We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Verde Science Inc (CE) | USOTC:VRCI | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.000001 | 0.00 | 01:00:00 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-04254
Legg Mason Partners Income Trust
(Exact name of registrant as specified in charter)
620 Eighth Avenue, 49 th Floor, New York, NY 10018
(Address of principal executive offices) (Zip code)
Robert I. Frenkel, Esq.
Legg Mason & Co., LLC
100 First Stamford Place
Stamford, CT 06902
(Name and address of agent for service)
Registrants telephone number, including area code: 1-877-721-1926
Date of fiscal year end: March 31
Date of reporting period: June 30, 2013
ITEM 1. | SCHEDULE OF INVESTMENTS. |
LEGG MASON PARTNERS INCOME TRUST
WESTERN ASSET NEW YORK MUNICIPALS FUND
FORM N-Q
JUNE 30, 2013
WESTERN ASSET NEW YORK MUNICIPALS FUND
Schedule of investments (unaudited) | June 30, 2013 |
SECURITY |
RATE |
MATURITY
DATE |
FACE
AMOUNT |
VALUE | ||||||||||||
MUNICIPAL BONDS - 98.1% | ||||||||||||||||
Education - 14.8% |
||||||||||||||||
Amherst, NY, Development Corp., Student Housing Facility Revenue, AGM |
5.000 | % | 10/1/40 | $ | 2,370,000 | $ | 2,430,625 | |||||||||
Buffalo & Erie County, NY, Industrial Land Development Corp. Revenue, Buffalo State College Foundation Housing Corp. Project |
5.375 | % | 10/1/41 | 2,040,000 | 2,176,088 | |||||||||||
Dutchess County, NY, Industrial Development Agency, Civic Facility Revenue, Refunding, Bard College |
5.000 | % | 8/1/19 | 1,000,000 | 1,081,790 | |||||||||||
Erie County, NY, Industrial Development Agency, School Facility Revenue, Buffalo City School District |
5.000 | % | 5/1/31 | 17,685,000 | 18,651,662 | |||||||||||
New York State Dormitory Authority Revenue: |
||||||||||||||||
4201 School Program |
5.000 | % | 7/1/18 | 275,000 | 275,822 | |||||||||||
City University of New York, Consolidated Second General Resolution, AMBAC-TCRS |
5.750 | % | 7/1/18 | 3,000,000 | 3,374,520 | |||||||||||
City University Systems, AGM |
6.000 | % | 7/1/14 | 1,085,000 | 1,109,380 | |||||||||||
City University Systems, FGIC-TCRS |
5.625 | % | 7/1/16 | 5,745,000 | 6,271,529 | |||||||||||
New York University |
5.000 | % | 7/1/38 | 10,000,000 | 10,564,500 | |||||||||||
New York University, AMBAC |
5.000 | % | 7/1/32 | 8,000,000 | 8,724,000 | |||||||||||
New York University, NATL |
5.750 | % | 7/1/27 | 6,300,000 | 7,572,852 | |||||||||||
Non-State Supported Debt, Brooklyn Law School |
5.750 | % | 7/1/33 | 1,750,000 | 1,831,078 | |||||||||||
Non-State Supported Debt, Manhattan Marymount |
5.250 | % | 7/1/29 | 2,140,000 | 2,188,535 | |||||||||||
Non-State Supported Debt, New School University |
5.500 | % | 7/1/40 | 25,000,000 | 27,204,750 | |||||||||||
Non-State Supported Debt, Skidmore College |
5.500 | % | 7/1/41 | 3,200,000 | 3,421,728 | |||||||||||
Non-State Supported Debt, St. Josephs College |
5.250 | % | 7/1/35 | 2,000,000 | 2,078,200 | |||||||||||
Non-State Supported Debt, University of New York, AMBAC |
5.000 | % | 7/1/37 | 5,000,000 | 5,235,500 | |||||||||||
State University Adult Facilities, AGM |
5.750 | % | 5/15/17 | 1,070,000 | 1,247,213 | |||||||||||
Orange County, NY, Funding Corp. Revenue: |
||||||||||||||||
Mount St. Mary College |
5.000 | % | 7/1/37 | 1,320,000 | 1,361,474 | |||||||||||
Mount St. Mary College |
5.000 | % | 7/1/42 | 500,000 | 512,005 | |||||||||||
Puerto Rico Industrial, Tourist, Educational, Medical & Environmental Pollution Control Facilities Financing Authority Revenue: |
||||||||||||||||
Ana G. Mendez University System Project |
5.000 | % | 4/1/17 | 1,540,000 | 1,590,266 | |||||||||||
Ana G. Mendez University System Project |
5.000 | % | 4/1/18 | 1,000,000 | 1,025,370 | |||||||||||
Rensselaer County, NY, IDA, Civic Facilities Revenue: |
||||||||||||||||
Polytechnic Institute Dormitory Project |
5.125 | % | 8/1/27 | 5,820,000 | 5,825,005 | |||||||||||
Polytechnic Institute Dormitory Project |
5.125 | % | 8/1/29 | 5,430,000 | 5,434,073 | |||||||||||
St. Lawrence County, NY, Industrial Development Agency, Civic Development Corp. Revenue: |
||||||||||||||||
Clarkson University Project |
6.000 | % | 9/1/34 | 600,000 | 666,924 | |||||||||||
Clarkson University Project |
5.375 | % | 9/1/41 | 1,750,000 | 1,847,388 | |||||||||||
Troy, NY, Capital Resource Corp. Revenue, Rensselaer Polytechnic Institute |
5.125 | % | 9/1/40 | 15,000,000 | 15,623,550 | |||||||||||
|
|
|||||||||||||||
Total Education |
139,325,827 | |||||||||||||||
|
|
|||||||||||||||
Health Care - 14.6% |
||||||||||||||||
Monroe County, NY, Industrial Development Corp., FHA, Insured Mortgage Revenue, Unity Hospital of Rochester Project |
5.500 | % | 8/15/40 | 9,000,000 | 9,804,420 | |||||||||||
Nassau County, NY, Industrial Development Agency Revenue, Continuing Care Retirement, Amsterdam at Harborside |
6.700 | % | 1/1/43 | 7,245,000 | 4,020,975 |
See Notes to Schedule of Investments.
1
WESTERN ASSET NEW YORK MUNICIPALS FUND
Schedule of investments (unaudited) (contd) | June 30, 2013 |
SECURITY |
RATE |
MATURITY
DATE |
FACE
AMOUNT |
VALUE | ||||||||||||
Health Care - continued |
||||||||||||||||
Nassau County, NY, Local Economic Assistance Corp. Revenue: |
||||||||||||||||
South Nassau Communities Hospital |
5.000 | % | 7/1/31 | $ | 2,000,000 | $ | 2,082,300 | |||||||||
South Nassau Communities Hospital |
5.000 | % | 7/1/37 | 1,000,000 | 1,007,920 | |||||||||||
Winthrop University Hospital Association Project |
5.000 | % | 7/1/32 | 2,000,000 | 1,959,180 | |||||||||||
Winthrop University Hospital Association Project |
5.000 | % | 7/1/42 | 9,250,000 | 8,947,618 | |||||||||||
New York City, NY, Health & Hospital Corp. Revenue, Health Systems |
5.000 | % | 2/15/30 | 15,000,000 | 16,052,850 | |||||||||||
New York State Dormitory Authority Revenue: |
||||||||||||||||
Municipal Health Facilities |
5.000 | % | 1/15/28 | 7,000,000 | 7,503,300 | |||||||||||
Municipal Health Facilities |
5.000 | % | 1/15/32 | 25,000,000 | 26,132,250 | |||||||||||
New York University Hospitals Center |
5.000 | % | 7/1/26 | 10,000,000 | 10,425,800 | |||||||||||
Non-State Supported Debt, Cabrini Westchester, GNMA-Collateralized, FHA |
5.200 | % | 2/15/41 | 4,395,000 | 4,672,676 | |||||||||||
Non-State Supported Debt, Insured Mortgage Hospital Montefiore, FHA |
5.000 | % | 8/1/22 | 2,500,000 | 2,752,775 | |||||||||||
Non-State Supported Debt, Mount Sinai Hospital |
5.000 | % | 7/1/26 | 5,000,000 | 5,403,750 | |||||||||||
Non-State Supported Debt, North Shore Long Island Jewish Medical Center |
5.250 | % | 5/1/30 | 8,750,000 | 9,359,962 | |||||||||||
Non-State Supported Debt, North Shore Long Island Jewish Medical Center |
5.500 | % | 5/1/33 | 3,000,000 | 3,239,790 | |||||||||||
Non-State Supported Debt, North Shore Long Island Jewish Medical Center |
5.500 | % | 5/1/37 | 13,000,000 | 13,962,000 | |||||||||||
North Shore University Hospital, NATL |
5.500 | % | 11/1/14 | 2,500,000 | 2,662,075 | |||||||||||
United Cerebral Palsy, AMBAC |
5.125 | % | 7/1/21 | 1,500,000 | 1,473,495 | |||||||||||
New York State Dormitory Authority Revenues, Non-State Supported Debt, NYU Hospitals Center |
6.000 | % | 7/1/40 | 4,000,000 | 4,409,560 | |||||||||||
Syracuse, NY, Industrial Development Agency Revenue, Refunding, James Square Association, FHA |
7.000 | % | 8/1/25 | 1,250,000 | 1,255,000 | |||||||||||
|
|
|||||||||||||||
Total Health Care |
137,127,696 | |||||||||||||||
|
|
|||||||||||||||
Housing - 4.8% |
||||||||||||||||
New York City, NY, HDC, MFH Rental Revenue, Seaview Towers |
4.600 | % | 7/15/26 | 8,275,000 | 8,497,349 | (a) | ||||||||||
New York City, NY, HDC, MFH Revenue |
4.600 | % | 11/1/26 | 6,250,000 | 6,332,375 | (a) | ||||||||||
New York City, NY, HDC, MFH Revenue |
4.950 | % | 11/1/39 | 10,000,000 | 10,269,100 | |||||||||||
New York City, NY, HDC, MFH Revenue |
5.150 | % | 11/1/45 | 1,630,000 | 1,680,302 | |||||||||||
New York State Housing Finance Agency: |
||||||||||||||||
Affordable Housing Revenue |
4.800 | % | 11/1/34 | 4,450,000 | 4,759,631 | |||||||||||
Affordable Housing Revenue |
4.750 | % | 11/1/36 | 1,000,000 | 1,010,510 | |||||||||||
Affordable Housing Revenue |
5.000 | % | 11/1/40 | 4,500,000 | 4,588,515 | |||||||||||
Affordable Housing Revenue |
4.875 | % | 5/1/42 | 2,875,000 | 2,912,289 | |||||||||||
Affordable Housing Revenue |
5.200 | % | 11/1/45 | 2,500,000 | 2,559,075 | |||||||||||
New York State Housing Finance Agency Revenue |
5.250 | % | 11/1/41 | 1,000,000 | 1,023,690 | |||||||||||
New York State Mortgage Agency Revenue, Homeowner Mortgage |
5.200 | % | 10/1/32 | 1,165,000 | 1,175,042 | (a) | ||||||||||
|
|
|||||||||||||||
Total Housing |
44,807,878 | |||||||||||||||
|
|
|||||||||||||||
Industrial Revenue - 12.2% |
||||||||||||||||
Brooklyn Arena, NY, Local Development Corp., Barclays Center Project |
6.250 | % | 7/15/40 | 20,000,000 | 22,479,000 | |||||||||||
Liberty, NY, Development Corporation Revenue, Goldman Sachs Headquarters |
5.500 | % | 10/1/37 | 27,000,000 | 29,812,050 | |||||||||||
New York Liberty Development Corp., Liberty Revenue: |
||||||||||||||||
4 World Trade Center LLC Project |
5.750 | % | 11/15/51 | 7,000,000 | 7,716,870 | |||||||||||
Second Priority, Bank of America Tower |
5.125 | % | 1/15/44 | 22,500,000 | 23,378,400 | |||||||||||
New York State Liberty Development Corp., Liberty Revenue, 4 World Trade Center LLC Project |
5.000 | % | 11/15/44 | 7,000,000 | 7,080,710 |
See Notes to Schedule of Investments.
2
WESTERN ASSET NEW YORK MUNICIPALS FUND
Schedule of investments (unaudited) (contd) | June 30, 2013 |
SECURITY |
RATE |
MATURITY
DATE |
FACE
AMOUNT |
VALUE | ||||||||||||
Industrial Revenue - continued |
||||||||||||||||
Port Authority of New York & New Jersey, Special Obligation Revenue, JFK International Air Terminal LLC |
6.000 | % | 12/1/42 | $ | 20,000,000 | $ | 22,339,000 | |||||||||
Puerto Rico Industrial, Medical & Environmental Pollution Control Facilities, Finance Authority Revenue, American Airlines Inc. |
6.450 | % | 12/1/25 | 1,710,000 | 1,753,879 | (b) | ||||||||||
|
|
|||||||||||||||
Total Industrial Revenue |
114,559,909 | |||||||||||||||
|
|
|||||||||||||||
Leasing - 3.8% |
||||||||||||||||
Hudson, NY, Yards Infrastructure Corp. Revenue |
5.750 | % | 2/15/47 | 10,000,000 | 10,744,600 | |||||||||||
New York State Dormitory Authority Revenue, State University Educational Facilities, AGM |
5.875 | % | 5/15/17 | 12,110,000 | 13,745,455 | |||||||||||
New York State Dormitory Authority, Lease Revenue, State University Dormitory Facilities |
5.000 | % | 7/1/39 | 7,250,000 | 7,585,820 | |||||||||||
New York State Urban Development Corp. Revenue, State Facilities |
5.700 | % | 4/1/20 | 3,000,000 | 3,488,790 | |||||||||||
|
|
|||||||||||||||
Total Leasing |
35,564,665 | |||||||||||||||
|
|
|||||||||||||||
Local General Obligation - 3.1% |
||||||||||||||||
New York, NY, GO |
5.000 | % | 8/1/23 | 25,000,000 | 28,925,500 | |||||||||||
|
|
|||||||||||||||
Other - 0.4% |
||||||||||||||||
Build NYC Resource Corp., NY, Revenue: |
||||||||||||||||
YMCA of Greater New York Project |
5.000 | % | 8/1/20 | 1,055,000 | 1,200,886 | |||||||||||
YMCA of Greater New York Project |
5.000 | % | 8/1/21 | 680,000 | 775,329 | |||||||||||
Virgin Islands Public Finance Authority Revenue, Matching Fund Loan Note |
6.000 | % | 10/1/39 | 1,750,000 | 1,894,340 | |||||||||||
|
|
|||||||||||||||
Total Other |
3,870,555 | |||||||||||||||
|
|
|||||||||||||||
Power - 6.1% |
||||||||||||||||
Long Island Power Authority, NY, Electric System Revenue |
6.000 | % | 5/1/33 | 10,000,000 | 11,346,600 | |||||||||||
New York State Energy Research & Development Authority, Gas Facilities Revenue, Brooklyn Union Gas Co. Project, RIBS |
13.457 | % | 7/1/26 | 3,000,000 | 3,018,120 | (a)(c)(d) | ||||||||||
Port Authority of New York & New Jersey, Special Obligation Revenue, 5th Installment, Special Project |
6.750 | % | 10/1/19 | 10,785,000 | 10,606,293 | (a) | ||||||||||
Puerto Rico Electric Power Authority, Power Revenue |
5.250 | % | 7/1/40 | 35,000,000 | 32,660,600 | |||||||||||
|
|
|||||||||||||||
Total Power |
57,631,613 | |||||||||||||||
|
|
|||||||||||||||
Pre-Refunded/Escrowed to Maturity - 3.8% |
||||||||||||||||
Madison County, NY, IDA, Civic Facilities Revenue, Colgate University Project |
5.000 | % | 7/1/23 | 2,250,000 | 2,250,000 | (e) | ||||||||||
MTA, New York Services Contract Transportation Facilities |
5.750 | % | 7/1/13 | 180,000 | 180,000 | (f) | ||||||||||
New York State Dormitory Authority Revenue, New York and Presbyterian Hospital, AGM, FHA |
5.000 | % | 8/15/36 | 17,215,000 | 18,134,281 | (e) | ||||||||||
New York State Dormitory Authority, State Personal Income Tax Revenue, Education |
5.000 | % | 3/15/31 | 5,000 | 5,647 | (e) | ||||||||||
New York State Environmental Facilities Corp., Clean Water & Drinking Revolving Funds |
5.000 | % | 6/15/16 | 4,980,000 | 4,994,442 | (f) | ||||||||||
Triborough Bridge & Tunnel Authority |
5.375 | % | 1/1/19 | 4,200,000 | 4,676,952 | (e) | ||||||||||
Triborough Bridge & Tunnel Authority, NATL/IBC |
5.250 | % | 11/15/30 | 5,200,000 | 5,296,408 | (e) | ||||||||||
|
|
|||||||||||||||
Total Pre-Refunded/Escrowed to Maturity |
35,537,730 | |||||||||||||||
|
|
See Notes to Schedule of Investments.
3
WESTERN ASSET NEW YORK MUNICIPALS FUND
Schedule of investments (unaudited) (contd) | June 30, 2013 |
SECURITY |
RATE |
MATURITY
DATE |
FACE
AMOUNT |
VALUE | ||||||||||||
Solid Waste/Resource Recovery - 0.1% |
||||||||||||||||
Essex County, NY, Industrial Development Agency Revenue, Solid Waste, International Paper Co. Project |
6.150 | % | 4/1/21 | $ | 1,065,000 | $ | 1,066,225 | (a) | ||||||||
North Country, NY, Development Authority, Solid Waste Management System Revenue, Refunding, AGM |
6.000 | % | 5/15/15 | 335,000 | 347,318 | |||||||||||
|
|
|||||||||||||||
Total Solid Waste/Resource Recovery |
1,413,543 | |||||||||||||||
|
|
|||||||||||||||
Special Tax Obligation - 21.2% |
||||||||||||||||
New York City, NY, TFA Revenue, Future Tax Secured |
5.000 | % | 5/1/38 | 25,000,000 | 26,756,250 | |||||||||||
New York City, NY, TFA, Building Aid Revenue, St. Aid Withholding |
5.250 | % | 1/15/39 | 27,000,000 | 28,427,220 | |||||||||||
New York State Dormitory Authority, State Personal Income Tax Revenue |
5.000 | % | 12/15/35 | 3,500,000 | 3,626,525 | |||||||||||
New York State Dormitory Authority, State Personal Income Tax Revenue |
5.000 | % | 3/15/37 | 4,000,000 | 4,227,520 | |||||||||||
New York State Dormitory Authority, State Personal Income Tax Revenue |
5.000 | % | 2/15/39 | 15,875,000 | 16,895,763 | |||||||||||
New York State Dormitory Authority, State Personal Income Tax Revenue: |
||||||||||||||||
Education |
5.000 | % | 3/15/31 | 9,995,000 | 10,981,706 | |||||||||||
General Purpose Bonds |
5.000 | % | 12/15/26 | 23,700,000 | 26,681,223 | |||||||||||
New York State Local Assistance Corp.: |
||||||||||||||||
Refunded |
6.000 | % | 4/1/14 | 770,000 | 803,087 | |||||||||||
Refunded |
5.500 | % | 4/1/17 | 3,000,000 | 3,356,430 | |||||||||||
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue |
5.750 | % | 8/1/37 | 10,000,000 | 10,246,400 | |||||||||||
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue |
5.000 | % | 8/1/40 | 10,000,000 | 10,039,200 | |||||||||||
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue |
5.250 | % | 8/1/40 | 10,000,000 | 10,204,000 | |||||||||||
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue |
5.250 | % | 8/1/41 | 1,965,000 | 1,919,785 | |||||||||||
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue |
5.500 | % | 8/1/42 | 7,500,000 | 7,532,475 | |||||||||||
Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue |
6.000 | % | 8/1/42 | 20,000,000 | 20,855,400 | |||||||||||
Virgin Islands Public Finance Authority Revenue: |
||||||||||||||||
Matching Fund Loan |
5.250 | % | 10/1/29 | 10,000,000 | 10,688,000 | |||||||||||
Matching Fund Loan |
6.750 | % | 10/1/37 | 5,000,000 | 5,486,350 | |||||||||||
|
|
|||||||||||||||
Total Special Tax Obligation |
198,727,334 | |||||||||||||||
|
|
|||||||||||||||
State General Obligation - 0.1% |
||||||||||||||||
Puerto Rico Commonwealth, GO, Refunding, Public Improvement, NATL |
5.500 | % | 7/1/16 | 1,250,000 | 1,294,562 | |||||||||||
|
|
|||||||||||||||
Transportation - 6.9% |
||||||||||||||||
MTA, New York Revenue, NATL |
5.000 | % | 11/15/35 | 10,000,000 | 10,211,900 | |||||||||||
MTA, NY, Revenue |
5.250 | % | 11/15/40 | 20,000,000 | 20,689,600 | |||||||||||
New York City, NY, Industrial Development Agency, Airport Facilities Revenue |
5.000 | % | 7/1/18 | 5,000,000 | 5,282,250 | (a) | ||||||||||
New York City, NY, Industrial Development Agency, Airport Facilities Revenue |
5.000 | % | 7/1/19 | 3,000,000 | 3,158,490 | (a) | ||||||||||
Port Authority of New York & New Jersey |
5.000 | % | 1/15/41 | 15,000,000 | 15,857,250 | |||||||||||
Triborough Bridge & Tunnel Authority, NY, Revenue |
5.000 | % | 11/15/29 | 4,675,000 | 5,125,662 | |||||||||||
Triborough Bridge & Tunnel Authority, NY, Revenue |
5.000 | % | 11/15/30 | 3,795,000 | 4,162,097 | |||||||||||
|
|
|||||||||||||||
Total Transportation |
64,487,249 | |||||||||||||||
|
|
See Notes to Schedule of Investments.
4
WESTERN ASSET NEW YORK MUNICIPALS FUND
Schedule of investments (unaudited) (contd) | June 30, 2013 |
SECURITY |
RATE |
MATURITY
DATE |
FACE
AMOUNT |
VALUE | ||||||||||||
Water & Sewer - 6.2% |
||||||||||||||||
New York City, NY, Municipal Water Finance Authority: |
||||||||||||||||
Water & Sewer System Revenue |
5.000 | % | 6/15/38 | $ | 10,000,000 | $ | 10,436,100 | |||||||||
Water & Sewer System Revenue |
5.000 | % | 6/15/39 | 7,000,000 | 7,265,860 | |||||||||||
Water & Sewer System Revenue |
5.750 | % | 6/15/40 | 15,000,000 | 16,315,350 | |||||||||||
New York City, NY, Municipal Water Finance Authority, Water & Sewer Systems Revenue |
5.000 | % | 6/15/45 | 5,000,000 | 5,216,850 | |||||||||||
New York State Environmental Facilities Corp., Clean Water & Drinking Revolving Funds |
5.000 | % | 6/15/32 | 8,500,000 | 8,523,630 | |||||||||||
New York State Environmental Facilities Corp., Water Facilities Revenue, United Water New Rochelle Inc. |
4.875 | % | 9/1/40 | 10,910,000 | 10,971,532 | |||||||||||
|
|
|||||||||||||||
Total Water & Sewer |
58,729,322 | |||||||||||||||
|
|
|||||||||||||||
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $875,195,515) |
|
922,003,383 | ||||||||||||||
|
|
|||||||||||||||
SHORT-TERM INVESTMENTS - 0.5% | ||||||||||||||||
Finance - 0.5% |
||||||||||||||||
New York City, NY, TFA Revenue, New York City Recovery Project Revenue, Subordinated, LIQ-Dexia Credit Local (Cost - $4,700,000) |
0.400 | % | 11/1/22 | 4,700,000 | 4,700,000 | (g)(h) | ||||||||||
|
|
|||||||||||||||
TOTAL INVESTMENTS - 98.6% (Cost - $879,895,515#) |
926,703,383 | |||||||||||||||
Other Assets in Excess of Liabilities - 1.4% |
12,864,985 | |||||||||||||||
|
|
|||||||||||||||
TOTAL NET ASSETS - 100.0% |
$ | 939,568,368 | ||||||||||||||
|
|
(a) | Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax (AMT). |
(b) | The coupon payment on these securities is currently in default as of June 30, 2013. |
(c) | Variable rate security. Interest rate disclosed is as of the most recent information available. |
(d) | Residual interest bonds coupon varies inversely with level of short-term tax-exempt interest rates. |
(e) | Pre-Refunded bonds are escrowed with U.S. government obligations and/or U.S. government agency securities and are considered by the manager to be triple-A rated even if issuer has not applied for new ratings. |
(f) | Bonds are escrowed to maturity by government securities and/or U.S. government agency securities and are considered by the manager to be triple-A rated even if issuer has not applied for new ratings. |
(g) | Variable rate demand obligations have a demand feature under which the Fund can tender them back to the issuer or liquidity provider on no more than 7 days notice. |
(h) | Maturity date shown is the final maturity date. The security may be sold back to the issuer before final maturity. |
# | Aggregate cost for federal income tax purposes is substantially the same. |
Abbreviations used in this schedule:
AGM | Assured Guaranty Municipal Corporation - Insured Bonds | |
AMBAC |
American Municipal Bond Assurance Corporation - Insured Bonds |
|
FGIC |
Financial Guaranty Insurance Company - Insured Bonds |
|
FHA |
Federal Housing Administration |
|
GNMA |
Government National Mortgage Association |
|
GO |
General Obligation |
|
HDC |
Housing Development Corporation |
|
IBC |
Insured Bond Certificates |
|
IDA |
Industrial Development Authority |
|
LIQ |
Liquidity Facility |
|
MFH |
Multi-Family Housing |
|
MTA |
Metropolitan Transportation Authority |
|
NATL |
National Public Finance Guarantee Corporation - Insured Bonds |
|
RIBS |
Residual Interest Bonds |
|
TCRS |
Transferable Custodial Receipts |
|
TFA |
Transitional Finance Authority |
See Notes to Schedule of Investments.
5
WESTERN ASSET NEW YORK MUNICIPALS FUND
Schedule of investments (unaudited) (contd) | June 30, 2013 |
Ratings Table* |
||||
Standard & Poors/Moodys/Fitch** | ||||
AAA/Aaa |
12.6 | % | ||
AA/Aa |
40.8 | |||
A |
30.3 | |||
BBB/Baa |
13.9 | |||
A-1/VMIG 1 |
0.5 | |||
NR |
1.9 | |||
|
||||
100.0 | % | |||
|
||||
|
* | As a percentage of total investments. |
** | The ratings shown are based on each portfolio securitys rating as determined by Standard & Poors, Moodys or Fitch, each a Nationally Recognized Statistical Rating Organization (NRSRO). These ratings are the opinions of the NRSRO and are not measures of quality or guarantees of performance. Securities may be rated by other NRSROs, and these ratings may be higher or lower. In the event that a security is rated by multiple NRSROs and receives different ratings, the Fund will treat the security as being rated in the highest rating category received from a NRSRO. |
See Notes to Schedule of Investments.
6
Notes to Schedule of Investments (unaudited)
1. Organization and significant accounting policies
Western Asset New York 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 use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Short-term fixed income securities that will mature in 60 days or less are valued at amortized cost, unless it is determined that using this method would not reflect an investments fair value. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Funds Board of Trustees.
The Board of Trustees is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Legg Mason North American Fund Valuation Committee (the Valuation Committee). The Valuation Committee, pursuant to the policies adopted by the Board of Trustees, is responsible for making fair value determinations, evaluating the effectiveness of the Funds pricing policies, and reporting to the Board of Trustees. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuers financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.
For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Trustees, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Trustees quarterly.
The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.
7
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 Funds own assumptions in determining the fair value of investments) |
The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.
The following is a summary of the inputs used in valuing the Funds assets carried at fair value:
ASSETS |
||||||||||||||||
DESCRIPTION |
QUOTED PRICES
(LEVEL 1) |
OTHER SIGNIFICANT
OBSERVABLE INPUTS (LEVEL 2) |
SIGNIFICANT
UNOBSERVABLE INPUTS (LEVEL 3) |
TOTAL | ||||||||||||
Municipal bonds |
| $ | 922,003,383 | | $ | 922,003,383 | ||||||||||
Short-term investments |
| 4,700,000 | | 4,700,000 | ||||||||||||
|
|
|
|
|
|
|
|
|||||||||
Total investments |
| $ | 926,703,383 | | $ | 926,703,383 | ||||||||||
|
|
|
|
|
|
|
|
| See Schedule of Investments for additional detailed categorizations. |
(b) Futures contracts. The Fund uses futures contracts generally to gain exposure to, or hedge against, changes in interest rates or gain exposure to, or hedge against, changes in certain asset classes. A futures contract represents a commitment for the future purchase or sale of an asset at a specified price on a specified date.
Upon entering into a futures contract, the Fund is required to deposit cash or cash equivalents with a broker in an amount equal to a certain percentage of the contract amount. This is known as the initial margin and subsequent payments (variation margin) are made or received by the Fund each day, depending on the daily fluctuation in the value of the contract.
Futures contracts involve, to varying degrees, risk of loss. In addition, there is the risk that the Fund may not be able to enter into a closing transaction because of an illiquid secondary market.
(c) Fund concentration. Since the Fund invests primarily in obligations of issuers within New York, it is subject to possible risks associated with economic, political, credit or legal developments or industrial or regional matters specifically affecting New York.
(d) | Security transactions. Security transactions are accounted for on a trade date basis. |
2. Investments
At June 30, 2013, the aggregate gross unrealized appreciation and depreciation of investments for federal income tax purposes were substantially as follows:
Gross unrealized appreciation |
$ | 57,752,155 | ||
Gross unrealized depreciation |
(10,944,287 | ) | ||
|
|
|||
Net unrealized appreciation |
$ | 46,807,868 | ||
|
|
3. Derivative instruments and hedging activities
GAAP requires enhanced disclosure about an entitys derivative and hedging activities.
8
Notes to Schedule of Investments (unaudited) (continued)
At June 30, 2013, the Fund did not have any derivative instruments outstanding.
During the period ended June 30, 2013, the volume of derivative activity for the Fund was as follows:
Average Market Value | ||||
Futures contracts (to sell) |
$ | 26,426,250 |
| At June 30, 2013, there were no open positions held in this derivative. |
9
ITEM 2. | CONTROLS AND PROCEDURES. |
(a) | The registrants principal executive officer and principal financial officer have concluded that the registrants disclosure controls and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the 1940 Act)) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934. |
(b) | There were no changes in the registrants internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrants last fiscal quarter that have materially affected, or are likely to materially affect the registrants internal control over financial reporting. |
ITEM 3. | EXHIBITS. |
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Legg Mason Partners Income Trust | ||
By | /s/ K ENNETH D. F ULLER | |
Kenneth D. Fuller | ||
Chief Executive Officer | ||
Date: August 26, 2013 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By | /s/ K ENNETH D. F ULLER | |
Kenneth D. Fuller | ||
Chief Executive Officer | ||
Date: August 26, 2013 | ||
By | /s/ R ICHARD F. S ENNETT | |
Richard F. Sennett | ||
Principal Financial Officer | ||
Date: August 26, 2013 |
1 Year Verde Science (CE) Chart |
1 Month Verde Science (CE) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions