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Form NPORT-P LEGG MASON PARTNERS INCO For: Jul 30

September 24, 2021 5:27 PM EDT

  
    NPORT-P
    false
    
      
      
        
          0000764624
          XXXXXXXX
        
      
      
      
      
        S000016636
        C000046462
        C000046459
        C000046461
      
      
    
  
  
    
      Legg Mason Partners Income Trust
      811-04254
      0000764624
      549300Y1U2UCLTK83X35
      620 Eighth Avenue
      47th Floor
      New York
      
      10018
      1-877-721-1926
      Western Asset Oregon Municipals Fund
      S000016636
      549300FZYBFQSLW5NM65
      2022-04-30
      2021-07-30
      N
    
    
      67783372.44
      184206.31
      67599166.13
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      7141.15000000
      
        
          USD
          
          
        
      
      
      
      N
      
        
          
          
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        OREGON ST
        549300R5SUGZRD8KP359
        State of Oregon
        68609TF45
        
          
        
        3500000.00000000
        PA
        USD
        4290877.50000000
        6.347530222115
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2046-05-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PORT OF PORTLAND OR ARPT REVEN
        N/A
        Port of Portland OR Airport Revenue
        735240V59
        
          
        
        750000.00000000
        PA
        USD
        879573.38000000
        1.301160103526
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2025-07-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WASHINGTON MULTNOMAH & YAMHILL
        N/A
        Hillsboro School District No 1J
        939307JK1
        
          
        
        2500000.00000000
        PA
        USD
        3075926.00000000
        4.550242519389
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2038-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WASHINGTON & CLACKAMAS CNTYS O
        N/A
        Washington & Clackamas Counties School District No 23J Tigard-Tualatin
        938395SS0
        
          
        
        2000000.00000000
        PA
        USD
        2577025.00000000
        3.812214184778
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2038-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MARION CNTY OR SCH DIST #103 W
        N/A
        Marion County School District No 103 Woodburn/OR
        569280DK3
        
          
        
        1000000.00000000
        PA
        USD
        1170996.90000000
        1.732265303018
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2035-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CLACKAMAS CNTY OR SCH DIST #62
        N/A
        Oregon City School District No 62
        179162GZ9
        
          
        
        1000000.00000000
        PA
        USD
        1260964.40000000
        1.865354962478
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2043-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        POLK MARION & BENTON OR SCH DI
        N/A
        Polk Marion & Benton Counties School District No 13J Central
        731418KH1
        
          
        
        2000000.00000000
        PA
        USD
        1630253.00000000
        2.411646612422
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2033-06-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LANE CNTY OR SCH DIST #19 SPRI
        N/A
        Lane County School District No 19 Springfield
        515318LH4
        
          
        
        2435000.00000000
        PA
        USD
        1892331.27000000
        2.799341143292
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2035-06-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LANE & DOUGLAS CNTYS OR SCH DI
        N/A
        Lane & Douglas Counties School District No 28J Fern Ridge
        515160CX5
        
          
        
        2115000.00000000
        PA
        USD
        2563681.81000000
        3.792475494549
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2033-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO SALES TAX FING COR
        N/A
        Puerto Rico Sales Tax Financing Corp Sales Tax Revenue
        74529JRH0
        
          
        
        130000.00000000
        PA
        USD
        148064.68000000
        0.219033293569
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2040-07-01
          Fixed
          4.32900000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MARION CNTY OR SCH DIST #103 W
        N/A
        Marion County School District No 103 Woodburn/OR
        569280DJ6
        
          
        
        1000000.00000000
        PA
        USD
        1171836.30000000
        1.733507034312
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2034-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UNIV OF OREGON OR GEN REVENUE
        549300FHOP2K4GYRPY40
        University of Oregon
        914767AB4
        
          
        
        4000000.00000000
        PA
        USD
        4729086.80000000
        6.995776827935
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2046-04-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        YAMHILL CNTY OR HOSP AUTH
        N/A
        Yamhill County Hospital Authority
        98464UAR7
        
          
        
        400000.00000000
        PA
        USD
        440701.60000000
        0.651933485617
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2046-11-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MULTNOMAH CNTY OR HOSP FACS AU
        549300GAP0JIG7V33754
        Hospital Facilities Authority of Multnomah County Oregon
        62551PCX3
        
          
        
        2000000.00000000
        PA
        USD
        2262951.60000000
        3.347602832330
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2040-03-01
          Variable
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO SALES TAX FING COR
        N/A
        Puerto Rico Sales Tax Financing Corp Sales Tax Revenue
        74529JPX7
        
          
          
        
        620000.00000000
        PA
        USD
        724488.60000000
        1.071741918541
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2058-07-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CLACKAMAS RIVER WTR OR WTR REV
        N/A
        Clackamas River Water
        17939MCM1
        
          
        
        1000000.00000000
        PA
        USD
        1146083.40000000
        1.695410558461
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2043-11-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SALEM OR HOSP FAC AUTH REVENUE
        N/A
        Salem Hospital Facility Authority
        794458EW5
        
          
        
        630000.00000000
        PA
        USD
        731019.30000000
        1.081402836529
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2043-05-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MULTNOMAH-CLACKAMAS CNTYS OR C
        N/A
        Multnomah-Clackamas Counties Centennial School District No 28JT/OR
        625485DQ7
        
          
        
        1000000.00000000
        PA
        USD
        1298498.30000000
        1.920879168099
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2045-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO ELEC PWR AUTH PWR
        5493003BRB67HF8ST418
        Puerto Rico Electric Power Authority
        74526QV33
        
          
        
        200000.00000000
        PA
        USD
        196250.00000000
        0.290314232016
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2042-07-01
          Fixed
          5.00000000
          Y
          Y
          N
        
        
          N
          N
          N
        
      
      
        WASHINGTON CLACKAMAS & YAMHILL
        N/A
        Washington Clackamas & Yamhill Counties School District No 88J
        937440EQ4
        
          
        
        1250000.00000000
        PA
        USD
        1552715.88000000
        2.296945315884
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2033-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MEDFORD OR HOSP FACS AUTH REVE
        N/A
        Medford Hospital Facilities Authority
        584283HA6
        
          
        
        500000.00000000
        PA
        USD
        645999.45000000
        0.955632276229
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2045-08-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MARION CNTY OR SCH DIST #15 NO
        N/A
        Marion County School District No 15 North Marion
        569187EQ6
        
          
        
        425000.00000000
        PA
        USD
        534882.05000000
        0.791255396510
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2034-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PORT OF MORROW OR
        N/A
        Port of Morrow OR
        73473RFD2
        
          
        
        1395000.00000000
        PA
        USD
        1654720.82000000
        2.447842058906
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2037-12-01
          Fixed
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OREGON ST UNIV GEN REVENUE
        549300UBMR6O3SFCEV73
        Oregon State University
        68608WAA0
        
          
        
        2000000.00000000
        PA
        USD
        2305818.40000000
        3.411016040590
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2045-04-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO CMWLTH
        549300X44HXPLJU48U63
        Commonwealth of Puerto Rico
        74514LB89
        
          
        
        100000.00000000
        PA
        USD
        86375.00000000
        0.127775244792
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2041-07-01
          Fixed
          5.00000000
          Y
          Y
          N
        
        
          N
          N
          N
        
      
      
        PORT OF PORTLAND OR ARPT REVEN
        N/A
        Port of Portland OR Airport Revenue
        735240M83
        
          
        
        1000000.00000000
        PA
        USD
        1195239.70000000
        1.768127875573
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2042-07-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CLACKAMAS CNTY OR SCH DIST #12
        N/A
        Clackamas County School District No 12 North Clackamas
        179093KL2
        
          
        
        1750000.00000000
        PA
        USD
        2190146.35000000
        3.239901429831
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2042-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OREGON ST FACS AUTH REVENUE
        N/A
        Oregon State Facilities Authority
        68608JTS0
        
          
        
        900000.00000000
        PA
        USD
        1041287.22000000
        1.540384711251
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2045-10-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO ELEC PWR AUTH PWR
        5493003BRB67HF8ST418
        Puerto Rico Electric Power Authority
        74526QV90
        
          
        
        30000.00000000
        PA
        USD
        29437.50000000
        0.043547134802
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2042-07-01
          Fixed
          5.05000000
          Y
          Y
          N
        
        
          N
          N
          N
        
      
      
        MULTNOMAH CNTY OR SCH DIST #7
        N/A
        Multnomah County School District No 7 Reynolds
        625574KS6
        
          
        
        2000000.00000000
        PA
        USD
        1493584.00000000
        2.209471041591
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2031-06-15
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JACKSON CNTY OR SCH DIST #6 CE
        N/A
        Jackson County School District No 6 Central Point
        467754HN0
        
          
        
        775000.00000000
        PA
        USD
        1006908.13000000
        1.489527441897
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2033-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OREGON ST FACS AUTH REVENUE
        N/A
        Oregon State Facilities Authority
        68608JVR9
        
          
        
        750000.00000000
        PA
        USD
        884481.45000000
        1.308420651667
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2046-06-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO ELEC PWR AUTH PWR
        5493003BRB67HF8ST418
        Puerto Rico Electric Power Authority
        74526QX56
        
          
        
        100000.00000000
        PA
        USD
        97250.00000000
        0.143862721343
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2018-07-01
          Fixed
          5.25000000
          Y
          Y
          N
        
        
          N
          N
          N
        
      
      
        MET OR DEDICATED TAX REVENUE
        N/A
        Metro/OR
        59165CAT7
        
          
        
        3000000.00000000
        PA
        USD
        3596951.70000000
        5.321000103881
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2047-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO SALES TAX FING COR
        N/A
        Puerto Rico Sales Tax Financing Corp Sales Tax Revenue
        74529JPV1
        
          
          
        
        20000.00000000
        PA
        USD
        23061.47000000
        0.034115021412
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2040-07-01
          Fixed
          4.55000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO SALES TAX FING COR
        N/A
        Puerto Rico Sales Tax Financing Corp Sales Tax Revenue
        74529JQG3
        
          
        
        80000.00000000
        PA
        USD
        26916.64000000
        0.039818005962
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2046-07-01
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OREGON ST FACS AUTH REVENUE
        N/A
        Oregon State Facilities Authority
        68608JCV1
        
          
        
        1210000.00000000
        PA
        USD
        1212375.47000000
        1.793476960453
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2025-07-01
          Fixed
          5.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO CMWLTH AQUEDUCT &
        N/A
        Puerto Rico Commonwealth Aqueduct & Sewer Authority
        745160RC7
        
          
        
        330000.00000000
        PA
        USD
        345006.06000000
        0.510370289681
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2042-07-01
          Fixed
          5.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CLACKAMAS CNTY OR HOSP FAC AUT
        N/A
        Clackamas County Hospital Facility Authority
        179027WQ6
        
          
        
        250000.00000000
        PA
        USD
        277882.13000000
        0.411073310380
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2047-11-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO SALES TAX FING COR
        N/A
        Puerto Rico Sales Tax Financing Corp Sales Tax Revenue
        74529JQH1
        
          
        
        800000.00000000
        PA
        USD
        194736.96000000
        0.288075979554
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2051-07-01
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MARION CNTY OR SCH DIST #15 NO
        N/A
        Marion County School District No 15 North Marion
        569187ES2
        
          
        
        1000000.00000000
        PA
        USD
        1253858.40000000
        1.854842998490
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2036-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO SALES TAX FING COR
        N/A
        Puerto Rico Sales Tax Financing Corp Sales Tax Revenue
        74529JQC2
        
          
        
        60000.00000000
        PA
        USD
        55088.59000000
        0.081493002286
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2027-07-01
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PORT OF PORTLAND OR ARPT REVEN
        N/A
        Port of Portland OR Airport Revenue
        735240G49
        
          
        
        1500000.00000000
        PA
        USD
        1681769.25000000
        2.487855022894
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2044-07-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KEIZER OR
        N/A
        City of Keizer OR
        487595AQ3
        
          
        
        800000.00000000
        PA
        USD
        802995.60000000
        1.187877966505
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2031-06-01
          Fixed
          5.20000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PUERTO RICO ELEC PWR AUTH PWR
        5493003BRB67HF8ST418
        Puerto Rico Electric Power Authority
        74526QV66
        
          
        
        255000.00000000
        PA
        USD
        251175.00000000
        0.371565234276
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2040-07-01
          Fixed
          5.25000000
          Y
          Y
          N
        
        
          N
          N
          N
        
      
      
        GILLIAM CNTY OR SOL WST DISP R
        N/A
        County of Gilliam OR
        37580TAD8
        
          
        
        1500000.00000000
        PA
        USD
        1502665.80000000
        2.222905822699
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2025-08-01
          Variable
          2.40000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TRI-CNTY OR MET TRANSPRTN DIST
        N/A
        Tri-County Metropolitan Transportation District of Oregon
        89546RQU1
        
          
        
        3000000.00000000
        PA
        USD
        3690058.50000000
        5.458733755537
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2048-09-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PORTLAND OR RIVER DIST URBAN R
        254900RPNQMJF9NBMF52
        City of Portland OR
        73674NCG4
        
          
        
        1000000.00000000
        PA
        USD
        1039625.90000000
        1.537927106971
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2029-06-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VIRGIN ISLANDS PUBLIC FIN AUTH
        N/A
        Virgin Islands Public Finance Authority
        927676QV1
        
          
        
        380000.00000000
        PA
        USD
        380891.33000000
        0.563455663443
        Long
        DBT
        MUN
        US
        
        N
        
        2
        
          2029-10-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OREGON ST HLTH & SCIENCE UNIV
        549300XTWOAGON8L2G98
        Oregon Health & Science University
        685869EP0
        
          
        
        850000.00000000
        PA
        USD
        1024431.65000000
        1.515450128526
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2035-07-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SALEM OR HOSP FAC AUTH REVENUE
        N/A
        Salem Hospital Facility Authority
        794458FR5
        
          
        
        2000000.00000000
        PA
        USD
        2560535.20000000
        3.787820688610
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2036-05-15
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OREGON ST FACS AUTH REVENUE
        N/A
        Oregon State Facilities Authority
        68608JXD8
        
          
        
        400000.00000000
        PA
        USD
        400000.00000000
        0.591723275448
        Long
        DBT
        MUN
        US
        N
        
        2
        
          2034-08-01
          Variable
          0.03000000
          N
          N
          N
        
        
          N
          N
          N
        
      
    
    
      
    
    
      2021-09-23
      Legg Mason Partners Income Trust
      Christopher Berarducci
      Christopher Berarducci
      Principal Financial Officer
    
  
  XXXX



WESTERN ASSET OREGON MUNICIPALS FUND

(Percentages shown based on Fund net assets)

 

Schedule of investments (unaudited)    July 31, 2021

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT
     VALUE  
MUNICIPAL BONDS - 98.8%           

Education - 13.7%

          

Oregon State Facilities Authority Revenue, Senior College in Student Housing Project A, XLCA

     5.250     7/1/25      $ 1,210,000      $  1,212,375  

Oregon State Health & Science University, Revenue, Series B, Refunding

     5.000     7/1/35        850,000        1,024,432  

Oregon State University General Revenue, Series A

     5.000     4/1/45        2,000,000        2,305,818  

University of Oregon General Revenue, Series A

     5.000     4/1/46        4,000,000        4,729,087  
          

 

 

 

Total Education

             9,271,712  
          

 

 

 

Health Care - 13.1%

          

Clackamas County, OR, Hospital Facility Authority Revenue, Senior Living, Willamette View Project, Refunding

     5.000     11/15/47        250,000        277,882  

Medford, OR, Hospital Facilities Authority Revenue, Asante Project, Series A, Refunding

     5.000     8/15/45        500,000        645,999  

Multnomah County, OR, Hospital Facilities Authority Revenue, Adventist Health, Refunding

     5.000     3/1/25        2,000,000        2,262,952  (a)(b) 

Oregon State Facilities Authority Revenue:

          

Legacy Health Project, Series A, Refunding

     5.000     6/1/46        750,000        884,482  

Providence Health & Services

     5.000     10/1/45        900,000        1,041,287  

Salem, OR, Hospital Facility Authority Revenue:

          

Capital Manor Project

     5.000     5/15/43        630,000        731,019  

Multi Model Salem Health Project, Series A, Refunding

     5.000     5/15/36        2,000,000        2,560,535  

Yamhill County, OR, Hospital Authority Revenue, Friendsview Retirement Community, Series A, Refunding

     5.000     11/15/46        400,000        440,702  
          

 

 

 

Total Health Care

             8,844,858  
          

 

 

 

Industrial Revenue - 2.2%

          

Gilliam County, OR, Solid Waste Disposal Revenue, Waste Management Project, Series A

     2.400     5/2/22        1,500,000        1,502,666  (a)(b)(c) 
          

 

 

 

Leasing - 5.3%

          

Metro, OR, Dedicated Tax Revenue, Oregon Convention Center Hotel Project

     5.000     6/15/47        3,000,000        3,596,952  
          

 

 

 

Local General Obligation - 38.9%

          

Clackamas County, OR, School District No 12, North Clackamas, GO, Series 2018, School Bond Guaranty

     5.000     6/15/42        1,750,000        2,190,146  

 

See Notes to Schedule of Investments.

 

 

Western Asset Oregon Municipals Fund 2021 Quarterly Report     

 

 

 

1


WESTERN ASSET OREGON MUNICIPALS FUND

(Percentages shown based on Fund net assets)

 

Schedule of investments (unaudited) (cont’d)    July 31, 2021

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT
     VALUE  

Local General Obligation - continued

          

Clackamas County, OR, School District No 62, Oregon City, GO, Series B, School Bond Guaranty, Refunding

     5.000     6/15/43      $ 1,000,000      $ 1,260,965  

Jackson County, OR, School District No 6, Central Point, GO, Series A, School Bond Guaranty

     5.000     6/15/33        775,000        1,006,908  

Lane & Douglas Counties, OR, School District No 28J, Fern Ridge, GO, Convertible Deferred Interest, Series A, School Bond Guaranty

     5.000     6/15/33        2,115,000        2,563,682  

Lane County, OR, School District No 19, Springfield, GO, CAB, Series B, School Bond Guaranty

     0.000     6/15/35        2,435,000        1,892,331  

Marion County, OR, School District No 15, North Marion, GO:

          

Series B, School Bond Guaranty

     5.000     6/15/34        425,000        534,882  

Series B, School Bond Guaranty

     5.000     6/15/36        1,000,000        1,253,859  

Marion County, OR, School District No 103, Woodburn, GO:

          

School Bond Guaranty

     5.000     6/15/34        1,000,000        1,171,836  

School Bond Guaranty

     5.000     6/15/35        1,000,000        1,170,997  

Multnomah & Clackamas Counties, OR, Centennial School District No 28JT, GO, School Bond Guaranty, Refunding

     5.000     6/15/45        1,000,000        1,298,498  

Multnomah County, OR, School District No 7, Reynolds, GO, Deferred Interest, Series B, School Bond Guaranty

     0.000     6/15/31        2,000,000        1,493,584  

Polk Marion & Benton Counties, OR, School District No 13J Central, GO, Series B, School Bond Guaranty

     0.000     6/15/33        2,000,000        1,630,253  

Port of Morrow, OR, GO, Series D, Refunding

     4.000     12/1/37        1,395,000        1,654,721  

Washington & Clackamas Counties, OR, School District No 23J Tigard-Tualatin, GO, Series A, School Bond Guaranty

     5.000     6/15/38        2,000,000        2,577,025  

Washington, Clackamas & Yamhill Counties, OR, School District No 88J, Sherwood, GO, Series B, School Bond Guaranty

     5.000     6/15/33        1,250,000        1,552,716  

Washington, Multnomah & Yamhill Counties, OR, School District No 1J, West Union, GO, Hillsboro, School Bond Guaranty

     5.000     6/15/38        2,500,000        3,075,926  
          

 

 

 

Total Local General Obligation

             26,328,329  
          

 

 

 

 

See Notes to Schedule of Investments.

 

 

 

2

 

    Western Asset Oregon Municipals Fund 2021 Quarterly Report

 


WESTERN ASSET OREGON MUNICIPALS FUND

(Percentages shown based on Fund net assets)

 

Schedule of investments (unaudited) (cont’d)    July 31, 2021

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT
     VALUE  

Other - 1.5%

          

Portland, OR, River District Urban Renewal & Redevelopment, Series C, Tax Allocation

     5.000     6/15/29      $ 1,000,000      $ 1,039,626  
          

 

 

 

Power - 0.9%

          

Puerto Rico Electric Power Authority Revenue:

          

Series A

     5.000     7/1/42        200,000        196,250 *(d) 

Series A

     5.050     7/1/42        30,000        29,437 *(d)  

Series XX

     5.250     7/1/40        255,000        251,175 *(d) 

Series ZZ, Refunding

     5.250     7/1/18        100,000        97,250 *(e)  
          

 

 

 

Total Power

             574,112  
          

 

 

 

Special Tax Obligation - 3.5%

          

Keizer, OR, Special Assessment, Keizer Station Area A

     5.200     6/1/31        800,000        802,996  

Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue:

          

CAB, Restructured, Series A-1

     0.000     7/1/27        60,000        55,088  

CAB, Restructured, Series A-1

     0.000     7/1/46        80,000        26,917  

CAB, Restructured, Series A-1

     0.000     7/1/51        800,000        194,737  

Restructured, Series A-1

     4.550     7/1/40        20,000        23,061  

Restructured, Series A-1

     5.000     7/1/58        620,000        724,489  

Restructured, Series A-2

     4.329     7/1/40        130,000        148,065  

Virgin Islands Public Finance Authority Revenue, Matching Fund Loan, Senior Lien, Series A

     5.000     10/1/29        380,000        380,891  
          

 

 

 

Total Special Tax Obligation

             2,356,244  
          

 

 

 

State General Obligation - 6.5%

          

Oregon State, GO, Series A

     4.000     5/1/46        3,500,000        4,290,877  

Puerto Rico Commonwealth Public Improvement Bonds, GO, Series A, Refunding

     5.000     7/1/41        100,000        86,375 *(d)  
          

 

 

 

Total State General Obligation

             4,377,252  
          

 

 

 

Transportation - 11.0%

          

Port of Portland, OR, Airport Revenue:

          

Portland International Airport, Series 24B

     5.000     7/1/42        1,000,000        1,195,240  (c) 

Series 22

     5.000     7/1/44        1,500,000        1,681,769  (c) 

Series 26C, Refunding

     5.000     7/1/25        750,000        879,573 (c)  

Tri-County Metropolitan Transportation District of Oregon, Payroll Tax Revenue, Senior Lien, Series A

     5.000     9/1/48        3,000,000        3,690,059  
          

 

 

 

Total Transportation

             7,446,641  
          

 

 

 

 

See Notes to Schedule of Investments.

 

 

Western Asset Oregon Municipals Fund 2021 Quarterly Report     

 

 

 

3


WESTERN ASSET OREGON MUNICIPALS FUND

(Percentages shown based on Fund net assets)

 

Schedule of investments (unaudited) (cont’d)    July 31, 2021

 

SECURITY

   RATE     MATURITY
DATE
     FACE
AMOUNT
     VALUE  

Water & Sewer - 2.2%

          

Clackamas River Water, OR, Water Revenue

     5.000     11/1/43      $ 1,000,000      $ 1,146,083  

Puerto Rico Commonwealth Aqueduct & Sewer Authority Revenue, Senior Lien, Series A

     5.250     7/1/42        330,000        345,006  
          

 

 

 

Total Water & Sewer

             1,491,089  
          

 

 

 

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS

(Cost - $61,482,745)

             66,829,481  
          

 

 

 
SHORT-TERM INVESTMENTS - 0.6%           
MUNICIPAL BONDS - 0.6%           

Health Care - 0.6%

          

Oregon State Facilities Authority Revenue, Peacehealth, Series A, Refunding, LOC - U.S. Bank N.A. (Cost - $400,000)

     0.020     8/1/34        400,000        400,000 (f)(g) 

TOTAL INVESTMENTS - 99.4%

(Cost - $61,882,745)

             67,229,481  

Other Assets in Excess of Liabilities - 0.6%

             427,440  
          

 

 

 

TOTAL NET ASSETS - 100.0%

           $ 67,656,921  
          

 

 

 

 

*

Non-income producing security.

 

(a)

Maturity date shown represents the mandatory tender date.

 

(b)

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

 

(c)

Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (“AMT”).

 

(d)

The coupon payment on this security is currently in default as of July 31, 2021.

 

(e)

The maturity principal is currently in default as of July 31, 2021.

 

(f)

Variable rate demand obligations (“VRDOs”) have a demand feature under which the Fund can tender them back to the issuer or liquidity provider on no more than 7 days notice. The interest rate generally resets on a daily or weekly basis and is determined on the specific interest rate reset date by the remarketing agent, pursuant to a formula specified in official documents for the VRDO, or set at the highest rate allowable as specified in official documents for the VRDO. VRDOs are benchmarked to the Securities Industry and Financial Markets Association (“SIFMA”) Municipal Swap Index. The SIFMA Municipal Swap Index is compiled from weekly interest rate resets of tax-exempt VRDOs reported to the Municipal Securities Rulemaking Board’s Short-term Obligation Rate Transparency System.

 

(g)

Maturity date shown is the final maturity date. The security may be sold back to the issuer before final maturity.

Abbreviation(s) used in this schedule:

 

CAB    — Capital Appreciation Bonds
GO    — General Obligation
LOC    — Letter of Credit
XLCA    — XL Capital Assurance

 

 

See Notes to Schedule of Investments.

 

 

 

4

 

    Western Asset Oregon Municipals Fund 2021 Quarterly Report

 


WESTERN ASSET OREGON MUNICIPALS FUND

(Percentages shown based on Fund net assets)

 

Schedule of investments (unaudited) (cont’d)    July 31, 2021

 

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 Oregon Municipals Fund 2021 Quarterly Report     

 

 

 

5


Notes to Schedule of Investments (unaudited)

 

1. Organization and significant accounting policies

Western Asset Oregon Municipals Fund (the “Fund”) is a separate non-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 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. If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Trustees.

The Board of Trustees is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Global 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 Fund’s 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

 

 

 

6

   


Notes to Schedule of Investments (unaudited) (cont’d)

 

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

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

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

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

 

   

Level 1 – 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.

 

   

 

 

7


Notes to Schedule of Investments (unaudited) (cont’d)

 

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

 

ASSETS

 

DESCRIPTION

   QUOTED PRICES
(LEVEL 1)
     OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)
     SIGNIFICANT
UNOBSERVABLE

INPUTS
(LEVEL 3)
     TOTAL  

Municipal Bonds†

     —        $ 66,829,481        —        $ 66,829,481  

Short-Term Investments†

     —          400,000        —          400,000  
  

 

 

    

 

 

    

 

 

    

 

 

 

Total Investments

     —        $ 67,229,481        —        $ 67,229,481  
  

 

 

    

 

 

    

 

 

    

 

 

 

 

See Schedule of Investments for additional detailed categorizations.

 

 

 

8

   


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