Schedule of Investments (unaudited)
September 30, 2024
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets) 
Security
 
Rate
Maturity
Date
Face
Amount†
Value
Corporate Bonds & Notes — 63.3%
Communication Services — 9.2%
Diversified Telecommunication Services — 0.9%
Altice Financing SA, Senior Secured Notes
5.750%
8/15/29
4,000,000
 
 $3,218,256
 (a)
Altice France Holding SA, Senior Secured Notes
10.500%
5/15/27
7,000,000
 
2,428,075
 (a)
Altice France SA, Senior Secured Notes
5.125%
7/15/29
1,000,000
 
704,148
 (a)(b)
Altice France SA, Senior Secured Notes
5.500%
10/15/29
1,000,000
 
701,539
 (a)(b)
Total Diversified Telecommunication Services
7,052,018
Entertainment — 1.7%
Allen Media LLC/Allen Media Co-Issuer Inc., Senior Notes
10.500%
2/15/28
7,160,000
 
3,115,889
 (a)
AMC Entertainment Holdings Inc., Senior Notes
5.750%
6/15/25
2,500,000
 
2,447,498
 
AMC Entertainment Holdings Inc., Senior Secured Notes
7.500%
2/15/29
4,780,000
 
3,767,889
 (a)(b)
Banijay Entertainment SAS, Senior Secured Notes
8.125%
5/1/29
2,000,000
 
2,080,406
 (a)(b)
Nexstar Media Inc., Senior Notes
5.625%
7/15/27
2,500,000
 
2,478,130
 (a)(b)
Total Entertainment
13,889,812
Media — 5.3%
AMC Networks Inc., Senior Secured Notes
10.250%
1/15/29
3,000,000
 
3,085,590
 (a)(b)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes
4.750%
2/1/32
5,000,000
 
4,410,691
 (a)(b)
Charter Communications Operating LLC/Charter Communications
Operating Capital Corp., Senior Secured Notes
6.834%
10/23/55
5,000,000
 
4,996,539
 (b)
DirecTV Financing LLC, Senior Secured Notes
8.875%
2/1/30
5,000,000
 
5,034,680
 (a)(b)
DISH DBS Corp., Senior Notes
5.875%
11/15/24
3,000,000
 
2,985,302
 
DISH DBS Corp., Senior Secured Notes
5.250%
12/1/26
4,500,000
 
4,166,992
 (a)
DISH Network Corp., Senior Secured Notes
11.750%
11/15/27
1,000,000
 
1,050,345
 (a)
Gray Television Inc., Senior Notes
7.000%
5/15/27
4,250,000
 
4,180,737
 (a)(b)
Historic TW Inc., Senior Notes
8.300%
1/15/36
10,000,000
 
11,112,974
 
iHeartCommunications Inc., Senior Secured Notes
6.375%
5/1/26
2,000,000
 
1,752,338
 (b)
Total Media
42,776,188
Wireless Telecommunication Services — 1.3%
CSC Holdings LLC, Senior Notes
7.500%
4/1/28
5,360,000
 
3,587,391
 (a)(b)
CSC Holdings LLC, Senior Notes
11.750%
1/31/29
7,530,000
 
7,283,138
 (a)
Total Wireless Telecommunication Services
10,870,529
 
Total Communication Services
74,588,547
Consumer Discretionary — 14.8%
Automobile Components — 0.5%
Carbon Revolution Ltd., Senior Secured Notes
8.500%
5/15/27
3,035,152
 
3,023,770
 (a)
JB Poindexter & Co. Inc., Senior Notes
8.750%
12/15/31
1,000,000
 
1,058,514
 (a)(b)
Total Automobile Components
4,082,284
Automobiles — 2.5%
Aston Martin Capital Holdings Ltd., Senior Secured Notes
10.000%
3/31/29
2,000,000
 
1,964,397
 (a)
Ford Motor Co., Senior Notes
8.900%
1/15/32
1,517,000
 
1,785,457
 
Ford Motor Co., Senior Notes
6.100%
8/19/32
1,000,000
 
1,025,375
 (b)
Mclaren Finance PLC, Senior Secured Notes
7.500%
8/1/26
6,500,000
 
6,030,781
 (a)(b)
PM General Purchaser LLC, Senior Secured Notes
9.500%
10/1/28
9,410,000
 
9,581,300
 (a)(b)
Total Automobiles
20,387,310
Broadline Retail — 1.0%
QVC Inc., Senior Secured Notes
4.375%
9/1/28
9,670,000
 
7,845,126
 
See Notes to Schedule of Investments.
1
Western Asset Diversified Income Fund 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
September 30, 2024
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Distributors — 0.9%
Accelerate360 Holdings LLC, Secured Notes
8.000%
3/1/28
4,259,550
 
 $4,417,430
 (a)
American News Co. LLC, Secured Notes (8.500% Cash or 10.000% PIK)
8.500%
9/1/26
2,275,354
 
2,560,683
 (a)(b)(c)
Total Distributors
6,978,113
Diversified Consumer Services — 0.1%
WW International Inc., Senior Secured Notes
4.500%
4/15/29
3,500,000
 
807,833
 (a)
Hotels, Restaurants & Leisure — 5.3%
888 Acquisitions Ltd., Senior Secured Notes
7.558%
7/15/27
2,000,000
 EUR
2,186,922
 (a)
Carnival Corp., Senior Notes
10.500%
6/1/30
5,000,000
 
5,431,927
 (a)(b)
Carnival Holdings Bermuda Ltd., Senior Notes
10.375%
5/1/28
6,500,000
 
7,018,007
 (a)(b)
Full House Resorts Inc., Senior Secured Notes
8.250%
2/15/28
8,000,000
 
8,017,680
 (a)(b)
Melco Resorts Finance Ltd., Senior Notes
4.875%
6/6/25
800,000
 
793,172
 (a)(b)
Mohegan Tribal Gaming Authority, Secured Notes
8.000%
2/1/26
3,500,000
 
3,464,073
 (a)(b)
NCL Corp. Ltd., Senior Secured Notes
8.125%
1/15/29
4,000,000
 
4,280,876
 (a)(b)
Pinnacle Bidco PLC, Senior Secured Notes
10.000%
10/11/28
2,500,000
 GBP
3,570,074
 (a)
Royal Caribbean Cruises Ltd., Senior Notes
5.625%
9/30/31
720,000
 
729,900
 (a)(b)
Wynn Macau Ltd., Senior Notes
5.500%
1/15/26
5,000,000
 
4,965,856
 (a)
Wynn Macau Ltd., Senior Notes
5.500%
10/1/27
3,000,000
 
2,935,328
 (a)
Total Hotels, Restaurants & Leisure
43,393,815
Household Durables — 1.1%
Newell Brands Inc., Senior Notes
5.700%
4/1/26
3,500,000
 
3,511,616
 
Newell Brands Inc., Senior Notes
7.000%
4/1/46
6,500,000
 
5,827,418
 
Total Household Durables
9,339,034
Specialty Retail — 3.4%
Bath & Body Works Inc., Senior Notes
6.750%
7/1/36
3,250,000
 
3,352,937
 (b)
Bath & Body Works Inc., Senior Notes
7.600%
7/15/37
4,275,000
 
4,277,677
 (b)
Foot Locker Inc., Senior Notes
4.000%
10/1/29
6,500,000
 
5,658,909
 (a)
Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes
8.375%
1/15/29
2,000,000
 
1,936,333
 (a)(b)
Global Auto Holdings Ltd./AAG FH UK Ltd., Senior Notes
8.750%
1/15/32
4,020,000
 
3,764,873
 (a)(b)
Michaels Cos. Inc., Senior Secured Notes
5.250%
5/1/28
5,965,000
 
4,408,697
 (a)(b)
PetSmart Inc./PetSmart Finance Corp., Senior Notes
7.750%
2/15/29
1,500,000
 
1,482,211
 (a)(b)
Staples Inc., Secured Notes
12.750%
1/15/30
1,315,228
 
1,081,836
 (a)
Upbound Group Inc., Senior Notes
6.375%
2/15/29
2,000,000
 
1,938,337
 (a)(b)
Total Specialty Retail
27,901,810
 
Total Consumer Discretionary
120,735,325
Consumer Staples — 1.3%
Food Products — 0.9%
TKC Holdings Inc., Senior Notes
10.500%
5/15/29
3,500,000
 
3,522,509
 (a)
TKC Holdings Inc., Senior Secured Notes
6.875%
5/15/28
3,500,000
 
3,461,240
 (a)(b)
Total Food Products
6,983,749
Tobacco — 0.4%
Vector Group Ltd., Senior Secured Notes
5.750%
2/1/29
3,500,000
 
3,550,561
 (a)(b)
 
Total Consumer Staples
10,534,310
Energy — 9.8%
Energy Equipment & Services — 1.1%
Shelf Drilling Holdings Ltd., Senior Secured Notes
9.625%
4/15/29
6,000,000
 
5,539,203
 (a)(b)
See Notes to Schedule of Investments.
2
Western Asset Diversified Income Fund 2024 Quarterly Report
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Energy Equipment & Services — continued
Sunnova Energy Corp., Senior Notes
5.875%
9/1/26
3,500,000
 
 $3,270,846
 (a)(b)
Total Energy Equipment & Services
8,810,049
Oil, Gas & Consumable Fuels — 8.7%
Berry Petroleum Co. LLC, Senior Notes
7.000%
2/15/26
3,922,000
 
3,809,039
 (a)(b)
Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes
6.625%
7/15/26
362,000
 
362,914
 (a)(b)
Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes
7.250%
7/15/32
1,000,000
 
1,050,240
 (a)(b)
Crescent Energy Finance LLC, Senior Notes
9.250%
2/15/28
3,710,000
 
3,871,838
 (a)(b)
Energy Transfer LP, Junior Subordinated Notes (6.625% to 2/15/28 then
3 mo. USD LIBOR + 4.155%)
6.625%
2/15/28
6,645,000
 
6,574,674
 (b)(d)(e)
EnLink Midstream Partners LP, Junior Subordinated Notes (3 mo. Term
SOFR + 4.372%)
9.313%
10/17/24
5,000,000
 
5,020,042
 (b)(d)(e)
EQM Midstream Partners LP, Senior Notes
6.500%
7/15/48
3,000,000
 
3,104,553
 (b)
Hilcorp Energy I LP/Hilcorp Finance Co., Senior Notes
6.250%
4/15/32
7,000,000
 
6,819,246
 (a)(b)
New Generation Gas Gathering LLC, Senior Secured Notes (3 mo. Term
SOFR + 5.750%)
10.342%
9/30/29
1,278,379
 
1,259,203
 (a)(f)
Northern Oil & Gas Inc., Senior Notes
8.125%
3/1/28
1,000,000
 
1,008,084
 (a)(b)
Occidental Petroleum Corp., Senior Notes
7.500%
11/1/96
8,610,000
 
9,392,502
 
Permian Resources Operating LLC, Senior Notes
9.875%
7/15/31
2,000,000
 
2,233,678
 (a)(b)
Plains All American Pipeline LP, Junior Subordinated Notes (3 mo. Term
SOFR + 4.372%)
9.490%
10/31/24
7,000,000
 
7,004,843
 (d)(e)
Rockies Express Pipeline LLC, Senior Notes
7.500%
7/15/38
8,300,000
 
8,651,007
 (a)(b)
Rockies Express Pipeline LLC, Senior Notes
6.875%
4/15/40
1,000,000
 
975,120
 (a)(b)
Venture Global LNG Inc., Senior Secured Notes
8.375%
6/1/31
5,000,000
 
5,283,030
 (a)(b)
Venture Global LNG Inc., Senior Secured Notes
9.875%
2/1/32
4,360,000
 
4,847,521
 (a)(b)
Total Oil, Gas & Consumable Fuels
71,267,534
 
Total Energy
80,077,583
Financials — 5.3%
Capital Markets — 0.9%
B3 SA - Brasil Bolsa Balcao, Senior Notes
4.125%
9/20/31
2,200,000
 
2,029,548
 (a)(g)
StoneX Group Inc., Senior Secured Notes
7.875%
3/1/31
3,000,000
 
3,196,953
 (a)(b)
UBS AG, Senior Notes
7.950%
1/9/25
2,000,000
 
2,015,661
 (b)
Total Capital Markets
7,242,162
Consumer Finance — 1.2%
Navient Corp., Senior Notes
5.500%
3/15/29
10,000,000
 
9,709,606
 (b)
Financial Services — 2.4%
Boost Newco Borrower LLC, Senior Secured Notes
7.500%
1/15/31
3,000,000
 
3,221,631
 (a)(b)
Burford Capital Global Finance LLC, Senior Notes
6.250%
4/15/28
4,000,000
 
3,995,071
 (a)(b)
LD Holdings Group LLC, Senior Notes
6.500%
11/1/25
5,000,000
 
4,846,989
 (a)
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc., Senior Notes
4.000%
10/15/33
1,000,000
 
894,131
 (a)(b)
VistaJet Malta Finance PLC/Vista Management Holding Inc., Senior
Notes
7.875%
5/1/27
6,500,000
 
6,350,347
 (a)(b)
Total Financial Services
19,308,169
Mortgage Real Estate Investment Trusts (REITs) — 0.8%
Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp.,
Senior Notes
4.750%
6/15/29
7,000,000
 
6,842,380
 (a)(b)
 
Total Financials
43,102,317
See Notes to Schedule of Investments.
3
Western Asset Diversified Income Fund 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
September 30, 2024
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Health Care — 5.3%
Health Care Providers & Services — 3.8%
Akumin Inc., Senior Secured Notes
8.000%
8/1/28
6,982,000
 
 $5,716,512
 (a)(b)
CHS/Community Health Systems Inc., Secured Notes
6.125%
4/1/30
13,500,000
 
11,553,949
 (a)
CHS/Community Health Systems Inc., Senior Secured Notes
4.750%
2/15/31
3,000,000
 
2,639,331
 (a)(b)
CHS/Community Health Systems Inc., Senior Secured Notes
10.875%
1/15/32
3,030,000
 
3,342,802
 (a)(b)
LifePoint Health Inc., Senior Secured Notes
9.875%
8/15/30
3,000,000
 
3,306,763
 (a)(b)
Sotera Health Holdings LLC, Senior Secured Notes
7.375%
6/1/31
2,500,000
 
2,599,398
 (a)(b)
U.S. Renal Care Inc., Senior Secured Notes
10.625%
6/28/28
1,883,000
 
1,652,333
 (a)
Total Health Care Providers & Services
30,811,088
Pharmaceuticals — 1.5%
Bausch Health Cos. Inc., Senior Notes
7.000%
1/15/28
5,000,000
 
3,432,306
 (a)
Bausch Health Cos. Inc., Senior Notes
6.250%
2/15/29
7,616,000
 
4,672,985
 (a)
Teva Pharmaceutical Finance Co. LLC, Senior Notes
6.150%
2/1/36
2,000,000
 
2,061,316
 (b)
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes
4.100%
10/1/46
3,000,000
 
2,232,498
 
Total Pharmaceuticals
12,399,105
 
Total Health Care
43,210,193
Industrials — 10.6%
Aerospace & Defense — 0.9%
Triumph Group Inc., Senior Secured Notes
9.000%
3/15/28
7,200,000
 
7,546,071
 (a)(b)
Commercial Services & Supplies — 1.1%
CoreCivic Inc., Senior Notes
8.250%
4/15/29
3,359,000
 
3,558,471
 (b)
GEO Group Inc., Senior Notes
10.250%
4/15/31
2,100,000
 
2,240,706
 (b)
GEO Group Inc., Senior Secured Notes
8.625%
4/15/29
1,040,000
 
1,082,000
 (b)
Vortex Opco LLC, Senior Secured Notes
8.000%
4/30/30
4,075,500
 
1,630,200
 (a)
Vortex Opco LLC, Senior Secured Notes (3 mo. Term SOFR + 6.250%)
10.842%
4/30/30
936,000
 
374,400
 (a)(e)(f)(h)
Total Commercial Services & Supplies
8,885,777
Construction & Engineering — 1.2%
Empire Communities Corp., Senior Notes
9.750%
5/1/29
3,000,000
 
3,206,838
 (a)(b)
Tutor Perini Corp., Senior Notes
11.875%
4/30/29
6,000,000
 
6,693,924
 (a)(b)
Total Construction & Engineering
9,900,762
Ground Transportation — 0.9%
Carriage Purchaser Inc., Senior Notes
7.875%
10/15/29
7,000,000
 
6,512,015
 (a)(b)
RXO Inc., Senior Notes
7.500%
11/15/27
1,000,000
 
1,032,240
 (a)(b)
Total Ground Transportation
7,544,255
Machinery — 1.8%
Chart Industries Inc., Senior Secured Notes
7.500%
1/1/30
3,000,000
 
3,165,528
 (a)(b)
Park-Ohio Industries Inc., Senior Notes
6.625%
4/15/27
3,635,000
 
3,569,553
 (b)
Titan International Inc., Senior Secured Notes
7.000%
4/30/28
6,820,000
 
6,792,855
 (b)
TK Elevator US Newco Inc., Senior Secured Notes
5.250%
7/15/27
1,000,000
 
989,997
 (a)(b)
Total Machinery
14,517,933
Marine Transportation — 0.7%
Stena International SA, Senior Secured Notes
7.625%
2/15/31
5,000,000
 
5,251,919
 (a)(b)
Passenger Airlines — 2.1%
American Airlines Group Inc. Pass-Through Trust
4.000%
7/15/25
5,204,345
 
5,127,418
 
American Airlines Inc., Senior Secured Notes
8.500%
5/15/29
3,500,000
 
3,715,737
 (a)(b)
See Notes to Schedule of Investments.
4
Western Asset Diversified Income Fund 2024 Quarterly Report
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Passenger Airlines — continued
RJET 2023-1 A
8.000%
6/15/30
4,687,500
 
 $4,849,019
 (f)(h)
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes
8.000%
9/20/25
310,000
 
170,597
 (a)
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes
8.000%
9/20/25
6,490,000
 
3,571,525
 (a)
Total Passenger Airlines
17,434,296
Professional Services — 0.4%
RR Donnelley & Sons Co., Secured Notes
10.875%
8/1/29
1,830,000
 
1,775,349
 (a)(b)
RR Donnelley & Sons Co., Senior Secured Notes
9.500%
8/1/29
1,500,000
 
1,514,318
 (a)(b)
Total Professional Services
3,289,667
Transportation Infrastructure — 1.5%
Gatwick Airport Finance PLC, Senior Secured Notes
4.375%
4/7/26
3,000,000
 GBP
3,930,399
 (i)
Railworks Holdings LP/Railworks Rally Inc., Secured Notes
8.250%
11/15/28
8,000,000
 
8,282,400
 (a)(b)
Total Transportation Infrastructure
12,212,799
 
Total Industrials
86,583,479
Information Technology — 3.1%
Communications Equipment — 1.4%
CommScope Technologies LLC, Senior Notes
5.000%
3/15/27
7,589,000
 
6,359,064
 (a)(b)
Connect Finco SARL/Connect US Finco LLC, Senior Secured Notes
9.000%
9/15/29
2,000,000
 
1,937,970
 (a)(b)
Viasat Inc., Senior Notes
7.500%
5/30/31
1,875,000
 
1,293,225
 (a)(b)
Viasat Inc., Senior Secured Notes
5.625%
4/15/27
2,000,000
 
1,889,033
 (a)(b)
Total Communications Equipment
11,479,292
Software — 1.4%
Central Parent Inc./CDK Global Inc., Senior Secured Notes
7.250%
6/15/29
2,000,000
 
2,047,038
 (a)(b)
Citrix Systems Inc., Senior Secured Notes
4.500%
12/1/27
6,936,000
 
6,237,683
 
NCR Voyix Corp., Senior Notes
5.125%
4/15/29
3,000,000
 
2,938,270
 (a)(b)
Total Software
11,222,991
Technology Hardware, Storage & Peripherals — 0.3%
CA Magnum Holdings, Senior Secured Notes
5.375%
10/31/26
1,500,000
 
1,481,237
 (a)(b)
Vericast Corp./Harland Clarke/Checks in the Mail/Valassis Comm/
Valassis Direct, Secured Notes (5.000% Cash and 10.000% PIK or
13.000% Cash)
13.000%
12/15/30
613,749
 
718,086
 (a)(c)
Total Technology Hardware, Storage & Peripherals
2,199,323
 
Total Information Technology
24,901,606
Materials — 1.7%
Chemicals — 0.2%
Cerdia Finanz GmbH, Senior Secured Notes
9.375%
10/3/31
1,500,000
 
1,533,750
 (a)(j)
Construction Materials — 0.3%
Smyrna Ready Mix Concrete LLC, Senior Secured Notes
8.875%
11/15/31
2,500,000
 
2,699,196
 (a)(b)
Containers & Packaging — 0.2%
ARD Finance SA, Senior Secured Notes (6.500% Cash or 7.250% PIK)
6.500%
6/30/27
1,000,000
 
226,442
 (a)(c)
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes
5.250%
8/15/27
2,000,000
 
1,492,731
 (a)
Total Containers & Packaging
1,719,173
Metals & Mining — 1.0%
First Quantum Minerals Ltd., Secured Notes
9.375%
3/1/29
2,550,000
 
2,706,045
 (a)
First Quantum Minerals Ltd., Senior Notes
6.875%
10/15/27
3,400,000
 
3,364,675
 (a)
See Notes to Schedule of Investments.
5
Western Asset Diversified Income Fund 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
September 30, 2024
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Metals & Mining — continued
First Quantum Minerals Ltd., Senior Notes
8.625%
6/1/31
2,000,000
 
 $2,006,504
 (a)
Total Metals & Mining
8,077,224
 
Total Materials
14,029,343
Real Estate — 1.5%
Diversified REITs — 0.8%
MPT Operating Partnership LP/MPT Finance Corp., Senior Notes
5.250%
8/1/26
2,500,000
 
2,383,050
 (b)
MPT Operating Partnership LP/MPT Finance Corp., Senior Notes
5.000%
10/15/27
5,000,000
 
4,489,939
 (b)
Total Diversified REITs
6,872,989
Hotel & Resort REITs — 0.5%
Service Properties Trust, Senior Secured Notes
8.625%
11/15/31
3,500,000
 
3,809,047
 (a)(b)
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
516,154
 
43,873
 (c)(i)
Add Hero Holdings Ltd., Senior Secured Notes (8.000% Cash or 9.000%
PIK)
9.000%
9/30/30
397,993
 
10,447
 (c)(i)
Add Hero Holdings Ltd., Senior Secured Notes (8.800% Cash or 9.800%
PIK)
9.800%
9/30/31
519,371
 
13,633
 (c)(i)
China Aoyuan Group Ltd., Senior Notes, Step bond (0.000% to 9/30/31
then 1.000%)
0.000%
3/30/2173
786,962
 
7,870
 (d)(i)
China Aoyuan Group Ltd., Senior Secured Notes (5.500% PIK)
5.500%
9/30/31
202,150
 
2,780
 (c)(i)
Country Garden Holdings Co. Ltd., Senior Secured Notes
—
1/27/24
3,500,000
 
234,937
 *(i)(k)
Cushman & Wakefield US Borrower LLC, Senior Secured Notes
8.875%
9/1/31
1,000,000
 
1,092,678
 (a)(b)
Total Real Estate Management & Development
1,406,218
 
Total Real Estate
12,088,254
Utilities — 0.7%
Electric Utilities — 0.2%
Pampa Energia SA, Senior Notes
7.950%
9/10/31
1,210,000
 
1,230,267
 (a)
Independent Power and Renewable Electricity Producers — 0.5%
TransAlta Corp., Senior Notes
6.500%
3/15/40
4,000,000
 
4,242,724
 (b)
 
Total Utilities
5,472,991
Total Corporate Bonds & Notes (Cost — $502,570,682)
515,323,948
Collateralized Mortgage Obligations(l) — 25.6%
BANK, 2021-BN35 H
1.766%
6/15/64
9,451,000
 
3,296,533
 (a)(e)
BANK, 2021-BN35 K
1.766%
6/15/64
21,846,154
 
6,537,060
 (a)(e)
Benchmark Mortgage Trust, 2021-B27 F
2.250%
7/15/54
5,000,000
 
2,600,039
 (a)(e)
Benchmark Mortgage Trust, 2021-B27 G
2.250%
7/15/54
5,000,000
 
2,014,989
 (a)(e)
BSREP Commercial Mortgage Trust, 2021-DC HRR (1 mo. Term SOFR +
5.614%)
10.711%
8/15/38
17,687,987
 
9,435,115
 (a)(e)
BWAY Mortgage Trust, 2013-1515 F
4.058%
3/10/33
2,000,000
 
1,719,800
 (a)(b)(e)
BX Commercial Mortgage Trust, 2019-IMC G (1 mo. Term SOFR +
3.646%)
8.743%
4/15/34
4,000,000
 
3,811,386
 (a)(e)
CIM Trust, 2021-INV1 AXS, IO
0.190%
7/1/51
153,927,251
 
1,536,687
 (a)(e)
Citigroup Commercial Mortgage Trust, 2015-GC29 D
3.110%
4/10/48
3,439,000
 
3,151,088
 (a)(b)
Citigroup Commercial Mortgage Trust, 2015-P1 D
3.225%
9/15/48
2,000,000
 
1,717,744
 (a)(b)
Citigroup Commercial Mortgage Trust, 2015-P1 E
4.514%
9/15/48
4,250,000
 
3,269,909
 (a)(e)
CSMC Trust, 2021-ADV G (1 mo. Term SOFR + 6.364%)
11.461%
7/15/38
8,350,000
 
1,641,501
 (a)(e)
See Notes to Schedule of Investments.
6
Western Asset Diversified Income Fund 2024 Quarterly Report
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
Collateralized Mortgage Obligations(l) — continued
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured
Pass-Through Certificates, 2021-MN2 B1 (30 Day Average SOFR +
5.500%)
10.780%
7/25/41
2,500,000
 
 $2,106,379
 (a)(b)(e)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency
Credit Risk Debt Notes, 2020-DNA1 B2 (30 Day Average SOFR + 5.364%)
10.645%
1/25/50
2,225,000
 
2,462,164
 (a)(b)(e)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency
Credit Risk Debt Notes, 2020-DNA2 B2 (30 Day Average SOFR + 4.914%)
10.195%
2/25/50
7,250,000
 
7,818,769
 (a)(e)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency
Credit Risk Debt Notes, 2020-DNA6 B2 (30 Day Average SOFR + 5.650%)
10.930%
12/25/50
5,000,000
 
5,688,357
 (a)(e)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency
Credit Risk Debt Notes, 2021-DNA1 B2 (30 Day Average SOFR + 4.750%)
10.030%
1/25/51
9,482,500
 
10,205,000
 (a)(e)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency
Credit Risk Debt Notes, 2021-DNA2 B2 (30 Day Average SOFR + 6.000%)
11.280%
8/25/33
6,000,000
 
7,126,462
 (a)(e)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency
Credit Risk Debt Notes, 2021-DNA3 B2 (30 Day Average SOFR + 6.250%)
11.530%
10/25/33
5,000,000
 
5,991,351
 (a)(e)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency
Credit Risk Debt Notes, 2021-DNA5 B1 (30 Day Average SOFR + 3.050%)
8.330%
1/25/34
2,470,000
 
2,653,261
 (a)(b)(e)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency
Credit Risk Debt Notes, 2021-DNA5 B2 (30 Day Average SOFR + 5.500%)
10.780%
1/25/34
6,700,000
 
7,552,363
 (a)(e)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency
Credit Risk Debt Notes, 2021-DNA6 B2 (30 Day Average SOFR + 7.500%)
12.780%
10/25/41
6,590,000
 
7,107,245
 (a)(e)
Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk
Transfer Trust, 2018-3 BX
0.816%
8/25/57
9,425,886
 
3,437,734
 (a)(e)
Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk
Transfer Trust, 2022-1 M
4.500%
11/25/61
5,000,000
 
4,153,957
 (a)(e)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit
Risk Debt Notes, 2018-HRP1 B2 (30 Day Average SOFR + 11.864%)
17.145%
5/25/43
4,701,236
 
5,733,155
 (a)(e)
Federal National Mortgage Association (FNMA) — CAS, 2016-C04 1B
(30 Day Average SOFR + 10.364%)
15.645%
1/25/29
2,217,640
 
2,530,218
 (a)(b)(e)
Federal National Mortgage Association (FNMA) — CAS, 2019-R07 1B1
(30 Day Average SOFR + 3.514%)
8.795%
10/25/39
4,534,614
 
4,702,225
 (a)(e)
FREMF Mortgage Trust, 2021-F117 CS (30 Day Average SOFR + 6.400%)
11.747%
7/25/31
4,621,019
 
4,601,965
 (a)(e)
GS Mortgage Securities Corp., 2024-70P HRR
10.333%
3/10/41
17,680,000
 
18,094,182
 (a)(e)
GS Mortgage Securities Corp. Trust, 2018-LUAU G (1 mo. Term SOFR +
4.747%)
9.844%
11/15/32
5,000,000
 
4,899,690
 (a)(e)
GS Mortgage Securities Corp. Trust, 2021-ARDN H (1 mo. Term SOFR +
6.048%)
11.144%
11/15/26
5,000,000
 
4,948,799
 (a)(e)
GS Mortgage Securities Trust, 2015-GC30 D
3.384%
5/10/50
2,840,000
 
2,329,519
 (b)
JPMorgan Chase Commercial Mortgage Securities Trust, 2018-WPT GFX
5.542%
7/5/33
4,000,000
 
2,059,999
 (a)(e)
JPMorgan Chase Commercial Mortgage Securities Trust, 2021-NYMZ M
(1 mo. Term SOFR + 7.614%)
12.711%
6/15/26
10,000,000
 
6,496,920
 (a)(e)
KIND Trust, 2021-KIND F (1 mo. Term SOFR + 4.064%)
9.164%
8/15/38
5,951,129
 
5,708,619
 (a)(e)
MIRA Trust, 2023-MILE HRR
9.300%
6/10/38
13,750,000
 
14,034,708
 (a)
Morgan Stanley Capital I Trust, 2021-L6 F
2.250%
6/15/54
7,195,000
 
3,960,560
 (a)(e)
Multifamily CAS Trust, 2019-1 CE (30 Day Average SOFR + 8.864%)
14.145%
10/25/49
2,000,000
 
2,005,049
 (a)(e)
Multifamily CAS Trust, 2020-1 CE (30 Day Average SOFR + 7.614%)
12.895%
3/25/50
2,500,000
 
2,568,901
 (a)(e)
Natixis Commercial Mortgage Securities Trust, 2022-JERI G (1 mo. Term
SOFR + 7.458%)
12.554%
1/15/39
2,500,000
 
1,783,046
 (a)(e)
See Notes to Schedule of Investments.
7
Western Asset Diversified Income Fund 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
September 30, 2024
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
Collateralized Mortgage Obligations(l) — continued
Natixis Commercial Mortgage Securities Trust, 2022-RRI E (1 mo. Term
SOFR + 5.193%)
10.290%
3/15/35
3,750,000
 
 $3,748,591
 (a)(e)
New Residential Mortgage Loan Trust, 2017-2A B5
5.235%
3/25/57
2,819,937
 
2,523,491
 (a)(e)
Soho Trust, 2021-SOHO D
2.786%
8/10/38
7,000,000
 
2,575,227
 (a)(e)
UBS Commercial Mortgage Trust, 2018-NYCH F (1 mo. Term SOFR +
3.868%)
8.965%
2/15/32
6,000,000
 
5,708,584
 (a)(e)
 
Total Collateralized Mortgage Obligations (Cost — $229,036,733)
208,048,341
 
 
 

 
Face
Amount†/
Units
 
Asset-Backed Securities — 21.1%
AGL CLO Ltd., 2020-6A ER (3 mo. Term SOFR + 6.762%)
12.044%
7/20/34
6,990,000
 
7,014,870
 (a)(b)(e)
AGL CLO Ltd., 2021-11A E (3 mo. Term SOFR + 6.622%)
11.923%
4/15/34
2,650,000
 
2,658,208
 (a)(b)(e)
Apex Credit CLO Ltd., 2020-1A DRR (3 mo. Term SOFR + 4.320%)
9.643%
4/20/35
3,130,000
 
3,141,737
 (a)(e)
Apidos CLO Ltd., 2023-46A SUB
18.746%
10/24/36
3,500,000
 
2,909,261
 (a)(e)(m)
Ares CLO Ltd., 2015-2A ER (3 mo. Term SOFR + 7.112%)
12.397%
4/17/33
1,500,000
 
1,486,031
 (a)(b)(e)
BlueMountain CLO Ltd., 2020-29A ER (3 mo. Term SOFR + 7.122%)
12.406%
7/25/34
7,000,000
 
6,767,095
 (a)(b)(e)
BlueMountain Fuji US CLO Ltd., 2017-2A D (3 mo. Term SOFR + 6.412%)
11.694%
10/20/30
5,350,000
 
5,124,632
 (a)(b)(e)
CARLYLE US CLO Ltd., 2020-1A ER (3 mo. Term SOFR + 8.142%)
13.424%
7/20/34
5,000,000
 
4,687,371
 (a)(b)(e)
CarVal CLO Ltd., 2024-3A E (3 mo. Term SOFR + 6.350%)
10.921%
10/20/37
2,070,000
 
2,075,069
 (a)(e)
College Avenue Student Loans LLC, 2021-B R
—
6/25/52
17,241
 
5,166,278
 *(a)
Dryden Senior Loan Fund, 2016-43A ER3 (3 mo. Term SOFR + 6.662%)
11.944%
4/20/34
1,539,000
 
1,475,740
 (a)(e)
Dryden CLO Ltd., 2021-95A SUB
28.817%
8/20/34
6,870,000
 
3,425,372
 (a)(e)(m)
Elmwood CLO Ltd., 2019-2A SUB
24.133%
4/20/34
4,600,000
 
3,559,521
 (a)(e)(m)
Fortress Credit BSL Ltd., 2021-4A E (3 mo. Term SOFR + 7.392%)
12.693%
10/15/34
5,000,000
 
4,744,312
 (a)(b)(e)
Goldentree Loan Management US CLO Ltd., 2020-8A FR (3 mo. Term
SOFR + 8.312%)
13.594%
10/20/34
7,000,000
 
6,845,970
 (a)(b)(e)
Greenwood Park CLO Ltd., 2018-1A E (3 mo. Term SOFR + 5.212%)
10.513%
4/15/31
1,570,000
 
1,558,232
 (a)(b)(e)
Greywolf CLO Ltd., 2015-1A DR (3 mo. Term SOFR + 6.112%)
11.396%
1/27/31
6,250,000
 
6,166,205
 (a)(b)(e)
Greywolf CLO Ltd., 2018-1A D (3 mo. Term SOFR + 6.012%)
11.291%
4/26/31
3,000,000
 
3,015,044
 (a)(b)(e)
Hayfin US Ltd., 2021-14A E (3 mo. Term SOFR + 7.442%)
12.724%
7/20/34
7,000,000
 
7,064,439
 (a)(b)(e)
LCM Ltd., 33A E (3 mo. Term SOFR + 6.612%)
11.894%
7/20/34
3,000,000
 
2,603,624
 (a)(b)(e)
Lunar Structured Aircraft Portfolio Notes, 2021-1 C
5.682%
10/15/46
5,497,893
 
5,038,306
 (a)
MACH Cayman Ltd., 2019-1 B
4.335%
10/15/39
868,376
 
713,651
 (a)
Magnetite Ltd., 2020-26A ER (3 mo. Term SOFR + 6.212%)
11.496%
7/25/34
6,750,000
 
6,777,480
 (a)(b)(e)
MAPS Trust, 2021-1A C
5.437%
6/15/46
230,647
 
218,205
 (a)
Marathon CLO Ltd., 2019-1A C (3 mo. Term SOFR + 4.332%)
9.633%
4/15/32
4,625,000
 
4,609,826
 (a)(b)(e)
National Collegiate Class A-3L Commutation Trust, 2007-4VI O (1 mo.
USD LIBOR + 0.850%)
5.819%
3/29/38
27,730,208
 
3,198,458
 (a)(e)
Ocean Trails CLO, 2020-10A ER (3 mo. Term SOFR + 7.832%)
13.133%
10/15/34
3,750,000
 
3,690,871
 (a)(b)(e)
Park Avenue Institutional Advisers CLO Ltd., 2019-1A D (3 mo. Term
SOFR + 7.112%)
12.230%
5/15/32
6,950,000
 
6,674,690
 (a)(b)(e)
Renew, 2024-1A B
9.001%
11/20/59
742,075
 
748,015
 (a)
Renew, 2024-2A B
8.223%
11/20/60
1,200,000
 
1,202,760
 (a)
Riserva CLO Ltd., 2016-3A ERR (3 mo. Term SOFR + 6.762%)
12.041%
1/18/34
2,000,000
 
1,994,639
 (a)(b)(e)
Riserva CLO Ltd., 2016-3A FRR (3 mo. Term SOFR + 8.772%)
14.051%
1/18/34
2,500,000
 
2,363,328
 (a)(b)(e)
See Notes to Schedule of Investments.
8
Western Asset Diversified Income Fund 2024 Quarterly Report
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†/
Units
Value
Asset-Backed Securities — continued
RR Ltd., 2021-18A D (3 mo. Term SOFR + 6.512%)
11.813%
10/15/34
7,190,000
 
 $7,211,036
 (a)(b)(e)
Saratoga Investment Corp. CLO Ltd., 2013-1A (3 mo. Term SOFR +
10.262%)
14.879%
4/20/33
4,000,000
 
2,967,464
 (a)
SEB Funding LLC, 2024-1A A2
7.386%
4/30/54
2,030,000
 
2,096,524
 (a)
SMB Private Education Loan Trust, 2015-C R
13.667%
9/18/46
7,570
 
2,004,262
 (a)(m)
Sound Point CLO Ltd., 2020-1A ER (3 mo. Term SOFR + 7.122%)
12.404%
7/20/34
4,200,000
 
3,929,132
 (a)(b)(e)
Subway Funding LLC, 2024-1A A2I
6.028%
7/30/54
2,390,000
 
2,471,580
 (a)
Sunnova Hellios II Issuer LLC, 2018-1A B
7.710%
7/20/48
3,753,594
 
3,163,016
 (a)
Symphony CLO Ltd., 2016-18A ER (3 mo. Term SOFR + 7.332%)
12.615%
7/23/33
3,000,000
 
2,999,491
 (a)(e)
Symphony CLO Ltd., 2019-21A ER (3 mo. Term SOFR + 6.862%)
12.163%
7/15/32
2,800,000
 
2,782,880
 (a)(b)(e)
Symphony CLO Ltd., 2021-28A SUB
27.398%
10/23/50
6,045,000
 
3,747,900
 (a)(e)(m)
TCI-Symphony CLO Ltd., 2016-1A ER2 (3 mo. Term SOFR + 7.012%)
12.313%
10/13/32
3,500,000
 
3,481,774
 (a)(e)
Venture CLO Ltd., 2021-43A D (3 mo. Term SOFR + 3.732%)
9.033%
4/15/34
1,500,000
 
1,458,849
 (a)(e)
Voya CLO Ltd., 2018-2A E (3 mo. Term SOFR + 5.512%)
10.813%
7/15/31
6,750,000
 
6,388,692
 (a)(b)(e)
Voya CLO Ltd., 2021-1A E (3 mo. Term SOFR + 6.612%)
11.913%
7/15/34
2,250,000
 
2,263,356
 (a)(b)(e)
Whitebox CLO Ltd., 2020-2A ER (3 mo. Term SOFR + 7.362%)
12.645%
10/24/34
1,350,000
 
1,364,243
 (a)(b)(e)
Wind River CLO Ltd., 2021-4A E3 (3 mo. Term SOFR + 8.512%)
13.794%
1/20/35
3,000,000
 
2,843,167
 (a)(b)(e)
Wind River CLO Ltd., 2021-4A F (3 mo. Term SOFR + 6.522%)
11.804%
1/20/35
2,450,000
 
1,827,369
 (a)(e)
 
Total Asset-Backed Securities (Cost — $189,904,306)
171,719,975
 
 
 

 
Face
Amount†
 
Senior Loans — 16.4%
Communication Services — 1.8%
Entertainment — 0.6%
Allen Media LLC, Term Loan B (3 mo. Term SOFR + 5.650%)
10.254%
2/10/27
7,253,237
 
4,753,155
 (e)(n)(o)
Media — 1.2%
CB Poly US Holdings Inc., Initial Term Loan (3 mo. Term SOFR + 5.500%)
10.104%
5/18/29
4,900,000
 
4,792,813
 (e)(n)(o)
iHeartCommunications Inc., New Term Loan (1 mo. Term SOFR + 3.114%)
7.960%
5/1/26
6,000,000
 
5,215,950
 (e)(n)(o)
Total Media
10,008,763
 
Total Communication Services
14,761,918
Consumer Discretionary — 1.9%
Automobile Components — 1.2%
Autokiniton US Holdings Inc., 2024 Replacement Term Loan B (1 mo.
Term SOFR + 4.114%)
8.960%
4/6/28
3,870,750
 
3,874,679
 (e)(n)(o)
First Brands Group LLC, 2021 First Lien Term Loan (3 mo. Term SOFR +
5.262%)
10.514%
3/30/27
5,799,674
 
5,748,028
 (e)(n)(o)
Total Automobile Components
9,622,707
Diversified Consumer Services — 0.2%
Adtalem Global Education Inc., 2024 Second Repricing Term Loan (1 mo.
Term SOFR + 2.750%)
7.595%
8/12/28
1,455,821
 
1,458,784
 (e)(n)(o)
WW International Inc., Initial Term Loan (1 mo. Term SOFR + 3.614%)
8.460%
4/13/28
330,000
 
91,009
 (e)(n)(o)
Total Diversified Consumer Services
1,549,793
Specialty Retail — 0.5%
Empire Today LLC, Closing Date Term Loan (3 mo. Term SOFR + 5.262%)
10.514%
4/3/28
2,418,750
 
1,482,694
 (e)(n)(o)
See Notes to Schedule of Investments.
9
Western Asset Diversified Income Fund 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
September 30, 2024
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Specialty Retail — continued
Michaels Cos. Inc., Term Loan B (3 mo. Term SOFR + 4.512%)
9.115%
4/15/28
3,228,022
 
 $2,561,435
 (e)(n)(o)
Total Specialty Retail
4,044,129
 
Total Consumer Discretionary
15,216,629
Consumer Staples — 0.2%
Beverages — 0.2%
Triton Water Holdings Inc., First Lien Initial Term Loan (3 mo. Term SOFR
+ 3.512%)
8.115%
3/31/28
1,477,102
 
1,476,215
 (e)(n)(o)
Household Products — 0.0%††
Knight Health Holdings LLC, Term Loan B (1 mo. Term SOFR + 5.364%)
10.210%
12/23/28
972,500
 
559,596
 (e)(n)(o)
 
Total Consumer Staples
2,035,811
Financials — 2.8%
Financial Services — 1.5%
Boost Newco Borrower LLC, Term Loan B1 (3 mo. Term SOFR + 2.500%)
7.104%
1/31/31
3,000,000
 
3,004,995
 (e)(n)(o)
Deerfield Dakota Holding LLC, 2021 Replacement Term Loan (3 mo. Term
SOFR + 7.012%)
11.615%
4/7/28
2,000,000
 
1,965,630
 (e)(n)(o)
Greystone Select Holdings LLC, Term Loan B (3 mo. Term SOFR +
5.262%)
10.541%
6/16/28
3,359,568
 
3,351,169
 (e)(n)(o)
Nexus Buyer LLC, Refinancing Term Loan (1 mo. Term SOFR + 4.000%)
8.845%
7/31/31
3,938,144
 
3,910,754
 (e)(n)(o)
Total Financial Services
12,232,548
Insurance — 1.3%
Asurion LLC, New Term Loan B4 (1 mo. Term SOFR + 5.364%)
10.210%
1/20/29
5,000,000
 
4,639,450
 (e)(n)(o)
Asurion LLC, Second Lien Term Loan B3 (1 mo. Term SOFR + 5.364%)
10.210%
1/31/28
5,000,000
 
4,708,025
 (e)(n)(o)
Sedgwick Claims Management Services Inc., Term Loan B (3 mo. Term
SOFR + 3.000%)
8.252%
7/31/31
1,570,125
 
1,568,995
 (e)(n)(o)
Total Insurance
10,916,470
 
Total Financials
23,149,018
Health Care — 1.3%
Health Care Providers & Services — 0.5%
EyeCare Partners LLC, Term Loan B (3 mo. Term SOFR + 4.610%)
9.989%
11/30/28
1,042,187
 
756,888
 (e)(n)(o)
EyeCare Partners LLC, Term Loan C (3 mo. Term SOFR + 6.850%)
12.129%
11/30/28
403,795
 
80,759
 (e)(h)(n)(o)
Team Services Group LLC, Incremental Term Loan
—
12/20/27
3,000,000
 
2,977,500
 (p)
Team Services Group LLC, Senior Secured First Lien Term Loan
—
12/20/27
470,000
 
465,653
 (p)
Total Health Care Providers & Services
4,280,800
Health Care Technology — 0.5%
MPH Acquisition Holdings LLC, Initial Term Loan (3 mo. Term SOFR +
4.512%)
9.569%
9/1/28
4,974,359
 
3,773,051
 (e)(n)(o)
Pharmaceuticals — 0.3%
Gainwell Acquisition Corp., Term Loan B (3 mo. Term SOFR + 4.100%)
8.704%
10/1/27
2,992,228
 
2,855,708
 (e)(n)(o)
 
Total Health Care
10,909,559
Industrials — 3.1%
Air Freight & Logistics — 0.9%
WWEX Uni Topco Holdings LLC, Second Lien Initial Term Loan (3 mo.
Term SOFR + 7.262%)
11.865%
7/26/29
7,000,000
 
6,848,345
 (e)(n)(o)
Building Products — 0.5%
ACProducts Holdings Inc., Initial Term Loan (3 mo. Term SOFR + 4.512%)
9.115%
5/17/28
4,936,225
 
4,149,958
 (e)(n)(o)
See Notes to Schedule of Investments.
10
Western Asset Diversified Income Fund 2024 Quarterly Report
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Commercial Services & Supplies — 1.7%
DS Parent Inc., Term Loan B (3 mo. Term SOFR + 5.500%)
10.104%
1/31/31
4,987,500
 
 $4,864,383
 (e)(n)(o)
GEO Group Inc., Term Loan (1 mo. Term SOFR + 5.250%)
10.095%
4/4/29
5,190,972
 
5,284,410
 (e)(n)(o)
Neptune Bidco US Inc., Term Loan A (3 mo. Term SOFR + 4.850%)
10.154%
10/11/28
3,950,000
 
3,704,194
 (e)(n)(o)
Total Commercial Services & Supplies
13,852,987
 
Total Industrials
24,851,290
Information Technology — 4.7%
Communications Equipment — 0.6%
Global Tel Link Corp., Initial Term Loan (1 mo. Term SOFR + 7.500%)
12.345%
7/31/29
5,000,000
 
4,845,000
 (e)(n)(o)
IT Services — 0.3%
Redstone Holdco 2 LP, First Lien Initial Term Loan (3 mo. Term SOFR +
5.012%)
10.264%
4/27/28
3,240,726
 
2,493,836
 (e)(n)(o)
Software — 2.9%
CB Buyer Inc., Delayed Draw Term Loan
—
7/1/31
879,200
 
870,408
 (f)(h)(q)
CB Buyer Inc., Initial Term Loan (3 mo. Term SOFR + 5.250%)
9.854%
7/1/31
3,120,800
 
3,089,592
 (e)(f)(h)(n)(o)
Cloudera Inc., Second Lien Term Loan (1 mo. Term SOFR + 6.100%)
10.945%
10/8/29
2,120,000
 
2,006,940
 (e)(n)(o)
DCert Buyer Inc., Second Lien Initial Term Loan (1 mo. Term SOFR +
7.000%)
11.845%
2/19/29
5,000,000
 
4,342,875
 (e)(n)(o)
Magenta Security Holdings LLC, First Out Term Loan (3 mo. Term SOFR +
7.010%)
12.126%
7/27/28
377,438
 
358,763
 (e)(n)(o)
Magenta Security Holdings LLC, Second Out Term Loan (3 mo. Term
SOFR + 7.260%)
12.376%
7/27/28
478,088
 
335,140
 (e)(n)(o)
Magenta Security Holdings LLC, Third Out Term Loan (3 mo. Term SOFR +
6.510%)
11.626%
7/27/28
1,660,728
 
502,370
 (e)(n)(o)
Mitchell International Inc., Second Lien Term Loan (1 mo. Term SOFR +
5.250%)
10.095%
6/7/32
4,000,000
 
3,938,340
 (e)(n)(o)
Planview Parent Inc., 2024 First Lien Incremental Term Loan A (3 mo.
Term SOFR + 3.750%)
8.354%
12/17/27
4,142,164
 
4,149,972
 (e)(n)(o)
Planview Parent Inc., 2024 Second Lien Incremental Term Loan A (3 mo.
Term SOFR + 6.000%)
10.604%
12/18/28
4,000,000
 
3,931,660
 (e)(n)(o)
Total Software
23,526,060
Technology Hardware, Storage & Peripherals — 0.9%
Vericast Corp., 2024 Extended Term Loan (3 mo. Term SOFR + 7.750%)
12.354%
6/16/26
7,407,855
 
7,278,217
 (e)(n)(o)
 
Total Information Technology
38,143,113
Materials — 0.6%
Chemicals — 0.6%
Plastics Management LLC, First Lien Initial Term Loan (3 mo. Term SOFR
+ 5.100%)
9.704%
8/3/27
4,855,796
 
4,864,352
 (e)(n)(o)
 
Total Senior Loans (Cost — $141,911,625)
133,931,690
Sovereign Bonds — 6.4%
Angola — 0.4%
Angolan Government International Bond, Senior Notes
8.750%
4/14/32
3,500,000
 
3,146,426
 (a)(g)
Angolan Government International Bond, Senior Notes
9.125%
11/26/49
620,000
 
515,034
 (i)
Total Angola
3,661,460
Argentina — 1.3%
Ciudad Autonoma De Buenos Aires, Senior Notes
7.500%
6/1/27
5,100,000
 
5,121,496
 (a)
Ciudad Autonoma De Buenos Aires, Senior Notes
7.500%
6/1/27
2,000,000
 
2,008,430
 (i)
See Notes to Schedule of Investments.
11
Western Asset Diversified Income Fund 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
September 30, 2024
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Argentina — continued
Provincia de Cordoba, Senior Notes
6.875%
12/10/25
3,250,065
 
 $3,176,939
 (a)
Total Argentina
10,306,865
Bahamas — 0.1%
Bahamas Government International Bond, Senior Notes
8.950%
10/15/32
600,000
 
614,195
 (i)
Brazil — 0.4%
Brazil Letras do Tesouro Nacional
0.000%
1/1/26
1,209,000
 BRL
192,020
 
Brazil Notas do Tesouro Nacional Serie F, Notes
10.000%
1/1/31
21,052,000
 BRL
3,479,636
 
Total Brazil
3,671,656
Dominican Republic — 0.4%
Dominican Republic International Bond, Senior Notes
4.500%
1/30/30
430,000
 
412,170
 (i)
Dominican Republic International Bond, Senior Notes
4.875%
9/23/32
2,750,000
 
2,622,804
 (g)(i)
Total Dominican Republic
3,034,974
Ecuador — 0.4%
Ecuador Government International Bond, Senior Notes
0.000%
7/31/30
5,593,000
 
3,132,977
 (a)(g)
Egypt — 0.1%
Egypt Government International Bond, Senior Notes
7.053%
1/15/32
700,000
 
607,829
 (i)
El Salvador — 0.1%
El Salvador Government International Bond, Senior Notes
6.375%
1/18/27
180,000
 
173,010
 (i)
El Salvador Government International Bond, Senior Notes
9.250%
4/17/30
440,000
 
438,465
 (a)
Total El Salvador
611,475
Ethiopia — 0.0%††
Ethiopia International Bond, Senior Notes
6.625%
12/11/24
560,000
 
436,855
 *(i)(r)
Ghana — 0.1%
Ghana Government International Bond, Senior Notes
10.750%
10/14/30
970,000
 
669,888
 (i)
Ivory Coast — 0.4%
Ivory Coast Government International Bond, Senior Notes
7.625%
1/30/33
2,040,000
 
2,097,247
 (a)
Ivory Coast Government International Bond, Senior Notes
8.250%
1/30/37
1,000,000
 
1,030,442
 (a)
Total Ivory Coast
3,127,689
Jamaica — 0.1%
Jamaica Government International Bond, Senior Notes
9.625%
11/3/30
82,000,000
 JMD
555,951
 
Kenya — 0.4%
Republic of Kenya Government International Bond, Senior Notes
6.300%
1/23/34
3,200,000
 
2,625,264
 (a)(g)
Republic of Kenya Government International Bond, Senior Notes
6.300%
1/23/34
550,000
 
451,217
 (i)
Total Kenya
3,076,481
Mexico — 0.8%
Mexican Bonos, Bonds
5.750%
3/5/26
40,930,000
 MXN
1,973,694
 
Mexican Bonos, Senior Notes
8.500%
5/31/29
98,350,000
 MXN
4,876,873
 
Total Mexico
6,850,567
Mozambique — 0.0%††
Mozambique International Bond, Senior Notes
9.000%
9/15/31
460,000
 
399,461
 (i)
Nigeria — 0.1%
Nigeria Government International Bond, Senior Notes
7.143%
2/23/30
940,000
 
854,854
 (i)
Senegal — 0.1%
Senegal Government International Bond, Senior Notes
6.250%
5/23/33
550,000
 
474,911
 (i)
Sri Lanka — 0.0%††
Sri Lanka Government International Bond, Senior Notes
6.200%
5/11/27
570,000
 
320,305
 *(i)(r)
See Notes to Schedule of Investments.
12
Western Asset Diversified Income Fund 2024 Quarterly Report
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
 
Rate
Maturity
Date
Face
Amount†
Value
 
Supranational — 0.6%
International Bank for Reconstruction & Development, Senior Notes
8.050%
5/10/28
227,000,000
 UYU
 $5,278,946
 
Turkey — 0.4%
Turkiye Ihracat Kredi Bankasi AS, Senior Notes
5.750%
7/6/26
3,200,000
 
3,210,179
 (a)(g)
Ukraine — 0.1%
Ukraine Government International Bond, Senior Notes, Step bond
(0.000% to 2/1/27 then 3.000%)
0.000%
2/1/30
59,069
 
26,071
 (i)
Ukraine Government International Bond, Senior Notes, Step bond
(0.000% to 2/1/27 then 3.000%)
0.000%
2/1/34
220,732
 
74,980
 (i)
Ukraine Government International Bond, Senior Notes, Step bond
(1.750% to 8/1/25 then 4.500%)
1.750%
2/1/34
216,271
 
96,714
 (i)
Ukraine Government International Bond, Senior Notes, Step bond
(0.000% to 2/1/27 then 3.000%)
0.000%
2/1/35
186,534
 
81,923
 (i)
Ukraine Government International Bond, Senior Notes, Step bond
(1.750% to 8/1/25 then 4.500%)
1.750%
2/1/35
378,474
 
165,582
 (i)
Ukraine Government International Bond, Senior Notes, Step bond
(0.000% to 2/1/27 then 3.000%)
0.000%
2/1/36
155,445
 
67,444
 (i)
Ukraine Government International Bond, Senior Notes, Step bond
(1.750% to 8/1/25 then 4.500%)
1.750%
2/1/36
486,610
 
210,252
 (i)
Total Ukraine
722,966
Uzbekistan — 0.1%
Republic of Uzbekistan International Bond, Senior Notes
3.900%
10/19/31
590,000
 
505,381
 (i)
 
Total Sovereign Bonds (Cost — $53,825,974)
52,125,865
Convertible Bonds & Notes — 1.5%
Communication Services — 0.7%
Media — 0.7%
DISH Network Corp., Senior Notes
0.000%
12/15/25
4,500,000
 
3,920,899
 
DISH Network Corp., Senior Notes
3.375%
8/15/26
2,000,000
 
1,619,711
 
 
Total Communication Services
5,540,610
Financials — 0.6%
Mortgage Real Estate Investment Trusts (REITs) — 0.6%
Blackstone Mortgage Trust Inc., Senior Notes
5.500%
3/15/27
2,000,000
 
1,905,000
 
Two Harbors Investment Corp., Senior Notes
6.250%
1/15/26
3,010,000
 
2,942,275
 
 
Total Financials
4,847,275
Health Care — 0.2%
Health Care Technology — 0.2%
Multiplan Corp., Senior Notes (6.000% Cash or 7.000% PIK)
6.000%
10/15/27
2,500,000
 
1,562,500
 (a)(c)
 
Real Estate — 0.0%††
Real Estate Management & Development — 0.0%††
China Aoyuan Group Ltd., Senior Notes
0.000%
9/30/28
70,334
 
1,476
 (i)
 
Total Convertible Bonds & Notes (Cost — $10,828,846)
11,951,861
Non-U.S. Treasury Inflation Protected Securities — 0.1%
Uruguay — 0.1%
Uruguay Government International Bond, Senior Notes
3.875%
7/2/40
18,237,385
 UYU
455,993
 
Uruguay Government International Bond, Senior Notes
3.400%
5/16/45
3,777,102
 UYU
88,658
 
 
Total Non-U.S. Treasury Inflation Protected Securities (Cost — $566,430)
544,651
See Notes to Schedule of Investments.
13
Western Asset Diversified Income Fund 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
September 30, 2024
 Western Asset Diversified Income Fund
(Percentages shown based on Fund net assets)
Security
Counterparty
Expiration
Date
Contracts
Notional
Amount†
Value
Purchased Options — 0.0%††
OTC Purchased Options — 0.0%††
Credit default swaption to buy protection on Markit
CDX.NA.HY.43 Index, Put @ 104.500bps, 500.000bps
quarterly payments paid by the Fund, maturing on
12/20/29
Goldman Sachs
Group Inc.
12/18/24
6,320,000
6,320,000
 $28,454
 
Credit default swaption to buy protection on Markit
CDX.NA.IG.42 Index, Put @ 60.000bps, 100.000bps
quarterly payments paid by the Fund, maturing on
6/20/29
Goldman Sachs
Group Inc.
11/20/24
31,200,000
31,200,000
16,528
 
U.S. Dollar/Canadian Dollar, Put @ 1.370CAD
JPMorgan Chase &
Co.
10/30/24
6,552,000
6,552,000
95,461
 
U.S. Dollar/Chinese Yuan Renminbi, Call @
7.182CNY
Morgan Stanley &
Co. Inc.
11/25/24
5,122,000
5,122,000
8,166
 
U.S. Dollar/Euro, Call @ 1.093EUR
JPMorgan Chase &
Co.
10/11/24
7,150,000
7,150,000
2,787
 
 
Total Purchased Options (Cost — $209,282)
151,396
 
 
 
 
Shares
 
Common Stocks — 0.0%††
Real Estate — 0.0%††
Real Estate Management & Development — 0.0%††
China Aoyuan Group Ltd. (Cost — $3,949)
196,741
7,756
 *(f)
Total Investments before Short-Term Investments (Cost — $1,128,857,827)
1,093,805,483
 
 
Rate
 
 
 
Short-Term Investments — 8.9%
Western Asset Premier Institutional Government Reserves, Premium
Shares (Cost — $72,314,302)  
4.886%
72,314,302
 
72,314,302
 (s)(t)
Total Investments — 143.3% (Cost — $1,201,172,129)
1,166,119,785
Liabilities in Excess of Other Assets — (43.3)%
(352,309,174
)
Total Net Assets — 100.0%
$813,810,611
 
See Notes to Schedule of Investments.
14
Western Asset Diversified Income Fund 2024 Quarterly Report
 Western Asset Diversified Income Fund
†
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)
All or a portion of this security is pledged as collateral pursuant to the loan agreement.
(c)
Payment-in-kind security for which the issuer has the option at each interest payment date of making interest payments in cash or additional securities.
(d)
Security has no maturity date. The date shown represents the next call date.
(e)
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.
(f)
Security is fair valued in accordance with procedures approved by the Board of Trustees (Note 1).
(g)
All or a portion of this security is held by the counterparty as collateral for open reverse repurchase agreements.
(h)
Security is valued using significant unobservable inputs (Note 1).
(i)
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.
(j)
Securities traded on a when-issued or delayed delivery basis.
(k)
The maturity principal is currently in default as of September 30, 2024.
(l)
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.
(m)
Rate shown is the current yield based on income received over the trailing twelve months.
(n)
Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan.
(o)
Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower
prior to the disposition of a senior loan.
(p)
All or a portion of this loan has not settled as of September 30, 2024. Interest rates are not effective until settlement date. Interest rates shown, if any, are
for the settled portion of the loan.
(q)
All or a portion of this loan is unfunded as of September 30, 2024. The interest rate for fully unfunded term loans is to be determined. At September 30,
2024, the total principal amount and market value of unfunded commitments totaled $879,200 and $870,408, respectively.
(r)
The coupon payment on this security is currently in default as of September 30, 2024.
(s)
Rate shown is one-day yield as of the end of the reporting period.
(t)
In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Fund ownership of at least 5% of the outstanding
voting securities of an issuer, or a company which is under common ownership or control with the Fund. At September 30, 2024, the total market value of
investments in Affiliated Companies was $72,314,302 and the cost was $72,314,302 (Note 2).
 
Abbreviation(s) used in this schedule:
bps
—
basis point spread (100 basis points = 1.00%)
BRL
—
Brazilian Real
CAD
—
Canadian Dollar
CAS
—
Connecticut Avenue Securities
CLO
—
Collateralized Loan Obligation
CNY
—
Chinese Yuan Renminbi
EUR
—
Euro
GBP
—
British Pound
IO
—
Interest Only
JMD
—
Jamaican Dollar
LIBOR
—
London Interbank Offered Rate
MXN
—
Mexican Peso
PIK
—
Payment-In-Kind
REMIC
—
Real Estate Mortgage Investment Conduit
SOFR
—
Secured Overnight Financing Rate
USD
—
United States Dollar
UYU
—
Uruguayan Peso
See Notes to Schedule of Investments.
15
Western Asset Diversified Income Fund 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
September 30, 2024
 Western Asset Diversified Income Fund
At September 30, 2024, the Fund had the following open reverse repurchase agreements: 
Counterparty
Rate
Effective
Date
Maturity
Date
Face Amount
of Reverse
Repurchase
Agreements
Asset Class
of Collateral*
Collateral
Value**
Goldman Sachs & Co.
5.500%
9/20/2024
TBD ***
 $11,647,243
Corporate Bonds & Notes
Sovereign Bonds
 $2,031,905
14,632,045
 
$11,647,243
$16,663,950
 
*
Refer to the Schedule of Investments for positions held at the counterparty as collateral for reverse repurchase agreements.
**
Including accrued interest.
***
TBD — To Be Determined; These reverse repurchase agreements have no maturity dates because they are renewed daily and can be terminated by either
the Fund or the counterparty in accordance with the terms of the agreements. The rates for these agreements are variable. The rate disclosed is the rate as
of September 30, 2024.
At September 30, 2024, the Fund had the following written options contracts: 
 
OTC Written Options
Security
Counterparty
Expiration
Date
Strike
Price
Contracts
Notional
Amount
Value
Credit default swaption to sell
protection on Markit CDX.NA.IG.43
Index, Put, 100.000bps quarterly
payments received by the Fund,
maturing on 12/20/29
Goldman Sachs Group Inc.
12/18/24
65.000
bps
28,400,000
 $28,400,000
‡
 $(28,302
)
Credit default swaption to sell
protection on Markit CDX.NA.IG.42
Index, Put, 100.000bps quarterly
payments received by the Fund,
maturing on 6/20/29
Goldman Sachs Group Inc.
11/20/24
80.000
bps
62,400,000
62,400,000
‡
(13,128
)
Total OTC Written Options (Premiums received — $118,740)
$(41,430
)
 
‡
In the event an option is exercised and a credit event occurs as defined under the terms of the swap agreement, the notional amount is the maximum
potential amount that could be required to be paid as a seller of credit protection or received as a buyer of credit protection.
 
Abbreviation(s) used in this schedule:
bps
—
basis point spread (100 basis points = 1.00%)
At September 30, 2024, the Fund had the following open futures contracts:  
 
 
 
Number of
Contracts
 
Expiration
Date
 
Notional
Amount
 
Market
Value
 
Unrealized
Appreciation
(Depreciation)
Contracts to Buy:
3-Month SONIA
3
3/25
 $950,176
 $957,691
 $7,515
Euro-Bund
191
12/24
28,252,114
28,685,564
433,450
U.S. Treasury 10-Year Notes
850
12/24
97,043,153
97,139,063
95,910
U.S. Treasury Long-Term Bonds
165
12/24
20,580,491
20,490,938
(89,553)
U.S. Treasury Ultra 10-Year Notes
170
12/24
20,120,059
20,110,469
(9,590)
 
437,732
Contracts to Sell:
U.S. Treasury 2-Year Notes
437
12/24
90,601,893
91,001,837
(399,944)
U.S. Treasury 5-Year Notes
298
12/24
32,709,642
32,745,077
(35,435)
See Notes to Schedule of Investments.
16
Western Asset Diversified Income Fund 2024 Quarterly Report
 Western Asset Diversified Income Fund
 
Number of
Contracts
Expiration
Date
Notional
Amount
Market
Value
Unrealized
Appreciation
(Depreciation)
Contracts to Sell
continued
U.S. Treasury Ultra Long-Term Bonds
38
12/24
 $5,082,231
 $5,057,562
 $24,669
 
(410,710)
Net unrealized appreciation on open futures contracts
$27,022
 
Abbreviation(s) used in this table:
SONIA
—
Sterling Overnight Index Average
At September 30, 2024, the Fund had the following open forward foreign currency contracts: 
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation
(Depreciation)
BRL
6,860,000
USD
1,226,060
Citibank N.A.
10/2/24
 $32,867
USD
1,259,155
BRL
6,860,000
Citibank N.A.
10/2/24
228
BRL
54,459,518
USD
9,877,611
Goldman Sachs Group Inc.
10/2/24
116,638
BRL
61,319,518
USD
11,255,212
Goldman Sachs Group Inc.
10/2/24
(2,036)
USD
9,996,057
BRL
54,459,518
Goldman Sachs Group Inc.
10/2/24
1,808
USD
11,191,735
BRL
61,319,518
Goldman Sachs Group Inc.
10/2/24
(61,440)
EUR
2,091,000
USD
2,305,892
JPMorgan Chase & Co.
10/15/24
23,193
AUD
1,671,362
USD
1,135,635
Bank of America N.A.
10/18/24
20,207
EUR
170,000
USD
190,207
Bank of America N.A.
10/18/24
(825)
EUR
230,000
USD
257,413
Bank of America N.A.
10/18/24
(1,189)
EUR
1,040,000
USD
1,156,056
Bank of America N.A.
10/18/24
2,520
USD
733,467
EUR
660,000
Bank of America N.A.
10/18/24
(1,784)
USD
2,119,114
EUR
1,940,000
Bank of America N.A.
10/18/24
(42,076)
USD
11,626,078
EUR
10,687,600
Bank of America N.A.
10/18/24
(280,074)
CHF
850,000
USD
1,008,067
BNP Paribas SA
10/18/24
(1,580)
NOK
3,750,000
USD
339,782
BNP Paribas SA
10/18/24
15,639
NOK
7,090,000
USD
643,757
BNP Paribas SA
10/18/24
28,227
NOK
7,990,000
USD
725,610
BNP Paribas SA
10/18/24
31,675
NOK
8,320,000
USD
756,213
BNP Paribas SA
10/18/24
32,349
NOK
8,320,000
USD
755,364
BNP Paribas SA
10/18/24
33,199
USD
3,571,162
AUD
5,257,314
BNP Paribas SA
10/18/24
(64,569)
USD
1,414,899
CHF
1,210,000
BNP Paribas SA
10/18/24
(17,865)
USD
719,124
NOK
7,690,000
BNP Paribas SA
10/18/24
(9,727)
AUD
1,160,000
USD
779,048
Citibank N.A.
10/18/24
23,158
AUD
13,850,000
USD
9,068,269
Citibank N.A.
10/18/24
509,793
CAD
170,000
USD
123,700
Citibank N.A.
10/18/24
2,051
CAD
230,000
USD
167,164
Citibank N.A.
10/18/24
2,969
CAD
1,160,000
USD
842,443
Citibank N.A.
10/18/24
15,619
CAD
1,420,000
USD
1,033,440
Citibank N.A.
10/18/24
16,946
CAD
1,863,000
USD
1,372,255
Citibank N.A.
10/18/24
5,822
JPY
265,320,000
USD
1,857,111
Citibank N.A.
10/18/24
(6,209)
USD
46,632
AUD
68,900
Citibank N.A.
10/18/24
(1,017)
USD
479,344
AUD
710,000
Citibank N.A.
10/18/24
(11,662)
USD
511,485
AUD
760,000
Citibank N.A.
10/18/24
(14,098)
USD
517,599
AUD
770,000
Citibank N.A.
10/18/24
(14,899)
USD
1,574,540
AUD
2,320,000
Citibank N.A.
10/18/24
(29,872)
USD
786,924
CAD
1,070,000
Citibank N.A.
10/18/24
(4,564)
USD
787,045
CAD
1,070,000
Citibank N.A.
10/18/24
(4,443)
See Notes to Schedule of Investments.
17
Western Asset Diversified Income Fund 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
September 30, 2024
 Western Asset Diversified Income Fund
Currency
Purchased
Currency
Sold
Counterparty
Settlement
Date
Unrealized
Appreciation
(Depreciation)
USD
850,361
CAD
1,154,000
Citibank N.A.
10/18/24
 $(3,262)
USD
876,103
CAD
1,190,000
Citibank N.A.
10/18/24
(4,150)
USD
2,535,853
CAD
3,459,012
Citibank N.A.
10/18/24
(22,808)
USD
25,996
JPY
4,116,000
Citibank N.A.
10/18/24
(2,718)
CHF
630,000
USD
749,517
Goldman Sachs Group Inc.
10/18/24
(3,533)
CHF
1,200,000
USD
1,426,118
Goldman Sachs Group Inc.
10/18/24
(5,196)
CHF
1,290,000
USD
1,532,427
Goldman Sachs Group Inc.
10/18/24
(4,935)
GBP
3,194,000
USD
4,090,029
Goldman Sachs Group Inc.
10/18/24
180,155
NOK
2,182,474
USD
199,017
Goldman Sachs Group Inc.
10/18/24
7,835
NOK
3,310,000
USD
299,511
Goldman Sachs Group Inc.
10/18/24
14,207
NOK
3,310,000
USD
300,631
Goldman Sachs Group Inc.
10/18/24
13,088
NOK
8,320,000
USD
755,656
Goldman Sachs Group Inc.
10/18/24
32,907
USD
503,853
AUD
760,000
Goldman Sachs Group Inc.
10/18/24
(21,730)
USD
803,197
AUD
1,190,000
Goldman Sachs Group Inc.
10/18/24
(19,756)
USD
171,091
CHF
150,000
Goldman Sachs Group Inc.
10/18/24
(6,524)
USD
205,399
CHF
180,000
Goldman Sachs Group Inc.
10/18/24
(7,739)
USD
1,758,589
CHF
1,540,000
Goldman Sachs Group Inc.
10/18/24
(64,928)
USD
7,958,316
CHF
7,073,471
Goldman Sachs Group Inc.
10/18/24
(417,395)
USD
19,002,902
GBP
14,801,416
Goldman Sachs Group Inc.
10/18/24
(785,693)
USD
459,474
NOK
4,940,000
Goldman Sachs Group Inc.
10/18/24
(8,735)
USD
565,815
NOK
6,050,000
Goldman Sachs Group Inc.
10/18/24
(7,599)
USD
802,776
NOK
8,650,000
Goldman Sachs Group Inc.
10/18/24
(17,063)
USD
1,139,270
NOK
12,210,000
Goldman Sachs Group Inc.
10/18/24
(17,983)
USD
1,224,315
NOK
13,050,000
Goldman Sachs Group Inc.
10/18/24
(12,552)
JPY
318,060,000
USD
2,225,257
JPMorgan Chase & Co.
10/18/24
(6,436)
MXN
16,810,256
USD
866,857
JPMorgan Chase & Co.
10/18/24
(15,546)
MXN
150,989,816
USD
8,265,670
JPMorgan Chase & Co.
10/18/24
(619,191)
USD
2,224,989
CAD
3,020,000
JPMorgan Chase & Co.
10/18/24
(8,930)
USD
2,857,763
MXN
55,312,000
JPMorgan Chase & Co.
10/18/24
56,633
CAD
3,326,030
USD
2,407,785
JPMorgan Chase & Co.
10/31/24
53,299
USD
2,407,864
CAD
3,326,030
JPMorgan Chase & Co.
10/31/24
(53,221)
BRL
61,319,518
USD
11,151,801
Goldman Sachs Group Inc.
11/4/24
57,884
Net unrealized depreciation on open forward foreign currency contracts
$(1,376,636)
 
Abbreviation(s) used in this table:
AUD
—
Australian Dollar
BRL
—
Brazilian Real
CAD
—
Canadian Dollar
CHF
—
Swiss Franc
EUR
—
Euro
GBP
—
British Pound
JPY
—
Japanese Yen
MXN
—
Mexican Peso
NOK
—
Norwegian Krone
USD
—
United States Dollar
See Notes to Schedule of Investments.
18
Western Asset Diversified Income Fund 2024 Quarterly Report
 Western Asset Diversified Income Fund
At September 30, 2024, the Fund had the following open swap contracts:  
 
OTC INTEREST RATE SWAPS
Swap Counterparty
Notional
Amount*
Termination
Date
Payments
Made by
the Fund†
Payments
Received by
the Fund†
Market
Value
Upfront
Premiums
Paid
(Received)
Unrealized
Depreciation
Bank of America N.A.
 137,545,000BRL
1/2/26
BRL-CDI**
11.035%**
 $(291,346)
—
 $(291,346)
JPMorgan Chase & Co.
63,990,000BRL
1/2/29
BRL-CDI**
10.230%**
(717,243)
—
(717,243)
Total
$(1,008,589)
—
$(1,008,589)
 
 
CENTRALLY CLEARED INTEREST RATE SWAPS
 
Notional
Amount*
Termination
Date
Payments
Made by
the Fund†
Payments
Received by
the Fund†
Market
Value
Upfront
Premiums
Paid
(Received)
Unrealized
Appreciation
 
177,367,000MXN
6/30/34
28-Day MXN TIIE - Banxico
every 28 days
9.250%
every 28 days
 $322,208
—
 $322,208
 
 
CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — SELL PROTECTION1
Reference Entity
Notional
Amount2
Termination
Date
Implied
Credit
Spread at
September 30,
20243
Periodic
Payments
Received by
the Fund†
Market
Value
Upfront
Premiums
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
Ford Motor Co., 4.346%,
due 12/8/26
 $2,260,000
6/20/26
0.565%
5.000% quarterly
 $167,535
 $112,705
 $54,830
Ford Motor Co., 4.346%,
due 12/8/26
2,060,000
6/20/29
1.655%
5.000% quarterly
291,510
284,901
6,609
Lennar Corp., 4.750%, due
11/29/27
2,110,000
12/20/29
0.692%
1.000% quarterly
30,830
29,611
1,219
Nabors Industries Inc.,
5.750%, due 2/1/25
2,130,000
6/20/29
6.339%
1.000% quarterly
(422,398)
(334,162)
(88,236)
Total
$8,560,000
$67,477
$93,055
$(25,578)
 
 
CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES — BUY PROTECTION4
Reference Entity
Notional
Amount2
Termination
Date
Implied
Credit
Spread at
September 30,
20243
Periodic
Payments
Made by
the Fund†
Market
Value
Upfront
Premiums
Paid
(Received)
Unrealized
Appreciation
(Depreciation)
General Motors Co.,
4.200%, due 10/1/27
 $2,260,000
6/20/26
0.360%
5.000% quarterly
 $(175,561)
 $(151,595)
 $(23,966)
General Motors Co.,
4.200%, due 10/1/27
2,060,000
6/20/29
1.217%
5.000% quarterly
(333,956)
(330,742)
(3,214)
MDC Holdings Inc., 3.850%,
due 1/15/30
2,110,000
12/20/29
0.350%
1.000% quarterly
(65,662)
(60,113)
(5,549)
Transocean Inc., 8.000%,
due 2/1/27
2,130,000
6/20/29
4.884%
1.000% quarterly
319,409
238,434
80,975
Total
$8,560,000
$(255,770)
$(304,016)
$48,246
 
See Notes to Schedule of Investments.
19
Western Asset Diversified Income Fund 2024 Quarterly Report
Schedule of Investments (unaudited) (cont’d)
September 30, 2024
 Western Asset Diversified Income Fund
 
OTC TOTAL RETURN SWAPS
Swap
Counterparty
Notional
Amount
Termination
Date
Periodic
Payments
Made by
the Fund†
Periodic
Payments
Received by
the Fund‡
Market
Value
Upfront
Premiums
Paid
(Received)
Unrealized
Appreciation
JPMorgan Chase & Co.
 $3,967,000
11/1/24
Daily SOFR
Compound +
1.100% quarterly
JPEIFNTR
quarterly^
 $163,613
—
$163,613
 
1
If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to
the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities
comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the
recovery value of the referenced obligation or underlying securities comprising the referenced index.
2
The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event
occurs as defined under the terms of that particular swap agreement.
3
Implied credit spreads, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end, serve
as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied
credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter
into the agreement. Wider credit spreads 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. A credit spread identified as “Defaulted” indicates a credit event has occurred for
the referenced entity or obligation.
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.
‡
Periodic payments made/received by the Fund are based on the total return of the referenced entity.
^
Custom emerging markets debt basket is comprised of 37 bonds in the Sovereign Frontier sector.
*
Notional amount denominated in U.S. dollars, unless otherwise noted.
**
One time payment made at termination date.
Reference rate(s) and their value(s) as of period end used in this table: 
Reference Index
Reference
Rate
28-Day MXN TIIE - Banxico
10.740%
BRL-CDI
10.650%
Daily SOFR Compound
4.960%
 
Abbreviation(s) used in this table:
BRL
—
Brazilian Real
BRL-CDI
—
Brazilian Cetip InterBank Deposit Rate
JPEIFNTR
—
Western Asset Management Emerging Markets Frontier Custom Basket
MXN
—
Mexican Peso
SOFR
—
Secured Overnight Financing Rate
TIIE
—
Tasa de Intere’s Interbancaria de Equilibrio (Equilibrium Interbanking Interest Rate)
This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.
See Notes to Schedule of Investments.
20
Western Asset Diversified Income Fund 2024 Quarterly Report
Notes to Schedule of Investments (unaudited)
1. Organization and significant accounting policies
Western Asset Diversified Income Fund (the “Fund”) was organized in Maryland on July 27, 2020 and is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Board of Trustees has authorized the issuance of an unlimited number of common shares of beneficial interest, $0.001 par value per share (the “Common Shares”). The Fund’s primary investment objective is to seek high current income. As a secondary investment objective, the Fund will seek capital appreciation. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, across fixed income sectors and securities in seeking to deliver a well-diversified portfolio. The Fund expects to dissolve on or about June 24, 2033 (the “Dissolution Date”); provided that the Board of Trustees may, without shareholder approval, extend the Dissolution Date for up to two years. As of a date within the 6-18 months preceding the Dissolution Date, the Board of Trustees may cause the Fund to conduct a tender offer to all shareholders to purchase 100% of the then outstanding Common Shares of the Fund at a price equal to the NAV per Common Share on the expiration date of the tender offer (the “Eligible Tender Offer”). The Board of Trustees has established that the Fund must have at least $200 million of aggregate net assets immediately following the completion of an Eligible Tender Offer to ensure the continued viability of the Fund (the “Dissolution Threshold”). In an Eligible Tender Offer, the Fund will offer to purchase all Common Shares held by each Common Shareholder; provided that if the payment for properly tendered Common Shares would result in the Fund having aggregate net assets below the Dissolution Threshold, the Eligible Tender Offer will be canceled, no Common Shares will be repurchased and the Fund will dissolve as scheduled. If an Eligible Tender Offer is conducted and the payment for properly tendered Common Shares would result in the Fund having aggregate net assets greater than or equal to the Dissolution Threshold, all Common Shares properly tendered and not withdrawn will be purchased by the Fund pursuant to the terms of the Eligible Tender Offer. Following the completion of an Eligible Tender Offer, the Board may eliminate the Dissolution Date without shareholder approval and provide for the Fund’s perpetual existence. Upon its dissolution, it is anticipated that the Fund will have distributed substantially all of its net assets to shareholders, although securities for which no market exists or securities trading at depressed prices, if any, may be placed in a liquidating trust.
The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (“ASC 946”). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”), including, but not limited to, ASC 946.
(a) Investment valuation. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Trustees.  
Pursuant to policies adopted by the Board of Trustees, the Fund’s manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund’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 Fund’s pricing policies, and reporting to the Fund’s manager and the Board of Trustees. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.
21
Western Asset Diversified Income Fund 2024 Quarterly Report
Notes to Schedule of Investments (unaudited) (cont’d)
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 Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.
GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
•
Level 1 — unadjusted quoted prices in active markets for identical investments
•
Level 2 — other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used in valuing the Fund’s assets and liabilities carried at fair value:
 
ASSETS
Description
Quoted Prices
(Level 1)
Other Significant
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Long-Term Investments†:
Corporate Bonds & Notes:
Industrials
—
 $81,360,060
 $5,223,419
 $86,583,479
Other Corporate Bonds & Notes
—
428,740,469
—
428,740,469
Collateralized Mortgage Obligations
—
208,048,341
—
208,048,341
Asset-Backed Securities
—
171,719,975
—
171,719,975
Senior Loans:
Health Care
—
10,828,800
80,759
10,909,559
Information Technology
—
34,183,113
3,960,000
38,143,113
Other Senior Loans
—
84,879,018
—
84,879,018
Sovereign Bonds
—
52,125,865
—
52,125,865
Convertible Bonds & Notes
—
11,951,861
—
11,951,861
Non-U.S. Treasury Inflation Protected Securities
—
544,651
—
544,651
Purchased Options:
OTC Purchased Options
 $28,454
122,942
—
151,396
Common Stocks
—
7,756
—
7,756
Total Long-Term Investments
28,454
1,084,512,851
9,264,178
1,093,805,483
Short-Term Investments†
72,314,302
—
—
72,314,302
Total Investments
$72,342,756
$1,084,512,851
$9,264,178
$1,166,119,785
22
Western Asset Diversified Income Fund 2024 Quarterly Report
ASSETS (cont’d)
Description
Quoted Prices
(Level 1)
Other Significant
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Other Financial Instruments:
Futures Contracts††
 $561,544
—
—
 $561,544
Forward Foreign Currency Contracts††
—
 $1,330,916
—
1,330,916
Centrally Cleared Interest Rate Swaps††
—
322,208
—
322,208
Centrally Cleared Credit Default Swaps on Corporate Issues —
Sell Protection††
—
62,658
—
62,658
Centrally Cleared Credit Default Swaps on Corporate Issues —
Buy Protection††
—
80,975
—
80,975
OTC Total Return Swaps
—
163,613
—
163,613
Total Other Financial Instruments
$561,544
$1,960,370
—
$2,521,914
Total
$72,904,300
$1,086,473,221
$9,264,178
$1,168,641,699
LIABILITIES
Description
Quoted Prices
(Level 1)
Other Significant
Observable Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Total
Other Financial Instruments:
Written Options:
OTC Written Options
 $28,302
 $13,128
—
 $41,430
Futures Contracts††
534,522
—
—
534,522
Forward Foreign Currency Contracts††
—
2,707,552
—
2,707,552
OTC Interest Rate Swaps
—
1,008,589
—
1,008,589
Centrally Cleared Credit Default Swaps on Corporate Issues —
Sell Protection††
—
88,236
—
88,236
Centrally Cleared Credit Default Swaps on Corporate Issues —
Buy Protection††
—
32,729
—
32,729
Total
$562,824
$3,850,234
—
$4,413,058
 
†
See Schedule of Investments for additional detailed categorizations.
††
Reflects the unrealized appreciation (depreciation) of the instruments.
The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value: 
 
Investments in
Securities
Balance
as of
December 31, 2023
Accrued
premiums/
discounts
Realized
gain
(loss)
Change in
unrealized
appreciation
(depreciation)1
Purchases
Corporate Bonds &
Notes:
Energy
 $4,950,000
 $8,373
 $453,802
 $(48,758
)
 $80,273
Industrials
4,884,925
2,475
—
130,399
393,120
Collateralized
Mortgage
Obligations
8,499,714
541
123
(378
)
—
Senior Loans:
Health Care
—
—
—
(323,036
)
403,795
Information
Technology
—
731
—
(25,127
)
3,984,396
Materials
4,763,566
8,599
185
129,537
—
Common Stocks:
Consumer
Discretionary
528,125
—
1,624
(528,124
)
—
23
Western Asset Diversified Income Fund 2024 Quarterly Report
Notes to Schedule of Investments (unaudited) (cont’d)
Investments in
Securities
Balance
as of
December 31, 2023
Accrued
premiums/
discounts
Realized
gain
(loss)
Change in
unrealized
appreciation
(depreciation)1
Purchases
Convertible
Preferred Stocks:
Energy
 $8,856,703
—
 $1,097,352
 $3,141
—
Total
$32,483,033
$20,719
$1,553,086
$(662,346
)
$4,861,584

 
Investments in
Securities (cont’d)
Sales
Transfers
into
Level 3
Transfers
out of
Level 32
Balance
as of
September 30, 2024
Net change
in unrealized
appreciation
(depreciation) for
investments
in securities
still held at
September 30, 20241
Corporate Bonds &
Notes:
Energy
 $(5,443,690
)
—
—
—
—
Industrials
(187,500
)
—
—
 $5,223,419
 $130,399
Collateralized
Mortgage
Obligations
(8,500,000
)
—
—
—
—
Senior Loans:
Health Care
—
—
—
80,759
(323,036
)
Information
Technology
—
—
—
3,960,000
(25,127
)
Materials
(37,535
)
—
 $(4,864,352
)
—
—
Common Stocks:
Consumer
Discretionary
(1,625
)
—
—
—
—
Convertible
Preferred Stocks:
Energy
(9,957,196
)
—
—
—
—
Total
$(24,127,546
)
—
$(4,864,352
)
$9,264,178
$(217,764
)
 
1
Change in unrealized appreciation (depreciation) includes net unrealized appreciation (depreciation) resulting from changes in investment values during the
reporting period and the reversal of previously recorded unrealized appreciation (depreciation) when gains or losses are realized.
2
Transferred out of Level 3 as a result of the availability of a quoted price in an active market for an identical investment or the availability of other
significant observable inputs.
2. Transactions with affiliated company
As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended September 30, 2024. The following transactions were effected in such company for the period ended September 30, 2024.
 
 
Affiliate
Value at

December 31,
2023
Purchased
Sold
Cost
Shares
Proceeds
Shares
Western Asset Premier
Institutional Government
Reserves, Premium
Shares
 $42,910,231
 $296,334,025
296,334,025
 $266,929,954
266,929,954
24
Western Asset Diversified Income Fund 2024 Quarterly Report

 
(cont’d)
Realized
Gain (Loss)
Dividend
Income
Net Increase
(Decrease) in
Unrealized
Appreciation
(Depreciation)
Affiliate
Value at
September 30,
2024
Western Asset Premier
Institutional Government
Reserves, Premium Shares
—
 $1,300,284
—
 $72,314,302
25
Western Asset Diversified Income Fund 2024 Quarterly Report
Western Asset Diversifie... (NYSE:WDI)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Western Asset Diversifie... Charts.
Western Asset Diversifie... (NYSE:WDI)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Western Asset Diversifie... Charts.