# EDGAR Filing Document

**Accession Number:** 0001474103
**File Stem:** 0000940400-25-002058
**Filing Date:** 2025-9
**Character Count:** 83078
**Document Hash:** 6aa33678048ce80904fb7b263a140708
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-002058.hdr.sgml**: 20250923

**ACCESSION NUMBER**: 0000940400-25-002058

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250923

**DATE AS OF CHANGE**: 20250923

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Legg Mason Global Asset Management Trust
- **CENTRAL INDEX KEY:** 0001474103

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-22338
- **FILM NUMBER:** 251334415

**BUSINESS ADDRESS:**
- **STREET 1:** 100 INTERNATIONAL DRIVE
- **CITY:** BALTIMORE
- **STATE:** MD
- **ZIP:** 21202
- **BUSINESS PHONE:** 410-539-0000

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

## Series and Classes Contracts Data

### BrandywineGLOBAL - Multi-Sector Opportunities Fund (Series ID: S000031479)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000097870 | Class A      | LROAX           |
| C000097872 | Class FI     | LBAFX           |
| C000097873 | Class R      | LBARX           |
| C000097874 | Class I      | LROIX           |
| C000097875 | Class IS     | LROSX           |
| C000116978 | Class C      | LAOCX           |

## Nport-Ex

Schedule of Investments (unaudited)

July 31, 2025

 **BrandywineGLOBAL — Multi-Sector Opportunities Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity <br>Date<br>| &nbsp;&nbsp; Face <br>Amount<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(a)</sup> **— 30.5%** | **Collateralized Mortgage Obligations**<sup>(a)</sup> **— 30.5%** | **Collateralized Mortgage Obligations**<sup>(a)</sup> **— 30.5%** | **Collateralized Mortgage Obligations**<sup>(a)</sup> **— 30.5%** | **Collateralized Mortgage Obligations**<sup>(a)</sup> **— 30.5%** |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5473 FN (30 Day Average <br> SOFR + 1.250%) | &nbsp;&nbsp; 5.600% | &nbsp;&nbsp; 11/25/54 | &nbsp;&nbsp; $2196618<br>| &nbsp;&nbsp;&nbsp; $2190481<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2022-DNA4 M2 (30 Day Average SOFR + 5.250%) | &nbsp;&nbsp; 9.600% | &nbsp;&nbsp; 5/25/42 | &nbsp;&nbsp; 890000<br>| &nbsp;&nbsp;&nbsp; 951446<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2022-HQA1 M2 (30 Day Average SOFR + 5.250%) | &nbsp;&nbsp; 9.600% | &nbsp;&nbsp; 3/25/42 | &nbsp;&nbsp; 1010000<br>| &nbsp;&nbsp;&nbsp; 1073227<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2022-HQA2 M2 (30 Day Average SOFR + 6.000%) | &nbsp;&nbsp; 10.350% | &nbsp;&nbsp; 7/25/42 | &nbsp;&nbsp; 1273000<br>| &nbsp;&nbsp;&nbsp; 1383406<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2022-HQA3 M1B (30 Day Average SOFR + 3.550%) | &nbsp;&nbsp; 7.900% | &nbsp;&nbsp; 8/25/42 | &nbsp;&nbsp; 1320000<br>| &nbsp;&nbsp;&nbsp; 1384612<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2023-DNA2 M1B (30 Day Average SOFR + 3.250%) | &nbsp;&nbsp; 7.600% | &nbsp;&nbsp; 4/25/43 | &nbsp;&nbsp; 1590000<br>| &nbsp;&nbsp;&nbsp; 1666712<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2022-R02 2M2 (30 Day <br> Average SOFR + 3.000%) | &nbsp;&nbsp; 7.350% | &nbsp;&nbsp; 1/25/42 | &nbsp;&nbsp; 601000<br>| &nbsp;&nbsp;&nbsp; 615875<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2022-R09 2B1 (30 Day <br> Average SOFR + 6.750%) | &nbsp;&nbsp; 11.100% | &nbsp;&nbsp; 9/25/42 | &nbsp;&nbsp; 1230000<br>| &nbsp;&nbsp;&nbsp; 1362132<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2023-R03 2M2 (30 Day <br> Average SOFR + 3.900%) | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 4/25/43 | &nbsp;&nbsp; 1180000<br>| &nbsp;&nbsp;&nbsp; 1255570<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) REMIC, 2024-79 FA (30 Day <br> Average SOFR + 1.100%) | &nbsp;&nbsp; 5.450% | &nbsp;&nbsp; 11/25/54 | &nbsp;&nbsp; 2546149<br>| &nbsp;&nbsp;&nbsp; 2533903<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) STRIPS, 445 F6 (30 Day Average <br> SOFR + 1.250%) | &nbsp;&nbsp; 5.600% | &nbsp;&nbsp; 3/25/55 | &nbsp;&nbsp; 2808156<br>| &nbsp;&nbsp;&nbsp; 2799777<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) STRIPS, 445 F7 (30 Day Average <br> SOFR + 1.300%) | &nbsp;&nbsp; 5.650% | &nbsp;&nbsp; 3/25/55 | &nbsp;&nbsp; 2191077<br>| &nbsp;&nbsp;&nbsp; 2188589<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Greystone CRE Notes Ltd., 2021-HC2 A (1 mo. Term SOFR + 1.914%) | &nbsp;&nbsp; 6.256% | &nbsp;&nbsp; 12/15/39 | &nbsp;&nbsp; 566033<br>| &nbsp;&nbsp;&nbsp; 567257<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; TRTX Issuer Ltd., 2021-FL4 A (1 mo. Term SOFR + 1.314%) | &nbsp;&nbsp; 5.658% | &nbsp;&nbsp; 3/15/38 | &nbsp;&nbsp; 665864<br>| &nbsp;&nbsp;&nbsp; 665439<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; TRTX Issuer Ltd., 2025-FL6 C (1 mo. Term SOFR + 2.396%) | &nbsp;&nbsp; 6.746% | &nbsp;&nbsp; 9/18/42 | &nbsp;&nbsp; 1190000<br>| &nbsp;&nbsp;&nbsp; 1178729<br> <sup>(b)(c)</sup><br>|
| **Total Collateralized Mortgage Obligations (Cost — $21,838,564)** | **Total Collateralized Mortgage Obligations (Cost — $21,838,564)** | **Total Collateralized Mortgage Obligations (Cost — $21,838,564)** | **Total Collateralized Mortgage Obligations (Cost — $21,838,564)** | &nbsp;&nbsp; **21817155** |
| **U.S. Government & Agency Obligations — 19.9%** | **U.S. Government & Agency Obligations — 19.9%** | **U.S. Government & Agency Obligations — 19.9%** | **U.S. Government & Agency Obligations — 19.9%** | **U.S. Government & Agency Obligations — 19.9%** |
| *U.S. Government Obligations — 19.9%* | *U.S. Government Obligations — 19.9%* | *U.S. Government Obligations — 19.9%* | *U.S. Government Obligations — 19.9%* | *U.S. Government Obligations — 19.9%* |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes (3 mo. U.S. Treasury Money Market Yield + 0.098%) | &nbsp;&nbsp; 4.379% | &nbsp;&nbsp; 1/31/27 | &nbsp;&nbsp; 5450000 | &nbsp;&nbsp;&nbsp; 5449330<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes (3 mo. U.S. Treasury Money Market Yield + 0.160%) | &nbsp;&nbsp; 4.441% | &nbsp;&nbsp; 4/30/27 | &nbsp;&nbsp; 8760000 | &nbsp;&nbsp;&nbsp; 8765910<br> <sup>(b)</sup><br>|
| **Total U.S. Government & Agency Obligations (Cost — $14,214,364)** | **Total U.S. Government & Agency Obligations (Cost — $14,214,364)** | **Total U.S. Government & Agency Obligations (Cost — $14,214,364)** | **Total U.S. Government & Agency Obligations (Cost — $14,214,364)** | &nbsp;&nbsp; **14215240** |
| **Corporate Bonds & Notes — 19.8%** | **Corporate Bonds & Notes — 19.8%** | **Corporate Bonds & Notes — 19.8%** | **Corporate Bonds & Notes — 19.8%** | **Corporate Bonds & Notes — 19.8%** |
| **Consumer Discretionary — 5.9%** | **Consumer Discretionary — 5.9%** | **Consumer Discretionary — 5.9%** | **Consumer Discretionary — 5.9%** | **Consumer Discretionary — 5.9%** |
| *Automobiles — 4.1%* | *Automobiles — 4.1%* | *Automobiles — 4.1%* | *Automobiles — 4.1%* | *Automobiles — 4.1%* |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co. Inc., Senior Notes | &nbsp;&nbsp; 5.400% | &nbsp;&nbsp; 4/6/26 | &nbsp;&nbsp; 1430000<br>| &nbsp;&nbsp;&nbsp; 1436857<br>|
| &nbsp;&nbsp;&nbsp; Toyota Motor Credit Corp., Senior Notes | &nbsp;&nbsp; 4.450% | &nbsp;&nbsp; 5/18/26 | &nbsp;&nbsp; 1510000<br>| &nbsp;&nbsp;&nbsp; 1510686<br>|
| *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | *Total Automobiles* | &nbsp;&nbsp; *2947543* |
| *Hotels, Restaurants & Leisure — 0.5%* | *Hotels, Restaurants & Leisure — 0.5%* | *Hotels, Restaurants & Leisure — 0.5%* | *Hotels, Restaurants & Leisure — 0.5%* | *Hotels, Restaurants & Leisure — 0.5%* |
| &nbsp;&nbsp;&nbsp; Travel + Leisure Co., Senior Secured Notes | &nbsp;&nbsp; 6.625% | &nbsp;&nbsp; 7/31/26 | &nbsp;&nbsp; 375000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *377996*<br> <sup>(c)</sup><br>|
| *Household Durables — 1.1%* | *Household Durables — 1.1%* | *Household Durables — 1.1%* | *Household Durables — 1.1%* | *Household Durables — 1.1%* |
| &nbsp;&nbsp;&nbsp; Century Communities Inc., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; 375000<br>| &nbsp;&nbsp;&nbsp; 375548<br>|
| &nbsp;&nbsp;&nbsp; Dream Finders Homes Inc., Senior Notes | &nbsp;&nbsp; 8.250% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 375000<br>| &nbsp;&nbsp;&nbsp; 388477<br> <sup>(c)</sup><br>|
| *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | *Total Household Durables* | &nbsp;&nbsp; *764025* |

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — Multi-Sector Opportunities Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

July 31, 2025

 **BrandywineGLOBAL — Multi-Sector Opportunities Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| *Textiles, Apparel & Luxury Goods — 0.2%* | *Textiles, Apparel & Luxury Goods — 0.2%* | *Textiles, Apparel & Luxury Goods — 0.2%* | *Textiles, Apparel & Luxury Goods — 0.2%* | *Textiles, Apparel & Luxury Goods — 0.2%* |
| &nbsp;&nbsp;&nbsp; Saks Global Enterprises LLC, Senior Secured Notes | &nbsp;&nbsp; 11.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; $470000<br>| &nbsp;&nbsp;&nbsp; $*108100*<br> <sup>(c)</sup><br>|
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **4197664** |
| **Energy — 2.7%** | **Energy — 2.7%** | **Energy — 2.7%** | **Energy — 2.7%** | **Energy — 2.7%** |
| *Oil, Gas & Consumable Fuels — 2.7%* | *Oil, Gas & Consumable Fuels — 2.7%* | *Oil, Gas & Consumable Fuels — 2.7%* | *Oil, Gas & Consumable Fuels — 2.7%* | *Oil, Gas & Consumable Fuels — 2.7%* |
| &nbsp;&nbsp;&nbsp; BP Capital Markets PLC, Senior Notes (4.375% to 9/22/25 then 5 year Treasury <br> Constant Maturity Rate + 4.036%) | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 9/22/25 | &nbsp;&nbsp; 430000<br>| &nbsp;&nbsp;&nbsp; 430447<br> <sup>(b)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; NFE Financing LLC, Senior Secured Notes | &nbsp;&nbsp; 12.000% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; 969000<br>| &nbsp;&nbsp;&nbsp; 344247<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 3/13/27 | &nbsp;&nbsp; 780000<br>| &nbsp;&nbsp;&nbsp; 780795<br>|
| &nbsp;&nbsp;&nbsp; Petroleos Mexicanos, Senior Notes | &nbsp;&nbsp; 6.950% | &nbsp;&nbsp; 1/28/60 | &nbsp;&nbsp; 490000<br>| &nbsp;&nbsp;&nbsp; 378533<br>|
| **Total Energy** | **Total Energy** | **Total Energy** | **Total Energy** | &nbsp;&nbsp; **1934022** |
| **Financials — 9.4%** | **Financials — 9.4%** | **Financials — 9.4%** | **Financials — 9.4%** | **Financials — 9.4%** |
| *Banks — 5.1%* | *Banks — 5.1%* | *Banks — 5.1%* | *Banks — 5.1%* | *Banks — 5.1%* |
| &nbsp;&nbsp;&nbsp; Citigroup Inc., Junior Subordinated Notes (3.875% to 2/18/26 then 5 year <br> Treasury Constant Maturity Rate + 3.417%) | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 2/18/26 | &nbsp;&nbsp; 1590000<br>| &nbsp;&nbsp;&nbsp; 1575283<br> <sup>(b)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Toronto-Dominion Bank, Senior Notes | &nbsp;&nbsp; 4.568% | &nbsp;&nbsp; 12/17/26 | &nbsp;&nbsp; 1330000<br>| &nbsp;&nbsp;&nbsp; 1332504<br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo & Co., Junior Subordinated Notes (3.900% to 3/15/26 then 5 year <br> Treasury Constant Maturity Rate + 3.453%) | &nbsp;&nbsp; 3.900% | &nbsp;&nbsp; 3/15/26 | &nbsp;&nbsp; 739000<br>| &nbsp;&nbsp;&nbsp; 732567<br> <sup>(b)(d)</sup><br>|
| *Total Banks* | *Total Banks* | *Total Banks* | *Total Banks* | &nbsp;&nbsp; *3640354* |
| *Capital Markets — 2.0%* | *Capital Markets — 2.0%* | *Capital Markets — 2.0%* | *Capital Markets — 2.0%* | *Capital Markets — 2.0%* |
| &nbsp;&nbsp;&nbsp; Blue Owl Credit Income Corp., Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 9/16/27 | &nbsp;&nbsp; 980000<br>| &nbsp;&nbsp;&nbsp; 1024626<br>|
| &nbsp;&nbsp;&nbsp; Charles Schwab Corp., Junior Subordinated Notes (4.000% to 6/1/26 then 5 year <br> Treasury Constant Maturity Rate + 3.168%) | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/26 | &nbsp;&nbsp; 410000<br>| &nbsp;&nbsp;&nbsp; 404673<br> <sup>(b)(d)</sup><br>|
| *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | *Total Capital Markets* | &nbsp;&nbsp; *1429299* |
| *Consumer Finance — 2.3%* | *Consumer Finance — 2.3%* | *Consumer Finance — 2.3%* | *Consumer Finance — 2.3%* | *Consumer Finance — 2.3%* |
| &nbsp;&nbsp;&nbsp; Ally Financial Inc., Junior Subordinated Notes (4.700% to 5/15/26 then 5 year <br> Treasury Constant Maturity Rate + 3.868%) | &nbsp;&nbsp; 4.700% | &nbsp;&nbsp; 5/15/26 | &nbsp;&nbsp; 830000<br>| &nbsp;&nbsp;&nbsp; 808298<br> <sup>(b)(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; American Express Co., Junior Subordinated Notes (3.550% to 9/15/26 then 5 year <br> Treasury Constant Maturity Rate + 2.854%) | &nbsp;&nbsp; 3.550% | &nbsp;&nbsp; 9/15/26 | &nbsp;&nbsp; 820000<br>| &nbsp;&nbsp;&nbsp; 803504<br> <sup>(b)(d)</sup><br>|
| *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | *Total Consumer Finance* | &nbsp;&nbsp; *1611802* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **6681455** |
| **Industrials — 0.7%** | **Industrials — 0.7%** | **Industrials — 0.7%** | **Industrials — 0.7%** | **Industrials — 0.7%** |
| *Trading Companies & Distributors — 0.7%* | *Trading Companies & Distributors — 0.7%* | *Trading Companies & Distributors — 0.7%* | *Trading Companies & Distributors — 0.7%* | *Trading Companies & Distributors — 0.7%* |
| &nbsp;&nbsp;&nbsp; Aircastle Ltd., Junior Subordinated Notes (5.250% to 9/15/26 then 5 year <br> Treasury Constant Maturity Rate + 4.410%) | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 6/15/26 | &nbsp;&nbsp; 521000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **518697**<br> <sup>(b)(c)(d)</sup><br>|
| **Information Technology — 0.7%** | **Information Technology — 0.7%** | **Information Technology — 0.7%** | **Information Technology — 0.7%** | **Information Technology — 0.7%** |
| *Electronic Equipment, Instruments & Components — 0.7%* | *Electronic Equipment, Instruments & Components — 0.7%* | *Electronic Equipment, Instruments & Components — 0.7%* | *Electronic Equipment, Instruments & Components — 0.7%* | *Electronic Equipment, Instruments & Components — 0.7%* |
| &nbsp;&nbsp;&nbsp; Jabil Inc., Senior Notes | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 1/15/31 | &nbsp;&nbsp; 590000<br>| &nbsp;&nbsp;&nbsp; **536370**<br>|
| **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** | **Real Estate — 0.4%** |
| *Diversified REITs — 0.4%* | *Diversified REITs — 0.4%* | *Diversified REITs — 0.4%* | *Diversified REITs — 0.4%* | *Diversified REITs — 0.4%* |
| &nbsp;&nbsp;&nbsp; Trust Fibra Uno, Senior Notes | &nbsp;&nbsp; 7.700% | &nbsp;&nbsp; 1/23/32 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **285519**<br> <sup>(c)</sup><br>|
| **Total Corporate Bonds & Notes (Cost — $14,966,422)** | **Total Corporate Bonds & Notes (Cost — $14,966,422)** | **Total Corporate Bonds & Notes (Cost — $14,966,422)** | **Total Corporate Bonds & Notes (Cost — $14,966,422)** | &nbsp;&nbsp; **14153727** |
| **Mortgage-Backed Securities — 6.1%** | **Mortgage-Backed Securities — 6.1%** | **Mortgage-Backed Securities — 6.1%** | **Mortgage-Backed Securities — 6.1%** | **Mortgage-Backed Securities — 6.1%** |
| *GNMA — 6.1%* | *GNMA — 6.1%* | *GNMA — 6.1%* | *GNMA — 6.1%* | *GNMA — 6.1%* |
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association (GNMA) II <br>(Cost — $4,304,969) | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 11/20/53- <br>2/20/55<br>| &nbsp;&nbsp; 4259990 | &nbsp;&nbsp;&nbsp; **4325682**<br>|
| **Asset-Backed Securities — 3.8%** | **Asset-Backed Securities — 3.8%** | **Asset-Backed Securities — 3.8%** | **Asset-Backed Securities — 3.8%** | **Asset-Backed Securities — 3.8%** |
| &nbsp;&nbsp;&nbsp; Cogent Ipv4 LLC, 2025-1A A2 | &nbsp;&nbsp; 6.646% | &nbsp;&nbsp; 4/25/55 | &nbsp;&nbsp; 930000<br>| &nbsp;&nbsp;&nbsp; 952249<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — Multi-Sector Opportunities Fund 2025 Quarterly Report

------

 **BrandywineGLOBAL — Multi-Sector Opportunities Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | &nbsp;&nbsp; Maturity<br> Date<br>| &nbsp;&nbsp; Face<br> Amount<br>| Value |
| **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** | **Asset-Backed Securities — continued** |
| &nbsp;&nbsp;&nbsp; Invesco CLO Ltd., 2022-1A D (3 mo. Term SOFR + 3.050%) | &nbsp;&nbsp; 7.375% | &nbsp;&nbsp; 4/20/35 | &nbsp;&nbsp; $370000<br>| &nbsp;&nbsp;&nbsp; $371209<br> <sup>(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Zayo Issuer LLC, 2025-2A A2 | &nbsp;&nbsp; 5.953% | &nbsp;&nbsp; 6/20/55 | &nbsp;&nbsp; 1380000<br>| &nbsp;&nbsp;&nbsp; 1411162<br> <sup>(c)</sup><br>|
| **Total Asset-Backed Securities (Cost — $2,713,370)** | **Total Asset-Backed Securities (Cost — $2,713,370)** | **Total Asset-Backed Securities (Cost — $2,713,370)** | **Total Asset-Backed Securities (Cost — $2,713,370)** | &nbsp;&nbsp; **2734620** |
| **Total Investments before Short-Term Investments (Cost — $58,037,689)** | **Total Investments before Short-Term Investments (Cost — $58,037,689)** | **Total Investments before Short-Term Investments (Cost — $58,037,689)** | **Total Investments before Short-Term Investments (Cost — $58,037,689)** | &nbsp;&nbsp; **57246424** |
|  |  |  | Shares |  |
| **Short-Term Investments — 13.9%** | **Short-Term Investments — 13.9%** | **Short-Term Investments — 13.9%** | **Short-Term Investments — 13.9%** | **Short-Term Investments — 13.9%** |
| &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional U.S. Treasury Reserves, Premium Shares <br> (Cost — $9,918,904)  | &nbsp;&nbsp; 4.219% |  | &nbsp;&nbsp; 9918904<br>| &nbsp;&nbsp;&nbsp;&nbsp; **9918904**<br> <sup>(e)(f)</sup><br>|
| **Total Investments — 94.0% (Cost — $67,956,593)** | **Total Investments — 94.0% (Cost — $67,956,593)** | **Total Investments — 94.0% (Cost — $67,956,593)** | **Total Investments — 94.0% (Cost — $67,956,593)** | &nbsp;&nbsp; **67165328** |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 6.0% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 6.0% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 6.0% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 6.0% | &nbsp;&nbsp;&nbsp; 4267282 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$71432610** |

---

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

<sup>(a)</sup> Collateralized mortgage obligations are secured by an underlying pool of mortgages or mortgage pass-through certificates that are structured to direct payments on underlying collateral to different series or classes of the obligations. The interest rate may change positively or inversely in relation to one or more interest rates, financial indices or other financial indicators and may be subject to an upper and/or lower limit. 

<sup>(b)</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 reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above. 

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

<sup>(d)</sup> Security has no maturity date. The date shown represents the next call date.

<sup>(e)</sup> Rate shown is one-day yield as of the end of the reporting period. 

<sup>(f)</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 voting securities of an issuer, or a company which is under common ownership or control with the Fund. At July 31, 2025, the total market value of investments in Affiliated Companies was $9,918,904 and the cost was $9,918,904 (Note 2). 

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

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| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| CAS |  | Connecticut Avenue Securities |
| CLO |  | Collateralized Loan Obligation |
| REMIC |  | Real Estate Mortgage Investment Conduit |
| SOFR |  | Secured Overnight Financing Rate |
| STRIPS |  | Separate Trading of Registered Interest and Principal Securities |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Currency <br>Purchased | Currency <br>Purchased | Currency <br>Sold | Currency <br>Sold | Counterparty | Settlement <br>Date<br>| Unrealized <br>Appreciation <br>(Depreciation)<br>|
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 8081280 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 6900000 | Goldman Sachs Group Inc. | &nbsp;&nbsp;&nbsp; 8/5/25 | $204408 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 4400000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 5036218 | JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp; 8/5/25 | &nbsp;&nbsp;&nbsp; (13285) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3835304 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3280000 | JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp; 8/5/25 | &nbsp;&nbsp;&nbsp;&nbsp; 90936 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4204213 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3590000 | JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp; 8/5/25 | &nbsp;&nbsp; 105957 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4987224 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 4400000 | JPMorgan Chase & Co. | &nbsp;&nbsp;&nbsp; 8/5/25 | &nbsp;&nbsp;&nbsp; (35709) |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp; 16760000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 19434320 | Morgan Stanley & Co. Inc. | &nbsp;&nbsp;&nbsp; 8/5/25 | &nbsp;&nbsp; (301511) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3935553 | EUR | &nbsp;&nbsp;&nbsp;&nbsp; 3370000 | UBS Securities LLC | &nbsp;&nbsp;&nbsp; 8/5/25 | &nbsp;&nbsp;&nbsp;&nbsp; 88443 |
| EUR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 441529 | Wells Fargo Securities LLC | &nbsp;&nbsp;&nbsp; 8/5/25 | &nbsp;&nbsp;&nbsp;&nbsp; (7730) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 899031 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 16500000 | HSBC Securities Inc. | &nbsp;&nbsp;&nbsp; 8/7/25 | &nbsp;&nbsp;&nbsp;&nbsp; (6317) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3417685 | ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 61100000 | HSBC Securities Inc. | &nbsp;&nbsp;&nbsp; 8/7/25 | &nbsp;&nbsp;&nbsp;&nbsp; 65156 |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 8800000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 494313 | HSBC Securities Inc. | &nbsp;&nbsp;&nbsp; 8/7/25 | &nbsp;&nbsp;&nbsp; (11461) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 13900000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 781755 | HSBC Securities Inc. | &nbsp;&nbsp;&nbsp; 8/7/25 | &nbsp;&nbsp;&nbsp; (19069) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 16100000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 905471 | HSBC Securities Inc. | &nbsp;&nbsp;&nbsp; 8/7/25 | &nbsp;&nbsp;&nbsp; (22072) |

---

See Notes to Schedule of Investments.

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BrandywineGLOBAL — Multi-Sector Opportunities Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

July 31, 2025

 **BrandywineGLOBAL — Multi-Sector Opportunities Fund**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Currency<br> Purchased | Currency<br> Purchased | Currency<br> Sold | Currency<br> Sold | Counterparty | Settlement<br> Date<br>| Unrealized<br> Appreciation<br> (Depreciation)<br>|
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 29700000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1658107 | HSBC Securities Inc. | &nbsp;&nbsp;&nbsp; 8/7/25 | $(28482) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83489 | Morgan Stanley & Co. Inc. | &nbsp;&nbsp;&nbsp; 8/7/25 | &nbsp;&nbsp;&nbsp;&nbsp; (1185) |
| ZAR | &nbsp;&nbsp;&nbsp;&nbsp; 7600000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 430763 | UBS Securities LLC | &nbsp;&nbsp;&nbsp; 8/7/25 | &nbsp;&nbsp;&nbsp; (13755) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 167843 | CNH | &nbsp;&nbsp;&nbsp;&nbsp; 1200000 | HSBC Securities Inc. | 8/27/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1073 |
| CNH | &nbsp;&nbsp;&nbsp;&nbsp; 92540000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 12985009 | JPMorgan Chase & Co. | 8/27/25 | &nbsp;&nbsp; (124251) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 12757340 | CNH | &nbsp;&nbsp;&nbsp;&nbsp; 91340000 | JPMorgan Chase & Co. | 8/27/25 | &nbsp;&nbsp;&nbsp;&nbsp; 63352 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175252 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; 1670000 | Citibank N.A. | 9/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4175 |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 12010000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 7919634 | Goldman Sachs Group Inc. | 9/12/25 | &nbsp;&nbsp; (195096) |
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 10200000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1082181 | HSBC Securities Inc. | 9/12/25 | &nbsp;&nbsp;&nbsp; (37280) |
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 48780000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 5144728 | HSBC Securities Inc. | 9/12/25 | &nbsp;&nbsp; (147643) |
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 48790000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 5136519 | HSBC Securities Inc. | 9/12/25 | &nbsp;&nbsp; (138410) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 15148493 | SEK | &nbsp;&nbsp; 144300000 | HSBC Securities Inc. | 9/12/25 | &nbsp;&nbsp; 366218 |
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 37200000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3895410 | JPMorgan Chase & Co. | 9/12/25 | &nbsp;&nbsp;&nbsp; (84595) |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 6140000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 4048962 | Morgan Stanley & Co. Inc. | 9/12/25 | &nbsp;&nbsp;&nbsp; (99864) |
| AUD | &nbsp;&nbsp;&nbsp;&nbsp; 7910000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 5159772 | Morgan Stanley & Co. Inc. | 9/12/25 | &nbsp;&nbsp;&nbsp; (72253) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 227030 | SEK | &nbsp;&nbsp;&nbsp;&nbsp; 2200000 | Morgan Stanley & Co. Inc. | 9/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 1660 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 11557200 | SEK | &nbsp;&nbsp; 110800000 | Morgan Stanley & Co. Inc. | 9/12/25 | &nbsp;&nbsp; 206708 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 482537 | AUD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 740000 | Standard Chartered PLC | 9/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 6587 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 1145627 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; 1740000 | Standard Chartered PLC | 9/12/25 | &nbsp;&nbsp;&nbsp;&nbsp; 26502 |
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 37600000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3927864 | UBS Securities LLC | 9/12/25 | &nbsp;&nbsp;&nbsp; (76072) |
| SEK | &nbsp;&nbsp;&nbsp;&nbsp; 76400000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 8081988 | UBS Securities LLC | 9/12/25 | &nbsp;&nbsp; (255475) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 15374177 | AUD | &nbsp;&nbsp;&nbsp;&nbsp; 23580000 | Wells Fargo Securities LLC | 9/12/25 | &nbsp;&nbsp; 208097 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 3818814 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; 3030000 | Barclays Bank PLC | 9/22/25 | &nbsp;&nbsp;&nbsp;&nbsp; 63254 |
| CHF | &nbsp;&nbsp;&nbsp;&nbsp; 12190000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 15279436 | Morgan Stanley & Co. Inc. | 9/22/25 | &nbsp;&nbsp; (170435) |
| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 910000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 1158716 | UBS Securities LLC | 9/22/25 | &nbsp;&nbsp;&nbsp; (30809) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5120252 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; 4160000 | UBS Securities LLC | 9/22/25 | &nbsp;&nbsp;&nbsp; (35896) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 7963336 | CHF | &nbsp;&nbsp;&nbsp;&nbsp; 6290000 | UBS Securities LLC | 9/22/25 | &nbsp;&nbsp; 167141 |
| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 126878 | Wells Fargo Securities LLC | 9/22/25 | &nbsp;&nbsp;&nbsp;&nbsp; (2932) |
| CHF | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 280000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 352229 | Wells Fargo Securities LLC | 9/22/25 | &nbsp;&nbsp;&nbsp;&nbsp; (5180) |
| JPY | &nbsp;&nbsp; 565000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3851119 | Barclays Bank PLC | 9/26/25 | &nbsp;&nbsp;&nbsp; (79841) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 14976898 | &nbsp;&nbsp; JPY | 2210000000 | Barclays Bank PLC | 9/26/25 | &nbsp;&nbsp; 225528 |
| JPY | 2897000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 20272918 | Citibank N.A. | 9/26/25 | &nbsp;&nbsp; (935941) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4867828 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 697000000 | Citibank N.A. | 9/26/25 | &nbsp;&nbsp; 215473 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5230411 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 758000000 | Citibank N.A. | 9/26/25 | &nbsp;&nbsp; 170891 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 318200 | &nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp;&nbsp; 47000000 | Morgan Stanley & Co. Inc. | 9/26/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4483 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2141965 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 306000000 | Morgan Stanley & Co. Inc. | 9/26/25 | &nbsp;&nbsp;&nbsp;&nbsp; 99468 |
| JPY | &nbsp;&nbsp; 575000000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 3925054 | Standard Chartered PLC | 9/26/25 | &nbsp;&nbsp;&nbsp; (87028) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130941 | &nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp;&nbsp; 19000000 | UBS Securities LLC | 9/26/25 | &nbsp;&nbsp;&nbsp;&nbsp; 4119 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2646373 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1940000 | HSBC Securities Inc. | 9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 82739 |
| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 80000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107195 | JPMorgan Chase & Co. | 9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; (1478) |
| GBP | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 70000 | USD | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 93704 | Morgan Stanley & Co. Inc. | 9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; (1202) |
| GBP | &nbsp;&nbsp;&nbsp;&nbsp; 4770000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 6375126 | Morgan Stanley & Co. Inc. | 9/30/25 | &nbsp;&nbsp;&nbsp; (71757) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 4007075 | GBP | &nbsp;&nbsp;&nbsp;&nbsp; 2980000 | Standard Chartered PLC | 9/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 69121 |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 5487459 | MXN | &nbsp;&nbsp; 102900000 | Citibank N.A. | 10/29/25 | &nbsp;&nbsp;&nbsp;&nbsp; 86309 |
| MXN | &nbsp;&nbsp; 102900000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 5434289 | Morgan Stanley & Co. Inc. | 10/29/25 | &nbsp;&nbsp;&nbsp; (33140) |
| USD | &nbsp;&nbsp;&nbsp;&nbsp; 2334174 | PLN | &nbsp;&nbsp;&nbsp;&nbsp; 8560000 | Citibank N.A. | 10/30/25 | &nbsp;&nbsp;&nbsp;&nbsp; 53112 |
| PLN | &nbsp;&nbsp;&nbsp;&nbsp; 8560000 | USD | &nbsp;&nbsp;&nbsp;&nbsp; 2324341 | UBS Securities LLC | 10/30/25 | &nbsp;&nbsp;&nbsp; (43278) |
| **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **$(509522)** |

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** |
| AUD |  | Australian Dollar |

---

See Notes to Schedule of Investments.

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BrandywineGLOBAL — Multi-Sector Opportunities Fund 2025 Quarterly Report

------

 **BrandywineGLOBAL — Multi-Sector Opportunities Fund**

---

| | |
|:---|:---|
| CHF | Swiss Franc |
| CNH | Chinese Offshore Yuan |
| EUR | Euro |
| GBP | British Pound |
| JPY | Japanese Yen |
| MXN | Mexican Peso |
| PLN | Polish Zloty |
| SEK | Swedish Krona |
| USD | United States Dollar |
| ZAR | South African Rand |

---

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

See Notes to Schedule of Investments.

------

BrandywineGLOBAL — Multi-Sector Opportunities Fund 2025 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

BrandywineGLOBAL — Multi-Sector Opportunities Fund (formerly BrandywineGLOBAL — Global Unconstrained Bond Fund) (the "Fund") is a separate non-diversified investment series of Legg Mason Global Asset Management Trust (the "Trust"). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the "1940 Act"), as an open-end management investment company.

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

**(a) Investment valuation.** The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund's Board of Trustees (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 — Multi-Sector Opportunities Fund 2025 Quarterly Report

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Long-Term Investments†: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; $21817155 | &nbsp;&nbsp; — | &nbsp;&nbsp; $21817155 |
| &nbsp;&nbsp;&nbsp; U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 14215240 | &nbsp;&nbsp; — | &nbsp;&nbsp; 14215240 |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 14153727 | &nbsp;&nbsp; — | &nbsp;&nbsp; 14153727 |
| &nbsp;&nbsp;&nbsp; Mortgage-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 4325682 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4325682 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 2734620 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2734620 |
| Total Long-Term Investments | &nbsp;&nbsp; — | &nbsp;&nbsp; 57246424 | &nbsp;&nbsp; — | &nbsp;&nbsp; 57246424 |
| Short-Term Investments† | &nbsp;&nbsp; $9918904 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 9918904 |
| **Total Investments** | &nbsp;&nbsp; **$9918904** | &nbsp;&nbsp; **$57246424** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$67165328** |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† | &nbsp;&nbsp; — | &nbsp;&nbsp; $2680910 | &nbsp;&nbsp; — | &nbsp;&nbsp; $2680910 |
| **Total** | &nbsp;&nbsp; **$9918904** | &nbsp;&nbsp; **$59927334** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$69846238** |
| **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† | &nbsp;&nbsp; — | &nbsp;&nbsp; $3190432 | &nbsp;&nbsp; — | &nbsp;&nbsp; $3190432 |

---

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

† See Schedule of Investments for additional detailed categorizations. <br> †† Reflects the unrealized appreciation (depreciation) of the instruments.

**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 July 31, 2025. The following transactions were effected in such company for the period ended July 31, 2025. <br>

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>October 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>October 31, <br>2024 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional U.S. <br> Treasury Reserves, <br> Premium Shares<br>| $4669045 | $108501993 | 108501993 | $103252134 | 103252134 |

---

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BrandywineGLOBAL — Multi-Sector Opportunities Fund 2025 Quarterly Report

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| (cont'd) | Realized <br>Gain (Loss)<br>| Dividend <br>Income<br>| Net Increase <br>(Decrease) in <br>Unrealized <br>Appreciation <br>(Depreciation)<br>| Affiliate <br>Value at <br>July 31, <br>2025<br>|
| Western Asset Premier <br> Institutional U.S. Treasury <br> Reserves, Premium Shares<br>|  | $124295 |  | $9918904 |

---

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BrandywineGLOBAL — Multi-Sector Opportunities Fund 2025 Quarterly Report

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## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Legg Mason Global Asset Management Trust

- **b. Investment Company Act file number:** 811-22338

- **c. CIK number of Registrant:** 0001474103

- **d. LEI of Registrant:** 549300BI5I8NVF50DG69

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

  - **Street Address 1:** 100 International Drive

  - **City:** Baltimore

  - **State:** MD

  - **Foreign country:** US

  - **Zip / Postal Code:** 21202

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

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

- **a. Name of Series:** BrandywineGLOBAL - Multi-Sector Opportunities Fund

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

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

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $77361565.34

**Total Liabilities:** $5534549.96

**Net Assets:** $71827015.38

**Cash Not Reported:** $90893.63

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 117.27832656 | **1-Year:** 1066.39065138 | **5-Year:** 3578.96637813 | **10-Year:** 943.76581364 | **30-Year:** 0.00000000

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

- **3-Month:** 21.32463287 | **1-Year:** 2465.88795683 | **5-Year:** 6098.35606840 | **10-Year:** 1383.99694972 | **30-Year:** 7.87413424

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000097872 | 0.81%                | 1.75%                | -0.58%               |
| Class ID C000097873 | 0.82%                | 1.64%                | -0.50%               |
| Class ID C000097874 | 0.81%                | 1.73%                | -0.58%               |
| Class ID C000097870 | 0.73%                | 1.77%                | -0.58%               |
| Class ID C000097875 | 0.81%                | 1.75%                | -0.49%               |
| Class ID C000116978 | 0.82%                | 1.59%                | -0.59%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-532682.15              | $759465.05                                 |
| Month 2  | $145177.08               | $1180086.12                                |
| Month 3  | $563893.34               | $-978153.53                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Government National Mortgage A                           | Ginnie Mae II Pool                                       | CUSIP: 36179YKT0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    830470 | PA      | $846242.33    | 1.18%             | 2053-11-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | ZAR/USD FORWARD                                          | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-13754.84    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | USD/CHF FORWARD                                          | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-30808.66    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                      | Petroleos Mexicanos                                      | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    490000 | PA      | $378532.35    | 0.53%             | 2060-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | EUR/USD FORWARD                                          | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $204407.91    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| TORONTO-DOMINION BANK                                    | Toronto-Dominion Bank/The                                | CUSIP: 89115A3A8<br>LEI: PT3QB789TSUIDF371261 | Long             | DBT              | CORP              | CA        |   1330000 | PA      | $1332504.48   | 1.86%             | 2026-12-17      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                               | Fannie Mae REMICS                                        | CUSIP: 3136BTLY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2546149 | PA      | $2533903.49   | 3.53%             | 2054-11-25      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                                      | American Express Co                                      | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |    820000 | PA      | $803503.49    | 1.12%             | N/A             | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED SECURITIES (NORTH AMERICA) LLC        | AUD/USD FORWARD                                          | CUSIP: 000000000<br>LEI: 5493003GCX71N8988W38 | N/A              | DFE              | CORP              | US        |         1 | NC      | $26501.87     | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | USD/EUR FORWARD                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-301511.32   | -0.42%            |  |  |  | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                      | Petroleos Mexicanos                                      | CUSIP: 71654QCG5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |    780000 | PA      | $780795.09    | 1.09%             | 2027-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JABIL INC                                                | Jabil Inc                                                | CUSIP: 466313AK9<br>LEI: 5493000CGCQY2OQU7669 | Long             | DBT              | CORP              | US        |    590000 | PA      | $536370.37    | 0.75%             | 2031-01-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | USD/EUR FORWARD                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $105956.46    | 0.15%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2023-DNA2                  | CUSIP: 35564KT66<br>LEI: 5493000IRI80KQJUNK40 | Long             | ABS-MBS          | CORP              | US        |   1590000 | PA      | $1666711.78   | 2.32%             | 2043-04-25      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | USD/SEK FORWARD                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-84595.18    | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | GBP/USD FORWARD                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $82739.06     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                              | Freddie Mac REMICS                                       | CUSIP: 3137HHG62<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |   2196618 | PA      | $2190481.03   | 3.05%             | 2054-11-25      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Invesco CLO 2022-1, Ltd.                                 | Invesco CLO 2022-1 Ltd                                   | CUSIP: 460988AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |    370000 | PA      | $371208.79    | 0.52%             | 2035-04-20      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC                              | EUR/USD FORWARD                                          | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-7730.01     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                             | JPY/USD FORWARD                                          | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-79841.29    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                                  | AUD/USD FORWARD                                          | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $6587.08      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BLUE OWL CREDIT INCOME                                   | Blue Owl Credit Income Corp                              | CUSIP: 69120VAP6<br>LEI: 5493003I42XBWPE05N35 | Long             | DBT              | CORP              | US        |    980000 | PA      | $1024626.52   | 1.43%             | 2027-09-16      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                             | USD/JPY FORWARD                                          | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $225527.63    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A                           | Ginnie Mae II Pool                                       | CUSIP: 3618N5C72<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   1023836 | PA      | $1038738.61   | 1.45%             | 2054-12-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                                  | TRTX 2021-FL4 Issuer Ltd                                 | CUSIP: 87276WAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    665864 | PA      | $665438.78    | 0.93%             | 2038-03-15      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | MXN/USD FORWARD                                          | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $86309.05     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| AIRCASTLE LTD                                            | Aircastle Ltd                                            | CUSIP: 00928QAW1<br>LEI: 549300PNK8AKY3OIKP58 | Long             | DBT              | CORP              | BM        |    521000 | PA      | $518696.92    | 0.72%             | N/A             | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                                  | GBP/USD FORWARD                                          | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $69121.10     | 0.10%             |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2022-R02             | CUSIP: 20754BAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |    601000 | PA      | $615874.99    | 0.86%             | 2042-01-25      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| NFE FINANCING LLC                                        | NFE Financing LLC                                        | CUSIP: 62909BAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    969000 | PA      | $344246.94    | 0.48%             | 2029-11-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                | CNH/USD FORWARD                                          | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-124251.05   | -0.17%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | USD/JPY FORWARD                                          | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $215473.18    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | USD/JPY FORWARD                                          | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-935941.25   | -1.30%            |  |  |  | No            |                  2 | On Loan: No      |
| BP CAPITAL MARKETS PLC                                   | BP Capital Markets PLC                                   | CUSIP: 05565QDU9<br>LEI: 549300CRVT18MXX0AG93 | Long             | DBT              | CORP              | GB        |    430000 | PA      | $430447.20    | 0.60%             | N/A             | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Zayo Issuer LLC                                          | Zayo Issuer LLC                                          | CUSIP: 98919WAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |   1380000 | PA      | $1411162.06   | 1.96%             | 2055-06-20      | Fixed         | 5.95%                 | 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        |  11753287 | NS      | $11753286.76  | 16.36%            |  |  |  | No            |                  1 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | ZAR/USD FORWARD                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-81083.10    | -0.11%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | CNH/USD FORWARD                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $63352.33     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| Cogent IPv4 LLC                                          | Cogent Ipv4 LLC                                          | CUSIP: 19240JAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    930000 | PA      | $952248.95    | 1.33%             | 2055-04-25      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | USD/ZAR FORWARD                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-6316.63     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | GBP/USD FORWARD                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-72959.05    | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | USD/ZAR FORWARD                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1184.97     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Greystone Commercial Real Esta                           | Greystone CRE Notes 2021-HC2 LTD                         | CUSIP: 39809XAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |    566033 | PA      | $567257.11    | 0.79%             | 2039-12-15      | Floating      | 6.26%                 | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | USD/JPY FORWARD                                          | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $170890.97    | 0.24%             |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | PLN/USD FORWARD                                          | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $53111.99     | 0.07%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | JPY/USD FORWARD                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $103950.86    | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | ZAR/USD FORWARD                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $65156.17     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                                 | Toyota Motor Credit Corp                                 | CUSIP: 89236TKT1<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | DBT              | CORP              | US        |   1510000 | PA      | $1510686.19   | 2.10%             | 2026-05-18      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                            | Citigroup Inc                                            | CUSIP: 172967MV0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   1590000 | PA      | $1575282.48   | 2.19%             | N/A             | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                    | Wells Fargo & Co                                         | CUSIP: 949746TD3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    739000 | PA      | $732567.15    | 1.02%             | N/A             | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2022-DNA4                  | CUSIP: 35564KXA2<br>LEI: 5493000IS4CDPWRMWB65 | Long             | ABS-MBS          | CORP              | US        |    890000 | PA      | $951446.49    | 1.32%             | 2042-05-25      | Floating      | 9.60%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2022-HQA1                  | CUSIP: 35564KTJ8<br>LEI: 5493000IRODEKU3J3Q16 | Long             | ABS-MBS          | CORP              | US        |   1010000 | PA      | $1073226.71   | 1.49%             | 2042-03-25      | Floating      | 9.60%                 | No            |                  2 | On Loan: No      |
| TPG Real Estate Finance                                  | TRTX 2025-FL6 Issuer Ltd                                 | CUSIP: 897764AG1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |   1190000 | PA      | $1178728.56   | 1.64%             | 2042-09-18      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                             | USD/CHF FORWARD                                          | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | N/A              | DFE              | CORP              | US        |         1 | NC      | $63254.38     | 0.09%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | USD/SEK FORWARD                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $366218.10    | 0.51%             |  |  |  | No            |                  2 | On Loan: No      |
| Government National Mortgage A                           | Ginnie Mae II Pool                                       | CUSIP: 3618N5GQ6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |   2405684 | PA      | $2440700.96   | 3.40%             | 2055-02-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | USD/CHF FORWARD                                          | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $131244.25    | 0.18%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | SEK/USD FORWARD                                          | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-331546.77   | -0.46%            |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY FRN                                          | United States Treasury Floating Rate Note                | CUSIP: 91282CMX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   8760000 | PA      | $8765910.28   | 12.20%            | 2027-04-30      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | USD/JPY FORWARD                                          | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4119.38      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | MXN/USD FORWARD                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-33139.70    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | USD/CHF FORWARD                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-170434.60   | -0.24%            |  |  |  | No            |                  2 | On Loan: No      |
| SAKS GLOBAL ENTERPRS LLC                                 | Saks Global Enterprises LLC                              | CUSIP: 79380MAA3<br>LEI: 5493007HQSJGRH78Q684 | Long             | DBT              | CORP              | US        |    470000 | PA      | $108100.00    | 0.15%             | 2029-12-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC                              | USD/CHF FORWARD                                          | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-8112.59     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                                  | USD/AUD FORWARD                                          | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-195095.94   | -0.27%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2023-R03             | CUSIP: 20753AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1180000 | PA      | $1255569.68   | 1.75%             | 2043-04-25      | Floating      | 8.25%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | EUR/USD FORWARD                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $55226.89     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                       | Ally Financial Inc                                       | CUSIP: 02005NBM1<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |    830000 | PA      | $808298.24    | 1.13%             | N/A             | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2022-HQA3                  | CUSIP: 35564KE47<br>LEI: 5493000IRJ8RDHSNEL96 | Long             | ABS-MBS          | CORP              | US        |   1320000 | PA      | $1384612.42   | 1.93%             | 2042-08-25      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | SEK/USD FORWARD                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-175689.88   | -0.24%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | SEK/USD FORWARD                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $208367.29    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac - STACR                                      | Freddie Mac STACR REMIC Trust 2022-HQA2                  | CUSIP: 35564KB65<br>LEI: 5493000IRLADKYZNON28 | Long             | ABS-MBS          | CORP              | US        |   1273000 | PA      | $1383406.53   | 1.93%             | 2042-07-25      | Floating      | 10.35%                | No            |                  2 | On Loan: No      |
| Fanniemae Strip                                          | Fannie Mae Interest Strip                                | CUSIP: 31424VJ88<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2191077 | PA      | $2188588.62   | 3.05%             | 2055-03-25      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO SECURITIES, LLC                              | USD/AUD FORWARD                                          | CUSIP: 000000000<br>LEI: VYVVCKR63DVZZN70PB21 | N/A              | DFE              | CORP              | US        |         1 | NC      | $208097.23    | 0.29%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | SEK/USD FORWARD                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-147643.42   | -0.21%            |  |  |  | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                                      | Charles Schwab Corp/The                                  | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |    410000 | PA      | $404672.87    | 0.56%             | N/A             | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | USD/EUR FORWARD                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-13285.07    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| J.P. MORGAN SECURITIES LLC                               | GBP/USD FORWARD                                          | CUSIP: 000000000<br>LEI: ZBUT11V806EZRVTWT807 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-1477.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| US TREASURY FRN                                          | United States Treasury Floating Rate Note                | CUSIP: 91282CMJ7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   5450000 | PA      | $5449330.36   | 7.59%             | 2027-01-31      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| HSBC SECURITIES (USA) INC.                               | USD/CNH FORWARD                                          | CUSIP: 000000000<br>LEI: CYYGQCGNHMHPSMRL3R97 | N/A              | DFE              | CORP              | US        |         1 | NC      | $1073.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                   | General Motors Financial Co Inc                          | CUSIP: 37045XEF9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1436857.09   | 2.00%             | 2026-04-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | PLN/USD FORWARD                                          | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-43278.42    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                 | USD/AUD FORWARD                                          | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-172117.33   | -0.24%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP GLOBAL MARKETS INC.                            | SEK/USD FORWARD                                          | CUSIP: 000000000<br>LEI: MBNUM2BPBDO7JBLYG310 | N/A              | DFE              | CORP              | US        |         1 | NC      | $4174.94      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED BANK                                  | USD/JPY FORWARD                                          | CUSIP: 000000000<br>LEI: RILFO74KP1CM8P6PCT96 | N/A              | DFE              | CORP              | US        |         1 | NC      | $-87027.87    | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                           | Trust Fibra Uno                                          | CUSIP: 89834JAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | MX        |    270000 | PA      | $285518.79    | 0.40%             | 2032-01-23      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| UBS Securities LLC                                       | EUR/USD FORWARD                                          | CUSIP: 000000000<br>LEI: T6FIZBDPKLYJKFCRVK44 | N/A              | DFE              | CORP              | US        |         1 | NC      | $88443.41     | 0.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Fanniemae Strip                                          | Fannie Mae Interest Strip                                | CUSIP: 31424VJ54<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |   2808156 | PA      | $2799776.75   | 3.90%             | 2055-03-25      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Fannie Mae - CAS                                         | Connecticut Avenue Securities Trust 2022-R09             | CUSIP: 20753DAF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |   1230000 | PA      | $1362132.01   | 1.90%             | 2042-09-25      | Floating      | 11.10%                | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-18

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

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer