WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CORPORATE BONDS & NOTES - 33.8%
COMMUNICATION SERVICES - 4.6%
Diversified Telecommunication Services - 1.4%
AT&T Inc., Senior Notes		2.300	%		6/1/27		140,000	$	122,568
AT&T Inc., Senior Notes		1.650	%		2/1/28		60,000		49,389
AT&T Inc., Senior Notes		4.350	%		3/1/29		1,170,000		1,095,047
AT&T Inc., Senior Notes		2.550	%		12/1/33		390,000		289,110
AT&T Inc., Senior Notes		5.350	%		9/1/40		20,000		18,099
AT&T Inc., Senior Notes		5.550	%		8/15/41		10,000		9,310
AT&T Inc., Senior Notes		4.350	%		6/15/45		68,000		52,738
AT&T Inc., Senior Notes		3.300	%		2/1/52		30,000		19,418
AT&T Inc., Senior Notes		3.500	%		9/15/53		20,000		13,359
AT&T Inc., Senior Notes		3.550	%		9/15/55		296,000		195,049
AT&T Inc., Senior Notes		3.800	%		12/1/57		10,000		6,776
AT&T Inc., Senior Notes		3.650	%		9/15/59		30,000		19,500
Verizon Communications Inc., Senior Notes		2.625	%		8/15/26		290,000		263,768
Verizon Communications Inc., Senior Notes		3.000	%		3/22/27		20,000		18,215
Verizon Communications Inc., Senior Notes		2.100	%		3/22/28		80,000		67,571
Verizon Communications Inc., Senior Notes		4.329	%		9/21/28		144,000		135,596
Verizon Communications Inc., Senior Notes		3.875	%		2/8/29		50,000		45,712
Verizon Communications Inc., Senior Notes		3.150	%		3/22/30		60,000		51,125
Verizon Communications Inc., Senior Notes		1.750	%		1/20/31		80,000		60,128
Verizon Communications Inc., Senior Notes		2.550	%		3/21/31		240,000		191,868
Verizon Communications Inc., Senior Notes		2.355	%		3/15/32		580,000		445,333
Verizon Communications Inc., Senior Notes		4.500	%		8/10/33		110,000		99,305
Verizon Communications Inc., Senior Notes		5.250	%		3/16/37		160,000		149,833
Verizon Communications Inc., Senior Notes		2.650	%		11/20/40		190,000		124,279
Verizon Communications Inc., Senior Notes		3.400	%		3/22/41		460,000		336,958
Verizon Communications Inc., Senior Notes		3.850	%		11/1/42		10,000		7,689
Verizon Communications Inc., Senior Notes		4.125	%		8/15/46		50,000		39,731
Verizon Communications Inc., Senior Notes		4.862	%		8/21/46		100,000		86,626
Verizon Communications Inc., Senior Notes		5.500	%		3/16/47		10,000		9,593
Verizon Communications Inc., Senior Notes		4.000	%		3/22/50		40,000		30,662
Verizon Communications Inc., Senior Notes		2.875	%		11/20/50		270,000		165,837
Total Diversified Telecommunication Services									4,220,192
Entertainment - 0.3%
Walt Disney Co., Senior Notes		6.650	%		11/15/37		50,000		54,691
Warnermedia Holdings Inc., Senior Notes		3.755	%		3/15/27		70,000		62,716	(a)
Warnermedia Holdings Inc., Senior Notes		4.054	%		3/15/29		90,000		77,839	(a)
Warnermedia Holdings Inc., Senior Notes		4.279	%		3/15/32		520,000		428,464	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         1

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Entertainment - (continued)
Warnermedia Holdings Inc., Senior Notes		5.050	%		3/15/42		30,000	$	22,500	(a)
Warnermedia Holdings Inc., Senior Notes		5.141	%		3/15/52		350,000		255,055	(a)
Total Entertainment									901,265
Interactive Media & Services - 0.0%††
Alphabet Inc., Senior Notes		0.450	%		8/15/25		20,000		17,952
Alphabet Inc., Senior Notes		0.800	%		8/15/27		40,000		33,789
Alphabet Inc., Senior Notes		1.100	%		8/15/30		40,000		30,988
Alphabet Inc., Senior Notes		1.900	%		8/15/40		50,000		32,179
Alphabet Inc., Senior Notes		2.050	%		8/15/50		30,000		17,718
Total Interactive Media & Services									132,626
Media - 1.9%
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		8/15/30		10,000		7,933	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.750	%		2/1/32		2,050,000		1,599,871	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		5/1/32		230,000		175,826
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		4.908	%		7/23/25		390,000		380,655
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		4.200	%		3/15/28		80,000		71,956
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.050	%		3/30/29		100,000		92,170
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		4.400	%		4/1/33		410,000		340,206
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		4/1/38		240,000		194,993
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		3.500	%		3/1/42		40,000		25,471
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		5/1/47		10,000		7,761
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.750	%		4/1/48		30,000		24,293

See Notes to Schedule of Investments.

    2     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.125	%		7/1/49		40,000	$	29,422
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		4.800	%		3/1/50		310,000		224,430
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		6.834	%		10/23/55		30,000		27,396
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.500	%		4/1/63		70,000		53,078
Comcast Corp., Senior Notes		3.375	%		8/15/25		30,000		28,822
Comcast Corp., Senior Notes		3.950	%		10/15/25		180,000		175,022
Comcast Corp., Senior Notes		3.150	%		3/1/26		80,000		75,428
Comcast Corp., Senior Notes		3.300	%		4/1/27		40,000		37,152
Comcast Corp., Senior Notes		4.150	%		10/15/28		270,000		255,195
Comcast Corp., Senior Notes		3.400	%		4/1/30		50,000		44,033
Comcast Corp., Senior Notes		4.250	%		10/15/30		320,000		296,941
Comcast Corp., Senior Notes		3.250	%		11/1/39		10,000		7,369
Comcast Corp., Senior Notes		3.750	%		4/1/40		40,000		31,548
Comcast Corp., Senior Notes		3.400	%		7/15/46		10,000		7,084
Comcast Corp., Senior Notes		4.000	%		8/15/47		20,000		15,533
Comcast Corp., Senior Notes		3.969	%		11/1/47		440,000		337,737
Comcast Corp., Senior Notes		4.000	%		3/1/48		10,000		7,717
Comcast Corp., Senior Notes		3.999	%		11/1/49		185,000		142,137
Comcast Corp., Senior Notes		3.450	%		2/1/50		50,000		35,064
Comcast Corp., Senior Notes		2.800	%		1/15/51		60,000		36,959
Comcast Corp., Senior Notes		2.887	%		11/1/51		280,000		175,810
Comcast Corp., Senior Notes		4.049	%		11/1/52		580,000		445,899
Comcast Corp., Senior Notes		2.937	%		11/1/56		27,000		16,163
Comcast Corp., Senior Notes		4.950	%		10/15/58		20,000		17,251
DISH DBS Corp., Senior Notes		5.875	%		11/15/24		60,000		53,635
DISH DBS Corp., Senior Notes		7.750	%		7/1/26		30,000		23,056
DISH DBS Corp., Senior Notes		5.125	%		6/1/29		60,000		35,346
DISH DBS Corp., Senior Secured Notes		5.250	%		12/1/26		30,000		24,634	(a)
DISH DBS Corp., Senior Secured Notes		5.750	%		12/1/28		10,000		7,576	(a)
Fox Corp., Senior Notes		5.476	%		1/25/39		40,000		34,765
Time Warner Cable LLC, Senior Secured Notes		6.550	%		5/1/37		160,000		144,723

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         3

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Time Warner Cable LLC, Senior Secured Notes		7.300	%		7/1/38		10,000	$	9,534
Time Warner Cable LLC, Senior Secured Notes		5.875	%		11/15/40		90,000		74,298
Virgin Media Secured Finance PLC, Senior Secured Notes		5.500	%		5/15/29		210,000		180,294	(a)
Total Media									6,032,186
Wireless Telecommunication Services - 1.0%
CSC Holdings LLC, Senior Notes		4.500	%		11/15/31		1,500,000		1,129,200	(a)
Sprint Capital Corp., Senior Notes		8.750	%		3/15/32		60,000		69,668
Sprint Corp., Senior Notes		7.625	%		2/15/25		40,000		41,071
T-Mobile USA Inc., Senior Notes		3.500	%		4/15/25		630,000		602,704
T-Mobile USA Inc., Senior Notes		2.250	%		2/15/26		20,000		17,924
T-Mobile USA Inc., Senior Notes		3.750	%		4/15/27		20,000		18,483
T-Mobile USA Inc., Senior Notes		2.625	%		2/15/29		60,000		49,661
T-Mobile USA Inc., Senior Notes		3.375	%		4/15/29		60,000		51,930
T-Mobile USA Inc., Senior Notes		3.875	%		4/15/30		310,000		275,164
T-Mobile USA Inc., Senior Notes		2.550	%		2/15/31		50,000		39,659
T-Mobile USA Inc., Senior Notes		2.875	%		2/15/31		50,000		40,360
T-Mobile USA Inc., Senior Notes		3.500	%		4/15/31		130,000		109,450
T-Mobile USA Inc., Senior Notes		2.700	%		3/15/32		490,000		383,239
T-Mobile USA Inc., Senior Notes		3.000	%		2/15/41		20,000		13,404
T-Mobile USA Inc., Senior Notes		3.400	%		10/15/52		160,000		105,907
Vmed O2 UK Financing I PLC, Senior Secured Notes		4.750	%		7/15/31		200,000		154,788	(a)
Vodafone Group PLC, Senior Notes		4.375	%		5/30/28		100,000		94,249
Total Wireless Telecommunication Services									3,196,861
TOTAL COMMUNICATION SERVICES									14,483,130
CONSUMER DISCRETIONARY - 2.9%
Automobiles - 1.1%
Ford Motor Co., Senior Notes		3.250	%		2/12/32		2,170,000		1,566,859
Ford Motor Co., Senior Notes		6.100	%		8/19/32		110,000		97,163
Ford Motor Co., Senior Notes		4.750	%		1/15/43		30,000		19,951
Ford Motor Credit Co. LLC, Senior Notes		4.950	%		5/28/27		200,000		178,986
Ford Motor Credit Co. LLC, Senior Notes		2.900	%		2/10/29		340,000		258,135
Ford Motor Credit Co. LLC, Senior Notes		4.000	%		11/13/30		420,000		328,537
General Motors Co., Senior Notes		5.400	%		10/2/23		30,000		30,016
General Motors Co., Senior Notes		6.125	%		10/1/25		60,000		60,080
General Motors Co., Senior Notes		6.600	%		4/1/36		10,000		9,372

See Notes to Schedule of Investments.

    4     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Automobiles - (continued)
General Motors Financial Co. Inc., Senior Notes		3.100	%		1/12/32		30,000	$	22,667
Nissan Motor Co. Ltd., Senior Notes		3.522	%		9/17/25		530,000		487,911	(a)
Nissan Motor Co. Ltd., Senior Notes		4.345	%		9/17/27		340,000		293,529	(a)
Total Automobiles									3,353,206
Diversified Consumer Services - 0.0%††
Prime Security Services Borrower LLC/ Prime Finance Inc., Senior Secured Notes		5.750	%		4/15/26		70,000		65,964	(a)
Hotels, Restaurants & Leisure - 0.9%
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		3.875	%		1/15/28		30,000		26,157	(a)
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		3.500	%		2/15/29		30,000		24,719	(a)
Hilton Domestic Operating Co. Inc., Senior Notes		5.375	%		5/1/25		50,000		48,993	(a)
Hilton Domestic Operating Co. Inc., Senior Notes		5.750	%		5/1/28		30,000		28,117	(a)
Hilton Domestic Operating Co. Inc., Senior Notes		3.625	%		2/15/32		30,000		23,026	(a)
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., Senior Notes		4.875	%		4/1/27		30,000		27,590
Las Vegas Sands Corp., Senior Notes		3.200	%		8/8/24		400,000		377,368
Las Vegas Sands Corp., Senior Notes		2.900	%		6/25/25		360,000		323,267
McDonald’s Corp., Senior Notes		3.300	%		7/1/25		60,000		57,739
McDonald’s Corp., Senior Notes		1.450	%		9/1/25		10,000		9,128
McDonald’s Corp., Senior Notes		3.700	%		1/30/26		150,000		144,781
McDonald’s Corp., Senior Notes		3.500	%		3/1/27		20,000		18,970
McDonald’s Corp., Senior Notes		3.500	%		7/1/27		90,000		84,191
McDonald’s Corp., Senior Notes		3.600	%		7/1/30		250,000		225,204
McDonald’s Corp., Senior Notes		3.625	%		9/1/49		10,000		7,302
McDonald’s Corp., Senior Notes		4.200	%		4/1/50		300,000		241,185
Sands China Ltd., Senior Notes		5.625	%		8/8/25		400,000		363,008
Sands China Ltd., Senior Notes		4.300	%		1/8/26		200,000		170,643
Sands China Ltd., Senior Notes		2.800	%		3/8/27		200,000		159,207
Sands China Ltd., Senior Notes		3.350	%		3/8/29		200,000		148,853
VOC Escrow Ltd., Senior Secured Notes		5.000	%		2/15/28		80,000		65,234	(a)
Wynn Macau Ltd., Senior Notes		5.625	%		8/26/28		200,000		133,612	(a)
Total Hotels, Restaurants & Leisure									2,708,294

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         5

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Household Durables - 0.0%††
Newell Brands Inc., Senior Notes		4.100	%		4/1/23		47,000	$	47,006
Newell Brands Inc., Senior Notes		4.450	%		4/1/26		10,000		9,214
Total Household Durables									56,220
Internet & Direct Marketing Retail - 0.7%
Amazon.com Inc., Senior Notes		0.800	%		6/3/25		100,000		90,810
Amazon.com Inc., Senior Notes		3.300	%		4/13/27		30,000		28,361
Amazon.com Inc., Senior Notes		1.200	%		6/3/27		300,000		256,574
Amazon.com Inc., Senior Notes		3.150	%		8/22/27		130,000		121,316
Amazon.com Inc., Senior Notes		3.450	%		4/13/29		70,000		64,767
Amazon.com Inc., Senior Notes		1.500	%		6/3/30		60,000		47,400
Amazon.com Inc., Senior Notes		2.100	%		5/12/31		50,000		40,631
Amazon.com Inc., Senior Notes		3.600	%		4/13/32		440,000		400,519
Amazon.com Inc., Senior Notes		3.875	%		8/22/37		80,000		69,676
Amazon.com Inc., Senior Notes		4.950	%		12/5/44		50,000		47,912
Amazon.com Inc., Senior Notes		4.050	%		8/22/47		90,000		76,178
Amazon.com Inc., Senior Notes		2.500	%		6/3/50		400,000		250,969
Amazon.com Inc., Senior Notes		3.100	%		5/12/51		190,000		133,615
Amazon.com Inc., Senior Notes		4.250	%		8/22/57		20,000		16,713
Prosus NV, Senior Notes		3.061	%		7/13/31		600,000		412,843	(a)
Total Internet & Direct Marketing Retail									2,058,284
Multiline Retail - 0.0%††
Dollar General Corp., Senior Notes		3.250	%		4/15/23		10,000		9,990
Specialty Retail - 0.1%
Home Depot Inc., Senior Notes		2.500	%		4/15/27		60,000		54,569
Home Depot Inc., Senior Notes		3.900	%		12/6/28		10,000		9,513
Home Depot Inc., Senior Notes		3.300	%		4/15/40		220,000		168,811
Home Depot Inc., Senior Notes		3.900	%		6/15/47		10,000		7,977
Home Depot Inc., Senior Notes		3.350	%		4/15/50		180,000		129,391
Lowe’s Cos. Inc., Senior Notes		4.500	%		4/15/30		40,000		37,455
Lowe’s Cos. Inc., Senior Notes		4.250	%		4/1/52		110,000		84,362
Total Specialty Retail									492,078
Textiles, Apparel & Luxury Goods - 0.1%
Hanesbrands Inc., Senior Notes		4.625	%		5/15/24		10,000		9,549	(a)
Hanesbrands Inc., Senior Notes		4.875	%		5/15/26		50,000		45,017	(a)
NIKE Inc., Senior Notes		2.750	%		3/27/27		70,000		64,381
NIKE Inc., Senior Notes		2.850	%		3/27/30		80,000		69,582

See Notes to Schedule of Investments.

    6     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Textiles, Apparel & Luxury Goods - (continued)
NIKE Inc., Senior Notes		3.250	%		3/27/40		40,000	$	30,866
NIKE Inc., Senior Notes		3.375	%		3/27/50		110,000		81,216
Total Textiles, Apparel & Luxury Goods									300,611
TOTAL CONSUMER DISCRETIONARY									9,044,647
CONSUMER STAPLES - 1.4%
Beverages - 0.7%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.650	%		2/1/26		590,000		567,326
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.900	%		2/1/46		380,000		331,145
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.000	%		4/13/28		70,000		66,606
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.750	%		1/23/29		90,000		87,766
Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.500	%		6/1/30		40,000		35,769
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.350	%		6/1/40		100,000		84,981
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.600	%		4/15/48		20,000		16,621
Anheuser-Busch InBev Worldwide Inc., Senior Notes		5.550	%		1/23/49		240,000		226,381
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.500	%		6/1/50		140,000		115,624
Coca-Cola Co., Senior Notes		3.375	%		3/25/27		60,000		57,319
Coca-Cola Co., Senior Notes		1.450	%		6/1/27		90,000		77,891
Coca-Cola Co., Senior Notes		2.600	%		6/1/50		40,000		25,857
Constellation Brands Inc., Senior Notes		3.600	%		5/9/24		50,000		48,950
Constellation Brands Inc., Senior Notes		4.350	%		5/9/27		70,000		67,250
Constellation Brands Inc., Senior Notes		2.250	%		8/1/31		90,000		69,239
PepsiCo Inc., Senior Notes		0.750	%		5/1/23		100,000		98,136
PepsiCo Inc., Senior Notes		2.250	%		3/19/25		10,000		9,468
PepsiCo Inc., Senior Notes		2.625	%		3/19/27		10,000		9,188
PepsiCo Inc., Senior Notes		1.625	%		5/1/30		80,000		64,243
PepsiCo Inc., Senior Notes		2.875	%		10/15/49		30,000		21,120
Total Beverages									2,080,880

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         7

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Food & Staples Retailing - 0.0%††
Costco Wholesale Corp., Senior Notes		1.600	%		4/20/30		90,000	$	72,258
Walmart Inc., Senior Notes		1.500	%		9/22/28		50,000		41,872
Walmart Inc., Senior Notes		1.800	%		9/22/31		20,000		15,924
Total Food & Staples Retailing									130,054
Food Products - 0.3%
Danone SA, Senior Notes		2.589	%		11/2/23		220,000		215,176	(a)
Hershey Co., Senior Notes		0.900	%		6/1/25		20,000		18,175
Kraft Heinz Foods Co., Senior Notes		4.250	%		3/1/31		90,000		81,136
Kraft Heinz Foods Co., Senior Notes		5.000	%		7/15/35		20,000		18,242
Kraft Heinz Foods Co., Senior Notes		6.875	%		1/26/39		10,000		10,326
Kraft Heinz Foods Co., Senior Notes		5.000	%		6/4/42		30,000		26,126
Kraft Heinz Foods Co., Senior Notes		5.200	%		7/15/45		80,000		69,751
Kraft Heinz Foods Co., Senior Notes		4.375	%		6/1/46		70,000		54,568
Kraft Heinz Foods Co., Senior Notes		4.875	%		10/1/49		50,000		41,323
Kraft Heinz Foods Co., Senior Notes		5.500	%		6/1/50		170,000		153,290
Mondelez International Inc., Senior Notes		1.500	%		5/4/25		160,000		146,416
Total Food Products									834,529
Household Products - 0.0%††
Procter & Gamble Co., Senior Notes		2.800	%		3/25/27		20,000		18,626
Procter & Gamble Co., Senior Notes		3.000	%		3/25/30		50,000		44,847
Total Household Products									63,473
Tobacco - 0.4%
Altria Group Inc., Senior Notes		2.350	%		5/6/25		20,000		18,546
Altria Group Inc., Senior Notes		4.400	%		2/14/26		32,000		30,825
Altria Group Inc., Senior Notes		4.800	%		2/14/29		13,000		12,014
Altria Group Inc., Senior Notes		2.450	%		2/4/32		240,000		169,739
Altria Group Inc., Senior Notes		3.875	%		9/16/46		40,000		25,382
Altria Group Inc., Senior Notes		5.950	%		2/14/49		410,000		340,605
BAT Capital Corp., Senior Notes		3.557	%		8/15/27		150,000		131,926
BAT Capital Corp., Senior Notes		4.540	%		8/15/47		170,000		113,012
Cargill Inc., Senior Notes		1.375	%		7/23/23		80,000		77,956	(a)
Philip Morris International Inc., Senior Notes		2.500	%		11/2/22		140,000		139,699
Philip Morris International Inc., Senior Notes		1.125	%		5/1/23		60,000		58,804
Philip Morris International Inc., Senior Notes		2.100	%		5/1/30		40,000		30,434

See Notes to Schedule of Investments.

    8     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Tobacco - (continued)
Philip Morris International Inc., Senior Notes		4.500	%		3/20/42		10,000	$	7,346
Reynolds American Inc., Senior Notes		5.850	%		8/15/45		80,000		62,945
Total Tobacco									1,219,233
TOTAL CONSUMER STAPLES									4,328,169
ENERGY - 5.0%
Energy Equipment & Services - 0.0%††
Halliburton Co., Senior Notes		3.800	%		11/15/25		2,000		1,928
Halliburton Co., Senior Notes		4.850	%		11/15/35		20,000		17,492
Halliburton Co., Senior Notes		5.000	%		11/15/45		10,000		8,333
Total Energy Equipment & Services									27,753
Oil, Gas & Consumable Fuels - 5.0%
Apache Corp., Senior Notes		7.750	%		12/15/29		40,000		41,078
Apache Corp., Senior Notes		5.100	%		9/1/40		160,000		129,530
Apache Corp., Senior Notes		5.250	%		2/1/42		10,000		8,168
Apache Corp., Senior Notes		4.750	%		4/15/43		10,000		7,479
Apache Corp., Senior Notes		4.250	%		1/15/44		90,000		64,001
Apache Corp., Senior Notes		5.350	%		7/1/49		40,000		31,573
BP Capital Markets America Inc., Senior Notes		3.410	%		2/11/26		190,000		180,705
BP Capital Markets America Inc., Senior Notes		3.633	%		4/6/30		60,000		53,966
BP Capital Markets America Inc., Senior Notes		3.000	%		2/24/50		250,000		162,879
Cameron LNG LLC, Senior Secured Notes		2.902	%		7/15/31		20,000		16,506	(a)
Cameron LNG LLC, Senior Secured Notes		3.302	%		1/15/35		440,000		347,127	(a)
Cheniere Energy Inc., Senior Notes		4.625	%		10/15/28		950,000		873,701
Cheniere Energy Partners LP, Senior Notes		4.000	%		3/1/31		20,000		16,810
Cheniere Energy Partners LP, Senior Notes		3.250	%		1/31/32		120,000		92,386
Chevron Corp., Senior Notes		1.554	%		5/11/25		90,000		83,256
Chevron Corp., Senior Notes		2.954	%		5/16/26		30,000		28,259
Chevron Corp., Senior Notes		1.995	%		5/11/27		40,000		35,498
Chevron Corp., Senior Notes		3.078	%		5/11/50		10,000		7,107
Chevron USA Inc., Senior Notes		3.850	%		1/15/28		40,000		38,051
Chevron USA Inc., Senior Notes		3.250	%		10/15/29		10,000		9,020
Continental Resources Inc., Senior Notes		4.500	%		4/15/23		10,000		9,962
Continental Resources Inc., Senior Notes		3.800	%		6/1/24		40,000		38,876
Continental Resources Inc., Senior Notes		2.268	%		11/15/26		160,000		136,730	(a)
Continental Resources Inc., Senior Notes		4.375	%		1/15/28		120,000		107,947

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         9

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Continental Resources Inc., Senior Notes		5.750	%		1/15/31		70,000	$	63,427	(a)
Continental Resources Inc., Senior Notes		4.900	%		6/1/44		70,000		50,085
Coterra Energy Inc., Senior Notes		3.900	%		5/15/27		190,000		176,346	(a)
Coterra Energy Inc., Senior Notes		4.375	%		3/15/29		110,000		101,824	(a)
DCP Midstream Operating LP, Senior Notes		6.450	%		11/3/36		20,000		18,316	(a)
Devon Energy Corp., Senior Notes		8.250	%		8/1/23		70,000		71,669
Devon Energy Corp., Senior Notes		5.850	%		12/15/25		150,000		151,462
Devon Energy Corp., Senior Notes		4.500	%		1/15/30		40,000		36,461
Devon Energy Corp., Senior Notes		5.600	%		7/15/41		230,000		206,585
Devon Energy Corp., Senior Notes		4.750	%		5/15/42		30,000		24,500
Devon Energy Corp., Senior Notes		5.000	%		6/15/45		340,000		283,787
Diamondback Energy Inc., Senior Notes		3.250	%		12/1/26		160,000		147,773
Diamondback Energy Inc., Senior Notes		3.500	%		12/1/29		70,000		60,514
Ecopetrol SA, Senior Notes		5.875	%		5/28/45		590,000		358,177
Energy Transfer LP, Junior Subordinated Notes (6.250% to 2/15/23 then 3 mo. USD LIBOR + 4.028%)		6.250	%		2/15/23		40,000		32,850	(b)(c)
Energy Transfer LP, Junior Subordinated Notes (6.500% to 11/15/26 then 5 year Treasury Constant Maturity Rate + 5.694%)		6.500	%		11/15/26		50,000		43,680	(b)(c)
Energy Transfer LP, Junior Subordinated Notes (6.750% to 5/15/25 then 5 year Treasury Constant Maturity Rate + 5.134%)		6.750	%		5/15/25		100,000		86,780	(b)(c)
Energy Transfer LP, Junior Subordinated Notes (7.125% to 5/15/30 then 5 year Treasury Constant Maturity Rate + 5.306%)		7.125	%		5/15/30		60,000		49,443	(b)(c)
Energy Transfer LP, Senior Notes		2.900	%		5/15/25		70,000		65,325
Energy Transfer LP, Senior Notes		4.950	%		6/15/28		40,000		37,327
Energy Transfer LP, Senior Notes		5.250	%		4/15/29		30,000		28,253
Energy Transfer LP, Senior Notes		3.750	%		5/15/30		370,000		313,736
Energy Transfer LP, Senior Notes		5.300	%		4/1/44		10,000		8,033
Energy Transfer LP, Senior Notes		5.400	%		10/1/47		10,000		8,123
Energy Transfer LP, Senior Notes		6.250	%		4/15/49		270,000		240,324
Energy Transfer LP, Senior Notes		5.000	%		5/15/50		160,000		125,416
Enterprise Products Operating LLC, Senior Notes		4.150	%		10/16/28		210,000		195,442
Enterprise Products Operating LLC, Senior Notes		3.125	%		7/31/29		30,000		25,872
Enterprise Products Operating LLC, Senior Notes		2.800	%		1/31/30		420,000		351,352

See Notes to Schedule of Investments.

    10     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Enterprise Products Operating LLC, Senior Notes		7.550	%		4/15/38		20,000	$	21,857
Enterprise Products Operating LLC, Senior Notes		4.850	%		3/15/44		10,000		8,418
Enterprise Products Operating LLC, Senior Notes		4.800	%		2/1/49		10,000		8,259
Enterprise Products Operating LLC, Senior Notes		4.200	%		1/31/50		40,000		30,662
Enterprise Products Operating LLC, Senior Notes		3.700	%		1/31/51		120,000		84,609
Enterprise Products Operating LLC, Senior Notes		3.950	%		1/31/60		40,000		27,701
Enterprise Products Operating LLC, Senior Notes (5.375% to 2/15/28 then 3 mo. USD LIBOR + 2.570%)		5.375	%		2/15/78		30,000		22,569	(c)
EOG Resources Inc., Senior Notes		4.150	%		1/15/26		30,000		29,252
EOG Resources Inc., Senior Notes		4.375	%		4/15/30		20,000		19,074
EOG Resources Inc., Senior Notes		3.900	%		4/1/35		90,000		77,101
EOG Resources Inc., Senior Notes		4.950	%		4/15/50		170,000		158,506
EQM Midstream Partners LP, Senior Notes		5.500	%		7/15/28		10,000		8,569
EQT Corp., Senior Notes		6.125	%		2/1/25		10,000		10,027
EQT Corp., Senior Notes		3.900	%		10/1/27		260,000		237,139
EQT Corp., Senior Notes		5.000	%		1/15/29		30,000		28,052
EQT Corp., Senior Notes		3.625	%		5/15/31		100,000		83,519	(a)
Exxon Mobil Corp., Senior Notes		1.571	%		4/15/23		10,000		9,860
Exxon Mobil Corp., Senior Notes		2.992	%		3/19/25		320,000		307,206
Exxon Mobil Corp., Senior Notes		3.043	%		3/1/26		40,000		37,834
Exxon Mobil Corp., Senior Notes		3.482	%		3/19/30		80,000		72,779
Exxon Mobil Corp., Senior Notes		4.114	%		3/1/46		40,000		33,150
Exxon Mobil Corp., Senior Notes		4.327	%		3/19/50		10,000		8,551
Exxon Mobil Corp., Senior Notes		3.452	%		4/15/51		310,000		231,538
KazMunayGas National Co. JSC, Senior Notes		5.375	%		4/24/30		200,000		159,013	(a)
Kinder Morgan Energy Partners LP, Senior Notes		3.500	%		9/1/23		20,000		19,713
Kinder Morgan Energy Partners LP, Senior Notes		4.250	%		9/1/24		10,000		9,841
Kinder Morgan Energy Partners LP, Senior Notes		5.500	%		3/1/44		10,000		8,332
Kinder Morgan Inc., Senior Notes		4.300	%		6/1/25		60,000		58,576

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         11

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Kinder Morgan Inc., Senior Notes		4.300	%		3/1/28		30,000	$	28,127
Kinder Morgan Inc., Senior Notes		7.750	%		1/15/32		60,000		65,035
Kinder Morgan Inc., Senior Notes		5.550	%		6/1/45		130,000		113,627
MEG Energy Corp., Senior Notes		5.875	%		2/1/29		20,000		17,980	(a)
MPLX LP, Senior Notes		4.800	%		2/15/29		10,000		9,318
MPLX LP, Senior Notes		2.650	%		8/15/30		110,000		86,338
MPLX LP, Senior Notes		4.500	%		4/15/38		120,000		96,871
MPLX LP, Senior Notes		4.700	%		4/15/48		320,000		244,689
MPLX LP, Senior Notes		5.500	%		2/15/49		80,000		68,118
Occidental Petroleum Corp., Senior Notes		6.950	%		7/1/24		100,000		102,893
Occidental Petroleum Corp., Senior Notes		5.550	%		3/15/26		10,000		10,024
Occidental Petroleum Corp., Senior Notes		3.400	%		4/15/26		90,000		85,463
Occidental Petroleum Corp., Senior Notes		3.000	%		2/15/27		50,000		45,241
Occidental Petroleum Corp., Senior Notes		3.500	%		8/15/29		10,000		9,158
Occidental Petroleum Corp., Senior Notes		7.875	%		9/15/31		70,000		74,831
Occidental Petroleum Corp., Senior Notes		6.450	%		9/15/36		140,000		140,344
Occidental Petroleum Corp., Senior Notes		6.200	%		3/15/40		70,000		67,835
Occidental Petroleum Corp., Senior Notes		4.625	%		6/15/45		70,000		58,120
Occidental Petroleum Corp., Senior Notes		6.600	%		3/15/46		30,000		30,969
Occidental Petroleum Corp., Senior Notes		4.400	%		4/15/46		30,000		24,720
Occidental Petroleum Corp., Senior Notes		4.100	%		2/15/47		70,000		55,932
Occidental Petroleum Corp., Senior Notes		4.200	%		3/15/48		50,000		40,105
Petrobras Global Finance BV, Senior Notes		5.299	%		1/27/25		1,114,000		1,109,193
Petrobras Global Finance BV, Senior Notes		7.375	%		1/17/27		240,000		247,500
Petrobras Global Finance BV, Senior Notes		6.900	%		3/19/49		30,000		25,026
Petrobras Global Finance BV, Senior Notes		6.850	%		6/5/2115		100,000		78,219
Petroleos Mexicanos, Senior Notes		6.875	%		8/4/26		150,000		135,292
Pioneer Natural Resources Co., Senior Notes		1.125	%		1/15/26		20,000		17,507
Pioneer Natural Resources Co., Senior Notes		1.900	%		8/15/30		30,000		22,981
Pioneer Natural Resources Co., Senior Notes		2.150	%		1/15/31		270,000		208,396
Range Resources Corp., Senior Notes		5.000	%		3/15/23		113,000		112,781
Range Resources Corp., Senior Notes		4.875	%		5/15/25		40,000		37,761
Reliance Industries Ltd., Senior Notes		3.625	%		1/12/52		260,000		163,456	(a)
Sabine Pass Liquefaction LLC, Senior Secured Notes		5.750	%		5/15/24		230,000		230,965

See Notes to Schedule of Investments.

    12     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Shell International Finance BV, Senior Notes		2.875	%		5/10/26		140,000	$	130,550
Shell International Finance BV, Senior Notes		2.750	%		4/6/30		80,000		68,379
Shell International Finance BV, Senior Notes		4.550	%		8/12/43		10,000		8,694
Shell International Finance BV, Senior Notes		4.375	%		5/11/45		160,000		134,839
Shell International Finance BV, Senior Notes		4.000	%		5/10/46		40,000		31,941
Shell International Finance BV, Senior Notes		3.250	%		4/6/50		80,000		56,439
Southern Natural Gas Co. LLC, Senior Notes		8.000	%		3/1/32		50,000		54,698
Southwestern Energy Co., Senior Notes		5.700	%		1/23/25		1,400,000		1,372,525
Southwestern Energy Co., Senior Notes		5.375	%		3/15/30		20,000		18,064
Southwestern Energy Co., Senior Notes		4.750	%		2/1/32		50,000		42,015
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Senior Notes		6.000	%		12/31/30		10,000		8,526	(a)
Targa Resources Corp., Senior Notes		5.200	%		7/1/27		190,000		183,063
Targa Resources Corp., Senior Notes		4.200	%		2/1/33		80,000		66,751
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		5.000	%		1/15/28		20,000		18,543
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		5.500	%		3/1/30		20,000		17,995
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		4.875	%		2/1/31		150,000		129,249
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		4.000	%		1/15/32		10,000		8,267
Tennessee Gas Pipeline Co. LLC, Senior Notes		2.900	%		3/1/30		380,000		311,599	(a)
Venture Global Calcasieu Pass LLC, Senior Secured Notes		3.875	%		11/1/33		60,000		46,766	(a)
Western Midstream Operating LP, Senior Notes		3.350	%		2/1/25		70,000		65,343
Western Midstream Operating LP, Senior Notes		4.500	%		3/1/28		20,000		18,129

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         13

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Western Midstream Operating LP, Senior Notes		4.300	%		2/1/30		440,000	$	377,300
Western Midstream Operating LP, Senior Notes		5.300	%		3/1/48		10,000		8,246
Western Midstream Operating LP, Senior Notes		5.500	%		8/15/48		50,000		40,540
Western Midstream Operating LP, Senior Notes		5.500	%		2/1/50		50,000		40,443
Western Midstream Operating LP, Senior Notes (3 mo. USD LIBOR + 1.100%)		3.555	%		1/13/23		30,000		29,781	(c)
Williams Cos. Inc., Senior Notes		3.700	%		1/15/23		50,000		49,965
Williams Cos. Inc., Senior Notes		3.750	%		6/15/27		200,000		184,711
Williams Cos. Inc., Senior Notes		3.500	%		11/15/30		40,000		34,023
Williams Cos. Inc., Senior Notes		7.500	%		1/15/31		30,000		32,250
Williams Cos. Inc., Senior Notes		7.750	%		6/15/31		160,000		174,163
Williams Cos. Inc., Senior Notes		4.850	%		3/1/48		110,000		91,338
Total Oil, Gas & Consumable Fuels									15,415,154
TOTAL ENERGY									15,442,907
FINANCIALS - 10.5%
Banks - 7.1%
Banco Santander SA, Senior Notes		3.848	%		4/12/23		400,000		397,167
Banco Santander SA, Senior Notes		2.746	%		5/28/25		600,000		549,284
Bank of America Corp., Senior Notes		3.300	%		1/11/23		90,000		89,790
Bank of America Corp., Senior Notes		3.500	%		4/19/26		150,000		141,059
Bank of America Corp., Senior Notes		5.000	%		1/21/44		150,000		130,049
Bank of America Corp., Senior Notes (2.572% to 10/20/31 then SOFR + 1.210%)		2.572	%		10/20/32		240,000		183,821	(c)
Bank of America Corp., Senior Notes (2.592% to 4/29/30 then SOFR + 2.150%)		2.592	%		4/29/31		290,000		230,279	(c)
Bank of America Corp., Senior Notes (2.972% to 2/4/32 then SOFR + 1.330%)		2.972	%		2/4/33		100,000		78,300	(c)
Bank of America Corp., Senior Notes (3.004% to 12/20/22 then 3 mo. USD LIBOR + 0.790%)		3.004	%		12/20/23		323,000		321,324	(c)
Bank of America Corp., Senior Notes (3.419% to 12/20/27 then 3 mo. USD LIBOR + 1.040%)		3.419	%		12/20/28		861,000		765,614	(c)
Bank of America Corp., Senior Notes (3.550% to 3/5/23 then 3 mo. USD LIBOR + 0.780%)		3.550	%		3/5/24		190,000		188,550	(c)

See Notes to Schedule of Investments.

    14     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Bank of America Corp., Senior Notes (3.593% to 7/21/27 then 3 mo. USD LIBOR + 1.370%)		3.593	%		7/21/28		130,000	$	117,539	(c)
Bank of America Corp., Senior Notes (3.841% to 4/25/24 then SOFR + 1.110%)		3.841	%		4/25/25		90,000		87,617	(c)
Bank of America Corp., Senior Notes (3.946% to 1/23/48 then 3 mo. USD LIBOR + 1.190%)		3.946	%		1/23/49		50,000		37,185	(c)
Bank of America Corp., Senior Notes (3.974% to 2/7/29 then 3 mo. USD LIBOR + 1.210%)		3.974	%		2/7/30		110,000		98,052	(c)
Bank of America Corp., Senior Notes (4.083% to 3/20/50 then 3 mo. USD LIBOR + 3.150%)		4.083	%		3/20/51		430,000		325,219	(c)
Bank of America Corp., Senior Notes (4.330% to 3/15/49 then 3 mo. USD LIBOR + 1.520%)		4.330	%		3/15/50		160,000		126,555	(c)
Bank of America Corp., Senior Notes (4.376% to 4/27/27 then SOFR + 1.580%)		4.376	%		4/27/28		70,000		65,678	(c)
Bank of America Corp., Senior Notes (4.571% to 4/27/32 then SOFR + 1.830%)		4.571	%		4/27/33		750,000		672,772	(c)
Bank of America Corp., Subordinated Notes		4.000	%		1/22/25		130,000		125,938
Bank of America Corp., Subordinated Notes		4.450	%		3/3/26		40,000		38,584
Bank of America Corp., Subordinated Notes		4.250	%		10/22/26		700,000		665,810
Bank of Montreal, Senior Notes		1.850	%		5/1/25		160,000		147,381
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		30,000		26,052	(c)
Bank of Nova Scotia, Senior Notes		1.300	%		6/11/25		80,000		72,034
Bank of Nova Scotia, Subordinated Notes (4.588% to 5/4/32 then 5 year Treasury Constant Maturity Rate + 2.050%)		4.588	%		5/4/37		200,000		168,029	(c)
BNP Paribas SA, Senior Notes		4.400	%		8/14/28		200,000		180,260	(a)
BNP Paribas SA, Senior Notes (2.219% to 6/9/25 then SOFR + 2.074%)		2.219	%		6/9/26		400,000		359,975	(a)(c)
BNP Paribas SA, Senior Notes (4.705% to 1/10/24 then 3 mo. USD LIBOR + 2.235%)		4.705	%		1/10/25		360,000		354,605	(a)(c)
BNP Paribas SA, Subordinated Notes		4.625	%		3/13/27		200,000		185,087	(a)
Canadian Imperial Bank of Commerce, Senior Notes		0.950	%		6/23/23		80,000		77,835

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         15

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Citigroup Inc., Junior Subordinated Notes (6.300% to 5/15/24 then 3 mo. USD LIBOR + 3.423%)		6.300	%		5/15/24		20,000	$	18,701	(b)(c)
Citigroup Inc., Senior Notes		8.125	%		7/15/39		37,000		43,835
Citigroup Inc., Senior Notes		4.650	%		7/30/45		275,000		222,748
Citigroup Inc., Senior Notes (1.678% to 5/15/23 then SOFR + 1.667%)		1.678	%		5/15/24		90,000		88,095	(c)
Citigroup Inc., Senior Notes (2.520% to 11/3/31 then SOFR + 1.177%)		2.520	%		11/3/32		660,000		501,176	(c)
Citigroup Inc., Senior Notes (2.572% to 6/3/30 then SOFR + 2.107%)		2.572	%		6/3/31		530,000		417,620	(c)
Citigroup Inc., Senior Notes (3.106% to 4/8/25 then SOFR + 2.842%)		3.106	%		4/8/26		70,000		65,659	(c)
Citigroup Inc., Senior Notes (3.785% to 3/17/32 then SOFR + 1.939%)		3.785	%		3/17/33		880,000		738,806	(c)
Citigroup Inc., Senior Notes (4.412% to 3/31/30 then SOFR + 3.914%)		4.412	%		3/31/31		110,000		98,845	(c)
Citigroup Inc., Senior Notes (4.658% to 5/24/27 then SOFR + 1.887%)		4.658	%		5/24/28		120,000		114,137	(c)
Citigroup Inc., Senior Notes (4.910% to 5/24/32 then SOFR + 2.086%)		4.910	%		5/24/33		110,000		101,357	(c)
Citigroup Inc., Subordinated Notes		3.500	%		5/15/23		20,000		19,865
Citigroup Inc., Subordinated Notes		4.400	%		6/10/25		10,000		9,731
Citigroup Inc., Subordinated Notes		4.300	%		11/20/26		80,000		75,805
Citigroup Inc., Subordinated Notes		4.450	%		9/29/27		990,000		917,968
Citigroup Inc., Subordinated Notes		4.125	%		7/25/28		170,000		153,658
Citigroup Inc., Subordinated Notes		5.300	%		5/6/44		13,000		11,369
Citigroup Inc., Subordinated Notes		4.750	%		5/18/46		70,000		55,997
Cooperatieve Rabobank UA, Senior Notes		4.375	%		8/4/25		250,000		239,131
Cooperatieve Rabobank UA, Senior Notes (3.758% to 4/6/32 then 1 year Treasury Constant Maturity Rate + 1.420%)		3.758	%		4/6/33		760,000		629,268	(a)(c)
Credit Agricole SA, Senior Notes (1.907%to 6/16/25 then SOFR + 1.676%)		1.907	%		6/16/26		250,000		223,729	(a)(c)
Danske Bank A/S, Senior Notes (3.244% to 12/20/24 then 3 mo. USD LIBOR + 1.591%)		3.244	%		12/20/25		200,000		186,078	(a)(c)
Danske Bank A/S, Senior Notes (4.298% to 4/1/27 then 1 year Treasury Constant Maturity Rate + 1.750%)		4.298	%		4/1/28		500,000		445,664	(a)(c)
HSBC Holdings PLC, Senior Notes		3.900	%		5/25/26		420,000		394,057

See Notes to Schedule of Investments.

    16     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
HSBC Holdings PLC, Senior Notes (2.099%to 6/4/25 then SOFR + 1.929%)		2.099	%		6/4/26		430,000	$	385,434	(c)
HSBC Holdings PLC, Senior Notes (3.973%to 5/22/29 then 3 mo. USD LIBOR + 1.610%)		3.973	%		5/22/30		250,000		211,883	(c)
HSBC Holdings PLC, Subordinated Notes (4.762% to 3/29/32 then SOFR + 2.530%)		4.762	%		3/29/33		200,000		164,462	(c)
Intesa Sanpaolo SpA, Senior Notes		3.375	%		1/12/23		200,000		198,916	(a)
Intesa Sanpaolo SpA, Subordinated Notes		5.017	%		6/26/24		470,000		438,581	(a)
JPMorgan Chase & Co., Senior Notes (1.514% to 6/1/23 then SOFR + 1.455%)		1.514	%		6/1/24		240,000		234,373	(c)
JPMorgan Chase & Co., Senior Notes (2.083% to 4/22/25 then SOFR + 1.850%)		2.083	%		4/22/26		630,000		574,372	(c)
JPMorgan Chase & Co., Senior Notes (2.522% to 4/22/30 then SOFR + 2.040%)		2.522	%		4/22/31		80,000		63,344	(c)
JPMorgan Chase & Co., Senior Notes (2.545% to 11/8/31 then SOFR + 1.180%)		2.545	%		11/8/32		260,000		197,593	(c)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/40 then SOFR + 2.460%)		3.109	%		4/22/41		190,000		131,941	(c)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/50 then SOFR + 2.440%)		3.109	%		4/22/51		40,000		25,361	(c)
JPMorgan Chase & Co., Senior Notes (3.509% to 1/23/28 then 3 mo. USD LIBOR + 0.945%)		3.509	%		1/23/29		300,000		265,776	(c)
JPMorgan Chase & Co., Senior Notes (4.023% to 12/5/23 then 3 mo. USD LIBOR + 1.000%)		4.023	%		12/5/24		220,000		216,590	(c)
JPMorgan Chase & Co., Senior Notes (4.203% to 7/23/28 then 3 mo. USD LIBOR + 1.260%)		4.203	%		7/23/29		140,000		127,598	(c)
JPMorgan Chase & Co., Senior Notes (4.452% to 12/5/28 then 3 mo. USD LIBOR + 1.330%)		4.452	%		12/5/29		60,000		55,002	(c)
JPMorgan Chase & Co., Senior Notes (4.586% to 4/26/32 then SOFR + 1.800%)		4.586	%		4/26/33		460,000		414,591	(c)
JPMorgan Chase & Co., Subordinated Notes		3.875	%		9/10/24		60,000		58,729
JPMorgan Chase & Co., Subordinated Notes		4.250	%		10/1/27		50,000		46,932
JPMorgan Chase & Co., Subordinated Notes		4.950	%		6/1/45		30,000		25,133

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         17

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Lloyds Banking Group PLC, Senior Notes (3.574% to 11/7/27 then 3 mo. USD LIBOR + 1.205%)		3.574	%		11/7/28		400,000	$	351,310	(c)
Mitsubishi UFJ Financial Group Inc., Senior Notes (3.837% to 4/17/25 then 1 year Treasury Constant Maturity Rate + 1.125%)		3.837	%		4/17/26		200,000		191,601	(c)
NatWest Group PLC, Senior Notes (4.519%to 6/25/23 then 3 mo. USD LIBOR + 1.550%)		4.519	%		6/25/24		200,000		197,689	(c)
Royal Bank of Canada, Senior Notes		1.600	%		4/17/23		200,000		197,238
Royal Bank of Canada, Senior Notes		1.150	%		6/10/25		80,000		72,281
Santander Holdings USA Inc., Senior Notes		4.500	%		7/17/25		70,000		67,019
Swedbank AB, Senior Notes		1.300	%		6/2/23		400,000		390,616	(a)
Toronto-Dominion Bank, Senior Notes		0.750	%		6/12/23		150,000		145,958
Toronto-Dominion Bank, Senior Notes		1.150	%		6/12/25		80,000		71,980
Toronto-Dominion Bank, Senior Notes		4.456	%		6/8/32		280,000		256,051
US Bancorp, Senior Notes		1.450	%		5/12/25		180,000		165,435
Wells Fargo & Co., Senior Notes		3.750	%		1/24/24		60,000		59,107
Wells Fargo & Co., Senior Notes		3.000	%		10/23/26		530,000		480,969
Wells Fargo & Co., Senior Notes		4.150	%		1/24/29		210,000		193,368
Wells Fargo & Co., Senior Notes (2.188%to 4/30/25 then SOFR + 2.000%)		2.188	%		4/30/26		150,000		137,122	(c)
Wells Fargo & Co., Senior Notes (3.350%to 3/2/32 then SOFR + 1.500%)		3.350	%		3/2/33		50,000		40,614	(c)
Wells Fargo & Co., Senior Notes (4.478%to 4/4/30 then SOFR + 4.032%)		4.478	%		4/4/31		260,000		238,132	(c)
Wells Fargo & Co., Senior Notes (4.611%to 4/25/52 then SOFR + 2.130%)		4.611	%		4/25/53		830,000		675,566	(c)
Wells Fargo & Co., Senior Notes (5.013%to 4/4/50 then SOFR + 4.502%)		5.013	%		4/4/51		970,000		839,876	(c)
Wells Fargo & Co., Subordinated Notes		4.100	%		6/3/26		50,000		47,624
Wells Fargo & Co., Subordinated Notes		4.300	%		7/22/27		60,000		56,161
Wells Fargo & Co., Subordinated Notes		4.650	%		11/4/44		220,000		175,417
Wells Fargo & Co., Subordinated Notes		4.900	%		11/17/45		300,000		246,213
Wells Fargo & Co., Subordinated Notes		4.400	%		6/14/46		40,000		30,604
Wells Fargo & Co., Subordinated Notes		4.750	%		12/7/46		170,000		136,367
Total Banks									22,081,672

See Notes to Schedule of Investments.

    18     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - 2.5%
Bank of New York Mellon Corp., Senior Notes		1.600	%		4/24/25		50,000	$	46,237
Credit Suisse AG, Senior Notes		2.950	%		4/9/25		520,000		478,806
Credit Suisse Group AG, Junior Subordinated Notes (9.750% to 12/23/27 then 5 year Treasury Constant Maturity Rate + 6.383%)		9.750	%		6/23/27		590,000		580,194	(a)(b)(c)
Credit Suisse Group AG, Senior Notes		4.550	%		4/17/26		250,000		230,294
Credit Suisse Group AG, Senior Notes (4.194% to 4/1/30 then SOFR + 3.730%)		4.194	%		4/1/31		250,000		196,948	(a)(c)
Goldman Sachs Group Inc., Senior Notes		3.200	%		2/23/23		100,000		99,521
Goldman Sachs Group Inc., Senior Notes		3.850	%		7/8/24		40,000		39,123
Goldman Sachs Group Inc., Senior Notes		3.500	%		1/23/25		190,000		182,774
Goldman Sachs Group Inc., Senior Notes		3.500	%		4/1/25		270,000		258,201
Goldman Sachs Group Inc., Senior Notes		3.500	%		11/16/26		270,000		249,829
Goldman Sachs Group Inc., Senior Notes		6.250	%		2/1/41		100,000		99,581
Goldman Sachs Group Inc., Senior Notes		4.750	%		10/21/45		20,000		16,723
Goldman Sachs Group Inc., Senior Notes (2.650% to 10/21/31 then SOFR + 1.264%)		2.650	%		10/21/32		1,630,000		1,251,272	(c)
Goldman Sachs Group Inc., Senior Notes (2.908% to 7/21/41 then SOFR + 1.472%)		2.908	%		7/21/42		370,000		238,729	(c)
Goldman Sachs Group Inc., Senior Notes (3.615% to 3/15/27 then SOFR + 1.846%)		3.615	%		3/15/28		40,000		36,443	(c)
Goldman Sachs Group Inc., Senior Notes (3.691% to 6/5/27 then 3 mo. USD LIBOR + 1.510%)		3.691	%		6/5/28		150,000		135,818	(c)
Goldman Sachs Group Inc., Senior Notes (3.814% to 4/23/28 then 3 mo. USD LIBOR + 1.158%)		3.814	%		4/23/29		160,000		142,080	(c)
Goldman Sachs Group Inc., Senior Notes (4.223% to 5/1/28 then 3 mo. USD LIBOR + 1.301%)		4.223	%		5/1/29		260,000		236,678	(c)
Goldman Sachs Group Inc., Senior Notes (3.210% to 4/22/41 then SOFR + 1.513%)		3.210	%		4/22/42		20,000		13,608	(c)
Goldman Sachs Group Inc., Subordinated Notes		4.250	%		10/21/25		100,000		96,626
Goldman Sachs Group Inc., Subordinated Notes		6.750	%		10/1/37		190,000		189,760
Goldman Sachs Group Inc., Subordinated Notes		5.150	%		5/22/45		140,000		117,252
Intercontinental Exchange Inc., Senior Notes		4.600	%		3/15/33		360,000		336,269

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         19

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
Intercontinental Exchange Inc., Senior Notes		4.950	%		6/15/52		50,000	$	44,349
Morgan Stanley, Senior Notes (2.188% to 4/28/25 then SOFR + 1.990%)		2.188	%		4/28/26		480,000		440,608	(c)
Morgan Stanley, Senior Notes (2.511% to 10/20/31 then SOFR + 1.200%)		2.511	%		10/20/32		660,000		505,096	(c)
Morgan Stanley, Senior Notes (3.622% to 4/1/30 then SOFR + 3.120%)		3.622	%		4/1/31		270,000		233,618	(c)
Morgan Stanley, Senior Notes (3.772% to 1/24/28 then 3 mo. USD LIBOR + 1.140%)		3.772	%		1/24/29		230,000		207,162	(c)
Morgan Stanley, Subordinated Notes (2.484% to 9/16/31 then SOFR + 1.360%)		2.484	%		9/16/36		60,000		43,082	(c)
UBS AG, Senior Notes		4.500	%		6/26/48		400,000		325,743	(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		350,000		332,045	(a)(b)(c)
UBS Group AG, Senior Notes		4.253	%		3/23/28		500,000		460,677	(a)
Total Capital Markets									7,865,146
Consumer Finance - 0.1%
American Express Co., Senior Notes		3.375	%		5/3/24		110,000		107,322
American Express Co., Senior Notes		4.050	%		5/3/29		170,000		156,637
Total Consumer Finance									263,959
Diversified Financial Services - 0.6%
AerCap Ireland Capital DAC/AerCap Global
Aviation Trust, Senior Notes		2.450	%		10/29/26		1,100,000		929,329
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.300	%		1/30/32		840,000		632,754
Park Aerospace Holdings Ltd., Senior Notes		4.500	%		3/15/23		10,000		9,943	(a)
Park Aerospace Holdings Ltd., Senior Notes		5.500	%		2/15/24		50,000		48,982	(a)
USAA Capital Corp., Senior Notes		2.125	%		5/1/30		150,000		120,727	(a)
Vanguard Group Inc.		3.050	%		8/22/50		120,000		80,252	(d)(e)
Total Diversified Financial Services									1,821,987
Insurance - 0.2%
American International Group Inc., Senior Notes		2.500	%		6/30/25		40,000		37,358
Berkshire Hathaway Finance Corp., Senior Notes		4.250	%		1/15/49		280,000		233,676
Guardian Life Global Funding, Secured Notes		1.100	%		6/23/25		30,000		26,980	(a)

See Notes to Schedule of Investments.

    20     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Insurance - (continued)
New York Life Global Funding, Senior Secured Notes		0.950	%		6/24/25		60,000	$	53,824	(a)
Principal Life Global Funding II, Secured Notes		1.250	%		6/23/25		30,000		26,984	(a)
Teachers Insurance & Annuity Association of America, Subordinated Notes		6.850	%		12/16/39		8,000		8,736	(a)
Teachers Insurance & Annuity Association of America, Subordinated Notes		4.900	%		9/15/44		360,000		316,578	(a)
Total Insurance									704,136
TOTAL FINANCIALS									32,736,900
HEALTH CARE - 3.6%
Biotechnology - 0.9%
AbbVie Inc., Senior Notes		2.300	%		11/21/22		300,000		299,293
AbbVie Inc., Senior Notes		3.750	%		11/14/23		20,000		19,787
AbbVie Inc., Senior Notes		2.600	%		11/21/24		350,000		333,330
AbbVie Inc., Senior Notes		3.800	%		3/15/25		170,000		164,799
AbbVie Inc., Senior Notes		3.600	%		5/14/25		480,000		461,192
AbbVie Inc., Senior Notes		2.950	%		11/21/26		70,000		64,200
AbbVie Inc., Senior Notes		3.200	%		11/21/29		820,000		718,530
AbbVie Inc., Senior Notes		4.875	%		11/14/48		10,000		8,817
AbbVie Inc., Senior Notes		4.250	%		11/21/49		100,000		80,405
Amgen Inc., Senior Notes		4.663	%		6/15/51		29,000		24,465
Gilead Sciences Inc., Senior Notes		3.500	%		2/1/25		50,000		48,279
Gilead Sciences Inc., Senior Notes		3.650	%		3/1/26		150,000		142,724
Gilead Sciences Inc., Senior Notes		4.750	%		3/1/46		50,000		43,677
GSK Consumer Healthcare Capital US LLC, Senior Notes		3.375	%		3/24/29		260,000		227,034	(a)
Total Biotechnology									2,636,532
Health Care Equipment & Supplies - 0.2%
Abbott Laboratories, Senior Notes		3.750	%		11/30/26		86,000		83,511
Abbott Laboratories, Senior Notes		4.750	%		11/30/36		230,000		224,804
Abbott Laboratories, Senior Notes		4.900	%		11/30/46		40,000		38,448
Becton Dickinson and Co., Senior Notes		3.363	%		6/6/24		68,000		66,133
Becton Dickinson and Co., Senior Notes		3.734	%		12/15/24		9,000		8,700
Becton Dickinson and Co., Senior Notes		4.685	%		12/15/44		8,000		6,857
Danaher Corp., Senior Notes		2.800	%		12/10/51		100,000		64,630
Roche Holdings Inc., Senior Notes		2.607	%		12/13/51		200,000		131,053	(a)
Total Health Care Equipment & Supplies									624,136

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         21

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - 1.4%
Aetna Inc., Senior Notes		2.800	%		6/15/23		30,000	$	29,624
Centene Corp., Senior Notes		4.250	%		12/15/27		50,000		45,841
Centene Corp., Senior Notes		4.625	%		12/15/29		80,000		72,076
Centene Corp., Senior Notes		3.375	%		2/15/30		10,000		8,197
Centene Corp., Senior Notes		3.000	%		10/15/30		10,000		7,941
Cigna Corp., Senior Notes		3.750	%		7/15/23		69,000		68,522
Cigna Corp., Senior Notes		4.125	%		11/15/25		70,000		68,062
Cigna Corp., Senior Notes		4.375	%		10/15/28		310,000		293,029
Cigna Corp., Senior Notes		4.900	%		12/15/48		20,000		17,319
Cigna Corp., Senior Notes		3.400	%		3/15/50		220,000		149,221
CVS Health Corp., Senior Notes		3.875	%		7/20/25		160,000		155,292
CVS Health Corp., Senior Notes		3.625	%		4/1/27		30,000		28,102
CVS Health Corp., Senior Notes		4.300	%		3/25/28		136,000		128,509
CVS Health Corp., Senior Notes		3.750	%		4/1/30		400,000		356,317
CVS Health Corp., Senior Notes		1.875	%		2/28/31		20,000		15,269
CVS Health Corp., Senior Notes		2.125	%		9/15/31		80,000		61,773
CVS Health Corp., Senior Notes		4.125	%		4/1/40		20,000		15,965
CVS Health Corp., Senior Notes		5.125	%		7/20/45		150,000		131,685
CVS Health Corp., Senior Notes		5.050	%		3/25/48		690,000		609,273
Elevance Health Inc., Senior Notes		2.950	%		12/1/22		90,000		89,825
Elevance Health Inc., Senior Notes		3.350	%		12/1/24		50,000		48,127
Elevance Health Inc., Senior Notes		3.650	%		12/1/27		220,000		205,190
Elevance Health Inc., Senior Notes		4.100	%		5/15/32		180,000		162,879
Elevance Health Inc., Senior Notes		4.550	%		5/15/52		70,000		59,268
HCA Inc., Senior Notes		5.375	%		2/1/25		20,000		19,784
HCA Inc., Senior Notes		5.250	%		4/15/25		30,000		29,419
HCA Inc., Senior Notes		5.250	%		6/15/26		30,000		29,024
HCA Inc., Senior Notes		5.375	%		9/1/26		60,000		58,208
HCA Inc., Senior Notes		4.500	%		2/15/27		40,000		37,397
HCA Inc., Senior Notes		5.625	%		9/1/28		100,000		95,461
HCA Inc., Senior Notes		3.500	%		9/1/30		90,000		74,511
HCA Inc., Senior Notes		5.500	%		6/15/47		30,000		25,431
Humana Inc., Senior Notes		4.500	%		4/1/25		20,000		19,736
Humana Inc., Senior Notes		3.950	%		3/15/27		500,000		469,484
Humana Inc., Senior Notes		2.150	%		2/3/32		30,000		22,841
Tenet Healthcare Corp., Senior Secured Notes		4.375	%		1/15/30		10,000		8,369	(a)
UnitedHealth Group Inc., Senior Notes		2.375	%		10/15/22		10,000		9,993
UnitedHealth Group Inc., Senior Notes		3.500	%		6/15/23		30,000		29,822

See Notes to Schedule of Investments.

    22     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
UnitedHealth Group Inc., Senior Notes		3.750	%		7/15/25		40,000	$	38,917
UnitedHealth Group Inc., Senior Notes		1.250	%		1/15/26		20,000		17,859
UnitedHealth Group Inc., Senior Notes		3.875	%		12/15/28		60,000		56,328
UnitedHealth Group Inc., Senior Notes		4.000	%		5/15/29		130,000		121,262
UnitedHealth Group Inc., Senior Notes		2.000	%		5/15/30		30,000		24,178
UnitedHealth Group Inc., Senior Notes		2.300	%		5/15/31		20,000		16,127
UnitedHealth Group Inc., Senior Notes		4.200	%		5/15/32		90,000		83,675
UnitedHealth Group Inc., Senior Notes		4.250	%		6/15/48		20,000		16,630
UnitedHealth Group Inc., Senior Notes		4.450	%		12/15/48		20,000		17,119
UnitedHealth Group Inc., Senior Notes		3.700	%		8/15/49		100,000		75,893
UnitedHealth Group Inc., Senior Notes		2.900	%		5/15/50		30,000		19,792
UnitedHealth Group Inc., Senior Notes		3.250	%		5/15/51		300,000		209,080
UnitedHealth Group Inc., Senior Notes		3.875	%		8/15/59		50,000		37,388
UnitedHealth Group Inc., Senior Notes		3.125	%		5/15/60		10,000		6,431
Total Health Care Providers & Services									4,497,465
Pharmaceuticals - 1.1%
Bausch Health Cos. Inc., Senior Notes		6.250	%		2/15/29		90,000		33,768	(a)
Bausch Health Cos. Inc., Senior Notes		7.250	%		5/30/29		20,000		7,694	(a)
Bausch Health Cos. Inc., Senior Secured Notes		5.500	%		11/1/25		10,000		7,960	(a)
Bristol-Myers Squibb Co., Senior Notes		2.900	%		7/26/24		71,000		68,918
Bristol-Myers Squibb Co., Senior Notes		3.200	%		6/15/26		105,000		99,481
Bristol-Myers Squibb Co., Senior Notes		3.400	%		7/26/29		158,000		143,439
Johnson & Johnson, Senior Notes		0.550	%		9/1/25		50,000		44,672
Johnson & Johnson, Senior Notes		0.950	%		9/1/27		110,000		93,237
Johnson & Johnson, Senior Notes		2.100	%		9/1/40		360,000		240,526
Merck & Co. Inc., Senior Notes		1.450	%		6/24/30		50,000		39,175
Merck & Co. Inc., Senior Notes		2.750	%		12/10/51		170,000		111,244
Pfizer Inc., Senior Notes		0.800	%		5/28/25		120,000		109,101
Pfizer Inc., Senior Notes		2.625	%		4/1/30		200,000		172,129
Pfizer Inc., Senior Notes		1.700	%		5/28/30		70,000		56,008
Teva Pharmaceutical Finance Co. BV, Senior Notes		2.950	%		12/18/22		100,000		99,253
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		2.800	%		7/21/23		120,000		116,123
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		3.150	%		10/1/26		2,040,000		1,676,564

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         23

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Pharmaceuticals - (continued)
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		5.125	%		5/9/29		460,000	$	380,588
Wyeth LLC, Senior Notes		5.950	%		4/1/37		10,000		10,544
Total Pharmaceuticals									3,510,424
TOTAL HEALTH CARE									11,268,557
INDUSTRIALS - 3.0%
Aerospace & Defense - 1.1%
Boeing Co., Senior Notes		4.875	%		5/1/25		400,000		390,687
Boeing Co., Senior Notes		2.196	%		2/4/26		110,000		97,716
Boeing Co., Senior Notes		3.100	%		5/1/26		20,000		18,281
Boeing Co., Senior Notes		2.700	%		2/1/27		40,000		34,747
Boeing Co., Senior Notes		2.800	%		3/1/27		50,000		43,992
Boeing Co., Senior Notes		3.200	%		3/1/29		130,000		108,709
Boeing Co., Senior Notes		5.150	%		5/1/30		390,000		361,227
Boeing Co., Senior Notes		3.250	%		2/1/35		260,000		184,043
Boeing Co., Senior Notes		3.550	%		3/1/38		20,000		13,735
Boeing Co., Senior Notes		5.705	%		5/1/40		190,000		166,433
Boeing Co., Senior Notes		3.750	%		2/1/50		80,000		52,300
Boeing Co., Senior Notes		5.805	%		5/1/50		470,000		409,478
Boeing Co., Senior Notes		5.930	%		5/1/60		40,000		34,351
General Dynamics Corp., Senior Notes		3.250	%		4/1/25		20,000		19,338
General Dynamics Corp., Senior Notes		3.500	%		5/15/25		20,000		19,479
General Dynamics Corp., Senior Notes		4.250	%		4/1/40		10,000		8,786
General Dynamics Corp., Senior Notes		4.250	%		4/1/50		30,000		26,108
L3Harris Technologies Inc., Senior Notes		5.054	%		4/27/45		60,000		53,198
Lockheed Martin Corp., Senior Notes		3.550	%		1/15/26		30,000		29,027
Lockheed Martin Corp., Senior Notes		3.900	%		6/15/32		50,000		46,419
Lockheed Martin Corp., Senior Notes		4.500	%		5/15/36		30,000		27,544
Lockheed Martin Corp., Senior Notes		4.150	%		6/15/53		270,000		226,643
Northrop Grumman Corp., Senior Notes		2.930	%		1/15/25		150,000		143,164
Northrop Grumman Corp., Senior Notes		3.250	%		1/15/28		180,000		164,005
Northrop Grumman Corp., Senior Notes		5.250	%		5/1/50		220,000		210,746
Raytheon Technologies Corp., Senior Notes		3.150	%		12/15/24		40,000		38,967
Raytheon Technologies Corp., Senior Notes		3.950	%		8/16/25		80,000		78,150
Raytheon Technologies Corp., Senior Notes		4.125	%		11/16/28		130,000		121,571
Raytheon Technologies Corp., Senior Notes		2.250	%		7/1/30		70,000		56,675
Raytheon Technologies Corp., Senior Notes		4.500	%		6/1/42		260,000		223,174
Total Aerospace & Defense									3,408,693

See Notes to Schedule of Investments.

    24     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Airlines - 0.7%
Delta Air Lines Inc., Senior Notes		3.800	%		4/19/23		30,000	$	29,738
Delta Air Lines Inc., Senior Notes		2.900	%		10/28/24		60,000		55,656
Delta Air Lines Inc., Senior Notes		7.375	%		1/15/26		100,000		101,250
Delta Air Lines Inc., Senior Secured Notes		7.000	%		5/1/25		850,000		856,389	(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.500	%		10/20/25		90,000		87,413	(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.750	%		10/20/28		80,000		74,618	(a)
Hawaiian Brand Intellectual Property Ltd./ HawaiianMiles Loyalty Ltd., Senior Secured Notes		5.750	%		1/20/26		810,000		715,631	(a)
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., Senior Secured Notes		6.500	%		6/20/27		85,500		83,845	(a)
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes		8.000	%		9/20/25		60,000		60,428	(a)
United Airlines Inc., Senior Secured Notes		4.375	%		4/15/26		60,000		53,654	(a)
United Airlines Inc., Senior Secured Notes		4.625	%		4/15/29		80,000		66,398	(a)
Total Airlines									2,185,020
Building Products - 0.0%††
Builders FirstSource Inc., Senior Notes		4.250	%		2/1/32		20,000		15,386	(a)
Carrier Global Corp., Senior Notes		3.577	%		4/5/50		10,000		6,941
Total Building Products									22,327
Commercial Services & Supplies - 0.1%
ADT Security Corp., Senior Secured Notes		4.125	%		8/1/29		10,000		8,321	(a)
Allied Universal Holdco LLC/Allied Universal Finance Corp., Senior Secured Notes		6.625	%		7/15/26		10,000		8,931	(a)
Cintas Corp. No 2, Senior Notes		3.700	%		4/1/27		160,000		151,871
GFL Environmental Inc., Senior Secured Notes		4.250	%		6/1/25		50,000		46,995	(a)
Republic Services Inc., Senior Notes		2.500	%		8/15/24		80,000		76,447
Total Commercial Services & Supplies									292,565
Electrical Equipment - 0.0%††
Eaton Corp., Senior Notes		4.150	%		11/2/42		20,000		16,494
Vertiv Group Corp., Senior Secured Notes		4.125	%		11/15/28		30,000		24,195	(a)
Total Electrical Equipment									40,689
Industrial Conglomerates - 0.1%
3M Co., Senior Notes		2.375	%		8/26/29		80,000		65,666
3M Co., Senior Notes		3.050	%		4/15/30		120,000		102,176

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         25

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Industrial Conglomerates - (continued)
3M Co., Senior Notes		3.700	%		4/15/50		100,000	$	72,986
General Electric Co., Senior Notes		6.750	%		3/15/32		33,000		35,692
Honeywell International Inc., Senior Notes		1.350	%		6/1/25		60,000		55,292
Total Industrial Conglomerates									331,812
Machinery - 0.1%
Deere & Co., Senior Notes		3.100	%		4/15/30		10,000		8,913
Deere & Co., Senior Notes		3.750	%		4/15/50		100,000		81,930
Otis Worldwide Corp., Senior Notes		2.056	%		4/5/25		110,000		101,869
Total Machinery									192,712
Road & Rail - 0.2%
Burlington Northern Santa Fe LLC, Senior Notes		2.875	%		6/15/52		100,000		65,574
Canadian Pacific Railway Co., Senior Notes		3.000	%		12/2/41		40,000		28,431
Canadian Pacific Railway Co., Senior Notes		3.100	%		12/2/51		200,000		131,867
Union Pacific Corp., Senior Notes		3.750	%		7/15/25		70,000		68,328
Union Pacific Corp., Senior Notes		2.891	%		4/6/36		190,000		145,146
Union Pacific Corp., Senior Notes		3.839	%		3/20/60		370,000		276,022
Union Pacific Corp., Senior Notes		3.750	%		2/5/70		40,000		28,080
XPO Logistics Inc., Senior Notes		6.250	%		5/1/25		10,000		10,042	(a)
Total Road & Rail									753,490
Trading Companies & Distributors - 0.7%
Air Lease Corp., Senior Notes		3.375	%		7/1/25		220,000		205,187
H&E Equipment Services Inc., Senior Notes		3.875	%		12/15/28		1,120,000		881,558	(a)
United Rentals North America Inc., Secured Notes		3.875	%		11/15/27		20,000		17,938
United Rentals North America Inc., Senior Notes		4.875	%		1/15/28		20,000		18,381
United Rentals North America Inc., Senior Notes		5.250	%		1/15/30		100,000		90,644
United Rentals North America Inc., Senior Notes		3.875	%		2/15/31		1,090,000		888,775
United Rentals North America Inc., Senior Notes		3.750	%		1/15/32		60,000		47,229
Total Trading Companies & Distributors									2,149,712
TOTAL INDUSTRIALS									9,377,020
INFORMATION TECHNOLOGY - 1.4%
Communications Equipment - 0.0%††
CommScope Inc., Senior Secured Notes		6.000	%		3/1/26		40,000		36,892	(a)

See Notes to Schedule of Investments.

    26     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
IT Services - 0.2%
International Business Machines Corp., Senior Notes		3.000	%		5/15/24		200,000	$	194,669
Mastercard Inc., Senior Notes		3.850	%		3/26/50		20,000		16,157
PayPal Holdings Inc., Senior Notes		1.650	%		6/1/25		70,000		64,518
Visa Inc., Senior Notes		3.150	%		12/14/25		220,000		210,234
Visa Inc., Senior Notes		4.300	%		12/14/45		190,000		165,895
Total IT Services									651,473
Semiconductors & Semiconductor Equipment - 0.5%
Broadcom Inc., Senior Notes		3.137	%		11/15/35		540,000		379,512	(a)
Intel Corp., Senior Notes		3.700	%		7/29/25		40,000		39,006
Intel Corp., Senior Notes		1.600	%		8/12/28		220,000		181,829
Intel Corp., Senior Notes		4.750	%		3/25/50		70,000		60,593
Intel Corp., Senior Notes		3.050	%		8/12/51		30,000		19,343
NVIDIA Corp., Senior Notes		2.850	%		4/1/30		140,000		120,203
NVIDIA Corp., Senior Notes		3.500	%		4/1/40		110,000		85,733
NVIDIA Corp., Senior Notes		3.500	%		4/1/50		520,000		382,299
NVIDIA Corp., Senior Notes		3.700	%		4/1/60		70,000		50,307
NXP BV/NXP Funding LLC/NXP USA Inc., Senior Notes		2.700	%		5/1/25		50,000		46,417
Texas Instruments Inc., Senior Notes		1.750	%		5/4/30		50,000		40,136
Total Semiconductors & Semiconductor Equipment									1,405,378
Software - 0.6%
Microsoft Corp., Senior Notes		2.875	%		2/6/24		200,000		196,089
Microsoft Corp., Senior Notes		2.700	%		2/12/25		70,000		67,245
Microsoft Corp., Senior Notes		2.400	%		8/8/26		80,000		74,141
Microsoft Corp., Senior Notes		3.300	%		2/6/27		220,000		209,880
Microsoft Corp., Senior Notes		3.450	%		8/8/36		5,000		4,393
Microsoft Corp., Senior Notes		2.525	%		6/1/50		110,000		72,286
Microsoft Corp., Senior Notes		2.921	%		3/17/52		245,000		173,347
Microsoft Corp., Senior Notes		2.675	%		6/1/60		8,000		5,057
Microsoft Corp., Senior Notes		3.041	%		3/17/62		42,000		28,807
Open Text Holdings Inc., Senior Notes		4.125	%		2/15/30		10,000		8,003	(a)
Open Text Holdings Inc., Senior Notes		4.125	%		12/1/31		10,000		7,547	(a)
Oracle Corp., Senior Notes		1.650	%		3/25/26		430,000		377,149
Oracle Corp., Senior Notes		2.950	%		4/1/30		10,000		8,072
Oracle Corp., Senior Notes		2.875	%		3/25/31		240,000		189,561
Salesforce Inc., Senior Notes		3.250	%		4/11/23		50,000		49,778
Salesforce Inc., Senior Notes		3.700	%		4/11/28		30,000		28,472
Workday Inc., Senior Notes		3.500	%		4/1/27		40,000		37,058

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         27

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Software - (continued)
Workday Inc., Senior Notes		3.700	%		4/1/29		160,000	$	143,691
Workday Inc., Senior Notes		3.800	%		4/1/32		400,000		347,658
Total Software									2,028,234
Technology Hardware, Storage & Peripherals - 0.1%
Apple Inc., Senior Notes		1.125	%		5/11/25		290,000		266,318
Apple Inc., Senior Notes		2.450	%		8/4/26		100,000		92,298
Total Technology Hardware, Storage & Peripherals									358,616
TOTAL INFORMATION TECHNOLOGY									4,480,593
MATERIALS - 1.1%
Chemicals - 0.1%
OCP SA, Senior Notes		3.750	%		6/23/31		200,000		152,439	(a)
Orbia Advance Corp. SAB de CV, Senior Notes		2.875	%		5/11/31		300,000		218,842	(a)
Total Chemicals									371,281
Containers & Packaging - 0.0%††
Ball Corp., Senior Notes		3.125	%		9/15/31		80,000		60,475
Metals & Mining - 0.8%
Anglo American Capital PLC, Senior Notes		3.625	%		9/11/24		300,000		290,368	(a)
Barrick North America Finance LLC, Senior Notes		5.700	%		5/30/41		270,000		257,061
BHP Billiton Finance USA Ltd., Senior Notes		5.000	%		9/30/43		250,000		237,486
First Quantum Minerals Ltd., Senior Notes		6.875	%		10/15/27		220,000		198,491	(a)
Freeport-McMoRan Inc., Senior Notes		4.550	%		11/14/24		10,000		9,860
Freeport-McMoRan Inc., Senior Notes		4.625	%		8/1/30		30,000		26,349
Freeport-McMoRan Inc., Senior Notes		5.400	%		11/14/34		40,000		35,612
Freeport-McMoRan Inc., Senior Notes		5.450	%		3/15/43		240,000		200,655
Glencore Funding LLC, Senior Notes		3.000	%		10/27/22		20,000		19,974	(a)
Glencore Funding LLC, Senior Notes		4.125	%		5/30/23		60,000		59,702	(a)
Glencore Funding LLC, Senior Notes		4.125	%		3/12/24		140,000		137,677	(a)
Glencore Funding LLC, Senior Notes		4.625	%		4/29/24		130,000		128,824	(a)
Glencore Funding LLC, Senior Notes		4.000	%		3/27/27		310,000		289,207	(a)
Glencore Funding LLC, Senior Notes		3.875	%		10/27/27		70,000		63,991	(a)
Hudbay Minerals Inc., Senior Notes		6.125	%		4/1/29		10,000		8,080	(a)
Southern Copper Corp., Senior Notes		5.250	%		11/8/42		450,000		395,244
Teck Resources Ltd., Senior Notes		6.000	%		8/15/40		10,000		8,842
Vale Overseas Ltd., Senior Notes		6.875	%		11/21/36		149,000		141,683
Total Metals & Mining									2,509,106

See Notes to Schedule of Investments.

    28     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Paper & Forest Products - 0.2%
Suzano Austria GmbH, Senior Notes		3.750	%		1/15/31		200,000	$	156,997
Suzano Austria GmbH, Senior Notes		3.125	%		1/15/32		300,000		216,351
Total Paper & Forest Products									373,348
TOTAL MATERIALS									3,314,210
REAL ESTATE - 0.0%††
Equity Real Estate Investment Trusts (REITs) - 0.0%††
CTR Partnership LP/CareTrust Capital Corp., Senior Notes		3.875	%		6/30/28		20,000		16,491	(a)
MPT Operating Partnership LP/MPT Finance Corp., Senior Notes		5.000	%		10/15/27		20,000		17,317
MPT Operating Partnership LP/MPT Finance Corp., Senior Notes		4.625	%		8/1/29		10,000		8,060
MPT Operating Partnership LP/MPT Finance Corp., Senior Notes		3.500	%		3/15/31		90,000		62,852
TOTAL REAL ESTATE									104,720
UTILITIES - 0.3%
Electric Utilities - 0.2%
American Transmission Systems Inc., Senior Notes		2.650	%		1/15/32		150,000		117,980	(a)
Berkshire Hathaway Energy Co., Senior Notes		6.125	%		4/1/36		97,000		99,415
Duke Energy Carolinas LLC, First Mortgage Bonds		5.300	%		2/15/40		110,000		104,772
FirstEnergy Corp., Senior Notes		1.600	%		1/15/26		30,000		25,967
FirstEnergy Corp., Senior Notes		4.400	%		7/15/27		200,000		186,019
FirstEnergy Corp., Senior Notes		5.350	%		7/15/47		150,000		126,905
Pacific Gas and Electric Co., First Mortgage Bonds		2.100	%		8/1/27		40,000		32,391
Pacific Gas and Electric Co., First Mortgage Bonds		2.500	%		2/1/31		50,000		36,444
Total Electric Utilities									729,893
Multi-Utilities - 0.1%
Consolidated Edison Co. of New York Inc., Senior Notes		3.350	%		4/1/30		110,000		96,794
Consolidated Edison Co. of New York Inc., Senior Notes		3.950	%		4/1/50		90,000		69,519
Total Multi-Utilities									166,313
TOTAL UTILITIES									896,206
TOTAL CORPORATE BONDS & NOTES (Cost - $121,159,736)									105,477,059

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         29

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
MORTGAGE-BACKED SECURITIES - 22.9%
FHLMC - 5.8%
Federal Home Loan Mortgage Corp. (FHLMC)		3.000	%		10/1/32-1/1/52		832,202	$	736,802
Federal Home Loan Mortgage Corp. (FHLMC)		3.500	%		4/1/33-5/1/52		924,312		845,788
Federal Home Loan Mortgage Corp. (FHLMC)		4.500	%		6/1/38-9/1/50		2,158,542		2,098,113
Federal Home Loan Mortgage Corp. (FHLMC)		5.000	%		6/1/41-7/1/52		795,046		781,519
Federal Home Loan Mortgage Corp. (FHLMC)		2.000	%		9/1/41-1/1/52		2,584,340		2,118,921
Federal Home Loan Mortgage Corp. (FHLMC)		1.500	%		10/1/41-11/1/41		167,340		133,972
Federal Home Loan Mortgage Corp. (FHLMC)		2.000	%		2/1/42		382,972		320,536	(f)
Federal Home Loan Mortgage Corp. (FHLMC)		2.500	%		4/1/42-2/1/52		7,985,042		6,774,846
Federal Home Loan Mortgage Corp. (FHLMC)		4.000	%		5/1/52-7/1/52		692,696		644,975
Federal Home Loan Mortgage Corp. (FHLMC) (12 mo. USD LIBOR + 1.619%)		2.873	%		11/1/47		126,912		122,341	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (12 mo. USD LIBOR + 1.621%)		3.083	%		2/1/50		128,977		124,052	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (12 mo. USD LIBOR + 1.628%)		3.008	%		11/1/48		258,213		245,377	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.000	%		6/1/43		1,548,982		1,475,463
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.500	%		3/1/45		292,001		269,297
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.000	%		10/1/46-5/1/47		1,572,320		1,401,642
Total FHLMC									18,093,644
FNMA - 12.1%
Federal National Mortgage Association (FNMA)		3.450	%		3/1/29		19,237		18,197
Federal National Mortgage Association (FNMA)		3.160	%		5/1/29		57,352		52,998
Federal National Mortgage Association (FNMA)		3.250	%		5/1/29		19,590		18,304
Federal National Mortgage Association (FNMA)		2.930	%		6/1/30		38,291		34,789

See Notes to Schedule of Investments.

    30     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

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Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		2.149	%		2/1/32		79,750	$	65,958	(c)
Federal National Mortgage Association (FNMA)		3.840	%		7/1/32-8/1/32		200,000		189,315
Federal National Mortgage Association (FNMA)		3.740	%		9/1/32		100,000		93,700
Federal National Mortgage Association (FNMA)		4.410	%		10/1/32		100,000		100,516	(d)(g)
Federal National Mortgage Association (FNMA)		3.500	%		12/1/34-5/1/52		3,778,692		3,452,870
Federal National Mortgage Association (FNMA)		5.500	%		12/1/34		500,000		495,234	(g)
Federal National Mortgage Association (FNMA)		3.000	%		7/1/35-6/1/52		8,753,613		7,767,933
Federal National Mortgage Association (FNMA)		2.500	%		9/1/36-9/1/61		8,849,890		7,479,460
Federal National Mortgage Association (FNMA)		4.000	%		10/1/40-6/1/57		2,442,298		2,296,176
Federal National Mortgage Association (FNMA)		2.000	%		3/1/41-3/1/52		8,162,437		6,680,986
Federal National Mortgage Association (FNMA)		6.000	%		7/1/41		33,044		34,768
Federal National Mortgage Association (FNMA)		2.000	%		12/1/41-12/1/50		496,157		406,560	(f)
Federal National Mortgage Association (FNMA)		4.500	%		6/1/47-1/1/59		1,566,699		1,509,729
Federal National Mortgage Association (FNMA)		5.000	%		11/1/48		30,150		29,852
Federal National Mortgage Association (FNMA)		1.500	%		1/1/51-3/1/51		543,665		418,918
Federal National Mortgage Association (FNMA)		2.000	%		10/1/51		2,500,000		2,024,805	(g)
Federal National Mortgage Association (FNMA)		2.500	%		10/1/51		2,100,000		1,762,482	(g)
Federal National Mortgage Association (FNMA)		3.000	%		10/1/51		1,100,000		957,730	(g)
Federal National Mortgage Association (FNMA)		3.500	%		10/1/51		1,800,000		1,620,422	(g)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         31

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		2.500	%		1/1/52		94,747	$	80,079	(f)
Federal National Mortgage Association (FNMA)		5.000	%		10/1/52		200,000		194,876	(g)
Total FNMA									37,786,657
GNMA - 5.0%
Government National Mortgage Association (GNMA)		3.000	%		9/15/42-10/15/42		101,842		91,394
Government National Mortgage Association (GNMA)		3.500	%		5/15/50		46,721		43,305
Government National Mortgage Association (GNMA) II		4.000	%		10/20/45-11/20/49		679,858		640,058
Government National Mortgage Association (GNMA) II		3.500	%		1/20/46-6/20/52		1,727,392		1,581,382
Government National Mortgage Association (GNMA) II		3.000	%		11/20/46-4/20/52		3,097,390		2,750,289
Government National Mortgage Association (GNMA) II		4.500	%		8/20/47-4/20/49		519,467		504,754
Government National Mortgage Association (GNMA) II		2.500	%		9/20/51-10/20/51		820,267		708,345
Government National Mortgage Association (GNMA) II		2.500	%		10/1/51		3,600,000		3,094,523	(g)
Government National Mortgage Association (GNMA) II		3.000	%		10/1/51		1,900,000		1,679,793	(g)
Government National Mortgage Association (GNMA) II		3.500	%		10/1/51		1,800,000		1,637,648	(g)
Government National Mortgage Association (GNMA) II		4.000	%		10/1/51		1,200,000		1,120,922	(g)
Government National Mortgage Association (GNMA) II		4.500	%		10/1/51		1,400,000		1,340,445	(g)
Government National Mortgage Association (GNMA) II		5.000	%		10/1/51-12/20/52		600,000		586,909	(g)
Total GNMA									15,779,767
TOTAL MORTGAGE-BACKED SECURITIES (Cost - $78,410,319)									71,660,068
U.S. GOVERNMENT & AGENCY OBLIGATIONS - 21.0%
U.S. Government Obligations - 21.0%
U.S. Treasury Bonds		1.125	%		8/15/40		1,980,000		1,227,677
U.S. Treasury Bonds		1.375	%		11/15/40		240,000		155,292
U.S. Treasury Bonds		1.875	%		2/15/41		690,000		489,105
U.S. Treasury Bonds		2.250	%		5/15/41		730,000		552,276

See Notes to Schedule of Investments.

    32     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

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Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
U.S. Government Obligations - (continued)
U.S. Treasury Bonds		1.750	%		8/15/41		4,530,000	$	3,100,130
U.S. Treasury Bonds		2.000	%		11/15/41		2,120,000		1,518,657
U.S. Treasury Bonds		3.625	%		8/15/43		80,000		74,669
U.S. Treasury Bonds		2.000	%		2/15/50		880,000		605,103
U.S. Treasury Bonds		1.250	%		5/15/50		3,180,000		1,781,359
U.S. Treasury Bonds		1.375	%		8/15/50		3,540,000		2,051,817
U.S. Treasury Bonds		1.625	%		11/15/50		2,590,000		1,609,240
U.S. Treasury Bonds		1.875	%		2/15/51		3,460,000		2,291,980
U.S. Treasury Bonds		2.375	%		5/15/51		750,000		561,445
U.S. Treasury Bonds		2.000	%		8/15/51		1,570,000		1,073,119
U.S. Treasury Bonds		1.875	%		11/15/51		301,000		199,189
U.S. Treasury Bonds		2.250	%		2/15/52		9,873,000		7,176,437
U.S. Treasury Bonds		2.875	%		5/15/52		4,230,000		3,548,574
U.S. Treasury Bonds		3.000	%		8/15/52		2,670,000		2,304,961
U.S. Treasury Notes		0.250	%		11/15/23		10,000		9,561
U.S. Treasury Notes		2.500	%		4/30/24		3,280,000		3,189,031
U.S. Treasury Notes		0.250	%		5/31/25		60,000		53,978
U.S. Treasury Notes		0.250	%		6/30/25		390,000		350,109
U.S. Treasury Notes		0.375	%		1/31/26		1,530,000		1,347,954
U.S. Treasury Notes		0.750	%		3/31/26		310,000		275,331
U.S. Treasury Notes		1.125	%		10/31/26		220,000		195,104
U.S. Treasury Notes		1.250	%		12/31/26		20,000		17,769
U.S. Treasury Notes		2.750	%		4/30/27		4,990,000		4,710,287
U.S. Treasury Notes		0.750	%		1/31/28		3,560,000		2,997,770
U.S. Treasury Notes		1.250	%		3/31/28		1,540,000		1,328,190
U.S. Treasury Notes		1.250	%		4/30/28		6,000,000		5,163,516
U.S. Treasury Notes		1.000	%		7/31/28		1,690,000		1,423,891
U.S. Treasury Notes		1.125	%		8/31/28		1,920,000		1,625,925
U.S. Treasury Notes		2.875	%		4/30/29		2,060,000		1,923,525
U.S. Treasury Notes		2.750	%		5/31/29		2,500,000		2,315,723
U.S. Treasury Notes		3.125	%		8/31/29		2,600,000		2,468,172
U.S. Treasury Notes		1.625	%		5/15/31		1,740,000		1,461,056
U.S. Treasury Notes		1.375	%		11/15/31		10,000		8,128
U.S. Treasury Notes		1.875	%		2/15/32		4,720,000		4,000,569
U.S. Treasury Notes		2.750	%		8/15/32		10,000		9,145
U.S. Treasury Strip Principal (STRIPS)		0.000	%		5/15/49		950,000		352,196
TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost - $79,272,718)									65,547,960

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         33

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(h) - 8.3%
280 Park Avenue Mortgage Trust, 2017- 280P F (1 mo. USD LIBOR + 2.827%)		5.532	%		9/15/34		410,000	$	376,395	(a)(c)
Angel Oak Mortgage Trust, 2022-3 A3		4.178	%		1/25/67		614,709		538,958	(a)(c)
BANK, 2017-BNK5 A5		3.390	%		6/15/60		640,000		587,956
BANK, 2017-BNK7 A5		3.435	%		9/15/60		190,000		174,438
BANK, 2017-BNK7 XA, IO		0.853	%		9/15/60		2,985,684		79,234	(c)
BCAP LLC Trust, 2015-RR6 1A2		3.500	%		5/26/37		216,845		215,195	(a)(c)
Benchmark Mortgage Trust, 2020-IG1 AS		2.909	%		9/15/43		500,000		399,096	(c)
Benchmark Mortgage Trust, 2022-B32 XA, IO		0.562	%		1/15/55		4,118,195		99,400	(c)
BPR Trust, 2021-TY A (1 mo. USD LIBOR + 1.050%)		3.868	%		9/15/38		170,000		161,875	(a)(c)
BRAVO Residential Funding Trust, 2021-NQM2 A1		0.970	%		3/25/60		44,874		42,627	(a)(c)
Chevy Chase Funding LLC Mortgage-Backed Certificates, 2004-2A B1		2.702	%		5/25/35		126,135		99,664	(a)(c)
Chevy Chase Funding LLC Mortgage-Backed Certificates, 2004-3A A1 (1 mo. USD LIBOR + 0.250%)		3.334	%		8/25/35		270,448		249,298	(a)(c)
Chevy Chase Funding LLC Mortgage-Backed Certificates, 2004-3A A2 (1 mo. USD LIBOR + 0.300%)		3.384	%		8/25/35		295,098		272,709	(a)(c)
CIM Trust, 2021-R6 A1		1.425	%		7/25/61		84,614		74,792	(a)(c)
Cold Storage Trust, 2020-ICE5 A (1 mo. USD LIBOR + 0.900%)		3.718	%		11/15/37		589,794		575,231	(a)(c)
CSAIL Commercial Mortgage Trust, 2017-C8 C		4.438	%		6/15/50		500,000		421,550	(c)
CSMC OA LLC, 2014-USA F		4.373	%		9/15/37		640,000		441,398	(a)
CSMC Trust, 2017-CHOP G (1 mo. USD LIBOR + 5.350%)		8.168	%		7/15/32		714,000		639,699	(a)(c)
CSMC Trust, 2018-J1 A2		3.500	%		2/25/48		287,269		254,097	(a)(c)
CSMC Trust, 2019-AFC1 A1, Step bond (2.573% to 8/25/23 then 3.573%)		2.573	%		7/25/49		105,579		98,388	(a)
CSMC Trust, 2019-RIO A (1 mo. USD LIBOR + 3.024%)		5.842	%		12/15/22		476,807		476,158	(a)(c)
CSMC Trust, 2021-AFC1 A1		0.830	%		3/25/56		69,822		57,606	(a)(c)
CSMC Trust, 2021-NQM3 A3		1.632	%		4/25/66		76,432		63,906	(a)(c)
CSMC Trust, 2021-NQM7 A1		1.756	%		10/25/66		111,449		92,916	(a)(c)
CSMC Trust, 2021-NQM8 A1		1.841	%		10/25/66		672,168		565,784	(a)(c)
CSMC Trust, 2021-RPL2 A1		2.000	%		1/25/60		77,218		66,775	(a)(c)

See Notes to Schedule of Investments.

    34     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(h) - (continued)
CSMC Trust, 2021-RPL6 A1		2.000	%		10/25/60		91,723	$	80,908	(a)(c)
DBJPM Mortgage Trust, 2016-C3 A5		2.890	%		8/10/49		500,000		456,315
Ellington Financial Mortgage Trust, 2021-2 A1		0.931	%		6/25/66		86,055		72,063	(a)(c)
Ellington Financial Mortgage Trust, 2022-1 A2		3.001	%		1/25/67		120,000		87,984	(a)(c)
ELP Commercial Mortgage Trust, 2021-ELP A (1 mo. USD LIBOR + 0.701%)		3.519	%		11/15/38		120,000		114,498	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K736 X1, IO		1.414	%		7/25/26		972,328		37,643	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K1517 X1, IO		1.443	%		7/25/35		139,722		16,023	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3281 AI, IO (-1.000 x 1 mo. USD LIBOR + 6.430%)		3.612	%		2/15/37		1,426,359		126,321	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 IK, IO		2.500	%		9/25/50		70,570		10,573
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 JI, IO		2.500	%		9/25/50		166,683		26,256
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5013 IN, IO		2.500	%		9/25/50		87,426		13,852
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5018 MI, IO		2.000	%		10/25/50		87,615		12,086
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5140 NI, IO		2.500	%		5/25/49		187,480		26,031
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5224 HL		4.000	%		4/25/52		100,000		91,205
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5230 PE		2.000	%		12/25/51		300,000		235,309
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5071 IH, IO		2.500	%		2/25/51		538,361		71,079
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2020-DNA2 M2 (1 mo. USD LIBOR + 1.850%)		4.934	%		2/25/50		114,991		113,287	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA1 M2 (30 Day Average SOFR + 1.800%)		4.081	%		1/25/51		106,002		101,399	(a)(c)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         35

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(h) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA2 M1A (30 Day Average SOFR + 1.300%)		3.581	%		2/25/42		217,618	$	213,854	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA4 M1A (30 Day Average SOFR + 2.200%)		4.481	%		5/25/42		583,640		578,768	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 328 S4, IO		0.074	%		2/15/38		24,401		919	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2017-HRP1 B1 (1 mo. USD LIBOR + 4.600%)		7.684	%		12/25/42		670,000		659,929	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2021-DNA2 M2 (30 Day Average SOFR + 2.300%)		4.581	%		8/25/33		110,000		106,694	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2022-DNA1 M1B (30 Day Average SOFR + 1.850%)		4.131	%		1/25/42		490,000		445,843	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2018-C05 1B1 (1 mo. USD LIBOR + 4.250%)		7.334	%		1/25/31		200,000		203,312	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2020-R01 1M2 (1 mo. USD LIBOR + 2.050%)		5.134	%		1/25/40		44,085		43,473	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2021-R03 1 M2 (30 Day Average SOFR + 1.650%)		3.931	%		12/25/41		520,000		474,749	(a)(c)
Federal National Mortgage Association (FNMA) ACES, 2013-M6 1AC		3.454	%		2/25/43		49,332		46,307	(c)
Federal National Mortgage Association (FNMA) ACES, 2018-M9 APT2		3.218	%		4/25/28		93,653		87,544	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M23 3A3		2.720	%		10/25/31		183,496		160,440	(c)
Federal National Mortgage Association (FNMA) REMIC, 2015-55 IO, IO		0.000	%		8/25/55		206,944		6,559	(c)
Federal National Mortgage Association (FNMA) REMIC, 2015-65 CZ		3.500	%		9/25/45		128,089		110,520

See Notes to Schedule of Investments.

    36     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

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Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(h) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2020-47 GZ		2.000	%		7/25/50		104,599	$	62,697
Federal National Mortgage Association (FNMA) REMIC, 2020-56 AQ		2.000	%		8/25/50		600,000		474,472
Federal National Mortgage Association (FNMA) REMIC, 2020-56 DI, IO		2.500	%		8/25/50		80,802		12,990
Federal National Mortgage Association (FNMA) REMIC, 2020-96 IN, IO		3.000	%		1/25/51		753,729		125,590
Flagstar Mortgage Trust, 2018-2 A4		3.500	%		4/25/48		4,378		4,313	(a)(c)
Freddie Mac Multiclass Certificates Series, 2020-RR07 BX, IO		2.608	%		10/1/28		3,000,000		363,100
Government National Mortgage Association (GNMA), 2012-34 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.050%)		3.036	%		3/20/42		373,166		39,281	(c)
Government National Mortgage Association (GNMA), 2012-43 SN, IO (-1.000 x 1 mo. USD LIBOR + 6.600%)		3.661	%		4/16/42		196,582		24,494	(c)
Government National Mortgage Association (GNMA), 2013-101 IO, IO		0.220	%		10/16/54		2,377,022		30,810	(c)
Government National Mortgage Association (GNMA), 2013-107 AD		2.849	%		11/16/47		39,321		36,056	(c)
Government National Mortgage Association (GNMA), 2014-17 AM		3.537	%		6/16/48		4,157		4,005	(c)
Government National Mortgage Association (GNMA), 2014-186 IO, IO		0.375	%		8/16/54		345,854		4,031	(c)
Government National Mortgage Association (GNMA), 2015-167 OI, IO		4.000	%		4/16/45		121,271		19,989
Government National Mortgage Association (GNMA), 2016-84 IG, IO, PAC		4.500	%		11/16/45		890,607		184,623
Government National Mortgage Association (GNMA), 2016-135 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		3.161	%		10/16/46		262,268		36,835	(c)
Government National Mortgage Association (GNMA), 2020-103 AD		1.450	%		1/16/63		480,243		389,180
Government National Mortgage Association (GNMA), 2020-123 NI, IO		2.500	%		8/20/50		82,016		11,384
Government National Mortgage Association (GNMA), 2020-127 IN, IO		2.500	%		8/20/50		81,775		12,023
Government National Mortgage Association (GNMA), 2020-129 IE, IO		2.500	%		9/20/50		84,905		12,625

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         37

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(h) - (continued)
Government National Mortgage Association (GNMA), 2020-160 YI, IO		2.500	%		10/20/50		172,422	$	23,595
Government National Mortgage Association (GNMA), 2020-175 GI, IO		2.000	%		11/20/50		326,863		34,902
Government National Mortgage Association (GNMA), 2020-H04 FP (1 mo. USD LIBOR + 0.500%)		2.857	%		6/20/69		192,178		189,620	(c)
Government National Mortgage Association (GNMA), 2020-H09 FL (1 mo. USD LIBOR + 1.150%)		2.883	%		5/20/70		129,926		129,423	(c)
Government National Mortgage Association (GNMA), 2020-H09 NF (1 mo. USD LIBOR + 1.250%)		3.607	%		4/20/70		63,293		63,831	(c)
Government National Mortgage Association (GNMA), 2021-57 BI, IO		3.000	%		3/20/51		1,489,392		220,595
Government National Mortgage Association (GNMA), 2021-96 VI, IO		2.500	%		6/20/51		935,362		140,421
Government National Mortgage Association (GNMA), 2021-176 IN, IO		2.500	%		10/20/51		1,121,789		153,459
Government National Mortgage Association (GNMA), 2022-3 IO, IO		0.640	%		2/16/61		296,364		16,505	(c)
Government National Mortgage Association (GNMA), 2022-63 LM		3.500	%		10/20/50		300,000		256,760
Government National Mortgage Association (GNMA), 2022-113 Z		2.000	%		9/16/61		2,211,018		1,492,890
Government National Mortgage Association (GNMA), 2022-139 AL		4.000	%		7/20/51		300,000		278,658
GS Mortgage Securities Corp. II, 2018-SRP5 A (1 mo. USD LIBOR + 1.800%)		4.618	%		9/15/31		487,055		414,087	(a)(c)
GS Mortgage Securities Corp. II, 2018-SRP5 B (1 mo. USD LIBOR + 3.000%)		5.818	%		9/15/31		487,055		380,471	(a)(c)
GS Mortgage Securities Corp. Trust, 2021-ROSS A (1 mo. USD LIBOR + 1.150%)		3.968	%		5/15/26		290,000		271,841	(a)(c)
ILPT Commercial Mortgage Trust, 2022-LPF2 A (1 mo. Term SOFR + 2.245%)		4.495	%		10/15/39		810,000		809,519	(a)(c)
JPMorgan Chase Commercial Mortgage Securities Trust, 2015-FL7 D (1 mo. USD LIBOR + 3.750%)		6.568	%		5/15/28		114,920		106,237	(a)(c)
JPMorgan Chase Commercial Mortgage Securities Trust, 2016-JP2 A4		2.822	%		8/15/49		200,000		182,731
JPMorgan Mortgage Trust, 2018-5 A1		3.500	%		10/25/48		72,978		65,359	(a)(c)

See Notes to Schedule of Investments.

    38     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(h) - (continued)
Legacy Mortgage Asset Trust, 2021-GS5 A1		2.250	%		7/25/67		102,977	$	94,835	(a)
MHC Trust, 2021-MHC2 A (1 mo. USD LIBOR + 0.850%)		3.668	%		5/15/38		110,000		106,307	(a)(c)
Morgan Stanley Capital I Trust, 2007-IQ16 AJ		6.282	%		12/12/49		13,789		6,701	(c)
Morgan Stanley Capital I Trust, 2017-ASHF A (1 mo. USD LIBOR + 0.850%)		3.668	%		11/15/34		272,115		266,182	(a)(c)
Morgan Stanley Capital I Trust, 2017-H1 C		4.281	%		6/15/50		250,000		221,228	(c)
Morgan Stanley Capital I Trust, 2019-BPR A (1 mo. USD LIBOR + 1.650%)		4.468	%		5/15/36		289,340		282,292	(a)(c)
Mortgage Repurchase Agreement Financing Trust, 2022-S1 A1 (30 Day Average SOFR + 2.000%)		4.637	%		3/30/25		460,000		460,000	(a)(c)(d)
MTN Commercial Mortgage Trust, 2022-LPFL A (1 mo. Term SOFR + 1.397%)		4.242	%		3/15/39		240,000		233,890	(a)(c)
New Residential Mortgage Loan Trust, 2016-4A A1		3.750	%		11/25/56		382,525		356,453	(a)(c)
New Residential Mortgage Loan Trust, 2017-6A A1		4.000	%		8/27/57		233,865		221,885	(a)(c)
New Residential Mortgage Loan Trust, 2018-RPL1 M2		3.500	%		12/25/57		240,000		201,958	(a)(c)
New Residential Mortgage Loan Trust, 2019-RPL3 A1		2.750	%		7/25/59		69,149		65,070	(a)(c)
New Residential Mortgage Loan Trust, 2021-NQM3 A1		1.156	%		11/27/56		76,105		65,395	(a)(c)
OBX Trust, 2021-NQM2 A3		1.563	%		5/25/61		79,518		66,332	(a)(c)
OBX Trust, 2022-NQM1 A2		3.001	%		11/25/61		500,000		380,882	(a)(c)
OBX Trust, 2021-NQM2 A1		1.101	%		5/25/61		205,421		169,649	(a)(c)
OBX Trust, 2021-NQM3 A1		1.054	%		7/25/61		114,918		92,246	(a)(c)
PRKCM Trust, 2021-AFC1 A1		1.510	%		8/25/56		209,649		173,424	(a)(c)
PRKCM Trust, 2021-AFC2 A1		2.071	%		11/25/56		428,962		356,150	(a)(c)
PRKCM Trust, 2022-AFC1 A1A		4.100	%		4/25/57		635,892		595,761	(a)(c)
SFO Commercial Mortgage Trust, 2021-555 A (1 mo. USD LIBOR + 1.150%)		3.968	%		5/15/38		140,000		133,355	(a)(c)
SREIT Trust, 2021-MFP2 A (1 mo. USD LIBOR + 0.822%)		3.640	%		11/15/36		120,000		115,098	(a)(c)
Towd Point Mortgage Trust, 2019-HY2 A1 (1 mo. USD LIBOR + 1.000%)		4.084	%		5/25/58		583,239		573,105	(a)(c)
Towd Point Mortgage Trust, 2016-3 B1		4.098	%		4/25/56		110,000		104,769	(a)(c)
Towd Point Mortgage Trust, 2017-4 B2		3.396	%		6/25/57		250,000		200,705	(a)(c)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         39

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(h) - (continued)
Towd Point Mortgage Trust, 2017-6 A1		2.750	%		10/25/57		329,142	$	316,473	(a)(c)
Towd Point Mortgage Trust, 2017-6 M1		3.250	%		10/25/57		200,000		177,476	(a)(c)
TTAN, 2021-MHC A (1 mo. USD LIBOR + 0.850%)		3.668	%		3/15/38		528,318		510,538	(a)(c)
VLS Commercial Mortgage Trust, 2020-LAB B		2.453	%		10/10/42		210,000		159,612	(a)
Waterfall Commercial Mortgage Trust, 2015-SBC5 A		4.104	%		1/14/26		27,790		26,287	(a)(c)
Wells Fargo Commercial Mortgage Trust, 2017-RB1 XA, IO		1.334	%		3/15/50		1,886,394		75,679	(c)
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost - $28,420,220)									25,846,027
SENIOR LOANS - 5.7%
COMMUNICATION SERVICES - 0.7%
Diversified Telecommunication Services - 0.1%
Level 3 Financing Inc., 2027 Term Loan B (1 mo. USD LIBOR + 1.750%)		4.865	%		3/1/27		182,433		173,724	(c)(i)(j)
Zayo Group Holdings Inc., Initial Dollar Term Loan (1 mo. USD LIBOR + 3.000%)		6.115	%		3/9/27		130,000		109,266	(c)(i)(j)
Total Diversified Telecommunication Services									282,990
Interactive Media & Services - 0.0%††
Rackspace Technology Global Inc., Term Loan B (3 mo. USD LIBOR + 2.750%)		5.617	%		2/15/28		118,100		84,922	(c)(i)(j)
Media - 0.6%
Charter Communications Operating LLC, Term Loan B1 (1 mo. USD LIBOR + 1.750%)		4.870	%		4/30/25		295,839		291,295	(c)(i)(j)
Charter Communications Operating LLC, Term Loan B2 (1 mo. USD LIBOR + 1.750%)		4.870	%		2/1/27		38,897		37,520	(c)(i)(j)
iHeartCommunications Inc., New Term Loan (1 mo. USD LIBOR + 3.000%)		6.115	%		5/1/26		164,138		154,612	(c)(i)(j)
Nexstar Broadcasting Inc., Term Loan B4 (1 mo. USD LIBOR + 2.500%)		5.615	%		9/18/26		319,870		316,271	(c)(i)(j)
Numericable U.S. LLC, USD Term Loan B12 (3 mo. USD LIBOR + 3.688%)		6.200	%		1/31/26		126,840		115,424	(c)(e)(i)(j)
Terrier Media Buyer Inc., 2021 Refinancing Term Loan B (1 mo. USD LIBOR + 3.500%)		6.615	%		12/17/26		164,614		154,601	(c)(i)(j)
Univision Communications Inc., 2021 Replacement Term Loan (1 mo. USD LIBOR + 3.250%)		6.365	%		3/15/26		139,980		133,178	(c)(i)(j)

See Notes to Schedule of Investments.

    40     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Virgin Media Bristol LLC, Term Loan Facility N (1 mo. USD LIBOR + 2.500%)		5.318	%		1/31/28		280,000	$	267,905	(c)(i)(j)
Ziggo Financing Partnership, Term Loan I (1 mo. USD LIBOR + 2.500%)		5.318	%		4/30/28		200,000		191,300	(c)(i)(j)
Total Media									1,662,106
Wireless Telecommunication Services - 0.0%††
CSC Holdings LLC, 2018 Incremental Term Loan (1 mo. USD LIBOR + 2.250%)		5.068	%		1/15/26		39,489		37,070	(c)(i)(j)
CSC Holdings LLC, 2019 Term Loan (1 mo. USD LIBOR + 2.500%)		5.318	%		4/15/27		39,000		36,587	(c)(i)(j)
Total Wireless Telecommunication Services									73,657
TOTAL COMMUNICATION SERVICES									2,103,675
CONSUMER DISCRETIONARY - 1.0%
Auto Components - 0.1%
Clarios Global LP, First Lien Amendment No. 1 Dollar Term Loan (1 mo. USD LIBOR + 3.250%)		6.365	%		4/30/26		191,274		181,511	(c)(i)(j)
Diversified Consumer Services - 0.1%
Prime Security Services Borrower LLC, 2021 Refinancing Term Loan B1 (3 mo. USD LIBOR + 2.750%)		6.505	%		9/23/26		406,278		394,439	(c)(i)(j)
Hotels, Restaurants & Leisure - 0.7%
1011778 BC Unlimited Liability Co., Term Loan B4 (1 mo. USD LIBOR + 1.750%)		4.871	%		11/19/26		181,512		174,008	(c)(i)(j)
Alterra Mountain Co., 2028 Term Loan B (1 mo. USD LIBOR + 3.500%)		6.615	%		8/17/28		67,182		65,292	(c)(i)(j)
Caesars Resort Collection LLC, Term Loan B (1 mo. USD LIBOR + 2.750%)		5.865	%		12/23/24		517,026		505,985	(c)(i)(j)
Caesars Resort Collection LLC, Term Loan B1 (1 mo. USD LIBOR + 3.500%)		6.615	%		7/21/25		84,083		83,045	(c)(i)(j)
Entain Holdings Gibraltar Ltd., Term Loan Facility B (3 mo. USD LIBOR + 2.500%)		6.174	%		3/29/27		49,375		48,202	(c)(i)(j)
Four Seasons Hotels Ltd., Restated Term Loan (1 mo. USD LIBOR + 2.000%)		5.121	%		11/30/23		114,795		114,416	(c)(i)(j)
Hilton Worldwide Finance LLC, Refinance Term Loan B2 (1 mo. USD LIBOR + 1.750%)		4.809	%		6/22/26		498,276		482,601	(c)(i)(j)
PCI Gaming Authority, Term Loan Facility B (1 mo. USD LIBOR + 2.500%)		5.615	%		5/29/26		72,814		70,923	(c)(i)(j)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         41

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Hotels, Restaurants & Leisure - (continued)
Scientific Games International Inc., Initial Term Loan B (1 mo. Term SOFR + 3.000%)		5.906	%		4/13/29		199,500	$	194,313	(c)(i)(j)
Station Casinos LLC, Term Loan Facility B1 (1 mo. USD LIBOR + 2.250%)		5.370	%		2/8/27		495,861		475,560	(c)(i)(j)
Total Hotels, Restaurants & Leisure									2,214,345
Specialty Retail - 0.1%
Great Outdoors Group LLC, Term Loan B2 (1 mo. USD LIBOR + 3.750%)		6.865	%		3/6/28		58,954		54,680	(c)(i)(j)
Harbor Freight Tools USA Inc., 2021 Refinancing Term Loan (1 mo. USD LIBOR + 2.750%)		5.865	%		10/19/27		108,124		98,245	(c)(i)(j)
Petco Health and Wellness Co. Inc., First Lien Initial Term Loan (3 mo. USD LIBOR + 3.250%)		6.924	%		3/3/28		88,352		83,672	(c)(i)(j)
Total Specialty Retail									236,597
TOTAL CONSUMER DISCRETIONARY									3,026,892
CONSUMER STAPLES - 0.1%
Beverages - 0.1%
Triton Water Holdings Inc., First Lien Initial Term Loan (3 mo. USD LIBOR + 3.500%)		7.174	%		3/31/28		167,875		151,484	(c)(i)(j)
Food & Staples Retailing - 0.0%††
Froneri U.S. Inc., Term Loan Facility B2 (1 mo. USD LIBOR + 2.250%)		5.365	%		1/29/27		87,975		83,257	(c)(i)(j)
Household Products - 0.0%††
Energizer Holdings Inc., Term Loan (1 mo. USD LIBOR + 2.250%)		5.313	%		12/22/27		49,250		47,219	(c)(i)(j)
TOTAL CONSUMER STAPLES									281,960
ENERGY - 0.1%
Oil, Gas & Consumable Fuels - 0.1%
Pilot Travel Centers LLC, Initial Term Loan B (1 mo. Term SOFR + 2.100%)		5.134	%		8/4/28		366,300		351,518	(c)(i)(j)
FINANCIALS - 0.9%
Capital Markets - 0.1%
Allspring Buyer LLC, Term Loan (3 mo. USD LIBOR + 3.000%)		6.688	%		11/1/28		84,575		82,323	(c)(i)(j)
First Eagle Holdings Inc., 2018 Refinancing Term Loan B (3 mo. USD LIBOR + 2.500%)		6.174	%		2/1/27		46,745		44,336	(c)(i)(j)
Focus Financial Partners LLC, Term Loan B3 (1 mo. USD LIBOR + 2.000%)		5.115	%		7/3/24		125,684		122,839	(c)(i)(j)
Total Capital Markets									249,498

See Notes to Schedule of Investments.

    42     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Diversified Financial Services - 0.7%
Castlelake Aviation One Designated Activity Co., Initial Term Loan (3 mo. USD LIBOR + 2.750%)		6.043	%		10/22/26		496,293	$	480,680	(c)(i)(j)
Citadel Securities LP, 2021 Term Loan (1 mo. Term SOFR + 2.614%)		5.649	%		2/2/28		157,156		153,038	(c)(i)(j)
Deerfield Dakota Holding LLC, First Lien Initial Dollar Term Loan (1 mo. Term SOFR + 3.750%)		6.784	%		4/9/27		494,321		467,547	(c)(i)(j)
Hudson River Trading LLC, Term Loan (3 mo. Term SOFR + 3.262%)		6.164	%		3/20/28		38,903		35,348	(c)(i)(j)
Jane Street Group LLC, Dollar Term Loan (1 mo. USD LIBOR + 2.750%)		5.865	%		1/26/28		495,153		475,914	(c)(i)(j)
Setanta Aircraft Leasing DAC, Term Loan (3 mo. USD LIBOR + 2.000%)		5.674	%		11/5/28		490,000		479,587	(c)(i)(j)
UFC Holdings LLC, Term Loan B3 (3 mo. USD LIBOR + 2.750%)		5.520	%		4/29/26		174,791		168,455	(c)(i)(j)
VFH Parent LLC, Initial Term Loan (1 mo. Term SOFR + 3.000%)		6.118	%		1/13/29		80,000		76,875	(c)(i)(j)
Total Diversified Financial Services									2,337,444
Insurance - 0.1%
AmWINS Group Inc., Term Loan (1 mo. USD LIBOR + 2.250%)		5.365	%		2/19/28		98,251		94,226	(c)(i)(j)
Asurion LLC, New Term Loan B7 (1 mo. USD LIBOR + 3.000%)		6.115	%		11/3/24		115,623		108,468	(c)(i)(j)
Asurion LLC, New Term Loan B8 (1 mo. USD LIBOR + 3.250%)		6.365	%		12/23/26		158,951		135,209	(c)(i)(j)
Asurion LLC, New Term Loan B9 (1 mo. USD LIBOR + 3.250%)		6.365	%		7/31/27		68,950		58,366	(c)(i)(j)
Asurion LLC, Term Loan B10 (3 mo. Term SOFR + 4.100%)		7.134	%		8/21/28		14,097		12,062	(c)(i)(j)
Total Insurance									408,331
TOTAL FINANCIALS									2,995,273
HEALTH CARE - 1.2%
Health Care Equipment & Supplies - 0.1%
Medline Borrower LP, Initial Dollar Term Loan (1 mo. USD LIBOR + 3.250%)		6.365	%		10/23/28		497,500		458,399	(c)(i)(j)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         43

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - 0.5%
EyeCare Partners LLC, First Lien Initial Term Loan (3 mo. USD LIBOR + 3.750%)		7.424	%		2/18/27		58,592	$	53,355	(c)(i)(j)
Grifols Worldwide Operations USA Inc., Dollar Term Loan B (1 mo. USD LIBOR + 2.000%)		5.115	%		11/15/27		499,904		475,638	(c)(i)(j)
LifePoint Health Inc., First Lien Term Loan B (1 mo. USD LIBOR + 3.750%)		6.871	%		11/16/25		118,785		110,746	(c)(i)(j)
Phoenix Guarantor Inc., Term Loan B1 (1 mo. USD LIBOR + 3.250%)		6.365	%		3/5/26		495,087		470,422	(c)(i)(j)
Phoenix Guarantor Inc., Term Loan B3 (1 mo. USD LIBOR + 3.500%)		6.615	%		3/5/26		137,900		131,381	(c)(i)(j)
Phoenix Newco Inc., First Lien Initial Term Loan (1 mo. USD LIBOR + 3.250%)		6.365	%		11/15/28		79,600		76,142	(c)(i)(j)
Sterigenics-Nordion Holdings LLC, Term Loan (1 mo. USD LIBOR + 2.750%)		5.865	%		12/11/26		290,000		256,650	(c)(i)(j)
Total Health Care Providers & Services									1,574,334
Health Care Technology - 0.2%
AthenaHealth Group Inc., Initial Delayed Draw Term Loan			%		2/15/29		91,304		82,037	(k)
AthenaHealth Group Inc., Initial Term Loan (1 mo. Term SOFR + 3.500%)		6.576	%		2/15/29		537,349		482,808	(c)(i)(j)
Change Healthcare Holdings LLC, Closing Date Term Loan (3 mo. USD LIBOR + 1.500%)		7.750	%		3/1/24		155,510		155,229	(c)(i)(j)
Total Health Care Technology									720,074
Life Sciences Tools & Services - 0.1%
ICON Luxembourg Sarl, Term Loan (3 mo. USD LIBOR + 2.250%)		5.938	%		7/3/28		134,162		131,438	(c)(i)(j)
PRA Health Sciences Inc., Term Loan (3 mo. USD LIBOR + 2.250%)		5.938	%		7/3/28		33,427		32,748	(c)(i)(j)
Total Life Sciences Tools & Services									164,186
Pharmaceuticals - 0.3%
Gainwell Acquisition Corp., Term Loan B (3 mo. USD LIBOR + 4.000%)		7.674	%		10/1/27		484,780		463,208	(c)(i)(j)
Horizon Therapeutics USA Inc., Incremental Term Loan B2 (1 mo. USD LIBOR + 1.750%)		4.875	%		3/15/28		58,304		56,136	(c)(i)(j)
Jazz Financing Lux Sarl, Initial Dollar Term Loan (1 mo. USD LIBOR + 3.500%)		6.615	%		5/5/28		438,206		424,393	(c)(i)(j)
Total Pharmaceuticals									943,737
TOTAL HEALTH CARE									3,860,730

See Notes to Schedule of Investments.

    44     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
INDUSTRIALS - 1.0%
Aerospace & Defense - 0.0%††
Avolon TLB Borrower 1 (US) LLC, Term Loan B5 (1 mo. USD LIBOR + 2.250%)		5.264	%		12/1/27		58,950	$	57,565	(c)(i)(j)
Transdigm Inc., Refinancing Term Loan F (3 mo. USD LIBOR + 2.250%)		5.924	%		12/9/25		9,823		9,435	(c)(i)(j)
Total Aerospace & Defense									67,000
Airlines - 0.1%
Air Canada, Term Loan (3 mo. USD LIBOR + 3.500%)		6.421	%		8/11/28		79,800		76,088	(c)(i)(j)
United Airlines Inc., Term Loan B (3 mo. USD LIBOR + 3.750%)		6.533	%		4/21/28		157,600		151,088	(c)(i)(j)
Total Airlines									227,176
Building Products - 0.2%
Hunter Douglas Holding BV, Term Loan B1 (3 mo. Term SOFR + 3.500%)		6.340	%		2/26/29		518,700		429,484	(c)(i)(j)
Quikrete Holdings Inc., Fourth Amendment Term Loan B1 (1 mo. USD LIBOR + 3.000%)		6.115	%		6/9/28		89,550		86,385	(c)(i)(j)
Total Building Products									515,869
Commercial Services & Supplies - 0.5%
Ali Group North America Corp., Initial Term Loan B (1 mo. Term SOFR + 2.114%)		5.149	%		7/30/29		454,444		439,561	(c)(i)(j)
Allied Universal Holdco LLC, USD Term Loan (1 mo. USD LIBOR + 3.750%)		6.784	%		5/12/28		500,349		441,246	(c)(i)(j)
APi Group DE Inc., Initial Term Loan (1 mo. USD LIBOR + 0.000%)		3.115	%		10/1/26		169,756		165,894	(c)(i)(j)
Garda World Security Corp., Term Loan B2 (3 mo. USD LIBOR + 4.250%)		7.240	%		10/30/26		48,095		45,382	(c)(i)(j)
GFL Environmental Inc., 2020 Term Loan (3 mo. USD LIBOR + 3.000%)		5.806	%		5/30/25		152,801		151,436	(c)(i)(j)
Verscend Holding Corp., New Term Loan B (1 mo. USD LIBOR + 4.000%)		7.115	%		8/27/25		357,281		347,455	(c)(i)(j)
Total Commercial Services & Supplies									1,590,974
Construction & Engineering - 0.0%††
Brown Group Holding LLC, Initial Term Loan (1 mo. USD LIBOR + 2.500%)		5.615	%		6/7/28		118,716		113,126	(c)(i)(j)
Electrical Equipment - 0.0%††
Brookfield WEC Holdings Inc., Refinancing Term Loan 2 (1 mo. USD LIBOR + 2.750%)		5.865	%		8/1/25		48,209		46,214	(c)(i)(j)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         45

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Road & Rail - 0.2%
Genesee & Wyoming Inc., Initial Term Loan (3 mo. USD LIBOR + 2.000%)		5.674	%		12/30/26		492,540	$	480,227	(c)(i)(j)
XPO Logistics Inc., Refinancing Term Loan (1 mo. USD LIBOR + 1.750%)		4.936	%		2/24/25		110,000		107,310	(c)(i)(j)
Total Road & Rail									587,537
TOTAL INDUSTRIALS									3,147,896
INFORMATION TECHNOLOGY - 0.6%
Electronic Equipment, Instruments & Components - 0.1%
II-VI Inc., Term Loan B		5.878	%		7/2/29		160,000		155,334	(c)(i)(j)
IT Services - 0.0%††
FleetCor Technologies Operating Co. LLC, Term Loan B4 (1 mo. USD LIBOR + 1.750%)		4.865	%		4/28/28		88,876		85,901	(c)(i)(j)
Software - 0.5%
Cloudera Inc., Term Loan (1 mo. USD LIBOR + 3.750%)		6.865	%		10/8/28		69,650		61,466	(c)(e)(i)(j)
DCert Buyer Inc., First Lien Initial Term Loan (3 mo. Term SOFR + 4.000%)		6.903	%		10/16/26		492,762		471,477	(c)(i)(j)
Magenta Buyer LLC, First Lien Initial Term Loan (1 mo. USD LIBOR + 4.750%)		7.870	%		7/27/28		497,297		450,551	(c)(i)(j)
Peraton Corp., First Lien Term Loan B (1 mo. USD LIBOR + 3.750%)		6.865	%		2/1/28		490,770		466,415	(c)(i)(j)
RealPage Inc., First Lien Initial Term Loan (1 mo. USD LIBOR + 3.000%)		6.115	%		4/24/28		207,900		195,311	(c)(i)(j)
Total Software									1,645,220
TOTAL INFORMATION TECHNOLOGY									1,886,455
MATERIALS - 0.1%
Containers & Packaging - 0.1%
Berry Global Inc., Term Loan Z (1 mo. USD LIBOR + 1.750%)		4.178	%		7/1/26		59,402		57,652	(c)(i)(j)
Reynolds Consumer Products LLC, Initial Term Loan (1 mo. USD LIBOR + 1.750%)		4.865	%		2/4/27		207,655		200,467	(c)(i)(j)
TOTAL MATERIALS									258,119
TOTAL SENIOR LOANS (Cost - $18,810,823)									17,912,518
SOVEREIGN BONDS - 5.3%
Argentina - 0.1%
Argentine Republic Government International Bond, Senior Notes		1.000	%		7/9/29		37,763		7,310
Argentine Republic Government International Bond, Senior Notes, Step bond (0.500% to 7/9/23 then 0.750%)		0.500	%		7/9/30		445,677		90,018

See Notes to Schedule of Investments.

    46     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Argentina - (continued)
Argentine Republic Government International Bond, Senior Notes, Step bond (1.500% to 7/9/23 then 3.625%)		1.500	%		7/9/35		194,523		$	35,431
Argentine Republic Government International Bond, Senior Notes, Step bond (3.500% to 7/9/29 then 4.875%)		3.500	%		7/9/41		380,000			81,761
Provincia de Buenos Aires, Senior Notes, Step bond (5.250% to 9/1/23 then 6.375%)		5.250	%		9/1/37		173,500			54,435	(a)
Total Argentina										268,955
Brazil - 0.2%
Brazilian Government International Bond, Senior Notes		4.625	%		1/13/28		200,000			186,033
Brazilian Government International Bond, Senior Notes		5.000	%		1/27/45		710,000			517,751
Total Brazil										703,784
China - 1.0%
China Government Bond		3.290	%		5/23/29		13,890,000	CNY		2,038,350
China Government Bond, Senior Notes		3.390	%		5/21/25		1,500,000	CNH		214,629	(l)
China Government Bond, Senior Notes		3.310	%		11/30/25		5,000,000	CNH		716,237	(l)
Total China										2,969,216
Colombia - 0.1%
Colombia Government International Bond, Senior Notes		4.125	%		2/22/42		400,000			228,425
Colombia Government International Bond, Senior Notes		5.625	%		2/26/44		240,000			159,749
Total Colombia										388,174
Indonesia - 0.8%
Indonesia Government International Bond, Senior Notes		3.700	%		10/30/49		290,000			206,024
Indonesia Treasury Bond		7.000	%		5/15/27		13,823,000,000	IDR		908,238
Indonesia Treasury Bond		6.500	%		2/15/31		16,713,000,000	IDR		1,040,141
Indonesia Treasury Bond		6.375	%		4/15/32		1,447,000,000	IDR		88,569
Indonesia Treasury Bond		7.500	%		6/15/35		2,348,000,000	IDR		154,498
Total Indonesia										2,397,470
Israel - 0.1%
Israel Government International Bond, Senior Notes		2.750	%		7/3/30		400,000			354,980
Kenya - 0.1%
Republic of Kenya Government International Bond, Senior Notes		6.875	%		6/24/24		200,000			170,773	(l)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         47

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Mexico - 2.1%
Mexican Bonos, Bonds		10.000	%		12/5/24		2,000,000	MXN	$	98,676
Mexican Bonos, Bonds		8.000	%		11/7/47		57,490,000	MXN		2,409,316
Mexican Bonos, Senior Notes		7.750	%		11/23/34		45,120,000	MXN		1,933,711
Mexican Bonos, Senior Notes		7.750	%		11/13/42		41,430,000	MXN		1,708,032
Mexico Government International Bond, Senior Notes		4.600	%		2/10/48		730,000			534,844
Total Mexico										6,684,579
Nigeria - 0.0%††
Nigeria Government International Bond, Senior Notes		6.500	%		11/28/27		200,000			145,287	(a)
Panama - 0.1%
Panama Government International Bond, Senior Notes		2.252	%		9/29/32		210,000			148,383
Peru - 0.0%††
Peruvian Government International Bond, Senior Notes		5.625	%		11/18/50		120,000			113,504
Russia - 0.5%
Russian Federal Bond - OFZ		7.000	%		8/16/23		39,550,000	RUB		216,802	*(m)
Russian Federal Bond - OFZ		8.150	%		2/3/27		7,520,000	RUB		41,223	*(m)
Russian Federal Bond - OFZ		7.050	%		1/19/28		67,452,000	RUB		369,754	*(m)
Russian Federal Bond - OFZ		6.900	%		5/23/29		62,801,000	RUB		344,258	*(m)
Russian Federal Bond - OFZ		7.650	%		4/10/30		43,880,000	RUB		240,538	*(m)
Russian Federal Bond - OFZ		7.700	%		3/16/39		37,190,000	RUB		203,865	*(m)
Total Russia										1,416,440
United Arab Emirates - 0.2%
Abu Dhabi Government International Bond, Senior Notes		2.500	%		10/11/22		760,000			759,552	(a)
TOTAL SOVEREIGN BONDS (Cost - $21,943,916)										16,521,097
						FACE AMOUNT†/ UNITS
ASSET-BACKED SECURITIES - 2.2%
ACRES Commercial Realty Ltd., 2021-FL1 A (1 mo. USD LIBOR + 1.200%)		4.139	%		6/15/36		340,000			334,775	(a)(c)
Applebee’s Funding LLC/IHOP Funding LLC, 2019-1A A2I		4.194	%		6/5/49		396,000			376,448	(a)
Avis Budget Rental Car Funding AESOP LLC, 2021-1A A		1.380	%		8/20/27		290,000			250,158	(a)

See Notes to Schedule of Investments.

    48     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
First Franklin Mortgage Loan Trust, 2006- FF15 A2 (1 mo. USD LIBOR + 0.120%)		3.204	%		11/25/36		142,725	$	132,504	(c)
First Franklin Mortgage Loan Trust, 2006- FF15 A5 (1 mo. USD LIBOR + 0.160%)		3.244	%		11/25/36		147,158		145,206	(c)
Ford Credit Floorplan Master Owner Trust, 2018-4 A		4.060	%		11/15/30		280,000		261,785
Hardee’s Funding LLC, 2021-1A A2		2.865	%		6/20/51		227,125		180,562	(a)
Hertz Vehicle Financing LP, 2021-2A A		1.680	%		12/27/27		180,000		154,269	(a)
Hildene Community Funding CDO Ltd., 2015-1A ARR		2.600	%		11/1/35		320,000		281,600	(a)
InStar Leasing III LLC, 2021-1A A		2.300	%		2/15/54		101,136		86,116	(a)
Jack in the Box Funding LLC, 2019-1A A23		4.970	%		8/25/49		128,050		114,196	(a)
JPMorgan Mortgage Acquisition Corp., 2005-OPT2 M4 (1 mo. USD LIBOR + 0.930%)		4.014	%		12/25/35		110,000		105,301	(c)
Mercury Financial Credit Card Master Trust, 2022-1A B		3.200	%		9/21/26		160,000		145,089	(a)
MF1 Ltd., 2022-FL8 A (30 Day Average SOFR + 1.350%)		3.634	%		2/19/37		500,000		478,863	(a)(c)
Navient Private Education Refi Loan Trust, 2019-A A2B (1 mo. USD LIBOR + 0.900%)		3.718	%		1/15/43		141,198		139,624	(a)(c)
Navient Student Loan Trust, 2016-3A A3 (1 mo. USD LIBOR + 1.350%)		4.434	%		6/25/65		293,078		293,561	(a)(c)
Oak Street Investment Grade Net Lease Fund, 2020-1A A1		1.850	%		11/20/50		212,966		187,643	(a)
SBA Small Business Investment Cos., 2018-10B 1		3.548	%		9/10/28		74,881		70,468
SLM Private Credit Student Loan Trust, 2006-A A5 (3 mo. USD LIBOR + 0.290%)		3.583	%		6/15/39		337,474		317,416	(c)
SLM Student Loan Trust, 2003-10A A4 (3 mo. USD LIBOR + 0.670%)		3.963	%		12/17/68		109,692		106,570	(a)(c)
SMB Private Education Loan Trust, 2015-C R		0.000	%		9/18/46		1,092		505,909	(a)
SMB Private Education Loan Trust, 2020-A A2A		2.230	%		9/15/37		160,914		150,224	(a)
SMB Private Education Loan Trust, 2021-A A2A1 (1 mo. USD LIBOR + 0.730%)		3.548	%		1/15/53		269,137		258,648	(a)(c)
SMB Private Education Loan Trust, 2021-A A2B		1.590	%		1/15/53		417,627		364,296	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         49

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
SMB Private Education Loan Trust, 2021-A B		2.310	%		1/15/53		190,000	$	166,619	(a)
SMB Private Education Loan Trust, 2021-C B		2.300	%		1/15/53		170,000		146,206	(a)
SMB Private Education Loan Trust, 2021-E A1A		1.680	%		2/15/51		162,752		145,748	(a)
SoFi Professional Loan Program LLC, 2017-A B		3.440	%		3/26/40		140,000		135,772	(a)(c)
Structured Asset Investment Loan Trust, 2004-7 A8 (1 mo. USD LIBOR + 1.200%)		4.284	%		8/25/34		111,849		108,373	(c)
Structured Asset Investment Loan Trust, 2005-HE1 M2 (1 mo. USD LIBOR + 0.720%)		3.804	%		7/25/35		173,806		167,094	(c)
Structured Asset Securities Corp. Mortgage Loan Trust, 2007-WF1 A1 (1 mo. USD LIBOR + 0.420%)		3.504	%		2/25/37		266,951		260,252	(c)
Triumph Rail Holdings LLC, 2021-2 A		2.150	%		6/19/51		103,227		88,745	(a)
United States Small Business Administration, 2019-25G 1		2.690	%		7/1/44		67,673		58,847
Wendy’s Funding LLC, 2021-1A A2I		2.370	%		6/15/51		108,625		86,718	(a)
TOTAL ASSET-BACKED SECURITIES (Cost - $8,264,312)									6,805,605
	EXPIRATION DATE			CONTRACTS		NOTIONAL AMOUNT†
PURCHASED OPTIONS - 0.0%††
EXCHANGE-TRADED PURCHASED OPTIONS - 0.0%††
SOFR 1-Year Mid-Curve Futures, Call @ $95.88		12/16/22			29		72,500		21,206
U.S. Treasury 5-Year Notes Futures, Call @ $111.50		10/21/22			19		19,000		594
U.S. Treasury 10-Year Notes Futures, Put @ $111.00		10/21/22			19		19,000		12,766
U.S. Treasury 10-Year Notes Futures, Put @ $111.75		10/21/22			18		18,000		17,437
U.S. Treasury Long-Term Bonds Futures, Call @ $133.00		10/21/22			9		9,000		2,391
TOTAL EXCHANGE-TRADED PURCHASED OPTIONS (Cost - $85,285)									54,394

See Notes to Schedule of Investments.

    50     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   (Percentages shown based on Portfolio net assets) September 30, 2022

SECURITY	COUNTERPARTY		EXPIRATION DATE			CONTRACTS		NOTIONAL AMOUNT†		VALUE
OTC PURCHASED OPTIONS - 0.0%††
U.S. Dollar/Canadian Dollar, Put @ 1.27CAD		Morgan Stanley & Co. Inc.		10/7/22			754,000		754,000	$	0	(n)
U.S. Dollar/Canadian Dollar, Put @ 1.27CAD		Citibank N.A.		10/11/22			1,100,000		1,100,000		1
U.S. Dollar/Canadian Dollar, Put @ 1.27CAD		Citibank N.A.		10/11/22			365,000		365,000		0	(n)
U.S. Dollar/Canadian Dollar, Put @ 1.27CAD		Citibank N.A.		10/11/22			365,000		365,000		0	(n)
U.S. Dollar/Canadian Dollar, Put @ 1.27CAD		Goldman Sachs Group Inc.		10/14/22			1,100,000		1,100,000		3
U.S. Dollar/Japanese Yen, Put @ 131.55JPY		Goldman Sachs Group Inc.		10/5/22			1,956,892		1,956,892		10
U.S. Dollar/Japanese Yen, Put @ 131.39JPY		Citibank N.A.		10/6/22			581,751		581,751		9
U.S. Dollar/Japanese Yen, Put @ 131.50JPY		Goldman Sachs Group Inc.		10/6/22			650,059		650,059		11
TOTAL OTC PURCHASED OPTIONS (Cost - $76,889)											34
TOTAL PURCHASED OPTIONS (Cost - $162,174)											54,428
								SHARES
COMMON STOCKS - 0.0%††
ENERGY - 0.0%††
Energy Equipment & Services - 0.0%††
KCAD Holdings I Ltd. (Cost - $883,931)									108,106,087		0	*(d)(e)(n)
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $357,328,149)											309,824,762
			RATE
SHORT-TERM INVESTMENTS - 3.0%
Western Asset Premier Institutional Government Reserves, Premium Shares (Cost - $9,455,785)				2.799	%				9,455,785		9,455,785	(o)
TOTAL INVESTMENTS - 102.2% (Cost - $366,783,934)											319,280,547
Liabilities in Excess of Other Assets - (2.2)%											(6,799,076	)
TOTAL NET ASSETS - 100.0%										$	312,481,471

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         51

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   September 30, 2022

† 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 Trustees.

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

^(c)  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.

^(d)  Security is valued in good faith in accordance with procedures approved by the Board of Trustees (Note 1).

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

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

^(g)  This security is traded on a to-be-announced (“TBA”) basis. At September 30, 2022, the Portfolio held TBA securities with a total cost of $17,370,576.

^(h)  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.

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

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

^(k)  All or a portion of this loan is unfunded as of September 30, 2022. The interest rate for fully unfunded term loans is to be determined.

^(l)  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 Trustees.

^(m)  The coupon payment on this security is currently in default as of September 30, 2022.

⁽ⁿ⁾  Value is less than $1.

^(o)  In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Portfolio 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 Portfolio. At September 30, 2022, the total market value of investments in Affiliated Companies was $9,455,785 and the cost was $9,455,785 (Note 2).

See Notes to Schedule of Investments.

    52      Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   September 30, 2022

Abbreviation(s) used in this schedule:

ACES	— Alternative Credit Enhancement Securities
CAD	— Canadian Dollar
CAS	— Connecticut Avenue Securities
CDO	— Collateralized Debt Obligation
CNH	— Chinese Offshore Yuan
CNY	— Chinese Yuan Renminbi
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
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

At September 30, 2022, the Portfolio had the following written options contracts:

EXCHANGE-TRADED WRITTEN OPTIONS
SECURITY	EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT		VALUE
90-Day Eurodollar Futures, Call		12/19/22	$	96.50		64	$	160,000	$	(4,000	)
90-Day Eurodollar Futures, Call		12/19/22		97.00		248		620,000		(10,850	)
SOFR 1-Year Mid-Curve Futures, Call		12/16/22		96.50		58		145,000		(14,863	)
U.S. Treasury 5-Year Notes Futures, Call		10/21/22		109.25		75		75,000		(11,719	)
U.S. Treasury 5-Year Notes Futures, Call		10/21/22		110.75		25		25,000		(1,172	)
U.S. Treasury 10-Year Notes Futures, Call		10/7/22		113.50		26		26,000		(6,094	)
U.S. Treasury 10-Year Notes Futures, Call		10/21/22		117.00		19		19,000		(1,484	)
U.S. Treasury 10-Year Notes Futures, Call		10/21/22		118.50		36		36,000		(1,688	)
U.S. Treasury 10-Year Notes Futures, Put		10/7/22		110.75		28		28,000		(7,437	)
U.S. Treasury 10-Year Notes Futures, Put		10/21/22		109.00		25		25,000		(5,859	)
U.S. Treasury 10-Year Notes Futures, Put		10/21/22		109.75		27		27,000		(9,703	)
U.S. Treasury 10-Year Notes Futures, Put		10/21/22		110.25		36		36,000		(16,875	)
U.S. Treasury Long-Term Bonds Futures, Call		10/21/22		136.00		18		18,000		(1,969	)
TOTAL EXCHANGE-TRADED WRITTEN OPTIONS (Premiums received - $391,586)									$	(93,713	)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         53

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   September 30, 2022

OTC WRITTEN OPTIONS
SECURITY	COUNTERPARTY		EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT		VALUE
U.S. Dollar/British Pound, Put		JPMorgan Chase & Co.		10/24/22	$	1.20		1,024,137	$	1,024,137	$	(1,458	)
U.S. Dollar/British Pound, Put		Citibank N.A.		10/27/22		1.21		978,634		978,634		(1,352	)
U.S. Dollar/British Pound, Put		Goldman Sachs Group Inc.		12/22/22		1.08		382,000		382,000		(21,539	)
U.S. Dollar/British Pound, Put		JPMorgan Chase & Co.		12/22/22		1.08		389,000		389,000		(23,947	)
U.S. Dollar/British Pound, Put		Morgan Stanley & Co. Inc.		12/22/22		1.12		804,000		804,000		(27,096	)
TOTAL OTC WRITTEN OPTIONS (Premiums received - $64,695)											$	(75,392	)
TOTAL WRITTEN OPTIONS (Premiums received - $456,281)											$	(169,105	)

Abbreviation(s) used in this schedule:

SOFR — Secured Overnight Financing Rate

At September 30, 2022, the Portfolio had the following open futures contracts:

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy:
3-Month EURIBOR		50		12/22	$	12,163,668	$	11,975,599	$	(188,069	)
3-Month SOFR		1		9/23		241,152		239,037		(2,115	)
3-Month SOFR		131		3/25		31,745,248		31,543,163		(202,085	)
90-Day Eurodollar		361		12/22		87,626,933		86,017,275		(1,609,658	)
90-Day Eurodollar		30		3/23		7,130,281		7,147,125		16,844
90-Day Eurodollar		39		6/23		9,414,906		9,295,162		(119,744	)
90-Day Eurodollar		15		9/23		3,682,094		3,578,250		(103,844	)
90-Day Eurodollar		1		12/23		241,302		238,775		(2,527	)
Australian 10-Year Bonds		31		12/22		2,386,311		2,322,321		(63,990	)
Euro-Bobl		13		12/22		1,561,764		1,525,692		(36,072	)
Euro-OAT		22		12/22		2,980,701		2,848,653		(132,048	)
U.S. Treasury 2-Year Notes		208		12/22		43,408,441		42,721,250		(687,191	)
U.S. Treasury 5-Year Notes		39		12/22		4,324,859		4,192,805		(132,054	)
U.S. Treasury Ultra Long-Term Bonds		204		12/22		30,264,705		27,948,000		(2,316,705	)
United Kingdom Long Gilt Bonds		16		12/22		1,962,116		1,722,167		(239,949	)
										(5,819,207	)

See Notes to Schedule of Investments.

    54     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   September 30, 2022

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Sell:
3-Month SOFR		322		3/24	$	77,417,912	$	77,094,850	$	323,062
Euro-Bund		13		12/22		1,840,244		1,764,453		75,791
Euro-Buxl		8		12/22		1,257,336		1,149,716		107,620
Japanese 10-Year Bonds		4		12/22		4,098,575		4,098,666		(91	)
U.S. Treasury 10-Year Notes		14		12/22		1,612,632		1,568,875		43,757
U.S. Treasury Long-Term Bonds		19		12/22		2,532,578		2,401,719		130,859
U.S. Treasury Ultra 10-Year Notes		88		12/22		11,106,291		10,426,626		679,665
										1,360,663
Net unrealized depreciation on open futures contracts									$	(4,458,544	)

Abbreviation(s) used in this table:

Bobl	— Bundesobligation
EURIBOR	— Euro Interbank Offered Rate
OAT	— Obligations Assimilables du Trésor (French Treasury Bonds)
SOFR	— Secured Overnight Financing Rate

At September 30, 2022, the Portfolio had the following open forward foreign currency contracts:

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	600,114		JPY	80,967,319	Goldman Sachs Group Inc.		10/7/22	$	40,320
USD	170,647		JPY	23,010,377	Citibank N.A.		10/11/22		11,498
USD	195,018		JPY	26,298,137	Goldman Sachs Group Inc.		10/11/22		13,130
USD	323,842		CAD	413,320	Morgan Stanley & Co. Inc.		10/11/22		24,635
USD	149,647		CAD	190,920	Citibank N.A.		10/12/22		11,439
USD	160,600		CAD	204,640	Citibank N.A.		10/12/22		12,459
USD	472,993		CAD	603,970	Citibank N.A.		10/12/22		35,774
USD	471,172		CAD	603,100	Goldman Sachs Group Inc.		10/17/22		34,589
JPY	418,806,303		USD	3,095,671	BNP Paribas SA		10/18/22		(197,154	)
NOK	15,357,495		EUR	1,483,985	BNP Paribas SA		10/18/22		(45,630	)
USD	103,430		EUR	102,000	BNP Paribas SA		10/18/22		3,342
USD	228,923		EUR	225,823	BNP Paribas SA		10/18/22		7,332
AUD	4,664,251		USD	3,195,427	Citibank N.A.		10/18/22		(211,320	)
CAD	1,100,000		USD	847,278	Citibank N.A.		10/18/22		(50,993	)
CAD	3,590,000		USD	2,765,208	Citibank N.A.		10/18/22		(166,423	)
CAD	8,881,660		USD	6,862,240	Citibank N.A.		10/18/22		(432,847	)
IDR	9,210,309,450		USD	609,591	Citibank N.A.		10/18/22		(5,072	)
USD	2,486,143		CNH	16,640,000	Citibank N.A.		10/18/22		154,786

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         55

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   September 30, 2022

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	61,076		CNY	410,000	Citibank N.A.		10/18/22	$	3,215
USD	238,601		CNY	1,599,198	Citibank N.A.		10/18/22		12,918
USD	308,357		CNY	2,070,000	Citibank N.A.		10/18/22		16,234
USD	1,719		IDR	25,880,000	Citibank N.A.		10/18/22		20
GBP	1,477,463		USD	1,781,052	Goldman Sachs Group Inc.		10/18/22		(130,749	)
USD	1,965,895		CAD	2,613,011	Goldman Sachs Group Inc.		10/18/22		74,349
USD	347,018		GBP	325,000	Goldman Sachs Group Inc.		10/18/22		(16,002	)
USD	450,511		GBP	419,000	Goldman Sachs Group Inc.		10/18/22		(17,505	)
CNH	19,778,848		USD	2,776,368	JPMorgan Chase & Co.		10/18/22		(5,242	)
CNY	70,000		USD	9,919	JPMorgan Chase & Co.		10/18/22		(40	)
CNY	620,000		USD	87,324	JPMorgan Chase & Co.		10/18/22		172
CNY	3,060,000		USD	433,581	JPMorgan Chase & Co.		10/18/22		(1,747	)
IDR	5,307,120,000		USD	349,843	JPMorgan Chase & Co.		10/18/22		(1,510	)
INR	40,204,747		USD	503,819	JPMorgan Chase & Co.		10/18/22		(10,520	)
USD	902,173		AUD	1,342,271	JPMorgan Chase & Co.		10/18/22		43,411
USD	1,268,037		CNH	8,480,000	JPMorgan Chase & Co.		10/18/22		79,943
USD	1,995,455		CNH	13,378,848	JPMorgan Chase & Co.		10/18/22		121,005
USD	19,102		IDR	286,720,000	JPMorgan Chase & Co.		10/18/22		283
USD	43,888		IDR	658,980,000	JPMorgan Chase & Co.		10/18/22		636
USD	63,676		IDR	955,140,000	JPMorgan Chase & Co.		10/18/22		985
USD	70,749		IDR	1,062,080,000	JPMorgan Chase & Co.		10/18/22		1,039
USD	87,988		IDR	1,320,870,000	JPMorgan Chase & Co.		10/18/22		1,292
USD	212,247		IDR	3,186,360,000	JPMorgan Chase & Co.		10/18/22		3,110
USD	678,072		IDR	10,166,240,000	JPMorgan Chase & Co.		10/18/22		10,811
CNH	18,720,000		USD	2,599,278	Morgan Stanley & Co. Inc.		10/18/22		23,498
USD	469,433		CAD	620,000	Morgan Stanley & Co. Inc.		10/18/22		20,618
USD	492,404		INR	40,204,747	Morgan Stanley & Co. Inc.		10/18/22		(896	)
USD	227,347		MXN	4,756,335	Morgan Stanley & Co. Inc.		10/18/22		(8,041	)
USD	354,739		MXN	7,430,000	Morgan Stanley & Co. Inc.		10/18/22		(12,967	)
USD	866,638		MXN	17,481,967	Morgan Stanley & Co. Inc.		10/18/22		1,467
ZAR	8,247,386		USD	492,358	Morgan Stanley & Co. Inc.		10/18/22		(37,444	)
GBP	209,000		USD	226,242	Goldman Sachs Group Inc.		12/28/22		7,455
USD	356,178		GBP	321,000	Goldman Sachs Group Inc.		12/28/22		(2,754	)
GBP	210,000		USD	225,792	JPMorgan Chase & Co.		12/28/22		9,023
GBP	350,095		USD	388,063	Morgan Stanley & Co. Inc.		12/28/22		3,403
USD	30,918		GBP	28,000	Morgan Stanley & Co. Inc.		12/28/22		(391	)
USD	2,783,244		CNH	19,778,848	JPMorgan Chase & Co.		1/18/23		5,402
USD	9,882		CNY	70,000	JPMorgan Chase & Co.		1/18/23		(43	)
USD	87,122		CNY	620,000	JPMorgan Chase & Co.		1/18/23		(791	)

See Notes to Schedule of Investments.

    56     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   September 30, 2022

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	431,990		CNY	3,060,000	JPMorgan Chase & Co.		1/18/23	$	(1,899	)
USD	347,894		IDR	5,307,120,000	JPMorgan Chase & Co.		1/18/23		637
INR	40,204,747		USD	487,434	Morgan Stanley & Co. Inc.		1/18/23		1,971
USD	2,606,153		CNH	18,720,000	Morgan Stanley & Co. Inc.		1/18/23		(22,979	)
Total								$	(588,758	)

Abbreviation(s) used in this table:

AUD	— Australian Dollar
CAD	— Canadian Dollar
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
NOK	— Norwegian Krone
USD	— United States Dollar
ZAR	— South African Rand

At September 30, 2022, the Portfolio had the following open swap contracts:

CENTRALLY CLEARED INTEREST RATE SWAPS
NOTIONAL AMOUNT*		TERMINATION DATE		PAYMENTS MADE BY THE PORTFOLIO†	PAYMENTS RECEIVED BY THE PORTFOLIO†	UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
	3,110,000		11/18/23	3.970%**	CPURNSA**	$	(11,505	)	$	97,464
	2,098,000		9/30/24	Daily SOFR Compound annually	3.500% annually		(14,477	)		(12,216	)
	3,110,000		11/18/26	CPURNSA**	3.370%**		27,508			(65,319	)
	3,530,000		11/20/26	1.520% annually	Daily SOFR Compound annually		(6,060	)		215,463
	761,000		5/15/27	0.710% annually	Daily SOFR Compound annually		3,562			96,371
	5,758,000		8/15/28	1.130% annually	Daily SOFR Compound annually		40,236			746,467

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         57

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   September 30, 2022

CENTRALLY CLEARED INTEREST RATE SWAPS (cont’d)
NOTIONAL AMOUNT*			TERMINATION DATE		PAYMENTS MADE BY THE PORTFOLIO†	PAYMENTS RECEIVED BY THE PORTFOLIO†	UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
	6,856,000			8/15/28	1.220% annually	Daily SOFR Compound annually	$	380,519		$	523,974
	2,566,000			2/15/29	2.850% annually	Daily SOFR Compound annually		(9,643	)		133,597
	4,599,000			4/30/29	3.270% annually	Daily SOFR Compound annually		(60,491	)		174,813
	28,260,000	MXN		7/18/29	28-Day MXN TIIE - Banxico every 28 days	7.450% every 28 days		8,272			(134,133	)
	47,980,000	MXN		7/20/29	28-Day MXN TIIE - Banxico every 28 days	7.440% every 28 days		17,049			(232,018	)
	2,220,000			10/20/31	1.733% annually	Daily SOFR Compound annually		8,731			129,799
	1,272,000			3/18/32	2.000% annually	Daily SOFR Compound annually		10,310			149,845
	2,140,000			7/20/45	0.560% annually	Daily SOFR annually		15,715			900,754
	1,072,000			2/15/47	1.520% annually	Daily SOFR Compound annually		(16,510	)		318,668
	1,120,000			2/15/47	1.729% annually	Daily SOFR Compound annually		16,080			261,110
	1,800,000			5/15/47	1.630% annually	Daily SOFR Compound annually		79,429			396,264
	113,000			8/15/47	1.650% annually	Daily SOFR Compound annually		11,358			18,181
	3,694,000			8/15/47	2.650% annually	Daily SOFR Compound annually		(17,828	)		366,583
	625,000			2/15/48	2.510% annually	Daily SOFR Compound annually		4,102			68,731

See Notes to Schedule of Investments.

    58     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   September 30, 2022

	CENTRALLY CLEARED INTEREST RATE SWAPS (cont’d)
	NOTIONAL AMOUNT*		TERMINATION DATE		PAYMENTS MADE BY THE PORTFOLIO†	PAYMENTS RECEIVED BY THE PORTFOLIO†	UPFRONT PREMIUMS PAID (RECEIVED)		UNREALIZED APPRECIATION (DEPRECIATION)
		2,704,000		2/15/48	2.600% annually	Daily SOFR Compound annually	$	185,867	$	81,700
		1,355,000		2/15/48	2.620% annually	Daily SOFR Compound annually		1,550		131,096
		1,807,000		2/15/48	3.050% annually	Daily SOFR Compound annually		55,703		(14,149	)
		1,060,000		4/21/52	2.500% annually	Daily SOFR Compound annually		1,806		113,889
Total							$	731,283	$	4,466,934

CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES - SELL PROTECTION1
REFERENCE ENTITY	NOTIONAL AMOUNT2		TERMINATION DATE		PERIODIC PAYMENTS RECEIVED BY THE PORTFOLIO†	MARKET VALUE3			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED DEPRECIATION
Markit CDX.NA.IG.39 Index	$	62,258,000		12/20/27	1.000% quarterly	$	(213,694	)	$	(47,350	)	$	(166,344	)
CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES - BUY PROTECTION4
REFERENCE ENTITY	NOTIONAL AMOUNT2		TERMINATION DATE		PERIODIC PAYMENTS MADE BY THE PORTFOLIO†	MARKET VALUE3			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION
Markit CDX.NA.IG.39 Index	$	4,480,100		12/20/27	5.000% quarterly	$	183,860		$	183,275		$	585

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2022 Quarterly Report         59

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)   September 30, 2022

1 If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio 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.

4 If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or the underlying securities comprising the referenced index or (ii) receive 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 the underlying securities comprising the referenced index.

† 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:

CPURNSA	— U.S. CPI Urban Consumers NSA Index
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 Portfolio’s investments as of the date of the schedule. Other information regarding the Portfolio is available in the Portfolio’s most recent annual or semi-annual shareholder report.

See Notes to Schedule of Investments.

    60     Western Asset Core Plus VIT Portfolio 2022 Quarterly Report

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

Western Asset Core Plus VIT Portfolio (the “Portfolio”) is a separate diversified investment series of Legg Mason Partners Variable Income Trust (the “Trust”). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.

Shares of the Portfolio may only be purchased or redeemed through variable annuity contracts and variable life insurance policies offered by the separate accounts of participating insurance companies or through eligible pension or other qualified plans.

The following are significant accounting policies consistently followed by the Portfolio 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 typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Portfolio holds securities or other assets that are denominated in a foreign currency, the Portfolio 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 Portfolio calculates its net asset value, the Portfolio values these securities as determined in accordance with procedures approved by the Portfolio’s Board of Trustees.

Pursuant to policies adopted by the Board of Trustees, the Portfolio’s manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Portfolio’s manager is assisted by the Global Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Portfolio’s pricing policies, and reporting to the Portfolio’s manager and the Board of Trustees. When determining the

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Notes to Schedule of Investments (unaudited) (continued)

reliability of third party pricing information for investments owned by the Portfolio, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

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

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

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

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

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

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

• Level 3 – significant unobservable inputs (including the Portfolio’s own assumptions in determining the fair value of investments)

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Notes to Schedule of Investments (unaudited) (continued)

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

The following is a summary of the inputs used in valuing the Portfolio’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		—	$	32,656,648	$	80,252		$	32,736,900
Other Corporate Bonds & Notes		—		72,740,159		—			72,740,159
Mortgage-Backed Securities		—		71,660,068		—			71,660,068
U.S. Government & Agency Obligations		—		65,547,960		—			65,547,960
Collateralized Mortgage Obligations		—		25,846,027		—			25,846,027
Senior Loans:
Communication Services		—		1,988,251		115,424			2,103,675
Information Technology		—		1,824,989		61,466			1,886,455
Other Senior Loans		—		13,922,388		—			13,922,388
Sovereign Bonds		—		16,521,097		—			16,521,097
Asset-Backed Securities		—		6,805,605		—			6,805,605
Purchased Options:
Exchange-Traded Purchased Options	$	54,394		—		—			54,394
OTC Purchased Options		—		34		—			34
Common Stocks		—		—		0	*		0	*
Total Long-Term Investments		54,394		309,513,226		257,142			309,824,762
Short-Term Investments†		9,455,785		—		—			9,455,785
Total Investments	$	9,510,179	$	309,513,226	$	257,142		$	319,280,547
Other Financial Instruments:
Futures Contracts††	$	1,377,598		—		—		$	1,377,598
Forward Foreign Currency Contracts††		—	$	792,201		—			792,201
Centrally Cleared Interest Rate Swaps††		—		4,924,769		—			4,924,769
Centrally Cleared Credit Default Swaps on Credit Indices - Buy Protection††		—		585		—			585
Total Other Financial Instruments	$	1,377,598	$	5,717,555		—		$	7,095,153
Total	$	10,887,777	$	315,230,781	$	257,142		$	326,375,700

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Notes to Schedule of Investments (unaudited) (continued)

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	$	93,713		—		—	$	93,713
OTC Written Options		—	$	75,392		—		75,392
Futures Contracts††		5,836,142		—		—		5,836,142
Forward Foreign Currency Contracts††		—		1,380,959		—		1,380,959
Centrally Cleared Interest Rate Swaps††		—		457,835		—		457,835
Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection††		—		166,344		—		166,344
Total	$	5,929,855	$	2,080,530		—	$	8,010,385

† See Schedule of Investments for additional detailed categorizations.

* Amount represents less than $1.

†† Reflects the unrealized appreciation (depreciation) of the instruments.

2. Transactions with affiliated company

As defined by the 1940 Act, an affiliated company is one in which the Portfolio owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Portfolio. The following company was considered an affiliated company for all or some portion of the period ended September 30, 2022. The following transactions were effected in such company for the period ended September 30, 2022.

	Affiliate Value at December 31, 2021		Purchased				Sold
			Cost		Shares		Cost		Shares
Western Asset Premier Institutional Government Reserves, Premium Shares		—	$	122,389,243		122,389,243	$	112,933,458		112,933,458

(cont’d)	Realized Gain (Loss)		Dividend Income		Net Increase (Decrease) in Unrealized Appreciation (Depreciation)		Affiliate Value at September 30, 2022
Western Asset Premier Institutional Government Reserves, Premium Shares		—	$	59,402		—	$	9,455,785

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