WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CORPORATE BONDS & NOTES - 36.4%
COMMUNICATION SERVICES - 3.3%
Diversified Telecommunication Services - 1.2%
Altice France SA, Senior Secured Notes		7.375	%		5/1/26		34,775,000	$	36,477,236	(a)
AT&T Inc., Senior Notes		3.800	%		2/15/27		1,250,000		1,412,243
AT&T Inc., Senior Notes		2.300	%		6/1/27		25,680,000		26,951,378
AT&T Inc., Senior Notes		1.650	%		2/1/28		37,680,000		37,840,302
AT&T Inc., Senior Notes		2.250	%		2/1/32		14,430,000		14,483,246
AT&T Inc., Senior Notes		3.100	%		2/1/43		26,840,000		26,324,706
AT&T Inc., Senior Notes		4.350	%		6/15/45		6,469,000		7,270,444
AT&T Inc., Senior Notes		3.550	%		9/15/55		22,321,000		21,739,721	(a)
Telecom Italia SpA, Senior Notes		5.303	%		5/30/24		5,794,000		6,280,841	(a)
Telefonica Emisiones SA, Senior Notes		5.213	%		3/8/47		6,160,000		7,342,129
Telefonica Emisiones SA, Senior Notes		4.895	%		3/6/48		11,960,000		13,831,168
Verizon Communications Inc., Senior Notes		3.500	%		11/1/24		6,660,000		7,359,634
Verizon Communications Inc., Senior Notes		3.376	%		2/15/25		36,618,000		40,854,961
Verizon Communications Inc., Senior Notes		2.625	%		8/15/26		5,622,000		6,153,774
Verizon Communications Inc., Senior Notes		4.125	%		3/16/27		5,755,000		6,812,005
Verizon Communications Inc., Senior Notes		3.000	%		3/22/27		4,820,000		5,374,150
Verizon Communications Inc., Senior Notes		4.329	%		9/21/28		27,937,000		33,920,353
Verizon Communications Inc., Senior Notes		3.875	%		2/8/29		4,900,000		5,809,045
Verizon Communications Inc., Senior Notes		3.150	%		3/22/30		10,510,000		11,905,482
Verizon Communications Inc., Senior Notes		4.500	%		8/10/33		23,345,000		29,669,632
Verizon Communications Inc., Senior Notes		4.400	%		11/1/34		2,200,000		2,748,525
Verizon Communications Inc., Senior Notes		4.272	%		1/15/36		1,140,000		1,409,474
Verizon Communications Inc., Senior Notes		5.250	%		3/16/37		11,010,000		15,283,785

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         1

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Diversified Telecommunication Services - (continued)
Verizon Communications Inc., Senior Notes		3.850	%		11/1/42		4,840,000	$	5,779,803
Verizon Communications Inc., Senior Notes		4.125	%		8/15/46		9,310,000		11,545,139
Verizon Communications Inc., Senior Notes		4.862	%		8/21/46		12,748,000		17,464,600
Verizon Communications Inc., Senior Notes		5.500	%		3/16/47		1,455,000		2,200,547
Verizon Communications Inc., Senior Notes		4.522	%		9/15/48		5,339,000		7,019,193
Verizon Communications Inc., Senior Notes		4.000	%		3/22/50		24,170,000		29,920,826
Total Diversified Telecommunication Services									441,184,342
Entertainment - 0.0%††
Netflix Inc., Senior Notes		5.375	%		2/1/21		2,675,000		2,708,438
ViacomCBS Inc., Senior Notes		3.875	%		4/1/24		1,720,000		1,875,376
Walt Disney Co., Senior Notes		4.500	%		2/15/21		8,000		8,126
Walt Disney Co., Senior Notes		6.200	%		12/15/34		260,000		385,039
Walt Disney Co., Senior Notes		6.650	%		11/15/37		5,240,000		7,927,667
Total Entertainment									12,904,646
Interactive Media & Services - 0.1%
Alphabet Inc., Senior Notes		0.450	%		8/15/25		3,590,000		3,583,199
Alphabet Inc., Senior Notes		0.800	%		8/15/27		6,770,000		6,752,172
Alphabet Inc., Senior Notes		1.100	%		8/15/30		7,900,000		7,883,433
Alphabet Inc., Senior Notes		2.050	%		8/15/50		12,760,000		12,008,941
Total Interactive Media & Services									30,227,745
Media - 1.5%
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		5.125	%		5/1/27		7,837,000		8,256,711	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		5.000	%		2/1/28		5,450,000		5,727,950	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		8/15/30		1,460,000		1,534,898	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		5/1/32		15,743,000		16,451,435	(a)

See Notes to Schedule of Investments.

    2     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.908	%		7/23/25		29,327,000	$	33,943,714
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.200	%		3/15/28		55,869,000		63,486,711
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.050	%		3/30/29		19,860,000		23,836,766
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		2.800	%		4/1/31		15,060,000		15,711,520
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		4/1/38		15,910,000		19,496,967
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.484	%		10/23/45		6,620,000		8,897,664
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.750	%		4/1/48		450,000		562,684
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.800	%		3/1/50		6,040,000		6,902,234

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         3

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.834	%		10/23/55		2,608,000	$	3,620,687
Comcast Cable Communications Holdings Inc., Senior Notes		9.455	%		11/15/22		3,150,000		3,753,417
Comcast Corp., Senior Notes		3.100	%		4/1/25		949,000		1,046,934
Comcast Corp., Senior Notes		3.375	%		8/15/25		3,940,000		4,396,743
Comcast Corp., Senior Notes		3.950	%		10/15/25		26,460,000		30,404,726
Comcast Corp., Senior Notes		3.150	%		3/1/26		9,960,000		11,136,094
Comcast Corp., Senior Notes		3.300	%		4/1/27		12,400,000		14,037,494
Comcast Corp., Senior Notes		4.150	%		10/15/28		55,830,000		67,367,750
Comcast Corp., Senior Notes		3.400	%		4/1/30		7,960,000		9,206,960
Comcast Corp., Senior Notes		4.250	%		10/15/30		14,475,000		17,790,509
Comcast Corp., Senior Notes		4.250	%		1/15/33		1,710,000		2,129,964
Comcast Corp., Senior Notes		4.200	%		8/15/34		244,000		304,264
Comcast Corp., Senior Notes		5.650	%		6/15/35		60,000		85,500
Comcast Corp., Senior Notes		6.500	%		11/15/35		2,250,000		3,416,457
Comcast Corp., Senior Notes		3.900	%		3/1/38		8,310,000		9,886,203
Comcast Corp., Senior Notes		3.250	%		11/1/39		1,580,000		1,762,038
Comcast Corp., Senior Notes		3.750	%		4/1/40		2,020,000		2,372,314
Comcast Corp., Senior Notes		3.400	%		7/15/46		1,550,000		1,730,684
Comcast Corp., Senior Notes		3.969	%		11/1/47		221,000		265,098
Comcast Corp., Senior Notes		4.000	%		3/1/48		2,230,000		2,714,117
Comcast Corp., Senior Notes		4.700	%		10/15/48		3,560,000		4,763,908
Comcast Corp., Senior Notes		3.999	%		11/1/49		9,626,000		11,722,827
Comcast Corp., Senior Notes		3.450	%		2/1/50		11,030,000		12,507,346
DISH DBS Corp., Senior Notes		5.875	%		11/15/24		17,424,000		17,893,838
DISH DBS Corp., Senior Notes		7.750	%		7/1/26		3,240,000		3,566,025
Fox Corp., Senior Notes		4.709	%		1/25/29		2,110,000		2,533,590
Fox Corp., Senior Notes		5.476	%		1/25/39		13,410,000		17,982,404
Fox Corp., Senior Notes		5.576	%		1/25/49		430,000		595,907
Prosus NV, Senior Notes		4.850	%		7/6/27		18,070,000		20,647,505	(a)
Time Warner Cable LLC, Senior Secured Notes		4.125	%		2/15/21		8,351,000		8,383,717
Time Warner Cable LLC, Senior Secured Notes		7.300	%		7/1/38		8,925,000		12,660,119
Time Warner Cable LLC, Senior Secured Notes		6.750	%		6/15/39		3,295,000		4,466,405

See Notes to Schedule of Investments.

    4     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Time Warner Cable LLC, Senior Secured Notes		5.875	%		11/15/40		8,447,000	$	10,558,572
Time Warner Entertainment Co. LP, Senior Secured Notes		8.375	%		7/15/33		2,060,000		3,159,333
Virgin Media Secured Finance PLC, Senior Secured Notes		5.500	%		8/15/26		200,000		208,875	(a)
Virgin Media Secured Finance PLC, Senior Secured Notes		5.500	%		5/15/29		2,820,000		3,031,613	(a)
Total Media									526,919,191
Wireless Telecommunication Services - 0.5%
CSC Holdings LLC, Senior Notes		5.375	%		2/1/28		760,000		804,650	(a)
CSC Holdings LLC, Senior Notes		4.125	%		12/1/30		450,000		459,112	(a)
Sprint Capital Corp., Senior Notes		6.875	%		11/15/28		635,000		794,941
Sprint Capital Corp., Senior Notes		8.750	%		3/15/32		10,530,000		15,424,449
Sprint Corp., Senior Notes		7.875	%		9/15/23		930,000		1,070,081
Sprint Corp., Senior Notes		7.625	%		2/15/25		5,365,000		6,287,109
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, Senior Secured Notes		3.360	%		9/20/21		1,150,000		1,164,680	(a)
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, Senior Secured Notes		4.738	%		3/20/25		1,690,000		1,832,594	(a)
T-Mobile USA Inc., Senior Notes		6.000	%		3/1/23		500,000		501,925
T-Mobile USA Inc., Senior Notes		6.000	%		4/15/24		320,000		327,101
T-Mobile USA Inc., Senior Secured Notes		3.500	%		4/15/25		57,300,000		62,932,590	(a)
T-Mobile USA Inc., Senior Secured Notes		3.750	%		4/15/27		2,920,000		3,279,569	(a)
T-Mobile USA Inc., Senior Secured Notes		2.050	%		2/15/28		3,310,000		3,392,982	(a)(b)
T-Mobile USA Inc., Senior Secured Notes		3.875	%		4/15/30		37,290,000		42,356,592	(a)
T-Mobile USA Inc., Senior Secured Notes		2.550	%		2/15/31		9,660,000		10,006,407	(a)(b)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         5

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Wireless Telecommunication Services - (continued)
T-Mobile USA Inc., Senior Secured Notes		4.375	%		4/15/40		4,880,000	$	5,725,070	(a)
Vodafone Group PLC, Senior Notes		4.375	%		5/30/28		23,910,000		28,339,855
Total Wireless Telecommunication Services									184,699,707
TOTAL COMMUNICATION SERVICES									1,195,935,631
CONSUMER DISCRETIONARY - 2.3%
Automobiles - 0.5%
BMW US Capital LLC, Senior Notes		1.850	%		9/15/21		1,590,000		1,609,666	(a)
Ford Motor Co., Senior Notes		8.500	%		4/21/23		4,890,000		5,337,899
Ford Motor Co., Senior Notes		9.000	%		4/22/25		3,850,000		4,419,011
Ford Motor Co., Senior Notes		4.750	%		1/15/43		2,720,000		2,467,856
Ford Motor Credit Co. LLC, Senior Notes		5.750	%		2/1/21		2,940,000		2,965,725
Ford Motor Credit Co. LLC, Senior Notes		3.336	%		3/18/21		900,000		901,350
Ford Motor Credit Co. LLC, Senior Notes		5.875	%		8/2/21		21,080,000		21,514,775
Ford Motor Credit Co. LLC, Senior Notes		3.664	%		9/8/24		1,190,000		1,166,557
Ford Motor Credit Co. LLC, Senior Notes		5.125	%		6/16/25		290,000		299,425
Ford Motor Credit Co. LLC, Senior Notes		4.125	%		8/17/27		5,890,000		5,739,069
Ford Motor Credit Co. LLC, Senior Notes		3.815	%		11/2/27		250,000		238,825
General Motors Co., Senior Notes		5.400	%		10/2/23		5,770,000		6,366,855
General Motors Co., Senior Notes		6.125	%		10/1/25		10,170,000		11,831,913
General Motors Co., Senior Notes		5.150	%		4/1/38		2,050,000		2,179,525
General Motors Co., Senior Notes		6.250	%		10/2/43		3,640,000		4,319,261
General Motors Co., Senior Notes		5.950	%		4/1/49		8,120,000		9,542,409
General Motors Financial Co. Inc., Senior Notes		2.450	%		11/6/20		3,110,000		3,115,032
General Motors Financial Co. Inc., Senior Notes		4.375	%		9/25/21		3,650,000		3,766,324

See Notes to Schedule of Investments.

    6     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Automobiles - (continued)
General Motors Financial Co. Inc., Senior Notes		3.450	%		4/10/22		7,930,000	$	8,154,646
General Motors Financial Co. Inc., Senior Notes		4.250	%		5/15/23		920,000		978,041
General Motors Financial Co. Inc., Senior Notes		4.350	%		1/17/27		2,340,000		2,544,855
Nissan Motor Co. Ltd., Senior Notes		3.043	%		9/15/23		19,290,000		19,568,302	(a)
Nissan Motor Co. Ltd., Senior Notes		3.522	%		9/17/25		39,970,000		40,372,223	(a)
Nissan Motor Co. Ltd., Senior Notes		4.345	%		9/17/27		39,240,000		39,367,038	(a)
Total Automobiles									198,766,582
Diversified Consumer Services - 0.0%††
Prime Security Services Borrower LLC/Prime Finance Inc., Senior Secured Notes		5.750	%		4/15/26		8,450,000		9,054,978	(a)
Service Corp. International, Senior Notes		7.500	%		4/1/27		3,167,000		3,780,004
Total Diversified Consumer Services									12,834,982
Hotels, Restaurants & Leisure - 0.6%
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		4.250	%		5/15/24		6,388,000		6,512,247	(a)
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		5.750	%		4/15/25		1,225,000		1,309,611	(a)
GLP Capital LP/GLP Financing II Inc., Senior Notes		5.250	%		6/1/25		320,000		348,262
GLP Capital LP/GLP Financing II Inc., Senior Notes		5.375	%		4/15/26		1,996,000		2,215,909
Hilton Domestic Operating Co. Inc., Senior Notes		5.375	%		5/1/25		10,770,000		11,257,881	(a)
Hilton Domestic Operating Co. Inc., Senior Notes		5.125	%		5/1/26		3,130,000		3,232,758
Hilton Domestic Operating Co. Inc., Senior Notes		5.750	%		5/1/28		4,400,000		4,644,750	(a)
Hilton Worldwide Finance LLC/ Hilton Worldwide Finance Corp., Senior Notes		4.625	%		4/1/25		605,000		613,255

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         7

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Hotels, Restaurants & Leisure - (continued)
Hilton Worldwide Finance LLC/ Hilton Worldwide Finance Corp., Senior Notes		4.875	%		4/1/27		4,930,000	$	5,017,754
Las Vegas Sands Corp., Senior Notes		3.200	%		8/8/24		28,850,000		29,189,317
Las Vegas Sands Corp., Senior Notes		2.900	%		6/25/25		2,130,000		2,129,636
McDonald’s Corp., Senior Notes		3.375	%		5/26/25		1,719,000		1,913,725
McDonald’s Corp., Senior Notes		3.300	%		7/1/25		9,140,000		10,178,651
McDonald’s Corp., Senior Notes		1.450	%		9/1/25		2,140,000		2,210,333
McDonald’s Corp., Senior Notes		3.700	%		1/30/26		16,745,000		19,095,208
McDonald’s Corp., Senior Notes		3.500	%		3/1/27		12,680,000		14,376,739
McDonald’s Corp., Senior Notes		3.500	%		7/1/27		3,360,000		3,834,090
McDonald’s Corp., Senior Notes		3.800	%		4/1/28		4,300,000		5,024,486
McDonald’s Corp., Senior Notes		3.600	%		7/1/30		9,300,000		10,871,327
McDonald’s Corp., Senior Notes		3.625	%		9/1/49		1,610,000		1,817,774
McDonald’s Corp., Senior Notes		4.200	%		4/1/50		25,460,000		31,154,580
Sands China Ltd., Senior Notes		4.600	%		8/8/23		16,228,000		17,341,403
Sands China Ltd., Senior Notes		5.125	%		8/8/25		17,040,000		18,643,379
Sands China Ltd., Senior Notes		3.800	%		1/8/26		7,500,000		7,867,425	(a)
Sands China Ltd., Senior Notes		5.400	%		8/8/28		6,900,000		7,700,262
VOC Escrow Ltd., Senior Secured Notes		5.000	%		2/15/28		9,225,000		8,188,894	(a)
Wynn Macau Ltd., Senior Notes		5.625	%		8/26/28		11,450,000		11,135,125	(a)
Total Hotels, Restaurants & Leisure									237,824,781
Household Durables - 0.1%
Lennar Corp., Senior Notes		4.500	%		4/30/24		5,640,000		6,045,375
Lennar Corp., Senior Notes		4.750	%		5/30/25		1,350,000		1,476,883
Lennar Corp., Senior Notes		5.000	%		6/15/27		420,000		475,650
Lennar Corp., Senior Notes		4.750	%		11/29/27		8,000,000		9,144,000
MDC Holdings Inc., Senior Notes		6.000	%		1/15/43		4,800,000		5,817,000
Newell Brands Inc., Senior Notes		4.350	%		4/1/23		2,188,000		2,289,808
Newell Brands Inc., Senior Notes		4.700	%		4/1/26		150,000		159,965
Toll Brothers Finance Corp., Senior Notes		4.375	%		4/15/23		4,740,000		4,971,691
Total Household Durables									30,380,372

See Notes to Schedule of Investments.

    8     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Internet & Direct Marketing Retail - 0.4%
Amazon.com Inc., Senior Notes		0.800	%		6/3/25		17,270,000	$	17,505,167
Amazon.com Inc., Senior Notes		1.200	%		6/3/27		21,140,000		21,467,201
Amazon.com Inc., Senior Notes		3.150	%		8/22/27		15,280,000		17,443,604
Amazon.com Inc., Senior Notes		1.500	%		6/3/30		19,890,000		20,352,257
Amazon.com Inc., Senior Notes		3.875	%		8/22/37		6,800,000		8,487,628
Amazon.com Inc., Senior Notes		4.950	%		12/5/44		10,095,000		14,398,508
Amazon.com Inc., Senior Notes		4.050	%		8/22/47		8,290,000		10,808,320
Amazon.com Inc., Senior Notes		2.500	%		6/3/50		16,950,000		17,397,248
Amazon.com Inc., Senior Notes		4.250	%		8/22/57		3,240,000		4,442,077
Total Internet & Direct Marketing Retail									132,302,010
Multiline Retail - 0.0%††
Dollar General Corp., Senior Notes		3.250	%		4/15/23		1,380,000		1,464,867
Specialty Retail - 0.4%
Home Depot Inc., Senior Notes		2.500	%		4/15/27		8,648,000		9,419,237
Home Depot Inc., Senior Notes		3.900	%		12/6/28		1,590,000		1,885,043
Home Depot Inc., Senior Notes		2.700	%		4/15/30		9,310,000		10,386,624
Home Depot Inc., Senior Notes		3.300	%		4/15/40		10,560,000		12,048,482
Home Depot Inc., Senior Notes		3.900	%		6/15/47		1,736,000		2,147,089
Home Depot Inc., Senior Notes		3.350	%		4/15/50		28,325,000		32,980,144
Lowe’s Cos. Inc., Senior Notes		4.500	%		4/15/30		5,940,000		7,386,219
Lowe’s Cos. Inc., Senior Notes		5.000	%		4/15/40		4,140,000		5,448,379
Lowe’s Cos. Inc., Senior Notes		5.125	%		4/15/50		18,690,000		25,927,783
Target Corp., Senior Notes		2.250	%		4/15/25		13,960,000		14,980,715
TJX Cos. Inc., Senior Notes		3.500	%		4/15/25		9,200,000		10,257,378
TJX Cos. Inc., Senior Notes		3.750	%		4/15/27		2,780,000		3,191,642
Total Specialty Retail									136,058,735
Textiles, Apparel & Luxury Goods - 0.3%
Hanesbrands Inc., Senior Notes		4.625	%		5/15/24		1,177,000		1,226,899	(a)
Hanesbrands Inc., Senior Notes		5.375	%		5/15/25		9,300,000		9,823,125	(a)
Hanesbrands Inc., Senior Notes		4.875	%		5/15/26		4,810,000		5,143,694	(a)
Levi Strauss & Co., Senior Notes		5.000	%		5/1/25		8,420,000		8,630,500
NIKE Inc., Senior Notes		2.400	%		3/27/25		7,830,000		8,420,642
NIKE Inc., Senior Notes		2.750	%		3/27/27		12,570,000		14,000,937
NIKE Inc., Senior Notes		2.850	%		3/27/30		12,240,000		13,775,207

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         9

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Textiles, Apparel & Luxury Goods - (continued)
NIKE Inc., Senior Notes		3.250	%		3/27/40		8,570,000	$	9,840,680
NIKE Inc., Senior Notes		3.375	%		3/27/50		25,832,000		30,321,196
Total Textiles, Apparel & Luxury Goods									101,182,880
TOTAL CONSUMER DISCRETIONARY									850,815,209
CONSUMER STAPLES - 2.8%
Beverages - 1.0%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.650	%		2/1/26		37,240,000		41,795,083
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.900	%		2/1/46		22,020,000		27,235,245
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.150	%		1/23/25		13,410,000		15,188,674
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.000	%		4/13/28		9,240,000		10,720,373
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.750	%		1/23/29		30,630,000		37,432,833
Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.500	%		6/1/30		7,380,000		8,416,950
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.350	%		6/1/40		17,580,000		20,631,104
Anheuser-Busch InBev Worldwide Inc., Senior Notes		5.550	%		1/23/49		1,500,000		2,023,054
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.500	%		6/1/50		33,120,000		39,903,632
Coca-Cola Co., Senior Notes		2.950	%		3/25/25		6,040,000		6,645,183
Coca-Cola Co., Senior Notes		3.375	%		3/25/27		7,590,000		8,713,968
Coca-Cola Co., Senior Notes		1.450	%		6/1/27		15,310,000		15,774,596
Coca-Cola Co., Senior Notes		2.500	%		6/1/40		3,050,000		3,210,528
Coca-Cola Co., Senior Notes		2.600	%		6/1/50		6,290,000		6,348,456
Coca-Cola Co., Senior Notes		2.500	%		3/15/51		6,230,000		6,243,651
Constellation Brands Inc., Senior Notes		4.250	%		5/1/23		1,395,000		1,522,049
Cott Holdings Inc., Senior Notes		5.500	%		4/1/25		6,830,000		7,009,287	(a)
Diageo Investment Corp., Senior Notes		2.875	%		5/11/22		15,570,000		16,190,445
Molson Coors Beverage Co., Senior Notes		3.500	%		5/1/22		1,370,000		1,424,710

See Notes to Schedule of Investments.

    10     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Beverages - (continued)
Molson Coors Beverage Co., Senior Notes		3.000	%		7/15/26		3,245,000	$	3,463,985
Molson Coors Beverage Co., Senior Notes		4.200	%		7/15/46		3,390,000		3,581,558
PepsiCo Inc., Senior Notes		0.750	%		5/1/23		16,050,000		16,223,544
PepsiCo Inc., Senior Notes		2.250	%		3/19/25		1,580,000		1,694,180
PepsiCo Inc., Senior Notes		2.625	%		3/19/27		1,617,000		1,778,099
PepsiCo Inc., Senior Notes		1.625	%		5/1/30		13,210,000		13,600,619
PepsiCo Inc., Senior Notes		4.000	%		3/5/42		4,980,000		6,274,433
PepsiCo Inc., Senior Notes		2.875	%		10/15/49		4,750,000		5,126,578
PepsiCo Inc., Senior Notes		3.625	%		3/19/50		2,220,000		2,704,089
PepsiCo Inc., Senior Notes		3.875	%		3/19/60		2,900,000		3,673,765
Pernod Ricard SA, Senior Notes		4.450	%		1/15/22		10,485,000		11,006,555	(a)
Total Beverages									345,557,226
Food & Staples Retailing - 0.3%
Costco Wholesale Corp., Senior Notes		1.375	%		6/20/27		24,175,000		24,816,972
Costco Wholesale Corp., Senior Notes		1.600	%		4/20/30		13,630,000		13,893,960
CVS Pass-Through Trust, Secured Trust		5.880	%		1/10/28		2,941,827		3,311,073
CVS Pass-Through Trust, Secured Trust		6.943	%		1/10/30		1,965,521		2,345,665
CVS Pass-Through Trust, Senior Secured Trust		5.298	%		1/11/27		233,587		250,784	(a)
CVS Pass-Through Trust, Senior Secured Trust		6.036	%		12/10/28		8,053,742		9,160,775
Walmart Inc., Senior Notes		3.400	%		6/26/23		5,060,000		5,470,897
Walmart Inc., Senior Notes		3.550	%		6/26/25		4,320,000		4,897,594
Walmart Inc., Senior Notes		3.700	%		6/26/28		25,130,000		29,754,908
Total Food & Staples Retailing									93,902,628
Food Products - 0.5%
Danone SA, Senior Notes		2.077	%		11/2/21		15,860,000		16,109,350	(a)
Danone SA, Senior Notes		2.589	%		11/2/23		20,650,000		21,802,692	(a)
Danone SA, Senior Notes		2.947	%		11/2/26		6,540,000		7,262,409	(a)
Hershey Co., Senior Notes		0.900	%		6/1/25		4,030,000		4,055,443
Kraft Heinz Foods Co., Senior Notes		3.950	%		7/15/25		5,262,000		5,715,483
Kraft Heinz Foods Co., Senior Notes		3.000	%		6/1/26		4,593,000		4,725,290

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         11

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Food Products - (continued)
Kraft Heinz Foods Co., Senior Notes		4.250	%		3/1/31		3,350,000	$	3,684,649	(a)
Kraft Heinz Foods Co., Senior Notes		6.750	%		3/15/32		410,000		542,709
Kraft Heinz Foods Co., Senior Notes		5.000	%		7/15/35		1,661,000		1,916,654
Kraft Heinz Foods Co., Senior Notes		6.875	%		1/26/39		1,150,000		1,543,933
Kraft Heinz Foods Co., Senior Notes		7.125	%		8/1/39		290,000		392,034	(a)
Kraft Heinz Foods Co., Senior Notes		4.625	%		10/1/39		290,000		308,846	(a)
Kraft Heinz Foods Co., Senior Notes		5.000	%		6/4/42		4,160,000		4,561,899
Kraft Heinz Foods Co., Senior Notes		5.200	%		7/15/45		10,420,000		11,423,906
Kraft Heinz Foods Co., Senior Notes		4.375	%		6/1/46		5,420,000		5,585,754
Kraft Heinz Foods Co., Senior Notes		4.875	%		10/1/49		8,180,000		8,659,626	(a)
Kraft Heinz Foods Co., Senior Notes		5.500	%		6/1/50		8,460,000		9,733,103	(a)
Lamb Weston Holdings Inc., Senior Notes		4.625	%		11/1/24		30,000		31,350	(a)
Lamb Weston Holdings Inc., Senior Notes		4.875	%		11/1/26		6,470,000		6,757,106	(a)
Lamb Weston Holdings Inc., Senior Notes		4.875	%		5/15/28		1,870,000		2,023,106	(a)
Mars Inc., Senior Notes		2.700	%		4/1/25		9,380,000		10,133,028	(a)
Mars Inc., Senior Notes		3.200	%		4/1/30		4,880,000		5,587,466	(a)
Mars Inc., Senior Notes		2.375	%		7/16/40		6,740,000		6,755,823	(a)
Mondelez International Holdings Netherlands BV, Senior Notes		2.125	%		9/19/22		7,900,000		8,155,749	(a)
Mondelez International Inc., Senior Notes		2.125	%		4/13/23		4,500,000		4,672,893
Mondelez International Inc., Senior Notes		1.500	%		5/4/25		22,350,000		22,992,798
WM Wrigley Jr. Co., Senior Notes		3.375	%		10/21/20		690,000		691,054	(a)
Total Food Products									175,824,153

See Notes to Schedule of Investments.

    12     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Household Products - 0.1%
Procter & Gamble Co., Senior Notes		2.450	%		3/25/25		6,120,000	$	6,635,094
Procter & Gamble Co., Senior Notes		2.800	%		3/25/27		2,490,000		2,798,850
Procter & Gamble Co., Senior Notes		3.000	%		3/25/30		6,070,000		7,055,628
Procter & Gamble Co., Senior Notes		3.550	%		3/25/40		10,270,000		12,534,483
Procter & Gamble Co., Senior Notes		3.600	%		3/25/50		12,170,000		15,506,972
Spectrum Brands Inc., Senior Notes		5.750	%		7/15/25		6,450,000		6,666,075
Spectrum Brands Inc., Senior Notes		5.000	%		10/1/29		950,000		988,000	(a)
Total Household Products									52,185,102
Tobacco - 0.9%
Altria Group Inc., Senior Notes		4.750	%		5/5/21		11,110,000		11,390,682
Altria Group Inc., Senior Notes		3.490	%		2/14/22		5,980,000		6,220,354
Altria Group Inc., Senior Notes		2.850	%		8/9/22		5,100,000		5,314,054
Altria Group Inc., Senior Notes		3.800	%		2/14/24		6,610,000		7,231,663
Altria Group Inc., Senior Notes		2.350	%		5/6/25		3,770,000		3,989,412
Altria Group Inc., Senior Notes		4.400	%		2/14/26		32,230,000		37,274,819
Altria Group Inc., Senior Notes		4.800	%		2/14/29		39,040,000		46,388,322
Altria Group Inc., Senior Notes		5.800	%		2/14/39		15,190,000		19,485,372
Altria Group Inc., Senior Notes		3.875	%		9/16/46		6,950,000		7,155,673
Altria Group Inc., Senior Notes		5.950	%		2/14/49		22,010,000		29,574,686
Altria Group Inc., Senior Notes		4.450	%		5/6/50		13,000,000		14,539,995
Altria Group Inc., Senior Notes		6.200	%		2/14/59		4,650,000		6,380,406
BAT Capital Corp., Senior Notes		3.557	%		8/15/27		15,851,000		17,139,533
BAT Capital Corp., Senior Notes		4.540	%		8/15/47		43,950,000		47,212,953
Cargill Inc., Senior Notes		1.375	%		7/23/23		13,510,000		13,824,962	(a)
Philip Morris International Inc., Senior Notes		2.900	%		11/15/21		12,470,000		12,819,952
Philip Morris International Inc., Senior Notes		2.500	%		8/22/22		4,200,000		4,365,141
Philip Morris International Inc., Senior Notes		2.500	%		11/2/22		14,810,000		15,424,358
Philip Morris International Inc., Senior Notes		1.125	%		5/1/23		8,220,000		8,351,488

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         13

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Tobacco - (continued)
Philip Morris International Inc., Senior Notes		2.100	%		5/1/30		9,050,000	$	9,328,683
Philip Morris International Inc., Senior Notes		4.500	%		3/20/42		3,085,000		3,805,370
Reynolds American Inc., Senior Notes		5.850	%		8/15/45		7,579,000		9,248,417
Total Tobacco									336,466,295
TOTAL CONSUMER STAPLES									1,003,935,404
ENERGY - 5.0%
Energy Equipment & Services - 0.0%††
Halliburton Co., Senior Notes		3.800	%		11/15/25		818,000		889,820
Halliburton Co., Senior Notes		4.850	%		11/15/35		5,090,000		5,409,563
Halliburton Co., Senior Notes		5.000	%		11/15/45		8,510,000		8,802,710
Total Energy Equipment & Services									15,102,093
Oil, Gas & Consumable Fuels - 5.0%
Apache Corp., Senior Notes		3.250	%		4/15/22		2,526,000		2,497,204
Apache Corp., Senior Notes		4.375	%		10/15/28		7,430,000		6,812,381
Apache Corp., Senior Notes		4.250	%		1/15/30		800,000		722,240
Apache Corp., Senior Notes		6.000	%		1/15/37		1,006,000		963,175
Apache Corp., Senior Notes		5.100	%		9/1/40		12,719,000		11,415,302
Apache Corp., Senior Notes		4.750	%		4/15/43		10,830,000		9,659,006
Apache Corp., Senior Notes		4.250	%		1/15/44		18,548,000		15,812,170
Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes		6.125	%		11/15/22		4,490,000		4,390,210	(a)
BP Capital Markets America Inc., Senior Notes		2.937	%		4/6/23		1,300,000		1,375,690
BP Capital Markets America Inc., Senior Notes		3.216	%		11/28/23		14,330,000		15,413,499
BP Capital Markets America Inc., Senior Notes		3.790	%		2/6/24		2,930,000		3,214,618
BP Capital Markets America Inc., Senior Notes		3.410	%		2/11/26		17,380,000		19,435,388
BP Capital Markets America Inc., Senior Notes		3.119	%		5/4/26		4,790,000		5,292,105
BP Capital Markets America Inc., Senior Notes		3.588	%		4/14/27		7,160,000		8,028,645
BP Capital Markets America Inc., Senior Notes		3.633	%		4/6/30		9,240,000		10,625,153

See Notes to Schedule of Investments.

    14     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
BP Capital Markets America Inc., Senior Notes		1.749	%		8/10/30		5,000,000	$	4,972,782
BP Capital Markets America Inc., Senior Notes		3.000	%		2/24/50		36,530,000		35,333,019
BP Capital Markets America Inc., Senior Notes		2.772	%		11/10/50		3,000,000		2,782,175
BP Capital Markets PLC, Senior Notes		3.561	%		11/1/21		510,000		527,941
BP Capital Markets PLC, Senior Notes		3.245	%		5/6/22		1,650,000		1,721,890
BP Capital Markets PLC, Senior Notes		3.535	%		11/4/24		2,390,000		2,640,812
BP Capital Markets PLC, Senior Notes		3.506	%		3/17/25		21,110,000		23,526,580
Cameron LNG LLC, Senior Secured Notes		2.902	%		7/15/31		9,050,000		9,969,125	(a)
Cameron LNG LLC, Senior Secured Notes		3.302	%		1/15/35		22,494,000		25,451,114	(a)
Cheniere Energy Inc., Senior Secured Notes		4.625	%		10/15/28		8,500,000		8,739,062	(a)
Chevron Corp., Senior Notes		1.554	%		5/11/25		15,860,000		16,452,931
Chevron Corp., Senior Notes		2.954	%		5/16/26		4,000		4,463
Chevron Corp., Senior Notes		1.995	%		5/11/27		5,740,000		6,080,522
Chevron Corp., Senior Notes		2.236	%		5/11/30		2,360,000		2,509,632
Chevron Corp., Senior Notes		2.978	%		5/11/40		1,870,000		2,026,256
Chevron Corp., Senior Notes		3.078	%		5/11/50		7,800,000		8,379,187
Cimarex Energy Co., Senior Notes		3.900	%		5/15/27		26,499,000		26,728,813
Cimarex Energy Co., Senior Notes		4.375	%		3/15/29		21,819,000		22,606,407
CNOOC Finance 2015 USA LLC, Senior Notes		3.500	%		5/5/25		35,600,000		39,159,466
Concho Resources Inc., Senior Notes		3.750	%		10/1/27		14,799,000		15,995,233
Concho Resources Inc., Senior Notes		4.300	%		8/15/28		16,008,000		17,717,313
Conoco Funding Co., Senior Notes		7.250	%		10/15/31		810,000		1,210,242
ConocoPhillips, Senior Notes		5.900	%		10/15/32		10,000		13,687
ConocoPhillips, Senior Notes		6.500	%		2/1/39		40,000		58,657

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         15

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
ConocoPhillips Co., Senior Notes		6.950	%		4/15/29		693,000	$	962,949
Continental Resources Inc., Senior Notes		4.500	%		4/15/23		6,430,000		6,139,557
Continental Resources Inc., Senior Notes		3.800	%		6/1/24		3,424,000		3,167,200
Continental Resources Inc., Senior Notes		4.375	%		1/15/28		18,789,000		16,309,604
Continental Resources Inc., Senior Notes		4.900	%		6/1/44		2,570,000		1,941,211
Devon Energy Corp., Senior Notes		5.850	%		12/15/25		12,076,000		13,542,347
Devon Energy Corp., Senior Notes		5.600	%		7/15/41		9,920,000		10,047,939
Devon Energy Corp., Senior Notes		4.750	%		5/15/42		3,537,000		3,295,390
Devon Energy Corp., Senior Notes		5.000	%		6/15/45		38,990,000		37,110,763
Diamondback Energy Inc., Senior Notes		5.375	%		5/31/25		8,210,000		8,526,743
Diamondback Energy Inc., Senior Notes		3.250	%		12/1/26		430,000		432,001
Diamondback Energy Inc., Senior Notes		3.500	%		12/1/29		7,622,000		7,409,014
Ecopetrol SA, Senior Notes		5.875	%		5/28/45		31,380,000		34,243,425
Energy Transfer Operating LP, Junior Subordinated Notes (6.750% to 5/15/25 then 5 year Treasury Constant Maturity Rate + 5.134%)		6.750	%		5/15/25		10,138,000		7,831,605	(c)(d)
Energy Transfer Operating LP, Senior Notes		2.900	%		5/15/25		11,430,000		11,508,769
Energy Transfer Operating LP, Senior Notes		4.950	%		6/15/28		4,888,000		5,182,654
Energy Transfer Operating LP, Senior Notes		5.250	%		4/15/29		4,100,000		4,407,729
Energy Transfer Operating LP, Senior Notes		3.750	%		5/15/30		39,330,000		38,182,612
Energy Transfer Operating LP, Senior Notes		6.250	%		4/15/49		3,890,000		4,031,176

See Notes to Schedule of Investments.

    16     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Energy Transfer Partners LP/Regency Energy Finance Corp., Senior Notes		5.875	%		3/1/22		5,781,000	$	6,041,485
Energy Transfer Partners LP/Regency Energy Finance Corp., Senior Notes		4.500	%		11/1/23		510,000		543,278
Enterprise Products Operating LLC, Senior Notes		4.150	%		10/16/28		26,093,000		30,562,984
Enterprise Products Operating LLC, Senior Notes		3.125	%		7/31/29		8,650,000		9,453,343
Enterprise Products Operating LLC, Senior Notes		2.800	%		1/31/30		32,967,000		35,176,660
Enterprise Products Operating LLC, Senior Notes		7.550	%		4/15/38		1,030,000		1,446,292
Enterprise Products Operating LLC, Senior Notes		4.850	%		3/15/44		970,000		1,106,432
Enterprise Products Operating LLC, Senior Notes		4.800	%		2/1/49		1,680,000		1,946,873
Enterprise Products Operating LLC, Senior Notes		4.200	%		1/31/50		3,370,000		3,595,050
Enterprise Products Operating LLC, Senior Notes		3.700	%		1/31/51		18,477,000		18,319,622
Enterprise Products Operating LLC, Senior Notes		3.950	%		1/31/60		6,940,000		6,895,859
EOG Resources Inc., Senior Notes		4.150	%		1/15/26		6,442,000		7,382,600
EOG Resources Inc., Senior Notes		4.375	%		4/15/30		3,690,000		4,358,044
EOG Resources Inc., Senior Notes		3.900	%		4/1/35		12,960,000		14,552,795
EOG Resources Inc., Senior Notes		4.950	%		4/15/50		19,990,000		24,685,862
EQT Corp., Senior Notes		3.000	%		10/1/22		13,239,000		12,957,671
EQT Corp., Senior Notes		7.875	%		2/1/25		1,230,000		1,365,109
EQT Corp., Senior Notes		3.900	%		10/1/27		900,000		830,250
Exxon Mobil Corp., Senior Notes		1.571	%		4/15/23		2,460,000		2,532,490
Exxon Mobil Corp., Senior Notes		2.992	%		3/19/25		37,170,000		40,792,004
Exxon Mobil Corp., Senior Notes		3.043	%		3/1/26		11,540,000		12,750,951

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         17

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Exxon Mobil Corp., Senior Notes		3.482	%		3/19/30		13,120,000	$	15,164,973
Exxon Mobil Corp., Senior Notes		4.227	%		3/19/40		3,000,000		3,685,684
Exxon Mobil Corp., Senior Notes		4.114	%		3/1/46		22,720,000		27,041,440
Exxon Mobil Corp., Senior Notes		4.327	%		3/19/50		4,800,000		6,040,765
Exxon Mobil Corp., Senior Notes		3.452	%		4/15/51		6,000,000		6,630,645
KazMunayGas National Co. JSC, Senior Notes		5.375	%		4/24/30		4,050,000		4,746,608	(a)
KazMunayGas National Co. JSC, Senior Notes		6.375	%		10/24/48		7,310,000		9,356,800	(a)
Kinder Morgan Energy Partners LP, Senior Notes		3.500	%		3/1/21		4,510,000		4,542,519
Kinder Morgan Energy Partners LP, Senior Notes		7.300	%		8/15/33		1,497,000		2,041,728
Kinder Morgan Energy Partners LP, Senior Notes		6.550	%		9/15/40		1,450,000		1,829,724
Kinder Morgan Energy Partners LP, Senior Notes		6.375	%		3/1/41		1,720,000		2,112,009
Kinder Morgan Energy Partners LP, Senior Notes		5.500	%		3/1/44		1,260,000		1,491,108
Kinder Morgan Energy Partners LP, Senior Notes		5.400	%		9/1/44		680,000		790,234
Kinder Morgan Inc., Senior Notes		4.300	%		6/1/25		2,820,000		3,178,224
Kinder Morgan Inc., Senior Notes		7.800	%		8/1/31		3,276,000		4,538,662
Kinder Morgan Inc., Senior Notes		5.550	%		6/1/45		7,860,000		9,357,067
Kinder Morgan Inc., Senior Notes		5.050	%		2/15/46		4,650,000		5,299,411
Kinder Morgan Inc., Senior Notes		5.200	%		3/1/48		8,770,000		10,308,313
MPLX LP, Senior Notes		4.875	%		12/1/24		9,800,000		10,954,342
MPLX LP, Senior Notes		4.875	%		6/1/25		7,870,000		8,920,130
MPLX LP, Senior Notes		4.800	%		2/15/29		8,850,000		10,138,727
MPLX LP, Senior Notes		4.500	%		4/15/38		11,800,000		12,108,979
MPLX LP, Senior Notes		4.700	%		4/15/48		11,880,000		12,094,030

See Notes to Schedule of Investments.

    18     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
MPLX LP, Senior Notes		5.500	%		2/15/49		9,296,000	$	10,471,869
Noble Energy Inc., Senior Notes		3.850	%		1/15/28		19,795,000		22,493,002
Noble Energy Inc., Senior Notes		5.250	%		11/15/43		6,205,000		8,238,465
Noble Energy Inc., Senior Notes		5.050	%		11/15/44		1,741,000		2,262,654
Noble Energy Inc., Senior Notes		4.950	%		8/15/47		2,370,000		3,122,743
Occidental Petroleum Corp., Senior Notes		3.125	%		2/15/22		5,230,000		4,962,538
Occidental Petroleum Corp., Senior Notes		2.700	%		8/15/22		13,090,000		12,254,793
Occidental Petroleum Corp., Senior Notes		6.950	%		7/1/24		3,107,000		3,014,722
Occidental Petroleum Corp., Senior Notes		2.900	%		8/15/24		21,930,000		18,647,079
Occidental Petroleum Corp., Senior Notes		5.550	%		3/15/26		1,180,000		1,070,649
Occidental Petroleum Corp., Senior Notes		3.400	%		4/15/26		9,455,000		7,564,000
Occidental Petroleum Corp., Senior Notes		3.200	%		8/15/26		19,417,000		15,436,515
Occidental Petroleum Corp., Senior Notes		3.000	%		2/15/27		6,400,000		5,031,168
Occidental Petroleum Corp., Senior Notes		3.500	%		8/15/29		60,000		46,068
Occidental Petroleum Corp., Senior Notes		6.625	%		9/1/30		17,260,000		15,954,712
Occidental Petroleum Corp., Senior Notes		7.500	%		5/1/31		14,340,000		13,658,850
Occidental Petroleum Corp., Senior Notes		7.875	%		9/15/31		4,792,000		4,669,205
Occidental Petroleum Corp., Senior Notes		6.450	%		9/15/36		23,185,000		19,808,684
Occidental Petroleum Corp., Senior Notes		4.500	%		7/15/44		6,250,000		4,500,000
Occidental Petroleum Corp., Senior Notes		4.625	%		6/15/45		16,480,000		11,948,000
Occidental Petroleum Corp., Senior Notes		6.600	%		3/15/46		27,550,000		23,779,094
Occidental Petroleum Corp., Senior Notes		4.400	%		4/15/46		11,470,000		8,165,665
Occidental Petroleum Corp., Senior Notes		4.100	%		2/15/47		27,855,000		18,871,762

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         19

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Occidental Petroleum Corp., Senior Notes		4.200	%		3/15/48		20,750,000	$	14,291,562
Parsley Energy LLC/Parsley Finance Corp., Senior Notes		5.375	%		1/15/25		1,200,000		1,200,000	(a)
Parsley Energy LLC/Parsley Finance Corp., Senior Notes		4.125	%		2/15/28		2,070,000		1,950,768	(a)
Petrobras Global Finance BV, Senior Notes		6.250	%		3/17/24		14,259,000		15,831,482
Petrobras Global Finance BV, Senior Notes		5.299	%		1/27/25		92,550,000		101,180,287
Petrobras Global Finance BV, Senior Notes		7.375	%		1/17/27		7,710,000		9,140,976
Petrobras Global Finance BV, Senior Notes		5.750	%		2/1/29		16,560,000		18,294,660
Petrobras Global Finance BV, Senior Notes		7.250	%		3/17/44		23,200,000		26,479,900
Petroleos Mexicanos, Senior Notes		6.875	%		8/4/26		4,350,000		4,192,291
Petroleos Mexicanos, Senior Notes		6.625	%		6/15/35		14,490,000		12,055,680
Petroleos Mexicanos, Senior Notes		5.500	%		6/27/44		3,860,000		2,868,771
Petroleos Mexicanos, Senior Notes		6.375	%		1/23/45		14,210,000		10,913,067
Range Resources Corp., Senior Notes		5.875	%		7/1/22		542,000		527,645
Range Resources Corp., Senior Notes		5.000	%		3/15/23		7,197,000		6,850,644
Range Resources Corp., Senior Notes		4.875	%		5/15/25		5,160,000		4,670,316
Sabine Pass Liquefaction LLC, Senior Secured Notes		5.750	%		5/15/24		2,870,000		3,252,734
Schlumberger Holdings Corp., Senior Notes		3.900	%		5/17/28		5,110,000		5,509,440	(a)
Shell International Finance BV, Senior Notes		2.875	%		5/10/26		5,450,000		6,043,329
Shell International Finance BV, Senior Notes		2.750	%		4/6/30		14,090,000		15,445,344
Shell International Finance BV, Senior Notes		6.375	%		12/15/38		4,655,000		6,938,146

See Notes to Schedule of Investments.

    20     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Shell International Finance BV, Senior Notes		4.550	%		8/12/43		6,360,000	$	7,970,778
Shell International Finance BV, Senior Notes		4.375	%		5/11/45		13,770,000		16,941,547
Shell International Finance BV, Senior Notes		4.000	%		5/10/46		8,940,000		10,466,847
Shell International Finance BV, Senior Notes		3.750	%		9/12/46		690,000		772,485
Shell International Finance BV, Senior Notes		3.250	%		4/6/50		27,710,000		29,649,596
Sinopec Group Overseas Development 2014 Ltd., Senior Notes		4.375	%		4/10/24		17,660,000		19,523,049	(a)
Southern Natural Gas Co. LLC, Senior Notes		8.000	%		3/1/32		9,413,000		13,384,302
Sunoco Logistics Partners Operations LP, Senior Notes		5.300	%		4/1/44		1,170,000		1,092,198
Targa Resources Partners LP/ Targa Resources Partners Finance Corp., Senior Notes		4.250	%		11/15/23		3,510,000		3,484,044
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		5.875	%		4/15/26		1,845,000		1,897,721
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		5.375	%		2/1/27		1,300,000		1,310,315
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		6.500	%		7/15/27		4,230,000		4,420,350
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		6.875	%		1/15/29		2,120,000		2,274,389
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		4.875	%		2/1/31		7,310,000		7,092,893	(a)
Tennessee Gas Pipeline Co. LLC, Senior Notes		2.900	%		3/1/30		18,290,000		19,001,533	(a)
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		7.850	%		2/1/26		34,600,000		44,845,660
Western Midstream Operating LP, Senior Notes		4.100	%		2/1/25		9,840,000		9,388,246

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         21

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Western Midstream Operating LP, Senior Notes		4.500	%		3/1/28		2,363,000	$	2,233,035
Western Midstream Operating LP, Senior Notes		5.050	%		2/1/30		42,085,000		41,016,041
Western Midstream Operating LP, Senior Notes		5.500	%		8/15/48		1,170,000		971,100
Western Midstream Operating LP, Senior Notes		6.250	%		2/1/50		6,340,000		5,883,774
Western Midstream Operating LP, Senior Notes (3 mo. USD LIBOR + 1.850%)		2.116	%		1/13/23		3,870,000		3,600,304	(d)
Williams Cos. Inc., Senior Notes		7.875	%		9/1/21		7,903,000		8,426,895
Williams Cos. Inc., Senior Notes		3.700	%		1/15/23		3,960,000		4,187,957
Williams Cos. Inc., Senior Notes		4.550	%		6/24/24		1,790,000		1,984,607
Williams Cos. Inc., Senior Notes		3.750	%		6/15/27		5,450,000		5,984,029
Williams Cos. Inc., Senior Notes		7.500	%		1/15/31		4,249,000		5,603,455
Williams Cos. Inc., Senior Notes		7.750	%		6/15/31		6,418,000		8,458,577
Williams Cos. Inc., Senior Notes		8.750	%		3/15/32		3,035,000		4,331,274
Williams Cos. Inc., Senior Notes		5.750	%		6/24/44		900,000		1,064,500
Williams Cos. Inc., Senior Notes		4.850	%		3/1/48		8,529,000		9,570,790
WPX Energy Inc., Senior Notes		6.000	%		1/15/22		270,000		279,049
WPX Energy Inc., Senior Notes		8.250	%		8/1/23		1,440,000		1,632,449
WPX Energy Inc., Senior Notes		5.250	%		10/15/27		1,920,000		1,952,045
WPX Energy Inc., Senior Notes		5.875	%		6/15/28		1,728,000		1,807,955
Total Oil, Gas & Consumable Fuels									1,820,317,627
TOTAL ENERGY									1,835,419,720
FINANCIALS - 11.7%
Banks - 8.8%
ABN AMRO Bank NV, Subordinated Notes		4.750	%		7/28/25		8,210,000		9,270,117	(a)
BAC Capital Trust XIV, Junior Subordinated Notes (the greater of 3 mo. USD LIBOR + 0.400% or 4.000%)		4.000	%		10/16/20		14,210,000		14,073,134	(c)(d)
Banco Santander SA, Senior Notes		3.848	%		4/12/23		8,600,000		9,188,146
Banco Santander SA, Senior Notes		2.746	%		5/28/25		43,500,000		45,699,374
Banco Santander SA, Senior Notes		4.379	%		4/12/28		16,000,000		18,169,357

See Notes to Schedule of Investments.

    22     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Banco Santander SA, Senior Notes (3 mo. USD LIBOR + 1.120%)		1.386	%		4/12/23		6,200,000	$	6,230,084	(d)
Bank of America Corp., Junior Subordinated Notes (6.100% to 3/17/25 then 3 mo. USD LIBOR + 3.898%)		6.100	%		3/17/25		910,000		991,268	(c)(d)
Bank of America Corp., Senior Notes		3.300	%		1/11/23		28,960,000		30,757,669
Bank of America Corp., Senior Notes		4.125	%		1/22/24		230,000		254,946
Bank of America Corp., Senior Notes		4.000	%		4/1/24		13,890,000		15,406,047
Bank of America Corp., Senior Notes		3.500	%		4/19/26		16,160,000		18,129,440
Bank of America Corp., Senior Notes		5.000	%		1/21/44		33,160,000		45,859,132
Bank of America Corp., Senior Notes (1.319% to 6/19/25 then SOFR + 1.150%)		1.319	%		6/19/26		33,540,000		33,846,726	(d)
Bank of America Corp., Senior Notes (1.898% to 7/23/30 then SOFR + 1.530%)		1.898	%		7/23/31		7,000,000		6,979,784	(d)
Bank of America Corp., Senior Notes (2.592% to 4/29/30 then SOFR + 2.150%)		2.592	%		4/29/31		24,180,000		25,791,311	(d)
Bank of America Corp., Senior Notes (3.004% to 12/20/22 then 3 mo. USD LIBOR + 0.790%)		3.004	%		12/20/23		39,972,000		41,989,561	(d)
Bank of America Corp., Senior Notes (3.419% to 12/20/27 then 3 mo. USD LIBOR + 1.040%)		3.419	%		12/20/28		27,181,000		30,285,395	(d)
Bank of America Corp., Senior Notes (3.550% to 3/5/23 then 3 mo. USD LIBOR + 0.780%)		3.550	%		3/5/24		20,980,000		22,355,933	(d)
Bank of America Corp., Senior Notes (3.593% to 7/21/27 then 3 mo. USD LIBOR + 1.370%)		3.593	%		7/21/28		7,230,000		8,124,665	(d)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         23

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Bank of America Corp., Senior Notes (3.970% to 3/5/28 then 3 mo. USD LIBOR + 1.070%)		3.970	%		3/5/29		85,750,000	$	98,515,083	(d)
Bank of America Corp., Senior Notes (3.974% to 2/7/29 then 3 mo. USD LIBOR + 1.210%)		3.974	%		2/7/30		8,130,000		9,434,605	(d)
Bank of America Corp., Senior Notes (4.083% to 3/20/50 then 3 mo. USD LIBOR + 3.150%)		4.083	%		3/20/51		52,790,000		65,734,706	(d)
Bank of America Corp., Senior Notes (4.330% to 3/15/49 then 3 mo. USD LIBOR + 1.520%)		4.330	%		3/15/50		7,370,000		9,403,287	(d)
Bank of America Corp., Subordinated Notes		4.200	%		8/26/24		14,080,000		15,694,280
Bank of America Corp., Subordinated Notes		4.000	%		1/22/25		4,300,000		4,793,070
Bank of America Corp., Subordinated Notes		4.450	%		3/3/26		3,050,000		3,520,277
Bank of America Corp., Subordinated Notes		4.250	%		10/22/26		14,500,000		16,812,714
Bank of Montreal, Senior Notes		1.850	%		5/1/25		26,710,000		27,928,478
Bank of Montreal, Subordinated Notes (3.803% to 12/15/27 then USD 5 year ICE Swap Rate + 1.432%)		3.803	%		12/15/32		3,780,000		4,216,217	(d)
Bank of Nova Scotia, Senior Notes		1.300	%		6/11/25		14,860,000		15,163,277
Barclays Bank PLC, Senior Notes		1.700	%		5/12/22		11,260,000		11,458,672
Barclays PLC, Senior Notes (4.972% to 5/16/28 then 3 mo. USD LIBOR + 1.902%)		4.972	%		5/16/29		10,900,000		12,763,064	(d)
Barclays PLC, Subordinated Notes (5.088% to 6/20/29 then 3 mo. USD LIBOR + 3.054%)		5.088	%		6/20/30		65,350,000		73,254,839	(d)
BNP Paribas SA, Senior Notes		3.375	%		1/9/25		6,895,000		7,487,793	(a)
BNP Paribas SA, Senior Notes		4.400	%		8/14/28		46,530,000		54,644,101	(a)
BNP Paribas SA, Senior Notes (2.219% to 6/9/25 then SOFR + 2.074%)		2.219	%		6/9/26		17,970,000		18,559,350	(a)(d)

See Notes to Schedule of Investments.

    24     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
BNP Paribas SA, Senior Notes (4.705% to 1/10/24 then 3 mo. USD LIBOR + 2.235%)		4.705	%		1/10/25		51,040,000	$	56,558,807	(a)(d)
BNP Paribas SA, Senior Notes (5.198% to 1/10/29 then 3 mo. USD LIBOR + 2.567%)		5.198	%		1/10/30		13,810,000		17,048,384	(a)(d)
BNP Paribas SA, Subordinated Notes		4.625	%		3/13/27		9,790,000		11,150,429	(a)
BNP Paribas SA, Subordinated Notes (4.375% to 3/1/28 then USD 5 year ICE Swap Rate + 1.483%)		4.375	%		3/1/33		6,530,000		7,279,511	(a)(d)
BPCE SA, Subordinated Notes		5.150	%		7/21/24		3,300,000		3,701,244	(a)
Canadian Imperial Bank of Commerce, Senior Notes		0.950	%		6/23/23		15,070,000		15,211,613
CIT Group Inc., Senior Notes		4.750	%		2/16/24		7,040,000		7,257,782
CIT Group Inc., Senior Notes		5.250	%		3/7/25		5,730,000		6,073,084
Citigroup Inc., Junior Subordinated Notes (5.950% to 1/30/23 then 3 mo. USD LIBOR + 4.068%)		5.950	%		1/30/23		6,050,000		6,231,862	(c)(d)
Citigroup Inc., Junior Subordinated Notes (5.950% to 5/15/25 then 3 mo. USD LIBOR + 3.905%)		5.950	%		5/15/25		26,100,000		27,392,853	(c)(d)
Citigroup Inc., Junior Subordinated Notes (6.300% to 5/15/24 then 3 mo. USD LIBOR + 3.423%)		6.300	%		5/15/24		3,700,000		3,878,322	(c)(d)
Citigroup Inc., Senior Notes		8.125	%		7/15/39		2,195,000		3,825,149
Citigroup Inc., Senior Notes		4.650	%		7/30/45		24,812,000		32,544,192
Citigroup Inc., Senior Notes		4.650	%		7/23/48		3,000,000		3,970,018
Citigroup Inc., Senior Notes (1.678% to 5/15/23 then SOFR + 1.667%)		1.678	%		5/15/24		15,430,000		15,820,986	(d)
Citigroup Inc., Senior Notes (2.572% to 6/3/30 then SOFR + 2.107%)		2.572	%		6/3/31		35,480,000		37,265,257	(d)
Citigroup Inc., Senior Notes (2.666% to 1/29/30 then SOFR + 1.146%)		2.666	%		1/29/31		20,000,000		21,093,478	(d)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         25

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Citigroup Inc., Senior Notes (3.106% to 4/8/25 then SOFR + 2.750%)		3.106	%		4/8/26		10,730,000	$	11,638,096	(d)
Citigroup Inc., Senior Notes (3.520% to 10/27/27 then 3 mo. USD LIBOR + 1.151%)		3.520	%		10/27/28		65,050,000		72,588,346	(d)
Citigroup Inc., Senior Notes (3.980% to 3/20/29 then 3 mo. USD LIBOR + 1.338%)		3.980	%		3/20/30		7,640,000		8,807,705	(d)
Citigroup Inc., Senior Notes (4.075% to 4/23/28 then 3 mo. USD LIBOR + 1.192%)		4.075	%		4/23/29		16,280,000		18,854,705	(d)
Citigroup Inc., Senior Notes (4.412% to 3/31/30 then SOFR + 3.914%)		4.412	%		3/31/31		18,680,000		22,436,728	(d)
Citigroup Inc., Subordinated Notes		4.050	%		7/30/22		704,000		747,875
Citigroup Inc., Subordinated Notes		4.400	%		6/10/25		19,090,000		21,562,480
Citigroup Inc., Subordinated Notes		5.500	%		9/13/25		25,260,000		29,975,037
Citigroup Inc., Subordinated Notes		4.300	%		11/20/26		11,500,000		13,197,102
Citigroup Inc., Subordinated Notes		4.450	%		9/29/27		36,920,000		42,864,486
Citigroup Inc., Subordinated Notes		6.625	%		6/15/32		1,660,000		2,321,275
Citigroup Inc., Subordinated Notes		6.125	%		8/25/36		133,000		178,915
Citigroup Inc., Subordinated Notes		6.675	%		9/13/43		2,824,000		4,347,305
Citigroup Inc., Subordinated Notes		5.300	%		5/6/44		1,789,000		2,389,123
Citigroup Inc., Subordinated Notes		4.750	%		5/18/46		2,080,000		2,614,543
Cooperatieve Rabobank UA, Senior Notes		4.625	%		12/1/23		24,060,000		26,751,937
Cooperatieve Rabobank UA, Senior Notes		4.375	%		8/4/25		32,450,000		36,802,811
Cooperatieve Rabobank UA, Senior Notes		5.250	%		8/4/45		8,420,000		11,499,573

See Notes to Schedule of Investments.

    26     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Cooperatieve Rabobank UA, Senior Notes (1.339% to 6/24/25 then 1 year Treasury Constant Maturity Rate + 1.000%)		1.339	%		6/24/26		33,050,000	$	33,524,015	(a)(d)
Credit Agricole SA, Senior Notes (1.907% to 6/16/25 then SOFR + 1.676%)		1.907	%		6/16/26		11,750,000		12,021,982	(a)(d)
Credit Agricole SA, Subordinated Notes (4.000% to 1/10/28 then USD 5 year ICE Swap Rate + 1.644%)		4.000	%		1/10/33		10,180,000		11,179,967	(a)(d)
Danske Bank A/S, Senior Notes		5.000	%		1/12/22		31,300,000		32,894,499	(a)
Danske Bank A/S, Senior Notes		3.875	%		9/12/23		3,510,000		3,781,728	(a)
Danske Bank A/S, Senior Notes		5.375	%		1/12/24		18,650,000		21,006,347	(a)
Danske Bank A/S, Senior Notes		1.226	%		6/22/24		18,620,000		18,802,148	(a)
Danske Bank A/S, Senior Notes (3.001% to 9/20/21 then 3 mo. USD LIBOR + 1.249%)		3.001	%		9/20/22		11,830,000		12,059,139	(a)(d)
Danske Bank A/S, Senior Notes (3.244% to 12/20/24 then 3 mo. USD LIBOR + 1.591%)		3.244	%		12/20/25		5,370,000		5,708,195	(a)(d)
HSBC Holdings PLC, Junior Subordinated Notes (6.250% to 3/23/23 then USD 5 year ICE Swap Rate + 3.453%)		6.250	%		3/23/23		11,830,000		11,909,734	(c)(d)
HSBC Holdings PLC, Junior Subordinated Notes (6.500% to 3/23/28 then USD 5 year ICE Swap Rate + 3.606%)		6.500	%		3/23/28		20,660,000		21,955,072	(c)(d)
HSBC Holdings PLC, Senior Notes		4.300	%		3/8/26		1,750,000		1,974,231
HSBC Holdings PLC, Senior Notes		3.900	%		5/25/26		13,485,000		14,942,750
HSBC Holdings PLC, Senior Notes		4.950	%		3/31/30		4,570,000		5,516,385
HSBC Holdings PLC, Senior Notes (2.099% to 6/4/25 then SOFR + 1.929%)		2.099	%		6/4/26		30,080,000		30,487,101	(d)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         27

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
HSBC Holdings PLC, Senior Notes (2.848% to 6/4/30 then SOFR + 2.387%)		2.848	%		6/4/31		26,490,000	$	27,497,355	(d)
HSBC Holdings PLC, Senior Notes (3.973% to 5/22/29 then 3 mo. USD LIBOR + 1.610%)		3.973	%		5/22/30		28,460,000		31,821,677	(d)
HSBC Holdings PLC, Senior Notes (4.583% to 6/19/28 then 3 mo. USD LIBOR + 1.535%)		4.583	%		6/19/29		47,560,000		54,943,942	(d)
HSBC Holdings PLC, Subordinated Notes		4.250	%		3/14/24		4,910,000		5,267,852
HSBC Holdings PLC, Subordinated Notes		4.250	%		8/18/25		17,750,000		19,311,560
Intesa Sanpaolo SpA, Senior Notes		3.125	%		7/14/22		13,100,000		13,479,022	(a)
Intesa Sanpaolo SpA, Senior Notes		3.375	%		1/12/23		17,880,000		18,581,217	(a)
Intesa Sanpaolo SpA, Subordinated Notes		5.017	%		6/26/24		39,180,000		41,210,571	(a)
Intesa Sanpaolo SpA, Subordinated Notes		5.710	%		1/15/26		10,920,000		11,919,388	(a)
JPMorgan Chase & Co., Senior Notes		3.625	%		5/13/24		20,000		22,095
JPMorgan Chase & Co., Senior Notes (1.514% to 6/1/23 then SOFR + 1.455%)		1.514	%		6/1/24		41,130,000		41,994,164	(d)
JPMorgan Chase & Co., Senior Notes (2.083% to 4/22/25 then SOFR + 1.850%)		2.083	%		4/22/26		24,800,000		25,974,881	(d)
JPMorgan Chase & Co., Senior Notes (2.522% to 4/22/30 then SOFR + 2.040%)		2.522	%		4/22/31		13,760,000		14,679,095	(d)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/50 then SOFR + 2.440%)		3.109	%		4/22/51		16,560,000		17,876,101	(d)
JPMorgan Chase & Co., Senior Notes (3.509% to 1/23/28 then 3 mo. USD LIBOR + 0.945%)		3.509	%		1/23/29		29,830,000		33,607,811	(d)
JPMorgan Chase & Co., Senior Notes (4.023% to 12/5/23 then 3 mo. USD LIBOR + 1.000%)		4.023	%		12/5/24		35,640,000		39,138,193	(d)

See Notes to Schedule of Investments.

    28     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
JPMorgan Chase & Co., Senior Notes (4.203% to 7/23/28 then 3 mo. USD LIBOR + 1.260%)		4.203	%		7/23/29		18,900,000	$	22,408,320	(d)
JPMorgan Chase & Co., Senior Notes (4.452% to 12/5/28 then 3 mo. USD LIBOR + 1.330%)		4.452	%		12/5/29		7,130,000		8,584,387	(d)
JPMorgan Chase & Co., Senior Notes (4.493% to 3/24/30 then SOFR + 3.790%)		4.493	%		3/24/31		15,000,000		18,348,750	(d)
JPMorgan Chase & Co., Senior Notes 3.109% to 4/22/40 then SOFR + 2.460%)		3.109	%		4/22/41		10,000,000		10,895,784	(d)
JPMorgan Chase & Co., Subordinated Notes		3.875	%		9/10/24		3,195,000		3,547,118
JPMorgan Chase & Co., Subordinated Notes		4.125	%		12/15/26		14,330,000		16,673,415
JPMorgan Chase & Co., Subordinated Notes		4.250	%		10/1/27		4,050,000		4,723,563
JPMorgan Chase & Co., Subordinated Notes		4.950	%		6/1/45		20,670,000		28,055,796
Lloyds Banking Group PLC, Junior Subordinated Notes (7.500% to 9/27/25 then USD 5 year ICE Swap Rate + 4.496%)		7.500	%		9/27/25		1,000,000		1,065,444	(c)(d)
Lloyds Banking Group PLC, Senior Notes		3.900	%		3/12/24		10,560,000		11,486,701
Lloyds Banking Group PLC, Senior Notes		4.375	%		3/22/28		14,100,000		16,368,806
Lloyds Banking Group PLC, Senior Notes		4.550	%		8/16/28		200,000		236,078
Lloyds Banking Group PLC, Senior Notes (3.574% to 11/7/27 then 3 mo. USD LIBOR + 1.205%)		3.574	%		11/7/28		2,261,000		2,478,675	(d)
Lloyds Banking Group PLC, Subordinated Notes		4.500	%		11/4/24		15,350,000		16,760,624
Mitsubishi UFJ Financial Group Inc., Senior Notes		2.998	%		2/22/22		7,240,000		7,483,503
Natwest Group PLC, Senior Notes (4.269% to 3/22/24 then 3 mo. USD LIBOR + 1.762%)		4.269	%		3/22/25		10,710,000		11,639,546	(d)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         29

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Natwest Group PLC, Senior Notes (4.519% to 6/25/23 then 3 mo. USD LIBOR + 1.550%)		4.519	%		6/25/24		10,000,000	$	10,786,627	(d)
Natwest Group PLC, Senior Notes (4.892% to 5/18/28 then 3 mo. USD LIBOR + 1.754%)		4.892	%		5/18/29		5,450,000		6,347,450	(d)
Natwest Group PLC, Senior Notes (5.076% to 1/27/29 then 3 mo. USD LIBOR + 1.905%)		5.076	%		1/27/30		3,000,000		3,579,871	(d)
Natwest Group PLC, Subordinated Notes		6.000	%		12/19/23		15,075,000		16,963,653
Natwest Group PLC, Subordinated Notes		5.125	%		5/28/24		24,180,000		26,543,660
Nordea Bank Abp, Subordinated Notes		4.875	%		5/13/21		14,640,000		15,020,838	(a)
Royal Bank of Canada, Senior Notes		2.150	%		10/26/20		9,960,000		9,973,457
Royal Bank of Canada, Senior Notes		3.200	%		4/30/21		11,940,000		12,143,618
Royal Bank of Canada, Senior Notes		1.600	%		4/17/23		20,990,000		21,554,196
Royal Bank of Canada, Senior Notes		1.150	%		6/10/25		14,190,000		14,404,622
Santander UK Group Holdings PLC, Subordinated Notes		5.625	%		9/15/45		3,560,000		4,363,993	(a)
Santander UK PLC, Subordinated Notes		5.000	%		11/7/23		264,000		288,739	(a)
Standard Chartered PLC, Subordinated Notes		5.700	%		3/26/44		715,000		883,887	(a)
Sumitomo Mitsui Financial Group Inc., Senior Notes		2.058	%		7/14/21		10,680,000		10,827,680
Svenska Handelsbanken AB, Senior Notes		3.350	%		5/24/21		13,040,000		13,303,474
Swedbank AB, Senior Notes		1.300	%		6/2/23		17,500,000		17,847,550	(a)
Toronto-Dominion Bank, Senior Notes		3.250	%		6/11/21		14,710,000		15,015,757
Toronto-Dominion Bank, Senior Notes		0.750	%		6/12/23		27,800,000		27,999,357
Toronto-Dominion Bank, Senior Notes		1.150	%		6/12/25		14,120,000		14,365,650
UniCredit SpA, Senior Notes		6.572	%		1/14/22		30,090,000		31,941,989	(a)

See Notes to Schedule of Investments.

    30     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
UniCredit SpA, Subordinated Notes (7.296% to 4/2/29 then USD 5 year ICE Swap Rate + 4.914%)		7.296	%		4/2/34		1,450,000	$	1,668,501	(a)(d)
US Bancorp, Senior Notes		1.450	%		5/12/25		30,910,000		32,055,462
US Bank NA, Senior Notes		3.150	%		4/26/21		11,950,000		12,118,397
Wachovia Capital Trust III Ltd., Junior Subordinated Bonds (the greater of 3 mo. USD LIBOR + 0.930% or 5.570%)		5.570	%		11/2/20		38,861,000		38,899,084	(c)(d)
Wells Fargo & Co., Junior Subordinated Notes		5.950	%		12/15/36		5,612,000		7,377,156
Wells Fargo & Co., Senior Notes		4.600	%		4/1/21		13,950,000		14,246,968
Wells Fargo & Co., Senior Notes		3.750	%		1/24/24		11,840,000		12,876,216
Wells Fargo & Co., Senior Notes		3.000	%		10/23/26		29,510,000		32,302,097
Wells Fargo & Co., Senior Notes		4.150	%		1/24/29		23,420,000		27,563,087
Wells Fargo & Co., Senior Notes (1.654% to 6/2/23 then SOFR + 1.600%)		1.654	%		6/2/24		18,940,000		19,305,793	(d)
Wells Fargo & Co., Senior Notes (2.188% to 4/30/25 then SOFR + 2.000%)		2.188	%		4/30/26		25,380,000		26,512,527	(d)
Wells Fargo & Co., Senior Notes (2.393% to 6/2/27 then SOFR + 2.100%)		2.393	%		6/2/28		27,690,000		28,932,945	(d)
Wells Fargo & Co., Senior Notes (2.879% to 10/30/29 then 3 mo. USD LIBOR + 1.170%)		2.879	%		10/30/30		5,770,000		6,206,335	(d)
Wells Fargo & Co., Senior Notes (3.584% to 5/22/27 then 3 mo. USD LIBOR + 1.310%)		3.584	%		5/22/28		23,440,000		26,271,010	(d)
Wells Fargo & Co., Senior Notes (4.478% to 4/4/30 then 3 mo. USD LIBOR + 3.770%)		4.478	%		4/4/31		15,920,000		19,367,576	(d)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         31

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Wells Fargo & Co., Senior Notes (5.013% to 4/4/50 then 3 mo. USD LIBOR + 4.240%)		5.013	%		4/4/51		159,160,000	$	218,979,043	(d)
Wells Fargo & Co., Subordinated Notes		3.450	%		2/13/23		6,860,000		7,276,930
Wells Fargo & Co., Subordinated Notes		4.480	%		1/16/24		1,802,000		1,999,848
Wells Fargo & Co., Subordinated Notes		4.300	%		7/22/27		29,690,000		34,058,480
Wells Fargo & Co., Subordinated Notes		5.375	%		11/2/43		8,140,000		10,806,779
Wells Fargo & Co., Subordinated Notes		5.606	%		1/15/44		1,840,000		2,518,669
Wells Fargo & Co., Subordinated Notes		4.650	%		11/4/44		20,450,000		25,071,127
Wells Fargo & Co., Subordinated Notes		4.900	%		11/17/45		16,404,000		20,927,758
Wells Fargo & Co., Subordinated Notes		4.400	%		6/14/46		3,070,000		3,679,229
Wells Fargo & Co., Subordinated Notes		4.750	%		12/7/46		22,515,000		28,128,969
Westpac Banking Corp., Senior Notes		2.600	%		11/23/20		12,004,000		12,044,949
Total Banks									3,199,862,645
Capital Markets - 2.2%
Bank of New York Mellon Corp., Senior Notes		1.600	%		4/24/25		8,130,000		8,463,389
CME Group Inc., Senior Notes		5.300	%		9/15/43		4,500,000		6,663,975
Credit Suisse AG, Senior Notes		2.950	%		4/9/25		13,780,000		15,060,481
Credit Suisse Group AG, Junior Subordinated Notes (7.500% to 7/17/23 then USD 5 year ICE Swap Rate + 4.600%)		7.500	%		7/17/23		2,000,000		2,115,620	(a)(c)(d)
Credit Suisse Group AG, Senior Notes (2.193% to 6/5/25 then SOFR + 2.044%)		2.193	%		6/5/26		42,045,000		43,375,353	(a)(d)
Credit Suisse Group AG, Senior Notes (2.593% to 9/11/24 then SOFR + 1.560%)		2.593	%		9/11/25		6,450,000		6,739,181	(a)(d)

See Notes to Schedule of Investments.

    32     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
Credit Suisse Group AG, Senior Notes (4.194% to 4/1/30 then SOFR + 3.730%)		4.194	%		4/1/31		33,870,000	$	39,196,155	(a)(d)
Credit Suisse Group Funding Guernsey Ltd., Senior Notes		4.550	%		4/17/26		3,720,000		4,340,942
Credit Suisse Group Funding Guernsey Ltd., Senior Notes		4.875	%		5/15/45		3,285,000		4,413,251
Goldman Sachs Capital II, Junior Subordinated Notes (3 mo. USD LIBOR + 0.768%, 4.000% floor)		4.000	%		11/2/20		413,000		383,163	(c)(d)
Goldman Sachs Group Inc., Senior Notes		5.250	%		7/27/21		5,320,000		5,534,425
Goldman Sachs Group Inc., Senior Notes		3.200	%		2/23/23		12,610,000		13,377,885
Goldman Sachs Group Inc., Senior Notes		4.000	%		3/3/24		5,100,000		5,613,652
Goldman Sachs Group Inc., Senior Notes		3.850	%		7/8/24		5,410,000		5,954,642
Goldman Sachs Group Inc., Senior Notes		3.500	%		1/23/25		10,000,000		10,988,768
Goldman Sachs Group Inc., Senior Notes		3.500	%		4/1/25		16,970,000		18,756,320
Goldman Sachs Group Inc., Senior Notes		3.500	%		11/16/26		10,633,000		11,776,288
Goldman Sachs Group Inc., Senior Notes		2.600	%		2/7/30		10,000,000		10,591,413
Goldman Sachs Group Inc., Senior Notes		6.250	%		2/1/41		29,580,000		44,306,477
Goldman Sachs Group Inc., Senior Notes		4.750	%		10/21/45		20,030,000		26,432,899
Goldman Sachs Group Inc., Senior Notes (2.876% to 10/31/21 then 3 mo. USD LIBOR + 0.821%)		2.876	%		10/31/22		34,600,000		35,440,675	(d)
Goldman Sachs Group Inc., Senior Notes (3.691% to 6/5/27 then 3 mo. USD LIBOR + 1.510%)		3.691	%		6/5/28		5,760,000		6,464,267	(d)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         33

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
Goldman Sachs Group Inc., Senior Notes (3.814% to 4/23/28 then 3 mo. USD LIBOR + 1.158%)		3.814	%		4/23/29		76,385,000	$	87,050,628	(d)
Goldman Sachs Group Inc., Senior Notes (4.223% to 5/1/28 then 3 mo. USD LIBOR + 1.301%)		4.223	%		5/1/29		21,650,000		25,281,835	(d)
Goldman Sachs Group Inc., Subordinated Notes		4.250	%		10/21/25		24,160,000		27,518,505
Goldman Sachs Group Inc., Subordinated Notes		6.750	%		10/1/37		8,640,000		12,581,902
Goldman Sachs Group Inc., Subordinated Notes		5.150	%		5/22/45		21,841,000		28,917,960
KKR Group Finance Co. II LLC, Senior Notes		5.500	%		2/1/43		1,398,000		1,782,799	(a)
Lehman Brothers Holdings Capital Trust VII, Junior Subordinated Notes		5.857	%		11/2/20		5,550,000		0	*(c)(e)(f)(g)(h)
Lehman Brothers Holdings E-Capital Trust I, Junior Subordinated Notes		1.014	%		8/19/65		190,000		0	*(e)(f)(g)(h)
Lehman Brothers Holdings Inc., Junior Subordinated Notes		6.500	%		7/19/17		5,280,000		0	*(f)(g)(h)(i)
Lehman Brothers Holdings Inc., Subordinated Notes		6.750	%		12/28/17		1,070,000		0	*(f)(g)(h)(i)
Morgan Stanley, Senior Notes (2.188% to 4/28/25 then SOFR + 1.990%)		2.188	%		4/28/26		39,580,000		41,514,799	(d)
Morgan Stanley, Senior Notes (2.699% to 1/22/30 then SOFR + 1.143%)		2.699	%		1/22/31		26,340,000		28,115,185	(d)
Morgan Stanley, Senior Notes (3.622% to 4/1/30 then SOFR + 3.120%)		3.622	%		4/1/31		42,910,000		49,423,501	(d)
Morgan Stanley, Senior Notes (3.772% to 1/24/28 then 3 mo. USD LIBOR + 1.140%)		3.772	%		1/24/29		35,353,000		40,404,569	(d)
Morgan Stanley, Senior Notes (4.431% to 1/23/29 then 3 mo. USD LIBOR + 1.628%)		4.431	%		1/23/30		1,160,000		1,387,964	(d)

See Notes to Schedule of Investments.

    34     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
Morgan Stanley, Senior Notes (5.597% to 3/24/50 then SOFR + 4.840%)		5.597	%		3/24/51		4,380,000	$	6,619,586	(d)
UBS AG, Senior Notes		1.750	%		4/21/22		20,050,000		20,421,368	(a)
UBS AG, Senior Notes		4.500	%		6/26/48		3,490,000		4,869,312	(a)
UBS Group AG, Junior Subordinated Notes (7.000% to 1/31/24 then USD 5 year ICE Swap Rate + 4.344%)		7.000	%		1/31/24		40,850,000		43,635,766	(a)(c)(d)
UBS Group AG, Senior Notes		3.491	%		5/23/23		32,680,000		34,099,461	(a)
UBS Group AG, Senior Notes		4.125	%		9/24/25		4,880,000		5,567,593	(a)
UBS Group AG, Senior Notes		4.253	%		3/23/28		24,590,000		28,562,111	(a)
UBS Group AG, Senior Notes (2.859% to 8/15/22 then 3 mo. USD LIBOR + 0.954%)		2.859	%		8/15/23		2,300,000		2,386,852	(a)(d)
Total Capital Markets									816,130,917
Diversified Financial Services - 0.4%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		4.500	%		5/15/21		2,590,000		2,639,670
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		5.000	%		10/1/21		1,180,000		1,216,672
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.150	%		2/15/24		18,350,000		18,183,892
Ahold Lease USA Inc. Pass-Through-Trust, Senior Secured Notes		8.620	%		1/2/25		3,270,635		3,573,793
DAE Funding LLC, Senior Notes		5.750	%		11/15/23		2,500,000		2,528,125	(a)
GE Capital International Funding Co. Unlimited Co., Senior Notes		4.418	%		11/15/35		20,571,000		21,762,131
ILFC E-Capital Trust II, Ltd. GTD ((Highest of 3 mo. USD LIBOR, 10 year Treasury Constant Maturity Rate or 30 year Treasury Constant Maturity Rate) + 1.800%)		3.230	%		12/21/65		2,870,000		1,569,302	(a)(d)
International Lease Finance Corp., Senior Notes		5.875	%		8/15/22		3,540,000		3,789,672

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         35

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Diversified Financial Services - (continued)
National Securities Clearing Corp., Senior Notes		1.200	%		4/23/23		10,000,000	$	10,183,017	(a)
National Securities Clearing Corp., Senior Notes		1.500	%		4/23/25		9,000,000		9,285,666	(a)
Park Aerospace Holdings Ltd., Senior Notes		5.250	%		8/15/22		9,280,000		9,321,648	(a)
Park Aerospace Holdings Ltd., Senior Notes		4.500	%		3/15/23		1,170,000		1,160,075	(a)
Park Aerospace Holdings Ltd., Senior Notes		5.500	%		2/15/24		2,790,000		2,813,364	(a)
Syngenta Finance NV, Senior Notes		3.933	%		4/23/21		22,950,000		23,248,733	(a)
USAA Capital Corp., Senior Notes		1.500	%		5/1/23		600,000		615,689	(a)
USAA Capital Corp., Senior Notes		2.125	%		5/1/30		1,100,000		1,160,433	(a)
Vanguard Group Inc.		3.050	%		8/22/50		21,230,000		19,937,093	(f)(g)
Total Diversified Financial Services									132,988,975
Insurance - 0.3%
Ambac Assurance Corp., Subordinated Notes		5.100	%		6/7/21		298,644		409,888	(a)(c)
Ambac LSNI LLC, Senior Secured Notes (3 mo. USD LIBOR + 5.000%)		6.000	%		2/12/23		1,098,112		1,099,485	(a)(d)
American International Group Inc., Junior Subordinated Notes		6.250	%		3/15/37		446,000		492,573
American International Group Inc., Senior Notes		2.500	%		6/30/25		7,979,000		8,534,118
American International Group Inc., Senior Notes		3.750	%		7/10/25		12,460,000		13,961,988
Berkshire Hathaway Finance Corp., Senior Notes		4.250	%		1/15/49		19,600,000		25,595,227
Brighthouse Financial Inc., Senior Notes		4.700	%		6/22/47		1,150,000		1,109,233
Chubb INA Holdings Inc., Senior Notes		2.300	%		11/3/20		4,100,000		4,105,826
Chubb INA Holdings Inc., Senior Notes		3.350	%		5/3/26		5,420,000		6,146,514
Guardian Life Global Funding, Secured Notes		1.100	%		6/23/25		5,940,000		5,993,496	(a)

See Notes to Schedule of Investments.

    36     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Insurance - (continued)
MetLife Capital Trust IV, Junior Subordinated Notes		7.875	%		12/15/37		8,900,000	$	12,295,119	(a)
MetLife Inc., Junior Subordinated Notes (6.400% to 12/15/36 then 3 mo. USD LIBOR + 2.205%)		6.400	%		12/15/36		5,493,000		6,848,319
New York Life Global Funding, Senior Secured Notes		0.950	%		6/24/25		10,670,000		10,783,138	(a)
Principal Life Global Funding II, Secured Notes		1.250	%		6/23/25		5,400,000		5,506,701	(a)
Prudential Financial Inc., Senior Notes		4.500	%		11/16/21		300,000		314,134
Teachers Insurance & Annuity Association of America, Subordinated Notes		4.900	%		9/15/44		7,755,000		9,815,219	(a)
Total Insurance									113,010,978
TOTAL FINANCIALS									4,261,993,515
HEALTH CARE - 4.1%
Biotechnology - 0.7%
AbbVie Inc., Senior Notes		3.450	%		3/15/22		7,230,000		7,501,545	(a)
AbbVie Inc., Senior Notes		2.300	%		11/21/22		52,120,000		53,952,539	(a)
AbbVie Inc., Senior Notes		3.750	%		11/14/23		3,210,000		3,504,808
AbbVie Inc., Senior Notes		2.600	%		11/21/24		47,110,000		49,961,397	(a)
AbbVie Inc., Senior Notes		3.800	%		3/15/25		10,140,000		11,254,683	(a)
AbbVie Inc., Senior Notes		3.600	%		5/14/25		9,430,000		10,462,841
AbbVie Inc., Senior Notes		2.950	%		11/21/26		10,890,000		11,878,014	(a)
AbbVie Inc., Senior Notes		3.200	%		11/21/29		61,260,000		67,754,637	(a)
AbbVie Inc., Senior Notes		4.550	%		3/15/35		140,000		172,584	(a)
AbbVie Inc., Senior Notes		4.750	%		3/15/45		472,000		572,581	(a)
AbbVie Inc., Senior Notes		4.250	%		11/21/49		13,038,000		15,560,260	(a)
Amgen Inc., Senior Notes		3.625	%		5/22/24		1,480,000		1,630,229
Amgen Inc., Senior Notes		4.663	%		6/15/51		1,933,000		2,520,986
Gilead Sciences Inc., Senior Notes		3.700	%		4/1/24		399,000		438,542
Gilead Sciences Inc., Senior Notes		3.500	%		2/1/25		5,000,000		5,540,946

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         37

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Biotechnology - (continued)
Gilead Sciences Inc., Senior Notes		3.650	%		3/1/26		1,560,000	$	1,759,758
Gilead Sciences Inc., Senior Notes		4.750	%		3/1/46		6,165,000		8,056,975
Total Biotechnology									252,523,325
Health Care Equipment & Supplies - 0.2%
Abbott Laboratories, Senior Notes		3.750	%		11/30/26		17,140,000		19,924,469
Abbott Laboratories, Senior Notes		4.750	%		11/30/36		6,660,000		8,925,036
Abbott Laboratories, Senior Notes		4.900	%		11/30/46		10,150,000		14,438,171
Becton Dickinson and Co., Senior Notes		3.363	%		6/6/24		19,160,000		20,745,847
Becton Dickinson and Co., Senior Notes		3.734	%		12/15/24		3,922,000		4,331,070
Becton Dickinson and Co., Senior Notes		4.685	%		12/15/44		2,251,000		2,789,633
Medtronic Inc., Senior Notes		3.500	%		3/15/25		9,418,000		10,621,608
Total Health Care Equipment & Supplies									81,775,834
Health Care Providers & Services - 1.7%
Aetna Inc., Senior Notes		2.800	%		6/15/23		2,610,000		2,752,465
Anthem Inc., Senior Notes		3.700	%		8/15/21		2,130,000		2,173,452
Anthem Inc., Senior Notes		3.125	%		5/15/22		5,280,000		5,509,178
Anthem Inc., Senior Notes		2.950	%		12/1/22		9,320,000		9,804,809
Anthem Inc., Senior Notes		3.350	%		12/1/24		4,140,000		4,552,476
Anthem Inc., Senior Notes		3.650	%		12/1/27		5,815,000		6,634,079
Anthem Inc., Senior Notes		4.375	%		12/1/47		4,000,000		4,907,550
Centene Corp., Senior Notes		4.750	%		5/15/22		5,122,000		5,188,586
Centene Corp., Senior Notes		4.750	%		1/15/25		790,000		812,949
Centene Corp., Senior Notes		5.375	%		6/1/26		2,940,000		3,101,700	(a)
Centene Corp., Senior Notes		4.625	%		12/15/29		3,120,000		3,369,460
Centene Corp., Senior Notes		3.375	%		2/15/30		3,060,000		3,179,539
Cigna Corp., Senior Notes		3.400	%		9/17/21		9,330,000		9,604,517
Cigna Corp., Senior Notes		3.750	%		7/15/23		22,489,000		24,389,669
Cigna Corp., Senior Notes		4.125	%		11/15/25		8,050,000		9,243,070
Cigna Corp., Senior Notes		4.375	%		10/15/28		22,000,000		26,205,530
Cigna Corp., Senior Notes		4.800	%		8/15/38		26,282,000		32,727,036
Cigna Corp., Senior Notes		4.900	%		12/15/48		6,510,000		8,478,362

See Notes to Schedule of Investments.

    38     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
CommonSpirit Health, Secured Notes		4.350	%		11/1/42		1,410,000	$	1,537,314
CVS Health Corp., Senior Notes		3.350	%		3/9/21		4,402,000		4,459,874
CVS Health Corp., Senior Notes		2.750	%		12/1/22		16,440,000		17,150,821
CVS Health Corp., Senior Notes		3.700	%		3/9/23		12,353,000		13,241,849
CVS Health Corp., Senior Notes		4.100	%		3/25/25		3,182,000		3,598,078
CVS Health Corp., Senior Notes		3.875	%		7/20/25		4,447,000		5,015,460
CVS Health Corp., Senior Notes		3.625	%		4/1/27		5,590,000		6,269,992
CVS Health Corp., Senior Notes		4.300	%		3/25/28		94,790,000		111,089,322
CVS Health Corp., Senior Notes		3.750	%		4/1/30		21,210,000		24,261,036
CVS Health Corp., Senior Notes		4.125	%		4/1/40		4,720,000		5,397,880
CVS Health Corp., Senior Notes		5.125	%		7/20/45		12,410,000		15,727,259
CVS Health Corp., Senior Notes		5.050	%		3/25/48		29,693,000		38,023,078
CVS Health Corp., Senior Notes		4.250	%		4/1/50		11,275,000		13,322,827
Fresenius Medical Care U.S. Finance II Inc., Senior Notes		5.875	%		1/31/22		5,140,000		5,469,679	(a)
Fresenius Medical Care U.S. Finance II Inc., Senior Notes		4.750	%		10/15/24		780,000		875,344	(a)
Fresenius Medical Care U.S. Finance Inc., Senior Notes		5.750	%		2/15/21		2,045,000		2,082,257	(a)
HCA Inc., Senior Notes		5.375	%		2/1/25		3,542,000		3,883,750
HCA Inc., Senior Notes		7.690	%		6/15/25		723,000		852,160
HCA Inc., Senior Notes		5.375	%		9/1/26		738,000		816,874
HCA Inc., Senior Notes		5.625	%		9/1/28		700,000		802,007
HCA Inc., Senior Notes		5.875	%		2/1/29		4,060,000		4,736,822
HCA Inc., Senior Notes		3.500	%		9/1/30		5,720,000		5,839,643
HCA Inc., Senior Notes		7.500	%		11/15/95		15,410,000		19,174,586
HCA Inc., Senior Secured Notes		4.750	%		5/1/23		4,150,000		4,529,965
HCA Inc., Senior Secured Notes		5.000	%		3/15/24		330,000		370,002
HCA Inc., Senior Secured Notes		5.250	%		6/15/26		2,960,000		3,458,999
HCA Inc., Senior Secured Notes		4.500	%		2/15/27		1,780,000		2,001,890
HCA Inc., Senior Secured Notes		5.500	%		6/15/47		5,920,000		7,356,475
Humana Inc., Senior Notes		3.150	%		12/1/22		2,470,000		2,595,397
Humana Inc., Senior Notes		4.500	%		4/1/25		2,460,000		2,827,204
Humana Inc., Senior Notes		3.950	%		3/15/27		8,340,000		9,539,550
Humana Inc., Senior Notes		4.625	%		12/1/42		3,460,000		4,319,395
Humana Inc., Senior Notes		4.950	%		10/1/44		2,476,000		3,285,551
Humana Inc., Senior Notes		4.800	%		3/15/47		600,000		788,032
UnitedHealth Group Inc., Senior Notes		3.875	%		10/15/20		3,000,000		3,003,912

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         39

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE	FACE AMOUNT†	VALUE
Health Care Providers & Services - (continued)
UnitedHealth Group Inc., Senior Notes		2.875	%	12/15/21	6,088,000	$	6,280,467
UnitedHealth Group Inc., Senior Notes		2.375	%	10/15/22	1,990,000		2,071,341
UnitedHealth Group Inc., Senior Notes		3.500	%	6/15/23	4,480,000		4,849,144
UnitedHealth Group Inc., Senior Notes		3.750	%	7/15/25	6,210,000		7,095,786
UnitedHealth Group Inc., Senior Notes		1.250	%	1/15/26	4,790,000		4,923,906
UnitedHealth Group Inc., Senior Notes		3.875	%	12/15/28	2,622,000		3,120,409
UnitedHealth Group Inc., Senior Notes		2.000	%	5/15/30	11,310,000		11,876,514
UnitedHealth Group Inc., Senior Notes		5.700	%	10/15/40	10,000,000		14,656,051
UnitedHealth Group Inc., Senior Notes		4.250	%	6/15/48	3,420,000		4,368,061
UnitedHealth Group Inc., Senior Notes		4.450	%	12/15/48	10,480,000		13,916,261
UnitedHealth Group Inc., Senior Notes		3.700	%	8/15/49	6,465,000		7,749,179
UnitedHealth Group Inc., Senior Notes		3.875	%	8/15/59	10,385,000		12,760,631
UnitedHealth Group Inc., Senior Notes		3.125	%	5/15/60	1,570,000		1,692,789
Total Health Care Providers & Services							605,699,250
Pharmaceuticals - 1.5%
Bausch Health Americas Inc., Senior Notes		9.250	%	4/1/26	4,681,000		5,155,185	(a)
Bausch Health Americas Inc., Senior Notes		8.500	%	1/31/27	36,000		39,606	(a)
Bausch Health Cos. Inc., Senior Notes		9.000	%	12/15/25	5,050,000		5,506,015	(a)
Bausch Health Cos. Inc., Senior Notes		5.000	%	1/30/28	20,974,000		20,397,215	(a)
Bausch Health Cos. Inc., Senior Notes		6.250	%	2/15/29	18,970,000		19,539,100	(a)
Bausch Health Cos. Inc., Senior Notes		7.250	%	5/30/29	10,370,000		11,191,148	(a)

See Notes to Schedule of Investments.

    40     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Pharmaceuticals - (continued)
Bausch Health Cos. Inc., Senior Notes		5.250	%		1/30/30		74,710,000	$	73,673,025	(a)
Bausch Health Cos. Inc., Senior Secured Notes		5.500	%		11/1/25		590,000		606,077	(a)
Bristol-Myers Squibb Co., Senior Notes		2.250	%		8/15/21		10,330,000		10,515,257
Bristol-Myers Squibb Co., Senior Notes		2.600	%		5/16/22		14,560,000		15,111,307
Bristol-Myers Squibb Co., Senior Notes		3.550	%		8/15/22		4,650,000		4,935,476
Bristol-Myers Squibb Co., Senior Notes		3.625	%		5/15/24		2,200,000		2,425,506
Bristol-Myers Squibb Co., Senior Notes		2.900	%		7/26/24		39,239,000		42,535,624
Bristol-Myers Squibb Co., Senior Notes		3.875	%		8/15/25		12,755,000		14,558,388
Bristol-Myers Squibb Co., Senior Notes		3.200	%		6/15/26		18,350,000		20,724,178
Bristol-Myers Squibb Co., Senior Notes		3.400	%		7/26/29		8,710,000		10,159,946
Bristol-Myers Squibb Co., Senior Notes		5.250	%		8/15/43		3,712,000		5,254,017
Bristol-Myers Squibb Co., Senior Notes		5.000	%		8/15/45		15,520,000		21,894,315
Bristol-Myers Squibb Co., Senior Notes		4.550	%		2/20/48		4,433,000		6,015,802
GlaxoSmithKline Capital PLC, Senior Notes		2.850	%		5/8/22		1,000,000		1,040,992
Johnson & Johnson, Senior Notes		0.550	%		9/1/25		9,820,000		9,829,979
Johnson & Johnson, Senior Notes		0.950	%		9/1/27		19,580,000		19,688,983
Johnson & Johnson, Senior Notes		3.625	%		3/3/37		29,750,000		36,470,293
Johnson & Johnson, Senior Notes		2.100	%		9/1/40		3,700,000		3,703,055
Merck & Co. Inc., Senior Notes		0.750	%		2/24/26		17,050,000		17,110,203
Merck & Co. Inc., Senior Notes		1.450	%		6/24/30		9,130,000		9,278,161
Pfizer Inc., Senior Notes		0.800	%		5/28/25		20,340,000		20,507,416
Pfizer Inc., Senior Notes		2.625	%		4/1/30		14,195,000		15,903,974
Pfizer Inc., Senior Notes		1.700	%		5/28/30		13,010,000		13,437,037

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         41

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Pharmaceuticals - (continued)
Pfizer Inc., Senior Notes		7.200	%		3/15/39		5,000	$	8,311
Teva Pharmaceutical Finance Co. BV, Senior Notes		3.650	%		11/10/21		2,140,000		2,140,674
Teva Pharmaceutical Finance Co. BV, Senior Notes		2.950	%		12/18/22		7,388,000		7,195,949
Teva Pharmaceutical Finance IV BV, Senior Notes		3.650	%		11/10/21		3,879,000		3,878,127
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		2.200	%		7/21/21		23,348,000		23,169,971
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		2.800	%		7/21/23		25,567,000		24,495,487
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		6.000	%		4/15/24		2,985,000		3,051,640
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		7.125	%		1/31/25		16,780,000		17,652,224
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		3.150	%		10/1/26		20,950,000		18,521,581
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		4.100	%		10/1/46		24,330,000		20,296,086
Wyeth LLC, Senior Notes		5.950	%		4/1/37		5,098,000		7,568,158
Total Pharmaceuticals									565,185,488
TOTAL HEALTH CARE									1,505,183,897
INDUSTRIALS - 3.3%
Aerospace & Defense - 1.2%
Boeing Co., Senior Notes		4.875	%		5/1/25		45,320,000		49,383,904
Boeing Co., Senior Notes		3.100	%		5/1/26		3,720,000		3,713,684
Boeing Co., Senior Notes		2.700	%		2/1/27		5,050,000		4,932,252
Boeing Co., Senior Notes		2.800	%		3/1/27		4,740,000		4,631,686
Boeing Co., Senior Notes		3.200	%		3/1/29		16,620,000		16,392,037
Boeing Co., Senior Notes		5.150	%		5/1/30		23,970,000		27,013,428
Boeing Co., Senior Notes		3.250	%		2/1/35		32,524,000		30,605,936
Boeing Co., Senior Notes		3.550	%		3/1/38		3,780,000		3,452,057
Boeing Co., Senior Notes		5.705	%		5/1/40		18,190,000		21,536,535
Boeing Co., Senior Notes		3.750	%		2/1/50		9,510,000		8,733,056
Boeing Co., Senior Notes		5.805	%		5/1/50		42,300,000		51,370,229
Boeing Co., Senior Notes		5.930	%		5/1/60		13,600,000		16,919,359
General Dynamics Corp., Senior Notes		3.250	%		4/1/25		1,740,000		1,927,638
General Dynamics Corp., Senior Notes		3.500	%		5/15/25		1,990,000		2,235,310

See Notes to Schedule of Investments.

    42     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Aerospace & Defense - (continued)
General Dynamics Corp., Senior Notes		4.250	%		4/1/40		1,535,000	$	1,937,867
General Dynamics Corp., Senior Notes		4.250	%		4/1/50		9,321,000		12,251,899
Lockheed Martin Corp., Senior Notes		3.100	%		1/15/23		2,269,000		2,406,768
Lockheed Martin Corp., Senior Notes		3.550	%		1/15/26		13,115,000		14,920,303
Lockheed Martin Corp., Senior Notes		4.500	%		5/15/36		2,420,000		3,083,580
Northrop Grumman Corp., Senior Notes		2.930	%		1/15/25		16,925,000		18,426,109
Northrop Grumman Corp., Senior Notes		3.250	%		1/15/28		29,720,000		33,436,427
Northrop Grumman Corp., Senior Notes		5.250	%		5/1/50		20,320,000		29,300,432
Raytheon Co., Senior Notes		3.125	%		10/15/20		4,520,000		4,524,668
Raytheon Technologies Corp., Senior Notes		3.150	%		12/15/24		6,150,000		6,649,895	(a)
Raytheon Technologies Corp., Senior Notes		3.950	%		8/16/25		14,150,000		16,098,044
Raytheon Technologies Corp., Senior Notes		4.125	%		11/16/28		7,780,000		9,225,123
Raytheon Technologies Corp., Senior Notes		7.500	%		9/15/29		10,000,000		14,549,996
Raytheon Technologies Corp., Senior Notes		2.250	%		7/1/30		13,000,000		13,784,669
Raytheon Technologies Corp., Senior Notes		4.500	%		6/1/42		4,109,000		5,203,067
TransDigm Inc., Senior Secured Notes		8.000	%		12/15/25		3,710,000		4,038,335	(a)
TransDigm Inc., Senior Secured Notes		6.250	%		3/15/26		8,370,000		8,751,253	(a)
Total Aerospace & Defense									441,435,546
Air Freight & Logistics - 0.0%††
XPO Logistics Inc., Senior Notes		6.500	%		6/15/22		4,080,000		4,099,278	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         43

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Airlines - 0.6%
Continental Airlines Pass-Through Trust		5.983	%		4/19/22		7,109,594	$	6,979,658
Continental Airlines Pass-Through Trust, Senior Secured Trust		6.703	%		6/15/21		19,016		18,636
Delta Air Lines Inc., Senior Notes		2.600	%		12/4/20		5,530,000		5,537,407
Delta Air Lines Inc., Senior Notes		3.400	%		4/19/21		24,310,000		24,217,270
Delta Air Lines Inc., Senior Notes		3.625	%		3/15/22		10,830,000		10,645,961
Delta Air Lines Inc., Senior Notes		3.800	%		4/19/23		4,300,000		4,166,961
Delta Air Lines Inc., Senior Notes		2.900	%		10/28/24		8,000,000		7,143,337
Delta Air Lines Inc., Senior Notes		7.375	%		1/15/26		19,620,000		20,599,517
Delta Air Lines Inc., Senior Secured Notes		7.000	%		5/1/25		67,950,000		74,713,715	(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.500	%		10/20/25		16,970,000		17,440,383	(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.750	%		10/20/28		15,300,000		15,908,379	(a)
Mileage Plus Holdings LLC/ Mileage Plus Intellectual Property Assets Ltd., Senior Secured Notes		6.500	%		6/20/27		15,750,000		16,439,062	(a)
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes		8.000	%		9/20/25		19,560,000		20,748,661	(a)
Total Airlines									224,558,947
Building Products - 0.2%
Carrier Global Corp., Senior Notes		1.923	%		2/15/23		4,260,000		4,385,580	(a)
Carrier Global Corp., Senior Notes		2.242	%		2/15/25		15,020,000		15,684,466	(a)
Carrier Global Corp., Senior Notes		2.493	%		2/15/27		1,960,000		2,053,560	(a)
Carrier Global Corp., Senior Notes		2.722	%		2/15/30		18,130,000		19,010,650	(a)
Carrier Global Corp., Senior Notes		2.700	%		2/15/31		6,580,000		6,873,479	(a)

See Notes to Schedule of Investments.

    44     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Building Products - (continued)
Carrier Global Corp., Senior Notes		3.377	%		4/5/40		8,110,000	$	8,527,049	(a)
Carrier Global Corp., Senior Notes		3.577	%		4/5/50		7,120,000		7,605,546	(a)
Total Building Products									64,140,330
Commercial Services & Supplies - 0.1%
Cintas Corp. No 2, Senior Notes		2.900	%		4/1/22		7,980,000		8,258,214
Cintas Corp. No 2, Senior Notes		3.700	%		4/1/27		7,500,000		8,663,267
GFL Environmental Inc., Senior Secured Notes		4.250	%		6/1/25		7,650,000		7,740,844	(a)
Republic Services Inc., Senior Notes		2.500	%		8/15/24		9,100,000		9,691,417
Waste Management Inc., Senior Notes		4.600	%		3/1/21		2,370,000		2,387,107
Waste Management Inc., Senior Notes		3.500	%		5/15/24		4,440,000		4,863,259
Waste Management Inc., Senior Notes		4.150	%		7/15/49		7,460,000		9,525,648
Total Commercial Services & Supplies									51,129,756
Electrical Equipment - 0.1%
Eaton Corp., Senior Notes		2.750	%		11/2/22		25,195,000		26,421,162
Eaton Corp., Senior Notes		4.150	%		11/2/42		4,160,000		5,143,130
Total Electrical Equipment									31,564,292
Industrial Conglomerates - 0.5%
3M Co., Senior Notes		2.375	%		8/26/29		10,110,000		10,943,114
3M Co., Senior Notes		3.050	%		4/15/30		3,400,000		3,891,685
3M Co., Senior Notes		3.700	%		4/15/50		25,000,000		30,407,364
General Electric Co., Senior Notes		3.450	%		5/1/27		2,950,000		3,127,922
General Electric Co., Senior Notes		3.625	%		5/1/30		6,030,000		6,262,047
General Electric Co., Senior Notes		6.750	%		3/15/32		10,280,000		12,943,472
General Electric Co., Senior Notes		6.150	%		8/7/37		5,260,000		6,327,041
General Electric Co., Senior Notes		5.875	%		1/14/38		16,543,000		19,388,580
General Electric Co., Senior Notes		6.875	%		1/10/39		35,494,000		45,699,020

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         45

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Industrial Conglomerates - (continued)
General Electric Co., Senior Notes		4.250	%		5/1/40		6,280,000	$	6,392,245
General Electric Co., Senior Notes		4.350	%		5/1/50		8,260,000		8,449,916
Honeywell International Inc., Senior Notes		1.350	%		6/1/25		9,750,000		10,063,764
Total Industrial Conglomerates									163,896,170
Machinery - 0.2%
Deere & Co., Senior Notes		3.100	%		4/15/30		4,080,000		4,669,809
Deere & Co., Senior Notes		3.750	%		4/15/50		24,850,000		31,320,651
Otis Worldwide Corp., Senior Notes		2.056	%		4/5/25		6,550,000		6,902,405
Otis Worldwide Corp., Senior Notes		2.293	%		4/5/27		6,560,000		6,987,921
Otis Worldwide Corp., Senior Notes		2.565	%		2/15/30		20,020,000		21,551,262
Total Machinery									71,432,048
Road & Rail - 0.2%
Union Pacific Corp., Senior Notes		3.750	%		7/15/25		8,730,000		9,948,867
Union Pacific Corp., Senior Notes		2.150	%		2/5/27		4,380,000		4,669,677
Union Pacific Corp., Senior Notes		3.950	%		9/10/28		28,460,000		33,636,331
Union Pacific Corp., Senior Notes		3.839	%		3/20/60		23,430,000		27,296,721
Union Pacific Corp., Senior Notes		3.750	%		2/5/70		12,515,000		14,196,806
Total Road & Rail									89,748,402
Trading Companies & Distributors - 0.1%
Air Lease Corp., Senior Notes		3.375	%		7/1/25		9,600,000		9,820,402
Ashtead Capital Inc., Secured Notes		4.125	%		8/15/25		3,066,000		3,154,385	(a)
United Rentals North America Inc., Secured Notes		3.875	%		11/15/27		2,380,000		2,454,375
United Rentals North America Inc., Senior Notes		5.875	%		9/15/26		3,060,000		3,227,887
United Rentals North America Inc., Senior Notes		5.500	%		5/15/27		190,000		201,994
United Rentals North America Inc., Senior Notes		4.875	%		1/15/28		5,413,000		5,690,416

See Notes to Schedule of Investments.

    46     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Trading Companies & Distributors - (continued)
United Rentals North America Inc., Senior Notes		5.250	%		1/15/30		1,560,000	$	1,705,275
United Rentals North America Inc., Senior Notes		3.875	%		2/15/31		24,500,000		24,913,438
Total Trading Companies & Distributors									51,168,172
Transportation Infrastructure - 0.1%
DP World PLC, Senior Notes		5.625	%		9/25/48		24,030,000		27,514,350	(a)
TOTAL INDUSTRIALS									1,220,687,291
INFORMATION TECHNOLOGY - 2.2%
Communications Equipment - 0.0%††
CommScope Technologies LLC, Senior Notes		5.000	%		3/15/27		2,740,000		2,635,538	(a)
L3Harris Technologies Inc., Senior Notes		4.854	%		4/27/35		2,988,000		3,944,142
L3Harris Technologies Inc., Senior Notes		5.054	%		4/27/45		6,087,000		8,289,517
Total Communications Equipment									14,869,197
IT Services - 0.4%
International Business Machines Corp., Senior Notes		3.000	%		5/15/24		40,290,000		43,679,382
Mastercard Inc., Senior Notes		3.850	%		3/26/50		4,530,000		5,816,401
PayPal Holdings Inc., Senior Notes		1.350	%		6/1/23		11,850,000		12,111,982
PayPal Holdings Inc., Senior Notes		1.650	%		6/1/25		12,430,000		12,893,886
PayPal Holdings Inc., Senior Notes		2.300	%		6/1/30		6,750,000		7,156,606
Visa Inc., Senior Notes		3.150	%		12/14/25		26,130,000		29,269,256
Visa Inc., Senior Notes		2.050	%		4/15/30		9,790,000		10,515,930
Visa Inc., Senior Notes		4.300	%		12/14/45		16,470,000		21,985,017
Visa Inc., Senior Notes		2.000	%		8/15/50		11,830,000		10,929,581
Total IT Services									154,358,041
Semiconductors & Semiconductor Equipment - 0.9%
Broadcom Inc., Senior Notes		2.250	%		11/15/23		21,820,000		22,702,218
Broadcom Inc., Senior Notes		4.700	%		4/15/25		32,370,000		36,819,854
Broadcom Inc., Senior Notes		3.150	%		11/15/25		25,730,000		27,901,525
Broadcom Inc., Senior Notes		4.150	%		11/15/30		3,000,000		3,376,948
Intel Corp., Senior Notes		3.700	%		7/29/25		4,050,000		4,604,048
Intel Corp., Senior Notes		4.600	%		3/25/40		6,320,000		8,459,777
Intel Corp., Senior Notes		4.750	%		3/25/50		40,820,000		56,514,343

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         47

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Semiconductors & Semiconductor Equipment - (continued)
Intel Corp., Senior Notes		4.950	%		3/25/60		16,025,000	$	23,527,888
Micron Technology Inc., Senior Notes		2.497	%		4/24/23		12,900,000		13,407,352
NVIDIA Corp., Senior Notes		2.850	%		4/1/30		7,890,000		8,886,323
NVIDIA Corp., Senior Notes		3.500	%		4/1/40		17,250,000		20,302,921
NVIDIA Corp., Senior Notes		3.500	%		4/1/50		49,120,000		57,869,291
NVIDIA Corp., Senior Notes		3.700	%		4/1/60		16,020,000		19,183,836
NXP BV/NXP Funding LLC/NXP USA Inc., Senior Notes		2.700	%		5/1/25		8,540,000		9,058,489	(a)
Texas Instruments Inc., Senior Notes		1.750	%		5/4/30		8,690,000		8,990,596
TSMC Global Ltd., Senior Notes		0.750	%		9/28/25		9,090,000		9,014,803	(a)
TSMC Global Ltd., Senior Notes		1.000	%		9/28/27		12,370,000		12,191,883	(a)
Total Semiconductors & Semiconductor Equipment									342,812,095
Software - 0.6%
Microsoft Corp., Senior Notes		1.550	%		8/8/21		18,543,000		18,747,527
Microsoft Corp., Senior Notes		2.400	%		2/6/22		14,850,000		15,269,494
Microsoft Corp., Senior Notes		2.875	%		2/6/24		19,298,000		20,787,178
Microsoft Corp., Senior Notes		2.700	%		2/12/25		4,322,000		4,711,295
Microsoft Corp., Senior Notes		2.400	%		8/8/26		74,200,000		81,159,330
Microsoft Corp., Senior Notes		3.300	%		2/6/27		40,450,000		46,282,500
Microsoft Corp., Senior Notes		3.450	%		8/8/36		770,000		936,662
Microsoft Corp., Senior Notes		4.100	%		2/6/37		2,844,000		3,700,582
Microsoft Corp., Senior Notes		2.525	%		6/1/50		1,686,000		1,774,289
Microsoft Corp., Senior Notes		3.950	%		8/8/56		3,169,000		4,196,235
Microsoft Corp., Senior Notes		2.675	%		6/1/60		671,000		713,076
salesforce.com Inc., Senior Notes		3.250	%		4/11/23		11,370,000		12,184,372
salesforce.com Inc., Senior Notes		3.700	%		4/11/28		3,480,000		4,111,394
Total Software									214,573,934
Technology Hardware, Storage & Peripherals - 0.3%
Apple Inc., Senior Notes		2.000	%		11/13/20		11,350,000		11,373,865
Apple Inc., Senior Notes		1.550	%		8/4/21		347,000		350,414
Apple Inc., Senior Notes		1.125	%		5/11/25		33,600,000		34,437,775
Apple Inc., Senior Notes		2.450	%		8/4/26		32,030,000		34,931,561
Dell International LLC/EMC Corp., Senior Secured Notes		4.420	%		6/15/21		9,369,000		9,591,609	(a)
Total Technology Hardware, Storage & Peripherals									90,685,224
TOTAL INFORMATION TECHNOLOGY									817,298,491

See Notes to Schedule of Investments.

    48     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
MATERIALS - 1.0%
Chemicals - 0.1%
Equate Petrochemical BV, Senior Notes		4.250	%		11/3/26		14,230,000	$	14,968,181	(a)
LyondellBasell Industries NV, Senior Notes		6.000	%		11/15/21		2,360,000		2,469,042
LyondellBasell Industries NV, Senior Notes		5.750	%		4/15/24		2,690,000		3,089,162
OCP SA, Senior Notes		4.500	%		10/22/25		10,510,000		11,126,254	(a)
Total Chemicals									31,652,639
Containers & Packaging - 0.0%††
Ardagh Packaging Finance PLC/ Ardagh Holdings USA Inc., Senior Notes		6.000	%		2/15/25		940,000		976,942	(a)
Ardagh Packaging Finance PLC/ Ardagh Holdings USA Inc., Senior Notes		5.250	%		8/15/27		610,000		622,200	(a)
Reynolds Group Issuer Inc./ Reynolds Group Issuer LLC/ Reynolds Group Issuer (Luxembourg) SA, Senior Secured Notes		5.125	%		7/15/23		5,190,000		5,257,470	(a)
WestRock RKT Co., Senior Notes		4.000	%		3/1/23		2,250,000		2,405,699
Total Containers & Packaging									9,262,311
Metals & Mining - 0.9%
Anglo American Capital PLC, Senior Notes		3.750	%		4/10/22		12,605,000		13,060,261	(a)
Anglo American Capital PLC, Senior Notes		3.625	%		9/11/24		3,400,000		3,659,885	(a)
Anglo American Capital PLC, Senior Notes		4.750	%		4/10/27		9,785,000		11,258,786	(a)
Anglo American Capital PLC, Senior Notes		4.000	%		9/11/27		13,125,000		14,498,962	(a)
ArcelorMittal SA, Senior Notes		3.600	%		7/16/24		17,003,000		17,827,632
ArcelorMittal SA, Senior Notes		6.125	%		6/1/25		17,210,000		19,848,495
ArcelorMittal SA, Senior Notes		4.550	%		3/11/26		8,835,000		9,584,851
ArcelorMittal SA, Senior Notes		7.250	%		10/15/39		3,490,000		4,414,849
Barrick Gold Corp., Senior Notes		5.250	%		4/1/42		1,590,000		2,182,968
Barrick North America Finance LLC, Senior Notes		5.700	%		5/30/41		8,454,000		11,971,922

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         49

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Metals & Mining - (continued)
Barrick North America Finance LLC, Senior Notes		5.750	%		5/1/43		8,260,000	$	12,062,431
BHP Billiton Finance USA Ltd., Senior Notes		2.875	%		2/24/22		983,000		1,016,097
BHP Billiton Finance USA Ltd., Senior Notes		5.000	%		9/30/43		7,630,000		10,742,324
Freeport-McMoRan Inc., Senior Notes		3.875	%		3/15/23		40,000		41,288
Freeport-McMoRan Inc., Senior Notes		4.550	%		11/14/24		130,000		140,047
Freeport-McMoRan Inc., Senior Notes		4.625	%		8/1/30		5,720,000		6,024,447
Freeport-McMoRan Inc., Senior Notes		5.400	%		11/14/34		1,290,000		1,429,481
Freeport-McMoRan Inc., Senior Notes		5.450	%		3/15/43		19,502,000		21,659,701
Glencore Finance Canada Ltd., Senior Notes		6.000	%		11/15/41		2,120,000		2,603,338	(a)
Glencore Funding LLC, Senior Notes		3.000	%		10/27/22		21,610,000		22,384,398	(a)
Glencore Funding LLC, Senior Notes		4.125	%		5/30/23		3,200,000		3,434,170	(a)
Glencore Funding LLC, Senior Notes		4.125	%		3/12/24		34,758,000		37,705,070	(a)
Glencore Funding LLC, Senior Notes		4.000	%		3/27/27		16,490,000		18,031,836	(a)
Glencore Funding LLC, Senior Notes		2.500	%		9/1/30		9,670,000		9,426,434	(a)
Southern Copper Corp., Senior Notes		5.250	%		11/8/42		24,800,000		31,324,437
Teck Resources Ltd., Senior Notes		6.000	%		8/15/40		641,000		728,016
Vale Overseas Ltd., Senior Notes		6.875	%		11/21/36		6,581,000		8,575,273
Yamana Gold Inc., Senior Notes		4.625	%		12/15/27		10,350,000		11,241,561
Total Metals & Mining									306,878,960

See Notes to Schedule of Investments.

    50     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Paper & Forest Products - 0.0%††
Resolute Forest Products Inc., Senior Notes		5.875	%		5/15/23		7,770,000	$	7,584,647
Suzano Austria GmbH, Senior Notes		3.750	%		1/15/31		4,810,000		4,827,797
Total Paper & Forest Products									12,412,444
TOTAL MATERIALS									360,206,354
REAL ESTATE - 0.1%
Equity Real Estate Investment Trusts (REITs) - 0.1%
CoreCivic Inc., Senior Notes		4.750	%		10/15/27		580,000		491,930
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer Inc., Senior Notes		4.500	%		1/15/28		340,000		347,585
WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes		3.750	%		9/17/24		23,980,000		25,217,053	(a)
WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes		4.750	%		9/17/44		600,000		608,005	(a)
TOTAL REAL ESTATE									26,664,573
UTILITIES - 0.6%
Electric Utilities - 0.6%
Berkshire Hathaway Energy Co., Senior Notes		6.125	%		4/1/36		156,000		222,946
Duke Energy Carolinas LLC, Secured Bonds		5.300	%		2/15/40		3,000,000		4,254,428
Duke Energy Ohio Inc., Secured Bonds		3.650	%		2/1/29		7,740,000		8,999,553
Duke Energy Progress LLC, Secured Bonds		2.800	%		5/15/22		400,000		413,602
Exelon Corp., Senior Notes		5.625	%		6/15/35		5,126,000		6,816,048
FirstEnergy Corp., Senior Notes		4.250	%		3/15/23		18,500,000		19,643,598
FirstEnergy Corp., Senior Notes		1.600	%		1/15/26		5,780,000		5,751,346
FirstEnergy Corp., Senior Notes		3.900	%		7/15/27		15,802,000		17,398,901
FirstEnergy Corp., Senior Notes		7.375	%		11/15/31		56,186,000		78,873,601
FirstEnergy Corp., Senior Notes		4.850	%		7/15/47		10,344,000		12,480,716
Pacific Gas and Electric Co., Secured Bonds		1.750	%		6/16/22		21,610,000		21,641,262
Pacific Gas and Electric Co., Secured Bonds		2.100	%		8/1/27		6,640,000		6,434,807

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Electric Utilities - (continued)
Pacific Gas and Electric Co., Secured Bonds		2.500	%		2/1/31		8,320,000	$	7,941,199
Pacific Gas and Electric Co., Secured Bonds		3.300	%		8/1/40		1,720,000		1,587,372
Pacific Gas and Electric Co., Secured Bonds		3.500	%		8/1/50		4,040,000		3,665,273
Progress Energy Inc., Senior Notes		4.400	%		1/15/21		5,200,000		5,217,773
Progress Energy Inc., Senior Notes		6.000	%		12/1/39		4,800,000		6,683,649
Total Electric Utilities									208,026,074
Multi-Utilities - 0.0%††
Consolidated Edison Co. of New York Inc., Senior Notes		3.350	%		4/1/30		5,400,000		6,232,407
Consolidated Edison Co. of New York Inc., Senior Notes		3.950	%		4/1/50		4,490,000		5,504,825
Dominion Energy Inc., Senior Notes		7.000	%		6/15/38		3,600,000		5,467,128
Total Multi-Utilities									17,204,360
TOTAL UTILITIES									225,230,434
TOTAL CORPORATE BONDS & NOTES (Cost - $12,261,040,259)									13,303,370,519
MORTGAGE-BACKED SECURITIES - 19.8%
FHLMC - 3.8%
Federal Home Loan Mortgage Corp. (FHLMC)		4.000	%		10/1/25-3/1/50		177,073,580		190,897,841
Federal Home Loan Mortgage Corp. (FHLMC)		3.000	%		9/1/32-9/1/50		250,757,200		266,641,554
Federal Home Loan Mortgage Corp. (FHLMC)		5.000	%		3/1/38-3/1/50		88,096,455		96,838,759
Federal Home Loan Mortgage Corp. (FHLMC)		5.500	%		12/1/38		2,858,548		3,312,763
Federal Home Loan Mortgage Corp. (FHLMC)		3.500	%		10/1/42-3/1/50		174,572,064		186,844,669
Federal Home Loan Mortgage Corp. (FHLMC)		4.500	%		7/1/45		6,523,665		7,337,416	(b)
Federal Home Loan Mortgage Corp. (FHLMC)		3.000	%		1/1/47		8,360,620		8,806,412	(b)
Federal Home Loan Mortgage Corp. (FHLMC)		4.500	%		3/1/47-4/1/50		88,485,695		96,777,590

See Notes to Schedule of Investments.

    52     Western Asset Core Plus Bond Fund 2020 Quarterly Report

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FHLMC - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) (5 year Treasury Constant Maturity Rate + 1.286%)		2.446	%		3/1/47		8,276,826	$	8,564,325	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Gold		5.000	%		6/1/23-6/1/48		3,908,077		4,341,809
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.500	%		7/1/23-4/1/49		46,532,419		51,209,667
Federal Home Loan Mortgage Corp. (FHLMC) Gold		6.500	%		7/1/29-9/1/39		2,154,749		2,477,520
Federal Home Loan Mortgage Corp. (FHLMC) Gold		7.000	%		4/1/32-3/1/39		607,331		710,966
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.500	%		8/1/33-3/1/45		29,647,941		32,392,476
Federal Home Loan Mortgage Corp. (FHLMC) Gold		5.500	%		11/1/35		6,824		7,982
Federal Home Loan Mortgage Corp. (FHLMC) Gold		6.000	%		8/1/36-11/1/36		13,454		15,918
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.000	%		2/1/38-9/1/48		150,545,982		162,073,338
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.000	%		10/1/42-8/1/47		243,108,411		262,226,975
Total FHLMC									1,381,477,980
FNMA - 12.6%
Federal National Mortgage Association (FNMA)		4.500	%		7/1/23-9/1/57		539,406,196		596,096,550
Federal National Mortgage Association (FNMA)		6.000	%		4/1/24-2/1/41		19,712,172		23,288,183
Federal National Mortgage Association (FNMA)		2.810	%		4/1/25		3,150,000		3,420,151
Federal National Mortgage Association (FNMA)		2.500	%		6/1/28		4,705,130		4,947,099
Federal National Mortgage Association (FNMA)		6.500	%		2/1/29-5/1/40		9,224,443		10,698,752
Federal National Mortgage Association (FNMA)		3.160	%		5/1/29		5,902,277		6,798,649
Federal National Mortgage Association (FNMA)		3.040	%		6/1/29		5,250,000		6,038,235
Federal National Mortgage Association (FNMA)		7.000	%		8/1/29-2/1/39		2,889,908		3,340,607

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         53

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		7.500	%		11/1/29		1,685	$	1,976
Federal National Mortgage Association (FNMA)		2.140	%		4/1/30		1,300,000		1,405,425
Federal National Mortgage Association (FNMA)		2.260	%		4/1/30		8,728,870		9,500,670
Federal National Mortgage Association (FNMA)		2.240	%		10/1/31		4,270,000		4,645,886
Federal National Mortgage Association (FNMA)		2.400	%		10/1/31		4,337,000		4,791,119
Federal National Mortgage Association (FNMA)		2.320	%		2/1/32		3,819,000		4,149,875
Federal National Mortgage Association (FNMA)		1.850	%		4/1/32		5,600,000		5,932,013
Federal National Mortgage Association (FNMA)		1.950	%		4/1/32		4,360,000		4,618,903
Federal National Mortgage Association (FNMA)		5.000	%		7/1/33-3/1/50		236,286,560		263,821,704
Federal National Mortgage Association (FNMA)		3.500	%		9/1/33-3/1/57		925,264,211		993,200,059
Federal National Mortgage Association (FNMA)		1.500	%		10/1/35		119,300,000		122,077,454	(j)
Federal National Mortgage Association (FNMA)		2.000	%		10/1/35-10/1/50		1,173,000,000		1,215,714,991	(j)
Federal National Mortgage Association (FNMA)		5.500	%		11/1/36-9/1/56		27,683,395		32,596,426
Federal National Mortgage Association (FNMA)		3.000	%		12/1/36-8/1/50		643,648,320		686,435,495
Federal National Mortgage Association (FNMA)		6.000	%		7/1/41		8,519,347		10,326,634	(b)
Federal National Mortgage Association (FNMA)		4.000	%		4/1/42-6/1/57		474,974,725		523,957,595
Federal National Mortgage Association (FNMA)		4.000	%		7/1/47		9,834,260		10,548,117	(b)
Federal National Mortgage Association (FNMA)		4.500	%		7/1/49-8/1/49		24,684,900		26,980,229	(b)

See Notes to Schedule of Investments.

    54     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		3.000	%		10/1/49-9/1/50		23,783,938	$	25,252,354	(b)
Federal National Mortgage Association (FNMA) (Federal Reserve US 12 mo. Cumulative Average 1 Year CMT + 1.959%)		3.140	%		11/1/35		23,725		24,531	(d)
Total FNMA									4,600,609,682
GNMA - 3.4%
Government National Mortgage Association (GNMA)		7.500	%		3/15/23-9/15/31		17,599		19,200
Government National Mortgage Association (GNMA)		7.000	%		9/15/23-7/15/31		42,050		47,586
Government National Mortgage Association (GNMA)		6.500	%		4/15/28-1/15/39		2,010,582		2,312,214
Government National Mortgage Association (GNMA)		6.000	%		1/15/29-2/15/37		5,690,075		6,555,576
Government National Mortgage Association (GNMA)		8.000	%		12/15/30-1/15/31		9,380		9,620
Government National Mortgage Association (GNMA)		5.500	%		7/15/33-6/15/36		4,479,733		5,219,938
Government National Mortgage Association (GNMA)		3.000	%		9/15/42-11/15/42		34,330,275		36,019,215
Government National Mortgage Association (GNMA)		4.000	%		4/15/47-3/15/50		29,066,586		32,905,281
Government National Mortgage Association (GNMA)		3.500	%		6/15/48-5/15/50		18,362,323		19,406,491
Government National Mortgage Association (GNMA) II		5.000	%		4/20/35-4/20/50		98,603,139		107,996,245
Government National Mortgage Association (GNMA) II		6.500	%		10/20/37		1,329,861		1,543,688
Government National Mortgage Association (GNMA) II		6.000	%		9/20/38-11/20/41		3,241,031		3,727,848
Government National Mortgage Association (GNMA) II		4.500	%		1/20/40-3/20/49		236,760,366		256,079,471
Government National Mortgage Association (GNMA) II		3.500	%		6/20/44-2/20/50		121,180,989		129,172,637
Government National Mortgage Association (GNMA) II		3.000	%		3/20/45-1/20/50		50,204,442		52,881,733
Government National Mortgage Association (GNMA) II		4.000	%		3/20/45-4/20/50		193,328,870		207,950,637

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         55

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
GNMA - (continued)
Government National Mortgage Association (GNMA) II		3.000	%		1/20/46-4/20/47		21,414,507	$	22,484,955	(b)
Government National Mortgage Association (GNMA) II		2.000	%		10/1/50		118,700,000		123,327,446	(j)
Government National Mortgage Association (GNMA) II		2.500	%		10/1/50		116,000,000		121,831,718	(j)
Government National Mortgage Association (GNMA) II		3.000	%		10/1/50		111,400,000		116,650,159	(j)
Total GNMA									1,246,141,658
TOTAL MORTGAGE-BACKED SECURITIES (Cost - $7,051,922,342)									7,228,229,320
U.S. GOVERNMENT & AGENCY OBLIGATIONS - 16.8%
U.S. Government Agencies - 0.2%
Federal Home Loan Bank (FHLB), Global Bonds		5.500	%		7/15/36		2,585,000		4,028,337
Federal National Mortgage Association (FNMA)		4.500	%		3/1/50		7,518,465		8,165,572
Federal National Mortgage Association (FNMA), Notes		6.625	%		11/15/30		45,010,000		69,211,749
Total U.S. Government Agencies									81,405,658
U.S. Government Obligations - 16.6%
Department of Housing and Urban Development, Notes		2.850	%		8/1/24		4,537,000		4,963,987
Department of Housing and Urban Development, Senior Notes		2.450	%		8/1/22		9,000,000		9,364,030
U.S. Treasury Bonds		5.500	%		8/15/28		10,000		13,861
U.S. Treasury Bonds		1.125	%		8/15/40		30,000		29,505
U.S. Treasury Bonds		3.750	%		11/15/43		210,430,000		313,228,342	(k)(l)
U.S. Treasury Bonds		3.625	%		2/15/44		297,160,000		435,153,675
U.S. Treasury Bonds		2.500	%		2/15/45		56,680,000		69,928,950
U.S. Treasury Bonds		2.875	%		8/15/45		529,920,000		697,859,099	(k)
U.S. Treasury Bonds		3.125	%		5/15/48		42,580,000		59,362,508
U.S. Treasury Bonds		3.000	%		2/15/49		6,725,000		9,218,766
U.S. Treasury Bonds		2.000	%		2/15/50		139,610,800		158,436,444
U.S. Treasury Bonds		1.250	%		5/15/50		666,480,000		633,780,825
U.S. Treasury Bonds		1.375	%		8/15/50		412,670,000		405,093,635
U.S. Treasury Notes		0.125	%		6/30/22		1,410,000		1,410,110
U.S. Treasury Notes		0.125	%		7/15/23		850,000		849,469
U.S. Treasury Notes		2.875	%		9/30/23		560,000		605,500
U.S. Treasury Notes		0.375	%		4/30/25		780,000		784,738

See Notes to Schedule of Investments.

    56     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
U.S. Government Obligations - (continued)
U.S. Treasury Notes		0.250	%		5/31/25		1,015,600,000		$	1,015,798,357
U.S. Treasury Notes		0.250	%		6/30/25		586,300,000			586,139,682
U.S. Treasury Notes		0.250	%		8/31/25		2,440,000			2,438,380
U.S. Treasury Notes		0.500	%		6/30/27		493,740,000			495,687,957
U.S. Treasury Notes		0.375	%		7/31/27		128,580,000			127,957,191
U.S. Treasury Notes		0.500	%		8/31/27		9,190,000			9,217,283
U.S. Treasury Notes		0.375	%		9/30/27		266,880,000			265,274,551
U.S. Treasury Notes		3.125	%		11/15/28		5,000			6,027
U.S. Treasury Notes		0.625	%		5/15/30		271,420,000			270,656,631
U.S. Treasury Notes		0.625	%		8/15/30		380,350,000			378,477,963
U.S. Treasury Strip Principal (STRIPS)		0.000	%		11/15/24		6,080,000			6,031,113
U.S. Treasury Strip Principal (STRIPS)		0.000	%		5/15/49		152,060,000			99,133,461
Total U.S. Government Obligations										6,056,902,040
TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost - $5,773,712,656)										6,138,307,698
SOVEREIGN BONDS - 8.6%
Argentina - 0.2%
Argentine Bonos del Tesoro, Bonds		18.200	%		10/3/21		446,900,000	ARS		2,500,739	(f)
Argentine Bonos del Tesoro, Bonds		16.000	%		10/17/23		70,110,000	ARS		280,158	(f)
Argentine Republic Government International Bond, Senior Notes		1.000	%		7/9/29		5,149,408			2,361,004
Argentine Republic Government International Bond, Senior Notes		0.125	%		7/9/30		59,973,058			25,338,617
Argentine Republic Government International Bond, Senior Notes		0.125	%		7/9/35		47,667,842			18,042,278
Argentine Republic Government International Bond, Senior Notes		0.125	%		7/9/41		22,200,000			8,868,900
Provincia de Buenos Aires, Senior Notes		6.500	%		2/15/23		9,210,000			3,660,975	*(a)(e)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         57

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Argentina - (continued)
Provincia de Buenos Aires, Senior Notes		9.125	%		3/16/24		1,550,000		$	627,750	*(a)(e)
Provincia de Buenos Aires, Senior Notes		7.875	%		6/15/27		7,890,000			3,116,550	*(a)(e)
Total Argentina										64,796,971
Brazil - 0.9%
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/21		497,723,000	BRL		90,310,992
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/23		339,418,000	BRL		67,147,185
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/27		156,106,000	BRL		31,634,766
Brazilian Government International Bond, Senior Notes		2.625	%		1/5/23		4,490,000			4,635,925
Brazilian Government International Bond, Senior Notes		4.625	%		1/13/28		18,440,000			20,029,436
Brazilian Government International Bond, Senior Notes		5.625	%		1/7/41		25,970,000			28,255,620
Brazilian Government International Bond, Senior Notes		5.000	%		1/27/45		34,640,000			35,048,579
Brazilian Government International Bond, Senior Notes		5.625	%		2/21/47		52,790,000			57,635,858
Total Brazil										334,698,361
China - 1.1%
China Government Bond, Senior Notes		3.380	%		11/21/24		115,500,000	CNH		17,557,536	(m)
China Government Bond, Senior Notes		3.390	%		5/21/25		59,000,000	CNH		8,986,005	(m)
China Government Bond, Senior Notes		3.310	%		11/30/25		273,500,000	CNH		41,592,570	(m)
China Government Bond, Senior Notes		3.290	%		5/23/29		2,187,000,000	CNY		323,524,349
Total China										391,660,460

See Notes to Schedule of Investments.

    58     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Colombia - 0.1%
Colombia Government International Bond, Senior Notes		5.625	%		2/26/44		19,220,000	$	23,967,532
Egypt - 0.0%††
Egypt Government International Bond, Senior Notes		5.577	%		2/21/23		15,630,000		16,098,275	(a)
Indonesia - 0.8%
Indonesia Government International Bond, Senior Notes		4.875	%		5/5/21		510,000		523,214	(m)
Indonesia Government International Bond, Senior Notes		3.750	%		4/25/22		24,750,000		25,811,280	(m)
Indonesia Government International Bond, Senior Notes		3.750	%		4/25/22		370,000		385,866	(a)
Indonesia Government International Bond, Senior Notes		5.375	%		10/17/23		7,620,000		8,606,964	(m)
Indonesia Government International Bond, Senior Notes		3.850	%		7/18/27		10,410,000		11,733,338	(a)
Indonesia Government International Bond, Senior Notes		3.500	%		1/11/28		3,010,000		3,297,851
Indonesia Government International Bond, Senior Notes		4.625	%		4/15/43		5,050,000		5,936,978	(m)
Indonesia Government International Bond, Senior Notes		5.125	%		1/15/45		22,340,000		28,190,696	(a)
Indonesia Government International Bond, Senior Notes		5.125	%		1/15/45		3,610,000		4,555,435	(m)
Indonesia Government International Bond, Senior Notes		5.250	%		1/8/47		23,930,000		31,099,515	(a)
Indonesia Government International Bond, Senior Notes		4.750	%		7/18/47		3,900,000		4,765,285	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         59

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Indonesia - (continued)
Indonesia Government International Bond, Senior Notes		4.350	%		1/11/48		28,860,000		$	33,404,793
Indonesia Government International Bond, Senior Notes		3.700	%		10/30/49		3,160,000			3,399,896
Indonesia Treasury Bond, Senior Notes		7.000	%		5/15/27		1,675,317,000,000	IDR		116,303,929
Indonesia Treasury Bond, Senior Notes		7.500	%		6/15/35		279,479,000,000	IDR		18,951,231
Total Indonesia										296,966,271
Israel - 0.1%
Israel Government International Bond, Senior Notes		2.750	%		7/3/30		14,340,000			15,896,607
Israel Government International Bond, Senior Notes		3.875	%		7/3/50		7,670,000			9,242,350
Total Israel										25,138,957
Italy - 1.2%
Italy Buoni Poliennali Del Tesoro, Senior Notes		2.300	%		10/15/21		363,560,000	EUR		437,744,785	(m)
Kenya - 0.0%††
Kenya Government International Bond, Senior Notes		6.875	%		6/24/24		7,780,000			7,932,644	(m)
Kenya Government International Bond, Senior Notes		7.250	%		2/28/28		6,600,000			6,522,285	(a)
Total Kenya										14,454,929
Kuwait - 0.1%
Kuwait International Government Bond, Senior Notes		3.500	%		3/20/27		24,270,000			27,364,425	(a)
Mexico - 1.9%
Mexican Bonos, Bonds		10.000	%		12/5/24		324,780,000	MXN		17,470,686
Mexican Bonos, Bonds		8.000	%		11/7/47		6,679,000,000	MXN		334,084,417
Mexican Bonos, Senior Notes		8.500	%		5/31/29		2,067,380,000	MXN		110,644,543
Mexican Bonos, Senior Notes		7.750	%		11/23/34		381,940,000	MXN		19,378,642
Mexican Bonos, Senior Notes		7.750	%		11/13/42		2,811,886,200	MXN		137,808,684
Mexico Government International Bond, Senior Notes		4.350	%		1/15/47		18,650,000			19,434,139

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Mexico - (continued)
Mexico Government International Bond, Senior Notes		4.600	%		2/10/48		28,480,000	$	30,453,522
Mexico Government International Bond, Senior Notes		5.750	%		10/12/2110		9,190,000		10,676,896
Total Mexico									679,951,529
Nigeria - 0.0%††
Nigeria Government International Bond, Senior Notes		6.500	%		11/28/27		8,130,000		7,768,052	(a)
Nigeria Government International Bond, Senior Notes		7.143	%		2/23/30		9,270,000		8,831,807	(a)
Total Nigeria									16,599,859
Panama - 0.1%
Panama Government International Bond, Senior Notes		2.252	%		9/29/32		26,170,000		26,431,700
Panama Government International Bond, Senior Notes		4.500	%		4/1/56		8,130,000		10,223,475
Total Panama									36,655,175
Peru - 0.2%
Peruvian Government International Bond, Senior Notes		2.783	%		1/23/31		26,540,000		28,762,725
Peruvian Government International Bond, Senior Notes		6.550	%		3/14/37		2,330,000		3,531,243
Peruvian Government International Bond, Senior Notes		5.625	%		11/18/50		14,280,000		22,802,233
Total Peru									55,096,201
Poland - 0.1%
Republic of Poland Government International Bond, Senior Notes		4.000	%		1/22/24		34,880,000		38,901,838
Qatar - 0.3%
Qatar Government International Bond, Senior Notes		4.000	%		3/14/29		22,950,000		26,879,958	(a)

See Notes to Schedule of Investments.

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WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Qatar - (continued)
Qatar Government International Bond, Senior Notes		4.817	%		3/14/49		52,690,000		$	71,117,010	(a)
Qatar Government International Bond, Senior Notes		4.400	%		4/16/50		13,490,000			17,402,303	(a)
Total Qatar										115,399,271
Russia - 1.2%
Russian Federal Bond - OFZ		7.000	%		1/25/23		1,326,230,000	RUB		17,896,979
Russian Federal Bond - OFZ		7.000	%		8/16/23		3,299,070,000	RUB		44,843,916
Russian Federal Bond - OFZ		7.750	%		9/16/26		256,110,000	RUB		3,645,295
Russian Federal Bond - OFZ		8.150	%		2/3/27		2,696,040,000	RUB		39,175,031
Russian Federal Bond - OFZ		7.050	%		1/19/28		6,370,818,000	RUB		87,299,105
Russian Federal Bond - OFZ		6.900	%		5/23/29		6,829,060,000	RUB		92,608,223
Russian Federal Bond - OFZ		7.650	%		4/10/30		5,213,630,000	RUB		74,244,158
Russian Federal Bond - OFZ		7.250	%		5/10/34		309,130,000	RUB		4,298,540
Russian Federal Bond - OFZ		7.700	%		3/16/39		5,422,870,000	RUB		79,523,330
Total Russia										443,534,577
United Arab Emirates - 0.3%
Abu Dhabi Government International Bond, Senior Notes		2.500	%		10/11/22		26,930,000			27,905,835	(a)
Abu Dhabi Government International Bond, Senior Notes		3.125	%		9/30/49		82,500,000			88,539,083	(a)
Abu Dhabi Government International Bond, Senior Notes		3.875	%		4/16/50		5,400,000			6,615,000	(a)
Total United Arab Emirates										123,059,918
Uruguay - 0.0%††
Uruguay Government International Bond, Senior Notes		7.875	%		1/15/33		1			2
TOTAL SOVEREIGN BONDS (Cost - $3,317,609,841)										3,142,089,336
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - 6.6%
Alternative Loan Trust, 2006-6CB 1A4		5.500	%		5/25/36		4,359,989			4,302,597
Alternative Loan Trust, 2006-18CB A6 (-4.000 x 1 mo. USD LIBOR + 28.600%)		28.007	%		7/25/36		6,480,465			11,159,745	(d)

See Notes to Schedule of Investments.

    62     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Alternative Loan Trust, 2006-23CB 2A6, PAC (-4.000 x 1 mo. USD LIBOR + 28.400%)		27.807	%		8/25/36		2,706,730	$	4,248,487	(d)
Alternative Loan Trust, 2006-43CB 1A10		6.000	%		2/25/37		4,688,026		3,616,985
Alternative Loan Trust, 2006-43CB 3A3, IO (-1.000 x 1 mo. USD LIBOR + 6.630%)		6.482	%		2/25/37		14,036,978		3,754,057	(d)
Alternative Loan Trust, 2006-OA9 2A1B (1 mo. USD LIBOR + 0.200%)		0.356	%		7/20/46		387,135		293,848	(d)
Banc of America Funding Trust, 2015-R2 3A1 (1 mo. USD LIBOR + 0.260%)		0.408	%		4/29/37		1,689,588		1,692,780	(a)(d)
Banc of America Funding Trust, 2015-R2 3A2 (1 mo. USD LIBOR + 0.260%)		0.408	%		4/29/37		25,428,000		24,635,320	(a)(d)
BBCCRE Trust, 2015-GTP E		4.715	%		8/10/33		33,260,000		30,012,746	(a)(d)
BBCMS Trust, 2018-CBM D (1 mo. USD LIBOR + 2.391%)		2.543	%		7/15/37		16,390,000		14,426,745	(a)(d)
BCAP LLC Trust, 2010-RR9 6A2		6.000	%		10/26/35		14,149,561		13,586,508	(a)(d)
Bear Stearns Asset Backed Securities I Trust, 2004-AC6 A1		5.750	%		11/25/34		2,636,338		2,413,819
Bear Stearns Asset Backed Securities I Trust, 2006-AC4 A2 (-4.333 x 1 mo. USD LIBOR + 33.583%)		32.941	%		7/25/36		2,405,305		3,623,903	(d)
Bear Stearns Mortgage Funding Trust, 2007-AR2 A1 (1 mo. USD LIBOR + 0.170%)		0.318	%		3/25/37		12,557,975		11,304,060	(d)
Benchmark Mortgage Trust, 2020-IG1 AS		2.909	%		9/15/43		28,980,000		31,330,208	(d)
BHMS Mortgage Trust, 2018- MZB (1 mo. USD LIBOR + 6.637%)		6.789	%		7/10/21		93,060,000		74,399,767	(a)(d)
BX Commercial Mortgage Trust, 2019-XL A (1 mo. USD LIBOR + 0.920%)		1.072	%		10/15/36		15,036,877		15,068,380	(a)(d)
Chevy Chase Funding LLC Mortgage-Backed Certificates Series, 2005-4A A1 (1 mo. USD LIBOR + 0.200%)		0.348	%		10/25/36		325,135		302,578	(a)(d)

See Notes to Schedule of Investments.

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WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
CHT Mortgage Trust, 2017- CSMO A (1 mo. USD LIBOR + 0.930%)		1.082	%		11/15/36		17,095,000	$	16,567,611	(a)(d)
Citigroup Commercial Mortgage Trust, 2014-GC25 AS		4.017	%		10/10/47		2,800,000		3,071,414
Citigroup Commercial Mortgage Trust, 2017-P7 B		4.137	%		4/14/50		9,194,000		10,244,276	(d)
Citigroup Mortgage Loan Trust, 2006-AR9 1A4 (1 mo. USD LIBOR + 0.240%)		0.388	%		11/25/36		629,589		631,873	(d)
Citigroup Mortgage Loan Trust Inc., 2005-5 1A5		2.383	%		8/25/35		61,254		52,793	(d)
Commercial Mortgage Pass-Through Certificates, 2014-CR21 A3		3.528	%		12/10/47		546,192		592,490
Commercial Mortgage Pass-Through Certificates, 2015-DC1 C		4.451	%		2/10/48		3,070,000		2,930,513	(d)
Commercial Mortgage Trust, 2013-CR12 AM		4.300	%		10/10/46		1,723,000		1,861,698
Commercial Mortgage Trust, 2013-CR12 B		4.762	%		10/10/46		1,470,000		1,483,462	(d)
Commercial Mortgage Trust, 2013-CR12 C		5.241	%		10/10/46		730,000		716,727	(d)
Commercial Mortgage Trust, 2014-CR19 B		4.703	%		8/10/47		8,410,000		9,135,907	(d)
Commercial Mortgage Trust, 2014-CR21 C		4.573	%		12/10/47		11,948,000		11,893,439	(d)
Commercial Mortgage Trust, 2015-DC1 B		4.035	%		2/10/48		7,160,000		7,465,179	(d)
Credit Suisse Commercial Mortgage Trust, 2006-C3 AJ		6.636	%		6/15/38		1,234,768		615,038	(d)
Credit Suisse Commercial Mortgage Trust, 2006-C5 AJ		5.373	%		12/15/39		5,899,773		2,627,249
CSMC Trust, 2014-USA A2		3.953	%		9/15/37		12,520,000		12,827,724	(a)
CSMC Trust, 2014-USA E		4.373	%		9/15/37		13,470,000		9,389,374	(a)
CSMC Trust, 2015-2R 7A1		3.065	%		8/27/36		8,969,964		9,032,057	(a)(d)
CSMC Trust, 2015-4R 3A3 (1 mo. USD LIBOR + 0.310%)		0.795	%		10/27/36		47,799,752		24,946,380	(a)(d)
CSMC Trust, 2017-CHOP G (1 mo. USD LIBOR + 5.350%)		5.502	%		7/15/32		23,400,000		15,598,672	(a)(d)

See Notes to Schedule of Investments.

    64     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
CSMC Trust, 2017-TIME A		3.646	%		11/13/39		21,200,000	$	21,280,674	(a)
CSMC Trust, 2018-J1 A2		3.500	%		2/25/48		106,760,842		111,362,597	(a)(d)
CSMC Trust, 2019-RIO A		4.764	%		12/15/21		148,347,500		137,874,270	(a)
CSMC Trust, 2020-4R 1A1 (1 mo. USD LIBOR + 3.000%)		3.154	%		6/25/47		68,768,362		69,654,236	(a)(d)
CSMC Trust, 2020-RPL3 A1		2.691	%		3/25/60		29,770,000		29,843,502	(a)(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multiclass Certificates, 2020-RR02 BX		1.666	%		8/27/28		15,503,008		1,704,484	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multiclass Certificates, 2020-RR07 AX, IO		2.468	%		9/27/28		34,072,000		5,810,873	(b)(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K016 X1, IO		1.638	%		10/25/21		7,056,300		81,967	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K091 A2		3.505	%		3/25/29		7,270,000		8,632,417
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K092 X1, IO		0.852	%		4/25/29		41,725,745		2,274,228	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K095 X1, IO		1.082	%		6/25/29		39,919,496		2,865,581	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K095 XAM, IO		1.372	%		6/25/29		6,300,000		628,564	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K099 X1, IO		1.006	%		9/25/29		20,498,851		1,416,206	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K101 X1, IO		0.949	%		10/25/29		19,973,333		1,321,352	(d)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         65

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K108 X1, IO		1.810	%		3/25/30		12,750,000	$	1,768,921	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K151 X1, IO		0.549	%		4/25/30		51,420,699		1,532,095	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K735 X1, IO		1.102	%		5/25/26		66,266,818		3,186,877	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K736 X1, IO		1.437	%		7/25/26		40,037,398		2,539,993	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K737 X1, IO		0.751	%		10/25/26		35,936,061		1,215,857	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K1517 X1, IO		1.331	%		7/25/35		41,960,000		6,129,433	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, KC05 X1, IO		1.204	%		6/25/27		11,013,591		650,159	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, KW01 X1, IO		1.107	%		1/25/26		31,491,482		1,306,046	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Reference REMIC, R007 ZA		6.000	%		5/15/36		6,047,394		7,230,243
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 2019- RR01 X, IO		1.534	%		6/25/28		22,500,000		2,381,535	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 2957 ZA, PAC		5.000	%		3/15/35		9,240,897		10,566,052

See Notes to Schedule of Investments.

    66     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3242 SC, IO (-1.000 x 1 mo. USD LIBOR + 6.290%)		6.138	%		11/15/36		1,062,705	$	251,650	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3281 AI, IO (-1.000 x 1 mo. USD LIBOR + 6.430%)		6.278	%		2/15/37		5,785,190		1,399,946	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3368 AI, IO (-1.000 x 1 mo. USD LIBOR + 6.030%)		5.878	%		9/15/37		1,583,312		357,587	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3422 AI, IO		0.250	%		1/15/38		614,360		4,281
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3621 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.230%)		6.078	%		1/15/40		2,196,877		530,802	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3639 EY		5.000	%		2/15/30		3,700,995		4,108,148
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3768 MB, PAC-1		4.000	%		12/15/39		10,634,043		11,098,406
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3947 SG, IO (-1.000 x 1 mo. USD LIBOR + 5.950%)		5.798	%		10/15/41		5,907,017		1,053,326	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3973 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.490%)		6.338	%		12/15/41		4,303,738		988,886	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4054 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.050%)		5.898	%		8/15/39		2,671,307		572,636	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4099 ST, IO (-1.000 x 1 mo. USD LIBOR + 6.000%)		5.848	%		8/15/42		1,379,005		248,500	(d)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         67

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4119 IN, IO		3.500	%		10/15/32		3,446,041	$	352,758
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4146 DI, IO		3.000	%		12/15/31		2,590,295		166,841
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4174 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.200%)		6.048	%		5/15/39		1,817,968		89,660	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4203 PS, IO,PAC (-1.000 x 1 mo. USD LIBOR + 6.250%)		6.098	%		9/15/42		2,351,658		363,477	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4239 IO, IO		3.500	%		6/15/27		2,501,649		159,426
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4298 PI, IO, PAC		4.000	%		4/15/43		1,419,446		74,004
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4415 IO, IO		2.865	%		4/15/41		4,944,281		314,577	(d)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4793 CB		3.000	%		5/15/48		25,885,419		27,247,364
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4793 CD		3.000	%		6/15/48		19,373,060		20,287,619
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4813 CJ		3.000	%		8/15/48		17,488,018		18,236,181
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 IK, IO		2.500	%		9/25/50		12,277,631		1,556,030
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 JI, IO		2.500	%		9/25/50		28,314,270		3,770,031
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5013 IN, IO		2.500	%		9/25/50		11,256,362		1,552,331
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 283 IO, IO		3.500	%		10/15/27		630,189		43,109

See Notes to Schedule of Investments.

    68     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 328 S4, IO		3.033	%		2/15/38		957,537	$	55,974	(d)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 334 S7, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.948	%		8/15/44		8,359,831		1,766,782	(d)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 353 S1, IO (-1.000 x 1 mo. USD LIBOR + 6.000%)		5.848	%		12/15/46		19,671,853		4,387,685	(d)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2018-DNA1 M2 (-1.000 x 1 mo. USD LIBOR + 1.800%)		1.948	%		7/25/30		54,586,892		53,827,769	(a)(d)
Federal National Mortgage Association (FNMA) - CAS, 2014-C03 1M1 (1 mo. USD LIBOR + 3.000%)		3.148	%		7/25/24		51,053,199		44,842,388	(d)
Federal National Mortgage Association (FNMA) - CAS, 2015-C01 2M2 (1 mo. USD LIBOR + 4.550%)		4.698	%		2/25/25		1,801,513		1,823,359	(d)
Federal National Mortgage Association (FNMA) - CAS, 2015-C03 1M2 (1 mo. USD LIBOR + 5.000%)		5.148	%		7/25/25		16,736,635		17,187,803	(a)(d)
Federal National Mortgage Association (FNMA) - CAS, 2018-C03 1M2 (1 mo. USD LIBOR + 2.150%)		2.298	%		10/25/30		3,385,334		3,334,031	(a)(d)
Federal National Mortgage Association (FNMA) - CAS, 2018-C05 1B1 (1 mo. USD LIBOR + 4.250%)		4.398	%		1/25/31		19,130,000		18,000,276	(a)(d)
Federal National Mortgage Association (FNMA) ACES, 2013-M6 1AC		3.547	%		2/25/43		2,026,843		2,299,702	(d)
Federal National Mortgage Association (FNMA) ACES, 2015-M4, X2, IO		0.476	%		7/25/22		25,109,142		124,617	(d)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Federal National Mortgage Association (FNMA) ACES, 2017-M8 A2		3.061	%		5/25/27		3,822,000	$	4,330,797	(d)
Federal National Mortgage Association (FNMA) ACES, 2018-M9 APT2		3.228	%		4/25/28		2,499,430		2,814,593	(d)
Federal National Mortgage Association (FNMA) ACES, 2019-M1 A2		3.673	%		9/25/28		51,352,256		61,169,524	(d)
Federal National Mortgage Association (FNMA) ACES, 2019-M4 A2		3.610	%		2/25/31		12,170,000		14,647,480
Federal National Mortgage Association (FNMA) ACES, 2019-M5 A2		3.273	%		2/25/29		22,830,000		26,320,328
Federal National Mortgage Association (FNMA) ACES, 2019-M6 A2		3.450	%		1/1/29		25,350,000		29,524,075
Federal National Mortgage Association (FNMA) ACES, 2019-M13 X1, IO		0.945	%		6/25/34		17,908,657		1,114,895	(d)
Federal National Mortgage Association (FNMA) ACES, 2019-M14 X1, IO		0.705	%		6/25/29		55,398,588		2,349,510	(d)
Federal National Mortgage Association (FNMA) ACES, 2019-M19 A2		2.560	%		9/25/29		18,609,611		20,661,022
Federal National Mortgage Association (FNMA) ACES, 2019-M23 3A3		2.720	%		10/25/31		7,498,482		8,139,545	(d)
Federal National Mortgage Association (FNMA) ACES, 2019-M27 A2		2.700	%		11/25/40		2,500,000		2,857,044
Federal National Mortgage Association (FNMA) ACES, 2019-M28 AV		2.232	%		2/25/27		36,592,247		39,275,184
Federal National Mortgage Association (FNMA) ACES, 2020-M6 A		2.500	%		10/25/37		3,790,362		4,045,091
Federal National Mortgage Association (FNMA) ACES, 2020-M10 X6, IO		1.497	%		8/25/28		16,000,000		1,508,845	(d)

See Notes to Schedule of Investments.

    70     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Federal National Mortgage Association (FNMA) ACES, 2020-M36 X1, IO		1.564	%		9/25/34		45,160,439	$	4,999,924	(d)
Federal National Mortgage Association (FNMA) REMIC, 2005-88 IP, IO		2.601	%		10/25/35		1,990,498		110,732	(d)
Federal National Mortgage Association (FNMA) REMIC, 2006-28 IP, IO		2.872	%		3/25/36		1,486,920		98,149
Federal National Mortgage Association (FNMA) REMIC, 2006-59 IP, IO		3.458	%		7/25/36		3,200,646		289,544	(d)
Federal National Mortgage Association (FNMA) REMIC, 2006-118 IP1, IO		0.243	%		12/25/36		3,322,788		280,333	(d)
Federal National Mortgage Association (FNMA) REMIC, 2006-118 IP2, IO		0.243	%		12/25/36		3,796,823		247,273	(d)
Federal National Mortgage Association (FNMA) REMIC, 2010-27 AS, IO (-1.000 x 1 mo. USD LIBOR + 6.480%)		6.332	%		4/25/40		1,795,201		402,040	(d)
Federal National Mortgage Association (FNMA) REMIC, 2010-123 PM, PAC		4.000	%		7/25/40		12,754,798		13,616,902
Federal National Mortgage Association (FNMA) REMIC, 2011-59 NZ		5.500	%		7/25/41		872,578		986,867
Federal National Mortgage Association (FNMA) REMIC, 2011-99 KS, IO (-1.000 x 1 mo. USD LIBOR + 6.700%)		6.552	%		10/25/26		756,379		91,203	(d)
Federal National Mortgage Association (FNMA) REMIC, 2012-28 B		6.500	%		6/25/39		804,551		883,098
Federal National Mortgage Association (FNMA) REMIC, 2012-035 SC, IO (-1.000 x 1 mo. USD LIBOR + 6.500%)		6.352	%		4/25/42		2,260,072		487,295	(d)
Federal National Mortgage Association (FNMA) REMIC, 2012-046 BA		6.000	%		5/25/42		3,382,099		3,986,540

See Notes to Schedule of Investments.

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WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2012-51 B		7.000	%		5/25/42		5,115,661	$	6,334,083
Federal National Mortgage Association (FNMA) REMIC, 2012-070 YS, IO (-1.000 x 1 mo. USD LIBOR + 6.650%)		6.502	%		2/25/41		680,916		51,952	(d)
Federal National Mortgage Association (FNMA) REMIC, 2012-074 OA, PO		0.000	%		3/25/42		334,991		320,437
Federal National Mortgage Association (FNMA) REMIC, 2012-074 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.650%)		6.502	%		3/25/42		3,797,482		726,459	(d)
Federal National Mortgage Association (FNMA) REMIC, 2012-75 AO, PO		0.000	%		3/25/42		200,446		191,585
Federal National Mortgage Association (FNMA) REMIC, 2012-75 NS, IO (-1.000 x 1 mo. USD LIBOR + 6.600%)		6.452	%		7/25/42		468,949		105,211	(d)
Federal National Mortgage Association (FNMA) REMIC, 2012-93 UI, IO		3.000	%		9/25/27		1,056,444		62,255
Federal National Mortgage Association (FNMA) REMIC, 2012-101 BI, IO		4.000	%		9/25/27		1,352,533		81,897
Federal National Mortgage Association (FNMA) REMIC, 2012-133 CS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		6.002	%		12/25/42		3,187,269		598,065	(d)
Federal National Mortgage Association (FNMA) REMIC, 2012-134 MS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		6.002	%		12/25/42		2,400,255		460,482	(d)
Federal National Mortgage Association (FNMA) REMIC, 2012-134 SK, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		6.002	%		12/25/42		7,711,709		1,654,781	(d)
Federal National Mortgage Association (FNMA) REMIC, 2013-9 BC		6.500	%		7/25/42		4,663,338		5,682,963

See Notes to Schedule of Investments.

    72     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2013-9 CB		5.500	%		4/25/42		12,772,779	$	14,789,062
Federal National Mortgage Association (FNMA) REMIC, 2013-9 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		6.002	%		3/25/42		4,131,057		756,913	(d)
Federal National Mortgage Association (FNMA) REMIC, 2013-14 IG, IO		4.000	%		3/25/43		5,291,379		636,257
Federal National Mortgage Association (FNMA) REMIC, 2013-026 HI, IO		3.000	%		4/25/32		2,991,380		106,214
Federal National Mortgage Association (FNMA) REMIC, 2013-29 QI, IO		4.000	%		4/25/43		4,861,962		629,594
Federal National Mortgage Association (FNMA) REMIC, 2013-54 BS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		6.002	%		6/25/43		6,179,812		1,358,594	(d)
Federal National Mortgage Association (FNMA) REMIC, 2013-124 SB, IO (-1.000 x 1 mo. USD LIBOR + 5.950%)		5.802	%		12/25/43		13,179,566		2,840,384	(d)
Federal National Mortgage Association (FNMA) REMIC, 2014-47 AI, IO		2.874	%		8/25/44		4,781,539		315,827	(d)
Federal National Mortgage Association (FNMA) REMIC, 2015-55 IO, IO		2.572	%		8/25/55		10,129,795		479,821	(d)
Federal National Mortgage Association (FNMA) REMIC, 2015-56 AS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		6.002	%		8/25/45		2,807,825		713,295	(d)
Federal National Mortgage Association (FNMA) REMIC, 2016-23 ST, IO (-1.000 x 1 mo. USD LIBOR + 6.000%)		5.852	%		11/25/45		16,461,119		3,553,131	(d)
Federal National Mortgage Association (FNMA) REMIC, 2016-60 QS, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.952	%		9/25/46		17,505,595		3,555,054	(d)

See Notes to Schedule of Investments.

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WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2016-61 BS, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.952	%		9/25/46		7,911,521	$	1,568,187	(d)
Federal National Mortgage Association (FNMA) REMIC, 2017-76 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.952	%		10/25/57		32,481,164		7,392,505	(d)
Federal National Mortgage Association (FNMA) REMIC, 2017-85 SC, IO (-1.000 x 1 mo. USD LIBOR + 6.200%)		6.052	%		11/25/47		11,083,174		2,205,350	(d)
Federal National Mortgage Association (FNMA) REMIC, 2020-47 GZ		2.000	%		7/25/50		12,964,608		13,042,737
Federal National Mortgage Association (FNMA) REMIC, 2020-56 DI, IO		2.500	%		8/25/50		22,406,414		3,048,057
Federal National Mortgage Association (FNMA) STRIPS, 407 41, IO		6.000	%		1/25/38		1,185,571		224,279
Federal National Mortgage Association (FNMA) STRIPS, 390 C3, IO		6.000	%		7/25/38		945,712		174,267
Federal National Mortgage Association (FNMA) STRIPS, 407 22, IO		5.000	%		1/25/39		423,509		70,895
Federal National Mortgage Association (FNMA) STRIPS, 407 23, IO		5.000	%		1/25/39		233,021		31,204	(d)
Federal National Mortgage Association (FNMA) STRIPS, 407 27, IO		5.500	%		1/25/39		196,990		28,058	(d)
Federal National Mortgage Association (FNMA) STRIPS, 407 34, IO		5.000	%		1/25/38		280,340		40,332
Federal National Mortgage Association (FNMA) STRIPS, 409 C1, IO		3.000	%		11/25/26		3,062,571		169,320
Federal National Mortgage Association (FNMA) STRIPS, 409 C2, IO		3.000	%		4/25/27		160,023		8,873

See Notes to Schedule of Investments.

    74     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Federal National Mortgage Association (FNMA) STRIPS, 409 C13, IO		3.500	%		11/25/41		4,006,285	$	358,190
Federal National Mortgage Association (FNMA) STRIPS, 409 C18, IO		4.000	%		4/25/42		2,847,689		400,037
Federal National Mortgage Association (FNMA) STRIPS, 409 C22, IO		4.500	%		11/25/39		1,174,160		177,609
Federal National Mortgage Association (FNMA) STRIPS, 20384 14, IO		5.500	%		1/25/40		496,639		85,644
First Horizon Alternative Mortgage Securities Trust, 2007-FA3 A1 (1 mo. USD LIBOR + 0.330%)		0.478	%		6/25/37		8,670,146		3,559,226	(d)
Flagstar Mortgage Trust, 2018-2 A4		3.500	%		4/25/48		24,501,467		24,929,765	(a)(d)
FREMF Mortgage Trust, 2012- K20 X2A, IO		0.200	%		5/25/45		174,750,403		452,866	(a)
GE Business Loan Trust, 2007-1A A (1 mo. USD LIBOR + 0.170%)		0.322	%		4/15/35		1,796,065		1,796,065	(a)(d)
GE Capital Commercial Mortgage Corp., 2007-C1 AJ		5.677	%		12/10/49		9,963,432		1,046,160	(d)
Government National Mortgage Association (GNMA), 2006-16 GS, IO (-1.000 x 1 mo. USD LIBOR + 6.990%)		6.834	%		4/20/36		559,148		116,402	(d)
Government National Mortgage Association (GNMA), 2007-51 SG, IO (-1.000 x 1 mo. USD LIBOR + 6.580%)		6.424	%		8/20/37		2,221,574		361,005	(d)
Government National Mortgage Association (GNMA), 2010-31 GS, IO, PAC-1 (-1.000 x 1 mo. USD LIBOR + 6.500%)		6.344	%		3/20/39		24,648		77	(d)
Government National Mortgage Association (GNMA), 2010-42 BS, IO (-1.000 x 1 mo. USD LIBOR + 6.480%)		6.324	%		4/20/40		372,257		77,804	(d)

See Notes to Schedule of Investments.

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WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Government National Mortgage Association (GNMA), 2010-42 PC, PAC-1		5.000	%		7/20/39		3,634,732	$	3,819,125
Government National Mortgage Association (GNMA), 2010-85 HS, IO, PAC (-1.000 x 1 mo. USD LIBOR + 6.650%)		6.494	%		1/20/40		167,911		14,592	(d)
Government National Mortgage Association (GNMA), 2010-86 PB, PAC-1		4.500	%		10/20/39		8,372,867		8,777,693
Government National Mortgage Association (GNMA), 2010-116 MH		5.000	%		7/20/40		24,975,471		29,533,138
Government National Mortgage Association (GNMA), 2010-118 IO, IO		0.000	%		4/16/53		842,638		8	(d)
Government National Mortgage Association (GNMA), 2010-H10 FC (1 mo. USD LIBOR + 1.000%)		1.170	%		5/20/60		449,110		455,289	(d)
Government National Mortgage Association (GNMA), 2010-H26 LF (1 mo. USD LIBOR + 0.350%)		0.505	%		8/20/58		1,197,683		1,196,322	(d)
Government National Mortgage Association (GNMA), 2010-H27 FA (1 mo. USD LIBOR + 0.380%)		0.535	%		12/20/60		297,099		296,923	(d)
Government National Mortgage Association (GNMA), 2010-H28 FE (1 mo. USD LIBOR + 0.400%)		0.555	%		12/20/60		5,384,204		5,383,990	(d)
Government National Mortgage Association (GNMA), 2011-140 AI, IO		4.000	%		10/16/26		162,749		11,156
Government National Mortgage Association (GNMA), 2011-H6 FA (1 mo. USD LIBOR + 0.450%)		0.605	%		2/20/61		1,777,131		1,779,288	(d)
Government National Mortgage Association (GNMA), 2011-H8 FG (1 mo. USD LIBOR + 0.480%)		0.635	%		3/20/61		5,365,829		5,375,665	(d)
Government National Mortgage Association (GNMA), 2011-H9 AF (1 mo. USD LIBOR + 0.500%)		0.655	%		3/20/61		4,900,409		4,911,009	(d)

See Notes to Schedule of Investments.

    76     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Government National Mortgage Association (GNMA), 2012-34 SA,IO (-1.000 x 1 mo. USD LIBOR + 6.050%)		5.894	%		3/20/42		1,459,321	$	375,321	(d)
Government National Mortgage Association (GNMA), 2012-66 CI, IO		3.500	%		2/20/38		2,277,561		69,560
Government National Mortgage Association (GNMA), 2012-81 AI, IO		3.500	%		4/20/27		1,115,336		64,192
Government National Mortgage Association (GNMA), 2012-98 SA,IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.948	%		8/16/42		2,764,553		599,576	(d)
Government National Mortgage Association (GNMA), 2012-152 IO, IO		0.712	%		1/16/54		45,926,947		1,962,054	(d)
Government National Mortgage Association (GNMA), 2013-50 IO, IO		0.189	%		10/16/48		81,576,750		1,001,934	(d)
Government National Mortgage Association (GNMA), 2013-72 IO, IO		0.468	%		11/16/47		30,386,693		683,442	(d)
Government National Mortgage Association (GNMA), 2013-107 AD		2.695	%		11/16/47		7,414,980		7,861,196	(d)
Government National Mortgage Association (GNMA), 2013-150 IA, IO		2.440	%		11/20/42		1,673,651		64,720	(d)
Government National Mortgage Association (GNMA), 2014-17 AM		2.598	%		6/16/48		2,065,165		2,161,227	(d)
Government National Mortgage Association (GNMA), 2014-117 SJ, IO, PAC (-1.000 x 1 mo. USD LIBOR + 5.600%)		5.444	%		8/20/44		515,121		101,591	(d)
Government National Mortgage Association (GNMA), 2014-160 EI, IO		4.000	%		7/16/26		3,489,237		232,002
Government National Mortgage Association (GNMA), 2014-176 IA, IO		4.000	%		11/20/44		670,738		86,495

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         77

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Government National Mortgage Association (GNMA), 2016-21 ST, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		5.994	%		2/20/46		21,796,658	$	4,878,846	(d)
Government National Mortgage Association (GNMA), 2016-84 IG, IO, PAC		4.500	%		11/16/45		4,316,304		779,099
Government National Mortgage Association (GNMA), 2016-135 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.948	%		10/16/46		6,932,503		1,933,784	(d)
Government National Mortgage Association (GNMA), 2017-8 IO, IO		0.645	%		8/16/58		36,214,235		1,828,149	(d)
Government National Mortgage Association (GNMA), 2017-28 IO, IO		0.661	%		2/16/57		28,455,673		1,502,166	(d)
Government National Mortgage Association (GNMA), 2017-41 IO, IO		0.742	%		7/16/58		23,107,902		1,246,819	(d)
Government National Mortgage Association (GNMA), 2017-111 IO, IO		0.729	%		2/16/59		11,898,858		690,557	(d)
Government National Mortgage Association (GNMA), 2017-145 IO, IO		0.661	%		4/16/57		78,402,438		3,911,568	(d)
Government National Mortgage Association (GNMA), 2017-157 IO		0.567	%		12/16/59		14,442,597		728,629	(d)
Government National Mortgage Association (GNMA), 2017-H15 KI, IO		2.306	%		7/20/67		34,414,392		4,091,871	(d)
Government National Mortgage Association (GNMA), 2017-H18 BI, IO		0.842	%		9/20/67		27,526,307		2,220,949	(d)
Government National Mortgage Association (GNMA), 2017-H20 IB, IO		1.996	%		10/20/67		13,934,510		1,396,050	(d)
Government National Mortgage Association (GNMA), 2017-H22 IC, IO		1.956	%		11/20/67		4,102,664		414,700	(d)

See Notes to Schedule of Investments.

    78     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Government National Mortgage Association (GNMA), 2018-37 QA		2.750	%		3/20/48		7,697,180	$	8,119,320
Government National Mortgage Association (GNMA), 2018-119 IO, IO		0.675	%		5/16/60		15,334,672		934,828	(d)
Government National Mortgage Association (GNMA), 2018-H6 PF (1 mo. USD LIBOR + 0.300%)		0.455	%		2/20/68		16,462,212		16,420,647	(d)
Government National Mortgage Association (GNMA), 2018-H7 FD (1 mo. USD LIBOR + 0.300%)		0.455	%		5/20/68		28,486,847		28,411,556	(d)
Government National Mortgage Association (GNMA), 2018-H8 KF (1 mo. USD LIBOR + 0.300%)		0.455	%		5/20/68		13,884,983		13,841,697	(d)
Government National Mortgage Association (GNMA), 2018-H13 FC (1 mo. USD LIBOR + 0.300%)		0.455	%		7/20/68		9,164,929		9,134,881	(d)
Government National Mortgage Association (GNMA), 2018-H17 FG (12 mo. USD LIBOR + 0.250%)		2.224	%		10/20/68		6,366,597		6,353,765	(d)
Government National Mortgage Association (GNMA), 2019-90 AB		3.000	%		7/20/49		10,833,297		11,298,511
Government National Mortgage Association (GNMA), 2019-123 A		3.000	%		10/20/49		11,333,560		11,979,744
Government National Mortgage Association (GNMA), 2020-47 MI, IO		3.500	%		4/20/50		23,873,725		4,028,589
Government National Mortgage Association (GNMA), 2020-47 NI, IO		3.500	%		4/20/50		7,538,854		1,315,537
Government National Mortgage Association (GNMA), 2020-123 IL, IO		2.500	%		8/20/50		8,726,500		1,197,404
Government National Mortgage Association (GNMA), 2020-123 NI, IO		2.500	%		8/20/50		25,954,041		3,596,041

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         79

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Government National Mortgage Association (GNMA), 2020-H9 FL (1 mo. USD LIBOR + 1.150%)		1.306	%		5/20/70		27,735,134	$	29,118,781	(d)
Government National Mortgage Association (GNMA), 2020-H9 NF (1 mo. USD LIBOR + 1.250%)		1.406	%		4/20/70		7,386,664		7,617,251	(d)
Government National Mortgage Association (GNMA), 2020-H12 F (1 mo. USD LIBOR + 0.500%)		0.656	%		7/20/70		3,385,198		3,400,353	(d)
Government National Mortgage Association (GNMA), 2020-H13 FA (1 mo. USD LIBOR + 0.450%)		0.606	%		7/20/70		8,202,996		8,216,801	(d)
Government National Mortgage Association (GNMA), 2020-H13 FC (1 mo. USD LIBOR + 0.450%)		0.606	%		7/20/70		4,249,540		4,255,956	(d)
Government National Mortgage Association (GNMA), 2020-H13 FM (1 mo. USD LIBOR + 0.400%)		0.556	%		8/20/70		98,226		98,241	(d)
GreenPoint Mortgage Funding Trust, 2005-AR4 1A2A (1 mo. USD LIBOR + 0.640%)		0.788	%		10/25/45		2,173,360		2,124,692	(d)
GreenPoint Mortgage Funding Trust, 2005-AR5 2A1 (1 mo. USD LIBOR + 0.560%)		0.708	%		11/25/45		13,942,265		8,888,837	(d)
GreenPoint Mortgage Funding Trust, 2006-AR3 3A1 (1 mo. USD LIBOR + 0.230%)		0.378	%		4/25/36		506,847		565,157	(d)
GS Mortgage Securities Corp. II, 2018-SRP5 A (1 mo. USD LIBOR + 1.300%)		1.452	%		9/15/31		139,880,000		112,714,185	(a)(d)
GS Mortgage Securities Corp. Trust, 2013-GC16 B		5.161	%		11/10/46		4,302,000		4,550,251	(d)
GS Mortgage Securities Trust, 2015-GC30 B		4.169	%		5/10/50		16,340,000		17,224,389	(d)
GS Mortgage Securities Trust, 2017-GS8 A4		3.469	%		11/10/50		5,490,000		6,276,040
GSR Mortgage Loan Trust, 2005-AR7 1A1		2.887	%		11/25/35		647,871		464,179	(d)
HarborView Mortgage Loan Trust, 2005-3 2A1A (1 mo. USD LIBOR + 0.480%)		0.636	%		6/19/35		3,071,325		3,001,514	(d)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
HarborView Mortgage Loan Trust, 2005-7 1A1 (11th District Cost of Funds + 1.850%)		2.532	%		6/19/45		2,128,813	$	1,256,496	(d)
HarborView Mortgage Loan Trust, 2006-2 1A		3.347	%		2/25/36		550,768		281,510	(d)
HarborView Mortgage Loan Trust, 2006-13 A (1 mo. USD LIBOR + 0.180%)		0.336	%		11/19/46		163,806		136,772	(d)
Impac CMB Trust, 2005-7 A1 (1 mo. USD LIBOR + 0.520%)		0.668	%		11/25/35		2,614,610		2,364,135	(d)
Impac CMB Trust, 2007-A A (1 mo. USD LIBOR + 0.500%)		0.648	%		5/25/37		6,380,102		6,238,325	(a)(d)
IndyMac INDX Mortgage Loan Trust, 2005-AR13 1A1		3.186	%		8/25/35		147,919		111,974	(d)
Jefferies Resecuritization Trust, 2015-R1 A2 (1 mo. USD LIBOR + 0.140%)		0.315	%		12/26/36		18,386,177		12,271,560	(a)(d)
JPMBB Commercial Mortgage Securities Trust, 2013-C14 B		4.859	%		8/15/46		4,000,000		4,176,457	(d)
JPMBB Commercial Mortgage Securities Trust, 2013-C17 B		5.055	%		1/15/47		1,602,000		1,715,492	(d)
JPMBB Commercial Mortgage Securities Trust, 2014-C25 AS		4.065	%		11/15/47		5,930,000		6,520,538
JPMBB Commercial Mortgage Securities Trust, 2015-C30 B		4.410	%		7/15/48		19,921,000		21,032,020	(d)
JPMBB Commercial Mortgage Securities Trust, 2015-C31 B		4.773	%		8/15/48		10,543,000		11,637,241	(d)
JPMDB Commercial Mortgage Securities Trust, 2017-C5 A5		3.694	%		3/15/50		620,000		710,104
JPMorgan Chase Commercial Mortgage Securities Trust, 2006-LDP7 AJ		6.273	%		4/17/45		4,576,420		2,196,681	(d)
JPMorgan Chase Commercial Mortgage Securities Trust, 2007-CB19 AJ		6.068	%		2/12/49		3,808,445		2,010,478	(d)
JPMorgan Chase Commercial Mortgage Securities Trust, 2007-LD12 AJ		6.711	%		2/15/51		988,468		929,632	(d)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
JPMorgan Chase Commercial Mortgage Securities Trust, 2015-FL7 D (1 mo. USD LIBOR + 3.750%)		3.902	%		5/15/28		11,407,035	$	11,265,318	(a)(d)
JPMorgan Mortgage Trust, 2018-3 A1		3.500	%		9/25/48		29,399,675		30,297,129	(a)(d)
JPMorgan Mortgage Trust, 2018-4 A1		3.500	%		10/25/48		23,295,449		24,001,790	(a)(d)
JPMorgan Mortgage Trust, 2018-5 A1		3.500	%		10/25/48		34,328,418		35,342,448	(a)(d)
JPMorgan Resecuritization Trust, 2015-1 4A1 (1 mo. USD LIBOR + 0.300%)		0.456	%		9/27/36		4,850,700		4,763,197	(a)(d)
JPMorgan Resecuritization Trust, 2015-1 4A2		0.600	%		9/27/36		13,808,267		9,260,121	(a)(d)
Legacy Mortgage Asset Trust, 2019-GS7 A1, Step Bond		3.250	%		11/25/59		70,768,092		70,892,432	(a)
Lehman Mortgage Trust, 2006-7 3A4,IO(-1.000x1mo. USD LIBOR + 7.150%)		7.002	%		11/25/36		6,855,572		2,477,374	(d)
Magnolia Finance XI DAC, 2019-2 A (1 mo. USD LIBOR + 2.750%)		2.898	%		7/31/21		4,873,928		4,901,348	(a)(d)
MASTR Adjustable Rate Mortgages Trust, 2004-6 5A1		3.913	%		7/25/34		292,055		270,346	(d)
MASTR Adjustable Rate Mortgages Trust, 2006-OA1 1A1 (1 mo. USD LIBOR + 0.210%)		0.358	%		4/25/46		139,147		125,047	(d)
MASTR Reperforming Loan Trust, 2005-1 1A1		6.000	%		8/25/34		1,536,537		1,206,547	(a)
MASTR Reperforming Loan Trust, 2005-1 1A3		7.000	%		8/25/34		2,092,527		1,836,333	(a)
MASTR Reperforming Loan Trust, 2005-2 1A1F (1 mo. USD LIBOR + 0.350%)		0.498	%		5/25/35		2,185,889		1,209,045	(a)(d)
ML-CFC Commercial Mortgage Trust, 2007-5 AJ		5.450	%		8/12/48		3,406,807		2,000,691	(d)
ML-CFC Commercial Mortgage Trust, 2007-5 AJFL		5.450	%		8/12/48		537,969		315,928	(a)(d)
ML-CFC Commercial Mortgage Trust, 2007-9 AJ		6.072	%		9/12/49		1,902,882		727,834	(d)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Morgan Stanley Capital I Trust, 2007-IQ13 AJ		5.438	%		3/15/44		109,440	$	109,396
Morgan Stanley Mortgage Loan Trust, 2004-5AR 2A		3.249	%		7/25/34		10,639		10,531	(d)
Morgan Stanley Mortgage Loan Trust, 2005-3AR 2A2		3.208	%		7/25/35		1,020,273		972,485	(d)
Morgan Stanley Resecuritization Trust, 2015-R3 7A1 (Federal Reserve U.S. 12 mo. Cumulative Avg 1 Year CMT + 0.770%)		1.941	%		4/26/47		8,172,931		8,132,551	(a)(d)
Mortgage Loan Resecuritization Trust, 2009-RS1 A85 (1 mo. USD LIBOR + 0.340%)		0.495	%		4/16/36		46,623,629		41,456,146	(a)(d)
Multifamily Trust, 2016-1 B		13.246	%		4/25/46		2,826,619		3,212,252	(a)(d)
New Residential Mortgage Loan Trust, 2019-3A A1A		3.750	%		11/25/58		48,312,252		51,997,462	(a)(d)
Nomura Asset Acceptance Corp. Alternative Loan Trust Series, 2005-AP2 A5		5.476	%		5/25/35		62,953		43,853
Nomura Resecuritization Trust, 2015-5R 3A5 (1 mo. USD LIBOR + 0.260%)		0.349	%		2/26/46		9,408,370		7,216,497	(a)(d)
Prime Mortgage Trust, 2006-1 3A2, IO (-1.000x1mo. USD LIBOR + 7.150%)		7.002	%		6/25/36		11,536,524		2,882,826	(d)
Prime Mortgage Trust, 2006-DR1 2A2		6.000	%		5/25/35		27,499,176		22,964,749	(a)
RAMP Trust, 2004-SL4 A5		7.500	%		7/25/32		457,216		301,411
RAMP Trust, 2005-SL1 A7		8.000	%		5/25/32		228,593		184,032
RBSGC Mortgage Loan Trust, 2007-B 1A4 (1 mo. USD LIBOR + 0.450%)		0.598	%		1/25/37		7,192,644		2,559,618	(d)
RBSSP Resecuritization Trust, 2009-12 9A2		3.655	%		3/25/36		7,674,956		6,781,290	(a)(d)
Redwood Funding Trust, 2019-1 PT		4.213	%		9/27/24		38,130,564		38,491,622	(a)
Reperforming Loan REMIC Trust, 2006-R2 AS, IO		5.701	%		7/25/36		11,950,635		1,479,266	(a)(d)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Residential Asset Securitization Trust, 2004-A21A3, PAC (1 mo. USD LIBOR + 0.400%)		0.548	%		5/25/34		9,452	$	8,974	(d)
Rosslyn Portfolio Trust, 2017-ROSS A (1 mo. USD LIBOR + 0.950%)		1.939	%		6/15/33		26,891,722		26,511,083	(a)(d)
Shops at Crystals Trust, 2016-CSTL A		3.126	%		7/5/36		11,160,000		11,154,527	(a)
Structured Adjustable Rate Mortgage Loan Trust, 2004-8 1A1		3.349	%		7/25/34		755		771	(d)
Structured Asset Mortgage Investments II Trust, 2006-AR6 1A1 (1 mo. USD LIBOR + 0.180%)		0.328	%		7/25/46		119,535		101,629	(d)
Structured Asset Mortgage Investments Trust, 2003-AR1 A1 (1 mo. USD LIBOR + 0.740%)		0.896	%		10/19/33		74,041		70,836	(d)
Structured Asset Securities Corp. Mortgage Loan Trust, 2002-9 A2 (1 mo. USD LIBOR + 0.600%)		0.748	%		10/25/27		3,324		3,326	(d)
SunTrust Alternative Loan Trust, 2006-1F 3A (1 mo. USD LIBOR + 0.350%)		0.498	%		4/25/36		17,585,460		3,128,216	(d)
UBS Commercial Mortgage Trust, 2017-C1 A4		3.460	%		6/15/50		5,440,000		6,081,637
UBS Commercial Mortgage Trust, 2017-C3 A4		3.426	%		8/15/50		6,000,000		6,774,514
Wachovia Bank Commercial Mortgage Trust, 2007-C33 AJ		5.843	%		2/15/51		6,881,594		5,365,731	(d)
WaMu Mortgage Pass-Through Certificates Series Trust, 2003-AR9 1A7		2.790	%		9/25/33		6,861		6,757	(d)
WaMu Mortgage Pass-Through Certificates Trust, 2005-AR15 A1C3 (1 mo. USD LIBOR + 0.480%)		0.628	%		11/25/45		22,605,349		14,362,577	(d)
Waterfall Commercial Mortgage Trust, 2015-SBC5 A		4.104	%		9/14/22		8,066,804		7,964,483	(a)(d)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(n) - (continued)
Wells Fargo Alternative Loan Trust, 2007-PA1 A12, IO (-1.000 x 1 mo. USD LIBOR + 5.460%)		5.312	%		3/25/37		11,332,393	$	1,806,995	(d)
Wells Fargo Alternative Loan Trust, 2007-PA2 2A1 (1 mo. USD LIBOR + 0.430%)		0.578	%		6/25/37		3,704,790		2,971,637	(d)
Wells Fargo Commercial Mortgage Trust, 2013-LC12 B		4.410	%		7/15/46		450,000		425,454	(d)
Wells Fargo Commercial Mortgage Trust, 2014-LC18 AS		3.808	%		12/15/47		5,630,000		6,164,195
Wells Fargo Commercial Mortgage Trust, 2017-C41 XA, IO		1.363	%		11/15/50		31,635,003		2,107,979	(d)
Wells Fargo Commercial Mortgage Trust, 2018-C44 A5		4.212	%		5/15/51		7,530,000		8,891,996
WFRBS Commercial Mortgage Trust, 2012-C7 XA, IO		1.470	%		6/15/45		172,089		2,501	(a)(d)
WFRBS Commercial Mortgage Trust, 2013-C14 D		4.106	%		6/15/46		3,030,000		2,375,791	(a)(d)
WFRBS Commercial Mortgage Trust, 2014-C19 B		4.723	%		3/15/47		270,000		289,308	(d)
WFRBS Commercial Mortgage Trust, 2014-C19 XA, IO		1.190	%		3/15/47		44,191,510		1,086,307	(d)
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost - $2,476,927,342)									2,418,724,992
SENIOR LOANS - 4.7%
COMMUNICATION SERVICES - 0.7%
Diversified Telecommunication Services - 0.2%
Level 3 Financing Inc., 2027 Term Loan B (1 mo. USD LIBOR + 1.750%)		1.897	%		3/1/27		27,467,251		26,638,317	(d)(o)(p)
Virgin Media Bristol LLC, Term Loan Facility N (1 mo. USD LIBOR + 2.500%)		2.652	%		1/31/28		39,330,528		38,298,102	(d)(o)(p)
Total Diversified Telecommunication Services									64,936,419
Entertainment - 0.0%††
Go Daddy Operating Co. LLC, Term Loan B2 (1 mo. USD LIBOR + 1.750%)		1.897	%		2/15/24		4,194,527		4,113,258	(d)(o)(p)(q)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - 0.4%
Charter Communications Operating LLC, Term Loan B1 (1 mo. USD LIBOR + 1.750%)		1.900	%		4/30/25		32,333,799	$	31,821,858	(d)(o)(p)
Charter Communications Operating LLC, Term Loan B2 (1 mo. USD LIBOR + 1.750%)		1.900	%		2/1/27		13,319,098		13,055,486	(d)(o)(p)
Diamond Sports Group LLC, Term Loan (1 mo. USD LIBOR + 3.250%)		3.400	%		8/24/26		858,666		669,760	(d)(o)(p)
Entercom Media Corp., Term Loan B2 (1 mo. USD LIBOR + 2.500%)		2.645	%		11/18/24		3,936,311		3,721,455	(d)(o)(p)
iHeartCommunications Inc., New Term Loan (1 mo. USD LIBOR + 3.000%)		3.147	%		5/1/26		10,451,742		9,939,607	(d)(o)(p)
Nexstar Broadcasting Inc., Term Loan B4 (1 mo. USD LIBOR + 2.750%)		2.905	%		9/18/26		45,683,995		44,827,420	(d)(o)(p)
Numericable U.S. LLC, USD Term Loan B12 (1 mo. USD LIBOR + 3.688%)		3.840	%		1/31/26		9,744,799		9,400,690	(d)(o)(p)
Terrier Media Buyer Inc., Term Loan (1 mo. USD LIBOR + 4.250%)		4.397	%		12/17/26		25,738,261		25,165,585	(d)(o)(p)
Univision Communications Inc., 2020 Replacement New First Lien Term Loan (1 mo. USD LIBOR + 3.750%)		4.750	%		3/16/26		16,378,762		15,973,387	(d)(o)(p)
Virgin Media Bristol LLC, Term Loan B		—			1/10/29		5,120,000		5,045,028	(q)
Ziggo Financing Partnership, Term Loan I (1 mo. USD LIBOR + 2.500%)		2.652	%		4/30/28		4,475,074		4,325,285	(d)(o)(p)
Total Media									163,945,561
Wireless Telecommunication Services - 0.1%
CSC Holdings LLC, Term Loan (1 mo. USD LIBOR + 2.500%)		2.652	%		4/15/27		5,701,350		5,543,137	(d)(o)(p)
T-Mobile USA Inc., Term Loan (1 mo. USD LIBOR + 3.000%)		3.147	%		4/1/27		22,104,600		22,114,459	(d)(o)(p)
Total Wireless Telecommunication Services									27,657,596
TOTAL COMMUNICATION SERVICES									260,652,834

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CONSUMER DISCRETIONARY - 1.0%
Auto Components - 0.1%
American Axle & Manufacturing Inc., Term Loan B		3.000	%		4/6/24		4,380,000	$	4,217,314	(d)(o)(p)
Panther BF Aggregator 2 LP, First Lien Initial Dollar Term Loan (1 mo. USD LIBOR + 3.500%)		3.647	%		4/30/26		18,414,000		17,976,667	(d)(g)(o)(p)
Total Auto Components									22,193,981
Commercial Services & Supplies - 0.0%††
Atlantic Aviation FBO Inc., Term Loan (3 mo. USD LIBOR + 3.750%)		3.900	%		12/6/25		3,684,375		3,601,477	(d)(g)(o)(p)
Diversified Consumer Services - 0.1%
Prime Security Services Borrower LLC, 2019 Refinancing Term Loan B1		4.250	%		9/23/26		34,009,873		33,745,684	(d)(o)(p)(q)
ServiceMaster Co. LLC, Term Loan D (1 mo. USD LIBOR + 1.750%)		1.938	%		11/5/26		7,281,256		7,187,204	(d)(o)(p)
Total Diversified Consumer Services									40,932,888
Hotels, Restaurants & Leisure - 0.7%
1011778 BC Unlimited Liability Co., Term Loan B4 (1 mo. USD LIBOR + 1.750%)		1.897	%		11/19/26		40,452,474		38,960,789	(d)(o)(p)
Alterra Mountain Co., Initial Term Loan (1 mo. USD LIBOR + 2.750%)		2.897	%		7/31/24		14,765,313		14,322,353	(d)(o)(p)
Aramark Services Inc., Term Loan B3 (1 mo. USD LIBOR + 1.750%)		1.897	%		3/11/25		10,448,057		10,055,169	(d)(o)(p)
Aramark Services Inc., Term Loan B4 (1 mo. USD LIBOR + 1.750%)		1.897	%		1/15/27		10,755,950		10,355,958	(d)(o)(p)
Boyd Gaming Corp., Refinancing Term Loan B		—			9/15/23		1,991,775		1,941,981	(q)
Caesars Resort Collection LLC, Term Loan B (1 mo. USD LIBOR + 2.750%)		2.897	%		12/23/24		22,789,653		21,419,106	(d)(o)(p)
Caesars Resort Collection LLC, Term Loan B1		4.647-4.772	%		7/21/25		19,330,000		18,763,902	(d)(o)(p)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Hotels, Restaurants & Leisure - (continued)
Four Seasons Hotels Ltd., Restated Term Loan (1 mo. USD LIBOR + 2.000%)		2.156	%		11/30/23		17,138,434	$	16,701,404	(d)(o)(p)(q)
Golden Nugget Inc., First Initial Term Loan (2 mo. USD LIBOR + 2.500%)		3.250	%		10/4/23		23,202,441		20,905,399	(d)(o)(p)
Hilton Worldwide Finance LLC, Refinance Term Loan B2 (1 mo. USD LIBOR + 1.750%)		1.898	%		6/22/26		32,511,279		31,504,339	(d)(o)(p)
PCI Gaming Authority, Term Loan Facility B (1 mo. USD LIBOR + 3.000%)		2.647	%		5/29/26		12,329,673		12,018,349	(d)(o)(p)
Scientific Games International Inc., Initial Term Loan B5		2.897-3.612	%		8/14/24		25,453,194		24,075,540	(d)(o)(p)
Station Casinos LLC, Term Loan Facility B1 (1 mo. USD LIBOR + 2.250%)		2.500	%		2/8/27		15,865,837		15,201,455	(d)(o)(p)
Wynn Resorts Finance LLC, Term Loan Facility A (1 mo. USD LIBOR + 1.750%)		1.900	%		9/20/24		36,625,350		34,794,082	(d)(g)(o)(p)
Total Hotels, Restaurants & Leisure									271,019,826
Specialty Retail - 0.1%
Academy Ltd., Initial Term Loan (1 mo. USD LIBOR + 4.000%)		5.000	%		7/1/22		11,542,236		11,317,162	(d)(o)(p)
BJ’s Wholesale Club Inc., Term Loan B		—			2/3/24		5,404,880		5,320,428	(q)
Michaels Stores Inc., 2018 New Replacement Term Loan B (1 mo. USD LIBOR + 2.500%)		3.500	%		1/30/23		6,969,173		6,963,946	(d)(o)(p)
Michaels Stores Inc., Term Loan B		—			9/16/27		7,361,268		7,195,640	(g)(q)
Party City Holdings Inc., 2018 Replacement Term Loan (3 mo. USD LIBOR + 2.500%)		3.250-4.100	%		8/19/22		5,134,144		4,222,834	(d)(o)(p)
Total Specialty Retail									35,020,010
TOTAL CONSUMER DISCRETIONARY									372,768,182

See Notes to Schedule of Investments.

    88     Western Asset Core Plus Bond Fund 2020 Quarterly Report

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CONSUMER STAPLES - 0.1%
Food & Staples Retailing - 0.1%
Froneri U.S. Inc., Term Loan Facility B2 (1 mo. USD LIBOR + 2.250%)		2.397	%		1/29/27		14,264,250	$	13,771,691	(d)(o)(p)
US Foods Inc., 2019 Incremental Term Loan B (1 mo. USD LIBOR + 2.000%)		2.147	%		9/13/26		14,888,840		14,304,915	(d)(o)(p)
US Foods Inc., Repriced Term Loan (1 mo. USD LIBOR + 1.750%)		1.897	%		6/27/23		18,632,559		17,988,580	(d)(o)(p)(q)
TOTAL CONSUMER STAPLES									46,065,186
FINANCIALS - 0.6%
Capital Markets - 0.1%
Edelman Financial Center LLC, First Lien Initial Term Loan (1 mo. USD LIBOR + 3.000%)		3.145	%		7/21/25		10,718,642		10,367,606	(d)(o)(p)
Finco I LLC, 2020 Term Loan (1 mo. USD LIBOR + 2.500%)		2.648	%		6/27/25		3,929,941		3,915,203	(d)(o)(p)(q)
First Eagle Holdings Inc., 2018 Refinancing Term Loan B (3 mo. USD LIBOR + 2.500%)		2.720	%		2/1/27		12,296,841		12,038,608	(d)(o)(p)
Focus Financial Partners LLC, Term Loan B3 (1 mo. USD LIBOR + 2.000%)		2.147	%		7/3/24		16,216,424		15,826,225	(d)(o)(p)
Total Capital Markets									42,147,642
Diversified Financial Services - 0.3%
Alpha Topco Ltd. - Delta 2 (Lux) SARL, USD 2018 Incremental New Facility Loan B3 (1 mo. USD LIBOR + 2.500%)		3.500	%		2/1/24		1,810,000		1,765,378	(d)(o)(p)
Citadel Securities LP, Term Loan Facility B (1 mo. USD LIBOR + 2.750%)		2.897	%		2/27/26		19,125,835		19,042,160	(d)(o)(p)
Deerfield Dakota Holding LLC, First Lien Initial Dollar Term Loan (1 mo. USD LIBOR + 3.750%)		4.750	%		4/9/27		28,737,975		28,633,196	(d)(o)(p)
Jane Street Group LLC, Dollar Term Loan (1 mo. USD LIBOR + 3.000%)		3.147	%		1/31/25		16,068,220		15,982,865	(d)(o)(p)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Diversified Financial Services - (continued)
Stars Group Holdings BV, USD Term Loan (3 mo. USD LIBOR + 3.500%)		3.720	%		7/10/25		569,336	$	570,166	(d)(o)(p)
TKC Holdings Inc., First Lien Initial Term Loan (3 mo. USD LIBOR + 3.750%)		4.750	%		2/1/23		4,648,551		4,382,422	(d)(o)(p)
Trans Union LLC, Term Loan B5 (1 mo. USD LIBOR + 1.750%)		1.897	%		11/16/26		12,625,024		12,349,975	(d)(o)(p)
UFC Holdings LLC, Term Loan B (3 mo. USD LIBOR + 3.250%)		4.250	%		4/29/26		23,851,187		23,567,954	(d)(o)(p)
VFH Parent LLC, Initial Term Loan (1 mo. USD LIBOR + 3.000%)		3.151	%		3/1/26		12,984,059		12,911,024	(d)(o)(p)
Total Diversified Financial Services									119,205,140
Insurance - 0.2%
AmWINS Group, Inc., First Lien Term Loan		3.750	%		1/25/24		1,855,172		1,843,192	(d)(o)(p)(q)
Asurion LLC, Fourteenth Amendment Replacement Term Loan B4 (1 mo. USD LIBOR + 3.000%)		3.147	%		8/4/22		24,985,258		24,716,666	(d)(o)(p)
Asurion LLC, New Term Loan B7 (1 mo. USD LIBOR + 3.000%)		3.147	%		11/3/24		18,201,625		17,925,342	(d)(o)(p)
Asurion LLC, Replacement Term Loan B6 (1 mo. USD LIBOR + 3.000%)		3.147	%		11/3/23		10,439,268		10,298,527	(d)(o)(p)
Total Insurance									54,783,727
TOTAL FINANCIALS									216,136,509
HEALTH CARE - 1.2%
Health Care Providers & Services - 0.8%
Air Medical Group Holdings Inc., 2018 Term Loan (3 mo. USD LIBOR + 3.250%)		4.250	%		4/28/22		7,404,543		7,388,342	(d)(o)(p)
Elanco Animal Health Inc., Term Loan B (1 mo. USD LIBOR + 1.750%)		1.905	%		8/1/27		30,411,579		29,621,425	(d)(o)(p)
EyeCare Partners LLC, First Lien Initial Delayed Draw Term Loan		—			2/18/27		2,238,108		2,117,250	(q)
EyeCare Partners LLC, First Lien Initial Term Loan (1 mo. USD LIBOR + 3.750%)		3.897	%		2/18/27		9,543,932		9,028,560	(d)(o)(p)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
Global Medical Response Inc., Term Loan		—			9/24/25		8,336,572	$	8,166,364	(q)
Grifols Worldwide Operations USA Inc., Term Loan B (1 week USD LIBOR + 2.000%)		2.100	%		11/15/27		42,247,394		41,468,436	(d)(o)(p)
HCA Inc., Term Loan B12 (1 mo. USD LIBOR + 1.750%)		1.897	%		3/13/25		6,212,725		6,198,305	(d)(o)(p)
Jaguar Holding Co. II, 2018 Term Loan (1 mo. USD LIBOR + 2.500%)		3.500	%		8/18/22		23,580,574		23,529,664	(d)(o)(p)
LifePoint Health Inc., First Lien Term Loan B (1 mo. USD LIBOR + 3.750%)		3.897	%		11/17/25		40,454,260		39,383,921	(d)(o)(p)
MPH Acquisition Holdings LLC, Initial Term Loan (3 mo. USD LIBOR + 2.750%)		3.750	%		6/7/23		33,067,273		32,580,127	(d)(o)(p)
Option Care Health Inc., First Lien Term Loan B (1 mo. USD LIBOR + 4.500%)		4.647	%		8/6/26		17,517,625		17,400,835	(d)(o)(p)
Phoenix Guarantor Inc., Term Loan B1 (1 mo. USD LIBOR + 3.250%)		3.401	%		3/5/26		23,495,349		22,986,275	(d)(o)(p)
Sotera Health Holdings LLC, First Lien Initial Term Loan (3 mo. USD LIBOR + 4.500%)		5.500	%		12/11/26		38,874,650		38,777,464	(d)(o)(p)
Total Health Care Providers & Services									278,646,968
Health Care Technology - 0.2%
AthenaHealth Inc., First Lien Term Loan B (3 mo. USD LIBOR + 4.500%)		4.750	%		2/11/26		48,453,850		47,908,744	(d)(o)(p)
Change Healthcare Holdings LLC, Closing Date Term Loan		3.500	%		3/1/24		43,187,984		42,401,833	(d)(o)(p)
Total Health Care Technology									90,310,577
Life Sciences Tools & Services - 0.0%††
Parexel International Corp., Initial Term Loan (1 mo. USD LIBOR + 2.750%)		2.897	%		9/27/24		1,000,000		961,000	(d)(o)(p)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Pharmaceuticals - 0.2%
Bausch Health Cos. Inc., First Incremental Term Loan (1 mo. USD LIBOR + 2.750%)		2.901	%		11/27/25		21,644,587	$	21,198,167	(d)(o)(p)
Bausch Health Cos. Inc., Initial Term Loan (1 mo. USD LIBOR + 3.000%)		3.151	%		6/2/25		13,873,353		13,624,784	(d)(o)(p)
Milano Acquisition Corp., Term Loan		—			8/17/27		25,460,000		25,253,138	(q)
Total Pharmaceuticals									60,076,089
TOTAL HEALTH CARE									429,994,634
INDUSTRIALS - 0.6%
Aerospace & Defense - 0.1%
Boeing Co., Term Loan (3 mo. USD LIBOR + 1.250%)		1.500-1.520	%		2/7/22		37,220,000		36,336,025	(d)(o)(p)(q)
Airlines - 0.1%
Delta Air Lines Inc., Initial Term Loan (3 mo. USD LIBOR + 4.750%)		5.750	%		4/27/23		33,525,975		33,522,153	(d)(o)(p)(q)
Delta Air Lines Inc./SkyMiles IP Ltd., Initial Term Loan		—			10/20/27		14,290,000		14,430,671	(q)
Total Airlines									47,952,824
Commercial Services & Supplies - 0.2%
Allied Universal Holdco LLC, Initial Term Loan (1 mo. USD LIBOR + 4.250%)		4.397	%		7/10/26		30,941,486		30,663,508	(d)(o)(p)
APi Group DE Inc., Initial Term Loan (1 mo. USD LIBOR + 2.500%)		2.647	%		10/1/26		19,262,659		18,901,484	(d)(o)(p)
Garda World Security Corp., First Lien Term Loan B (1 mo. USD LIBOR + 4.750%)		4.900	%		10/30/26		7,619,555		7,586,219	(d)(o)(p)
GFL Environmental Inc., 2018 Incremental Term Loan (3 mo. USD LIBOR + 3.000%)		4.000	%		5/30/25		6,532,939		6,513,634	(d)(o)(p)
Verscend Holding Corp., Term Loan B (1 mo. USD LIBOR + 4.500%)		4.647	%		8/27/25		2,977,201		2,961,074	(d)(o)(p)
Total Commercial Services & Supplies									66,625,919

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Electrical Equipment - 0.1%
Brookfield WEC Holdings Inc., Refinancing Term Loan (1 mo. USD LIBOR + 3.000%)		3.750	%		8/1/25		16,851,527	$	16,466,352	(d)(o)(p)
Road & Rail - 0.1%
Genesee & Wyoming Inc., Initial Term Loan (3 mo. USD LIBOR + 2.000%)		2.220	%		12/30/26		33,153,400		32,678,875	(d)(o)(p)
Trading Companies & Distributors - 0.0%††
BrightView Landscapes LLC, Initial Term Loan (1 mo. USD LIBOR + 2.500%)		2.688	%		8/15/25		9,354,675		9,296,208	(d)(o)(p)
Delos Finance SARL, 2018 Term Loan (3 mo. USD LIBOR + 1.750%)		1.970	%		10/6/23		5,500,000		5,390,000	(d)(o)(p)
Total Trading Companies & Distributors									14,686,208
TOTAL INDUSTRIALS									214,746,203
INFORMATION TECHNOLOGY - 0.2%
Communications Equipment - 0.0%††
CommScope Inc., Initial Term Loan (1 mo. USD LIBOR + 3.250%)		3.397	%		4/4/26		1,980,000		1,934,212	(d)(o)(p)
IT Services - 0.1%
McAfee LLC, USD Term Loan B (1 mo. USD LIBOR + 3.750%)		3.896	%		9/30/24		35,707,104		35,489,505	(d)(o)(p)
Software - 0.1%
DCert Buyer Inc., First Lien Initial Term Loan (1 mo. USD LIBOR + 4.000%)		4.147	%		10/16/26		33,372,300		33,013,548	(d)(o)(p)
MA Financeco LLC, Term Loan B3 (1 mo. USD LIBOR + 2.500%)		2.647	%		6/21/24		349,860		335,516	(d)(o)(p)
Seattle Escrow Borrower LLC, Initial Term Loan (1 mo. USD LIBOR + 2.500%)		2.647	%		6/21/24		2,362,694		2,265,970	(d)(o)(p)
Total Software									35,615,034

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Technology Hardware, Storage & Peripherals - 0.0%††
Dell International LLC, Refinancing Term Loan B1 (1 mo. USD LIBOR + 2.000%)		2.750	%		9/19/25		11,125,383	$	11,091,684	(d)(o)(p)
Western Digital Corp., New Term Loan B4 (3 mo. USD LIBOR + 1.750%)		1.906	%		4/29/23		10,954,295		10,892,677	(d)(o)(p)
Total Technology Hardware, Storage & Peripherals									21,984,361
TOTAL INFORMATION TECHNOLOGY									95,023,112
MATERIALS - 0.2%
Containers & Packaging - 0.2%
Berry Global Inc., Term Loan W (1 mo. USD LIBOR + 2.000%)		2.156	%		10/1/22		26,124,988		25,967,141	(d)(o)(p)(q)
Berry Global Inc., Term Loan X		—			1/19/24		2,104,119		2,091,406	(q)
Berry Global Inc., Term Loan Y (1 mo. USD LIBOR + 2.000%)		2.156	%		7/1/26		994,962		966,702	(d)(o)(p)
Reynolds Consumer Products LLC, Initial Term Loan (1 mo. USD LIBOR + 1.750%)		1.897	%		2/4/27		20,090,797		19,856,920	(d)(o)(p)(q)
Reynolds Group Holdings Inc., Incremental U.S. Term Loan		2.897-5.000	%		2/6/23		714,298		708,494	(d)(o)(p)
Total Containers & Packaging									49,590,663
Paper & Forest Products - 0.0%††
Asplundh Tree Expert LLC, Initial Term Loan		—			9/4/27		8,940,000		8,941,860	(q)
TOTAL MATERIALS									58,532,523
REAL ESTATE - 0.1%
Equity Real Estate Investment Trusts (REITs) - 0.1%
VICI Properties 1 LLC, Term Loan B (1 mo. USD LIBOR + 1.750%)		1.906	%		12/20/24		23,248,182		22,527,488	(d)(o)(p)
Real Estate Management & Development - 0.0%††
CityCenter Holdings LLC, Refinancing Term Loan (1 mo. USD LIBOR + 2.250%)		3.000	%		4/18/24		4,577,802		4,406,706	(d)(o)(p)
Realogy Group LLC, Extended 2025 Term Loan (1 mo. USD LIBOR + 2.250%)		3.000	%		2/7/25		3,471,077		3,337,656	(d)(o)(p)
Total Real Estate Management & Development									7,744,362
TOTAL REAL ESTATE									30,271,850
TOTAL SENIOR LOANS (Cost - $1,753,851,831)									1,724,191,033

See Notes to Schedule of Investments.

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WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
U.S. TREASURY INFLATION PROTECTED SECURITIES - 3.5%
U.S. Treasury Bonds, Inflation Indexed		2.125	%		2/15/40		75,126,916	$	115,434,509
U.S. Treasury Bonds, Inflation Indexed		2.125	%		2/15/41		49,704,552		77,430,421
U.S. Treasury Bonds, Inflation Indexed		0.750	%		2/15/42		76,539,555		96,606,604
U.S. Treasury Bonds, Inflation Indexed		1.375	%		2/15/44		68,772,237		98,172,886
U.S. Treasury Bonds, Inflation Indexed		0.750	%		2/15/45		36,672,999		46,858,497
U.S. Treasury Bonds, Inflation Indexed		1.000	%		2/15/46		66,747,850		90,394,966	(k)(l)
U.S. Treasury Bonds, Inflation Indexed		0.875	%		2/15/47		3,799,694		5,074,486
U.S. Treasury Bonds, Inflation Indexed		1.000	%		2/15/48		84,298,463		116,738,448	(l)
U.S. Treasury Bonds, Inflation Indexed		1.000	%		2/15/49		365,491,663		512,085,084	(k)(l)
U.S. Treasury Bonds, Inflation Indexed		0.250	%		2/15/50		93,584,308		110,930,808
TOTAL U.S. TREASURY INFLATION PROTECTED SECURITIES (Cost - $1,020,230,443)									1,269,726,709
						FACE AMOUNT†/ UNITS
ASSET-BACKED SECURITIES - 2.6%
Applebee’s Funding LLC, 2019-1A A2I		4.194	%		6/7/49		20,030,000		18,670,490	(a)
Avis Budget Rental Car Funding AESOP LLC, 2019-2A A		3.350	%		9/22/25		34,800,000		36,838,730	(a)
Avis Budget Rental Car Funding AESOP LLC, 2019-3A A		2.360	%		3/20/26		26,770,000		27,414,161	(a)
Bear Stearns Asset Backed Securities I Trust, 2005-CL1 A1 (1 mo. USD LIBOR + 0.500%)		0.500	%		9/25/34		1,267,813		1,216,473	(d)
Brazos Student Finance Corp., 2009-1 AS (3 mo. USD LIBOR + 2.500%)		2.725	%		12/27/39		4,439,412		4,532,048	(d)

See Notes to Schedule of Investments.

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WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
CIT Mortgage Loan Trust, 2007-1 1M1 (1 mo. USD LIBOR + 1.500%)		1.648	%		10/25/37		47,370,000	$	47,344,425	(a)(d)
CIT Mortgage Loan Trust, 2007-1 1M2 (1 mo. USD LIBOR + 1.750%)		1.898	%		10/25/37		108,930,000		93,162,339	(a)(d)
Community Funding CLO, 2015-1A A		5.750	%		11/1/27		36,638,237		39,143,742	(a)
Conseco Finance Corp., 1993-2 B		3.500	%		12/16/20		24		23	(d)
Conseco Finance Corp., 1999-3 A9		6.530	%		2/1/31		11,449,497		11,313,262	(d)
Countrywide Asset-Backed Certificates, 2006-SD4 A1 (1 mo. USD LIBOR + 0.340%)		0.488	%		12/25/36		49,922		34,798	(a)(d)
Countrywide Home Equity Loan Trust, 2006-E 2A (1 mo. USD LIBOR + 0.140%)		0.292	%		7/15/36		31,463		30,361	(d)
Countrywide Home Equity Loan Trust, 2006-HW 2A1B (1 mo. USD LIBOR + 0.150%)		0.302	%		11/15/36		409,518		359,653	(d)
Credit Suisse European Mortgage Capital Ltd., 2019-1OTF A (3 mo. USD LIBOR + 2.900%)		3.168	%		8/9/24		57,932,775		57,424,033	(a)(d)
Credit Suisse European Mortgage Capital Ltd., 2020-1OTF A		5.025	%		8/9/24		62,683,618		60,803,110	(a)(f)(g)
CWHEQ Revolving Home Equity Loan Trust, 2006-I 2A (1 mo. USD LIBOR + 0.140%)		0.292	%		1/15/37		3,806,240		3,647,252	(d)
ECMC Group Student Loan Trust, 2020-2A A (1 mo. USD LIBOR + 1.150%)		1.510	%		11/25/69		18,410,000		18,438,223	(a)(d)
EFS Volunteer No 2 LLC, 2012-1 A2 (1 mo. USD LIBOR + 1.350%)		1.498	%		3/25/36		9,968,945		10,003,477	(a)(d)
Fannie Mae Grantor Trust, 2017-T1 A		2.898	%		6/25/27		6,778,951		7,527,035
Ford Credit Floorplan Master Owner Trust, 2018-4 A		4.060	%		11/15/30		48,520,000		55,577,651

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
GMAC Mortgage Corp. Loan Trust, 2004-HE3 A2VN (1 mo. USD LIBOR + 0.500%)		0.648	%		10/25/34		2,099,710	$	2,007,990	(a)(d)
Goal Capital Funding Trust, 2005-2 A4 (3 mo. USD LIBOR + 0.200%)		0.450	%		8/25/44		32,435,997		31,679,061	(d)
Green Tree Home Improvement Loan Trust, 1996-A B2		7.400	%		2/15/26		1,518		856
GSRPM Mortgage Loan Trust, 2007-1 A (1 mo. USD LIBOR + 0.400%)		0.548	%		10/25/46		5,734,033		5,286,279	(a)(d)
Hertz Vehicle Financing II LP, 2016-2A D		5.970	%		3/25/22		10,226,000		9,890,376	(a)
Hertz Vehicle Financing II LP, 2017-1A D		6.490	%		10/25/21		24,750,000		23,943,472	(a)
HSI Asset Securitization Corp. Trust, 2007-OPT1 1A (1 mo. USD LIBOR + 0.140%)		0.288	%		12/25/36		82,027,495		69,560,735	(d)
Jimmy Johns Funding LLC, 2017-1A A2II		4.846	%		7/30/47		10,069,570		10,244,976	(a)
Long Beach Mortgage Loan Trust, 2006-9 2A3 (1 mo. USD LIBOR + 0.160%)		0.308	%		10/25/36		3,615,913		1,705,069	(d)
Morgan Stanley ABS Capital I Inc. Trust, 2003-HE3 M1 (1 mo. USD LIBOR + 1.020%)		1.168	%		10/25/33		230,135		229,591	(d)
Morgan Stanley Resecuritization Trust, 2015-R7 1BXA		8.015	%		2/26/29		18,137,842		18,117,328	(a)(d)
Navient Private Education Refi Loan Trust, 2020-GA A		1.170	%		9/16/69		7,260,000		7,276,342	(a)
Option One Mortgage Loan Trust, 2007-FXD2 1A1		5.820	%		3/25/37		30,686,764		31,807,709
Origen Manufactured Housing Contract Trust, 2006-A A2		2.408	%		10/15/37		8,866,843		8,519,405	(d)
Origen Manufactured Housing Contract Trust, 2007-A A2		3.010	%		4/15/37		11,824,174		11,215,371	(d)
Ownit Mortgage Loan Asset- Backed Certificates, 2004-1 M2 (1 mo. USD LIBOR + 1.800%)		1.948	%		7/25/35		2,507,170		2,512,192	(d)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         97

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
RAMP Series Trust, 2006-RZ4 M1 (1 mo. USD LIBOR + 0.350%)		0.498	%		10/25/36		17,250,000	$	15,839,428	(d)
RAMP Trust, 2003-RS7 MII1 (1 mo. USD LIBOR + 1.125%)		1.273	%		8/25/33		1,082,286		1,068,177	(d)
Renaissance Home Equity Loan Trust, 2003-4 A3 (1 mo. USD LIBOR + 0.620%)		0.768	%		3/25/34		5,193,687		5,117,553	(d)
Renaissance Home Equity Loan Trust, 2006-1 AF5		6.166	%		5/25/36		13,813,084		10,484,892
Residential Funding Securities Corp., 2002-RP2 A1 (1 mo. USD LIBOR + 1.500%)		1.648	%		10/25/32		1,284,574		1,252,156	(a)(d)
SBA Small Business Investment Cos., 2018-10B 1		3.548	%		9/10/28		7,678,263		8,251,570
SBA Small Business Investment Cos., 2019-10A 1		3.113	%		3/10/29		14,882,263		15,923,614
Securitized Asset Backed Receivables LLC Trust, 2006-WM3 A1 (1 mo. USD LIBOR + 0.050%)		0.198	%		10/25/36		27,880,286		13,032,787	(d)
Securitized Asset Backed Receivables LLC Trust, 2006-WM3 A2 (1 mo. USD LIBOR + 0.160%)		0.308	%		10/25/36		75,993,529		36,779,880	(d)
Securitized Asset Backed Receivables LLC Trust, 2006-WM3 A3 (1 mo. USD LIBOR + 0.220%)		0.368	%		10/25/36		38,522,131		18,991,600	(d)
SMB Private Education Loan Trust, 2015-C R		0.000	%		9/18/46		49,649		25,150,498	(a)
SoFi Professional Loan Program LLC, 2015-C R		0.000	%		8/25/36		4,200		2,888,941	(a)
Structured Asset Securities Corp. Mortgage Loan Trust, 2006-ARS1 A1 (1 mo. USD LIBOR + 0.220%)		0.368	%		2/25/36		1,092,668		44,860	(a)(d)
Structured Asset Securities Corp. Mortgage Loan Trust, 2007-BC2 A4 (1 mo. USD LIBOR + 0.150%)		0.298	%		3/25/37		24,813,983		20,116,713	(d)

See Notes to Schedule of Investments.

    98     Western Asset Core Plus Bond Fund 2020 Quarterly Report

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS			VALUE
ASSET-BACKED SECURITIES - (continued)
Structured Asset Securities Corp. Trust, 2005-SC1 1A2		6.939	%		5/25/31		5,087,238		$	4,921,419	(a)(d)
Towd Point Mortgage Trust, 2019-HY2 A1 (1 mo. USD LIBOR + 1.000%)		1.148	%		5/25/58		37,507,632			37,573,264	(a)(d)
United States Small Business Administration, 2019-20D 1		2.980	%		4/1/39		10,050,806			10,714,057
United States Small Business Administration, 2019-25G 1		2.690	%		7/1/44		9,949,908			10,903,267
TOTAL ASSET-BACKED SECURITIES (Cost - $996,630,854)										966,532,714
						SHARES
INVESTMENTS IN UNDERLYING FUNDS - 0.9%
iShares iBoxx $ Investment Grade Corporate Bond ETF (Cost - $328,397,074)							2,459,787			331,357,907
	RATE			MATURITY DATE		FACE AMOUNT†
NON-U.S. TREASURY INFLATION PROTECTED SECURITIES - 0.3%
Argentina - 0.0%††
Argentina Treasury Bond		1.000	%		8/5/21		568,015,348	ARS		3,906,675	(f)
Japan - 0.3%
Japanese Government CPI Linked Bond		0.100	%		3/10/26		9,442,781,700	JPY		89,275,092
TOTAL NON-U.S. TREASURY INFLATION PROTECTED SECURITIES (Cost - $98,804,825)										93,181,767
MUNICIPAL BONDS - 0.0%††
Missouri - 0.0%††
Missouri State HEFA Revenue, The Washington University, Taxable, Series A, Refunding (Cost - $12,440,000)		3.229	%		5/15/50		12,440,000			14,089,668

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         99

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	EXPIRATION DATE		CONTRACTS		NOTIONAL AMOUNT†		VALUE
PURCHASED OPTIONS - 0.0%††
EXCHANGE-TRADED PURCHASED OPTIONS - 0.0%††
Australian Dollar Futures, Call @ $72.00		10/9/20		185		185,000	$	53,650
Australian Dollar Futures, Put @ $73.50		10/9/20		71		71,000		134,900
Canadian Dollar Futures, Call @ $75.00		11/6/20		186		186,000		141,360
Euro Futures, Call @ $1.18		10/9/20		40		5,000,000		12,500
Euro Futures, Put @ $1.18		10/9/20		284		35,500,000		202,350
Euro Futures, Put @ $1.18		10/9/20		841		105,125,000		935,612
Euro Futures, Put @ $1.19		10/9/20		260		32,500,000		559,000
Euro Futures, Put @ $1.17		11/6/20		186		23,250,000		220,875
Euro Futures, Put @ $1.19		11/6/20		281		35,125,000		639,275
Japanese Yen Futures, Call @ $95.00		10/9/20		8		10,000		2,500
Japanese Yen Futures, Call @ $96.00		10/9/20		567		708,750		35,437
U.S. Treasury 10-Year Notes Futures, Call @ $139.50		10/23/20		662		662,000		248,250
U.S. Treasury 10-Year Notes Futures, Call @ $139.50		11/20/20		404		404,000		303,000
U.S. Treasury 10-Year Notes Futures, Put @ $139.50		10/23/20		804		804,000		276,375
U.S. Treasury 10-Year Notes Futures, Put @ $139.75		10/23/20		201		201,000		94,219
U.S. Treasury Long-Term Bonds Futures, Call @ $176.00		10/23/20		554		554,000		848,313
U.S. Treasury Long-Term Bonds Futures, Call @ $177.00		10/23/20		1,206		1,206,000		1,243,688
U.S. Treasury Long-Term Bonds Futures, Call @ $177.50		10/23/20		704		704,000		583,000
U.S. Treasury Long-Term Bonds Futures, Call @ $178.00		10/23/20		101		101,000		66,281
TOTAL EXCHANGE-TRADED PURCHASED OPTIONS (Cost - $7,336,921)								6,600,585

See Notes to Schedule of Investments.

    100     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

SECURITY	COUNTERPARTY		EXPIRATION DATE			CONTRACTS		NOTIONAL AMOUNT†		VALUE
OTC PURCHASED OPTIONS - 0.0%††
U.S. Dollar/ Canadian Dollar, Put @ 1.33CAD (Cost - $3,992,077)		Citibank N.A.		11/30/20			344,887,900		344,887,900	$	3,992,077
TOTAL PURCHASED OPTIONS (Cost - $11,328,998)											10,592,662
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $35,102,896,465)											36,640,394,325
			RATE			MATURITY DATE		FACE AMOUNT†
SHORT-TERM INVESTMENTS - 3.1%
U.S. GOVERNMENT AGENCIES - 0.1%
Federal Home Loan Bank (FHLB), Discount Notes (Cost - $23,957,125)				0.049	%		10/28/20		23,960,000		23,959,101	(r)
								SHARES
MONEY MARKET FUNDS - 3.0%
Western Asset Premier Institutional Government Reserves, Premium Shares (Cost - $1,109,079,026)				0.020	%				1,109,079,026		1,109,079,026	(s)
TOTAL SHORT-TERM INVESTMENTS (Cost - $1,133,036,151)											1,133,038,127
TOTAL INVESTMENTS - 103.3% (Cost - $36,235,932,616)											37,773,432,452
Liabilities in Excess of Other Assets - (3.3)%											(1,194,974,661	)
TOTAL NET ASSETS - 100.0%										$	36,578,457,791

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         101

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

† Face amount/notional amount denominated in U.S. dollars, unless otherwise noted.

†† Represents less than 0.1%.

* Non-income producing security.

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

(b) Securities traded on a when-issued or delayed delivery basis.

(c) Security has no maturity date. The date shown represents the next call date.

(d) Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(e) The coupon payment on this security is currently in default as of September 30, 2020.

(f) Security is valued in good faith in accordance with procedures approved by the Board of Directors (Note 1).

(g) Security is valued using significant unobservable inputs (Note 1).

(h) Value is less than $1.

(i) The maturity principal is currently in default as of September 30, 2020.

(j) This security is traded on a to-be-announced (“TBA”) basis. At September 30, 2020, the Fund held TBA securities with a total cost of $1,696,714,859.

(k) All or a portion of this security is held at the broker as collateral for open futures contracts.

(l) All or a portion of this security is held at the broker as collateral for open swap contracts.

(m) Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

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

(o) Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan.

(p) Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan.

(q) All or a portion of this loan is unfunded as of September 30, 2020. The interest rate for fully unfunded term loans is to be determined.

(r) Rate shown represents yield-to-maturity.

(s) In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Fund ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At September 30, 2020, the total market value of investments in Affiliated Companies was $1,109,079,026 and the cost was $1,109,079,026 (Note 2).

See Notes to Schedule of Investments.

    102     Western Asset Core Plus Bond Fund 2020 Quarterly Report

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Schedule of investments (unaudited) (cont’d) September 30, 2020

Abbreviation(s) used in this schedule:

ACES	— Alternative Credit Enhancement Securities
ARS	— Argentine Peso
BRL	— Brazilian Real
CAD	— Canadian Dollar
CAS	— Connecticut Avenue Securities
CLO	— Collateralized Loan Obligation
CMT	— Constant Maturity Treasury
CNH	— Chinese Offshore Yuan
CNY	— Chinese Yuan Renminbi
CPI	— Consumer Price Index
ETF	— Exchange-Traded Fund
EUR	— Euro
GTD	— Guaranteed
HEFA	— Health & Educational Facilities Authority
ICE	— Intercontinental Exchange
IDR	— Indonesian Rupiah
IO	— Interest Only
JPY	— Japanese Yen
JSC	— Joint Stock Company
LIBOR	— London Interbank Offered Rate
MXN	— Mexican Peso
OFZ	— Obligatsyi Federal’novo Zaima (Russian Federal Loan Obligation)
PAC	— Planned Amortization Class
PO	— Principal Only
REMIC	— Real Estate Mortgage Investment Conduit
RUB	— Russian Ruble
SOFR	— Secured Overnight Financing Rate
STRIPS	— Separate Trading of Registered Interest and Principal Securities
USD	— United States Dollar

SCHEDULE OF WRITTEN OPTIONS
EXCHANGE-TRADED WRITTEN OPTIONS
SECURITY	EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT†		VALUE
Australian Dollar Futures, Call		10/9/20	$	70.50		141		141,000	$	(176,250	)
Australian Dollar Futures, Call		11/6/20		72.00		233		233,000		(188,730	)
Australian Dollar Futures, Put		10/9/20		71.50		43		43,000		(16,770	)
Australian Dollar Futures, Put		11/6/20		70.00		141		141,000		(62,040	)
Australian Dollar Futures, Put		11/6/20		70.50		70		70,000		(39,900	)
Australian Dollar Futures, Put		11/6/20		71.00		186		186,000		(135,780	)
Australian Dollar Futures, Put		11/6/20		71.50		163		163,000		(151,590	)
Euro Futures, Call		10/9/20		1.17		141		17,625,000		(178,012	)
Euro Futures, Call		10/9/20		1.19		572		71,500,000		(57,200	)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         103

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Schedule of investments (unaudited) (cont’d) September 30, 2020

SCHEDULE OF WRITTEN OPTIONS (continued)

SECURITY			EXPIRATION DATE		STRIKE PRICE			CONTRACTS		NOTIONAL AMOUNT†		VALUE
Euro Futures, Call				11/6/20	$	1.18			830		103,750,000	$	(881,875	)
Euro Futures, Put				11/6/20		1.16			141		17,625,000		(100,463	)
Euro-Bund Futures, Put				10/23/20		174.00	EUR		266		26,600,000		(124,749	)
U.S. Treasury 10-Year Notes Futures, Call				10/23/20		139.75			452		452,000		(113,000	)
U.S. Treasury 10-Year Notes Futures, Call				10/23/20		140.00			3,070		3,070,000		(479,687	)
U.S. Treasury 10-Year Notes Futures, Put				10/23/20		138.50			618		618,000		(57,938	)
U.S. Treasury 10-Year Notes Futures, Put				10/23/20		139.00			923		923,000		(173,063	)
U.S. Treasury Long-Term Bonds Futures, Call				10/9/20		177.50			606		606,000		(274,594	)
U.S. Treasury Long-Term Bonds Futures, Call				10/23/20		180.00			408		408,000		(102,000	)
U.S. Treasury Long-Term Bonds Futures, Call				10/23/20		182.00			100		100,000		(9,375	)
U.S. Treasury Long-Term Bonds Futures, Call				11/20/20		178.00			314		314,000		(564,219	)
U.S. Treasury Long-Term Bonds Futures, Call				11/20/20		180.00			324		324,000		(359,437	)
U.S. Treasury Long-Term Bonds Futures, Put				10/23/20		173.00			1,329		1,329,000		(498,375	)
U.S. Treasury Long-Term Bonds Futures, Put				10/23/20		175.00			868		868,000		(745,937	)
TOTAL EXCHANGE-TRADED WRITTEN OPTIONS (Premiums received - $10,088,477)												$	(5,490,984	)
OTC WRITTEN OPTIONS
	COUNTERPARTY
U.S. Dollar/Mexican Peso, Put (Premiums received - $4,878,810)		Morgan Stanley & Co. Inc.		11/13/20		20.68	MXN		354,900,000		354,900,000	$	(1,280,763	)
TOTAL WRITTEN OPTIONS (Premiums received - $14,967,287)												$	(6,771,747	)

† Notional amount denominated in U.S. dollars, unless otherwise noted.

Abbreviation(s) used in this schedule:

EUR	— Euro
MXN	— Mexican Peso

See Notes to Schedule of Investments.

    104     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

At September 30, 2020, the Fund had the following open futures contracts:

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy:
90-Day Eurodollar		8,764		12/20	$	2,158,207,804	$	2,185,632,050	$	27,424,246
Australian Dollar		8,471		12/20		613,827,585		606,777,730		(7,049,855	)
British Pound		5,775		12/20		471,129,490		465,753,750		(5,375,740	)
Canadian Dollar		2,570		12/20		194,662,047		193,084,100		(1,577,947	)
Euro		4,066		12/20		600,139,299		596,456,788		(3,682,511	)
Euro-Bobl		239		12/20		37,888,281		37,876,736		(11,545	)
Euro-BTP		8,203		12/20		1,390,257,800		1,419,366,493		29,108,693
Euro-OAT		1,293		12/20		251,768,480		255,518,067		3,749,587
Japanese Yen		3,131		12/20		371,635,440		371,317,031		(318,409	)
Mexican Peso		7,043		12/20		159,876,476		157,939,275		(1,937,201	)
Russian Ruble		1,626		12/20		53,411,402		51,849,075		(1,562,327	)
Swiss Franc		344		12/20		46,944,478		46,771,100		(173,378	)
U.S. Treasury 2-Year Notes		6,537		12/20		1,444,014,956		1,444,421,651		406,695
U.S. Treasury 5-Year Notes		78,758		12/20		9,913,499,616		9,925,969,188		12,469,572
U.S. Treasury Long-Term Bonds		1,781		12/20		317,392,845		313,956,906		(3,435,939	)
U.S. Treasury Ultra Long-Term Bonds		8,389		12/20		1,881,905,642		1,860,785,062		(21,120,580	)
										26,913,361
Contracts to Sell:
90-Day Eurodollar		15,882		3/21		3,956,666,385		3,962,757,525		(6,091,140	)
90-Day Eurodollar		18,053		6/21		4,443,462,789		4,504,674,825		(61,212,036	)
90-Day Eurodollar		21,094		12/21		5,228,589,528		5,262,425,650		(33,836,122	)
Australian 10-Year Bonds		295		12/20		31,221,667		31,565,769		(344,102	)
Euro-Bund		14,115		12/20		2,862,422,340		2,888,154,473		(25,732,133	)
Euro-Buxl		752		12/20		190,736,977		196,333,037		(5,596,060	)
Japanese 10-Year Bonds		316		12/20		454,739,176		455,760,300		(1,021,124	)
U.S. Treasury 10-Year Notes		4,370		12/20		609,729,950		609,751,562		(21,612	)
U.S. Treasury Ultra 10-Year Notes		8,014		12/20		1,284,780,250		1,281,613,946		3,166,304

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         105

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Sell continued
United Kingdom Long Gilt Bonds		6,636		12/20	$	1,166,935,174	$	1,165,477,617	$	1,457,557
										(129,230,468	)
Net unrealized depreciation on open futures contracts									$	(102,317,107	)

At September 30, 2020, the Fund had the following open forward foreign currency contracts:

Currency Purchased		Currency Sold		Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
CAD	138,660,000	USD	101,307,004	BNP Paribas SA		10/16/20	$	2,832,066
CAD	376,470,000	USD	275,054,432	BNP Paribas SA		10/16/20		7,689,226
EUR	246,644,352	USD	285,838,298	BNP Paribas SA		10/16/20		3,435,431
USD	76,028,913	CNH	536,285,141	BNP Paribas SA		10/16/20		(2,933,220	)
USD	325,954,647	CNY	2,298,958,125	BNP Paribas SA		10/16/20		(11,196,237	)
USD	439,664,641	EUR	391,120,000	BNP Paribas SA		10/16/20		(19,055,536	)
USD	441,425,519	EUR	391,110,000	BNP Paribas SA		10/16/20		(17,282,929	)
USD	448,586,170	EUR	398,490,000	BNP Paribas SA		10/16/20		(18,777,818	)
USD	674,320,836	EUR	597,136,205	BNP Paribas SA		10/16/20		(26,022,857	)
USD	242,710,252	MXN	5,463,067,987	BNP Paribas SA		10/16/20		(3,889,028	)
CHF	43,000,000	USD	46,717,549	Citibank N.A.		10/16/20		(9,959	)
EUR	43,000,000	USD	50,889,967	Citibank N.A.		10/16/20		(457,957	)
EUR	159,128,366	USD	189,141,567	Citibank N.A.		10/16/20		(2,509,863	)
MXN	7,782,210,000	USD	344,772,727	Citibank N.A.		10/16/20		6,511,092
RUB	1,450,000,000	USD	19,196,170	Citibank N.A.		10/16/20		(567,019	)
USD	45,609,405	CHF	43,000,000	Citibank N.A.		10/16/20		(1,098,185	)
USD	12,272,790	EUR	10,300,000	Citibank N.A.		10/16/20		192,564
USD	18,005,722	GBP	14,426,610	Citibank N.A.		10/16/20		(611,151	)
USD	39,086,250	GBP	30,000,000	Citibank N.A.		10/16/20		372,638
USD	161,735,282	MXN	3,642,779,930	Citibank N.A.		10/16/20		(2,697,398	)
USD	204,350,254	MXN	4,611,470,000	Citibank N.A.		10/16/20		(3,808,456	)
ZAR	728,620,000	USD	41,514,680	Citibank N.A.		10/16/20		1,900,847
BRL	587,415,139	USD	109,321,113	Goldman Sachs Group Inc.		10/16/20		(4,769,895	)
EUR	165,417,650	USD	195,926,289	Goldman Sachs Group Inc.		10/16/20		(1,918,277	)
JPY	29,818,178,956	USD	282,560,436	Goldman Sachs Group Inc.		10/16/20		219,296

See Notes to Schedule of Investments.

    106     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
MXN	5,935,107,917		USD	259,299,573	Goldman Sachs Group Inc.		10/16/20	$	8,607,279
RUB	2,346,752,628		USD	32,404,759	Goldman Sachs Group Inc.		10/16/20		(2,254,407	)
USD	4,739,134		JPY	500,000,000	Goldman Sachs Group Inc.		10/16/20		(2,599	)
USD	272,978,640		JPY	29,318,178,956	Goldman Sachs Group Inc.		10/16/20		(5,059,358	)
USD	47,938,796		RUB	3,796,752,628	Goldman Sachs Group Inc.		10/16/20		(840,707	)
USD	42,471,511		ZAR	728,620,000	Goldman Sachs Group Inc.		10/16/20		(944,017	)
CAD	311,491,234		USD	229,541,482	JPMorgan Chase & Co.		10/16/20		4,400,588
IDR	3,684,421,854,900		USD	248,561,145	JPMorgan Chase & Co.		10/16/20		(1,311,994	)
INR	4,359,319,201		USD	57,103,998	JPMorgan Chase & Co.		10/16/20		1,884,938
USD	122,259,464		AUD	176,375,279	JPMorgan Chase & Co.		10/16/20		(4,073,740	)
USD	131,879,568		MXN	2,798,289,257	Goldman Sachs Group Inc.		11/18/20		6,044,196
MXN	2,798,289,257		USD	132,022,800	Morgan Stanley & Co. Inc.		11/18/20		(6,187,428	)
USD	180,282,325		CAD	240,100,000	Citibank N.A.		12/1/20		(67,010	)
MXN	5,463,067,987		USD	240,126,413	BNP Paribas SA		1/19/21		3,804,636
USD	46,863,216		CHF	43,000,000	Citibank N.A.		1/19/21		9,021
RUB	3,796,752,628		USD	47,456,442	Goldman Sachs Group Inc.		1/19/21		806,857
USD	283,016,358		JPY	29,818,178,956	Goldman Sachs Group Inc.		1/19/21		(198,857	)
ZAR	728,620,000		USD	42,014,762	Goldman Sachs Group Inc.		1/19/21		925,231
Total								$	(88,909,996	)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         107

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

Abbreviation(s) used in this table:

AUD	— Australian Dollar
BRL	— Brazilian Real
CAD	— Canadian Dollar
CHF	— Swiss Franc
CNH	— Chinese Offshore Yuan
CNY	— Chinese Yuan Renminbi
EUR	— Euro
GBP	— British Pound
IDR	— Indonesian Rupiah
INR	— Indian Rupee
JPY	— Japanese Yen
MXN	— Mexican Peso
RUB	— Russian Ruble
USD	— United States Dollar
ZAR	— South African Rand

At September 30, 2020, the Fund had the following open swap contracts:

OTC INTEREST RATE SWAPS

SWAP COUNTERPARTY

NOTIONAL AMOUNT*

TERMINATION DATE

PAYMENTS MADE BY THE FUND†

PAYMENTS RECEIVED BY THE FUND†

UPFRONT PREMIUMS PAID (RECEIVED)

UNREALIZED APPRECIATION

Citibank N.A.

292,400,000

BRL

1/4/27

BRL-CDI**

7.024%**

—

$

783,908

Citibank N.A.

346,800,000

BRL

1/4/27

BRL-CDI**

7.024%**

$

158,679

771,073

Citibank N.A.

370,331,000

BRL

1/4/27

BRL-CDI**

7.024%**

197,562

795,275

JPMorgan Chase & Co.

240,800,000

BRL

1/4/27

BRL-CDI**

7.044%**

—

685,024

Total

$

356,241

$

3,035,280

CENTRALLY CLEARED INTEREST RATE SWAPS
NOTIONAL AMOUNT*		TERMINATION DATE		PAYMENTS MADE BY THE FUND†	PAYMENTS RECEIVED BY THE FUND†	UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
	1,182,383,000		6/15/22	3-Month LIBOR quarterly	0.190% semi-annually	$	(4,890)		$	(442,989	)
	963,247,000		11/30/24	Daily U.S. Federal Funds Intraday Effective Rate annually	0.100% annually		567,963			(364,678	)
	898,865,000		5/15/27	0.450% semi-annually	3-Month LIBOR quarterly		(2,124,325	)		3,807,583

See Notes to Schedule of Investments.

    108     Western Asset Core Plus Bond Fund 2020 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

CENTRALLY CLEARED INTEREST RATE SWAPS (CONT’D)
NOTIONAL AMOUNT*	TERMINATION DATE		PAYMENTS MADE BY THE FUND†		PAYMENTS RECEIVED BY THE FUND†		UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
899,415,000		5/15/27		0.260% annually		Daily U.S. Federal Funds Intraday Effective Rate annually	$	(3,019,084	)	$	3,941,861
3,851,130,000MXN		7/18/29		28-Day MXN TIIE - Banxico every 28 days		7.450% every 28 days		1,435,623			20,184,414
3,847,470,000MXN		7/20/29		28-Day MXN TIIE - Banxico every 28 days		7.440% every 28 days		1,745,381			19,728,162
374,360,000		7/20/45		0.560% annually		Daily SOFR annually		3,192,610			20,307,186
163,600,000		8/19/45		0.740% annually		Daily SOFR annually		—			4,431,294
20,815,000		11/15/45		0.800% semi-annually		3-Month LIBOR quarterly		953,169			535,360
12,221,800,000JPY		5/9/46		0.641% semi-annually		6-Month JPY LIBOR semi-annually		—			(9,935,141	)
367,188,000		2/15/47		1.000% semi-annually		3-Month LIBOR quarterly		4,450,076			6,767,447
116,571,000		3/17/50		0.900% semi-annually		3-Month LIBOR quarterly		1,977,560			4,354,630
59,037,000		3/18/50		0.792% semi-annually		3-Month LIBOR quarterly		—			4,882,946
59,149,000		3/19/50		0.818% semi-annually		3-Month LIBOR quarterly		—			4,847,731
63,300,000		7/13/50		0.885% semi-annually		3-Month LIBOR quarterly		(7,900	)		4,133,704
Total							$	9,166,183		$	87,179,510

CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES - SELL PROTECTION1
REFERENCE ENTITY	NOTIONAL AMOUNT2		TERMINATION DATE		PERIODIC PAYMENTS RECEIVED BY THE FUND†	MARKET VALUE3		UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
Markit CDX.NA.HY.34 Index	$	190,200,800		6/20/25	5.000% quarterly	$	9,348,179	$	(13,872,778	)	$	23,220,957
Markit CDX.NA.HY.35 Index		588,073,500		12/20/25	5.000% quarterly		24,095,724		24,452,487			(356,763	)
Markit CDX.NA.IG.25 Index		137,411,840		12/20/20	1.000% quarterly		113,640		196,416			(82,776	)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2020 Quarterly Report         109

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2020

CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES - SELL PROTECTION1 (CONT’D)
REFERENCE ENTITY	NOTIONAL AMOUNT2		TERMINATION DATE		PERIODIC PAYMENTS RECEIVED BY THE FUND†		MARKET VALUE3		UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
Markit CDX.NA.IG.34 Index	$	5,997,299,000		6/20/25		1.000% quarterly	$	41,351,377		(15,268,963	)	$	56,620,340
Markit CDX.NA.IG.35 Index		214,290,000		12/20/25		1.000% quarterly		4,466,018		4,777,401			(311,383	)
Total	$	7,127,275,140					$	79,374,938	$	284,563		$	79,090,375

¹  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 the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities 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 recovery value of the referenced obligation or underlying securities comprising the referenced index.

²  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 occurs as defined under the terms of that particular swap agreement.

³  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 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 of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection) when 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 default or other credit event occurring as defined under the terms of the agreement.

† Percentage shown is an annual percentage rate.

* Notional amount denominated in U.S. dollars, unless otherwise noted.

** One time payment made at termination date.

Abbreviation(s) used in this table:

BRL	— Brazilian Real
BRL-CDI	— Brazil Cetip InterBank Deposit Rate
JPY	— Japanese Yen
LIBOR	— London Interbank Offered Rate
MXN	— Mexican Peso
SOFR	— Secured Overnight Financing Rate
TIIE	— Equilibrium Interbanking Interest Rate (Tasa de Intere’s Interbancaria de Equilibrio)

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

See Notes to Schedule of Investments.

    110     Western Asset Core Plus Bond Fund 2020 Quarterly Report

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

Western Asset Core Plus Bond Fund (the “Fund”) is a separate diversified investment series of Western Asset Funds, Inc. (the “Corporation”). The Corporation, a Maryland corporation, is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.

The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”).

(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 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 manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.

The Board of Directors is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Legg Mason North Atlantic Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee, pursuant to the policies adopted by the Board of Directors, is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Board of Directors. 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.

111

Notes to Schedule of Investments (unaudited) (continued)

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

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors, 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 of Directors 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 – 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.

112

Notes to Schedule of Investments (unaudited) (continued)

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

ASSETS
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Long-Term Investments†:
Corporate Bonds & Notes:
Financials		—	$	4,242,056,422	$	19,937,093	$	4,261,993,515
Other Corporate Bonds & Notes		—		9,041,377,004		—		9,041,377,004
Mortgage-Backed Securities		—		7,228,229,320		—		7,228,229,320
U.S. Government & Agency Obligations		—		6,138,307,698		—		6,138,307,698
Sovereign Bonds		—		3,142,089,336		—		3,142,089,336
Collateralized Mortgage Obligations		—		2,418,724,992		—		2,418,724,992
Senior Loans:
Consumer Discretionary		—		309,200,316		63,567,866		372,768,182
Other Senior Loans		—		1,351,422,851		—		1,351,422,851
U.S. Treasury Inflation Protected Securities		—		1,269,726,709		—		1,269,726,709
Asset-Backed Securities		—		905,729,604		60,803,110		966,532,714
Investments in Underlying Funds	$	331,357,907		—		—		331,357,907
Non-U.S. Treasury Inflation Protected Securities		—		93,181,767		—		93,181,767
Municipal Bonds		—		14,089,668		—		14,089,668
Purchased Options:
Exchange-Traded Purchased Options		6,600,585		—		—		6,600,585
OTC Purchased Options		—		3,992,077		—		3,992,077
Total Long-Term Investments		337,958,492		36,158,127,764		144,308,069		36,640,394,325
Short-Term Investments†:
U.S. Government Agencies		—		23,959,101		—		23,959,101
Money Market Funds		1,109,079,026		—		—		1,109,079,026
Total Short-Term Investments		1,109,079,026		23,959,101		—		1,133,038,127
Total Investments	$	1,447,037,518	$	36,182,086,865	$	144,308,069	$	37,773,432,452

113

Notes to Schedule of Investments (unaudited) (continued)

ASSETS (CONT’D)
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Futures Contracts	$	77,782,654		—		—	$	77,782,654
Forward Foreign Currency Contracts		—	$	49,635,906		—		49,635,906
OTC Interest Rate Swaps‡		—		3,391,521		—		3,391,521
Centrally Cleared Interest Rate Swaps		—		97,922,318		—		97,922,318
Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection		—		79,841,297		—		79,841,297
Total Other Financial Instruments	$	77,782,654	$	230,791,042		—	$	308,573,696
Total	$	1,524,820,172	$	36,412,877,907	$	144,308,069	$	38,082,006,148
LIABILITIES
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Written Options:
Exchange-Traded Written Options	$	5,490,984		—		—	$	5,490,984
OTC Written Options		—	$	1,280,763		—		1,280,763
Futures Contracts		180,099,761		—		—		180,099,761
Forward Foreign Currency Contracts		—		138,545,902		—		138,545,902
Centrally Cleared Interest Rate Swaps		—		10,742,808		—		10,742,808
Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection		—		750,922		—		750,922
Total	$	185,590,745	$	151,320,395		—	$	336,911,140

† See Schedule of Investments for additional detailed categorizations.

‡ Value includes any premium paid or received with respect to swap contracts.

2. Transactions with affiliated company

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended September 30, 2020. The following transactions were effected in such company for the period ended September 30, 2020.

114

Notes to Schedule of Investments (unaudited) (continued)

	Affiliate Value at December 31, 2019		Purchased				Sold				Realized Gain (Loss)		Interest Income		Net Increase (Decrease) in Unrealized Appreciation (Depreciation)		Affiliate Value at September 30, 2020
			Cost		Shares		Cost		Shares
Western Asset Premier Institutional Government Reserves, Premium Shares	$	785,260,328	$	10,577,273,608		10,577,273,608	$	10,253,454,910		10,253,454,910		—	$	3,403,740		—	$	1,109,079,026

115