Legg Mason BW Absolute Return Opportunities Fund

Fund Holdings

Asset Allocation

% Long % Short % Net
Cash 14.23 0.0 14.23
Stocks 0.0 0.0 0.0
Bonds 40.12 0.0 40.12
Other 3.64 0.0 3.64
Foreign Bonds 84.26 42.25 42.01
Foreign Stocks 0.0 0.0 0.0
Convertible 0.0 0.0 0.0
Preferred 0.0 0.0 0.0

Updated 03.31.2014

Top 10 Holdings

Performance as of 06.30.2014

Portfolio as of 03.31.2014

% Net Assets
Euro-Oat Future Jun14 Xeur 20140606 30.25
US Treasury Note 15.71
Euro-Bund Future Jun14 Xeur 20140606 12.01
Mex Bonos Desarr Fix Rt Bonds 11/42 7.75 7.03
Mexico(Utd Mex St) 8.5% 5.86
Nota Do Tesouro Nacional Notes 01/23 10. 5.76
Italy(Rep Of) 5% 5.37
Hungary(Rep Of) 5.5% 5.35
Mex Bonos Desarr Fix Rt Bonds 05/29 8.5 4.95
Korea(Republic Of) 5.75% 4.83

Bond Ratings (%)

Updated 03.31.2014

Sector LROAX
AAA 13.92
AA 11.88
A 31.94
BBB 25.9
BB 12.09
B 0.0
Below B 2.9
Other 1.37