0001752724-24-103875.txt : 20240516 0001752724-24-103875.hdr.sgml : 20240516 20240516172146 ACCESSION NUMBER: 0001752724-24-103875 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240328 FILED AS OF DATE: 20240516 DATE AS OF CHANGE: 20240516 PERIOD START: 20241231 FILER: COMPANY DATA: COMPANY CONFORMED NAME: LEGG MASON PARTNERS VARIABLE EQUITY TRUST CENTRAL INDEX KEY: 0001176343 ORGANIZATION NAME: IRS NUMBER: 000000000 STATE OF INCORPORATION: MD FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-21128 FILM NUMBER: 24956838 BUSINESS ADDRESS: STREET 1: LEGG MASON & CO., LLC STREET 2: 620 EIGHTH AVENUE, 49TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 BUSINESS PHONE: 1-877-721-1926 MAIL ADDRESS: STREET 1: LEGG MASON & CO., LLC STREET 2: 620 EIGHTH AVENUE, 49TH FLOOR CITY: NEW YORK STATE: NY ZIP: 10018 FORMER COMPANY: FORMER CONFORMED NAME: Legg Mason Partners Variable Portfolios IV DATE OF NAME CHANGE: 20060501 FORMER COMPANY: FORMER CONFORMED NAME: SMITH BARNEY MULTIPLE DISCIPLINE TRUST DATE OF NAME CHANGE: 20021004 FORMER COMPANY: FORMER CONFORMED NAME: SMITH BARNEY MULTIPLE DISCIPLINE ACCOUNT TRUST DATE OF NAME CHANGE: 20020626 0001176343 S000068271 Franklin Templeton Aggressive Model Portfolio C000218574 Class II QLMABX C000218575 Class I QLMAAX NPORT-P 1 primary_doc.xml NPORT-P false 0001176343 XXXXXXXX S000068271 C000218574 C000218575 Legg Mason Partners Variable Equity Trust 811-21128 0001176343 549300W9EP2BXVLOGN89 620 Eighth Avenue 47thFloor New York 10018 1-877-721-1926 Franklin Templeton Aggressive Model Portfolio S000068271 549300NFCDRZGQZD3341 2024-12-31 2024-03-28 N 669006011.54 208494.98 668797516.56 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 641557.08000000 N MainStay VP Epoch US Equity Yield Initl N/A MainStay VP Epoch US Equity Yield Initl 000000000 2190427.67300000 NS USD 39500858.40000000 5.906250759299 Long EC RF US N 2 N N N Fidelity Variable Insurance Products - VIP Growth Opportunities Portfolio H39OKPBXOUBYCSFNP849 Fidelity Variable Insurance Products - VIP Growth Opportunities Portfolio 315802207 482873.05100000 NS USD 33187864.80000000 4.962318785318 Long EC CORP US N 1 N N N Invesco VI International Growth Fund 549300OD9RBN8ENNHU41 Invesco VI International Growth Fund 008892507 802842.52300000 NS USD 28581193.82000000 4.273519729410 Long EC RF US N 1 N N N BlackRock Liquidity Funds Treasury Trust Fund Portfolio 549300U5PI8CHFJM7202 BlackRock Liquidity Funds Treasury Trust Fund Portfolio 09248U551 2823750.64000000 NS USD 2823750.64000000 0.422213086933 Long STIV RF US N 1 N N N MFS Variable Insurance Trust - Research Series N/A MFS Variable Insurance Trust - Research Series 55273F308 761030.70100000 NS USD 26811111.60000000 4.008853342922 Long EC RF US N 1 N N N MainStay VP MacKay Intl Eq Initl N/A MainStay VP MacKay Intl Eq Initl 000000000 2017339.99600000 NS USD 23229871.79000000 3.473378894928 Long EC CORP US N 2 N N N MainStay VPFidty InsAM Utilts Pf Initl N/A MainStay VPFidty InsAM Utilts Pf Initl 000000000 1684136.46500000 NS USD 19204713.35000000 2.871528807221 Long EC RF US N 2 N N N BNY Mellon IP Technology Growth Init N/A BNY Mellon IP Technology Growth Init 000000000 896922.38900000 NS USD 28827085.58000000 4.310285978374 Long EC RF US N 1 N N N Delaware VIP Small Cap Value Series 549300V02QTMX38GSE96 Delaware VIP Small Cap Value Series 246493670 633525.92400000 NS USD 25816181.40000000 3.860089303678 Long EC RF US N 1 N N N Fidelity International Index Fund N/A Fidelity International Index Fund 315911727 552737.93500000 NS USD 27686643.16000000 4.139764648410 Long EC RF US N 1 N N N Fidelity 500 Index Fund VNHOOHES3TKXOTQ3FS51 Fidelity 500 Index Fund 315911750 480689.36800000 NS USD 87942119.88000000 13.14928923963 Long EC RF US N 1 N N N MainStay VP MacKay Common Stock Initl N/A MainStay VP MacKay Common Stock Initl 000000000 1863086.49900000 NS USD 55141957.42000000 8.244940517067 Long EC RF US N 2 N N N ClearBridge Variable Appreciation Portfolio 549300JPS8VIXKYYNE50 ClearBridge Variable Appreciation Portfolio 52467W882 630232.32700000 NS USD 40675194.38000000 6.081839925066 Long EC RF US N 1 N N N MainStay VP Eagle Small Growth Init N/A MainStay VP Eagle Small Growth Init 000000000 1712064.76900000 NS USD 19402145.20000000 2.901049229338 Long EC RF US N 2 N N N MFS VIT Investors Trust Init N/A MFS VIT Investors Trust Init 000000000 845075.68400000 NS USD 33650913.74000000 5.031554828894 Long EC CORP US N 1 N N N Fidelity VIP Equity Income Portfolio N/A Fidelity VIP Equity Income Portfolio 922174305 1594475.09000000 NS USD 42987048.43000000 6.427513165884 Long EC RF US N 1 N N N Fidelity Variable Insurance Products - VIP Emerging Markets Portfolio N/A Fidelity Variable Insurance Products - VIP Emerging Markets Portfolio 922177324 2916388.46600000 NS USD 31817798.16000000 4.757463562911 Long EC RF US N 1 N N N Fidelity US Bond Index 5VUJ0DJSDOFYE2WQN531 Fidelity US Bond Index 316146356 4431948.84300000 NS USD 45516114.62000000 6.805664419047 Long EC RF US N 1 N N N American Funds IS Growth 1A N/A American Funds IS Growth 1A 000000000 500235.95500000 NS USD 55421141.45000000 8.286684695700 Long EC RF US N 2 N N N 2024-05-16 Legg Mason Partners Variable Equity Trust Christopher Berarducci Christopher Berarducci Principal Financial Officer XXXX NPORT-EX 2 LMA7500LM033124.htm HTML

FRANKLIN TEMPLETON AGGRESSIVE MODEL PORTFOLIO

 

Schedules of investments (unaudited)    March 31, 2024

(Percentages shown based on Portfolio net assets)

 

DESCRIPTION

     SHARES      VALUE  
INVESTMENTS IN UNDERLYING FUNDS - 99.4%        
DOMESTIC EQUITY - 76.0%        

American Funds Insurance Series - Growth Fund, Class 1A

        500,236      $ 55,421,142  

BNY Mellon Investment Portfolios - Technology Growth Portfolio, Initial Shares

        896,922        28,827,086  

Delaware VIP Trust - Delaware VIP Small Cap Value Series, Standard Class

        633,526        25,816,181 * 

Fidelity Concord Street Trust - Fidelity® 500 Index Fund, Institutional Premium Shares

        480,689        87,942,120  

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Appreciation Portfolio, Class I Shares

        630,232        40,675,194 (a) 

MainStay VP Funds Trust:

        

MainStay VP Epoch U.S. Equity Yield Portfolio, Initial Class

        2,190,428        39,500,858  

MainStay VP Fidelity Institutional AM® Utilities Portfolio, Initial Class

        1,684,136        19,204,713 (b) 

MainStay VP Small Cap Growth Portfolio, Initial Class

        1,712,065        19,402,145  

MainStay VP Wellington U.S. Equity Portfolio, Initial Class

        1,863,087        55,141,957  

MFS Variable Insurance Portfolios:

        

MFS® Investors Trust Series, Initial Class

        845,076        33,650,914  

MFS® Research Series, Initial Class

        761,031        26,811,112 * 

Variable Insurance Products Fund - VIP Equity-Income Portfolio, Initial Class

        1,594,475        42,987,048  

Variable Insurance Products Fund III - VIP Growth Opportunities Portfolio, Initial Class

        482,873        33,187,865  
       

 

 

  

TOTAL DOMESTIC EQUITY

           508,568,335  
       

 

 

  
FOREIGN EQUITY - 16.6%        

Fidelity Concord Street Trust - Fidelity® International Index Fund, Institutional Premium Shares

        552,738        27,686,643  

Invesco Variable Insurance Funds - Invesco V.I. International Growth Fund, Class I Shares

        802,843        28,581,194 * 

MainStay VP Funds Trust - MainStay VP MacKay International Equity Portfolio, Initial Class

        2,017,340        23,229,872  

Variable Insurance Products Fund - VIP Emerging Markets Portfolio, Initial Class

        2,916,388        31,817,798  
       

 

 

  

TOTAL FOREIGN EQUITY

           111,315,507  
       

 

 

  
DOMESTIC FIXED INCOME - 6.8%        

Fidelity Salem Street Trust - Fidelity® U.S. Bond Index Fund, Institutional Premium Shares

        4,444,180        45,641,734  
       

 

 

  

TOTAL INVESTMENTS IN UNDERLYING FUNDS BEFORE SHORT-TERM INVESTMENTS
(Cost - $587,485,893)

 

        665,525,576  
       

 

 

  
     RATE               
SHORT-TERM INVESTMENTS - 0.5%        

Blackrock Liquidity Funds - Treasury Trust Fund, Institutional Shares
(Cost - $3,465,308)

      5.207 %      3,465,308        3,465,308 (c) 
       

 

 

  

TOTAL INVESTMENTS - 99.9%
(Cost - $590,951,201)

           668,990,884  

Other Assets in Excess of Liabilities - 0.1%

           439,325  
       

 

 

  

TOTAL NET ASSETS - 100.0%

         $ 669,430,209  
       

 

 

  

 

*

Non-income producing security.

 

(a)

Underlying Fund is affiliated with Franklin Resources, Inc. and more information about the Underlying Fund is available at www.franklintempleton.com (Note 2).

 

(b)

Fidelity Institutional AM is a registered service mark of FMR LLC.

 

(c)

Rate shown is one-day yield as of the end of the reporting period.

This Schedule of Investments is unaudited and is intended to provide information about the Portfolio’s investments as of the date of the schedule. Other information regarding the Portfolio is available in the Portfolio’s most recent annual or semi-annual shareholder report.

 

See Notes to Schedules of Investments.

 

 

Franklin Templeton Model Portfolio Funds 2024 Quarterly Report 

  

 

 

1

FRANKLIN TEMPLETON MODERATELY AGGRESSIVE MODEL PORTFOLIO

 

Schedules of investments (unaudited)    March 31, 2024

(Percentages shown based on Portfolio net assets)

 

DESCRIPTION

      SHARES      VALUE  
INVESTMENTS IN UNDERLYING FUNDS - 99.4%         
DOMESTIC EQUITY - 57.9%                

American Funds Insurance Series - Growth Fund, Class 1A

         1,086,261      $ 120,346,908  

BNY Mellon Investment Portfolios - Technology Growth Portfolio, Initial Shares

         1,246,507        40,062,729  

Delaware VIP Trust - Delaware VIP Small Cap Value Series, Standard Class

         990,082        40,345,866 * 

Fidelity Concord Street Trust - Fidelity® 500 Index Fund, Institutional Premium Shares

         1,130,332        206,794,191  

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Appreciation Portfolio, Class I Shares

         1,679,118        108,370,266 (a) 

MainStay VP Funds Trust:

         

MainStay VP Epoch U.S. Equity Yield Portfolio, Initial Class

         4,059,736        73,210,838  

MainStay VP Fidelity Institutional AM® Utilities Portfolio, Initial Class

         4,682,081        53,391,181 (b) 

MainStay VP Small Cap Growth Portfolio, Initial Class

         3,171,604        35,942,517  

MainStay VP Wellington U.S. Equity Portfolio, Initial Class

         3,236,805        95,800,031  

MFS Variable Insurance Portfolios:

         

MFS® Investors Trust Series, Initial Class

         1,879,164        74,828,305  

MFS® Research Series, Initial Class

         1,850,828        65,204,669 * 

Variable Insurance Products Fund - VIP Equity-Income Portfolio, Initial Class

         3,239,707        87,342,495  

Variable Insurance Products Fund III - VIP Growth Opportunities Portfolio, Initial Class

         1,130,087        77,670,883  
        

 

 

  

TOTAL DOMESTIC EQUITY

            1,079,310,879  
        

 

 

  
DOMESTIC FIXED INCOME - 26.4%         

American Funds Insurance Series - The Bond Fund of America, Class 1A

         5,771,005        54,247,444  

BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund, Class I Shares

         4,062,840        27,830,452  

Fidelity Salem Street Trust - Fidelity® U.S. Bond Index Fund, Institutional Premium Shares

         17,733,603        182,124,108  

Legg Mason Partners Variable Income Trust - Western Asset Core Plus VIT Portfolio, Class I Shares

         12,958,327        63,495,804 (a) 

MainStay VP Funds Trust:

         

MainStay VP Bond Portfolio, Initial Class

         3,698,704        45,499,232  

MainStay VP PIMCO Real Return Portfolio, Initial Class

         4,688,451        36,499,591  

PIMCO Variable Insurance Trust - PIMCO Total Return Portfolio, Institutional Class

         9,041,266        82,185,105  
        

 

 

  

TOTAL DOMESTIC FIXED INCOME

            491,881,736  
        

 

 

  
FOREIGN EQUITY - 11.8%         

Fidelity Concord Street Trust - Fidelity® International Index Fund, Institutional Premium Shares

         1,354,432        67,843,511  

Invesco Variable Insurance Funds - Invesco V.I. International Growth Fund, Class I Shares

         1,735,208        61,773,401 * 

MainStay VP Funds Trust - MainStay VP MacKay International Equity Portfolio, Initial Class

         3,204,418        36,899,201  

Variable Insurance Products Fund - VIP Emerging Markets Portfolio, Initial Class

         4,864,205        53,068,472  
        

 

 

  

TOTAL FOREIGN EQUITY

            219,584,585  
        

 

 

  
FOREIGN FIXED INCOME - 3.3%         

Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Emerging Markets Bond Fund, Class 1

         2,951,640        23,288,436 * 

PIMCO Variable Insurance Trust - PIMCO International Bond Portfolio (U.S. Dollar-Hedged), Institutional Class

         3,741,915        36,970,123  
        

 

 

  

TOTAL FOREIGN FIXED INCOME

            60,258,559  
        

 

 

  

TOTAL INVESTMENTS IN UNDERLYING FUNDS BEFORE SHORT-TERM INVESTMENTS
(Cost - $1,712,316,854)

            1,851,035,759  
        

 

 

  

 

See Notes to Schedules of Investments.

 

 

 

2

  

 Franklin Templeton Model Portfolio Funds 2024 Quarterly Report

  

FRANKLIN TEMPLETON MODERATELY AGGRESSIVE MODEL PORTFOLIO

 

Schedules of investments (unaudited) (cont’d)    March 31, 2024

(Percentages shown based on Portfolio net assets)

 

DESCRIPTION

    RATE     SHARES      VALUE  
SHORT-TERM INVESTMENTS - 0.6%        

Blackrock Liquidity Funds - Treasury Trust Fund, Institutional Shares
(Cost - $11,528,971)

      5.207 %      11,528,971      $ 11,528,971 (c) 
       

 

 

  

TOTAL INVESTMENTS - 100.0%
(Cost - $1,723,845,825)

           1,862,564,730  

Other Assets in Excess of Liabilities - 0.0%††

           855,543  
       

 

 

  

TOTAL NET ASSETS - 100.0%

         $ 1,863,420,273  
       

 

 

  

 

††

Represents less than 0.1%.

 

*

Non-income producing security.

 

(a)

Underlying Fund is affiliated with Franklin Resources, Inc. and more information about the Underlying Fund is available at www.franklintempleton.com (Note 2).

 

(b)

Fidelity Institutional AM is a registered service mark of FMR LLC.

 

(c)

Rate shown is one-day yield as of the end of the reporting period.

This Schedule of Investments is unaudited and is intended to provide information about the Portfolio’s investments as of the date of the schedule. Other information regarding the Portfolio is available in the Portfolio’s most recent annual or semi-annual shareholder report.

 

See Notes to Schedules of Investments.

 

 

Franklin Templeton Model Portfolio Funds 2024 Quarterly Report 

  

 

 

3

FRANKLIN TEMPLETON MODERATE MODEL PORTFOLIO

 

Schedules of investments (unaudited)    March 31, 2024

(Percentages shown based on Portfolio net assets)

 

DESCRIPTION

      SHARES      VALUE  
INVESTMENTS IN UNDERLYING FUNDS - 99.5%         
DOMESTIC EQUITY - 47.8%         

American Funds Insurance Series - Growth Fund, Class 1A

                552,423      $ 61,202,986  

BNY Mellon Investment Portfolios - Technology Growth Portfolio, Initial Shares

         990,479        31,833,995  

Delaware VIP Trust - Delaware VIP Small Cap Value Series, Standard Class

         524,407        21,369,574 * 

Fidelity Concord Street Trust - Fidelity® 500 Index Fund, Institutional Premium Shares

         1,062,403        194,366,539  

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Appreciation Portfolio, Class I Shares

         1,044,352        67,402,453 (a) 

MainStay VP Funds Trust:

         

MainStay VP Epoch U.S. Equity Yield Portfolio, Initial Class

         1,613,248        29,092,349  

MainStay VP Fidelity Institutional AM® Utilities Portfolio, Initial Class

         3,721,619        42,438,739 (b) 

MainStay VP Small Cap Growth Portfolio, Initial Class

         1,889,836        21,416,751  

MainStay VP Wellington U.S. Equity Portfolio, Initial Class

         2,057,816        60,905,374  

MFS Variable Insurance Portfolios:

         

MFS® Investors Trust Series, Initial Class

         1,119,866        44,593,073  

MFS® Research Series, Initial Class

         1,050,423        37,006,418 * 

Variable Insurance Products Fund - VIP Equity-Income Portfolio, Initial Class

         1,490,574        40,185,888  

Variable Insurance Products Fund III - VIP Growth Opportunities Portfolio, Initial Class

         448,864        30,850,440  
        

 

 

  

TOTAL DOMESTIC EQUITY

            682,664,579  
        

 

 

  
DOMESTIC FIXED INCOME - 36.2%         

American Funds Insurance Series - The Bond Fund of America, Class 1A

         13,837,038        130,068,164  

BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund, Class I Shares

         3,997,092        27,380,080  

Fidelity Salem Street Trust - Fidelity® U.S. Bond Index Fund, Institutional Premium Shares

         9,822,353        100,875,565  

Legg Mason Partners Variable Income Trust - Western Asset Core Plus VIT Portfolio, Class I Shares

         15,023,549        73,615,389 (a) 

MainStay VP Funds Trust:

         

MainStay VP Bond Portfolio, Initial Class

         3,274,753        40,284,044  

MainStay VP MacKay Convertible Portfolio, Initial Class

         1,865,697        27,582,279  

MainStay VP PIMCO Real Return Portfolio, Initial Class

         4,324,010        33,662,418  

PIMCO Variable Insurance Trust - PIMCO Total Return Portfolio, Institutional Class

         9,265,418        84,222,648  
        

 

 

  

TOTAL DOMESTIC FIXED INCOME

            517,690,587  
        

 

 

  
FOREIGN EQUITY - 11.7%         

Fidelity Concord Street Trust - Fidelity® International Index Fund, Institutional Premium Shares

         1,221,102        61,165,014  

Invesco Variable Insurance Funds - Invesco V.I. International Growth Fund, Class I Shares

         1,181,493        42,061,153 * 

MainStay VP Funds Trust - MainStay VP MacKay International Equity Portfolio, Initial Class

         2,546,367        29,321,667  

Variable Insurance Products Fund - VIP Emerging Markets Portfolio, Initial Class

         3,221,520        35,146,777  
        

 

 

  

TOTAL FOREIGN EQUITY

            167,694,611  
        

 

 

  
FOREIGN FIXED INCOME - 3.8%         

Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Emerging Markets Bond Fund, Class 1

         2,613,106        20,617,410 * 

PIMCO Variable Insurance Trust - PIMCO International Bond Portfolio (U.S. Dollar-Hedged), Institutional Class

         3,451,259        34,098,434  
        

 

 

  

TOTAL FOREIGN FIXED INCOME

            54,715,844  
        

 

 

  

TOTAL INVESTMENTS IN UNDERLYING FUNDS BEFORE SHORT-TERM INVESTMENTS
(Cost - $1,345,238,163)

            1,422,765,621  
        

 

 

  

 

See Notes to Schedules of Investments.

 

 

 

4

  

 Franklin Templeton Model Portfolio Funds 2024 Quarterly Report

  

FRANKLIN TEMPLETON MODERATE MODEL PORTFOLIO

 

Schedules of investments (unaudited) (cont’d)    March 31, 2024

(Percentages shown based on Portfolio net assets)

 

DESCRIPTION

    RATE     SHARES      VALUE  
SHORT-TERM INVESTMENTS - 0.5%        

Blackrock Liquidity Funds - Treasury Trust Fund, Institutional Shares
(Cost - $7,340,953)

      5.207 %      7,340,953      $ 7,340,953 (c) 
       

 

 

  

TOTAL INVESTMENTS - 100.0%
(Cost - $1,352,579,116)

           1,430,106,574  

Liabilities in Excess of Other Assets - (0.0)%††

           (393,642 ) 
       

 

 

  

TOTAL NET ASSETS - 100.0%

         $ 1,429,712,932  
       

 

 

  

 

††

Represents less than 0.1%.

 

*

Non-income producing security.

 

(a)

Underlying Fund is affiliated with Franklin Resources, Inc. and more information about the Underlying Fund is available at www.franklintempleton.com (Note 2).

 

(b)

Fidelity Institutional AM is a registered service mark of FMR LLC.

 

(c)

Rate shown is one-day yield as of the end of the reporting period.

This Schedule of Investments is unaudited and is intended to provide information about the Portfolio’s investments as of the date of the schedule. Other information regarding the Portfolio is available in the Portfolio’s most recent annual or semi-annual shareholder report.

 

See Notes to Schedules of Investments.

 

 

Franklin Templeton Model Portfolio Funds 2024 Quarterly Report 

  

 

 

5

FRANKLIN TEMPLETON MODERATELY CONSERVATIVE MODEL PORTFOLIO

 

Schedules of investments (unaudited)    March 31, 2024

(Percentages shown based on Portfolio net assets)

 

DESCRIPTION

      SHARES      VALUE  
INVESTMENTS IN UNDERLYING FUNDS - 99.1%                
DOMESTIC FIXED INCOME - 47.2%         

American Funds Insurance Series - The Bond Fund of America, Class 1A

         4,813,135      $ 45,243,471  

BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund, Class I Shares

         1,848,785        12,664,177  

Fidelity Salem Street Trust - Fidelity® U.S. Bond Index Fund, Institutional Premium Shares

         2,985,426        30,660,325  

Legg Mason Partners Variable Income Trust - Western Asset Core Plus VIT Portfolio, Class I Shares

         5,894,946        28,885,236 (a) 

MainStay VP Funds Trust:

         

MainStay VP Bond Portfolio, Initial Class

         2,355,885        28,980,679  

MainStay VP MacKay Convertible Portfolio, Initial Class

         575,093        8,502,118  

MainStay VP PIMCO Real Return Portfolio, Initial Class

         2,666,356        20,757,585  

PIMCO Variable Insurance Trust - PIMCO Total Return Portfolio, Institutional Class

         3,199,655        29,084,860  
        

 

 

  

TOTAL DOMESTIC FIXED INCOME

            204,778,451  
        

 

 

  
DOMESTIC EQUITY - 35.3%         

American Funds Insurance Series - Growth Fund, Class 1A

         85,231        9,442,746  

Delaware VIP Trust - Delaware VIP Small Cap Value Series, Standard Class

         134,742        5,490,755 * 

Fidelity Concord Street Trust - Fidelity® 500 Index Fund, Institutional Premium Shares

         310,609        56,825,938  

Legg Mason Partners Variable Equity Trust - ClearBridge Variable Appreciation Portfolio, Class I Shares

         232,603        15,012,211 (a) 

MainStay VP Funds Trust:

         

MainStay VP Epoch U.S. Equity Yield Portfolio, Initial Class

         497,355        8,968,994  

MainStay VP Fidelity Institutional AM® Utilities Portfolio, Initial Class

         1,147,410        13,084,262 (b) 

MainStay VP Small Cap Growth Portfolio, Initial Class

         485,899        5,506,496  

MainStay VP Wellington U.S. Equity Portfolio, Initial Class

         317,282        9,390,618  

MFS Variable Insurance Portfolios:

         

MFS® Investors Trust Series, Initial Class

         258,989        10,312,937  

MFS® Research Series, Initial Class

         259,110        9,128,456 * 

Variable Insurance Products Fund - VIP Equity-Income Portfolio, Initial Class

         375,996        10,136,852  
        

 

 

  

TOTAL DOMESTIC EQUITY

            153,300,265  
        

 

 

  
FOREIGN EQUITY - 8.8%         

Fidelity Concord Street Trust - Fidelity® International Index Fund, Institutional Premium Shares

         414,472        20,760,892  

Invesco Variable Insurance Funds - Invesco V.I. International Growth Fund, Class I Shares

         242,712        8,640,548 * 

Variable Insurance Products Fund - VIP Emerging Markets Portfolio, Initial Class

         794,463        8,667,596  
        

 

 

  

TOTAL FOREIGN EQUITY

            38,069,036  
        

 

 

  
FOREIGN FIXED INCOME - 7.8%         

Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Emerging Markets Bond Fund, Class 1

         1,074,095        8,474,608 * 

PIMCO Variable Insurance Trust - PIMCO International Bond Portfolio (U.S. Dollar-Hedged), Institutional Class

         2,554,184        25,235,333  
        

 

 

  

TOTAL FOREIGN FIXED INCOME

            33,709,941  
        

 

 

  

TOTAL INVESTMENTS IN UNDERLYING FUNDS BEFORE SHORT-TERM INVESTMENTS
(Cost - $422,974,241)

            429,857,693  
        

 

 

  

 

See Notes to Schedules of Investments.

 

 

 

6

  

 Franklin Templeton Model Portfolio Funds 2024 Quarterly Report

  

FRANKLIN TEMPLETON MODERATELY CONSERVATIVE MODEL PORTFOLIO

 

Schedules of investments (unaudited) (cont’d)    March 31, 2024

(Percentages shown based on Portfolio net assets)

 

DESCRIPTION

    RATE     SHARES      VALUE  
SHORT-TERM INVESTMENTS - 0.6%        

Blackrock Liquidity Funds - Treasury Trust Fund, Institutional Shares
(Cost - $2,298,979)

      5.207 %      2,298,979      $ 2,298,979 (c) 
       

 

 

  

TOTAL INVESTMENTS - 99.7%
(Cost - $425,273,220)

           432,156,672  

Other Assets in Excess of Liabilities - 0.3%

           1,479,997  
       

 

 

  

TOTAL NET ASSETS - 100.0%

         $ 433,636,669  
       

 

 

  

 

*

Non-income producing security.

 

(a)

Underlying Fund is affiliated with Franklin Resources, Inc. and more information about the Underlying Fund is available at www.franklintempleton.com (Note 2).

 

(b)

Fidelity Institutional AM is a registered service mark of FMR LLC.

 

(c)

Rate shown is one-day yield as of the end of the reporting period.

This Schedule of Investments is unaudited and is intended to provide information about the Portfolio’s investments as of the date of the schedule. Other information regarding the Portfolio is available in the Portfolio’s most recent annual or semi-annual shareholder report.

 

See Notes to Schedules of Investments.

 

 

Franklin Templeton Model Portfolio Funds 2024 Quarterly Report 

  

 

 

7

FRANKLIN TEMPLETON CONSERVATIVE MODEL PORTFOLIO

 

Schedules of investments (unaudited)    March 31, 2024

(Percentages shown based on Portfolio net assets)

 

DESCRIPTION

     SHARES      VALUE  
INVESTMENTS IN UNDERLYING FUNDS - 99.5%        
DOMESTIC FIXED INCOME - 62.6%        

American Funds Insurance Series - The Bond Fund of America, Class 1A

        1,742,918      $ 16,383,431  

BlackRock Variable Series Funds II, Inc. - BlackRock High Yield V.I. Fund, Class I Shares

        935,098        6,405,422  

Fidelity Salem Street Trust - Fidelity® U.S. Bond Index Fund, Institutional Premium Shares

        1,454,846        14,941,264  

Legg Mason Partners Variable Income Trust - Western Asset Core Plus VIT Portfolio, Class I Shares

        2,236,435        10,958,530 (a) 

MainStay VP Funds Trust:

        

MainStay VP Bond Portfolio, Initial Class

        1,723,669        21,203,542  

MainStay VP MacKay Convertible Portfolio, Initial Class

        218,102        3,224,397  

MainStay VP PIMCO Real Return Portfolio, Initial Class

        1,719,782        13,388,501  

PIMCO Variable Insurance Trust - PIMCO Total Return Portfolio, Institutional Class

        1,647,524        14,975,994  
       

 

 

  

TOTAL DOMESTIC FIXED INCOME

           101,481,081  
       

 

 

  
DOMESTIC EQUITY - 22.0%        

American Funds Insurance Series - Growth Fund, Class 1A

        32,316        3,580,269  

Delaware VIP Trust - Delaware VIP Small Cap Value Series, Standard Class

        40,907        1,666,976 * 

Fidelity Concord Street Trust - Fidelity® 500 Index Fund, Institutional Premium Shares

        119,474        21,857,862  

MainStay VP Funds Trust:

        

MainStay VP Epoch U.S. Equity Yield Portfolio, Initial Class

        188,680        3,402,534  

MainStay VP Small Cap Growth Portfolio, Initial Class

        147,432        1,670,785  

Variable Insurance Products Fund - VIP Equity-Income Portfolio, Initial Class

        126,780        3,417,994  
       

 

 

  

TOTAL DOMESTIC EQUITY

           35,596,420  
       

 

 

  
FOREIGN FIXED INCOME - 12.8%        

Columbia Funds Variable Series Trust II - Columbia Variable Portfolio - Emerging Markets Bond Fund, Class 1

        407,445        3,214,742 * 

PIMCO Variable Insurance Trust - PIMCO International Bond Portfolio (U.S. Dollar-Hedged), Institutional Class

        1,776,607        17,552,876  
       

 

 

  

TOTAL FOREIGN FIXED INCOME

           20,767,618  
       

 

 

  
FOREIGN EQUITY - 2.1%        

Fidelity Concord Street Trust - Fidelity® International Index Fund, Institutional Premium Shares

        67,134        3,362,745  
       

 

 

  

TOTAL INVESTMENTS IN UNDERLYING FUNDS BEFORE SHORT-TERM INVESTMENTS
(Cost - $166,331,876)

           161,207,864  
       

 

 

  
    

RATE

               
SHORT-TERM INVESTMENTS - 0.5%        

Blackrock Liquidity Funds - Treasury Trust Fund, Institutional Shares
(Cost - $857,370)

      5.207 %      857,370        857,370 (b) 
       

 

 

  

TOTAL INVESTMENTS - 100.0%
(Cost - $167,189,246)

           162,065,234  

Liabilities in Excess of Other Assets - (0.0)%††

           (49,488 ) 
       

 

 

  

TOTAL NET ASSETS - 100.0%

         $ 162,015,746  
       

 

 

  

 

††

Represents less than 0.1%.

 

*

Non-income producing security.

 

(a)

Underlying Fund is affiliated with Franklin Resources, Inc. and more information about the Underlying Fund is available at www.franklintempleton.com (Note 2).

 

(b)

Rate shown is one-day yield as of the end of the reporting period.

This Schedule of Investments is unaudited and is intended to provide information about the Portfolio’s investments as of the date of the schedule. Other information regarding the Portfolio is available in the Portfolio’s most recent annual or semi-annual shareholder report.

 

See Notes to Schedules of Investments.

 

 

 

8

  

 Franklin Templeton Model Portfolio Funds 2024 Quarterly Report

  

Notes to Schedules of Investments (unaudited)

 

1. Organization and significant accounting policies

Franklin Templeton Aggressive Model Portfolio (“Aggressive Model Portfolio”), Franklin Templeton Moderately Aggressive Model Portfolio (“Moderately Aggressive Model Portfolio”), Franklin Templeton Moderate Model Portfolio (“Moderate Model Portfolio”), Franklin Templeton Moderately Conservative Model Portfolio (“Moderately Conservative Model Portfolio”) and Franklin Templeton Conservative Model Portfolio (“Conservative Model Portfolio”) (collectively, the “Portfolios”) are separate diversified investment series of Legg Mason Partners Variable Equity 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 Portfolios invest in insurance-dedicated mutual funds that have been selected by New York Life Insurance and Annuity Corporation (“NYLIAC”) as investment options for use with their variable annuity and variable universal life insurance policies, noninsurance-dedicated mutual funds and exchange traded funds (“Underlying Funds”). The Underlying Funds include funds managed by investment advisers that are not affiliated with Franklin Resources, Inc. (“Franklin Resources”) and funds managed by Franklin Resources affiliated investment advisers. Shares of the Portfolios are offered to variable annuity and variable life insurance separate accounts established by NYLIAC.

Shares of the Portfolios may only be purchased or redeemed through variable annuity contracts and variable life insurance policies issued by NYLIAC through their separate accounts.

The Portfolios follow 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 Portfolios and are in conformity with U.S. generally accepted accounting principles (“GAAP”), including, but not limited to, ASC 946.

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

Pursuant to policies adopted by the Board of Trustees, the Portfolios’ manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Portfolios’ 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 Portfolios’ pricing policies, and reporting to the Portfolios’ manager and the Board of Trustees. When determining the reliability of third party pricing information for investments owned by the Portfolios, 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

 

 

Franklin Templeton Model Portfolio Funds 2024 Quarterly Report 

  

 

 

9

Notes to Schedules of Investments (unaudited) (cont’d)

 

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. Additionally, if the closing net asset value per share for an Underlying Fund is not available on the day of valuation, the Valuation Committee may adjust the Underlying Fund’s last available net asset value per share to account for significant events that have occurred subsequent to the Underlying Fund’s last net asset value per share calculation but prior to the day of valuation.

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 Portfolios use 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.

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 Portfolios’ 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 Portfolios_ assets carried at fair value:

Aggressive Model Portfolio

 

ASSETS

  

DESCRIPTION

    QUOTED PRICES
(LEVEL 1)		      OTHER SIGNIFICANT
OBSERVABLE INPUTS
(Level 2)		      SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)		      TOTAL  

Long-Term Investments:

            

Investments in Underlying Funds†:

            

Domestic Equity

    $ 319,897,520      $ 188,670,815        —       $ 508,568,335  

Foreign Equity

      88,085,635        23,229,872        —         111,315,507  

Domestic Fixed Income

      45,641,734        —         —         45,641,734  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Long-Term Investments

      453,624,889        211,900,687        —         665,525,576  
  

 

 

     

 

 

     

 

 

     

 

 

  

Short-Term Investments†

      3,465,308        —         —         3,465,308  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $ 457,090,197      $ 211,900,687        —       $ 668,990,884  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

†

See Schedule of Investments for additional detailed categorizations.

Moderately Aggressive Model Portfolio

 

ASSETS

  

DESCRIPTION

    QUOTED PRICES
(LEVEL 1)		      OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)		      SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)		      TOTAL  

Long-Term Investments:

            

Investments in Underlying Funds†:

            

Domestic Equity

    $ 700,619,404      $ 378,691,474        —       $ 1,079,310,878  

Domestic Fixed Income

      409,882,913        81,998,823        —         491,881,736  

 

 

 

10

  

 Franklin Templeton Model Portfolio Funds 2024 Quarterly Report

  

Notes to Schedules of Investments (unaudited) (cont’d)

 

ASSETS (cont’d)

  

DESCRIPTION

    QUOTED PRICES
(LEVEL 1)		      OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)		      SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)		      TOTAL  

Foreign Fixed Income

    $ 60,258,559        —         —       $ 60,258,559  

Foreign Equity

      182,685,385      $ 36,899,201        —         219,584,586  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Long-Term Investments

      1,353,446,261        497,589,498        —         1,851,035,759  
  

 

 

     

 

 

     

 

 

     

 

 

  

Short-Term Investments†

      11,528,971        —         —         11,528,971  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $ 1,364,975,232      $ 497,589,498        —       $ 1,862,564,730  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

†

See Schedule of Investments for additional detailed categorizations.

Moderate Model Portfolio

 

ASSETS

  

DESCRIPTION

    QUOTED PRICES
(LEVEL 1)		      OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)		      SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)		      TOTAL  

Long-Term Investments:

            

Investments in Underlying Funds†:

            

Domestic Equity

    $ 467,608,380      $ 215,056,199        —       $ 682,664,579  

Domestic Fixed Income

      416,161,846        101,528,741        —         517,690,587  

Foreign Fixed Income

      54,715,844        —         —         54,715,844  

Foreign Equity

      138,372,944        29,321,667        —         167,694,611  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Long-Term Investments

      1,076,859,014        345,906,607        —         1,422,765,621  
  

 

 

     

 

 

     

 

 

     

 

 

  

Short-Term Investments†

      7,340,953        —         —         7,340,953  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $ 1,084,199,967      $ 345,906,607        —       $ 1,430,106,574  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

†

See Schedule of Investments for additional detailed categorizations.

Moderately Conservative Model Portfolio

 

ASSETS

  

DESCRIPTION

    QUOTED PRICES
(LEVEL 1)		      OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)		      SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)		      TOTAL  

Long-Term Investments:

            

Investments in Underlying Funds†:

            

Domestic Equity

    $ 106,907,148      $ 46,393,116        —       $ 153,300,264  

Domestic Fixed Income

      146,538,069        58,240,382        —         204,778,451  

Other Investments in Underlying Funds

      71,778,978        —         —         71,778,978  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Long-Term Investments

      325,224,195        104,633,498        —         429,857,693  
  

 

 

     

 

 

     

 

 

     

 

 

  

Short-Term Investments†

      2,298,979        —         —         2,298,979  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $ 327,523,174      $ 104,633,498        —       $ 432,156,672  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

†

See Schedule of Investments for additional detailed categorizations.

Conservative Model Portfolio

 

ASSETS

  

DESCRIPTION

    QUOTED PRICES
(LEVEL 1)		      OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)		      SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)		      TOTAL  

Long-Term Investments:

            

Investments in Underlying Funds†:

            

Domestic Equity

    $ 26,942,832      $ 8,653,588        —       $ 35,596,420  

 

 

Franklin Templeton Model Portfolio Funds 2024 Quarterly Report 

  

 

 

11

Notes to Schedules of Investments (unaudited) (cont’d)

 

ASSETS (cont’d)

  

DESCRIPTION

    QUOTED PRICES
(LEVEL 1)		      OTHER SIGNIFICANT
OBSERVABLE INPUTS
(LEVEL 2)		      SIGNIFICANT
UNOBSERVABLE
INPUTS
(LEVEL 3)		      TOTAL  

Domestic Fixed Income

    $ 63,664,641      $ 37,816,440        —       $ 101,481,081  

Other Investments in Underlying Funds

      24,130,363        —         —         24,130,363  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Long-Term Investments

      114,737,836        46,470,028        —         161,207,864  
  

 

 

     

 

 

     

 

 

     

 

 

  

Short-Term Investments†

      857,370        —         —         857,370  
  

 

 

     

 

 

     

 

 

     

 

 

  

Total Investments

    $ 115,595,206      $ 46,470,028        —       $ 162,065,234  
  

 

 

     

 

 

     

 

 

     

 

 

  

 

†

See Schedule of Investments for additional detailed categorizations.

2. Transactions with affiliated companies

As defined by the 1940 Act, an affiliated company is one in which the Portfolios own 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Portfolios. The following Underlying Funds were considered affiliated companies for all or some portion of the period ended March 31, 2024. The following transactions were effected in such Underlying Funds for the period ended March 31, 2024.

 

Aggressive Model Portfolio

    Affiliate
Value at
December 31,
2023		      Purchased      Sold      Realized
Gain (Loss)
from Sale
of Affiliated
Underlying
Funds		     Income
Distributions
from
Affiliated
Underlying
Funds		      Capital Gain
Distributions
from
Affiliated
Underlying
Funds		      Net Increase
(Decrease) in
Unrealized
Appreciation
(Depreciation)		      Affiliate
Value at
March 31,
2024		  
   Cost      Shares      Proceeds      Shares  
                            
ClearBridge Variable Appreciation Portfolio, Class I Shares    $ 33,843,192      $ 2,928,037        48,445      $ 87,051        1,414      $ (1,287 )      —         —       $ 3,992,303      $ 40,675,194  

 

Moderately Aggressive
Model Portfolio

    Affiliate
Value at
December 31,
2023		      Purchased      Sold      Realized
Gain (Loss)
from Sale
of Affiliated
Underlying
Funds		     Income
Distributions
from
Affiliated
Underlying
Funds		      Capital Gain
Distributions
from
Affiliated
Underlying
Funds		      Net Increase
(Decrease) in
Unrealized
Appreciation
(Depreciation)		     Affiliate
Value at
March 31,
2024		  
   Cost      Shares      Proceeds      Shares  
                           
ClearBridge Variable Appreciation Portfolio, Class I Shares    $ 93,584,597      $ 3,940,309        67,963      $ 93,268        1,538      $ (2,784 )      —         —       $ 10,941,412     $ 108,370,266  
Western Asset Core Plus VIT Portfolio, Class I Shares      58,369,015        5,688,674        1,166,607        —         —         —        —         —         (561,885 )      63,495,804  
  

 

 

     

 

 

        

 

 

        

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  
   $ 151,953,612      $ 9,628,983         $ 93,268         $ (2,784 )      —         —       $ 10,379,527     $ 171,866,070  
  

 

 

     

 

 

        

 

 

        

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

 

Moderate Model Portfolio

    Affiliate
Value at
December 31,
2023		      Purchased      Sold      Realized
Gain (Loss)
from Sale
of Affiliated
Underlying
Funds		      Income
Distributions
from
Affiliated
Underlying
Funds		      Capital Gain
Distributions
from
Affiliated
Underlying
Funds		      Net Increase
(Decrease) in
Unrealized
Appreciation
(Depreciation)		     Affiliate
Value at
March 31,
2024		  
   Cost      Shares      Proceeds      Shares  
                            
ClearBridge Variable Appreciation Portfolio, Class I Shares    $ 58,867,701      $ 1,773,682        29,916        —         —         —         —         —       $ 6,761,070     $ 67,402,453  
Western Asset Core Plus VIT Portfolio, Class I Shares      71,168,849        3,166,264        646,004        —         —         —         —         —         (719,724 )      73,615,389  
  

 

 

     

 

 

        

 

 

        

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  
   $ 130,036,550      $ 4,939,946           —                  —         —         —       $ 6,041,346     $ 141,017,842  
  

 

 

     

 

 

        

 

 

        

 

 

     

 

 

     

 

 

     

 

 

    

 

 

  

 

 

 

12

  

 Franklin Templeton Model Portfolio Funds 2024 Quarterly Report

  

Notes to Schedules of Investments (unaudited) (cont’d)

 

Moderately Conservative
Model Portfolio

    Affiliate
Value at
December 31,
2023		      Purchased      Sold      Realized
Gain (Loss)
from Sale
of Affiliated
Underlying
Funds		     Income
Distributions
from
Affiliated
Underlying
Funds		      Capital Gain
Distributions
from
Affiliated
Underlying
Funds		      Net Increase
(Decrease) in
Unrealized
Appreciation
(Depreciation)		     Affiliate
Value at
March 31,
2024		  
   Cost      Shares      Proceeds      Shares  
                           
ClearBridge Variable Appreciation Portfolio, Class I Shares    $ 13,866,286      $ 119,684        2,075      $ 517,045        8,422      $ 14,122       —         —       $ 1,529,164     $ 15,012,211  
Western Asset Core Plus VIT Portfolio, Class I Shares      30,145,215        99,351        20,194        1,050,579        215,190        (61,952 )      —         —         (246,799 )      28,885,236  
  

 

 

     

 

 

        

 

 

        

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  
   $ 44,011,501      $ 219,035         $ 1,567,624         $ (47,830 )      —         —       $ 1,282,365     $ 43,897,447  
  

 

 

     

 

 

        

 

 

        

 

 

    

 

 

     

 

 

     

 

 

    

 

 

  

 

Conservative Model Portfolio

    Affiliate
Value at
December 31,
2023		      Purchased      Sold      Realized
Gain (Loss)
from Sale
of Affiliated
Underlying
Funds		     Income
Distributions
from
Affiliated
Underlying
Funds		      Capital Gain
Distributions
from
Affiliated
Underlying
Funds		      Net Increase
(Decrease) in
Unrealized
Appreciation
(Depreciation)		     Affiliate
Value at
March 31,
2024		  
   Cost      Shares      Proceeds      Shares  
                           
Western Asset Core Plus VIT Portfolio, Class I Shares    $ 11,423,877      $ 75,975        15,537      $ 423,672        86,956      $ (25,891 )      —         —       $ (91,759 )    $ 10,958,530  

 

 

Franklin Templeton Model Portfolio Funds 2024 Quarterly Report 

  

 

 

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