# EDGAR Filing Document

**Accession Number:** 0001474103
**File Stem:** 0001752724-25-155390
**Filing Date:** 2025-6
**Character Count:** 36927
**Document Hash:** a9788ec43aa94cf66f23749de3dc243b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-155390.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-155390

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**PERIOD START**: 20250731

**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:** 251072457

**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

### Martin Currie SMASh Series EM Fund (Series ID: S000060200)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000197014 | Martin Currie SMASh Series EM Fund | LCSMX           |

## Nport-Ex

Schedule of Investments (unaudited)

April 30, 2025

 **Martin Currie SMASh Series EM Fund**

(Percentages shown based on Fund net assets)

---

| | | |
|:---|:---|:---|
| Security | Shares | Value |
| **Common Stocks — 97.6%** | **Common Stocks — 97.6%** | **Common Stocks — 97.6%** |
| **Communication Services — 2.0%** | **Communication Services — 2.0%** | **Communication Services — 2.0%** |
| *Wireless Telecommunication Services — 2.0%* | *Wireless Telecommunication Services — 2.0%* | *Wireless Telecommunication Services — 2.0%* |
| &nbsp;&nbsp;&nbsp; Etihad Etisalat Co. | &nbsp;&nbsp; 1301660 | &nbsp;&nbsp;&nbsp; **$21792945**<br>|
| **Consumer Discretionary — 13.6%** | **Consumer Discretionary — 13.6%** | **Consumer Discretionary — 13.6%** |
| *Automobiles — 4.3%* | *Automobiles — 4.3%* | *Automobiles — 4.3%* |
| &nbsp;&nbsp;&nbsp; Mahindra & Mahindra Ltd. | &nbsp;&nbsp; 1377117 | &nbsp;&nbsp;&nbsp;&nbsp; *47713266*<br> <sup>(a)</sup><br>|
| *Broadline Retail — 3.7%* | *Broadline Retail — 3.7%* | *Broadline Retail — 3.7%* |
| &nbsp;&nbsp;&nbsp; MercadoLibre Inc. | &nbsp;&nbsp; 17262 | &nbsp;&nbsp;&nbsp; *40,235,133*<br> \*<br>|
| *Textiles, Apparel & Luxury Goods — 5.6%* | *Textiles, Apparel & Luxury Goods — 5.6%* | *Textiles, Apparel & Luxury Goods — 5.6%* |
| &nbsp;&nbsp;&nbsp; Titan Co. Ltd. | &nbsp;&nbsp; 1540319 | &nbsp;&nbsp;&nbsp;&nbsp; *61538820*<br> <sup>(a)</sup><br>|
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **149487219** |
| **Consumer Staples — 3.2%** | **Consumer Staples — 3.2%** | **Consumer Staples — 3.2%** |
| *Beverages — 1.7%* | *Beverages — 1.7%* | *Beverages — 1.7%* |
| &nbsp;&nbsp;&nbsp; Eastroc Beverage Group Co. Ltd., Class A Shares | &nbsp;&nbsp; 491600 | &nbsp;&nbsp;&nbsp;&nbsp; *19355882*<br> <sup>(a)</sup><br>|
| *Personal Care Products — 1.5%* | *Personal Care Products — 1.5%* | *Personal Care Products — 1.5%* |
| &nbsp;&nbsp;&nbsp; Proya Cosmetics Co. Ltd., Class A Shares | &nbsp;&nbsp; 1230760 | &nbsp;&nbsp;&nbsp;&nbsp; *16171760*<br> <sup>(a)</sup><br>|
| **Total Consumer Staples** | **Total Consumer Staples** | &nbsp;&nbsp; **35527642** |
| **Energy — 6.7%** | **Energy — 6.7%** | **Energy — 6.7%** |
| *Oil, Gas & Consumable Fuels — 6.7%* | *Oil, Gas & Consumable Fuels — 6.7%* | *Oil, Gas & Consumable Fuels — 6.7%* |
| &nbsp;&nbsp;&nbsp; Reliance Industries Ltd. | &nbsp;&nbsp; 4464461 | &nbsp;&nbsp;&nbsp;&nbsp; **74129358**<br> <sup>(a)</sup><br>|
| **Financials — 15.6%** | **Financials — 15.6%** | **Financials — 15.6%** |
| *Banks — 12.9%* | *Banks — 12.9%* | *Banks — 12.9%* |
| &nbsp;&nbsp;&nbsp; Al Rajhi Bank | &nbsp;&nbsp; 2207976 | &nbsp;&nbsp;&nbsp; 57358723<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Kotak Mahindra Bank Ltd. | &nbsp;&nbsp; 1797745 | &nbsp;&nbsp;&nbsp; 46985554<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Shinhan Financial Group Co. Ltd. | &nbsp;&nbsp; 1046432 | &nbsp;&nbsp;&nbsp; 37818053<br> <sup>(a)</sup><br>|
| *Total Banks* | *Total Banks* | &nbsp;&nbsp; *142162330* |
| *Capital Markets — 2.7%* | *Capital Markets — 2.7%* | *Capital Markets — 2.7%* |
| &nbsp;&nbsp;&nbsp; B3 SA - Brasil Bolsa Balcao | &nbsp;&nbsp; 12759600 | &nbsp;&nbsp;&nbsp; *29970215*<br>|
| **Total Financials** | **Total Financials** | &nbsp;&nbsp; **172132545** |
| **Health Care — 11.0%** | **Health Care — 11.0%** | **Health Care — 11.0%** |
| *Health Care Equipment & Supplies — 0.8%* | *Health Care Equipment & Supplies — 0.8%* | *Health Care Equipment & Supplies — 0.8%* |
| &nbsp;&nbsp;&nbsp; Shenzhen Mindray Bio-Medical Electronics Co. Ltd., Class A Shares | &nbsp;&nbsp; 290500 | &nbsp;&nbsp;&nbsp;&nbsp; *8785855*<br> <sup>(a)</sup><br>|
| *Health Care Providers & Services — 10.2%* | *Health Care Providers & Services — 10.2%* | *Health Care Providers & Services — 10.2%* |
| &nbsp;&nbsp;&nbsp; Apollo Hospitals Enterprise Ltd. | &nbsp;&nbsp; 745917 | &nbsp;&nbsp;&nbsp; 61653000<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Dr Sulaiman Al Habib Medical Services Group Co. | &nbsp;&nbsp; 476259 | &nbsp;&nbsp;&nbsp; 36355031<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Odontoprev SA | &nbsp;&nbsp; 7586820 | &nbsp;&nbsp;&nbsp; 14277550<br>|
| *Total Health Care Providers & Services* | *Total Health Care Providers & Services* | &nbsp;&nbsp; *112285581* |
| **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **121071436** |
| **Industrials — 6.8%** | **Industrials — 6.8%** | **Industrials — 6.8%** |
| *Electrical Equipment — 3.6%* | *Electrical Equipment — 3.6%* | *Electrical Equipment — 3.6%* |
| &nbsp;&nbsp;&nbsp; Contemporary Amperex Technology Co. Ltd., Class A Shares | &nbsp;&nbsp; 1251168 | &nbsp;&nbsp;&nbsp;&nbsp; *40004364*<br> <sup>(a)</sup><br>|
| *Machinery — 3.2%* | *Machinery — 3.2%* | *Machinery — 3.2%* |
| &nbsp;&nbsp;&nbsp; Shenzhen Inovance Technology Co. Ltd., Class A Shares | &nbsp;&nbsp; 3577446 | &nbsp;&nbsp;&nbsp;&nbsp; *35213796*<br> <sup>(a)</sup><br>|
| **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **75218160** |
| **Information Technology — 32.4%** | **Information Technology — 32.4%** | **Information Technology — 32.4%** |
| *Electronic Equipment, Instruments & Components — 2.2%* | *Electronic Equipment, Instruments & Components — 2.2%* | *Electronic Equipment, Instruments & Components — 2.2%* |
| &nbsp;&nbsp;&nbsp; Delta Electronics Inc. | &nbsp;&nbsp; 2340000 | &nbsp;&nbsp;&nbsp;&nbsp; *24519001*<br> <sup>(a)</sup><br>|

---

See Notes to Schedule of Investments.

------

Martin Currie SMASh Series EM Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

April 30, 2025

 **Martin Currie SMASh Series EM Fund**

(Percentages shown based on Fund net assets)

---

| | | | |
|:---|:---|:---|:---|
| Security |  | Shares | Value |
| *IT Services — 3.1%* | *IT Services — 3.1%* | *IT Services — 3.1%* | *IT Services — 3.1%* |
| &nbsp;&nbsp;&nbsp; Tata Consultancy Services Ltd. | &nbsp;&nbsp;&nbsp; Tata Consultancy Services Ltd. | &nbsp;&nbsp; 826137 | &nbsp;&nbsp;&nbsp; $*33722837*<br> <sup>(a)</sup><br>|
| *Semiconductors & Semiconductor Equipment — 14.3%* | *Semiconductors & Semiconductor Equipment — 14.3%* | *Semiconductors & Semiconductor Equipment — 14.3%* | *Semiconductors & Semiconductor Equipment — 14.3%* |
| &nbsp;&nbsp;&nbsp; MediaTek Inc. | &nbsp;&nbsp;&nbsp; MediaTek Inc. | &nbsp;&nbsp; 939000 | &nbsp;&nbsp;&nbsp; 39901023<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; SK Hynix Inc. | &nbsp;&nbsp;&nbsp; SK Hynix Inc. | &nbsp;&nbsp; 447412 | &nbsp;&nbsp;&nbsp; 55824981<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp;&nbsp; Taiwan Semiconductor Manufacturing Co. Ltd. | &nbsp;&nbsp; 2188000 | &nbsp;&nbsp;&nbsp; 61996004<br> <sup>(a)</sup><br>|
| *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | *Total Semiconductors & Semiconductor Equipment* | &nbsp;&nbsp; *157722008* |
| *Technology Hardware, Storage & Peripherals — 12.8%* | *Technology Hardware, Storage & Peripherals — 12.8%* | *Technology Hardware, Storage & Peripherals — 12.8%* | *Technology Hardware, Storage & Peripherals — 12.8%* |
| &nbsp;&nbsp;&nbsp; Quanta Computer Inc. | &nbsp;&nbsp;&nbsp; Quanta Computer Inc. | &nbsp;&nbsp; 3885000 | &nbsp;&nbsp;&nbsp; 29186805<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. | &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd. | &nbsp;&nbsp; 1178979 | &nbsp;&nbsp;&nbsp; 46000858<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd., Registered Shares, GDR | &nbsp;&nbsp;&nbsp; Samsung Electronics Co. Ltd., Registered Shares, GDR | &nbsp;&nbsp; 66864 | &nbsp;&nbsp;&nbsp; 65108079<br> <sup>(a)</sup><br>|
| *Total Technology Hardware, Storage & Peripherals* | *Total Technology Hardware, Storage & Peripherals* | *Total Technology Hardware, Storage & Peripherals* | &nbsp;&nbsp; *140295742* |
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **356259588** |
| **Materials — 6.3%** | **Materials — 6.3%** | **Materials — 6.3%** | **Materials — 6.3%** |
| *Construction Materials — 3.8%* | *Construction Materials — 3.8%* | *Construction Materials — 3.8%* | *Construction Materials — 3.8%* |
| &nbsp;&nbsp;&nbsp; UltraTech Cement Ltd. | &nbsp;&nbsp;&nbsp; UltraTech Cement Ltd. | &nbsp;&nbsp; 301929 | &nbsp;&nbsp;&nbsp;&nbsp; *41606593*<br> <sup>(a)</sup><br>|
| *Metals & Mining — 2.5%* | *Metals & Mining — 2.5%* | *Metals & Mining — 2.5%* | *Metals & Mining — 2.5%* |
| &nbsp;&nbsp;&nbsp; Antofagasta PLC | &nbsp;&nbsp;&nbsp; Antofagasta PLC | &nbsp;&nbsp; 1273888 | &nbsp;&nbsp;&nbsp;&nbsp; *27956150*<br> <sup>(a)</sup><br>|
| **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **69562743** |
| **Total Investments before Short-Term Investments (Cost — $980,375,855)** | **Total Investments before Short-Term Investments (Cost — $980,375,855)** | **Total Investments before Short-Term Investments (Cost — $980,375,855)** | &nbsp;&nbsp; **1075181636** |
|  | Rate |  |  |
| **Short-Term Investments — 4.2%** | **Short-Term Investments — 4.2%** | **Short-Term Investments — 4.2%** | **Short-Term Investments — 4.2%** |
| &nbsp;&nbsp;&nbsp; Western Asset Institutional U.S. Treasury Reserves, Institutional Shares <br> (Cost — $45,956,815)  | &nbsp;&nbsp; 4.162% | &nbsp;&nbsp; 45956815<br>| &nbsp;&nbsp;&nbsp;&nbsp; **45956815**<br> <sup>(b)(c)</sup><br>|
| **Total Investments — 101.8% (Cost — $1,026,332,670)** | **Total Investments — 101.8% (Cost — $1,026,332,670)** | **Total Investments — 101.8% (Cost — $1,026,332,670)** | &nbsp;&nbsp; **1121138451** |
| &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (1.8)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (1.8)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (1.8)% | &nbsp;&nbsp;&nbsp; (20225058)<br>|
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$1100913393** |

---

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

\* Non-income producing security.

<sup>(a)</sup> Security is fair valued in accordance with procedures approved by the Board of Trustees (Note 1).

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

<sup>(c)</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 April 30, 2025, the total market value of investments in Affiliated Companies was $45,956,815 and the cost was $45,956,815 (Note 2). 

&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:** |
| GDR |  | Global Depositary Receipts |

---

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.

------

Martin Currie SMASh Series EM Fund 2025 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

Martin Currie SMASh Series EM 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.

Shares of the Fund may be purchased only by or on behalf of separately managed account clients where an affiliate of Franklin Templeton Fund Adviser, LLC ("FTFA") has an agreement to serve as investment adviser or subadviser (each affiliate, a "Managed Account Adviser") to the account with the managed account program sponsor (the "Program Sponsor") (typically, a registered investment adviser or broker/dealer) or directly with the client. Shareholders of the Fund pay fees to their separately managed account sponsor, some of which are paid to affiliates of FTFA. FTFA and the subadvisers do not charge investment management fees to the Fund.

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.** 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. 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. 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"). This may include using an independent third party pricing service to adjust the value of such securities to the latest indications of fair value at 4:00 p.m. (Eastern Time).

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.

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Martin Currie SMASh Series EM Fund 2025 Quarterly Report

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

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

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

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

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

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

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

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; Common Stocks: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Communication Services | &nbsp;&nbsp; $21792945 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $21792945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumer Discretionary | &nbsp;&nbsp; 40235133 | &nbsp;&nbsp; $109252086 | &nbsp;&nbsp; — | &nbsp;&nbsp; 149487219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financials | &nbsp;&nbsp; 29970215 | &nbsp;&nbsp; 142162330 | &nbsp;&nbsp; — | &nbsp;&nbsp; 172132545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health Care | &nbsp;&nbsp; 14277550 | &nbsp;&nbsp; 106793886 | &nbsp;&nbsp; — | &nbsp;&nbsp; 121071436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Other Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; 610697491 | &nbsp;&nbsp; — | &nbsp;&nbsp; 610697491 |
| Total Long-Term Investments | &nbsp;&nbsp; 106275843 | &nbsp;&nbsp; 968905793 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1075181636 |
| Short-Term Investments† | &nbsp;&nbsp; 45956815 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 45956815 |
| **Total Investments** | &nbsp;&nbsp; **$152232658** | &nbsp;&nbsp; **$968905793** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$1121138451** |

---

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

---

| | |
|:---|:---|
| \* | As a result of the fair value pricing procedures for international equities utilized by the Fund, which account for events occurring after the close of the <br> principal market of the security but prior to the calculation of the Fund's net asset value, certain securities were classified as Level 2 within the fair value <br> hierarchy.<br>|
| † | 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 April 30, 2025. The following transactions were effected in such company for the period ended April 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>July 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>July 31, <br>2024 | Cost | Shares | Proceeds | Shares |
| Western Asset <br> Institutional U.S. <br> Treasury Reserves, <br> Institutional Shares<br>| $17950556 | $408400004 | 408400004 | $380393745 | 380393745 |

---

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Martin Currie SMASh Series EM Fund 2025 Quarterly Report

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

---

| | | | | |
|:---|:---|:---|:---|:---|
| (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>April 30, <br>2025<br>|
| Western Asset Institutional <br> U.S. Treasury Reserves, <br> Institutional Shares<br>|  | $353727 |  | $45956815 |

---

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Martin Currie SMASh Series EM 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:** Martin Currie SMASh Series EM Fund

- **b. EDGAR series identifier (if any):** S000060200

- **c. LEI of Series:** 549300B4QSPMYWW7U508

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

- **a. Date of fiscal year-end:** 2025-07-31

- **b. Date as of which information is reported:** 2025-04-30

**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:** $1107527020.63

**Total Liabilities:** $4539768.47

**Net Assets:** $1102987252.16

**Cash Not Reported:** $5449261.29

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000197014 | -1.89%               | 1.70%                | 2.34%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $14065182.84             | $-40450304.08                              |
| Month 2  | $-4541012.86             | $22670652.83                               |
| Month 3  | $-37356228.83            | $64332977.12                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Samsung Electronics Co Ltd                       | Samsung Electronics Co Ltd                       | CUSIP: 796050888<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |     66864 | NS      | $65108078.88  | 5.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Odontoprev SA                                    | Odontoprev SA                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |   7586820 | NS      | $14277549.95  | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Apollo Hospitals Enterprise Lt                   | Apollo Hospitals Enterprise Ltd                  | CUSIP: 000000000<br>LEI: 3358005YT7JQCWYLTG43 | Long             | EC               | CORP              | IN        |    745917 | NS      | $61653000.07  | 5.59%             |  |  |  | No            |                  2 | On Loan: No      |
| TSMC                                             | Taiwan Semiconductor Manufacturing Co Ltd        | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |   2188000 | NS      | $61996004.32  | 5.62%             |  |  |  | No            |                  2 | On Loan: No      |
| CATL                                             | Contemporary Amperex Technology Co Ltd           | CUSIP: 000000000<br>LEI: 300300KINDY1K0E9I032 | Long             | EC               | CORP              | CN        |   1251168 | NS      | $40004364.45  | 3.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Kotak Mahindra Bank Ltd                          | Kotak Mahindra Bank Ltd                          | CUSIP: 000000000<br>LEI: 335800E6GTTXKHXE2I75 | Long             | EC               | CORP              | IN        |   1797745 | NS      | $46985553.86  | 4.26%             |  |  |  | No            |                  2 | On Loan: No      |
| MediaTek Inc                                     | MediaTek Inc                                     | CUSIP: 000000000<br>LEI: 254900UEGBK1I4DM4E14 | Long             | EC               | CORP              | TW        |    904000 | NS      | $38413764.17  | 3.48%             |  |  |  | No            |                  2 | On Loan: No      |
| Shinhan Financial Group Co Ltd                   | Shinhan Financial Group Co Ltd                   | CUSIP: 000000000<br>LEI: 988400EB8A6G49E5KO54 | Long             | EC               | CORP              | KR        |    983895 | NS      | $35557965.20  | 3.22%             |  |  |  | No            |                  2 | On Loan: No      |
| INOVANCE                                         | Shenzhen Inovance Technology Co Ltd              | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |   3426446 | NS      | $33727460.79  | 3.06%             |  |  |  | No            |                  2 | On Loan: No      |
| MercadoLibre Inc                                 | MercadoLibre Inc                                 | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | UY        |     17262 | NS      | $40235132.70  | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Antofagasta PLC                                  | Antofagasta PLC                                  | CUSIP: 000000000<br>LEI: 213800MY6QVH4FVLD628 | Long             | EC               | CORP              | CL        |   1411094 | NS      | $30967208.89  | 2.81%             |  |  |  | No            |                  2 | On Loan: No      |
| Shenzhen Mindray Bio-Medical E                   | Shenzhen Mindray Bio-Medical Electronics Co Ltd  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |    290500 | NS      | $8785854.31   | 0.80%             |  |  |  | No            |                  2 | On Loan: No      |
| Samsung Electronics Co Ltd                       | Samsung Electronics Co Ltd                       | CUSIP: 000000000<br>LEI: 9884007ER46L6N7EI764 | Long             | EC               | CORP              | KR        |   1178979 | NS      | $46000858.58  | 4.17%             |  |  |  | No            |                  2 | On Loan: No      |
| SK Hynix Inc                                     | SK Hynix Inc                                     | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | EC               | CORP              | KR        |    447412 | NS      | $55824981.07  | 5.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Tata Consultancy Services Ltd                    | Tata Consultancy Services Ltd                    | CUSIP: 000000000<br>LEI: 335800ZJKU9GPQRE2U66 | Long             | EC               | CORP              | IN        |    782900 | NS      | $31957906.11  | 2.90%             |  |  |  | No            |                  2 | On Loan: No      |
| Quanta Computer Inc                              | Quanta Computer Inc                              | CUSIP: 000000000<br>LEI: 529900DE8BIV3XOXIK04 | Long             | EC               | CORP              | TW        |   3885000 | NS      | $29186804.87  | 2.65%             |  |  |  | No            |                  2 | On Loan: No      |
| Titan Co Ltd                                     | Titan Co Ltd                                     | CUSIP: 000000000<br>LEI: 549300RO9VJWPK37FE54 | Long             | EC               | CORP              | IN        |   1540319 | NS      | $61538820.70  | 5.58%             |  |  |  | No            |                  2 | On Loan: No      |
| Dr Sulaiman Al Habib Medical S                   | Dr Sulaiman Al Habib Medical Services Group Co   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | SA        |    452417 | NS      | $34535062.18  | 3.13%             |  |  |  | No            |                  2 | On Loan: No      |
| Mahindra & Mahindra Ltd                          | Mahindra & Mahindra Ltd                          | CUSIP: 000000000<br>LEI: 3358003B573EV4KB4Z02 | Long             | EC               | CORP              | IN        |   1307095 | NS      | $45287198.92  | 4.11%             |  |  |  | No            |                  2 | On Loan: No      |
| UltraTech Cement Ltd                             | UltraTech Cement Ltd                             | CUSIP: 000000000<br>LEI: 335800PC9O9B4BQHG814 | Long             | EC               | CORP              | IN        |    284142 | NS      | $39155498.13  | 3.55%             |  |  |  | No            |                  2 | On Loan: No      |
| Al Rajhi Bank                                    | Al Rajhi Bank                                    | CUSIP: 000000000<br>LEI: 558600BQZS4Y1DTU8589 | Long             | EC               | CORP              | SA        |   2145253 | NS      | $55729307.45  | 5.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Delta Electronics Inc                            | Delta Electronics Inc                            | CUSIP: 000000000<br>LEI: 529900UVZWNWGDLJSM52 | Long             | EC               | CORP              | TW        |   2340000 | NS      | $24519000.76  | 2.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Proya Cosmetics Co Ltd                           | Proya Cosmetics Co Ltd                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | CN        |   1230760 | NS      | $16171760.21  | 1.47%             |  |  |  | No            |                  2 | On Loan: No      |
| B3 SA - Brasil Bolsa Balcao                      | B3 SA - Brasil Bolsa Balcao                      | CUSIP: 000000000<br>LEI: 4GTK5S46E6H318LMDS44 | Long             | EC               | CORP              | BR        |  12759600 | NS      | $29970215.41  | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastroc Beverage Group Co Ltd                    | Eastroc Beverage Group Co Ltd                    | CUSIP: 000000000<br>LEI: 836800LQ338417RCIL29 | Long             | EC               | CORP              | CN        |    491600 | NS      | $19355882.32  | 1.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Western Asset Institutional US Treasury Reserves | Western Asset Institutional US Treasury Reserves | CUSIP: 52470G841<br>LEI: 549300QC7GUBE6E4RH57 | Long             | STIV             | RF                | US        |  40549782 | NS      | $40549781.74  | 3.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Reliance Industries Ltd                          | Reliance Industries Ltd                          | CUSIP: 000000000<br>LEI: 5493003UOETFYRONLG31 | Long             | EC               | CORP              | IN        |   4464461 | NS      | $74129356.78  | 6.72%             |  |  |  | No            |                  2 | On Loan: No      |
| Etihad Etisalat Co                               | Etihad Etisalat Co                               | CUSIP: 000000000<br>LEI: 2549007BA9ABDE3HVK79 | Long             | EC               | CORP              | SA        |    863846 | NS      | $14462877.08  | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-24

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

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer