WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| MUNICIPAL BONDS - 154.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alabama - 1.7% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alabama State Corrections Institution Finance Authority Revenue,
Series A |
|
|
5.250 |
% |
|
|
7/1/52 |
|
|
$ |
750,000 |
|
|
$ |
794,596 |
|
| Black Belt Energy Gas District, AL, Gas Project Revenue Bonds: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Project No 6, Series B |
|
|
4.000 |
% |
|
|
12/1/26 |
|
|
|
150,000 |
|
|
|
146,661
|
(a)(b)
|
| Series D-1, Refunding |
|
|
5.500 |
% |
|
|
2/1/29 |
|
|
|
250,000 |
|
|
|
260,931 |
(a)(b)(c) |
| Hoover, AL, IDA Revenue, United States Steel Corp. Project, Series 2019 |
|
|
5.750 |
% |
|
|
10/1/49 |
|
|
|
200,000 |
|
|
|
201,926 |
(d) |
| Southeast Alabama Gas Supply District, Gas Supply Revenue, Project No 2, Series A |
|
|
4.000 |
% |
|
|
6/1/24 |
|
|
|
850,000 |
|
|
|
846,368 |
(a)(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Alabama |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,250,482 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alaska - 1.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alaska State Housing Finance Corp. Revenue, State Capital Project II, Series B |
|
|
5.000 |
% |
|
|
12/1/39 |
|
|
|
245,000 |
|
|
|
257,379 |
|
| Anchorage, AK, Port Revenue, Series A |
|
|
5.000 |
% |
|
|
12/1/50 |
|
|
|
300,000 |
|
|
|
294,499 |
(d) |
| Northern Tobacco Securitization Corp., AK, Tobacco Settlement Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Asset Backed Senior Bonds, Class 1, Series A, Refunding |
|
|
4.000 |
% |
|
|
6/1/39 |
|
|
|
500,000 |
|
|
|
480,764 |
|
| Asset Backed Senior Bonds, Class 1, Series A, Refunding |
|
|
4.000 |
% |
|
|
6/1/50 |
|
|
|
250,000 |
|
|
|
221,071 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Alaska |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,253,713 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arizona - 3.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Chandler, AZ, IDA Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Intel Corp. Project |
|
|
5.000 |
% |
|
|
6/3/24 |
|
|
|
1,650,000 |
|
|
|
1,656,359 |
(a)(b)(d) |
| Intel Corp. Project |
|
|
4.100 |
% |
|
|
6/15/28 |
|
|
|
300,000 |
|
|
|
299,131 |
(a)(b)(d) |
| Navajo Nation, AZ, Revenue, Series A, Refunding |
|
|
5.500 |
% |
|
|
12/1/30 |
|
|
|
275,000 |
|
|
|
282,549 |
(e) |
| Salt Verde, AZ, Financial Corp., Natural Gas Revenue, Series 2007 |
|
|
5.000 |
% |
|
|
12/1/32 |
|
|
|
2,000,000 |
|
|
|
2,078,842 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Arizona |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,316,881 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arkansas - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arkansas State Development Finance Authority, Environmental Improvement Revenue, United States Steel Corporation
Project, Green Bonds |
|
|
5.700 |
% |
|
|
5/1/53 |
|
|
|
250,000 |
|
|
|
251,055 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
1 |
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| California - 15.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Alameda, CA, Corridor Transportation Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Convertible CAB, Series C, Refunding, AGM |
|
|
5.000 |
% |
|
|
10/1/52 |
|
|
$ |
600,000 |
|
|
$ |
635,016 |
|
| Second Subordinated Lien, Series B, Refunding |
|
|
5.000 |
% |
|
|
10/1/34 |
|
|
|
500,000 |
|
|
|
511,904 |
|
| Bay Area Toll Authority, CA, Toll Bridge Revenue, San Francisco Bay Area, Series
B-1 (SIFMA Municipal Swap Index Yield + 1.100%) |
|
|
5.160 |
% |
|
|
4/1/24 |
|
|
|
2,500,000 |
|
|
|
2,501,109 |
(a)(b) |
| California State Community Choice Financing Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clean Energy Project, Green Bonds, Series A-1 |
|
|
4.000 |
% |
|
|
8/1/28 |
|
|
|
150,000 |
|
|
|
148,021 |
(a)(b) |
| Clean Energy Project, Green Bonds, Series B-1 |
|
|
5.000 |
% |
|
|
8/1/29 |
|
|
|
700,000 |
|
|
|
727,865 |
(a)(b) |
| California State MFA Revenue, Senior Lien, LINXS APM Project,
Series A |
|
|
5.000 |
% |
|
|
12/31/43 |
|
|
|
1,000,000 |
|
|
|
1,000,548 |
(d) |
| California State PCFA Water Furnishing Revenue, Poseidon Resources Desalination Project |
|
|
5.000 |
% |
|
|
11/21/45 |
|
|
|
1,000,000 |
|
|
|
976,332 |
(d)(e) |
| Eastern Municipal Water District Financing Authority, CA, Water & Wastewater Revenue, Series D |
|
|
5.000 |
% |
|
|
7/1/47 |
|
|
|
1,000,000 |
|
|
|
1,046,921 |
|
| Los Angeles, CA, Department of Water & Power, Power System Revenue, Series A |
|
|
5.000 |
% |
|
|
7/1/42 |
|
|
|
1,000,000 |
|
|
|
1,041,463 |
|
| M-S-R Energy Authority, CA, Natural Gas
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series B |
|
|
7.000 |
% |
|
|
11/1/34 |
|
|
|
2,490,000 |
|
|
|
3,039,160 |
|
| Series C |
|
|
6.500 |
% |
|
|
11/1/39 |
|
|
|
2,000,000 |
|
|
|
2,376,495 |
|
| Northern California Energy Authority, Commodity Supply Revenue, Series A |
|
|
4.000 |
% |
|
|
7/1/24 |
|
|
|
500,000 |
|
|
|
499,269 |
(a)(b) |
| River Islands, CA, Public Financing Authority, Special Tax Revenue, Community Facilities District No 2003-1 |
|
|
5.750 |
% |
|
|
9/1/52 |
|
|
|
400,000 |
|
|
|
388,601 |
|
| Riverside, CA, Electric Revenue, Series A, Refunding |
|
|
5.000 |
% |
|
|
10/1/48 |
|
|
|
750,000 |
|
|
|
793,585 |
|
| San Bernardino, CA, USD Revenue, COP, 2019 School Financing Project, AGM |
|
|
5.000 |
% |
|
|
10/1/38 |
|
|
|
300,000 |
|
|
|
319,010 |
|
| San Francisco, CA, City & County Airport Commission, International Airport Revenue, Second Series A,
Refunding |
|
|
5.000 |
% |
|
|
5/1/47 |
|
|
|
1,500,000 |
|
|
|
1,511,994 |
(d) |
See Notes to
Schedule of Investments.
|
|
|
|
|
|
2 |
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| California - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Sanger, CA, USD Revenue, COP, Capital Projects, Refunding, AGM |
|
|
5.000 |
% |
|
|
6/1/49 |
|
|
$ |
250,000 |
|
|
$ |
254,896 |
|
| Tobacco Securitization Authority of Southern California Revenue, Asset Backed Refunding, San Diego County Tobacco Asset
Securitization Corporation, Class 1, Series A |
|
|
5.000 |
% |
|
|
6/1/48 |
|
|
|
300,000 |
|
|
|
309,870 |
|
| Tulare, CA, Sewer Revenue, Refunding, AGM |
|
|
5.000 |
% |
|
|
11/15/41 |
|
|
|
2,000,000 |
|
|
|
2,056,375 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total California |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
20,138,434 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Colorado - 4.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Base Village Metropolitan District No 2, CO, GO, Series A, Refunding |
|
|
5.750 |
% |
|
|
12/1/46 |
|
|
|
500,000 |
|
|
|
500,286 |
|
| Colorado State Health Facilities Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Commonspirit Health Initiatives, Series B-2 |
|
|
5.000 |
% |
|
|
8/1/26 |
|
|
|
300,000 |
|
|
|
307,233 |
(a)(b) |
| Commonspirit Health Project, Series A-2 |
|
|
4.000 |
% |
|
|
8/1/49 |
|
|
|
600,000 |
|
|
|
519,996 |
|
| Colorado State High Performance Transportation Enterprise Revenue, C-470
Express Lanes |
|
|
5.000 |
% |
|
|
12/31/51 |
|
|
|
200,000 |
|
|
|
197,301 |
|
| Public Authority for Colorado Energy, Natural Gas Purchase Revenue |
|
|
6.500 |
% |
|
|
11/15/38 |
|
|
|
3,500,000 |
|
|
|
4,105,142 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Colorado |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,629,958 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Connecticut - 2.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Connecticut State Special Tax Revenue, Transportation Infrastructure, Series A |
|
|
5.000 |
% |
|
|
1/1/37 |
|
|
|
500,000 |
|
|
|
528,075 |
|
| Connecticut State, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
4.000 |
% |
|
|
4/15/37 |
|
|
|
500,000 |
|
|
|
503,951 |
|
| Series E |
|
|
5.000 |
% |
|
|
10/15/34 |
|
|
|
270,000 |
|
|
|
281,893 |
|
| Harbor Point, CT, Infrastructure Improvement District, Special Obligation Revenue, Harbor Point Project Ltd.,
Refunding |
|
|
5.000 |
% |
|
|
4/1/39 |
|
|
|
250,000 |
|
|
|
250,504 |
(e) |
| University of Connecticut, Student Fee Revenue, Series A |
|
|
5.000 |
% |
|
|
11/15/43 |
|
|
|
1,000,000 |
|
|
|
1,045,793 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Connecticut |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,610,216 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Delaware - 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Delaware State Health Facilities Authority Revenue, Beebe Medical Center Project |
|
|
5.000 |
% |
|
|
6/1/48 |
|
|
|
500,000 |
|
|
|
499,270 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| District of Columbia - 0.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| District of Columbia Revenue, KIPP DC Issue, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/37 |
|
|
|
800,000 |
|
|
|
811,612 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
3 |
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Florida - 10.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Broward County, FL, Airport System Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2017 |
|
|
5.000 |
% |
|
|
10/1/47 |
|
|
$ |
350,000 |
|
|
$ |
352,842 |
(d) |
| Series A |
|
|
5.000 |
% |
|
|
10/1/45 |
|
|
|
1,000,000 |
|
|
|
1,000,827 |
(d) |
| Florida State Development Finance Corp., Educational Facilities Revenue, Renaissance Charter School Inc. Projects,
Series A |
|
|
6.125 |
% |
|
|
6/15/46 |
|
|
|
160,000 |
|
|
|
159,301 |
(e) |
| Florida State Insurance Assistance Interlocal Agency Inc. Revenue,
Series
A-1 |
|
|
5.000 |
% |
|
|
9/1/26 |
|
|
|
1,300,000 |
|
|
|
1,343,502 |
|
| Florida State Mid-Bay Bridge Authority Revenue, First Senior Lien,
Series A,
Refunding |
|
|
5.000 |
% |
|
|
10/1/40 |
|
|
|
740,000 |
|
|
|
742,460 |
|
| Fort Pierce, FL, Utilities Authority Revenue, Series A, Refunding, AGM |
|
|
4.000 |
% |
|
|
10/1/52 |
|
|
|
200,000 |
|
|
|
184,211 |
|
| Greater Orlando, FL, Aviation Authority, Airport Facilities Revenue, Priority Subordinated, Series A |
|
|
5.000 |
% |
|
|
10/1/42 |
|
|
|
500,000 |
|
|
|
507,706 |
(d) |
| Hillsborough County, FL, Aviation Authority Revenue, Tampa International Airport, Series E |
|
|
5.000 |
% |
|
|
10/1/43 |
|
|
|
250,000 |
|
|
|
255,657 |
(d) |
| Miami-Dade County, FL, Aviation Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A, Refunding |
|
|
5.000 |
% |
|
|
10/1/41 |
|
|
|
3,000,000 |
|
|
|
3,049,527 |
|
| Series A, Refunding |
|
|
5.000 |
% |
|
|
10/1/49 |
|
|
|
500,000 |
|
|
|
507,911 |
(d) |
| Miami-Dade County, FL, Seaport Revenue, Senior Bonds, Series A, Refunding |
|
|
5.250 |
% |
|
|
10/1/52 |
|
|
|
1,000,000 |
|
|
|
1,027,659 |
(d) |
| Orange County, FL, Health Facilities Authority Revenue, Orlando Health Inc., Series A |
|
|
5.000 |
% |
|
|
10/1/53 |
|
|
|
300,000 |
|
|
|
307,319 |
|
| Palm Beach County, FL, Health Facilities Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Jupiter Medical Center Project, Series A |
|
|
5.000 |
% |
|
|
11/1/52 |
|
|
|
650,000 |
|
|
|
614,029 |
|
| Toby & Leon Cooperman Sinai Residences of Boca Raton Expansion, Refunding |
|
|
4.000 |
% |
|
|
6/1/41 |
|
|
|
150,000 |
|
|
|
117,232 |
|
| Pasco County, FL, Capital Improvement, Cigarette Tax Allocation Bonds, H. Lee Moffitt Cancer Center Project, Series A,
AGM |
|
|
5.750 |
% |
|
|
9/1/54 |
|
|
|
2,175,000 |
|
|
|
2,397,145 |
|
| Volusia County, FL, EFA Revenue, Educational Facilities Embry-Riddle Aeronautical University Inc. Project,
Refunding |
|
|
5.000 |
% |
|
|
10/15/47 |
|
|
|
1,000,000 |
|
|
|
1,017,025 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Florida |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,584,353 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Georgia - 1.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Cobb County, GA, Kennestone Hospital Authority Revenue, Wellstar Health System, Inc. Project, Series A |
|
|
5.000 |
% |
|
|
4/1/50 |
|
|
|
250,000 |
|
|
|
253,266 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
4 |
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Georgia - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Georgia State Municipal Electric Authority, Power Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Plant Vogtle Units 3&4, Project M, Series A |
|
|
5.250 |
% |
|
|
7/1/64 |
|
|
$ |
250,000 |
|
|
$ |
258,541 |
|
| Plant Vogtle Units 3&4, Project P, Series A |
|
|
5.000 |
% |
|
|
1/1/56 |
|
|
|
295,000 |
|
|
|
294,961 |
|
| Plant Vogtle Units 3&4, Project P, Series A |
|
|
5.500 |
% |
|
|
7/1/64 |
|
|
|
200,000 |
|
|
|
207,358 |
|
| Project One, Series A |
|
|
5.000 |
% |
|
|
1/1/50 |
|
|
|
250,000 |
|
|
|
255,960 |
|
| Main Street Natural Gas Inc., GA, Gas Project Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
5.000 |
% |
|
|
5/15/43 |
|
|
|
650,000 |
|
|
|
653,618 |
|
| Series C |
|
|
5.000 |
% |
|
|
9/1/30 |
|
|
|
350,000 |
|
|
|
363,537 |
(a)(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Georgia |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,287,241 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Guam - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Guam Government, Business Privilege Tax Revenue, Series F, Refunding |
|
|
4.000 |
% |
|
|
1/1/36 |
|
|
|
260,000 |
|
|
|
244,186 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Illinois - 21.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Chicago, IL, Board of Education, Dedicated Capital Improvement, Special Tax Revenue, Series 2018 |
|
|
5.000 |
% |
|
|
4/1/42 |
|
|
|
500,000 |
|
|
|
505,621 |
|
| Chicago, IL, Board of Education, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Dedicated, Series G, Refunding |
|
|
5.000 |
% |
|
|
12/1/44 |
|
|
|
330,000 |
|
|
|
322,409 |
|
| Dedicated, Series H |
|
|
5.000 |
% |
|
|
12/1/46 |
|
|
|
1,250,000 |
|
|
|
1,210,137 |
|
| Series D |
|
|
5.000 |
% |
|
|
12/1/46 |
|
|
|
2,000,000 |
|
|
|
1,948,960 |
|
| Chicago, IL, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/28 |
|
|
|
750,000 |
|
|
|
784,856 |
|
| Series A, Refunding |
|
|
6.000 |
% |
|
|
1/1/38 |
|
|
|
500,000 |
|
|
|
527,181 |
|
| Series C, Refunding |
|
|
5.000 |
% |
|
|
1/1/25 |
|
|
|
1,000,000 |
|
|
|
1,012,369 |
|
| Chicago, IL, O’Hare International Airport Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General Senior Lien, Series B, Refunding |
|
|
5.000 |
% |
|
|
1/1/41 |
|
|
|
250,000 |
|
|
|
253,823 |
|
| Senior Lien, Series D |
|
|
5.000 |
% |
|
|
1/1/47 |
|
|
|
500,000 |
|
|
|
507,955 |
|
| Senior Lien, Series D |
|
|
5.000 |
% |
|
|
1/1/52 |
|
|
|
500,000 |
|
|
|
505,948 |
|
| Series C |
|
|
5.000 |
% |
|
|
1/1/35 |
|
|
|
2,200,000 |
|
|
|
2,213,241 |
(d) |
| Series C, Refunding |
|
|
5.000 |
% |
|
|
1/1/43 |
|
|
|
750,000 |
|
|
|
771,264 |
(d) |
| TrIPS Obligated Group |
|
|
5.000 |
% |
|
|
7/1/48 |
|
|
|
200,000 |
|
|
|
192,293 |
(d) |
| Chicago, IL, Transit Authority, Sales Tax Receipts Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second Lien |
|
|
5.000 |
% |
|
|
12/1/51 |
|
|
|
250,000 |
|
|
|
251,550 |
|
| Second Lien, Series A, Refunding |
|
|
4.000 |
% |
|
|
12/1/55 |
|
|
|
600,000 |
|
|
|
524,264 |
|
| Chicago, IL, Wastewater Transmission Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second Lien, Series A, AGM |
|
|
5.250 |
% |
|
|
1/1/53 |
|
|
|
500,000 |
|
|
|
533,140 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
5 |
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Illinois - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second Lien, Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/47 |
|
|
$ |
400,000 |
|
|
$ |
403,734 |
|
| Second Lien, Series B, Refunding |
|
|
5.000 |
% |
|
|
1/1/38 |
|
|
|
750,000 |
|
|
|
760,874 |
|
| Chicago, IL, Waterworks Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second Lien Project |
|
|
5.000 |
% |
|
|
11/1/34 |
|
|
|
800,000 |
|
|
|
809,155 |
|
| Second Lien Project |
|
|
5.000 |
% |
|
|
11/1/39 |
|
|
|
500,000 |
|
|
|
503,046 |
|
| Cook County, IL, Sales Tax Revenue, Series A, Refunding |
|
|
4.000 |
% |
|
|
11/15/41 |
|
|
|
750,000 |
|
|
|
724,408 |
|
| Illinois State Finance Authority Revenue, Northshore University Healthsystem, Series A, Refunding |
|
|
4.000 |
% |
|
|
8/15/40 |
|
|
|
500,000 |
|
|
|
486,482 |
|
| Illinois State Sports Facilities Authority Revenue, Sport Facilities Project, Series 2019, Refunding, BAM |
|
|
5.000 |
% |
|
|
6/15/29 |
|
|
|
250,000 |
|
|
|
259,697 |
|
| Illinois State Toll Highway Authority Revenue, Senior Series A, Refunding |
|
|
5.000 |
% |
|
|
12/1/31 |
|
|
|
1,500,000 |
|
|
|
1,546,567 |
|
| Illinois State, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2016 |
|
|
5.000 |
% |
|
|
1/1/33 |
|
|
|
500,000 |
|
|
|
509,673 |
|
| Series 2016 |
|
|
5.000 |
% |
|
|
11/1/33 |
|
|
|
650,000 |
|
|
|
665,795 |
|
| Series 2016, Refunding |
|
|
5.000 |
% |
|
|
2/1/29 |
|
|
|
440,000 |
|
|
|
458,542 |
|
| Series A |
|
|
5.000 |
% |
|
|
5/1/36 |
|
|
|
250,000 |
|
|
|
259,310 |
|
| Series A |
|
|
5.000 |
% |
|
|
3/1/37 |
|
|
|
750,000 |
|
|
|
790,779 |
|
| Series A |
|
|
5.000 |
% |
|
|
5/1/39 |
|
|
|
600,000 |
|
|
|
614,156 |
|
| Series A |
|
|
5.000 |
% |
|
|
3/1/46 |
|
|
|
500,000 |
|
|
|
513,267 |
|
| Series A, Refunding |
|
|
5.000 |
% |
|
|
10/1/29 |
|
|
|
1,300,000 |
|
|
|
1,383,969 |
|
| Series D |
|
|
5.000 |
% |
|
|
11/1/27 |
|
|
|
400,000 |
|
|
|
421,091 |
|
| Metropolitan Pier & Exposition Authority, IL, Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| McCormick Place Expansion Project, Series A, Refunding |
|
|
4.000 |
% |
|
|
12/15/42 |
|
|
|
750,000 |
|
|
|
689,243 |
|
| McCormick Place Expansion Project, Series A, Refunding |
|
|
5.000 |
% |
|
|
6/15/50 |
|
|
|
1,000,000 |
|
|
|
1,003,045 |
|
| McCormick Place Expansion Project, Series B, Refunding |
|
|
5.000 |
% |
|
|
6/15/42 |
|
|
|
1,500,000 |
|
|
|
1,532,934 |
|
| Regional Transportation Authority, IL, GO, Series A, Refunding, NATL |
|
|
6.000 |
% |
|
|
7/1/29 |
|
|
|
1,300,000 |
|
|
|
1,443,616 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Illinois |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
27,844,394 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Indiana - 1.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Indiana State Finance Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Marion General Hospital, Series A |
|
|
4.000 |
% |
|
|
7/1/45 |
|
|
|
300,000 |
|
|
|
267,363 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
6 |
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Indiana - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Midwestern Disaster Relief, Ohio Valley Electric Corp. Project, Series A |
|
|
4.250 |
% |
|
|
11/1/30 |
|
|
$ |
250,000 |
|
|
$ |
249,601 |
|
| Indianapolis, IN, Local Public Improvement Bond Bank, Courthouse and Jail Project, Series A |
|
|
5.000 |
% |
|
|
2/1/54 |
|
|
|
850,000 |
|
|
|
880,036 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Indiana |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,397,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Iowa - 1.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Iowa State Finance Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Midwestern Disaster Area, Iowa Fertilizer Co. Project, Refunding |
|
|
5.000 |
% |
|
|
12/1/42 |
|
|
|
1,000,000 |
|
|
|
1,005,792 |
(a)(b) |
| Midwestern Disaster Area, Iowa Fertilizer Co. Project, Refunding |
|
|
5.000 |
% |
|
|
12/1/50 |
|
|
|
500,000 |
|
|
|
494,822 |
|
| Iowa State Tobacco Settlement Authority Revenue, Asset Backed Senior Bonds, Class 1, Series A-2, Refunding |
|
|
4.000 |
% |
|
|
6/1/49 |
|
|
|
200,000 |
|
|
|
180,037 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Iowa |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,680,651 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Kentucky - 1.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Kentucky State PEA, Gas Supply Revenue, Series A |
|
|
4.000 |
% |
|
|
6/1/26 |
|
|
|
1,500,000 |
|
|
|
1,487,204 |
(a)(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Louisiana - 2.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Port New Orleans, LA, Board of Commissioners Revenue, Series B, Refunding, AGM |
|
|
5.000 |
% |
|
|
4/1/43 |
|
|
|
500,000 |
|
|
|
505,255 |
(d) |
| Shreveport, LA, Water & Sewer Revenue, Refunding, AGM |
|
|
5.000 |
% |
|
|
12/1/34 |
|
|
|
2,080,000 |
|
|
|
2,113,289 |
|
| St. John the Baptist Parish, LA, State Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Marathon Oil Corp. Project, Series A-3, Refunding |
|
|
2.200 |
% |
|
|
7/1/26 |
|
|
|
500,000 |
|
|
|
471,090 |
(a)(b) |
| Marathon Oil Corp. Project, Series B-2, Refunding |
|
|
2.375 |
% |
|
|
7/1/26 |
|
|
|
350,000 |
|
|
|
331,371 |
(a)(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Louisiana |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,421,005 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maryland - 0.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Maryland State EDC, Senior Student Housing Revenue, Morgan State University Project |
|
|
4.000 |
% |
|
|
7/1/40 |
|
|
|
500,000 |
|
|
|
471,251 |
|
| Maryland State Stadium Authority, Built to Learn Revenue, Series 2021 |
|
|
4.000 |
% |
|
|
6/1/46 |
|
|
|
350,000 |
|
|
|
335,679 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Maryland |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
806,930 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Massachusetts - 4.7% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Massachusetts State Clean Water Trust, Unrefunded Balance, MWRA Project, Subordinated, Series A |
|
|
5.750 |
% |
|
|
8/1/29 |
|
|
|
355,000 |
|
|
|
355,584 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
7 |
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Massachusetts - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Massachusetts State DFA Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Boston Medical Center, Sustainability Bonds, Series G, Refunding |
|
|
5.250 |
% |
|
|
7/1/52 |
|
|
$ |
500,000 |
|
|
$ |
512,006 |
|
| International Charter School |
|
|
5.000 |
% |
|
|
4/15/40 |
|
|
|
1,875,000 |
|
|
|
1,801,742 |
|
| Northeastern University Issue, Refunding |
|
|
5.000 |
% |
|
|
10/1/44 |
|
|
|
750,000 |
|
|
|
810,983 |
|
| UMass Boston Student Housing Project |
|
|
5.000 |
% |
|
|
10/1/48 |
|
|
|
200,000 |
|
|
|
193,607 |
|
| Massachusetts State Port Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bosfuel Project, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/49 |
|
|
|
400,000 |
|
|
|
407,313 |
(d) |
| Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/36 |
|
|
|
500,000 |
|
|
|
529,043 |
(d) |
| Series E |
|
|
5.000 |
% |
|
|
7/1/46 |
|
|
|
1,500,000 |
|
|
|
1,550,601 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Massachusetts |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
6,160,879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Michigan - 2.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Detroit, MI, Downtown Development Authority Revenue, Catalyst Development, Series A, Refunding, AGM |
|
|
5.000 |
% |
|
|
7/1/43 |
|
|
|
300,000 |
|
|
|
300,610 |
|
| Great Lakes, MI, Water Authority, Water Supply System Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Lien, Series A |
|
|
5.000 |
% |
|
|
7/1/46 |
|
|
|
1,295,000 |
|
|
|
1,305,463 |
|
| Senior Lien, Series C, Refunding |
|
|
5.000 |
% |
|
|
7/1/35 |
|
|
|
150,000 |
|
|
|
156,069 |
|
| Michigan State Finance Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Facilities Program, Series 1-A, Refunding |
|
|
5.250 |
% |
|
|
10/15/47 |
|
|
|
250,000 |
|
|
|
250,448 |
|
| Local Government Loan Program, Detroit, MI, Water & Sewer Department, Series
C-6, Refunding |
|
|
5.000 |
% |
|
|
7/1/33 |
|
|
|
370,000 |
|
|
|
373,641 |
|
| Tobacco Settlement Asset Backed Senior Bonds, Series B-1, Refunding |
|
|
5.000 |
% |
|
|
6/1/49 |
|
|
|
55,000 |
|
|
|
55,931 |
|
| Michigan State Strategic Fund Limited Obligation Revenue, I-75 Improvement
Project |
|
|
5.000 |
% |
|
|
12/31/43 |
|
|
|
400,000 |
|
|
|
401,912 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Michigan |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,844,074 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Missouri - 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Missouri State HEFA Revenue, Lutheran Senior Service Projects, Series A |
|
|
5.000 |
% |
|
|
2/1/42 |
|
|
|
150,000 |
|
|
|
143,385 |
|
| St. Louis County, MO, IDA, Senior Living Facilities Revenue, Friendship Village, St. Louis Obligated Group, Series
A |
|
|
5.000 |
% |
|
|
9/1/38 |
|
|
|
350,000 |
|
|
|
324,527 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Missouri |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
467,912 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Nebraska - 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Omaha, NE, Public Power District, Electric System Revenue, Series B, Refunding |
|
|
4.000 |
% |
|
|
2/1/46 |
|
|
|
500,000 |
|
|
|
473,922 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
8 |
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| New Hampshire - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| National Finance Authority, NH, Revenue, Presbyterian Senior Living Project, Series A |
|
|
5.250 |
% |
|
|
7/1/48 |
|
|
$ |
250,000 |
|
|
$ |
246,567 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New Jersey - 11.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Casino Reinvestment Development Authority, NJ, Luxury Tax Revenue, Refunding, AGM |
|
|
5.000 |
% |
|
|
11/1/27 |
|
|
|
240,000 |
|
|
|
244,368 |
|
| New Jersey State EDA Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Private Activity-The Goethals Bridge Replacement Project |
|
|
5.375 |
% |
|
|
1/1/43 |
|
|
|
1,000,000 |
|
|
|
1,001,352 |
(d) |
| Provident Group - Rowan Properties LLC, Rowan University Housing Project |
|
|
5.000 |
% |
|
|
1/1/48 |
|
|
|
500,000 |
|
|
|
451,169 |
|
| Special Facility, Port Newark Container Terminal LLC Project, Refunding |
|
|
5.000 |
% |
|
|
10/1/37 |
|
|
|
175,000 |
|
|
|
179,066 |
(d) |
| New Jersey State EDA, Special Facility Revenue, Continental Airlines Inc. Project |
|
|
5.250 |
% |
|
|
9/15/29 |
|
|
|
2,000,000 |
|
|
|
2,005,686 |
(d) |
| New Jersey State EFA Revenue, Stevens Institute of Technology, Refunding |
|
|
5.000 |
% |
|
|
7/1/42 |
|
|
|
3,000,000 |
|
|
|
3,018,451 |
|
| New Jersey State Health Care Facilities Financing Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Hackensack Meridian Health, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/38 |
|
|
|
100,000 |
|
|
|
103,822 |
|
| RWJ Barnabas Health Obligation Group, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/43 |
|
|
|
300,000 |
|
|
|
305,019 |
|
| New Jersey State Transportation Trust Fund Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Transportation Program, Series AA |
|
|
5.000 |
% |
|
|
6/15/39 |
|
|
|
2,125,000 |
|
|
|
2,251,149 |
|
| Transportation Program, Series AA, Refunding |
|
|
5.000 |
% |
|
|
6/15/36 |
|
|
|
4,000,000 |
|
|
|
4,367,966 |
|
| Transportation System, Series A, Refunding |
|
|
5.000 |
% |
|
|
12/15/28 |
|
|
|
1,050,000 |
|
|
|
1,134,251 |
|
| Tobacco Settlement Financing Corp., NJ, Revenue, Series A, Refunding |
|
|
5.250 |
% |
|
|
6/1/46 |
|
|
|
200,000 |
|
|
|
206,582 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total New Jersey |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
15,268,881 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New York - 23.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Brookhaven, NY, Local Development Corp. Revenue, Long Island Community Hospital Project, Series A, Refunding |
|
|
5.000 |
% |
|
|
10/1/32 |
|
|
|
750,000 |
|
|
|
806,503 |
|
| MTA, NY, Dedicated Tax Fund Revenue, Green Bonds, Subseries A-2 |
|
|
5.000 |
% |
|
|
11/15/47 |
|
|
|
500,000 |
|
|
|
516,022 |
|
| MTA, NY, Transportation Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Green Bonds, Series E, Refunding |
|
|
5.000 |
% |
|
|
11/15/30 |
|
|
|
250,000 |
|
|
|
269,163 |
|
| Green Bonds, Series E, Refunding |
|
|
4.000 |
% |
|
|
11/15/45 |
|
|
|
500,000 |
|
|
|
457,878 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
9 |
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| New York - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A-2 |
|
|
5.000 |
% |
|
|
5/15/30 |
|
|
$ |
500,000 |
|
|
$ |
531,126 |
(a)(b) |
| Series B, Refunding |
|
|
5.000 |
% |
|
|
11/15/37 |
|
|
|
250,000 |
|
|
|
254,633 |
|
| New York City, NY, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
5.000 |
% |
|
|
8/1/51 |
|
|
|
500,000 |
|
|
|
529,398 |
|
| Subseries A-1 |
|
|
4.000 |
% |
|
|
8/1/40 |
|
|
|
1,250,000 |
|
|
|
1,223,234 |
|
| New York City, NY, Industrial Development Agency Revenue, Yankee Stadium Project, Refunding |
|
|
4.000 |
% |
|
|
3/1/45 |
|
|
|
400,000 |
|
|
|
360,907 |
|
| New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Second General Resolution Fiscal 2022, Series AA, Subseries AA-1 |
|
|
4.000 |
% |
|
|
6/15/51 |
|
|
|
1,300,000 |
|
|
|
1,226,454 |
|
| Second General Resolution, Series CC-1, Refunding |
|
|
5.000 |
% |
|
|
6/15/46 |
|
|
|
1,000,000 |
|
|
|
1,028,294 |
|
| New York City, NY, TFA, Future Tax Secured Revenue, Subordinated, Subseries A-1
|
|
|
5.000 |
% |
|
|
5/1/53 |
|
|
|
2,250,000 |
|
|
|
2,378,660 |
|
| New York State Dormitory Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-State Supported Debt, Memorial Sloan- Kettering Cancer Center, Series B-1 |
|
|
4.000 |
% |
|
|
7/1/51 |
|
|
|
500,000 |
|
|
|
463,278 |
|
| Non-State Supported Debt, New School University, Series A |
|
|
5.000 |
% |
|
|
7/1/35 |
|
|
|
1,900,000 |
|
|
|
1,935,399 |
|
| New York State Dormitory Authority, Sales Tax Revenue, Bidding Group 4, Series E, Refunding |
|
|
5.000 |
% |
|
|
3/15/44 |
|
|
|
850,000 |
|
|
|
887,459 |
|
| New York State Dormitory Authority, State Personal Income Tax Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Bidding Group 4, Series A, Refunding |
|
|
5.000 |
% |
|
|
3/15/45 |
|
|
|
1,000,000 |
|
|
|
1,043,820 |
|
| Bidding Group 4, Series D, Refunding |
|
|
4.000 |
% |
|
|
2/15/40 |
|
|
|
3,100,000 |
|
|
|
3,057,321 |
|
| New York State Liberty Development Corp. Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| 3 World Trade Center Project, Class 1, Refunding |
|
|
5.000 |
% |
|
|
11/15/44 |
|
|
|
490,000 |
|
|
|
468,974 |
(e) |
| 7 World Trade Center Project, Class 2, Refunding |
|
|
3.250 |
% |
|
|
9/15/52 |
|
|
|
1,200,000 |
|
|
|
877,710 |
|
| New York State Thruway Authority General Revenue, Junior Indebtedness Obligations, Junior Lien, Series B |
|
|
4.000 |
% |
|
|
1/1/45 |
|
|
|
1,000,000 |
|
|
|
932,663 |
|
| New York State Transportation Development Corp., Special Facilities Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Delta Air Lines Inc., LaGuardia Airport Terminals C and D Redevelopment Project |
|
|
5.000 |
% |
|
|
1/1/30 |
|
|
|
500,000 |
|
|
|
514,728 |
(d) |
See Notes to
Schedule of Investments.
|
|
|
|
|
|
10 |
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| New York - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Delta Air Lines Inc., LaGuardia Airport |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Terminals C and D Redevelopment Project |
|
|
5.000 |
% |
|
|
1/1/32 |
|
|
$ |
650,000 |
|
|
$ |
669,927 |
(d) |
| Delta Air Lines Inc., LaGuardia Airport |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Terminals C and D Redevelopment Project |
|
|
4.375 |
% |
|
|
10/1/45 |
|
|
|
250,000 |
|
|
|
235,770 |
(d) |
| LaGuardia Airport Terminal B Redevelopment |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Project, Series A |
|
|
5.000 |
% |
|
|
7/1/41 |
|
|
|
300,000 |
|
|
|
300,055 |
(d) |
| LaGuardia Airport Terminal B Redevelopment Project, Series A |
|
|
5.000 |
% |
|
|
7/1/46 |
|
|
|
2,600,000 |
|
|
|
2,591,756 |
(d) |
| New York State Urban Development Corp. Revenue, State Personal Income Tax, Series C |
|
|
4.000 |
% |
|
|
3/15/45 |
|
|
|
750,000 |
|
|
|
719,562 |
|
| Port Authority of New York & New Jersey Revenue, Consolidated Series 221 |
|
|
4.000 |
% |
|
|
7/15/45 |
|
|
|
1,000,000 |
|
|
|
933,286 |
(d) |
| Triborough Bridge & Tunnel Authority, NY, Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| General-MTA Bridges & Tunnels, Series A |
|
|
5.000 |
% |
|
|
11/15/45 |
|
|
|
250,000 |
|
|
|
260,203 |
|
| General-MTA Bridges & Tunnels, Series A |
|
|
5.000 |
% |
|
|
11/15/49 |
|
|
|
2,050,000 |
|
|
|
2,147,324 |
|
| General-MTA Bridges & Tunnels, Series A |
|
|
5.000 |
% |
|
|
11/15/51 |
|
|
|
550,000 |
|
|
|
576,595 |
|
| General-MTA Bridges & Tunnels, Series A |
|
|
4.000 |
% |
|
|
11/15/56 |
|
|
|
750,000 |
|
|
|
690,449 |
|
| Senior Lien-MTA Bridges & Tunnels, Series C-1A |
|
|
5.000 |
% |
|
|
5/15/51 |
|
|
|
1,000,000 |
|
|
|
1,054,530 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total New York |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
29,943,081 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| North Carolina - 0.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Charlotte, NC, Lease Revenue, COP, Convention |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Facility Project, Series A, Refunding |
|
|
4.000 |
% |
|
|
6/1/49 |
|
|
|
250,000 |
|
|
|
239,628 |
|
| North Carolina State Turnpike Authority, Monroe |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Expressway Toll Revenue, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/47 |
|
|
|
750,000 |
|
|
|
755,691 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total North Carolina |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
995,319 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| North Dakota - 0.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Grand Forks, ND, Health Care System Revenue, Altru Health System, Refunding, AGM |
|
|
3.000 |
% |
|
|
12/1/46 |
|
|
|
850,000 |
|
|
|
608,279 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Ohio - 1.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Buckeye, OH, Tobacco Settlement Financing Authority Revenue, Senior Bonds, Series
B-2, Refunding |
|
|
5.000 |
% |
|
|
6/1/55 |
|
|
|
1,125,000 |
|
|
|
1,029,910 |
|
| Ohio State Air Quality Development Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| American Electric Co. Project, Series B, Refunding |
|
|
2.500 |
% |
|
|
10/1/29 |
|
|
|
450,000 |
|
|
|
387,589 |
(a)(b)(d) |
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
11 |
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Ohio - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| AMG Vanadium Project, Series 2019 |
|
|
5.000 |
% |
|
|
7/1/49 |
|
|
$ |
280,000 |
|
|
$ |
252,600 |
(d) |
| Duke Energy Corp. Project, Series B, Refunding |
|
|
4.250 |
% |
|
|
6/1/27 |
|
|
|
300,000 |
|
|
|
298,336 |
(a)(b)(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Ohio |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,968,435 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Oregon - 1.9% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Multnomah County, OR, School District No 7, Reynolds, GO, Deferred Interest, Series B, School Board Guaranty |
|
|
0.000 |
% |
|
|
6/15/31 |
|
|
|
1,000,000 |
|
|
|
715,786 |
|
| Oregon State Business Development Commission Revenue, Intel Corp. Project, Series 232 |
|
|
3.800 |
% |
|
|
6/15/28 |
|
|
|
1,100,000 |
|
|
|
1,098,700 |
(a)(b) |
| Oregon State Facilities Authority Revenue, Legacy Health Project, Series A, Refunding |
|
|
5.000 |
% |
|
|
6/1/46 |
|
|
|
600,000 |
|
|
|
604,744 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Oregon |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,419,230 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pennsylvania - 9.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Allegheny County, PA, HDA Revenue, University Pittsburgh Medical Center, Series A, Refunding |
|
|
4.000 |
% |
|
|
7/15/39 |
|
|
|
500,000 |
|
|
|
473,513 |
|
| Bucks County, PA, Water and Sewer Authority, Sewer System Revenue, Series A, AGM |
|
|
4.250 |
% |
|
|
12/1/47 |
|
|
|
250,000 |
|
|
|
242,872 |
|
| Commonwealth Financing Authority, PA, Tobacco Master Settlement Payment Revenue Bonds, Series 2018 |
|
|
5.000 |
% |
|
|
6/1/33 |
|
|
|
250,000 |
|
|
|
265,032 |
|
| Cumberland County, PA, Municipal Authority Revenue, Diakon Lutheran Social Ministries, Refunding |
|
|
5.000 |
% |
|
|
1/1/29 |
|
|
|
335,000 |
|
|
|
336,678 |
|
| East Hempfield Township, PA, IDA Revenue, Student Services Inc. Student Housing Project - Millersville
University |
|
|
5.000 |
% |
|
|
7/1/47 |
|
|
|
250,000 |
|
|
|
257,216 |
(f) |
| Lancaster County, PA, Convention Center Authority Revenue, Hotel Room Rental Tax, Series B, Refunding, County
GTD |
|
|
4.750 |
% |
|
|
5/1/53 |
|
|
|
1,000,000 |
|
|
|
975,671 |
|
| Lancaster County, PA, Hospital Authority Revenue, Penn State Health, Series 2021 |
|
|
5.000 |
% |
|
|
11/1/46 |
|
|
|
750,000 |
|
|
|
768,421 |
|
| Pennsylvania State Economic Development Financing Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Solid Waste Disposal, Waste Management Inc. Project |
|
|
2.150 |
% |
|
|
7/1/24 |
|
|
|
350,000 |
|
|
|
344,279 |
(a)(b)(d) |
| Tax-Exempt Private Activity, The Penndot Major Bridges Package One
Project |
|
|
5.250 |
% |
|
|
6/30/53 |
|
|
|
2,100,000 |
|
|
|
2,134,843 |
(d) |
See Notes to
Schedule of Investments.
|
|
|
|
|
|
12 |
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Pennsylvania - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Pennsylvania State Turnpike Commission Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A-2, Refunding |
|
|
5.000 |
% |
|
|
12/1/48 |
|
|
$ |
1,000,000 |
|
|
$ |
1,034,160 |
|
| Series B |
|
|
5.000 |
% |
|
|
12/1/45 |
|
|
|
500,000 |
|
|
|
521,147 |
|
| Series B, Refunding |
|
|
5.250 |
% |
|
|
12/1/47 |
|
|
|
300,000 |
|
|
|
324,781 |
|
| Philadelphia, PA, Airport Revenue, Series A, Refunding |
|
|
5.000 |
% |
|
|
6/15/35 |
|
|
|
2,000,000 |
|
|
|
2,013,832 |
(d) |
| Philadelphia, PA, Authority for IDR: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Charter School Revenue, A String Theory Charter School Project |
|
|
5.000 |
% |
|
|
6/15/40 |
|
|
|
500,000 |
|
|
|
494,369 |
|
| City Service Agreement Revenue, Rebuild Project |
|
|
5.000 |
% |
|
|
5/1/35 |
|
|
|
250,000 |
|
|
|
264,737 |
|
| City Service Agreement Revenue, Rebuild Project |
|
|
5.000 |
% |
|
|
5/1/38 |
|
|
|
500,000 |
|
|
|
520,394 |
|
| Philadelphia, PA, GO, Series B |
|
|
5.000 |
% |
|
|
2/1/38 |
|
|
|
250,000 |
|
|
|
263,166 |
|
| State Public School Building Authority, PA, Lease Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Philadelphia SD Project, Series A, Refunding, AGM, State Aid Withholding |
|
|
5.000 |
% |
|
|
6/1/31 |
|
|
|
200,000 |
|
|
|
207,622 |
|
| Philadelphia SD Project, Series A, Refunding, AGM, State Aid Withholding |
|
|
5.000 |
% |
|
|
6/1/33 |
|
|
|
500,000 |
|
|
|
519,210 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Pennsylvania |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
11,961,943 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Puerto Rico - 6.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Puerto Rico Commonwealth Aqueduct & Sewer Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Senior Lien, Series A, Refunding |
|
|
5.000 |
% |
|
|
7/1/47 |
|
|
|
1,000,000 |
|
|
|
960,909 |
(e) |
| Series B, Refunding |
|
|
5.000 |
% |
|
|
7/1/33 |
|
|
|
500,000 |
|
|
|
505,774 |
(e) |
| Puerto Rico Commonwealth Highway & Transportation Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CAB, Restructured, Series B |
|
|
0.000 |
% |
|
|
7/1/32 |
|
|
|
100,000 |
|
|
|
64,375 |
|
| Restructured, Series A |
|
|
5.000 |
% |
|
|
7/1/62 |
|
|
|
105,000 |
|
|
|
103,556 |
|
| Puerto Rico Commonwealth, GO: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CAB, Restructured, Series A-1 |
|
|
0.000 |
% |
|
|
7/1/24 |
|
|
|
2,287 |
|
|
|
2,204 |
|
| CAB, Restructured, Series A-1 |
|
|
0.000 |
% |
|
|
7/1/33 |
|
|
|
18,141 |
|
|
|
11,053 |
|
| Restructured, Series A-1 |
|
|
5.375 |
% |
|
|
7/1/25 |
|
|
|
15,700 |
|
|
|
15,999 |
|
| Restructured, Series A-1 |
|
|
5.625 |
% |
|
|
7/1/27 |
|
|
|
15,558 |
|
|
|
16,226 |
|
| Restructured, Series A-1 |
|
|
5.625 |
% |
|
|
7/1/29 |
|
|
|
15,305 |
|
|
|
16,193 |
|
| Restructured, Series A-1 |
|
|
5.750 |
% |
|
|
7/1/31 |
|
|
|
14,866 |
|
|
|
16,079 |
|
| Restructured, Series A-1 |
|
|
4.000 |
% |
|
|
7/1/33 |
|
|
|
14,097 |
|
|
|
13,200 |
|
| Restructured, Series A-1 |
|
|
4.000 |
% |
|
|
7/1/35 |
|
|
|
217,671 |
|
|
|
200,052 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
13 |
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Puerto Rico - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Restructured, Series A-1 |
|
|
4.000 |
% |
|
|
7/1/37 |
|
|
$ |
940,000 |
|
|
$ |
845,722 |
|
| Restructured, Series A-1 |
|
|
4.000 |
% |
|
|
7/1/41 |
|
|
|
139,786 |
|
|
|
120,881 |
|
| Restructured, Series A-1 |
|
|
4.000 |
% |
|
|
7/1/46 |
|
|
|
15,377 |
|
|
|
12,801 |
|
| Subseries CW |
|
|
0.000 |
% |
|
|
11/1/43 |
|
|
|
66,573 |
|
|
|
34,368 |
(b) |
| Puerto Rico Electric Power Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A |
|
|
5.000 |
% |
|
|
7/1/42 |
|
|
|
670,000 |
|
|
|
184,250 |
*(g) |
| Series A |
|
|
5.050 |
% |
|
|
7/1/42 |
|
|
|
100,000 |
|
|
|
27,500 |
*(g) |
| Series XX |
|
|
5.250 |
% |
|
|
7/1/40 |
|
|
|
1,075,000 |
|
|
|
295,625 |
*(g) |
| Series ZZ, Refunding |
|
|
— |
|
|
|
7/1/18 |
|
|
|
300,000 |
|
|
|
81,750 |
*(h) |
| Puerto Rico Sales Tax Financing Corp., Sales Tax Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| CAB, Restructured, Series A-1 |
|
|
0.000 |
% |
|
|
7/1/27 |
|
|
|
280,000 |
|
|
|
239,676 |
|
| CAB, Restructured, Series A-1 |
|
|
0.000 |
% |
|
|
7/1/46 |
|
|
|
1,800,000 |
|
|
|
501,351 |
|
| Restructured, Series A-1 |
|
|
4.550 |
% |
|
|
7/1/40 |
|
|
|
70,000 |
|
|
|
68,252 |
|
| Restructured, Series A-1 |
|
|
4.750 |
% |
|
|
7/1/53 |
|
|
|
830,000 |
|
|
|
778,108 |
|
| Restructured, Series A-1 |
|
|
5.000 |
% |
|
|
7/1/58 |
|
|
|
270,000 |
|
|
|
262,010 |
|
| Restructured, Series A-2 |
|
|
4.329 |
% |
|
|
7/1/40 |
|
|
|
1,910,000 |
|
|
|
1,813,747 |
|
| Restructured, Series A-2A |
|
|
4.550 |
% |
|
|
7/1/40 |
|
|
|
1,050,000 |
|
|
|
1,023,776 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Puerto Rico |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
8,215,437 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| South Carolina - 0.8% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| South Carolina State Jobs-EDA Hospital Facilities Revenue, Bon Secours Mercy
Health Inc., Series A, Refunding |
|
|
4.000 |
% |
|
|
12/1/44 |
|
|
|
550,000 |
|
|
|
511,106 |
|
| South Carolina State Ports Authority Revenue, Series 2018 |
|
|
5.000 |
% |
|
|
7/1/36 |
|
|
|
500,000 |
|
|
|
518,485 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total South Carolina |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,029,591 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| South Dakota - 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| South Dakota State HEFA Revenue, Regional Health |
|
|
5.000 |
% |
|
|
9/1/40 |
|
|
|
200,000 |
|
|
|
202,465 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Tennessee - 2.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Clarksville, TN, Water, Sewer & Gas Revenue, Series A |
|
|
4.000 |
% |
|
|
2/1/51 |
|
|
|
750,000 |
|
|
|
712,159 |
|
| Knox County, TN, Health, Educational & Housing Facility Board Revenue, University Health System Inc., Series
A |
|
|
5.000 |
% |
|
|
9/1/40 |
|
|
|
350,000 |
|
|
|
342,256 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
14 |
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Tennessee - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Metropolitan Government of Nashville & Davidson County, TN, Sports Authority Revenue, Series A, AGM |
|
|
5.250 |
% |
|
|
7/1/53 |
|
|
$ |
500,000 |
|
|
$ |
536,624 |
|
| Tennessee State Energy Acquisition Corp., Natural Gas Revenue, Series 2018 |
|
|
4.000 |
% |
|
|
11/1/25 |
|
|
|
1,500,000 |
|
|
|
1,482,964 |
(a)(b) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Tennessee |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,074,003 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Texas - 10.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arlington, TX, Higher Education Finance Corp., Education Revenue, Uplift Education, Series A, Refunding, PSF -
GTD |
|
|
5.000 |
% |
|
|
12/1/47 |
|
|
|
250,000 |
|
|
|
254,905 |
|
| Arlington, TX, Special Tax Revenue, Senior Lien, Series A, AGM |
|
|
5.000 |
% |
|
|
2/15/48 |
|
|
|
350,000 |
|
|
|
359,413 |
|
| Austin, TX, Airport System Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2022 |
|
|
5.000 |
% |
|
|
11/15/52 |
|
|
|
500,000 |
|
|
|
511,901 |
(d) |
| Series B |
|
|
5.000 |
% |
|
|
11/15/39 |
|
|
|
750,000 |
|
|
|
774,532 |
(d) |
| Central Texas Regional Mobility Authority Revenue, Senior Lien, Series B |
|
|
4.000 |
% |
|
|
1/1/51 |
|
|
|
1,020,000 |
|
|
|
915,717 |
|
| Corpus Christi, TX, Utility System Revenue, |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Junior Lien, Series A |
|
|
5.000 |
% |
|
|
7/15/31 |
|
|
|
2,905,000 |
|
|
|
2,986,926 |
|
| Grand Parkway Transportation Corp., TX, System Toll Revenue, Convertible CAB, Step bond, Series A, B and C (0.000% to
10/1/23 then 5.500%) |
|
|
0.000 |
% |
|
|
10/1/36 |
|
|
|
2,000,000 |
|
|
|
2,152,379 |
|
| Harris County, TX, Cultural Education Facilities Finance Corp., Hospital Revenue, Texas Children’s Hospital,
Series B, Refunding |
|
|
5.000 |
% |
|
|
10/1/31 |
|
|
|
400,000 |
|
|
|
448,013 |
(a)(b) |
| Hays, TX, ISD, GO, Unlimited Tax School Building Bonds, PSF - GTD |
|
|
4.000 |
% |
|
|
2/15/47 |
|
|
|
400,000 |
|
|
|
378,390 |
|
| Houston, TX, Airport System Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series B-1 |
|
|
5.000 |
% |
|
|
7/15/30 |
|
|
|
1,000,000 |
|
|
|
1,005,419 |
(d) |
| Special Facilities, United Airlines Inc., Terminal Improvement Project, Series
B-1 |
|
|
4.000 |
% |
|
|
7/15/41 |
|
|
|
600,000 |
|
|
|
530,888 |
(d) |
| Subordinated Lien, Series A, Refunding |
|
|
4.000 |
% |
|
|
7/1/41 |
|
|
|
750,000 |
|
|
|
702,733 |
(d) |
| Love Field, TX, Airport Modernization Corp., General Airport Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2017 |
|
|
5.000 |
% |
|
|
11/1/33 |
|
|
|
40,000 |
|
|
|
41,309 |
(d) |
| Series 2017 |
|
|
5.000 |
% |
|
|
11/1/36 |
|
|
|
40,000 |
|
|
|
40,897 |
(d) |
| Newark, TX, Higher Education Finance Corp., Education Revenue, TLC Academy, Series A |
|
|
4.000 |
% |
|
|
8/15/51 |
|
|
|
300,000 |
|
|
|
220,774 |
|
| North Texas Tollway Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/39 |
|
|
|
250,000 |
|
|
|
254,939 |
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
15 |
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Texas - (continued) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series B, Refunding |
|
|
5.000 |
% |
|
|
1/1/45 |
|
|
$ |
600,000 |
|
|
$ |
602,391 |
|
| Tarrant County, TX, Cultural Education Facilities Finance Corp., Hospital Revenue, Methodist Hospitals of
Dallas |
|
|
4.000 |
% |
|
|
10/1/42 |
|
|
|
750,000 |
|
|
|
693,685 |
|
| Texas State Private Activity Bond Surface Transportation Corp. Revenue, Senior Lien, Blueridge Transportation Group
LLC |
|
|
5.000 |
% |
|
|
12/31/40 |
|
|
|
460,000 |
|
|
|
460,790 |
(d) |
| Woodloch, TX, Health Facilities Development Corp., Senior Housing Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Inspired Living at Lewisville Project, Series A-1 |
|
|
6.750 |
% |
|
|
12/1/51 |
|
|
|
150,000 |
|
|
|
90,000 |
*(e)(g) |
| Subordinated, Inspired Living at Lewisville Project, Series B |
|
|
10.000 |
% |
|
|
12/1/51 |
|
|
|
50,000 |
|
|
|
2,500 |
*(g) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Texas |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
13,428,501 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Utah - 0.4% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Utah State Charter School Finance Authority, Charter School Revenue, Syracuse Arts Academy Project, UT CSCE |
|
|
5.000 |
% |
|
|
4/15/42 |
|
|
|
250,000 |
|
|
|
251,506 |
|
| Utah State Infrastructure Agency, Telecommunications Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2019 |
|
|
4.000 |
% |
|
|
10/15/39 |
|
|
|
250,000 |
|
|
|
210,967 |
|
| Series 2021 |
|
|
4.000 |
% |
|
|
10/15/36 |
|
|
|
100,000 |
|
|
|
88,903 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Utah |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
551,376 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Virginia - 2.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Arlington County, VA, IDA, Hospital Revenue, Virginia Hospital Center, Refunding |
|
|
5.000 |
% |
|
|
7/1/35 |
|
|
|
250,000 |
|
|
|
270,380 |
|
| Virginia State Port Authority, Port Facilities Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series B, Refunding |
|
|
5.000 |
% |
|
|
7/1/41 |
|
|
|
300,000 |
|
|
|
303,123 |
(d) |
| Series B, Refunding |
|
|
5.000 |
% |
|
|
7/1/45 |
|
|
|
500,000 |
|
|
|
503,623 |
(d) |
| Virginia State Small Business Financing Authority Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| National Senior Campuses, Inc., Series A, Refunding |
|
|
5.000 |
% |
|
|
1/1/34 |
|
|
|
250,000 |
|
|
|
262,900 |
|
| Senior Lien, 95 Express Lanes LLC Project, Refunding |
|
|
5.000 |
% |
|
|
1/1/38 |
|
|
|
1,250,000 |
|
|
|
1,283,732 |
(d) |
| Senior Lien, I-495 HOT Lanes Project, Refunding |
|
|
5.000 |
% |
|
|
12/31/47 |
|
|
|
350,000 |
|
|
|
352,904 |
(d) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Virginia |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,976,662 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
16 |
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| Washington - 1.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Port of Seattle, WA, Intermediate Lien Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Series 2019 |
|
|
4.000 |
% |
|
|
4/1/44 |
|
|
$ |
250,000 |
|
|
$ |
228,189 |
(d) |
| Series 2019 |
|
|
5.000 |
% |
|
|
4/1/44 |
|
|
|
500,000 |
|
|
|
511,508 |
(d) |
| Series 2022, Refunding |
|
|
5.000 |
% |
|
|
8/1/41 |
|
|
|
750,000 |
|
|
|
780,398 |
(d) |
| Washington State Health Care Facilities Authority Revenue, Seattle Cancer Care Alliance |
|
|
4.000 |
% |
|
|
12/1/40 |
|
|
|
500,000 |
|
|
|
466,913 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Washington |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,987,008 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Wisconsin - 4.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mount Pleasant, WI, Tax Increment Revenue, Series A |
|
|
5.000 |
% |
|
|
4/1/48 |
|
|
|
500,000 |
|
|
|
505,261 |
|
| Public Finance Authority, WI, Airport Facilities Revenue, Transportation Infrastructure Properties LLC, Series B,
Refunding |
|
|
5.000 |
% |
|
|
7/1/42 |
|
|
|
4,000,000 |
|
|
|
3,899,756 |
(d) |
| Public Finance Authority, WI, Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Carmelite System Inc., Obligated Group, Series 2020, Refunding |
|
|
5.000 |
% |
|
|
1/1/40 |
|
|
|
200,000 |
|
|
|
192,850 |
|
| Cone Health, Series A |
|
|
5.000 |
% |
|
|
10/1/52 |
|
|
|
500,000 |
|
|
|
509,526 |
|
| Public Finance Authority, WI, Student Housing Revenue, University of Hawai’i Foundation Project, Green Bonds,
Series A-1 |
|
|
4.000 |
% |
|
|
7/1/51 |
|
|
|
410,000 |
|
|
|
315,649 |
(e) |
| Wisconsin State HEFA Revenue, Bellin Memorial Hospital Inc., Series A |
|
|
5.500 |
% |
|
|
12/1/52 |
|
|
|
350,000 |
|
|
|
370,471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Wisconsin |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
5,793,513 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL MUNICIPAL BONDS
(Cost - $204,920,644) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
201,131,663 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUSTS(i) - 3.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New York - 3.5% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue, Second General Resolution
Fiscal 2023, Subseries AA-1 |
|
|
5.250 |
% |
|
|
6/15/52 |
|
|
|
2,020,000 |
|
|
|
2,182,846 |
|
| New York State Dormitory Authority, State Personal Income Tax Revenue, General Purpose Bonds, Series A |
|
|
4.000 |
% |
|
|
3/15/45 |
|
|
|
2,475,000 |
|
|
|
2,367,625 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL MUNICIPAL BONDS DEPOSITED IN TENDER OPTION BOND TRUSTS
(Cost - $4,638,870) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
4,550,471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS
(Cost - $209,559,514) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
205,682,134 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
17 |
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
(Percentages
shown based on Fund net assets)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| SECURITY |
|
RATE |
|
|
MATURITY
DATE |
|
|
FACE
AMOUNT |
|
|
VALUE |
|
| SHORT-TERM INVESTMENTS - 0.3% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| MUNICIPAL BONDS - 0.2% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mississippi - 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Mississippi State Business Finance Corp., Gulf Opportunity Zone, IDR, Chevron USA Inc. Project, Series I |
|
|
3.800 |
% |
|
|
11/1/35 |
|
|
$ |
100,000 |
|
|
$ |
100,000 |
(j)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New York - 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| New York City, NY, Municipal Water Finance Authority, Water & Sewer System Revenue, Second General Resolution
Fiscal 2014, Series AA-1, Refunding, SPA - JPMorgan Chase & Co. |
|
|
4.000 |
% |
|
|
6/15/50 |
|
|
|
200,000 |
|
|
|
200,000 |
(j)(k) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL MUNICIPAL BONDS
(Cost - $300,000) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
300,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
SHARES |
|
|
|
|
| MONEY MARKET FUNDS - 0.1% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Western Asset Premier Institutional Government Reserves, Premium Shares
(Cost - $83,161) |
|
|
5.261 |
% |
|
|
|
|
|
|
83,161 |
|
|
|
83,161 |
(l)(m) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL SHORT-TERM INVESTMENTS
(Cost - $383,161) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
383,161 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL INVESTMENTS - 158.7%
(Cost - $209,942,675) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
206,065,295 |
|
| Auction Rate Cumulative Preferred Stock, at Liquidation Value - (7.1)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9,200,000 |
) |
| Variable Rate Demand Preferred Stock, at Liquidation Value - (51.2)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(66,500,000 |
) |
| TOB Floating Rate Notes - (2.0)% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,580,000 |
) |
| Other Assets in Excess of Other Liabilities - 1.6% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,031,800 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| TOTAL NET ASSETS APPLICABLE TO COMMON SHAREHOLDERS - 100.0% |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
129,817,095 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
See Notes to
Schedule of Investments.
|
|
|
|
|
|
18 |
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
|
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
| * |
Non-income producing security. |
| (a) |
Maturity date shown represents the mandatory tender date. |
| (b) |
Variable rate security. Interest rate disclosed is as of the most recent information available. Certain
variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description
above. |
| (c) |
Securities traded on a when-issued or delayed delivery basis. |
| (d) |
Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax
(“AMT”). |
| (e) |
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. |
| (f) |
Pre-Refunded bonds are generally escrowed with U.S. government
obligations and/or U.S. government agency securities. |
| (g) |
The coupon payment on this security is currently in default as of August 31, 2023. |
| (h) |
The maturity principal is currently in default as of August 31, 2023. |
| (i) |
Represents securities deposited into a special purpose entity, referred to as a Tender Option Bond
(“TOB”) trust. |
| (j) |
Variable rate demand obligations (“VRDOs”) have a demand feature under which the Fund can tender them
back to the issuer or liquidity provider on no more than 7 days notice. The interest rate generally resets on a daily or weekly basis and is determined on the specific interest rate reset date by the remarketing agent, pursuant to a formula
specified in official documents for the VRDO, or set at the highest rate allowable as specified in official documents for the VRDO. VRDOs are benchmarked to the Securities Industry and Financial Markets Association (“SIFMA”) Municipal Swap
Index. The SIFMA Municipal Swap Index is compiled from weekly interest rate resets of tax-exempt VRDOs reported to the Municipal Securities Rulemaking Board’s Short-term Obligation Rate Transparency
System. |
| (k) |
Maturity date shown is the final maturity date. The security may be sold back to the issuer before final
maturity. |
| (l) |
Rate shown is one-day yield as of the end of the reporting period.
|
| (m) |
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 August 31, 2023, the total market value of investments in Affiliated Companies
was $83,161 and the cost was $83,161 (Note 2). |
See Notes to
Schedule of Investments.
|
|
|
|
|
|
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
19 |
WESTERN ASSET MUNICIPAL PARTNERS FUND INC.
|
|
|
| Schedule of investments (unaudited) (cont’d) |
|
August 31, 2023 |
|
|
|
| Abbreviation(s) used in this schedule: |
|
|
| AGM |
|
— Assured Guaranty Municipal Corporation - Insured Bonds |
| BAM |
|
— Build America Mutual - Insured Bonds |
| CAB |
|
— Capital Appreciation Bonds |
| COP |
|
— Certificates of Participation |
| CSCE |
|
— Charter School Credit Enhancement |
| DFA |
|
— Development Finance Agency |
| EDA |
|
— Economic Development Authority |
| EDC |
|
— Economic Development Corporation |
| EFA |
|
— Educational Facilities Authority |
| GO |
|
— General Obligation |
| GTD |
|
— Guaranteed |
| HDA |
|
— Housing Development Authority |
| HEFA |
|
— Health & Educational Facilities Authority |
| IDA |
|
— Industrial Development Authority |
| IDR |
|
— Industrial Development Revenue |
| ISD |
|
— Independent School District |
| MFA |
|
— Municipal Finance Authority |
| MTA |
|
— Metropolitan Transportation Authority |
| MWRA |
|
— Massachusetts Water Resources Authority |
| NATL |
|
— National Public Finance Guarantee Corporation - Insured Bonds |
| PCFA |
|
— Pollution Control Financing Authority |
| PEA |
|
— Public Energy Authority |
| PSF |
|
— Permanent School Fund |
| SD |
|
— School District |
| SIFMA |
|
— Securities Industry and Financial Markets Association |
| SPA |
|
— Standby Bond Purchase Agreement - Insured Bonds |
| TFA |
|
— Transitional Finance Authority |
| USD |
|
— Unified School District |
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.
|
|
|
|
|
|
20 |
|
Western Asset Municipal Partners Fund Inc. 2023 Quarterly Report |
|
|
Notes to Schedule of Investments (unaudited)
1. Organization and significant accounting policies
Western Asset Municipal Partners Fund Inc. (the “Fund”) was incorporated in Maryland on November 24, 1992 and is registered as a diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Board of Directors authorized 100 million shares of $0.001 par value common stock.
The Fund’s primary investment objective is to seek a high level of current income which is exempt from regular federal income taxes, consistent with the preservation of capital. As a secondary investment objective, the Fund intends to enhance
portfolio value by purchasing tax-exempt securities that, in the opinion of the investment manager, may appreciate in value relative to other similar obligations in the marketplace.
Under normal market conditions, the Fund pursues its objectives by investing substantially all of its assets in a diversified portfolio of tax-exempt securities. As a matter of fundamental policy which cannot be changed without shareholder approval, under normal market conditions at least 80% of the Fund’s net assets will be invested in tax-exempt securities. The Fund invests primarily in tax-exempt securities that are rated “investment grade” at the time of purchase by at least one rating agency
and that the subadviser believes do not involve undue risk to income or principal or, if unrated, determined to be of comparable credit quality by the subadviser, but the Fund may invest up to 20% of its net assets in securities rated below
“investment grade” (commonly known as “high yield” or “junk” bonds) at the time of purchase. For credit ratings purposes, pre-refunded bonds are deemed to be unrated. The
subadviser determines the credit quality of pre-refunded bonds based on the quality of the escrowed collateral and such other factors as the subadviser deems appropriate.
The Fund follows the accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946,
Financial Services – Investment Companies (“ASC 946”). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles
(“GAAP”), including, but not limited to, ASC 946.
(a) Investment valuation. The valuations for fixed income securities (which may
include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party
pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest
rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each
fund on the day of valuation. 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
Notes to Schedule of Investments (unaudited) (cont’d)
broker/dealers or at the transaction price if the security has recently been purchased
and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on
which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.
Pursuant to policies adopted by the Board of Directors, the Fund’s manager has been designated as the valuation designee and is responsible for the
oversight of the daily valuation process. The Fund’s manager is assisted by the Global Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee is responsible for making fair value determinations, evaluating the
effectiveness of the Fund’s pricing policies, and reporting to the Fund’s manager and the Board of Directors. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee,
among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.
The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible
methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or
fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the
issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions;
information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable
companies; and the existence of a shelf registration for restricted securities.
For each portfolio security that has been fair valued pursuant to the
policies adopted by the Board of Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are
reported to the Board of Directors quarterly.
The Fund uses valuation techniques to measure fair value that are consistent with the market approach
and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income
approach uses valuation techniques to discount estimated future cash flows to present value.
Notes to Schedule of Investments (unaudited) (cont’d)
GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation
techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:
| |
• |
|
Level 1 – unadjusted quoted prices in active markets for identical investments |
| |
• |
|
Level 2 – other significant observable inputs (including quoted prices for similar investments,
interest rates, prepayment speeds, credit risk, etc.) |
| |
• |
|
Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the
fair value of investments) |
The inputs or methodologies used to value securities are not necessarily an indication of the risk
associated with investing in those securities.
The following is a summary of the inputs used in valuing the Fund’s assets 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†: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
|
— |
|
|
$ |
201,131,663 |
|
|
|
— |
|
|
$ |
201,131,663 |
|
| Municipal Bonds Deposited in Tender Option Bond Trusts |
|
|
— |
|
|
|
4,550,471 |
|
|
|
— |
|
|
|
4,550,471 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Long-Term Investments |
|
|
— |
|
|
|
205,682,134 |
|
|
|
— |
|
|
|
205,682,134 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Short-Term Investments†: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Municipal Bonds |
|
|
— |
|
|
|
300,000 |
|
|
|
— |
|
|
|
300,000 |
|
| Money Market Funds |
|
$ |
83,161 |
|
|
|
— |
|
|
|
— |
|
|
|
83,161 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Short-Term Investments |
|
|
83,161 |
|
|
|
300,000 |
|
|
|
— |
|
|
|
383,161 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total Investments |
|
$ |
83,161 |
|
|
$ |
205,982,134 |
|
|
|
— |
|
|
$ |
206,065,295 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| † |
See Schedule of Investments for additional detailed categorizations. |
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
Notes to Schedule of Investments (unaudited) (cont’d)
all or some portion of the period ended August 31, 2023. The following transactions
were effected in such company for the period ended August 31, 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Affiliate
Value at
November 30,
2022 |
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
Purchased |
|
|
Sold |
|
| |
|
Cost |
|
|
Shares |
|
|
Proceeds |
|
|
Shares |
|
| Western Asset Premier Institutional Government Reserves, Premium Shares |
|
$ |
17,104 |
|
|
$ |
1,861,543 |
|
|
|
1,861,543 |
|
|
$ |
1,795,486 |
|
|
|
1,795,486 |
|
|
|
|
|
|
| (cont’d) |
|
Realized
Gain (Loss) |
|
|
Dividend
Income |
|
|
Net Increase
(Decrease) in
Unrealized
Appreciation
(Depreciation) |
|
|
Affiliate
Value at
August 31,
2023 |
|
| Western Asset Premier Institutional Government Reserves, Premium Shares |
|
|
— |
|
|
$ |
1,446 |
|
|
|
— |
|
|
$ |
83,161 |
|
Western Asset Municipal ... (NYSE:MNP)
과거 데이터 주식 차트
부터 10월(10) 2024 으로 11월(11) 2024
Western Asset Municipal ... (NYSE:MNP)
과거 데이터 주식 차트
부터 11월(11) 2023 으로 11월(11) 2024
