NPORT-P false 0001267902 XXXXXXXX Western Asset Inflation-Linked Opportunities & Income Fund 811-21477 0001267902 549300Z3DNF4FJBJ4A87 620 Eighth Avenue 47th Floor New York 10018 1-888-777-0102 Western Asset Inflation-Linked Opportunities & Income Fund 549300Z3DNF4FJBJ4A87 2025-11-30 2025-02-28 N 867983423.43 267637599.72 600345823.71 0.00000000 65878603.87000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 4150901.34000000 BRL MXN USD UYU N UBS Commercial Mortgage Trust N/A 90276WAR8 274273.74000000 PA USD 265591.71000000 0.044239786388 Long ABS-MBS CORP US N 2 2050-12-15 Fixed 3.41800000 N N N N N N SOUTHERN COPPER CORP 2549007U6NAP46Q9TU15 84265VAG0 1600000.00000000 PA USD 1480173.76000000 0.246553519911 Long DBT CORP US N 2 2042-11-08 Fixed 5.25000000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 91282CLV1 10030200.00000000 PA USD 10140100.30000000 1.689043198024 Long DBT UST US N 2 2029-10-15 Fixed 1.62500000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 91282CDC2 31877172.00000000 PA USD 31523115.12000000 5.250826086403 Long DBT UST US N 2 2026-10-15 Fixed 0.12500000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 91282CFR7 2130820.00000000 PA USD 2159871.75000000 0.359771262612 Long DBT UST US N 2 2027-10-15 Fixed 1.62500000 N N N N N N Angel Oak Mortgage Trust N/A 03465WAA9 1748246.29000000 PA USD 1736610.14000000 0.289268296940 Long ABS-MBS CORP US N 2 2067-09-26 Variable 4.75000000 N N N N N N Citibank, National Association E57ODZWZ7FF32TWEFA76 000000000 1.00000000 NC USD -207454.97000000 -0.03455591124 N/A DFE CORP US N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 -315691109.00000000 UYU 7141319.63000000 USD 2025-04-16 -207454.97000000 N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 -19161137.01000000 PA USD -19161137.01000000 -3.19168323543 Short RA CORP US N 2 Reverse repurchase N 4.64000000 2025-06-05 16500000.00000000 USD 16514534.00000000 USD UST N N N SMRT N/A 78457JAA0 390000.00000000 PA USD 389221.83000000 0.064832937055 Long ABS-MBS CORP US N 2 2039-01-15 Floating 5.31200000 N N N N N N SANDS CHINA LTD 549300EVO6UZDGY05787 80007RAL9 600000.00000000 PA USD 569916.66000000 0.094931394121 Long DBT CORP KY N 2 2030-06-18 Variable 4.37500000 N N N N N N Freddie Mac - SCRT N/A 35563PBH1 875415.60000000 PA USD 870762.77000000 0.145043529181 Long ABS-MBS USGSE US N 2 2056-08-25 Variable 4.00000000 N N N N N N US TREASURY N/B 254900HROIFWPRGM1V77 912810UF3 310000.00000000 PA USD 313487.50000000 0.052217819733 Long DBT UST US N 2 2044-11-15 Fixed 4.62500000 N N N N N N EOG RESOURCES INC XWTZDRYZPBUHIQBKDB46 26875PAT8 250000.00000000 PA USD 228617.23000000 0.038080922856 Long DBT CORP US N 2 2050-04-15 Fixed 4.95000000 N N N N N N MRCD Mortgage Trust N/A 55348UAG3 1520000.00000000 PA USD 1368380.00000000 0.227931959540 Long ABS-MBS CORP US N 2 2036-12-15 Fixed 2.71752000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 91282CJY8 34908480.00000000 PA USD 34814303.90000000 5.799041573214 Long DBT UST US N 2 2034-01-15 Fixed 1.75000000 N N N N N N BONOS TESORERIA PESOS 549300FLZTJM5YJF8D34 000000000 4040000000.00000000 PA 3937791.04000000 0.655920451926 Long DBT NUSS CL N 2 2035-03-01 Fixed 5.00000000 N N N N N N NOTA DO TESOURO NACIONAL 254900ZFY40OYEADAP90 000000000 33164597.59200000 PA 5328112.13000000 0.887507153305 Long DBT NUSS BR N 2 2029-05-15 Fixed 6.00000000 N N N N N N ILFC E-CAPITAL TRUST II N/A 44965UAA2 2084000.00000000 PA USD 1789782.34000000 0.298125225380 Long DBT CORP US N 2 2065-12-21 Floating 6.39892000 N N N N N N UNITED KINGDOM I/L GILT ECTRVYYCEF89VWYS6K36 000000000 4396784.00000000 PA 2891582.47000000 0.481652800069 Long DBT NUSS GB N 2 2068-03-22 Fixed 0.12500000 N N N N N N SWCH Commercial Mortgage Trust N/A 78489CAA7 300000.00000000 PA USD 299736.27000000 0.049927268278 Long ABS-MBS CORP US N 2 2042-03-15 Floating 5.75023000 N N N N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 -51946633.77000000 PA USD -51946633.77000000 -8.65278506461 Short RA CORP US N 2 Reverse repurchase N 4.64000000 2025-06-05 40000000.00000000 USD 39892342.21000000 USD UST N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 -97872273.19000000 PA USD -97872273.19000000 -16.3026491273 Short RA CORP US N 2 Reverse repurchase N 4.64000000 2025-06-05 47000000.00000000 USD 51334240.00000000 USD UST N N N Onslow Bay Financial LLC N/A 67117PAA1 1481023.61000000 PA USD 1488321.35000000 0.247910669354 Long ABS-MBS CORP US N 2 2063-02-25 Variable 5.94871000 N N N N N N REPUBLIC OF NIGERIA 549300GSBZD84TNEQ285 65412JAC7 280000.00000000 PA USD 274146.25000000 0.045664721760 Long DBT NUSS NG N 2 2027-11-28 Fixed 6.50000000 N N N N N N OCCIDENTAL PETROLEUM COR IM7X0T3ECJW4C1T7ON55 674599DC6 330000.00000000 PA USD 331693.56000000 0.055250415160 Long DBT CORP US N 2 2026-03-15 Fixed 5.55000000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 91282CGK1 33237142.40000000 PA USD 31757073.84000000 5.289796744774 Long DBT UST US N 2 2033-01-15 Fixed 1.12500000 N N N N N N BHP BILLITON FIN USA LTD 5493003NUVITP3TMY274 055451AV0 1620000.00000000 PA USD 1554893.09000000 0.258999568014 Long DBT CORP AU N 2 2043-09-30 Fixed 5.00000000 N N N N N N BHMS Mortgage Trust N/A 05549GAL5 2000000.00000000 PA USD 1993174.20000000 0.332004341711 Long ABS-MBS CORP US N 2 2035-07-15 Floating 6.85886000 N N N N N N MEXICAN UDIBONOS 254900EGTWEU67VP6075 000000000 62981640.00000000 PA 2934615.51000000 0.488820841938 Long DBT NUSS MX N 2 2028-11-30 Fixed 4.00000000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810RL4 37124925.00000000 PA USD 28807909.36000000 4.798552471302 Long DBT UST US N 2 2045-02-15 Fixed 0.75000000 N N N N N N GS Mortgage Securities Trust N/A 36258YBG2 380000.00000000 PA USD 350478.79000000 0.058379483317 Long ABS-MBS CORP US N 2 2053-02-13 Fixed 2.91060000 N N N N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 -14847288.23000000 PA USD -14847288.23000000 -2.47312259761 Short RA CORP US N 2 Reverse repurchase N 4.64000000 2025-06-05 19400000.00000000 USD 12048673.22000000 USD UST N N N Origen Manufactured Housing 5493005G5GFEQWMCSY59 68620KAA0 507608.00000000 PA USD 503233.99000000 0.083824017778 Long ABS-O CORP US N 2 2037-10-15 Floating 6.16018000 N N N N N N SREIT Trust N/A 78472UAA6 582778.28000000 PA USD 581914.78000000 0.096929928887 Long ABS-MBS CORP US N 2 2038-11-15 Floating 5.15714000 N N N N N N BX Trust N/A 05609VAA3 910000.00000000 PA USD 904722.91000000 0.150700292109 Long ABS-MBS CORP US N 2 2036-09-15 Floating 5.12634000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810SM1 56468680.00000000 PA USD 35437274.19000000 5.902810145493 Long DBT UST US N 2 2050-02-15 Fixed 0.25000000 N N N N N N JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 7H6GLXDRUGQFU57RNE97 000000000 1.00000000 NC USD 298271.22000000 0.049683233932 N/A DE CORP US N 2 JPMORGAN CHASE BANK, NATIONAL ASSOCIATION 7H6GLXDRUGQFU57RNE97 Y Performance Leg 2025-03-07 0.00000000 USD 0.00000000 USD 6332999.41000000 USD 298271.22000000 N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 91282CEJ6 23473590.00000000 PA USD 22942916.92000000 3.821616810493 Long DBT UST US N 2 2027-04-15 Fixed 0.12500000 N N N N N N New Residential Mortgage Loan N/A 64829HAV9 371628.77000000 PA USD 361296.60000000 0.060181413067 Long ABS-MBS CORP US N 2 2056-09-25 Variable 4.25000000 N N N N N N BP CAP MARKETS AMERICA 5493009NTB34VXE1T760 10373QBL3 580000.00000000 PA USD 552701.17000000 0.092063798592 Long DBT CORP US N 2 2030-04-06 Fixed 3.63300000 N N N N N N BNP PARIBAS SECURITIES CORP. RCNB6OTYUAMMP879YW96 000000000 1.00000000 NC USD -74133.21000000 -0.01234841770 N/A DFE CORP US N 2 BNP PARIBAS SECURITIES CORP. RCNB6OTYUAMMP879YW96 -2977591.59000000 GBP 3670929.03000000 USD 2025-04-16 -74133.21000000 N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912828Z37 1226680.00000000 PA USD 1149304.09000000 0.191440340651 Long DBT UST US N 2 2030-01-15 Fixed 0.12500000 N N N N N N Wells Fargo Commercial Mortgag N/A 95003CBU3 3881043.16000000 PA USD 254306.52000000 0.042360004843 Long ABS-MBS CORP US N 2 2054-04-15 Variable 1.50008700 N N N N N N BXMT Ltd N/A 12434LAA2 238253.21000000 PA USD 237365.91000000 0.039538196257 Long ABS-CBDO CORP KY N 2 2038-02-15 Floating 5.32813000 N N N N N N INTER-AMERICAN DEVEL BK VKU1UKDS9E7LYLMACP54 000000000 251000000.00000000 PA 2939012.33000000 0.489553223146 Long DBT NUSS N/A N 2 2030-10-06 Fixed 7.35000000 N N N N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 1.00000000 NC USD 137.51000000 0.000022905131 N/A DFE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 -26380.23000000 USD 25500.00000000 EUR 2025-04-16 137.51000000 N N N Citibank, National Association E57ODZWZ7FF32TWEFA76 000000000 1.00000000 NC USD 154000.78000000 0.025652011543 N/A DFE CORP US N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 -35173821.58000000 BRL 6083015.68000000 USD 2025-04-02 154000.78000000 N N N OCCIDENTAL PETROLEUM COR IM7X0T3ECJW4C1T7ON55 674599DJ1 2690000.00000000 PA USD 2729171.78000000 0.454599944267 Long DBT CORP US N 2 2040-03-15 Fixed 6.20000000 N N N N N N MSWF Commercial Mortgage Trust N/A 55376CAD5 330000.00000000 PA USD 337964.42000000 0.056294956448 Long ABS-MBS CORP US N 2 2056-05-15 Fixed 5.47200000 N N N N N N NOTA DO TESOURO NACIONAL 254900ZFY40OYEADAP90 000000000 2446000.00000000 PA 384884.65000000 0.064110490120 Long DBT NUSS BR N 2 2027-01-01 Fixed 10.00000000 N N N N N N Citibank, National Association E57ODZWZ7FF32TWEFA76 000000000 1.00000000 NC USD -36301.74000000 -0.00604680478 N/A DFE CORP US N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 -35173821.58000000 BRL 5930354.41000000 USD 2025-03-06 -36301.74000000 N N N BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 000000000 144.00000000 NC USD 124129.42000000 0.020676319397 N/A DIR CORP US N 1 BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 Long US TREASURY N/B United States Treasury Note/Bond 2025-06-30 15418870.58000000 USD 124129.42000000 N N N GLENCORE FINANCE CANADA 5493005TTO0UJ33KCK70 98417EAR1 2330000.00000000 PA USD 2249004.54000000 0.374618170257 Long DBT CORP CA N 2 2042-10-25 Variable 5.55000000 N N N N N N MHC Commercial Mortgage Trust N/A 55316VAA2 371746.61000000 PA USD 371498.73000000 0.061880788593 Long ABS-MBS CORP US N 2 2038-04-15 Floating 5.22744200 N N N N N N GENERAL DYNAMICS CORP 9C1X8XOOTYY2FNYTVH06 369550BH0 30000.00000000 PA USD 26990.31000000 0.004495793746 Long DBT CORP US N 2 2040-04-01 Fixed 4.25000000 N N N N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 -13894716.38000000 PA USD -13894716.38000000 -2.31445207599 Short RA CORP US N 2 Reverse repurchase N 4.64000000 2025-06-05 14000000.00000000 USD 13337971.00000000 USD UST N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810FD5 13659170.00000000 PA USD 14615335.12000000 2.434486015023 Long DBT UST US N 2 2028-04-15 Fixed 3.62500000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810RF7 26541928.00000000 PA USD 23506381.04000000 3.915473400770 Long DBT UST US N 2 2044-02-15 Fixed 1.37500000 N N N N N N Fannie Mae - CAS N/A 20754CAF6 1660000.00000000 PA USD 1719591.01000000 0.286433409226 Long ABS-MBS CORP US N 2 2040-01-25 Floating 7.71649000 N N N N N N EXXON MOBIL CORPORATION J3WHBG0MTS7O8ZVMDC91 30231GBG6 6590000.00000000 PA USD 5606695.36000000 0.933910945753 Long DBT CORP US N 2 2050-03-19 Fixed 4.32700000 N N N N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 -22763151.19000000 PA USD -22763151.19000000 -3.79167311422 Short RA CORP US N 2 Reverse repurchase N 4.64000000 2025-06-05 15000000.00000000 USD 15618707.73000000 USD UST N N N ANGLO AMERICAN CAPITAL TINT358G1SSHR3L3PW36 034863AT7 1630000.00000000 PA USD 1600651.18000000 0.266621523259 Long DBT CORP GB N 2 2027-09-11 Fixed 4.00000000 N N N N N N BX Trust N/A 05608RAJ4 2230000.00000000 PA USD 2228988.25000000 0.371284043624 Long ABS-MBS CORP US N 2 2036-10-15 Floating 6.32188000 N N N N N N TARGA RESOURCES CORP 5493003QENHHS261UR94 87612GAA9 1300000.00000000 PA USD 1205596.07000000 0.200816932905 Long DBT CORP US N 2 2033-02-01 Fixed 4.20000000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 91282CAQ4 30408500.00000000 PA USD 30425803.04000000 5.068046089164 Long DBT UST US N 2 2025-10-15 Fixed 0.12500000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912828ZJ2 30546250.00000000 PA USD 30637984.06000000 5.103389221676 Long DBT UST US N 2 2025-04-15 Fixed 0.12500000 N N N N N N BROADCOM INC 549300WV6GIDOZJTV909 11135FBP5 400000.00000000 PA USD 333653.40000000 0.055576867002 Long DBT CORP US N 2 2035-11-15 Fixed 3.13700000 N N N N N N GLENCORE FUNDING LLC 213800STG1QDNBY87K49 378272AQ1 1630000.00000000 PA USD 1595222.66000000 0.265717291100 Long DBT CORP US N 2 2027-10-27 Fixed 3.87500000 N N N N N N EXXON MOBIL CORPORATION J3WHBG0MTS7O8ZVMDC91 30231GBM3 660000.00000000 PA USD 480790.99000000 0.080085672459 Long DBT CORP US N 2 2051-04-15 Fixed 3.45200000 N N N N N N BARRICK NA FINANCE LLC N/A 06849RAK8 1170000.00000000 PA USD 1193100.12000000 0.198735474268 Long DBT CORP US N 2 2043-05-01 Fixed 5.75000000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 9128283R9 7676880.00000000 PA USD 7508114.62000000 1.250631606563 Long DBT UST US N 2 2028-01-15 Fixed 0.50000000 N N N N N N BAUSCH HEALTH AMERICAS KOO0397YRO83WY5MGD97 91911XAV6 3130000.00000000 PA USD 3117010.50000000 0.519202495777 Long DBT CORP US N 2 2026-04-01 Fixed 9.25000000 N N N N N N EOG RESOURCES INC XWTZDRYZPBUHIQBKDB46 26875PAU5 70000.00000000 PA USD 69292.32000000 0.011542067465 Long DBT CORP US N 2 2030-04-15 Fixed 4.37500000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810FH6 111349560.00000000 PA USD 122224380.04000000 20.35899563432 Long DBT UST US N 2 2029-04-15 Fixed 3.87500000 N N N N N N Western Asset Premier Institutional Government Reserves 549300WB3XRN9YTWFB76 52470G494 20361739.23000000 NS USD 20361739.23000000 3.391668339452 Long STIV RF US N 1 N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 -20293839.20000000 PA USD -20293839.20000000 -3.38035818665 Short RA CORP US N 2 Reverse repurchase N 4.64000000 2025-06-05 19100000.00000000 USD 18583762.71000000 USD UST N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810PZ5 29399600.00000000 PA USD 30624917.12000000 5.101212652858 Long DBT UST US N 2 2029-01-15 Fixed 2.50000000 N N N N N N Citibank, National Association E57ODZWZ7FF32TWEFA76 000000000 1.00000000 NC USD 14296.88000000 0.002381440735 N/A DFE CORP US N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 -210974937.00000000 INR 2416942.80000000 USD 2025-04-16 14296.88000000 N N N Freddie Mac - STACR 5493000IT1PBTE7DAT80 35564KBD0 1176000.00000000 PA USD 1260717.63000000 0.209998567527 Long ABS-MBS CORP US N 2 2051-01-25 Floating 7.00201000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912828N71 92976800.00000000 PA USD 92772888.86000000 15.45324131459 Long DBT UST US N 2 2026-01-15 Fixed 0.62500000 N N N N N N SANDS CHINA LTD 549300EVO6UZDGY05787 80007RAS4 600000.00000000 PA USD 523651.26000000 0.087224935915 Long DBT CORP KY N 2 2031-08-08 Variable 3.25000000 N N N N N N LETRA TESOURO NACIONAL 254900ZFY40OYEADAP90 000000000 6687000.00000000 PA 1011408.97000000 0.168471059521 Long DBT NUSS BR N 2 2026-01-01 None 0.00000000 N N N N N N Citibank, National Association E57ODZWZ7FF32TWEFA76 000000000 1.00000000 NC USD -62688.31000000 -0.01044203316 N/A DFE CORP US N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 -5321476.34000000 USD 461771109.00000000 INR 2025-04-16 -62688.31000000 N N N BX Trust N/A 05610HAN3 1274000.00000000 PA USD 1274944.54000000 0.212368353313 Long ABS-MBS CORP US N 2 2039-02-15 Floating 8.41766000 N N N N N N CONTINENTAL RESOURCES XXRTID9RYWOZ0UPIVR53 212015AQ4 1820000.00000000 PA USD 1515052.18000000 0.252363241346 Long DBT CORP US N 2 2044-06-01 Fixed 4.90000000 N N N N N N WILLIAMS COMPANIES INC D71FAKCBLFS2O0RBPG08 969457BV1 2350000.00000000 PA USD 2360699.60000000 0.393223290104 Long DBT CORP US N 2 2044-06-24 Fixed 5.75000000 N N N N N N UNITED MEXICAN STATES 254900EGTWEU67VP6075 91087BAF7 3720000.00000000 PA USD 3607430.16000000 0.600892022152 Long DBT NUSS MX N 2 2029-04-22 Fixed 4.50000000 N N N N N N Fannie Mae - CAS N/A 20754GAE0 500000.00000000 PA USD 505810.20000000 0.084253138778 Long ABS-MBS CORP US N 2 2044-02-25 Floating 6.15201000 N N N N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 1.00000000 NC USD -13387.86000000 -0.00223002467 N/A DFE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 -3224423.02000000 USD 66448069.81000000 MXN 2025-04-16 -13387.86000000 N N N PETROBRAS GLOBAL FINANCE 549300FNENFFSMO3GT38 71647NAY5 1410000.00000000 PA USD 1427660.25000000 0.237806309899 Long DBT CORP NL N 2 2028-01-27 Fixed 5.99900000 N N N N N N ANTOFAGASTA PLC 213800MY6QVH4FVLD628 03718NAA4 1110000.00000000 PA USD 956253.35000000 0.159283751503 Long DBT CORP GB N 2 2030-10-14 Fixed 2.37500000 N N N N N N NOTA DO TESOURO NACIONAL 254900ZFY40OYEADAP90 000000000 36598171.50000000 PA 5771100.56000000 0.961296028401 Long DBT NUSS BR N 2 2030-08-15 Fixed 6.00000000 N N N N N N BX Trust N/A 05609XAA9 1300000.00000000 PA USD 1315031.12000000 0.219045601395 Long ABS-MBS CORP US N 2 2027-10-13 Fixed 5.76000000 N N N N N N PRKCM Trust N/A 693981AA0 1311686.25000000 PA USD 1321532.03000000 0.220128462264 Long ABS-MBS CORP US N 2 2058-02-25 Variable 6.59800000 N N N N N N Bear Stearns Asset Backed Secu N/A 07386UAM4 20479.78000000 PA USD 19440.30000000 0.003238183598 Long ABS-O CORP US N 2 2046-09-25 Floating 5.23378000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 91282CDX6 22201335.00000000 PA USD 19987762.88000000 3.329374852061 Long DBT UST US N 2 2032-01-15 Fixed 0.12500000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810FS2 25442080.00000000 PA USD 25686167.75000000 4.278561911410 Long DBT UST US N 2 2026-01-15 Fixed 2.00000000 N N N N N N Boca Commercial Mortgage Trust N/A 096817AA9 1080000.00000000 PA USD 1086677.75000000 0.181008629873 Long ABS-MBS CORP US N 2 2041-08-15 Floating 6.23254000 N N N N N N Freddie Mac - STACR 5493000IRI80KQJUNK40 35564KT58 1223080.62000000 PA USD 1245520.48000000 0.207467168223 Long ABS-MBS CORP US N 2 2043-04-25 Floating 6.45300000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810QF8 3796494.00000000 PA USD 3874547.56000000 0.645385943730 Long DBT UST US N 2 2040-02-15 Fixed 2.12500000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810QV3 20950950.00000000 PA USD 17050201.77000000 2.840063359587 Long DBT UST US N 2 2042-02-15 Fixed 0.75000000 N N N N N N REPUBLICA ORIENT URUGUAY 549300RDR012H2V82H43 917288BL5 155455595.06000000 PA 3925366.92000000 0.653850958059 Long DBT NUSS UY N 2 2040-07-02 Fixed 3.87500000 N N N N N N Freddie Mac - STACR 5493000IRILHAKSCHN59 35564KP37 533207.20000000 PA USD 542994.59000000 0.090446967157 Long ABS-MBS CORP US N 2 2043-03-25 Floating 6.45300000 N N N N N N Bank of America, National Association B4TYDEB6GKMZO031MB27 000000000 1.00000000 NC USD -6364.67000000 -0.00106016728 N/A DFE CORP US N 2 Bank of America, National Association B4TYDEB6GKMZO031MB27 -60377671.72000000 MXN 2911324.70000000 USD 2025-04-16 -6364.67000000 N N N Greystone Commercial Real Esta N/A 39809PAA3 654262.37000000 PA USD 654491.18000000 0.109019027725 Long ABS-CBDO CORP KY N 2 2039-07-15 Floating 5.44813000 N N N N N N COLUMBIA PIPELINE HOLDCO N/A 19828AAB3 1230000.00000000 PA USD 1275096.62000000 0.212393685379 Long DBT CORP US N 2 2028-08-15 Fixed 6.04200000 N N N N N N Fannie Mae - CAS N/A 207942AB9 510000.00000000 PA USD 537719.42000000 0.089568278609 Long ABS-MBS CORP US N 2 2043-06-25 Floating 7.45300000 N N N N N N ONEOK INC 2T3D6M0JSY48PSZI1Q41 682680BK8 1180000.00000000 PA USD 1230072.32000000 0.204893958018 Long DBT CORP US N 2 2030-11-01 Fixed 5.80000000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810TE8 20067198.00000000 PA USD 11725886.68000000 1.953188681739 Long DBT UST US N 2 2052-02-15 Fixed 0.12500000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 912810PS1 7825000.00000000 PA USD 8013931.10000000 1.334885791405 Long DBT UST US N 2 2027-01-15 Fixed 2.37500000 N N N N N N Freddie Mac - STACR 5493000IS349P4O9HR58 35564KYP8 1820000.00000000 PA USD 1958719.13000000 0.326265137965 Long ABS-MBS CORP US N 2 2042-06-25 Floating 8.85201000 N N N N N N ENERGY TRANSFER LP MTLVN9N7JE8MIBIJ1H73 29278NAG8 1200000.00000000 PA USD 1218228.28000000 0.202921088460 Long DBT CORP US N 2 2029-04-15 Fixed 5.25000000 N N N N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 1.00000000 NC USD -184177.33000000 -0.03067853938 N/A DFE CORP US N 2 MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 -3566117405.00000000 CLP 3528014.84000000 USD 2025-04-16 -184177.33000000 N N N COMMODITY EXCHANGE, INC. N/A 000000000 40.00000000 NC USD -30285.19000000 -0.00504462408 N/A DCO CORP US N 1 COMMODITY EXCHANGE, INC. N/A Long COPPER COPPER 2025-09-26 4660285.19000000 USD -30285.19000000 N N N SREIT Trust N/A 85237AAC7 1930000.00000000 PA USD 1918918.71000000 0.319635555743 Long ABS-MBS CORP US N 2 2034-10-15 Floating 5.23648000 N N N N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 -16670316.83000000 PA USD -16670316.83000000 -2.77678567446 Short RA CORP US N 2 Reverse repurchase N 4.64000000 2025-06-05 15000000.00000000 USD 14815864.00000000 USD UST N N N CRSO 2023-BRND A N/A 000000000 750000.00000000 PA USD 787649.40000000 0.131199280296 Long DBT CORP US N 2 2028-07-10 Floating 7.12069920 N N N N N N BX Trust N/A 05609KAG4 1225000.00000000 PA USD 1223131.39000000 0.203737802728 Long ABS-MBS CORP US N 2 2038-10-15 Floating 5.82318000 N N N N N N Citigroup Commercial Mortgage N/A 17291NAA9 570000.00000000 PA USD 585999.79000000 0.097610371698 Long ABS-MBS CORP US N 2 2040-10-12 Variable 5.81960500 N N N N N N Freddie Mac - STACR 529900N6M839KA246662 35564NBA0 1850000.00000000 PA USD 1874077.38000000 0.312166305816 Long ABS-MBS CORP US N 2 2044-02-25 Floating 6.30201000 N N N N N N Citibank, National Association E57ODZWZ7FF32TWEFA76 000000000 1.00000000 NC USD -150530.21000000 -0.02507391640 N/A DFE CORP US N 2 Citibank, National Association E57ODZWZ7FF32TWEFA76 -6117186.36000000 USD 35173821.58000000 BRL 2025-03-06 -150530.21000000 N N N INTERCONTINENTAL EXCHANGE, INC. 5493000F4ZO33MV32P92 000000000 1.00000000 NC USD 1434281.92000000 0.238909285840 N/A DCR CORP US N 2 INTERCONTINENTAL EXCHANGE, INC. 5493000F4ZO33MV32P92 IHS MARKIT LTD CDX.NA.IG.43.V1 Y Default Event 2029-12-20 1236134.78000000 USD 0.00000000 USD 59895000.00000000 USD 198147.14000000 N N N Morgan Stanley Capital I Trust N/A 62479WAA9 1903704.71000000 PA USD 1900134.69000000 0.316506689137 Long ABS-MBS CORP US N 2 2036-11-15 Floating 5.20438000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 91282CCA7 39713850.00000000 PA USD 39320319.90000000 6.549611631677 Long DBT UST US N 2 2026-04-15 Fixed 0.12500000 N N N N N N GOLDMAN SACHS & CO. LLC FOR8UP27PHTHYVLBNG30 000000000 1.00000000 NC USD 1271.17000000 0.000211739625 N/A DFE CORP US N 2 GOLDMAN SACHS & CO. LLC FOR8UP27PHTHYVLBNG30 -20747208.00000000 MXN 1003858.82000000 USD 2025-04-16 1271.17000000 N N N BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 000000000 -107.00000000 NC USD -213349.44000000 -0.03553775700 N/A DIR CORP US N 1 BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 Short US TREASURY N/B United States Treasury Note/Bond 2025-06-18 -12422681.81000000 USD -213349.44000000 N N N Fannie Mae - CAS N/A 20754HAD0 394418.67000000 PA USD 408947.04000000 0.068118578300 Long ABS-MBS CORP US N 2 2039-07-25 Floating 8.56649000 N N N N N N BrightSpire Capital, Inc N/A 05591XAA9 772002.19000000 PA USD 771224.03000000 0.128463295577 Long ABS-CBDO CORP KY N 2 2038-08-19 Floating 5.57813000 N N N N N N COMMODITY EXCHANGE, INC. N/A 000000000 200.00000000 NC USD 1183487.50000000 0.197134293811 N/A DCO CORP US N 1 COMMODITY EXCHANGE, INC. N/A Long COPPER COPPER 2025-05-28 21556512.50000000 USD 1183487.50000000 N N N PRKCM Trust N/A 69391XAA7 1282305.53000000 PA USD 1298399.87000000 0.216275323108 Long ABS-MBS CORP US N 2 2059-05-25 Variable 6.43100000 N N N N N N QAZAQGAZ NC JSC 635400YGLXBBSVHONW39 48668NAA9 4000000.00000000 PA USD 3860424.00000000 0.643033373022 Long DBT CORP KZ N 2 2027-09-26 Fixed 4.37500000 N N N N N N Onslow Bay Financial LLC 254900HMH8TR6ZSMCB34 673911AE3 1553636.36000000 PA USD 1564134.13000000 0.260538854144 Long ABS-MBS CORP US N 2 2064-11-25 Variable 6.01500000 N N N N N N MF1 Multifamily Housing Mortga N/A 55285AAA5 2264213.84000000 PA USD 2266959.02000000 0.377608859838 Long ABS-CBDO CORP US N 2 2037-06-19 Floating 6.46180000 N N N N N N YAMANA GOLD INC 54930002VY22NXG01418 98462YAD2 1360000.00000000 PA USD 1348615.85000000 0.224639832033 Long DBT CORP CA N 2 2027-12-15 Fixed 4.62500000 N N N N N N BAUSCH HEALTH AMERICAS KOO0397YRO83WY5MGD97 91911XAW4 1970000.00000000 PA USD 1911431.90000000 0.318388472861 Long DBT CORP US N 2 2027-01-31 Fixed 8.50000000 N N N N N N WELLS FARGO & COMPANY PBLD0EJDB5FWOLXP3B76 95000U2M4 4480000.00000000 PA USD 4141172.04000000 0.689797759299 Long DBT CORP US N 2 2051-04-04 Fixed 5.01300000 N N N N N N GENERAL DYNAMICS CORP 9C1X8XOOTYY2FNYTVH06 369550BJ6 3470000.00000000 PA USD 2945262.05000000 0.490594243131 Long DBT CORP US N 2 2050-04-01 Fixed 4.25000000 N N N N N N Banc of America Funding Corpor N/A 05990TAP2 3791537.64000000 PA USD 3069014.27000000 0.511207732075 Long ABS-MBS CORP US N 2 2036-09-29 Variable 4.49890000 N N N N N N BENCHMARK Mortgage Trust N/A 08163JAG9 8097328.33000000 PA USD 333669.85000000 0.055579607090 Long ABS-MBS CORP US N 2 2054-09-15 Variable 1.02097500 N N N N N N INTERCONTINENTAL EXCHANGE, INC. 5493000F4ZO33MV32P92 000000000 1.00000000 NC USD 3109457.10000000 0.517944320955 N/A DCR CORP US N 2 INTERCONTINENTAL EXCHANGE, INC. 5493000F4ZO33MV32P92 IHS MARKIT LTD CDX.NA.HY.43.V1 Y Default Event 2029-12-20 2389353.97000000 USD 0.00000000 USD 35993000.00000000 USD 720103.13000000 N N N NOTA DO TESOURO NACIONAL 254900ZFY40OYEADAP90 000000000 22650941.05200000 PA 3208646.62000000 0.534466384753 Long DBT NUSS BR N 2 2050-08-15 Fixed 6.00000000 N N N N N N MORGAN STANLEY & CO. LLC 9R7GPTSO7KV3UQJZQ078 000000000 -3178138.75000000 PA USD -3178138.75000000 -0.52938466871 Short RA CORP US N 2 Reverse repurchase N 4.64000000 2025-06-05 2000000.00000000 USD 2083622.09000000 USD UST N N N T-MOBILE USA INC 549300V2JRLO5DIFGE82 87264ABD6 100000.00000000 PA USD 98452.18000000 0.016399244587 Long DBT CORP US N 2 2027-04-15 Fixed 3.75000000 N N N N N N GLENCORE FUNDING LLC 213800STG1QDNBY87K49 378272AN8 500000.00000000 PA USD 494180.15000000 0.082315913675 Long DBT CORP US N 2 2027-03-27 Fixed 4.00000000 N N N N N N HALLIBURTON CO ENYF8GB5SMQZ25S06U51 406216BG5 11000.00000000 PA USD 10938.91000000 0.001822101456 Long DBT CORP US N 2 2025-11-15 Fixed 3.80000000 N N N N N N TSY INFL IX N/B 254900HROIFWPRGM1V77 91282CCM1 7065240.00000000 PA USD 6456223.02000000 1.075417328649 Long DBT UST US N 2 2031-07-15 Fixed 0.12500000 N N N N N N SANDS CHINA LTD 549300EVO6UZDGY05787 80007RAQ8 200000.00000000 PA USD 181327.58000000 0.030203854651 Long DBT CORP KY N 2 2029-03-08 Variable 2.85000000 N N N N N N EQT CORP 4NT01YGM4X7ZX86ISY52 26884LAL3 1240000.00000000 PA USD 1245850.44000000 0.207522129878 Long DBT CORP US N 2 2029-01-15 Fixed 5.00000000 N N N N N N Freddie Mac - STACR 529900GRKKKHILZX4347 35564NCW1 754430.12000000 PA USD 758326.00000000 0.126314862209 Long ABS-MBS CORP US N 2 2044-05-25 Floating 5.60201000 N N N N N N Fannie Mae - CAS N/A 20755AAD4 480000.00000000 PA USD 531465.89000000 0.088526623990 Long ABS-MBS CORP US N 2 2043-01-25 Floating 9.90201000 N N N N N N Hawaii Hotel Trust 2019-MAUI N/A 41975AAL6 1760000.00000000 PA USD 1760413.60000000 0.293233254979 Long ABS-MBS CORP US N 2 2038-05-15 Floating 7.35901000 N N N N N N ALCOA NEDERLAND HOLDING 5493000UL1QLQLT1VQ42 013822AC5 570000.00000000 PA USD 572556.45000000 0.095371105684 Long DBT CORP NL N 2 2028-05-15 Fixed 6.12500000 N N N N N N ENTERPRISE PRODUCTS OPER 5493004LGN656HWLDA30 29379VBV4 2880000.00000000 PA USD 2718970.76000000 0.452900753635 Long DBT CORP US N 2 2029-07-31 Fixed 3.12500000 N N N N N N SANDS CHINA LTD 549300EVO6UZDGY05787 80007RAE5 2480000.00000000 PA USD 2490668.96000000 0.414872372161 Long DBT CORP KY N 2 2028-08-08 Variable 5.40000000 N N N N N N REPUBLICA ORIENT URUGUAY 549300RDR012H2V82H43 760942AU6 331635474.00000000 PA 7979893.07000000 1.329216054287 Long DBT NUSS UY N 2 2027-04-05 Fixed 4.25000000 N N N N N N BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 000000000 -209.00000000 NC USD -773032.98000000 -0.12876461357 N/A DIR CORP US N 1 BOARD OF TRADE OF THE CITY OF CHICAGO, INC. 549300EX04Q2QBFQTQ27 Short US TREASURY N/B United States Treasury Note/Bond 2025-06-18 -25169092.02000000 USD -773032.98000000 N N N MEX BONOS DESARR FIX RT 254900EGTWEU67VP6075 000000000 88280000.00000000 PA 3516760.29000000 0.585789082077 Long DBT NUSS MX N 2 2042-11-13 Fixed 7.75000000 N N N N N N 2025-04-24 Western Asset Inflation-Linked Opportunities & Income Fund Christopher Berarducci Christopher Berarducci Principal Financial Officer XXXX