH UK                                                    | Global Auto Holdings Ltd/AAG FH UK Ltd                                           | CUSIP: 00033GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    260000 | PA      | $250511.30    | 0.07%             | 2029-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| X.Ai Corp.                                                                  | XAI CORP                                                                         | CUSIP: 98402XAB1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    458850 | PA      | $480932.16    | 0.14%             | 2028-06-30      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                                    | OBX 2024-NQM1 Trust                                                              | CUSIP: 67448LAC6<br>LEI: 254900UI1468MQ7I8472 | Long             | ABS-MBS          | CORP              | US        |    530781 | PA      | $534861.99    | 0.15%             | 2063-11-25      | Variable      | 6.46%                 | 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        |    370000 | PA      | $369713.10    | 0.11%             | 2033-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBM1<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    380000 | PA      | $356545.41    | 0.10%             | 2030-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                  | Fannie Mae Pool                                                                  | CUSIP: 31418EU99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    321359 | PA      | $324899.60    | 0.09%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                                              | Long Beach Mortgage Loan Trust 2005-1                                            | CUSIP: 542514KC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1152225 | PA      | $1140601.90   | 0.33%             | 2035-02-25      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                            | Trestles CLO VIII Ltd                                                            | CUSIP: 89533DAL4<br>LEI: 2549002BMO2L1UMJWE02 | Long             | ABS-CBDO         | CORP              | KY        |    630000 | PA      | $633289.80    | 0.18%             | 2035-06-11      | Floating      | 7.30%                 | 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        |    350000 | PA      | $350225.30    | 0.10%             | 2038-11-05      | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                               | UBS Commercial Mortgage Trust 2017-C7                                            | CUSIP: 90276WAR8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    520417 | PA      | $513434.51    | 0.15%             | 2050-12-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                              | Bombardier Inc                                                                   | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    940000 | PA      | $988072.54    | 0.29%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                          | Energy Transfer LP                                                               | CUSIP: 86765BAQ2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    480000 | PA      | $439510.24    | 0.13%             | 2045-05-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                    | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    536000 | PA      | $491612.50    | 0.14%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                                           | GEO Group Inc/The                                                                | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    760000 | PA      | $832950.88    | 0.24%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| PAN AMERICAN ENERGY LLC                                                     | Pan American Energy LLC/Argentina                                                | CUSIP: 69784DAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | AR        |    380000 | PA      | $409613.41    | 0.12%             | 2032-04-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| TUTOR PERINI CORP                                                           | Tutor Perini Corp                                                                | CUSIP: 901109AG3<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |   1260000 | PA      | $1407192.63   | 0.41%             | 2029-04-30      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| TRANSALTA CORP                                                              | TransAlta Corp                                                                   | CUSIP: 89346DAE7<br>LEI: 984500EE2ADD850F1C96 | Long             | DBT              | CORP              | CA        |    350000 | PA      | $355218.31    | 0.10%             | 2040-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBL3<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    120000 | PA      | $100947.80    | 0.03%             | 2030-04-01      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan T                                              | Alternative Loan Trust 2006-18CB                                                 | CUSIP: 02147FAQ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    215707 | PA      | $229427.51    | 0.07%             | 2036-07-25      | Floating      | 12.18%                | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                                       | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |     99070 | PA      | $91763.51     | 0.03%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                                    | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    560000 | PA      | $577879.68    | 0.17%             | 2040-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| COTIVITI INC                                                                | COTIVITI INC                                                                     | CUSIP: 22164MAB3<br>LEI: 254900YAQHVRTG4IFI64 | Long             | LON              | CORP              | US        |    912896 | PA      | $881707.10    | 0.25%             | 2031-05-01      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| ABCTEC Second Out TL                                                        | ABCTEC Second Out TL                                                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    570000 | PA      | $548625.00    | 0.16%             | 2031-09-08      | None          | 0.00%                 | No            |                  3 | On Loan: No      |
| Focus Financial Partners LLC                                                | FOCUS FINANCIAL PARTNERS LLC                                                     | CUSIP: 34416DBD9<br>LEI: 5493007L0E0VKRC2CP39 | Long             | LON              | CORP              | US        |    823402 | PA      | $826275.55    | 0.24%             | 2031-09-15      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Allwyn Entertainment Financing (Us) LLC                                     | ALLWYN ENTERTAINMENT FINANCING US LLC                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    743103 | PA      | $734743.57    | 0.21%             | 2031-06-02      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                              | Ginnie Mae II Pool                                                               | CUSIP: 36179YFK5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     85673 | PA      | $85608.17     | 0.02%             | 2053-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DP WORLD LTD UAE                                                            | DP World Ltd/United Arab Emirates                                                | CUSIP: 23330JAB7<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |    480000 | PA      | $481740.52    | 0.14%             | 2048-09-25      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                            | CIFC Funding 2017-III Ltd                                                        | CUSIP: 12548JAU6<br>LEI: 254900S2BZHNDNVF2L25 | Long             | ABS-CBDO         | CORP              | KY        |    790000 | PA      | $793148.94    | 0.23%             | 2037-04-20      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                                               | MHC Trust 2021-MHC2                                                              | CUSIP: 55293AAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    960000 | PA      | $959964.86    | 0.28%             | 2038-05-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                              | Morgan Stanley Capital I Trust 2021-L7                                           | CUSIP: 61772TBN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   8819970 | PA      | $355904.30    | 0.10%             | 2054-10-15      | Variable      | 1.07%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                                       | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AD8<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |   1450000 | PA      | $1536631.70   | 0.44%             | 2036-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                                    | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAD9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    240000 | PA      | $261126.48    | 0.08%             | 2038-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                                                        | Michaels Cos Inc/The                                                             | CUSIP: 55916AAB0<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    170000 | PA      | $150025.00    | 0.04%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| AMC ENTERTAINMENT HLDGS                                                     | AMC Entertainment Holdings Inc                                                   | CUSIP: 00165CBA1<br>LEI: 549300ZO77UNR6NRBR11 | Long             | DBT              | CORP              | US        |    310000 | PA      | $263847.65    | 0.08%             | 2029-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                                      | FIRST BRANDS GROUP LLC                                                           | CUSIP: 31935HAM9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |     65541 | PA      | $69718.76     | 0.02%             | 2026-06-29      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                                       | Directv Financing LLC                                                            | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    180000 | PA      | $179159.22    | 0.05%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| LRS Holdings LLC                                                            | LRS Holdings LLC                                                                 | CUSIP: 50205HAC4<br>LEI: 2549000MQSLNQZB32779 | Long             | LON              | CORP              | US        |   1259768 | PA      | $1240871.32   | 0.36%             | 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        |    857850 | PA      | $866162.65    | 0.25%             | 2028-06-30      | Floating      | 8.71%                 | No            |                  2 | On Loan: No      |
| Ryan LLC                                                                    | RYAN LLC                                                                         | CUSIP: 78350LAZ8<br>LEI: 549300TG86D8HZC6TE67 | Long             | LON              | CORP              | US        |    915306 | PA      | $913017.55    | 0.26%             | 2030-11-14      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GHANA                                                           | Ghana Government International Bond                                              | CUSIP: 374422AP8<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |    211560 | PA      | $182861.87    | 0.05%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                                       | Bausch Health Cos Inc                                                            | CUSIP: 071734AD9<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    360000 | PA      | $331309.80    | 0.10%             | 2028-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Team Services Group LLC                                                     | TEAM PUBLIC CHOICES LLC                                                          | CUSIP: 87821EAG8<br>LEI: 2549000UQACQVCO13Y82 | Long             | LON              | CORP              | US        |    486325 | PA      | $485816.79    | 0.14%             | 2027-12-20      | Floating      | 9.09%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                                     | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBC3<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    120000 | PA      | $120448.01    | 0.03%             | 2032-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CARRIAGE SERVICES INC                                                       | Carriage Services Inc                                                            | CUSIP: 143905AP2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    910000 | PA      | $861474.25    | 0.25%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                                              | SWCH Commercial Mortgage Trust 2025-DATA                                         | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1144575.80   | 0.33%             | 2042-02-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| VFH Parent LLC                                                              | VFH PARENT LLC                                                                   | CUSIP: 91820UAV2<br>LEI: 549300FRO9M476YHHY64 | Long             | LON              | CORP              | US        |   1070000 | PA      | $1073595.20   | 0.31%             | 2031-06-21      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                                                      | JB Poindexter & Co Inc                                                           | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |    625000 | PA      | $654820.00    | 0.19%             | 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        |   1430000 | PA      | $1506373.44   | 0.44%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| Virgin Media Bristol LLC                                                    | Virgin Media Bristol LLC                                                         | CUSIP: 000000000<br>LEI: 213800IQ982XX69LE276 | Long             | LON              | CORP              | US        |    700000 | PA      | $686500.50    | 0.20%             | 2031-03-31      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                            | Altice France SA                                                                 | CUSIP: 02090DAD0<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |   1578705 | PA      | $1512980.26   | 0.44%             | 2032-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Jamestown CLO Ltd                                                           | Jamestown CLO IX Ltd                                                             | CUSIP: 47048JBK8<br>LEI: 254900NFTK4YH0WYT485 | Long             | ABS-CBDO         | CORP              | KY        |    490000 | PA      | $489921.89    | 0.14%             | 2034-07-25      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| COUNTRY GARDEN HLDGS                                                        | Country Garden Holdings Co Ltd                                                   | CUSIP: 000000000<br>LEI: 549300MGHLPT1EFHGF84 | Long             | DBT              | CORP              | KY        |    620000 | PA      | $61491.60     | 0.02%             | 2024-01-27      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                                     | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAF8<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |   1800000 | PA      | $1353952.26   | 0.39%             | 2046-10-01      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Bravo Mortgage Asset Trust                                                  | Bravo Mortgage Asset Trust                                                       | CUSIP: 105667AD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1940306 | PA      | $1767147.54   | 0.51%             | 2036-07-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                                    | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AK4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    310000 | PA      | $326305.38    | 0.09%             | 2032-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HIG Finance 2 Limited                                                       | HOWDEN GROUP HOLDINGS LTD                                                        | CUSIP: 000000000<br>LEI: 875500V3HPKZIQP10J32 | Long             | LON              | CORP              | GB        |    230734 | PA      | $232044.09    | 0.07%             | 2030-04-18      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                                     | NYMT Loan Trust Series 2024-BPL1                                                 | CUSIP: 62956MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1010000 | PA      | $1016945.06   | 0.29%             | 2029-02-25      | Variable      | 7.15%                 | No            |                  2 | On Loan: No      |
| Evertec Group LLC                                                           | EVERTEC LLC                                                                      | CUSIP: 000000000<br>LEI: 54930056CPTQSUNQYB82 | Long             | LON              | CORP              | US        |    540000 | PA      | $542700.00    | 0.16%             | 2030-10-30      | Floating      | 6.21%                 | 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        |    372457 | PA      | $379868.05    | 0.11%             | 2039-07-25      | Floating      | 8.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                                                     | El Salvador Government International Bond                                        | CUSIP: 283875CG5<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |    530000 | PA      | $597249.75    | 0.17%             | 2054-11-21      | Fixed         | 9.65%                 | No            |                  2 | On Loan: No      |
| WBI OPERATING LLC                                                           | WBI Operating LLC                                                                | CUSIP: 92944BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450000 | PA      | $450285.75    | 0.13%             | 2033-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LATAM AIRLINES GROUP SA                                                     | Latam Airlines Group SA                                                          | CUSIP: 51817RAD8<br>LEI: 549300HX3UUDPEFTG707 | Long             | DBT              | CORP              | CL        |    480000 | PA      | $496992.00    | 0.14%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NMEF Funding LLC                                                            | NMEF Funding 2025-A LLC                                                          | CUSIP: 62919VAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    780000 | PA      | $792312.61    | 0.23%             | 2032-07-15      | Fixed         | 8.07%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                                               | CommScope LLC                                                                    | CUSIP: 203372AV9<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    640000 | PA      | $643360.00    | 0.19%             | 2028-07-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage A                                              | Ginnie Mae II Pool                                                               | CUSIP: 36179VT26<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     97206 | PA      | $96870.58     | 0.03%             | 2050-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                                      | Cloud Software Group Inc                                                         | CUSIP: 18912UAG7<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |    300000 | PA      | $300966.30    | 0.09%             | 2033-08-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                                     | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |    590000 | PA      | $591438.66    | 0.17%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Sonrava Health Holdings LLC (f/k/a PDS Holdco Inc)                          | SONRAVA HEALTH CO-BORROWER LLC                                                   | CUSIP: 83569KAF1<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1707142 | PA      | $324356.99    | 0.09%             | 2028-08-18      | Floating      | 10.78%                | No            |                  3 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                | MPH ACQUISITION HOLDINGS LLC                                                     | CUSIP: 55328HAP6<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |    201460 | PA      | $201753.77    | 0.06%             | 2030-12-31      | Floating      | 7.59%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                    | EQT Corp                                                                         | CUSIP: 26884LBB4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    170000 | PA      | $187341.17    | 0.05%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TIME WARNER CABLE LLC                                                       | Time Warner Cable LLC                                                            | CUSIP: 88732JAU2<br>LEI: 549300U5NFR7S6E3GM41 | Long             | DBT              | CORP              | US        |    330000 | PA      | $339101.94    | 0.10%             | 2039-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MSWF Commercial Mortgage Trust                                              | MSWF Commercial Mortgage Trust 2023-2                                            | CUSIP: 55361AAZ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    930000 | PA      | $988391.91    | 0.29%             | 2056-12-15      | Variable      | 7.02%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                            | Altice France SA                                                                 | CUSIP: 02090DAE8<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |    800904 | PA      | $769623.57    | 0.22%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Calabrio/Verint                                                             | CALABRIO INC                                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    250000 | PA      | $237812.50    | 0.07%             | 2032-10-24      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                                                    | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    330000 | PA      | $349854.12    | 0.10%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                    | Western Midstream Operating LP                                                   | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1002629.49   | 0.29%             | 2048-03-01      | Fixed         | 5.30%                 | 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        |    150000 | PA      | $167319.04    | 0.05%             | 2028-06-05      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                    | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    710000 | PA      | $752626.27    | 0.22%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Bank                                                                        | BANK 2024-BNK48                                                                  | CUSIP: 06541GAH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    665000 | PA      | $679284.73    | 0.20%             | 2057-10-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| CLARITEV CORP                                                               | Claritev Corp                                                                    | CUSIP: 62548MAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    887200 | PA      | $714196.00    | 0.21%             | 2031-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| X Corp (f/k/a Twitter Inc)                                                  | X CORP                                                                           | CUSIP: 90184NAK4<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    390000 | PA      | $391706.25    | 0.11%             | 2029-10-26      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Trust 2021-SDMF                                                               | CUSIP: 12434CAQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1053253 | PA      | $1046557.69   | 0.30%             | 2034-09-15      | Floating      | 6.08%                 | No            |                  2 | On Loan: No      |
| Hayfin US XV, Ltd.                                                          | Hayfin US XV Ltd                                                                 | CUSIP: 420916AL2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1680000 | PA      | $1689246.55   | 0.49%             | 2037-04-28      | Floating      | 8.12%                 | No            |                  2 | On Loan: No      |
| MH Sub I LLC                                                                | MH SUB I LLC                                                                     | CUSIP: 45567YAP0<br>LEI: 2549005VFKP807SR8N49 | Long             | LON              | CORP              | US        |    500227 | PA      | $404433.87    | 0.12%             | 2031-12-31      | Floating      | 8.21%                 | No            |                  2 | On Loan: No      |
| Opal Bidco SAS                                                              | OPAL US LLC                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   1060000 | PA      | $1065798.20   | 0.31%             | 2032-04-28      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| KNDR Trust 2021-KIND                                                        | KIND Trust 2021-KIND                                                             | CUSIP: 482606AN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    932343 | PA      | $919084.44    | 0.27%             | 2038-08-15      | Floating      | 6.45%                 | 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        |    348000 | PA      | $327577.77    | 0.09%             | 2033-01-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| National Collegiate Student Lo                                              | National Collegiate Student Loan Trust 2005-1                                    | CUSIP: 63543PBK1<br>LEI: 635400YFCYTJSI5XDJ17 | Long             | ABS-O            | CORP              | US        |    501702 | PA      | $468944.60    | 0.14%             | 2035-03-26      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                                    | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    910000 | PA      | $842030.55    | 0.24%             | 2031-08-15      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| MPH Acquisition Holdings LLC                                                | MPH ACQUISITION HOLDINGS LLC                                                     | CUSIP: 55328HAQ4<br>LEI: 5493002WXOPRPTXWTU06 | Long             | LON              | CORP              | US        |    674975 | PA      | $640031.70    | 0.18%             | 2030-12-31      | Floating      | 8.70%                 | No            |                  2 | On Loan: No      |
| Phoenix Guarantor Inc                                                       | PHOENIX GUARANTOR INC                                                            | CUSIP: 71913BAK8<br>LEI: 254900JIOIDL3GSUFE55 | Long             | LON              | CORP              | US        |    699153 | PA      | $702068.50    | 0.20%             | 2031-02-21      | Floating      | 6.46%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                                                        | Michaels Cos Inc/The                                                             | CUSIP: 55916AAA2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |    430000 | PA      | $403675.94    | 0.12%             | 2028-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                                | CSMC Trust 2017-CHOP                                                             | CUSIP: 12651QAU3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1100000 | PA      | $1054548.99   | 0.30%             | 2032-07-15      | Floating      | 11.54%                | 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        |    360000 | PA      | $375818.32    | 0.11%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage                                               | Citigroup Commercial Mortgage Trust 2017-P8                                      | CUSIP: 17326DAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |  20265703 | PA      | $222730.20    | 0.06%             | 2050-09-15      | Variable      | 0.86%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPE                                                    | Plains All American Pipeline LP                                                  | CUSIP: 726503AE5<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |    610000 | PA      | $611668.96    | 0.18%             | N/A             | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| Citibank, National Association                                              | USD/AUD FORWARD                                                                  | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-14.24       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                      | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |   1630000 | PA      | $1742106.51   | 0.50%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Madison Iaq LLC                                                             | MADISON IAQ LLC                                                                  | CUSIP: 55759VAD0<br>LEI: 549300IXDNBXNHUPBU73 | Long             | LON              | CORP              | US        |    399000 | PA      | $400995.00    | 0.12%             | 2032-05-06      | Floating      | 7.45%                 | No            |                  2 | On Loan: No      |
| CORECIVIC INC                                                               | CoreCivic Inc                                                                    | CUSIP: 21871NAA9<br>LEI: 529900JFA3K6PTLT8B15 | Long             | DBT              | CORP              | US        |    970000 | PA      | $962478.14    | 0.28%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PARK-OHIO INDUSTRIES INC                                                    | Park-Ohio Industries Inc                                                         | CUSIP: 700677AS6<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |    840000 | PA      | $858152.40    | 0.25%             | 2030-08-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECH LLC                                                          | CommScope Technologies LLC                                                       | CUSIP: 20338HAB9<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |    980000 | PA      | $977022.37    | 0.28%             | 2027-03-15      | Fixed         | 5.00%                 | 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        |    270000 | PA      | $278310.60    | 0.08%             | 2029-11-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| AAR ESCROW ISSUER LLC                                                       | AAR Escrow Issuer LLC                                                            | CUSIP: 00253PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $216973.05    | 0.06%             | 2029-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DEVON ENERGY CORPORATION                                                    | Devon Energy Corp                                                                | CUSIP: 25179MAL7<br>LEI: 54930042348RKR3ZPN35 | Long             | DBT              | CORP              | US        |    360000 | PA      | $347843.85    | 0.10%             | 2041-07-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Starlight Parent LLC                                                        | STARLIGHT PARENT LLC                                                             | CUSIP: 85554UAB0<br>LEI: 254900ZM34IBOK68V949 | Long             | LON              | CORP              | US        |    882554 | PA      | $879248.74    | 0.25%             | 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        |    350000 | PA      | $351278.66    | 0.10%             | 2034-04-17      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| SFO Commerical Mortgage Trust                                               | SFO Commercial Mortgage Trust 2021-555                                           | CUSIP: 78432WAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1070000 | PA      | $1058608.14   | 0.31%             | 2038-05-15      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| SPIRIT AIRLINES LLC                                                         | SPIRIT AIRLINES LLC                                                              | CUSIP: 84863V135<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     73904 | NS      | $26605.44     | 0.01%             |  |  |  | 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        |      1455 | NS      | $21947.44     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Freddie Mac - SCRT                                                          | Freddie Mac Seasoned Credit Risk Transfer Trust Series 2019-3                    | CUSIP: 35563PLU1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1167435 | PA      | $1148150.71   | 0.33%             | 2058-10-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Starwood Property Mortgage LLC                                              | STARWOOD PROPERTY MORTGAGE LLC                                                   | CUSIP: 85570DAN2<br>LEI: 5493008SB15CNJRIOK13 | Long             | LON              | CORP              | US        |    482593 | PA      | $483196.65    | 0.14%             | 2027-11-18      | Floating      | 5.71%                 | No            |                  3 | On Loan: No      |
| 1261229 BC LTD                                                              | 1261229 BC Ltd                                                                   | CUSIP: 68288AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    800000 | PA      | $837019.62    | 0.24%             | 2032-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                                       | KKR Clo 17 Ltd                                                                   | CUSIP: 48251GAC3<br>LEI: 549300I0HBY0ZQ3YIB77 | Long             | ABS-CBDO         | CORP              | KY        |    700000 | PA      | $670653.27    | 0.19%             | 2034-04-15      | Floating      | 11.56%                | No            |                  2 | On Loan: No      |
| PROSUS NV                                                                   | Prosus NV                                                                        | CUSIP: 74365PAF5<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    460000 | PA      | $419137.78    | 0.12%             | 2031-07-13      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                                                    | Western Midstream Operating LP                                                   | CUSIP: 958254AD6<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1580000 | PA      | $1427209.37   | 0.41%             | 2044-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                                         | Intesa Sanpaolo SpA                                                              | CUSIP: 46115HCF2<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |   1330000 | PA      | $1647585.59   | 0.48%             | 2053-11-28      | Fixed         | 7.80%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                                                    | Advanced Drainage Systems Inc                                                    | CUSIP: 00790RAA2<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    230000 | PA      | $229603.46    | 0.07%             | 2027-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMC NETWORKS INC                                                            | AMC Networks Inc                                                                 | CUSIP: 00164VAG8<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    150000 | PA      | $157587.45    | 0.05%             | 2029-01-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| ARBOR REALTY SR INC                                                         | Arbor Realty SR Inc                                                              | CUSIP: 03881NAJ6<br>LEI: 549300TW7RTL2CI3CN08 | Long             | DBT              | CORP              | US        |    250000 | PA      | $254475.68    | 0.07%             | 2030-07-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                      | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    820000 | PA      | $742992.59    | 0.21%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                  | Fannie Mae Pool                                                                  | CUSIP: 31418EAN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    382299 | PA      | $326428.09    | 0.09%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                                                    | AerCap Ireland Capital DAC / AerCap Global Aviation Trust                        | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    500000 | PA      | $525981.30    | 0.15%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                                | UBS Group AG                                                                     | CUSIP: 225401BJ6<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |    780000 | PA      | $794364.13    | 0.23%             | N/A             | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                                                | Ecopetrol SA                                                                     | CUSIP: 279158AV1<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    570000 | PA      | $591358.47    | 0.17%             | 2036-01-19      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Aveanna Healthcare LLC                                                      | AVEANNA HEALTHCARE LLC                                                           | CUSIP: 05549DAN8<br>LEI: 5493006D6JRLPIY8YV18 | Long             | LON              | CORP              | US        |    600000 | PA      | $602487.00    | 0.17%             | 2032-09-17      | Floating      | 7.71%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                                                | Huntington Bank Auto Credit-Linked Notes Series 2025-1                           | CUSIP: 446438TA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    749162 | PA      | $749713.09    | 0.22%             | 2033-03-21      | Floating      | 7.68%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                              | NRG Energy Inc                                                                   | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    370000 | PA      | $381218.77    | 0.11%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan T                                              | Morgan Stanley Mortgage Loan Trust 2005-2AR                                      | CUSIP: 61745M4G5<br>LEI: 549300M91PFQR7JLJ570 | Long             | ABS-MBS          | CORP              | US        |    797326 | PA      | $699190.05    | 0.20%             | 2035-04-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                                                      | RR Donnelley & Sons Co                                                           | CUSIP: 257867BJ9<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |    760000 | PA      | $779889.20    | 0.23%             | 2029-08-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| LUXCO3 DUMMY EQUITY                                                         | LUXCO3 DUMMY EQUITY                                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     29268 | NS      | $491023.99    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                                                       | Argentine Republic Government International Bond                                 | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |    163103 | PA      | $133744.20    | 0.04%             | 2030-07-09      | Variable      | 0.75%                 | 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       |    710000 | PA      | $698550.93    | 0.20%             | 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        |    917700 | PA      | $914639.47    | 0.26%             | 2032-06-04      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                  | Verus Securitization Trust 2025-R1                                               | CUSIP: 92541AAC4<br>LEI: 213800UBQ9UM61L7TB84 | Long             | ABS-MBS          | CORP              | US        |    816333 | PA      | $822520.29    | 0.24%             | 2065-05-25      | Variable      | 5.77%                 | No            |                  2 | On Loan: No      |
| Flutter Entertainment Public Limited Company                                | FLUTTER ENTERTAINMENT PLC                                                        | CUSIP: 000000000<br>LEI: 635400VFWPBIKJK6GN11 | Long             | LON              | CORP              | NL        |    915385 | PA      | $912867.37    | 0.26%             | 2030-11-30      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| PAMPA ENERGIA SA                                                            | Pampa Energia SA                                                                 | CUSIP: 697660AE8<br>LEI: 254900QNIK0CVURGML24 | Long             | DBT              | CORP              | AR        |    370000 | PA      | $382265.50    | 0.11%             | 2031-09-10      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| INTEL CORP                                                                  | Intel Corp                                                                       | CUSIP: 458140CJ7<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | DBT              | CORP              | US        |    260000 | PA      | $250132.10    | 0.07%             | 2053-02-10      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                                       | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    300000 | PA      | $299135.49    | 0.09%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                                        | Alpha Generation LLC                                                             | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |    820000 | PA      | $843388.06    | 0.24%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Medline Borrower LP                                                         | MEDLINE BORROWER LP                                                              | CUSIP: 58503UAH6<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |    890911 | PA      | $892617.59    | 0.26%             | 2028-10-23      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARGENTINA                                                       | Argentine Republic Government International Bond                                 | CUSIP: 040114HX1<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |         0 | PA      | $0.01         | 0.00%             | 2029-07-09      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Bank                                                                        | BANK 2023-BNK46                                                                  | CUSIP: 06541DAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1180000 | PA      | $950120.31    | 0.27%             | 2056-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                                                               | TopBuild Corp                                                                    | CUSIP: 89055FAD5<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |    820000 | PA      | $823940.92    | 0.24%             | 2034-01-31      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                                              | Trust Fibra Uno                                                                  | CUSIP: 898339AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    390000 | PA      | $381341.96    | 0.11%             | 2030-01-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                                                          | PBF Holding Co LLC / PBF Finance Corp                                            | CUSIP: 69318FAJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    210000 | PA      | $208607.09    | 0.06%             | 2028-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GSMPS Mortgage Loan Trust                                                   | GSMPS Mortgage Loan Trust 2006-RP2                                               | CUSIP: 36298XAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1110798 | PA      | $961495.41    | 0.28%             | 2036-04-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Peninsula Pacific Entertainment LLC                                         | PENINSULA PACIFIC ENTERTAINMENT DEVELOPMENT LLC                                  | CUSIP: 70715SAB3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    615651 | PA      | $616420.20    | 0.18%             | 2032-10-01      | Floating      | 8.74%                 | No            |                  3 | On Loan: No      |
| REPUBLIC OF NIGERIA                                                         | Nigeria Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |    520000 | PA      | $519920.79    | 0.15%             | 2030-02-23      | Fixed         | 7.14%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                                                    | Uruguay Government International Bond                                            | CUSIP: 917288BP6<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |   6077397 | PA      | $156458.86    | 0.05%             | 2045-05-16      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                                          | Dominican Republic International Bond                                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    310000 | PA      | $297770.50    | 0.09%             | 2032-09-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                                      | First Brands Group LLC                                                           | CUSIP: 31935HAG2<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    571099 | PA      | $190175.85    | 0.05%             | 2027-03-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                                                    | MPH Acquisition Holdings LLC                                                     | CUSIP: 553283AF9<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |    161665 | PA      | $174535.45    | 0.05%             | 2030-12-31      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH COS INC                                                       | Bausch Health Cos Inc                                                            | CUSIP: 071734AK3<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |    100000 | PA      | $82125.00     | 0.02%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                                  | MFA 2023-NQM4 Trust                                                              | CUSIP: 55286LAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    374343 | PA      | $378017.87    | 0.11%             | 2068-12-25      | Variable      | 6.78%                 | No            |                  2 | On Loan: No      |
| PROVINCIA DE CORDOBA                                                        | Provincia de Cordoba                                                             | CUSIP: 74408DAF1<br>LEI: 5299006CLM2Z97AATT29 | Long             | DBT              | NUSS              | AR        |    637000 | PA      | $655568.55    | 0.19%             | 2032-07-02      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                                                    | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 74841CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    290000 | PA      | $278828.21    | 0.08%             | 2029-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH AMERICAS                                                      | Bausch Health Americas Inc                                                       | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |    180000 | PA      | $179381.70    | 0.05%             | 2027-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                                              | ARES1 2024-IND2                                                                  | CUSIP: 04021EAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    965000 | PA      | $966835.04    | 0.28%             | 2034-10-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                                                      | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAA1<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |    280000 | PA      | $282425.64    | 0.08%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Alpha Generation LLC                                                        | ALPHA GENERATION LLC                                                             | CUSIP: 02072UAC6<br>LEI: 254900K5V62L4YGVKF49 | Long             | LON              | CORP              | US        |    484603 | PA      | $485758.30    | 0.14%             | 2031-09-30      | Floating      | 5.96%                 | No            |                  2 | On Loan: No      |
| Spirit Aviation Holdings Inc                                                | Spirit Aviation Holdings Inc                                                     | CUSIP: 84863V101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    104017 | NS      | $37446.12     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Katayma CLO Ltd                                                             | Katayma CLO I Ltd                                                                | CUSIP: 48585JAJ9<br>LEI: 254900I6JJYMZNFX8987 | Long             | ABS-CBDO         | CORP              | JE        |    340000 | PA      | $341423.95    | 0.10%             | 2036-10-20      | Floating      | 9.13%                 | No            |                  2 | On Loan: No      |
| MOUNTAIN VIEW CLO                                                           | Mountain View Clo XIX Ltd                                                        | CUSIP: 623910AN6<br>LEI: 254900L6WFB2NIQTBG86 | Long             | ABS-CBDO         | CORP              | KY        |    480000 | PA      | $485503.25    | 0.14%             | 2038-10-17      | Floating      | 7.23%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                                       | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |    290000 | PA      | $301011.88    | 0.09%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                                             | Sands China Ltd                                                                  | CUSIP: 80007RAS4<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    210000 | PA      | $193421.82    | 0.06%             | 2031-08-08      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| VERICAST CORP/HARLAND                                                       | Vericast Corp/Harland Clarke/Checks in the Mail/Valassis Comm/Valassis Direct    | CUSIP: 92342NAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    524157 | PA      | $638161.70    | 0.18%             | 2030-12-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                                         | Axon Enterprise Inc                                                              | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |     90000 | PA      | $92658.42     | 0.03%             | 2030-03-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS MGM RESORTS INTERNATIONAL                                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $-77972.31    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                                 | Extended Stay America Trust 2025-ESH                                             | CUSIP: 30227TAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    690000 | PA      | $696524.92    | 0.20%             | 2042-10-15      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                 | Freddie Mac Pool                                                                 | CUSIP: 3132DVL52<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    316322 | PA      | $274787.76    | 0.08%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA                                                    | Cooperatieve Rabobank UA                                                         | CUSIP: 000000000<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |   1400000 | PA      | $1618494.65   | 0.47%             | N/A             | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| PAMPA ENERGIA SA                                                            | Pampa Energia SA                                                                 | CUSIP: 697660AF5<br>LEI: 254900QNIK0CVURGML24 | Long             | DBT              | CORP              | AR        |    130000 | PA      | $131924.00    | 0.04%             | 2034-12-16      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MHC Commercial Mortgage Trust                                               | MHC Commercial Mortgage Trust 2021-MHC                                           | CUSIP: 55316VAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1040000 | PA      | $1040951.18   | 0.30%             | 2038-04-15      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| First Franklin Mtg Loan Asset                                               | First Franklin Mortgage Loan Trust 2003-FF4                                      | CUSIP: 32027NDU2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    330743 | PA      | $329183.52    | 0.10%             | 2033-10-25      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| INTER-AMERICAN DEVEL BK                                                     | Inter-American Development Bank                                                  | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | N/A       | 222000000 | PA      | $2574583.55   | 0.74%             | 2030-10-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| Clydesdale Acquisition Holdings Inc                                         | CLYDESDALE ACQUISITION HOLDINGS INC                                              | CUSIP: 18972FAF9<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |      7531 | PA      | $7522.57      | 0.00%             | 2032-04-01      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                                         | Freddie Mac STACR Securitized Participation Interests Trust 2017-SPI1            | CUSIP: 3137G1CG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    620133 | PA      | $440526.32    | 0.13%             | 2047-09-25      | Variable      | 4.11%                 | No            |                  2 | On Loan: No      |
| Global Medical Response Inc                                                 | GLOBAL MEDICAL RESPONSE                                                          | CUSIP: 37956SAB0<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | LON              | CORP              | US        |    220000 | PA      | $221185.80    | 0.06%             | 2032-10-01      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS TRANSOCEAN INC                                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $17879.00     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| 720 East CLO Ltd.                                                           | 720 East CLO VII Ltd                                                             | CUSIP: 81789NAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    630000 | PA      | $631184.84    | 0.18%             | 2037-04-20      | Floating      | 8.63%                 | No            |                  2 | On Loan: No      |
| CALATLANTIC GROUP                                                           | CalAtlantic Group LLC                                                            | CUSIP: 128195AN4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    250000 | PA      | $248599.73    | 0.07%             | 2026-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Peninsula Pacific Entertainment LLC                                         | PENINSULA PACIFIC ENTERTAINMENT DEVELOPMENT LLC                                  | CUSIP: 70715SAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    144349 | PA      | $144529.80    | 0.04%             | 2032-10-01      | Floating      | 0.00%                 | No            |                  3 | On Loan: No      |
| Natixis Commercial Mortgage Se                                              | Natixis Commercial Mortgage Securities Trust 2019-FAME                           | CUSIP: 63873VAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    660000 | PA      | $254566.29    | 0.07%             | 2036-08-15      | Variable      | 4.40%                 | No            |                  2 | On Loan: No      |
| Bank                                                                        | BANK 2022-BNK44                                                                  | CUSIP: 06540KBQ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1010000 | PA      | $796637.60    | 0.23%             | 2032-11-15      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Dayforce Inc                                                                | DAYFORCE INC                                                                     | CUSIP: 23958CAD9<br>LEI: 549300T64GVCHFJ8L449 | Long             | LON              | CORP              | US        |    352105 | PA      | $352765.52    | 0.10%             | 2031-02-26      | Floating      | 5.84%                 | No            |                  3 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                                    | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |    400000 | PA      | $403828.80    | 0.12%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                                             | Sands China Ltd                                                                  | CUSIP: 80007RAQ8<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    530000 | PA      | $502466.34    | 0.15%             | 2029-03-08      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| ARCTIC CANADIAN DIAMONDS                                                    | ARCTIC CANADIAN DIAMONDS                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |      1388 | NS      | $19951.76     | 0.01%             |  |  |  | No            |                  3 | On Loan: No      |
| CD Commercial Mortgage Trust                                                | CD 2017-CD5 Mortgage Trust                                                       | CUSIP: 12515HAZ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10000 | PA      | $9822.63      | 0.00%             | 2050-08-15      | Fixed         | 3.43%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                                 | US ULTRA BOND CBT                                                                | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        35 | NC      | $145407.50    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| FHLMC Multifamily Structured P                                              | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FWG95<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   1473518 | PA      | $75383.11     | 0.02%             | 2030-06-25      | Variable      | 1.31%                 | No            |                  2 | On Loan: No      |
| Nexus Buyer LLC                                                             | NEXUS BUYER LLC                                                                  | CUSIP: 65343UAH5<br>LEI: 254900PILSANV8WOOF24 | Long             | LON              | CORP              | US        |    854256 | PA      | $849864.64    | 0.25%             | 2031-07-31      | Floating      | 7.46%                 | No            |                  2 | On Loan: No      |
| Thermostat Purchaser III Inc                                                | THERMOSTAT PURCHASER III INC                                                     | CUSIP: 88366MAE4<br>LEI: 254900K7OD47ERJZN242 | Long             | LON              | CORP              | US        |    518883 | PA      | $519746.95    | 0.15%             | 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        |    400000 | PA      | $433747.05    | 0.13%             | N/A             | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Team Services Group LLC                                                     | TEAM PUBLIC CHOICES LLC                                                          | CUSIP: 87821EAB9<br>LEI: 2549000UQACQVCO13Y82 | Long             | LON              | CORP              | US        |    651473 | PA      | $651134.08    | 0.19%             | 2027-12-20      | Floating      | 9.10%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                                | ARES XLIV CLO Ltd                                                                | CUSIP: 04016NBR3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    500000 | PA      | $501303.25    | 0.14%             | 2034-04-15      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                               | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    260000 | PA      | $262886.26    | 0.08%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Arini US CLO Limited                                                        | Arini US Clo III Ltd                                                             | CUSIP: 03990MAA5<br>LEI: 254900RLGVSRR5ZHHW52 | Long             | ABS-CBDO         | CORP              | KY        |    460000 | PA      | $461150.00    | 0.13%             | 2039-01-15      | Floating      | 0.01%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mor                                              | Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3                | CUSIP: 06427DAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1150000 | PA      | $1050171.38   | 0.30%             | 2050-02-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                                               | NYC Commercial Mortgage Trust 2025-28L                                           | CUSIP: 67123JAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    900000 | PA      | $898266.69    | 0.26%             | 2038-11-05      | Variable      | 9.32%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                             | CDS CAESARS ENTERTAINMENT INC                                                    | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |         1 | NC      | $53880.03     | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                                                         | Altice Financing SA                                                              | CUSIP: 02154CAH6<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |   1900000 | PA      | $1384644.00   | 0.40%             | 2029-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| First Brands Group LLC                                                      | First Brands Group LLC                                                           | CUSIP: 31935HAD9<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    146165 | PA      | $48672.93     | 0.01%             | 2027-03-30      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| CAPSTONE COPPER CORP                                                        | Capstone Copper Corp                                                             | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    270000 | PA      | $279595.80    | 0.08%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| QAZAQGAZ NC JSC                                                             | QazaqGaz NC JSC                                                                  | CUSIP: 48668NAA9<br>LEI: 635400YGLXBBSVHONW39 | Long             | DBT              | CORP              | KZ        |    480000 | PA      | $477000.48    | 0.14%             | 2027-09-26      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                    | BX Commercial Mortgage Trust 2022-LP2                                            | CUSIP: 05610HAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    987000 | PA      | $987217.14    | 0.29%             | 2039-02-15      | Floating      | 8.14%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                  | Fannie Mae Pool                                                                  | CUSIP: 3140XP3F4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    488931 | PA      | $501095.01    | 0.14%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MPH ACQUISITION HOLDINGS                                                    | MPH Acquisition Holdings LLC                                                     | CUSIP: 553283AG7<br>LEI: 5493002WXOPRPTXWTU06 | Long             | DBT              | CORP              | US        |     98392 | PA      | $89437.97     | 0.03%             | 2030-12-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Dynamo Us Bidco Inc.                                                        | DYNAMO US BIDCO INC                                                              | CUSIP: 26806DAC6<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    970200 | PA      | $975657.38    | 0.28%             | 2031-09-30      | Floating      | 7.36%                 | No            |                  3 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                       | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |    330000 | PA      | $338277.06    | 0.10%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                                            | Connecticut Avenue Securities Trust 2022-R01                                     | CUSIP: 20754LAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    670000 | PA      | $685410.00    | 0.20%             | 2041-12-25      | Floating      | 7.33%                 | 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