Form NPORT-P Western Asset Middle For: Jul 30

  
    NPORT-P
    false
    
      
      
        
          0001525355
          XXXXXXXX
        
      
      
      
      
    
  
  
    
      Western Asset Middle Market Income Fund Inc.
      811-22582
      0001525355
      549300K6DDGY2Z0DQ490
      620 Eighth Avenue
      47thFloor
      New York
      
      10018
      1-888-777-0102
      Western Asset Middle Market Income Fund Inc.
      549300K6DDGY2Z0DQ490
      2022-04-30
      2021-07-30
      N
    
    
      137164107.47
      28507172.29
      108656935.18
      0.00000000
      0.00000000
      28000000.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      0.00000000
      193191.21000000
      
        
          CAD
          
          
        
        
          USD
          
          
        
      
      
      
      N
      
        
          
        
        
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
          
            
            
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
            
              
              
              
            
          
        
        
        
        
      
      
      
      
      
      
    
    
      
        REDSTONE HOLDCO 2 LP
        N/A
        
        75774EAG0
        
          
          
        
        718709.68000000
        PA
        USD
        715004.73000000
        0.658038742594
        Long
        LON
        CORP
        US
        N
        2
        
          2028-04-27
          Floating
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ZYWAVE INC
        5493009YXQNPN3HQQH84
        
        14153EAC9
        
          
          
        
        972562.50000000
        PA
        USD
        974459.00000000
        0.896821724619
        Long
        LON
        CORP
        US
        N
        2
        
          2027-11-12
          Floating
          5.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CHESAPEAKE ENERGY CORP
        X2MT1W32SPAZ9WSKLE78
        
        165167DF1
        
          
          
        
        50000.00000000
        PA
        USD
        52266.00000000
        0.048101853704
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-02-01
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DELTA AIR LINES/SKYMILES
        N/A
        
        830867AB3
        
          
          
        
        1000000.00000000
        PA
        USD
        1118564.46000000
        1.029445988097
        Long
        DBT
        CORP
        N/A
        N
        2
        
          2028-10-20
          Fixed
          4.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ACCESS CIG LLC
        5493002EU9Z6IQMPAN35
        
        00435CAL2
        
          
          
        
        3470984.12000000
        PA
        USD
        3466662.74000000
        3.190466153179
        Long
        LON
        CORP
        US
        N
        2
        
          2026-02-27
          Floating
          7.88460000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LTR INTERMEDIATE HOLDING
        N/A
        
        50219UAB1
        
          
          
        
        1000000.00000000
        PA
        USD
        1005000.00000000
        0.924929456490
        Long
        LON
        CORP
        US
        N
        3
        
          2028-05-07
          Floating
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TRIMAS CORP
        75G1WUQ8QK4P5MZOYD78
        
        896215AH3
        
          
          
        
        1000000.00000000
        PA
        USD
        1017265.00000000
        0.936217277171
        Long
        DBT
        CORP
        US
        N
        2
        
          2029-04-15
          Fixed
          4.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MOUNTAIN PROVINCE DIAMON
        549300Y5548SJTH51N28
        
        62426EAA3
        
          
          
        
        1000000.00000000
        PA
        USD
        889055.00000000
        0.818222047701
        Long
        DBT
        CORP
        CA
        N
        2
        
          2022-12-15
          Fixed
          8.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CCM MERGER INC
        549300P77RSBKKFME089
        
        14985VAE1
        
          
          
        
        2000000.00000000
        PA
        USD
        2101480.00000000
        1.934050501717
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-05-01
          Fixed
          6.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AMERICAN TRAILER WORLD
        254900WNYWX3HF6TKT69
        
        03028BAB3
        
          
          
        
        500000.00000000
        PA
        USD
        494065.00000000
        0.454701763105
        Long
        LON
        CORP
        US
        N
        2
        
          2028-03-05
          Floating
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FIVE POINT OP CO LP/FIVE
        N/A
        
        33834YAA6
        
          
          
        
        3030000.00000000
        PA
        USD
        3177924.60000000
        2.924732410991
        Long
        DBT
        CORP
        US
        N
        2
        
          2025-11-15
          Fixed
          7.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SYMPLR SOFTWARE INC
        N/A
        
        87190HAC3
        
          
          
        
        1745625.00000000
        PA
        USD
        1747588.83000000
        1.608354613633
        Long
        LON
        CORP
        US
        N
        2
        
          2027-12-22
          Floating
          5.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INSULET CORPORATION
        549300TZTYD2PYN92D43
        
        45784QAB5
        
          
          
        
        1000000.00000000
        PA
        USD
        1002035.00000000
        0.922200684512
        Long
        LON
        CORP
        US
        N
        2
        
          2028-05-04
          Floating
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FOUNDATION BUILDING M
        549300ZVE6MONHB01I28
        
        350392AA4
        
          
          
        
        200000.00000000
        PA
        USD
        196972.00000000
        0.181278810849
        Long
        DBT
        CORP
        US
        N
        2
        
          2029-03-01
          Fixed
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EYECARE PARTNERS LLC
        254900ZAACWK09RJ8W93
        
        000000000
        
          
        
        2050000.00000000
        PA
        USD
        2030084.25000000
        1.868343006948
        Long
        LON
        CORP
        US
        N
        2
        
          2027-02-20
          Variable
          0.01000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        8TH AVENUE FOOD & PROVI
        549300PBCACU45IZ2V05
        
        28253PAD1
        
          
          
        
        2720000.00000000
        PA
        USD
        2714328.80000000
        2.498072300220
        Long
        LON
        CORP
        US
        N
        2
        
          2026-10-01
          Floating
          7.89470000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        JACOBS ENTERTAINMENT INC
        5493004U9JIWY3HSUO63
        
        469815AH7
        
          
          
        
        3818000.00000000
        PA
        USD
        3982116.73000000
        3.664852798768
        Long
        DBT
        CORP
        US
        N
        2
        
          2024-02-01
          Fixed
          7.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BADLWIN RISK PARTNER LLC
        5493004GCDREAQPPYG20
        
        05825HAD6
        
          
          
        
        1094500.00000000
        PA
        USD
        1093821.41000000
        1.006674270894
        Long
        LON
        CORP
        US
        N
        2
        
          2027-10-14
          Floating
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        L BRANDS INC
        GR3KVMWVCR54YWQNXU90
        
        501797AW4
        
          
          
        
        1000000.00000000
        PA
        USD
        1155000.00000000
        1.062978629101
        Long
        DBT
        CORP
        US
        N
        2
        
          2030-10-01
          Fixed
          6.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AIS HOLDCO LLC
        N/A
        
        00143RAC2
        
          
          
        
        3110375.00000000
        PA
        USD
        3055943.44000000
        2.812469756244
        Long
        LON
        CORP
        US
        N
        3
        
          2025-08-15
          Floating
          5.15510000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WASTE PRO USA INC
        549300BY1QXU5BI3UF28
        
        94107JAA1
        
          
          
        
        2090000.00000000
        PA
        USD
        2134328.90000000
        1.964282258158
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-02-15
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ALLEN MEDIA LLC
        N/A
        
        01771JAE3
        
          
          
        
        1481013.50980000
        PA
        USD
        1472127.43000000
        1.354839824592
        Long
        LON
        CORP
        US
        N
        2
        
          2027-02-10
          Floating
          5.60010000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ALTA EQUIPMENT GROUP
        N/A
        
        02128LAA4
        
          
          
        
        1890000.00000000
        PA
        USD
        1963048.50000000
        1.806648141462
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-04-15
          Fixed
          5.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CP ATLAS BUYER INC
        2549006ZZ07G0NDDCR36
        
        12597YAA7
        
          
          
        
        540000.00000000
        PA
        USD
        558017.10000000
        0.513558659717
        Long
        DBT
        CORP
        US
        N
        2
        
          2028-12-01
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BRUNDAGE-BONE CONCRETE
        N/A
        
        66981QAA4
        
          
          
        
        620000.00000000
        PA
        USD
        648675.00000000
        0.596993646954
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-02-01
          Fixed
          6.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AMERICAN AXLE & MFG INC
        RY5TAKFOBLDUGX31MS24
        
        02406PAU4
        
          
          
        
        1000000.00000000
        PA
        USD
        1052500.00000000
        0.968645027817
        Long
        DBT
        CORP
        US
        N
        2
        
          2027-04-01
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DOWNSTREAM DEVELOPMENT
        549300NM30NX0VZ5ZB32
        
        26112TAJ5
        
          
          
        
        3510000.00000000
        PA
        USD
        3673899.45000000
        3.381191862179
        Long
        DBT
        CORP
        US
        N
        2
        
          2023-02-15
          Fixed
          10.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        TITAN INTERNATIONAL INC
        N/A
        
        88830MAL6
        
          
          
        
        720000.00000000
        PA
        USD
        751932.00000000
        0.692023936396
        Long
        DBT
        CORP
        US
        N
        2
        
          2028-04-30
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EVERI PAYMENTS INC
        5493006Q4MDLHOY1JV70
        
        30034YAF9
        
          
          
        
        563975.26000000
        PA
        USD
        589354.15000000
        0.542399018547
        Long
        LON
        CORP
        US
        N
        3
        
          2024-05-09
          Floating
          11.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CD&R SMOKEY BUYER INC
        N/A
        
        12510CAA9
        
          
          
        
        350000.00000000
        PA
        USD
        373187.50000000
        0.343454837357
        Long
        DBT
        CORP
        US
        N
        2
        
          2025-07-15
          Fixed
          6.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        UNITED RENTALS NORTH AM
        NGIZXNT70J2LYT3FBI09
        
        911363AM1
        
          
          
        
        1000000.00000000
        PA
        USD
        1030000.00000000
        0.947937651925
        Long
        DBT
        CORP
        US
        N
        2
        
          2031-02-15
          Fixed
          3.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AGILITI HEALTH INC
        25490002CCQ55NKGNB14
        
        00847YAC6
        
          
          
        
        372453.97760000
        PA
        USD
        369195.01000000
        0.339780437749
        Long
        LON
        CORP
        US
        N
        3
        
          2026-01-04
          Floating
          3.13790000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AQA ACQUISITION HOLDING
        N/A
        
        03836HAG1
        
          
          
        
        1000000.00000000
        PA
        USD
        1002815.00000000
        0.922918540209
        Long
        LON
        CORP
        US
        N
        2
        
          2028-03-02
          Floating
          4.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BLACK KNIGHT INFOSERV LL
        549300H5PS5C68DAUX66
        
        092174AA9
        
          
          
        
        320000.00000000
        PA
        USD
        321088.00000000
        0.295506218234
        Long
        DBT
        CORP
        US
        N
        2
        
          2028-09-01
          Fixed
          3.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KC CULINARTE INTERMEDIAT
        5493005IJC1SWV7GI594
        
        48244GAB5
        
          
          
        
        1954724.99020000
        PA
        USD
        1855767.04000000
        1.707914029533
        Long
        LON
        CORP
        US
        N
        2
        
          2025-08-24
          Floating
          4.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AUTOMATION TOOLING SYSTE
        5493005KP4RP3IU7HQ41
        
        001940AC9
        
          
          
        
        280000.00000000
        PA
        USD
        285600.00000000
        0.262845624650
        Long
        DBT
        CORP
        CA
        N
        2
        
          2028-12-15
          Fixed
          4.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        HOLLY NRG PRTNR/FIN CORP
        N/A
        
        435765AH5
        
          
          
        
        2050000.00000000
        PA
        USD
        2082472.00000000
        1.916556910564
        Long
        DBT
        CORP
        US
        N
        2
        
          2028-02-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Option Care Health Inc
        549300DI3Q5ACSYJRI17
        
        68404L201
        
          
          
        
        44396.00000000
        NS
        USD
        919885.12000000
        0.846595864751
        Long
        EC
        CORP
        US
        N
        1
        
          N
          N
          N
        
      
      
        BLUE RACER MID LLC/FINAN
        N/A
        
        095796AH1
        
          
          
        
        490000.00000000
        PA
        USD
        528136.70000000
        0.486058896401
        Long
        DBT
        CORP
        US
        N
        2
        
          2025-12-15
          Fixed
          7.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DCERT BUYER INC
        549300EF826JEEUCHZ67
        
        24022KAB5
        
          
          
        
        2004625.00000000
        PA
        USD
        2004905.65000000
        1.845170440965
        Long
        LON
        CORP
        US
        N
        2
        
          2026-10-16
          Floating
          4.13430000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        URBAN ONE INC
        549300PLGIGPBRQUP240
        
        91705JAC9
        
          
          
        
        220000.00000000
        PA
        USD
        235705.80000000
        0.216926604463
        Long
        DBT
        CORP
        US
        N
        2
        
          2028-02-01
          Fixed
          7.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        OPTION CARE HEALTH INC
        549300DI3Q5ACSYJRI17
        
        09071FAK7
        
          
          
        
        1970000.00000000
        PA
        USD
        1963597.50000000
        1.807153401434
        Long
        LON
        CORP
        US
        N
        2
        
          2026-08-06
          Floating
          3.83660000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CSM BAKERY SOLUTIONS LLC
        5493001EXHLY7Q2ERI31
        
        60001PAD9
        
          
        
        3023250.69000000
        PA
        USD
        3005625.14000000
        2.766160425030
        Long
        LON
        CORP
        US
        N
        2
        
          2022-02-04
          Floating
          11.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MPH ACQUISITION HOLDINGS
        5493002WXOPRPTXWTU06
        
        55328HAE1
        
          
          
        
        1278479.70000000
        PA
        USD
        1271070.91000000
        1.169801916365
        Long
        LON
        CORP
        US
        N
        2
        
          2023-06-07
          Floating
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KRAFT HEINZ FOODS CO
        5493003STKEZ2S0RNU91
        
        50076QAE6
        
          
          
        
        1000000.00000000
        PA
        USD
        1255090.88000000
        1.155095050233
        Long
        DBT
        CORP
        US
        N
        2
        
          2042-06-04
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MEDASSETS SOFTWARE INTER
        N/A
        
        58404KAE5
        
          
          
        
        1250000.00000000
        PA
        USD
        1237500.00000000
        1.138905674037
        Long
        LON
        CORP
        US
        N
        3
        
          2029-01-28
          Variable
          0.01000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BERRY PETROLEUM CO LLC
        DQ2XTZKV7SILNNV77403
        
        08580BAA4
        
          
          
        
        3650000.00000000
        PA
        USD
        3604375.00000000
        3.317206576854
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-02-15
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VIRGIN PULSE INC
        N/A
        
        92770HAD9
        
          
          
        
        1000000.00000000
        PA
        USD
        995630.00000000
        0.916305984841
        Long
        LON
        CORP
        US
        N
        2
        
          2028-04-06
          Floating
          4.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DELTA TOPCO INC
        N/A
        
        24780DAC1
        
          
          
        
        1000000.00000000
        PA
        USD
        1000835.00000000
        0.921096291131
        Long
        LON
        CORP
        US
        N
        2
        
          2027-12-01
          Floating
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CROWDSTRIKE HOLDINGS INC
        549300YBY08K9KM4HX32
        
        22788CAA3
        
          
          
        
        530000.00000000
        PA
        USD
        538016.25000000
        0.495151321090
        Long
        DBT
        CORP
        US
        N
        2
        
          2029-02-15
          Fixed
          3.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MIDCAP FINANCIAL
        N/A
        
        59590AAA7
        
          
          
        
        1000000.00000000
        PA
        USD
        982930.00000000
        0.904617821560
        Long
        DBT
        CORP
        US
        N
        2
        
          2030-01-15
          Fixed
          5.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ANTERO MIDSTREAM PART/FI
        N/A
        
        03690AAF3
        
          
          
        
        1990000.00000000
        PA
        USD
        2086156.80000000
        1.919948134506
        Long
        DBT
        CORP
        US
        N
        2
        
          2028-01-15
          Fixed
          5.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SPRINT CORP
        549300ZTTY7CXOLJ6539
        
        85207UAF2
        
          
          
        
        2520000.00000000
        PA
        USD
        2854278.00000000
        2.626871442003
        Long
        DBT
        CORP
        US
        N
        2
        
          2023-09-15
          Fixed
          7.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        INTERFACE SPECIAL HLDGS
        N/A
        
        45875AAA2
        
          
        
        4174495.00000000
        PA
        USD
        0.00000000
        0.000000
        Long
        DBT
        CORP
        US
        N
        3
        
          2023-11-01
          Fixed
          19.00000000
          N
          N
          Y
        
        
          N
          N
          N
        
      
      
        AMERICAN NEWS COMPANY
        N/A
        
        02862PAA5
        
          
          
        
        826875.00000000
        PA
        USD
        939036.46000000
        0.864221375694
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-09-01
          Fixed
          8.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        GOLDEN ENTERTAINMENT INC
        549300P8YYCKQVJ0Y638
        
        381013AA9
        
          
          
        
        3290000.00000000
        PA
        USD
        3495756.60000000
        3.217242041853
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-04-15
          Fixed
          7.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        APOLLO CMMRL REAL EST FIN IN
        549300E0AN7M2AQHSY29
        
        03768DAC1
        
          
          
        
        997500.00000000
        PA
        USD
        991265.63000000
        0.912289333725
        Long
        LON
        CORP
        US
        N
        3
        
          2028-03-11
          Floating
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LEGACY LIFEPOINT HEALTH
        N/A
        
        53219LAS8
        
          
          
        
        450000.00000000
        PA
        USD
        452621.25000000
        0.416559927123
        Long
        DBT
        CORP
        US
        N
        2
        
          2027-02-15
          Fixed
          4.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ALLEN MEDIA LLC/CO-ISSR
        N/A
        
        01771YAA8
        
          
          
        
        1390000.00000000
        PA
        USD
        1390000.00000000
        1.279255666191
        Long
        DBT
        CORP
        US
        N
        2
        
          2028-02-15
          Fixed
          10.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NEW HOME CO INC/THE
        549300PLCE8TB3TVRQ85
        
        645370AC1
        
          
          
        
        820000.00000000
        PA
        USD
        874595.60000000
        0.804914659659
        Long
        DBT
        CORP
        US
        N
        2
        
          2025-10-15
          Fixed
          7.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        POTTERS BORROWER LP
        N/A
        
        73813HAB2
        
          
          
        
        997500.00000000
        PA
        USD
        1000622.18000000
        0.920900426965
        Long
        LON
        CORP
        US
        N
        2
        
          2027-12-14
          Floating
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CROWNROCK LP/CROWNROCK F
        N/A
        
        228701AG3
        
          
          
        
        1010000.00000000
        PA
        USD
        1057470.00000000
        0.973219057070
        Long
        DBT
        CORP
        US
        N
        2
        
          2029-05-01
          Fixed
          5.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        COWEN INC
        5493008QI0EFC5WBED75
        
        22362KAB7
        
          
          
        
        995000.00000000
        PA
        USD
        995000.00000000
        0.915726178316
        Long
        LON
        CORP
        US
        N
        3
        
          2028-03-24
          Floating
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        DISH DBS CORP
        N/A
        
        25470XAY1
        
          
          
        
        1000000.00000000
        PA
        USD
        1142500.00000000
        1.051474531383
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-07-01
          Fixed
          7.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BALLY'S CORP
        549300NS4D5IK406VT62
        
        90171VAA3
        
          
          
        
        2250000.00000000
        PA
        USD
        2432812.50000000
        2.238985018277
        Long
        DBT
        CORP
        US
        N
        2
        
          2027-06-01
          Fixed
          6.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        WP CPP HOLDINGS LLC
        549300HT8KGOLU7VM426
        
        92937JAM5
        
          
          
        
        493909.55650000
        PA
        USD
        477415.45000000
        0.439378719093
        Long
        LON
        CORP
        US
        N
        2
        
          2025-04-30
          Floating
          4.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Western Asset Premier Institutional Government Reserves
        549300WB3XRN9YTWFB76
        
        52470G494
        
          
          
        
        2305605.52000000
        NS
        USD
        2305605.52000000
        2.121912896015
        Long
        STIV
        RF
        US
        N
        1
        
          N
          N
          N
        
      
      
        TRIPLEPOINT VENTURE GROWT
        N/A
        
        000000000
        
          
        
        1000000.00000000
        PA
        USD
        993400.00000000
        0.914253653808
        Long
        DBT
        CORP
        US
        N
        3
        
          2026-03-01
          Fixed
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EYECARE PARTNERS LLC
        254900ZAACWK09RJ8W93
        
        30233PAB6
        
          
          
        
        1879003.72740000
        PA
        USD
        1860749.21000000
        1.712499259175
        Long
        LON
        CORP
        US
        N
        2
        
          2027-02-20
          Floating
          3.83900000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SCHWEITZER-MAUDUIT INTERNATIONAL INC
        549300Z1FU4IDULG1R21
        
        000000000
        
          
        
        500000.00000000
        PA
        USD
        496875.00000000
        0.457287884272
        Long
        LON
        CORP
        US
        N
        3
        
          2028-02-09
          Floating
          4.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CARNIVAL CORP
        F1OF2ZSX47CR0BCWA982
        
        143658BL5
        
          
          
        
        150000.00000000
        PA
        USD
        158625.00000000
        0.145987000035
        Long
        DBT
        CORP
        PA
        
        N
        2
        
          2026-03-01
          Fixed
          7.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        BUZZ FINCO LLC
        N/A
        
        000000000
        
          
          
        
        294500.00000000
        PA
        USD
        294315.94000000
        0.270867146687
        Long
        LON
        CORP
        US
        N
        3
        
          2027-01-29
          Floating
          3.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        COEUR MINING INC
        5493003AVK173D48DR70
        
        192108BC1
        
          
          
        
        1000000.00000000
        PA
        USD
        972950.00000000
        0.895432949943
        Long
        DBT
        CORP
        US
        N
        2
        
          2029-02-15
          Fixed
          5.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        KENNEDY-WILSON INC
        5EA4464UK7FM5QNNKL62
        
        489399AL9
        
          
          
        
        4000000.00000000
        PA
        USD
        4115000.00000000
        3.787148968616
        Long
        DBT
        CORP
        US
        N
        2
        
          2029-03-01
          Fixed
          4.75000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        AMERILIFE HOLDINGS LLC
        N/A
        
        03078CAC8
        
          
          
        
        2029808.17300000
        PA
        USD
        2031503.06000000
        1.869648777259
        Long
        LON
        CORP
        US
        N
        2
        
          2027-03-18
          Floating
          4.08360000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        FULL HOUSE RESORTS INC
        5493009DKIWW0H901Y82
        
        359678AC3
        
          
          
        
        2020000.00000000
        PA
        USD
        2193518.00000000
        2.018755633376
        Long
        DBT
        CORP
        US
        N
        2
        
          2028-02-15
          Fixed
          8.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MIDCAP FINANCIAL ISSR TR
        N/A
        
        59567LAA2
        
          
          
        
        750000.00000000
        PA
        USD
        780633.75000000
        0.718438955329
        Long
        DBT
        CORP
        US
        N
        2
        
          2028-05-01
          Fixed
          6.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        B RILEY FINANCIAL INC
        N/A
        
        05580M835
        
          
          
        
        20000.00000000
        NS
        USD
        531800.00000000
        0.489430333295
        Long
        EP
        CORP
        US
        N
        1
        
          N
          N
          N
        
      
      
        CPI CG INC
        N/A
        
        12598FAA7
        
          
          
        
        500000.00000000
        PA
        USD
        533812.50000000
        0.491282493027
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-03-15
          Fixed
          8.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        CP ATLAS BUYER INC
        2549006ZZ07G0NDDCR36
        
        12658HAG7
        
          
          
        
        997500.00000000
        PA
        USD
        994592.29000000
        0.915350951462
        Long
        LON
        CORP
        US
        N
        2
        
          2027-11-23
          Floating
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ARCTIC CANADIAN DIAMOND H
        N/A
        
        000000000
        
          
        
        1000000.00000000
        PA
        USD
        998200.00000000
        0.918671227332
        Long
        DBT
        CORP
        US
        N
        3
        
          2024-12-31
          None
          0.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        STONEMOR INC
        N/A
        
        86184WAA4
        
          
          
        
        1270000.00000000
        PA
        USD
        1277931.15000000
        1.176115586071
        Long
        DBT
        CORP
        US
        N
        2
        
          2029-05-15
          Fixed
          8.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        US RENAL CARE INC
        54930058SS5MF69JGN89
        
        07335BAA4
        
          
          
        
        1500000.00000000
        PA
        USD
        1631362.50000000
        1.501388289019
        Long
        DBT
        CORP
        US
        N
        2
        
          2027-07-15
          Fixed
          10.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        Oasis Petroleum Inc
        529900FA4V2YNIKZ0M71
        
        674215207
        
          
          
        
        13933.00000000
        NS
        USD
        1277795.43000000
        1.175990679180
        Long
        EC
        CORP
        US
        N
        1
        
          N
          N
          N
        
      
      
        LS GROUP OPCO ACQUISITIO
        N/A
        
        50220KAB0
        
          
          
        
        995000.00000000
        PA
        USD
        995830.83000000
        0.916490814277
        Long
        LON
        CORP
        US
        N
        2
        
          2027-11-02
          Floating
          4.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        EMPIRE COMMUNITIES CORP
        549300JM1L6KK2QFP273
        
        29163VAC7
        
          
          
        
        1120000.00000000
        PA
        USD
        1184405.60000000
        1.090041420768
        Long
        DBT
        CORP
        CA
        N
        2
        
          2025-12-15
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MISTER CAR WASH HOLDINGS IN
        549300BARUQU0U2GQE05
        
        60646CAF4
        
          
          
        
        29647.69760000
        PA
        USD
        29526.44000000
        0.027174004080
        Long
        LON
        CORP
        US
        N
        2
        
          2026-05-14
          Floating
          3.09580000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VM CONSOLIDATED INC
        N/A
        
        91835HAA0
        
          
          
        
        1000000.00000000
        PA
        USD
        1022490.00000000
        0.941025990017
        Long
        DBT
        CORP
        US
        N
        2
        
          2029-04-15
          Fixed
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ARROW PURCHASER INC
        N/A
        
        000000000
        
          
        
        1000000.00000000
        PA
        USD
        997500.00000000
        0.918026997860
        Long
        LON
        CORP
        US
        N
        3
        
          2026-04-19
          Variable
          0.01000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        B RILEY FINANCIAL INC
        N/A
        
        05580M603
        
          
          
        
        26935.00000000
        NS
        USD
        692768.20000000
        0.637573845472
        Long
        EP
        CORP
        US
        N
        1
        
          N
          N
          N
        
      
      
        AKUMIN INC
        N/A
        
        01021FAA7
        
          
          
        
        1090000.00000000
        PA
        USD
        1113162.50000000
        1.024474414040
        Long
        DBT
        CORP
        CA
        
        N
        2
        
          2025-11-01
          Fixed
          7.00000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        REDSTONE HOLDCO 2 LP
        N/A
        
        75774EAH8
        
          
          
        
        281290.32000000
        PA
        USD
        279840.27000000
        0.257544784910
        Long
        LON
        CORP
        US
        N
        2
        
          2028-04-27
          Floating
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        VESTA ENERGY CORP
        549300GYPYFLKCVI8Z96
        
        925383AB7
        
          
          
        
        1800000.00000000
        PA
        
        1204713.05000000
        1.108730931904
        Long
        DBT
        CORP
        CA
        N
        2
        
          2023-07-24
          Fixed
          8.12500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SPRINT COMMUNICATIONS
        549300JKU50UT08ZWD77
        
        852061AM2
        
          
          
        
        815000.00000000
        PA
        USD
        840623.60000000
        0.773649283046
        Long
        DBT
        CORP
        US
        N
        2
        
          2021-11-15
          Fixed
          11.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ENLINK MIDSTREAM LLC
        54930000GY1H533OBE23
        
        29336TAC4
        
          
          
        
        170000.00000000
        PA
        USD
        180319.00000000
        0.165952591706
        Long
        DBT
        CORP
        US
        N
        2
        
          2028-01-15
          Fixed
          5.62500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        PROJECT ALPHA INTERMEDIA
        N/A
        
        74339DAE8
        
          
          
        
        2913279.05330000
        PA
        USD
        2912070.04000000
        2.680059064040
        Long
        LON
        CORP
        US
        N
        2
        
          2024-04-26
          Floating
          4.10010000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        MEDICAL SOLUTIONS HOLDIN
        549300JH2XHZ7TIKYR39
        
        58462QAC5
        
          
          
        
        1994475.00000000
        PA
        USD
        2000707.73000000
        1.841306978413
        Long
        LON
        CORP
        US
        N
        2
        
          2024-06-14
          Floating
          5.50000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        NMI HOLDINGS
        529900KNNGFXJX1C3Z08
        
        629209AA5
        
          
          
        
        1060000.00000000
        PA
        USD
        1211903.30000000
        1.115348318993
        Long
        DBT
        CORP
        US
        N
        2
        
          2025-06-01
          Fixed
          7.37500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        LIFTOFF MOBILE INC
        549300TP5NEG85CHPU59
        
        53227VAB3
        
          
          
        
        497499.99570000
        PA
        USD
        497345.77000000
        0.457721146999
        Long
        LON
        CORP
        US
        N
        2
        
          2028-03-17
          Floating
          4.25000000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        SUGAR HSP GMNG PROP/FIN
        N/A
        
        865033AC8
        
          
          
        
        2000000.00000000
        PA
        USD
        1992700.00000000
        1.833937241740
        Long
        DBT
        CORP
        US
        N
        2
        
          2025-05-15
          Fixed
          5.87500000
          N
          N
          N
        
        
          N
          N
          N
        
      
      
        ENDEAVOR ENERGY RESOURCE
        N/A
        
        29260FAD2
        
          
          
        
        1200000.00000000
        PA
        USD
        1240536.00000000
        1.141699789290
        Long
        DBT
        CORP
        US
        N
        2
        
          2026-01-30
          Fixed
          5.50000000
          N
          N
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      2021-09-23
      Western Asset Middle Market Income Fund Inc.
      Christopher Berarducci
      Christopher Berarducci
      Principal Financial Officer
    
  
  XXXX

WESTERN ASSET MIDDLE MARKET INCOME FUND INC.

 

Schedule of investments (unaudited)		July 31, 2021

 

(Percentages shown based on Fund net assets)

 

SECURITY		RATE				MATURITY DATE				FACE AMOUNT†				VALUE
CORPORATE BONDS & NOTES - 69.1%
COMMUNICATION SERVICES - 5.9%
Entertainment - 1.3%
Allen Media LLC/Allen Media Co-Issuer Inc., Senior Notes			10.500	%			2/15/28				1,390,000			$	1,390,000	(a)(b)
Media - 1.2%
DISH DBS Corp., Senior Notes			7.750	%			7/1/26				1,000,000				1,142,500
Urban One Inc., Senior Secured Notes			7.375	%			2/1/28				220,000				235,706	(a)
Total Media															1,378,206
Wireless Telecommunication Services - 3.4%
Sprint Communications Inc., Senior Notes			11.500	%			11/15/21				815,000				840,623	(b)
Sprint Corp., Senior Notes			7.875	%			9/15/23				2,520,000				2,854,278	(b)
Total Wireless Telecommunication Services															3,694,901
TOTAL COMMUNICATION SERVICES															6,463,107
CONSUMER DISCRETIONARY - 23.7%
Auto Components - 1.0%
American Axle & Manufacturing Inc., Senior Notes			6.500	%			4/1/27				1,000,000				1,052,500
Distributors - 0.9%
American News Co. LLC, Secured Notes (8.500% Cash or 10.000% PIK)			8.500	%			9/1/26				826,875				939,037	(a)(c)
Diversified Consumer Services - 1.2%
StoneMor Inc., Senior Secured Notes			8.500	%			5/15/29				1,270,000				1,277,931	(a)
Hotels, Restaurants & Leisure - 18.4%
Bally’s Corp., Senior Notes			6.750	%			6/1/27				2,250,000				2,432,812	(a)(b)
Carnival Corp., Senior Notes			7.625	%			3/1/26				150,000				158,625	(a)
CCM Merger Inc., Senior Notes			6.375	%			5/1/26				2,000,000				2,101,480	(a)
Downstream Development Authority of the Quapaw Tribe of Oklahoma, Senior Secured Notes			10.500	%			2/15/23				3,510,000				3,673,899	(a)(b)
Full House Resorts Inc., Senior Secured Notes			8.250	%			2/15/28				2,020,000				2,193,518	(a)
Golden Entertainment Inc., Senior Notes			7.625	%			4/15/26				3,290,000				3,495,757	(a)(b)
Jacobs Entertainment Inc., Secured Notes			7.875	%			2/1/24				3,818,000				3,982,117	(a)(b)
Sugarhouse HSP Gaming Prop Mezz LP/ Sugarhouse HSP Gaming Finance Corp., Senior Secured Notes			5.875	%			5/15/25				2,000,000				1,992,700	(a)(b)
Total Hotels, Restaurants & Leisure															20,030,908

 

See Notes to Schedule of Investments.

 

		Western Asset Middle Market Income Fund Inc. 2021 Quarterly Report		1

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WESTERN ASSET MIDDLE MARKET INCOME FUND INC.

 

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

 

(Percentages shown based on Fund net assets)

 

SECURITY		RATE				MATURITY DATE				FACE AMOUNT†				VALUE
Household Durables - 1.1%
CD&R Smokey Buyer Inc., Senior Secured Notes			6.750	%			7/15/25				350,000			$	373,187	(a)
New Home Co. Inc., Senior Notes			7.250	%			10/15/25				820,000				874,596	(a)
Total Household Durables															1,247,783
Specialty Retail - 1.1%
L Brands Inc., Senior Notes			6.625	%			10/1/30				1,000,000				1,155,000	(a)
TOTAL CONSUMER DISCRETIONARY															25,703,159
CONSUMER STAPLES - 1.2%
Food Products - 1.2%
Kraft Heinz Foods Co., Senior Notes			5.000	%			6/4/42				1,000,000				1,255,091
ENERGY - 11.1%
Oil, Gas & Consumable Fuels - 11.1%
Antero Midstream Partners LP/Antero Midstream Finance Corp., Senior Notes			5.750	%			1/15/28				1,990,000				2,086,157	(a)(b)
Berry Petroleum Co. LLC, Senior Notes			7.000	%			2/15/26				3,650,000				3,604,375	(a)(b)
Blue Racer Midstream LLC/Blue Racer Finance Corp., Senior Notes			7.625	%			12/15/25				490,000				528,136	(a)
Chesapeake Energy Corp., Senior Notes			5.500	%			2/1/26				50,000				52,266	(a)
CrownRock LP/CrownRock Finance Inc., Senior Notes			5.000	%			5/1/29				1,010,000				1,057,470	(a)
Endeavor Energy Resources LP/EER Finance Inc., Senior Notes			5.500	%			1/30/26				1,200,000				1,240,536	(a)(b)
EnLink Midstream LLC, Senior Notes			5.625	%			1/15/28				170,000				180,319	(a)
Holly Energy Partners LP/Holly Energy Finance Corp., Senior Notes			5.000	%			2/1/28				2,050,000				2,082,472	(a)(b)
Vesta Energy Corp., Senior Notes			8.125	%			7/24/23				1,800,000	CAD			1,204,713	(a)
TOTAL ENERGY															12,036,444
FINANCIALS - 3.6%
Capital Markets - 0.9%
TriplePoint Venture Growth BDC Corp.			4.500	%			3/1/26				1,000,000				993,400	(d)(e)
Consumer Finance - 1.6%
Midcap Financial Issuer Trust, Senior Notes			6.500	%			5/1/28				750,000				780,634	(a)
Midcap Financial Issuer Trust, Senior Notes			5.625	%			1/15/30				1,000,000				982,930	(a)
Total Consumer Finance															1,763,564
Thrifts & Mortgage Finance - 1.1%
NMI Holdings Inc., Senior Secured Notes			7.375	%			6/1/25				1,060,000				1,211,903	(a)
TOTAL FINANCIALS															3,968,867

 

See Notes to Schedule of Investments.

 

2		Western Asset Middle Market Income Fund Inc. 2021 Quarterly Report

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WESTERN ASSET MIDDLE MARKET INCOME FUND INC.

 

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

 

(Percentages shown based on Fund net assets)

 

SECURITY		RATE				MATURITY DATE				FACE AMOUNT†				VALUE
HEALTH CARE - 2.9%
Health Care Providers & Services - 2.9%
Akumin Inc., Senior Secured Notes			7.000	%			11/1/25				1,090,000			$	1,113,163	(a)
Legacy LifePoint Health LLC, Senior Secured Notes			4.375	%			2/15/27				450,000				452,621	(a)(b)
US Renal Care Inc., Senior Notes			10.625	%			7/15/27				1,500,000				1,631,362	(a)
TOTAL HEALTH CARE															3,197,146
INDUSTRIALS - 11.0%
Airlines - 1.0%
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes			4.750	%			10/20/28				1,000,000				1,118,564	(a)
Building Products - 0.5%
CP Atlas Buyer Inc., Senior Notes			7.000	%			12/1/28				540,000				558,017	(a)
Commercial Services & Supplies - 2.0%
Waste Pro USA Inc., Senior Notes			5.500	%			2/15/26				2,090,000				2,134,329	(a)(b)
Construction & Engineering - 2.6%
Brundage-Bone Concrete Pumping Holdings Inc., Secured Notes			6.000	%			2/1/26				620,000				648,675	(a)
Empire Communities Corp., Senior Notes			7.000	%			12/15/25				1,120,000				1,184,406	(a)
VM Consolidated Inc., Senior Notes			5.500	%			4/15/29				1,000,000				1,022,490	(a)
Total Construction & Engineering															2,855,571
Machinery - 1.9%
ATS Automation Tooling Systems Inc., Senior Notes			4.125	%			12/15/28				280,000				285,600	(a)
Titan International Inc., Senior Secured Notes			7.000	%			4/30/28				720,000				751,932	(a)
TriMas Corp., Senior Notes			4.125	%			4/15/29				1,000,000				1,017,265	(a)
Total Machinery															2,054,797
Trading Companies & Distributors - 3.0%
Alta Equipment Group Inc., Secured Notes			5.625	%			4/15/26				1,890,000				1,963,049	(a)
Foundation Building Materials Inc., Senior Notes			6.000	%			3/1/29				200,000				196,972	(a)(b)
United Rentals North America Inc., Senior Notes			3.875	%			2/15/31				1,000,000				1,030,000
Total Trading Companies & Distributors															3,190,021
TOTAL INDUSTRIALS															11,911,299
INFORMATION TECHNOLOGY - 1.3%
IT Services - 0.5%
CPI CG Inc., Senior Secured Notes			8.625	%			3/15/26				500,000				533,813	(a)(b)
Software - 0.8%
Black Knight InfoServ LLC, Senior Notes			3.625	%			9/1/28				320,000				321,088	(a)

 

See Notes to Schedule of Investments.

 

		Western Asset Middle Market Income Fund Inc. 2021 Quarterly Report		3

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WESTERN ASSET MIDDLE MARKET INCOME FUND INC.

 

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

 

(Percentages shown based on Fund net assets)

 

SECURITY		RATE				MATURITY DATE				FACE AMOUNT†				VALUE
Software - (continued)
Crowdstrike Holdings Inc., Senior Notes			3.000	%			2/15/29				530,000			$	538,016
Interface Special Holdings Inc., Senior Notes (19.000% PIK)			19.000	%			11/1/23				4,174,495				0	*(c)(d)(e)(f)(g)
Total Software															859,104
TOTAL INFORMATION TECHNOLOGY															1,392,917
MATERIALS - 1.7%
Metals & Mining - 1.7%
Coeur Mining Inc., Senior Notes			5.125	%			2/15/29				1,000,000				972,950	(a)
Mountain Province Diamonds Inc., Secured Notes			8.000	%			12/15/22				1,000,000				889,055	(a)
TOTAL MATERIALS															1,862,005
REAL ESTATE - 6.7%
Real Estate Management & Development - 6.7%
Five Point Operating Co. LP/Five Point Capital Corp., Senior Notes			7.875	%			11/15/25				3,030,000				3,177,925	(a)(b)
Kennedy-Wilson Inc., Senior Notes			4.750	%			3/1/29				4,000,000				4,115,000	(b)
TOTAL REAL ESTATE															7,292,925
TOTAL CORPORATE BONDS & NOTES (Cost - $76,379,143)															75,082,960
SENIOR LOANS - 48.7%
COMMUNICATION SERVICES - 2.5%
Diversified Telecommunication Services - 0.9%
Delta TopCo Inc., First Lien Term Loan (the greater of 6 mo. USD LIBOR or 0.750% + 3.750%)			4.500	%			12/1/27				997,500				998,333	(h)(i)(j)
Entertainment - 1.3%
Allen Media LLC, Initial Term Loan (3 mo. USD LIBOR + 5.500%)			5.647	%			2/10/27				1,481,014				1,472,127	(h)(i)(j)
Internet & Direct Marketing Retail - 0.3%
Buzz Finco LLC, Incremental Term Loan 1 (the greater of 1 mo. USD LIBOR or 0.500% + 3.250%)			3.750	%			1/29/27				294,500				294,316	(e)(h)(i)(j)
TOTAL COMMUNICATION SERVICES															2,764,776
CONSUMER DISCRETIONARY - 4.0%
Automobiles - 0.5%
American Trailer World Corp., First Lien Initial Term Loan (the greater of 1 mo. USD LIBOR or 0.750% + 3.750%)			4.500	%			3/3/28				500,000				494,065	(h)(i)(j)

 

See Notes to Schedule of Investments.

 

4		Western Asset Middle Market Income Fund Inc. 2021 Quarterly Report

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WESTERN ASSET MIDDLE MARKET INCOME FUND INC.

 

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

 

(Percentages shown based on Fund net assets)

 

SECURITY		RATE				MATURITY DATE				FACE AMOUNT†				VALUE
Commercial Services & Supplies - 1.7%
KC Culinarte Intermediate LLC, First Lien Initial Term Loan (the greater of 1 mo. USD LIBOR or 1.000% + 3.750%)			4.750	%			8/25/25				1,954,725			$	1,855,767	(h)(i)(j)
Specialty Retail - 1.8%
ALCV Purchaser Inc., Initial Term Loan (the greater of 1 mo. USD LIBOR or 1.000% + 6.750%)			7.750	%			2/26/26				1,000,000				997,500	(e)(h)(i)(j)
LS Group OpCo Acquisition LLC, Initial Term Loan (the greater of 3 mo. USD LIBOR or 0.500% + 3.500%)			4.000	%			11/2/27				995,000				995,831	(h)(i)(j)
Total Specialty Retail															1,993,331
TOTAL CONSUMER DISCRETIONARY															4,343,163
CONSUMER STAPLES - 5.3%
Food Products - 5.3%
8th Avenue Food & Provisions Inc., Second Lien Term Loan (1 mo. USD LIBOR + 7.750%)			7.839	%			10/1/26				2,720,000				2,714,329	(h)(i)(j)
CSM Bakery Solutions LLC, Second Lien (the greater of 3 mo. USD LIBOR or 1.000% + 7.750% PIK)			8.750	%			2/4/22				3,023,251				3,005,625	(c)(h)(i)(j)
TOTAL CONSUMER STAPLES															5,719,954
FINANCIALS - 8.4%
Capital Markets - 1.8%
Cardinal Parent Inc., First Lien Initial Term Loan (the greater of 3 mo. USD LIBOR or 0.750% + 4.500%)			5.250	%			11/12/27				972,563				974,459	(h)(i)(j)
Cowen Inc., Initial Term Loan (the greater of 3 mo. USD LIBOR or 0.750% + 3.250%)			4.000	%			3/24/28				995,000				995,000	(e)(h)(i)(j)
Total Capital Markets															1,969,459
Insurance - 5.7%
AIS Holdco LLC, First Lien Term Loan (3 mo. USD LIBOR + 5.000%)			5.186	%			8/15/25				3,110,375				3,055,944	(e)(h)(i)(j)
AmeriLife Holdings LLC, First Lien Term Loan (1 mo. USD LIBOR + 4.000%)			4.104	%			3/18/27				2,029,808				2,031,503	(h)(i)(j)
Baldwin Risk Partners LLC, Term Loan B1 (the greater of 1 mo. USD LIBOR or 0.500% + 3.500%)			4.000	%			10/14/27				1,094,500				1,093,821	(h)(i)(j)
Total Insurance															6,181,268

 

See Notes to Schedule of Investments.

 

		Western Asset Middle Market Income Fund Inc. 2021 Quarterly Report		5

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WESTERN ASSET MIDDLE MARKET INCOME FUND INC.

 

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

 

(Percentages shown based on Fund net assets)
SECURITY		RATE				MATURITY DATE				FACE AMOUNT†				VALUE
Mortgage Real Estate Investment Trusts (REITs) - 0.9%
Apollo Commercial Real Estate Finance Inc., Term Loan B1 (the greater of 1 mo. USD LIBOR or 0.500% + 3.500%)			4.000	%			3/11/28				997,500			$	991,266	(e)(h)(i)(j)
TOTAL FINANCIALS															9,141,993
HEALTH CARE - 11.7%
Health Care Equipment & Supplies - 0.9%
Insulet Corp., Term Loan B (the greater of 1 mo. USD LIBOR or 0.500% + 3.250%)			3.750	%			4/28/28				1,000,000				1,002,035	(h)(i)(j)
Health Care Providers & Services - 8.7%
Agiliti Health Inc., Term Loan (1 mo. USD LIBOR + 2.750%)			2.875	%			1/4/26				372,454				369,195	(e)(h)(i)(j)
Bioscrip Inc., First Lien Term Loan B (1 mo. USD LIBOR + 3.750%)			3.842	%			8/6/26				1,970,000				1,963,598	(h)(i)(j)
EyeCare Partners LLC, First Lien Initial Term Loan (2 mo. USD LIBOR + 3.750%)			3.857	%			2/18/27				1,879,004				1,860,749	(h)(i)(j)
EyeCare Partners LLC, Second Lien Initial Term Loan (2 mo. USD LIBOR + 8.250%)			8.357	%			2/4/28				2,050,000				2,030,084	(h)(i)(j)
Medical Solutions Holdings Inc., First Lien Closing Date Term Loan (the greater of 1 mo. USD LIBOR or 1.000% + 4.500%)			5.500	%			6/14/24				1,994,475				2,000,708	(h)(i)(j)
MPH Acquisition Holdings LLC, Initial Term Loan (the greater of 3 mo. USD LIBOR or 1.000% + 2.750%)			3.750	%			6/7/23				1,278,479				1,271,071	(h)(i)(j)
Total Health Care Providers & Services															9,495,405
Health Care Technology - 2.1%
MedAssets Software Intermediate Holdings, Inc., Second Lien Initial Term Loan (the greater of 6 mo. USD LIBOR or 0.750% + 7.750%)			8.500	%			1/29/29				1,250,000				1,237,500	(e)(h)(i)(j)
Virgin Pulse Inc., First Lien Term Loan (the greater of 3 mo. USD LIBOR or 0.750% + 4.000%)			4.750	%			4/6/28				1,000,000				995,630	(h)(i)(j)
Total Health Care Technology															2,233,130
TOTAL HEALTH CARE															12,730,570
INDUSTRIALS - 3.2%
Aerospace & Defense - 0.4%
WP CPP Holdings LLC, First Lien Initial Term Loan (the greater of 3 mo. USD LIBOR or 1.000% + 3.750%)			4.750	%			4/30/25				493,909				477,415	(h)(i)(j)

 

See Notes to Schedule of Investments.

 

6		Western Asset Middle Market Income Fund Inc. 2021 Quarterly Report

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WESTERN ASSET MIDDLE MARKET INCOME FUND INC.

 

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

 

(Percentages shown based on Fund net assets)

 

SECURITY		RATE				MATURITY DATE				FACE AMOUNT†				VALUE
Building Products - 1.8%
CP Atlas Buyer Inc., Term Loan B			—				11/23/27				997,500			$	994,593	(k)
Potters Industries LLC, Initial Term Loan (the greater of 3 mo. USD LIBOR or 0.750% + 4.000%)			4.750	%			12/14/27				997,500				1,000,622	(h)(i)(j)
Total Building Products															1,995,215
Commercial Services & Supplies - 1.0%
LTR Intermediate Holdings Inc., Initial Term Loan (the greater of 3 mo. USD LIBOR or 1.000% + 4.500%)			5.500	%			5/5/28				1,000,000				1,005,000	(e)(h)(i)(j)
Mister Car Wash Holdings Inc., First Lien Initial Term Loan (1 mo. USD LIBOR + 3.000%)			3.087	%			5/14/26				29,648				29,526	(h)(i)(j)
Total Commercial Services & Supplies															1,034,526
TOTAL INDUSTRIALS															3,507,156
INFORMATION TECHNOLOGY - 12.2%
IT Services - 6.8%
Access CIG LLC, Second Lien Initial Term Loan (1 mo. USD LIBOR + 7.750%)			7.842	%			2/27/26				3,470,984				3,466,663	(h)(i)(j)
Project Alpha Intermediate Holding Inc., Term Loan (1 mo. USD LIBOR + 4.000%)			4.100	%			4/26/24				2,913,279				2,912,070	(h)(i)(j)
Redstone Holdco 2 LP, First Lien Initial Term Loan (the greater of 3 mo. USD LIBOR or 0.750% + 4.750%)			5.500	%			4/27/28				718,710				715,005	(h)(i)(j)
Redstone Holdco 2 LP, Retired First Lien Delayed Draw Term Loan			—				4/27/28				281,290				279,840	(k)
Total IT Services															7,373,578
Software - 4.8%
AQA Acquisition Holding Inc., First Lien Initial Term Loan (the greater of 3 mo. USD LIBOR or 0.500% + 4.250%)			4.750	%			3/3/28				1,000,000				1,002,815	(h)(i)(j)
DCert Buyer Inc., First Lien Initial Term Loan (1 mo. USD LIBOR + 4.000%)			4.092	%			10/16/26				2,004,625				2,004,905	(h)(i)(j)
Liftoff Mobile Inc., Initial Term Loan (the greater of 3 mo. USD LIBOR or 0.750% + 3.500%)			4.250	%			2/17/28				497,500				497,346	(h)(i)(j)
Symplr Software Inc., First Lien Term Loan (the greater of 3 mo. USD LIBOR or 0.750% + 4.500%)			5.250	%			12/22/27				1,745,625				1,747,589	(h)(i)(j)
Total Software															5,252,655

 

See Notes to Schedule of Investments.

 

		Western Asset Middle Market Income Fund Inc. 2021 Quarterly Report		7

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WESTERN ASSET MIDDLE MARKET INCOME FUND INC.

 

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

 

(Percentages shown based on Fund net assets)

 

SECURITY		RATE				MATURITY DATE				FACE AMOUNT†				VALUE
Technology Hardware, Storage & Peripherals - 0.6%
Everi Payments Inc., Term Loan (the greater of 3 mo. USD LIBOR or 1.000% + 10.500%)			11.500	%			5/9/24				563,975			$	589,354	(e)(h)(i)(j)
TOTAL INFORMATION TECHNOLOGY															13,215,587
MATERIALS - 1.4%
Metals & Mining - 0.9%
Arctic Canadian Diamond Co. Ltd., Second Lien Term Loan (5.000% Cash and 12.500% PIK)			17.500	%			12/31/27				1,000,000				998,200	(d)(e)(h)(i)(j)
Paper & Forest Products - 0.5%
Schweitzer-Mauduit International Inc., Term Loan B (the greater of 1 mo. USD LIBOR or 0.750% + 3.750%)			4.500	%			1/27/28				500,000				496,875	(e)(h)(i)(j)
TOTAL MATERIALS															1,495,075
TOTAL SENIOR LOANS (Cost - $52,908,234)															52,918,274
										SHARES
COMMON STOCKS - 2.0%
ENERGY - 1.2%
Oil, Gas & Consumable Fuels - 1.2%
Oasis Petroleum Inc.											13,933				1,277,796	(b)
HEALTH CARE - 0.8%
Health Care Providers & Services - 0.8%
Option Care Health Inc.											44,396				919,885	*
TOTAL COMMON STOCKS (Cost - $2,013,657)															2,197,681
		RATE
PREFERRED STOCKS - 1.1%
FINANCIALS - 1.1%
Capital Markets - 1.1%
B Riley Financial Inc.			6.000	%							20,000				531,800	(b)
B Riley Financial Inc.			6.875	%							26,935				692,768	(b)
TOTAL PREFERRED STOCKS (Cost - $1,173,375)															1,224,568
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $132,474,409)															131,423,483

 

See Notes to Schedule of Investments.

 

8		Western Asset Middle Market Income Fund Inc. 2021 Quarterly Report

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WESTERN ASSET MIDDLE MARKET INCOME FUND INC.

 

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

 

(Percentages shown based on Fund net assets)

 

SECURITY		RATE								SHARES				VALUE
SHORT-TERM INVESTMENTS - 2.3%
Western Asset Premier Institutional Government Reserves, Premium Shares (Cost - $2,452,524)			0.010	%							2,452,524			$	2,452,524	(l)
TOTAL INVESTMENTS - 123.2% (Cost - $134,926,933)															133,876,007
Liabilities in Excess of Other Assets - (23.2)%															(25,206,620	)
TOTAL NET ASSETS - 100.0%														$	108,669,387

 

†	Face amount denominated in U.S. dollars, unless otherwise noted.

 

*	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)	All or a portion of this security is pledged as collateral pursuant to the loan agreement.

 

(c)	Payment-in-kind security for which the issuer has the option at each interest payment date of making interest payments in cash or additional securities.

 

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

 

(e)	Security is valued using significant unobservable inputs (Note 1).

 

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

 

(g)	Value is less than $1.

 

(h)	Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan.

 

(i)	Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan.

 

(j)

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.

 

(k)	All or a portion of this loan is unfunded as of July 31, 2021. The interest rate for fully unfunded term loans is to be determined.

 

(l)

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 July 31, 2021, the total market value of investments in Affiliated Companies was $2,452,524 and the cost was $2,452,524 (Note 2).

 

Abbreviation(s) used in this schedule:
CAD		— Canadian Dollar
CPI		— Consumer Price Index
LIBOR		— London Interbank Offered Rate
PIK		— Payment-In-Kind
USD		— United States Dollar

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 Middle Market Income Fund Inc. 2021 Quarterly Report		9

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Notes to Schedule of Investments (unaudited)

 

1. Organization and significant accounting policies

Western Asset Middle Market Income Fund Inc. (the “Fund”) was incorporated in Maryland on June 29, 2011 and is registered as a non-diversified, limited-term closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund commenced operations on August 26, 2014. The Fund’s primary investment objective is to provide high income. As a secondary objective, the Fund seeks capital appreciation. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its managed assets (the net assets of the Fund plus the principal amount of any borrowings and any preferred stock that may be outstanding) in securities, including loans, issued by middle market companies. For investment purposes, “middle market” refers to companies with annual revenues of between $100 million and $1 billion at the time of investment by the Fund. Securities of middle market issuers are typically considered below investment grade (also commonly referred to as “junk bonds”). It is anticipated that the Fund will terminate on or before December 30, 2022. Upon its termination, it is anticipated that the Fund will have distributed substantially all of its net assets to stockholders, although securities for which no market exists or securities trading at depressed prices, if any, may be placed in a liquidating trust.

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. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.

 

10

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Notes to Schedule of Investments (unaudited) (continued)

 

The Board of Directors 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 Directors, is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to 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.

 

				11

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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 – 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 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:
Financials			—			$	2,975,467			$	993,400			$	3,968,867
Information Technology			—				1,392,917				0	*			1,392,917
Other Corporate Bonds & Notes			—				69,721,176				—				69,721,176
Senior Loans:
Communication Services			—				2,470,460				294,316				2,764,776
Consumer Discretionary			—				3,345,663				997,500				4,343,163
Consumer Staples			—				5,719,954				—				5,719,954
Financials			—				4,099,783				5,042,210				9,141,993
Health Care			—				11,123,875				1,606,695				12,730,570
Industrials			—				2,502,156				1,005,000				3,507,156
Information Technology			—				12,626,233				589,354				13,215,587
Materials			—				—				1,495,075				1,495,075
Common Stocks		$	2,197,681				—				—				2,197,681
Preferred Stocks			1,224,568				—				—				1,224,568
Total Long-Term Investments			3,422,249				115,977,684				12,023,550				131,423,483
Short-Term Investments†			2,452,524				—				—				2,452,524
Total Investments		$	5,874,773			$	115,977,684			$	12,023,550			$	133,876,007

 

†	See Schedule of Investments for additional detailed categorizations.

 

*	Amount represents less than $1.

 

12

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Notes to Schedule of Investments (unaudited) (continued)

 

The following is a reconciliation of investments in which significant unobservable inputs (Level 3) were used in determining fair value:

 

Investments in Securities		Balance as of April 30, 2021				Accrued premiums/ discounts				Realized gain (loss)				Change in unrealized appreciation (depreciation)1				Purchases
Corporate Bonds & Notes:
Financials		$	976,900				—				—			$	16,500				—
Information Technology			0	*			—				—				—				—
Materials			0	*			—			$	(1,151,780	)			1,151,780				—
Senior Loans:
Communication Services			295,236			$	54				—				(974	)			—
Consumer Discretionary			995,000				656				—				1,844				—
Financials			8,170,905				1,306				(1,138	)			11,711				—
Health Care			2,613,256				1,846				62				(5,481	)			—
Industrials			1,998,750				523				23				8,826				—
Information Technology			4,066,067				(1,407	)			(49	)			(7,170	)			—
Materials			1,498,450				160				—				(3,535	)			—
Total		$	20,614,564			$	3,138			$	(1,152,882	)		$	1,173,501				—

 

Investments in Securities (cont’d)		Sales				Transfers into Level 3				Transfers out of Level 32				Balance   as of July 31, 2021				Net change in unrealized appreciation (depreciation) for investments in securities still held at July 31, 20211
Corporate Bonds & Notes:
Financials			—				—				—			$	993,400			$	16,500
Information Technology			—				—				—				0	*			—
Materials		$	(0	)*			—				—				—				—
Senior Loans:
Communication Services			—				—				—				294,316				(974	)
Consumer Discretionary			—				—				—				997,500				1,844
Financials			(1,109,071	)			—			$	(2,031,503	)			5,042,210				30,613

 

				13

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Notes to Schedule of Investments (unaudited) (continued)

 

Investments in Securities (cont’d)		Sales				Transfers into Level 3				Transfers out of Level 32				Balance as of July 31, 2021				Net change in unrealized appreciation (depreciation) for investments in securities still held at July 31, 20211
Health Care		$	(953	)			—			$	(1,002,035	)		$	1,606,695			$	(3,695	)
Industrials			(2,500	)			—				(1,000,622	)			1,005,000				8,535
Information Technology			(1,424	)			—				(3,466,663	)			589,354				(2,782	)
Materials			—				—				—				1,495,075				(3,535	)
Total		$	(1,113,948	)			—			$	(7,500,823	)		$	12,023,550			$	46,506

 

*	Amount represents less than $1.

 

1	Change in unrealized appreciation (depreciation) includes net unrealized appreciation (depreciation) resulting from changes in investment values during the reporting period and the reversal of previously recorded unrealized appreciation (depreciation) when gains or losses are realized.

 

2	Transferred out of Level 3 as a result of the availability of a quoted price in an active market for an identical investment or the availability of other significant observable inputs.

2. Transactions with affiliated company

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended July 31, 2021. The following transactions were effected in such company for the period ended July 31, 2021.

 

		Affiliate Value at April 30,				Purchased								Sold
		2021				Cost				Shares				Cost				Shares
Western Asset Premier Institutional Government Reserves, Premium Shares			—			$	6,452,000				6,452,000			$	3,999,476				3,999,476

 

(cont’d)		Realized Gain (Loss)				Interest Income				Net Increase (Decrease) in Unrealized Appreciation (Depreciation)				Affiliate Value at July 31, 2021
Western Asset Premier Institutional Government Reserves, Premium Shares			—			$	60				—			$	2,452,524

 

14