# Portfolio overlap — WAASX vs QLMYIX Comparing **Western Asset Total Return Unconstrained Fund** (2026-02-27) and **Western Asset Variable Global High Yield Bond Portfolio** (2026-03-31). - Shared positions: 59 - Western Asset Total Return Unconstrained Fund covered by Western Asset Variable Global High Yield Bond Portfolio: 0.06421693302765385929235197129 - Western Asset Variable Global High Yield Bond Portfolio covered by Western Asset Total Return Unconstrained Fund: 0.06421693302765385929235197129 ## Western Asset Total Return Unconstrained Fund — top positions | Security | Weight | Shared | |----------|--------|--------| | US TREASURY N/B | 0.148826 | | | US TREASURY N/B | 0.058869 | | | US TREASURY N/B | 0.044195 | | | US TREASURY N/B | 0.041376 | | | US TREASURY N/B | 0.040263 | | | India Government Bond | 0.025083 | | | GNMA II TBA 30 YR 3 JUMBOS | 0.023228 | | | Presidencia da Republica | 0.021848 | | | NETFLIX INC | 0.015335 | | | Presidencia da Republica | 0.015027 | | | Teva Pharmaceutical Finance Netherlands II BV | 0.014470 | | | US TREASURY N/B | 0.012684 | | | SANDS CHINA LTD | 0.010901 | | | US TREASURY N/B | 0.009186 | | | SANDS CHINA LTD | 0.008881 | | | Alternative Loan Trust 2005-28CB | 0.007997 | | | Government National Mortgage Association, TBA | 0.007981 | | | OHA Credit Funding 18 Ltd | 0.007692 | ✓ | | U.S. Treasury Inflation-Protected Indexed Notes | 0.007684 | | | FN MA4643 | 0.007616 | | | Fannie Mae Connecticut Avenue Securities | 0.007388 | | | HUMANA INC SR UNSECURED 06/38 8.15 | 0.007335 | | | Fannie Mae Connecticut Avenue Securities, Series 2023-R06, Class 1M2 | 0.006875 | | | US TREASURY N/B | 0.006686 | | | US TREASURY N/B | 0.006504 | | | CWHEQ Revolving Home Equity Loan Trust Series 2007-A | 0.006361 | | | MF1, Series 2024-FL16, Class A | 0.006353 | | | SWCH COMMERCIAL MORTGAGE TRUST SWCH 2025 DATA A 144A | 0.006284 | | | OCEAN TRAILS CLO X OCTR 2020-10A ER | 0.006179 | ✓ | | CD 2017-CD5 A4 | 0.006074 | | | BANK 2018-BNK15 BANK 2018 BN15 B | 0.006012 | | | BX Commercial Mortgage Trust 2021-XL2 | 0.005985 | | | HAYFIN US XV LTD HAYFN 2024-15A D1 | 0.005845 | | | BX Commercial Mortgage Trust, Series 2019-IMC, Class F | 0.005840 | | | KAZMUNAYGAS NATIONAL CO JSC 3.5% 04/14/2033 144A | 0.005832 | | | Galaxy XXV CLO Ltd | 0.005803 | | | SANDS CHINA LTD | 0.005716 | ✓ | | DISH DBS CORP SR SECURED 144A 12/28 5.75 | 0.005618 | ✓ | | DC Commercial Mortgage Trust, Series 2023-DC, Class A | 0.005594 | | | Freddie Mac Pool | 0.005553 | | | TESLA SUSTAINABLE ENERGY TRUST TSET 2024 1A A3 144A | 0.005322 | | | BVCLN 2025-EDU1 C | 0.005306 | | | UBS Commercial Mortgage Trust, Series 2017-C7, Class A3 | 0.005279 | | | CSC HOLDINGS LLC REGD 144A P/P 4.50000000 | 0.005218 | ✓ | | PRXNA 3.061 07/13/31 | 0.005178 | | | Lloyds Banking Group PLC | 0.005173 | | | Extended Stay America Trust Series 22-ESH Class D | 0.005114 | | | BLACK DIAMOND CLO 202 FRN | 0.005094 | ✓ | | MF1 LLC, Series 2025-FL19, Class A | 0.004904 | | | NSLT 2021-A APT2 | 0.004863 | | ## Western Asset Variable Global High Yield Bond Portfolio — top positions | Security | Weight | Shared | |----------|--------|--------| | ISPIM V4.198 06/01/32 | 0.012310 | | | First Quantum Minerals Ltd | 0.010738 | | | Michaels Cos Inc/The | 0.010321 | | | BBVA Mexico SA Institucion De Banca Multiple Grupo Financiero BBVA Mexico/TX 5.13 01/18/2033 | 0.010260 | | | CHARTER COMM OPT | 0.009859 | | | PM GENERAL PURCHASER LLC SR SECURED 144A 10/28 9.5 | 0.009758 | ✓ | | Petroleos Mexicanos | 0.009718 | | | ALTICE FING SA 5.75% 08/15/2029 144A | 0.009224 | | | MERCADOLIBRE INC SR UNSEC 3.125% 01-14-31 | 0.008976 | | | EchoStar Corp | 0.008496 | | | Turkiye Government International Bonds | 0.008409 | | | Venture Global LNG, Inc. | 0.008374 | | | PETROLEOS MEXICANOS REGD 6.62500000 | 0.007905 | | | TK Elevator Midco GmbH | 0.007678 | | | TEVA PHARMACEUTICALS NE REGD SER . 8.12500000 | 0.007069 | | | Marston's Issuer PLC | 0.006852 | | | Carnival PLC | 0.006841 | | | SV RNO Property Owner 1 LLC | 0.006699 | ✓ | | DISH DBS CORP SR SECURED 144A 12/28 5.75 | 0.006554 | ✓ | | NRG Energy Inc | 0.006521 | ✓ | | Presidence de la Republique de Cote d'Ivoire | 0.006458 | | | B3 SA - BRASIL BOLSA BALCAO 144A 4.125000% 09/20/2031 | 0.006423 | | | THC 6 11/15/33 144A | 0.006396 | | | MARSPE 7.125 12/01/37 144A | 0.006378 | | | ARGENTINA | 0.006348 | ✓ | | Ecuador Government International Bonds | 0.006195 | | | VCI ASSET HOLDINGS 1 LLC FIXED TERM LOAN | 0.006013 | | | Valor | 0.005970 | | | GRNT 8.875 11/05/29 | 0.005888 | | | 1261229 BC Ltd | 0.005872 | | | TURKTI 7.375 05/20/29 144A | 0.005597 | | | AXL 7.75 10/15/33 144A | 0.005519 | | | CRGYFN 8 3/8 01/15/34 | 0.005383 | | | SUN V7.875 PERP 144A | 0.005350 | | | CYH 10.875 01/15/32 144A | 0.005316 | | | PROVINCIA DE BUENOS AIRES/GOVERNMENT BONDS MTN 6.625000% 09/01/2037 | 0.005287 | ✓ | | GRUPO NUTRESA SA COMPANY GUAR 144A 05/30 8 | 0.005247 | | | ARCLIN US HOLDING | 0.005083 | | | FULL HOUSE RESORTS INC SR SECURED 144A 02/28 8.25 | 0.005051 | | | Jane Street Group / JSG Finance Inc. | 0.005025 | ✓ | | ISATLN 9 09/15/29 144A | 0.005000 | | | Verisure Holding AB | 0.004984 | | | URI 5.375 11/15/33 144A | 0.004881 | | | BANORT 6 5/8 PERP | 0.004845 | | | Midcap Financial Issuer Trust | 0.004833 | | | LVLT 8.5 01/15/36 144A | 0.004761 | | | LLOYDS BANKING GROUP PLC JR SUBORDINA 12/99 VAR | 0.004720 | | | BOMBARDIER INC SR UNSECURED 144A 07/31 7.25 | 0.004714 | ✓ | | SATS 6.75 11/30/30 | 0.004708 | | | PETRPE 4.75 06/19/32 144A | 0.004652 | | ## Sources - N-PORT (fund A) — accession `0000940400-26-014694` (as of 2026-02-27) - N-PORT (fund B) — accession `0000940400-26-021639` (as of 2026-03-31) --- _Informational only — not investment advice. FundWatcher presents publicly available data and makes no recommendation to buy or sell any security. Verify all figures against the source filing before relying on them._ _Data sourced from U.S. SEC EDGAR filings (Forms N-PORT, N-CEN, and prospectus Risk/Return summaries). FundWatcher is not affiliated with the SEC._ _Use of this data is subject to the FundWatcher Terms of Service. Information may be used only for personal, non-commercial research and may not be redistributed. See _