Form NPORT-P - Monthly Portfolio Investments Report on Form N-PORT (Public)

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
CORPORATE BONDS & NOTES - 93.1%
COMMUNICATION SERVICES - 8.8%
Diversified Telecommunication Services - 2.0%
AT&T Inc., Senior Notes		4.300	%		2/15/30	$	80,000	$	76,905
AT&T Inc., Senior Notes		4.500	%		5/15/35		360,000		336,415
AT&T Inc., Senior Notes		6.350	%		3/15/40		50,000		50,865
AT&T Inc., Senior Notes		4.900	%		6/15/42		150,000		134,709
AT&T Inc., Senior Notes		4.800	%		6/15/44		210,000		189,197
AT&T Inc., Senior Notes		4.550	%		3/9/49		310,000		265,947
AT&T Inc., Senior Notes		3.300	%		2/1/52		120,000		83,139
AT&T Inc., Senior Notes		3.500	%		9/15/53		130,000		91,791
AT&T Inc., Senior Notes		3.800	%		12/1/57		130,000		94,199
AT&T Inc., Senior Notes		3.500	%		2/1/61		70,000		47,898
British Telecommunications PLC, Senior Notes		9.625	%		12/15/30		70,000		85,895
Telefonica Emisiones SA, Senior Notes		7.045	%		6/20/36		60,000		67,211
Telefonica Europe BV, Senior Notes		8.250	%		9/15/30		230,000		262,998
Verizon Communications Inc., Senior Notes		5.500	%		3/16/47		630,000		647,807

Total Diversified Telecommunication Services									2,434,976

Entertainment - 1.9%
Walt Disney Co., Senior Notes		6.550	%		3/15/33		545,000		613,146
Walt Disney Co., Senior Notes		7.750	%		12/1/45		130,000		170,021
Warnermedia Holdings Inc., Senior Notes		5.141	%		3/15/52		1,820,000		1,511,775

Total Entertainment									2,294,942

Media - 3.6%
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		5/1/32		580,000		466,465
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.384	%		10/23/35		110,000		108,777
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		3.500	%		3/1/42		80,000		53,432
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.484	%		10/23/45		260,000		241,166
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		5/1/47		350,000		282,249
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.750	%		4/1/48		70,000		58,992

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Media - (continued)
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.250	%		4/1/53	$	160,000	$	126,855
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		3.950	%		6/30/62		80,000		48,326
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.500	%		4/1/63		210,000		164,887
Comcast Corp., Senior Notes		6.450	%		3/15/37		220,000		243,493
Comcast Corp., Senior Notes		6.950	%		8/15/37		160,000		184,703
Comcast Corp., Senior Notes		6.400	%		5/15/38		950,000		1,029,387
DISH DBS Corp., Senior Secured Notes		5.750	%		12/1/28		160,000		110,261	^(a)
Fox Corp., Senior Notes		5.476	%		1/25/39		510,000		485,702
Time Warner Cable Enterprises LLC, Senior Secured Notes		8.375	%		7/15/33		410,000		457,957
Time Warner Cable LLC, Senior Secured Notes		6.550	%		5/1/37		180,000		170,272
Time Warner Cable LLC, Senior Secured Notes		7.300	%		7/1/38		200,000		202,174
Time Warner Cable LLC, Senior Secured Notes		6.750	%		6/15/39		10,000		9,532
Time Warner Cable LLC, Senior Secured Notes		5.500	%		9/1/41		50,000		41,664

Total Media									4,486,294

Wireless Telecommunication Services - 1.3%
America Movil SAB de CV, Senior Notes		6.125	%		3/30/40		850,000		900,157
Sprint LLC, Senior Notes		7.125	%		6/15/24		150,000		150,351
T-Mobile USA Inc., Senior Notes		4.375	%		4/15/40		60,000		53,468
T-Mobile USA Inc., Senior Notes		4.500	%		4/15/50		210,000		182,159
T-Mobile USA Inc., Senior Notes		3.400	%		10/15/52		230,000		163,282
Vodafone Group PLC, Senior Notes		5.250	%		5/30/48		210,000		200,714
Vodafone Group PLC, Senior Notes		4.250	%		9/17/50		10,000		8,079

Total Wireless Telecommunication Services									1,658,210

TOTAL COMMUNICATION SERVICES									10,874,422

CONSUMER DISCRETIONARY - 6.4%
Automobile Components - 0.3%
ZF North America Capital Inc., Senior Notes		4.750	%		4/29/25		400,000		395,316	^(a)

Automobiles - 1.9%
Ford Motor Co., Senior Notes		3.250	%		2/12/32		290,000		241,387
Ford Motor Credit Co. LLC, Senior Notes		2.700	%		8/10/26		400,000		372,986
General Motors Co., Senior Notes		6.125	%		10/1/25		190,000		191,679
General Motors Co., Senior Notes		6.600	%		4/1/36		170,000		180,872
General Motors Co., Senior Notes		6.750	%		4/1/46		270,000		291,974

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Automobiles - (continued)
Hyundai Capital America, Senior Notes		5.250	%		1/8/27	$	200,000	$	199,876	^(a)
Nissan Motor Co. Ltd., Senior Notes		4.810	%		9/17/30		200,000		186,891	^(a)
Volkswagen Group of America Finance LLC, Senior Notes		5.250	%		3/22/29		620,000		620,725	^(a)

Total Automobiles									2,286,390

Broadline Retail - 0.6%
Amazon.com Inc., Senior Notes		3.950	%		4/13/52		330,000		277,259
MercadoLibre Inc., Senior Notes		2.375	%		1/14/26		470,000		440,815

Total Broadline Retail									718,074

Diversified Consumer Services - 0.2%
California Institute of Technology, Senior Notes		3.650	%		9/1/2119		110,000		76,553
Washington University, Senior Notes		3.524	%		4/15/54		90,000		70,365
Washington University, Senior Notes		4.349	%		4/15/2122		110,000		92,714

Total Diversified Consumer Services									239,632

Hotels, Restaurants & Leisure - 2.4%
Genting New York LLC/GENNY Capital Inc., Senior Notes		3.300	%		2/15/26		550,000		527,929	^(a)
Marriott International Inc., Senior Notes		3.600	%		4/15/24		200,000		199,812
McDonald’s Corp., Senior Notes		4.700	%		12/9/35		150,000		146,012
McDonald’s Corp., Senior Notes		4.875	%		12/9/45		230,000		214,808
McDonald’s Corp., Senior Notes		4.450	%		9/1/48		10,000		8,779
Melco Resorts Finance Ltd., Senior Notes		5.375	%		12/4/29		380,000		348,327	^(a)
Royal Caribbean Cruises Ltd., Senior Notes		3.700	%		3/15/28		270,000		251,490
Sands China Ltd., Senior Notes		5.125	%		8/8/25		450,000		444,203
Sands China Ltd., Senior Notes		5.400	%		8/8/28		200,000		196,268
Sands China Ltd., Senior Notes		4.625	%		6/18/30		200,000		183,562
Sands China Ltd., Senior Notes		3.250	%		8/8/31		330,000		276,530
Wynn Macau Ltd., Senior Notes		5.500	%		10/1/27		240,000		229,921	^(a)

Total Hotels, Restaurants & Leisure									3,027,641

Household Durables - 0.4%
Lennar Corp., Senior Notes		5.000	%		6/15/27		190,000		189,059
MDC Holdings Inc., Senior Notes		2.500	%		1/15/31		100,000		86,193
MDC Holdings Inc., Senior Notes		6.000	%		1/15/43		200,000		203,429

Total Household Durables									478,681

Specialty Retail - 0.6%
Home Depot Inc., Senior Notes		3.625	%		4/15/52		270,000		206,430
Lithia Motors Inc., Senior Notes		4.625	%		12/15/27		110,000		105,729	^(a)
Lithia Motors Inc., Senior Notes		3.875	%		6/1/29		190,000		171,410	^(a)

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Specialty Retail - (continued)
Lowe’s Cos. Inc., Senior Notes		3.750	%		4/1/32	$	80,000	$	73,515
Lowe’s Cos. Inc., Senior Notes		4.250	%		4/1/52		280,000		229,648

Total Specialty Retail									786,732

TOTAL CONSUMER DISCRETIONARY									7,932,466

CONSUMER STAPLES - 3.7%
Beverages - 1.4%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.900	%		2/1/46		840,000		798,782
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.600	%		4/15/48		70,000		64,041
Coca-Cola Co., Senior Notes		4.125	%		3/25/40		180,000		157,878
Coca-Cola Co., Senior Notes		4.200	%		3/25/50		110,000		97,737
Pernod Ricard SA, Senior Notes		5.500	%		1/15/42		670,000		682,676	^(a)

Total Beverages									1,801,114

Food Products - 0.3%
J M Smucker Co., Senior Notes		6.200	%		11/15/33		230,000		245,475
Kraft Heinz Foods Co., Senior Notes		5.000	%		6/4/42		110,000		103,331

Total Food Products									348,806

Tobacco - 2.0%
Altria Group Inc., Senior Notes		4.400	%		2/14/26		410,000		404,137
Altria Group Inc., Senior Notes		4.800	%		2/14/29		870,000		861,945
Imperial Brands Finance PLC, Senior Notes		6.125	%		7/27/27		330,000		336,797	^(a)
Philip Morris International Inc., Senior Notes		4.500	%		3/20/42		100,000		87,484
Reynolds American Inc., Senior Notes		8.125	%		5/1/40		270,000		313,120
Reynolds American Inc., Senior Notes		7.000	%		8/4/41		320,000		334,986
Reynolds American Inc., Senior Notes		5.850	%		8/15/45		90,000		83,568

Total Tobacco									2,422,037

TOTAL CONSUMER STAPLES									4,571,957

ENERGY - 14.5%
Energy Equipment & Services - 0.1%
Halliburton Co., Senior Notes		5.000	%		11/15/45		200,000		187,930

Oil, Gas & Consumable Fuels - 14.4%
Apache Corp., Senior Notes		6.000	%		1/15/37		106,000		105,504
Apache Corp., Senior Notes		5.100	%		9/1/40		20,000		17,177
Apache Corp., Senior Notes		5.250	%		2/1/42		90,000		76,003
Cameron LNG LLC, Senior Secured Notes		3.302	%		1/15/35		20,000		16,656	^(a)
Cameron LNG LLC, Senior Secured Notes		3.701	%		1/15/39		40,000		33,318	^(a)
Cheniere Energy Partners LP, Senior Notes		3.250	%		1/31/32		220,000		187,577
Chesapeake Energy Corp., Senior Notes		6.750	%		4/15/29		170,000		171,959	^(a)

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Oil, Gas & Consumable Fuels - (continued)
Columbia Pipelines Operating Co. LLC, Senior Notes		6.036	%		11/15/33	$	290,000	$	300,617	^(a)
Columbia Pipelines Operating Co. LLC, Senior Notes		6.544	%		11/15/53		240,000		260,240	^(a)
ConocoPhillips, Senior Notes		6.500	%		2/1/39		810,000		919,461
Continental Resources Inc., Senior Notes		2.268	%		11/15/26		80,000		73,667	^(a)
Continental Resources Inc., Senior Notes		4.375	%		1/15/28		140,000		135,341
Continental Resources Inc., Senior Notes		2.875	%		4/1/32		120,000		97,844	^(a)
Continental Resources Inc., Senior Notes		4.900	%		6/1/44		90,000		74,882
Devon Energy Corp., Senior Notes		5.850	%		12/15/25		350,000		352,053
Devon Energy Corp., Senior Notes		5.600	%		7/15/41		320,000		308,751
Diamondback Energy Inc., Senior Notes		6.250	%		3/15/53		230,000		248,403
Ecopetrol SA, Senior Notes		5.375	%		6/26/26		540,000		531,350
Ecopetrol SA, Senior Notes		5.875	%		11/2/51		260,000		187,331
Energy Transfer LP, Junior Subordinated Notes (6.750% to 5/15/25 then 5 year Treasury Constant Maturity Rate + 5.134%)		6.750	%		5/15/25		210,000		207,150	^(b)(c)
Energy Transfer LP, Junior Subordinated Notes (7.125% to 5/15/30 then 5 year Treasury Constant Maturity Rate + 5.306%)		7.125	%		5/15/30		560,000		548,120	^(b)(c)
Energy Transfer LP, Senior Notes		8.000	%		4/1/29		350,000		363,863	^(a)
Energy Transfer LP, Senior Notes		5.250	%		4/15/29		30,000		30,043
Energy Transfer LP, Senior Notes		8.250	%		11/15/29		160,000		182,129
Energy Transfer LP, Senior Notes		6.625	%		10/15/36		20,000		21,189
Energy Transfer LP, Senior Notes		5.800	%		6/15/38		40,000		39,926
Enterprise Products Operating LLC, Senior Notes		6.125	%		10/15/39		320,000		343,510
Enterprise Products Operating LLC, Senior Notes		3.300	%		2/15/53		150,000		106,582
Enterprise Products Operating LLC, Senior Notes		3.950	%		1/31/60		100,000		77,833
Enterprise Products Operating LLC, Senior Notes (5.375% to 2/15/28 then 3 mo. Term SOFR + 2.832%)		5.375	%		2/15/78		430,000		401,822	^(c)
EOG Resources Inc., Senior Notes		4.375	%		4/15/30		240,000		234,959
Exxon Mobil Corp., Senior Notes		4.227	%		3/19/40		140,000		127,617
KazMunayGas National Co. JSC, Senior Notes		3.500	%		4/14/33		200,000		166,875	^(a)
Kinder Morgan Inc., Senior Notes		7.800	%		8/1/31		2,000,000		2,269,485
MPLX LP, Senior Notes		4.800	%		2/15/29		60,000		59,293
MPLX LP, Senior Notes		4.500	%		4/15/38		380,000		337,624
Occidental Petroleum Corp., Senior Notes		7.500	%		5/1/31		465,000		517,897
Occidental Petroleum Corp., Senior Notes		7.875	%		9/15/31		190,000		215,516
ONEOK Inc., Senior Notes		6.050	%		9/1/33		460,000		479,981

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Oil, Gas & Consumable Fuels - (continued)
ONEOK Inc., Senior Notes		6.625	%		9/1/53	$	460,000	$	507,310
Parsley Energy LLC/Parsley Finance Corp., Senior Notes		4.125	%		2/15/28		200,000		191,006	^(a)
Petrobras Global Finance BV, Senior Notes		7.375	%		1/17/27		190,000		197,645
Petrobras Global Finance BV, Senior Notes		6.900	%		3/19/49		280,000		271,807
Petrobras Global Finance BV, Senior Notes		5.500	%		6/10/51		100,000		81,387
Petrobras Global Finance BV, Senior Notes		6.850	%		6/5/2115		300,000		278,569
Phillips 66, Senior Notes		5.875	%		5/1/42		160,000		168,227
QatarEnergy, Senior Notes		3.300	%		7/12/51		490,000		347,008	^(a)
Reliance Industries Ltd., Senior Notes		3.625	%		1/12/52		300,000		216,898	^(a)
Shell International Finance BV, Senior Notes		6.375	%		12/15/38		250,000		283,048
Targa Resources Corp., Senior Notes		4.950	%		4/15/52		160,000		140,317
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		6.875	%		1/15/29		490,000		504,484
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		7.850	%		2/1/26		470,000		487,787
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		7.250	%		12/1/26		230,000		239,385
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		3.250	%		5/15/30		130,000		117,719
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		5.400	%		8/15/41		310,000		310,636
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		3.950	%		5/15/50		30,000		23,747
Western Midstream Operating LP, Senior Notes		4.650	%		7/1/26		660,000		647,980
Western Midstream Operating LP, Senior Notes		4.750	%		8/15/28		680,000		662,017
Western Midstream Operating LP, Senior Notes		4.050	%		2/1/30		90,000		84,029
Western Midstream Operating LP, Senior Notes		5.450	%		4/1/44		80,000		73,588
Western Midstream Operating LP, Senior Notes		5.250	%		2/1/50		270,000		241,692
Williams Cos. Inc., Senior Notes		7.500	%		1/15/31		47,000		52,416
Williams Cos. Inc., Senior Notes		7.750	%		6/15/31		37,000		41,070
Williams Cos. Inc., Senior Notes		8.750	%		3/15/32		610,000		734,492
Williams Cos. Inc., Senior Notes		3.500	%		10/15/51		50,000		35,573

Total Oil, Gas & Consumable Fuels									17,769,385

TOTAL ENERGY									17,957,315

FINANCIALS - 33.2%
Banks - 19.4%
Banco Mercantil del Norte SA, Junior Subordinated Notes (7.500% to 6/27/29 then 10 year Treasury Constant Maturity Rate + 5.470%)		7.500	%		6/27/29		200,000		199,641	^(a)(b)(c)

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Banks - (continued)
Banco Mercantil del Norte SA, Junior Subordinated Notes (8.375% to 10/14/30 then 10 year Treasury Constant Maturity Rate + 7.760%)		8.375	%		10/14/30	$	250,000	$	256,729	^(a)(b)(c)
Banco Santander SA, Senior Notes		5.294	%		8/18/27		400,000		399,229
Banco Santander SA, Senior Notes		3.490	%		5/28/30		200,000		181,462
Bank of America Corp., Senior Notes		5.875	%		2/7/42		320,000		341,659
Bank of America Corp., Senior Notes (4.083% to 3/20/50 then 3 mo. Term SOFR + 3.412%)		4.083	%		3/20/51		160,000		131,301	^(c)
Bank of America Corp., Subordinated Notes		6.110	%		1/29/37		320,000		340,093
Bank of America Corp., Subordinated Notes		7.750	%		5/14/38		900,000		1,092,730
Bank of Nova Scotia, Junior Subordinated Notes (8.000% to 1/27/29 then 5 year Treasury Constant Maturity Rate + 4.017%)		8.000	%		1/27/84		360,000		367,228	^(c)
Bank of Nova Scotia, Subordinated Notes (4.588% to 5/4/32 then 5 year Treasury Constant Maturity Rate + 2.050%)		4.588	%		5/4/37		390,000		353,842	^(c)
Barclays PLC, Junior Subordinated Notes (6.125% to 6/15/26 then 5 year Treasury Constant Maturity Rate + 5.867%)		6.125	%		12/15/25		1,060,000		1,024,363	^(b)(c)
Barclays PLC, Subordinated Notes (5.088% to 6/20/29 then 3 mo. USD LIBOR + 3.054%)		5.088	%		6/20/30		640,000		616,886	^(c)
BNP Paribas SA, Junior Subordinated Notes (8.500% to 8/14/28 then 5 year Treasury Constant Maturity Rate + 4.354%)		8.500	%		8/14/28		940,000		984,887	^(a)(b)(c)
BNP Paribas SA, Senior Notes (5.198% to 1/10/29 then 3 mo. Term SOFR + 2.829%)		5.198	%		1/10/30		280,000		278,580	^(a)(c)
BPCE SA, Senior Notes (6.714% to 10/19/28 then SOFR + 2.270%)		6.714	%		10/19/29		350,000		366,348	^(a)(c)
BPCE SA, Subordinated Notes		5.150	%		7/21/24		410,000		408,318	^(a)
BPCE SA, Subordinated Notes (3.582% to 10/19/41 then SOFR + 1.952%)		3.582	%		10/19/42		270,000		195,398	^(a)(c)
Citigroup Inc., Senior Notes		8.125	%		7/15/39		251,000		321,393
Citigroup Inc., Senior Notes		5.875	%		1/30/42		240,000		254,037
Citigroup Inc., Senior Notes (3.785% to 3/17/32 then SOFR + 1.939%)		3.785	%		3/17/33		420,000		375,350	^(c)
Citigroup Inc., Subordinated Notes		5.500	%		9/13/25		750,000		749,941
Citigroup Inc., Subordinated Notes		6.125	%		8/25/36		404,000		421,229
Citigroup Inc., Subordinated Notes		6.675	%		9/13/43		370,000		415,163
Citigroup Inc., Subordinated Notes (6.174% to 5/25/33 then SOFR + 2.661%)		6.174	%		5/25/34		250,000		254,003	^(c)

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Banks - (continued)
Commonwealth Bank of Australia, Subordinated Notes		3.743	%		9/12/39	$	220,000	$	175,911	^(a)
Cooperatieve Rabobank UA, Senior Notes		5.750	%		12/1/43		450,000		458,904
Cooperatieve Rabobank UA, Senior Notes		5.250	%		8/4/45		340,000		333,958
Cooperatieve Rabobank UA, Senior Notes (3.758% to 4/6/32 then 1 year Treasury Constant Maturity Rate + 1.420%)		3.758	%		4/6/33		350,000		312,491	^(a)(c)
Credit Agricole SA, Junior Subordinated Notes (8.125% to 12/23/25 then USD 5 year ICE Swap Rate + 6.185%)		8.125	%		12/23/25		1,040,000		1,062,818	^(a)(b)(c)
Credit Agricole SA, Senior Notes (6.316% to 10/3/28 then SOFR + 1.860%)		6.316	%		10/3/29		290,000		300,797	^(a)(c)
HSBC Holdings PLC, Junior Subordinated Notes (4.600% to 6/17/31 then 5 year Treasury Constant Maturity Rate + 3.649%)		4.600	%		12/17/30		320,000		271,513	^(b)(c)
HSBC Holdings PLC, Junior Subordinated Notes (6.500% to 3/23/28 then USD 5 year ICE Swap Rate + 3.606%)		6.500	%		3/23/28		300,000		294,345	^(b)(c)
HSBC Holdings PLC, Senior Notes		4.950	%		3/31/30		200,000		198,680
HSBC Holdings PLC, Senior Notes (5.546% to 3/4/29 then SOFR + 1.460%)		5.546	%		3/4/30		340,000		342,141	^(c)
HSBC Holdings PLC, Senior Notes (6.254% to 3/9/33 then SOFR + 2.390%)		6.254	%		3/9/34		840,000		885,714	^(c)
HSBC Holdings PLC, Subordinated Notes		7.625	%		5/17/32		70,000		78,460
HSBC Holdings PLC, Subordinated Notes (4.762% to 3/29/32 then SOFR + 2.530%)		4.762	%		3/29/33		400,000		372,034	^(c)
Intesa Sanpaolo SpA, Senior Notes		7.000	%		11/21/25		200,000		203,781	^(a)
Intesa Sanpaolo SpA, Senior Notes		4.700	%		9/23/49		200,000		151,946	^(a)
Intesa Sanpaolo SpA, Senior Notes (7.778% to 6/20/53 then 1 year Treasury Constant Maturity Rate + 3.900%)		7.778	%		6/20/54		220,000		234,823	^(a)(c)
Intesa Sanpaolo SpA, Subordinated Notes (4.198% to 6/1/31 then 1 year Treasury Constant Maturity Rate + 2.600%)		4.198	%		6/1/32		200,000		167,353	^(a)(c)
Intesa Sanpaolo SpA, Subordinated Notes (4.950% to 6/1/41 then 1 year Treasury Constant Maturity Rate + 2.750%)		4.950	%		6/1/42		200,000		149,316	^(a)(c)
JPMorgan Chase & Co., Junior Subordinated Notes (3 mo. Term SOFR + 3.562%)		8.868	%		5/1/24		260,000		260,203	^(b)(c)
JPMorgan Chase & Co., Senior Notes (3.897% to 1/23/48 then 3 mo. Term SOFR + 1.482%)		3.897	%		1/23/49		50,000		40,781	^(c)

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Banks - (continued)
JPMorgan Chase & Co., Subordinated Notes		5.625	%		8/16/43	$	440,000	$	458,608
JPMorgan Chase & Co., Subordinated Notes		4.950	%		6/1/45		490,000		466,264
Lloyds Banking Group PLC, Junior Subordinated Notes (7.500% to 6/27/24 then USD 5 year ICE Swap Rate + 4.760%)		7.500	%		6/27/24		360,000		358,134	^(b)(c)
Lloyds Banking Group PLC, Junior Subordinated Notes (7.500% to 9/27/25 then USD 5 year ICE Swap Rate + 4.496%)		7.500	%		9/27/25		370,000		369,446	^(b)(c)
Lloyds Banking Group PLC, Junior Subordinated Notes (8.000% to 3/27/30 then 5 year Treasury Constant Maturity Rate + 3.913%)		8.000	%		9/27/29		270,000		272,529	^(b)(c)
Mitsubishi UFJ Financial Group Inc., Senior Notes (4.315% to 4/19/32 then 1 year Treasury Constant Maturity Rate + 1.550%)		4.315	%		4/19/33		330,000		312,402	^(c)
NatWest Group PLC, Subordinated Notes (3.754% to 11/1/24 then 5 year Treasury Constant Maturity Rate + 2.100%)		3.754	%		11/1/29		230,000		226,133	^(c)
Santander UK Group Holdings PLC, Subordinated Notes		4.750	%		9/15/25		210,000		206,209	^(a)
Standard Chartered PLC, Subordinated Notes		5.700	%		3/26/44		410,000		407,697	^(a)
Swedbank AB, Senior Notes		5.407	%		3/14/29		310,000		310,382	^(a)
Truist Financial Corp., Senior Notes (5.867% to 6/8/33 then SOFR + 2.361%)		5.867	%		6/8/34		250,000		253,158	^(c)
Truist Financial Corp., Senior Notes (7.161% to 10/30/28 then SOFR + 2.446%)		7.161	%		10/30/29		230,000		245,351	^(c)
UniCredit SpA, Subordinated Notes (7.296% to 4/2/29 then USD 5 year ICE Swap Rate + 4.914%)		7.296	%		4/2/34		1,040,000		1,069,782	^(a)(c)
US Bancorp, Senior Notes (5.836% to 6/10/33 then SOFR + 2.260%)		5.836	%		6/12/34		300,000		305,891	^(c)
Wells Fargo & Co., Senior Notes (4.611% to 4/25/52 then SOFR + 2.130%)		4.611	%		4/25/53		380,000		336,100	^(c)
Wells Fargo & Co., Senior Notes (5.013% to 4/4/50 then 3 mo. Term SOFR + 4.502%)		5.013	%		4/4/51		230,000		216,094	^(c)
Wells Fargo & Co., Senior Notes (5.557% to 7/25/33 then SOFR + 1.990%)		5.557	%		7/25/34		570,000		572,449	^(c)
Wells Fargo & Co., Subordinated Notes		5.375	%		11/2/43		430,000		415,645
Wells Fargo & Co., Subordinated Notes		4.750	%		12/7/46		580,000		509,136
Westpac Banking Corp., Subordinated Notes		4.421	%		7/24/39		110,000		96,964

Total Banks									24,034,153

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Capital Markets - 7.5%
Charles Schwab Corp., Junior Subordinated Notes (4.000% to 12/1/30 then 10 year Treasury Constant Maturity Rate + 3.079%)		4.000	%		12/1/30	$	320,000	$	270,401	^(b)(c)
Charles Schwab Corp., Senior Notes (5.853% to 5/19/33 then SOFR + 2.500%)		5.853	%		5/19/34		260,000		266,420	^(c)
Charles Schwab Corp., Senior Notes (6.136% to 8/24/33 then SOFR + 2.010%)		6.136	%		8/24/34		600,000		626,310	^(c)
CI Financial Corp., Senior Notes		3.200	%		12/17/30		330,000		270,575
CI Financial Corp., Senior Notes		4.100	%		6/15/51		160,000		100,072
CME Group Inc., Senior Notes		5.300	%		9/15/43		440,000		449,648
Credit Suisse AG AT1 Claim		—			—		1,700,000		195,500	^*(d)
Credit Suisse USA Inc., Senior Notes		7.125	%		7/15/32		40,000		44,887
Goldman Sachs Group Inc., Junior Subordinated Notes (7.500% to 2/10/29 then 5 year Treasury Constant Maturity Rate + 3.156%)		7.500	%		2/10/29		100,000		106,434	^(b)(c)
Goldman Sachs Group Inc., Senior Notes		5.700	%		11/1/24		380,000		380,214
Goldman Sachs Group Inc., Senior Notes		6.250	%		2/1/41		570,000		621,133
Goldman Sachs Group Inc., Senior Notes (3.615% to 3/15/27 then SOFR + 1.846%)		3.615	%		3/15/28		740,000		708,028	^(c)
Goldman Sachs Group Inc., Subordinated Notes		6.750	%		10/1/37		640,000		699,542
Goldman Sachs Group Inc., Subordinated Notes		5.150	%		5/22/45		500,000		483,787
Intercontinental Exchange Inc., Senior Notes		4.950	%		6/15/52		250,000		236,270
Intercontinental Exchange Inc., Senior Notes		5.200	%		6/15/62		260,000		255,312
KKR Group Finance Co. III LLC, Senior Notes		5.125	%		6/1/44		820,000		758,118	^(a)
KKR Group Finance Co. VI LLC, Senior Notes		3.750	%		7/1/29		70,000		65,373	^(a)
KKR Group Finance Co. X LLC, Senior Notes		3.250	%		12/15/51		90,000		60,644	^(a)
Morgan Stanley, Senior Notes		6.375	%		7/24/42		90,000		101,658
Morgan Stanley, Senior Notes (4.889% to 7/20/32 then SOFR + 2.076%)		4.889	%		7/20/33		280,000		271,674	^(c)
Morgan Stanley, Subordinated Notes (5.297% to 4/20/32 then SOFR + 2.620%)		5.297	%		4/20/37		130,000		124,813	^(c)
Morgan Stanley, Subordinated Notes (5.948% to 1/19/33 then 5 year Treasury Constant Maturity Rate + 2.430%)		5.948	%		1/19/38		100,000		100,284	^(c)
Raymond James Financial Inc., Senior Notes		4.650	%		4/1/30		70,000		69,133
Raymond James Financial Inc., Senior Notes		4.950	%		7/15/46		90,000		82,864
State Street Corp., Junior Subordinated Notes (6.700% to 3/15/29 then 5 year Treasury Constant Maturity Rate + 2.613%)		6.700	%		3/15/29		250,000		254,306	^(b)(c)

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Capital Markets - (continued)
UBS Group AG, Junior Subordinated Notes (7.750% to 4/12/31 then USD 5 year SOFR ICE Swap Rate + 4.160%)		7.750	%		4/12/31	$	200,000	$	206,194	^(a)(b)(c)
UBS Group AG, Junior Subordinated Notes (9.250% to 11/13/33 then 5 year Treasury Constant Maturity Rate + 4.758%)		9.250	%		11/13/33		290,000		328,001	^(a)(b)(c)
UBS Group AG, Senior Notes (4.194% to 4/1/30 then SOFR + 3.730%)		4.194	%		4/1/31		250,000		232,293	^(a)(c)
UBS Group AG, Senior Notes (6.301% to 9/22/33 then 1 year Treasury Constant Maturity Rate + 2.000%)		6.301	%		9/22/34		230,000		240,890	^(a)(c)
UBS Group AG, Senior Notes (6.537% to 8/12/32 then SOFR + 3.920%)		6.537	%		8/12/33		380,000		400,891	^(a)(c)
UBS Group AG, Senior Notes (9.016% to 11/15/32 then SOFR + 5.020%)		9.016	%		11/15/33		250,000		303,572	^(a)(c)

Total Capital Markets									9,315,241

Consumer Finance - 0.1%
Capital One Financial Corp., Senior Notes (5.817% to 2/1/33 then SOFR + 2.600%)		5.817	%		2/1/34		150,000		149,879	^(c)

Financial Services - 2.1%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.000	%		10/29/28		430,000		389,300
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.850	%		10/29/41		540,000		427,973
Carlyle Finance LLC, Senior Notes		5.650	%		9/15/48		110,000		106,722	^(a)
Carlyle Finance Subsidiary LLC, Senior Notes		3.500	%		9/19/29		150,000		138,970	^(a)
Carlyle Holdings II Finance LLC, Senior Notes		5.625	%		3/30/43		220,000		214,684	^(a)
Everest Reinsurance Holdings Inc., Senior Notes		3.500	%		10/15/50		140,000		98,309
ILFC E-Capital Trust I, Ltd. GTD (3 mo. Term SOFR + 1.812%)		7.145	%		12/21/65		470,000		368,285	^(a)(c)
ILFC E-Capital Trust II, Ltd. GTD (3 mo. Term SOFR + 2.062%)		7.395	%		12/21/65		270,000		216,820	^(a)(c)
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc., Senior Notes		2.875	%		10/15/26		160,000		147,977	^(a)
Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc., Senior Notes		4.000	%		10/15/33		140,000		118,730	^(a)
SMBC Aviation Capital Finance DAC, Senior Notes		5.300	%		4/3/29		380,000		379,306	^(a)(e)

Total Financial Services									2,607,076

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Insurance - 3.7%
Allianz SE, Junior Subordinated Notes (3.500% to 4/30/26 then 5 year Treasury Constant Maturity Rate + 2.973%)		3.500	%		11/17/25	$	200,000	$	186,001	^(a)(b)(c)
Allstate Corp., Junior Subordinated Notes (6.500% to 5/15/37 then 3 mo. USD LIBOR + 2.120%)		6.500	%		5/15/57		480,000		488,890	^(c)
American International Group Inc., Junior Subordinated Notes		6.250	%		3/15/37		80,000		73,598
American International Group Inc., Senior Notes		4.750	%		4/1/48		70,000		64,744
Americo Life Inc., Senior Notes		3.450	%		4/15/31		80,000		62,737	^(a)
AXA SA, Subordinated Notes		8.600	%		12/15/30		200,000		236,378
Fidelity & Guaranty Life Holdings Inc., Senior Notes		5.500	%		5/1/25		230,000		228,129	^(a)
Liberty Mutual Insurance Co., Subordinated Notes		7.875	%		10/15/26		490,000		510,823	^(a)
Massachusetts Mutual Life Insurance Co., Subordinated Notes		4.900	%		4/1/77		260,000		220,255	^(a)
MetLife Inc., Junior Subordinated Notes		6.400	%		12/15/36		1,150,000		1,179,374
New York Life Insurance Co., Subordinated Notes		4.450	%		5/15/69		90,000		73,442	^(a)
Nippon Life Insurance Co., Subordinated Notes (2.750% to 1/21/31 then 5 year Treasury Constant Maturity Rate + 2.653%)		2.750	%		1/21/51		200,000		167,252	^(a)(c)
Northwestern Mutual Life Insurance Co., Subordinated Notes		3.625	%		9/30/59		110,000		77,542	^(a)
Prudential Financial Inc., Junior Subordinated Notes (6.500% to 3/15/34 then 5 year Treasury Constant Maturity Rate + 2.404%)		6.500	%		3/15/54		120,000		121,959	^(c)
Prudential Financial Inc., Junior Subordinated Notes (6.750% to 3/1/33 then 5 year Treasury Constant Maturity Rate + 2.848%)		6.750	%		3/1/53		170,000		177,173	^(c)
RenaissanceRe Holdings Ltd., Senior Notes		5.750	%		6/5/33		190,000		191,715
Teachers Insurance & Annuity Association of America, Subordinated Notes		6.850	%		12/16/39		400,000		455,223	^(a)

Total Insurance									4,515,235

Mortgage Real Estate Investment Trusts (REITs) - 0.4%
Blackstone Holdings Finance Co. LLC, Senior Notes		6.200	%		4/22/33		450,000		473,278	^(a)

TOTAL FINANCIALS									41,094,862

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
HEALTH CARE - 7.6%
Biotechnology - 1.5%
AbbVie Inc., Senior Notes		4.050	%		11/21/39	$	740,000	$	659,315
Amgen Inc., Senior Notes		5.250	%		3/2/33		740,000		746,560
Amgen Inc., Senior Notes		5.650	%		3/2/53		300,000		305,904
Amgen Inc., Senior Notes		5.750	%		3/2/63		110,000		112,282
Gilead Sciences Inc., Senior Notes		5.650	%		12/1/41		60,000		61,794
Gilead Sciences Inc., Senior Notes		4.750	%		3/1/46		50,000		45,958

Total Biotechnology									1,931,813

Health Care Equipment & Supplies - 0.4%
Abbott Laboratories, Senior Notes		4.900	%		11/30/46		90,000		87,913
Becton Dickinson & Co., Senior Notes		4.669	%		6/6/47		410,000		367,701

Total Health Care Equipment & Supplies									455,614

Health Care Providers & Services - 4.3%
Centene Corp., Senior Notes		4.250	%		12/15/27		100,000		95,423
Centene Corp., Senior Notes		4.625	%		12/15/29		360,000		342,034
Centene Corp., Senior Notes		3.375	%		2/15/30		500,000		442,786
Cigna Group, Senior Notes		4.800	%		8/15/38		340,000		319,593
CVS Health Corp., Senior Notes		4.100	%		3/25/25		530,000		523,528
CVS Health Corp., Senior Notes		4.300	%		3/25/28		540,000		527,140
CVS Health Corp., Senior Notes		4.780	%		3/25/38		570,000		526,643
CVS Health Corp., Senior Notes		5.125	%		7/20/45		340,000		313,537
CVS Health Corp., Senior Notes		5.050	%		3/25/48		560,000		508,917
Dartmouth-Hitchcock Health, Secured Bonds		4.178	%		8/1/48		100,000		80,561
Elevance Health Inc., Senior Notes		5.350	%		10/15/25		320,000		320,290
HCA Inc., Senior Notes		4.125	%		6/15/29		210,000		198,936
HCA Inc., Senior Notes		5.125	%		6/15/39		110,000		103,909
HCA Inc., Senior Notes		5.500	%		6/15/47		220,000		209,314
HCA Inc., Senior Notes		5.250	%		6/15/49		350,000		319,706
Humana Inc., Senior Notes		8.150	%		6/15/38		80,000		97,466
Humana Inc., Senior Notes		4.800	%		3/15/47		150,000		132,422
Inova Health System Foundation, Senior Notes		4.068	%		5/15/52		90,000		77,144
Orlando Health Obligated Group, Senior Notes		4.089	%		10/1/48		170,000		145,078

Total Health Care Providers & Services									5,284,427

Pharmaceuticals - 1.4%
Bausch Health Cos. Inc., Senior Notes		5.000	%		1/30/28		80,000		36,421	^(a)
Bristol-Myers Squibb Co., Senior Notes		6.250	%		11/15/53		140,000		157,815
Pfizer Investment Enterprises Pte Ltd., Senior Notes		4.750	%		5/19/33		390,000		384,187

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Pharmaceuticals - (continued)
Pfizer Investment Enterprises Pte Ltd., Senior Notes		5.110	%		5/19/43	$	400,000	$	391,382
Pfizer Investment Enterprises Pte Ltd., Senior Notes		5.300	%		5/19/53		290,000		288,540
Pfizer Investment Enterprises Pte Ltd., Senior Notes		5.340	%		5/19/63		60,000		58,840
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		7.125	%		1/31/25		200,000		201,274
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		8.125	%		9/15/31		200,000		219,610
Zoetis Inc., Senior Notes		4.700	%		2/1/43		30,000		27,490

Total Pharmaceuticals									1,765,559

TOTAL HEALTH CARE									9,437,413

INDUSTRIALS - 5.9%
Aerospace & Defense - 1.9%
Avolon Holdings Funding Ltd., Senior Notes		3.950	%		7/1/24		140,000		139,201	^(a)
Avolon Holdings Funding Ltd., Senior Notes		4.250	%		4/15/26		530,000		511,723	^(a)
Boeing Co., Senior Notes		3.250	%		2/1/28		370,000		340,573
Boeing Co., Senior Notes		5.705	%		5/1/40		210,000		201,154
Boeing Co., Senior Notes		5.805	%		5/1/50		130,000		123,118
HEICO Corp., Senior Notes		5.350	%		8/1/33		240,000		240,913
Huntington Ingalls Industries Inc., Senior Notes		3.483	%		12/1/27		200,000		187,930
L3Harris Technologies Inc., Senior Notes		5.400	%		7/31/33		190,000		191,300
L3Harris Technologies Inc., Senior Notes		4.854	%		4/27/35		260,000		248,770
Lockheed Martin Corp., Senior Notes		4.500	%		5/15/36		40,000		38,032
RTX Corp., Senior Notes		4.625	%		11/16/48		110,000		97,861

Total Aerospace & Defense									2,320,575

Building Products - 0.1%
Carrier Global Corp., Senior Notes		3.577	%		4/5/50		100,000		74,590

Commercial Services & Supplies - 0.4%
Waste Connections Inc., Senior Notes		4.250	%		12/1/28		480,000		468,412

Construction & Engineering - 0.7%
Vinci SA, Senior Notes		3.750	%		4/10/29		890,000		852,150	^(a)

Ground Transportation - 0.2%
Union Pacific Corp., Senior Notes		4.375	%		11/15/65		320,000		252,097

Industrial Conglomerates - 0.6%
General Electric Co., Senior Notes		6.875	%		1/10/39		94,000		111,660

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Industrial Conglomerates - (continued)
Honeywell International Inc., Senior Notes		4.950	%		9/1/31	$	320,000	$	322,572
Honeywell International Inc., Senior Notes		5.000	%		2/15/33		350,000		354,162

Total Industrial Conglomerates									788,394

Machinery - 0.2%
Caterpillar Inc., Senior Notes		4.750	%		5/15/64		220,000		203,165

Passenger Airlines - 0.9%
American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes		5.500	%		4/20/26		82,500		81,990	^(a)
American Airlines Inc./AAdvantage Loyalty IP Ltd., Senior Secured Notes		5.750	%		4/20/29		110,000		108,212	^(a)
Delta Air Lines Inc., Senior Secured Notes		7.000	%		5/1/25		260,000		263,499	^(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.500	%		10/20/25		222,250		220,033	^(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.750	%		10/20/28		180,000		176,110	^(a)
Southwest Airlines Co., Senior Notes		5.125	%		6/15/27		190,000		189,708
United Airlines Pass-Through Trust		4.875	%		1/15/26		116,760		114,958

Total Passenger Airlines									1,154,510

Trading Companies & Distributors - 0.9%
Air Lease Corp., Senior Notes		5.850	%		12/15/27		320,000		325,075
Aircastle Ltd., Senior Notes		5.250	%		8/11/25		630,000		624,685	^(a)
Aviation Capital Group LLC, Senior Notes		5.500	%		12/15/24		180,000		179,354	^(a)

Total Trading Companies & Distributors									1,129,114

TOTAL INDUSTRIALS									7,243,007

INFORMATION TECHNOLOGY - 3.7%
Electronic Equipment, Instruments & Components - 0.3%
TD SYNNEX Corp., Senior Notes		1.250	%		8/9/24		380,000		373,882

IT Services - 0.3%
International Business Machines Corp., Senior Notes		3.500	%		5/15/29		110,000		103,640
Kyndryl Holdings Inc., Senior Notes		4.100	%		10/15/41		300,000		230,271

Total IT Services									333,911

Semiconductors & Semiconductor Equipment - 1.5%
Broadcom Inc., Senior Notes		4.150	%		11/15/30		113,000		106,904
Broadcom Inc., Senior Notes		4.300	%		11/15/32		370,000		347,789
Broadcom Inc., Senior Notes		3.187	%		11/15/36		14,000		11,147	^(a)
Broadcom Inc., Senior Notes		4.926	%		5/15/37		152,000		144,335	^(a)
Foundry JV Holdco LLC, Senior Secured Notes		5.875	%		1/25/34		300,000		300,785	^(a)
Intel Corp., Senior Notes		4.900	%		7/29/45		130,000		125,626

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Semiconductors & Semiconductor Equipment - (continued)
Intel Corp., Senior Notes		4.750	%		3/25/50	$	10,000	$	9,065
Intel Corp., Senior Notes		4.950	%		3/25/60		60,000		55,980
Intel Corp., Senior Notes		3.200	%		8/12/61		120,000		78,229
Micron Technology Inc., Senior Notes		3.366	%		11/1/41		30,000		22,306
NVIDIA Corp., Senior Notes		3.500	%		4/1/50		190,000		151,387
NVIDIA Corp., Senior Notes		3.700	%		4/1/60		80,000		63,847
Texas Instruments Inc., Senior Notes		4.600	%		2/15/28		250,000		250,215
Texas Instruments Inc., Senior Notes		3.875	%		3/15/39		270,000		241,822

Total Semiconductors & Semiconductor Equipment									1,909,437

Software - 1.2%
Microsoft Corp., Senior Notes		4.250	%		2/6/47		970,000		910,278
Oracle Corp., Senior Notes		3.950	%		3/25/51		310,000		236,375
Oracle Corp., Senior Notes		4.100	%		3/25/61		380,000		285,588

Total Software									1,432,241

Technology Hardware, Storage & Peripherals - 0.4%
Apple Inc., Senior Notes		3.850	%		8/4/46		340,000		287,878
Dell International LLC/EMC Corp., Senior Notes		8.100	%		7/15/36		120,000		145,166
Dell International LLC/EMC Corp., Senior Notes		8.350	%		7/15/46		30,000		38,842

Total Technology Hardware, Storage & Peripherals									471,886

TOTAL INFORMATION TECHNOLOGY									4,521,357

MATERIALS - 5.5%
Chemicals - 1.3%
Celanese US Holdings LLC, Senior Notes		5.900	%		7/5/24		310,000		310,091
Dow Chemical Co., Senior Notes		7.375	%		11/1/29		800,000		891,146
Ecolab Inc., Senior Notes		4.800	%		3/24/30		80,000		80,434
OCP SA, Senior Notes		3.750	%		6/23/31		200,000		170,985	^(a)
Sociedad Quimica y Minera de Chile SA, Senior Notes		3.500	%		9/10/51		240,000		164,335	^(a)

Total Chemicals									1,616,991

Metals & Mining - 3.8%
Anglo American Capital PLC, Senior Notes		4.000	%		9/11/27		500,000		477,411	^(a)
ArcelorMittal SA, Senior Notes		4.550	%		3/11/26		470,000		462,742
ArcelorMittal SA, Senior Notes		6.550	%		11/29/27		160,000		166,119
Barrick North America Finance LLC, Senior Notes		5.700	%		5/30/41		50,000		51,288
Barrick PD Australia Finance Pty Ltd., Senior Notes		5.950	%		10/15/39		180,000		187,377
Freeport-McMoRan Inc., Senior Notes		5.450	%		3/15/43		210,000		201,229
Glencore Finance Canada Ltd., Senior Notes		6.900	%		11/15/37		430,000		470,899	^(a)

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Metals & Mining - (continued)
Glencore Finance Canada Ltd., Senior Notes		5.550	%		10/25/42	$	150,000	$	144,770	^(a)
Glencore Funding LLC, Senior Notes		4.000	%		3/27/27		360,000		348,152	^(a)
Glencore Funding LLC, Senior Notes		3.875	%		10/27/27		170,000		163,186	^(a)
Glencore Funding LLC, Senior Notes		3.375	%		9/23/51		70,000		47,979	^(a)
Southern Copper Corp., Senior Notes		5.250	%		11/8/42		470,000		445,751
Vale Overseas Ltd., Senior Notes		6.875	%		11/21/36		1,148,000		1,227,722
Yamana Gold Inc., Senior Notes		4.625	%		12/15/27		350,000		335,169
Yamana Gold Inc., Senior Notes		2.630	%		8/15/31		30,000		25,029

Total Metals & Mining									4,754,823

Paper & Forest Products - 0.4%
Georgia-Pacific LLC, Senior Notes		7.375	%		12/1/25		250,000		257,614
Suzano Austria GmbH, Senior Notes		3.125	%		1/15/32		230,000		191,213

Total Paper & Forest Products									448,827

TOTAL MATERIALS									6,820,641

REAL ESTATE - 0.7%
Diversified REITs - 0.2%
VICI Properties LP, Senior Notes		5.750	%		4/1/34		190,000		188,377

Health Care REITs - 0.2%
Welltower OP LLC, Senior Notes		4.125	%		3/15/29		320,000		306,533

Residential REITs - 0.1%
Invitation Homes Operating Partnership LP, Senior Notes		4.150	%		4/15/32		80,000		73,262

Retail REITs - 0.2%
WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes		3.750	%		9/17/24		200,000		197,408	^(a)

Specialized REITs - 0.0%††
Extra Space Storage LP, Senior Notes		3.900	%		4/1/29		60,000		56,545

TOTAL REAL ESTATE									822,125

UTILITIES - 3.1%
Electric Utilities - 3.1%
CenterPoint Energy Houston Electric LLC, Senior Secured Bonds		4.500	%		4/1/44		210,000		187,679
Comision Federal de Electricidad, Senior Notes		3.348	%		2/9/31		200,000		167,485	^(a)
Edison International, Junior Subordinated Notes (5.375% to 3/15/26 then 5 year Treasury Constant Maturity Rate + 4.698%)		5.375	%		3/15/26		270,000		261,951	^(b)(c)
Enel Finance International NV, Senior Notes		6.800	%		10/14/25		330,000		336,734	^(a)
Exelon Corp., Senior Notes		4.050	%		4/15/30		120,000		113,231
FirstEnergy Corp., Senior Notes		4.150	%		7/15/27		310,000		297,560

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Electric Utilities - (continued)
FirstEnergy Corp., Senior Notes		7.375	%		11/15/31	$	830,000	$	977,917
MidAmerican Energy Co., First Mortgage Bonds		3.650	%		4/15/29		150,000		142,747
Ohio Edison Co., Senior Notes		5.500	%		1/15/33		90,000		89,869	^(a)
Pacific Gas and Electric Co., First Mortgage Bonds		3.300	%		8/1/40		20,000		14,700
Pacific Gas and Electric Co., First Mortgage Bonds		4.950	%		7/1/50		240,000		206,652
Pacific Gas and Electric Co., First Mortgage Bonds		6.750	%		1/15/53		140,000		152,708
PG&E Wildfire Recovery Funding LLC, Senior Secured Notes		5.081	%		6/1/41		120,000		119,474
PG&E Wildfire Recovery Funding LLC, Senior Secured Notes		5.212	%		12/1/47		30,000		29,937
Southern California Edison Co., First Mortgage Bonds		4.125	%		3/1/48		310,000		250,623
Virginia Electric & Power Co., Senior Notes		8.875	%		11/15/38		390,000		522,936

TOTAL UTILITIES									3,872,203

TOTAL CORPORATE BONDS & NOTES (Cost - $118,589,516)									115,147,768

SOVEREIGN BONDS - 3.8%
Argentina - 0.6%
Argentine Republic Government International Bond, Senior Notes		1.000	%		7/9/29		35,342		19,095
Argentine Republic Government International Bond, Senior Notes, Step bond (3.625% to 7/9/24 then 4.125%)		3.625	%		7/9/35		412,972		172,246
Provincia de Buenos Aires, Senior Notes, Step bond (6.375% to 9/1/24 then 6.625%)		6.375	%		9/1/37		1,329,161		546,554	^(a)

Total Argentina									737,895

Brazil - 0.3%
Brazilian Government International Bond, Senior Notes		6.125	%		3/15/34		330,000		326,933

Canada - 0.6%
Province of Quebec Canada, Senior Notes		7.970	%		7/22/36		650,000		802,461

Chile - 0.1%
Chile Government International Bond, Senior Notes		2.550	%		7/27/33		200,000		162,916

Colombia - 0.6%
Colombia Government International Bond, Senior Notes		4.500	%		3/15/29		870,000		802,967

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Indonesia - 0.2%
Indonesia Government International Bond, Senior Notes		4.350	%		1/11/48	$	240,000	$	210,001

Ivory Coast - 0.2%
Ivory Coast Government International Bond, Senior Notes		7.625	%		1/30/33		300,000		298,210	^(a)

Kenya - 0.4%
Republic of Kenya Government International Bond, Senior Notes		8.000	%		5/22/32		460,000		432,460	^(a)

Mexico - 0.8%
Mexico Government International Bond, Senior Notes		3.500	%		2/12/34		230,000		191,870
Mexico Government International Bond, Senior Notes		4.280	%		8/14/41		200,000		160,877
Mexico Government International Bond, Senior Notes		4.350	%		1/15/47		360,000		281,329
Mexico Government International Bond, Senior Notes		6.400	%		5/7/54		310,000		309,544

Total Mexico									943,620

TOTAL SOVEREIGN BONDS (Cost - $5,114,671)									4,717,463

MUNICIPAL BONDS - 1.1%
California - 0.7%
Los Angeles County, CA Public Works Financing Authority Revenue, Multiple Capital Projects I, Series 2010 B, Taxable Build America Bonds		7.618	%		8/1/40		650,000		801,305
Regents of the University of California Medical Center Pooled Revenue, Series Q		4.563	%		5/15/53		110,000		100,473

Total California									901,778

Florida - 0.1%
Sumter Landing, FL, Community Development District Recreational Revenue, Taxable Community Development District		4.172	%		10/1/47		170,000		151,356

Illinois - 0.3%
Illinois State, GO, Taxable, Build America Bonds, Series 2010-3		6.725	%		4/1/35		286,154		301,905

TOTAL MUNICIPAL BONDS (Cost - $1,474,700)									1,355,039

U.S. GOVERNMENT & AGENCY OBLIGATIONS - 0.2%
U.S. Government Obligations - 0.2%
U.S. Treasury Bonds		4.750	%		11/15/53		250,000		266,934
U.S. Treasury Notes		5.000	%		8/31/25		40,000		40,087

TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost - $305,632)									307,021

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

(Percentages shown based on Fund net assets)


SECURITY	RATE			SHARES		VALUE
PREFERRED STOCKS - 0.1%
FINANCIALS - 0.1%
Insurance - 0.1%
Delphi Financial Group Inc. (3 mo. Term SOFR + 3.452%) (Cost - $143,068)		8.759	%		5,725	$	138,573	^(c)

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $125,627,587)							121,665,864

SHORT-TERM INVESTMENTS - 0.9%
Western Asset Premier Institutional Government Reserves, Premium Shares (Cost - $1,120,029)		5.271	%		1,120,029		1,120,029	^(f)(g)

TOTAL INVESTMENTS - 99.2% (Cost - $126,747,616)							122,785,893
Other Assets in Excess of Liabilities - 0.8%							941,276

TOTAL NET ASSETS - 100.0%						$	123,727,169

††	Represents less than 0.1%.

*	Non-income producing security.

(a)

Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

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

(c)

Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(d)	Security is fair valued in accordance with procedures approved by the Board of Directors (Note 1).

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

(f)	Rate shown is one-day yield as of the end of the reporting period.

(g)

In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Fund ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At March 31, 2024, the total market value of investments in Affiliated Companies was $1,120,029 and the cost was $1,120,029 (Note 2).

Abbreviation(s) used in this schedule:


GO		— General Obligation
GTD		— Guaranteed
ICE		— Intercontinental Exchange
JSC		— Joint Stock Company
LIBOR		— London Interbank Offered Rate
SOFR		— Secured Overnight Financing Rate
USD		— United States Dollar

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

WESTERN ASSET INVESTMENT GRADE INCOME FUND INC.


Schedule of investments (unaudited) (cont’d)		March 31, 2024

At March 31, 2024, the Fund had the following open futures contracts:


	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy:
U.S. Treasury 2-Year Notes		43		6/24	$	8,808,352	$	8,792,828	$	(15,524	)
U.S. Treasury 5-Year Notes		51		6/24		5,451,529		5,457,797		6,268
U.S. Treasury Ultra Long-Term Bonds		23		6/24		2,918,486		2,967,000		48,514

										39,258

Contracts to Sell:
U.S. Treasury 10-Year Notes		1		6/24		111,483		110,797		686
U.S. Treasury Long-Term Bonds		51		6/24		6,055,362		6,142,313		(86,951	)
U.S. Treasury Ultra 10-Year Notes		26		6/24		2,958,543		2,979,844		(21,301	)

										(107,566	)

Net unrealized depreciation on open futures contracts									$	(68,308	)

This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.

See Notes to Schedule of Investments.

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

Western Asset Investment Grade Income Fund Inc. (the “Fund”) is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as a diversified, closed-end management investment company. The Fund’s primary investment objective is to seek a high level of current income, consistent with prudent investment risk, through investment in a diversified portfolio of debt securities. To a lesser extent, the Fund may also invest in privately placed debt securities and in certain equity securities. Capital appreciation is a secondary investment objective.

The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (“ASC 946”). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”), including, but not limited to, ASC 946.

(a) Investment valuation. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the adviser to be unreliable, the market price may be determined by the adviser using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.

Pursuant to policies adopted by the Board of Directors, the Fund’s adviser has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund’s adviser is assisted by the Global Fund Valuation Committee

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

Notes to Schedule of Investments (unaudited) (continued)

(the “Valuation Committee”). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Fund’s adviser and the Board of Directors. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

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

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Directors quarterly.

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

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

Notes to Schedule of Investments (unaudited) (continued)

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

•

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

•

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

•

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

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

The following is a summary of the inputs used in valuing the Fund’s assets and liabilities carried at fair value:


ASSETS
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Long-Term Investments†:
Corporate Bonds & Notes		—	$	115,147,768		—	$	115,147,768
Sovereign Bonds		—		4,717,463		—		4,717,463
Municipal Bonds		—		1,355,039		—		1,355,039
U.S. Government & Agency Obligations		—		307,021		—		307,021
Preferred Stocks		—		138,573		—		138,573

Total Long-Term Investments		—		121,665,864		—		121,665,864

Short-Term Investments†	$	1,120,029		—		—		1,120,029

Total Investments	$	1,120,029	$	121,665,864		—	$	122,785,893

Other Financial Instruments:
Futures Contracts††	$	55,468		—		—	$	55,468

Total	$	1,175,497	$	121,665,864		—	$	122,841,361


LIABILITIES
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Futures Contracts††	$	123,776		—		—	$	123,776

†	See Schedule of Investments for additional detailed categorizations.

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

Western Asset Investment Grade Income Fund Inc. 2024 Quarterly Report

Notes to Schedule of Investments (unaudited) (continued)

2. Transactions with affiliated company

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended March 31, 2024. The following transactions were effected in such company for the period ended March 31, 2024.


	Affiliate Value at December 31, 2023		Purchased				Sold				Realized Gain (Loss)		Dividend Income		Net Increase (Decrease) in Unrealized Appreciation (Depreciation)		Affiliate Value at March 31, 2024
	Affiliate Value at December 31, 2023		Cost		Shares		Proceeds		Shares		Realized Gain (Loss)		Dividend Income				Affiliate Value at March 31, 2024
Western Asset Premier Institutional Government Reserves, Premium Shares	$	1,282,190	$	3,874,117		3,874,117	$	4,036,278		4,036,278		—	$	18,189		—	$	1,120,029