NPORT-EX 2 LMF3100LM063024.htm EDGAR HTML
Schedule of Investments (unaudited)
June 30, 2024
 Western Asset High Income Opportunity Fund Inc.
(Percentages shown based on Fund net assets) 
Security
 
Rate
Maturity
Date
Face
Amount†
Value
Corporate Bonds & Notes — 86.0%
Communication Services — 13.0%
Diversified Telecommunication Services — 2.2%
Altice Financing SA, Senior Secured Notes
5.000%
1/15/28
1,050,000
 
 $799,716
 (a)
Altice Financing SA, Senior Secured Notes
5.750%
8/15/29
4,690,000
 
3,412,829
 (a)
Altice France Holding SA, Senior Secured Notes
8.000%
5/15/27
720,000
 EUR
271,113
 (b)
Altice France Holding SA, Senior Secured Notes
10.500%
5/15/27
2,770,000
 
1,108,775
 (a)
Altice France Holding SA, Senior Secured Notes
6.000%
2/15/28
1,230,000
 
401,208
 (a)
Altice France SA, Senior Secured Notes
5.125%
7/15/29
750,000
 
494,375
 (a)
Altice France SA, Senior Secured Notes
5.500%
10/15/29
1,890,000
 
1,248,283
 (a)
Telecom Italia Capital SA, Senior Notes
6.000%
9/30/34
61,000
 
55,099
 
Telecom Italia Capital SA, Senior Notes
6.000%
9/30/34
939,000
 
889,796
 (a)
Total Diversified Telecommunication Services
8,681,194
Entertainment — 0.5%
Banijay Entertainment SASU, Senior Secured Notes
8.125%
5/1/29
2,090,000
 
2,139,504
 (a)
Interactive Media & Services — 0.3%
Match Group Holdings II LLC, Senior Notes
5.000%
12/15/27
1,000,000
 
959,622
 (a)
Match Group Holdings II LLC, Senior Notes
3.625%
10/1/31
360,000
 
305,182
 (a)
Total Interactive Media & Services
1,264,804
Media — 5.3%
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes
4.250%
1/15/34
3,850,000
 
2,925,529
 (a)
Charter Communications Operating LLC/Charter Communications Operating
Capital Corp., Senior Secured Notes
3.850%
4/1/61
8,520,000
 
4,980,250
 
Clear Channel Outdoor Holdings Inc., Senior Notes
7.750%
4/15/28
570,000
 
499,402
 (a)
Clear Channel Outdoor Holdings Inc., Senior Notes
7.500%
6/1/29
1,140,000
 
953,753
 (a)
DirecTV Financing LLC, Senior Secured Notes
8.875%
2/1/30
1,000,000
 
979,532
 (a)
DISH DBS Corp., Senior Notes
5.875%
11/15/24
333,000
 
316,477
 
DISH DBS Corp., Senior Notes
7.375%
7/1/28
1,780,000
 
758,974
 
DISH DBS Corp., Senior Notes
5.125%
6/1/29
6,738,000
 
2,675,528
 
iHeartCommunications Inc., Senior Secured Notes
6.375%
5/1/26
800,000
 
622,386
 
Sirius XM Radio Inc., Senior Notes
4.125%
7/1/30
1,000,000
 
854,941
 (a)
Sirius XM Radio Inc., Senior Notes
3.875%
9/1/31
1,000,000
 
817,069
 (a)
Univision Communications Inc., Senior Secured Notes
6.625%
6/1/27
1,400,000
 
1,341,643
 (a)
Virgin Media Vendor Financing Notes III DAC, Senior Secured Notes
4.875%
7/15/28
2,000,000
 GBP
2,262,739
 (a)
VZ Secured Financing BV, Senior Secured Notes
5.000%
1/15/32
680,000
 
580,578
 (a)
Total Media
20,568,801
Wireless Telecommunication Services — 4.7%
CSC Holdings LLC, Senior Notes
11.750%
1/31/29
1,550,000
 
1,322,893
 (a)
CSC Holdings LLC, Senior Notes
4.125%
12/1/30
2,080,000
 
1,346,446
 (a)
CSC Holdings LLC, Senior Notes
4.625%
12/1/30
1,410,000
 
514,850
 (a)
CSC Holdings LLC, Senior Notes
4.500%
11/15/31
5,670,000
 
3,663,419
 (a)
Millicom International Cellular SA, Senior Notes
4.500%
4/27/31
1,750,000
 
1,507,425
 (a)
Sprint Capital Corp., Senior Notes
6.875%
11/15/28
2,190,000
 
2,323,200
 
Sprint Capital Corp., Senior Notes
8.750%
3/15/32
5,910,000
 
7,113,851
 
Vmed O2 UK Financing I PLC, Senior Secured Notes
4.750%
7/15/31
500,000
 
422,370
 (a)
Total Wireless Telecommunication Services
18,214,454
 
Total Communication Services
50,868,757
See Notes to Schedule of Investments.
1
Western Asset High Income Opportunity Fund Inc. 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
June 30, 2024
 Western Asset High Income Opportunity Fund Inc.
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Consumer Discretionary — 19.4%
Automobile Components — 3.1%
Adient Global Holdings Ltd., Senior Notes
4.875%
8/15/26
3,529,000
 
 $3,435,071
 (a)
American Axle & Manufacturing Inc., Senior Notes
6.500%
4/1/27
3,903,000
 
3,901,052
 
Garrett Motion Holdings Inc./Garrett LX I Sarl, Senior Notes
7.750%
5/31/32
560,000
 
567,984
 (a)
JB Poindexter & Co. Inc., Senior Notes
8.750%
12/15/31
2,020,000
 
2,095,227
 (a)
ZF North America Capital Inc., Senior Notes
6.875%
4/14/28
880,000
 
897,781
 (a)
ZF North America Capital Inc., Senior Notes
7.125%
4/14/30
1,220,000
 
1,264,375
 (a)
Total Automobile Components
12,161,490
Automobiles — 1.5%
Ford Motor Co., Senior Notes
3.250%
2/12/32
1,000,000
 
826,947
 
Ford Motor Credit Co. LLC, Senior Notes
7.350%
3/6/30
1,000,000
 
1,058,850
 
Ford Motor Credit Co. LLC, Senior Notes
3.625%
6/17/31
3,520,000
 
3,036,425
 
PM General Purchaser LLC, Senior Secured Notes
9.500%
10/1/28
1,000,000
 
1,022,647
 (a)
Total Automobiles
5,944,869
Broadline Retail — 0.6%
Marks & Spencer PLC, Senior Notes
7.125%
12/1/37
2,190,000
 
2,344,435
 (a)
Distributors — 0.5%
Ritchie Bros Holdings Inc., Senior Notes
7.750%
3/15/31
1,770,000
 
1,850,723
 (a)
Diversified Consumer Services — 1.8%
APCOA Parking Holdings GmbH, Senior Secured Notes
4.625%
1/15/27
4,050,000
 EUR
4,255,339
 (a)
Carriage Services Inc., Senior Notes
4.250%
5/15/29
600,000
 
536,697
 (a)
Service Corp. International, Senior Notes
7.500%
4/1/27
1,975,000
 
2,050,617
 
Total Diversified Consumer Services
6,842,653
Hotels, Restaurants & Leisure — 10.7%
888 Acquisitions Ltd., Senior Secured Notes
7.558%
7/15/27
2,600,000
 EUR
2,789,451
 (a)
Carnival Holdings Bermuda Ltd., Senior Notes
10.375%
5/1/28
1,510,000
 
1,635,743
 (a)
Carnival PLC, Senior Notes
1.000%
10/28/29
5,780,000
 EUR
5,068,446
 
Full House Resorts Inc., Senior Secured Notes
8.250%
2/15/28
3,300,000
 
3,172,596
 (a)
Hilton Domestic Operating Co. Inc., Senior Notes
3.625%
2/15/32
2,000,000
 
1,732,444
 (a)
IRB Holding Corp., Senior Secured Notes
7.000%
6/15/25
1,230,000
 
1,231,326
 (a)
Melco Resorts Finance Ltd., Senior Notes
5.375%
12/4/29
1,367,000
 
1,227,595
 (a)
NCL Corp. Ltd., Senior Notes
3.625%
12/15/24
900,000
 
891,865
 (a)
NCL Corp. Ltd., Senior Notes
5.875%
3/15/26
320,000
 
316,587
 (a)
NCL Corp. Ltd., Senior Notes
7.750%
2/15/29
1,871,000
 
1,946,543
 (a)
NCL Corp. Ltd., Senior Secured Notes
8.125%
1/15/29
260,000
 
272,615
 (a)
NCL Finance Ltd., Senior Notes
6.125%
3/15/28
4,240,000
 
4,190,452
 (a)
Pinnacle Bidco PLC, Senior Secured Notes
10.000%
10/11/28
900,000
 GBP
1,209,507
 (a)
Royal Caribbean Cruises Ltd., Senior Notes
5.375%
7/15/27
2,980,000
 
2,936,259
 (a)
Royal Caribbean Cruises Ltd., Senior Notes
5.500%
4/1/28
1,840,000
 
1,817,780
 (a)
Royal Caribbean Cruises Ltd., Senior Notes
7.250%
1/15/30
1,660,000
 
1,719,843
 (a)
Sands China Ltd., Senior Notes
2.850%
3/8/29
1,200,000
 
1,056,961
 
Viking Cruises Ltd., Senior Notes
5.875%
9/15/27
1,000,000
 
990,279
 (a)
Viking Ocean Cruises Ship VII Ltd., Senior Secured Notes
5.625%
2/15/29
2,550,000
 
2,496,264
 (a)
VOC Escrow Ltd., Senior Secured Notes
5.000%
2/15/28
140,000
 
135,801
 (a)
Wynn Macau Ltd., Senior Notes
5.625%
8/26/28
1,970,000
 
1,848,835
 (a)
See Notes to Schedule of Investments.
2
Western Asset High Income Opportunity Fund Inc. 2024 Quarterly Report
 Western Asset High Income Opportunity Fund Inc.
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Hotels, Restaurants & Leisure — continued
Wynn Macau Ltd., Senior Notes
5.125%
12/15/29
1,674,000
 
 $1,517,483
 (a)
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes
7.125%
2/15/31
1,730,000
 
1,795,054
 (a)
Total Hotels, Restaurants & Leisure
41,999,729
Specialty Retail — 1.2%
FirstCash Inc., Senior Notes
4.625%
9/1/28
1,000,000
 
940,861
 (a)
Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes
8.750%
1/15/32
530,000
 
507,558
 (a)
Michaels Cos. Inc., Senior Secured Notes
5.250%
5/1/28
1,800,000
 
1,442,047
 (a)
Sally Holdings LLC/Sally Capital Inc., Senior Notes
6.750%
3/1/32
1,700,000
 
1,681,014
 
Total Specialty Retail
4,571,480
 
Total Consumer Discretionary
75,715,379
Consumer Staples — 0.4%
Food Products — 0.4%
FAGE International SA/FAGE USA Dairy Industry Inc., Senior Notes
5.625%
8/15/26
1,550,000
 
1,537,186
 (a)
 
Energy — 16.3%
Energy Equipment & Services — 0.2%
Noble Finance II LLC, Senior Notes
8.000%
4/15/30
850,000
 
885,264
 (a)
Oil, Gas & Consumable Fuels — 16.1%
Apache Corp., Senior Notes
5.100%
9/1/40
950,000
 
811,363
 
Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes
6.625%
7/15/26
515,000
 
515,657
 (a)
Continental Resources Inc., Senior Notes
4.900%
6/1/44
1,050,000
 
859,209
 
Crescent Energy Finance LLC, Senior Notes
9.250%
2/15/28
660,000
 
697,978
 (a)
Crescent Energy Finance LLC, Senior Notes
7.625%
4/1/32
750,000
 
764,915
 (a)
Ecopetrol SA, Senior Notes
5.875%
5/28/45
4,110,000
 
2,948,951
 
Energy Transfer LP, Junior Subordinated Notes (6.625% to 2/15/28 then 3
mo. USD LIBOR + 4.155%)
6.625%
2/15/28
1,910,000
 
1,860,684
 (c)(d)
EQM Midstream Partners LP, Senior Notes
4.500%
1/15/29
1,020,000
 
963,350
 (a)
EQM Midstream Partners LP, Senior Notes
7.500%
6/1/30
780,000
 
832,893
 (a)
EQM Midstream Partners LP, Senior Notes
4.750%
1/15/31
230,000
 
215,204
 (a)
Hilcorp Energy I LP/Hilcorp Finance Co., Senior Notes
8.375%
11/1/33
1,140,000
 
1,215,801
 (a)
Kinder Morgan Inc., Senior Notes
7.750%
1/15/32
6,920,000
 
7,813,139
 
NGPL PipeCo LLC, Senior Notes
7.768%
12/15/37
1,520,000
 
1,755,699
 (a)
Occidental Petroleum Corp., Senior Notes
2.900%
8/15/24
1,330,000
 
1,324,473
 
Occidental Petroleum Corp., Senior Notes
5.875%
9/1/25
4,970,000
 
4,975,608
 
Occidental Petroleum Corp., Senior Notes
5.550%
3/15/26
750,000
 
749,075
 
Occidental Petroleum Corp., Senior Notes
6.200%
3/15/40
1,070,000
 
1,072,754
 
Pan American Energy LLC, Senior Notes
8.500%
4/30/32
1,000,000
 
1,048,200
 (a)
Permian Resources Operating LLC, Senior Notes
5.375%
1/15/26
500,000
 
495,247
 (a)
Petrobras Global Finance BV, Senior Notes
6.750%
1/27/41
4,370,000
 
4,212,846
 
Petroleos del Peru SA, Senior Notes
4.750%
6/19/32
1,500,000
 
1,124,461
 (a)
Petroleos Mexicanos, Senior Notes
6.500%
6/2/41
1,000,000
 
681,546
 
Puma International Financing SA, Senior Notes
7.750%
4/25/29
650,000
 
655,996
 (a)
Range Resources Corp., Senior Notes
4.875%
5/15/25
1,540,000
 
1,531,515
 
Range Resources Corp., Senior Notes
8.250%
1/15/29
620,000
 
642,993
 
Rockies Express Pipeline LLC, Senior Notes
6.875%
4/15/40
1,140,000
 
1,090,550
 (a)
SilverBow Resources Inc., Secured Notes (3 mo. Term SOFR + 7.750%)
13.089%
12/15/28
981,240
 
1,031,529
 (a)(d)
See Notes to Schedule of Investments.
3
Western Asset High Income Opportunity Fund Inc. 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
June 30, 2024
 Western Asset High Income Opportunity Fund Inc.
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Oil, Gas & Consumable Fuels — continued
Southwestern Energy Co., Senior Notes
5.700%
1/23/25
500,000
 
 $499,586
 
Southwestern Energy Co., Senior Notes
4.750%
2/1/32
750,000
 
690,412
 
Summit Midstream Holdings LLC/Summit Midstream Finance Corp.,
Secured Notes
10.000%
10/15/26
1,430,000
 
1,471,403
 (a)
Venture Global LNG Inc., Senior Secured Notes
9.875%
2/1/32
2,660,000
 
2,896,873
 (a)
Western Midstream Operating LP, Senior Notes
4.050%
2/1/30
1,340,000
 
1,247,102
 
Western Midstream Operating LP, Senior Notes
5.300%
3/1/48
1,070,000
 
924,713
 
Western Midstream Operating LP, Senior Notes
5.250%
2/1/50
9,585,000
 
8,409,713
 
Williams Cos. Inc., Senior Notes
7.500%
1/15/31
620,000
 
686,089
 
Williams Cos. Inc., Senior Notes
5.750%
6/24/44
3,190,000
 
3,126,761
 
YPF SA, Senior Notes
8.500%
7/28/25
560,000
 
552,517
 (a)
YPF SA, Senior Notes
6.950%
7/21/27
530,000
 
480,130
 (a)
Total Oil, Gas & Consumable Fuels
62,876,935
 
Total Energy
63,762,199
Financials — 9.1%
Banks — 5.1%
Banco Mercantil del Norte SA, Junior Subordinated Notes (6.625% to
1/24/32 then 10 year Treasury Constant Maturity Rate + 5.034%)
6.625%
1/24/32
3,200,000
 
2,812,115
 (a)(c)(d)
Banco Mercantil del Norte SA, Junior Subordinated Notes (8.375% to
10/14/30 then 10 year Treasury Constant Maturity Rate + 7.760%)
8.375%
10/14/30
500,000
 
505,182
 (a)(c)(d)
BBVA Bancomer SA, Subordinated Notes (5.125% to 1/17/28 then 5 year
Treasury Constant Maturity Rate + 2.650%)
5.125%
1/18/33
1,960,000
 
1,787,641
 (a)(d)
BNP Paribas SA, Junior Subordinated Notes (7.750% to 8/16/29 then 5 year
Treasury Constant Maturity Rate + 4.899%)
7.750%
8/16/29
1,470,000
 
1,486,192
 (a)(c)(d)
Credit Agricole SA, Junior Subordinated Notes (8.125% to 12/23/25 then
USD 5 year ICE Swap Rate + 6.185%)
8.125%
12/23/25
2,290,000
 
2,326,969
 (a)(c)(d)
HSBC Holdings PLC, Subordinated Notes (8.113% to 11/3/32 then SOFR +
4.250%)
8.113%
11/3/33
1,440,000
 
1,627,467
 (d)
Intesa Sanpaolo SpA, Subordinated Notes
5.710%
1/15/26
2,800,000
 
2,774,694
 (a)
Lloyds Banking Group PLC, Junior Subordinated Notes (6.750% to 6/27/26
then 5 year Treasury Constant Maturity Rate + 4.815%)
6.750%
6/27/26
2,060,000
 
2,054,002
 (c)(d)
Lloyds Banking Group PLC, Junior Subordinated Notes (8.000% to 3/27/30
then 5 year Treasury Constant Maturity Rate + 3.913%)
8.000%
9/27/29
1,840,000
 
1,885,454
 (c)(d)
UniCredit SpA, Subordinated Notes (7.296% to 4/2/29 then USD 5 year ICE
Swap Rate + 4.914%)
7.296%
4/2/34
2,710,000
 
2,766,998
 (a)(d)
Total Banks
20,026,714
Capital Markets — 0.4%
Credit Suisse AG AT1 Claim
—
—
10,560,000
 
316,800
 *(e)(f)
StoneX Group Inc., Senior Secured Notes
7.875%
3/1/31
640,000
 
660,603
 (a)
UBS Group AG, Junior Subordinated Notes (9.250% to 11/13/28 then 5 year
Treasury Constant Maturity Rate + 4.745%)
9.250%
11/13/28
510,000
 
549,985
 (a)(c)(d)
Total Capital Markets
1,527,388
Consumer Finance — 0.6%
Navient Corp., Senior Notes
5.875%
10/25/24
1,080,000
 
1,079,169
 
Navient Corp., Senior Notes
6.750%
6/15/26
1,400,000
 
1,409,635
 
Total Consumer Finance
2,488,804
See Notes to Schedule of Investments.
4
Western Asset High Income Opportunity Fund Inc. 2024 Quarterly Report
 Western Asset High Income Opportunity Fund Inc.
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Financial Services — 2.2%
Boost Newco Borrower LLC, Senior Secured Notes
7.500%
1/15/31
460,000
 
 $479,965
 (a)
Global Aircraft Leasing Co. Ltd., Senior Notes (6.500% Cash or 7.250% PIK)
6.500%
9/15/24
1,753,143
 
1,689,271
 (a)(g)
GTCR W Dutch Finance Sub BV, Senior Secured Notes
8.500%
1/15/31
1,160,000
 GBP
1,574,720
 (a)
Jane Street Group/JSG Finance Inc., Senior Secured Notes
7.125%
4/30/31
1,640,000
 
1,683,098
 (a)
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc., Senior Notes
3.625%
3/1/29
500,000
 
453,965
 (a)
VFH Parent LLC/Valor Co-Issuer Inc., Senior Secured Notes
7.500%
6/15/31
780,000
 
784,391
 (a)
VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior Notes
7.875%
5/1/27
1,250,000
 
1,106,153
 (a)
VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior Notes
6.375%
2/1/30
880,000
 
692,443
 (a)
Total Financial Services
8,464,006
Insurance — 0.3%
MetLife Capital Trust IV, Junior Subordinated Notes
7.875%
12/15/37
1,010,000
 
1,084,339
 (a)
Mortgage Real Estate Investment Trusts (REITs) — 0.5%
Apollo Commercial Real Estate Finance Inc., Senior Secured Notes
4.625%
6/15/29
750,000
 
629,578
 (a)
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., Senior
Notes
5.250%
10/1/25
750,000
 
744,057
 (a)
Starwood Property Trust Inc., Senior Notes
7.250%
4/1/29
780,000
 
789,338
 (a)
Total Mortgage Real Estate Investment Trusts (REITs)
2,162,973
 
Total Financials
35,754,224
Health Care — 7.0%
Health Care Providers & Services — 5.3%
Centene Corp., Senior Notes
3.375%
2/15/30
1,400,000
 
1,243,709
 
CHS/Community Health Systems Inc., Senior Secured Notes
5.625%
3/15/27
500,000
 
466,056
 (a)
CHS/Community Health Systems Inc., Senior Secured Notes
6.000%
1/15/29
500,000
 
441,698
 (a)
CHS/Community Health Systems Inc., Senior Secured Notes
4.750%
2/15/31
2,440,000
 
1,920,721
 (a)
CHS/Community Health Systems Inc., Senior Secured Notes
10.875%
1/15/32
1,650,000
 
1,719,360
 (a)
HCA Inc., Senior Notes
7.690%
6/15/25
490,000
 
498,237
 
HCA Inc., Senior Notes
7.500%
11/15/95
6,265,000
 
6,760,842
 
Legacy LifePoint Health LLC, Senior Secured Notes
4.375%
2/15/27
750,000
 
717,062
 (a)
Sotera Health Holdings LLC, Senior Secured Notes
7.375%
6/1/31
990,000
 
992,708
 (a)
Tenet Healthcare Corp., Secured Notes
6.250%
2/1/27
3,910,000
 
3,910,798
 
Tenet Healthcare Corp., Senior Notes
6.125%
10/1/28
1,890,000
 
1,881,976
 
Tenet Healthcare Corp., Senior Notes
6.875%
11/15/31
250,000
 
264,055
 
Total Health Care Providers & Services
20,817,222
Pharmaceuticals — 1.7%
Bausch Health Cos. Inc., Senior Secured Notes
4.875%
6/1/28
1,660,000
 
1,244,245
 (a)
Cidron Aida Finco Sarl, Senior Secured Notes
5.000%
4/1/28
637,000
 EUR
632,511
 (a)
Endo Finance Holdings Inc., Senior Secured Notes
8.500%
4/15/31
1,000,000
 
1,033,227
 (a)
Par Pharmaceutical Inc., Escrow
—
—
70,000
 
0
 *(a)(e)(f)(h)
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes
3.150%
10/1/26
1,150,000
 
1,080,204
 
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes
5.125%
5/9/29
880,000
 
847,280
 
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes
4.100%
10/1/46
2,550,000
 
1,783,787
 
Total Pharmaceuticals
6,621,254
 
Total Health Care
27,438,476
See Notes to Schedule of Investments.
5
Western Asset High Income Opportunity Fund Inc. 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
June 30, 2024
 Western Asset High Income Opportunity Fund Inc.
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Industrials — 10.4%
Aerospace & Defense — 1.8%
Bombardier Inc., Senior Notes
7.500%
2/1/29
2,990,000
 
 $3,101,599
 (a)
Bombardier Inc., Senior Notes
7.250%
7/1/31
500,000
 
513,985
 (a)
TransDigm Inc., Senior Secured Notes
7.125%
12/1/31
1,930,000
 
1,991,040
 (a)
TransDigm Inc., Senior Secured Notes
6.625%
3/1/32
1,250,000
 
1,264,137
 (a)
Total Aerospace & Defense
6,870,761
Building Products — 0.5%
Masterbrand Inc., Senior Notes
7.000%
7/15/32
630,000
 
637,545
 (a)
Standard Industries Inc., Senior Notes
5.000%
2/15/27
860,000
 
836,753
 (a)
Standard Industries Inc., Senior Notes
4.375%
7/15/30
342,000
 
309,288
 (a)
Total Building Products
1,783,586
Commercial Services & Supplies — 2.2%
CoreCivic Inc., Senior Notes
4.750%
10/15/27
1,160,000
 
1,091,737
 
CoreCivic Inc., Senior Notes
8.250%
4/15/29
3,330,000
 
3,444,915
 
GEO Group Inc., Senior Notes
10.250%
4/15/31
1,460,000
 
1,528,839
 (a)
GEO Group Inc., Senior Secured Notes
8.625%
4/15/29
1,210,000
 
1,240,354
 (a)
GFL Environmental Inc., Senior Secured Notes
6.750%
1/15/31
1,360,000
 
1,389,150
 (a)
Total Commercial Services & Supplies
8,694,995
Electrical Equipment — 0.2%
Sensata Technologies BV, Senior Notes
4.000%
4/15/29
750,000
 
689,205
 (a)
Ground Transportation — 0.3%
XPO Inc., Senior Notes
7.125%
2/1/32
1,000,000
 
1,025,855
 (a)
Machinery — 0.4%
Titan International Inc., Senior Secured Notes
7.000%
4/30/28
1,730,000
 
1,665,391
 
Passenger Airlines — 4.4%
American Airlines Group Inc., Senior Notes
3.750%
3/1/25
5,470,000
 
5,388,188
 (a)
American Airlines Inc., Senior Secured Notes
8.500%
5/15/29
1,980,000
 
2,058,392
 (a)
Delta Air Lines Inc., Senior Notes
2.900%
10/28/24
2,580,000
 
2,554,796
 
Delta Air Lines Inc., Senior Notes
7.375%
1/15/26
720,000
 
735,075
 
Delta Air Lines Inc., Senior Secured Notes
7.000%
5/1/25
4,280,000
 
4,313,128
 (a)
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes
8.000%
9/20/25
3,135,999
 
2,291,753
 (a)
Total Passenger Airlines
17,341,332
Trading Companies & Distributors — 0.6%
H&E Equipment Services Inc., Senior Notes
3.875%
12/15/28
1,270,000
 
1,147,348
 (a)
United Rentals North America Inc., Senior Notes
5.500%
5/15/27
376,000
 
373,425
 
United Rentals North America Inc., Senior Notes
6.125%
3/15/34
1,000,000
 
997,603
 (a)
Total Trading Companies & Distributors
2,518,376
 
Total Industrials
40,589,501
Information Technology — 2.4%
Communications Equipment — 1.0%
CommScope Inc., Senior Notes
7.125%
7/1/28
190,000
 
78,956
 (a)
CommScope Technologies LLC, Senior Notes
5.000%
3/15/27
2,960,000
 
1,229,779
 (a)
Viasat Inc., Senior Notes
7.500%
5/30/31
2,420,000
 
1,610,604
 (a)
Viasat Inc., Senior Secured Notes
5.625%
4/15/27
1,000,000
 
895,873
 (a)
Total Communications Equipment
3,815,212
See Notes to Schedule of Investments.
6
Western Asset High Income Opportunity Fund Inc. 2024 Quarterly Report
 Western Asset High Income Opportunity Fund Inc.
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Electronic Equipment, Instruments & Components — 0.1%
EquipmentShare.com Inc., Secured Notes
8.625%
5/15/32
450,000
 
 $467,177
 (a)
Software — 0.8%
Cloud Software Group Inc., Senior Secured Notes
8.250%
6/30/32
2,320,000
 
2,366,101
 (a)
Open Text Corp., Senior Notes
3.875%
2/15/28
1,000,000
 
926,599
 (a)
Total Software
3,292,700
Technology Hardware, Storage & Peripherals — 0.5%
Seagate HDD Cayman, Senior Notes
4.750%
1/1/25
670,000
 
665,661
 
Seagate HDD Cayman, Senior Notes
4.875%
6/1/27
400,000
 
391,291
 
Vericast Corp., Senior Secured Notes
11.000%
9/15/26
650,000
 
697,125
 (a)
Total Technology Hardware, Storage & Peripherals
1,754,077
 
Total Information Technology
9,329,166
Materials — 4.7%
Chemicals — 0.5%
Braskem Netherlands Finance BV, Senior Notes
5.875%
1/31/50
450,000
 
332,759
 (b)
Sasol Financing USA LLC, Senior Notes
8.750%
5/3/29
1,540,000
 
1,567,685
 (a)
Total Chemicals
1,900,444
Construction Materials — 0.6%
Smyrna Ready Mix Concrete LLC, Senior Secured Notes
8.875%
11/15/31
2,250,000
 
2,389,469
 (a)
Containers & Packaging — 1.4%
ARD Finance SA, Senior Secured Notes (6.500% Cash or 7.250% PIK)
6.500%
6/30/27
1,280,000
 
325,773
 (a)(g)
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance
PLC, Senior Notes
4.000%
9/1/29
1,170,000
 
991,423
 (a)
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes
5.250%
8/15/27
1,578,000
 
984,533
 (a)
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes
5.250%
8/15/27
1,510,000
 
942,107
 (a)
Canpack SA/Canpack US LLC, Senior Notes
3.875%
11/15/29
1,550,000
 
1,391,563
 (a)
Pactiv LLC, Senior Notes
8.375%
4/15/27
750,000
 
785,299
 
Total Containers & Packaging
5,420,698
Metals & Mining — 2.2%
ArcelorMittal SA, Senior Notes
7.000%
10/15/39
1,870,000
 
2,010,938
 
First Quantum Minerals Ltd., Secured Notes
9.375%
3/1/29
920,000
 
962,435
 (a)
First Quantum Minerals Ltd., Senior Notes
6.875%
10/15/27
750,000
 
733,542
 (a)
Freeport-McMoRan Inc., Senior Notes
5.450%
3/15/43
1,010,000
 
960,060
 
Vale Overseas Ltd., Senior Notes
6.875%
11/21/36
2,320,000
 
2,491,135
 
Vale Overseas Ltd., Senior Notes
6.875%
11/10/39
1,500,000
 
1,600,405
 
Total Metals & Mining
8,758,515
 
Total Materials
18,469,126
Real Estate — 1.6%
Health Care REITs — 0.0%††
Diversified Healthcare Trust, Senior Notes
4.375%
3/1/31
240,000
 
175,089
 
Hotel & Resort REITs — 0.8%
Service Properties Trust, Senior Notes
3.950%
1/15/28
226,000
 
189,514
 
Service Properties Trust, Senior Notes
8.875%
6/15/32
3,210,000
 
2,996,648
 
Total Hotel & Resort REITs
3,186,162
Real Estate Management & Development — 0.2%
Add Hero Holdings Ltd., Senior Secured Notes (7.500% Cash or 8.500% PIK)
8.500%
9/30/29
295,336
 
15,505
 (b)(g)
See Notes to Schedule of Investments.
7
Western Asset High Income Opportunity Fund Inc. 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
June 30, 2024
 Western Asset High Income Opportunity Fund Inc.
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Real Estate Management & Development — continued
Add Hero Holdings Ltd., Senior Secured Notes (8.000% Cash or 9.000% PIK)
9.000%
9/30/30
227,726
 
 $5,693
 (b)(g)
Add Hero Holdings Ltd., Senior Secured Notes (8.800% Cash or 9.800% PIK)
9.800%
9/30/31
297,178
 
7,429
 (b)(g)
China Aoyuan Group Ltd., Senior Notes, Step bond (0.000% to 9/30/31 then
1.000%)
0.000%
3/30/2173
450,290
 
4,503
 (b)(c)
China Aoyuan Group Ltd., Senior Secured Notes (5.500% PIK)
5.500%
9/30/31
115,666
 
1,157
 (b)(g)
Country Garden Holdings Co. Ltd., Senior Secured Notes
—
1/27/24
2,016,000
 
159,264
 *(b)(i)
Cushman & Wakefield US Borrower LLC, Senior Secured Notes
8.875%
9/1/31
420,000
 
442,275
 (a)
Total Real Estate Management & Development
635,826
Specialized REITs — 0.6%
Iron Mountain Inc., Senior Notes
7.000%
2/15/29
2,350,000
 
2,393,712
 (a)
 
Total Real Estate
6,390,789
Utilities — 1.7%
Electric Utilities — 0.8%
Vistra Operations Co. LLC, Senior Notes
7.750%
10/15/31
920,000
 
958,802
 (a)
Vistra Operations Co. LLC, Senior Notes
6.875%
4/15/32
2,250,000
 
2,285,858
 (a)
Total Electric Utilities
3,244,660
Gas Utilities — 0.9%
Suburban Propane Partners LP/Suburban Energy Finance Corp., Senior
Notes
5.875%
3/1/27
3,290,000
 
3,258,857
 
 
Total Utilities
6,503,517
Total Corporate Bonds & Notes (Cost — $319,484,511)