UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number
811-04254
Legg Mason Partners Income Trust
(Exact name of registrant as specified in charter)
55 Water Street, New York, NY 10041
(Address of principal executive
offices) (Zip code)
Robert I. Frenkel, Esq.
Legg Mason & Co., LLC
100 First Stamford Place
Stamford, CT 06902
(Name and address of agent for service)
Registrants telephone
number, including area code: 1-877-721-1926
Date of fiscal year end:
February 28
Date of reporting period:
November 30, 2012
ITEM 1.
|
SCHEDULE OF INVESTMENTS.
|
LEGG MASON PARTNERS INCOME TRUST
WESTERN ASSET MANAGED MUNICIPALS FUND
FORM N-Q
NOVEMBER 30, 2012
WESTERN ASSET MANAGED MUNICIPALS FUND
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Schedule of investments (unaudited)
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November 30, 2012
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SECURITY
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RATE
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MATURITY
DATE
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FACE
AMOUNT
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VALUE
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MUNICIPAL BONDS - 91.3%
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Alabama - 0.6%
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Birmingham, AL, Commercial Development Authority Revenue:
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|
|
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|
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Civic Center Improvements Project
|
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5.000
|
%
|
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4/1/24
|
|
|
$
|
1,770,000
|
|
|
$
|
2,117,274
|
|
Civic Center Improvements Project
|
|
|
5.000
|
%
|
|
|
4/1/25
|
|
|
|
1,970,000
|
|
|
|
2,339,434
|
|
Civic Center Improvements Project
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5.000
|
%
|
|
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4/1/26
|
|
|
|
1,700,000
|
|
|
|
2,006,816
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|
Civic Center Improvements Project
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5.000
|
%
|
|
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4/1/27
|
|
|
|
1,500,000
|
|
|
|
1,768,380
|
|
Civic Center Improvements Project
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5.000
|
%
|
|
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4/1/28
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|
|
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1,700,000
|
|
|
|
1,992,298
|
|
Civic Center Improvements Project
|
|
|
5.250
|
%
|
|
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4/1/29
|
|
|
|
1,750,000
|
|
|
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2,072,193
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Birmingham, AL, Special Care Facilities Financing Authority, Health Care Facility Revenue, Childrens Hospital, AGC
|
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6.000
|
%
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|
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6/1/39
|
|
|
|
4,000,000
|
|
|
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4,825,800
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Birmingham, AL, Waterworks Board, Water Revenue:
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AGC
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5.125
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%
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1/1/34
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5,000,000
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5,668,800
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AGC
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5.250
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%
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1/1/39
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10,000,000
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11,275,800
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Total Alabama
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34,066,795
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Alaska - 0.2%
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Valdez, AK, Marine Terminal Revenue, BP Pipelines Inc. Project
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5.000
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%
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1/1/21
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10,000,000
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12,360,200
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Arizona - 1.0%
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Greater Arizona Development Authority, Infrastructure Revenue, Pinal County Road Project, NATL
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5.000
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%
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8/1/18
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3,520,000
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3,941,907
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Maricopa County, AZ, IDA, Hospital Facilities Revenue, Samaritan Health Services, NATL
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7.000
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%
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12/1/16
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500,000
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572,130
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(a)
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Salt Verde, AZ, Financial Corp. Gas Revenue
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5.500
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%
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12/1/29
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13,275,000
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16,594,945
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Salt Verde, AZ, Financial Corp. Gas Revenue
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5.000
|
%
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12/1/32
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15,000,000
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18,046,350
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Salt Verde, AZ, Financial Corp. Senior Gas Revenue
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5.250
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%
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12/1/28
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12,000,000
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14,620,800
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Tucson, AZ, IDA, Lease Revenue, University of Arizona, Marshall Foundation, AMBAC
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5.000
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%
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7/15/22
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1,000,000
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1,001,600
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University of Arizona, COP, AMBAC
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5.000
|
%
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6/1/28
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5,435,000
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5,560,222
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(b)
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Total Arizona
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60,337,954
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California - 20.1%
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ABAG Finance Authority for Nonprofit Corp., CA, Revenue, Sharp Healthcare
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6.250
|
%
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8/1/39
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|
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|
10,000,000
|
|
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12,210,300
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|
Anaheim, CA, Public Financing Authority Revenue, Electric Systems Distribution
|
|
|
5.250
|
%
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10/1/39
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6,000,000
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6,698,700
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|
Bay Area Toll Authority, CA, Toll Bridge Revenue:
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San Francisco Bay Area
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5.000
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%
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4/1/34
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15,000,000
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17,360,400
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San Francisco Bay Area
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5.000
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%
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4/1/39
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10,000,000
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11,243,600
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San Francisco Bay Area
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5.125
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%
|
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4/1/39
|
|
|
|
70,525,000
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|
|
81,330,840
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|
Brea, CA, RDA, Refunding, Tax Allocation, Redevelopment Project AB, AMBAC
|
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|
5.000
|
%
|
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|
8/1/23
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|
4,180,000
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4,183,469
|
|
California Health Facilities Financing Authority Revenue:
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Cedars-Sinai Medical Center
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5.000
|
%
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|
8/15/34
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|
|
|
6,595,000
|
|
|
|
7,363,911
|
|
Cedars-Sinai Medical Center
|
|
|
5.000
|
%
|
|
|
8/15/39
|
|
|
|
59,145,000
|
|
|
|
65,851,452
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|
Stanford Hospital & Clinics
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|
|
5.000
|
%
|
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|
11/15/36
|
|
|
|
34,000,000
|
|
|
|
39,085,380
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|
Stanford Hospital & Clinics
|
|
|
5.150
|
%
|
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|
11/15/40
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|
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|
24,650,000
|
|
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28,446,346
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|
California Housing Finance Agency Revenue:
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|
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Home Mortgage
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4.700
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%
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|
8/1/24
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7,000,000
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6,919,220
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(c)
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Home Mortgage
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5.500
|
%
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|
|
8/1/38
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|
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|
8,090,000
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|
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|
8,352,844
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|
California Infrastructure & Economic Development Bank Revenue, Los Angeles County Department of Public Social Services, AMBAC
|
|
|
5.750
|
%
|
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|
9/1/23
|
|
|
|
2,100,000
|
|
|
|
2,164,827
|
|
See
Notes to Schedule of Investments.
1
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
California - continued
|
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California Pollution Control Financing Authority Revenue, San Jose Water Co. Project
|
|
|
5.100
|
%
|
|
|
6/1/40
|
|
|
$
|
12,000,000
|
|
|
$
|
13,197,120
|
|
California State University Revenue, Systemwide
|
|
|
5.500
|
%
|
|
|
11/1/39
|
|
|
|
10,000,000
|
|
|
|
11,810,700
|
|
California Statewide CDA Health Facility Revenue, Community Hospital of Monterey Peninsula, AGM
|
|
|
5.250
|
%
|
|
|
6/1/23
|
|
|
|
1,810,000
|
|
|
|
1,854,635
|
(b)
|
California Statewide CDA Revenue:
|
|
|
|
|
|
|
|
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|
|
|
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|
|
|
|
Catholic Healthcare West
|
|
|
5.500
|
%
|
|
|
7/1/31
|
|
|
|
7,220,000
|
|
|
|
8,136,868
|
|
Enloe Medical Center, CMI
|
|
|
5.750
|
%
|
|
|
8/15/38
|
|
|
|
10,000,000
|
|
|
|
11,054,100
|
|
FHA, Methodist Hospital Project
|
|
|
6.750
|
%
|
|
|
2/1/38
|
|
|
|
9,600,000
|
|
|
|
12,033,312
|
|
John Muir Health
|
|
|
5.000
|
%
|
|
|
8/15/36
|
|
|
|
4,305,000
|
|
|
|
4,554,303
|
|
John Muir Health
|
|
|
5.125
|
%
|
|
|
7/1/39
|
|
|
|
7,280,000
|
|
|
|
8,013,897
|
|
Kaiser Permanente
|
|
|
5.000
|
%
|
|
|
4/1/42
|
|
|
|
10,000,000
|
|
|
|
11,597,900
|
|
El Dorado, CA, Irrigation District, COP, AGC
|
|
|
5.750
|
%
|
|
|
8/1/39
|
|
|
|
10,000,000
|
|
|
|
10,819,300
|
|
Imperial Irrigation District, CA, Electric Revenue
|
|
|
5.000
|
%
|
|
|
11/1/25
|
|
|
|
2,120,000
|
|
|
|
2,506,349
|
|
Imperial Irrigation District, CA, Electric Revenue
|
|
|
5.000
|
%
|
|
|
11/1/33
|
|
|
|
7,500,000
|
|
|
|
8,656,875
|
|
Imperial Irrigation District, CA, Electric Revenue
|
|
|
5.000
|
%
|
|
|
11/1/36
|
|
|
|
4,000,000
|
|
|
|
4,568,280
|
|
Imperial Irrigation District, CA, Electric Revenue
|
|
|
5.500
|
%
|
|
|
11/1/41
|
|
|
|
7,905,000
|
|
|
|
9,298,651
|
|
Long Beach, CA, Bond Finance Authority, Natural Gas Purchase Revenue
|
|
|
5.000
|
%
|
|
|
11/15/29
|
|
|
|
2,500,000
|
|
|
|
2,879,025
|
|
Long Beach, CA, Bond Finance Authority, Natural Gas Purchase Revenue
|
|
|
5.500
|
%
|
|
|
11/15/37
|
|
|
|
11,730,000
|
|
|
|
14,576,167
|
|
Los Angeles County, CA, Public Works Financing Authority, Lease Revenue, Multiple Capital Projects II
|
|
|
5.000
|
%
|
|
|
8/1/42
|
|
|
|
21,000,000
|
|
|
|
24,080,070
|
|
Los Angeles, CA, Convention & Exhibition Center Authority, Lease Revenue
|
|
|
5.125
|
%
|
|
|
8/15/22
|
|
|
|
11,615,000
|
|
|
|
13,323,102
|
|
Los Angeles, CA, Department of Airports Revenue
|
|
|
5.250
|
%
|
|
|
5/15/39
|
|
|
|
9,000,000
|
|
|
|
10,366,200
|
|
Los Angeles, CA, Department of Airports Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Los Angeles International Airport
|
|
|
5.000
|
%
|
|
|
5/15/35
|
|
|
|
2,000,000
|
|
|
|
2,322,940
|
|
Los Angeles International Airport
|
|
|
5.000
|
%
|
|
|
5/15/40
|
|
|
|
88,185,000
|
|
|
|
101,590,675
|
|
Los Angeles, CA, Harbor Department Revenue
|
|
|
5.250
|
%
|
|
|
8/1/39
|
|
|
|
3,250,000
|
|
|
|
3,834,025
|
|
Los Angeles, CA, Water & Power Revenue, Power Systems, AGM
|
|
|
5.000
|
%
|
|
|
7/1/26
|
|
|
|
7,850,000
|
|
|
|
8,065,404
|
(b)
|
M-S-R Energy Authority, CA
|
|
|
7.000
|
%
|
|
|
11/1/34
|
|
|
|
7,000,000
|
|
|
|
10,216,150
|
|
M-S-R Energy Authority, CA, Gas Revenue
|
|
|
6.125
|
%
|
|
|
11/1/29
|
|
|
|
25,760,000
|
|
|
|
33,672,699
|
|
M-S-R Energy Authority, CA, Gas Revenue
|
|
|
7.000
|
%
|
|
|
11/1/34
|
|
|
|
46,500,000
|
|
|
|
67,864,425
|
|
M-S-R Energy Authority, CA, Gas Revenue
|
|
|
6.500
|
%
|
|
|
11/1/39
|
|
|
|
84,055,000
|
|
|
|
120,265,894
|
|
Modesto, CA, Irrigation District Financing Authority, Electric System Revenue
|
|
|
5.000
|
%
|
|
|
10/1/32
|
|
|
|
13,290,000
|
|
|
|
15,270,210
|
|
Modesto, CA, Irrigation District, COP, Capital Improvements
|
|
|
6.000
|
%
|
|
|
10/1/39
|
|
|
|
15,000,000
|
|
|
|
16,973,250
|
|
Mount Diablo, CA, USD, GO, Election of 2002
|
|
|
5.000
|
%
|
|
|
6/1/31
|
|
|
|
10,060,000
|
|
|
|
10,471,052
|
|
Newport Beach, CA, Revenue, Hoag Memorial Hospital Presbyterian
|
|
|
6.000
|
%
|
|
|
12/1/40
|
|
|
|
5,000,000
|
|
|
|
6,223,200
|
|
Palomar, CA, Pomerado Health Care District, COP
|
|
|
6.625
|
%
|
|
|
11/1/29
|
|
|
|
10,000,000
|
|
|
|
11,622,200
|
|
Pomona, CA, Public Financing Authority Revenue, Merged Redevelopment Project, NATL
|
|
|
5.000
|
%
|
|
|
2/1/27
|
|
|
|
3,000,000
|
|
|
|
3,000,300
|
|
Rancho Cucamonga, CA, RDA, Tax Allocation, Rancho Redevelopment Projects, NATL
|
|
|
5.125
|
%
|
|
|
9/1/30
|
|
|
|
5,000,000
|
|
|
|
5,001,400
|
|
Riverside, CA, USD, Financing Authority Revenue
|
|
|
5.000
|
%
|
|
|
9/1/32
|
|
|
|
1,375,000
|
|
|
|
1,539,079
|
|
Riverside, CA, USD, Financing Authority Revenue
|
|
|
5.000
|
%
|
|
|
9/1/37
|
|
|
|
1,280,000
|
|
|
|
1,408,358
|
|
Roseville, CA, Natural Gas Finance Authority Revenue
|
|
|
5.000
|
%
|
|
|
2/15/27
|
|
|
|
4,000,000
|
|
|
|
4,603,480
|
|
Sacramento County, CA, Airport System Revenue
|
|
|
5.000
|
%
|
|
|
7/1/40
|
|
|
|
7,000,000
|
|
|
|
7,921,620
|
|
Sacramento County, CA, Airport System Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PFC, Grant
|
|
|
6.000
|
%
|
|
|
7/1/35
|
|
|
|
24,360,000
|
|
|
|
28,588,652
|
|
PFC, Grant
|
|
|
6.000
|
%
|
|
|
7/1/39
|
|
|
|
29,130,000
|
|
|
|
34,170,073
|
|
Sacramento, CA, Area Flood Control Agency:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See
Notes to Schedule of Investments.
2
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
California - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated Capital Assessment District, BHAC
|
|
|
5.500
|
%
|
|
|
10/1/28
|
|
|
$
|
4,500,000
|
|
|
$
|
5,391,540
|
|
Consolidated Capital Assessment District, BHAC
|
|
|
5.625
|
%
|
|
|
10/1/37
|
|
|
|
15,000,000
|
|
|
|
17,409,900
|
|
Sacramento, CA, MUD Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NATL
|
|
|
5.000
|
%
|
|
|
8/15/33
|
|
|
|
3,475,000
|
|
|
|
3,590,683
|
(b)
|
NATL
|
|
|
5.000
|
%
|
|
|
8/15/33
|
|
|
|
1,525,000
|
|
|
|
1,570,109
|
|
San Bernardino County, CA, COP:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arrowhead Project
|
|
|
5.125
|
%
|
|
|
8/1/24
|
|
|
|
30,000,000
|
|
|
|
32,870,700
|
|
Arrowhead Project
|
|
|
5.250
|
%
|
|
|
8/1/26
|
|
|
|
5,000,000
|
|
|
|
5,447,100
|
|
San Diego County, CA, Regional Airport Authority Revenue
|
|
|
5.000
|
%
|
|
|
7/1/28
|
|
|
|
2,435,000
|
|
|
|
2,841,572
|
|
San Diego, CA, Public Facilities Financing Authority, Sewer Revenue
|
|
|
5.000
|
%
|
|
|
5/15/27
|
|
|
|
7,695,000
|
|
|
|
9,079,100
|
|
San Diego, CA, Public Facilities Financing Authority, Sewer Revenue
|
|
|
5.000
|
%
|
|
|
5/15/28
|
|
|
|
2,735,000
|
|
|
|
3,216,114
|
|
San Diego, CA, Public Facilities Financing Authority, Sewer Revenue
|
|
|
5.250
|
%
|
|
|
5/15/34
|
|
|
|
11,475,000
|
|
|
|
13,424,258
|
|
San Francisco, CA, City & County Airports Commission, International Airport Revenue
|
|
|
4.900
|
%
|
|
|
5/1/29
|
|
|
|
41,500,000
|
|
|
|
47,979,395
|
|
San Francisco, CA, City & County Airports Commission, International Airport Revenue
|
|
|
5.250
|
%
|
|
|
5/1/32
|
|
|
|
34,000,000
|
|
|
|
39,897,300
|
|
San Francisco, CA, City & County Airports Commission, International Airport Revenue
|
|
|
5.000
|
%
|
|
|
5/1/35
|
|
|
|
5,000,000
|
|
|
|
5,655,950
|
|
San Francisco, CA, City & County Airports Commission, International Airport Revenue
|
|
|
5.000
|
%
|
|
|
5/1/40
|
|
|
|
18,560,000
|
|
|
|
20,668,973
|
|
San Francisco, CA, City & County, COP:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Multiple Capital Improvement Projects
|
|
|
5.000
|
%
|
|
|
4/1/25
|
|
|
|
2,475,000
|
|
|
|
2,842,488
|
|
Multiple Capital Improvement Projects
|
|
|
5.250
|
%
|
|
|
4/1/26
|
|
|
|
1,435,000
|
|
|
|
1,658,042
|
|
Multiple Capital Improvement Projects
|
|
|
5.250
|
%
|
|
|
4/1/31
|
|
|
|
2,500,000
|
|
|
|
2,844,775
|
|
Santa Clara, CA, Electric Revenue
|
|
|
5.000
|
%
|
|
|
7/1/30
|
|
|
|
4,000,000
|
|
|
|
4,613,720
|
|
University of California Revenues:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMBAC
|
|
|
5.000
|
%
|
|
|
5/15/23
|
|
|
|
4,000,000
|
|
|
|
4,087,600
|
|
AMBAC
|
|
|
5.000
|
%
|
|
|
5/15/26
|
|
|
|
4,000,000
|
|
|
|
4,083,440
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total California
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,198,335,988
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Colorado - 1.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aurora, CO, Hospital Revenue, Childrens Hospital Association
|
|
|
5.000
|
%
|
|
|
12/1/40
|
|
|
|
4,000,000
|
|
|
|
4,473,240
|
|
Colorado Health Facilities Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Catholic Health Initiatives
|
|
|
6.250
|
%
|
|
|
10/1/33
|
|
|
|
9,250,000
|
|
|
|
11,343,090
|
|
Catholic Health Initiatives
|
|
|
5.000
|
%
|
|
|
9/1/41
|
|
|
|
3,040,000
|
|
|
|
3,256,722
|
|
Parkview Medical Center Inc. Project
|
|
|
5.000
|
%
|
|
|
9/1/37
|
|
|
|
5,000,000
|
|
|
|
5,329,150
|
|
Poudre Valley Health Care
|
|
|
5.000
|
%
|
|
|
3/1/25
|
|
|
|
500,000
|
|
|
|
530,630
|
|
Sisters Leavenworth
|
|
|
5.000
|
%
|
|
|
1/1/32
|
|
|
|
8,010,000
|
|
|
|
9,018,379
|
|
Sisters Leavenworth
|
|
|
5.000
|
%
|
|
|
1/1/35
|
|
|
|
2,755,000
|
|
|
|
3,072,100
|
|
Public Authority for Colorado Energy, Natural Gas Purchase Revenue
|
|
|
6.500
|
%
|
|
|
11/15/38
|
|
|
|
45,000,000
|
|
|
|
65,027,700
|
|
Pueblo County, CO, School District No. 60, GO, NATL, FGIC
|
|
|
5.250
|
%
|
|
|
12/15/20
|
|
|
|
500,000
|
|
|
|
500,705
|
(b)
|
Regional Transportation District, CO, COP
|
|
|
5.375
|
%
|
|
|
6/1/31
|
|
|
|
5,000,000
|
|
|
|
5,794,800
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Colorado
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
108,346,516
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Connecticut - 1.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Connecticut State Development Authority, Airport Facilities Revenue, Signature Flight Co. Project, Guaranty Agreement
|
|
|
6.625
|
%
|
|
|
12/1/14
|
|
|
|
970,000
|
|
|
|
970,213
|
(c)
|
Connecticut State HEFA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fairfield University
|
|
|
5.000
|
%
|
|
|
7/1/35
|
|
|
|
6,150,000
|
|
|
|
6,933,141
|
|
See
Notes to Schedule of Investments.
3
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Connecticut - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fairfield University
|
|
|
5.000
|
%
|
|
|
7/1/40
|
|
|
$
|
21,600,000
|
|
|
$
|
24,118,776
|
|
Sacred Heart University Inc.
|
|
|
5.125
|
%
|
|
|
7/1/26
|
|
|
|
1,300,000
|
|
|
|
1,465,503
|
|
Sacred Heart University Inc.
|
|
|
5.375
|
%
|
|
|
7/1/31
|
|
|
|
1,225,000
|
|
|
|
1,385,083
|
|
Sacred Heart University Inc.
|
|
|
5.625
|
%
|
|
|
7/1/41
|
|
|
|
6,500,000
|
|
|
|
7,370,935
|
|
Yale-New Haven Hospital
|
|
|
5.500
|
%
|
|
|
7/1/40
|
|
|
|
15,000,000
|
|
|
|
17,390,850
|
|
Connecticut State, Development Authority PCR, Connecticut Light & Power Co. Project
|
|
|
4.375
|
%
|
|
|
9/1/28
|
|
|
|
14,000,000
|
|
|
|
15,572,060
|
|
Mashantucket Western Pequot Tribe Connecticut Special Revenue
|
|
|
5.700
|
%
|
|
|
9/1/12
|
|
|
|
2,000,000
|
|
|
|
855,000
|
(d)(e)(f)
|
Mashantucket Western Pequot Tribe Connecticut Special Revenue
|
|
|
5.750
|
%
|
|
|
9/1/18
|
|
|
|
6,500,000
|
|
|
|
2,778,750
|
(d)(f)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Connecticut
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
78,840,311
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delaware - 0.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Delaware State EDA Revenue, Indian River Power LLC
|
|
|
5.375
|
%
|
|
|
10/1/45
|
|
|
|
28,645,000
|
|
|
|
31,917,691
|
|
Delaware State Housing Authority Revenue, Single-Family Mortgage
|
|
|
5.450
|
%
|
|
|
7/1/39
|
|
|
|
13,370,000
|
|
|
|
13,865,626
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Delaware
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
45,783,317
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
District of Columbia - 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Metropolitan Washington, DC, Airports Authority, Dulles Toll Road Revenue
|
|
|
5.000
|
%
|
|
|
10/1/39
|
|
|
|
8,000,000
|
|
|
|
8,959,200
|
|
Metropolitan Washington, DC, Airports Authority, Dulles Toll Road Revenue
|
|
|
5.250
|
%
|
|
|
10/1/44
|
|
|
|
5,000,000
|
|
|
|
5,676,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total District of Columbia
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,635,200
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Florida - 8.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bonnet Creek Resort Community Development District
|
|
|
7.375
|
%
|
|
|
5/1/34
|
|
|
|
4,265,000
|
|
|
|
4,212,626
|
|
Bradford County, FL, Health Facilities, Refunding, Santa Fe Healthcare Project
|
|
|
6.050
|
%
|
|
|
11/15/16
|
|
|
|
535,000
|
|
|
|
563,826
|
(a)
|
Brevard County, FL, Health Facilities Authority, Health Care Facilities Revenue, Health First Inc. Project
|
|
|
7.000
|
%
|
|
|
4/1/39
|
|
|
|
10,000,000
|
|
|
|
12,496,500
|
|
Broward County, FL, Port Facilities Revenue
|
|
|
5.500
|
%
|
|
|
9/1/29
|
|
|
|
4,500,000
|
|
|
|
5,235,255
|
|
Capital Region Community Development District, Capital Improvement
|
|
|
6.700
|
%
|
|
|
5/1/32
|
|
|
|
865,000
|
|
|
|
871,643
|
|
Citizens Property Insurance Corp., FL
|
|
|
5.250
|
%
|
|
|
6/1/17
|
|
|
|
20,000,000
|
|
|
|
23,253,400
|
|
Citizens Property Insurance Corp., FL:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Coastal
|
|
|
5.000
|
%
|
|
|
6/1/18
|
|
|
|
30,000,000
|
|
|
|
35,150,100
|
|
Coastal
|
|
|
5.000
|
%
|
|
|
6/1/19
|
|
|
|
30,000,000
|
|
|
|
35,571,600
|
|
Coastal
|
|
|
5.000
|
%
|
|
|
6/1/20
|
|
|
|
20,000,000
|
|
|
|
23,953,800
|
|
Senior Secured High Act
|
|
|
6.000
|
%
|
|
|
6/1/17
|
|
|
|
3,100,000
|
|
|
|
3,690,023
|
|
Cityplace, FL, Community Development District, Special Assessment Revenue
|
|
|
5.000
|
%
|
|
|
5/1/26
|
|
|
|
2,500,000
|
|
|
|
2,901,350
|
|
Dade County, FL, IDR, Miami Cerebral Palsy Services Project
|
|
|
8.000
|
%
|
|
|
6/1/22
|
|
|
|
1,610,000
|
|
|
|
1,610,692
|
|
Escambia County, FL, Health Facilities Revenue, Florida Health Care Facility Loan, VHA Program, AMBAC
|
|
|
5.950
|
%
|
|
|
7/1/20
|
|
|
|
120,000
|
|
|
|
133,908
|
|
Escambia County, FL, Utilities Systems Revenue, NATL, FGIC
|
|
|
6.250
|
%
|
|
|
1/1/15
|
|
|
|
3,000,000
|
|
|
|
3,194,070
|
|
Florida Housing Finance Corp. Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Homeowner Mortgage GNMA, FNMA, FHLMC
|
|
|
5.450
|
%
|
|
|
7/1/33
|
|
|
|
8,200,000
|
|
|
|
8,784,250
|
|
Homeowner Mortgage GNMA, FNMA, FHLMC
|
|
|
6.375
|
%
|
|
|
7/1/38
|
|
|
|
3,425,000
|
|
|
|
3,525,489
|
|
Homeowner Mortgage GNMA, FNMA, FHLMC
|
|
|
5.500
|
%
|
|
|
7/1/39
|
|
|
|
2,970,000
|
|
|
|
2,987,642
|
|
Florida State Broward County Expressway Authority
|
|
|
10.000
|
%
|
|
|
7/1/14
|
|
|
|
420,000
|
|
|
|
460,110
|
(a)
|
See
Notes to Schedule of Investments.
4
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Florida - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Florida State Department of Management Services, Facilities Management, Refunding, Florida Facilities Pool, AMBAC
|
|
|
5.000
|
%
|
|
|
9/1/21
|
|
|
$
|
1,000,000
|
|
|
$
|
1,125,370
|
|
Gainesville, FL, Utilities Systems Revenue
|
|
|
8.125
|
%
|
|
|
10/1/14
|
|
|
|
575,000
|
|
|
|
630,482
|
(a)
|
Highlands County, FL, Health Facilities Authority Revenue, Adventist Health Systems
|
|
|
5.875
|
%
|
|
|
11/15/29
|
|
|
|
2,750,000
|
|
|
|
2,888,270
|
(b)
|
Hillsborough County, FL, IDA Revenue, National Gypsum Convention
|
|
|
7.125
|
%
|
|
|
4/1/30
|
|
|
|
6,000,000
|
|
|
|
6,001,680
|
(c)
|
Jacksonville, FL, Sales Tax Revenue, Better Jacksonville
|
|
|
5.000
|
%
|
|
|
10/1/26
|
|
|
|
6,250,000
|
|
|
|
7,639,687
|
|
Jacksonville, FL, Transit Revenue
|
|
|
5.000
|
%
|
|
|
10/1/27
|
|
|
|
2,830,000
|
|
|
|
3,467,571
|
|
Jacksonville, FL, Transit Revenue
|
|
|
5.000
|
%
|
|
|
10/1/29
|
|
|
|
9,000,000
|
|
|
|
10,913,580
|
|
JEA District, FL, Electric System Revenue
|
|
|
5.125
|
%
|
|
|
10/1/37
|
|
|
|
7,500,000
|
|
|
|
7,685,625
|
|
Key West, FL, Utilities, Board of Electric Revenue, Refunding, AMBAC
|
|
|
9.750
|
%
|
|
|
10/1/13
|
|
|
|
40,000
|
|
|
|
43,074
|
(a)
|
Lee County, FL, HFA, Brittany Phase II Project, FNMA-Collateralized
|
|
|
6.100
|
%
|
|
|
12/1/20
|
|
|
|
1,265,000
|
|
|
|
1,266,771
|
(c)(g)
|
Marco Island, FL, Utility System Revenue
|
|
|
5.000
|
%
|
|
|
10/1/34
|
|
|
|
1,000,000
|
|
|
|
1,139,230
|
|
Marco Island, FL, Utility System Revenue
|
|
|
5.000
|
%
|
|
|
10/1/40
|
|
|
|
1,500,000
|
|
|
|
1,684,365
|
|
Martin County, FL, IDA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indiantown Cogeneration Project
|
|
|
7.875
|
%
|
|
|
12/15/25
|
|
|
|
15,000,000
|
|
|
|
15,076,050
|
(c)
|
Indiantown Cogeneration Project
|
|
|
8.050
|
%
|
|
|
12/15/25
|
|
|
|
6,010,000
|
|
|
|
6,041,252
|
(c)
|
Miami-Dade County, FL, Aviation Revenue
|
|
|
5.500
|
%
|
|
|
10/1/36
|
|
|
|
8,450,000
|
|
|
|
9,783,663
|
|
Miami-Dade County, FL, Aviation Revenue
|
|
|
5.500
|
%
|
|
|
10/1/41
|
|
|
|
26,100,000
|
|
|
|
29,495,610
|
|
Miami-Dade County, FL, Aviation Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Miami International Airport
|
|
|
5.000
|
%
|
|
|
10/1/29
|
|
|
|
20,000,000
|
|
|
|
23,101,400
|
|
Miami International Airport
|
|
|
5.375
|
%
|
|
|
10/1/41
|
|
|
|
13,000,000
|
|
|
|
15,137,850
|
|
Miami International Airport, NATL, FGIC
|
|
|
5.550
|
%
|
|
|
10/1/13
|
|
|
|
250,000
|
|
|
|
250,875
|
(c)
|
Miami-Dade County, FL, EFA Revenue, University of Miami
|
|
|
5.500
|
%
|
|
|
4/1/38
|
|
|
|
10,000,000
|
|
|
|
11,037,800
|
|
Miami-Dade County, FL, Expressway Authority Toll System Revenue
|
|
|
5.000
|
%
|
|
|
7/1/40
|
|
|
|
40,000,000
|
|
|
|
44,579,200
|
|
Miami-Dade County, FL, School Board, COP:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AGC
|
|
|
5.000
|
%
|
|
|
2/1/27
|
|
|
|
7,000,000
|
|
|
|
8,126,790
|
|
AGC
|
|
|
5.250
|
%
|
|
|
2/1/27
|
|
|
|
5,500,000
|
|
|
|
6,464,095
|
|
Miami-Dade County, FL, Stormwater, NATL
|
|
|
5.000
|
%
|
|
|
4/1/28
|
|
|
|
2,250,000
|
|
|
|
2,384,955
|
|
Orange County, FL, Health Facilities Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Orlando Health Inc.
|
|
|
5.375
|
%
|
|
|
10/1/23
|
|
|
|
6,500,000
|
|
|
|
7,576,530
|
|
Orlando Health Inc.
|
|
|
5.125
|
%
|
|
|
10/1/26
|
|
|
|
6,000,000
|
|
|
|
6,900,840
|
|
Orlando Regional Healthcare System, AGM
|
|
|
5.000
|
%
|
|
|
12/1/32
|
|
|
|
13,000,000
|
|
|
|
14,815,580
|
|
Orange County, FL, School Board, COP, AGC
|
|
|
5.500
|
%
|
|
|
8/1/34
|
|
|
|
5,400,000
|
|
|
|
6,325,992
|
|
Orange County, FL, Tourist Development Tax Revenue
|
|
|
5.000
|
%
|
|
|
10/1/24
|
|
|
|
32,780,000
|
|
|
|
39,994,550
|
|
Orange County, FL, Tourist Development Tax Revenue, Refunding, AMBAC
|
|
|
5.000
|
%
|
|
|
10/1/21
|
|
|
|
2,000,000
|
|
|
|
2,204,960
|
|
Orlando & Orange County, FL, Expressway Authority Revenue
|
|
|
5.000
|
%
|
|
|
7/1/22
|
|
|
|
1,750,000
|
|
|
|
2,207,013
|
|
Orlando & Orange County, FL, Expressway Authority Revenue
|
|
|
5.000
|
%
|
|
|
7/1/23
|
|
|
|
1,500,000
|
|
|
|
1,868,040
|
|
Orlando & Orange County, FL, Expressway Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AGM
|
|
|
5.000
|
%
|
|
|
7/1/24
|
|
|
|
5,000,000
|
|
|
|
6,226,800
|
|
AGM
|
|
|
5.000
|
%
|
|
|
7/1/25
|
|
|
|
3,500,000
|
|
|
|
4,321,275
|
|
AMBAC
|
|
|
5.000
|
%
|
|
|
7/1/35
|
|
|
|
4,500,000
|
|
|
|
4,622,670
|
|
Orlando, FL, State Sales Tax Payments Revenue
|
|
|
5.000
|
%
|
|
|
2/1/38
|
|
|
|
5,000,000
|
|
|
|
5,557,450
|
|
Palm Beach County, FL, Health Facilities Authority Revenue, John F. Kennedy Memorial Hospital Inc. Project
|
|
|
9.500
|
%
|
|
|
8/1/13
|
|
|
|
435,000
|
|
|
|
460,495
|
(a)
|
Palm Coast, FL, Utilities Systems Revenue, NATL
|
|
|
5.000
|
%
|
|
|
10/1/27
|
|
|
|
2,100,000
|
|
|
|
2,161,194
|
|
See
Notes to Schedule of Investments.
5
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Florida - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pasco County, FL, HFA, Housing Pasco Woods Apartments Project
|
|
|
5.700
|
%
|
|
|
8/1/19
|
|
|
$
|
360,000
|
|
|
$
|
360,364
|
(c)
|
Port St. Lucie, FL, South Lennard Special Assessment
|
|
|
7.125
|
%
|
|
|
9/1/21
|
|
|
|
835,000
|
|
|
|
835,835
|
|
Reunion, FL, East Community Development District, Special Assessment
|
|
|
7.375
|
%
|
|
|
5/1/33
|
|
|
|
5,955,000
|
|
|
|
4,908,604
|
(f)
|
Santa Rosa, FL, Bay Bridge Authority Revenue
|
|
|
6.250
|
%
|
|
|
7/1/28
|
|
|
|
1,085,000
|
|
|
|
430,745
|
(f)
|
Sarasota County, FL, Public Hospital Board Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Refunding, Sarasota Memorial Hospital, NATL
|
|
|
5.250
|
%
|
|
|
7/1/24
|
|
|
|
5,000,000
|
|
|
|
6,027,700
|
|
Refunding, Sarasota Memorial Hospital, NATL
|
|
|
5.500
|
%
|
|
|
7/1/28
|
|
|
|
3,485,000
|
|
|
|
4,228,176
|
|
Sarasota County, FL, Public Hospital District Revenue, Sarasota Memorial Hospital Project
|
|
|
5.625
|
%
|
|
|
7/1/39
|
|
|
|
8,500,000
|
|
|
|
9,546,775
|
|
Seminole Tribe Florida Special Obligation Revenue
|
|
|
5.250
|
%
|
|
|
10/1/27
|
|
|
|
4,400,000
|
|
|
|
4,716,536
|
(d)
|
Sunrise, FL, Utilities Systems Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AMBAC
|
|
|
5.200
|
%
|
|
|
10/1/22
|
|
|
|
1,295,000
|
|
|
|
1,602,342
|
(b)
|
AMBAC
|
|
|
5.200
|
%
|
|
|
10/1/22
|
|
|
|
1,705,000
|
|
|
|
1,993,196
|
|
Tampa, FL, Sports Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GTD Parking Tampa Bay Arena Project, NATL
|
|
|
6.050
|
%
|
|
|
10/1/20
|
|
|
|
500,000
|
|
|
|
565,500
|
|
GTD Parking Tampa Bay Arena Project, NATL
|
|
|
6.100
|
%
|
|
|
10/1/26
|
|
|
|
1,000,000
|
|
|
|
1,222,170
|
|
Tampa, FL, Water & Sewer Revenue
|
|
|
6.900
|
%
|
|
|
10/1/16
|
|
|
|
1,270,000
|
|
|
|
1,448,740
|
(a)
|
University of Central Florida, Athletics Association Inc., NATL, FGIC
|
|
|
5.250
|
%
|
|
|
10/1/34
|
|
|
|
1,000,000
|
|
|
|
1,019,410
|
|
Village Center Community Development District:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Florida Recreational Revenue, NATL
|
|
|
5.200
|
%
|
|
|
11/1/25
|
|
|
|
1,100,000
|
|
|
|
1,101,474
|
|
Utility Revenue, NATL
|
|
|
5.250
|
%
|
|
|
10/1/23
|
|
|
|
1,000,000
|
|
|
|
1,029,340
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Florida
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
530,841,825
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Georgia - 4.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acworth Housing Authority Revenue, Wingate Falls Apartments Project, LIQ-FHLMC
|
|
|
6.125
|
%
|
|
|
3/1/17
|
|
|
|
250,000
|
|
|
|
250,368
|
(c)
|
Association County Commissioners of Georgia Leasing Program COP, Unrefunded Balance, Public Purpose Project, AMBAC
|
|
|
5.625
|
%
|
|
|
7/1/20
|
|
|
|
335,000
|
|
|
|
336,055
|
|
Atlanta Development Authority Student Housing Revenue, ADA, CAU Partners Inc., ACA
|
|
|
6.250
|
%
|
|
|
7/1/24
|
|
|
|
1,000,000
|
|
|
|
740,000
|
|
Atlanta, GA, Airport Revenue
|
|
|
5.000
|
%
|
|
|
1/1/37
|
|
|
|
1,500,000
|
|
|
|
1,706,040
|
(c)
|
Atlanta, GA, Airport Revenue
|
|
|
5.000
|
%
|
|
|
1/1/42
|
|
|
|
8,000,000
|
|
|
|
9,051,920
|
(c)
|
Atlanta, GA, Water & Wastewater Revenue
|
|
|
6.250
|
%
|
|
|
11/1/34
|
|
|
|
50,000,000
|
|
|
|
63,567,500
|
|
Atlanta, GA, Water & Wastewater Revenue
|
|
|
6.250
|
%
|
|
|
11/1/39
|
|
|
|
22,100,000
|
|
|
|
27,788,540
|
|
Atlanta, GA, Water & Wastewater Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NATL
|
|
|
5.500
|
%
|
|
|
11/1/27
|
|
|
|
1,000,000
|
|
|
|
1,264,960
|
|
NATL, FGIC
|
|
|
5.500
|
%
|
|
|
11/1/19
|
|
|
|
1,000,000
|
|
|
|
1,276,520
|
|
Bulloch County, GA, Development Authority, Student Housing Lease Revenue, Georgia Southern University Project, AMBAC
|
|
|
5.000
|
%
|
|
|
8/1/22
|
|
|
|
1,000,000
|
|
|
|
1,002,840
|
|
Burke County, GA, Development Authority, PCR:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oglethorpe Power Corp.
|
|
|
7.000
|
%
|
|
|
1/1/23
|
|
|
|
5,000,000
|
|
|
|
6,028,450
|
|
Oglethorpe Power Corp. Vogtle Project
|
|
|
5.500
|
%
|
|
|
1/1/33
|
|
|
|
18,000,000
|
|
|
|
19,633,140
|
|
Oglethorpe Power Corp. Vogtle Project BHAC
|
|
|
5.700
|
%
|
|
|
1/1/43
|
|
|
|
16,285,000
|
|
|
|
18,437,388
|
|
Cobb-Marietta Counties, GA, Coliseum & Exhibit Hall Authority Revenue, NATL
|
|
|
5.625
|
%
|
|
|
10/1/26
|
|
|
|
1,000,000
|
|
|
|
1,174,220
|
|
DeKalb Private Hospital Authority Revenue, GA, Anticipation CTFS, Childrens Health Care of Atlanta Inc.
|
|
|
5.000
|
%
|
|
|
11/15/29
|
|
|
|
7,800,000
|
|
|
|
8,797,308
|
|
DeKalb, Newton & Gwinnett Counties, GA, Joint Development Authority Revenue, GGC Foundation LLC Project
|
|
|
6.125
|
%
|
|
|
7/1/40
|
|
|
|
20,000,000
|
|
|
|
23,455,000
|
|
Fulton County, GA, Water & Sewer Revenue, FGIC
|
|
|
6.375
|
%
|
|
|
1/1/14
|
|
|
|
65,000
|
|
|
|
67,122
|
(a)
|
See
Notes to Schedule of Investments.
6
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Georgia - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Georgia Municipal Electric Authority, Power Revenue, AMBAC
|
|
|
7.250
|
%
|
|
|
1/1/24
|
|
|
$
|
500,000
|
|
|
$
|
736,385
|
|
Georgia State Higher Education Facilities Authority Revenue, USG Real Estate Foundation II LLC Project
|
|
|
5.500
|
%
|
|
|
6/15/39
|
|
|
|
15,000,000
|
|
|
|
16,764,900
|
|
Lawrenceville Housing Authority, MFH Revenue, Knollwood Park Apartments Project, FNMA-Collateralized
|
|
|
6.250
|
%
|
|
|
6/1/15
|
|
|
|
895,000
|
|
|
|
897,604
|
(c)(g)
|
Main Street Natural Gas Inc., GA:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gas Project Revenue
|
|
|
5.000
|
%
|
|
|
3/15/18
|
|
|
|
6,485,000
|
|
|
|
7,364,107
|
|
Gas Project Revenue
|
|
|
5.000
|
%
|
|
|
3/15/22
|
|
|
|
5,000,000
|
|
|
|
5,581,150
|
|
Gas Project Revenue
|
|
|
5.500
|
%
|
|
|
9/15/26
|
|
|
|
10,000,000
|
|
|
|
12,469,800
|
|
Metropolitan Atlanta, GA, Rapid Transit Authority, Sales Tax Revenue, Refunding, AMBAC
|
|
|
6.250
|
%
|
|
|
7/1/20
|
|
|
|
250,000
|
|
|
|
291,225
|
|
Milledgeville, GA, Water & Sewer Revenue, AGM
|
|
|
6.000
|
%
|
|
|
12/1/21
|
|
|
|
500,000
|
|
|
|
618,360
|
|
Richmond County, GA, Development Authority, Environmental Improvement Revenue, International Paper Company Project
|
|
|
6.250
|
%
|
|
|
2/1/25
|
|
|
|
2,000,000
|
|
|
|
2,018,520
|
(c)
|
Savannah, GA, EDA, PCR, Union Camp Corp. Project
|
|
|
6.150
|
%
|
|
|
3/1/17
|
|
|
|
500,000
|
|
|
|
577,305
|
|
Thomasville, GA, Hospital Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Anticipation CTFS, John D. Archbold Memorial Hospital
|
|
|
5.125
|
%
|
|
|
11/1/30
|
|
|
|
3,500,000
|
|
|
|
3,917,935
|
|
Anticipation CTFS, John D. Archbold Memorial Hospital
|
|
|
5.250
|
%
|
|
|
11/1/35
|
|
|
|
1,000,000
|
|
|
|
1,117,720
|
|
Anticipation CTFS, John D. Archbold Memorial Hospital
|
|
|
5.375
|
%
|
|
|
11/1/40
|
|
|
|
2,250,000
|
|
|
|
2,529,158
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Georgia
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
239,461,540
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hawaii - 0.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Hawaii State Department of Budget & Finance, Hawaiian Electric Co. Inc., NATL
|
|
|
5.650
|
%
|
|
|
10/1/27
|
|
|
|
960,000
|
|
|
|
970,944
|
(c)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Illinois - 3.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chicago, IL, OHare International Airport Revenue
|
|
|
5.500
|
%
|
|
|
1/1/31
|
|
|
|
23,160,000
|
|
|
|
27,779,030
|
|
Chicago, IL, OHare International Airport Revenue
|
|
|
5.000
|
%
|
|
|
1/1/40
|
|
|
|
6,000,000
|
|
|
|
6,841,440
|
|
Chicago, IL, OHare International Airport Revenue, Refunding Bonds, Lien A-2, AGM
|
|
|
5.750
|
%
|
|
|
1/1/19
|
|
|
|
1,250,000
|
|
|
|
1,315,363
|
(c)
|
Illinois Finance Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Advocate Health Care & Hospitals Corp. Network
|
|
|
6.500
|
%
|
|
|
11/1/38
|
|
|
|
18,500,000
|
|
|
|
22,607,000
|
|
Edward Hospital, AMBAC
|
|
|
5.500
|
%
|
|
|
2/1/40
|
|
|
|
4,000,000
|
|
|
|
4,334,920
|
|
Illinois Rush University Medical Center
|
|
|
6.625
|
%
|
|
|
11/1/39
|
|
|
|
28,025,000
|
|
|
|
35,281,233
|
|
Little Co. of Mary Hospital and Health Care Centers
|
|
|
5.375
|
%
|
|
|
8/15/40
|
|
|
|
12,795,000
|
|
|
|
13,999,265
|
|
Memorial Health System
|
|
|
5.500
|
%
|
|
|
4/1/39
|
|
|
|
12,000,000
|
|
|
|
13,378,800
|
|
Park Place of Elmhurst
|
|
|
8.000
|
%
|
|
|
5/15/30
|
|
|
|
4,385,000
|
|
|
|
4,548,429
|
|
Illinois Finance Authority, Water Facility Revenue, American Water Capital Corp. Project
|
|
|
5.250
|
%
|
|
|
10/1/39
|
|
|
|
3,150,000
|
|
|
|
3,439,863
|
|
Illinois State COP, Department of Central Management Services, NATL
|
|
|
5.650
|
%
|
|
|
7/1/17
|
|
|
|
2,065,000
|
|
|
|
2,071,711
|
|
Metropolitan Pier & Exposition Authority, IL, Dedicated State Tax Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
McCormick Place, AGM
|
|
|
5.000
|
%
|
|
|
6/15/50
|
|
|
|
30,000,000
|
|
|
|
33,311,400
|
|
McCormick Project
|
|
|
5.250
|
%
|
|
|
6/15/50
|
|
|
|
10,305,000
|
|
|
|
11,686,076
|
|
Regional Transportation Authority, NATL, FGIC
|
|
|
7.750
|
%
|
|
|
6/1/20
|
|
|
|
1,045,000
|
|
|
|
1,295,403
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Illinois
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
181,889,933
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See
Notes to Schedule of Investments.
7
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Indiana - 1.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indiana Finance Authority Midwestern Disaster Relief Revenue, Ohio Valley Electric Corp. Project
|
|
|
5.000
|
%
|
|
|
6/1/39
|
|
|
$
|
9,000,000
|
|
|
$
|
9,690,030
|
|
Indiana Finance Authority, Wastewater Utility Revenue, CWA Authority
|
|
|
5.000
|
%
|
|
|
10/1/41
|
|
|
|
5,000,000
|
|
|
|
5,707,450
|
|
Indiana Municipal Power Agency Power Supply Systems Revenue
|
|
|
5.625
|
%
|
|
|
1/1/28
|
|
|
|
4,000,000
|
|
|
|
4,884,000
|
|
Indiana Municipal Power Agency Power Supply Systems Revenue
|
|
|
5.750
|
%
|
|
|
1/1/29
|
|
|
|
2,000,000
|
|
|
|
2,448,600
|
|
Indiana Municipal Power Agency Power Supply Systems Revenue
|
|
|
5.750
|
%
|
|
|
1/1/34
|
|
|
|
10,000,000
|
|
|
|
10,522,900
|
|
Indianapolis, IN, Gas Utility Revenue, AGC
|
|
|
5.250
|
%
|
|
|
8/15/26
|
|
|
|
9,290,000
|
|
|
|
10,696,320
|
|
Indianapolis, IN, Local Public Improvement Bond Bank
|
|
|
6.750
|
%
|
|
|
2/1/14
|
|
|
|
1,720,000
|
|
|
|
1,785,911
|
(a)
|
North Manchester, IN, Industrial Revenue, Peabody Retirement Community Project
|
|
|
7.125
|
%
|
|
|
7/1/22
|
|
|
|
2,000,000
|
|
|
|
640,000
|
(f)
|
Richmond, IN, Hospital Authority Revenue, Reid Hospital & Health Care Services Inc. Project
|
|
|
6.625
|
%
|
|
|
1/1/39
|
|
|
|
20,000,000
|
|
|
|
23,607,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Indiana
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
69,982,611
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kansas - 0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kansas State Development Finance Authority, Health Facilities Revenue, Hays Medical Center Inc.
|
|
|
5.000
|
%
|
|
|
5/15/35
|
|
|
|
4,000,000
|
|
|
|
4,394,240
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kentucky - 0.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kentucky Economic Development Finance Authority Hospital Facilities Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Baptist Healthcare Systems
|
|
|
5.375
|
%
|
|
|
8/15/24
|
|
|
|
4,000,000
|
|
|
|
4,641,240
|
|
Baptist Healthcare Systems
|
|
|
5.625
|
%
|
|
|
8/15/27
|
|
|
|
2,000,000
|
|
|
|
2,342,480
|
|
Kentucky Economic Development Finance Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Louisville Arena Project, AGC
|
|
|
6.000
|
%
|
|
|
12/1/33
|
|
|
|
9,000,000
|
|
|
|
10,109,970
|
|
Louisville Arena Project, AGC
|
|
|
6.000
|
%
|
|
|
12/1/38
|
|
|
|
5,000,000
|
|
|
|
5,561,250
|
|
Louisville & Jefferson County, KY, Metropolitan Government Health System Revenue, Norton Healthcare Inc.
|
|
|
5.250
|
%
|
|
|
10/1/36
|
|
|
|
13,450,000
|
|
|
|
14,240,053
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Kentucky
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
36,894,993
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Louisiana - 0.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Louisiana Local Government Environmental Facilities & CDA Revenue, Refunding Bonds, Sharlo Apartments, GNMA-Collateralized
|
|
|
6.500
|
%
|
|
|
6/20/37
|
|
|
|
1,000,000
|
|
|
|
1,051,030
|
|
Louisiana PFA, Hospital Revenue, Lafayette General Medical Center
|
|
|
5.500
|
%
|
|
|
11/1/40
|
|
|
|
18,000,000
|
|
|
|
20,007,540
|
|
Louisiana State Citizens Property Insurance Corp., Assessment Revenue, AGC
|
|
|
6.125
|
%
|
|
|
6/1/25
|
|
|
|
5,000,000
|
|
|
|
5,963,800
|
|
St. Charles Parish, LA, Gulf Zone Opportunity Zone Revenue, Valero Refining-New Orleans LLC
|
|
|
4.000
|
%
|
|
|
6/1/22
|
|
|
|
10,000,000
|
|
|
|
11,108,300
|
(g)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Louisiana
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
38,130,670
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maryland - 1.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maryland State Community Development Administration, Department of Housing & Community Development
|
|
|
5.250
|
%
|
|
|
9/1/35
|
|
|
|
12,660,000
|
|
|
|
13,819,909
|
|
Maryland State Community Development Administration, Department of Housing & Community Development
|
|
|
5.375
|
%
|
|
|
9/1/39
|
|
|
|
1,705,000
|
|
|
|
1,816,848
|
|
Maryland State EDC, EDR:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term Project
|
|
|
5.750
|
%
|
|
|
6/1/35
|
|
|
|
8,000,000
|
|
|
|
9,086,560
|
|
See
Notes to Schedule of Investments.
8
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Maryland - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transportation Facilities Project
|
|
|
5.375
|
%
|
|
|
6/1/25
|
|
|
$
|
7,500,000
|
|
|
$
|
8,594,775
|
|
Transportation Facilities Project
|
|
|
5.750
|
%
|
|
|
6/1/35
|
|
|
|
19,000,000
|
|
|
|
21,580,580
|
|
Maryland State Health & Higher EFA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Anne Arundel Health Systems
|
|
|
6.750
|
%
|
|
|
7/1/39
|
|
|
|
7,500,000
|
|
|
|
9,556,350
|
|
Lifebridge Health
|
|
|
6.000
|
%
|
|
|
7/1/41
|
|
|
|
1,500,000
|
|
|
|
1,784,175
|
|
The Johns Hopkins Hospital Issue
|
|
|
5.000
|
%
|
|
|
11/15/24
|
|
|
|
5,000,000
|
|
|
|
5,222,450
|
(b)
|
Maryland State Health & Higher EFA Revenue Bonds, University of Maryland Medical System
|
|
|
5.000
|
%
|
|
|
7/1/34
|
|
|
|
9,000,000
|
|
|
|
10,054,890
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Maryland
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
81,516,537
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Massachusetts - 2.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Massachusetts State Department of Transportation, Metropolitan Highway System Revenue
|
|
|
5.000
|
%
|
|
|
1/1/37
|
|
|
|
22,500,000
|
|
|
|
25,470,450
|
|
Massachusetts State DFA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Boston University
|
|
|
5.600
|
%
|
|
|
10/1/35
|
|
|
|
8,700,000
|
|
|
|
9,941,577
|
|
Boston University
|
|
|
5.700
|
%
|
|
|
10/1/40
|
|
|
|
13,105,000
|
|
|
|
14,977,180
|
|
Broad Institute Inc.
|
|
|
5.375
|
%
|
|
|
4/1/41
|
|
|
|
17,000,000
|
|
|
|
19,601,510
|
|
Visual & Performing Arts Project
|
|
|
6.000
|
%
|
|
|
8/1/21
|
|
|
|
2,200,000
|
|
|
|
2,733,962
|
|
Massachusetts State HEFA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Caregroup Inc.
|
|
|
5.000
|
%
|
|
|
7/1/28
|
|
|
|
2,000,000
|
|
|
|
2,203,800
|
|
Caregroup Inc., NATL
|
|
|
5.375
|
%
|
|
|
2/1/26
|
|
|
|
1,750,000
|
|
|
|
2,053,048
|
|
Caregroup Inc., NATL
|
|
|
5.375
|
%
|
|
|
2/1/27
|
|
|
|
1,000,000
|
|
|
|
1,153,570
|
|
Caregroup Inc., NATL
|
|
|
5.375
|
%
|
|
|
2/1/28
|
|
|
|
1,500,000
|
|
|
|
1,718,400
|
|
Suffolk University
|
|
|
5.750
|
%
|
|
|
7/1/39
|
|
|
|
17,500,000
|
|
|
|
20,092,100
|
|
Massachusetts State Housing Finance Agency, Housing Revenue, Single-Family Housing
|
|
|
5.350
|
%
|
|
|
12/1/33
|
|
|
|
7,455,000
|
|
|
|
8,041,783
|
|
Massachusetts State Housing Finance Agency Revenue
|
|
|
7.000
|
%
|
|
|
12/1/38
|
|
|
|
4,575,000
|
|
|
|
5,144,084
|
|
Massachusetts State IFA Revenue, Refunding Bonds, Chelsea Jewish Nursing Home, FHA
|
|
|
6.500
|
%
|
|
|
8/1/37
|
|
|
|
670,000
|
|
|
|
674,831
|
|
Massachusetts State, GO
|
|
|
0.610
|
%
|
|
|
2/1/16
|
|
|
|
13,000,000
|
|
|
|
13,030,680
|
(h)
|
Massachusetts State, GO:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Consolidated Loan
|
|
|
0.580
|
%
|
|
|
9/1/15
|
|
|
|
18,665,000
|
|
|
|
18,743,766
|
(h)
|
Consolidated Loan
|
|
|
0.650
|
%
|
|
|
9/1/16
|
|
|
|
4,000,000
|
|
|
|
4,016,560
|
(h)
|
Metropolitan Boston Transit Parking Corp. Systemwide Senior Lien Parking Revenue
|
|
|
5.000
|
%
|
|
|
7/1/41
|
|
|
|
17,500,000
|
|
|
|
19,719,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Massachusetts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
169,316,301
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michigan - 2.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Detroit, MI, Water Supply System Revenue
|
|
|
5.000
|
%
|
|
|
7/1/41
|
|
|
|
5,000,000
|
|
|
|
5,355,950
|
|
Detroit, MI, Water Supply System Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AGM
|
|
|
5.000
|
%
|
|
|
7/1/34
|
|
|
|
9,000,000
|
|
|
|
9,533,160
|
|
AGM
|
|
|
6.250
|
%
|
|
|
7/1/36
|
|
|
|
10,000,000
|
|
|
|
11,846,700
|
|
NATL
|
|
|
5.000
|
%
|
|
|
7/1/30
|
|
|
|
7,000,000
|
|
|
|
7,011,340
|
|
Michigan Finance Authority Revenue, Detroit School District
|
|
|
5.500
|
%
|
|
|
6/1/21
|
|
|
|
14,000,000
|
|
|
|
16,502,360
|
|
Michigan State Building Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Facilities Program
|
|
|
5.125
|
%
|
|
|
10/15/33
|
|
|
|
16,500,000
|
|
|
|
19,180,920
|
|
Facilities Program
|
|
|
6.000
|
%
|
|
|
10/15/38
|
|
|
|
20,500,000
|
|
|
|
24,143,670
|
|
Facilities Program
|
|
|
5.375
|
%
|
|
|
10/15/41
|
|
|
|
6,135,000
|
|
|
|
7,340,282
|
|
Facilities Program, NATL
|
|
|
5.000
|
%
|
|
|
10/15/29
|
|
|
|
1,500,000
|
|
|
|
1,539,240
|
|
Michigan State Hospital Finance Authority Revenue, McLaren Health Care Corp.
|
|
|
5.750
|
%
|
|
|
5/15/38
|
|
|
|
17,750,000
|
|
|
|
20,299,787
|
|
Michigan State Housing Development Authority, Rental Housing Revenue
|
|
|
5.375
|
%
|
|
|
10/1/29
|
|
|
|
1,660,000
|
|
|
|
1,782,408
|
|
Michigan State Housing Development Authority, Rental Housing Revenue
|
|
|
5.625
|
%
|
|
|
10/1/34
|
|
|
|
2,500,000
|
|
|
|
2,700,500
|
|
Michigan State Housing Development Authority, Rental Housing Revenue
|
|
|
5.700
|
%
|
|
|
10/1/39
|
|
|
|
3,115,000
|
|
|
|
3,348,937
|
|
See
Notes to Schedule of Investments.
9
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Michigan - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michigan State Strategic Fund Ltd. Obligation Revenue, Detroit Edison
|
|
|
5.500
|
%
|
|
|
8/1/16
|
|
|
$
|
4,000,000
|
|
|
$
|
4,639,800
|
(g)
|
Royal Oak, MI, Hospital Finance Authority Revenue, William Beaumont Hospital
|
|
|
8.250
|
%
|
|
|
9/1/39
|
|
|
|
24,000,000
|
|
|
|
31,273,920
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Michigan
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
166,498,974
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Minnesota - 0.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dakota County, MN, CDA, MFH Revenue, Southfork Apartments, LIQ-FNMA
|
|
|
5.625
|
%
|
|
|
2/1/26
|
|
|
|
2,500,000
|
|
|
|
2,501,575
|
|
Minneapolis, MN, Hospital Revenue, St. Marys Hospital & Rehabilitation
|
|
|
10.000
|
%
|
|
|
6/1/13
|
|
|
|
100,000
|
|
|
|
104,618
|
(a)
|
St. Paul, MN, Housing & Redevelopment Authority Health Care Revenue, Allina Health System
|
|
|
5.250
|
%
|
|
|
11/15/28
|
|
|
|
10,960,000
|
|
|
|
12,465,904
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Minnesota
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,072,097
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Mississippi - 0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lowndes County, MS, Solid Waste Disposal & PCR, Refunding Bonds, Weyerhouser Co. Project
|
|
|
6.800
|
%
|
|
|
4/1/22
|
|
|
|
3,000,000
|
|
|
|
3,483,180
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Missouri - 1.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Boone County, MO, Hospital Revenue, Boone Hospital Center
|
|
|
5.625
|
%
|
|
|
8/1/38
|
|
|
|
8,500,000
|
|
|
|
9,502,320
|
|
Kansas City, MO, IDA Revenue, AMBAC
|
|
|
5.000
|
%
|
|
|
12/1/17
|
|
|
|
2,105,000
|
|
|
|
2,440,285
|
|
Missouri Joint Municipal Electric Utility Commission Power Project Revenue, Iatan Second Project
|
|
|
5.750
|
%
|
|
|
1/1/29
|
|
|
|
5,000,000
|
|
|
|
5,500,950
|
|
Missouri State Development Finance Board Infrastructure Facilities Revenue, Independence Events Center
|
|
|
6.250
|
%
|
|
|
4/1/38
|
|
|
|
7,000,000
|
|
|
|
7,321,230
|
(b)
|
Missouri State HEFA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Childrens Mercy Hospital
|
|
|
5.625
|
%
|
|
|
5/15/39
|
|
|
|
30,000,000
|
|
|
|
33,870,300
|
|
Lake Regional Health System Project
|
|
|
5.600
|
%
|
|
|
2/15/25
|
|
|
|
2,000,000
|
|
|
|
2,053,580
|
|
North Kansas City, MO, Hospital Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North Kansas City Hospital, AGM
|
|
|
5.000
|
%
|
|
|
11/15/23
|
|
|
|
1,000,000
|
|
|
|
1,015,290
|
|
North Kansas City Hospital, AGM
|
|
|
5.000
|
%
|
|
|
11/15/24
|
|
|
|
900,000
|
|
|
|
913,257
|
|
Platte County, MO, IDA Revenue, Refunding & Improvement Zona Rosa Retail Project
|
|
|
5.000
|
%
|
|
|
12/1/32
|
|
|
|
10,345,000
|
|
|
|
11,602,538
|
|
Springfield, MO, Public Building Corp. Leasehold Revenue, Capital Improvement Program, AMBAC
|
|
|
5.000
|
%
|
|
|
3/1/24
|
|
|
|
1,500,000
|
|
|
|
1,549,410
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Missouri
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
75,769,160
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Montana - 0.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Montana State Board of Investment, Resource Recovery Revenue, Yellowstone Energy LP Project
|
|
|
7.000
|
%
|
|
|
12/31/19
|
|
|
|
25,680,000
|
|
|
|
25,713,384
|
(c)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nebraska - 0.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Central Plains Energy Project, NE, Gas Project Revenue, Project No. 3
|
|
|
5.250
|
%
|
|
|
9/1/37
|
|
|
|
20,000,000
|
|
|
|
22,619,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nevada - 0.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Reno, NV, Hospital Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Washoe Medical Center, AGM
|
|
|
5.500
|
%
|
|
|
6/1/39
|
|
|
|
19,350,000
|
|
|
|
21,025,710
|
|
Washoe Medical Center, AGM
|
|
|
5.250
|
%
|
|
|
6/1/40
|
|
|
|
7,500,000
|
|
|
|
8,034,150
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Nevada
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
29,059,860
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Hampshire - 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Hampshire State HFA, Single-Family Mortgage Revenue
|
|
|
5.550
|
%
|
|
|
7/1/33
|
|
|
|
4,680,000
|
|
|
|
5,083,697
|
|
See
Notes to Schedule of Investments.
10
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
New Hampshire - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Hampshire State HFA, Single-Family Mortgage Revenue
|
|
|
5.600
|
%
|
|
|
1/1/38
|
|
|
$
|
3,955,000
|
|
|
$
|
4,271,044
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total New Hampshire
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,354,741
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Jersey - 5.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Essex County, NJ, Improvement Authority Revenue, Refunding, Hampton Valley Apartments, NATL, FHA
|
|
|
5.650
|
%
|
|
|
1/1/15
|
|
|
|
195,000
|
|
|
|
195,101
|
|
New Jersey EDA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
School Facilities Construction
|
|
|
5.000
|
%
|
|
|
12/15/27
|
|
|
|
9,230,000
|
|
|
|
10,848,665
|
|
School Facilities Construction
|
|
|
5.250
|
%
|
|
|
12/15/33
|
|
|
|
12,500,000
|
|
|
|
14,517,625
|
|
New Jersey EDA, Water Facilities Revenue, New Jersey American Water Co.
|
|
|
5.600
|
%
|
|
|
11/1/34
|
|
|
|
11,250,000
|
|
|
|
13,170,937
|
(c)
|
New Jersey Health Care Facilities Financing Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AHS Hospital Corp.
|
|
|
6.000
|
%
|
|
|
7/1/41
|
|
|
|
8,500,000
|
|
|
|
10,737,540
|
|
Catholic Health East
|
|
|
4.750
|
%
|
|
|
11/15/29
|
|
|
|
5,000,000
|
|
|
|
5,558,300
|
|
New Jersey State EDA Revenue
|
|
|
5.000
|
%
|
|
|
6/15/21
|
|
|
|
7,500,000
|
|
|
|
8,912,925
|
|
New Jersey State EDA Revenue
|
|
|
5.000
|
%
|
|
|
6/15/25
|
|
|
|
4,545,000
|
|
|
|
5,297,516
|
|
New Jersey State EDA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continental Airlines Inc. Project
|
|
|
4.875
|
%
|
|
|
9/15/19
|
|
|
|
28,000,000
|
|
|
|
28,886,200
|
(c)
|
Refunding
|
|
|
6.875
|
%
|
|
|
1/1/37
|
|
|
|
13,110,000
|
|
|
|
13,320,415
|
(c)
|
Refunding, Gloucester Marine Project
|
|
|
6.625
|
%
|
|
|
1/1/37
|
|
|
|
10,000,000
|
|
|
|
10,287,900
|
|
New Jersey State EDA, Motor Vehicle Revenue, Motor Vehicle Surcharges, NATL
|
|
|
5.250
|
%
|
|
|
7/1/31
|
|
|
|
1,000,000
|
|
|
|
1,068,240
|
|
New Jersey State EDA, Special Facility Revenue, Continental Airlines Inc. Project
|
|
|
7.000
|
%
|
|
|
11/15/30
|
|
|
|
11,030,000
|
|
|
|
11,046,545
|
(c)
|
New Jersey State EFA Revenue, Richard Stockton College
|
|
|
5.375
|
%
|
|
|
7/1/38
|
|
|
|
5,000,000
|
|
|
|
5,640,650
|
|
New Jersey State Higher Education Assistance Authority, Student Loan Revenue
|
|
|
5.375
|
%
|
|
|
6/1/24
|
|
|
|
10,430,000
|
|
|
|
11,920,343
|
|
New Jersey State Higher Education Assistance Authority, Student Loan Revenue
|
|
|
5.500
|
%
|
|
|
6/1/27
|
|
|
|
25,905,000
|
|
|
|
29,582,992
|
|
New Jersey State Higher Education Assistance Authority, Student Loan Revenue
|
|
|
5.625
|
%
|
|
|
6/1/30
|
|
|
|
5,000,000
|
|
|
|
5,689,700
|
|
New Jersey State Higher Education Assistance Authority, Student Loan Revenue, AGC
|
|
|
6.125
|
%
|
|
|
6/1/30
|
|
|
|
54,000,000
|
|
|
|
60,707,340
|
(c)
|
New Jersey State Housing & Mortgage Finance Agency Revenue
|
|
|
6.500
|
%
|
|
|
10/1/38
|
|
|
|
9,660,000
|
|
|
|
10,423,720
|
|
New Jersey State Transportation Trust Fund Authority:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Transportation System
|
|
|
0.000
|
%
|
|
|
12/15/36
|
|
|
|
45,555,000
|
|
|
|
15,274,136
|
|
Transportation System
|
|
|
5.875
|
%
|
|
|
12/15/38
|
|
|
|
30,000,000
|
|
|
|
36,229,500
|
|
New Jersey State Turnpike Authority Revenue
|
|
|
5.000
|
%
|
|
|
1/1/36
|
|
|
|
8,000,000
|
|
|
|
9,207,680
|
|
New Jersey State Turnpike Authority Revenue
|
|
|
5.250
|
%
|
|
|
1/1/40
|
|
|
|
3,515,000
|
|
|
|
4,069,245
|
|
South Jersey Port Corp. New Jersey Revenue, Refunding
|
|
|
5.000
|
%
|
|
|
1/1/23
|
|
|
|
2,200,000
|
|
|
|
2,207,612
|
(b)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total New Jersey
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
324,800,827
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Mexico - 0.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Mexico Mortgage Finance Authority:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Single-Family Mortgage, GNMA, FNMA, FHLMC
|
|
|
5.450
|
%
|
|
|
3/1/36
|
|
|
|
3,605,000
|
|
|
|
3,789,504
|
|
Single-Family Mortgage, GNMA, FNMA, FHLMC
|
|
|
5.850
|
%
|
|
|
7/1/39
|
|
|
|
2,610,000
|
|
|
|
2,782,991
|
(c)
|
New Mexico State Hospital Equipment Loan Council Hospital Revenue, Presbyterian Healthcare Services
|
|
|
6.375
|
%
|
|
|
8/1/32
|
|
|
|
15,000,000
|
|
|
|
18,429,150
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total New Mexico
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,001,645
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See
Notes to Schedule of Investments.
11
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
New York - 5.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Brooklyn Arena, NY, Local Development Corp., Barclays Center Project
|
|
|
6.250
|
%
|
|
|
7/15/40
|
|
|
$
|
25,800,000
|
|
|
$
|
30,319,902
|
|
Hudson, NY, Yards Infrastructure Corp. Revenue
|
|
|
5.750
|
%
|
|
|
2/15/47
|
|
|
|
20,000,000
|
|
|
|
24,178,600
|
|
Liberty, NY, Development Corporation Revenue, Goldman Sachs Headquarters
|
|
|
5.500
|
%
|
|
|
10/1/37
|
|
|
|
3,000,000
|
|
|
|
3,889,200
|
|
Long Island Power Authority, NY, Electric System Revenue
|
|
|
6.000
|
%
|
|
|
5/1/33
|
|
|
|
22,000,000
|
|
|
|
27,400,340
|
|
MTA, NY, Revenue
|
|
|
6.500
|
%
|
|
|
11/15/28
|
|
|
|
10,000,000
|
|
|
|
12,925,600
|
|
MTA, NY, Revenue
|
|
|
5.000
|
%
|
|
|
11/15/34
|
|
|
|
10,000,000
|
|
|
|
11,457,500
|
|
MTA, NY, Revenue
|
|
|
5.250
|
%
|
|
|
11/15/40
|
|
|
|
21,500,000
|
|
|
|
24,896,570
|
|
New York City, NY, HDC, MFH Revenue
|
|
|
4.900
|
%
|
|
|
11/1/34
|
|
|
|
5,695,000
|
|
|
|
6,131,863
|
|
New York City, NY, HDC, MFH Revenue, GNMA-Collateralized, FHA
|
|
|
5.100
|
%
|
|
|
11/1/24
|
|
|
|
5,000,000
|
|
|
|
5,264,450
|
|
New York City, NY, Health & Hospital Corp. Revenue, Health Systems
|
|
|
5.500
|
%
|
|
|
2/15/23
|
|
|
|
4,000,000
|
|
|
|
4,672,280
|
|
New York City, NY, Municipal Water Finance Authority, Water & Sewer Systems Revenue
|
|
|
5.000
|
%
|
|
|
6/15/45
|
|
|
|
5,500,000
|
|
|
|
6,449,740
|
|
New York City, NY, TFA, Building Aid Revenue
|
|
|
5.000
|
%
|
|
|
1/15/31
|
|
|
|
6,000,000
|
|
|
|
6,959,340
|
|
New York City, NY, TFA, Building Aid Revenue
|
|
|
5.125
|
%
|
|
|
1/15/33
|
|
|
|
6,000,000
|
|
|
|
6,961,020
|
|
New York Liberty Development Corp., Liberty Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1 WTC Port Authority Constructions
|
|
|
5.000
|
%
|
|
|
12/15/41
|
|
|
|
10,000,000
|
|
|
|
11,692,000
|
|
4 World Trade Center LLC Project
|
|
|
5.750
|
%
|
|
|
11/15/51
|
|
|
|
5,000,000
|
|
|
|
6,137,650
|
|
Second Priority, Bank of America Tower
|
|
|
5.125
|
%
|
|
|
1/15/44
|
|
|
|
24,650,000
|
|
|
|
27,829,604
|
|
New York State Dormitory Authority Revenue, Non-State Supported Debt, New School University
|
|
|
5.500
|
%
|
|
|
7/1/40
|
|
|
|
35,000,000
|
|
|
|
41,016,150
|
|
New York State Dormitory Authority, State Personal Income Tax Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General Purpose
|
|
|
5.000
|
%
|
|
|
2/15/40
|
|
|
|
15,000,000
|
|
|
|
17,724,900
|
|
General Purpose
|
|
|
5.000
|
%
|
|
|
2/15/42
|
|
|
|
10,000,000
|
|
|
|
11,798,800
|
|
New York State Liberty Development Corp., Liberty Revenue, 4 World Trade Center LLC Project
|
|
|
5.000
|
%
|
|
|
11/15/44
|
|
|
|
10,000,000
|
|
|
|
11,541,700
|
|
New York, NY, GO
|
|
|
5.000
|
%
|
|
|
8/1/22
|
|
|
|
10,000,000
|
|
|
|
12,814,100
|
(i)
|
Orange County, NY, IDA, Civic Facilities Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Arden Hill Life Care Center Project
|
|
|
7.000
|
%
|
|
|
8/1/21
|
|
|
|
930,000
|
|
|
|
932,827
|
|
Arden Hill Life Care Center Project
|
|
|
7.000
|
%
|
|
|
8/1/31
|
|
|
|
1,000,000
|
|
|
|
1,000,250
|
|
Port Authority of New York & New Jersey, Special Obligation Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5th Installment, Special Project
|
|
|
6.750
|
%
|
|
|
10/1/19
|
|
|
|
1,125,000
|
|
|
|
1,125,169
|
(c)
|
JFK International Air Terminal LLC
|
|
|
6.000
|
%
|
|
|
12/1/36
|
|
|
|
8,000,000
|
|
|
|
9,481,280
|
|
JFK International Air Terminal LLC
|
|
|
6.000
|
%
|
|
|
12/1/42
|
|
|
|
15,000,000
|
|
|
|
17,777,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total New York
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
342,378,235
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North Carolina - 1.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charlotte, NC, Governmental Facilities Projects:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
COP
|
|
|
5.250
|
%
|
|
|
6/1/23
|
|
|
|
3,500,000
|
|
|
|
3,580,185
|
|
COP
|
|
|
5.000
|
%
|
|
|
6/1/24
|
|
|
|
3,000,000
|
|
|
|
3,064,350
|
|
Charlotte-Mecklenburg Hospital Authority, NC, Health Care System Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Carolinas Healthcare System
|
|
|
5.250
|
%
|
|
|
1/15/34
|
|
|
|
13,400,000
|
|
|
|
15,127,528
|
|
Carolinas Healthcare System
|
|
|
5.125
|
%
|
|
|
1/15/37
|
|
|
|
2,000,000
|
|
|
|
2,299,260
|
|
Carolinas Healthcare System
|
|
|
5.250
|
%
|
|
|
1/15/39
|
|
|
|
22,000,000
|
|
|
|
24,836,240
|
|
Carolinas Healthcare System
|
|
|
5.250
|
%
|
|
|
1/15/42
|
|
|
|
5,000,000
|
|
|
|
5,773,350
|
|
Monroe, NC, COP, AGC
|
|
|
5.500
|
%
|
|
|
3/1/39
|
|
|
|
1,000,000
|
|
|
|
1,146,130
|
|
North Carolina Eastern Municipal Power Agency, Power System Revenue
|
|
|
6.000
|
%
|
|
|
1/1/26
|
|
|
|
1,310,000
|
|
|
|
1,819,000
|
(b)
|
North Carolina Turnpike Authority, Triangle Expressway System Revenue, AGC
|
|
|
5.750
|
%
|
|
|
1/1/39
|
|
|
|
9,000,000
|
|
|
|
10,407,600
|
|
See
Notes to Schedule of Investments.
12
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
North Carolina - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Raleigh Durham, NC, Airport Authority Revenue
|
|
|
5.000
|
%
|
|
|
5/1/32
|
|
|
$
|
4,500,000
|
|
|
$
|
5,343,120
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total North Carolina
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
73,396,763
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North Dakota - 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
McLean County, ND, Solid Waste Facilities Revenue, Great River Energy
|
|
|
5.150
|
%
|
|
|
7/1/40
|
|
|
|
10,000,000
|
|
|
|
11,159,400
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ohio - 0.8%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cleveland, OH, State University, NATL, FGIC
|
|
|
5.000
|
%
|
|
|
6/1/19
|
|
|
|
1,210,000
|
|
|
|
1,367,324
|
|
Cuyahoga County, OH, Hospital Facilities Revenue, Canton Inc. Project
|
|
|
7.500
|
%
|
|
|
1/1/30
|
|
|
|
2,855,000
|
|
|
|
2,859,682
|
|
Erie County, OH, Garbage Refuse Landfill Improvement, AGM
|
|
|
5.250
|
%
|
|
|
12/1/24
|
|
|
|
3,290,000
|
|
|
|
3,530,203
|
(b)
|
Greater Cincinnati, OH, Elderly HDC Mortgage Revenue, Cambridge Apartments, FHA
|
|
|
6.600
|
%
|
|
|
8/1/25
|
|
|
|
725,000
|
|
|
|
726,203
|
|
Hamilton County, OH, Hospital Facilities Revenue, Cincinnati Childrens Hospital, NATL, FGIC
|
|
|
5.000
|
%
|
|
|
5/15/24
|
|
|
|
2,515,000
|
|
|
|
2,597,090
|
|
Lucas County, OH, Hospital Revenue, Promedica Healthcare
|
|
|
6.000
|
%
|
|
|
11/15/41
|
|
|
|
5,000,000
|
|
|
|
6,186,700
|
|
Montgomery County, OH, Administration Building Revenue, Catholic Health Initiatives
|
|
|
6.250
|
%
|
|
|
10/1/33
|
|
|
|
1,400,000
|
|
|
|
1,717,660
|
|
Ohio State Air Quality Development Authority Revenue, FirstEnergy Nuclear Generation Corp.
|
|
|
5.750
|
%
|
|
|
6/1/16
|
|
|
|
10,500,000
|
|
|
|
11,775,225
|
(g)
|
Ohio State Housing Finance Agency, Residential Mortgage Revenue, Mortgage-Backed Securities Program, GNMA, FNMA, FHLMC-Collateralized
|
|
|
5.400
|
%
|
|
|
9/1/33
|
|
|
|
1,110,000
|
|
|
|
1,213,297
|
|
Ohio State Water Development Authority, Pollution Control Facilities Revenue, FirstEnergy Nuclear Generation Corp.
|
|
|
3.375
|
%
|
|
|
7/1/15
|
|
|
|
17,000,000
|
|
|
|
17,591,770
|
(g)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Ohio
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
49,565,154
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oklahoma - 0.6%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oklahoma State Development Finance Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
St. John Health System Inc.
|
|
|
5.000
|
%
|
|
|
2/15/25
|
|
|
|
6,295,000
|
|
|
|
7,388,253
|
|
St. John Health System Inc.
|
|
|
5.000
|
%
|
|
|
2/15/26
|
|
|
|
6,620,000
|
|
|
|
7,734,675
|
|
St. John Health System Inc.
|
|
|
5.000
|
%
|
|
|
2/15/27
|
|
|
|
5,000,000
|
|
|
|
5,819,950
|
|
St. John Health System Inc.
|
|
|
5.000
|
%
|
|
|
2/15/42
|
|
|
|
10,000,000
|
|
|
|
11,363,800
|
|
Oklahoma State Municipal Power Authority, Power Supply System Revenue
|
|
|
6.000
|
%
|
|
|
1/1/38
|
|
|
|
3,000,000
|
|
|
|
3,440,220
|
|
Pottawatomie County, OK, Development Authority Water Revenue, North Dear Creek Reservoir Project, AMBAC
|
|
|
5.000
|
%
|
|
|
7/1/23
|
|
|
|
1,500,000
|
|
|
|
1,527,270
|
|
Tulsa, OK, PFA, Lease Payment Revenue, Refunding Bonds, Assembly Center
|
|
|
6.600
|
%
|
|
|
7/1/14
|
|
|
|
1,305,000
|
|
|
|
1,380,651
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Oklahoma
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
38,654,819
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oregon - 0.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Klamath Falls, OR, Inter Community Hospital Authority Revenue, Unrefunded Balance, Merle West Medical Center
|
|
|
6.250
|
%
|
|
|
9/1/31
|
|
|
|
375,000
|
|
|
|
380,381
|
|
Multnomah County, OR, Hospital Facilities Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Providence Health Systems
|
|
|
5.250
|
%
|
|
|
10/1/16
|
|
|
|
1,000,000
|
|
|
|
1,083,570
|
|
Providence Health Systems
|
|
|
5.250
|
%
|
|
|
10/1/20
|
|
|
|
1,000,000
|
|
|
|
1,080,520
|
|
Oregon Health & Sciences University Revenue
|
|
|
5.750
|
%
|
|
|
7/1/39
|
|
|
|
17,100,000
|
|
|
|
20,209,977
|
|
Oregon State Department of Administrative Services, COP
|
|
|
5.250
|
%
|
|
|
5/1/39
|
|
|
|
1,900,000
|
|
|
|
2,154,505
|
|
Oregon State Facilities Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Legacy Health System Project
|
|
|
5.250
|
%
|
|
|
5/1/21
|
|
|
|
5,000,000
|
|
|
|
6,164,400
|
|
See
Notes to Schedule of Investments.
13
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Oregon - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Samaritan Health Services
|
|
|
5.250
|
%
|
|
|
10/1/40
|
|
|
$
|
20,000,000
|
|
|
$
|
22,405,000
|
|
Port of Umatilla, OR, GO, Water Revenue, LOC-Bank of America N.A.
|
|
|
6.650
|
%
|
|
|
8/1/22
|
|
|
|
705,000
|
|
|
|
707,841
|
(c)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Oregon
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
54,186,194
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania - 3.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allegheny County, PA, IDA Revenue, U.S. Steel Corp. Project
|
|
|
6.750
|
%
|
|
|
12/1/27
|
|
|
|
8,800,000
|
|
|
|
9,736,232
|
|
Bucks County, PA, IDA Revenue, U.S. Steel Corp. Project
|
|
|
6.750
|
%
|
|
|
6/1/26
|
|
|
|
15,000,000
|
|
|
|
16,629,750
|
|
Dauphin County, PA, General Authority Revenue, Office & Parking, Riverfront Office Center Project
|
|
|
6.000
|
%
|
|
|
1/1/25
|
|
|
|
1,315,000
|
|
|
|
1,318,445
|
|
Dauphin County, PA, IDA, Dauphin Consolidated Water Supply Co.
|
|
|
6.900
|
%
|
|
|
6/1/24
|
|
|
|
2,400,000
|
|
|
|
3,097,800
|
(c)
|
Delaware River Port Authority of Pennsylvania & New Jersey Revenue
|
|
|
5.000
|
%
|
|
|
1/1/35
|
|
|
|
14,015,000
|
|
|
|
15,874,790
|
|
Lackawanna County, PA, GO, AGC
|
|
|
6.000
|
%
|
|
|
9/15/34
|
|
|
|
4,000,000
|
|
|
|
4,588,120
|
|
Luzerne County, PA, IDA, Water Facility Revenue, American Water Co.
|
|
|
5.500
|
%
|
|
|
12/1/39
|
|
|
|
12,000,000
|
|
|
|
13,675,920
|
|
Montgomery County, PA, Higher Education & Health Authority, Hospital Revenue, Abington Memorial Hospital
|
|
|
5.125
|
%
|
|
|
6/1/33
|
|
|
|
5,000,000
|
|
|
|
5,556,850
|
|
Montgomery County, PA, IDA Revenue, New Regional Medical Center Project, FHA
|
|
|
5.750
|
%
|
|
|
8/1/30
|
|
|
|
4,025,000
|
|
|
|
4,571,394
|
|
New Morgan, PA, Municipal Authority Office Revenue, Commonwealth Office Project
|
|
|
6.500
|
%
|
|
|
6/1/25
|
|
|
|
1,000,000
|
|
|
|
1,000,250
|
|
Pennsylvania Economic Development Financing Authority, Exempt Facilities Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
PPL Energy Supply LLC Project
|
|
|
3.000
|
%
|
|
|
9/1/15
|
|
|
|
15,000,000
|
|
|
|
15,650,700
|
(g)
|
Shipping Port
|
|
|
3.375
|
%
|
|
|
7/1/15
|
|
|
|
20,000,000
|
|
|
|
20,696,200
|
(g)
|
Pennsylvania Economic Development Financing Authority, Water Facility Revenue, American Water Co. Project
|
|
|
6.200
|
%
|
|
|
4/1/39
|
|
|
|
6,000,000
|
|
|
|
7,166,580
|
|
Pennsylvania State Higher EFA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Drexel University
|
|
|
5.125
|
%
|
|
|
5/1/36
|
|
|
|
10,300,000
|
|
|
|
11,685,865
|
|
Drexel University
|
|
|
5.250
|
%
|
|
|
5/1/41
|
|
|
|
8,385,000
|
|
|
|
9,530,307
|
|
La Salle University
|
|
|
5.000
|
%
|
|
|
5/1/42
|
|
|
|
3,000,000
|
|
|
|
3,376,530
|
|
Student Association Inc. Project
|
|
|
6.750
|
%
|
|
|
9/1/32
|
|
|
|
985,000
|
|
|
|
986,517
|
|
Thomas Jefferson University
|
|
|
5.000
|
%
|
|
|
3/1/40
|
|
|
|
5,710,000
|
|
|
|
6,443,906
|
|
University of Pennsylvania Health Systems Revenue
|
|
|
5.000
|
%
|
|
|
8/15/24
|
|
|
|
1,000,000
|
|
|
|
1,210,760
|
|
University of Pennsylvania Health Systems Revenue
|
|
|
5.250
|
%
|
|
|
8/15/25
|
|
|
|
1,750,000
|
|
|
|
2,160,865
|
|
University of Pennsylvania Health Systems Revenue
|
|
|
5.750
|
%
|
|
|
8/15/41
|
|
|
|
2,000,000
|
|
|
|
2,402,800
|
|
Pennsylvania State Public School Building Authority Lease Revenue, Philadelphia School District Project, AGM
|
|
|
5.000
|
%
|
|
|
6/1/29
|
|
|
|
20,045,000
|
|
|
|
24,727,312
|
|
Pennsylvania State Turnpike Commission Revenue
|
|
|
5.250
|
%
|
|
|
6/1/36
|
|
|
|
3,000,000
|
|
|
|
3,358,590
|
|
Pennsylvania State, Public School Building Authority, Community College Revenue, Community College of Philadelphia Project
|
|
|
6.000
|
%
|
|
|
6/15/28
|
|
|
|
7,000,000
|
|
|
|
8,124,900
|
|
Philadelphia, PA, Hospitals & Higher EFA, Hospital Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Presbyterian Medical Center
|
|
|
6.650
|
%
|
|
|
12/1/19
|
|
|
|
925,000
|
|
|
|
1,108,428
|
(a)
|
Temple University Health System
|
|
|
5.625
|
%
|
|
|
7/1/42
|
|
|
|
5,000,000
|
|
|
|
5,527,600
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Pennsylvania
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
200,207,411
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See
Notes to Schedule of Investments.
14
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Puerto Rico - 4.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Puerto Rico Commonwealth Aqueduct & Sewer Authority Revenue
|
|
|
5.250
|
%
|
|
|
7/1/29
|
|
|
$
|
18,130,000
|
|
|
$
|
19,220,882
|
|
Puerto Rico Commonwealth Aqueduct & Sewer Authority Revenue
|
|
|
5.000
|
%
|
|
|
7/1/33
|
|
|
|
10,000,000
|
|
|
|
10,105,800
|
|
Puerto Rico Commonwealth Aqueduct & Sewer Authority Revenue
|
|
|
5.125
|
%
|
|
|
7/1/37
|
|
|
|
15,000,000
|
|
|
|
15,231,900
|
|
Puerto Rico Commonwealth Aqueduct & Sewer Authority Revenue
|
|
|
5.250
|
%
|
|
|
7/1/42
|
|
|
|
10,000,000
|
|
|
|
10,218,500
|
|
Puerto Rico Commonwealth, GO, Public Improvement
|
|
|
5.500
|
%
|
|
|
7/1/26
|
|
|
|
19,255,000
|
|
|
|
20,910,160
|
|
Puerto Rico Electric Power Authority, Power Revenue
|
|
|
5.250
|
%
|
|
|
7/1/40
|
|
|
|
15,000,000
|
|
|
|
15,520,050
|
|
Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Control Facilities Financing Authority Revenue, Ana G. Mendez
University System Project
|
|
|
5.375
|
%
|
|
|
4/1/42
|
|
|
|
1,500,000
|
|
|
|
1,556,115
|
|
Puerto Rico Port Authority Revenue, Special Facilities, American Airlines Inc.
|
|
|
6.250
|
%
|
|
|
6/1/26
|
|
|
|
200,000
|
|
|
|
156,000
|
(c)(f)
|
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue
|
|
|
5.500
|
%
|
|
|
8/1/37
|
|
|
|
10,000,000
|
|
|
|
11,009,800
|
|
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue
|
|
|
5.375
|
%
|
|
|
8/1/39
|
|
|
|
74,500,000
|
|
|
|
81,105,915
|
|
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue
|
|
|
5.000
|
%
|
|
|
8/1/40
|
|
|
|
8,000,000
|
|
|
|
8,857,600
|
|
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue
|
|
|
5.250
|
%
|
|
|
8/1/40
|
|
|
|
25,000,000
|
|
|
|
28,142,250
|
|
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue
|
|
|
5.500
|
%
|
|
|
8/1/42
|
|
|
|
16,500,000
|
|
|
|
17,844,750
|
|
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue
|
|
|
5.000
|
%
|
|
|
8/1/43
|
|
|
|
15,000,000
|
|
|
|
15,895,950
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Puerto Rico
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
255,775,672
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rhode Island - 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Providence, RI, RDA Revenue, Refunding Bonds, Public Safety Building Project, AMBAC
|
|
|
5.000
|
%
|
|
|
4/1/24
|
|
|
|
3,270,000
|
|
|
|
3,330,757
|
|
Rhode Island State Health & Educational Building Corp., Revenue, Hospital Financing
|
|
|
7.000
|
%
|
|
|
5/15/39
|
|
|
|
5,460,000
|
|
|
|
6,433,190
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Rhode Island
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,763,947
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
South Carolina - 0.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Piedmont, SC, Municipal Power Agency, Electric Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Refunding Bonds, FGIC
|
|
|
6.750
|
%
|
|
|
1/1/20
|
|
|
|
565,000
|
|
|
|
782,553
|
(a)
|
Unrefunded Balance, NATL, FGIC
|
|
|
6.750
|
%
|
|
|
1/1/20
|
|
|
|
670,000
|
|
|
|
884,601
|
|
South Carolina Jobs, EDA, Hospital Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Palmetto Health, AGM
|
|
|
6.500
|
%
|
|
|
8/1/39
|
|
|
|
3,500,000
|
|
|
|
4,385,080
|
|
Refunding & Improvement, AnMed Health Project, AGC
|
|
|
5.500
|
%
|
|
|
2/1/38
|
|
|
|
4,250,000
|
|
|
|
4,830,167
|
|
South Carolina Jobs, EDA, Revenue, Myrtle Beach Convention Center Hotel Project, NATL
|
|
|
5.250
|
%
|
|
|
4/1/26
|
|
|
|
2,470,000
|
|
|
|
2,471,729
|
|
South Carolina State Ports Authority Revenue
|
|
|
5.250
|
%
|
|
|
7/1/40
|
|
|
|
10,000,000
|
|
|
|
11,455,400
|
|
South Carolina Transportation Infrastructure Bank Revenue, Refunding, AMBAC
|
|
|
5.000
|
%
|
|
|
10/1/23
|
|
|
|
960,000
|
|
|
|
1,050,250
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total South Carolina
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
25,859,780
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tennessee - 1.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chattanooga, TN, Health Educational & Housing Facility Board Revenue, Catholic Health Initiatives
|
|
|
6.250
|
%
|
|
|
10/1/33
|
|
|
|
1,250,000
|
|
|
|
1,545,987
|
|
See
Notes to Schedule of Investments.
15
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Tennessee - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Clarksville, TN, Natural Gas Acquisition Corp., Gas Revenue
|
|
|
5.000
|
%
|
|
|
12/15/20
|
|
|
$
|
2,000,000
|
|
|
$
|
2,266,700
|
|
Hardeman County, TN, Correctional Facilities Corp., Correctional Facilities Revenue
|
|
|
7.750
|
%
|
|
|
8/1/17
|
|
|
|
5,795,000
|
|
|
|
5,807,749
|
|
Johnson City, TN, Health & Educational Facilities Board, Hospital Revenue, Mountain States Health Alliance
|
|
|
5.500
|
%
|
|
|
7/1/36
|
|
|
|
9,100,000
|
|
|
|
9,865,037
|
|
Memphis, TN, Center City Finance Corp. Revenue, Pyramid & Pinch District-B, AGM
|
|
|
5.250
|
%
|
|
|
11/1/30
|
|
|
|
10,000,000
|
|
|
|
12,094,300
|
|
Tennessee Energy Acquisition Corp., Gas Revenue
|
|
|
5.000
|
%
|
|
|
2/1/21
|
|
|
|
14,615,000
|
|
|
|
16,875,210
|
|
Tennessee Energy Acquisition Corp., Gas Revenue
|
|
|
5.250
|
%
|
|
|
9/1/23
|
|
|
|
20,000,000
|
|
|
|
23,881,200
|
|
Tennessee Energy Acquisition Corp., Gas Revenue
|
|
|
5.250
|
%
|
|
|
9/1/24
|
|
|
|
5,040,000
|
|
|
|
6,038,777
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Tennessee
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
78,374,960
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Texas - 8.4%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Bexar County, TX, Housing Finance Corp., MFH Revenue, Waters at Northern Hills Apartments, NATL
|
|
|
6.050
|
%
|
|
|
8/1/36
|
|
|
|
1,000,000
|
|
|
|
921,070
|
|
Brazos River, TX, Harbor Navigation District, Brazoria County Environmental, Dow Chemical Co. Project
|
|
|
6.625
|
%
|
|
|
5/15/33
|
|
|
|
5,000,000
|
|
|
|
5,057,450
|
(c)
|
Dallas-Fort Worth, TX, International Airport Facilities Improvement Corp. Revenue, American Airlines Inc., Guarantee Agreement
|
|
|
6.375
|
%
|
|
|
5/1/35
|
|
|
|
4,970,000
|
|
|
|
2,857,750
|
(c)(f)
|
Dallas-Fort Worth, TX, International Airport Revenue
|
|
|
5.000
|
%
|
|
|
11/1/42
|
|
|
|
6,355,000
|
|
|
|
7,012,234
|
(c)(j)
|
Dallas-Fort Worth, TX, International Airport Revenue, Joint Improvement
|
|
|
5.000
|
%
|
|
|
11/1/42
|
|
|
|
45,000,000
|
|
|
|
49,653,900
|
(c)
|
El Paso County, TX, Housing Finance Corp., MFH Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
American Village Communities
|
|
|
6.375
|
%
|
|
|
12/1/32
|
|
|
|
3,000,000
|
|
|
|
3,002,820
|
|
La Plaza Apartments
|
|
|
6.750
|
%
|
|
|
7/1/30
|
|
|
|
2,390,000
|
|
|
|
2,392,175
|
|
Gulf Coast, IDA, Texas Solid Waste Disposal Revenue, Citgo Petroleum Project
|
|
|
8.000
|
%
|
|
|
4/1/28
|
|
|
|
5,000,000
|
|
|
|
5,005,800
|
(c)
|
Harris County, TX, Cultural Education Facilities Finance Corp., Medical Facilities Revenue, Baylor College of Medicine
|
|
|
5.625
|
%
|
|
|
11/15/32
|
|
|
|
31,000,000
|
|
|
|
35,219,100
|
|
Harris County, TX, Health Facilities Development Corp., School Health Care System Revenue
|
|
|
5.750
|
%
|
|
|
7/1/27
|
|
|
|
2,000,000
|
|
|
|
2,761,560
|
(a)
|
Harris County, TX, Industrial Development Corp., Solid Waste Disposal Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Deer Park Refining Project
|
|
|
4.700
|
%
|
|
|
5/1/18
|
|
|
|
2,000,000
|
|
|
|
2,216,560
|
|
Deer Park Refining Project
|
|
|
5.000
|
%
|
|
|
2/1/23
|
|
|
|
44,000,000
|
|
|
|
49,629,360
|
|
Houston, TX, Airport Systems Revenue
|
|
|
5.500
|
%
|
|
|
7/1/39
|
|
|
|
10,000,000
|
|
|
|
11,478,300
|
|
Limestone County, TX, PFC Revenue, County Jail Project
|
|
|
5.750
|
%
|
|
|
11/1/31
|
|
|
|
8,175,000
|
|
|
|
8,684,303
|
|
Love Field Airport Modernization Corp., TX, Special Facilities Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Southwest Airlines Co. Project
|
|
|
5.000
|
%
|
|
|
11/1/28
|
|
|
|
4,000,000
|
|
|
|
4,365,400
|
(c)
|
Southwest Airlines Co. Project
|
|
|
5.250
|
%
|
|
|
11/1/40
|
|
|
|
15,750,000
|
|
|
|
17,217,585
|
|
Lower Colorado River Authority, TX, Transmission Contract Revenue, LCRA Transmission Services Project, AMBAC
|
|
|
4.900
|
%
|
|
|
5/15/36
|
|
|
|
13,500,000
|
|
|
|
13,512,150
|
|
North Texas Tollway Authority Revenue
|
|
|
5.750
|
%
|
|
|
1/1/33
|
|
|
|
54,000,000
|
|
|
|
60,964,920
|
|
North Texas Tollway Authority Revenue
|
|
|
6.250
|
%
|
|
|
1/1/39
|
|
|
|
8,000,000
|
|
|
|
9,327,040
|
|
Panhandle, TX, Regional Housing Finance Corp., GNMA-Collateralized
|
|
|
6.650
|
%
|
|
|
7/20/42
|
|
|
|
994,000
|
|
|
|
1,045,300
|
|
SA Energy Acquisition, PFC, TX, Gas Supply Revenue
|
|
|
5.250
|
%
|
|
|
8/1/18
|
|
|
|
10,000,000
|
|
|
|
11,567,200
|
|
See
Notes to Schedule of Investments.
16
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Texas - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Texas Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue
|
|
|
5.250
|
%
|
|
|
12/15/18
|
|
|
$
|
3,650,000
|
|
|
$
|
4,347,880
|
|
Texas Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue
|
|
|
6.250
|
%
|
|
|
12/15/26
|
|
|
|
42,980,000
|
|
|
|
55,714,544
|
|
Texas Private Activity Bond Surface Transportation Corp., Senior Lien, NTE Mobility Partners LLC
|
|
|
6.875
|
%
|
|
|
12/31/39
|
|
|
|
18,000,000
|
|
|
|
22,207,860
|
|
Texas Private Activity Bond Surface Transportation Corp. Revenue, LBJ Infrastructure Group LLC
|
|
|
7.000
|
%
|
|
|
6/30/40
|
|
|
|
25,000,000
|
|
|
|
31,417,250
|
|
Texas State Municipal Gas Acquisition & Supply Corp. III, Gas Supply Revenue
|
|
|
5.000
|
%
|
|
|
12/15/23
|
|
|
|
4,000,000
|
|
|
|
4,620,840
|
(j)
|
Texas State Municipal Gas Acquisition & Supply Corp. III, Gas Supply Revenue
|
|
|
5.000
|
%
|
|
|
12/15/28
|
|
|
|
6,000,000
|
|
|
|
6,728,580
|
(j)
|
Texas State Municipal Gas Acquisition & Supply Corp. III, Gas Supply Revenue
|
|
|
5.000
|
%
|
|
|
12/15/29
|
|
|
|
10,000,000
|
|
|
|
11,187,500
|
(j)
|
Texas State Municipal Gas Acquisition & Supply Corp. III, Gas Supply Revenue
|
|
|
5.000
|
%
|
|
|
12/15/30
|
|
|
|
15,000,000
|
|
|
|
16,741,050
|
(j)
|
Texas State Municipal Gas Acquisition & Supply Corp. III, Gas Supply Revenue
|
|
|
5.000
|
%
|
|
|
12/15/31
|
|
|
|
10,000,000
|
|
|
|
11,107,300
|
(j)
|
Texas State Municipal Gas Acquisition & Supply Corp. III, Gas Supply Revenue
|
|
|
5.000
|
%
|
|
|
12/15/32
|
|
|
|
9,000,000
|
|
|
|
9,956,790
|
(j)
|
Texas State Transportation Commission Turnpike System Revenue
|
|
|
5.000
|
%
|
|
|
8/15/41
|
|
|
|
20,000,000
|
|
|
|
22,693,800
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Texas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
500,615,371
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Virgin Islands - 0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Virgin Islands HFA, Single-Family Mortgage Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
GNMA Mortgage-Backed Securities Program, GNMA-Collateralized
|
|
|
6.450
|
%
|
|
|
3/1/16
|
|
|
|
25,000
|
|
|
|
25,020
|
(c)
|
GNMA Mortgage-Backed Securities Program, GNMA-Collateralized
|
|
|
6.500
|
%
|
|
|
3/1/25
|
|
|
|
90,000
|
|
|
|
90,001
|
(c)
|
Virgin Islands Public Finance Authority Revenue, Matching Fund Loan Note
|
|
|
5.000
|
%
|
|
|
10/1/29
|
|
|
|
3,000,000
|
|
|
|
3,366,540
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total U.S. Virgin Islands
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,481,561
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Utah - 0.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provo, UT, Electric Revenue
|
|
|
10.125
|
%
|
|
|
4/1/15
|
|
|
|
395,000
|
|
|
|
445,268
|
(a)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vermont - 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vermont Educational & Health Buildings Agency Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Norwich University Project
|
|
|
5.500
|
%
|
|
|
9/1/28
|
|
|
|
2,650,000
|
|
|
|
2,750,011
|
(b)
|
Norwich University Project
|
|
|
5.500
|
%
|
|
|
9/1/33
|
|
|
|
1,750,000
|
|
|
|
1,816,045
|
(b)
|
Vermont Housing Finance Agency, Single-Family, AGM
|
|
|
5.000
|
%
|
|
|
11/1/34
|
|
|
|
355,000
|
|
|
|
359,327
|
(c)
|
Vermont State Student Assistance Corp., Education Loan Revenue
|
|
|
3.311
|
%
|
|
|
12/3/35
|
|
|
|
6,100,000
|
|
|
|
6,161,366
|
(c)(h)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Vermont
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,086,749
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Virginia - 0.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pittsylvania County, VA, GO
|
|
|
5.750
|
%
|
|
|
2/1/30
|
|
|
|
5,000,000
|
|
|
|
6,022,850
|
|
Prince William County, VA, IDA, Student Housing Revenue, George Mason University Foundation, Prince William Housing LLC
|
|
|
5.125
|
%
|
|
|
9/1/41
|
|
|
|
3,250,000
|
|
|
|
3,667,983
|
|
Virginia College Building Authority, VA, Educational Facilities Revenue, Liberty University Inc. Projects
|
|
|
5.000
|
%
|
|
|
3/1/41
|
|
|
|
14,225,000
|
|
|
|
16,053,339
|
|
Virginia State Small Business Financing Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Elizabeth River Crossings OpCo LLC Project
|
|
|
5.000
|
%
|
|
|
7/1/27
|
|
|
|
3,000,000
|
|
|
|
3,376,260
|
(c)
|
Elizabeth River Crossings OpCo LLC Project
|
|
|
5.250
|
%
|
|
|
1/1/32
|
|
|
|
5,000,000
|
|
|
|
5,615,500
|
(c)
|
See
Notes to Schedule of Investments.
17
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Virginia - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Elizabeth River Crossings OpCo LLC Project
|
|
|
5.500
|
%
|
|
|
1/1/42
|
|
|
$
|
8,000,000
|
|
|
$
|
9,007,360
|
(c)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Virginia
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
43,743,292
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Washington - 1.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Port Longview, WA, Revenue, Refunding Bonds
|
|
|
6.250
|
%
|
|
|
12/1/18
|
|
|
|
2,865,000
|
|
|
|
2,875,601
|
(c)
|
Port of Seattle, WA, Revenue
|
|
|
5.000
|
%
|
|
|
6/1/40
|
|
|
|
18,000,000
|
|
|
|
20,206,080
|
|
Washington State Health Care Facilities Authority, Swedish Health Services
|
|
|
6.250
|
%
|
|
|
11/15/41
|
|
|
|
21,550,000
|
|
|
|
30,391,318
|
(b)
|
Washington State Health Care Facilities Authority Revenue, Central Washington Health Services Association
|
|
|
7.000
|
%
|
|
|
7/1/39
|
|
|
|
8,500,000
|
|
|
|
9,939,220
|
|
Washington State Public Power Supply System, Nuclear Project No. 1 Revenue, Refunding, FGIC, TCRS
|
|
|
7.125
|
%
|
|
|
7/1/16
|
|
|
|
250,000
|
|
|
|
305,873
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Washington
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
63,718,092
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
West Virginia - 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
West Virginia State Hospital Finance Authority Revenue, United Hospital Center Inc., AGM
|
|
|
5.500
|
%
|
|
|
6/1/33
|
|
|
|
5,000,000
|
|
|
|
5,933,450
|
|
West Virginia State Hospital Finance Authority, Hospital Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
United Health Systems
|
|
|
5.500
|
%
|
|
|
6/1/34
|
|
|
|
4,030,000
|
|
|
|
4,509,127
|
|
United Health Systems
|
|
|
5.500
|
%
|
|
|
6/1/39
|
|
|
|
4,000,000
|
|
|
|
4,460,800
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total West Virginia
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,903,377
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wisconsin - 0.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
La Crosse, WI, Resource Recovery Revenue, Refunding Bonds, Northern States Power Co. Project
|
|
|
6.000
|
%
|
|
|
11/1/21
|
|
|
|
3,275,000
|
|
|
|
4,043,512
|
(c)
|
Wisconsin State HEFA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Aurora Health Care Inc.
|
|
|
5.500
|
%
|
|
|
4/15/29
|
|
|
|
9,000,000
|
|
|
|
10,385,910
|
|
Aurora Health Care Inc.
|
|
|
6.400
|
%
|
|
|
4/15/33
|
|
|
|
1,750,000
|
|
|
|
1,776,845
|
|
Aurora Health Care Inc.
|
|
|
5.625
|
%
|
|
|
4/15/39
|
|
|
|
7,800,000
|
|
|
|
8,786,154
|
|
Childrens Hospital
|
|
|
5.375
|
%
|
|
|
8/15/37
|
|
|
|
2,800,000
|
|
|
|
3,175,004
|
|
Essentia Health, AGM
|
|
|
5.125
|
%
|
|
|
2/15/30
|
|
|
|
6,475,000
|
|
|
|
7,195,279
|
|
Prohealth Care Inc. Obligation Group
|
|
|
6.625
|
%
|
|
|
2/15/39
|
|
|
|
3,500,000
|
|
|
|
4,216,555
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Wisconsin
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
39,579,259
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wyoming - 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Campbell County, WY, Solid Waste Facilities Revenue, Basin Electric Power Cooperative
|
|
|
5.750
|
%
|
|
|
7/15/39
|
|
|
|
11,000,000
|
|
|
|
12,737,120
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
(Cost - $4,701,189,902)
|
|
|
|
5,433,111,567
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SHORT-TERM INVESTMENTS - 8.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
California - 0.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ABAG Finance Authority for Nonprofit Corp., CA, Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Acacia Creek at Union Project, SPA-Bank of America N.A.
|
|
|
0.250
|
%
|
|
|
7/1/38
|
|
|
|
2,600,000
|
|
|
|
2,600,000
|
(k)(l)
|
California Alumni Association Project, LOC-Bank of America N.A.
|
|
|
0.210
|
%
|
|
|
4/1/34
|
|
|
|
200,000
|
|
|
|
200,000
|
(k)(l)
|
On Lok Senior Health Services, LOC-Wells Fargo Bank N.A.
|
|
|
0.130
|
%
|
|
|
8/1/38
|
|
|
|
200,000
|
|
|
|
200,000
|
(k)(l)
|
California Statewide CDA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kaiser Permanente
|
|
|
0.160
|
%
|
|
|
4/1/32
|
|
|
|
1,300,000
|
|
|
|
1,300,000
|
(k)(l)
|
Kaiser Permanente
|
|
|
0.150
|
%
|
|
|
4/1/36
|
|
|
|
2,100,000
|
|
|
|
2,100,000
|
(k)(l)
|
Los Angeles County Museum of Art, LOC-Union Bank N.A.
|
|
|
0.160
|
%
|
|
|
12/1/37
|
|
|
|
1,400,000
|
|
|
|
1,400,000
|
(k)(l)
|
See
Notes to Schedule of Investments.
18
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
California - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Painted Turtle Gang Camp Foundation, LOC-Wells Fargo Bank N.A.
|
|
|
0.130
|
%
|
|
|
4/1/33
|
|
|
$
|
2,400,000
|
|
|
$
|
2,400,000
|
(k)(l)
|
California Statewide CDA, MFH Revenue, David Avenue Apartments, FHLMC, LIQ-FHLMC
|
|
|
0.170
|
%
|
|
|
12/1/42
|
|
|
|
5,580,000
|
|
|
|
5,580,000
|
(c)(k)(l)
|
Eastern Municipal Water District, Water & Sewer Revenue, COP, SPA-Wells Fargo Bank N.A.
|
|
|
0.140
|
%
|
|
|
7/1/35
|
|
|
|
2,650,000
|
|
|
|
2,650,000
|
(k)(l)
|
Irvine, CA, USD Special Tax Revenue, Community Facilities District No. 09-1, LOC-U.S. Bank N.A.
|
|
|
0.130
|
%
|
|
|
9/1/51
|
|
|
|
900,000
|
|
|
|
900,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total California
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
19,330,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Florida - 1.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gainesville, FL, Utilities System Revenue, SPA-JPMorgan Chase
|
|
|
0.180
|
%
|
|
|
10/1/42
|
|
|
|
7,700,000
|
|
|
|
7,700,000
|
(k)(l)
|
Halifax, FL, Hospital Medical Center, LOC-JPMorgan Chase
|
|
|
0.180
|
%
|
|
|
6/1/48
|
|
|
|
1,000,000
|
|
|
|
1,000,000
|
(k)(l)
|
Hillsborough County, FL, School Board COP, Master Lease, NATL, LOC-Wells Fargo Bank N.A.
|
|
|
0.190
|
%
|
|
|
7/1/30
|
|
|
|
11,900,000
|
|
|
|
11,900,000
|
(k)(l)
|
Miami-Dade County, FL, Professional Sports Franchise Facilities Tax Revenue, LOC-Wells Fargo Bank N.A.
|
|
|
0.180
|
%
|
|
|
10/1/48
|
|
|
|
6,840,000
|
|
|
|
6,840,000
|
(k)(l)
|
North Broward, FL, Hospital District Revenue, NATL, LOC-Wells Fargo Bank N.A.
|
|
|
0.150
|
%
|
|
|
1/15/27
|
|
|
|
11,300,000
|
|
|
|
11,300,000
|
(k)(l)
|
Orlando & Orange County, FL, Expressway Authority Revenue, LOC-SunTrust Bank
|
|
|
0.230
|
%
|
|
|
7/1/40
|
|
|
|
14,225,000
|
|
|
|
14,225,000
|
(k)(l)
|
Pinellas County, FL, Health Facilities Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Baycare Health System Inc., LOC-U.S. Bank N.A.
|
|
|
0.190
|
%
|
|
|
11/1/38
|
|
|
|
3,600,000
|
|
|
|
3,600,000
|
(k)(l)
|
Hospital Facilities Bayfront Projects, LOC-SunTrust Bank
|
|
|
0.220
|
%
|
|
|
7/1/34
|
|
|
|
585,000
|
|
|
|
585,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Florida
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
57,150,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Georgia - 0.3%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Municipal Electric Authority of Georgia, BK Tokyo-Mitsubishi VFJ
|
|
|
0.160
|
%
|
|
|
1/1/48
|
|
|
|
17,490,000
|
|
|
|
17,490,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Illinois - 0.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Chicago, IL, Water Revenue, SPA-JPMorgan Chase
|
|
|
0.200
|
%
|
|
|
11/1/30
|
|
|
|
1,600,000
|
|
|
|
1,600,000
|
(k)(l)
|
Illinois Development Finance Authority Revenue, Evanston Northwestern, SPA-JPMorgan Chase
|
|
|
0.170
|
%
|
|
|
5/1/31
|
|
|
|
12,800,000
|
|
|
|
12,800,000
|
(k)(l)
|
Illinois DFA, IDR, Profile Packaging Inc. Project, LOC-LaSalle Bank N.A.
|
|
|
0.400
|
%
|
|
|
7/1/18
|
|
|
|
2,000,000
|
|
|
|
2,000,000
|
(c)(k)(l)
|
Illinois Finance Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provena Health, LOC-JPMorgan Chase
|
|
|
0.170
|
%
|
|
|
8/15/44
|
|
|
|
1,900,000
|
|
|
|
1,900,000
|
(k)(l)
|
University of Chicago Medical Center, LOC-JPMorgan Chase
|
|
|
0.180
|
%
|
|
|
8/1/43
|
|
|
|
10,115,000
|
|
|
|
10,115,000
|
(k)(l)
|
University of Chicago Medical Center, LOC-Wells Fargo Bank N.A.
|
|
|
0.170
|
%
|
|
|
8/1/44
|
|
|
|
2,100,000
|
|
|
|
2,100,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Illinois
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
30,515,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indiana - 0.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Indiana State Finance Authority Revenue, Lease Appropriation, SPA-JPMorgan Chase
|
|
|
0.180
|
%
|
|
|
2/1/39
|
|
|
|
900,000
|
|
|
|
900,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kansas - 0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Kansas State Department of Transportation Highway Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SPA-Dexia Credit Local & Westdeutsche Landesbank
|
|
|
0.140
|
%
|
|
|
9/1/19
|
|
|
|
250,000
|
|
|
|
250,000
|
(k)(l)
|
SPA-JPMorgan Chase
|
|
|
0.160
|
%
|
|
|
9/1/22
|
|
|
|
2,000,000
|
|
|
|
2,000,000
|
(k)(l)
|
See
Notes to Schedule of Investments.
19
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
Kansas - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wichita, KS, Hospital Revenue, Hospital Facilities-Via Christi Health Inc., LOC- JPMorgan Chase
|
|
|
0.170
|
%
|
|
|
11/15/39
|
|
|
$
|
1,200,000
|
|
|
$
|
1,200,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Kansas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,450,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michigan - 0.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Michigan State Higher EFA Revenue, Thomas M Cooley Law School Project, LOC-RBS Citizens N.A, FHLB
|
|
|
0.150
|
%
|
|
|
7/1/37
|
|
|
|
1,475,000
|
|
|
|
1,475,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Missouri - 0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Missouri State HEFA Revenue, BJC Health Systems, SPA-U.S. Bank N.A.
|
|
|
0.170
|
%
|
|
|
5/15/38
|
|
|
|
7,200,000
|
|
|
|
7,200,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nebraska - 0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Madison County, NE, Hospital Authority Revenue No.001, Faith Regional Health Services, LOC-U.S. Bank N.A.
|
|
|
0.180
|
%
|
|
|
7/1/33
|
|
|
|
7,000,000
|
|
|
|
7,000,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Nevada - 0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Las Vegas Valley, NV, Water District, Water Improvement, SPA-Dexia Credit Local
|
|
|
0.240
|
%
|
|
|
6/1/36
|
|
|
|
8,300,000
|
|
|
|
8,300,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Jersey - 0.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New Jersey Health Care Facilities Financing Authority Revenue, Virtua Health Inc., LOC-JPMorgan Chase
|
|
|
0.190
|
%
|
|
|
7/1/43
|
|
|
|
1,000,000
|
|
|
|
1,000,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
New York - 2.5%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long Island, NY, Power Authority Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AGM, SPA-Dexia Credit Local
|
|
|
0.180
|
%
|
|
|
12/1/29
|
|
|
|
11,900,000
|
|
|
|
11,900,000
|
(k)(l)
|
FSA, SPA-Dexia Credit Local
|
|
|
0.330
|
%
|
|
|
12/1/29
|
|
|
|
100,000
|
|
|
|
100,000
|
(k)(l)
|
LOC-TD Bank N.A.
|
|
|
0.140
|
%
|
|
|
12/1/29
|
|
|
|
3,200,000
|
|
|
|
3,200,000
|
(k)(l)
|
Metropolitan Transportation Authority, NY, Revenue, LOC-PNC Bank N.A.
|
|
|
0.150
|
%
|
|
|
11/1/35
|
|
|
|
6,900,000
|
|
|
|
6,900,000
|
(k)(l)
|
New York City, NY, GO:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AGM, SPA-Dexia Credit Local
|
|
|
0.220
|
%
|
|
|
11/1/26
|
|
|
|
14,200,000
|
|
|
|
14,200,000
|
(k)(l)
|
LIQ-Dexia Credit Local
|
|
|
0.240
|
%
|
|
|
4/1/35
|
|
|
|
22,350,000
|
|
|
|
22,350,000
|
(k)(l)
|
LOC-Dexia Credit Local
|
|
|
0.220
|
%
|
|
|
1/1/36
|
|
|
|
3,270,000
|
|
|
|
3,270,000
|
(k)(l)
|
SPA-Dexia Credit Local
|
|
|
0.220
|
%
|
|
|
8/1/28
|
|
|
|
23,800,000
|
|
|
|
23,800,000
|
(k)(l)
|
New York City, NY, Industrial Development Agency, Civic Facility Revenue, Jewish Board of Family and Childrens Services Inc., LOC-TD Bank
N.A.
|
|
|
0.160
|
%
|
|
|
7/1/25
|
|
|
|
1,500,000
|
|
|
|
1,500,000
|
(k)(l)
|
New York City, NY, Municipal Water Finance Authority, SPA-Dexia Credit Local
|
|
|
0.220
|
%
|
|
|
6/15/32
|
|
|
|
23,800,000
|
|
|
|
23,800,000
|
(k)(l)
|
New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue, Second General Resolution, SPA-Bank of Nova
Scotia
|
|
|
0.190
|
%
|
|
|
6/15/38
|
|
|
|
300,000
|
|
|
|
300,000
|
(k)(l)
|
New York City, NY, TFA Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Future Tax Secured, SPA-Dexia Credit Local
|
|
|
0.210
|
%
|
|
|
8/1/31
|
|
|
|
600,000
|
|
|
|
600,000
|
(k)(l)
|
New York City Recovery Project Revenue, Subordinated, LIQ-Dexia Credit Local
|
|
|
0.220
|
%
|
|
|
11/1/22
|
|
|
|
9,080,000
|
|
|
|
9,080,000
|
(k)(l)
|
New York City, NY, Trust for Cultural Resources Revenue, American Museum of Natural History, SPA-JPMorgan Chase
|
|
|
0.200
|
%
|
|
|
4/1/27
|
|
|
|
1,000,000
|
|
|
|
1,000,000
|
(k)(l)
|
New York State Dormitory Authority Revenue, State Supported Debt, City University of New York, LOC-TD Bank N.A.
|
|
|
0.150
|
%
|
|
|
7/1/31
|
|
|
|
2,600,000
|
|
|
|
2,600,000
|
(k)(l)
|
New York, NY, GO:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LOC-Landesbank Baden-Wurttemberg
|
|
|
0.200
|
%
|
|
|
8/1/21
|
|
|
|
3,035,000
|
|
|
|
3,035,000
|
(k)(l)
|
See
Notes to Schedule of Investments.
20
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
New York - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Subordinated, LOC-Dexia Credit Local
|
|
|
0.220
|
%
|
|
|
3/1/34
|
|
|
$
|
22,715,000
|
|
|
$
|
22,715,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total New York
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
150,350,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
North Carolina - 1.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Charlotte-Mecklenburg Hospital Authority, NC, Health Care System Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
AGM, SPA-Dexia Credit Local
|
|
|
0.230
|
%
|
|
|
1/15/42
|
|
|
|
8,700,000
|
|
|
|
8,700,000
|
(k)(l)
|
AGM, SPA-Dexia Credit Local
|
|
|
0.230
|
%
|
|
|
1/15/43
|
|
|
|
10,700,000
|
|
|
|
10,700,000
|
(k)(l)
|
AGM, SPA-Dexia Credit Local
|
|
|
0.230
|
%
|
|
|
1/15/44
|
|
|
|
32,530,000
|
|
|
|
32,530,000
|
(k)(l)
|
Mecklenburg County, NC, COP, SPA-SunTrust Bank
|
|
|
0.230
|
%
|
|
|
2/1/28
|
|
|
|
8,885,000
|
|
|
|
8,885,000
|
(k)(l)
|
Raleigh, NC, Combined Enterprise System Revenue, SPA-Wells Fargo Bank N.A.
|
|
|
0.150
|
%
|
|
|
3/1/35
|
|
|
|
5,000,000
|
|
|
|
5,000,000
|
(k)(l)
|
Raleigh, NC, COP, Downtown Improvement Project, SPA-Wells Fargo Bank N.A.
|
|
|
0.150
|
%
|
|
|
2/1/34
|
|
|
|
6,200,000
|
|
|
|
6,200,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total North Carolina
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
72,015,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ohio - 0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
County of Montgomery, OH, Revenue, Miami Valley Hospital, SPA-Wells Fargo Bank N.A.
|
|
|
0.170
|
%
|
|
|
11/15/39
|
|
|
|
800,000
|
|
|
|
800,000
|
(k)(l)
|
Montgomery County, OH, Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Miami Valley Hospital, JPMorgan Chase
|
|
|
0.180
|
%
|
|
|
11/15/45
|
|
|
|
600,000
|
|
|
|
600,000
|
(k)(l)
|
Miami Valley Hospital, SPA-JPMorgan Chase
|
|
|
0.170
|
%
|
|
|
11/15/45
|
|
|
|
2,100,000
|
|
|
|
2,100,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Ohio
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,500,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oklahoma - 0.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Oklahoma Development Finance Authority, Health System Revenue, Integris Baptist Medical Center, SPA-JPMorgan Chase
|
|
|
0.200
|
%
|
|
|
8/15/35
|
|
|
|
1,000,000
|
|
|
|
1,000,000
|
(k)(l)
|
Oklahoma State Turnpike Authority Revenue, SPA-JPMorgan Chase
|
|
|
0.180
|
%
|
|
|
1/1/28
|
|
|
|
900,000
|
|
|
|
900,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Oklahoma
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,900,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pennsylvania - 0.9%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allegheny County, PA, Higher Education Building Authority, University Revenue, Carnegie Mellon University, SPA-Bank of New York
|
|
|
0.160
|
%
|
|
|
12/1/37
|
|
|
|
2,000,000
|
|
|
|
2,000,000
|
(k)(l)
|
Delaware County Authority, PA:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dunwoody Village Inc., LOC-Citizens Bank of PA
|
|
|
0.240
|
%
|
|
|
4/1/30
|
|
|
|
500,000
|
|
|
|
500,000
|
(k)(l)
|
White Horse Village Inc. Project, LOC-Citizens Bank N.A.
|
|
|
0.240
|
%
|
|
|
7/1/36
|
|
|
|
15,975,000
|
|
|
|
15,975,000
|
(k)(l)
|
White Horse Village Inc. Project, LOC-Citizens Bank of Pennsylvania
|
|
|
0.240
|
%
|
|
|
7/1/36
|
|
|
|
1,200,000
|
|
|
|
1,200,000
|
(k)(l)
|
Montgomery County, PA , GO, SPA-PNC Bank N.A.
|
|
|
0.160
|
%
|
|
|
8/15/24
|
|
|
|
2,500,000
|
|
|
|
2,500,000
|
(k)(l)
|
Pennsylvania State Turnpike Commission, Registration Fee Revenue, Refunding, AGM, SPA-JPMorgan Chase
|
|
|
0.230
|
%
|
|
|
7/15/41
|
|
|
|
12,100,000
|
|
|
|
12,100,000
|
(k)(l)
|
Pittsburgh & Allegheny County, PA, Sports & Exhibition Authority, AGM, SPA-PNC Bank
|
|
|
0.290
|
%
|
|
|
11/1/38
|
|
|
|
13,100,000
|
|
|
|
13,100,000
|
(k)(l)
|
State Public School Building Authority, Albert Gallatin Area Schools, AGM, SPA-PNC Bank
|
|
|
0.260
|
%
|
|
|
9/1/24
|
|
|
|
4,930,000
|
|
|
|
4,930,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Pennsylvania
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
52,305,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
South Carolina - 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Rock Hill, SC, Utility System Revenue, AGM, SPA-Wells Fargo Bank N.A.
|
|
|
0.180
|
%
|
|
|
1/1/25
|
|
|
|
9,580,000
|
|
|
|
9,580,000
|
(k)(l)
|
See
Notes to Schedule of Investments.
21
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SECURITY
|
|
RATE
|
|
|
MATURITY
DATE
|
|
|
FACE
AMOUNT
|
|
|
VALUE
|
|
South Carolina - continued
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
University of South Carolina, School of Medicine, Education Trust Revenue Healthcare Facilities, LOC-Wells Fargo Bank N.A.
|
|
|
0.180
|
%
|
|
|
9/1/25
|
|
|
$
|
3,300,000
|
|
|
$
|
3,300,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total South Carolina
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
12,880,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Tennessee - 0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Clarksville, TN, Public Building Authority Revenue, Pooled Financing, Tennessee Municipal Bond Fund, LOC-Bank of America N.A.
|
|
|
0.210
|
%
|
|
|
11/1/35
|
|
|
|
6,815,000
|
|
|
|
6,815,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Texas - 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Harris County, TX, Cultural Education Facilities Finance Corp., Special Facilities Revenue, Texas Medical Center, LOC-JPMorgan Chase
|
|
|
0.180
|
%
|
|
|
9/1/31
|
|
|
|
1,390,000
|
|
|
|
1,390,000
|
(k)(l)
|
Rockwall, TX, ISD, GO, School Building, PSFG, SPA-Dexia Credit Local
|
|
|
0.230
|
%
|
|
|
8/1/37
|
|
|
|
7,290,000
|
|
|
|
7,290,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Texas
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,680,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vermont - 0.1%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Vermont State Housing Finance Agency, Single-Family Revenue, AGM, SPA-TD Bank N.A.
|
|
|
0.230
|
%
|
|
|
11/1/34
|
|
|
|
3,455,000
|
|
|
|
3,455,000
|
(c)(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Virginia - 0.7%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Albemarle County, VA, EDA, Hospital Revenue:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Martha Jefferson Hospital, LOC-Wells Fargo Bank N.A.
|
|
|
0.170
|
%
|
|
|
10/1/48
|
|
|
|
5,315,000
|
|
|
|
5,315,000
|
(k)(l)
|
Martha Jefferson Hospital, LOC-Wells Fargo Bank N.A.
|
|
|
0.170
|
%
|
|
|
10/1/48
|
|
|
|
1,900,000
|
|
|
|
1,900,000
|
(k)(l)
|
Roanoke, VA, IDA, Hospital Revenue, Carilion Health Systems, AGM, SPA-Wells Fargo Bank N.A.
|
|
|
0.200
|
%
|
|
|
7/1/36
|
|
|
|
2,100,000
|
|
|
|
2,100,000
|
(k)(l)
|
Virginia College Building Authority, VA, Educational Facilities Revenue, 21st Century College, SPA-Wells Fargo Bank N.A. Refunding, University
Richmond Project
|
|
|
0.190
|
%
|
|
|
11/1/36
|
|
|
|
3,000,000
|
|
|
|
3,000,000
|
(k)(l)
|
Virginia Commonwealth University, Health System Authority Revenue, LOC-Wells Fargo Bank N.A.
|
|
|
0.170
|
%
|
|
|
7/1/37
|
|
|
|
9,000,000
|
|
|
|
9,000,000
|
(k)(l)
|
Virginia Small Business Financing Authority, Hospital Revenue, Carilion Clinic Obligation, SPA-Wells Fargo Bank N.A.
|
|
|
0.200
|
%
|
|
|
7/1/42
|
|
|
|
20,400,000
|
|
|
|
20,400,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total Virginia
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
41,715,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Washington - 0.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Washington State Health Care Facilities Authority Revenue, Multicare Health System, LOC-Barclays Bank PLC
|
|
|
0.150
|
%
|
|
|
8/15/41
|
|
|
|
1,685,000
|
|
|
|
1,685,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wisconsin - 0.2%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wisconsin State HEFA Revenue, Aspirus Wausau Hospital Inc., LOC-JPMorgan Chase
|
|
|
0.180
|
%
|
|
|
8/15/36
|
|
|
|
10,400,000
|
|
|
|
10,400,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Wyoming - 0.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sweetwater County, WY, PCR, Refunding, Pacificorp Project, LOC-Barclays Bank PLC
|
|
|
0.180
|
%
|
|
|
1/1/14
|
|
|
|
2,000,000
|
|
|
|
2,000,000
|
(k)(l)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL SHORT-TERM INVESTMENTS
(Cost - $521,510,000)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
521,510,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS - 100.0%
(Cost - $5,222,699,902#)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,954,621,567
|
|
Liabilities in Excess of Other Assets - (0.0)%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,189,969
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL NET ASSETS - 100.0%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
5,953,431,598
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a)
|
Bonds are escrowed to maturity by government securities and/or U.S. government agency securities and are considered by the manager to be triple-A rated even if issuer
has not applied for new ratings.
|
See
Notes to Schedule of Investments.
22
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
(b)
|
Pre-Refunded bonds are escrowed with U.S. government obligations and/or U.S. government agency securities and are considered by the manager to be triple-A rated even if
issuer has not applied for new ratings.
|
(c)
|
Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (AMT).
|
(d)
|
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, unless otherwise noted.
|
(e)
|
The maturity principal is currently in default as of November 30, 2012.
|
(f)
|
The coupon payment on these securities is currently in default as of November 30, 2012.
|
(g)
|
Maturity date shown represents the mandatory tender date.
|
(h)
|
Variable rate security. Interest rate disclosed is as of the most recent information available.
|
(i)
|
All or a portion of this security is held at the broker as collateral for open futures contracts.
|
(j)
|
Security is purchased on a when-issued basis.
|
(k)
|
Variable rate demand obligations 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.
|
(l)
|
Maturity date shown is the final maturity date. The security may be sold back to the issuer before final maturity.
|
#
|
Aggregate cost for federal income tax purposes is substantially the same.
|
Abbreviations used in this schedule:
|
|
|
|
|
ABAG
|
|
Association of Bay Area Governments
|
ACA
|
|
American Capital Assurance - Insured Bonds
|
AGC
|
|
Assured Guaranty Corporation - Insured Bonds
|
AGM
|
|
Assured Guaranty Municipal Corporation - Insured Bonds
|
AMBAC
|
|
American Municipal Bond Assurance Corporation - Insured Bonds
|
BHAC
|
|
Berkshire Hathaway Assurance Corporation - Insured Bonds
|
CDA
|
|
Communities Development Authority
|
CMI
|
|
California Mortgage Insurance Program - Insured Bonds
|
COP
|
|
Certificates of Participation
|
CTFS
|
|
Certificates
|
DFA
|
|
Development Finance Agency
|
EDA
|
|
Economic Development Authority
|
EDC
|
|
Economic Development Corporation
|
EDR
|
|
Economic Development Revenue
|
EFA
|
|
Educational Facilities Authority
|
FGIC
|
|
Financial Guaranty Insurance Company - Insured Bonds
|
FHA
|
|
Federal Housing Administration
|
FHLB
|
|
Federal Home Loan Bank
|
FHLMC
|
|
Federal Home Loan Mortgage Corporation
|
FNMA
|
|
Federal National Mortgage Association
|
FSA
|
|
Financial Security Assurance - Insured Bonds
|
GNMA
|
|
Government National Mortgage Association
|
GO
|
|
General Obligation
|
GTD
|
|
Guaranteed
|
HDC
|
|
Housing Development Corporation
|
HEFA
|
|
Health & Educational Facilities Authority
|
HFA
|
|
Housing Finance Authority
|
IDA
|
|
Industrial Development Authority
|
IDR
|
|
Industrial Development Revenue
|
IFA
|
|
Industrial Finance Agency
|
ISD
|
|
Independent School District
|
LIQ
|
|
Liquidity Facility
|
LOC
|
|
Letter of Credit
|
MFH
|
|
Multi-Family Housing
|
MTA
|
|
Metropolitan Transportation Authority
|
MUD
|
|
Municipal Utility District
|
NATL
|
|
National Public Finance Guarantee Corporation - Insured Bonds
|
PCR
|
|
Pollution Control Revenue
|
PFA
|
|
Public Facilities Authority
|
PFC
|
|
Public Facilities Corporation
|
PSFG
|
|
Permanent School Fund Guaranty
|
RDA
|
|
Redevelopment Agency
|
SPA
|
|
Standby Bond Purchase Agreement - Insured Bonds
|
TCRS
|
|
Transferable Custodial Receipts
|
TFA
|
|
Transitional Finance Authority
|
USD
|
|
Unified School District
|
VHA
|
|
Veterans Health Administration
|
See
Notes to Schedule of Investments.
23
WESTERN ASSET MANAGED MUNICIPALS FUND
|
|
|
Schedule of investments (unaudited) (contd)
|
|
November 30, 2012
|
|
|
|
|
|
Summary of Investments by Industry
|
|
Transportation
|
|
|
20.1
|
%
|
Health Care
|
|
|
17.0
|
|
Industrial Revenue
|
|
|
12.8
|
|
Education
|
|
|
8.4
|
|
Power
|
|
|
8.0
|
|
Special Tax Obligation
|
|
|
7.4
|
|
Water & Sewer
|
|
|
4.4
|
|
Other
|
|
|
3.9
|
|
Leasing
|
|
|
3.1
|
|
Housing
|
|
|
2.3
|
|
Pre-Refunded/Escrowed to Maturity
|
|
|
1.5
|
|
State General Obligation
|
|
|
1.0
|
|
Local General Obligation
|
|
|
0.8
|
|
Solid Waste/Resource Recovery
|
|
|
0.5
|
|
Short-Term Investments
|
|
|
8.8
|
|
|
|
|
|
|
100.0
|
%
|
|
|
|
As a percentage of total investments. Please note that Fund holdings are as of November 30, 2012 and are subject to change.
|
|
|
|
|
|
Ratings Table*
|
|
|
|
Standard & Poors/Moodys/Fitch**
|
|
|
|
|
AAA/Aaa
|
|
|
1.9
|
%
|
AA/Aa
|
|
|
27.6
|
|
A
|
|
|
47.9
|
|
BBB/Baa
|
|
|
10.4
|
|
BB/Ba
|
|
|
0.9
|
|
B/B
|
|
|
0.7
|
|
D
|
|
|
0.0
|
|
A-1/VMIG 1
|
|
|
8.8
|
|
NR
|
|
|
1.8
|
|
|
|
|
|
|
100.0
|
%
|
|
|
*
|
As a percentage of total investments.
|
**
|
The ratings shown are based on each portfolio securitys rating as determined by Standard & Poors, Moodys or Fitch, each a Nationally
Recognized Statistical Rating Organization (NRSRO). These ratings are the opinions of the NRSRO and are not measures of quality or guarantees of performance. Securities may be rated by other NRSROs, and these ratings may be higher or
lower. In the event that a security is rated by multiple NRSROs and receives different ratings, the Fund will treat the security as being rated in the highest rating category received from a NRSRO.
|
|
Represents less than 0.1%.
|
See
Notes to Schedule of Investments.
24
Notes to Schedule of Investments (unaudited)
1. Organization and significant accounting policies
Western Asset Managed Municipals Fund (formerly Legg Mason Western Asset Managed Municipals Fund) (the Fund) is a separate diversified investment series of Legg Mason Partners Income Trust
(the Trust). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the 1940 Act), as an open-end management investment company.
The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting
principles (GAAP).
(a) Investment valuation.
The valuations for fixed income securities (which may include, but are not
limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which
may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services use inputs that are observable such as issuer details, interest rates, yield curves, prepayment
speeds, credit risks/spreads, default rates and quoted prices for similar securities. Short-term fixed income securities that will mature in 60 days or less are valued at amortized cost, unless it is determined that using this method would not
reflect an investments fair value. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. 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 Funds Board of Trustees.
The Board of Trustees is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Legg
Mason North American Fund Valuation Committee (the Valuation Committee). The Valuation Committee, pursuant to the policies adopted by the Board of Trustees, is responsible for making fair value determinations, evaluating the
effectiveness of the Funds pricing policies, and reporting to 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.
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 issuers 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:
25
Notes to Schedule of Investments (unaudited) (continued)
|
|
|
Level 1 quoted prices in active markets for identical investments
|
|
|
|
Level 2 other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk,
etc.)
|
|
|
|
Level 3 significant unobservable inputs (including the Funds 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 Funds
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
|
|
Municipal bonds
|
|
|
|
|
|
$
|
5,433,111,567
|
|
|
|
|
|
|
$
|
5,433,111,567
|
|
Short-term investments
|
|
|
|
|
|
|
521,510,000
|
|
|
|
|
|
|
|
521,510,000
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investments
|
|
|
|
|
|
$
|
5,954,621,567
|
|
|
|
|
|
|
$
|
5,954,621,567
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES
|
|
DESCRIPTION
|
|
QUOTED PRICES
(LEVEL 1)
|
|
|
OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
|
|
|
SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)
|
|
|
TOTAL
|
|
Other financial instruments:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Futures contracts
|
|
$
|
2,648,450
|
|
|
|
|
|
|
|
|
|
|
$
|
2,648,450
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Schedule of Investments for additional detailed categorizations.
|
(b) Futures contracts.
The Fund uses futures contracts generally to gain exposure to, or hedge against, changes in interest rates or gain exposure to, or hedge against, changes in certain asset
classes. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date.
Upon entering into a futures contract, the Fund is required to deposit cash or cash equivalents with a broker in an amount equal to a certain percentage
of the contract amount. This is known as the initial margin and subsequent payments (variation margin) are made or received by the Fund each day, depending on the daily fluctuation in the value of the contract.
Futures contracts involve, to varying degrees, risk of loss. In addition, there is the risk that the Fund may not be able to enter into a closing
transaction because of an illiquid secondary market.
(c) Securities traded on a when-issued basis.
The Fund may trade securities on a
when-issued basis. In a when-issued transaction, the securities are purchased or sold by the Fund with payment and delivery taking place in the future in order to secure what is considered to be an advantageous price and yield to the Fund at the
time of entering into the transaction.
Purchasing such securities involves risk of loss if the value of the securities declines prior to
settlement. These securities are subject to market fluctuations and their current value is determined in the same manner as for other securities.
(d) Security transactions.
Security transactions are accounted for on a trade date basis.
26
Notes to Schedule of Investments (unaudited) (continued)
2. Investments
At November 30, 2012, the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were substantially
as follows:
|
|
|
|
|
Gross unrealized appreciation
|
|
$
|
741,901,498
|
|
Gross unrealized depreciation
|
|
|
(9,979,833
|
)
|
|
|
|
|
|
Net unrealized appreciation
|
|
$
|
731,921,665
|
|
|
|
|
|
|
At November 30, 2012, the Fund had the following open futures contracts:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of
Contracts
|
|
|
Expiration
Date
|
|
|
Basis
Value
|
|
|
Market
Value
|
|
|
Unrealized
Loss
|
|
Contracts to Sell:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. Treasury 30-Year Bonds
|
|
|
1,558
|
|
|
|
12/12
|
|
|
$
|
233,438,468
|
|
|
$
|
235,890,938
|
|
|
$
|
(2,452,470
|
)
|
Ultra Long-Term U.S. Treasury Bonds
|
|
|
244
|
|
|
|
12/12
|
|
|
|
40,635,894
|
|
|
|
40,831,874
|
|
|
|
(195,980
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net unrealized loss on open futures contracts
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$
|
(2,648,450
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3. Derivative instruments and hedging activities
GAAP requires enhanced disclosure about an entitys derivative and hedging activities.
The following is a summary of the Funds derivative instruments categorized by risk exposure at November 30,
2012.
|
|
|
|
|
|
|
Futures Contracts
|
|
Primary Underlying Risk
|
|
Unrealized
Depreciation
|
|
Interest Rate Risk
|
|
$
|
(2,648,450
|
)
|
|
|
|
|
|
During the period ended November 30, 2012, the volume of derivative activity for
the Fund was as follows:
|
|
|
|
|
|
|
Average Market Value
|
|
Futures contracts (to sell)
|
|
$
|
155,343,072
|
|
27
ITEM 2.
|
CONTROLS AND PROCEDURES.
|
|
(a)
|
The registrants principal executive officer and principal financial officer have concluded that the registrants disclosure controls and procedures (as
defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the 1940 Act)) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on
their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.
|
|
(b)
|
There were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the
registrants last fiscal quarter that have materially affected, or are likely to materially affect the registrants internal control over financial reporting.
|
Certifications
pursuant to Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned,
thereunto duly authorized.
Legg Mason Partners Income Trust
|
|
|
By
|
|
/s/ R. J
AY
G
ERKEN
|
|
|
R. Jay Gerken
|
|
|
Chief Executive Officer
|
|
|
Date:
|
|
January 25, 2013
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report
has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
|
|
|
|
|
By
|
|
/s/ R. J
AY
G
ERKEN
|
|
|
R. Jay Gerken
|
|
|
Chief Executive Officer
|
|
|
Date:
|
|
January 25, 2013
|
|
|
By
|
|
/s/ R
ICHARD
F.
S
ENNETT
|
|
|
Richard F. Sennett
|
|
|
Principal Financial Officer
|
|
|
Date:
|
|
January 25, 2013
|
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Coeur Mining (NYSE:CDE)
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