Edgar Filing: Western Asset Investment Grade Defined Opportunity Trust Inc.

Western Asset Investment Grade Defined Opportunity Trust Inc.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-22294

Western Asset Investment Grade Defined

Opportunity Trust Inc.

(Exact name of registrant as specified in charter)

620 Eighth Avenue, 49^th Floor, New York, NY 10018

(Address of principal executive offices) (Zip code)

Robert I. Frenkel, Esq.

Legg Mason & Co., LLC

100 First Stamford Place

Stamford, CT 06902

(Name and address of agent for service)

Registrant’s telephone number, including area code: 1-888-777-0102

Date of fiscal year end: November 30

Date of reporting period: February 28, 2019

ITEM 1.

SCHEDULE OF INVESTMENTS.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.

FORM N-Q

FEBRUARY 28, 2019

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CORPORATE BONDS & NOTES - 91.2%
COMMUNICATION SERVICES - 12.1%
Diversified Telecommunication Services - 4.4%
AT&T Inc., Senior Notes		4.500	%		5/15/35		370,000	$	349,076
AT&T Inc., Senior Notes		4.800	%		6/15/44		290,000		272,663
AT&T Inc., Senior Notes		4.500	%		3/9/48		422,000		375,722
AT&T Inc., Senior Notes (3 mo. USD LIBOR + 1.180%)		3.956	%		6/12/24		760,000		752,196	^(a)
British Telecommunications PLC, Senior Notes		9.625	%		12/15/30		1,700,000		2,376,556
Koninklijke KPN NV, Senior Notes		8.375	%		10/1/30		430,000		518,197
Telefonica Emisiones SAU, Senior Notes		7.045	%		6/20/36		140,000		164,918
Verizon Communications Inc., Senior Notes		5.150	%		9/15/23		2,460,000		2,672,796
Verizon Communications Inc., Senior Notes		4.329	%		9/21/28		218,000		225,938
Verizon Communications Inc., Senior Notes		5.500	%		3/16/47		1,130,000		1,257,768
Verizon Communications Inc., Senior Notes		5.012	%		8/21/54		398,000		408,881

Total Diversified Telecommunication Services									9,374,711

Media - 6.9%
21st Century Fox America Inc., Senior Notes		6.650	%		11/15/37		2,400,000		3,137,382
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.384	%		10/23/35		180,000		192,974
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.484	%		10/23/45		420,000		452,344
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		5/1/47		560,000		532,082
Comcast Corp., Senior Notes		5.700	%		7/1/19		1,500,000		1,514,206
Comcast Corp., Senior Notes		6.400	%		5/15/38		2,500,000		3,067,119
DISH DBS Corp., Senior Notes		7.875	%		9/1/19		690,000		705,525
Fox Corp., Senior Notes		4.709	%		1/25/29		420,000		436,629	^(b)
Fox Corp., Senior Notes		5.476	%		1/25/39		810,000		854,737	^(b)
Time Warner Cable LLC, Senior Secured Notes		6.550	%		5/1/37		370,000		392,865
Time Warner Cable LLC, Senior Secured Notes		7.300	%		7/1/38		330,000		369,978
Time Warner Cable LLC, Senior Secured Notes		6.750	%		6/15/39		20,000		21,507
Time Warner Cable LLC, Senior Secured Notes		5.500	%		9/1/41		200,000		189,623
Time Warner Entertainment Co. LP, Senior Secured Notes		8.375	%		3/15/23		1,170,000		1,350,361
Time Warner Entertainment Co. LP, Senior Secured Notes		8.375	%		7/15/33		370,000		469,201
UBM PLC, Senior Notes		5.750	%		11/3/20		740,000		763,045	^(b)

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Viacom Inc., Senior Notes		5.250	%		4/1/44		80,000	$	77,428
Warner Media LLC, Senior Notes		4.900	%		6/15/42		250,000		237,836

Total Media									14,764,842

Wireless Telecommunication Services - 0.8%
Sprint Corp., Senior Notes		7.250	%		9/15/21		680,000		719,950
Sprint Corp., Senior Notes		7.875	%		9/15/23		120,000		128,731
Telefonica Europe BV, Senior Notes		8.250	%		9/15/30		390,000		503,985
Vodafone Group PLC, Senior Notes		5.250	%		5/30/48		530,000		505,872

Total Wireless Telecommunication Services									1,858,538

TOTAL COMMUNICATION SERVICES									25,998,091

CONSUMER DISCRETIONARY - 2.1%
Automobiles - 0.7%
Ford Motor Co., Senior Notes		9.215	%		9/15/21		640,000		707,406
General Motors Co., Senior Notes		6.600	%		4/1/36		290,000		300,262
General Motors Co., Senior Notes		6.750	%		4/1/46		580,000		597,855

Total Automobiles									1,605,523

Hotels, Restaurants & Leisure - 0.7%
McDonald’s Corp., Senior Notes		4.700	%		12/9/35		260,000		267,889
McDonald’s Corp., Senior Notes		4.875	%		12/9/45		370,000		382,071
Sands China Ltd., Senior Notes		5.125	%		8/8/25		690,000		706,409
Sands China Ltd., Senior Notes		5.400	%		8/8/28		200,000		203,599

Total Hotels, Restaurants & Leisure									1,559,968

Internet & Direct Marketing Retail - 0.2%
Amazon.com Inc., Senior Notes		3.875	%		8/22/37		410,000		409,223

Specialty Retail - 0.5%
Home Depot Inc., Senior Notes		3.900	%		12/6/28		930,000		965,466

TOTAL CONSUMER DISCRETIONARY									4,540,180

CONSUMER STAPLES - 3.7%
Beverages - 1.1%
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.750	%		1/23/29		580,000		606,677
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.600	%		4/15/48		1,730,000		1,595,945
Constellation Brands Inc., Senior Notes		4.250	%		5/1/23		100,000		103,116

Total Beverages									2,305,738

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Food & Staples Retailing - 0.4%
Kroger Co., Senior Notes		4.650	%		1/15/48		140,000	$	125,671
Walgreen Co., Senior Notes		3.100	%		9/15/22		400,000		399,072
Walmart Inc., Senior Notes		4.050	%		6/29/48		360,000		363,685

Total Food & Staples Retailing									888,428

Food Products - 0.2%
Kraft Heinz Foods Co., Senior Notes		5.000	%		7/15/35		70,000		66,425
Kraft Heinz Foods Co., Senior Notes		5.000	%		6/4/42		220,000		199,984
Kraft Heinz Foods Co., Senior Notes		5.200	%		7/15/45		100,000		93,191

Total Food Products									359,600

Tobacco - 2.0%
Altria Group Inc., Senior Notes		9.250	%		8/6/19		1,000,000		1,025,419
Altria Group Inc., Senior Notes		3.800	%		2/14/24		290,000		291,182
Altria Group Inc., Senior Notes		4.400	%		2/14/26		500,000		505,126
Altria Group Inc., Senior Notes		4.800	%		2/14/29		1,360,000		1,360,450
Altria Group Inc., Senior Notes		3.875	%		9/16/46		80,000		60,563
Reynolds American Inc., Senior Notes		8.125	%		5/1/40		470,000		551,466
Reynolds American Inc., Senior Notes		7.000	%		8/4/41		510,000		532,930
Reynolds American Inc., Senior Notes		5.850	%		8/15/45		100,000		95,424

Total Tobacco									4,422,560

TOTAL CONSUMER STAPLES									7,976,326

ENERGY - 14.2%
Energy Equipment & Services - 0.4%
Halliburton Co., Senior Notes		5.000	%		11/15/45		930,000		957,590

Oil, Gas & Consumable Fuels - 13.8%
Anadarko Petroleum Corp., Senior Notes		4.850	%		3/15/21		598,000		614,742
Anadarko Petroleum Corp., Senior Notes		5.550	%		3/15/26		750,000		803,028
Andeavor Logistics LP/Tesoro Logistics Finance Corp., Senior Notes		5.250	%		1/15/25		500,000		509,122
Andeavor Logistics LP/Tesoro Logistics Finance Corp., Senior Notes		4.250	%		12/1/27		500,000		492,228
Apache Corp., Senior Notes		6.000	%		1/15/37		84,000		87,202
Apache Corp., Senior Notes		5.100	%		9/1/40		280,000		267,783
Apache Corp., Senior Notes		5.250	%		2/1/42		160,000		154,950
Apache Corp., Senior Notes		4.750	%		4/15/43		670,000		610,156
Cimarex Energy Co., Senior Notes		4.375	%		6/1/24		420,000		427,487
Cimarex Energy Co., Senior Notes		3.900	%		5/15/27		250,000		241,167
Concho Resources Inc., Senior Notes		3.750	%		10/1/27		110,000		106,820
Concho Resources Inc., Senior Notes		4.300	%		8/15/28		280,000		282,147
ConocoPhillips, Senior Notes		6.500	%		2/1/39		1,500,000		1,964,762
Continental Resources Inc., Senior Notes		4.500	%		4/15/23		880,000		897,676

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Continental Resources Inc., Senior Notes		4.375	%		1/15/28		430,000	$	429,029
Devon Energy Corp., Senior Notes		5.850	%		12/15/25		560,000		619,053
Devon Energy Corp., Senior Notes		5.600	%		7/15/41		20,000		21,688
Devon Energy Corp., Senior Notes		5.000	%		6/15/45		210,000		214,369
Ecopetrol SA, Senior Notes		5.875	%		5/28/45		404,000		408,868
Energy Transfer LP, Senior Secured Notes		7.500	%		10/15/20		420,000		447,300
Energy Transfer Operating LP, Senior Notes		4.200	%		9/15/23		510,000		520,820
Energy Transfer Operating LP, Senior Notes		5.250	%		4/15/29		20,000		20,901
Energy Transfer Operating LP, Senior Notes		6.625	%		10/15/36		20,000		21,609
Energy Transfer Operating LP, Senior Notes		5.800	%		6/15/38		60,000		61,357
Enterprise Products Operating LLC, Senior Notes		4.250	%		2/15/48		400,000		375,255
Enterprise Products Operating LLC, Senior Notes (5.375% to 2/15/28 then 3 mo. USD LIBOR + 2.570%)		5.375	%		2/15/78		570,000		499,791	^(a)
Kerr-McGee Corp., Senior Notes		6.950	%		7/1/24		1,320,000		1,489,023
Kerr-McGee Corp., Senior Notes		7.875	%		9/15/31		710,000		878,953
Kinder Morgan Inc., Senior Notes		7.800	%		8/1/31		900,000		1,126,235
MEG Energy Corp., Senior Notes		6.375	%		1/30/23		280,000		256,550	^(b)
MEG Energy Corp., Senior Notes		7.000	%		3/31/24		620,000		570,400	^(b)
MPLX LP, Senior Notes		4.800	%		2/15/29		660,000		676,632
MPLX LP, Senior Notes		4.500	%		4/15/38		600,000		554,118
Newfield Exploration Co., Senior Notes		5.750	%		1/30/22		350,000		369,250
NGPL PipeCo LLC, Senior Notes		4.875	%		8/15/27		60,000		60,581	^(b)
Noble Energy Inc., Senior Notes		6.000	%		3/1/41		660,000		686,585
Noble Energy Inc., Senior Notes		5.250	%		11/15/43		240,000		225,923
Occidental Petroleum Corp., Senior Notes		4.400	%		4/15/46		30,000		30,759
Petrobras Global Finance BV, Senior Notes		7.375	%		1/17/27		530,000		583,530
Petroleos Mexicanos, Senior Notes		6.875	%		8/4/26		730,000		730,913
Petroleos Mexicanos, Senior Notes		6.625	%		6/15/35		460,000		418,600
Petroleos Mexicanos, Senior Notes		6.375	%		1/23/45		80,000		67,480
Southern Natural Gas Co. LLC, Senior Notes		8.000	%		3/1/32		1,500,000		1,933,183
Sunoco Logistics Partners Operations LP, Senior Notes		3.900	%		7/15/26		630,000		612,205
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		7.850	%		2/1/26		760,000		932,120
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		7.250	%		12/1/26		180,000		213,199
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		5.400	%		8/15/41		10,000		10,445

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		4.450	%		8/1/42		860,000	$	809,965
Western Midstream Operating LP, Senior Notes		4.650	%		7/1/26		1,560,000		1,550,727
Western Midstream Operating LP, Senior Notes		4.750	%		8/15/28		680,000		672,114
Williams Cos. Inc., Senior Notes		5.250	%		3/15/20		460,000		469,739
Williams Cos. Inc., Senior Notes		7.875	%		9/1/21		952,000		1,046,926
Williams Cos. Inc., Senior Notes		4.550	%		6/24/24		1,130,000		1,170,028
Williams Cos. Inc., Senior Notes		7.750	%		6/15/31		62,000		74,572
Williams Cos. Inc., Senior Notes		8.750	%		3/15/32		148,000		199,321

Total Oil, Gas & Consumable Fuels									29,519,386

TOTAL ENERGY									30,476,976

FINANCIALS - 31.6%
Banks - 18.1%
Banco Mercantil del Norte SA, Junior
Subordinated Notes (7.625% to 1/10/28 then 10 year Treasury Constant Maturity Rate + 5.353%)		7.625	%		1/10/28		400,000		394,000	^(a)(b)(c)
Bank of America Corp., Junior Subordinated
Notes (6.100% to 3/17/25 then 3 mo. USD LIBOR + 3.898%)		6.100	%		3/17/25		590,000		627,772	^(a)(c)
Bank of America Corp., Junior Subordinated Notes (6.250% to 9/5/24 then 3 mo. USD LIBOR +3.705%)		6.250	%		9/5/24		880,000		931,440	^(a)(c)
Bank of America Corp., Junior Subordinated Notes (6.500% to 10/23/24 then 3 mo. USD LIBOR + 4.174%)		6.500	%		10/23/24		400,000		434,334	^(a)(c)
Bank of America Corp., Senior Notes		7.625	%		6/1/19		2,760,000		2,791,889
Bank of America Corp., Senior Notes		5.875	%		2/7/42		1,340,000		1,632,492
Bank of America Corp., Senior Notes (4.271% to 7/23/28 then 3 mo. USD LIBOR + 1.310%)		4.271	%		7/23/29		690,000		709,331	^(a)
Bank of America Corp., Subordinated Notes		7.750	%		5/14/38		670,000		904,499
Barclays Bank PLC, Subordinated Notes		7.625	%		11/21/22		430,000		464,222
Barclays PLC, Junior Subordinated Notes (7.750% to 9/15/23 then USD 5 year Swap Rate + 4.842%)		7.750	%		9/15/23		320,000		319,467	^(a)(c)
Barclays PLC, Subordinated Notes		4.836	%		5/9/28		380,000		367,209
BNP Paribas SA, Junior Subordinated Notes (7.375% to 8/19/25 then USD 5 year Swap Rate + 5.150%)		7.375	%		8/19/25		1,520,000		1,603,266	^(a)(b)(c)

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
BNP Paribas SA, Junior Subordinated Notes (7.625% to 3/30/21 then USD 5 year Swap Rate + 6.314%)		7.625	%		3/30/21		240,000	$	253,040	^(a)(b)(c)
Citigroup Inc., Junior Subordinated Bonds (6.250% to 8/15/26 then 3 mo. USD LIBOR + 4.517%)		6.250	%		8/15/26		1,100,000		1,157,343	^(a)(c)
Citigroup Inc., Junior Subordinated Notes (6.300% to 5/15/24 then 3 mo. USD LIBOR + 3.423%)		6.300	%		5/15/24		1,350,000		1,375,616	^(a)(c)
Citigroup Inc., Senior Notes		8.125	%		7/15/39		752,000		1,092,894
Citigroup Inc., Senior Notes		4.650	%		7/23/48		420,000		438,775
Citigroup Inc., Subordinated Notes		4.600	%		3/9/26		490,000		501,679
Citigroup Inc., Subordinated Notes		4.125	%		7/25/28		2,290,000		2,255,139
Citigroup Inc., Subordinated Notes		6.675	%		9/13/43		630,000		778,296
Citizens Bank NA, Senior Notes		3.250	%		2/14/22		1,170,000		1,172,956
Cooperatieve Rabobank U.A., Senior Notes		5.750	%		12/1/43		750,000		861,178
Credit Agricole SA, Junior Subordinated Notes (8.125% to 12/23/25 then USD 5 year Swap Rate + 6.185%)		8.125	%		12/23/25		1,370,000		1,531,015	^(a)(b)(c)
Credit Agricole SA, Junior Subordinated Notes (8.375% to 10/13/19 then 3 mo. USD LIBOR + 6.982%)		8.375	%		10/13/19		500,000		515,000	^(a)(b)(c)
Danske Bank, Senior Notes		5.000	%		1/12/22		740,000		755,799	^(b)
Danske Bank, Senior Notes		5.375	%		1/12/24		530,000		546,745	^(b)
HSBC Holdings PLC, Junior Subordinated Notes (6.375% to 9/17/24 then USD 5 year ICE Swap Rate + 3.705%)		6.375	%		9/17/24		800,000		803,668	^(a)(c)
HSBC Holdings PLC, Junior Subordinated Notes (6.500% to 3/23/28 then USD 5 year ICE Swap Rate + 3.606%)		6.500	%		3/23/28		460,000		453,261	^(a)(c)
Intesa Sanpaolo SpA, Subordinated Notes		5.710	%		1/15/26		1,470,000		1,377,391	^(b)
JPMorgan Chase & Co., Junior Subordinated Notes (6.000% to 8/1/23 then 3 mo. USD LIBOR + 3.300%)		6.000	%		8/1/23		700,000		721,585	^(a)(c)
JPMorgan Chase & Co., Senior Notes		6.400	%		5/15/38		1,500,000		1,887,528
JPMorgan Chase & Co., Subordinated Notes		5.625	%		8/16/43		760,000		872,059
Lloyds Banking Group PLC, Junior Subordinated Notes (7.500% to 6/27/24 then USD 5 year Swap Rate + 4.760%)		7.500	%		6/27/24		620,000		640,770	^(a)(c)

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Lloyds Banking Group PLC, Junior Subordinated Notes (7.500% to 9/27/25 then USD 5 year Swap Rate + 4.496%)		7.500	%		9/27/25		470,000	$	481,268	^(a)(c)
NatWest Markets NV, Subordinated Notes		7.750	%		5/15/23		820,000		892,673
PNC Bank NA, Subordinated Notes		4.050	%		7/26/28		650,000		670,142
Royal Bank of Scotland Group PLC, Junior Subordinated Notes (7.648% to 9/30/31 then 3 mo. USD LIBOR + 2.500%)		7.648	%		9/30/31		710,000		891,050	^(a)(c)
Royal Bank of Scotland Group PLC, Junior Subordinated Notes (8.625% to 8/15/21 then USD 5 year Swap Rate + 7.598%)		8.625	%		8/15/21		950,000		1,021,060	^(a)(c)
Royal Bank of Scotland Group PLC, Subordinated Notes		6.100	%		6/10/23		840,000		882,152
Santander Holdings USA Inc., Senior Notes		4.400	%		7/13/27		500,000		488,922
Standard Chartered PLC, Subordinated Notes		5.700	%		3/26/44		410,000		439,467	^(b)
UniCredit SpA, Senior Notes		6.572	%		1/14/22		570,000		583,988	^(b)
Wachovia Capital Trust III, Junior Subordinated Bonds (the greater of 3 mo. USD LIBOR + 0.930% or 5.570%)		5.570	%		4/4/19		410,000		398,305	^(a)(c)
Wells Fargo & Co., Subordinated Notes		4.400	%		6/14/46		420,000		404,416
Wells Fargo & Co., Subordinated Notes		4.750	%		12/7/46		530,000		535,663

Total Banks									38,860,764

Capital Markets - 5.8%
Charles Schwab Corp., Senior Notes		3.850	%		5/21/25		230,000		238,477
CME Group Inc., Senior Notes		5.300	%		9/15/43		750,000		895,151
Credit Suisse Group AG, Junior Subordinated
Notes (7.250% to 9/12/25 then USD 5 year Swap Rate + 4.332%)		7.250	%		9/12/25		400,000		400,590	^(a)(b)(c)
Credit Suisse USA Inc., Senior Notes		7.125	%		7/15/32		70,000		90,319
Goldman Sachs Group Inc., Senior Notes		6.250	%		2/1/41		2,550,000		3,075,807
Goldman Sachs Group Inc., Senior Notes (3 mo. USD LIBOR + 1.053%)		2.908	%		6/5/23		1,100,000		1,080,398	^(a)
Goldman Sachs Group Inc., Subordinated Notes		5.150	%		5/22/45		70,000		70,570
Intercontinental Exchange Inc., Senior Notes		3.750	%		9/21/28		1,000,000		1,017,091
KKR Group Finance Co. III LLC, Senior Notes		5.125	%		6/1/44		1,300,000		1,282,780	^(b)
Morgan Stanley, Senior Notes		5.500	%		1/26/20		1,950,000		1,993,195
Morgan Stanley, Senior Notes		6.375	%		7/24/42		140,000		176,161
Raymond James Financial Inc., Senior Notes		4.950	%		7/15/46		150,000		150,521
State Street Corp., Senior Notes (4.141% to 12/3/28 then 3 mo. USD LIBOR + 1.030%)		4.141	%		12/3/29		720,000		761,201	^(a)

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
UBS AG Stamford, CT, Subordinated Notes		7.625	%		8/17/22		330,000	$	363,724
UBS Group Funding Switzerland AG, Junior Subordinated Notes (7.000% to 1/31/24 then USD 5 year Swap Rate + 4.344%)		7.000	%		1/31/24		920,000		928,740	^(a)(b)(c)

Total Capital Markets									12,524,725

Consumer Finance - 2.0%
American Express Co., Senior Notes		3.700	%		8/3/23		1,000,000		1,019,726
Navient Corp., Senior Notes		7.250	%		1/25/22		1,430,000		1,505,075
Navient Corp., Senior Notes		6.125	%		3/25/24		480,000		470,400
Synchrony Financial, Senior Notes		3.700	%		8/4/26		1,300,000		1,186,303

Total Consumer Finance									4,181,504

Diversified Financial Services - 0.9%
Carlyle Finance LLC, Senior Notes		5.650	%		9/15/48		170,000		165,329	^(b)
Carlyle Holdings II Finance LLC, Senior Notes		5.625	%		3/30/43		360,000		346,807	^(b)
DAE Funding LLC, Senior Notes		5.000	%		8/1/24		240,000		238,500	^(b)
ILFC E-Capital Trust I ((Highest of 3 mo. USD LIBOR, 10 year U.S. Treasury Constant Maturity Rate and 30 year U.S. Treasury Constant Maturity Rate) + 1.550%)		4.550	%		12/21/65		800,000		610,820	^(a)(b)
International Lease Finance Corp., Senior Notes		6.250	%		5/15/19		220,000		221,389
International Lease Finance Corp., Senior Notes		8.250	%		12/15/20		330,000		356,341

Total Diversified Financial Services									1,939,186

Insurance - 4.4%
American International Group Inc., Senior Notes		6.400	%		12/15/20		1,000,000		1,056,134
American International Group Inc., Senior Notes		4.750	%		4/1/48		80,000		75,661
Delphi Financial Group Inc., Senior Notes		7.875	%		1/31/20		290,000		301,762
Fidelity & Guaranty Life Holdings Inc., Senior Notes		5.500	%		5/1/25		360,000		355,950	^(b)
Harborwalk Funding Trust, Subordinated Notes (5.077% to 2/15/49 then 3 mo. USD LIBOR + 3.191%)		5.077	%		2/15/69		670,000		670,000	^(a)(b)(d)
Liberty Mutual Group Inc., Senior Notes (7.800% to 3/15/37 then 3 mo. USD LIBOR + 3.576%)		7.800	%		3/7/87		330,000		376,677	^(a)(b)
Liberty Mutual Insurance Co., Subordinated Notes		7.875	%		10/15/26		840,000		1,002,283	^(b)
Massachusetts Mutual Life Insurance Co., Subordinated Notes		4.900	%		4/1/77		420,000		426,645	^(b)
MetLife Inc., Junior Subordinated Notes (6.400% to 12/15/36 then 3 mo. USD LIBOR + 2.205%)		6.400	%		12/15/66		1,000,000		1,061,445	^(a)

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Insurance - (continued)
Nationwide Mutual Insurance Co., Subordinated Notes		9.375	%		8/15/39		520,000	$	794,110	^(b)
Teachers Insurance & Annuity Association of America, Subordinated Notes		6.850	%		12/16/39		1,050,000		1,385,729	^(b)
Teachers Insurance & Annuity Association of America, Subordinated Notes		4.900	%		9/15/44		660,000		705,156	^(b)
Travelers Cos. Inc., Senior Notes		6.250	%		6/15/37		400,000		505,507
Trinity Acquisition PLC, Senior Notes		3.500	%		9/15/21		626,000		625,477

Total Insurance									9,342,536

Thrifts & Mortgage Finance - 0.4%
Quicken Loans Inc., Senior Notes		5.750	%		5/1/25		770,000		763,840	^(b)

TOTAL FINANCIALS									67,612,555

HEALTH CARE - 10.2%
Biotechnology - 1.0%
Celgene Corp., Senior Notes		2.750	%		2/15/23		1,100,000		1,075,053
Celgene Corp., Senior Notes		5.000	%		8/15/45		400,000		395,276
Gilead Sciences Inc., Senior Notes		5.650	%		12/1/41		100,000		111,604
Gilead Sciences Inc., Senior Notes		4.500	%		2/1/45		500,000		483,062
Gilead Sciences Inc., Senior Notes		4.750	%		3/1/46		100,000		100,476

Total Biotechnology									2,165,471

Health Care Equipment & Supplies - 1.5%
Abbott Laboratories, Senior Notes		2.900	%		11/30/21		460,000		459,883
Abbott Laboratories, Senior Notes		4.900	%		11/30/46		1,040,000		1,138,461
Becton Dickinson and Co., Senior Notes		4.685	%		12/15/44		1,110,000		1,088,507
Becton Dickinson and Co., Senior Notes		4.669	%		6/6/47		450,000		446,425

Total Health Care Equipment & Supplies									3,133,276

Health Care Providers & Services - 6.0%
Anthem Inc., Senior Notes		4.375	%		12/1/47		630,000		602,022
BioScrip Inc., First Lien Notes (1 mo. USD LIBOR + 7.000%)		8.224	%		6/30/22		801,000		837,045	^(a)(e)(f)
Cigna Corp., Senior Notes		4.125	%		11/15/25		540,000		549,093	^(b)
Cigna Corp., Senior Notes		4.375	%		10/15/28		540,000		548,091	^(b)
Cigna Corp., Senior Notes		4.800	%		8/15/38		540,000		537,701	^(b)
CommonSpirit Health, Secured Notes		4.350	%		11/1/42		60,000		54,386
CVS Health Corp., Senior Notes		4.100	%		3/25/25		1,460,000		1,480,901
CVS Health Corp., Senior Notes		4.300	%		3/25/28		1,610,000		1,612,427
CVS Health Corp., Senior Notes		4.780	%		3/25/38		2,060,000		2,003,273
CVS Health Corp., Senior Notes		5.125	%		7/20/45		540,000		534,285
CVS Health Corp., Senior Notes		5.050	%		3/25/48		930,000		920,980

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
Dartmouth-Hitchcock Health, Secured Bonds		4.178	%		8/1/48		150,000	$	146,047
HCA Inc., Senior Secured Notes		5.500	%		6/15/47		350,000		364,133
Humana Inc., Senior Notes		4.800	%		3/15/47		420,000		428,663
Magellan Health Inc., Senior Notes		4.400	%		9/22/24		650,000		615,832
Orlando Health Obligated Group, Senior Notes		4.089	%		10/1/48		270,000		259,973
UnitedHealth Group Inc., Senior Notes		3.500	%		2/15/24		250,000		254,003
UnitedHealth Group Inc., Senior Notes		3.700	%		12/15/25		250,000		256,071
UnitedHealth Group Inc., Senior Notes		3.850	%		6/15/28		540,000		554,556
UnitedHealth Group Inc., Senior Notes		4.750	%		7/15/45		220,000		239,558

Total Health Care Providers & Services									12,799,040

Pharmaceuticals - 1.7%
Allergan Funding SCS, Senior Notes		4.550	%		3/15/35		790,000		737,943
Bausch Health Americas Inc., Senior Notes		8.500	%		1/31/27		120,000		124,950	^(b)(d)
Bausch Health Cos. Inc., First Lien Notes		5.750	%		8/15/27		140,000		141,575	^(b)(d)
Bausch Health Cos. Inc., Senior Notes		9.000	%		12/15/25		510,000		548,250	^(b)
Pfizer Inc., Senior Notes		7.200	%		3/15/39		560,000		791,286
Wyeth LLC, Senior Notes		5.950	%		4/1/37		1,100,000		1,359,368
Zoetis Inc., Senior Notes		4.700	%		2/1/43		40,000		40,846

Total Pharmaceuticals									3,744,218

TOTAL HEALTH CARE									21,842,005

INDUSTRIALS - 5.7%
Aerospace & Defense - 2.3%
Avolon Holdings Funding Ltd., Senior Notes		5.125	%		10/1/23		330,000		334,125	^(b)
Boeing Co., Senior Notes		2.800	%		3/1/24		500,000		496,109
Hexcel Corp., Senior Notes		3.950	%		2/15/27		1,000,000		977,015
Huntington Ingalls Industries Inc., Senior Notes		3.483	%		12/1/27		320,000		303,776
L3 Technologies Inc., Senior Notes		4.400	%		6/15/28		700,000		719,732
Lockheed Martin Corp., Senior Notes		4.500	%		5/15/36		50,000		52,587
Lockheed Martin Corp., Senior Notes		4.700	%		5/15/46		200,000		214,554
Northrop Grumman Systems Corp., Senior Notes		7.875	%		3/1/26		1,390,000		1,713,564
United Technologies Corp., Senior Notes		4.625	%		11/16/48		180,000		181,608

Total Aerospace & Defense									4,993,070

Air Freight & Logistics - 0.4%
United Parcel Service, Inc., Senior Notes		6.200	%		1/15/38		700,000		871,818

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Airlines - 0.7%
American Airlines Pass Through Trust		5.600	%		7/15/20		245,356	$	248,717	^(b)
Continental Airlines Pass Through Trust, Senior Secured Notes		7.250	%		11/10/19		476,725		487,785
Continental Airlines Pass Through Trust, Senior Secured Notes		6.250	%		4/11/20		128,342		130,620
Delta Air Lines Pass Through Trust, Certificates		8.021	%		8/10/22		76,334		84,002
Delta Air Lines Pass Through Trust, Certificates Senior Secured Notes		7.750	%		12/17/19		190,872		196,590
US Airways Pass Through Trust, Senior Secured Notes		5.900	%		10/1/24		399,565		427,275

Total Airlines									1,574,989

Commercial Services & Supplies - 0.9%
Republic Services Inc., Senior Notes		5.500	%		9/15/19		220,000		222,946
Waste Connections Inc., Senior Notes		4.250	%		12/1/28		750,000		775,295
Waste Management Holdings Inc., Senior Notes		7.100	%		8/1/26		230,000		278,210
Waste Management Inc., Senior Notes		7.750	%		5/15/32		500,000		672,680

Total Commercial Services & Supplies									1,949,131

Industrial Conglomerates - 0.8%
General Electric Co., Senior Notes		6.750	%		3/15/32		330,000		378,260
General Electric Co., Senior Notes		6.875	%		1/10/39		1,098,000		1,273,599

Total Industrial Conglomerates									1,651,859

Machinery - 0.2%
Caterpillar Inc., Senior Notes		4.750	%		5/15/64		360,000		378,582

Road & Rail - 0.2%
Union Pacific Corp., Senior Notes		4.375	%		11/15/65		530,000		482,524

Trading Companies & Distributors - 0.2%
Aviation Capital Group LLC, Senior Notes		4.125	%		8/1/25		340,000		332,672	^(b)

TOTAL INDUSTRIALS									12,234,645

INFORMATION TECHNOLOGY - 1.8%
Communications Equipment - 0.4%
Harris Corp., Senior Notes		4.854	%		4/27/35		430,000		444,367
Harris Corp., Senior Notes		5.054	%		4/27/45		340,000		361,998

Total Communications Equipment									806,365

Semiconductors & Semiconductor Equipment - 0.1%
Intel Corp., Senior Notes		4.900	%		7/29/45		220,000		248,222
QUALCOMM Inc., Senior Notes		4.300	%		5/20/47		70,000		62,897

Total Semiconductors & Semiconductor Equipment									311,119

Software - 0.8%
Microsoft Corp., Senior Notes		4.250	%		2/6/47		1,520,000		1,615,223
salesforce.com Inc., Senior Notes		3.700	%		4/11/28		120,000		123,106

Total Software									1,738,329

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Technology Hardware, Storage & Peripherals - 0.5%
Dell International LLC/EMC Corp., Senior Secured Notes		4.420	%		6/15/21		1,010,000	$	1,028,912	^(b)

TOTAL INFORMATION TECHNOLOGY									3,884,725

MATERIALS - 3.5%
Metals & Mining - 3.5%
Alcoa Nederland Holding BV, Senior Notes		6.750	%		9/30/24		400,000		424,500	^(b)
Barrick Gold Corp., Senior Notes		5.250	%		4/1/42		700,000		733,140
BHP Billiton Finance USA Ltd., Senior Notes (6.750% to 10/20/25 then USD 5 year ICE Swap Rate + 5.093%)		6.750	%		10/19/75		780,000		856,772	^(a)(b)
First Quantum Minerals Ltd., Senior Notes		7.000	%		2/15/21		420,000		427,718	^(b)
Freeport-McMoRan Inc., Senior Notes		3.550	%		3/1/22		100,000		99,125
Freeport-McMoRan Inc., Senior Notes		6.875	%		2/15/23		950,000		1,007,000
Glencore Funding LLC, Senior Notes		4.000	%		3/27/27		910,000		867,330	^(b)
Hudbay Minerals Inc., Senior Notes		7.250	%		1/15/23		60,000		62,088	^(b)
Northwest Acquisitions ULC/Dominion Finco Inc., Secured Notes		7.125	%		11/1/22		600,000		555,000	^(b)
Vale Overseas Ltd., Senior Notes		4.375	%		1/11/22		2,100,000		2,112,600
Yamana Gold Inc., Senior Notes		4.625	%		12/15/27		230,000		217,087

TOTAL MATERIALS									7,362,360

REAL ESTATE - 1.9%
Equity Real Estate Investment Trusts (REITs) - 1.6%
MPT Operating Partnership LP/MPT Finance
Corp., Senior Notes		5.000	%		10/15/27		400,000		398,000
Ventas Realty LP, Senior Notes		4.400	%		1/15/29		540,000		551,071
Vornado Realty LP, Senior Notes		3.500	%		1/15/25		1,000,000		967,788
Welltower Inc., Senior Notes		3.950	%		9/1/23		1,050,000		1,070,175
Welltower Inc., Senior Notes		4.125	%		3/15/29		510,000		508,557

Total Equity Real Estate Investment Trusts (REITs)									3,495,591

Real Estate Management & Development - 0.3%
Security Capital Group Inc., Senior Notes		7.700	%		6/15/28		460,000		531,945

TOTAL REAL ESTATE									4,027,536

UTILITIES - 4.4%
Electric Utilities - 4.4%
Berkshire Hathaway Energy Co., Senior Notes		6.125	%		4/1/36		1,000,000		1,216,628
CenterPoint Energy Houston Electric LLC, Senior Secured Bonds		4.500	%		4/1/44		530,000		560,803
Commonwealth Edison Co., First Mortgage Bonds		6.450	%		1/15/38		600,000		768,273
FirstEnergy Corp., Senior Notes		3.900	%		7/15/27		480,000		475,955

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Electric Utilities - (continued)
FirstEnergy Corp., Senior Notes		7.375	%		11/15/31		3,040,000		$	3,923,081
Jersey Central Power & Light Co., Senior Notes		4.300	%		1/15/26		230,000			235,066	^(b)
MidAmerican Energy Co., Senior Notes		3.650	%		4/15/29		240,000			243,153
Pacific Gas & Electric Co., Senior Notes		3.300	%		12/1/27		1,000,000			830,000	*^(g)
Southern California Edison Co., First Mortgage Bonds		4.125	%		3/1/48		480,000			443,152
Virginia Electric & Power Co., Senior Notes		8.875	%		11/15/38		500,000			763,561

TOTAL UTILITIES										9,459,672

TOTAL CORPORATE BONDS & NOTES (Cost - $184,574,994)										195,415,071

SOVEREIGN BONDS - 2.8%
Argentina - 1.9%
Argentina POM Politica Monetaria, Bonds (Argentina Central Bank 7 Day Repo Reference Rate)		53.666	%		6/21/20		8,960,000	^ARS		249,194	^(a)
Argentine Bonos del Tesoro, Bonds		18.200	%		10/3/21		650,000	^ARS		13,416
Argentine Republic Government International Bond, Senior Notes		5.875	%		1/11/28		930,000			728,888
Argentine Republic Government International Bond, Senior Notes		7.625	%		4/22/46		150,000			120,656
Argentine Republic Government International Bond, Senior Notes		6.875	%		1/11/48		260,000			196,433
Provincia de Buenos Aires, Senior Notes		9.125	%		3/16/24		1,930,000			1,746,650	^(b)
Provincia de Cordoba, Senior Notes		7.450	%		9/1/24		1,200,000			1,023,600	^(b)

Total Argentina										4,078,837

Ecuador - 0.3%
Ecuador Government International Bond, Senior Notes		10.750	%		3/28/22		310,000			338,660	^(b)
Ecuador Government International Bond, Senior Notes		10.750	%		1/31/29		200,000			218,840	^(b)

Total Ecuador										557,500

Egypt - 0.4%
Egypt Government International Bond, Senior Notes		7.600	%		3/1/29		400,000			410,520	^(b)
Egypt Government International Bond, Senior Notes		8.700	%		3/1/49		360,000			374,225	^(b)

Total Egypt										784,745

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Nigeria - 0.2%
Nigeria Government International Bond, Senior Notes		7.143	%		2/23/30		260,000	$	259,895	^(b)
Nigeria Government International Bond, Senior Notes		7.696	%		2/23/38		220,000		217,928	^(b)

Total Nigeria									477,823

TOTAL SOVEREIGN BONDS (Cost - $6,875,944)									5,898,905


						SHARES
PREFERRED STOCKS - 1.3%
FINANCIALS - 1.3%
Banks - 1.0%
GMAC Capital Trust I (3 mo. USD LIBOR + 5.785%)		8.469	%				85,800		2,229,942	^(a)

Capital Markets - 0.0%
Carlyle Group LP		5.875	%				3,725		82,471

Diversified Financial Services - 0.2%
Citigroup Capital XIII (3 mo. USD LIBOR + 6.370%)		9.121	%				13,450		359,384	^(a)

Insurance - 0.1%
Delphi Financial Group Inc. (3 mo. USD LIBOR + 3.190%)		5.874	%				9,325		215,641	^(a)

TOTAL PREFERRED STOCKS (Cost - $2,739,074)									2,887,438


						FACE AMOUNT†
U.S. GOVERNMENT & AGENCY OBLIGATIONS - 0.8%
U.S. Government Obligations - 0.8%
U.S. Treasury Bonds		3.375	%		11/15/48		530,000		560,340
U.S. Treasury Notes		2.625	%		2/15/29		1,155,000		1,146,360

TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost - $1,714,082)									1,706,700

MUNICIPAL BONDS - 0.6%
California - 0.2%
Morongo Band of Mission Indians, CA, Revenue, Tribal Economic Development, Series A		7.000	%		10/1/39		500,000		513,030	^(b)

Florida - 0.1%
Sumter Landing, FL, Community Development District Recreational Revenue, Taxable Community Development District		4.172	%		10/1/47		260,000		254,218

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019


SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Illinois - 0.3%
Illinois State, GO, Taxable, Build America Bonds, Series 2010-3		6.725	%		4/1/35		530,000	$	560,480

TOTAL MUNICIPAL BONDS (Cost - $1,357,760)									1,327,728

TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $197,261,854)									207,235,842

						SHARES

SHORT-TERM INVESTMENTS - 2.4%
Dreyfus Government Cash Management, Institutional Shares (Cost - $5,091,918)		2.374	%				5,091,918		5,091,918

TOTAL INVESTMENTS - 99.1% (Cost - $202,353,772)									212,327,760
Other Assets in Excess of Liabilities - 0.9%									2,031,986

TOTAL NET ASSETS - 100.0%								$	214,359,746

†	Face amount denominated in U.S. dollars, unless otherwise noted.

*	Non-income producing security.

(a)

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.

(b)

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.

(c)	Security has no maturity date. The date shown represents the next call date.

(d)	Securities traded on a when-issued or delayed delivery basis.

(e)	Security is valued using significant unobservable inputs (Note 1).

(f)	Restricted security (Note 2).

(g)	The coupon payment on these securities is currently in default as of February 28, 2019.

Abbreviations used in this schedule:


ARS		— Argentine Peso
GO		— General Obligation
ICE		— Intercontinental Exchange
LIBOR		— London Interbank Offered Rate
USD		— United States Dollar

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019

At February 28, 2019, the Fund had the following open futures contracts:


	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy:
U.S. Treasury 2-Year Notes		37		6/19	$	7,855,842	$	7,851,227	$	(4,615	)
U.S. Treasury 5-Year Notes		14		6/19		1,606,384		1,603,875		(2,509	)
U.S. Treasury Ultra Long-Term Bonds		10		6/19		1,616,492		1,595,937		(20,555	)

										(27,679	)

Contracts to Sell:
U.S. Treasury 10-Year Notes		64		6/19		7,815,389		7,808,000		7,389
U.S. Treasury Long-Term Bonds		72		6/19		10,476,273		10,401,750		74,523

										81,912

Net unrealized appreciation on open futures contracts									$	54,233

At February 28, 2019, the Fund had the following open forward foreign currency contracts:

Currency
Purchased

Currency
Sold

Counterparty

Settlement
Date

Unrealized
Appreciation

GBP

1,215,000

USD

1,557,054

Goldman Sachs Group Inc.

4/17/19

58,542

Abbreviations used in this table:


GBP		— British Pound
USD		— United States Dollar

At February 28, 2019, the Fund had the following open swap contracts:


OTC CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - BUY PROTECTION¹
SWAP COUNTERPARTY (REFERENCE ENTITY)	NOTIONAL AMOUNT²		TERMINATION DATE		IMPLIED CREDIT SPREAD AT FEBRUARY 28, 2019³	PERIODIC PAYMENTS MADE BY THE FUND†	MARKET VALUE			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED DEPRECIATION
Goldman Sachs Group Inc. (PPG Industries Inc., 3.600%, due 11/15/20)	$	856,423		3/20/19	0.105%	1.000% quarterly	$	(423	)	$	(237	)	$	(186	)

See Notes to Schedule of Investments.

WESTERN ASSET INVESTMENT GRADE DEFINED OPPORTUNITY TRUST INC.


Schedule of investments (unaudited) (cont’d)		February 28, 2019

If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or the underlying securities comprising the referenced index or (ii) receive a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or the underlying securities comprising the referenced index.

²	The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

Implied credit spreads, utilized in determining the market value of credit default swap agreements on corporate or sovereign issues as of period end, serve as an indicator of the current status of the payment/performance risk and represent the likelihood or risk of default for the credit derivative. The implied credit spread of a particular referenced entity reflects the cost of buying/selling protection and may include upfront payments required to be made to enter into the agreement. Wider credit spreads represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement. A credit spread identified as “Defaulted” indicates a credit event has occurred for the referenced entity or obligation.

†	Percentage shown is an annual percentage rate.

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.

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

Western Asset Investment Grade Defined Opportunity Trust Inc. (the “Fund”) was incorporated in Maryland on April 24, 2009 and is registered as a non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended (the “1940 Act”). The Fund’s primary investment objective is to provide current income and then to liquidate and distribute substantially all of the Fund’s net assets to stockholders on or about December 2, 2024. As a secondary investment objective, the Fund will seek capital appreciation. There can be no assurance the Fund will achieve its investment objectives. The Fund seeks to achieve its investment objectives by investing, under normal market conditions, at least 80% of its net assets in investment grade corporate fixed-income securities of varying maturities.

The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”).

(a) Investment valuation. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. 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. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund 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 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.

The Board of Directors is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Legg Mason North Atlantic Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee, pursuant to the policies

Notes to Schedule of Investments (unaudited) (continued)

adopted by the Board of Directors, is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to 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.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

•

Level 1 – quoted prices in active markets for identical investments

•

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

•

Level 3 – significant unobservable inputs (including the 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.

Notes to Schedule of Investments (unaudited) (continued)

The following is a summary of the inputs used in valuing the Fund’s assets and liabilities 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†:
Corporate Bonds & Notes:
Health Care		—	$	21,004,960	$	837,045	$	21,842,005
Other Corporate Bonds & Notes		—		173,573,066		—		173,573,066
Sovereign Bonds		—		5,898,905		—		5,898,905
Preferred Stocks:
Financials	$	2,671,797		215,641		—		2,887,438
U.S. Government & Agency Obligations		—		1,706,700		—		1,706,700
Municipal Bonds		—		1,327,728		—		1,327,728

Total Long-Term Investments		2,671,797		203,727,000		837,045		207,235,842

Short-Term Investments†		5,091,918		—		—		5,091,918

Total Investments	$	7,763,715	$	203,727,000	$	837,045	$	212,327,760

Other Financial Instruments:
Futures Contracts	$	81,912		—		—	$	81,912
Forward Foreign Currency Contracts		—	$	58,542		—		58,542

Total Other Financial Instruments	$	81,912	$	58,542		—	$	140,454

Total	$	7,845,627	$	203,785,542	$	837,045	$	212,468,214


LIABILITIES
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Futures Contracts	$	27,679		—		—	$	27,679
OTC Credit Default Swaps on Corporate Issues - Buy Protection‡		—	$	423		—		423

Total	$	27,679	$	423		—	$	28,102

†	See Schedule of Investments for additional detailed categorizations.

‡	Value includes any premium paid or received with respect to swap contracts.

Notes to Schedule of Investments (unaudited) (continued)

2. Restricted securities

The following Fund investment is restricted as to resale.


Security	Face Amount		Acquisition Date		Cost		Value at 2/28/2019		Value Per Unit		Percent of Net Assets
BioScrip Inc., First Lien Notes, 8.224%, due 6/30/22	$	801,000		6/17	$	795,292	$	837,045	$	104.50		0.39	%

ITEM 2.

CONTROLS AND PROCEDURES.

(a)

The registrant’s principal executive officer and principal financial officer have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a- 3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the disclosure controls and procedures required by Rule 30a-3(b) under the 1940 Act and 15d-15(b) under the Securities Exchange Act of 1934.

(b)

There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are likely to materially affect the registrant’s internal control over financial reporting.

ITEM 3.

EXHIBITS.

Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940, as amended, are attached hereto.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Western Asset Investment Grade Defined Opportunity Trust Inc.


By		/s/ JANE TRUST
		Jane Trust
		Chief Executive Officer

Date:		April 23, 2019

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.



By		/s/ JANE TRUST
		Jane Trust
		Chief Executive Officer

Date:		April 23, 2019

By		/s/ RICHARD F. SENNETT
		Richard F. Sennett
		Principal Financial Officer

Date:		April 23, 2019