# EDGAR Filing Document

**Accession Number:** 0000880366
**File Stem:** 0000940400-25-010357
**Filing Date:** 2025-11
**Character Count:** 194502
**Document Hash:** 8b179c1a3a309d534d077d97d48d6ea0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-010357.hdr.sgml**: 20251125

**ACCESSION NUMBER**: 0000940400-25-010357

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251125

**DATE AS OF CHANGE**: 20251125

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEGG MASON PARTNERS INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000880366

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06444
- **FILM NUMBER:** 251519285

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

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

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEGG MASON PARTNERS EQUITY TRUST
- **DATE OF NAME CHANGE:** 20070412

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEGG MASON PARTNERS INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 20060407

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19950831

## Series and Classes Contracts Data

### BrandywineGLOBAL - HIGH YIELD FUND (Series ID: S000071892)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000227482 | Class C      | BGHCX           |
| C000227484 | Class I      | BGHIX           |
| C000227485 | Class IS     | BGHSX           |
| C000227486 | Class A      | BGHAX           |

## Nport-Ex

Schedule of Investments (unaudited)

September 30, 2025

 **BrandywineGLOBAL — High Yield Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity <br>Date<br>| Face <br>Amount<br>| Value |
| **Corporate Bonds & Notes — 85.1%** | **Corporate Bonds & Notes — 85.1%** | **Corporate Bonds & Notes — 85.1%** | **Corporate Bonds & Notes — 85.1%** | **Corporate Bonds & Notes — 85.1%** |
| **Communication Services — 7.6%** | **Communication Services — 7.6%** | **Communication Services — 7.6%** | **Communication Services — 7.6%** | **Communication Services — 7.6%** |
| *Diversified Telecommunication Services — 1.5%* | *Diversified Telecommunication Services — 1.5%* | *Diversified Telecommunication Services — 1.5%* | *Diversified Telecommunication Services — 1.5%* | *Diversified Telecommunication Services — 1.5%* |
| &nbsp;&nbsp;&nbsp; Altice France SA, Senior Secured Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 2/1/27 | &nbsp;&nbsp; $12915000<br>| &nbsp;&nbsp;&nbsp; $12355977<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cogent Communications Group LLC/Cogent Finance Inc., Senior <br> Secured Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp; 44877000<br>| &nbsp;&nbsp;&nbsp; 43653451<br> <sup>(a)</sup><br>|
| *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | *Total Diversified Telecommunication Services* | &nbsp;&nbsp; *56009428* |
| *Entertainment — 2.1%* | *Entertainment — 2.1%* | *Entertainment — 2.1%* | *Entertainment — 2.1%* | *Entertainment — 2.1%* |
| &nbsp;&nbsp;&nbsp; Flutter Treasury DAC, Senior Secured Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 6/4/31 | &nbsp;&nbsp; 29691000<br>| &nbsp;&nbsp;&nbsp; 30156704<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Go Daddy Operating Co. LLC/GD Finance Co. Inc., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 12/1/27 | &nbsp;&nbsp; 3534000<br>| &nbsp;&nbsp;&nbsp; 3531891<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment Inc., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 3/15/26 | &nbsp;&nbsp; 6921000<br>| &nbsp;&nbsp;&nbsp; 6926938<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment Inc., Senior Secured Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 5/15/27 | &nbsp;&nbsp; 32711000<br>| &nbsp;&nbsp;&nbsp; 33041247<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Live Nation Entertainment Inc., Senior Secured Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 5000000<br>| &nbsp;&nbsp;&nbsp; 4890784<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ROBLOX Corp., Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 5/1/30 | &nbsp;&nbsp; 543000<br>| &nbsp;&nbsp;&nbsp; 518421<br> <sup>(a)</sup><br>|
| *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | *Total Entertainment* | &nbsp;&nbsp; *79065985* |
| *Interactive Media & Services — 2.8%* | *Interactive Media & Services — 2.8%* | *Interactive Media & Services — 2.8%* | *Interactive Media & Services — 2.8%* | *Interactive Media & Services — 2.8%* |
| &nbsp;&nbsp;&nbsp; ANGI Group LLC, Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 36795000<br>| &nbsp;&nbsp;&nbsp; 34614896<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; GrubHub Holdings Inc., Senior Secured Notes (6.000% Cash and <br> 7.00% PIK) | &nbsp;&nbsp; 13.000% | &nbsp;&nbsp; 7/31/30 | &nbsp;&nbsp; 40223475<br>| &nbsp;&nbsp;&nbsp; 40345744<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZipRecruiter Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 32624000<br>| &nbsp;&nbsp;&nbsp; 26293610<br> <sup>(a)</sup><br>|
| *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | *Total Interactive Media & Services* | &nbsp;&nbsp; *101254250* |
| *Media — 1.2%* | *Media — 1.2%* | *Media — 1.2%* | *Media — 1.2%* | *Media — 1.2%* |
| &nbsp;&nbsp;&nbsp; Cable One Inc., Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/15/30 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 1696461<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Charter Communications Operating LLC/Charter Communications <br> Operating Capital Corp., Senior Secured Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 4/1/48 | &nbsp;&nbsp; 19146000<br>| &nbsp;&nbsp;&nbsp; 17365789<br>|
| &nbsp;&nbsp;&nbsp; LCPR Senior Secured Financing DAC, Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 37406000<br>| &nbsp;&nbsp;&nbsp; 22429001<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Liberty Interactive LLC, Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 7/15/29 | &nbsp;&nbsp; 12681000<br>| &nbsp;&nbsp;&nbsp; 2076514<br>|
| &nbsp;&nbsp;&nbsp; Liberty Interactive LLC, Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 7180000<br>| &nbsp;&nbsp;&nbsp; 1005200<br>|
| *Total Media* | *Total Media* | *Total Media* | *Total Media* | &nbsp;&nbsp; *44572965* |
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **280902628** |
| **Consumer Discretionary — 14.6%** | **Consumer Discretionary — 14.6%** | **Consumer Discretionary — 14.6%** | **Consumer Discretionary — 14.6%** | **Consumer Discretionary — 14.6%** |
| *Automobile Components — 1.2%* | *Automobile Components — 1.2%* | *Automobile Components — 1.2%* | *Automobile Components — 1.2%* | *Automobile Components — 1.2%* |
| &nbsp;&nbsp;&nbsp; Phinia Inc., Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 10/15/32 | &nbsp;&nbsp; 7805000<br>| &nbsp;&nbsp;&nbsp; 8050998<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZF North America Capital Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 4/23/30 | &nbsp;&nbsp; 38389000<br>| &nbsp;&nbsp;&nbsp; 37491630<br> <sup>(a)</sup><br>|
| *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | *Total Automobile Components* | &nbsp;&nbsp; *45542628* |
| *Automobiles — 0.3%* | *Automobiles — 0.3%* | *Automobiles — 0.3%* | *Automobiles — 0.3%* | *Automobiles — 0.3%* |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC, Senior Notes | &nbsp;&nbsp; 3.375% | &nbsp;&nbsp; 11/13/25 | &nbsp;&nbsp; 925000<br>| &nbsp;&nbsp;&nbsp; 923335<br>|
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC, Senior Notes | &nbsp;&nbsp; 6.950% | &nbsp;&nbsp; 3/6/26 | &nbsp;&nbsp; 2620000<br>| &nbsp;&nbsp;&nbsp; 2641159<br>|
| &nbsp;&nbsp;&nbsp; Winnebago Industries Inc., Senior Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 7/15/28 | &nbsp;&nbsp; 9553000<br>| &nbsp;&nbsp;&nbsp; 9547719<br> <sup>(a)</sup><br>|
| *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | &nbsp;&nbsp; *13112213* |
| *Broadline Retail — 0.7%* | *Broadline Retail — 0.7%* | *Broadline Retail — 0.7%* | *Broadline Retail — 0.7%* | *Broadline Retail — 0.7%* |
| &nbsp;&nbsp;&nbsp; MercadoLibre Inc., Senior Notes | &nbsp;&nbsp; 2.375% | &nbsp;&nbsp; 1/14/26 | &nbsp;&nbsp; 2400000<br>| &nbsp;&nbsp;&nbsp; 2381963<br>|
| &nbsp;&nbsp;&nbsp; QVC Inc., Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 3692000<br>| &nbsp;&nbsp;&nbsp; 2013914<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; QVC Inc., Senior Secured Notes | &nbsp;&nbsp; 5.450% | &nbsp;&nbsp; 8/15/34 | &nbsp;&nbsp; 40330000<br>| &nbsp;&nbsp;&nbsp; 21531743<br>|
| *Total Broadline Retail* | *Total Broadline Retail* | *Total Broadline Retail* | *Total Broadline Retail* | &nbsp;&nbsp; *25927620* |
| *Diversified Consumer Services — 1.1%* | *Diversified Consumer Services — 1.1%* | *Diversified Consumer Services — 1.1%* | *Diversified Consumer Services — 1.1%* | *Diversified Consumer Services — 1.1%* |
| &nbsp;&nbsp;&nbsp; Adtalem Global Education Inc., Senior Secured Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 3/1/28 | &nbsp;&nbsp; 17276000<br>| &nbsp;&nbsp;&nbsp; 17233406<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

September 30, 2025

 **BrandywineGLOBAL — High Yield Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Diversified Consumer Services — continued* | *Diversified Consumer Services — continued* | *Diversified Consumer Services — continued* | *Diversified Consumer Services — continued* | *Diversified Consumer Services — continued* |
| &nbsp;&nbsp;&nbsp; Graham Holdings Co., Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 6/1/26 | &nbsp;&nbsp; $22837000<br>| &nbsp;&nbsp;&nbsp; $22853728<br> <sup>(a)</sup><br>|
| *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | *Total Diversified Consumer Services* | &nbsp;&nbsp; *40087134* |
| *Hotels, Restaurants & Leisure — 6.7%* | *Hotels, Restaurants & Leisure — 6.7%* | *Hotels, Restaurants & Leisure — 6.7%* | *Hotels, Restaurants & Leisure — 6.7%* | *Hotels, Restaurants & Leisure — 6.7%* |
| &nbsp;&nbsp;&nbsp; Affinity Interactive, Senior Secured Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 12/15/27 | &nbsp;&nbsp; 48089000<br>| &nbsp;&nbsp;&nbsp; 27597075<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Allwyn Entertainment Financing UK PLC, Senior Secured Notes | &nbsp;&nbsp; 7.875% | &nbsp;&nbsp; 4/30/29 | &nbsp;&nbsp; 36896000<br>| &nbsp;&nbsp;&nbsp; 38310859<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Brightstar Lottery PLC, Senior Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 1/15/27 | &nbsp;&nbsp; 8389000<br>| &nbsp;&nbsp;&nbsp; 8473427<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Lindblad Expeditions LLC, Senior Secured Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 9/15/30 | &nbsp;&nbsp; 10500000<br>| &nbsp;&nbsp;&nbsp; 10709108<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Midwest Gaming Borrower LLC/Midwest Gaming Finance Corp., <br> Senior Secured Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 18291000<br>| &nbsp;&nbsp;&nbsp; 17792943<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; NCL Corp. Ltd., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 7575000<br>| &nbsp;&nbsp;&nbsp; 7580170<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Lender LLC/Rivers Enterprise Lender Corp., Senior <br> Secured Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 5000000<br>| &nbsp;&nbsp;&nbsp; 5047707<br> <sup>(a)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Royal Caribbean Cruises Ltd., Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 8/31/26 | &nbsp;&nbsp; 1134000<br>| &nbsp;&nbsp;&nbsp; 1138880<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Travel + Leisure Co., Senior Secured Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 7/31/26 | &nbsp;&nbsp; 34947000<br>| &nbsp;&nbsp;&nbsp; 35228848<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Vail Resorts Inc., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp; 15098000<br>| &nbsp;&nbsp;&nbsp; 15201799<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 9/15/27 | &nbsp;&nbsp; 17145000<br>| &nbsp;&nbsp;&nbsp; 17162899<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 16290000<br>| &nbsp;&nbsp;&nbsp; 16383065<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viking Cruises Ltd., Senior Notes | &nbsp;&nbsp; 9.125% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 22333000<br>| &nbsp;&nbsp;&nbsp; 23986870<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; VOC Escrow Ltd., Senior Secured Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/28 | &nbsp;&nbsp; 21639000<br>| &nbsp;&nbsp;&nbsp; 21596034<br> <sup>(a)</sup><br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *246209684* |
| *Household Durables — 2.0%* | *Household Durables — 2.0%* | *Household Durables — 2.0%* | *Household Durables — 2.0%* | *Household Durables — 2.0%* |
| &nbsp;&nbsp;&nbsp; Adams Homes Inc., Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 10/15/28 | &nbsp;&nbsp; 25446000<br>| &nbsp;&nbsp;&nbsp; 26640944<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Century Communities Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; 7517000<br>| &nbsp;&nbsp;&nbsp; 7519695<br>|
| &nbsp;&nbsp;&nbsp; Century Communities Inc., Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 626000<br>| &nbsp;&nbsp;&nbsp; 589475<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Century Communities Inc., Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 9/15/33 | &nbsp;&nbsp; 1825000<br>| &nbsp;&nbsp;&nbsp; 1842345<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dream Finders Homes Inc., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 26563000<br>| &nbsp;&nbsp;&nbsp; 27581957<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dream Finders Homes Inc., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 9/15/30 | &nbsp;&nbsp; 9400000<br>| &nbsp;&nbsp;&nbsp; 9464766<br> <sup>(a)</sup><br>|
| *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | &nbsp;&nbsp; *73639182* |
| *Specialty Retail — 2.2%* | *Specialty Retail — 2.2%* | *Specialty Retail — 2.2%* | *Specialty Retail — 2.2%* | *Specialty Retail — 2.2%* |
| &nbsp;&nbsp;&nbsp; Arko Corp., Senior Notes | &nbsp;&nbsp; 5.125% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; 32641000<br>| &nbsp;&nbsp;&nbsp; 27712995<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EG Global Finance PLC, Senior Secured Notes | &nbsp;&nbsp; 12.000% | &nbsp;&nbsp; 11/30/28 | &nbsp;&nbsp; 29633000<br>| &nbsp;&nbsp;&nbsp; 32590255<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Gap Inc., Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 10/1/31 | &nbsp;&nbsp; 22110000<br>| &nbsp;&nbsp;&nbsp; 20199955<br> <sup>(a)</sup><br>|
| *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | *Total Specialty Retail* | &nbsp;&nbsp; *80503205* |
| *Textiles, Apparel & Luxury Goods — 0.4%* | *Textiles, Apparel & Luxury Goods — 0.4%* | *Textiles, Apparel & Luxury Goods — 0.4%* | *Textiles, Apparel & Luxury Goods — 0.4%* | *Textiles, Apparel & Luxury Goods — 0.4%* |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC, Second Out Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 26310400<br>| &nbsp;&nbsp;&nbsp; 13681408<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC, Third Out Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 986640<br>| &nbsp;&nbsp;&nbsp; 360124<br> <sup>(a)</sup><br>|
| *Total Textiles, Apparel & Luxury Goods* | *Total Textiles, Apparel & Luxury Goods* | *Total Textiles, Apparel & Luxury Goods* | *Total Textiles, Apparel & Luxury Goods* | &nbsp;&nbsp; *14041532* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **539063198** |
| **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** | **Consumer Staples — 0.3%** |
| *Tobacco — 0.3%* | *Tobacco — 0.3%* | *Tobacco — 0.3%* | *Tobacco — 0.3%* | *Tobacco — 0.3%* |
| &nbsp;&nbsp;&nbsp; Turning Point Brands Inc., Senior Secured Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 3/15/32 | &nbsp;&nbsp; 8290000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **8793203**<br> <sup>(a)</sup><br>|
| **Energy — 10.6%** | **Energy — 10.6%** | **Energy — 10.6%** | **Energy — 10.6%** | **Energy — 10.6%** |
| *Energy Equipment & Services — 0.3%* | *Energy Equipment & Services — 0.3%* | *Energy Equipment & Services — 0.3%* | *Energy Equipment & Services — 0.3%* | *Energy Equipment & Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; WBI Operating LLC, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 11750000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *11750000*<br> <sup>(a)</sup><br>|
| *Oil, Gas & Consumable Fuels — 10.3%* | *Oil, Gas & Consumable Fuels — 10.3%* | *Oil, Gas & Consumable Fuels — 10.3%* | *Oil, Gas & Consumable Fuels — 10.3%* | *Oil, Gas & Consumable Fuels — 10.3%* |
| &nbsp;&nbsp;&nbsp; Baytex Energy Corp., Senior Notes | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 3/15/32 | &nbsp;&nbsp; 18699000<br>| &nbsp;&nbsp;&nbsp; 18321783<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

 **BrandywineGLOBAL — High Yield Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* |
| &nbsp;&nbsp;&nbsp; BKV Upstream Midstream LLC, Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; $7750000<br>| &nbsp;&nbsp;&nbsp; $7750316<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; California Resources Corp., Senior Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 2/1/26 | &nbsp;&nbsp; 4690000<br>| &nbsp;&nbsp;&nbsp; 4703169<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Chord Energy Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 7000000<br>| &nbsp;&nbsp;&nbsp; 6955636<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Civitas Resources Inc., Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 425498<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Coronado Finance Pty Ltd., Senior Secured Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 30965000<br>| &nbsp;&nbsp;&nbsp; 27287934<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Coterra Energy Operating Co., Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 2603000<br>| &nbsp;&nbsp;&nbsp; 2502435<br>|
| &nbsp;&nbsp;&nbsp; Ecopetrol SA, Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 5/28/45 | &nbsp;&nbsp; 22579000<br>| &nbsp;&nbsp;&nbsp; 17285647<br>|
| &nbsp;&nbsp;&nbsp; Energean Israel Finance Ltd., Senior Secured Notes | &nbsp;&nbsp; 5.375% | &nbsp;&nbsp; 3/30/28 | &nbsp;&nbsp; 14770000<br>| &nbsp;&nbsp;&nbsp; 14531188<br> <sup>(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Genesis Energy LP/Genesis Energy Finance Corp., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 2/1/28 | &nbsp;&nbsp; 5624000<br>| &nbsp;&nbsp;&nbsp; 5667918<br>|
| &nbsp;&nbsp;&nbsp; Howard Midstream Energy Partners LLC, Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 3000000<br>| &nbsp;&nbsp;&nbsp; 3060601<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Kraken Oil & Gas Partners LLC, Senior Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 17701000<br>| &nbsp;&nbsp;&nbsp; 17559327<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Magnolia Oil & Gas Operating LLC/Magnolia Oil & Gas Finance Corp., <br> Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 12/1/32 | &nbsp;&nbsp; 19663000<br>| &nbsp;&nbsp;&nbsp; 20193311<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 6.200% | &nbsp;&nbsp; 3/15/40 | &nbsp;&nbsp; 3949000<br>| &nbsp;&nbsp;&nbsp; 4016453<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 4.400% | &nbsp;&nbsp; 4/15/46 | &nbsp;&nbsp; 4780000<br>| &nbsp;&nbsp;&nbsp; 3753240<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 4.200% | &nbsp;&nbsp; 3/15/48 | &nbsp;&nbsp; 678000<br>| &nbsp;&nbsp;&nbsp; 500342<br>|
| &nbsp;&nbsp;&nbsp; PBF Holding Co. LLC/PBF Finance Corp., Senior Notes | &nbsp;&nbsp; 9.875% | &nbsp;&nbsp; 3/15/30 | &nbsp;&nbsp; 5816000<br>| &nbsp;&nbsp;&nbsp; 6100298<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 4/15/27 | &nbsp;&nbsp; 9017000<br>| &nbsp;&nbsp;&nbsp; 9163590<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos, Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 9/21/47 | &nbsp;&nbsp; 14090000<br>| &nbsp;&nbsp;&nbsp; 11637366<br>|
| &nbsp;&nbsp;&nbsp; Raizen Fuels Finance SA, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 7/8/32 | &nbsp;&nbsp; 6050000<br>| &nbsp;&nbsp;&nbsp; 5912362<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Raizen Fuels Finance SA, Senior Notes | &nbsp;&nbsp; 6.700% | &nbsp;&nbsp; 2/25/37 | &nbsp;&nbsp; 11470000<br>| &nbsp;&nbsp;&nbsp; 11154575<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, Senior Notes | &nbsp;&nbsp; 4.800% | &nbsp;&nbsp; 5/15/30 | &nbsp;&nbsp; 17229000<br>| &nbsp;&nbsp;&nbsp; 16834675<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Saturn Oil & Gas Inc., Senior Secured Notes | &nbsp;&nbsp; 9.625% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 54892000<br>| &nbsp;&nbsp;&nbsp; 56911331<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SM Energy Co., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 9/15/26 | &nbsp;&nbsp; 6051000<br>| &nbsp;&nbsp;&nbsp; 6053381<br>|
| &nbsp;&nbsp;&nbsp; SM Energy Co., Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 1/15/27 | &nbsp;&nbsp; 13169000<br>| &nbsp;&nbsp;&nbsp; 13174543<br>|
| &nbsp;&nbsp;&nbsp; SM Energy Co., Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 7/15/28 | &nbsp;&nbsp; 9025000<br>| &nbsp;&nbsp;&nbsp; 9090368<br>|
| &nbsp;&nbsp;&nbsp; Strathcona Resources Ltd., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 8/1/26 | &nbsp;&nbsp; 17703000<br>| &nbsp;&nbsp;&nbsp; 17727271<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Teine Energy Ltd., Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 20375000<br>| &nbsp;&nbsp;&nbsp; 20121309<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TGNR Intermediate Holdings LLC, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 10/15/29 | &nbsp;&nbsp; 18424000<br>| &nbsp;&nbsp;&nbsp; 18042982<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC, Senior Secured Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 8/15/29 | &nbsp;&nbsp; 8003000<br>| &nbsp;&nbsp;&nbsp; 7676322<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wildfire Intermediate Holdings LLC, Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 10/15/29 | &nbsp;&nbsp; 11502000<br>| &nbsp;&nbsp;&nbsp; 11650088<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Yinson Bergenia Production BV, Senior Secured Notes | &nbsp;&nbsp; 8.498% | &nbsp;&nbsp; 1/31/45 | &nbsp;&nbsp; 3850000<br>| &nbsp;&nbsp;&nbsp; 4136810<br> <sup>(a)</sup><br>|
| *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | *Total Oil, Gas & Consumable Fuels* | &nbsp;&nbsp; *379902069* |
| **Total Energy** | **Total Energy** | **Total Energy** | **Total Energy** | &nbsp;&nbsp; **391652069** |
| **Financials — 27.5%** | **Financials — 27.5%** | **Financials — 27.5%** | **Financials — 27.5%** | **Financials — 27.5%** |
| *Banks — 4.2%* | *Banks — 4.2%* | *Banks — 4.2%* | *Banks — 4.2%* | *Banks — 4.2%* |
| &nbsp;&nbsp;&nbsp; Bank of America Corp., Junior Subordinated Notes (4.375% to 1/27/27 <br> then 5 year Treasury Constant Maturity Rate + 2.760%) | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 1/27/27 | &nbsp;&nbsp; 3500000<br>| &nbsp;&nbsp;&nbsp; 3446517<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Bank OZK, Subordinated Notes (2.750% to 10/1/26 then 3 mo. Term <br> SOFR + 2.090%) | &nbsp;&nbsp; 2.750% | &nbsp;&nbsp; 10/1/31 | &nbsp;&nbsp; 4350000<br>| &nbsp;&nbsp;&nbsp; 4055679<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Junior Subordinated Notes (3.875% to 2/18/26 then 5 <br> year Treasury Constant Maturity Rate + 3.417%) | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 2/18/26 | &nbsp;&nbsp; 43463000<br>| &nbsp;&nbsp;&nbsp; 43109511<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Junior Subordinated Notes (4.000% to 12/10/25 then 5 <br> year Treasury Constant Maturity Rate + 3.597%) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/10/25 | &nbsp;&nbsp; 4000000<br>| &nbsp;&nbsp;&nbsp; 3989309<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Home BancShares Inc., Subordinated Notes (3.125% to 1/30/27 then 3 <br> mo. Term SOFR + 1.820%) | &nbsp;&nbsp; 3.125% | &nbsp;&nbsp; 1/30/32 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 551896<br> <sup>(g)</sup><br>|

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

September 30, 2025

 **BrandywineGLOBAL — High Yield Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Banks — continued* | *Banks — continued* | *Banks — continued* | *Banks — continued* | *Banks — continued* |
| &nbsp;&nbsp;&nbsp; JPMorgan Chase & Co., Junior Subordinated Notes (3.650% to 6/1/26 <br> then 5 year Treasury Constant Maturity Rate + 2.850%) | &nbsp;&nbsp; 3.650% | &nbsp;&nbsp; 6/1/26 | &nbsp;&nbsp; $8340000<br>| &nbsp;&nbsp;&nbsp; $8258725<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group Inc., Junior Subordinated Notes (3.400% <br> to 9/15/26 then 5 year Treasury Constant Maturity Rate + 2.595%) | &nbsp;&nbsp; 3.400% | &nbsp;&nbsp; 9/15/26 | &nbsp;&nbsp; 10218000<br>| &nbsp;&nbsp;&nbsp; 9932691<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Popular Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 3/13/28 | &nbsp;&nbsp; 4463000<br>| &nbsp;&nbsp;&nbsp; 4666071<br>|
| &nbsp;&nbsp;&nbsp; Societe Generale SA, Senior Notes | &nbsp;&nbsp; 3.625% | &nbsp;&nbsp; 3/1/41 | &nbsp;&nbsp; 9075000<br>| &nbsp;&nbsp;&nbsp; 6801175<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Societe Generale SA, Senior Notes (4.027% to 1/21/42 then 1 year <br> Treasury Constant Maturity Rate + 1.900%) | &nbsp;&nbsp; 4.027% | &nbsp;&nbsp; 1/21/43 | &nbsp;&nbsp; 5225000<br>| &nbsp;&nbsp;&nbsp; 4067996<br> <sup>(a)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Societe Generale SA, Subordinated Notes | &nbsp;&nbsp; 7.367% | &nbsp;&nbsp; 1/10/53 | &nbsp;&nbsp; 10352000<br>| &nbsp;&nbsp;&nbsp; 11350836<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Texas Capital Bancshares Inc., Subordinated Notes (4.000% to 5/6/26 <br> then 5 year Treasury Constant Maturity Rate + 3.150%) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 5/6/31 | &nbsp;&nbsp; 13148000<br>| &nbsp;&nbsp;&nbsp; 12960688<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., Junior Subordinated Notes (3.900% to 3/15/26 <br> then 5 year Treasury Constant Maturity Rate + 3.453%) | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 3/15/26 | &nbsp;&nbsp; 14242000<br>| &nbsp;&nbsp;&nbsp; 14120566<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Western Alliance Bancorp, Subordinated Notes (3.000% to 6/15/26 <br> then 3 mo. Term SOFR + 2.250%) | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp; 26621000<br>| &nbsp;&nbsp;&nbsp; 25886260<br> <sup>(g)</sup><br>|
| *Total Banks* | *Total Banks* | *Total Banks* | *Total Banks* | &nbsp;&nbsp; *153197920* |
| *Capital Markets — 2.7%* | *Capital Markets — 2.7%* | *Capital Markets — 2.7%* | *Capital Markets — 2.7%* | *Capital Markets — 2.7%* |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp., Junior Subordinated Notes (3.750% to <br> 12/20/26 then 5 year Treasury Constant Maturity Rate + 2.630%) | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 12/20/26 | &nbsp;&nbsp; 7450000<br>| &nbsp;&nbsp;&nbsp; 7310152<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; BW Real Estate Inc., Senior Notes (9.500% to 3/30/30 then 5 year <br> Treasury Constant Maturity Rate + 5.402%) | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 3/30/30 | &nbsp;&nbsp; 10000000<br>| &nbsp;&nbsp;&nbsp; 10360890<br> <sup>(a)(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp., Junior Subordinated Notes (4.000% to 12/1/30 <br> then 10 year Treasury Constant Maturity Rate + 3.079%) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/30 | &nbsp;&nbsp; 26450000<br>| &nbsp;&nbsp;&nbsp; 24854610<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp., Junior Subordinated Notes (4.000% to 6/1/26 <br> then 5 year Treasury Constant Maturity Rate + 3.168%) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/26 | &nbsp;&nbsp; 8000000<br>| &nbsp;&nbsp;&nbsp; 7918848<br> <sup>(f)(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; CI Financial Corp., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 5/30/29 | &nbsp;&nbsp; 19922000<br>| &nbsp;&nbsp;&nbsp; 21240076<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jefferies Finance LLC/JFIN Co-Issuer Corp., Senior Secured Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 10/15/31 | &nbsp;&nbsp; 22348000<br>| &nbsp;&nbsp;&nbsp; 22514464<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Group AG, Junior Subordinated Notes (3.875% to 6/2/26 then 5 <br> year Treasury Constant Maturity Rate + 3.098%) | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 6/2/26 | &nbsp;&nbsp; 5551000<br>| &nbsp;&nbsp;&nbsp; 5482465<br> <sup>(a)(f)(g)</sup><br>|
| *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *99681505* |
| *Consumer Finance — 8.1%* | *Consumer Finance — 8.1%* | *Consumer Finance — 8.1%* | *Consumer Finance — 8.1%* | *Consumer Finance — 8.1%* |
| &nbsp;&nbsp;&nbsp; Atlanticus Holdings Corp., Senior Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 9/1/30 | &nbsp;&nbsp; 17725000<br>| &nbsp;&nbsp;&nbsp; 17627532<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp., Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 12/15/28 | &nbsp;&nbsp; 27029000<br>| &nbsp;&nbsp;&nbsp; 28431292<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Credit Acceptance Corp., Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 3/15/30 | &nbsp;&nbsp; 1500000<br>| &nbsp;&nbsp;&nbsp; 1505303<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Encore Capital Group Inc., Senior Secured Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 32769000<br>| &nbsp;&nbsp;&nbsp; 34617499<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Encore Capital Group Inc., Senior Secured Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 5/15/30 | &nbsp;&nbsp; 14441000<br>| &nbsp;&nbsp;&nbsp; 15347837<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Enova International Inc., Senior Notes | &nbsp;&nbsp; 11.250% | &nbsp;&nbsp; 12/15/28 | &nbsp;&nbsp; 44084000<br>| &nbsp;&nbsp;&nbsp; 46918425<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Enova International Inc., Senior Notes | &nbsp;&nbsp; 9.125% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 9551000<br>| &nbsp;&nbsp;&nbsp; 10038368<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; FirstCash Inc., Senior Notes | &nbsp;&nbsp; 5.625% | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 39083000<br>| &nbsp;&nbsp;&nbsp; 39058765<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; goeasy Ltd., Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 5/1/26 | &nbsp;&nbsp; 2708000<br>| &nbsp;&nbsp;&nbsp; 2667493<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; goeasy Ltd., Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 12/1/28 | &nbsp;&nbsp; 13815000<br>| &nbsp;&nbsp;&nbsp; 14428179<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; PRA Group Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 30225000<br>| &nbsp;&nbsp;&nbsp; 28093732<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; PROG Holdings Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; 61084000<br>| &nbsp;&nbsp;&nbsp; 60040380<br> <sup>(a)</sup><br>|
| *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | &nbsp;&nbsp; *298774805* |
| *Financial Services — 7.9%* | *Financial Services — 7.9%* | *Financial Services — 7.9%* | *Financial Services — 7.9%* | *Financial Services — 7.9%* |
| &nbsp;&nbsp;&nbsp; Block Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 2800000<br>| &nbsp;&nbsp;&nbsp; 2869216<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 4/15/28 | &nbsp;&nbsp; 5540000<br>| &nbsp;&nbsp;&nbsp; 5554371<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

 **BrandywineGLOBAL — High Yield Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Financial Services — continued* | *Financial Services — continued* | *Financial Services — continued* | *Financial Services — continued* | *Financial Services — continued* |
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC, Senior Notes | &nbsp;&nbsp; 6.875% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; $24552000<br>| &nbsp;&nbsp;&nbsp; $24700993<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC, Senior Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 7/1/31 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 531908<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Burford Capital Global Finance LLC, Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 7/15/33 | &nbsp;&nbsp; 5100000<br>| &nbsp;&nbsp;&nbsp; 5196135<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citadel Finance LLC, Senior Notes | &nbsp;&nbsp; 5.900% | &nbsp;&nbsp; 2/10/30 | &nbsp;&nbsp; 4100000<br>| &nbsp;&nbsp;&nbsp; 4161229<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Freedom Funding Center LLC 12 PIK 08/01/37 | &nbsp;&nbsp; 12.000% | &nbsp;&nbsp; 8/1/37 | &nbsp;&nbsp; 5000000<br>| &nbsp;&nbsp;&nbsp; 5000000<br> <sup>(h)</sup><br>|
| &nbsp;&nbsp;&nbsp; Freedom Mortgage Corp., Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 1/15/27 | &nbsp;&nbsp; 22878000<br>| &nbsp;&nbsp;&nbsp; 22846520<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Freedom Mortgage Corp., Senior Notes | &nbsp;&nbsp; 12.000% | &nbsp;&nbsp; 10/1/28 | &nbsp;&nbsp; 16147000<br>| &nbsp;&nbsp;&nbsp; 17115820<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance Inc., Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 4/30/31 | &nbsp;&nbsp; 2190000<br>| &nbsp;&nbsp;&nbsp; 2298793<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jefferson Capital Holdings LLC, Senior Notes | &nbsp;&nbsp; 9.500% | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 47171000<br>| &nbsp;&nbsp;&nbsp; 49851681<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Jefferson Capital Holdings LLC, Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 5/15/30 | &nbsp;&nbsp; 12950000<br>| &nbsp;&nbsp;&nbsp; 13554700<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/1/26 | &nbsp;&nbsp; 8000000<br>| &nbsp;&nbsp;&nbsp; 8000000<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings Inc., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 1/15/27 | &nbsp;&nbsp; 2771000<br>| &nbsp;&nbsp;&nbsp; 2771000<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings Inc., Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 10287000<br>| &nbsp;&nbsp;&nbsp; 10287000<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Provident Funding Associates LP/PFG Finance Corp., Senior Notes | &nbsp;&nbsp; 9.750% | &nbsp;&nbsp; 9/15/29 | &nbsp;&nbsp; 32833000<br>| &nbsp;&nbsp;&nbsp; 34720372<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC, Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 2801000<br>| &nbsp;&nbsp;&nbsp; 2734336<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SGUS LLC, Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 13057524<br>| &nbsp;&nbsp;&nbsp; 12439590<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 11/15/25 | &nbsp;&nbsp; 6500000<br>| &nbsp;&nbsp;&nbsp; 6501895<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC, Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp; 3664000<br>| &nbsp;&nbsp;&nbsp; 3664830<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 47560000<br>| &nbsp;&nbsp;&nbsp; 46944759<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; UWM Holdings LLC, Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 9000000<br>| &nbsp;&nbsp;&nbsp; 8962761<br> <sup>(a)</sup><br>|
| *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | *Total Financial Services* | &nbsp;&nbsp; *290707909* |
| *Insurance — 4.4%* | *Insurance — 4.4%* | *Insurance — 4.4%* | *Insurance — 4.4%* | *Insurance — 4.4%* |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC/Baldwin Insurance Group <br> Holdings Finance, Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 5/15/31 | &nbsp;&nbsp; 20787000<br>| &nbsp;&nbsp;&nbsp; 21595094<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Howden UK Refinance PLC/Howden UK Refinance 2 PLC/Howden US <br> Refinance LLC, Senior Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 2/15/32 | &nbsp;&nbsp; 39909000<br>| &nbsp;&nbsp;&nbsp; 41441426<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Howden UK Refinance PLC/Howden UK Refinance 2 PLC/Howden US <br> Refinance LLC, Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 13824000<br>| &nbsp;&nbsp;&nbsp; 14243572<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Panther Escrow Issuer LLC, Senior Secured Notes | &nbsp;&nbsp; 7.125% | &nbsp;&nbsp; 6/1/31 | &nbsp;&nbsp; 30577000<br>| &nbsp;&nbsp;&nbsp; 31825092<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ryan Specialty LLC, Senior Secured Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 8/1/32 | &nbsp;&nbsp; 53264000<br>| &nbsp;&nbsp;&nbsp; 53900025<br> <sup>(a)</sup><br>|
| *Total Insurance* | *Total Insurance* | *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *163005209* |
| *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* | *Mortgage Real Estate Investment Trusts (REITs) — 0.2%* |
| &nbsp;&nbsp;&nbsp; Rithm Capital Corp., Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 7891000<br>| &nbsp;&nbsp;&nbsp; 8083043<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Rithm Capital Corp., Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp; 525000<br>| &nbsp;&nbsp;&nbsp; 537918<br> <sup>(a)</sup><br>|
| *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | *Total Mortgage Real Estate Investment Trusts (REITs)* | &nbsp;&nbsp; *8620961* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **1013988309** |
| **Health Care — 5.9%** | **Health Care — 5.9%** | **Health Care — 5.9%** | **Health Care — 5.9%** | **Health Care — 5.9%** |
| *Biotechnology — 0.7%* | *Biotechnology — 0.7%* | *Biotechnology — 0.7%* | *Biotechnology — 0.7%* | *Biotechnology — 0.7%* |
| &nbsp;&nbsp;&nbsp; Fortrea Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp; 26407000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *25038861*<br> <sup>(a)</sup><br>|
| *Health Care Equipment & Supplies — 0.6%* | *Health Care Equipment & Supplies — 0.6%* | *Health Care Equipment & Supplies — 0.6%* | *Health Care Equipment & Supplies — 0.6%* | *Health Care Equipment & Supplies — 0.6%* |
| &nbsp;&nbsp;&nbsp; Embecta Corp., Senior Secured Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/30 | &nbsp;&nbsp; 705000<br>| &nbsp;&nbsp;&nbsp; 668283<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Embecta Corp., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 2/15/30 | &nbsp;&nbsp; 15860000<br>| &nbsp;&nbsp;&nbsp; 15477615<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, Senior Secured Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 4/1/29 | &nbsp;&nbsp; 6094000<br>| &nbsp;&nbsp;&nbsp; 5881801<br> <sup>(a)</sup><br>|
| *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | *Total Health Care Equipment & Supplies* | &nbsp;&nbsp; *22027699* |
| *Health Care Providers & Services — 2.2%* | *Health Care Providers & Services — 2.2%* | *Health Care Providers & Services — 2.2%* | *Health Care Providers & Services — 2.2%* | *Health Care Providers & Services — 2.2%* |
| &nbsp;&nbsp;&nbsp; Centene Corp., Senior Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 13203000<br>| &nbsp;&nbsp;&nbsp; 12809963<br>|

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

September 30, 2025

 **BrandywineGLOBAL — High Yield Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Health Care Providers & Services — continued* | *Health Care Providers & Services — continued* | *Health Care Providers & Services — continued* | *Health Care Providers & Services — continued* | *Health Care Providers & Services — continued* |
| &nbsp;&nbsp;&nbsp; Centene Corp., Senior Notes | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 3/1/31 | &nbsp;&nbsp; $3950000<br>| &nbsp;&nbsp;&nbsp; $3405054<br>|
| &nbsp;&nbsp;&nbsp; Molina Healthcare Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 23820000<br>| &nbsp;&nbsp;&nbsp; 24106293<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Owens & Minor Inc., Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 4/1/30 | &nbsp;&nbsp; 23399000<br>| &nbsp;&nbsp;&nbsp; 19326170<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Star Parent Inc., Senior Secured Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 20989000<br>| &nbsp;&nbsp;&nbsp; 22215660<br> <sup>(a)</sup><br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *81863140* |
| *Life Sciences Tools & Services — 1.5%* | *Life Sciences Tools & Services — 1.5%* | *Life Sciences Tools & Services — 1.5%* | *Life Sciences Tools & Services — 1.5%* | *Life Sciences Tools & Services — 1.5%* |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International Inc., Senior Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 19375000<br>| &nbsp;&nbsp;&nbsp; 18364977<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International Inc., Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 6571000<br>| &nbsp;&nbsp;&nbsp; 6124510<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; IQVIA Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/15/26 | &nbsp;&nbsp; 25350000<br>| &nbsp;&nbsp;&nbsp; 25341758<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; IQVIA Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 6/1/32 | &nbsp;&nbsp; 6250000<br>| &nbsp;&nbsp;&nbsp; 6433694<br> <sup>(a)</sup><br>|
| *Total Life Sciences Tools & Services* | *Total Life Sciences Tools & Services* | *Total Life Sciences Tools & Services* | *Total Life Sciences Tools & Services* | &nbsp;&nbsp; *56264939* |
| *Pharmaceuticals — 0.9%* | *Pharmaceuticals — 0.9%* | *Pharmaceuticals — 0.9%* | *Pharmaceuticals — 0.9%* | *Pharmaceuticals — 0.9%* |
| &nbsp;&nbsp;&nbsp; Mylan Inc., Senior Notes | &nbsp;&nbsp; 5.200% | &nbsp;&nbsp; 4/15/48 | &nbsp;&nbsp; 6310000<br>| &nbsp;&nbsp;&nbsp; 5174054<br>|
| &nbsp;&nbsp;&nbsp; Organon & Co./Organon Foreign Debt Co-Issuer BV, Senior Secured <br> Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 5/15/34 | &nbsp;&nbsp; 22307000<br>| &nbsp;&nbsp;&nbsp; 21417767<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Viatris Inc., Senior Notes | &nbsp;&nbsp; 3.850% | &nbsp;&nbsp; 6/22/40 | &nbsp;&nbsp; 7783000<br>| &nbsp;&nbsp;&nbsp; 5938297<br>|
| *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | *Total Pharmaceuticals* | &nbsp;&nbsp; *32530118* |
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **217724757** |
| **Industrials — 6.2%** | **Industrials — 6.2%** | **Industrials — 6.2%** | **Industrials — 6.2%** | **Industrials — 6.2%** |
| *Aerospace & Defense — 1.0%* | *Aerospace & Defense — 1.0%* | *Aerospace & Defense — 1.0%* | *Aerospace & Defense — 1.0%* | *Aerospace & Defense — 1.0%* |
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 19370000<br>| &nbsp;&nbsp;&nbsp; 19763385<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; TransDigm Inc., Senior Secured Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 3/1/29 | &nbsp;&nbsp; 17358000<br>| &nbsp;&nbsp;&nbsp; 17768534<br> <sup>(a)</sup><br>|
| *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | *Total Aerospace & Defense* | &nbsp;&nbsp; *37531919* |
| *Building Products — 0.5%* | *Building Products — 0.5%* | *Building Products — 0.5%* | *Building Products — 0.5%* | *Building Products — 0.5%* |
| &nbsp;&nbsp;&nbsp; AmeriTex HoldCo Intermediate LLC, Senior Secured Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 8/15/33 | &nbsp;&nbsp; 8000000<br>| &nbsp;&nbsp;&nbsp; 8333868<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP/Emerald Co-Issuer Inc., Senior Secured Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 12/15/30 | &nbsp;&nbsp; 9988000<br>| &nbsp;&nbsp;&nbsp; 10279640<br> <sup>(a)</sup><br>|
| *Total Building Products* | *Total Building Products* | *Total Building Products* | *Total Building Products* | &nbsp;&nbsp; *18613508* |
| *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* | *Commercial Services & Supplies — 0.3%* |
| &nbsp;&nbsp;&nbsp; Matthews International Corp., Secured Notes | &nbsp;&nbsp; 8.625% | &nbsp;&nbsp; 10/1/27 | &nbsp;&nbsp; 8750000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *9049215*<br> <sup>(a)</sup><br>|
| *Construction & Engineering — 1.1%* | *Construction & Engineering — 1.1%* | *Construction & Engineering — 1.1%* | *Construction & Engineering — 1.1%* | *Construction & Engineering — 1.1%* |
| &nbsp;&nbsp;&nbsp; Brundage-Bone Concrete Pumping Holdings Inc., Senior Secured Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 2/1/32 | &nbsp;&nbsp; 41033000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *41492816*<br> <sup>(a)</sup><br>|
| *Electrical Equipment — 0.9%* | *Electrical Equipment — 0.9%* | *Electrical Equipment — 0.9%* | *Electrical Equipment — 0.9%* | *Electrical Equipment — 0.9%* |
| &nbsp;&nbsp;&nbsp; Regal Rexnord Corp., Senior Notes | &nbsp;&nbsp; 6.050% | &nbsp;&nbsp; 2/15/26 | &nbsp;&nbsp; 10795000<br>| &nbsp;&nbsp;&nbsp; 10848708<br>|
| &nbsp;&nbsp;&nbsp; WESCO Distribution Inc., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 20831000<br>| &nbsp;&nbsp;&nbsp; 21119405<br> <sup>(a)</sup><br>|
| *Total Electrical Equipment* | *Total Electrical Equipment* | *Total Electrical Equipment* | *Total Electrical Equipment* | &nbsp;&nbsp; *31968113* |
| *Machinery — 0.7%* | *Machinery — 0.7%* | *Machinery — 0.7%* | *Machinery — 0.7%* | *Machinery — 0.7%* |
| &nbsp;&nbsp;&nbsp; Manitowoc Co. Inc., Secured Notes | &nbsp;&nbsp; 9.250% | &nbsp;&nbsp; 10/1/31 | &nbsp;&nbsp; 10183000<br>| &nbsp;&nbsp;&nbsp; 10696861<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Titan International Inc., Senior Secured Notes | &nbsp;&nbsp; 7.000% | &nbsp;&nbsp; 4/30/28 | &nbsp;&nbsp; 14135000<br>| &nbsp;&nbsp;&nbsp; 14163793<br>|
| *Total Machinery* | *Total Machinery* | *Total Machinery* | *Total Machinery* | &nbsp;&nbsp; *24860654* |
| *Passenger Airlines — 0.9%* | *Passenger Airlines — 0.9%* | *Passenger Airlines — 0.9%* | *Passenger Airlines — 0.9%* | *Passenger Airlines — 0.9%* |
| &nbsp;&nbsp;&nbsp; Allegiant Travel Co., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 8/15/27 | &nbsp;&nbsp; 16429000<br>| &nbsp;&nbsp;&nbsp; 16647303<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/20/28 | &nbsp;&nbsp; 6889000<br>| &nbsp;&nbsp;&nbsp; 6930605<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; United Airlines Inc., Senior Secured Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 4/15/26 | &nbsp;&nbsp; 10547000<br>| &nbsp;&nbsp;&nbsp; 10539871<br> <sup>(a)</sup><br>|
| *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | *Total Passenger Airlines* | &nbsp;&nbsp; *34117779* |
| *Professional Services — 0.3%* | *Professional Services — 0.3%* | *Professional Services — 0.3%* | *Professional Services — 0.3%* | *Professional Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; Concentrix Corp., Senior Notes | &nbsp;&nbsp; 6.850% | &nbsp;&nbsp; 8/2/33 | &nbsp;&nbsp; 10721000<br>| &nbsp;&nbsp;&nbsp; *11133507*<br>|

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

 **BrandywineGLOBAL — High Yield Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Trading Companies & Distributors — 0.5%* | *Trading Companies & Distributors — 0.5%* | *Trading Companies & Distributors — 0.5%* | *Trading Companies & Distributors — 0.5%* | *Trading Companies & Distributors — 0.5%* |
| &nbsp;&nbsp;&nbsp; Boise Cascade Co., Senior Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp; $19704000<br>| &nbsp;&nbsp;&nbsp; $*19316245*<br> <sup>(a)</sup><br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **228083756** |
| **Information Technology — 4.3%** | **Information Technology — 4.3%** | **Information Technology — 4.3%** | **Information Technology — 4.3%** | **Information Technology — 4.3%** |
| *Communications Equipment — 0.7%* | *Communications Equipment — 0.7%* | *Communications Equipment — 0.7%* | *Communications Equipment — 0.7%* | *Communications Equipment — 0.7%* |
| &nbsp;&nbsp;&nbsp; Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes | &nbsp;&nbsp; 9.000% | &nbsp;&nbsp; 9/15/29 | &nbsp;&nbsp; 11127000<br>| &nbsp;&nbsp;&nbsp; 11712890<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Nokia oyj, Senior Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 5/15/39 | &nbsp;&nbsp; 13065000<br>| &nbsp;&nbsp;&nbsp; 13755512<br>|
| *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | *Total Communications Equipment* | &nbsp;&nbsp; *25468402* |
| *IT Services — 1.1%* | *IT Services — 1.1%* | *IT Services — 1.1%* | *IT Services — 1.1%* | *IT Services — 1.1%* |
| &nbsp;&nbsp;&nbsp; Sabre GLBL Inc., Senior Secured Notes | &nbsp;&nbsp; 10.750% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; 27089000<br>| &nbsp;&nbsp;&nbsp; 26280362<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sabre GLBL Inc., Senior Secured Notes | &nbsp;&nbsp; 11.125% | &nbsp;&nbsp; 7/15/30 | &nbsp;&nbsp; 14989000<br>| &nbsp;&nbsp;&nbsp; 14534833<br> <sup>(a)</sup><br>|
| *Total IT Services* | *Total IT Services* | *Total IT Services* | *Total IT Services* | &nbsp;&nbsp; *40815195* |
| *Semiconductors & Semiconductor Equipment — 0.2%* | *Semiconductors & Semiconductor Equipment — 0.2%* | *Semiconductors & Semiconductor Equipment — 0.2%* | *Semiconductors & Semiconductor Equipment — 0.2%* | *Semiconductors & Semiconductor Equipment — 0.2%* |
| &nbsp;&nbsp;&nbsp; Qorvo Inc., Senior Notes | &nbsp;&nbsp; 3.375% | &nbsp;&nbsp; 4/1/31 | &nbsp;&nbsp; 9920000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *9123149*<br> <sup>(a)</sup><br>|
| *Software — 2.3%* | *Software — 2.3%* | *Software — 2.3%* | *Software — 2.3%* | *Software — 2.3%* |
| &nbsp;&nbsp;&nbsp; Central Parent Inc./CDK Global Inc., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 34637000<br>| &nbsp;&nbsp;&nbsp; 29954251<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Central Parent LLC/CDK Global II LLC/CDK Financing Co. Inc., Senior <br> Secured Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 7105000<br>| &nbsp;&nbsp;&nbsp; 6270206<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp., Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 5/15/26 | &nbsp;&nbsp; 7968000<br>| &nbsp;&nbsp;&nbsp; 7976058<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp., Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 14333000<br>| &nbsp;&nbsp;&nbsp; 13956383<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fair Isaac Corp., Senior Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 5/15/33 | &nbsp;&nbsp; 19525000<br>| &nbsp;&nbsp;&nbsp; 19816765<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; ZoomInfo Technologies LLC/ZoomInfo Finance Corp., Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 6745000<br>| &nbsp;&nbsp;&nbsp; 6401260<br> <sup>(a)</sup><br>|
| *Total Software* | *Total Software* | *Total Software* | *Total Software* | &nbsp;&nbsp; *84374923* |
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **159781669** |
| **Materials — 5.5%** | **Materials — 5.5%** | **Materials — 5.5%** | **Materials — 5.5%** | **Materials — 5.5%** |
| *Chemicals — 2.6%* | *Chemicals — 2.6%* | *Chemicals — 2.6%* | *Chemicals — 2.6%* | *Chemicals — 2.6%* |
| &nbsp;&nbsp;&nbsp; Braskem Netherlands Finance BV, Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 1/12/31 | &nbsp;&nbsp; 3705000<br>| &nbsp;&nbsp;&nbsp; 1447266<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cerdia Finanz GmbH, Senior Secured Notes | &nbsp;&nbsp; 9.375% | &nbsp;&nbsp; 10/3/31 | &nbsp;&nbsp; 32822000<br>| &nbsp;&nbsp;&nbsp; 34832347<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; FMC Corp., Senior Notes | &nbsp;&nbsp; 4.500% | &nbsp;&nbsp; 10/1/49 | &nbsp;&nbsp; 3625000<br>| &nbsp;&nbsp;&nbsp; 2785587<br>|
| &nbsp;&nbsp;&nbsp; FMC Corp., Subordinated Notes (8.450% to 11/1/30 then 5 year <br> Treasury Constant Maturity Rate + 4.366%) | &nbsp;&nbsp; 8.450% | &nbsp;&nbsp; 11/1/55 | &nbsp;&nbsp; 7500000<br>| &nbsp;&nbsp;&nbsp; 7925767<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mativ Holdings Inc., Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 50555000<br>| &nbsp;&nbsp;&nbsp; 50115638<br> <sup>(a)</sup><br>|
| *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | *Total Chemicals* | &nbsp;&nbsp; *97106605* |
| *Metals & Mining — 2.0%* | *Metals & Mining — 2.0%* | *Metals & Mining — 2.0%* | *Metals & Mining — 2.0%* | *Metals & Mining — 2.0%* |
| &nbsp;&nbsp;&nbsp; Algoma Steel Inc., Secured Notes | &nbsp;&nbsp; 9.125% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 285000<br>| &nbsp;&nbsp;&nbsp; 243125<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs Inc., Senior Notes | &nbsp;&nbsp; 7.500% | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 18362000<br>| &nbsp;&nbsp;&nbsp; 18939045<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cleveland-Cliffs Inc., Senior Notes | &nbsp;&nbsp; 7.625% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 3500000<br>| &nbsp;&nbsp;&nbsp; 3608710<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Corp. Nacional del Cobre de Chile, Senior Notes | &nbsp;&nbsp; 3.700% | &nbsp;&nbsp; 1/30/50 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 355708<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fortescue Treasury Pty Ltd., Senior Notes | &nbsp;&nbsp; 5.875% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 6036000<br>| &nbsp;&nbsp;&nbsp; 6190727<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fortescue Treasury Pty Ltd., Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 4/1/31 | &nbsp;&nbsp; 650000<br>| &nbsp;&nbsp;&nbsp; 621031<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mineral Resources Ltd., Senior Notes | &nbsp;&nbsp; 8.125% | &nbsp;&nbsp; 5/1/27 | &nbsp;&nbsp; 28414000<br>| &nbsp;&nbsp;&nbsp; 28430792<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mineral Resources Ltd., Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 11/1/27 | &nbsp;&nbsp; 16304000<br>| &nbsp;&nbsp;&nbsp; 16632348<br> <sup>(a)</sup><br>|
| *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | *Total Metals & Mining* | &nbsp;&nbsp; *75021486* |
| *Paper & Forest Products — 0.9%* | *Paper & Forest Products — 0.9%* | *Paper & Forest Products — 0.9%* | *Paper & Forest Products — 0.9%* | *Paper & Forest Products — 0.9%* |
| &nbsp;&nbsp;&nbsp; Magnera Corp., Senior Secured Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; 11431000<br>| &nbsp;&nbsp;&nbsp; 10130072<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

September 30, 2025

 **BrandywineGLOBAL — High Yield Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Paper & Forest Products — continued* | *Paper & Forest Products — continued* | *Paper & Forest Products — continued* | *Paper & Forest Products — continued* | *Paper & Forest Products — continued* |
| &nbsp;&nbsp;&nbsp; Magnera Corp., Senior Secured Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 11/15/31 | &nbsp;&nbsp; $21947000<br>| &nbsp;&nbsp;&nbsp; $20668368<br> <sup>(a)</sup><br>|
| *Total Paper & Forest Products* | *Total Paper & Forest Products* | *Total Paper & Forest Products* | *Total Paper & Forest Products* | &nbsp;&nbsp; *30798440* |
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **202926531** |
| **Real Estate — 2.0%** | **Real Estate — 2.0%** | **Real Estate — 2.0%** | **Real Estate — 2.0%** | **Real Estate — 2.0%** |
| *Hotel & Resort REITs — 0.5%* | *Hotel & Resort REITs — 0.5%* | *Hotel & Resort REITs — 0.5%* | *Hotel & Resort REITs — 0.5%* | *Hotel & Resort REITs — 0.5%* |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP/RHP Finance Corp., Senior Notes | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 8000000<br>| &nbsp;&nbsp;&nbsp; 7970436<br>|
| &nbsp;&nbsp;&nbsp; XHR LP, Senior Secured Notes | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 6/1/29 | &nbsp;&nbsp; 12150000<br>| &nbsp;&nbsp;&nbsp; 11909589<br> <sup>(a)</sup><br>|
| *Total Hotel & Resort REITs* | *Total Hotel & Resort REITs* | *Total Hotel & Resort REITs* | *Total Hotel & Resort REITs* | &nbsp;&nbsp; *19880025* |
| *Real Estate Management & Development — 0.9%* | *Real Estate Management & Development — 0.9%* | *Real Estate Management & Development — 0.9%* | *Real Estate Management & Development — 0.9%* | *Real Estate Management & Development — 0.9%* |
| &nbsp;&nbsp;&nbsp; Forestar Group Inc., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/1/28 | &nbsp;&nbsp; 9895000<br>| &nbsp;&nbsp;&nbsp; 9810063<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Forestar Group Inc., Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 20712000<br>| &nbsp;&nbsp;&nbsp; 21205733<br> <sup>(a)</sup><br>|
| *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | *Total Real Estate Management & Development* | &nbsp;&nbsp; *31015796* |
| *Specialized REITs — 0.6%* | *Specialized REITs — 0.6%* | *Specialized REITs — 0.6%* | *Specialized REITs — 0.6%* | *Specialized REITs — 0.6%* |
| &nbsp;&nbsp;&nbsp; Millrose Properties Inc., Senior Notes | &nbsp;&nbsp; 6.375% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 16925000<br>| &nbsp;&nbsp;&nbsp; 17225588<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Millrose Properties Inc., Senior Notes | &nbsp;&nbsp; 6.250% | &nbsp;&nbsp; 9/15/32 | &nbsp;&nbsp; 4750000<br>| &nbsp;&nbsp;&nbsp; 4765384<br> <sup>(a)</sup><br>|
| *Total Specialized REITs* | *Total Specialized REITs* | *Total Specialized REITs* | *Total Specialized REITs* | &nbsp;&nbsp; *21990972* |
| **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | **Total Real Estate** | &nbsp;&nbsp; **72886793** |
| **Utilities — 0.6%** | **Utilities — 0.6%** | **Utilities — 0.6%** | **Utilities — 0.6%** | **Utilities — 0.6%** |
| *Electric Utilities — 0.6%* | *Electric Utilities — 0.6%* | *Electric Utilities — 0.6%* | *Electric Utilities — 0.6%* | *Electric Utilities — 0.6%* |
| &nbsp;&nbsp;&nbsp; Southern California Edison Co., First Mortgage Bonds | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 4/1/47 | &nbsp;&nbsp; 6065000<br>| &nbsp;&nbsp;&nbsp; 4595321<br>|
| &nbsp;&nbsp;&nbsp; Southern California Edison Co., First Mortgage Bonds | &nbsp;&nbsp; 4.875% | &nbsp;&nbsp; 3/1/49 | &nbsp;&nbsp; 5000000<br>| &nbsp;&nbsp;&nbsp; 4233781<br>|
| &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP, Senior Notes | &nbsp;&nbsp; 8.375% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 11442000<br>| &nbsp;&nbsp;&nbsp; 12000141<br> <sup>(a)</sup><br>|
| *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | *Total Electric Utilities* | &nbsp;&nbsp; *20829243* |
| *Independent Power and Renewable Electricity Producers — 0.0%††* | *Independent Power and Renewable Electricity Producers — 0.0%††* | *Independent Power and Renewable Electricity Producers — 0.0%††* | *Independent Power and Renewable Electricity Producers — 0.0%††* | *Independent Power and Renewable Electricity Producers — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Long Ridge Energy LLC, Senior Secured Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 2/15/32 | &nbsp;&nbsp; 1175000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1208614*<br> <sup>(a)</sup><br>|
| **Total Utilities** | **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **22037857** |
| **Total Corporate Bonds & Notes (Cost — $3,136,730,136)** | **Total Corporate Bonds & Notes (Cost — $3,136,730,136)** | **Total Corporate Bonds & Notes (Cost — $3,136,730,136)** | **Total Corporate Bonds & Notes (Cost — $3,136,730,136)** | &nbsp;&nbsp; **3137840770** |
| **Senior Loans — 2.7%** | **Senior Loans — 2.7%** | **Senior Loans — 2.7%** | **Senior Loans — 2.7%** | **Senior Loans — 2.7%** |
| **Communication Services — 0.4%** | **Communication Services — 0.4%** | **Communication Services — 0.4%** | **Communication Services — 0.4%** | **Communication Services — 0.4%** |
| *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* | *Diversified Telecommunication Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Numericable U.S. LLC, USD Term Loan B14 (3 mo. Term SOFR + <br> 5.500%)  | 9.818% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 8029591<br>| &nbsp;&nbsp;&nbsp;&nbsp; *7788704*<br> <sup>(g)(i)(j)(k)</sup><br>|
| *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* | *Interactive Media & Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; TripAdvisor Inc., Initial Term Loan B (1 mo. Term SOFR + 2.750%)  | 6.913% | &nbsp;&nbsp; 7/8/31 | &nbsp;&nbsp; 7939850<br>| &nbsp;&nbsp;&nbsp;&nbsp; *7800902*<br> <sup>(g)(i)(j)</sup><br>|
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **15589606** |
| **Consumer Discretionary — 0.3%** | **Consumer Discretionary — 0.3%** | **Consumer Discretionary — 0.3%** | **Consumer Discretionary — 0.3%** | **Consumer Discretionary — 0.3%** |
| *Hotels, Restaurants & Leisure — 0.3%* | *Hotels, Restaurants & Leisure — 0.3%* | *Hotels, Restaurants & Leisure — 0.3%* | *Hotels, Restaurants & Leisure — 0.3%* | *Hotels, Restaurants & Leisure — 0.3%* |
| &nbsp;&nbsp;&nbsp; J&J Ventures Gaming LLC, 2025 Term Loan (1 mo. Term SOFR + <br> 3.500%)  | 7.663% | &nbsp;&nbsp; 4/26/30 | &nbsp;&nbsp; 11850450<br>| &nbsp;&nbsp;&nbsp;&nbsp; **11744922**<br> <sup>(g)(i)(j)</sup><br>|
| **Financials — 0.7%** | **Financials — 0.7%** | **Financials — 0.7%** | **Financials — 0.7%** | **Financials — 0.7%** |
| *Financial Services — 0.3%* | *Financial Services — 0.3%* | *Financial Services — 0.3%* | *Financial Services — 0.3%* | *Financial Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; FNZ Group Entities Ltd., Initial USD Term Loan (3 mo. Term SOFR + <br> 5.000%)  | 9.321% | &nbsp;&nbsp; 11/5/31 | &nbsp;&nbsp; 12437500<br>| &nbsp;&nbsp;&nbsp;&nbsp; *10069213*<br> <sup>(g)(i)(j)</sup><br>|
| *Insurance — 0.4%* | *Insurance — 0.4%* | *Insurance — 0.4%* | *Insurance — 0.4%* | *Insurance — 0.4%* |
| &nbsp;&nbsp;&nbsp; Ardonagh Group Finco Pty Ltd., 2025 Term Loan Facility B (3 mo. Term <br> SOFR + 2.750%) | 6.752-6.950% | &nbsp;&nbsp; 2/15/31 | &nbsp;&nbsp; 10696317<br>| &nbsp;&nbsp;&nbsp; 10665138<br> <sup>(g)(i)(j)</sup><br>|

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

 **BrandywineGLOBAL — High Yield Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Insurance — continued* | *Insurance — continued* | *Insurance — continued* | *Insurance — continued* | *Insurance — continued* |
| &nbsp;&nbsp;&nbsp; Truist Insurance Holdings LLC, 2024 Term Loan B (3 mo. Term SOFR + <br> 2.750%) | 6.752% | &nbsp;&nbsp; 5/6/31 | &nbsp;&nbsp; $4596774<br>| &nbsp;&nbsp;&nbsp; $4603968<br> <sup>(g)(i)(j)</sup><br>|
| *Total Insurance* | *Total Insurance* | *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *15269106* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **25338319** |
| **Health Care — 0.2%** | **Health Care — 0.2%** | **Health Care — 0.2%** | **Health Care — 0.2%** | **Health Care — 0.2%** |
| *Health Care Providers & Services — 0.2%* | *Health Care Providers & Services — 0.2%* | *Health Care Providers & Services — 0.2%* | *Health Care Providers & Services — 0.2%* | *Health Care Providers & Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Star Parent Inc., Term Loan B (3 mo. Term SOFR + 4.000%)  | 8.002% | &nbsp;&nbsp; 9/27/30 | &nbsp;&nbsp; 5643922<br>| &nbsp;&nbsp;&nbsp;&nbsp; **5650977**<br> <sup>(g)(i)(j)</sup><br>|
| **Information Technology — 0.7%** | **Information Technology — 0.7%** | **Information Technology — 0.7%** | **Information Technology — 0.7%** | **Information Technology — 0.7%** |
| *Communications Equipment — 0.5%* | *Communications Equipment — 0.5%* | *Communications Equipment — 0.5%* | *Communications Equipment — 0.5%* | *Communications Equipment — 0.5%* |
| &nbsp;&nbsp;&nbsp; Connect US Finco LLC, Amendment No. 4 Term Loan (1 mo. Term SOFR <br> + 4.500%)  | 8.663% | &nbsp;&nbsp; 9/27/29 | &nbsp;&nbsp; 18156104<br>| &nbsp;&nbsp;&nbsp;&nbsp; *17961925*<br> <sup>(g)(i)(j)(l)</sup><br>|
| *IT Services — 0.2%* | *IT Services — 0.2%* | *IT Services — 0.2%* | *IT Services — 0.2%* | *IT Services — 0.2%* |
| &nbsp;&nbsp;&nbsp; Amentum Holdings LLC, Initial Term Loan (1 mo. Term SOFR + 2.250%)  | 6.413% | &nbsp;&nbsp; 9/29/31 | &nbsp;&nbsp; 6518157<br>| &nbsp;&nbsp;&nbsp;&nbsp; *6525294*<br> <sup>(g)(i)(j)</sup><br>|
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **24487219** |
| **Utilities — 0.4%** | **Utilities — 0.4%** | **Utilities — 0.4%** | **Utilities — 0.4%** | **Utilities — 0.4%** |
| *Independent Power and Renewable Electricity Producers — 0.4%* | *Independent Power and Renewable Electricity Producers — 0.4%* | *Independent Power and Renewable Electricity Producers — 0.4%* | *Independent Power and Renewable Electricity Producers — 0.4%* | *Independent Power and Renewable Electricity Producers — 0.4%* |
| &nbsp;&nbsp;&nbsp; Long Ridge Energy LLC, Term Loan B (3 mo. Term SOFR + 4.500%)  | 8.502% | &nbsp;&nbsp; 2/19/32 | &nbsp;&nbsp; 15920000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **15614017**<br> <sup>(g)(i)(j)</sup><br>|
| **Total Senior Loans (Cost — $98,035,671)** | **Total Senior Loans (Cost — $98,035,671)** | **Total Senior Loans (Cost — $98,035,671)** | **Total Senior Loans (Cost — $98,035,671)** | &nbsp;&nbsp; **98425060** |
| **Convertible Bonds & Notes — 2.0%** | **Convertible Bonds & Notes — 2.0%** | **Convertible Bonds & Notes — 2.0%** | **Convertible Bonds & Notes — 2.0%** | **Convertible Bonds & Notes — 2.0%** |
| **Communication Services — 1.4%** | **Communication Services — 1.4%** | **Communication Services — 1.4%** | **Communication Services — 1.4%** | **Communication Services — 1.4%** |
| *Interactive Media & Services — 0.3%* | *Interactive Media & Services — 0.3%* | *Interactive Media & Services — 0.3%* | *Interactive Media & Services — 0.3%* | *Interactive Media & Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; Snap Inc., Senior Notes | &nbsp;&nbsp; 0.500% | &nbsp;&nbsp; 5/1/30 | &nbsp;&nbsp; 13875000<br>| &nbsp;&nbsp;&nbsp; *11932500*<br>|
| *Media — 1.1%* | *Media — 1.1%* | *Media — 1.1%* | *Media — 1.1%* | *Media — 1.1%* |
| &nbsp;&nbsp;&nbsp; Cable One Inc., Senior Notes | &nbsp;&nbsp; 1.125% | &nbsp;&nbsp; 3/15/28 | &nbsp;&nbsp; 46155000<br>| &nbsp;&nbsp;&nbsp; *39508680*<br>|
| **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | **Total Communication Services** | &nbsp;&nbsp; **51441180** |
| **Consumer Discretionary — 0.4%** | **Consumer Discretionary — 0.4%** | **Consumer Discretionary — 0.4%** | **Consumer Discretionary — 0.4%** | **Consumer Discretionary — 0.4%** |
| *Automobiles — 0.3%* | *Automobiles — 0.3%* | *Automobiles — 0.3%* | *Automobiles — 0.3%* | *Automobiles — 0.3%* |
| &nbsp;&nbsp;&nbsp; Winnebago Industries Inc., Senior Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 10591000<br>| &nbsp;&nbsp;&nbsp; *9510718*<br>|
| *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* | *Hotels, Restaurants & Leisure — 0.1%* |
| &nbsp;&nbsp;&nbsp; Airbnb Inc., Senior Notes | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 3/15/26 | &nbsp;&nbsp; 4750000<br>| &nbsp;&nbsp;&nbsp; *4655000*<br>|
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **14165718** |
| **Financials — 0.2%** | **Financials — 0.2%** | **Financials — 0.2%** | **Financials — 0.2%** | **Financials — 0.2%** |
| *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* | *Consumer Finance — 0.2%* |
| &nbsp;&nbsp;&nbsp; Encore Capital Group Inc., Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; 9625000<br>| &nbsp;&nbsp;&nbsp; **9550197**<br>|
| **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** | **Real Estate — 0.0%††** |
| *Retail REITs — 0.0%††* | *Retail REITs — 0.0%††* | *Retail REITs — 0.0%††* | *Retail REITs — 0.0%††* | *Retail REITs — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Federal Realty OP LP, Senior Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 1000000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **1018000**<br> <sup>(a)</sup><br>|
| **Total Convertible Bonds & Notes (Cost — $73,953,275)** | **Total Convertible Bonds & Notes (Cost — $73,953,275)** | **Total Convertible Bonds & Notes (Cost — $73,953,275)** | **Total Convertible Bonds & Notes (Cost — $73,953,275)** | &nbsp;&nbsp; **76175095** |
| **Asset-Backed Securities — 0.2%** | **Asset-Backed Securities — 0.2%** | **Asset-Backed Securities — 0.2%** | **Asset-Backed Securities — 0.2%** | **Asset-Backed Securities — 0.2%** |
| &nbsp;&nbsp;&nbsp; Cogent LLC, 2025-1A A2 (Cost — $5,999,865) | &nbsp;&nbsp; 6.646% | &nbsp;&nbsp; 4/25/55 | &nbsp;&nbsp; 6000000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **6160325**<br> <sup>(a)</sup><br>|
| **Total Investments before Short-Term Investments (Cost — $3,314,718,947)** | **Total Investments before Short-Term Investments (Cost — $3,314,718,947)** | **Total Investments before Short-Term Investments (Cost — $3,314,718,947)** | **Total Investments before Short-Term Investments (Cost — $3,314,718,947)** | &nbsp;&nbsp; **3318601250** |

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

September 30, 2025

 **BrandywineGLOBAL — High Yield Fund**

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| Security | Rate | Shares | Value |
| **Short-Term Investments — 7.5%** | **Short-Term Investments — 7.5%** | **Short-Term Investments — 7.5%** | **Short-Term Investments — 7.5%** |
| &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional U.S. Treasury Reserves, Premium <br> Shares (Cost — $277,792,485)  | &nbsp;&nbsp; 4.013% | &nbsp;&nbsp; 277792485<br>| &nbsp;&nbsp;&nbsp;&nbsp; **$277792485**<br> <sup>(m)(n)</sup><br>|
| **Total Investments — 97.5% (Cost — $3,592,511,432)** | **Total Investments — 97.5% (Cost — $3,592,511,432)** | **Total Investments — 97.5% (Cost — $3,592,511,432)** | &nbsp;&nbsp; **3596393735** |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 2.5% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 2.5% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 2.5% | &nbsp;&nbsp;&nbsp; 90452643 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$3686846378** |

---

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

---

| | |
|:---|:---|
| †† | Represents less than 0.1%. |
| <sup>(a)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees. <br>|
| <sup>(b)</sup> | The coupon payment on this security is currently in default as of September 30, 2025. |
| <sup>(c)</sup> | Payment-in-kind security for which the issuer has the option at each interest payment date of making interest payments in cash or additional securities.  |
| <sup>(d)</sup> | Securities traded on a when-issued or delayed delivery basis. |
| <sup>(e)</sup> | Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of <br> the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the <br> Board of Trustees.<br>|
| <sup>(f)</sup> | Security has no maturity date. The date shown represents the next call date. |
| <sup>(g)</sup> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a <br> reference rate and spread in their description above.<br>|
| <sup>(h)</sup> | Security is fair valued in accordance with procedures approved by the Board of Trustees (Note 1). |
| <sup>(i)</sup> | Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan. |
| <sup>(j)</sup> | Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower <br> prior to the disposition of a senior loan. <br>|
| <sup>(k)</sup> | Security is valued using significant unobservable inputs (Note 1). |
| <sup>(l)</sup> | All or a portion of this loan has not settled as of September 30, 2025. Interest rates are not effective until settlement date. Interest rates shown, if any, are <br> for the settled portion of the loan.<br>|
| <sup>(m)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |
| <sup>(n)</sup> | In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company" represents Fund ownership of at least 5% of the outstanding <br> voting securities of an issuer, or a company which is under common ownership or control with the Fund. At September 30, 2025, the total market value of <br> investments in Affiliated Companies was $277,792,485 and the cost was $277,792,485 (Note 2).<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| DAC |  | Designated Activity Company |
| PIK |  | Payment-In-Kind |
| SOFR |  | Secured Overnight Financing Rate |
| USD |  | United States Dollar |

---

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

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

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Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

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

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

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

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

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

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

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

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

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

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; $3137840770 | &nbsp;&nbsp; — | &nbsp;&nbsp; $3137840770 |
| &nbsp;&nbsp;&nbsp; Senior Loans: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | &nbsp;&nbsp; — | &nbsp;&nbsp; 7800902 | &nbsp;&nbsp; $7788704 | &nbsp;&nbsp; 15589606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Senior Loans | &nbsp;&nbsp; — | &nbsp;&nbsp; 82835454 | &nbsp;&nbsp; — | &nbsp;&nbsp; 82835454 |
| &nbsp;&nbsp;&nbsp; Convertible Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 76175095 | &nbsp;&nbsp; — | &nbsp;&nbsp; 76175095 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 6160325 | &nbsp;&nbsp; — | &nbsp;&nbsp; 6160325 |
| Total Long-Term Investments | &nbsp;&nbsp; — | &nbsp;&nbsp; 3310812546 | &nbsp;&nbsp; 7788704 | &nbsp;&nbsp; 3318601250 |
| Short-Term Investments† | &nbsp;&nbsp; $277792485 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 277792485 |
| **Total Investments** | &nbsp;&nbsp; **$277792485** | &nbsp;&nbsp; **$3310812546** | &nbsp;&nbsp; **$7788704** | &nbsp;&nbsp; **$3596393735** |

---

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

† See Schedule of Investments for additional detailed categorizations.

**2. Transactions with affiliated company**

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended September 30, 2025. The following transactions were effected in such company for the period ended September 30, 2025. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>December 31, <br>2024 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>December 31, <br>2024 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional U.S. <br> Treasury Reserves, <br> Premium Shares<br>| $176021209 | $1164963486 | 1164963486 | $1063192210 | 1063192210 |

---

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>September 30, <br>2025<br>|
| Western Asset Premier <br> Institutional U.S. Treasury <br> Reserves, Premium Shares<br>|  | $8614311 |  | $277792485 |

---

------

BrandywineGLOBAL — High Yield Fund 2025 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

- **b. Investment Company Act file number:** 811-06444

- **c. CIK number of Registrant:** 0000880366

- **d. LEI of Registrant:** 5493006N9MF7V29DK342

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

  - **Street Address 1:** One Madison Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10010

  - **Telephone number:** 1-877-721-1926

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

- **a. Name of Series:** BrandywineGLOBAL - HIGH YIELD FUND

- **b. EDGAR series identifier (if any):** S000071892

- **c. LEI of Series:** 549300S5DI1UCBY1J672

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $3659405032.03

**Total Liabilities:** $42634697.90

**Net Assets:** $3616770334.13

**Delayed Delivery Securities:** $5000000.00

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1061.27886838 | **1-Year:** 20903.78887372 | **5-Year:** 56139.00589140 | **10-Year:** 96117.90525243 | **30-Year:** 6723.62213409

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

- **3-Month:** 12729.32722472 | **1-Year:** 306883.05488768 | **5-Year:** 423668.13726382 | **10-Year:** 37307.14552307 | **30-Year:** 11.65632236

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000227486 | 0.37%                | 1.25%                | 1.00%                |
| Class ID C000227485 | 0.49%                | 1.27%                | 0.93%                |
| Class ID C000227484 | 0.39%                | 1.26%                | 1.01%                |
| Class ID C000227482 | 0.30%                | 1.28%                | 0.84%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-965759.86              | $-5486920.92                               |
| Month 2  | $5599399.13              | $20546509.85                               |
| Month 3  | $4792776.56              | $10111393.70                               |

### Schedule of Portfolio Investments

| Name                                                     | Title                                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CENTURY COMMUNITIES                                      | Century Communities Inc                                                         | CUSIP: 156504AN2<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |   1825000 | PA      | $1842345.20   | 0.05%             | 2033-09-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| QVC INC                                                  | QVC Inc                                                                         | CUSIP: 747262AW3<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |  40330000 | PA      | $21531743.37  | 0.60%             | 2034-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                         | Societe Generale SA                                                             | CUSIP: 83368RBT8<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |  10352000 | PA      | $11350835.49  | 0.31%             | 2053-01-10      | Fixed         | 7.37%                 | No            |                  2 | On Loan: No      |
| BRUNDAGE-BONE CONCRETE                                   | Brundage-Bone Concrete Pumping Holdings Inc                                     | CUSIP: 66981QAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  41033000 | PA      | $41492815.80  | 1.15%             | 2032-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                      | Southern California Edison Co                                                   | CUSIP: 842400GG2<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   6065000 | PA      | $4595321.32   | 0.13%             | 2047-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| FORTREA HOLDINGS INC                                     | Fortrea Holdings Inc                                                            | CUSIP: 34965KAA5<br>LEI: 5493000FIVFABOVCDU97 | Long             | DBT              | CORP              | US        |  26407000 | PA      | $25038861.25  | 0.69%             | 2030-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                                  | Dream Finders Homes Inc                                                         | CUSIP: 26154DAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  26563000 | PA      | $27581956.68  | 0.76%             | 2028-08-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                 | Occidental Petroleum Corp                                                       | CUSIP: 674599CN3<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    678000 | PA      | $500341.76    | 0.01%             | 2048-03-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ARKO CORP                                                | Arko Corp                                                                       | CUSIP: 041242AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  32641000 | PA      | $27712995.65  | 0.77%             | 2029-11-15      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| ANGI GROUP LLC                                           | ANGI Group LLC                                                                  | CUSIP: 001846AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  38281000 | PA      | $36012850.75  | 1.00%             | 2028-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                                   | Cogent Communications Group LLC / Cogent Finance Inc                            | CUSIP: 19240WAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  44877000 | PA      | $43653451.03  | 1.21%             | 2032-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                         | Societe Generale SA                                                             | CUSIP: 83368RBK7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   5225000 | PA      | $4067995.86   | 0.11%             | 2043-01-21      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                 | Occidental Petroleum Corp                                                       | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   3949000 | PA      | $4016452.87   | 0.11%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                   | WESCO Distribution Inc                                                          | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |  20831000 | PA      | $21119405.20  | 0.58%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                                 | United Wholesale Mortgage LLC                                                   | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |   3664000 | PA      | $3664829.90   | 0.10%             | 2027-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                                 | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |  13824000 | PA      | $14243572.22  | 0.39%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                      | Charles Schwab Corp/The                                                         | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7918848.00   | 0.22%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TGNR INTERMEDIATE HOLDIN                                 | TGNR Intermediate Holdings LLC                                                  | CUSIP: 77289KAA3<br>LEI: 5493007AZNVKZ5HEMT23 | Long             | DBT              | CORP              | US        |  18424000 | PA      | $18042982.47  | 0.50%             | 2029-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                             | Centene Corp                                                                    | CUSIP: 15135BAT8<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |  13203000 | PA      | $12809962.80  | 0.35%             | 2029-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| WINNEBAGO INDUSTRIES                                     | Winnebago Industries Inc                                                        | CUSIP: 974637AF7<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |  10591000 | PA      | $9510718.00   | 0.26%             | 2030-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                | IQVIA Inc                                                                       | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   6250000 | PA      | $6433693.75   | 0.18%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                    | Wells Fargo & Co                                                                | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |  14242000 | PA      | $14120565.59  | 0.39%             | N/A             | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PHINIA INC                                               | Phinia Inc                                                                      | CUSIP: 71880KAB7<br>LEI: 254900HG6MORZE1FFM18 | Long             | DBT              | CORP              | US        |   7805000 | PA      | $8050997.99   | 0.22%             | 2032-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                      | Braskem Netherlands Finance BV                                                  | CUSIP: 10554TAH8<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |   7695000 | PA      | $3005859.38   | 0.08%             | 2031-01-12      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CNT PRNT/CDK GLO II/FIN                                  | Central Parent LLC / CDK Global II LLC / CDK Financing Co Inc                   | CUSIP: 154915AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7105000 | PA      | $6270205.84   | 0.17%             | 2029-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ADAMS HOMES INC                                          | Adams Homes Inc                                                                 | CUSIP: 00623PAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  25446000 | PA      | $26640944.16  | 0.74%             | 2028-10-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                  | Howard Midstream Energy Partners LLC                                            | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3000000 | PA      | $3060601.14   | 0.08%             | 2034-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                                 | Burford Capital Global Finance LLC                                              | CUSIP: 12116LAG4<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |   5100000 | PA      | $5196135.00   | 0.14%             | 2033-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                  | Millrose Properties Inc                                                         | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  16925000 | PA      | $17225588.00  | 0.48%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                   | XPLR Infrastructure Operating Partners LP                                       | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |  11442000 | PA      | $12000140.76  | 0.33%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| MIDWEST GMNG BOR/MWG FIN                                 | Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp                       | CUSIP: 59833DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  18291000 | PA      | $17792943.39  | 0.49%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SOCIETE GENERALE                                         | Societe Generale SA                                                             | CUSIP: 83368RBB7<br>LEI: O2RNE8IBXP4R0TD8PU41 | Long             | DBT              | CORP              | FR        |   9075000 | PA      | $6801175.44   | 0.19%             | 2041-03-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                             | UBS Group AG                                                                    | CUSIP: 902613AG3<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |   5551000 | PA      | $5482465.13   | 0.15%             | N/A             | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CORONADO FINANCE PTY LTD                                 | Coronado Finance Pty Ltd                                                        | CUSIP: 21979LAB2<br>LEI: 549300NS5FS0W548RE27 | Long             | DBT              | CORP              | AU        |  30965000 | PA      | $27287934.12  | 0.75%             | 2029-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                 | Ford Motor Credit Co LLC                                                        | CUSIP: 345397C43<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2620000 | PA      | $2641158.75   | 0.07%             | 2026-03-06      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                                  | LCPR Senior Secured Financing DAC                                               | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |  37406000 | PA      | $22429000.81  | 0.62%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ORGANON & CO/ORGANON FOR                                 | Organon & Co / Organon Foreign Debt Co-Issuer BV                                | CUSIP: 68622FAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22307000 | PA      | $21417766.91  | 0.59%             | 2034-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                      | Braskem Netherlands Finance BV                                                  | CUSIP: 000000000<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |   1000000 | PA      | $377610.00    | 0.01%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ARDONAGH GROUP LTD                                       | ARDONAGH GROUP FINCO PTY LTD                                                    | CUSIP: 000000000<br>LEI: 254900YP2E642AGM4G32 | Long             | LON              | CORP              | AU        |  10696250 | PA      | $10665070.43  | 0.29%             | 2031-02-18      | Floating      | 7.19%                 | No            |                  2 | On Loan: No      |
| TEINE ENERGY LTD                                         | Teine Energy Ltd                                                                | CUSIP: 879068AB0<br>LEI: 894500JBC83AX7PYEU16 | Long             | DBT              | CORP              | CA        |  20375000 | PA      | $20121308.84  | 0.56%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| AFFINITY INTERACTIVE                                     | Affinity Interactive                                                            | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  48089000 | PA      | $27597074.88  | 0.76%             | 2027-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MYLAN INC                                                | Mylan Inc                                                                       | CUSIP: 628530BJ5<br>LEI: 30ZMPDNA1RHIBH89C294 | Long             | DBT              | CORP              | US        |   6310000 | PA      | $5174054.43   | 0.14%             | 2048-04-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                                         | Credit Acceptance Corp                                                          | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  27029000 | PA      | $28431291.55  | 0.79%             | 2028-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| ENOVA INTERNATIONAL INC                                  | Enova International Inc                                                         | CUSIP: 29357KAH6<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |  44084000 | PA      | $46918424.86  | 1.30%             | 2028-12-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| POPULAR INC                                              | Popular Inc                                                                     | CUSIP: 733174AL0<br>LEI: 5493008CARDZMVQ3LO89 | Long             | DBT              | CORP              | US        |   4463000 | PA      | $4666070.96   | 0.13%             | 2028-03-13      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                                    | Civitas Resources Inc                                                           | CUSIP: 17888HAA1<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    410000 | PA      | $425497.59    | 0.01%             | 2028-07-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC                                    | Manitowoc Co Inc/The                                                            | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |  10183000 | PA      | $10696861.06  | 0.30%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| FORESTAR GROUP INC                                       | Forestar Group Inc                                                              | CUSIP: 346232AE1<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |   9895000 | PA      | $9810063.30   | 0.27%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FNZ USA FINCO                                            | FNZ USA FINCO                                                                   | CUSIP: 30339HAD3<br>LEI: N/A                  | Long             | LON              | CORP              | US        |  12437500 | PA      | $10069213.44  | 0.28%             | 2031-11-05      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| Freedom Funding Center LLC 12 PIK 08/01/37               | Freedom Funding Center LLC 12 PIK 08/01/37                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5000000.00   | 0.14%             | 2037-08-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                         | Vail Resorts Inc                                                                | CUSIP: 91879QAQ2<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |  15098000 | PA      | $15201798.75  | 0.42%             | 2030-07-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| WESTERN ALLIANCE BANCORP                                 | Western Alliance Bancorp                                                        | CUSIP: 957638AD1<br>LEI: 5493003VJXZ5JXT9S762 | Long             | DBT              | CORP              | US        |  26621000 | PA      | $25886260.40  | 0.72%             | 2031-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                            | TransDigm Inc                                                                   | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  16370000 | PA      | $16702458.33  | 0.46%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                                 | Burford Capital Global Finance LLC                                              | CUSIP: 12116LAC3<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |  24552000 | PA      | $24700992.83  | 0.68%             | 2030-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BALDWIN INSUR GRP/FIN                                    | Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19562000 | PA      | $20322472.75  | 0.56%             | 2031-05-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO                                      | Allegiant Travel Co                                                             | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |  16429000 | PA      | $16647302.97  | 0.46%             | 2027-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                                 | Jefferson Capital Holdings LLC                                                  | CUSIP: 472481AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  47171000 | PA      | $49851680.76  | 1.38%             | 2029-02-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS INC                                     | GrubHub Holdings Inc                                                            | CUSIP: 40010PAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  40223475 | PA      | $40345744.31  | 1.12%             | 2030-07-31      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                                 | Burford Capital Global Finance LLC                                              | CUSIP: 12116LAA7<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |   5540000 | PA      | $5554370.76   | 0.15%             | 2028-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                             | SM Energy Co                                                                    | CUSIP: 78454LAN0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   6051000 | PA      | $6053381.07   | 0.17%             | 2026-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BOISE CASCADE COMPANY                                    | Boise Cascade Co                                                                | CUSIP: 09739DAD2<br>LEI: 549300Z8B8LSRHC7XA55 | Long             | DBT              | CORP              | US        |  19704000 | PA      | $19316244.98  | 0.53%             | 2030-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HOME BANCSHARES INC                                      | Home BancShares Inc/AR                                                          | CUSIP: 436893AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    610000 | PA      | $551895.89    | 0.02%             | 2032-01-30      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                     | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |  18362000 | PA      | $18939044.76  | 0.52%             | 2031-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                      | Go Daddy Operating Co LLC / GD Finance Co Inc                                   | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3534000 | PA      | $3531890.91   | 0.10%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                     | Bank of America Corp                                                            | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3446516.85   | 0.10%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                  | Royal Caribbean Cruises Ltd                                                     | CUSIP: 780153BJ0<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1134000 | PA      | $1138880.48   | 0.03%             | 2026-08-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LONG RIDGE ENERGY LLC                                    | Long Ridge Energy LLC                                                           | CUSIP: 54288CAA1<br>LEI: 984500764EC9AZ2FC764 | Long             | DBT              | CORP              | US        |   1175000 | PA      | $1208614.53   | 0.03%             | 2032-02-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                     | Flutter Treasury DAC                                                            | CUSIP: 344045AB5<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |  28916000 | PA      | $29369547.46  | 0.81%             | 2031-06-04      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                      | Medline Borrower LP                                                             | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |   6094000 | PA      | $5881800.70   | 0.16%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| STRATHCONA RESOURCES                                     | Strathcona Resources Ltd/Alberta                                                | CUSIP: 86304TAA6<br>LEI: 549300YNIUISTSZMLF56 | Long             | DBT              | CORP              | CA        |  17703000 | PA      | $17727270.81  | 0.49%             | 2026-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                    | Mineral Resources Ltd                                                           | CUSIP: 603051AA1<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |  28414000 | PA      | $28430792.39  | 0.79%             | 2027-05-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L                                 | Fortescue Treasury Pty Ltd                                                      | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    650000 | PA      | $621031.13    | 0.02%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BRASKEM NETHERLANDS                                      | Braskem Netherlands Finance BV                                                  | CUSIP: 10554TAD7<br>LEI: 2549000TLMHFQ74DS330 | Long             | DBT              | CORP              | NL        |   3160000 | PA      | $1193247.60   | 0.03%             | 2030-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PROG HOLDINGS INC                                        | PROG Holdings Inc                                                               | CUSIP: 74319RAA9<br>LEI: 549300DHYTLBOVRXIG52 | Long             | DBT              | CORP              | US        |  61084000 | PA      | $60040379.86  | 1.66%             | 2029-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PRA GROUP INC                                            | PRA Group Inc                                                                   | CUSIP: 69354NAD8<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |  30225000 | PA      | $28093732.49  | 0.78%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                 | EMRLD Borrower LP / Emerald Co-Issuer Inc                                       | CUSIP: 29103CAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9988000 | PA      | $10279639.61  | 0.28%             | 2030-12-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                       | Viking Cruises Ltd                                                              | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |  22290000 | PA      | $22417342.77  | 0.62%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                          | STAR PARENT INC                                                                 | CUSIP: 87169DAB1<br>LEI: 254900GRGCJYRMDRWT73 | Long             | LON              | CORP              | US        |   5643922 | PA      | $5650976.97   | 0.16%             | 2030-09-30      | Floating      | 7.99%                 | No            |                  2 | On Loan: No      |
| ROCKET MORTGAGE LLC                                      | Rocket Mortgage LLC                                                             | CUSIP: 74840LAB8<br>LEI: 549300FGXN1K3HLB1R50 | Long             | DBT              | CORP              | US        |   2801000 | PA      | $2734336.20   | 0.08%             | 2028-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                                 | FMC Corp                                                                        | CUSIP: 302491AV7<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |   3625000 | PA      | $2785586.77   | 0.08%             | 2049-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                                 | California Resources Corp                                                       | CUSIP: 13057QAH0<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |   4690000 | PA      | $4703168.58   | 0.13%             | 2026-02-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                                    | Freedom Mortgage Corp                                                           | CUSIP: 35640YAJ6<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |  22878000 | PA      | $22846519.87  | 0.63%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| ATLANTICUS HOLDINGS CORP                                 | Atlanticus Holdings Corp                                                        | CUSIP: 04914AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  17725000 | PA      | $17627532.00  | 0.49%             | 2030-09-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BW REAL ESTATE INC                                       | BW Real Estate Inc                                                              | CUSIP: 05614HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10000000 | PA      | $10360890.00  | 0.29%             | N/A             | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRS LLC                                 | Saks Global Enterprises LLC                                                     | CUSIP: 79380MAD7<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |  26310400 | PA      | $13681408.00  | 0.38%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| CI FINANCIAL CORP                                        | CI Financial Corp                                                               | CUSIP: 125491AT7<br>LEI: 549300M9W7JJQSVCEM78 | Long             | DBT              | CORP              | CA        |  19922000 | PA      | $21240075.98  | 0.59%             | 2029-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                      | United Airlines Inc                                                             | CUSIP: 90932LAG2<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |  10547000 | PA      | $10539871.39  | 0.29%             | 2026-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                                       | PBF Holding Co LLC / PBF Finance Corp                                           | CUSIP: 69318FAM0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5816000 | PA      | $6100297.71   | 0.17%             | 2030-03-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                            | TransDigm Inc                                                                   | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |  17358000 | PA      | $17768534.06  | 0.49%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                             | Centene Corp                                                                    | CUSIP: 15135BAX9<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   3950000 | PA      | $3405054.05   | 0.09%             | 2031-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                                      | Century Communities Inc                                                         | CUSIP: 156504AM4<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |    626000 | PA      | $589474.34    | 0.02%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ECOPETROL SA                                             | Ecopetrol SA                                                                    | CUSIP: 279158AJ8<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |  22579000 | PA      | $17285646.98  | 0.48%             | 2045-05-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP                                       | Rithm Capital Corp                                                              | CUSIP: 64828TAC6<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |    525000 | PA      | $537917.63    | 0.01%             | 2030-07-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| KRAKEN OIL & GAS PARTNER                                 | Kraken Oil & Gas Partners LLC                                                   | CUSIP: 50076PAA6<br>LEI: 549300DR5HSL4YAU3X12 | Long             | DBT              | CORP              | US        |  15701000 | PA      | $15575333.91  | 0.43%             | 2029-08-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                        | Chord Energy Corp                                                               | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |   7000000 | PA      | $6955635.96   | 0.19%             | 2030-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VIATRIS INC                                              | Viatris Inc                                                                     | CUSIP: 92556VAE6<br>LEI: 254900ZZTSW7NL773X71 | Long             | DBT              | CORP              | US        |   7783000 | PA      | $5938296.61   | 0.16%             | 2040-06-22      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                                   | Nationstar Mortgage Holdings Inc                                                | CUSIP: 43734LAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8000000.00   | 0.22%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                  | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2190000 | PA      | $2298793.18   | 0.06%             | 2031-04-30      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                               | goeasy Ltd                                                                      | CUSIP: 380355AF4<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |   2708000 | PA      | $2667493.49   | 0.07%             | 2026-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                         | Altice France SA                                                                | CUSIP: 02156LAA9<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |  12915000 | PA      | $12355977.07  | 0.34%             | 2027-02-01      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| CODELCO INC                                              | Corp Nacional del Cobre de Chile                                                | CUSIP: 21987BBA5<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |    500000 | PA      | $355708.33    | 0.01%             | 2050-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                                 | United Wholesale Mortgage LLC                                                   | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |  47560000 | PA      | $46944759.08  | 1.30%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SGUS LLC                                                 | SGUS LLC                                                                        | CUSIP: 81880AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  13057524 | PA      | $12439589.86  | 0.34%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| EMBECTA CORP                                             | Embecta Corp                                                                    | CUSIP: 29082KAA3<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |    705000 | PA      | $668282.97    | 0.02%             | 2030-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ADTALEM GLOBAL EDUCATION                                 | Adtalem Global Education Inc                                                    | CUSIP: 00737WAA7<br>LEI: 549300Z467EZLMODV621 | Long             | DBT              | CORP              | US        |  17276000 | PA      | $17233406.02  | 0.48%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENERGEAN ISRAEL FINANCE                                  | Energean Israel Finance Ltd                                                     | CUSIP: 000000000<br>LEI: 98450044QACBL3F8EB03 | Long             | DBT              | CORP              | IL        |  14770000 | PA      | $14531187.56  | 0.40%             | 2028-03-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                            | Cable One Inc                                                                   | CUSIP: 12685JAC9<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1696460.80   | 0.05%             | 2030-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL                                       | CONNECT FINCO SARL                                                              | CUSIP: 000000000<br>LEI: 2594001KNYIQ456J2792 | Long             | LON              | CORP              | LU        |  18156104 | PA      | $17961924.56  | 0.50%             | 2029-09-28      | Floating      | 8.67%                 | No            |                  2 | On Loan: No      |
| BRIGHTSTAR LOTTERY PLC                                   | Brightstar Lottery PLC                                                          | CUSIP: 460599AD5<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |   8389000 | PA      | $8473426.90   | 0.23%             | 2027-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                             | SM Energy Co                                                                    | CUSIP: 78454LAW0<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |   9025000 | PA      | $9090368.08   | 0.25%             | 2028-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                                 | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: 44287DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |  39909000 | PA      | $41441425.78  | 1.15%             | 2032-02-15      | Fixed         | 8.12%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                 | RHP Hotel Properties LP / RHP Finance Corp                                      | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $7970436.00   | 0.22%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                    | Genesis Energy LP / Genesis Energy Finance Corp                                 | CUSIP: 37185LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5624000 | PA      | $5667917.82   | 0.16%             | 2028-02-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| QORVO INC                                                | Qorvo Inc                                                                       | CUSIP: 74736KAJ0<br>LEI: 254900YAUJV2EUEVBR11 | Long             | DBT              | CORP              | US        |   9920000 | PA      | $9123149.22   | 0.25%             | 2031-04-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                                 | Snap Inc                                                                        | CUSIP: 83304AAK2<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |  13875000 | PA      | $11932500.00  | 0.33%             | 2030-05-01      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                         | UWM Holdings LLC                                                                | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9000000 | PA      | $8962761.33   | 0.25%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                                           | Ryan Specialty LLC                                                              | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |  53264000 | PA      | $53900025.42  | 1.49%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ZIPRECRUITER INC                                         | ZipRecruiter Inc                                                                | CUSIP: 98980BAA1<br>LEI: 549300HLOVNNFCY2IV80 | Long             | DBT              | CORP              | US        |  32624000 | PA      | $26293609.68  | 0.73%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| XHR LP                                                   | XHR LP                                                                          | CUSIP: 98372MAC9<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              | CORP              | US        |  12150000 | PA      | $11909589.17  | 0.33%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| JEFFERSON CAPITAL HOLDIN                                 | Jefferson Capital Holdings LLC                                                  | CUSIP: 472481AC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  12950000 | PA      | $13554700.25  | 0.37%             | 2030-05-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| TEXAS CAPITAL BANCSHARES                                 | Texas Capital Bancshares Inc                                                    | CUSIP: 88224QAA5<br>LEI: 549300466Q2SXRX0YM48 | Long             | DBT              | CORP              | US        |  13148000 | PA      | $12960688.46  | 0.36%             | 2031-05-06      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                                 | Encore Capital Group Inc                                                        | CUSIP: 292554AR3<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |  14441000 | PA      | $15347837.04  | 0.42%             | 2030-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| OWENS & MINOR INC                                        | Owens & Minor Inc                                                               | CUSIP: 690732AG7<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |  23399000 | PA      | $19326170.06  | 0.53%             | 2030-04-01      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| LIBERTY INTERACTIVE LLC                                  | Liberty Interactive LLC                                                         | CUSIP: 530715AD3<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |  12681000 | PA      | $2076513.75   | 0.06%             | 2029-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                    | Mineral Resources Ltd                                                           | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |  16304000 | PA      | $16632347.56  | 0.46%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ALGOMA STEEL INC                                         | Algoma Steel Inc                                                                | CUSIP: 01566MAD7<br>LEI: 5493006RXIB5GVHWJS53 | Long             | DBT              | CORP              | CA        |    285000 | PA      | $243125.01    | 0.01%             | 2029-04-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                                 | Lindblad Expeditions LLC                                                        | CUSIP: 53523LAB6<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |  10500000 | PA      | $10709107.50  | 0.30%             | 2030-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                            | Citigroup Inc                                                                   | CUSIP: 172967MU2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   4000000 | PA      | $3989308.80   | 0.11%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                      | Petroleos Mexicanos                                                             | CUSIP: 71654QCC4<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |  14090000 | PA      | $11637366.38  | 0.32%             | 2047-09-21      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WINNEBAGO INDUSTRIES                                     | Winnebago Industries Inc                                                        | CUSIP: 974637AC4<br>LEI: 549300B7OYKYJLTE3G11 | Long             | DBT              | CORP              | US        |   9553000 | PA      | $9547719.10   | 0.26%             | 2028-07-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                                 | Connect Finco SARL / Connect US Finco LLC                                       | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |  12127000 | PA      | $12765545.00  | 0.35%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                            | Citigroup Inc                                                                   | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |  43463000 | PA      | $43109511.07  | 1.19%             | N/A             | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES/SKYMILES                                 | Delta Air Lines Inc / SkyMiles IP Ltd                                           | CUSIP: 830867AB3<br>LEI: N/A                  | Long             | DBT              | CORP              | N/A       |   6889000 | PA      | $6930604.53   | 0.19%             | 2028-10-20      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                          | Fair Isaac Corp                                                                 | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |  19525000 | PA      | $19816765.39  | 0.55%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                       | Viking Cruises Ltd                                                              | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |  17145000 | PA      | $17162899.38  | 0.47%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MATIV HOLDINGS INC                                       | Mativ Holdings Inc                                                              | CUSIP: 808541AC0<br>LEI: 549300Z1FU4IDULG1R21 | Long             | DBT              | CORP              | US        |  50555000 | PA      | $50115638.12  | 1.39%             | 2029-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                             | SM Energy Co                                                                    | CUSIP: 78454LAP5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |  13169000 | PA      | $13174542.83  | 0.36%             | 2027-01-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                                         | Credit Acceptance Corp                                                          | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1500000 | PA      | $1505302.50   | 0.04%             | 2030-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L                                 | Fortescue Treasury Pty Ltd                                                      | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   6036000 | PA      | $6190726.82   | 0.17%             | 2030-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                 | Ford Motor Credit Co LLC                                                        | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    925000 | PA      | $923334.67    | 0.03%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| DREAM FINDERS HOMES INC                                  | Dream Finders Homes Inc                                                         | CUSIP: 26154DAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   9400000 | PA      | $9464766.00   | 0.26%             | 2030-09-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                                 | Charles River Laboratories International Inc                                    | CUSIP: 159864AG2<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |  19375000 | PA      | $18364976.99  | 0.51%             | 2029-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRUIST INSURANCE HOLDING                                 | TRUIST INSURANCE HOLDING                                                        | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |   4596774 | PA      | $4603968.14   | 0.13%             | 2031-05-06      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                             | Magnera Corp                                                                    | CUSIP: 377320AA4<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |  12431000 | PA      | $11016265.18  | 0.30%             | 2029-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GRAHAM HOLDINGS CO                                       | Graham Holdings Co                                                              | CUSIP: 384637AA2<br>LEI: 529900BOSCEEEMAFQJ29 | Long             | DBT              | CORP              | US        |  22837000 | PA      | $22853728.10  | 0.63%             | 2026-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ROBLOX CORP                                              | ROBLOX Corp                                                                     | CUSIP: 771049AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    543000 | PA      | $518421.02    | 0.01%             | 2030-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GOEASY LTD                                               | goeasy Ltd                                                                      | CUSIP: 380355AH0<br>LEI: 5493009DJVZG2P8YV435 | Long             | DBT              | CORP              | CA        |  13815000 | PA      | $14428178.78  | 0.40%             | 2028-12-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| TITAN INTERNATIONAL INC                                  | Titan International Inc                                                         | CUSIP: 88830MAM4<br>LEI: 254900CXRGBE7C4B5A06 | Long             | DBT              | CORP              | US        |  12935000 | PA      | $12961348.60  | 0.36%             | 2028-04-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CERDIA FINANZ GMBH                                       | Cerdia Finanz GmbH                                                              | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |  32822000 | PA      | $34832347.50  | 0.96%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                      | JPMorgan Chase & Co                                                             | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   8340000 | PA      | $8258725.03   | 0.23%             | N/A             | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| BANK OZK                                                 | Bank OZK                                                                        | CUSIP: 06417NA94<br>LEI: 549300VYK2WBD7SST478 | Long             | DBT              | CORP              | US        |   4350000 | PA      | $4055679.00   | 0.11%             | 2031-10-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                                   | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2771000 | PA      | $2771000.00   | 0.08%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WILDFIRE INTERMEDIATE HO                                 | Wildfire Intermediate Holdings LLC                                              | CUSIP: 96812HAA6<br>LEI: 5493003RHEMQJZEXIR02 | Long             | DBT              | CORP              | US        |  13502000 | PA      | $13675838.25  | 0.38%             | 2029-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                                   | PNC Financial Services Group Inc/The                                            | CUSIP: 693475BC8<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |  10218000 | PA      | $9932690.96   | 0.27%             | N/A             | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                                      | Century Communities Inc                                                         | CUSIP: 156504AL6<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |   7517000 | PA      | $7519695.30   | 0.21%             | 2027-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                      | Charles Schwab Corp/The                                                         | CUSIP: 808513BJ3<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |  26450000 | PA      | $24854610.06  | 0.69%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Western Asset Premier Institutional US Treasury Reserves | Western Asset Premier Institutional US Treasury Reserves                        | CUSIP: 52470G478<br>LEI: 549300FS1J68EF5THY28 | Long             | STIV             | RF                | US        | 289474679 | NS      | $289474678.58 | 8.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BLOCK INC                                                | Block Inc                                                                       | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $2869216.00   | 0.08%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRS LLC                                 | Saks Global Enterprises LLC                                                     | CUSIP: 79380MAC9<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |    986640 | PA      | $360123.60    | 0.01%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| PROVIDENT FDG/PFG FIN                                    | Provident Funding Associates LP / PFG Finance Corp                              | CUSIP: 74387UAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  32833000 | PA      | $34720372.17  | 0.96%             | 2029-09-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| NOKIA OYJ                                                | Nokia Oyj                                                                       | CUSIP: 654902AC9<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |  13065000 | PA      | $13755511.38  | 0.38%             | 2039-05-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| FEDERAL REALTY OP LP                                     | Federal Realty OP LP                                                            | CUSIP: 313747BD8<br>LEI: 549300LI6XZ51GOCJ427 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1018000.00   | 0.03%             | 2029-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| SATURN OIL & GAS INC                                     | Saturn Oil & Gas Inc                                                            | CUSIP: 80412LAA5<br>LEI: 549300G6BWJ7K6PIIY73 | Long             | DBT              | CORP              | CA        |  56506000 | PA      | $58584706.00  | 1.62%             | 2029-06-15      | Fixed         | 9.62%                 | No            |                  2 | On Loan: No      |
| COTERRA ENERGY OP CO                                     | Coterra Energy Operating Co                                                     | CUSIP: 171798AE1<br>LEI: 11KYOFXPU1C4CQL1CL44 | Long             | DBT              | CORP              | US        |   2603000 | PA      | $2502435.02   | 0.07%             | 2029-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| EMBECTA CORP                                             | Embecta Corp                                                                    | CUSIP: 29082KAB1<br>LEI: 549300RPG8GXVDHNXZ62 | Long             | DBT              | CORP              | US        |  15860000 | PA      | $15477615.40  | 0.43%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                                 | Live Nation Entertainment Inc                                                   | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4890784.00   | 0.14%             | 2028-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                                 | Live Nation Entertainment Inc                                                   | CUSIP: 538034AN9<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   6921000 | PA      | $6926938.22   | 0.19%             | 2026-03-15      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| CABLE ONE INC                                            | Cable One Inc                                                                   | CUSIP: 12685JAG0<br>LEI: 549300648QS85T0XSH18 | Long             | DBT              | CORP              | US        |  46155000 | PA      | $39508680.00  | 1.09%             | 2028-03-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                                      | Travel + Leisure Co                                                             | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |  33688000 | PA      | $33959693.72  | 0.94%             | 2026-07-31      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| YINSON BERGENIA PRODUCTI                                 | Yinson Bergenia Production BV                                                   | CUSIP: 98585VAA6<br>LEI: 549300JDIAWKPMZD5256 | Long             | DBT              | CORP              | NL        |   3850000 | PA      | $4136810.10   | 0.11%             | 2045-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                           | Sabre GLBL Inc                                                                  | CUSIP: 78573NAM4<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |  14989000 | PA      | $14534833.30  | 0.40%             | 2030-07-15      | Fixed         | 11.12%                | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                      | NCL Corp Ltd                                                                    | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   7575000 | PA      | $7580170.16   | 0.21%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MAGNOLIA OIL GAS/MAG FIN                                 | Magnolia Oil & Gas Operating LLC / Magnolia Oil & Gas Finance Corp              | CUSIP: 559665AB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19663000 | PA      | $20193311.11  | 0.56%             | 2032-12-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                                 | Burford Capital Global Finance LLC                                              | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    500000 | PA      | $531908.00    | 0.01%             | 2031-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                                   | Bank of New York Mellon Corp/The                                                | CUSIP: 064058AL4<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   7450000 | PA      | $7310151.51   | 0.20%             | N/A             | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TRIPADVISOR INC                                          | TRIPADVISOR INC                                                                 | CUSIP: 89677NAE4<br>LEI: 549300XVG45PT5BART17 | Long             | LON              | CORP              | US        |   7939850 | PA      | $7800902.24   | 0.22%             | 2031-07-08      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                         | Altice France SA/France                                                         | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | LON              | CORP              | FR        |   8029591 | PA      | $7788703.41   | 0.22%             | 2028-08-31      | Floating      | 9.71%                 | No            |                  3 | On Loan: No      |
| Cogent IPv4 LLC                                          | Cogent Ipv4 LLC                                                                 | CUSIP: 19240JAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   6000000 | PA      | $6160325.40   | 0.17%             | 2055-04-25      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| CITADEL FINANCE LLC                                      | Citadel Finance LLC                                                             | CUSIP: 17287HAD2<br>LEI: 549300BQL283NCR7P163 | Long             | DBT              | CORP              | US        |   4100000 | PA      | $4161228.62   | 0.12%             | 2030-02-10      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                    | Molina Healthcare Inc                                                           | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |  23820000 | PA      | $24106292.58  | 0.67%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| TURNING POINT BRANDS INC                                 | Turning Point Brands Inc                                                        | CUSIP: 90041LAG0<br>LEI: 549300IYG00QF0VVP302 | Long             | DBT              | CORP              | US        |   8290000 | PA      | $8793203.00   | 0.24%             | 2032-03-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| MERCADOLIBRE INC                                         | MercadoLibre Inc                                                                | CUSIP: 58733RAE2<br>LEI: 549300DKPDN9M5S8GB14 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2381962.56   | 0.07%             | 2026-01-14      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                                    | Freedom Mortgage Corp                                                           | CUSIP: 35640YAK3<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |  16147000 | PA      | $17115820.00  | 0.47%             | 2028-10-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                                 | Live Nation Entertainment Inc                                                   | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |  32711000 | PA      | $33041247.31  | 0.91%             | 2027-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                                     | Raizen Fuels Finance SA                                                         | CUSIP: 75102XAF3<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |   6050000 | PA      | $5912362.50   | 0.16%             | 2032-07-08      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ZI TECH LLC/ZI FIN CORP                                  | ZoomInfo Technologies LLC/ZoomInfo Finance Corp                                 | CUSIP: 98981BAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   6745000 | PA      | $6401259.96   | 0.18%             | 2029-02-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                          | Fair Isaac Corp                                                                 | CUSIP: 303250AE4<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |   7968000 | PA      | $7976058.04   | 0.22%             | 2026-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD                                           | VOC Escrow Ltd                                                                  | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |  14408000 | PA      | $14379391.48  | 0.40%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                 | Permian Resources Operating LLC                                                 | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   9017000 | PA      | $9163590.00   | 0.25%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ALLWYN ENTERTAINMENT FIN                                 | Allwyn Entertainment Financing UK PLC                                           | CUSIP: 02007VAA8<br>LEI: 315700J7ZTIN8XGCX365 | Long             | DBT              | CORP              | GB        |  36896000 | PA      | $38310859.40  | 1.06%             | 2029-04-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| AIRBNB INC                                               | Airbnb Inc                                                                      | CUSIP: 009066AB7<br>LEI: 549300HMUDNO0RY56D37 | Long             | DBT              | CORP              | US        |   4750000 | PA      | $4655000.00   | 0.13%             | 2026-03-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LONG RIDGE ENERGY LLC                                    | LONG RIDGE ENERGY LLC                                                           | CUSIP: 000000000<br>LEI: 984500764EC9AZ2FC764 | Long             | LON              | CORP              | US        |  15920000 | PA      | $15614017.60  | 0.43%             | 2032-02-19      | Floating      | 8.63%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                          | Fair Isaac Corp                                                                 | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |  14333000 | PA      | $13956382.65  | 0.39%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                       | Viking Cruises Ltd                                                              | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |  22333000 | PA      | $23986870.32  | 0.66%             | 2031-07-15      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| J&J VENTURES GAMING LLC                                  | J&J VENTURES GAMING LLC                                                         | CUSIP: 46604BAH1<br>LEI: 549300BYPH8FLKS5ZS70 | Long             | LON              | CORP              | US        |  11850450 | PA      | $11744921.74  | 0.32%             | 2030-04-26      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                            | ZF North America Capital Inc                                                    | CUSIP: 98877DAF2<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |  38389000 | PA      | $37491630.25  | 1.04%             | 2030-04-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CONCENTRIX CORP                                          | Concentrix Corp                                                                 | CUSIP: 20602DAC5<br>LEI: 5493000EAJN1KMPVA737 | Long             | DBT              | CORP              | US        |  10721000 | PA      | $11133507.41  | 0.31%             | 2033-08-02      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP                                       | Rithm Capital Corp                                                              | CUSIP: 64828TAB8<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              | CORP              | US        |   9641000 | PA      | $9875633.02   | 0.27%             | 2029-04-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CAL EDISON                                      | Southern California Edison Co                                                   | CUSIP: 842400GR8<br>LEI: 9R1Z5I36FERIBVKW4P77 | Long             | DBT              | CORP              | US        |   5000000 | PA      | $4233780.85   | 0.12%             | 2049-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                  | Millrose Properties Inc                                                         | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4750000 | PA      | $4765383.45   | 0.13%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                                 | United Wholesale Mortgage LLC                                                   | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |   6500000 | PA      | $6501895.40   | 0.18%             | 2025-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                 | Venture Global Calcasieu Pass LLC                                               | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |   8003000 | PA      | $7676321.78   | 0.21%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                 | Rockies Express Pipeline LLC                                                    | CUSIP: 77340RAT4<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |  17229000 | PA      | $16834674.71  | 0.47%             | 2030-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                                 | Jefferies Finance LLC / JFIN Co-Issuer Corp                                     | CUSIP: 47232MAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  22348000 | PA      | $22514463.99  | 0.62%             | 2031-10-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                                     | Raizen Fuels Finance SA                                                         | CUSIP: 75102XAE6<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |  11470000 | PA      | $11154575.00  | 0.31%             | 2037-02-25      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| CNTRL PARENT/CDK GLB INC                                 | Central Parent Inc / CDK Global Inc                                             | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  34637000 | PA      | $29954250.79  | 0.83%             | 2029-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                                 | FMC Corp                                                                        | CUSIP: 302491AZ8<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |   7500000 | PA      | $7925767.50   | 0.22%             | 2055-11-01      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                             | Magnera Corp                                                                    | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |  20947000 | PA      | $19726627.78  | 0.55%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                              | Gap Inc/The                                                                     | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |  22110000 | PA      | $20199954.69  | 0.56%             | 2031-10-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                                 | Occidental Petroleum Corp                                                       | CUSIP: 674599CJ2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   4780000 | PA      | $3753240.23   | 0.10%             | 2046-04-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| AMAZON HOLDCO INC                                        | AMAZON HOLDCO INC                                                               | CUSIP: 02351XAB4<br>LEI: 2549009FJIBLW40CU216 | Long             | LON              | CORP              | US        |   6518157 | PA      | $6525294.19   | 0.18%             | 2031-09-29      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                        | Rivers Enterprise Lender LLC / Rivers Enterprise Lender Corp                    | CUSIP: 76884GAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5000000 | PA      | $5047707.25   | 0.14%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BAYTEX ENERGY CORP                                       | Baytex Energy Corp                                                              | CUSIP: 07317QAK1<br>LEI: 549300R5LTV2H7I1I079 | Long             | DBT              | CORP              | CA        |  18699000 | PA      | $18321783.20  | 0.51%             | 2032-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                     | Cleveland-Cliffs Inc                                                            | CUSIP: 18589GAA3<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   3500000 | PA      | $3608710.04   | 0.10%             | 2034-01-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                 | Charter Communications Operating LLC / Charter Communications Operating Capital | CUSIP: 161175BN3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  19146000 | PA      | $17365789.60  | 0.48%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                          | Star Parent Inc                                                                 | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |  20989000 | PA      | $22215660.13  | 0.61%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| LIBERTY INTERACTIVE LLC                                  | Liberty Interactive LLC                                                         | CUSIP: 530715AJ0<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |   7180000 | PA      | $1005200.00   | 0.03%             | 2030-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                            | FirstCash Inc                                                                   | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |  39083000 | PA      | $39058764.63  | 1.08%             | 2030-01-01      | Fixed         | 5.62%                 | No            |                  2 | On Loan: No      |
| BKV UPSTREAM MIDSTREAM L                                 | BKV Upstream Midstream LLC                                                      | CUSIP: 05619CAA3<br>LEI: 254900LG75NBYHBBAU18 | Long             | DBT              | CORP              | US        |   7750000 | PA      | $7750316.43   | 0.21%             | 2030-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                                 | Encore Capital Group Inc                                                        | CUSIP: 292554AP7<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |   9625000 | PA      | $9550197.39   | 0.26%             | 2029-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ENOVA INTERNATIONAL INC                                  | Enova International Inc                                                         | CUSIP: 29357KAK9<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |   9551000 | PA      | $10038368.43  | 0.28%             | 2029-08-01      | Fixed         | 9.12%                 | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                                 | Encore Capital Group Inc                                                        | CUSIP: 292554AQ5<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |  32769000 | PA      | $34617499.29  | 0.96%             | 2029-04-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                                   | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10287000 | PA      | $10287000.00  | 0.28%             | 2028-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| QVC INC                                                  | QVC Inc                                                                         | CUSIP: 747262BA0<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |   3692000 | PA      | $2013914.19   | 0.06%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FORESTAR GROUP INC                                       | Forestar Group Inc                                                              | CUSIP: 346232AG6<br>LEI: 549300BC2UB0GHV60V70 | Long             | DBT              | CORP              | US        |  20712000 | PA      | $21205732.66  | 0.59%             | 2033-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AMERITEX HOLDCO INTERMED                                 | AmeriTex HoldCo Intermediate LLC                                                | CUSIP: 030727AB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8000000 | PA      | $8333868.08   | 0.23%             | 2033-08-15      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| MATTHEWS INTERNATIONAL C                                 | Matthews International Corp                                                     | CUSIP: 577128AC5<br>LEI: 549300ZVC5O0ATML6U61 | Long             | DBT              | CORP              | US        |   8750000 | PA      | $9049215.00   | 0.25%             | 2027-10-01      | Fixed         | 8.62%                 | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                                    | Panther Escrow Issuer LLC                                                       | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  30577000 | PA      | $31825091.99  | 0.88%             | 2031-06-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                                 | Charles River Laboratories International Inc                                    | CUSIP: 159864AJ6<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |   6571000 | PA      | $6124509.75   | 0.17%             | 2031-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                | IQVIA Inc                                                                       | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |  25350000 | PA      | $25341758.72  | 0.70%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REGAL REXNORD CORP                                       | Regal Rexnord Corp                                                              | CUSIP: 758750AL7<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | DBT              | CORP              | US        |  10795000 | PA      | $10848707.50  | 0.30%             | 2026-02-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| EG GLOBAL FINANCE PLC                                    | EG Global Finance PLC                                                           | CUSIP: 28228PAC5<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |  29633000 | PA      | $32590254.87  | 0.90%             | 2028-11-30      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                           | Sabre GLBL Inc                                                                  | CUSIP: 78573NAL6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |  27089000 | PA      | $26280361.93  | 0.73%             | 2029-11-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

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

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer