# EDGAR Filing Document

**Accession Number:** 0001267902
**File Stem:** 0000940400-26-014705
**Filing Date:** 2026-4
**Character Count:** 161357
**Document Hash:** 361da154a0b3ca630f6c823fb020bb6c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-014705.hdr.sgml**: 20260424

**ACCESSION NUMBER**: 0000940400-26-014705

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260227

**FILED AS OF DATE**: 20260424

**DATE AS OF CHANGE**: 20260424

**PERIOD START**: 20261130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WESTERN ASSET INFLATION-LINKED OPPORTUNITIES & INCOME FUND
- **CENTRAL INDEX KEY:** 0001267902

**ORGANIZATION NAME:**
- **EIN:** 421607118
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-21477
- **FILM NUMBER:** 26892845

**BUSINESS ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 8887770102

**MAIL ADDRESS:**
- **STREET 1:** 620 EIGHTH AVENUE
- **STREET 2:** 47TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WESTERN ASSET/CLAYMORE INFLATION-LINKED OPPORTUNITIES & INCOME FUND
- **DATE OF NAME CHANGE:** 20090701

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WESTERN ASSET CLAYMORE INFLATION-LINKED OPPORTUNITIES & INCOME FUND
- **DATE OF NAME CHANGE:** 20070810

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WESTERN ASSET CLAYMORE US TREASURY INFLATION PRO SEC FUND 2
- **DATE OF NAME CHANGE:** 20031022

## Nport-Ex

Consolidated Schedule of Investments (unaudited)

February 28, 2026

***If you need assistance accessing this content, please reach out to your sales representative or send an email to*** <u>accessibility@franklintempleton.com.</u>

 **Western Asset Inflation-Linked Opportunities & Income Fund**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity <br>Date<br>| Face <br>Amount†<br>| Value |
| **U.S. Treasury Inflation Protected Securities — 109.5%** | **U.S. Treasury Inflation Protected Securities — 109.5%** | **U.S. Treasury Inflation Protected Securities — 109.5%** | **U.S. Treasury Inflation Protected Securities — 109.5%** | **U.S. Treasury Inflation Protected Securities — 109.5%** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds, Inflation Indexed | &nbsp;&nbsp; 2.375% | &nbsp;&nbsp; 1/15/27 | &nbsp;&nbsp; 8034500<br>| &nbsp;&nbsp;&nbsp; $8150912<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds, Inflation Indexed | &nbsp;&nbsp; 3.625% | &nbsp;&nbsp; 4/15/28 | &nbsp;&nbsp; 20035500<br>| &nbsp;&nbsp;&nbsp; 21173316<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds, Inflation Indexed | &nbsp;&nbsp; 2.500% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 30186800<br>| &nbsp;&nbsp;&nbsp; 31507450<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds, Inflation Indexed | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 114330180<br>| &nbsp;&nbsp;&nbsp; 124347897<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds, Inflation Indexed | &nbsp;&nbsp; 2.125% | &nbsp;&nbsp; 2/15/40 | &nbsp;&nbsp; 3898128<br>| &nbsp;&nbsp;&nbsp; 3968881<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds, Inflation Indexed | &nbsp;&nbsp; 0.750% | &nbsp;&nbsp; 2/15/42 | &nbsp;&nbsp; 14341200<br>| &nbsp;&nbsp;&nbsp; 11564475<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds, Inflation Indexed | &nbsp;&nbsp; 1.375% | &nbsp;&nbsp; 2/15/44 | &nbsp;&nbsp; 18492852<br>| &nbsp;&nbsp;&nbsp; 16030059<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds, Inflation Indexed | &nbsp;&nbsp; 0.750% | &nbsp;&nbsp; 2/15/45 | &nbsp;&nbsp; 46375581<br>| &nbsp;&nbsp;&nbsp; 35119726<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds, Inflation Indexed | &nbsp;&nbsp; 0.250% | &nbsp;&nbsp; 2/15/50 | &nbsp;&nbsp; 37182980<br>| &nbsp;&nbsp;&nbsp; 22414284<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Bonds, Inflation Indexed | &nbsp;&nbsp; 0.125% | &nbsp;&nbsp; 2/15/52 | &nbsp;&nbsp; 15831624<br>| &nbsp;&nbsp;&nbsp; 8783597<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 0.125% | &nbsp;&nbsp; 4/15/26 | &nbsp;&nbsp; 27184740<br>| &nbsp;&nbsp;&nbsp; 27211964<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 0.125% | &nbsp;&nbsp; 10/15/26 | &nbsp;&nbsp; 45775354<br>| &nbsp;&nbsp;&nbsp; 45859264<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 0.125% | &nbsp;&nbsp; 4/15/27 | &nbsp;&nbsp; 49351960<br>| &nbsp;&nbsp;&nbsp; 48950736<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 1.625% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 17502880<br>| &nbsp;&nbsp;&nbsp; 17790238<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 0.500% | &nbsp;&nbsp; 1/15/28 | &nbsp;&nbsp; 7882440<br>| &nbsp;&nbsp;&nbsp; 7830167<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 0.875% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 23100660<br>| &nbsp;&nbsp;&nbsp; 23057561<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 1.625% | &nbsp;&nbsp; 10/15/29 | &nbsp;&nbsp; 12358440<br>| &nbsp;&nbsp;&nbsp; 12659987<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 0.125% | &nbsp;&nbsp; 1/15/30 | &nbsp;&nbsp; 1259520<br>| &nbsp;&nbsp;&nbsp; 1215988<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 1.625% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 15269700<br>| &nbsp;&nbsp;&nbsp; 15591943<br> <sup>(a)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 1.125% | &nbsp;&nbsp; 10/15/30 | &nbsp;&nbsp; 14025340<br>| &nbsp;&nbsp;&nbsp; 14069764<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 0.125% | &nbsp;&nbsp; 7/15/31 | &nbsp;&nbsp; 7254360<br>| &nbsp;&nbsp;&nbsp; 6875697<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 0.125% | &nbsp;&nbsp; 1/15/32 | &nbsp;&nbsp; 22795695<br>| &nbsp;&nbsp;&nbsp; 21337674<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 1.125% | &nbsp;&nbsp; 1/15/33 | &nbsp;&nbsp; 39163680<br>| &nbsp;&nbsp;&nbsp; 38514896<br> <sup>(a)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 1.750% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 35843140<br>| &nbsp;&nbsp;&nbsp; 36506372<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 2.125% | &nbsp;&nbsp; 1/15/35 | &nbsp;&nbsp; 32447828<br>| &nbsp;&nbsp;&nbsp; 33810126<br>|
| &nbsp;&nbsp;&nbsp; U.S. Treasury Notes, Inflation Indexed | &nbsp;&nbsp; 1.875% | &nbsp;&nbsp; 7/15/35 | &nbsp;&nbsp; 14128940<br>| &nbsp;&nbsp;&nbsp; 14429964<br>|
| **Total U.S. Treasury Inflation Protected Securities (Cost — $660,670,437)** | **Total U.S. Treasury Inflation Protected Securities (Cost — $660,670,437)** | **Total U.S. Treasury Inflation Protected Securities (Cost — $660,670,437)** | **Total U.S. Treasury Inflation Protected Securities (Cost — $660,670,437)** | &nbsp;&nbsp; **648772938** |
| **Corporate Bonds & Notes — 8.0%** | **Corporate Bonds & Notes — 8.0%** | **Corporate Bonds & Notes — 8.0%** | **Corporate Bonds & Notes — 8.0%** | **Corporate Bonds & Notes — 8.0%** |
| **Communication Services — 0.0%††** | **Communication Services — 0.0%††** | **Communication Services — 0.0%††** | **Communication Services — 0.0%††** | **Communication Services — 0.0%††** |
| *Wireless Telecommunication Services — 0.0%††* | *Wireless Telecommunication Services — 0.0%††* | *Wireless Telecommunication Services — 0.0%††* | *Wireless Telecommunication Services — 0.0%††* | *Wireless Telecommunication Services — 0.0%††* |
| &nbsp;&nbsp;&nbsp; T-Mobile USA Inc., Senior Notes | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 4/15/27 | &nbsp;&nbsp; 100000<br>| &nbsp;&nbsp;&nbsp; **99873**<br>|
| **Consumer Discretionary — 1.0%** | **Consumer Discretionary — 1.0%** | **Consumer Discretionary — 1.0%** | **Consumer Discretionary — 1.0%** | **Consumer Discretionary — 1.0%** |
| *Broadline Retail — 0.3%* | *Broadline Retail — 0.3%* | *Broadline Retail — 0.3%* | *Broadline Retail — 0.3%* | *Broadline Retail — 0.3%* |
| &nbsp;&nbsp;&nbsp; Prosus NV, Senior Notes | &nbsp;&nbsp; 3.061% | &nbsp;&nbsp; 7/13/31 | &nbsp;&nbsp; 1900000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1754707*<br> <sup>(d)</sup><br>|
| *Hotels, Restaurants & Leisure — 0.7%* | *Hotels, Restaurants & Leisure — 0.7%* | *Hotels, Restaurants & Leisure — 0.7%* | *Hotels, Restaurants & Leisure — 0.7%* | *Hotels, Restaurants & Leisure — 0.7%* |
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 5.400% | &nbsp;&nbsp; 8/8/28 | &nbsp;&nbsp; 2480000<br>| &nbsp;&nbsp;&nbsp; 2533605<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 2.850% | &nbsp;&nbsp; 3/8/29 | &nbsp;&nbsp; 200000<br>| &nbsp;&nbsp;&nbsp; 191532<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 6/18/30 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 594162<br>|
| &nbsp;&nbsp;&nbsp; Sands China Ltd., Senior Notes | &nbsp;&nbsp; 3.250% | &nbsp;&nbsp; 8/8/31 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 559459<br>|
| *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | *Total Hotels, Restaurants & Leisure* | &nbsp;&nbsp; *3878758* |
| **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | **Total Consumer Discretionary** | &nbsp;&nbsp; **5633465** |
| **Energy — 3.5%** | **Energy — 3.5%** | **Energy — 3.5%** | **Energy — 3.5%** | **Energy — 3.5%** |
| *Oil, Gas & Consumable Fuels — 3.5%* | *Oil, Gas & Consumable Fuels — 3.5%* | *Oil, Gas & Consumable Fuels — 3.5%* | *Oil, Gas & Consumable Fuels — 3.5%* | *Oil, Gas & Consumable Fuels — 3.5%* |
| &nbsp;&nbsp;&nbsp; BP Capital Markets America Inc., Senior Notes | &nbsp;&nbsp; 3.633% | &nbsp;&nbsp; 4/6/30 | &nbsp;&nbsp; 270000<br>| &nbsp;&nbsp;&nbsp; 267282<br>|
| &nbsp;&nbsp;&nbsp; Columbia Pipelines Holding Co. LLC, Senior Notes | &nbsp;&nbsp; 6.042% | &nbsp;&nbsp; 8/15/28 | &nbsp;&nbsp; 1230000<br>| &nbsp;&nbsp;&nbsp; 1286143<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ecopetrol SA, Senior Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 11/2/31 | &nbsp;&nbsp; 1900000<br>| &nbsp;&nbsp;&nbsp; 1703508<br>|

---

See Notes to Consolidated Schedule of Investments.

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

Consolidated Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Inflation-Linked Opportunities & Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* | *Oil, Gas & Consumable Fuels — continued* |
| &nbsp;&nbsp;&nbsp; Energy Transfer LP, Senior Notes | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 1200000<br>| &nbsp;&nbsp;&nbsp; $1239648<br>|
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC, Senior Notes | &nbsp;&nbsp; 3.125% | &nbsp;&nbsp; 7/31/29 | &nbsp;&nbsp; 2880000<br>| &nbsp;&nbsp;&nbsp; 2814042<br>|
| &nbsp;&nbsp;&nbsp; EOG Resources Inc., Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 4/15/30 | &nbsp;&nbsp; 70000<br>| &nbsp;&nbsp;&nbsp; 71034<br>|
| &nbsp;&nbsp;&nbsp; EQT Corp., Senior Notes | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/15/29 | &nbsp;&nbsp; 1240000<br>| &nbsp;&nbsp;&nbsp; 1264770<br>|
| &nbsp;&nbsp;&nbsp; Occidental Petroleum Corp., Senior Notes | &nbsp;&nbsp; 6.200% | &nbsp;&nbsp; 3/15/40 | &nbsp;&nbsp; 1420000<br>| &nbsp;&nbsp;&nbsp; 1481020<br>|
| &nbsp;&nbsp;&nbsp; ONEOK Inc., Senior Notes | &nbsp;&nbsp; 5.800% | &nbsp;&nbsp; 11/1/30 | &nbsp;&nbsp; 1180000<br>| &nbsp;&nbsp;&nbsp; 1251974<br>|
| &nbsp;&nbsp;&nbsp; Petrobras Global Finance BV, Senior Notes | &nbsp;&nbsp; 5.999% | &nbsp;&nbsp; 1/27/28 | &nbsp;&nbsp; 1410000<br>| &nbsp;&nbsp;&nbsp; 1441515<br>|
| &nbsp;&nbsp;&nbsp; QazaqGaz NC JSC, Senior Notes | &nbsp;&nbsp; 4.375% | &nbsp;&nbsp; 9/26/27 | &nbsp;&nbsp; 4000000<br>| &nbsp;&nbsp;&nbsp; 3994905<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Targa Resources Corp., Senior Notes | &nbsp;&nbsp; 4.200% | &nbsp;&nbsp; 2/1/33 | &nbsp;&nbsp; 1300000<br>| &nbsp;&nbsp;&nbsp; 1262887<br>|
| &nbsp;&nbsp;&nbsp; Williams Cos. Inc., Senior Notes | &nbsp;&nbsp; 5.750% | &nbsp;&nbsp; 6/24/44 | &nbsp;&nbsp; 2350000<br>| &nbsp;&nbsp;&nbsp; 2393831<br>|
| **Total Energy** | **Total Energy** | **Total Energy** | **Total Energy** | &nbsp;&nbsp; **20472559** |
| **Financials — 0.3%** | **Financials — 0.3%** | **Financials — 0.3%** | **Financials — 0.3%** | **Financials — 0.3%** |
| *Financial Services — 0.3%* | *Financial Services — 0.3%* | *Financial Services — 0.3%* | *Financial Services — 0.3%* | *Financial Services — 0.3%* |
| &nbsp;&nbsp;&nbsp; ILFC E-Capital Trust II, Ltd. GTD | &nbsp;&nbsp; 6.600% | &nbsp;&nbsp; 12/21/65 | &nbsp;&nbsp; 2084000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **1842814**<br> <sup>(d)(e)</sup><br>|
| **Health Care — 0.3%** | **Health Care — 0.3%** | **Health Care — 0.3%** | **Health Care — 0.3%** | **Health Care — 0.3%** |
| *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* | *Pharmaceuticals — 0.3%* |
| &nbsp;&nbsp;&nbsp; Bausch Health Americas Inc., Senior Notes | &nbsp;&nbsp; 8.500% | &nbsp;&nbsp; 1/31/27 | &nbsp;&nbsp; 1970000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **1954048**<br> <sup>(d)</sup><br>|
| **Industrials — 0.5%** | **Industrials — 0.5%** | **Industrials — 0.5%** | **Industrials — 0.5%** | **Industrials — 0.5%** |
| *Aerospace & Defense — 0.5%* | *Aerospace & Defense — 0.5%* | *Aerospace & Defense — 0.5%* | *Aerospace & Defense — 0.5%* | *Aerospace & Defense — 0.5%* |
| &nbsp;&nbsp;&nbsp; General Dynamics Corp., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 4/1/40 | &nbsp;&nbsp; 30000<br>| &nbsp;&nbsp;&nbsp; 27990<br>|
| &nbsp;&nbsp;&nbsp; General Dynamics Corp., Senior Notes | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 4/1/50 | &nbsp;&nbsp; 3470000<br>| &nbsp;&nbsp;&nbsp; 3011605<br>|
| **Total Industrials** | **Total Industrials** | **Total Industrials** | **Total Industrials** | &nbsp;&nbsp; **3039595** |
| **Information Technology — 0.1%** | **Information Technology — 0.1%** | **Information Technology — 0.1%** | **Information Technology — 0.1%** | **Information Technology — 0.1%** |
| *Semiconductors & Semiconductor Equipment — 0.1%* | *Semiconductors & Semiconductor Equipment — 0.1%* | *Semiconductors & Semiconductor Equipment — 0.1%* | *Semiconductors & Semiconductor Equipment — 0.1%* | *Semiconductors & Semiconductor Equipment — 0.1%* |
| &nbsp;&nbsp;&nbsp; Broadcom Inc., Senior Notes | &nbsp;&nbsp; 3.137% | &nbsp;&nbsp; 11/15/35 | &nbsp;&nbsp; 400000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **349884**<br> <sup>(d)</sup><br>|
| **Materials — 1.8%** | **Materials — 1.8%** | **Materials — 1.8%** | **Materials — 1.8%** | **Materials — 1.8%** |
| *Metals & Mining — 1.8%* | *Metals & Mining — 1.8%* | *Metals & Mining — 1.8%* | *Metals & Mining — 1.8%* | *Metals & Mining — 1.8%* |
| &nbsp;&nbsp;&nbsp; Antofagasta PLC, Senior Notes | &nbsp;&nbsp; 2.375% | &nbsp;&nbsp; 10/14/30 | &nbsp;&nbsp; 1110000<br>| &nbsp;&nbsp;&nbsp; 1009953<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Capstone Copper Corp., Senior Notes | &nbsp;&nbsp; 6.750% | &nbsp;&nbsp; 3/31/33 | &nbsp;&nbsp; 1400000<br>| &nbsp;&nbsp;&nbsp; 1447819<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Corp. Nacional del Cobre de Chile, Senior Notes | &nbsp;&nbsp; 5.529% | &nbsp;&nbsp; 1/30/37 | &nbsp;&nbsp; 910000<br>| &nbsp;&nbsp;&nbsp; 932978<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 8.000% | &nbsp;&nbsp; 3/1/33 | &nbsp;&nbsp; 670000<br>| &nbsp;&nbsp;&nbsp; 716140<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; First Quantum Minerals Ltd., Senior Notes | &nbsp;&nbsp; 7.250% | &nbsp;&nbsp; 2/15/34 | &nbsp;&nbsp; 680000<br>| &nbsp;&nbsp;&nbsp; 712522<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Glencore Finance Canada Ltd., Senior Notes | &nbsp;&nbsp; 5.550% | &nbsp;&nbsp; 10/25/42 | &nbsp;&nbsp; 2330000<br>| &nbsp;&nbsp;&nbsp; 2336375<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC, Senior Notes | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 3/27/27 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 500271<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Glencore Funding LLC, Senior Notes | &nbsp;&nbsp; 3.875% | &nbsp;&nbsp; 10/27/27 | &nbsp;&nbsp; 1630000<br>| &nbsp;&nbsp;&nbsp; 1628151<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Yamana Gold Inc., Senior Notes | &nbsp;&nbsp; 4.625% | &nbsp;&nbsp; 12/15/27 | &nbsp;&nbsp; 1360000<br>| &nbsp;&nbsp;&nbsp; 1370479<br>|
| **Total Materials** | **Total Materials** | **Total Materials** | **Total Materials** | &nbsp;&nbsp; **10654688** |
| **Utilities — 0.5%** | **Utilities — 0.5%** | **Utilities — 0.5%** | **Utilities — 0.5%** | **Utilities — 0.5%** |
| *Electric Utilities — 0.5%* | *Electric Utilities — 0.5%* | *Electric Utilities — 0.5%* | *Electric Utilities — 0.5%* | *Electric Utilities — 0.5%* |
| &nbsp;&nbsp;&nbsp; Comision Federal de Electricidad, Senior Notes | &nbsp;&nbsp; 6.045% | &nbsp;&nbsp; 1/28/34 | &nbsp;&nbsp; 1480000<br>| &nbsp;&nbsp;&nbsp; 1498500<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Constellation Energy Generation LLC, Senior Notes | &nbsp;&nbsp; 6.125% | &nbsp;&nbsp; 1/15/34 | &nbsp;&nbsp; 1590000<br>| &nbsp;&nbsp;&nbsp; 1742101<br>|
| **Total Utilities** | **Total Utilities** | **Total Utilities** | **Total Utilities** | &nbsp;&nbsp; **3240601** |
| **Total Corporate Bonds & Notes (Cost — $47,343,790)** | **Total Corporate Bonds & Notes (Cost — $47,343,790)** | **Total Corporate Bonds & Notes (Cost — $47,343,790)** | **Total Corporate Bonds & Notes (Cost — $47,343,790)** | &nbsp;&nbsp; **47287527** |
| **Collateralized Mortgage Obligations**<sup>(f)</sup> **— 7.8%** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— 7.8%** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— 7.8%** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— 7.8%** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— 7.8%** |
| &nbsp;&nbsp;&nbsp; Angel Oak Mortgage Trust, 2023-1 A1 | &nbsp;&nbsp; 4.750% | &nbsp;&nbsp; 9/26/67 | &nbsp;&nbsp; 1537327<br>| &nbsp;&nbsp;&nbsp; 1534625<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; Banc of America Funding Trust, 2015-R2 5A2 | &nbsp;&nbsp; 3.321% | &nbsp;&nbsp; 9/29/36 | &nbsp;&nbsp; 3500523<br>| &nbsp;&nbsp;&nbsp; 2904125<br> <sup>(d)(e)</sup><br>|

---

See Notes to Consolidated Schedule of Investments.

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

 **Western Asset Inflation-Linked Opportunities & Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(f)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust, 2021-B29 XA, IO | &nbsp;&nbsp; 1.010% | &nbsp;&nbsp; 9/15/54 | &nbsp;&nbsp; 8047874<br>| &nbsp;&nbsp;&nbsp; $269988<br> <sup>(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; BOCA Commercial Mortgage Trust, 2025-BOCA A (1 mo. Term SOFR + 1.600%) | &nbsp;&nbsp; 5.260% | &nbsp;&nbsp; 12/15/42 | &nbsp;&nbsp; 1080000<br>| &nbsp;&nbsp;&nbsp; 1086128<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2021-XL2 D (1 mo. Term SOFR + 1.511%) | &nbsp;&nbsp; 5.171% | &nbsp;&nbsp; 10/15/38 | &nbsp;&nbsp; 1225000<br>| &nbsp;&nbsp;&nbsp; 1225764<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2022-LP2 G (1 mo. Term SOFR + 4.106%) | &nbsp;&nbsp; 7.765% | &nbsp;&nbsp; 2/15/39 | &nbsp;&nbsp; 1274000<br>| &nbsp;&nbsp;&nbsp; 1277871<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2025-COPT A (1 mo. Term SOFR + 1.750%) | &nbsp;&nbsp; 5.410% | &nbsp;&nbsp; 8/15/42 | &nbsp;&nbsp; 1490000<br>| &nbsp;&nbsp;&nbsp; 1495534<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Commercial Mortgage Trust, 2025-SPOT E (1 mo. Term SOFR + 3.690%) | &nbsp;&nbsp; 7.350% | &nbsp;&nbsp; 4/15/40 | &nbsp;&nbsp; 2719926<br>| &nbsp;&nbsp;&nbsp; 2741782<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; BX Trust, 2022-CLS A | &nbsp;&nbsp; 5.760% | &nbsp;&nbsp; 10/13/27 | &nbsp;&nbsp; 1460000<br>| &nbsp;&nbsp;&nbsp; 1465182<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; BXMT Ltd., 2020-FL2 A (1 mo. Term SOFR + 1.264%) | &nbsp;&nbsp; 4.929% | &nbsp;&nbsp; 2/15/38 | &nbsp;&nbsp; 36682<br>| &nbsp;&nbsp;&nbsp; 36762<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Citigroup Commercial Mortgage Trust, 2023-SMRT A | &nbsp;&nbsp; 5.820% | &nbsp;&nbsp; 10/12/40 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 587884<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; CRSO Trust, 2023-BRND A | &nbsp;&nbsp; 7.121% | &nbsp;&nbsp; 7/10/40 | &nbsp;&nbsp; 750000<br>| &nbsp;&nbsp;&nbsp; 781108<br>|
| &nbsp;&nbsp;&nbsp; Extended Stay America Trust, 2025-ESH A (1 mo. Term SOFR + 1.300%) | &nbsp;&nbsp; 4.960% | &nbsp;&nbsp; 10/15/42 | &nbsp;&nbsp; 570000<br>| &nbsp;&nbsp;&nbsp; 571465<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2021-DNA1 B1 (30 Day Average SOFR + 2.650%) | &nbsp;&nbsp; 6.317% | &nbsp;&nbsp; 1/25/51 | &nbsp;&nbsp; 1176000<br>| &nbsp;&nbsp;&nbsp; 1243186<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2022-DNA5 M1B (30 Day Average SOFR + 4.500%) | &nbsp;&nbsp; 8.167% | &nbsp;&nbsp; 6/25/42 | &nbsp;&nbsp; 1820000<br>| &nbsp;&nbsp;&nbsp; 1902607<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2023-DNA1 M1A (30 Day Average SOFR + 2.100%) | &nbsp;&nbsp; 5.768% | &nbsp;&nbsp; 3/25/43 | &nbsp;&nbsp; 379690<br>| &nbsp;&nbsp;&nbsp; 383891<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2023-DNA2 M1A (30 Day Average SOFR + 2.100%) | &nbsp;&nbsp; 5.768% | &nbsp;&nbsp; 4/25/43 | &nbsp;&nbsp; 897241<br>| &nbsp;&nbsp;&nbsp; 909907<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit <br> Risk Trust, 2024-DNA1 M2 (30 Day Average SOFR + 1.950%) | &nbsp;&nbsp; 5.617% | &nbsp;&nbsp; 2/25/44 | &nbsp;&nbsp; 1850000<br>| &nbsp;&nbsp;&nbsp; 1870728<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk Transfer Trust, <br> 2016-1 M2 | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 9/25/55 | &nbsp;&nbsp; 757805<br>| &nbsp;&nbsp;&nbsp; 713135<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2019-R05 1B1 (30 Day <br> Average SOFR + 4.214%) | &nbsp;&nbsp; 7.882% | &nbsp;&nbsp; 7/25/39 | &nbsp;&nbsp; 344493<br>| &nbsp;&nbsp;&nbsp; 348480<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2020-R01 1B1 (30 Day <br> Average SOFR + 3.364%) | &nbsp;&nbsp; 7.032% | &nbsp;&nbsp; 1/25/40 | &nbsp;&nbsp; 1660000<br>| &nbsp;&nbsp;&nbsp; 1690431<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2023-R02 1B1 (30 Day <br> Average SOFR + 5.550%) | &nbsp;&nbsp; 9.217% | &nbsp;&nbsp; 1/25/43 | &nbsp;&nbsp; 480000<br>| &nbsp;&nbsp;&nbsp; 514520<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2023-R05 1M2 (30 Day <br> Average SOFR + 3.100%) | &nbsp;&nbsp; 6.767% | &nbsp;&nbsp; 6/25/43 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 571695<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2023-R06 1M2 (30 Day <br> Average SOFR + 2.700%) | &nbsp;&nbsp; 6.367% | &nbsp;&nbsp; 7/25/43 | &nbsp;&nbsp; 790000<br>| &nbsp;&nbsp;&nbsp; 811664<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association (FNMA) — CAS, 2024-R02 1M2 (30 Day <br> Average SOFR + 1.800%) | &nbsp;&nbsp; 5.467% | &nbsp;&nbsp; 2/25/44 | &nbsp;&nbsp; 500000<br>| &nbsp;&nbsp;&nbsp; 503283<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Greystone CRE Notes Ltd., 2021-FL3 A (1 mo. Term SOFR + 1.134%) | &nbsp;&nbsp; 4.799% | &nbsp;&nbsp; 7/15/39 | &nbsp;&nbsp; 78970<br>| &nbsp;&nbsp;&nbsp; 79125<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; GS Mortgage Securities Trust, 2020-GC45 A5 | &nbsp;&nbsp; 2.911% | &nbsp;&nbsp; 2/13/53 | &nbsp;&nbsp; 380000<br>| &nbsp;&nbsp;&nbsp; 363395<br>|
| &nbsp;&nbsp;&nbsp; MAD Commercial Mortgage Trust, 2025-11MD A | &nbsp;&nbsp; 4.912% | &nbsp;&nbsp; 10/15/42 | &nbsp;&nbsp; 900000<br>| &nbsp;&nbsp;&nbsp; 914375<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; MF1 LLC, 2022-FL9 A (1 mo. Term SOFR + 2.150%) | &nbsp;&nbsp; 5.817% | &nbsp;&nbsp; 6/19/37 | &nbsp;&nbsp; 1385918<br>| &nbsp;&nbsp;&nbsp; 1386370<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; MRCD Mortgage Trust, 2019-PARK A | &nbsp;&nbsp; 2.718% | &nbsp;&nbsp; 12/15/36 | &nbsp;&nbsp; 1520000<br>| &nbsp;&nbsp;&nbsp; 1361160<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; MSWF Commercial Mortgage Trust, 2023-1 A4 | &nbsp;&nbsp; 5.472% | &nbsp;&nbsp; 5/15/56 | &nbsp;&nbsp; 330000<br>| &nbsp;&nbsp;&nbsp; 348159<br>|
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, 2016-3A B2 | &nbsp;&nbsp; 4.250% | &nbsp;&nbsp; 9/25/56 | &nbsp;&nbsp; 298985<br>| &nbsp;&nbsp;&nbsp; 296743<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, 2026-NQM3 A3 | &nbsp;&nbsp; 5.189% | &nbsp;&nbsp; 2/25/66 | &nbsp;&nbsp; 1580000<br>| &nbsp;&nbsp;&nbsp; 1584218<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; NYC Commercial Mortgage Trust, 2025-28L F | &nbsp;&nbsp; 8.130% | &nbsp;&nbsp; 11/5/38 | &nbsp;&nbsp; 2000000<br>| &nbsp;&nbsp;&nbsp; 2057034<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; OBX Trust, 2023-NQM3 A1 | &nbsp;&nbsp; 5.949% | &nbsp;&nbsp; 2/25/63 | &nbsp;&nbsp; 1194854<br>| &nbsp;&nbsp;&nbsp; 1193948<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; OBX Trust, 2024-NQM17 A3 | &nbsp;&nbsp; 6.015% | &nbsp;&nbsp; 11/25/64 | &nbsp;&nbsp; 1101880<br>| &nbsp;&nbsp;&nbsp; 1114348<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; OBX Trust, 2025-NQM4 A3 | &nbsp;&nbsp; 5.755% | &nbsp;&nbsp; 2/25/55 | &nbsp;&nbsp; 1222465<br>| &nbsp;&nbsp;&nbsp; 1233530<br> <sup>(d)</sup><br>|

---

See Notes to Consolidated Schedule of Investments.

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

Consolidated Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Inflation-Linked Opportunities & Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| **Collateralized Mortgage Obligations**<sup>(f)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— continued** | **Collateralized Mortgage Obligations**<sup>(f)</sup> **— continued** |
| &nbsp;&nbsp;&nbsp; PRKCM Trust, 2023-AFC1 A1 | &nbsp;&nbsp; 6.598% | &nbsp;&nbsp; 2/25/58 | &nbsp;&nbsp; 943875<br>| &nbsp;&nbsp;&nbsp; $942313<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; PRKCM Trust, 2024-HOME1 A1 | &nbsp;&nbsp; 6.431% | &nbsp;&nbsp; 5/25/59 | &nbsp;&nbsp; 915318<br>| &nbsp;&nbsp;&nbsp; 928727<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; PRPM Trust, 2024-NQM4 A1 | &nbsp;&nbsp; 5.674% | &nbsp;&nbsp; 12/26/69 | &nbsp;&nbsp; 534043<br>| &nbsp;&nbsp;&nbsp; 539164<br> <sup>(d)</sup><br>|
| &nbsp;&nbsp;&nbsp; SMRT, 2022-MINI A (1 mo. Term SOFR + 1.000%) | &nbsp;&nbsp; 4.660% | &nbsp;&nbsp; 1/15/39 | &nbsp;&nbsp; 390000<br>| &nbsp;&nbsp;&nbsp; 390083<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; SREIT Trust, 2021-MFP A (1 mo. Term SOFR + 0.845%) | &nbsp;&nbsp; 4.505% | &nbsp;&nbsp; 11/15/38 | &nbsp;&nbsp; 545247<br>| &nbsp;&nbsp;&nbsp; 545277<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; SREIT Trust, 2021-PALM B (1 mo. Term SOFR + 0.924%) | &nbsp;&nbsp; 4.584% | &nbsp;&nbsp; 10/15/34 | &nbsp;&nbsp; 1930000<br>| &nbsp;&nbsp;&nbsp; 1929527<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust, 2025-DATA A (1 mo. Term SOFR + 1.443%) | &nbsp;&nbsp; 5.103% | &nbsp;&nbsp; 2/15/42 | &nbsp;&nbsp; 300000<br>| &nbsp;&nbsp;&nbsp; 297817<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust, 2017-C7 A3 | &nbsp;&nbsp; 3.418% | &nbsp;&nbsp; 12/15/50 | &nbsp;&nbsp; 261106<br>| &nbsp;&nbsp;&nbsp; 258717<br>|
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust, 2022-1 B1 | &nbsp;&nbsp; 4.007% | &nbsp;&nbsp; 1/25/67 | &nbsp;&nbsp; 920000<br>| &nbsp;&nbsp;&nbsp; 764506<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; Wells Fargo Commercial Mortgage Trust, 2021-C59 XA, IO | &nbsp;&nbsp; 1.480% | &nbsp;&nbsp; 4/15/54 | &nbsp;&nbsp; 3843455<br>| &nbsp;&nbsp;&nbsp; 210410<br> <sup>(e)</sup><br>|
| **Total Collateralized Mortgage Obligations (Cost — $45,640,267)** | **Total Collateralized Mortgage Obligations (Cost — $45,640,267)** | **Total Collateralized Mortgage Obligations (Cost — $45,640,267)** | **Total Collateralized Mortgage Obligations (Cost — $45,640,267)** | &nbsp;&nbsp; **46180691** |
| **Non-U.S. Treasury Inflation Protected Securities — 3.3%** | **Non-U.S. Treasury Inflation Protected Securities — 3.3%** | **Non-U.S. Treasury Inflation Protected Securities — 3.3%** | **Non-U.S. Treasury Inflation Protected Securities — 3.3%** | **Non-U.S. Treasury Inflation Protected Securities — 3.3%** |
| *Brazil — 2.7%* | *Brazil — 2.7%* | *Brazil — 2.7%* | *Brazil — 2.7%* | *Brazil — 2.7%* |
| &nbsp;&nbsp;&nbsp; Brazil Notas do Tesouro Nacional Serie B, Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 34489420 <br><sup>BRL</sup><br>| &nbsp;&nbsp;&nbsp; 6460905<br>|
| &nbsp;&nbsp;&nbsp; Brazil Notas do Tesouro Nacional Serie B, Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 8/15/30 | &nbsp;&nbsp; 38060154 <br><sup>BRL</sup><br>| &nbsp;&nbsp;&nbsp; 7042511<br>|
| &nbsp;&nbsp;&nbsp; Brazil Notas do Tesouro Nacional Serie B, Notes | &nbsp;&nbsp; 6.000% | &nbsp;&nbsp; 8/15/50 | &nbsp;&nbsp; 13840056 <br><sup>BRL</sup><br>| &nbsp;&nbsp;&nbsp; 2425096<br>|
| *Total Brazil* | *Total Brazil* | *Total Brazil* | *Total Brazil* | &nbsp;&nbsp; *15928512* |
| *Mexico — 0.6%* | *Mexico — 0.6%* | *Mexico — 0.6%* | *Mexico — 0.6%* | *Mexico — 0.6%* |
| &nbsp;&nbsp;&nbsp; Mexican Udibonos, Bonds  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/30/28 | &nbsp;&nbsp; 65404837 <br><sup>MXN</sup><br>| &nbsp;&nbsp;&nbsp; *3800725*<br>|
| **Total Non-U.S. Treasury Inflation Protected Securities (Cost — $22,843,299)** | **Total Non-U.S. Treasury Inflation Protected Securities (Cost — $22,843,299)** | **Total Non-U.S. Treasury Inflation Protected Securities (Cost — $22,843,299)** | **Total Non-U.S. Treasury Inflation Protected Securities (Cost — $22,843,299)** | &nbsp;&nbsp; **19729237** |
| **Sovereign Bonds — 2.3%** | **Sovereign Bonds — 2.3%** | **Sovereign Bonds — 2.3%** | **Sovereign Bonds — 2.3%** | **Sovereign Bonds — 2.3%** |
| *Ecuador — 0.1%* | *Ecuador — 0.1%* | *Ecuador — 0.1%* | *Ecuador — 0.1%* | *Ecuador — 0.1%* |
| &nbsp;&nbsp;&nbsp; Ecuador Government International Bond, Senior Notes | &nbsp;&nbsp; 8.750% | &nbsp;&nbsp; 1/29/34 | &nbsp;&nbsp; 690000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *696210*<br> <sup>(d)</sup><br>|
| *Mexico — 1.4%* | *Mexico — 1.4%* | *Mexico — 1.4%* | *Mexico — 1.4%* | *Mexico — 1.4%* |
| &nbsp;&nbsp;&nbsp; Mexican Bonos, Senior Notes | &nbsp;&nbsp; 7.750% | &nbsp;&nbsp; 11/13/42 | &nbsp;&nbsp; 88280000 <br><sup>MXN</sup><br>| &nbsp;&nbsp;&nbsp; 4526564<br>|
| &nbsp;&nbsp;&nbsp; Mexico Government International Bond, Senior Notes | &nbsp;&nbsp; 5.850% | &nbsp;&nbsp; 7/2/32 | &nbsp;&nbsp; 3720000<br>| &nbsp;&nbsp;&nbsp; 3850572<br>|
| *Total Mexico* | *Total Mexico* | *Total Mexico* | *Total Mexico* | &nbsp;&nbsp; *8377136* |
| *Nigeria — 0.0%††* | *Nigeria — 0.0%††* | *Nigeria — 0.0%††* | *Nigeria — 0.0%††* | *Nigeria — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Nigeria Government International Bond, Senior Notes | &nbsp;&nbsp; 6.500% | &nbsp;&nbsp; 11/28/27 | &nbsp;&nbsp; 280000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *284502*<br> <sup>(d)</sup><br>|
| *Peru — 0.3%* | *Peru — 0.3%* | *Peru — 0.3%* | *Peru — 0.3%* | *Peru — 0.3%* |
| &nbsp;&nbsp;&nbsp; Peruvian Government International Bond, Senior Notes | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 3/30/36 | &nbsp;&nbsp; 1380000<br>| &nbsp;&nbsp;&nbsp; 1426644<br>|
| &nbsp;&nbsp;&nbsp; Peruvian Government International Bond, Senior Notes | &nbsp;&nbsp; 3.300% | &nbsp;&nbsp; 3/11/41 | &nbsp;&nbsp; 150000<br>| &nbsp;&nbsp;&nbsp; 118095<br>|
| *Total Peru* | *Total Peru* | *Total Peru* | *Total Peru* | &nbsp;&nbsp; *1544739* |
| *Supranational — 0.5%* | *Supranational — 0.5%* | *Supranational — 0.5%* | *Supranational — 0.5%* | *Supranational — 0.5%* |
| &nbsp;&nbsp;&nbsp; Inter-American Development Bank, Senior Notes | &nbsp;&nbsp; 7.350% | &nbsp;&nbsp; 10/6/30 | &nbsp;&nbsp; 251000000 <br><sup>INR</sup><br>| &nbsp;&nbsp;&nbsp; *2805864*<br>|
| **Total Sovereign Bonds (Cost — $14,272,456)** | **Total Sovereign Bonds (Cost — $14,272,456)** | **Total Sovereign Bonds (Cost — $14,272,456)** | **Total Sovereign Bonds (Cost — $14,272,456)** | &nbsp;&nbsp; **13708451** |
| **Senior Loans — 1.4%** | **Senior Loans — 1.4%** | **Senior Loans — 1.4%** | **Senior Loans — 1.4%** | **Senior Loans — 1.4%** |
| **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** | **Consumer Discretionary — 0.1%** |
| *Specialty Retail — 0.1%* | *Specialty Retail — 0.1%* | *Specialty Retail — 0.1%* | *Specialty Retail — 0.1%* | *Specialty Retail — 0.1%* |
| &nbsp;&nbsp;&nbsp; Harbor Freight Tools USA Inc., Initial Term Loan  |  | &nbsp;&nbsp; 6/11/31 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **591936**<br> <sup>(g)</sup><br>|
| **Financials — 0.5%** | **Financials — 0.5%** | **Financials — 0.5%** | **Financials — 0.5%** | **Financials — 0.5%** |
| *Capital Markets — 0.1%* | *Capital Markets — 0.1%* | *Capital Markets — 0.1%* | *Capital Markets — 0.1%* | *Capital Markets — 0.1%* |
| &nbsp;&nbsp;&nbsp; Focus Financial Partners LLC, Incremental Term Loan B  |  | &nbsp;&nbsp; 9/15/31 | &nbsp;&nbsp; 580000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *549550*<br> <sup>(g)</sup><br>|
| *Financial Services — 0.1%* | *Financial Services — 0.1%* | *Financial Services — 0.1%* | *Financial Services — 0.1%* | *Financial Services — 0.1%* |
| &nbsp;&nbsp;&nbsp; Jane Street Group LLC, Extended Term Loan  |  | &nbsp;&nbsp; 12/15/31 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *582750*<br> <sup>(g)</sup><br>|

---

See Notes to Consolidated Schedule of Investments.

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

 **Western Asset Inflation-Linked Opportunities & Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount†<br>| Value |
| *Insurance — 0.3%* | *Insurance — 0.3%* | *Insurance — 0.3%* | *Insurance — 0.3%* | *Insurance — 0.3%* |
| &nbsp;&nbsp;&nbsp; AmWINS Group Inc., 2026 Refinancing Term Loan |  | &nbsp;&nbsp; 1/30/32 | &nbsp;&nbsp; 770000<br>| &nbsp;&nbsp;&nbsp; $763262<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Asurion LLC/Asurion Co-Issuer Inc., New Term Loan B14 |  | &nbsp;&nbsp; 2/14/33 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 600597<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; HUB International Ltd., 2025 Incremental Term Loan |  | &nbsp;&nbsp; 6/20/30 | &nbsp;&nbsp; 80000<br>| &nbsp;&nbsp;&nbsp; 79254<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Sedgwick Claims Management Services Inc., 2024 Term Loan |  | &nbsp;&nbsp; 7/31/31 | &nbsp;&nbsp; 600000<br>| &nbsp;&nbsp;&nbsp; 582900<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Truist Insurance Holdings LLC, 2024 Term Loan B |  | &nbsp;&nbsp; 5/6/31 | &nbsp;&nbsp; 40000<br>| &nbsp;&nbsp;&nbsp; 39360<br> <sup>(g)</sup><br>|
| *Total Insurance* | *Total Insurance* | *Total Insurance* | *Total Insurance* | &nbsp;&nbsp; *2065373* |
| **Total Financials** | **Total Financials** | **Total Financials** | **Total Financials** | &nbsp;&nbsp; **3197673** |
| **Health Care — 0.3%** | **Health Care — 0.3%** | **Health Care — 0.3%** | **Health Care — 0.3%** | **Health Care — 0.3%** |
| *Health Care Equipment & Supplies — 0.0%††* | *Health Care Equipment & Supplies — 0.0%††* | *Health Care Equipment & Supplies — 0.0%††* | *Health Care Equipment & Supplies — 0.0%††* | *Health Care Equipment & Supplies — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Medline Borrower LP, 2028 Refinancing Term Loan  |  | &nbsp;&nbsp; 10/23/28 | &nbsp;&nbsp; 290000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *290741*<br> <sup>(g)</sup><br>|
| *Health Care Technology — 0.1%* | *Health Care Technology — 0.1%* | *Health Care Technology — 0.1%* | *Health Care Technology — 0.1%* | *Health Care Technology — 0.1%* |
| &nbsp;&nbsp;&nbsp; AthenaHealth Group Inc., Initial Term Loan  |  | &nbsp;&nbsp; 2/15/29 | &nbsp;&nbsp; 540000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *527399*<br> <sup>(g)</sup><br>|
| *Pharmaceuticals — 0.2%* | *Pharmaceuticals — 0.2%* | *Pharmaceuticals — 0.2%* | *Pharmaceuticals — 0.2%* | *Pharmaceuticals — 0.2%* |
| &nbsp;&nbsp;&nbsp; Gainwell Acquisition Corp., Term Loan B  |  | &nbsp;&nbsp; 10/1/27 | &nbsp;&nbsp; 1230000<br>| &nbsp;&nbsp;&nbsp;&nbsp; *1170038*<br> <sup>(g)</sup><br>|
| **Total Health Care** | **Total Health Care** | **Total Health Care** | **Total Health Care** | &nbsp;&nbsp; **1988178** |
| **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** | **Industrials — 0.0%††** |
| *Professional Services — 0.0%††* | *Professional Services — 0.0%††* | *Professional Services — 0.0%††* | *Professional Services — 0.0%††* | *Professional Services — 0.0%††* |
| &nbsp;&nbsp;&nbsp; CoreLogic Inc., First Lien Initial Term Loan  |  | &nbsp;&nbsp; 6/2/28 | &nbsp;&nbsp; 80000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **76200**<br> <sup>(g)</sup><br>|
| **Information Technology — 0.3%** | **Information Technology — 0.3%** | **Information Technology — 0.3%** | **Information Technology — 0.3%** | **Information Technology — 0.3%** |
| *Software — 0.3%* | *Software — 0.3%* | *Software — 0.3%* | *Software — 0.3%* | *Software — 0.3%* |
| &nbsp;&nbsp;&nbsp; Cloud Software Group Inc., Tenth Amendment Term Loan B2 |  | &nbsp;&nbsp; 3/21/31 | &nbsp;&nbsp; 618446<br>| &nbsp;&nbsp;&nbsp; 576392<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; Cloudera Inc., Term Loan |  | &nbsp;&nbsp; 10/8/28 | &nbsp;&nbsp; 550000<br>| &nbsp;&nbsp;&nbsp; 487930<br> <sup>(g)</sup><br>|
| &nbsp;&nbsp;&nbsp; UKG Inc., Term Loan B |  | &nbsp;&nbsp; 2/10/31 | &nbsp;&nbsp; 610000<br>| &nbsp;&nbsp;&nbsp; 579042<br> <sup>(g)</sup><br>|
| **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | **Total Information Technology** | &nbsp;&nbsp; **1643364** |
| **Materials — 0.2%** | **Materials — 0.2%** | **Materials — 0.2%** | **Materials — 0.2%** | **Materials — 0.2%** |
| *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* | *Containers & Packaging — 0.2%* |
| &nbsp;&nbsp;&nbsp; Clydesdale Acquisition Holdings Inc., 2025 Incremental Closing Date Term Loan B  |  | &nbsp;&nbsp; 4/1/32 | &nbsp;&nbsp; 1140000<br>| &nbsp;&nbsp;&nbsp;&nbsp; **1130025**<br> <sup>(g)</sup><br>|
| **Total Senior Loans (Cost — $8,764,281)** | **Total Senior Loans (Cost — $8,764,281)** | **Total Senior Loans (Cost — $8,764,281)** | **Total Senior Loans (Cost — $8,764,281)** | &nbsp;&nbsp; **8627376** |
| **Asset-Backed Securities — 0.1%** | **Asset-Backed Securities — 0.1%** | **Asset-Backed Securities — 0.1%** | **Asset-Backed Securities — 0.1%** | **Asset-Backed Securities — 0.1%** |
| &nbsp;&nbsp;&nbsp; Origen Manufactured Housing Contract Trust, 2007-B A1 (1 mo. Term SOFR + <br> 1.314%) | &nbsp;&nbsp; 4.974% | &nbsp;&nbsp; 10/15/37 | &nbsp;&nbsp; 108477<br>| &nbsp;&nbsp;&nbsp; 108392<br> <sup>(d)(e)</sup><br>|
| &nbsp;&nbsp;&nbsp; RASC Trust, 2006-KS1 M3 (1 mo. Term SOFR + 0.534%) | &nbsp;&nbsp; 4.418% | &nbsp;&nbsp; 2/25/36 | &nbsp;&nbsp; 447829<br>| &nbsp;&nbsp;&nbsp; 441113<br> <sup>(e)</sup><br>|
| **Total Asset-Backed Securities (Cost — $537,142)** | **Total Asset-Backed Securities (Cost — $537,142)** | **Total Asset-Backed Securities (Cost — $537,142)** | **Total Asset-Backed Securities (Cost — $537,142)** | &nbsp;&nbsp; **549505** |
| **Total Investments before Short-Term Investments (Cost — $800,071,672)** | **Total Investments before Short-Term Investments (Cost — $800,071,672)** | **Total Investments before Short-Term Investments (Cost — $800,071,672)** | **Total Investments before Short-Term Investments (Cost — $800,071,672)** | &nbsp;&nbsp; **784855725** |
|  |  |  | Shares |  |
| **Short-Term Investments — 0.9%** | **Short-Term Investments — 0.9%** | **Short-Term Investments — 0.9%** | **Short-Term Investments — 0.9%** | **Short-Term Investments — 0.9%** |
| &nbsp;&nbsp;&nbsp; Western Asset Premier Institutional Government Reserves, Premium Shares <br> (Cost — $5,271,548)  | &nbsp;&nbsp; 3.603% |  | &nbsp;&nbsp; 5271548<br>| &nbsp;&nbsp;&nbsp;&nbsp; **5271548**<br> <sup>(h)(i)</sup><br>|
| **Total Investments — 133.3% (Cost — $805,343,220)** | **Total Investments — 133.3% (Cost — $805,343,220)** | **Total Investments — 133.3% (Cost — $805,343,220)** | **Total Investments — 133.3% (Cost — $805,343,220)** | &nbsp;&nbsp; **790127273** |
| &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (33.3)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (33.3)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (33.3)% | &nbsp;&nbsp;&nbsp; Liabilities in Excess of Other Assets — (33.3)% | &nbsp;&nbsp;&nbsp; (197475538)<br>|
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$592651735** |

---

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

See Notes to Consolidated Schedule of Investments.

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

Consolidated Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Inflation-Linked Opportunities & Income Fund**

---

| | |
|:---|:---|
| † | Face amount denominated in U.S. dollars, unless otherwise noted. |
| †† | Represents less than 0.1%. |
| <sup>(a)</sup> | All or a portion of this security is held by the counterparty as collateral for open reverse repurchase agreements. |
| <sup>(b)</sup> | All or a portion of this security is held at the broker as collateral for open futures contracts.  |
| <sup>(c)</sup> | All or a portion of this security is held at the broker as collateral for open centrally cleared swap contracts. |
| <sup>(d)</sup> | Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from <br> registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Trustees.<br>|
| <sup>(e)</sup> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a <br> reference rate and spread in their description above.<br>|
| <sup>(f)</sup> | Collateralized mortgage obligations are secured by an underlying pool of mortgages or mortgage pass-through certificates that are structured to direct <br> payments on underlying collateral to different series or classes of the obligations. The interest rate may change positively or inversely in relation to one or <br> more interest rates, financial indices or other financial indicators and may be subject to an upper and/or lower limit.<br>|
| <sup>(g)</sup> | All or a portion of this loan has not settled as of February 28, 2026. Interest rates are not effective until settlement date. Interest rates shown, if any, are for <br> the settled portion of the loan.<br>|
| <sup>(h)</sup> | Rate shown is one-day yield as of the end of the reporting period.  |
| <sup>(i)</sup> | In this instance, as defined in the Investment Company Act of 1940, an "Affiliated Company" represents Fund ownership of at least 5% of the outstanding <br> voting securities of an issuer, or a company which is under common ownership or control with the Fund. At February 28, 2026, the total market value of <br> investments in Affiliated Companies was $5,271,548 and the cost was $5,271,548 (Note 2).<br>|

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| BRL |  | Brazilian Real |
| CAS |  | Connecticut Avenue Securities |
| GTD |  | Guaranteed |
| INR |  | Indian Rupee |
| IO |  | Interest Only |
| JSC |  | Joint Stock Company |
| MXN |  | Mexican Peso |
| REMIC |  | Real Estate Mortgage Investment Conduit |
| SOFR |  | Secured Overnight Financing Rate |

---

At February 28, 2026, the Fund had the following open reverse repurchase agreements:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Counterparty  | Rate | &nbsp;&nbsp;&nbsp; Effective <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Maturity <br>Date<br>| &nbsp;&nbsp;&nbsp; Face Amount <br>of Reverse <br>Repurchase <br>Agreements<br>| &nbsp;&nbsp;&nbsp;&nbsp; Asset Class <br>of Collateral\*<br>| &nbsp;&nbsp;&nbsp; Collateral <br>Value\*\*<br>|
| Morgan Stanley <br> & Co. Inc.<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3.900% | &nbsp;&nbsp;&nbsp;&nbsp; 12/5/2025 | 6/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; $197293637 | &nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Inflation Protected Securities <br>Cash<br>| &nbsp;&nbsp;&nbsp; $200103375 <br>1210000<br>|
|  |  |  |  | &nbsp;&nbsp;&nbsp; **$197293637** |  | &nbsp;&nbsp;&nbsp; **$201313375** |

---

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

\* Refer to the Consolidated Schedule of Investments for positions held at the counterparty as collateral for reverse repurchase agreements. <br> \*\* Including accrued interest.

At February 28, 2026, the Fund had the following open futures contracts:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; <br> Number of <br>Contracts<br>| &nbsp;&nbsp;&nbsp; <br> Expiration <br>Date<br>| &nbsp;&nbsp;&nbsp; <br> Notional <br>Amount<br>| &nbsp;&nbsp;&nbsp; <br> Market <br>Value<br>| &nbsp;&nbsp;&nbsp; <br> Unrealized <br>Appreciation <br>&nbsp;&nbsp;&nbsp;&nbsp;(Depreciation)<br>|
| **Contracts to Buy:** |  |  |  |  |  |
| 3-Month SOFR | &nbsp;&nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp;&nbsp;&nbsp; 6/26 | &nbsp;&nbsp;&nbsp;&nbsp; $34020071 | &nbsp;&nbsp;&nbsp;&nbsp; $33966018 | &nbsp;&nbsp;&nbsp;&nbsp; $(54053) |
| Copper | &nbsp;&nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp;&nbsp;&nbsp; 5/26 | &nbsp;&nbsp;&nbsp;&nbsp; 2960300 | &nbsp;&nbsp;&nbsp;&nbsp; 3029750 | &nbsp;&nbsp;&nbsp;&nbsp; 69450 |
| Natural Gas | &nbsp;&nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp;&nbsp;&nbsp; 5/26 | &nbsp;&nbsp;&nbsp;&nbsp; 1258030 | &nbsp;&nbsp;&nbsp;&nbsp; 1225200 | &nbsp;&nbsp;&nbsp;&nbsp; (32830) |
| U.S. Treasury 5-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 334 | &nbsp;&nbsp;&nbsp;&nbsp; 6/26 | &nbsp;&nbsp;&nbsp;&nbsp; 36633735 | &nbsp;&nbsp;&nbsp;&nbsp; 36786970 | &nbsp;&nbsp;&nbsp;&nbsp; 153235 |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; 135802 |

---

See Notes to Consolidated Schedule of Investments.

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

 **Western Asset Inflation-Linked Opportunities & Income Fund**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;&nbsp; Number of<br> Contracts<br>| &nbsp;&nbsp;&nbsp; Expiration<br> Date<br>| &nbsp;&nbsp;&nbsp; Notional<br> Amount<br>| &nbsp;&nbsp;&nbsp; Market<br> Value<br>| &nbsp;&nbsp;&nbsp; Unrealized<br> Appreciation<br> &nbsp;&nbsp;&nbsp;&nbsp;(Depreciation)<br>|
| **Contracts to Sell:** |  |  |  |  |  |
| U.S. Treasury 10-Year Notes | &nbsp;&nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp;&nbsp;&nbsp; 6/26 | &nbsp;&nbsp;&nbsp;&nbsp; $12416060 | &nbsp;&nbsp;&nbsp;&nbsp; $12519375 | &nbsp;&nbsp;&nbsp;&nbsp; $(103315) |
| U.S. Treasury Ultra Long-Term Bonds | &nbsp;&nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp;&nbsp;&nbsp; 6/26 | &nbsp;&nbsp;&nbsp;&nbsp; 15680883 | &nbsp;&nbsp;&nbsp;&nbsp; 15928781 | &nbsp;&nbsp;&nbsp;&nbsp; (247898) |
|  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; (351213) |
| **Net unrealized depreciation on open futures contracts** | **Net unrealized depreciation on open futures contracts** | **Net unrealized depreciation on open futures contracts** | **Net unrealized depreciation on open futures contracts** | **Net unrealized depreciation on open futures contracts** | &nbsp;&nbsp;&nbsp; **$(215411)** |

---

&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:** |
| SOFR |  | Secured Overnight Financing Rate |

---

At February 28, 2026, the Fund had the following open forward foreign currency contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| Currency <br>Purchased | Currency <br>Purchased | Currency <br>Sold | Currency <br>Sold | Counterparty | Settlement <br>Date<br>| Unrealized <br>Appreciation <br>(Depreciation)<br>|
| BRL | &nbsp;&nbsp; 34130191 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 6627865 | Bank of America N.A. | &nbsp;&nbsp; 3/3/26 | &nbsp;&nbsp; $22360 |
| USD | &nbsp;&nbsp; 6215208 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 34130191 | Bank of America N.A. | &nbsp;&nbsp; 3/3/26 | &nbsp;&nbsp; (435018) |
| BRL | &nbsp;&nbsp; 34130191 | &nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 6596481 | JPMorgan Chase & Co. | &nbsp;&nbsp; 3/3/26 | &nbsp;&nbsp;&nbsp;&nbsp; 53745 |
| USD | &nbsp;&nbsp; 6627865 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 34130191 | JPMorgan Chase & Co. | &nbsp;&nbsp; 3/3/26 | &nbsp;&nbsp;&nbsp; (22360) |
| USD | &nbsp;&nbsp; 7220741 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 130992904 | Bank of America N.A. | &nbsp;&nbsp; 4/16/26 | &nbsp;&nbsp; (351164) |
| USD | &nbsp;&nbsp; 2948918 | &nbsp;&nbsp; INR | &nbsp;&nbsp; 267275154 | Citibank N.A. | &nbsp;&nbsp; 4/16/26 | &nbsp;&nbsp;&nbsp;&nbsp; 22052 |
| USD | &nbsp;&nbsp; 6458791 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 34130191 | JPMorgan Chase & Co. | &nbsp;&nbsp; 6/2/26 | &nbsp;&nbsp;&nbsp; (46153) |
| **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | **Net unrealized depreciation on open forward foreign currency contracts** | &nbsp;&nbsp; **$(756538)** |

---

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

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** | **Abbreviation(s) used in this table:** |
| BRL |  | Brazilian Real |
| INR |  | Indian Rupee |
| MXN |  | Mexican Peso |
| USD |  | United States Dollar |

---

At February 28, 2026, the Fund had the following open swap contracts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  | <br> **CENTRALLY CLEARED INTEREST RATE SWAPS**  |
| &nbsp;&nbsp;&nbsp; Notional <br>Amount<br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Depreciation<br>|
| &nbsp;&nbsp;&nbsp;&nbsp; $26070000 | &nbsp;&nbsp;&nbsp;&nbsp; 11/21/30 | 2.452%\*\* | CPURNSA\*\* | &nbsp;&nbsp;&nbsp; **$(132167)** | &nbsp;&nbsp;&nbsp; **$(12596)** | &nbsp;&nbsp;&nbsp; **$(119571)** |

---

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  | <br> **CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES — SELL PROTECTION**<sup>1</sup>  |
| Reference Entity | Notional <br>Amount<sup>2</sup> <br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<sup>3</sup> <br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Depreciation<br>|
| Markit CDX.NA.HY.45 Index | $35633070 | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/30 | 5.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; $2419858 | &nbsp;&nbsp;&nbsp;&nbsp; $2493934 | &nbsp;&nbsp;&nbsp;&nbsp; $(74076) |
| Markit CDX.NA.IG.45 Index | 39165000 | &nbsp;&nbsp;&nbsp;&nbsp; 12/20/30 | 1.000% quarterly | &nbsp;&nbsp;&nbsp;&nbsp; 761837 | &nbsp;&nbsp;&nbsp;&nbsp; 811915 | &nbsp;&nbsp;&nbsp;&nbsp; (50078) |
| **Total** | **$74798070** |  |  | &nbsp;&nbsp;&nbsp; **$3181695** | &nbsp;&nbsp;&nbsp; **$3305849** | &nbsp;&nbsp;&nbsp; **$(124154)** |

---

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

See Notes to Consolidated Schedule of Investments.

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

Consolidated Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Inflation-Linked Opportunities & Income Fund**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  | <br> **OTC TOTAL RETURN SWAPS**  |
| Swap <br>Counterparty<br>| Notional <br>Amount<br>| &nbsp;&nbsp;&nbsp; Termination <br>Date<br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Made by <br>the Fund<sup>†</sup> <br>| &nbsp;&nbsp;&nbsp;&nbsp; Periodic <br>Payments <br>Received by <br>the Fund<sup>‡</sup> <br>| &nbsp;&nbsp;&nbsp; Market <br>Value<br>| &nbsp;&nbsp;&nbsp; Upfront <br>Premiums <br>Paid <br>&nbsp;&nbsp;&nbsp;&nbsp;(Received)<br>| &nbsp;&nbsp;&nbsp; Unrealized <br>Appreciation<br>|
| JPMorgan Chase & Co. | $8242000 | &nbsp;&nbsp;&nbsp;&nbsp; 4/9/26 | &nbsp;&nbsp;&nbsp;&nbsp; Daily SOFR <br>Compound + <br>1.100%\*\*<br>| JPEIFNTR^\*\* | &nbsp;&nbsp;&nbsp; **$88908** | &nbsp;&nbsp;&nbsp; **—** | &nbsp;&nbsp;&nbsp; **$88908** |

---

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

---

| | |
|:---|:---|
| <sup>1</sup> | If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to <br> the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities <br> comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the <br> recovery value of the referenced obligation or underlying securities comprising the referenced index.<br>|
| <sup>2</sup> | The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event <br> occurs as defined under the terms of that particular swap agreement.<br>|
| <sup>3</sup> | The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the <br> current status of the payment/performance risk and represent the likelihood of an expected loss (or profit) for the credit derivative had the notional amount <br> of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection), when <br> compared to the notional amount of the swap, represent a deterioration of the referenced entity's credit soundness and a greater likelihood or risk of <br> default or other credit event occurring as defined under the terms of the agreement.<br>|
| † | Percentage shown is an annual percentage rate. |
| ‡ | Periodic payments made/received by the Fund are based on the total return of the referenced entity. |
| ^ | Custom emerging markets debt basket is comprised of 41 bonds in the Sovereign Frontier sector. |
| \*\* | One time payment made at termination date. |

---

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

---

| | |
|:---|:---|
| Reference Index | Reference <br>Rate<br>|
| &nbsp;&nbsp;&nbsp; CPURNSA | 3.268% |
| &nbsp;&nbsp;&nbsp; Daily SOFR Compound | 3.680% |

---

&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:** |
| CPURNSA |  | U.S. CPI Urban Consumers NSA Index |
| JPEIFNTR |  | Western Asset Management Emerging Markets Frontier Custom Basket |
| SOFR |  | Secured Overnight Financing Rate |

---

See Notes to Consolidated Schedule of Investments.

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

 **Western Asset Inflation-Linked Opportunities & Income Fund**

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

---

| | | | |
|:---|:---|:---|:---|
| Security | &nbsp;&nbsp;&nbsp; Face <br>Amount<br>| Value | Weight |
| &nbsp;&nbsp;&nbsp; Angolan Government International Bond, 9.125% due <br> 11/26/49<br>| &nbsp;&nbsp;&nbsp;&nbsp; $11227000<br>| &nbsp;&nbsp;&nbsp;&nbsp; $9933168 | &nbsp;&nbsp;&nbsp;&nbsp; 5.18% |
| &nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond, <br> 3.500% due 7/9/41<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8269000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5776186 | &nbsp;&nbsp;&nbsp;&nbsp; 3.01% |
| &nbsp;&nbsp;&nbsp; Argentine Republic Government International Bond, <br> 5.000% due 1/9/38<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7303000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5741290 | &nbsp;&nbsp;&nbsp;&nbsp; 2.99% |
| &nbsp;&nbsp;&nbsp; Bahamas Government International Bond, 8.250% due <br> 6/24/36<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6521000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7297847 | &nbsp;&nbsp;&nbsp;&nbsp; 3.80% |
| &nbsp;&nbsp;&nbsp; Benin Government International Bond, 7.960% due 2/13/38 | &nbsp;&nbsp;&nbsp;&nbsp; 5468000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5733250 | &nbsp;&nbsp;&nbsp;&nbsp; 2.99% |
| &nbsp;&nbsp;&nbsp; Costa Rica Government International Bond, 6.550% due <br> 4/3/34<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7054000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7658880 | &nbsp;&nbsp;&nbsp;&nbsp; 3.99% |
| &nbsp;&nbsp;&nbsp; Dominican Republic International Bond, 4.500% due <br> 1/30/30<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7847000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7674366 | &nbsp;&nbsp;&nbsp;&nbsp; 4.00% |
| &nbsp;&nbsp;&nbsp; Ecuador Government International Bond, 6.900% due <br> 7/31/35<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7778430<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7057739 | &nbsp;&nbsp;&nbsp;&nbsp; 3.68% |
| &nbsp;&nbsp;&nbsp; Ecuador Government International Bond, 8.750% due <br> 1/29/34<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2617500<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2641057 | &nbsp;&nbsp;&nbsp;&nbsp; 1.38% |
| &nbsp;&nbsp;&nbsp; Egypt Government International Bond, 5.800% due 9/30/27 | &nbsp;&nbsp;&nbsp;&nbsp; 3806000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3800786 | &nbsp;&nbsp;&nbsp;&nbsp; 1.98% |
| &nbsp;&nbsp;&nbsp; Egypt Government International Bond, 7.903% due 2/21/48 | &nbsp;&nbsp;&nbsp;&nbsp; 6124000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5523848 | &nbsp;&nbsp;&nbsp;&nbsp; 2.88% |
| &nbsp;&nbsp;&nbsp; El Salvador Government International Bond, 7.125% due <br> 1/20/50<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8197000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7424433 | &nbsp;&nbsp;&nbsp;&nbsp; 3.87% |
| &nbsp;&nbsp;&nbsp; Ethiopia International Bond, 6.625% due 12/11/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 7276000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7420863 | &nbsp;&nbsp;&nbsp;&nbsp; 3.87% |
| &nbsp;&nbsp;&nbsp; Ghana Government International Bond, 5.000% due 7/3/29 | &nbsp;&nbsp;&nbsp;&nbsp; 2981000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2550494 | &nbsp;&nbsp;&nbsp;&nbsp; 1.33% |
| &nbsp;&nbsp;&nbsp; Ghana Government International Bond, 5.000% due 7/3/35 | &nbsp;&nbsp;&nbsp;&nbsp; 4267000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3860835 | &nbsp;&nbsp;&nbsp;&nbsp; 2.01% |
| &nbsp;&nbsp;&nbsp; Guatemala Government Bond, 5.375% due 4/24/32 | &nbsp;&nbsp;&nbsp;&nbsp; 6704000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6838080 | &nbsp;&nbsp;&nbsp;&nbsp; 3.56% |
| &nbsp;&nbsp;&nbsp; Ivory Coast Government International Bond, 7.625% due <br> 1/30/33<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10512000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 11258352 | &nbsp;&nbsp;&nbsp;&nbsp; 5.87% |
| &nbsp;&nbsp;&nbsp; Jordan Government International Bond, 7.500% due <br> 1/13/29<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5389000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5650043 | &nbsp;&nbsp;&nbsp;&nbsp; 2.94% |
| &nbsp;&nbsp;&nbsp; Mozambique International Bond, 9.000% due 9/15/31 | &nbsp;&nbsp;&nbsp;&nbsp; 4420000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3741530 | &nbsp;&nbsp;&nbsp;&nbsp; 1.95% |
| &nbsp;&nbsp;&nbsp; Nigeria Government International Bond, 7.375% due <br> 9/28/33<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9415000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 9546810 | &nbsp;&nbsp;&nbsp;&nbsp; 4.97% |
| &nbsp;&nbsp;&nbsp; Paraguay Government International Bond, 6.100% due <br> 8/11/44<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7380000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7676584 | &nbsp;&nbsp;&nbsp;&nbsp; 4.00% |
| &nbsp;&nbsp;&nbsp; Petroleos de Venezuela SA, 5.375% due 4/12/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp;&nbsp; 26747200<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8198016 | &nbsp;&nbsp;&nbsp;&nbsp; 4.27% |
| &nbsp;&nbsp;&nbsp; Provincia de Buenos Aires/Government Bonds, 6.625% due <br> 9/1/37<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4768517<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3348805 | &nbsp;&nbsp;&nbsp;&nbsp; 1.75% |
| &nbsp;&nbsp;&nbsp; Republic of Kenya Government International Bond, 6.300% <br> due 1/23/34<br>| &nbsp;&nbsp;&nbsp;&nbsp; 8263000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7431122 | &nbsp;&nbsp;&nbsp;&nbsp; 3.87% |
| &nbsp;&nbsp;&nbsp; Republic of South Africa Government International Bond, <br> 5.000% due 10/12/46<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7367000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5746260 | &nbsp;&nbsp;&nbsp;&nbsp; 2.99% |
| &nbsp;&nbsp;&nbsp; Republic of Uzbekistan International Bond, 3.900% due <br> 10/19/31<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5239000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4923023 | &nbsp;&nbsp;&nbsp;&nbsp; 2.57% |
| &nbsp;&nbsp;&nbsp; Senegal Government International Bond, 6.250% due <br> 5/23/33<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3222000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1987781 | &nbsp;&nbsp;&nbsp;&nbsp; 1.04% |
| &nbsp;&nbsp;&nbsp; Senegal Government International Bond, 6.750% due <br> 3/13/48<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6888000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3878839 | &nbsp;&nbsp;&nbsp;&nbsp; 2.02% |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 3.100% due <br> 1/15/30<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2528000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2520416 | &nbsp;&nbsp;&nbsp;&nbsp; 1.31% |

---

See Notes to Consolidated Schedule of Investments.

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

Consolidated Schedule of Investments (unaudited) (cont'd)

February 28, 2026

 **Western Asset Inflation-Linked Opportunities & Income Fund**

---

| | | | |
|:---|:---|:---|:---|
| Security | &nbsp;&nbsp;&nbsp; Face<br> Amount<br>| Value | Weight |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 3.350% due <br> 3/15/33<br>| &nbsp;&nbsp;&nbsp;&nbsp; $2245000<br>| &nbsp;&nbsp;&nbsp;&nbsp; $2095006 | &nbsp;&nbsp;&nbsp;&nbsp; 1.09% |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 3.600% due <br> 6/15/35<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3195000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2610315 | &nbsp;&nbsp;&nbsp;&nbsp; 1.36% |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 3.600% due <br> 5/15/36<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1067000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1062732 | &nbsp;&nbsp;&nbsp;&nbsp; 0.55% |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 3.600% due <br> 2/15/38<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1582000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1572698 | &nbsp;&nbsp;&nbsp;&nbsp; 0.82% |
| &nbsp;&nbsp;&nbsp; Sri Lanka Government International Bond, 4.000% due <br> 4/15/28<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1006000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 709102 | &nbsp;&nbsp;&nbsp;&nbsp; 0.37% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 0.000% due <br> 2/1/34<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2109000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1033410 | &nbsp;&nbsp;&nbsp;&nbsp; 0.54% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 0.000% due <br> 2/1/35<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1806000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1023099 | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 0.000% due <br> 2/1/36<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1815000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1024568 | &nbsp;&nbsp;&nbsp;&nbsp; 0.53% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 4.500% due <br> 2/1/34<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3163000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1964223 | &nbsp;&nbsp;&nbsp;&nbsp; 1.02% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 4.500% due <br> 2/1/35<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1614000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 979698 | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% |
| &nbsp;&nbsp;&nbsp; Ukraine Government International Bond, 4.500% due <br> 2/1/36<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1641000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 984600 | &nbsp;&nbsp;&nbsp;&nbsp; 0.51% |
| &nbsp;&nbsp;&nbsp; Zambia Government International Bond, 0.500% due <br> 12/31/53<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5495000<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4019922 | &nbsp;&nbsp;&nbsp;&nbsp; 2.10% |
| **Total** |  | &nbsp;&nbsp;&nbsp; **$191920076**  | &nbsp;&nbsp;&nbsp; **100.00%** |

---

<sup>(a)</sup>

The coupon payment on this security is currently in default as of February 28, 2026.

This Consolidated 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 Consolidated Schedule of Investments.

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

Notes to Consolidated Schedule of Investments (unaudited)

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

**1. Organization and significant accounting policies** 

Western Asset Inflation-Linked Opportunities & Income Fund (the "Fund") is registered under the Investment Company Act of 1940, as amended ("1940 Act"), as a diversified, closed-end management investment company. The Fund commenced operations on February 25, 2004.

The Fund's primary investment objective is to provide current income for its shareholders. Capital appreciation, when consistent with current income, is a secondary investment objective. Under normal market conditions and at the time of purchase, the Fund will invest at least 80% of its total managed assets in inflation-linked securities. The Fund may invest up to 100% of its total managed assets in non-U.S. dollar investments. The Fund may also invest up to 40% of its total managed assets in below investment grade securities. If a security is rated by multiple nationally recognized statistical rating organizations ("NRSROs") and receives different ratings, the Fund will treat the security as being rated in the highest rating category received from an NRSRO.

The Fund may gain exposure to the commodities markets by investing a portion of its assets in a wholly-owned subsidiary, Western Asset Inflation-Linked Opportunities & Income Fund CFC (the "Subsidiary"), organized under the laws of the Cayman Islands. Among other investments, the Subsidiary may invest in commodity-linked instruments. The Fund may invest up to 25% of its total assets in the Subsidiary; although 10% of total managed assets may be utilized for commodity-related strategies. This schedule of investments is the Consolidated Schedule of Investments of the Fund and the Subsidiary.

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

**(a) Investment valuation.** The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the adviser to be unreliable, the market price may be determined by the adviser 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 adviser has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's adviser 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 adviser 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

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

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

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.

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; U.S. Treasury Inflation Protected Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; $648772938 | &nbsp;&nbsp; — | &nbsp;&nbsp; $648772938 |
| &nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 47287527 | &nbsp;&nbsp; — | &nbsp;&nbsp; 47287527 |
| &nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 46180691 | &nbsp;&nbsp; — | &nbsp;&nbsp; 46180691 |
| &nbsp;&nbsp;&nbsp; Non-U.S. Treasury Inflation Protected Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 19729237 | &nbsp;&nbsp; — | &nbsp;&nbsp; 19729237 |
| &nbsp;&nbsp;&nbsp; Sovereign Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 13708451 | &nbsp;&nbsp; — | &nbsp;&nbsp; 13708451 |
| &nbsp;&nbsp;&nbsp; Senior Loans | &nbsp;&nbsp; — | &nbsp;&nbsp; 8627376 | &nbsp;&nbsp; — | &nbsp;&nbsp; 8627376 |
| &nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; — | &nbsp;&nbsp; 549505 | &nbsp;&nbsp; — | &nbsp;&nbsp; 549505 |
| Total Long-Term Investments | &nbsp;&nbsp; — | &nbsp;&nbsp; 784855725 | &nbsp;&nbsp; — | &nbsp;&nbsp; 784855725 |
| Short-Term Investments† | &nbsp;&nbsp; $5271548 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 5271548 |
| **Total Investments** | &nbsp;&nbsp; **$5271548** | &nbsp;&nbsp; **$784855725** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$790127273** |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts†† | &nbsp;&nbsp; $222685 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $222685 |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† | &nbsp;&nbsp; — | &nbsp;&nbsp; $98157 | &nbsp;&nbsp; — | &nbsp;&nbsp; 98157 |
| &nbsp;&nbsp;&nbsp; OTC Total Return Swaps | &nbsp;&nbsp; — | &nbsp;&nbsp; 88908 | &nbsp;&nbsp; — | &nbsp;&nbsp; 88908 |
| **Total Other Financial Instruments** | &nbsp;&nbsp; **$222685** | &nbsp;&nbsp; **$187065** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$409750** |
| **Total** | &nbsp;&nbsp; **$5494233** | &nbsp;&nbsp; **$785042790** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$790537023** |

---

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  | **LIABILITIES**  |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Other Financial Instruments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Futures Contracts†† | &nbsp;&nbsp; $438096 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; $438096 |
| &nbsp;&nbsp;&nbsp; Forward Foreign Currency Contracts†† | &nbsp;&nbsp; — | &nbsp;&nbsp; $854695 | &nbsp;&nbsp; — | &nbsp;&nbsp; 854695 |
| &nbsp;&nbsp;&nbsp; Centrally Cleared Interest Rate Swaps†† | &nbsp;&nbsp; — | &nbsp;&nbsp; 119571 | &nbsp;&nbsp; — | &nbsp;&nbsp; 119571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Centrally Cleared Credit Default Swaps on Credit Indices — Sell <br> Protection††<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; 124154 | &nbsp;&nbsp; — | &nbsp;&nbsp; 124154 |
| **Total** | &nbsp;&nbsp; **$438096** | &nbsp;&nbsp; **$1098420** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$1536516** |

---

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

† See Consolidated 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 February 28, 2026. The following transactions were effected in such company for the period ended February 28, 2026. <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>November 30, <br>2025 | Purchased | Purchased | Sold | Sold |
|  | Affiliate <br>Value at <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>November 30, <br>2025 | Cost | Shares | Proceeds | Shares |
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium <br> Shares<br>| $6001049 | $107609729 | 107609729 | $108339230 | 108339230 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&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>February 28, <br>2026<br>|
| Western Asset Premier <br> Institutional Government <br> Reserves, Premium Shares<br>|  | $97588 |  | $5271548 |

---

------

Western Asset Inflation-Linked Opportunities & Income Fund 2026 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Western Asset Inflation-Linked Opportunities & Income Fund

- **b. Investment Company Act file number:** 811-21477

- **c. CIK number of Registrant:** 0001267902

- **d. LEI of Registrant:** 549300Z3DNF4FJBJ4A87

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

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

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

  - **Telephone number:** 1-888-777-0102

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

- **a. Name of Series:** Western Asset Inflation-Linked Opportunities & Income Fund

- **c. LEI of Series:** 549300Z3DNF4FJBJ4A87

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

- **a. Date of fiscal year-end:** 2026-11-30

- **b. Date as of which information is reported:** 2026-02-27

**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:** $804951542.81

**Total Liabilities:** $212327037.03

**Net Assets:** $592624505.78

**Amount of Assets Invested in Other Investment Companies:** $46587201.03

**Cash Not Reported:** $2348749.94

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -4982.09000000 | **1-Year:** 10275.25000000 | **5-Year:** 30910.36000000 | **10-Year:** 15159.44000000 | **30-Year:** 1015.44000000

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

- **3-Month:** 115.29000000 | **1-Year:** 6897.52000000 | **5-Year:** 15323.83000000 | **10-Year:** 5.03000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | -2.12%               | 0.96%                | 1.89%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $16723.27                | $-6017121.04                               |
| Month 2  | $15317.57                | $6113360.85                                |
| Month 3  | $8748.32                 | $7917000.78                                |

### Schedule of Portfolio Investments

| Name                                                                | Title                                                                                                   | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |    Balance | Units   | Value (USD)    | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CHICAGO MERCANTILE EXCHANGE INC.                                    | Three-Month SOFR Futures, Mar-2026,ETH                                                                  | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              | CORP              | US        |        141 | NC      | $-54052.35     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO BOARD OF TRADE                                              | Ultra U.S. Treasury Bond Futures, Jun-2026,ETH                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -131 | NC      | $-247897.85    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Federal National Mortgage Association                               | CAS 2023-R06 1M2                                                                                        | CUSIP: 20754EAB1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     790000 | PA      | $811664.25     | 0.14%             | 2043-07-27      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| MF1 2022-FL9 LLC                                                    | MF1 2022-FL9 A                                                                                          | CUSIP: 55285AAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |    1385918 | PA      | $1386370.34    | 0.23%             | 2037-06-22      | Floating      | 5.82%                 | No            |                  2 | On Loan: No      |
| MSWF COML MTG TR 2023-1                                             | MSWF 2023-1 A4                                                                                          | CUSIP: 55376CAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     330000 | PA      | $348159.31     | 0.06%             | 2056-05-17      | Fixed         | 5.47%                 | No            |                  2 | On Loan: No      |
| CRSO TRUST 2023-BRND                                                | CRSO TRUST 2023-BRND 7.1207% MTG BDS 10/07/28 USD1000 A 144A                                            | CUSIP: 228925AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     750000 | PA      | $781108.20     | 0.13%             | 2040-07-12      | Variable      | 6.89%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                            | Morgan Stanley & Co                                                                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        | -113452340 | PA      | $-113452339.50 | -19.14%           |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                            | Morgan Stanley & Co                                                                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |  -10391120 | PA      | $-10391119.88  | -1.75%            |  |  |  | No            |                  2 | On Loan: No      |
| EOG Resources Inc.                                                  | EOG 4.375 04/15/30                                                                                      | CUSIP: 26875PAU5<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | DBT              | CORP              | US        |      70000 | PA      | $71033.43      | 0.01%             | 2030-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                      | MUDI 4 11/30/28 S                                                                                       | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   65404838 | PA      | $3800725.20    | 0.64%             | 2028-11-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2025-COPT                              | BX 2025-COPT A                                                                                          | CUSIP: 05618XAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1490000 | PA      | $1495533.41    | 0.25%             | 2042-08-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 0.875 01/15/29                                                                                      | CUSIP: 9128285W6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   23100660 | PA      | $23057560.64   | 3.89%             | 2029-01-15      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                         | 10-Year T-Note Futures, Jun-2026,ETH                                                                    | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |       -110 | NC      | $-103315.30    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Oneok Inc.                                                          | OKE 5.8 11/01/30                                                                                        | CUSIP: 682680BK8<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |    1180000 | PA      | $1251974.16    | 0.21%             | 2030-11-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2023-R02                        | CAS 2023-R02 1B1                                                                                        | CUSIP: 20755AAD4<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |     480000 | PA      | $514519.54     | 0.09%             | 2043-01-26      | Floating      | 9.22%                 | No            |                  2 | On Loan: No      |
| Jane Street Group                                                   | Jane Street Group Term Loan B 200 2031-12-01                                                            | CUSIP: 47077DAM2<br>LEI: 5493002N1IVX6KHGYO08 | Long             | LON              | CORP              | US        |     600000 | PA      | $582750.00     | 0.10%             | 2031-12-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Mrcd 2019-Park Mortgage Trust                                       | MRCD 2019-PARK A                                                                                        | CUSIP: 55348UAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1520000 | PA      | $1361160.00    | 0.23%             | 2036-12-15      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| Focus Financial                                                     | Focus Financial Term Loan B-8 (add-on) 275 2031-09-01                                                   | CUSIP: 34416DBD9<br>LEI: 5493007L0E0VKRC2CP39 | Long             | LON              | CORP              | US        |     580000 | PA      | $549550.00     | 0.09%             | 2031-09-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| BX Trust 2018-Bilt                                                  | BX 2025-SPOT E                                                                                          | CUSIP: 12433FAJ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    2719926 | PA      | $2741782.29    | 0.46%             | 2040-04-16      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 0.125 04/15/26                                                                                      | CUSIP: 91282CCA7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   27184740 | PA      | $27211963.62   | 4.59%             | 2026-04-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Columbia Pipelines Holding Co. LLC                                  | CPGX 6.042 08/15/28 144A                                                                                | CUSIP: 19828AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    1230000 | PA      | $1286143.19    | 0.22%             | 2028-08-15      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 0.125 10/15/26                                                                                      | CUSIP: 91282CDC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   45775354 | PA      | $45859264.34   | 7.74%             | 2026-10-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                        | TII 0.75 02/15/45                                                                                       | CUSIP: 912810RL4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   46375581 | PA      | $35119726.17   | 5.93%             | 2045-02-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| COMMODITIES EXCHANGE CENTER                                         | Copper Futures, May-2026,ETH                                                                            | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DCO              | CORP              | US        |         20 | NC      | $69450.00      | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BANC OF AMERICA FUNDING CORP                                        | BAFC 2015-R2 5A2                                                                                        | CUSIP: 05990TAP2<br>LEI: 54930023UHZHF7UJ8596 | Long             | ABS-O            | CORP              | US        |    3500523 | PA      | $2904125.39    | 0.49%             | 2036-09-29      | Variable      | 3.32%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                        | TII 3.625 04/15/28                                                                                      | CUSIP: 912810FD5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   20035500 | PA      | $21173316.45   | 3.57%             | 2028-04-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Sedgwick CMS                                                        | Sedgwick CMS Term Loan B 250 2031-07-01                                                                 | CUSIP: 81527CAP2<br>LEI: 549300BIN4DWJG5VWF64 | Long             | LON              | CORP              | US        |     600000 | PA      | $582900.00     | 0.10%             | 2031-07-31      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Antofagasta PLC                                                     | ANTOLN 2.375 10/14/30 144A                                                                              | CUSIP: 03718NAA4<br>LEI: 213800MY6QVH4FVLD628 | Long             | DBT              | CORP              | GB        |    1110000 | PA      | $1009953.32    | 0.17%             | 2030-10-14      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                        | TII 1.375 02/15/44                                                                                      | CUSIP: 912810RF7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   18492852 | PA      | $16030059.04   | 2.70%             | 2044-02-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| Ecopetrol S.A.                                                      | ECOPET 4.625 11/02/31                                                                                   | CUSIP: 279158AP4<br>LEI: 254900IDGKCJICKBPA66 | Long             | DBT              | CORP              | CO        |    1900000 | PA      | $1703508.00    | 0.29%             | 2031-11-02      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corporation                                        | GD 4.25 04/01/50                                                                                        | CUSIP: 369550BJ6<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |    3470000 | PA      | $3011605.09    | 0.51%             | 2050-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Bxmt 2020-Fl2 Ltd.                                                  | BXMT 2020-FL2 A                                                                                         | CUSIP: 12434LAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      36682 | PA      | $36762.24      | 0.01%             | 2038-02-18      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 0.125 07/15/31                                                                                      | CUSIP: 91282CCM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    7254360 | PA      | $6875696.55    | 1.16%             | 2031-07-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| EQT Corporation                                                     | EQT 5 01/15/29                                                                                          | CUSIP: 26884LAL3<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    1240000 | PA      | $1264769.98    | 0.21%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK MERCANTILE EXCHANGE, INC.                                  | Henry Hub Natural Gas Futures, Jun-2026,ETH                                                             | CUSIP: 000000000<br>LEI: 5493008GFNDTXFPHWI47 | N/A              | DCO              | CORP              | US        |         40 | NC      | $-32830.00     | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Generation LLC                                 | CEG 6.125 01/15/34                                                                                      | CUSIP: 210385AD2<br>LEI: S2PEWKCZFFECR4533P43 | Long             | DBT              | CORP              | US        |    1590000 | PA      | $1742100.85    | 0.29%             | 2034-01-15      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                              | CLYDESDALE ACQUISITION HOLDINGS INC                                                                     | CUSIP: 18972FAE2<br>LEI: 254900QKSDYFR3K5YD98 | Long             | LON              | CORP              | US        |    1140000 | PA      | $1130025.00    | 0.19%             | 2032-04-01      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| Occidental Petroleum Corp.                                          | OXY 6.2 03/15/40                                                                                        | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    1420000 | PA      | $1481020.24    | 0.25%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| ILFC E-Capital Trust II                                             | ILFC E-Capital Trust II                                                                                 | CUSIP: 44965UAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    2084000 | PA      | $1842813.68    | 0.31%             | 2065-12-21      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| Petrobras Global Finance B.V.                                       | PETBRA 5.999 01/27/28                                                                                   | CUSIP: 71647NAY5<br>LEI: 549300FNENFFSMO3GT38 | Long             | DBT              | CORP              | NL        |    1410000 | PA      | $1441514.91    | 0.24%             | 2028-01-27      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 1.625 04/15/30                                                                                      | CUSIP: 91282CNB3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   15269700 | PA      | $15591943.50   | 2.63%             | 2030-04-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd.                                                    | SANLTD 5.4 08/08/28                                                                                     | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |    2480000 | PA      | $2533605.20    | 0.43%             | 2028-08-08      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Medline Industries                                                  | Medline Industries Term Loan B 200 2028-10-01                                                           | CUSIP: 58503UAH6<br>LEI: 254900QT3R363TVK6F09 | Long             | LON              | CORP              | US        |     290000 | PA      | $290740.95     | 0.05%             | 2028-10-23      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| Benchmark 2020-B16 Mortgage Trust                                   | BMARK 2021-B29 XA                                                                                       | CUSIP: 08163JAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    8047874 | PA      | $269987.66     | 0.05%             | 2054-09-17      | Variable      | 1.01%                 | No            |                  2 | On Loan: No      |
| Residential Asset Securities Corp.                                  | RASC 2006-KS1 M3                                                                                        | CUSIP: 76113AAJ0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     447829 | PA      | $441112.78     | 0.07%             | 2036-02-25      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| UK CLEARING HOUSE LIMITED                                           | IRS USD                                                                                                 | CUSIP: 000000000<br>LEI: 213800O8SCO4XJGBU385 | N/A              | DIR              | CORP              | GB        |          1 | NC      | $-132166.82    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| OBX 2025-NQM4 TRUST                                                 | OBX 2025-NQM4 A3                                                                                        | CUSIP: 67120QAC0<br>LEI: 254900IAVXYLOCPK6W54 | Long             | ABS-O            | CORP              | US        |    1222465 | PA      | $1233529.67    | 0.21%             | 2055-02-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                        | TII 2.375 01/15/27                                                                                      | CUSIP: 912810PS1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    8034500 | PA      | $8150911.55    | 1.38%             | 2027-01-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| VERUS SECURITIZATION TR 2022-1                                      | VERUS 2022-1 B1                                                                                         | CUSIP: 92538WAE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     920000 | PA      | $764506.38     | 0.13%             | 2067-01-25      | Variable      | 4.01%                 | No            |                  2 | On Loan: No      |
| OBX 2023-NQM3 TRUST                                                 | OBX 2023-NQM3 A1                                                                                        | CUSIP: 67117PAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1194854 | PA      | $1193947.46    | 0.20%             | 2063-02-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| AmWINS Group                                                        | AmWINS Group Term Loan B 200 2032-01-01                                                                 | CUSIP: 03234TBB3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | LON              | CORP              | US        |     770000 | PA      | $763262.50     | 0.13%             | 2032-01-30      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Asurion                                                             | Asurion First-lien Term Loan B-14 375 2033-02-09                                                        | CUSIP: 04649VBF6<br>LEI: 549300KNQVXGIOXWK278 | Long             | LON              | CORP              | US        |     610000 | PA      | $600596.85     | 0.10%             | 2033-02-23      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| ANGEL OAK MORTGAGE TRUST 2023-1                                     | AOMT 2023-1 A1                                                                                          | CUSIP: 03465WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1537327 | PA      | $1534625.26    | 0.26%             | 2067-09-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| FEDERAL NATIONAL MORTGAGE ASSOCIATION                               | CAS 2020-R01 1B1                                                                                        | CUSIP: 20754CAF6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |    1660000 | PA      | $1690431.12    | 0.29%             | 2040-01-25      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| MAD COMMERCIAL MORTGAGE TRUST 2025-11MD                             | MAD 2025-11MD A                                                                                         | CUSIP: 55616AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     900000 | PA      | $914375.16     | 0.15%             | 2042-10-17      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 1.625 10/15/27                                                                                      | CUSIP: 91282CFR7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   17502880 | PA      | $17790237.91   | 3.00%             | 2027-10-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE BANK, NATIONAL ASSOCIATION                           | TRS JPEIFNTR INDEX                                                                                      | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              | CORP              | US        |          1 | NC      | $32091.86      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                       | UBSCM 2017-C7 A3                                                                                        | CUSIP: 90276WAR8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     261106 | PA      | $258716.43     | 0.04%             | 2050-12-16      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| BRAZIL, FEDERATIVE REPUBLIC OF - SECRETARIA DO TESOURO NACIONAL     | BNTNB 6 08/15/50 NTNB                                                                                   | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   13828437 | PA      | $2423059.69    | 0.41%             | 2050-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 1.625 10/15/29                                                                                      | CUSIP: 91282CLV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   12358440 | PA      | $12659987.17   | 2.14%             | 2029-10-15      | Fixed         | 1.62%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust 2012-Lc5                      | WFCM 2021-C59 XA                                                                                        | CUSIP: 95003CBU3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    3843456 | PA      | $210409.97     | 0.04%             | 2054-04-17      | Variable      | 1.48%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                        | TII 2.5 01/15/29                                                                                        | CUSIP: 912810PZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   30186800 | PA      | $31507450.46   | 5.32%             | 2029-01-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd.                                                    | SANLTD 4.375 06/18/30                                                                                   | CUSIP: 80007RAL9<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |     600000 | PA      | $594161.46     | 0.10%             | 2030-06-18      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Cloudera                                                            | Cloudera First-lien Term Loan 375 2028-07-24                                                            | CUSIP: 74339VAB4<br>LEI: 549300PGONC4JOI0RG62 | Long             | LON              | CORP              | US        |     550000 | PA      | $487929.75     | 0.08%             | 2028-10-10      | Floating      | 7.52%                 | No            |                  2 | On Loan: No      |
| EXTENDED STAY AMERICA INC                                           | ESA 2025-ESH A                                                                                          | CUSIP: 30227TAA8<br>LEI: 549300IESZBC3BJUJW64 | Long             | ABS-O            | CORP              | US        |     570000 | PA      | $571465.01     | 0.10%             | 2042-10-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                  | PERU 5.5 03/30/36                                                                                       | CUSIP: 715638FC1<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |    1380000 | PA      | $1426644.00    | 0.24%             | 2036-03-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| BAUSCH HEALTH AMERICAS INC                                          | BHCCN 8.5 01/31/27 144A                                                                                 | CUSIP: 91911XAW4<br>LEI: KOO0397YRO83WY5MGD97 | Long             | DBT              | CORP              | US        |    1970000 | PA      | $1954048.14    | 0.33%             | 2027-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                        | TII 2.125 02/15/40                                                                                      | CUSIP: 912810QF8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    3898128 | PA      | $3968881.36    | 0.67%             | 2040-02-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| BP Capital Markets America, Inc.                                    | BPLN 3.633 04/06/30                                                                                     | CUSIP: 10373QBL3<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |     270000 | PA      | $267282.14     | 0.05%             | 2030-04-06      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| New Residential (B1-I0) 2016-3                                      | NRZT 2016-3A B2                                                                                         | CUSIP: 64829HAV9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     298985 | PA      | $296742.84     | 0.05%             | 2056-09-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                                        | AVGO 3.137 11/15/35 144A                                                                                | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     400000 | PA      | $349884.12     | 0.06%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                                         | FMCN 7.25 02/15/34 144A                                                                                 | CUSIP: 335934AX3<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |     680000 | PA      | $712521.68     | 0.12%             | 2034-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| General Dynamics Corporation                                        | GD 4.25 04/01/40                                                                                        | CUSIP: 369550BH0<br>LEI: 9C1X8XOOTYY2FNYTVH06 | Long             | DBT              | CORP              | US        |      30000 | PA      | $27990.41      | 0.00%             | 2040-04-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                     | CDS CDX.NA.HY.45.V1                                                                                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |          1 | NC      | $2761341.91    | 0.47%             |  |  |  | No            |                  2 | On Loan: No      |
| NYC COMMERCIAL MORTGAGE TRUST 2025-28L                              | NYC 2025-28L F                                                                                          | CUSIP: 67123JAL3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    2000000 | PA      | $2057034.00    | 0.35%             | 2038-11-05      | Variable      | 8.13%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2023-DNA1                             | STACR 2023-DNA1 M1A                                                                                     | CUSIP: 35564KP37<br>LEI: 5493000IRILHAKSCHN59 | Long             | ABS-O            | USGSE             | US        |     379690 | PA      | $383891.26     | 0.06%             | 2043-03-25      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 1.125 10/15/30                                                                                      | CUSIP: 91282CPH8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   14025340 | PA      | $14069764.14   | 2.37%             | 2030-10-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| GREYSTONE CRE NOTES 2021-FL3 LTD                                    | GSTNE 2021-FL3 A                                                                                        | CUSIP: 39809PAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      78970 | PA      | $79125.40      | 0.01%             | 2039-07-15      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| SMRT MINI                                                           | SMRT 2022-MINI A                                                                                        | CUSIP: 78457JAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     390000 | PA      | $390082.52     | 0.07%             | 2039-01-18      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| Bx Commercial Mortgage Trust 2018-Bioa                              | BX 2021-XL2 D                                                                                           | CUSIP: 05609KAG4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1225000 | PA      | $1225763.42    | 0.21%             | 2038-10-15      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| Glencore Finance (Canada) Limited                                   | GLENLN 5.55 10/25/42 144A                                                                               | CUSIP: 98417EAR1<br>LEI: 5493005TTO0UJ33KCK70 | Long             | DBT              | CORP              | CA        |    2330000 | PA      | $2336374.93    | 0.39%             | 2042-10-25      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Gainwell Technologies (fka Milano Acqusition/DXC State & Local HHS) | Gainwell Technologies (fka Milano Acqusition/DXC State & Local HHS) First-lien Term Loan 400 2027-08-03 | CUSIP: 59909TAC8<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    1230000 | PA      | $1170037.50    | 0.20%             | 2027-10-01      | Floating      | 7.76%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd.                                                    | SANLTD 3.25 08/08/31                                                                                    | CUSIP: 80007RAS4<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |     600000 | PA      | $559458.96     | 0.09%             | 2031-08-08      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 0.125 04/15/27                                                                                      | CUSIP: 91282CEJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   52795120 | PA      | $52365903.59   | 8.84%             | 2027-04-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                               | MXN/USD FORWARD                                                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-351164.02    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| Connecticut Avenue Securities Trust 2023-R05                        | CAS 2023-R05 1M2                                                                                        | CUSIP: 207942AB9<br>LEI: N/A                  | Long             | ABS-O            | USGSE             | US        |     550000 | PA      | $571694.86     | 0.10%             | 2043-06-25      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 0.125 01/15/30                                                                                      | CUSIP: 912828Z37<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1259520 | PA      | $1215988.15    | 0.21%             | 2030-01-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Swch Commercial Mortgage Trust 2025-Data                            | SWCH 2025-DATA A                                                                                        | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     300000 | PA      | $297816.69     | 0.05%             | 2042-02-18      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Ecuador (Republic Of)                                               | ECUA 8.75 01/29/34 144A                                                                                 | CUSIP: 27927WAQ5<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |     690000 | PA      | $696210.00     | 0.12%             | 2034-01-29      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                            | Morgan Stanley & Co                                                                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |   -1479704 | PA      | $-1479704.41   | -0.25%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                            | Morgan Stanley & Co                                                                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |  -21396984 | PA      | $-21396984.47  | -3.61%            |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                            | Morgan Stanley & Co                                                                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |  -17520305 | PA      | $-17520305.47  | -2.96%            |  |  |  | No            |                  2 | On Loan: No      |
| PRKCM 2024-HOME1 TRUST                                              | PRKCM 2024-HOME1 A1                                                                                     | CUSIP: 69391XAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     915318 | PA      | $928726.74     | 0.16%             | 2059-05-25      | Variable      | 6.43%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                            | Morgan Stanley & Co                                                                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |   -3273943 | PA      | $-3273943.39   | -0.55%            |  |  |  | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                      | MBONO 7.75 11/13/42 M                                                                                   | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |   88280000 | PA      | $4526564.43    | 0.76%             | 2042-11-13      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTAL EXCHANGE, INC.                                     | CDS CDX.NA.IG.45.V1                                                                                     | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              | CORP              | US        |          1 | NC      | $836902.58     | 0.14%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 0.125 01/15/32                                                                                      | CUSIP: 91282CDX6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   22795695 | PA      | $21337673.69   | 3.60%             | 2032-01-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| PRPM 2024-Nmq4 Trust                                                | PRPM 2024-NQM4 A1                                                                                       | CUSIP: 69381UAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     534043 | PA      | $539163.98     | 0.09%             | 2069-12-25      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| Inter-American Development Bank                                     | IADB 7.35 10/06/30 GMTN                                                                                 | CUSIP: 000000000<br>LEI: VKU1UKDS9E7LYLMACP54 | Long             | DBT              | NUSS              | N/A       |  251000000 | PA      | $2805864.17    | 0.47%             | 2030-10-06      | Fixed         | 7.35%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                        | TII 3.875 04/15/29                                                                                      | CUSIP: 912810FH6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  114330180 | PA      | $124347896.70  | 20.98%            | 2029-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Yamana Gold Inc                                                     | YRICN 4.625 12/15/27                                                                                    | CUSIP: 98462YAD2<br>LEI: 54930002VY22NXG01418 | Long             | DBT              | CORP              | CA        |    1360000 | PA      | $1370479.36    | 0.23%             | 2027-12-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Harbor Freight                                                      | Harbor Freight Term Loan B 250 2031-05-27                                                               | CUSIP: 41151PAR6<br>LEI: 549300Y48HLCFTTB4249 | Long             | LON              | CORP              | US        |     600000 | PA      | $591936.00     | 0.10%             | 2031-06-11      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                        | TII 0.75 02/15/42                                                                                       | CUSIP: 912810QV3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   14341200 | PA      | $11564474.78   | 1.95%             | 2042-02-15      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| Energy Transfer LP                                                  | ET 5.25 04/15/29                                                                                        | CUSIP: 29278NAG8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |    1200000 | PA      | $1239647.96    | 0.21%             | 2029-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 1.875 07/15/35                                                                                      | CUSIP: 91282CNS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   14128940 | PA      | $14429964.13   | 2.43%             | 2035-07-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT AVENUE SECURITIES TRUST 2019-R05                        | CAS 2019-R05 1B1                                                                                        | CUSIP: 20754HAD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     344493 | PA      | $348480.33     | 0.06%             | 2039-07-25      | Floating      | 7.88%                 | No            |                  2 | On Loan: No      |
| Bank of America, National Association                               | BRL/USD FORWARD                                                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-435017.65    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Williams Companies Inc. (The)                                       | WMB 5.75 06/24/44                                                                                       | CUSIP: 969457BV1<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |    2350000 | PA      | $2393830.65    | 0.40%             | 2044-06-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd.                                                    | SANLTD 2.85 03/08/29                                                                                    | CUSIP: 80007RAQ8<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $191532.14     | 0.03%             | 2029-03-08      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2024-DNA1                             | STACR 2024-DNA1 M2                                                                                      | CUSIP: 35564NBA0<br>LEI: 529900N6M839KA246662 | Long             | ABS-O            | USGSE             | US        |    1850000 | PA      | $1870728.33    | 0.32%             | 2044-02-25      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| BRAZIL, FEDERATIVE REPUBLIC OF - SECRETARIA DO TESOURO NACIONAL     | BNTNB 6 08/15/30 NTNB                                                                                   | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   38028202 | PA      | $7036598.99    | 1.19%             | 2030-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2023-DNA2                             | STACR 2023-DNA2 M1A                                                                                     | CUSIP: 35564KT58<br>LEI: 5493000IRI80KQJUNK40 | Long             | ABS-O            | USGSE             | US        |     897241 | PA      | $909906.91     | 0.15%             | 2043-04-25      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| PRKCM 2023-AFC1 TRUST                                               | PRKCM 2023-AFC1 A1                                                                                      | CUSIP: 693981AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     943875 | PA      | $942313.21     | 0.16%             | 2058-02-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 0.5 01/15/28                                                                                        | CUSIP: 9128283R9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    7882440 | PA      | $7830167.05    | 1.32%             | 2028-01-15      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| FEDERAL HOME LOAN MORTGAGE CORP                                     | SCRT 2016-1 M2                                                                                          | CUSIP: 35563PAE9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-O            | USGSE             | US        |     757805 | PA      | $713135.16     | 0.12%             | 2055-09-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Nigeria (Federal Republic of)                                       | NGERIA 6.5 11/28/27 144A                                                                                | CUSIP: 65412JAC7<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |     280000 | PA      | $284501.90     | 0.05%             | 2027-11-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OBX 2024-NQM17 TRUST                                                | OBX 2024-NQM17 A3                                                                                       | CUSIP: 673911AE3<br>LEI: 254900HMH8TR6ZSMCB34 | Long             | ABS-O            | CORP              | US        |    1101881 | PA      | $1114348.29    | 0.19%             | 2064-11-25      | Variable      | 6.01%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                           | USD/BRL FORWARD                                                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $53744.58      | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SREIT TR 2021-FLWR                                                  | SREIT 2021-MFP A                                                                                        | CUSIP: 78472UAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     545247 | PA      | $545276.75     | 0.09%             | 2038-11-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Cloud Software Group (Citrix/TIBCO)                                 | Cloud Software Group (Citrix/TIBCO) Term Loan B 325 2031-03-01                                          | CUSIP: 88632NBK5<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |     620000 | PA      | $577840.00     | 0.10%             | 2031-03-24      | Floating      | 7.10%                 | No            |                  2 | On Loan: No      |
| Sreit Trust 2021-Palm                                               | SREIT 2021-PALM B                                                                                       | CUSIP: 85237AAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1930000 | PA      | $1929526.96    | 0.33%             | 2034-10-16      | Variable      | 4.58%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 2.125 01/15/35                                                                                      | CUSIP: 91282CML2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   32447828 | PA      | $33810126.05   | 5.71%             | 2035-01-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                        | TII 0.25 02/15/50                                                                                       | CUSIP: 912810SM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   37182980 | PA      | $22414284.07   | 3.78%             | 2050-02-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2025-B                                 | BOCA 2025-BOCA A                                                                                        | CUSIP: 05619RAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1080000 | PA      | $1086127.49    | 0.18%             | 2042-12-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| athenahealth                                                        | athenahealth Term Loan B 300 2029-02-01                                                                 | CUSIP: 04686RAB9<br>LEI: 254900AA3KZN4Q7A5Z33 | Long             | LON              | CORP              | US        |     540000 | PA      | $527399.10     | 0.09%             | 2029-02-15      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| Mexico (United Mexican States)                                      | MEX 5.85 07/02/32                                                                                       | CUSIP: 91087BBE9<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    3720000 | PA      | $3850572.00    | 0.65%             | 2032-07-02      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                            | Morgan Stanley & Co                                                                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |   -6137614 | PA      | $-6137614.40   | -1.04%            |  |  |  | No            |                  2 | On Loan: No      |
| Capstone Copper Corp                                                | CAPCOP 6.75 03/31/33 144A                                                                               | CUSIP: 14071LAA6<br>LEI: 549300III6KGKKC42W63 | Long             | DBT              | CORP              | CA        |    1400000 | PA      | $1447818.40    | 0.24%             | 2033-03-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank, National Association                           | BRL/USD FORWARD                                                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              | CORP              | US        |          1 | NC      | $-46152.92     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                                 | CGCMT 2023-SMRT A                                                                                       | CUSIP: 17291NAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     570000 | PA      | $587884.21     | 0.10%             | 2040-10-12      | Variable      | 5.82%                 | No            |                  2 | On Loan: No      |
| BX TRUST 2022-CLS                                                   | BX 2022-CLS A                                                                                           | CUSIP: 05609XAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1460000 | PA      | $1465181.69    | 0.25%             | 2027-10-13      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| Qazaqgaz National Co JSC                                            | KZTGKZ 4.375 09/26/27 144A                                                                              | CUSIP: 48668NAA9<br>LEI: 635400YGLXBBSVHONW39 | Long             | DBT              | CORP              | KZ        |    4000000 | PA      | $3994905.08    | 0.67%             | 2027-09-26      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| First Quantum Minerals Ltd.                                         | FMCN 8 03/01/33 144A                                                                                    | CUSIP: 335934AW5<br>LEI: 549300I7UVBGWRYMYZ18 | Long             | DBT              | CORP              | CA        |     670000 | PA      | $716140.22     | 0.12%             | 2033-03-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| BX COMMERCIAL MORTGAGE TRUST 2022-L                                 | BX 2022-LP2 G                                                                                           | CUSIP: 05610HAN3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1274000 | PA      | $1277871.18    | 0.22%             | 2039-02-15      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| NEW RESIDENTIAL MORTGAGE LOAN TRUST 2026-NQM3                       | NRZT 2026-NQM3 A3                                                                                       | CUSIP: 64832PAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    1580000 | PA      | $1584218.28    | 0.27%             | 2066-02-25      | Variable      | 5.19%                 | No            |                  2 | On Loan: No      |
| UKG                                                                 | UKG Term Loan B 350 2031-01-20                                                                          | CUSIP: 89841EAB1<br>LEI: 529900FKHWSTQ1GXK240 | Long             | LON              | CORP              | US        |     610000 | PA      | $579042.50     | 0.10%             | 2031-02-10      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bonds                                        | TII 0.125 02/15/52                                                                                      | CUSIP: 912810TE8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   15831624 | PA      | $8783597.30    | 1.48%             | 2052-02-15      | Fixed         | 0.12%                 | No            |                  2 | On Loan: No      |
| Comision Federal de Electricidad                                    | CFELEC 6.045 01/28/34 144A                                                                              | CUSIP: 200447AQ3<br>LEI: 4469000001BFPONMPF32 | Long             | DBT              | CORP              | MX        |    1480000 | PA      | $1498500.00    | 0.25%             | 2034-01-28      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| Hub International                                                   | Hub International Term Loan B 250 2030-06-01                                                            | CUSIP: 44332EAZ9<br>LEI: 549300JQT6ATTUNS5E06 | Long             | LON              | CORP              | US        |      80000 | PA      | $79253.60      | 0.01%             | 2030-06-20      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| BOARD OF TRADE OF THE CITY OF CHICAGO, INC.                         | 5-Year T-Note Futures, Jun-2026,ETH                                                                     | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              | CORP              | US        |        334 | NC      | $153234.93     | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| GS Mortgage Securities Trust 2020-GC45                              | GSMS 2020-GC45 A5                                                                                       | CUSIP: 36258YBG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     380000 | PA      | $363395.10     | 0.06%             | 2053-02-14      | Variable      | 2.91%                 | No            |                  2 | On Loan: No      |
| Peru (Republic Of)                                                  | PERU 3.3 03/11/41                                                                                       | CUSIP: 715638DS8<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     150000 | PA      | $118095.00     | 0.02%             | 2041-03-11      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Legg Mason Partners Institutional Trust                             | Legg Mason Partners Institutional Trust GVT RSEVS PRM                                                   | CUSIP: 52470G494<br>LEI: 54930003LJE4ZPPMRV82 | Long             | STIV             | RF                | US        |   10461396 | PA      | $10461396.00   | 1.77%             | 2099-12-01      | Floating      | 0.00%                 | No            |                  1 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2022-DNA5                             | STACR 2022-DNA5 M1B                                                                                     | CUSIP: 35564KYP8<br>LEI: 5493000IS349P4O9HR58 | Long             | ABS-O            | USGSE             | US        |    1820000 | PA      | $1902606.89    | 0.32%             | 2042-06-25      | Floating      | 8.17%                 | No            |                  2 | On Loan: No      |
| Corporacion Nacional del Cobre de Chile                             | CDEL 5.529 01/30/37 144A                                                                                | CUSIP: 21987BBQ0<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     910000 | PA      | $932977.50     | 0.16%             | 2037-01-30      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                | GLENLN 3.875 10/27/27 144A                                                                              | CUSIP: 378272AQ1<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |    1630000 | PA      | $1628151.21    | 0.27%             | 2027-10-27      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Truist Insurance Holdings                                           | Truist Insurance Holdings Term Loan B 275 2031-05-01                                                    | CUSIP: 89788VAG7<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      40000 | PA      | $39360.00      | 0.01%             | 2031-05-01      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. LLC                                            | Morgan Stanley & Co                                                                                     | CUSIP: 000000000<br>LEI: 9R7GPTSO7KV3UQJZQ078 | Short            | RA               | CORP              | US        |  -23641626 | PA      | $-23641625.58  | -3.99%            |  |  |  | No            |                  2 | On Loan: No      |
| Enterprise Products Operating LLC                                   | EPD 3.125 07/31/29                                                                                      | CUSIP: 29379VBV4<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |    2880000 | PA      | $2814042.38    | 0.47%             | 2029-07-31      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| BRAZIL, FEDERATIVE REPUBLIC OF - SECRETARIA DO TESOURO NACIONAL     | BNTNB 6 05/15/29 NTNB                                                                                   | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   34460465 | PA      | $6455480.66    | 1.09%             | 2029-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK, NATIONAL ASSOCIATION                                      | USD/INR FORWARD                                                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              | CORP              | US        |          1 | NC      | $22051.62      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Glencore Funding LLC                                                | GLENLN 4 03/27/27 144A                                                                                  | CUSIP: 378272AN8<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     500000 | PA      | $500270.92     | 0.08%             | 2027-03-27      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Targa Resources Corp.                                               | TRGP 4.2 02/01/33                                                                                       | CUSIP: 87612GAA9<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |    1300000 | PA      | $1262887.15    | 0.21%             | 2033-02-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| CoreLogic                                                           | CoreLogic Term Loan B 350 2028-03-28                                                                    | CUSIP: 21870FBA6<br>LEI: 54930086CD8K2UIL0516 | Long             | LON              | CORP              | US        |      80000 | PA      | $76200.00      | 0.01%             | 2028-06-02      | Floating      | 7.29%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 1.125 01/15/33                                                                                      | CUSIP: 91282CGK1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   39163680 | PA      | $38514895.65   | 6.50%             | 2033-01-15      | Fixed         | 1.12%                 | No            |                  2 | On Loan: No      |
| FREDDIE MAC STACR REMIC TRUST 2021-DNA1                             | STACR 2021-DNA1 B1                                                                                      | CUSIP: 35564KBD0<br>LEI: 5493000IT1PBTE7DAT80 | Long             | ABS-O            | USGSE             | US        |    1176000 | PA      | $1243186.29    | 0.21%             | 2051-01-25      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| Federal National Mortgage Association                               | CAS 2024-R02 1M2                                                                                        | CUSIP: 20754GAE0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-O            | USGSE             | US        |     500000 | PA      | $503283.05     | 0.08%             | 2044-02-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes                                        | TII 1.75 01/15/34                                                                                       | CUSIP: 91282CJY8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   35843140 | PA      | $36506371.78   | 6.16%             | 2034-01-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| ORIGEN MANUFACTURED HOUSING CONTRACT TRUST 2007-B                   | ORGN 2007-B A1                                                                                          | CUSIP: 68620KAA0<br>LEI: 5493005G5GFEQWMCSY59 | Long             | ABS-O            | CORP              | US        |     108477 | PA      | $108391.91     | 0.02%             | 2037-10-15      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Prosus NV                                                           | PRXNA 3.061 07/13/31 144A                                                                               | CUSIP: 74365PAF5<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |    1900000 | PA      | $1754707.25    | 0.30%             | 2031-07-13      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| T-Mobile USA, Inc.                                                  | TMUS 3.75 04/15/27                                                                                      | CUSIP: 87264ABD6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     100000 | PA      | $99872.87      | 0.02%             | 2027-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-04-24

**Name of Applicant:** Western Asset Inflation-Linked Opportunities & Income Fund

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer