Class L - Without Sales Charge (NAV) (%)
Money Funds
LWPXX Western Asset Institutional Government Reserves
Popular Documents
Overview
Fund Facts
Fund description
Seeks maximum current income to the extent consistent with preservation of capital and the maintenance of liquidity. Invests exclusively in short-term U.S. government obligations. The portfolio is diversified among a wide array of U.S. Treasury securities and securities issued or guaranteed by the U.S. government or its agencies, authorities, instrumentalities or sponsored entities and in repurchase agreements.
- Fund Inception Date
- 06/16/1995
- Dividend Frequency, if any
- Daily
- Total Net Assets
As of 09/30/2026 (Updated Monthly) - $27.57 Billion
- Shareholder Net Flow
4 As of 10/28/2026 - $2.96 Million
Sales Charges, Expenses & Fees
As of 01/01/2026- Gross Expense Ratio
- 0.31%
- Net Expense Ratio
5 - 0.20%
- Maximum Initial Charge
- —
- CDSC
- N/A
- 12b-1 Fee
- 0.10%
Identifiers
- Ticker
- LWPXX
- Fund Number
- 4513
- CUSIP Code
- 52470G783
Average Annual Total Returns As of 09/30/2026
Class L
- 3.68%1 Year
- 4.46%3 Years
- 3.70%5 Years
- 2.33%10 Years
- 2.31%Since Inception
08/25/2016
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Top Sectors
As of 09/30/2026 Fixed Income as a % of Total (Updated Monthly)
U.S. Treasury Debt32.34% | |
U.S. Government Agency Debt (Coupon-paying Note)24.77% | |
U.S. Government Agency Repurchase Agreement22.81% | |
U.S. Treasury Repurchase Agreement13.28% | |
U.S. Government Agency Debt (No-coupon Discount Note)4.33% |
Additional Fund Info
- Share Class Inception Date
- 08/25/2016
- Investment Style
- Money Market
- Lipper Classification
- Instl U.S. Government Money Market Funds
- Morningstar Category
9 - Money Market-Taxable
Manager
About the Team
Western Asset Management is one of the world's leading global fixed income managers. Founded in 1971, the firm is known for team management and proprietary research, supported by robust risk management and a long-term fundamental value approach.
Performance
Calendar Year Returns
As of 09/30/2026
Class L - With Sales Charge (POP) (%)
FTSE 3-Month U.S. Treasury Bill Index (%)
Performance data quoted represents past performance, which does not guarantee future results. Current performance may be lower or higher than the figures shown. Principal value and investment returns will fluctuate, and investors' shares, when redeemed, may be worth more or less than the original cost. Performance would have been lower if fees had not been waived in various periods. Total returns assume the reinvestment of all distributions and the deduction of all Fund expenses. Returns with sales charge reflect a deduction of the stated maximum sales charge. Returns without sales charge would have been lower had sales charges been reflected. An investor cannot invest directly in an index, and unmanaged index returns do not reflect any fees, expenses or sales charges. Returns for periods of less than one year are not annualized.
Portfolio
Portfolio Statistics
As of 10/28/2026 (Updated Daily)
Weighted Average Maturity
- 29 Days
As of 10/28/2026 (Updated Daily)
09/30/2026
31 Days08/31/2026
37 Days07/31/2026
41 Days06/30/2026
42 Days05/31/2026
44 Days04/30/2026
40 Days- 102 Days
As of 10/28/2026 (Updated Daily)
09/30/2026
109 Days08/31/2026
109 Days07/31/2026
109 Days06/30/2026
112 Days05/31/2026
106 Days04/30/2026
108 Days Sector Allocation
As of 09/30/2026 Fixed Income as a % of Total (Updated Monthly)
| Sector | % of Total |
|---|---|
U.S. Treasury Debt | 32.34% |
U.S. Government Agency Debt (Coupon-paying Note) | 24.77% |
U.S. Government Agency Repurchase Agreement | 22.81% |
U.S. Treasury Repurchase Agreement | 13.28% |
U.S. Government Agency Debt (No-coupon Discount Note) | 4.33% |
Holdings
As of 09/30/2026 (Updated Monthly)
FIXED INCOME CLEARING CORP / BNY
FIXED INCOME CLEARING CORP / STATE STREET
WELLS FARGO SECURITIES LLC
UNITED STATES TREASURY FLOATING RATE NOTE
NOMURA SECURITIES INTERNATIONAL INC
UNITED STATES TREASURY FLOATING RATE NOTE
UNITED STATES TREASURY FLOATING RATE NOTE
JP MORGAN SECURITIES, LLC
FIXED INCOME CLEARING CORP - NORTHERN TRUST
SOCIETE GENERALE, NEW YORK BRANCH
IMPORTANT HOLDINGS INFORMATION: The information shown above relates to Government Portfolio ("the Portfolio"), the registered investment company in which the Fund invests all of its investable assets. The Fund utilizes a master/feeder structure by investing all of its assets in a master portfolio. Assets are reported at the master portfolio level.
The Portfolio's investments are valued at amortized cost, which approximates market value, in accordance with Rule 2a-7 under the Investment Company Act of 1940 (the “1940 Act”). The amortized cost method of valuation involves valuing portfolio securities at their cost and thereafter assuming a constant amortization to maturity of any discount or premium.
The Portfolio's use of amortized cost is subject to its compliance with certain conditions as specified by Rule 2a-7 under the 1940 Act. The Portfolio continues to meet the requirements of Rule 2a-7 that permit it to utilize amortized cost to value its securities.
Portfolio holdings are subject to change at any time. Percentages are based on total investments. This information is provided for information purposes only and should not be construed as a recommendation to purchase or sell any security.
Distributions & Tax
- Distribution Frequency
- DailyThis fund is an ex-Dividend fund
- Capital Gain Distributions
- December
Rates and Yields
Distributions Per Share
12/14/2026
09/30/2026
08/31/2026
07/31/2026
06/30/2026
05/29/2026
04/30/2026
03/31/2026
02/27/2026
01/30/2026
Pricing
Documents
Fund Literature
Factsheet - Western Asset Institutional Government Reserves - Class L Shares
Regulatory Documents
Prospectus - Western Asset Institutional Government Reserves Class L
Summary Prospectus - Western Asset Institutional Government Reserves Class L
Annual Report - Western Asset Institutional Government Reserves - Class L
Annual Financial Statements and Other Information - Western Asset Institutional Government Reserves
Semi-Annual Report - Western Asset Institutional Government Reserves - Class L
Semi-Annual Financial Statements and Other Information - Western Asset Institutional Government Reserves
Statement of Additional Information - Legg Mason Partners Money Market Trust Book 13
Western Asset Institutional Money Market Application (Institutional Shares)
Western Asset Institutional Money Market Application (Investor Shares)
Western Asset Premium Money Market Application
Risks
You could lose money by investing in the fund. Although the fund seeks to preserve the value of your investment at $1.00 per share, it cannot guarantee it will do so. An investment in the fund is not a bank account and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. The fund’s sponsor is not required to reimburse the fund for losses, and you should not expect that the sponsor will provide financial support to the fund at any time, including during periods of market stress. Although the fund invests in U.S. government obligations, an investment in the fund is neither insured nor guaranteed by the U.S. government.
All investments involve risk, including loss of principal. The fund's yield may be affected by changes in interest rates and changes in credit ratings. These and other risks are discussed in the fund’s prospectus.
Important Information
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.
Most funds offer multiple share classes. Share classes are subject to different fees and expenses, which will affect their performance.
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Certain share classes are only offered to eligible investors as stated in the prospectus. Different minimums may apply to clients of certain service agents. All classes of shares are not available through all distribution channels. See the Fund's prospectus for additional information.
Important data provider notices and terms available at www.franklintempletondatasources.com.
Performance data quoted represents past performance, which does not guarantee future results.
CFA® and Chartered Financial Analyst® are trademarks owned by CFA Institute.
Indexes are unmanaged and one cannot invest directly in an index. They do not reflect any fees, expenses or sales charges.
Investors should carefully consider a fund's investment goals, risks, sales charges and expenses before investing. The prospectus contains this and other information. Please read the prospectus carefully before investing or sending money.
FTSE 3-Month U.S. Treasury Bill Index tracks the performance of three-month U.S. Treasury bills.
Source: FTSE.
All Putnam-named funds and Franklin Retirement Advantage, Franklin Dynamic Asset Allocation, and Franklin Multi-Asset Income-named funds and Royce funds are not exchangeable for other funds distributed by Franklin Distributors, LLC.
Franklin Distributors, LLC. Member FINRA, SIPC. All entities mentioned are Franklin Templeton affiliated companies. Investment Products: NOT FDIC INSURED | NO BANK GUARANTEE | MAY LOSE VALUE.
Fund filings of the Monthly Schedule of Portfolio Holdings of Money Market Funds are available at Form N-MFP. Reports and other information about the funds are available on the EDGAR Database on the SEC's Internet site at www.sec.gov.