# EDGAR Filing Document

**Accession Number:** 0000863520
**File Stem:** 0001752724-23-051613
**Filing Date:** 2023-3
**Character Count:** 146875
**Document Hash:** 81fe591e65fb21baa0e2910d3641f1c8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-051613.hdr.sgml**: 20230310

**ACCESSION NUMBER**: 0001752724-23-051613

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230310

**DATE AS OF CHANGE**: 20230310

**EFFECTIVENESS DATE**: 20230310

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WESTERN ASSET FUNDS INC
- **CENTRAL INDEX KEY:** 0000863520
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06110
- **FILM NUMBER:** 23722125

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INTERNATIONAL DRIVE
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 410-454-2760

**MAIL ADDRESS:**
- **STREET 1:** 100 INTERNATIONAL DRIVE
- **STREET 2:** 7TH FLOOR
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LM INSTITUTIONAL FUND ADVISORS I INC
- **DATE OF NAME CHANGE:** 19980818

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WESTERN ASSET TRUST INC
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### Western Asset Core Bond Fund (Series ID: S000000713)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000002079 | Class I      | WATFX           |
| C000002080 | Class FI     | WAPIX           |
| C000066988 | Class IS     | WACSX           |
| C000113701 | CLASS A      | WABAX           |
| C000113702 | CLASS C      | WABCX           |
| C000113703 | CLASS R      | WABRX           |
| C000117034 | Class C1     | LWACX           |

### Western Asset Core Plus Bond Fund (Series ID: S000000714)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000002081 | Class I      | WACPX           |
| C000002082 | Class FI     | WACIX           |
| C000066989 | Class IS     | WAPSX           |
| C000113704 | CLASS A      | WAPAX           |
| C000113705 | CLASS C      | WAPCX           |
| C000113706 | CLASS R      | WAPRX           |
| C000117035 | Class C1     | LWCPX           |

### Western Asset Inflation Indexed Plus Bond Fund (Series ID: S000000715)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000002083 | Class FI     | WATPX           |
| C000002084 | Class I      | WAIIX           |
| C000066990 | Class IS     | WAFSX           |
| C000113707 | CLASS A      | WAFAX           |
| C000113708 | CLASS C      | WAFCX           |
| C000113709 | CLASS R      | WAFRX           |
| C000117036 | Class C1     | LWICX           |

## Internal

**Report of Independent Registered Public Accounting Firm**

To the Board of Directors of Western Asset Funds, Inc. and Shareholders of Western Asset Core Bond Fund, Western Asset Core Plus Bond Fund and Western Asset Inflation Indexed Plus Bond Fund

In planning and performing our audits of the financial statements of Western Asset Core Bond Fund, Western Asset Core Plus Bond Fund and Western Asset Inflation Indexed Plus Bond Fund (each a series of Western Asset Funds, Inc., hereinafter collectively referred to as the "Funds") as of and for the year ended December 31, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds' internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Funds' internal control over financial reporting.

The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.

Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.

Our consideration of the Funds' internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds' internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of December 31, 2022.

This report is intended solely for the information and use of the Board of Directors of Western Asset Funds, Inc. and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.

/s/ PricewaterhouseCoopers LLP

Baltimore, Maryland

February 22, 2023

PricewaterhouseCoopers LLP, 100 East Pratt Street, Suite 2600, Baltimore, MD 21202-1096

T: (410) 783 7600, F: (410) 783 7680, www .pwc.com/us

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0000863520

## N-CEN: Series/Class (Contract) Information

**Series ID Record:1**
- **Series ID:** S000000714

**Series ID Record:2**
- **Series ID:** S000000715

**Series ID Record:3**
- **Series ID:** S000000713

**Class ID Record:1**
- **Class ID:** C000117035

**Class ID Record:2**
- **Class ID:** C000113704

**Class ID Record:3**
- **Class ID:** C000113706

**Class ID Record:4**
- **Class ID:** C000002081

**Class ID Record:5**
- **Class ID:** C000002082

**Class ID Record:6**
- **Class ID:** C000066989

**Class ID Record:7**
- **Class ID:** C000113705

**Class ID Record:8**
- **Class ID:** C000002083

**Class ID Record:9**
- **Class ID:** C000117036

**Class ID Record:10**
- **Class ID:** C000113708

**Class ID Record:11**
- **Class ID:** C000002084

**Class ID Record:12**
- **Class ID:** C000113709

**Class ID Record:13**
- **Class ID:** C000113707

**Class ID Record:14**
- **Class ID:** C000066990

**Class ID Record:15**
- **Class ID:** C000002080

**Class ID Record:16**
- **Class ID:** C000113702

**Class ID Record:17**
- **Class ID:** C000066988

**Class ID Record:18**
- **Class ID:** C000117034

**Class ID Record:19**
- **Class ID:** C000002079

**Class ID Record:20**
- **Class ID:** C000113701

**Class ID Record:21**
- **Class ID:** C000113703

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2022-12-31

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** Western Asset Funds Inc

- **Item B.1.b - Investment Company Act file number:** 811-06110

- **Item B.1.c - CIK:** 0000863520

- **Item B.1.d - LEI:** 5493004NC00X8WKL1P34

- **Item B.2.a - Street 1:** 620 Eighth Avenue

- **Item B.2.a - Street 2:** 47th Floor

- **Item B.2.b - City:** New York

- **Item B.2.c - State:** NY

- **Item B.2.e - Zip Code:** 10018

- **Item B.2.f - Telephone:** 1-877-721-1926

- **Item B.2.g - Public Website:** www.franklintempleton.com

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company Limited

- **b. Street 1:** 10 Exchange Square

- **Street 2:** Primrose Street

- **c. City:** London

- **f. Zip code and zip code extension, or foreign postal code:** EC2A 2EN

- **g. Telephone number:** 44-20-7422-3000

- **h. Briefly describe the books and records kept at this location:** Records related to its function as sub-advisor.

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** The Bank of New York Mellon

- **b. Street 1:** 240 Greenwich Street

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10286

- **g. Telephone number:** 1-212-495-1784

- **h. Briefly describe the books and records kept at this location:** Records related to its function as custodian.

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company Pte. Ltd.

- **b. Street 1:** 1 George Street #23-01

- **c. City:** Singapore

- **f. Zip code and zip code extension, or foreign postal code:** 049145

- **g. Telephone number:** 65-6428-3600

- **h. Briefly describe the books and records kept at this location:** Records related to its function as sub-advisor.

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** Franklin Templeton Investor Services, LLC

- **b. Street 1:** 3344 Quality Drive

- **c. City:** Rancho Cordova

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 95670

- **g. Telephone number:** 1-916-463-2075

- **h. Briefly describe the books and records kept at this location:** Records related to its function as transfer agent.

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company, LLC

- **b. Street 1:** 385 East Colorado Boulevard

- **c. City:** Pasadena

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 91101

- **g. Telephone number:** 1-626-844-9400

- **h. Briefly describe the books and records kept at this location:** Records related to its function as sub-advisor.

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** Western Asset Funds Inc

- **b. Street 1:** 100 International Drive

- **c. City:** Baltimore

- **d. State, if applicable:** MD

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 21202

- **g. Telephone number:** 1-410-539-0000

- **h. Briefly describe the books and records kept at this location:** Records related to its function as registrant.

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** BNY Mellon Investment Servicing (US) Inc.

- **b. Street 1:** 301 Bellevue Parkway

- **c. City:** Wilmington

- **d. State, if applicable:** DE

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 19809

- **g. Telephone number:** 1-302-791-1700

- **h. Briefly describe the books and records kept at this location:** Records related to its function as transfer agent.

**Location books Record: 8**

- **a. Name of person (e.g., a custodian of records):** Franklin Distributors LLC

- **b. Street 1:** 100 International Drive

- **c. City:** Baltimore

- **d. State, if applicable:** MD

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 21202

- **g. Telephone number:** 1-800-822-5544

- **h. Briefly describe the books and records kept at this location:** Records related to its function as distributor.

**Location books Record: 9**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company Ltd.

- **b. Street 1:** 5-1 Marunouchi

- **Street 2:** 1-Chome Chiyoda-Ku

- **c. City:** Tokyo

- **f. Zip code and zip code extension, or foreign postal code:** 100-6536

- **g. Telephone number:** 81-03-4520-4300

- **h. Briefly describe the books and records kept at this location:** Records related to its function as sub-advisor.

**Location books Record: 10**

- **a. Name of person (e.g., a custodian of records):** Legg Mason Partners Fund Advisor, LLC

- **b. Street 1:** 280 Park Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10017

- **g. Telephone number:** 1-305-529-4400

- **h. Briefly describe the books and records kept at this location:** Records related to its function as advisor.

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** FRANKLIN TEMPLETON

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 7

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                     | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                                                                                                                                                                     |
|:---|:---|:---|
| Peter J. Taylor          | No                      | 811-06310, 811-06740, 811-21403, 811-04254, 811-02351, 811-21477, 811-10603, 811-10407, 811-04052, 811-05812                                                                                                                                                                                                                                                              |
| Jane Trust               | Yes                     | 811-06740, 811-21403, 811-05497, 811-07920, 811-08709, 811-06506, 811-06310, 811-02351, 811-22444, 811-10407, 811-21467, 811-22294, 811-21343, 811-22405, 811-22491, 811-23408, 811-22693, 811-06444, 811-10603, 811-22369, 811-06629, 811-04052, 811-04254, 811-07362, 811-21477, 811-22582, 811-22338, 811-05812, 811-22334, 811-22546, 811-23598, 811-21337, 811-21128 |
| Michael Larson           | No                      | 811-02351, 811-04052, 811-06740, 811-04254, 811-10407, 811-21477, 811-21403, 811-06310, 811-05812, 811-10603                                                                                                                                                                                                                                                              |
| Susan B. Kerley          | No                      | 811-10407, 811-06310, 811-04550, 811-03833-01, 811-21403, 811-22321, 811-21477, 811-10603, 811-02351, 811-04254, 811-06740, 811-04052, 811-22551, 811-05812                                                                                                                                                                                                               |
| Robert Abeles, Jr.       | No                      | 811-02351, 811-10407, 811-04052, 811-21477, 811-21403, 811-05812, 811-06740, 811-06310, 811-10603, 811-04254                                                                                                                                                                                                                                                              |
| Avedick B. Poladian      | No                      | 811-04052, 811-04254, 811-21403, 811-05812, 811-10407, 811-21477, 811-02351, 811-06310, 811-10603, 811-06740                                                                                                                                                                                                                                                              |
| William E. B. Siart      | No                      | 811-21477, 811-10603, 811-02351, 811-04052, 811-05812, 811-10407, 811-06740, 811-04254, 811-21403, 811-06310                                                                                                                                                                                                                                                              |
| Ronald L. Olson          | Yes                     | 811-05812, 811-06310, 811-10603, 811-21477, 811-02351, 811-10407, 811-04254, 811-06740, 811-04052, 811-21403                                                                                                                                                                                                                                                              |
| Jane F. Dasher           | No                      | 811-10603, 811-06740, 811-04254, 811-21403, 811-05812, 811-02351, 811-06310, 811-21477, 811-10407, 811-04052                                                                                                                                                                                                                                                              |
| Jaynie Miller Studenmund | No                      | 811-10407, 811-06740, 811-06310, 811-10603, 811-04052, 811-02351, 811-21403, 811-05812, 811-04254, 811-21477                                                                                                                                                                                                                                                              |
| Anita L. DeFrantz        | No                      | 811-02351, 811-05812, 811-06310, 811-10603, 811-21477, 811-06740, 811-10407, 811-04254, 811-21403, 811-04052                                                                                                                                                                                                                                                              |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** Ted P. Becker

- **b. CRD Number, if any:** N/A

- **c. Street Address 1:** 280 Park Avenue

- **   Street Address 2:** 8th Floor

- **d. City:** New York

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 10017

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-19023

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** Franklin Distributors, LLC

- **ii. SEC file number:** 008-53089

- **iii. CRD number:** 000109064

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** MD

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** No

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PricewaterhouseCoopers LLP

- **b. PCAOB Number:** 238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

- **d. State, if applicable:** MD

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.23 - Did the Registrant pay any dividend or make any distribution required to be accompanied by a written statement?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Western Asset Core Plus Bond Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Western Asset Core Plus Bond Fund

- **b. Series identification number, if any:** S000000714

- **c. LEI:** 549300M92SFKO7RZX103

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 7

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class C1                | C000117035                                | LWCPX                        |
|                           2 | Class A                 | C000113704                                | WAPAX                        |
|                           3 | Class R                 | C000113706                                | WAPRX                        |
|                           4 | Class I                 | C000002081                                | WACPX                        |
|                           5 | Class FI                | C000002082                                | WACIX                        |
|                           6 | Class IS                | C000066989                                | WAPSX                        |
|                           7 | Class C                 | C000113705                                | WAPCX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 18f-4(e) (17 CFR 270.18f-4(e))

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** Yes

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Western Asset Management Company Pte. Ltd.

- **ii. SEC file number:** 801-67298

- **iii. CRD number:** 000142188

- **iv. LEI, if any:** 549300GGQQAH8OMMCX51

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** SG

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Western Asset Management Company Ltd

- **ii. SEC file number:** 801-68224

- **iii. CRD number:** 000143388

- **iv. LEI, if any:** 549300ILBTC2ZDZBT448

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** JP

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 3**

- **i. Full name:** Western Asset Management Company Limited

- **ii. SEC file number:** 801-21068

- **iii. CRD number:** 000110427

- **iv. LEI, if any:** 549300IVCLHPHPOYT226

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 4**

- **i. Full name:** Western Asset Management Company, LLC

- **ii. SEC file number:** 801-08162

- **iii. CRD number:** 000110441

- **iv. LEI, if any:** 549300C5A561UXUICN46

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv Benchmark Services Limited

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** Bank of America Merill Lynch PriceServe

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 6**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 7**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 8**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 9**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** Yes

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 4**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 008-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $388,088.87

**Brokers Record: 2**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,190,824.07

**Brokers Record: 3**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $772,872.66

**Brokers Record: 4**

- **i. Full name of broker:** JEFFERIES LLC

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,191,066.64

**Brokers Record: 5**

- **i. Full name of broker:** Marex North America Securities LLC

- **ii. SEC file number:** 008-70580

- **iii. CRD number:** 000307508

- **iv. LEI, if any:** 984500E3F678110C8570

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $439,677.46

**Brokers Record: 6**

- **i. Full name of broker:** CitiGroup Global Markets Inc.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $823,771.42

**Brokers Record: 7**

- **i. Full name of broker:** Merrill Lynch Professional Clearing Corp.

- **ii. SEC file number:** 008-33359

- **iii. CRD number:** 000016139

- **iv. LEI, if any:** 549300PMHS66E71I2D34

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,139,707.69

**Brokers Record: 8**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $295,217.51

**Brokers Record: 9**

- **i. Full name of broker:** WELLS FARGO SECURITIES, LLC

- **ii. SEC file number:** 008-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,081,222.22

**Brokers Record: 10**

- **i. Full name of broker:** R.J. O'Brien Securities, LLC

- **ii. SEC file number:** 008-67587

- **iii. CRD number:** 000143624

- **iv. LEI, if any:** 549300BSZNPQJNYIAD03

- **v. State, if applicable:** IL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,410,479.27

**Aggregate Commission:** $11,165,354.44

**Item C.17.a. Principal transaction counterparties.**

| Name                                      | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| MORGAN STANLEY & CO. LLC                  | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $7,211,790,982.84         |
| J.P. Morgan Securities LLC                | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $17,110,699,964.08        |
| CREDIT SUISSE SECURITIES (USA) LLC        | 008-00422         |    000000816 | 1V8Y6QCX6YMJ2OELII46 | NY      | US        | $1,821,013,195.96         |
| GOLDMAN SACHS & CO. LLC                   | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $9,879,295,658.68         |
| BMO CAPITAL MARKETS CORP.                 | 008-34344         |    000016686 | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $1,071,161,787.45         |
| WELLS FARGO SECURITIES, LLC               | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $4,099,132,319.93         |
| CitiGroup Global Markets Inc.             | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $10,008,626,618.16        |
| Merrill Lynch Professional Clearing Corp. | 008-33359         |    000016139 | 549300PMHS66E71I2D34 | NY      | US        | $6,206,062,188.87         |
| BNP PARIBAS SECURITIES CORP.              | 008-32682         |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $1,757,017,023.48         |
| NOMURA SECURITIES INTERNATIONAL, INC.     | 008-15255         |    000004297 | OXTKY6Q8X53C9ILVV871 | NY      | US        | $1,590,134,754.90         |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $67,023,629,315.99

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $32,976,921,044.78

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 2 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 4 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 5 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 7 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 10 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 11 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 13 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 14 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 15 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 16 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 17 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 18 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 19 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 20 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Templeton Global Bond Fund                                     | 811-04706         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Franklin Income VIP Fund                                       | 811-05583         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Total Return Fund                                     | 811-04986         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Templeton Foreign Fund                                         | 811-02781         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| ClearBridge Select Fund                                        | 811-06444         |
| ClearBridge Value Trust                                        | 811-22338         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Templeton Global Total Return Fund                             | 811-04706         |
| International Equity Series                                    | 811-06135         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Utilities Fund                                        | 811-00537         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin High Income Fund                                      | 811-01608         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 2 - Western Asset Inflation Indexed Plus Bond Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Western Asset Inflation Indexed Plus Bond Fund

- **b. Series identification number, if any:** S000000715

- **c. LEI:** 54930060PJLL6R7TJG35

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 7

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class FI                | C000002083                                | WATPX                        |
|                           2 | Class C1                | C000117036                                | LWICX                        |
|                           3 | Class C                 | C000113708                                | WAFCX                        |
|                           4 | Class I                 | C000002084                                | WAIIX                        |
|                           5 | Class R                 | C000113709                                | WAFRX                        |
|                           6 | Class A                 | C000113707                                | WAFAX                        |
|                           7 | Class IS                | C000066990                                | WAFSX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** Yes

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Western Asset Management Company Ltd

- **ii. SEC file number:** 801-68224

- **iii. CRD number:** 000143388

- **iv. LEI, if any:** 549300ILBTC2ZDZBT448

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** JP

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Western Asset Management Company, LLC

- **ii. SEC file number:** 801-08162

- **iii. CRD number:** 000110441

- **iv. LEI, if any:** 549300C5A561UXUICN46

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 3**

- **i. Full name:** Western Asset Management Company Pte. Ltd.

- **ii. SEC file number:** 801-67298

- **iii. CRD number:** 000142188

- **iv. LEI, if any:** 549300GGQQAH8OMMCX51

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** SG

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 4**

- **i. Full name:** Western Asset Management Company Limited

- **ii. SEC file number:** 801-21068

- **iii. CRD number:** 000110427

- **iv. LEI, if any:** 549300IVCLHPHPOYT226

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bank of America Merill Lynch PriceServe

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 6**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 7**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 8**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 9**

- **i. Full name:** Refinitiv Benchmark Services Limited

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** Yes

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 4**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 008-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** CITIGROUP GLOBAL MARKETS INC.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $140.13

**Brokers Record: 2**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $13.84

**Brokers Record: 3**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $13.84

**Brokers Record: 4**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $654.34

**Brokers Record: 5**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $24.22

**Brokers Record: 6**

- **i. Full name of broker:** BNP Paribas Securities Corp.

- **ii. SEC file number:** 008-32682

- **iii. CRD number:** 000015794

- **iv. LEI, if any:** RCNB6OTYUAMMP879YW96

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10.38

**Brokers Record: 7**

- **i. Full name of broker:** Marex North America Securities LLC

- **ii. SEC file number:** 008-70580

- **iii. CRD number:** 000307508

- **iv. LEI, if any:** 984500E3F678110C8570

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10.38

**Brokers Record: 8**

- **i. Full name of broker:** JEFFERIES LLC

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $762.55

**Brokers Record: 9**

- **i. Full name of broker:** MERRILL LYNCH PROFESSIONAL CLEARING CORP.

- **ii. SEC file number:** 008-33359

- **iii. CRD number:** 000016139

- **iv. LEI, if any:** 549300PMHS66E71I2D34

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $144.80

**Brokers Record: 10**

- **i. Full name of broker:** R.J. O'Brien Securities, LLC

- **ii. SEC file number:** 008-67587

- **iii. CRD number:** 000143624

- **iv. LEI, if any:** 549300BSZNPQJNYIAD03

- **v. State, if applicable:** IL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $31.14

**Aggregate Commission:** $1,819.46

**Item C.17.a. Principal transaction counterparties.**

| Name                                      | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| JEFFERIES LLC                             | 008-15074         |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $3,639,946.99             |
| J.P. Morgan Securities LLC                | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $19,270,000.21            |
| CITADEL CLEARING LLC                      | 008-69521         |    000172693 | 5493001I7IJ4CW6Q9N27 | IL      | US        | $2,700,814.98             |
| MORGAN STANLEY & CO. LLC                  | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $11,436,462.28            |
| WELLS FARGO SECURITIES, LLC               | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $6,157,234.76             |
| Goldman Sachs & Co. LLC                   | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $814,431.81               |
| UBS SECURITIES LLC                        | 008-22651         |    000007654 | T6FIZBDPKLYJKFCRVK44 | NY      | US        | $6,537,509.45             |
| CitiGroup Global Markets Inc.             | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $19,684,116.24            |
| BMO CAPITAL MARKETS CORP.                 | 008-34344         |    000016686 | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $2,862,131.36             |
| Merrill Lynch Professional Clearing Corp. | 008-33359         |    000016139 | 549300PMHS66E71I2D34 | NY      | US        | $4,403,067.25             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $79,251,744.86

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $103,095,478.69

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 2 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 3 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 4 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 5 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 7 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 8 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 10 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 11 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 12 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 13 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 14 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 15 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 16 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 18 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 19 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 20 Name of institution:** CITIBANK, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Western Asset Income Fund                                      | 811-04254         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin High Income Fund                                      | 811-01608         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin International Small Cap Fund                          | 811-10157         |
| ClearBridge Value Trust                                        | 811-22338         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Utilities Fund                                        | 811-00537         |
| ClearBridge International Growth Fund                          | 811-22338         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Total Return ETF                                 | 811-23096         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Templeton Foreign Fund                                         | 811-02781         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Templeton International Bond Fund                              | 811-04706         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| International Equity Series                                    | 811-06135         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Income Fund                                           | 811-00537         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 3 - Western Asset Core Bond Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Western Asset Core Bond Fund

- **b. Series identification number, if any:** S000000713

- **c. LEI:** 549300Q2LEO7M5HGWP70

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 7

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Class FI                | C000002080                                | WAPIX                        |
|                           2 | Class C                 | C000113702                                | WABCX                        |
|                           3 | Class IS                | C000066988                                | WACSX                        |
|                           4 | Class C1                | C000117034                                | LWACX                        |
|                           5 | Class I                 | C000002079                                | WATFX                        |
|                           6 | Class A                 | C000113701                                | WABAX                        |
|                           7 | Class R                 | C000113703                                | WABRX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 12d1-1 (17 CFR 270.12d1-1)

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 22d-1 (17 CFR 270.22d-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** Yes

- **d. Were any expenses previously waived recouped during the period?** Yes

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Western Asset Management Company Limited

- **ii. SEC file number:** 801-21068

- **iii. CRD number:** 000110427

- **iv. LEI, if any:** 549300IVCLHPHPOYT226

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Western Asset Management Company, LLC

- **ii. SEC file number:** 801-08162

- **iii. CRD number:** 000110441

- **iv. LEI, if any:** 549300C5A561UXUICN46

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

- **iv. State, if applicable:** MA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** No

- **vii. Is the transfer agent a sub-transfer agent?:** No

**Transfer Agents Record: 2**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** Yes

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 6**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 7**

- **i. Full name:** Bank of America Merill Lynch PriceServe

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 8**

- **i. Full name:** Refinitiv Benchmark Services Limited

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 9**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** 084-01036

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** Yes

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 4**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 008-43206

- **c. CRD number:** 000027884

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** Merrill Lynch Professional Clearing Corp.

- **ii. SEC file number:** 008-33359

- **iii. CRD number:** 000016139

- **iv. LEI, if any:** 549300PMHS66E71I2D34

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $487,371.31

**Brokers Record: 2**

- **i. Full name of broker:** Marex North America Securities LLC

- **ii. SEC file number:** 008-70580

- **iii. CRD number:** 000307508

- **iv. LEI, if any:** 984500E3F678110C8570

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $69,253.63

**Brokers Record: 3**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $399,917.28

**Brokers Record: 4**

- **i. Full name of broker:** CitiGroup Global Markets Inc.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $344,370.20

**Brokers Record: 5**

- **i. Full name of broker:** R.J. O'Brien Securities, LLC

- **ii. SEC file number:** 008-67587

- **iii. CRD number:** 000143624

- **iv. LEI, if any:** 549300BSZNPQJNYIAD03

- **v. State, if applicable:** IL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,198,025.18

**Brokers Record: 6**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $499,959.65

**Brokers Record: 7**

- **i. Full name of broker:** J.P. Morgan Securities LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $202,217.99

**Brokers Record: 8**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $112,427.00

**Brokers Record: 9**

- **i. Full name of broker:** WELLS FARGO SECURITIES, LLC

- **ii. SEC file number:** 008-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $461,388.97

**Brokers Record: 10**

- **i. Full name of broker:** JEFFERIES LLC

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $948,088.40

**Aggregate Commission:** $4,881,753.97

**Item C.17.a. Principal transaction counterparties.**

| Name                                      | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| CITADEL CLEARING LLC                      | 008-69521         |    000172693 | 5493001I7IJ4CW6Q9N27 | IL      | US        | $1,136,491,174.31         |
| BMO CAPITAL MARKETS CORP.                 | 008-34344         |    000016686 | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $638,471,683.66           |
| Goldman Sachs & Co. LLC                   | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $5,311,814,177.61         |
| Merrill Lynch Professional Clearing Corp. | 008-33359         |    000016139 | 549300PMHS66E71I2D34 | NY      | US        | $2,464,100,210.34         |
| NOMURA SECURITIES INTERNATIONAL, INC.     | 008-15255         |    000004297 | OXTKY6Q8X53C9ILVV871 | NY      | US        | $535,767,710.89           |
| WELLS FARGO SECURITIES, LLC               | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $2,847,181,641.38         |
| CREDIT SUISSE SECURITIES (USA) LLC        | 008-00422         |    000000816 | 1V8Y6QCX6YMJ2OELII46 | NY      | US        | $955,821,740.73           |
| CitiGroup Global Markets Inc.             | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $4,285,426,550.51         |
| J.P. Morgan Securities LLC                | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $10,148,613,571.05        |
| MORGAN STANLEY & CO. LLC                  | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $4,556,128,542.68         |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $35,586,080,952.49

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $16,654,179,528.07

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,675,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 2 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 3 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 4 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 5 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 6 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 7 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 8 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 10 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 11 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 12 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 13 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 14 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 15 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 17 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 18 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 19 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 20 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                   | SEC File number   |
|:---|:---|
| Franklin Moderate Allocation Fund                              | 811-07851         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Templeton World Fund                                           | 811-02781         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Western Asset California Municipals Fund                       | 811-04254         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Income Fund                                           | 811-00537         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Natural Resources Fund                                | 811-06243         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Templeton China World Fund                                     | 811-07876         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| International Equity Series                                    | 811-06135         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Templeton Foreign Fund                                         | 811-02781         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Templeton International Bond Fund                              | 811-04706         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| ClearBridge International Value Fund                           | 811-06444         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** Western Asset Funds Inc

**Date:** 2023-03-10

**Signature:** Christopher Berarducci

**Title:** Principal Financial Officer and Treasurer