WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| MUNICIPAL BONDS - 141.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alabama - 6.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alabama State Corrections Institution Finance Authority Revenue, Series A |
|
|
5.250 |
% |
|
|
7/1/52 |
|
|
$ |
2,600,000 |
|
|
$ |
2,754,599 |
|
| Black Belt Energy Gas District, AL, Gas Project Revenue Bonds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Project No 6, Series B |
|
|
4.000 |
% |
|
|
12/1/26 |
|
|
|
560,000 |
|
|
|
547,535 |
(a)(b) |
| Series D-1, Refunding |
|
|
5.500 |
% |
|
|
2/1/29 |
|
|
|
800,000 |
|
|
|
834,978 |
(a)(b)(c) |
| Hoover, AL, IDA Revenue, United States Steel Corp. Project, Series 2019 |
|
|
5.750 |
% |
|
|
10/1/49 |
|
|
|
700,000 |
|
|
|
706,741 |
(d) |
| Jefferson County, AL, Sewer Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Convertible CAB, Subordinated Lien, Warrants, Step bond, Series F, Refunding (0.000% to 10/1/23 then 7.900%) |
|
|
0.000 |
% |
|
|
10/1/50 |
|
|
|
11,580,000 |
|
|
|
12,123,699 |
|
| Senior Lien, Warrants, Series A, Refunding, AGM |
|
|
5.500 |
% |
|
|
10/1/53 |
|
|
|
1,400,000 |
|
|
|
1,417,944 |
|
| Subordinated Lien, Warrants, Series D, Refunding |
|
|
6.500 |
% |
|
|
10/1/53 |
|
|
|
6,900,000 |
|
|
|
7,252,497 |
|
| Southeast Alabama Gas Supply District, Gas Supply Revenue, Project No 2, Series A |
|
|
4.000 |
% |
|
|
6/1/24 |
|
|
|
5,690,000 |
|
|
|
5,665,690 |
(a)(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Alabama |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31,303,683 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alaska - 0.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alaska State Housing Finance Corp. Revenue, State Capital Project II, Series B |
|
|
5.000 |
% |
|
|
12/1/38 |
|
|
|
750,000 |
|
|
|
790,771 |
|
| Anchorage, AK, Port Revenue, Series A |
|
|
5.000 |
% |
|
|
12/1/50 |
|
|
|
1,000,000 |
|
|
|
981,662 |
(d) |
| Northern Tobacco Securitization Corp., AK, Tobacco Settlement Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Asset Backed Senior Bonds, Class 1, Series A, Refunding |
|
|
4.000 |
% |
|
|
6/1/50 |
|
|
|
500,000 |
|
|
|
442,142 |
|
| Asset Backed Senior Bonds, Series A, Class 1, Refunding |
|
|
4.000 |
% |
|
|
6/1/41 |
|
|
|
1,690,000 |
|
|
|
1,587,200 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Alaska |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,801,775 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arizona - 5.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arizona State IDA, Education Revenue, Basis School Project, Credit Enhanced, Series F, Refunding, SD Credit
Program |
|
|
5.000 |
% |
|
|
7/1/52 |
|
|
|
725,000 |
|
|
|
729,015 |
|
| Chandler, AZ, IDA Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Intel Corp. Project |
|
|
5.000 |
% |
|
|
6/3/24 |
|
|
|
4,120,000 |
|
|
|
4,135,879 |
(a)(b)(d) |
| Intel Corp. Project |
|
|
3.800 |
% |
|
|
6/15/28 |
|
|
|
1,750,000 |
|
|
|
1,747,932 |
(a)(b) |
| Intel Corp. Project |
|
|
4.100 |
% |
|
|
6/15/28 |
|
|
|
1,000,000 |
|
|
|
997,103 |
(a)(b)(d) |
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
1 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Arizona - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Navajo Nation, AZ, Revenue, Series A, Refunding |
|
|
5.500 |
% |
|
|
12/1/30 |
|
|
$ |
950,000 |
|
|
$ |
976,076 |
(e) |
| Queen Creek, AZ, Excise Tax & State Shared Revenue, Series A |
|
|
5.000 |
% |
|
|
8/1/42 |
|
|
|
750,000 |
|
|
|
790,397 |
|
| Salt Verde, AZ, Financial Corp., Natural Gas Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2007 |
|
|
5.250 |
% |
|
|
12/1/28 |
|
|
|
2,000,000 |
|
|
|
2,077,752 |
|
| Series 2007 |
|
|
5.000 |
% |
|
|
12/1/32 |
|
|
|
10,000,000 |
|
|
|
10,394,211 |
|
| Series 2007 |
|
|
5.000 |
% |
|
|
12/1/37 |
|
|
|
5,500,000 |
|
|
|
5,637,017 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Arizona |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,485,382 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arkansas - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arkansas State Development Finance Authority, Environmental Improvement Revenue, United States Steel Corporation
Project, Green Bonds |
|
|
5.700 |
% |
|
|
5/1/53 |
|
|
|
800,000 |
|
|
|
803,376 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| California - 18.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alameda, CA, Corridor Transportation Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Convertible CAB, Series C, Refunding, AGM |
|
|
5.000 |
% |
|
|
10/1/52 |
|
|
|
2,050,000 |
|
|
|
2,169,636 |
|
| Second Subordinated Lien, Series B, Refunding |
|
|
5.000 |
% |
|
|
10/1/34 |
|
|
|
1,750,000 |
|
|
|
1,791,665 |
|
| Bay Area Toll Authority, CA, Toll Bridge Revenue, San Francisco Bay Area, Series
B-1 (SIFMA Municipal Swap Index Yield + 1.100%) |
|
|
5.160 |
% |
|
|
4/1/24 |
|
|
|
5,500,000 |
|
|
|
5,502,440 |
(a)(b) |
| California State Community Choice Financing Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clean Energy Project, Green Bonds, Series A-1 |
|
|
4.000 |
% |
|
|
8/1/28 |
|
|
|
700,000 |
|
|
|
690,766 |
(a)(b) |
| Clean Energy Project, Green Bonds, Series B-1 |
|
|
5.000 |
% |
|
|
8/1/29 |
|
|
|
2,400,000 |
|
|
|
2,495,539 |
(a)(b) |
| California State Health Facilities Financing Authority Revenue, Lucile Salter Packard Children’s Hospital at
Stanford |
|
|
5.000 |
% |
|
|
11/15/56 |
|
|
|
500,000 |
|
|
|
507,510 |
|
| California State MFA Revenue, Senior Lien, LINXS APM Project, Series A |
|
|
5.000 |
% |
|
|
12/31/43 |
|
|
|
3,400,000 |
|
|
|
3,401,863 |
(d) |
| California State PCFA Water Furnishing Revenue, Poseidon Resources Desalination Project |
|
|
5.000 |
% |
|
|
11/21/45 |
|
|
|
12,500,000 |
|
|
|
12,204,151 |
(d)(e) |
| California State, GO, Various Purpose, Refunding |
|
|
4.000 |
% |
|
|
11/1/36 |
|
|
|
1,000,000 |
|
|
|
1,010,583 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
2 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| California - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| California Statewide CDA Revenue, Provident Group-Pomona Properties LLC, Series A |
|
|
5.750 |
% |
|
|
1/15/45 |
|
|
$ |
1,770,000 |
|
|
$ |
1,725,272 |
(e) |
| Chino Valley, CA, USD, GO, Series B |
|
|
5.000 |
% |
|
|
8/1/55 |
|
|
|
1,250,000 |
|
|
|
1,317,756 |
|
| Inland Valley, CA, Development Agency, Successor Agency Tax Allocation Revenue, Series A, Refunding |
|
|
5.000 |
% |
|
|
9/1/44 |
|
|
|
2,405,000 |
|
|
|
2,408,501 |
|
| Los Angeles, CA, Department of Airports Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Los Angeles International Airport, Subordinated, Series C, Refunding |
|
|
4.000 |
% |
|
|
5/15/36 |
|
|
|
800,000 |
|
|
|
796,266 |
(d) |
| Los Angeles International Airport, Subordinated, Series C, Refunding |
|
|
4.000 |
% |
|
|
5/15/37 |
|
|
|
500,000 |
|
|
|
496,512 |
(d) |
| Los Angeles International Airport, Subordinated, Series D |
|
|
5.000 |
% |
|
|
5/15/38 |
|
|
|
500,000 |
|
|
|
517,637 |
(d) |
| Los Angeles International Airport, Subordinated, Series F |
|
|
5.000 |
% |
|
|
5/15/27 |
|
|
|
5,565,000 |
|
|
|
5,854,508 |
(d) |
| Los Angeles International Airport, Subordinated, Series F |
|
|
4.000 |
% |
|
|
5/15/49 |
|
|
|
2,000,000 |
|
|
|
1,821,004 |
(d) |
| Los Angeles, CA, Department of Water & Power Waterworks Revenue, Series A |
|
|
5.000 |
% |
|
|
7/1/48 |
|
|
|
2,500,000 |
|
|
|
2,608,671 |
|
| Los Angeles, CA, Department of Water & Power, Power System Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
5.000 |
% |
|
|
7/1/42 |
|
|
|
4,000,000 |
|
|
|
4,165,854 |
|
| Series C |
|
|
5.000 |
% |
|
|
7/1/42 |
|
|
|
2,000,000 |
|
|
|
2,094,579 |
|
| Los Angeles, CA, Wastewater System Revenue, Green Bonds, Subordinated, Series A |
|
|
5.000 |
% |
|
|
6/1/48 |
|
|
|
1,500,000 |
|
|
|
1,584,351 |
|
| M-S-R Energy Authority, CA, Natural Gas
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
7.000 |
% |
|
|
11/1/34 |
|
|
|
3,430,000 |
|
|
|
4,186,473 |
|
| Series B |
|
|
6.500 |
% |
|
|
11/1/39 |
|
|
|
8,000,000 |
|
|
|
9,505,980 |
|
| River Islands, CA, Public Financing Authority, Special Tax Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Community Facilities District No 2003-1 |
|
|
5.500 |
% |
|
|
9/1/37 |
|
|
|
545,000 |
|
|
|
537,844 |
|
| Community Facilities District No 2003-1 |
|
|
5.750 |
% |
|
|
9/1/52 |
|
|
|
1,000,000 |
|
|
|
971,502 |
|
| Riverside County, CA, Transportation Commission Sales Tax Revenue, Series B, Refunding |
|
|
5.000 |
% |
|
|
6/1/37 |
|
|
|
1,900,000 |
|
|
|
2,024,190 |
|
| San Bernardino, CA, USD Revenue, COP, 2019 School Financing Project, AGM |
|
|
5.000 |
% |
|
|
10/1/36 |
|
|
|
1,000,000 |
|
|
|
1,077,314 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
3 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| California - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| San Diego County, CA, Regional Airport Authority Revenue, Series B |
|
|
5.000 |
% |
|
|
7/1/46 |
|
|
$ |
1,500,000 |
|
|
$ |
1,537,662 |
(d) |
| San Francisco, CA, City & County Airport Commission, International Airport Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second Series A, Refunding |
|
|
5.000 |
% |
|
|
5/1/47 |
|
|
|
9,135,000 |
|
|
|
9,208,045 |
(d) |
| SFO Fuel Company LLC, Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/47 |
|
|
|
1,500,000 |
|
|
|
1,533,115 |
(d) |
| San Mateo County, CA, Joint Powers Financing Authority, Lease Revenue, Capital Project, Series A |
|
|
5.000 |
% |
|
|
7/15/43 |
|
|
|
1,000,000 |
|
|
|
1,053,622 |
|
| Sanger, CA, USD Revenue, COP, Capital Projects, Refunding, AGM |
|
|
5.000 |
% |
|
|
6/1/49 |
|
|
|
1,000,000 |
|
|
|
1,019,585 |
|
| Tobacco Securitization Authority of Southern California Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Asset Backed Refunding, San Diego County Tobacco Asset Securitization Corporation, Class 1, Series A |
|
|
5.000 |
% |
|
|
6/1/39 |
|
|
|
500,000 |
|
|
|
525,878 |
|
| Asset Backed Refunding, San Diego County Tobacco Asset Securitization Corporation, Class 1, Series A |
|
|
5.000 |
% |
|
|
6/1/48 |
|
|
|
500,000 |
|
|
|
516,449 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total California |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
88,862,723 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Colorado - 6.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Base Village Metropolitan District No 2, CO, GO, Series A, Refunding |
|
|
5.750 |
% |
|
|
12/1/46 |
|
|
|
500,000 |
|
|
|
500,285 |
|
| Colorado State Educational & Cultural Facilities Authority Revenue, University of Denver Project, Series
A |
|
|
5.000 |
% |
|
|
3/1/47 |
|
|
|
1,600,000 |
|
|
|
1,648,715 |
|
| Colorado State Health Facilities Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commonspirit Health Initiatives, Series B-2 |
|
|
5.000 |
% |
|
|
8/1/26 |
|
|
|
1,000,000 |
|
|
|
1,024,112 |
(a)(b) |
| Commonspirit Health Project, Series A-2 |
|
|
4.000 |
% |
|
|
8/1/49 |
|
|
|
1,900,000 |
|
|
|
1,646,655 |
|
| Colorado State High Performance Transportation Enterprise Revenue, C-470
Express Lanes |
|
|
5.000 |
% |
|
|
12/31/51 |
|
|
|
600,000 |
|
|
|
591,903 |
|
| Denver, CO, Airport System Revenue, Series C |
|
|
6.125 |
% |
|
|
11/15/25 |
|
|
|
10,945,000 |
|
|
|
11,108,180 |
(d)(f) |
| Public Authority for Colorado Energy, Natural Gas Purchase Revenue |
|
|
6.500 |
% |
|
|
11/15/38 |
|
|
|
12,200,000 |
|
|
|
14,309,351 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Colorado |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,829,201 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
4 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Connecticut - 1.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Connecticut State Special Tax Revenue, Transportation Infrastructure, Series A |
|
|
5.000 |
% |
|
|
1/1/37 |
|
|
$ |
1,500,000 |
|
|
$ |
1,584,225 |
|
| Connecticut State, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
5.000 |
% |
|
|
4/15/35 |
|
|
|
1,650,000 |
|
|
|
1,792,656 |
|
| Series E |
|
|
5.000 |
% |
|
|
10/15/34 |
|
|
|
930,000 |
|
|
|
970,965 |
|
| Harbor Point, CT, Infrastructure Improvement District, Special Obligation Revenue, Harbor Point Project Ltd.,
Refunding |
|
|
5.000 |
% |
|
|
4/1/39 |
|
|
|
900,000 |
|
|
|
901,814 |
(e) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Connecticut |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,249,660 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| District of Columbia - 0.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| District of Columbia Revenue, KIPP DC Project, Series B, Refunding |
|
|
5.000 |
% |
|
|
7/1/48 |
|
|
|
2,800,000 |
|
|
|
2,760,696 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Florida - 6.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Broward County, FL, Airport System Revenue, Series 2017 |
|
|
5.000 |
% |
|
|
10/1/47 |
|
|
|
1,250,000 |
|
|
|
1,260,150 |
(d) |
| Broward County, FL, Port Facilities Revenue, Series 2022 |
|
|
5.000 |
% |
|
|
9/1/37 |
|
|
|
400,000 |
|
|
|
424,156 |
(d) |
| Florida State Development Finance Corp., Educational Facilities Revenue, Renaissance Charter School Inc. Projects,
Series A |
|
|
6.125 |
% |
|
|
6/15/46 |
|
|
|
555,000 |
|
|
|
552,575 |
(e) |
| Florida State Insurance Assistance Interlocal Agency Inc. Revenue,
Series A-1 |
|
|
5.000 |
% |
|
|
9/1/26 |
|
|
|
4,550,000 |
|
|
|
4,702,258 |
|
| Florida State Mid-Bay Bridge Authority, Series A, Refunding |
|
|
5.000 |
% |
|
|
10/1/30 |
|
|
|
2,410,000 |
|
|
|
2,449,882 |
|
| Fort Pierce, FL, Utilities Authority Revenue, Series A, Refunding, AGM |
|
|
4.000 |
% |
|
|
10/1/52 |
|
|
|
700,000 |
|
|
|
644,739 |
|
| Greater Orlando, FL, Aviation Authority, Airport Facilities Revenue, Priority Subordinated, Series A |
|
|
5.000 |
% |
|
|
10/1/47 |
|
|
|
1,500,000 |
|
|
|
1,512,181 |
(d) |
| Hillsborough County, FL, Aviation Authority Revenue, Tampa International Airport, Series E |
|
|
5.000 |
% |
|
|
10/1/43 |
|
|
|
1,000,000 |
|
|
|
1,022,626 |
(d) |
| Miami-Dade County, FL, Aviation Revenue, Series A, Refunding |
|
|
5.000 |
% |
|
|
10/1/49 |
|
|
|
3,000,000 |
|
|
|
3,047,466 |
(d) |
| Miami-Dade County, FL, Expressway Authority, Series A |
|
|
5.000 |
% |
|
|
7/1/40 |
|
|
|
9,000,000 |
|
|
|
9,001,974 |
|
| Miami-Dade County, FL, Seaport Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Bonds, Series A, Refunding |
|
|
5.000 |
% |
|
|
10/1/47 |
|
|
|
2,000,000 |
|
|
|
2,033,609 |
(d) |
| Senior Bonds, Series A, Refunding |
|
|
5.250 |
% |
|
|
10/1/52 |
|
|
|
1,500,000 |
|
|
|
1,541,488 |
(d) |
| Orange County, FL, Health Facilities Authority Revenue, Orlando Health Inc., Series A |
|
|
5.000 |
% |
|
|
10/1/53 |
|
|
|
1,000,000 |
|
|
|
1,024,398 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
5 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Florida - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Palm Beach County, FL, Health Facilities Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Acts Retirement-Life Communities |
|
|
5.000 |
% |
|
|
11/15/45 |
|
|
$ |
750,000 |
|
|
$ |
710,456 |
|
| Jupiter Medical Center Project, Series A |
|
|
5.000 |
% |
|
|
11/1/52 |
|
|
|
2,200,000 |
|
|
|
2,078,253 |
|
| Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion, Refunding |
|
|
4.000 |
% |
|
|
6/1/41 |
|
|
|
500,000 |
|
|
|
390,775 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Florida |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32,396,986 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Georgia - 1.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cobb County, GA, Kennestone Hospital Authority Revenue, Wellstar Health System, Inc. Project, Series A |
|
|
5.000 |
% |
|
|
4/1/50 |
|
|
|
1,000,000 |
|
|
|
1,013,065 |
|
| Fulton County, GA, Development Authority Revenue, Georgia Institute of Technology |
|
|
5.000 |
% |
|
|
6/15/44 |
|
|
|
1,000,000 |
|
|
|
1,054,497 |
|
| Georgia State Municipal Electric Authority, Power Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Plant Vogtle Units 3&4, Project M, Series A |
|
|
5.250 |
% |
|
|
7/1/64 |
|
|
|
900,000 |
|
|
|
930,746 |
|
| Plant Vogtle Units 3&4, Project P, Series A |
|
|
5.000 |
% |
|
|
1/1/56 |
|
|
|
1,000,000 |
|
|
|
999,868 |
|
| Plant Vogtle Units 3&4, Project P, Series A |
|
|
5.500 |
% |
|
|
7/1/64 |
|
|
|
550,000 |
|
|
|
570,234 |
|
| Project One, Series A |
|
|
5.000 |
% |
|
|
1/1/50 |
|
|
|
1,000,000 |
|
|
|
1,023,841 |
|
| Main Street Natural Gas Inc., GA, Gas Project Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
5.000 |
% |
|
|
5/15/43 |
|
|
|
800,000 |
|
|
|
804,453 |
|
| Series C |
|
|
5.000 |
% |
|
|
9/1/30 |
|
|
|
1,250,000 |
|
|
|
1,298,348 |
(a)(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Georgia |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,695,052 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Guam - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Guam Government, Business Privilege Tax Revenue, Series F, Refunding |
|
|
4.000 |
% |
|
|
1/1/36 |
|
|
|
970,000 |
|
|
|
911,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Idaho - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Idaho State Health Facilities Authority Revenue, Trinity Health Credit Group, Series A |
|
|
5.000 |
% |
|
|
12/1/47 |
|
|
|
1,100,000 |
|
|
|
1,116,993 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Illinois - 18.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Chicago, IL, Board of Education, Dedicated Capital Improvement, Special Tax Revenue, Series 2018 |
|
|
5.000 |
% |
|
|
4/1/42 |
|
|
|
1,500,000 |
|
|
|
1,516,863 |
|
| Chicago, IL, Board of Education, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dedicated, Series G, Refunding |
|
|
5.000 |
% |
|
|
12/1/34 |
|
|
|
100,000 |
|
|
|
101,897 |
|
| Dedicated, Series G, Refunding |
|
|
5.000 |
% |
|
|
12/1/44 |
|
|
|
420,000 |
|
|
|
410,338 |
|
| Dedicated, Series H |
|
|
5.000 |
% |
|
|
12/1/36 |
|
|
|
500,000 |
|
|
|
504,015 |
|
| Dedicated, Series H |
|
|
5.000 |
% |
|
|
12/1/46 |
|
|
|
4,150,000 |
|
|
|
4,017,654 |
|
| Series D |
|
|
5.000 |
% |
|
|
12/1/46 |
|
|
|
6,435,000 |
|
|
|
6,270,779 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
6 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Illinois - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Chicago, IL, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
5.000 |
% |
|
|
1/1/44 |
|
|
$ |
1,000,000 |
|
|
$ |
1,010,201 |
|
| Series A, Refunding |
|
|
5.625 |
% |
|
|
1/1/29 |
|
|
|
2,000,000 |
|
|
|
2,114,962 |
|
| Series A, Refunding |
|
|
6.000 |
% |
|
|
1/1/38 |
|
|
|
1,500,000 |
|
|
|
1,581,544 |
|
| Series C, Refunding |
|
|
5.000 |
% |
|
|
1/1/25 |
|
|
|
3,000,000 |
|
|
|
3,037,106 |
|
| Chicago, IL, O’Hare International Airport Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General Senior Lien, Series B, Refunding |
|
|
5.000 |
% |
|
|
1/1/41 |
|
|
|
1,000,000 |
|
|
|
1,015,292 |
|
| General Senior Lien, Series C, Refunding |
|
|
5.000 |
% |
|
|
1/1/44 |
|
|
|
2,500,000 |
|
|
|
2,564,372 |
(d) |
| Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/31 |
|
|
|
1,000,000 |
|
|
|
1,008,040 |
(d) |
| Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/35 |
|
|
|
7,000,000 |
|
|
|
7,042,129 |
(d) |
| TrIPS Obligated Group |
|
|
5.000 |
% |
|
|
7/1/48 |
|
|
|
700,000 |
|
|
|
673,025 |
(d) |
| Chicago, IL, Transit Authority, Sales Tax Receipts Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second Lien |
|
|
5.000 |
% |
|
|
12/1/51 |
|
|
|
1,000,000 |
|
|
|
1,006,201 |
|
| Second Lien, Series A, Refunding |
|
|
5.000 |
% |
|
|
12/1/45 |
|
|
|
500,000 |
|
|
|
515,835 |
|
| Second Lien, Series A, Refunding |
|
|
4.000 |
% |
|
|
12/1/55 |
|
|
|
1,300,000 |
|
|
|
1,135,905 |
|
| Chicago, IL, Wastewater Transmission Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second Lien |
|
|
5.000 |
% |
|
|
1/1/44 |
|
|
|
1,000,000 |
|
|
|
982,054 |
|
| Second Lien, Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/47 |
|
|
|
2,300,000 |
|
|
|
2,321,469 |
|
| Second Lien, Series B, Refunding |
|
|
5.000 |
% |
|
|
1/1/38 |
|
|
|
750,000 |
|
|
|
760,874 |
|
| Chicago, IL, Waterworks Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second Lien, Series 2017, Refunding |
|
|
5.000 |
% |
|
|
11/1/29 |
|
|
|
1,800,000 |
|
|
|
1,899,530 |
|
| Second Lien, Series 2017-2, Refunding, AGM |
|
|
5.000 |
% |
|
|
11/1/33 |
|
|
|
1,290,000 |
|
|
|
1,357,055 |
|
| Second Lien, Series 2017-2, Refunding, AGM |
|
|
5.000 |
% |
|
|
11/1/37 |
|
|
|
3,610,000 |
|
|
|
3,736,987 |
|
| Second Lien, Series 2017-2, Refunding, AGM |
|
|
5.000 |
% |
|
|
11/1/38 |
|
|
|
2,000,000 |
|
|
|
2,062,164 |
|
| Cook County, IL, Sales Tax Revenue, Series A, Refunding |
|
|
4.000 |
% |
|
|
11/15/41 |
|
|
|
1,750,000 |
|
|
|
1,690,285 |
|
| Illinois State Finance Authority Revenue, Northshore University Healthsystem, Series A, Refunding |
|
|
4.000 |
% |
|
|
8/15/40 |
|
|
|
1,900,000 |
|
|
|
1,848,631 |
|
| Illinois State Finance Authority, Student Housing & Academic Facilities Revenue, CHF Chicago LLC, University
of Illinois Chicago Project |
|
|
5.000 |
% |
|
|
2/15/50 |
|
|
|
500,000 |
|
|
|
466,672 |
|
| Illinois State Sports Facilities Authority Revenue, Sport Facilities Project, Series 2019, Refunding, BAM |
|
|
5.000 |
% |
|
|
6/15/28 |
|
|
|
750,000 |
|
|
|
773,838 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
7 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Illinois - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Illinois State Toll Highway Authority Revenue, Series A |
|
|
4.000 |
% |
|
|
1/1/46 |
|
|
$ |
4,000,000 |
|
|
$ |
3,749,557 |
|
| Illinois State, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2016 |
|
|
5.000 |
% |
|
|
1/1/33 |
|
|
|
1,500,000 |
|
|
|
1,529,018 |
|
| Series 2016 |
|
|
5.000 |
% |
|
|
11/1/33 |
|
|
|
2,350,000 |
|
|
|
2,407,106 |
|
| Series 2016, Refunding |
|
|
5.000 |
% |
|
|
2/1/29 |
|
|
|
1,660,000 |
|
|
|
1,729,955 |
|
| Series A |
|
|
5.000 |
% |
|
|
3/1/34 |
|
|
|
2,000,000 |
|
|
|
2,148,912 |
|
| Series A |
|
|
5.000 |
% |
|
|
5/1/36 |
|
|
|
690,000 |
|
|
|
715,695 |
|
| Series A |
|
|
5.000 |
% |
|
|
5/1/39 |
|
|
|
2,000,000 |
|
|
|
2,047,188 |
|
| Series A |
|
|
5.000 |
% |
|
|
3/1/46 |
|
|
|
1,750,000 |
|
|
|
1,796,433 |
|
| Series A, Refunding |
|
|
5.000 |
% |
|
|
10/1/29 |
|
|
|
3,795,000 |
|
|
|
4,040,124 |
|
| Series A, Refunding |
|
|
5.000 |
% |
|
|
10/1/30 |
|
|
|
500,000 |
|
|
|
531,966 |
|
| Series D |
|
|
5.000 |
% |
|
|
11/1/27 |
|
|
|
2,000,000 |
|
|
|
2,105,454 |
|
| Series D |
|
|
5.000 |
% |
|
|
11/1/28 |
|
|
|
750,000 |
|
|
|
788,445 |
|
| Metropolitan Pier & Exposition Authority, IL, Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| McCormick Place Expansion Project, Series A, Refunding |
|
|
4.000 |
% |
|
|
12/15/42 |
|
|
|
2,750,000 |
|
|
|
2,527,225 |
|
| McCormick Place Expansion Project, Series A, Refunding |
|
|
4.000 |
% |
|
|
12/15/47 |
|
|
|
1,500,000 |
|
|
|
1,311,932 |
|
| McCormick Place Expansion Project, Series A, Refunding |
|
|
5.000 |
% |
|
|
6/15/50 |
|
|
|
7,150,000 |
|
|
|
7,171,773 |
|
| Regional Transportation Authority, IL, GO, Series A, Refunding, NATL |
|
|
6.000 |
% |
|
|
7/1/29 |
|
|
|
4,450,000 |
|
|
|
4,941,610 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Illinois |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
92,968,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Indiana - 1.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Indiana State Finance Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| BHI Senior Living Inc., Series A, Refunding |
|
|
4.000 |
% |
|
|
11/15/41 |
|
|
|
2,250,000 |
|
|
|
1,840,102 |
|
| Marion General Hospital, Series A |
|
|
4.000 |
% |
|
|
7/1/45 |
|
|
|
900,000 |
|
|
|
802,090 |
|
| Midwestern Disaster Relief, Ohio Valley Electric Corp. Project, Series A |
|
|
4.250 |
% |
|
|
11/1/30 |
|
|
|
900,000 |
|
|
|
898,563 |
|
| Indianapolis, IN, Local Public Improvement Bond Bank, Courthouse and Jail Project, Series A |
|
|
4.000 |
% |
|
|
2/1/44 |
|
|
|
2,000,000 |
|
|
|
1,942,518 |
|
| Valparaiso, IN, Exempt Facilities Revenue, Pratt Paper LLC Project |
|
|
7.000 |
% |
|
|
1/1/44 |
|
|
|
1,000,000 |
|
|
|
1,009,450 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Indiana |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,492,723 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
8 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Iowa - 1.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Iowa State Finance Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Midwestern Disaster Area, Iowa Fertilizer Co. Project, Refunding |
|
|
5.000 |
% |
|
|
12/1/42 |
|
|
$ |
3,400,000 |
|
|
$ |
3,419,692 |
(a)(b) |
| Midwestern Disaster Area, Iowa Fertilizer Co. Project, Refunding |
|
|
5.000 |
% |
|
|
12/1/50 |
|
|
|
2,000,000 |
|
|
|
1,979,291 |
|
| Iowa State Tobacco Settlement Authority Revenue, Asset Backed Senior Bonds, Class 1, Series A-2, Refunding |
|
|
4.000 |
% |
|
|
6/1/49 |
|
|
|
550,000 |
|
|
|
495,102 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Iowa |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,894,085 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Kentucky - 2.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Kentucky State Economic Development Finance Authority Revenue, Louisville Arena, Louisville Arena Authority Inc.,
Refunding, AGM |
|
|
5.000 |
% |
|
|
12/1/45 |
|
|
|
1,000,000 |
|
|
|
1,028,651 |
|
| Kentucky State PEA, Gas Supply Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
4.000 |
% |
|
|
6/1/26 |
|
|
|
5,000,000 |
|
|
|
4,957,346 |
(a)(b) |
| Series C |
|
|
4.000 |
% |
|
|
6/1/25 |
|
|
|
5,800,000 |
|
|
|
5,803,887 |
(a)(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Kentucky |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,789,884 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Louisiana - 1.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Port New Orleans, LA, Board of Commissioners Revenue, Series B, Refunding, AGM |
|
|
5.000 |
% |
|
|
4/1/43 |
|
|
|
2,000,000 |
|
|
|
2,021,022 |
(d) |
| St. John the Baptist Parish, LA, State Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Marathon Oil Corp. Project, Series A-3, Refunding |
|
|
2.200 |
% |
|
|
7/1/26 |
|
|
|
1,750,000 |
|
|
|
1,648,813 |
(a)(b) |
| Marathon Oil Corp. Project, Series B-2, Refunding |
|
|
2.375 |
% |
|
|
7/1/26 |
|
|
|
1,300,000 |
|
|
|
1,230,806 |
(a)(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Louisiana |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,900,641 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maryland - 0.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maryland EDC, Senior Student Housing Revenue, Morgan State University Project |
|
|
5.000 |
% |
|
|
7/1/50 |
|
|
|
1,150,000 |
|
|
|
1,169,862 |
|
| Maryland State Stadium Authority, Built to Learn Revenue, Series 2021 |
|
|
4.000 |
% |
|
|
6/1/46 |
|
|
|
1,495,000 |
|
|
|
1,433,830 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Maryland |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,603,692 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Massachusetts - 2.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Massachusetts State DFA Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Boston Medical Center, Sustainability Bonds, Series G, Refunding |
|
|
5.250 |
% |
|
|
7/1/52 |
|
|
|
1,300,000 |
|
|
|
1,331,216 |
|
| Broad Institute Inc., Refunding |
|
|
5.000 |
% |
|
|
4/1/36 |
|
|
|
1,000,000 |
|
|
|
1,060,534 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
9 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Massachusetts - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Milford Regional Medical Center, Series F |
|
|
5.750 |
% |
|
|
7/15/43 |
|
|
$ |
500,000 |
|
|
$ |
469,286 |
|
| Northeastern University Issue, Refunding |
|
|
5.000 |
% |
|
|
10/1/44 |
|
|
|
2,000,000 |
|
|
|
2,162,620 |
|
| UMass Boston Student Housing Project |
|
|
5.000 |
% |
|
|
10/1/48 |
|
|
|
750,000 |
|
|
|
726,026 |
|
| Massachusetts State Port Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bosfuel Project, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/49 |
|
|
|
1,100,000 |
|
|
|
1,120,111 |
(d) |
| Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/36 |
|
|
|
1,700,000 |
|
|
|
1,798,746 |
(d) |
| Series E |
|
|
5.000 |
% |
|
|
7/1/46 |
|
|
|
5,480,000 |
|
|
|
5,664,863 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Massachusetts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,333,402 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Michigan - 3.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Detroit, MI, Downtown Development Authority Revenue, Catalyst Development, Series A, Refunding, AGM |
|
|
5.000 |
% |
|
|
7/1/48 |
|
|
|
1,000,000 |
|
|
|
1,001,952 |
|
| Great Lakes, MI, Water Authority, Water Supply System Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Lien, Series A |
|
|
5.000 |
% |
|
|
7/1/46 |
|
|
|
5,500,000 |
|
|
|
5,544,438 |
|
| Senior Lien, Series C, Refunding |
|
|
5.000 |
% |
|
|
7/1/35 |
|
|
|
500,000 |
|
|
|
520,229 |
|
| Kent County, MI, Gerald R. Ford International Airport, GO, Authority Revenue, County Guaranty, County GTD |
|
|
5.000 |
% |
|
|
1/1/46 |
|
|
|
1,000,000 |
|
|
|
1,036,929 |
(d) |
| Michigan State Finance Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Facilities Program, Series 1-A, Refunding |
|
|
5.250 |
% |
|
|
10/15/47 |
|
|
|
650,000 |
|
|
|
651,166 |
|
| Local Government Loan Program, Detroit, MI, Water & Sewer Department, Second Lien Local Project, Series C,
Refunding |
|
|
5.000 |
% |
|
|
7/1/33 |
|
|
|
625,000 |
|
|
|
638,810 |
|
| Local Government Loan Program, Detroit, MI, Water & Sewer Department, Series
C-6, Refunding |
|
|
5.000 |
% |
|
|
7/1/33 |
|
|
|
1,160,000 |
|
|
|
1,171,415 |
|
| Local Government Loan Program, Detroit, MI, Water & Sewer Department, Series
D-2, Refunding |
|
|
5.000 |
% |
|
|
7/1/34 |
|
|
|
250,000 |
|
|
|
255,258 |
|
| Tobacco Settlement Asset Backed Senior Bonds, Series B-1, Refunding |
|
|
5.000 |
% |
|
|
6/1/49 |
|
|
|
230,000 |
|
|
|
233,894 |
|
| Michigan State Hospital Finance Authority Revenue, Ascension Health Senior Credit Group, Series 2010F-4, Refunding |
|
|
5.000 |
% |
|
|
11/15/47 |
|
|
|
3,000,000 |
|
|
|
3,078,357 |
|
| Michigan State Strategic Fund Limited Obligation Revenue, I-75 Improvement
Project |
|
|
5.000 |
% |
|
|
12/31/43 |
|
|
|
1,400,000 |
|
|
|
1,406,692 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Michigan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,539,140 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
10 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Missouri - 0.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Missouri State HEFA Revenue, Senior Living Facilities, Lutheran Senior Services, Refunding |
|
|
5.000 |
% |
|
|
2/1/44 |
|
|
$ |
2,710,000 |
|
|
$ |
2,548,083 |
|
| St. Louis County, MO, IDA, Senior Living Facilities Revenue, Friendship Village, St. Louis Obligated Group, Series
A |
|
|
5.000 |
% |
|
|
9/1/38 |
|
|
|
1,250,000 |
|
|
|
1,159,025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Missouri |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,707,108 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Nebraska - 0.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Omaha, NE, Public Power District, Electric System Revenue, Series B, Refunding |
|
|
4.000 |
% |
|
|
2/1/46 |
|
|
|
1,500,000 |
|
|
|
1,421,765 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New Hampshire - 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| National Finance Authority, NH, Revenue, Presbyterian Senior Living Project, Series A |
|
|
5.250 |
% |
|
|
7/1/48 |
|
|
|
700,000 |
|
|
|
690,389 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New Jersey - 6.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New Jersey State EDA Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Private Activity-The Goethals Bridge Replacement Project, AGM |
|
|
5.125 |
% |
|
|
7/1/42 |
|
|
|
2,500,000 |
|
|
|
2,503,757 |
(d) |
| Special Facility, Port Newark Container Terminal LLC Project, Refunding |
|
|
5.000 |
% |
|
|
10/1/37 |
|
|
|
650,000 |
|
|
|
665,104 |
(d) |
| Transit Transportation Project, Series A |
|
|
5.000 |
% |
|
|
11/1/32 |
|
|
|
1,000,000 |
|
|
|
1,082,815 |
|
| New Jersey State EDA, Lease Revenue, State House Project, Series B |
|
|
5.000 |
% |
|
|
6/15/43 |
|
|
|
4,000,000 |
|
|
|
4,120,892 |
|
| New Jersey State EDA, Special Facility Revenue, Continental Airlines Inc. Project |
|
|
5.250 |
% |
|
|
9/15/29 |
|
|
|
3,000,000 |
|
|
|
3,008,528 |
(d) |
| New Jersey State Health Care Facilities Financing Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hackensack Meridian Health, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/38 |
|
|
|
400,000 |
|
|
|
415,287 |
|
| RWJ Barnabas Health Obligation Group, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/43 |
|
|
|
1,200,000 |
|
|
|
1,220,075 |
|
| New Jersey State Institute of Technology, GO, Series A |
|
|
5.000 |
% |
|
|
7/1/45 |
|
|
|
750,000 |
|
|
|
759,044 |
|
| New Jersey State Transportation Trust Fund Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Transportation Program, Series AA |
|
|
5.250 |
% |
|
|
6/15/43 |
|
|
|
1,500,000 |
|
|
|
1,566,439 |
|
| Transportation Program, Series AA |
|
|
5.000 |
% |
|
|
6/15/50 |
|
|
|
5,520,000 |
|
|
|
5,719,957 |
|
| Transportation Program, Series AA, Refunding |
|
|
5.000 |
% |
|
|
6/15/38 |
|
|
|
3,000,000 |
|
|
|
3,245,625 |
|
| Transportation Program, Series BB |
|
|
4.000 |
% |
|
|
6/15/36 |
|
|
|
2,250,000 |
|
|
|
2,264,902 |
|
| Transportation Program, Series BB |
|
|
5.000 |
% |
|
|
6/15/44 |
|
|
|
2,000,000 |
|
|
|
2,062,323 |
|
| Transportation System, Series A, Refunding |
|
|
5.000 |
% |
|
|
12/15/25 |
|
|
|
1,885,000 |
|
|
|
1,945,969 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
11 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| New Jersey - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Transportation System, Series A, Refunding |
|
|
4.250 |
% |
|
|
6/15/40 |
|
|
$ |
750,000 |
|
|
$ |
752,483 |
|
| Tobacco Settlement Financing Corp., NJ, Revenue, Series A, Refunding |
|
|
5.250 |
% |
|
|
6/1/46 |
|
|
|
600,000 |
|
|
|
619,745 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total New Jersey |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
31,952,945 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New York - 21.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Brookhaven, NY, Local Development Corp. Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Long Island Community Hospital Project, Series A |
|
|
5.000 |
% |
|
|
10/1/31 |
|
|
|
1,280,000 |
|
|
|
1,381,231 |
|
| Long Island Community Hospital Project, Series A |
|
|
4.000 |
% |
|
|
10/1/45 |
|
|
|
1,250,000 |
|
|
|
1,122,763 |
|
| MTA, NY, Dedicated Tax Fund Revenue, Green Bonds, Subseries A-2 |
|
|
5.000 |
% |
|
|
11/15/47 |
|
|
|
1,500,000 |
|
|
|
1,548,066 |
|
| MTA, NY, Transportation Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Green Bonds, Series C-1, Refunding |
|
|
4.000 |
% |
|
|
11/15/37 |
|
|
|
500,000 |
|
|
|
481,720 |
|
| Green Bonds, Series E, Refunding |
|
|
5.000 |
% |
|
|
11/15/30 |
|
|
|
1,500,000 |
|
|
|
1,614,980 |
|
| Green Bonds, Series E, Refunding |
|
|
4.000 |
% |
|
|
11/15/45 |
|
|
|
1,250,000 |
|
|
|
1,144,695 |
|
| Series A-2 |
|
|
5.000 |
% |
|
|
5/15/30 |
|
|
|
1,800,000 |
|
|
|
1,912,054 |
(a)(b) |
| Series C-1 |
|
|
5.000 |
% |
|
|
11/15/33 |
|
|
|
350,000 |
|
|
|
360,289 |
|
| New York City, NY, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
5.000 |
% |
|
|
8/1/51 |
|
|
|
2,000,000 |
|
|
|
2,117,593 |
|
| Subseries A-1 |
|
|
5.000 |
% |
|
|
8/1/47 |
|
|
|
2,070,000 |
|
|
|
2,180,742 |
|
| Subseries F-1 |
|
|
5.000 |
% |
|
|
3/1/39 |
|
|
|
2,000,000 |
|
|
|
2,149,749 |
|
| New York City, NY, Industrial Development Agency Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Yankee Stadium Project, Refunding |
|
|
4.000 |
% |
|
|
3/1/45 |
|
|
|
500,000 |
|
|
|
451,134 |
|
| Yankee Stadium Project, Refunding, AGM |
|
|
4.000 |
% |
|
|
3/1/45 |
|
|
|
750,000 |
|
|
|
700,723 |
|
| New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second General Resolution Fiscal 2022, Series AA, Subseries AA-1 |
|
|
4.000 |
% |
|
|
6/15/51 |
|
|
|
4,500,000 |
|
|
|
4,245,418 |
|
| Second General Resolution, Series CC |
|
|
5.000 |
% |
|
|
6/15/48 |
|
|
|
600,000 |
|
|
|
616,995 |
|
| Second General Resolution, Series CC-1, Refunding |
|
|
5.000 |
% |
|
|
6/15/46 |
|
|
|
1,000,000 |
|
|
|
1,028,293 |
|
| New York City, NY, TFA Future Tax Secured Revenue, Subseries F-1 |
|
|
5.000 |
% |
|
|
5/1/42 |
|
|
|
3,000,000 |
|
|
|
3,094,758 |
|
| New York City, NY, TFA, Future Tax Secured Revenue, Subordinated, Subseries
A-1 |
|
|
5.000 |
% |
|
|
5/1/53 |
|
|
|
8,000,000 |
|
|
|
8,457,457 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
12 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| New York - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New York State Dormitory Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-State Supported Debt, Memorial Sloan-Kettering Cancer Center, Series B-1 |
|
|
4.000 |
% |
|
|
7/1/51 |
|
|
$ |
2,000,000 |
|
|
$ |
1,853,112 |
|
| Non-State Supported Debt, School District, Series A, AGM |
|
|
5.000 |
% |
|
|
10/1/29 |
|
|
|
5,000 |
|
|
|
5,477 |
(g) |
| Series B, Refunding |
|
|
5.000 |
% |
|
|
2/15/43 |
|
|
|
5,000 |
|
|
|
5,371 |
(g) |
| New York State Dormitory Authority, Income Tax Revenue, Series B, Refunding |
|
|
5.000 |
% |
|
|
2/15/41 |
|
|
|
2,995,000 |
|
|
|
3,121,172 |
|
| New York State Dormitory Authority, Sales Tax Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bidding Group 4, Series A, Refunding |
|
|
5.000 |
% |
|
|
3/15/45 |
|
|
|
1,000,000 |
|
|
|
1,039,115 |
|
| Bidding Group 4, Series E, Refunding |
|
|
5.000 |
% |
|
|
3/15/44 |
|
|
|
2,000,000 |
|
|
|
2,088,139 |
|
| New York State Dormitory Authority, State Personal Income Tax Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bidding Group 4, Series A, Refunding |
|
|
5.000 |
% |
|
|
3/15/45 |
|
|
|
3,250,000 |
|
|
|
3,392,417 |
|
| Bidding Group 4, Series A, Refunding |
|
|
4.000 |
% |
|
|
3/15/46 |
|
|
|
7,240,000 |
|
|
|
6,887,880 |
|
| New York State Liberty Development Corp. Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 World Trade Center Project, Class 1, Refunding |
|
|
5.000 |
% |
|
|
11/15/44 |
|
|
|
1,750,000 |
|
|
|
1,674,906 |
(e) |
| 7 World Trade Center Project, Class 2, Refunding |
|
|
3.250 |
% |
|
|
9/15/52 |
|
|
|
3,800,000 |
|
|
|
2,779,415 |
|
| Goldman Sachs Headquarters |
|
|
5.500 |
% |
|
|
10/1/37 |
|
|
|
1,485,000 |
|
|
|
1,662,711 |
|
| New York State Thruway Authority General Revenue, Junior Indebtedness Obligations, Junior Lien, Series B |
|
|
4.000 |
% |
|
|
1/1/45 |
|
|
|
3,000,000 |
|
|
|
2,797,988 |
|
| New York State Transportation Development Corp., Special Facilities Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Delta Air Lines Inc., LaGuardia Airport Terminals C and D Redevelopment Project |
|
|
5.000 |
% |
|
|
1/1/33 |
|
|
|
1,750,000 |
|
|
|
1,801,961 |
(d) |
| Delta Air Lines Inc., LaGuardia Airport Terminals C and D Redevelopment Project |
|
|
4.375 |
% |
|
|
10/1/45 |
|
|
|
1,500,000 |
|
|
|
1,414,622 |
(d) |
| John F. Kennedy International Airport Terminal 4 Project, Series C, Refunding |
|
|
4.000 |
% |
|
|
12/1/41 |
|
|
|
2,160,000 |
|
|
|
2,014,156 |
|
| LaGuardia Airport Terminal B Redevelopment Project, Series A |
|
|
5.000 |
% |
|
|
7/1/41 |
|
|
|
1,250,000 |
|
|
|
1,250,228 |
(d) |
| LaGuardia Airport Terminal B Redevelopment Project, Series A |
|
|
5.000 |
% |
|
|
7/1/46 |
|
|
|
9,250,000 |
|
|
|
9,220,670 |
(d) |
| New York State Urban Development Corp. Revenue, State Personal Income Tax, Series C |
|
|
4.000 |
% |
|
|
3/15/45 |
|
|
|
2,500,000 |
|
|
|
2,398,541 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
13 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| New York - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Port Authority of New York & New Jersey Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Consolidated Series 194, Refunding |
|
|
5.000 |
% |
|
|
10/15/41 |
|
|
$ |
6,400,000 |
|
|
$ |
6,540,948 |
|
| Consolidated Series 221 |
|
|
4.000 |
% |
|
|
7/15/50 |
|
|
|
2,600,000 |
|
|
|
2,362,110 |
(d) |
| Consolidated Series 221 |
|
|
4.000 |
% |
|
|
7/15/55 |
|
|
|
1,000,000 |
|
|
|
891,141 |
(d) |
| Triborough Bridge & Tunnel Authority, NY, Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General-MTA Bridges & Tunnels, Series A |
|
|
5.000 |
% |
|
|
11/15/49 |
|
|
|
6,900,000 |
|
|
|
7,227,577 |
|
| General-MTA Bridges & Tunnels, Series A |
|
|
5.000 |
% |
|
|
11/15/51 |
|
|
|
1,400,000 |
|
|
|
1,467,696 |
|
| General-MTA Bridges & Tunnels, Series A |
|
|
4.000 |
% |
|
|
11/15/56 |
|
|
|
1,250,000 |
|
|
|
1,150,748 |
|
| Senior Lien-MTA Bridges & Tunnels, Series C-1A |
|
|
5.000 |
% |
|
|
5/15/51 |
|
|
|
4,950,000 |
|
|
|
5,219,924 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total New York |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
104,876,685 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| North Carolina - 1.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Charlotte, NC, Airport Revenue, Charlotte Douglas International Airport, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/49 |
|
|
|
1,750,000 |
|
|
|
1,816,343 |
|
| Charlotte, NC, Lease Revenue, COP, Convention Facility Project, Series A, Refunding |
|
|
4.000 |
% |
|
|
6/1/49 |
|
|
|
750,000 |
|
|
|
718,884 |
|
| North Carolina State Medical Care Commission, Retirement Facilities Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| The Forest at Duke Project |
|
|
4.000 |
% |
|
|
9/1/41 |
|
|
|
500,000 |
|
|
|
420,586 |
|
| The Forest at Duke Project |
|
|
4.000 |
% |
|
|
9/1/46 |
|
|
|
715,000 |
|
|
|
572,830 |
|
| The Forest at Duke Project |
|
|
4.000 |
% |
|
|
9/1/51 |
|
|
|
1,000,000 |
|
|
|
771,678 |
|
| North Carolina State Turnpike Authority, Monroe Expressway Toll Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/47 |
|
|
|
750,000 |
|
|
|
755,691 |
|
| Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/51 |
|
|
|
1,500,000 |
|
|
|
1,510,266 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total North Carolina |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,566,278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| North Dakota - 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Grand Forks, ND, Health Care System Revenue, Altru Health System, Refunding, AGM |
|
|
3.000 |
% |
|
|
12/1/46 |
|
|
|
2,700,000 |
|
|
|
1,932,179 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
14 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Ohio - 1.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Buckeye, OH, Tobacco Settlement Financing Authority Revenue, Senior Bonds, Series
B-2, Refunding |
|
|
5.000 |
% |
|
|
6/1/55 |
|
|
$ |
2,300,000 |
|
|
$ |
2,105,595 |
|
| Ohio State Air Quality Development Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| American Electric Co. Project, Series B, Refunding |
|
|
2.500 |
% |
|
|
10/1/29 |
|
|
|
1,500,000 |
|
|
|
1,291,963 |
(a)(b)(d) |
| AMG Vanadium Project, Series 2019 |
|
|
5.000 |
% |
|
|
7/1/49 |
|
|
|
950,000 |
|
|
|
857,034 |
(d) |
| Duke Energy Corp. Project, Series B, Refunding |
|
|
4.250 |
% |
|
|
6/1/27 |
|
|
|
1,000,000 |
|
|
|
994,453 |
(a)(b)(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Ohio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,249,045 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Oklahoma - 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Oklahoma State Municipal Power Authority Revenue, Series A, Refunding, AGM |
|
|
4.000 |
% |
|
|
1/1/47 |
|
|
|
2,000,000 |
|
|
|
1,897,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Oregon - 1.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Oregon State Business Development Commission Revenue, Intel Corp. Project, Series 232 |
|
|
3.800 |
% |
|
|
6/15/28 |
|
|
|
2,000,000 |
|
|
|
1,997,636 |
(a)(b) |
| Oregon State Facilities Authority Revenue, Legacy Health Project, Series A, Refunding |
|
|
5.000 |
% |
|
|
6/1/46 |
|
|
|
2,000,000 |
|
|
|
2,015,813 |
|
| Port of Portland, OR, Airport Revenue, Portland International Airport, Series C, Refunding |
|
|
5.000 |
% |
|
|
7/1/24 |
|
|
|
1,000,000 |
|
|
|
1,007,173 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Oregon |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,020,622 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pennsylvania - 6.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bucks County, PA, Water and Sewer Authority, Sewer System Revenue, Series A, AGM |
|
|
4.250 |
% |
|
|
12/1/47 |
|
|
|
750,000 |
|
|
|
728,615 |
|
| Commonwealth Financing Authority, PA, Tobacco Master Settlement Payment Revenue Bonds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2018 |
|
|
5.000 |
% |
|
|
6/1/32 |
|
|
|
250,000 |
|
|
|
265,256 |
|
| Series 2018 |
|
|
5.000 |
% |
|
|
6/1/33 |
|
|
|
500,000 |
|
|
|
530,065 |
|
| Cumberland County, PA, Municipal Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Diakon Lutheran Social Ministries, Refunding |
|
|
5.000 |
% |
|
|
1/1/30 |
|
|
|
375,000 |
|
|
|
382,741 |
(g) |
| Diakon Lutheran Social Ministries, Refunding |
|
|
5.000 |
% |
|
|
1/1/30 |
|
|
|
1,145,000 |
|
|
|
1,150,007 |
|
| Lancaster County, PA, Convention Center Authority Revenue, Hotel Room Rental Tax: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series B, Refunding, County GTD |
|
|
4.750 |
% |
|
|
5/1/53 |
|
|
|
1,000,000 |
|
|
|
975,671 |
|
| Series B, Refunding, County GTD |
|
|
4.750 |
% |
|
|
5/1/57 |
|
|
|
2,500,000 |
|
|
|
2,434,146 |
|
| Lancaster County, PA, Hospital Authority Revenue, Penn State Health, Series 2021 |
|
|
5.000 |
% |
|
|
11/1/46 |
|
|
|
2,750,000 |
|
|
|
2,817,542 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
15 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Pennsylvania - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pennsylvania State Economic Development Financing Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Tax-Exempt Private Activity, The Penndot Major Bridges Package One
Project |
|
|
5.750 |
% |
|
|
6/30/48 |
|
|
$ |
2,000,000 |
|
|
$ |
2,169,470 |
(d) |
| Tax-Exempt Private Activity, The Penndot Major Bridges Package One
Project |
|
|
5.250 |
% |
|
|
6/30/53 |
|
|
|
5,100,000 |
|
|
|
5,184,619 |
(d) |
| Pennsylvania State Turnpike Commission Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A-2, Refunding |
|
|
5.000 |
% |
|
|
12/1/48 |
|
|
|
1,000,000 |
|
|
|
1,034,160 |
|
| Series B |
|
|
5.000 |
% |
|
|
12/1/45 |
|
|
|
1,500,000 |
|
|
|
1,563,441 |
|
| Series B, Refunding |
|
|
5.250 |
% |
|
|
12/1/47 |
|
|
|
1,200,000 |
|
|
|
1,299,126 |
|
| Series C, Refunding |
|
|
4.000 |
% |
|
|
12/1/51 |
|
|
|
2,000,000 |
|
|
|
1,820,509 |
|
| Subordinated, Series B |
|
|
5.000 |
% |
|
|
12/1/48 |
|
|
|
2,900,000 |
|
|
|
2,978,504 |
|
| Philadelphia, PA, Authority for IDR, Lease Revenue, Refunding |
|
|
5.000 |
% |
|
|
10/1/30 |
|
|
|
1,200,000 |
|
|
|
1,334,377 |
|
| Philadelphia, PA, SD, GO, Series A, State Aid Withholding |
|
|
5.000 |
% |
|
|
9/1/33 |
|
|
|
1,755,000 |
|
|
|
1,787,239 |
|
| State Public School Building Authority, PA, Lease Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Philadelphia SD Project, Series A, Refunding, AGM, State Aid Withholding |
|
|
5.000 |
% |
|
|
6/1/31 |
|
|
|
600,000 |
|
|
|
622,866 |
|
| Philadelphia SD Project, Series A, Refunding, AGM, State Aid Withholding |
|
|
5.000 |
% |
|
|
6/1/33 |
|
|
|
1,780,000 |
|
|
|
1,848,388 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Pennsylvania |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,926,742 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Puerto Rico - 5.7% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Puerto Rico Commonwealth Aqueduct & Sewer Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Lien, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/47 |
|
|
|
3,700,000 |
|
|
|
3,555,362 |
(e) |
| Series B, Refunding |
|
|
5.000 |
% |
|
|
7/1/33 |
|
|
|
1,340,000 |
|
|
|
1,355,473 |
(e) |
| Puerto Rico Commonwealth Highway & Transportation Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CAB, Restructured, Series B |
|
|
0.000 |
% |
|
|
7/1/32 |
|
|
|
338,000 |
|
|
|
217,587 |
|
| Restructured, Series A |
|
|
5.000 |
% |
|
|
7/1/62 |
|
|
|
375,000 |
|
|
|
369,844 |
|
| Puerto Rico Commonwealth, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CAB, Restructured, Series A-1 |
|
|
0.000 |
% |
|
|
7/1/24 |
|
|
|
7,624 |
|
|
|
7,347 |
|
| CAB, Restructured, Series A-1 |
|
|
0.000 |
% |
|
|
7/1/33 |
|
|
|
60,471 |
|
|
|
36,845 |
|
| Restructured, Series A-1 |
|
|
5.375 |
% |
|
|
7/1/25 |
|
|
|
52,334 |
|
|
|
53,329 |
|
| Restructured, Series A-1 |
|
|
5.625 |
% |
|
|
7/1/27 |
|
|
|
51,860 |
|
|
|
54,088 |
|
| Restructured, Series A-1 |
|
|
5.625 |
% |
|
|
7/1/29 |
|
|
|
51,018 |
|
|
|
53,979 |
|
| Restructured, Series A-1 |
|
|
5.750 |
% |
|
|
7/1/31 |
|
|
|
49,554 |
|
|
|
53,597 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
16 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Puerto Rico - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Restructured, Series A-1 |
|
|
4.000 |
% |
|
|
7/1/33 |
|
|
$ |
46,990 |
|
|
$ |
44,001 |
|
| Restructured, Series A-1 |
|
|
4.000 |
% |
|
|
7/1/35 |
|
|
|
992,237 |
|
|
|
911,924 |
|
| Restructured, Series A-1 |
|
|
4.000 |
% |
|
|
7/1/37 |
|
|
|
3,125,000 |
|
|
|
2,811,577 |
|
| Restructured, Series A-1 |
|
|
4.000 |
% |
|
|
7/1/41 |
|
|
|
489,287 |
|
|
|
423,114 |
|
| Restructured, Series A-1 |
|
|
4.000 |
% |
|
|
7/1/46 |
|
|
|
51,258 |
|
|
|
42,671 |
|
| Subseries CW |
|
|
0.000 |
% |
|
|
11/1/43 |
|
|
|
221,913 |
|
|
|
114,563 |
(b) |
| Puerto Rico Electric Power Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
5.000 |
% |
|
|
7/1/42 |
|
|
|
2,230,000 |
|
|
|
613,250 |
*(h) |
| Series A |
|
|
5.050 |
% |
|
|
7/1/42 |
|
|
|
350,000 |
|
|
|
96,250 |
*(h) |
| Series XX |
|
|
5.250 |
% |
|
|
7/1/40 |
|
|
|
3,495,000 |
|
|
|
961,125 |
*(h) |
| Series ZZ, Refunding |
|
|
— |
|
|
|
7/1/18 |
|
|
|
1,250,000 |
|
|
|
340,625 |
*(i) |
| Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CAB, Restructured, Series A-1 |
|
|
0.000 |
% |
|
|
7/1/27 |
|
|
|
960,000 |
|
|
|
821,747 |
|
| CAB, Restructured, Series A-1 |
|
|
0.000 |
% |
|
|
7/1/46 |
|
|
|
6,030,000 |
|
|
|
1,679,525 |
|
| Restructured, Series A-1 |
|
|
4.550 |
% |
|
|
7/1/40 |
|
|
|
230,000 |
|
|
|
224,256 |
|
| Restructured, Series A-1 |
|
|
4.750 |
% |
|
|
7/1/53 |
|
|
|
400,000 |
|
|
|
374,992 |
|
| Restructured, Series A-1 |
|
|
5.000 |
% |
|
|
7/1/58 |
|
|
|
3,600,000 |
|
|
|
3,493,460 |
|
| Restructured, Series A-2 |
|
|
4.329 |
% |
|
|
7/1/40 |
|
|
|
6,380,000 |
|
|
|
6,058,484 |
|
| Restructured, Series A-2A |
|
|
4.550 |
% |
|
|
7/1/40 |
|
|
|
3,550,000 |
|
|
|
3,461,339 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Puerto Rico |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,230,354 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| South Carolina - 0.7% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| South Carolina State Jobs-EDA Hospital Facilities Revenue, Bon Secours Mercy
Health Inc., Series A, Refunding |
|
|
4.000 |
% |
|
|
12/1/44 |
|
|
|
2,000,000 |
|
|
|
1,858,566 |
|
| South Carolina State Ports Authority Revenue, Series 2018 |
|
|
5.000 |
% |
|
|
7/1/48 |
|
|
|
1,750,000 |
|
|
|
1,765,553 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total South Carolina |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,624,119 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| South Dakota - 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| South Dakota State HEFA Revenue, Regional Health |
|
|
5.000 |
% |
|
|
9/1/40 |
|
|
|
500,000 |
|
|
|
506,162 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Tennessee - 2.7% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clarksville, TN, Water, Sewer & Gas Revenue, Series A |
|
|
4.000 |
% |
|
|
2/1/51 |
|
|
|
2,500,000 |
|
|
|
2,373,865 |
|
| Knox County, TN, Health, Educational & Housing Facility Board Revenue, University Health System Inc., Series
A |
|
|
5.000 |
% |
|
|
9/1/40 |
|
|
|
1,200,000 |
|
|
|
1,173,449 |
|
| Metropolitan Government of Nashville & Davidson County, TN, Sports Authority Revenue, Series A, AGM |
|
|
5.250 |
% |
|
|
7/1/53 |
|
|
|
1,750,000 |
|
|
|
1,878,184 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
17 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Tennessee - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Metropolitan Government of Nashville & Davidson County, TN, Water & Sewer Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Subordinated, Green Bonds, Series A |
|
|
5.000 |
% |
|
|
7/1/42 |
|
|
$ |
500,000 |
|
|
$ |
518,790 |
|
| Subordinated, Series B, Refunding |
|
|
5.000 |
% |
|
|
7/1/46 |
|
|
|
1,000,000 |
|
|
|
1,033,166 |
|
| Tennessee State Energy Acquisition Corp., Natural Gas Revenue, Series 2018 |
|
|
4.000 |
% |
|
|
11/1/25 |
|
|
|
6,500,000 |
|
|
|
6,426,175 |
(a)(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Tennessee |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,403,629 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Texas - 6.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arlington, TX, Special Tax Revenue, Senior Lien, Series A, AGM |
|
|
5.000 |
% |
|
|
2/15/48 |
|
|
|
1,250,000 |
|
|
|
1,283,618 |
|
| Austin, TX, Airport System Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2022 |
|
|
5.000 |
% |
|
|
11/15/52 |
|
|
|
1,500,000 |
|
|
|
1,535,704 |
(d) |
| Series B |
|
|
5.000 |
% |
|
|
11/15/39 |
|
|
|
2,520,000 |
|
|
|
2,602,427 |
(d) |
| Central Texas Regional Mobility Authority Revenue, Senior Lien, Series B |
|
|
4.000 |
% |
|
|
1/1/51 |
|
|
|
3,300,000 |
|
|
|
2,962,613 |
|
| Forney, TX, ISD, GO, Unlimited Tax School Building Bonds, Series 2019, PSF - GTD |
|
|
5.000 |
% |
|
|
2/15/49 |
|
|
|
500,000 |
|
|
|
513,859 |
|
| Grand Parkway Transportation Corp., TX, System Toll Revenue, Convertible CAB, Step bond, Series A, B and C (0.000% to
10/1/23 then 5.500%) |
|
|
0.000 |
% |
|
|
10/1/36 |
|
|
|
4,000,000 |
|
|
|
4,304,758 |
|
| Harris County, TX, Cultural Education Facilities Finance Corp., Hospital Revenue, Texas Children’s Hospital,
Series B, Refunding |
|
|
5.000 |
% |
|
|
10/1/31 |
|
|
|
1,250,000 |
|
|
|
1,400,039 |
(a)(b) |
| Hays, TX, ISD, GO, Unlimited Tax School Building Bonds, PSF - GTD |
|
|
4.000 |
% |
|
|
2/15/47 |
|
|
|
1,250,000 |
|
|
|
1,182,468 |
|
| Houston, TX, Airport System Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series B-1 |
|
|
5.000 |
% |
|
|
7/15/30 |
|
|
|
5,500,000 |
|
|
|
5,529,803 |
(d) |
| Special Facilities, United Airlines Inc., Terminal Improvement Project, Series
B-1 |
|
|
4.000 |
% |
|
|
7/15/41 |
|
|
|
1,500,000 |
|
|
|
1,327,221 |
(d) |
| Subordinated Lien, Series A, Refunding |
|
|
4.000 |
% |
|
|
7/1/40 |
|
|
|
2,000,000 |
|
|
|
1,890,114 |
(d) |
| Houston, TX, Combined Utility System Revenue, First Lien, Series D, Refunding |
|
|
5.000 |
% |
|
|
11/15/44 |
|
|
|
1,000,000 |
|
|
|
1,007,493 |
|
| Love Field, TX, Airport Modernization Corp., General Airport Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2017 |
|
|
5.000 |
% |
|
|
11/1/33 |
|
|
|
120,000 |
|
|
|
123,927 |
(d) |
| Series 2017 |
|
|
5.000 |
% |
|
|
11/1/36 |
|
|
|
120,000 |
|
|
|
122,690 |
(d) |
| New Hope Cultural Education Facilities Finance Corp., TX, Student Housing Revenue, Collegiate Housing College Station,
AGM |
|
|
5.000 |
% |
|
|
4/1/46 |
|
|
|
750,000 |
|
|
|
746,657 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
18 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Texas - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Newark, TX, Higher Education Finance Corp., Education Revenue, TLC Academy, Series A |
|
|
4.000 |
% |
|
|
8/15/51 |
|
|
$ |
1,000,000 |
|
|
$ |
735,913 |
|
| North Texas Tollway Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/39 |
|
|
|
825,000 |
|
|
|
841,298 |
|
| Series B, Refunding |
|
|
5.000 |
% |
|
|
1/1/45 |
|
|
|
2,105,000 |
|
|
|
2,113,389 |
|
| Port Beaumont, TX, Navigation District Dock and Wharf Facility Revenue, Jefferson Gulf Coast Energy Project, Series
A |
|
|
3.000 |
% |
|
|
1/1/50 |
|
|
|
400,000 |
|
|
|
229,666 |
(d)(e) |
| Tarrant County, TX, Cultural Education Facilities Finance Corp., Hospital Revenue, Methodist Hospitals of
Dallas |
|
|
4.000 |
% |
|
|
10/1/42 |
|
|
|
1,750,000 |
|
|
|
1,618,599 |
|
| Texas State Private Activity Bond Surface Transportation Corp. Revenue, Senior Lien, Blueridge Transportation Group
LLC |
|
|
5.000 |
% |
|
|
12/31/45 |
|
|
|
1,600,000 |
|
|
|
1,600,735 |
(d) |
| Woodloch, TX, Health Facilities Development Corp., Senior Housing Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Inspired Living at Lewisville Project, Series A-1 |
|
|
6.750 |
% |
|
|
12/1/51 |
|
|
|
500,000 |
|
|
|
300,000 |
*(e)(h) |
| Subordinated, Inspired Living at Lewisville Project, Series B |
|
|
10.000 |
% |
|
|
12/1/51 |
|
|
|
150,000 |
|
|
|
7,500 |
*(h) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Texas |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
33,980,491 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Utah - 1.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Salt Lake City, UT, Airport Revenue, Salt Lake City International Airport, Series A |
|
|
5.000 |
% |
|
|
7/1/43 |
|
|
|
5,250,000 |
|
|
|
5,354,255 |
(d) |
| Utah State Charter School Finance Authority, Charter School Revenue, Syracuse Arts Academy Project, UT CSCE |
|
|
5.000 |
% |
|
|
4/15/47 |
|
|
|
1,000,000 |
|
|
|
1,002,682 |
|
| Utah State Infrastructure Agency, Telecommunications Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2019 |
|
|
4.000 |
% |
|
|
10/15/39 |
|
|
|
1,000,000 |
|
|
|
843,869 |
|
| Series 2021 |
|
|
4.000 |
% |
|
|
10/15/38 |
|
|
|
500,000 |
|
|
|
428,989 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Utah |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,629,795 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Virginia - 2.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arlington County, VA, IDA, Hospital Revenue, Virginia Hospital Center, Refunding |
|
|
5.000 |
% |
|
|
7/1/35 |
|
|
|
700,000 |
|
|
|
757,064 |
|
| Virginia State Port Authority, Port Facilities Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series B, Refunding |
|
|
5.000 |
% |
|
|
7/1/41 |
|
|
|
1,100,000 |
|
|
|
1,111,452 |
(d) |
| Series B, Refunding |
|
|
5.000 |
% |
|
|
7/1/45 |
|
|
|
1,500,000 |
|
|
|
1,510,869 |
(d) |
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
19 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Virginia - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Virginia State Small Business Financing Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| National Senior Campuses, Inc., Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/32 |
|
|
$ |
500,000 |
|
|
$ |
526,854 |
|
| National Senior Campuses, Inc., Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/34 |
|
|
|
300,000 |
|
|
|
315,480 |
|
| Senior Lien, 95 Express Lanes LLC Project, Refunding |
|
|
5.000 |
% |
|
|
7/1/35 |
|
|
|
3,000,000 |
|
|
|
3,166,433 |
(d) |
| Senior Lien, 95 Express Lanes LLC Project, Refunding |
|
|
5.000 |
% |
|
|
1/1/37 |
|
|
|
1,000,000 |
|
|
|
1,037,505 |
(d) |
| Senior Lien, I-495 HOT Lanes Project, Refunding |
|
|
5.000 |
% |
|
|
12/31/47 |
|
|
|
1,250,000 |
|
|
|
1,260,370 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Virginia |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,686,027 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Washington - 1.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Port of Seattle, WA, Intermediate Lien Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2019 |
|
|
4.000 |
% |
|
|
4/1/44 |
|
|
|
750,000 |
|
|
|
684,567 |
(d) |
| Series 2019 |
|
|
5.000 |
% |
|
|
4/1/44 |
|
|
|
1,500,000 |
|
|
|
1,534,524 |
(d) |
| Series 2022, Refunding |
|
|
5.000 |
% |
|
|
8/1/41 |
|
|
|
2,500,000 |
|
|
|
2,601,327 |
(d) |
| Series C |
|
|
5.000 |
% |
|
|
5/1/42 |
|
|
|
1,500,000 |
|
|
|
1,526,450 |
(d) |
| Washington State Health Care Facilities Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Seattle Cancer Care Alliance, Refunding |
|
|
4.000 |
% |
|
|
12/1/45 |
|
|
|
1,200,000 |
|
|
|
1,075,258 |
|
| Seattle Cancer Care Alliance, Refunding |
|
|
5.000 |
% |
|
|
9/1/50 |
|
|
|
1,500,000 |
|
|
|
1,538,064 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Washington |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,960,190 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Wisconsin - 1.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mount Pleasant, WI, Tax Increment Revenue, Series A |
|
|
5.000 |
% |
|
|
4/1/48 |
|
|
|
2,500,000 |
|
|
|
2,526,303 |
|
| Public Finance Authority, WI, Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Carmelite System Inc., Obligated Group, Series 2020, Refunding |
|
|
5.000 |
% |
|
|
1/1/40 |
|
|
|
500,000 |
|
|
|
482,124 |
|
| Cone Health, Series A |
|
|
5.000 |
% |
|
|
10/1/52 |
|
|
|
1,500,000 |
|
|
|
1,528,579 |
|
| Public Finance Authority, WI, Student Housing Revenue, University of Hawai’i Foundation Project, Green Bonds,
Series A-1 |
|
|
4.000 |
% |
|
|
7/1/51 |
|
|
|
1,390,000 |
|
|
|
1,070,126 |
(e) |
| Wisconsin State HEFA Revenue, Bellin Memorial Hospital Inc., Series A |
|
|
5.500 |
% |
|
|
12/1/52 |
|
|
|
1,250,000 |
|
|
|
1,323,111 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Wisconsin |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,930,243 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL MUNICIPAL BONDS
(Cost - $707,879,506) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
694,930,623 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
20 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUSTS(j) - 3.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New York - 3.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue, Second General Resolution
Fiscal 2023, Subseries AA-1 |
|
|
5.250 |
% |
|
|
6/15/52 |
|
|
$ |
6,920,000 |
|
|
$ |
7,477,129 |
|
| New York State Dormitory Authority, State Personal Income Tax Revenue, General Purpose Bonds, Series A |
|
|
4.000 |
% |
|
|
3/15/45 |
|
|
|
8,480,000 |
|
|
|
8,112,846 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUSTS
(Cost - $15,892,222) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,589,975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
(Cost - $723,771,728) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
710,520,598 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SHORT-TERM INVESTMENTS - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| MUNICIPAL BONDS - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mississippi - 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mississippi State Business Finance Corp., Gulf Opportunity Zone, IDR, Chevron USA Inc. Project, Series I |
|
|
3.800 |
% |
|
|
11/1/35 |
|
|
|
600,000 |
|
|
|
600,000 |
(k)(l) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pennsylvania - 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pennsylvania State Turnpike Commission Revenue, Series 2020, Refunding, LOC - TD Bank N.A. |
|
|
4.010 |
% |
|
|
12/1/39 |
|
|
|
400,000 |
|
|
|
400,000 |
(k)(l) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL MUNICIPAL BONDS
(Cost - $1,000,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,000,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
SHARES |
|
|
|
|
| MONEY MARKET FUNDS - 0.0%†† |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Western Asset Premier Institutional Government Reserves, Premium Shares
(Cost - $35,231) |
|
|
5.261 |
% |
|
|
|
|
|
|
35,231 |
|
|
|
35,231 |
(m)(n) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL SHORT-TERM INVESTMENTS
(Cost - $1,035,231) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,035,231 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL INVESTMENTS - 145.0%
(Cost - $724,806,959) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
711,555,829 |
|
| Auction Rate Cumulative Preferred Stock, at Liquidation Value - (0.3)% |
|
|
|
|
|
|
|
(1,300,000 |
) |
| Variable Rate Demand Preferred Stock, at Liquidation Value - (44.3)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(217,575,000 |
) |
| TOB Floating Rate Notes - (1.8)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(8,855,000 |
) |
| Other Assets in Excess of Other Liabilities - 1.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
7,052,507 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS - 100.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
490,878,336 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
21 |
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
| †† |
Represents less than 0.1%. |
| * |
Non-income producing security. |
| (a) |
Maturity date shown represents the mandatory tender date. |
| (b) |
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. |
| (c) |
Securities traded on a when-issued or delayed delivery basis. |
| (d) |
Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax
(“AMT”). |
| (e) |
Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold
in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors. |
| (f) |
Bonds are generally escrowed to maturity by government securities and/or U.S. government agency securities.
|
| (g) |
Pre-Refunded bonds are generally escrowed with U.S. government
obligations and/or U.S. government agency securities. |
| (h) |
The coupon payment on this security is currently in default as of August 31, 2023. |
| (i) |
The maturity principal is currently in default as of August 31, 2023. |
| (j) |
Represents securities deposited into a special purpose entity, referred to as a Tender Option Bond
(“TOB”) trust. |
| (k) |
Variable rate demand obligations (“VRDOs”) have a demand feature under which the Fund can tender them
back to the issuer or liquidity provider on no more than 7 days notice. The interest rate generally resets on a daily or weekly basis and is determined on the specific interest rate reset date by the remarketing agent, pursuant to a formula
specified in official documents for the VRDO, or set at the highest rate allowable as specified in official documents for the VRDO. VRDOs are benchmarked to the Securities Industry and Financial Markets Association (“SIFMA”) Municipal Swap
Index. The SIFMA Municipal Swap Index is compiled from weekly interest rate resets of tax-exempt VRDOs reported to the Municipal Securities Rulemaking Board’s Short-term Obligation Rate Transparency
System. |
| (l) |
Maturity date shown is the final maturity date. The security may be sold back to the issuer before final
maturity. |
| (m) |
Rate shown is one-day yield as of the end of the reporting period.
|
| (n) |
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 August 31, 2023, the total market value of investments in Affiliated Companies
was $35,231 and the cost was $35,231 (Note 2). |
See Notes to
Schedule of Investments.
|
|
|
|
|
|
22 |
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MANAGED MUNICIPALS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
|
|
|
| Abbreviation(s) used in this schedule: |
|
|
| AGM |
|
— Assured Guaranty Municipal Corporation — Insured Bonds |
| BAM |
|
— Build America Mutual — Insured Bonds |
| CAB |
|
— Capital Appreciation Bonds |
| CDA |
|
— Communities Development Authority |
| COP |
|
— Certificates of Participation |
| CSCE |
|
— Charter School Credit Enhancement |
| DFA |
|
— Development Finance Agency |
| EDA |
|
— Economic Development Authority |
| EDC |
|
— Economic Development Corporation |
| GO |
|
— General Obligation |
| GTD |
|
— Guaranteed |
| HEFA |
|
— Health & Educational Facilities Authority |
| IDA |
|
— Industrial Development Authority |
| IDR |
|
— Industrial Development Revenue |
| ISD |
|
— Independent School District |
| LOC |
|
— Letter of Credit |
| MFA |
|
— Municipal Finance Authority |
| MTA |
|
— Metropolitan Transportation Authority |
| NATL |
|
— National Public Finance Guarantee Corporation — Insured Bonds |
| PCFA |
|
— Pollution Control Financing Authority |
| PEA |
|
— Public Energy Authority |
| PSF |
|
— Permanent School Fund |
| SD |
|
— School District |
| SIFMA |
|
— Securities Industry and Financial Markets Association |
| TFA |
|
— Transitional Finance Authority |
| USD |
|
— Unified School District |
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.
|
|
|
|
|
|
|
Western Asset Managed Municipals Fund Inc. 2023 Quarterly Report |
|
23 |
Notes to Schedule of Investments (unaudited)
1. Organization and significant accounting policies
Western Asset Managed Municipals Fund Inc. (the “Fund”) was incorporated in Maryland and is registered as a
non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund’s investment
objective is to seek as high a level of current income exempt from federal income tax as is consistent with preservation of capital. When pursuing its investment objective, the Fund seeks to maximize current income exempt from federal income tax as
is consistent with preservation of principal.
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. If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the
market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When
reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net
asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.
Pursuant to
policies adopted by the Board of Directors, 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
Directors. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and
reviews transactions among market participants.
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 Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of
such back testing monthly and fair valuation occurrences are reported to the Board of Directors quarterly.
The Fund uses valuation techniques to measure
fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions
involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.
GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These
inputs are summarized in the three broad levels listed below:
| |
• |
|
Level 1 – 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.
Notes to Schedule of Investments (unaudited) (cont’d)
The following is a summary of the inputs used in valuing the Fund’s assets 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†: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
|
— |
|
|
$ |
694,930,623 |
|
|
|
— |
|
|
$ |
694,930,623 |
|
| Municipal Bonds Deposited in Tender Option Bond Trusts |
|
|
— |
|
|
|
15,589,975 |
|
|
|
— |
|
|
|
15,589,975 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Long-Term Investments |
|
|
— |
|
|
|
710,520,598 |
|
|
|
— |
|
|
|
710,520,598 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Short-Term Investments†: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
|
— |
|
|
|
1,000,000 |
|
|
|
— |
|
|
|
1,000,000 |
|
| Money Market Funds |
|
$ |
35,231 |
|
|
|
— |
|
|
|
— |
|
|
|
35,231 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Short-Term Investments |
|
|
35,231 |
|
|
|
1,000,000 |
|
|
|
— |
|
|
|
1,035,231 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Investments |
|
$ |
35,231 |
|
|
$ |
711,520,598 |
|
|
|
— |
|
|
$ |
711,555,829 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| † |
See Schedule of Investments for additional detailed categorizations. |
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 August 31, 2023. The following transactions were effected in such company for the period ended August 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Affiliate
Value at
May 31,
2023 |
|
|
Purchased |
|
|
Sold |
|
|
Realized
Gain (Loss) |
|
|
Dividend
Income |
|
|
Net Increase
(Decrease) in
Unrealized
Appreciation
(Depreciation) |
|
|
Affiliate
Value at
August 31,
2023 |
|
| |
|
Cost |
|
|
Shares |
|
|
Proceeds |
|
|
Shares |
|
| Western Asset Premier Institutional Government Reserves, Premium Shares |
|
$ |
94,326 |
|
|
$ |
401,662 |
|
|
|
401,662 |
|
|
$ |
460,757 |
|
|
|
460,757 |
|
|
|
— |
|
|
$ |
547 |
|
|
|
— |
|
|
$ |
35,231 |
|
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