# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001752724-25-205078
**Filing Date:** 2025-8
**Character Count:** 202832
**Document Hash:** 303239e4a642d83e9bb6897b79f37ebd
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-205078.hdr.sgml**: 20250826

**ACCESSION NUMBER**: 0001752724-25-205078

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250826

**DATE AS OF CHANGE**: 20250826

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iSHARES TRUST
- **CENTRAL INDEX KEY:** 0001100663

**ORGANIZATION NAME:**
- **EIN:** 943351276
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 251255604

**BUSINESS ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105
- **BUSINESS PHONE:** (415) 670-2000

**MAIL ADDRESS:**
- **STREET 1:** 400 HOWARD STREET
- **CITY:** SAN FRANCISCO
- **STATE:** CA
- **ZIP:** 94105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** ISHARES TRUST
- **DATE OF NAME CHANGE:** 19991213

## Series and Classes Contracts Data

### iShares Preferred and Income Securities ETF (Series ID: S000013499)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000036528 | iShares Preferred and Income Securities ETF | PFF             |

## Nport-Ex

Schedule of Investments (unaudited)

June 30, 2025

**iShares® Preferred and Income Securities ETF**

**(Percentages shown are based on Net Assets)**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <br>

---

| | | |
|:---|:---|:---|
| *Security* | <br>*Shares*<br>| *Value* |
| **Preferred Securities** | **Preferred Securities** | **Preferred Securities** |
| **Preferred Stocks — 98.8%** | **Preferred Stocks — 98.8%** | **Preferred Stocks — 98.8%** |
| **Aerospace & Defense — 4.5%** | **Aerospace & Defense — 4.5%** | **Aerospace & Defense — 4.5%** |
| Boeing Co. (The), 6.00%<sup>(a)</sup> | 9002791 | $612189788 |
| **Automobiles — 1.1%** | **Automobiles — 1.1%** | **Automobiles — 1.1%** |
| Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00% | 2512422 | 52233254 |
| &nbsp;&nbsp;&nbsp; 6.50%, NVS | 1881573 | 42147235 |
| &nbsp;&nbsp;&nbsp; 6.20% | 2351937 | 49343638 |
|  |  | 143724127 |
| **Banks — 24.6%** | **Banks — 24.6%** | **Banks — 24.6%** |
| Associated Banc-Corp |  |  |
| &nbsp;&nbsp;&nbsp; 6.63% | 951560 | 22390207 |
| &nbsp;&nbsp;&nbsp; Series E, 5.88%, NVS<sup>(b)</sup> | 317204 | 6537574 |
| &nbsp;&nbsp;&nbsp; Series F, 5.63%, NVS<sup>(b)</sup> | 336395 | 6630345 |
| &nbsp;&nbsp;&nbsp; Atlantic Union Bankshares Corp., Series A, <br> 6.88%, NVS<sup>(b)</sup><br>| 546029 | 13186600 |
| Banc of California, Inc., Series F, 7.75%, NVS<sup>(b)</sup> | 1627997 | 39234728 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 02, (3-mo. CME Term SOFR + 0.912%), <br> 5.24%, NVS<sup>(b)(c)</sup><br>| 562589 | 11257406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 4, (3-mo. CME Term SOFR + 1.012%), <br> 5.34%, NVS<sup>(b)(c)(d)</sup><br>| 385821 | 8353025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 5, (3-mo. CME Term SOFR + 0.762%), <br> 5.08%, NVS<sup>(b)(c)</sup><br>| 771777 | 15605331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E, (3-mo. CME Term SOFR + 0.612%), <br> 4.94%, NVS<sup>(b)(c)</sup><br>| 581713 | 12565001 |
| &nbsp;&nbsp;&nbsp; Series GG, 6.00%<sup>(b)</sup> | 2645236 | 65813472 |
| &nbsp;&nbsp;&nbsp; Series HH, 5.88%, NVS<sup>(b)</sup> | 1657834 | 40633511 |
| &nbsp;&nbsp;&nbsp; Series K\*, 6.45% | 2057201 | 51738605 |
| &nbsp;&nbsp;&nbsp; Series KK, 5.38%, NVS<sup>(b)</sup> | 2773255 | 60512424 |
| &nbsp;&nbsp;&nbsp; Series L, 7.25%, NVS<sup>(a)(b)</sup> | 152658 | 185174154 |
| &nbsp;&nbsp;&nbsp; Series LL, 5.00%, NVS<sup>(b)</sup> | 2550387 | 51798360 |
| &nbsp;&nbsp;&nbsp; Series NN, 4.38%, NVS<sup>(b)</sup> | 2095693 | 37638646 |
| &nbsp;&nbsp;&nbsp; Series PP, 4.13%, NVS<sup>(b)</sup> | 1825368 | 30994749 |
| &nbsp;&nbsp;&nbsp; Series QQ, 4.25%, NVS<sup>(b)</sup> | 2542303 | 43981842 |
| &nbsp;&nbsp;&nbsp; Series SS, 4.75%, NVS<sup>(b)</sup> | 1373386 | 26726092 |
| Bank of Hawaii Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%<sup>(b)</sup> | 522889 | 13668318 |
| &nbsp;&nbsp;&nbsp; Series A, 4.38%, NVS<sup>(b)</sup> | 587374 | 9321625 |
| Bank OZK, Series A, 4.63%, NVS<sup>(b)</sup> | 1134596 | 18323725 |
| Cadence Bank, Series A, 5.50%, NVS<sup>(b)</sup> | 547188 | 11195466 |
| Citizens Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, NVS<sup>(b)</sup> | 1268783 | 32912231 |
| &nbsp;&nbsp;&nbsp; Series E, 5.00%, NVS<sup>(b)</sup> | 1427384 | 26763450 |
| &nbsp;&nbsp;&nbsp; ConnectOne Bancorp, Inc., Series A, 5.25%, <br> NVS<sup>(b)</sup><br>| 372856 | 8430274 |
| &nbsp;&nbsp;&nbsp; Cullen/Frost Bankers, Inc., Series B, 4.45%, <br> NVS<sup>(b)</sup><br>| 475818 | 8293508 |
| &nbsp;&nbsp;&nbsp; Dime Community Bancshares, Inc., 5.50%, <br> NVS<sup>(b)</sup><br>| 420244 | 8026660 |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.00%, NVS<sup>(b)(d)</sup> | 634339 | 15312943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, (3-mo. CME Term SOFR + 3.972%), <br> 8.30%, NVS<sup>(b)(c)</sup><br>| 1427384 | 35841612 |
| &nbsp;&nbsp;&nbsp; Series K, 4.95%, NVS<sup>(b)</sup> | 792950 | 15589397 |
| &nbsp;&nbsp;&nbsp; First Busey Corp., Series B, 8.25%, Non-Voting <br> Shares<sup>(b)</sup><br>| 701579 |  |
| First Citizens BancShares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.38%, NVS<sup>(b)</sup> | 1094301 | 23724446 |
| &nbsp;&nbsp;&nbsp; Series C, 5.63%, NVS<sup>(b)</sup> | 634339 | 14577110 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| First Horizon Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series E, 6.50%, NVS<sup>(b)</sup> | 475818 | $11300678 |
| &nbsp;&nbsp;&nbsp; Series F, 4.70%<sup>(b)</sup> | 475812 | 8236306 |
| &nbsp;&nbsp;&nbsp; Flagstar Financial, Inc., Series A., 6.38%, <br> NVS<sup>(b)(d)</sup><br>| 1633522 | 33666888 |
| Fulton Financial Corp., Series A, 5.13%, NVS<sup>(b)</sup> | 633794 | 11471671 |
| Hancock Whitney Corp., 6.25% | 547188 | 12738537 |
| Huntington Bancshares, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.70%, NVS<sup>(b)</sup> | 555075 | 12289361 |
| &nbsp;&nbsp;&nbsp; Series H, 4.50%, NVS<sup>(b)</sup> | 1585995 | 27850072 |
| &nbsp;&nbsp;&nbsp; Series J, 6.88%, NVS<sup>(b)</sup> | 1030996 | 25475911 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp; Series DD, 5.75%, NVS<sup>(b)</sup> | 5299486 | 130208371 |
| &nbsp;&nbsp;&nbsp; Series EE, 6.00%, NVS<sup>(b)</sup> | 5760798 | 145229718 |
| &nbsp;&nbsp;&nbsp; Series GG, 4.75%, NVS<sup>(b)</sup> | 2734111 | 54900949 |
| &nbsp;&nbsp;&nbsp; Series JJ, 4.55%, NVS<sup>(b)</sup> | 4629301 | 88465942 |
| &nbsp;&nbsp;&nbsp; Series LL, 4.63%, NVS<sup>(b)</sup> | 5708116 | 111593668 |
| &nbsp;&nbsp;&nbsp; Series MM, 4.20%, NVS<sup>(b)</sup> | 6180960 | 110700994 |
| KeyCorp |  |  |
| &nbsp;&nbsp;&nbsp; 6.20%, NVS<sup>(b)</sup> | 1903134 | 46036811 |
| &nbsp;&nbsp;&nbsp; Series E, 6.13%, NVS<sup>(b)</sup> | 1585996 | 38698302 |
| &nbsp;&nbsp;&nbsp; Series F, 5.65%, NVS<sup>(b)</sup> | 1348040 | 28511046 |
| &nbsp;&nbsp;&nbsp; Series G, 5.63%, NVS<sup>(b)</sup> | 1427384 | 30374732 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series H, 5.63%, NVS<sup>(b)</sup> | 792960 | 20212550 |
| &nbsp;&nbsp;&nbsp; Series J, 7.50%, NVS<sup>(b)</sup> | 2378957 | 62328673 |
| Midland States Bancorp, Inc., 7.75%, NVS<sup>(b)</sup> | 364733 | 8071541 |
| &nbsp;&nbsp;&nbsp; New York Community Capital Trust V, 6.00%, <br> NVS<sup>(a)</sup><br>| 229968 | 8844569 |
| Old National Bancorp |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 7.00%, NVS<sup>(b)</sup> | 342585 | 8537218 |
| &nbsp;&nbsp;&nbsp; Series C, 7.00%, NVS<sup>(b)</sup> | 388577 | 9628938 |
| &nbsp;&nbsp;&nbsp; Pinnacle Financial Partners, Inc., Series B, <br> 6.75%, NVS<sup>(b)</sup><br>| 713666 | 17063754 |
| Popular Capital Trust II, 6.13% | 320420 | 7917578 |
| Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.95%<sup>(b)</sup> | 1585995 | 39411976 |
| &nbsp;&nbsp;&nbsp; Series C, 5.70%, NVS<sup>(b)</sup> | 1585995 | 37857701 |
| &nbsp;&nbsp;&nbsp; Series E, 4.45%, NVS<sup>(b)</sup> | 1268783 | 21797692 |
| Synovus Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (3-mo. CME Term SOFR + 3.614%), <br> 7.91%, NVS<sup>(b)(c)</sup><br>| 634339 | 15972656 |
| &nbsp;&nbsp;&nbsp; Series E, 8.40%, NVS<sup>(b)</sup> | 1110171 | 28387072 |
| &nbsp;&nbsp;&nbsp; Texas Capital Bancshares, Inc., Series B, 5.75%, <br> NVS<sup>(b)</sup><br>| 951560 | 20220650 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, (3-mo. CME Term SOFR + 0.792%), <br> 5.08%, NVS<sup>(b)(c)(d)</sup><br>| 547189 | 11053218 |
| &nbsp;&nbsp;&nbsp; Series O, 5.25%, NVS<sup>(b)</sup> | 1823863 | 38246407 |
| &nbsp;&nbsp;&nbsp; Series R, 4.75%, NVS<sup>(b)</sup> | 2934038 | 55629361 |
| U.S. Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 1.282%), <br> 5.54%, NVS<sup>(b)(c)</sup><br>| 45535 | 37529947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B\*, (3-mo. CME Term SOFR + 0.862%), <br> 5.12%, NVS<sup>(b)(c)</sup><br>| 3171906 | 63691873 |
| &nbsp;&nbsp;&nbsp; Series K, 5.50%, NVS<sup>(b)</sup> | 1823864 | 40380349 |
| &nbsp;&nbsp;&nbsp; Series L, 3.75%, NVS<sup>(b)</sup> | 1585995 | 23869225 |
| &nbsp;&nbsp;&nbsp; Series M, 4.00%, NVS<sup>(b)</sup> | 2378957 | 38324997 |
| &nbsp;&nbsp;&nbsp; Series O, 4.50%, NVS<sup>(b)</sup> | 1427384 | 26135401 |
| UMB Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%<sup>(b)</sup> | 372867 | 9306760 |
| &nbsp;&nbsp;&nbsp; 7.75%, Non-Voting Shares<sup>(b)</sup> | 967406 |  |

---

------

Schedule of Investments (unaudited) (continued)

June 30, 2025

**iShares® Preferred and Income Securities ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Valley National Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 4.112%), <br> 8.40%, NVS<sup>(b)(c)</sup><br>| 364733 | $8910427 |
| &nbsp;&nbsp;&nbsp; Series B, 8.43%, NVS<sup>(b)(c)</sup> | 324153 | 7919058 |
| &nbsp;&nbsp;&nbsp; Series C, 8.25%<sup>(b)</sup> | 475818 | 11719397 |
| WaFd, Inc., Series A, 4.88%, NVS<sup>(b)</sup> | 950729 | 14679256 |
| Webster Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series F, 5.25%, NVS<sup>(b)</sup> | 475818 | 9069091 |
| &nbsp;&nbsp;&nbsp; Series G, 6.50%<sup>(b)</sup> | 428207 | 9921556 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp; Series AA, 4.70%, NVS<sup>(b)</sup> | 3193680 | 60136994 |
| &nbsp;&nbsp;&nbsp; Series CC, 4.38%, NVS<sup>(b)</sup> | 2782978 | 48869094 |
| &nbsp;&nbsp;&nbsp; Series DD, 4.25%, NVS<sup>(b)</sup> | 3332270 | 57481658 |
| &nbsp;&nbsp;&nbsp; Series L, 7.50%, NVS<sup>(a)(b)</sup> | 275592 | 323580835 |
| &nbsp;&nbsp;&nbsp; Series Y, 5.63%, NVS<sup>(b)(d)</sup> | 1815987 | 42112739 |
| &nbsp;&nbsp;&nbsp; Series Z, 4.75%, NVS<sup>(b)</sup> | 5519249 | 105086501 |
| WesBanco, Inc., Series A, 6.75%, NVS<sup>(b)</sup> | 475818 | 12014405 |
| &nbsp;&nbsp;&nbsp; Western Alliance Bancorp, Series A, 4.25%, <br> NVS<sup>(b)</sup><br>| 951560 | 20763039 |
| Wintrust Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 6.50%, NVS<sup>(b)</sup> | 396474 | 10054581 |
| &nbsp;&nbsp;&nbsp; Series E, 6.88%, NVS<sup>(b)</sup> | 911933 | 23144860 |
| &nbsp;&nbsp;&nbsp; Series F, 7.88%<sup>(b)</sup> | 1348500 | 34521600 |
|  |  | 3350907991 |
| **Broadline Retail — 0.3%** | **Broadline Retail — 0.3%** | **Broadline Retail — 0.3%** |
| Dillard's Capital Trust I, 7.50%<sup>(d)</sup> | 621051 | 15936168 |
| QVC Group, Inc., 8.00% | 1030754 | 7081280 |
| QVC, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25% | 1566473 | 15508083 |
| &nbsp;&nbsp;&nbsp; 6.38% | 713683 | 7179651 |
|  |  | 45705182 |
| **Capital Markets — 12.8%** | **Capital Markets — 12.8%** | **Capital Markets — 12.8%** |
| Affiliated Managers Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.20% | 634342 | 9578564 |
| &nbsp;&nbsp;&nbsp; 4.75% | 872291 | 14767887 |
| &nbsp;&nbsp;&nbsp; 5.88% | 935093 | 19010441 |
| &nbsp;&nbsp;&nbsp; 6.75% | 1400399 | 32573281 |
| &nbsp;&nbsp;&nbsp; Ares Management Corp., Series B, 6.75%, <br> NVS<sup>(a)</sup><br>| 2344644 | 124266132 |
| B Riley Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50% | 554229 | 6817017 |
| &nbsp;&nbsp;&nbsp; 6.00% | 697187 | 4231925 |
| &nbsp;&nbsp;&nbsp; 5.50%<sup>(d)</sup> | 317428 | 5910509 |
| &nbsp;&nbsp;&nbsp; 5.25%<sup>(d)</sup> | 1232871 | 7594485 |
| &nbsp;&nbsp;&nbsp; 5.00%<sup>(d)</sup> | 691338 | 7798293 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The), Series K, <br> 6.15%, NVS<sup>(b)</sup><br>| 1557692 | 39939223 |
| Brookfield Finance I UK PLC, 4.50%<sup>(b)</sup> | 711118 | 10552991 |
| Brookfield Finance, Inc., Series 50, 4.63%, NVS | 1246945 | 19153075 |
| Brookfield Oaktree Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.63%, NVS<sup>(b)</sup> | 570945 | 13126026 |
| &nbsp;&nbsp;&nbsp; Series B, 6.55%, NVS<sup>(b)</sup> | 734734 | 16031896 |
| Carlyle Finance LLC, 4.63%, NVS | 1553526 | 26021560 |
| Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 5.95%, NVS<sup>(b)</sup> | 2340293 | 57711625 |
| &nbsp;&nbsp;&nbsp; Series J, 4.45%, NVS<sup>(b)</sup> | 1867936 | 35378708 |
| CION Investment Corp., 7.50% | 475830 | 11695901 |
| Crescent Capital BDC, Inc., 5.00% | 354002 | 8694289 |
| DigitalBridge Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series H, 7.13%, NVS<sup>(b)</sup> | 665700 | 13933101 |
| &nbsp;&nbsp;&nbsp; Series I, 7.15%, NVS<sup>(b)</sup> | 1000107 | 20522196 |
| &nbsp;&nbsp;&nbsp; Series J, 7.13%, NVS<sup>(b)</sup> | 902760 | 18569773 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Capital Markets (continued)** | **Capital Markets (continued)** | **Capital Markets (continued)** |
| Gladstone Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, NVS | 405826 | $10109126 |
| &nbsp;&nbsp;&nbsp; 4.88% | 426748 | 9781064 |
| &nbsp;&nbsp;&nbsp; 7.88% | 401222 | 10110794 |
| Goldman Sachs Group, Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 1.012%), <br> 5.31%, NVS<sup>(b)(c)(d)</sup><br>| 2338838 | 49489812 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 1.012%), <br> 5.31%, NVS<sup>(b)(c)(d)</sup><br>| 634339 | 13498734 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (3-mo. CME Term SOFR + 0.932%), <br> 5.23%, NVS<sup>(b)(c)</sup><br>| 4224781 | 87664206 |
| KKR & Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 6.25%<sup>(a)</sup> | 4047348 | 216937853 |
| &nbsp;&nbsp;&nbsp; Series T, 6.88% | 1823544 |  |
| KKR Group Finance Co. IX LLC, 4.63%, NVS | 1553854 | 26788443 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 0.962%), <br> 5.22%<sup>(b)(c)</sup><br>| 3484588 | 74326262 |
| &nbsp;&nbsp;&nbsp; Series E, 7.13%, NVS<sup>(b)(c)</sup> | 2724967 | 68750917 |
| &nbsp;&nbsp;&nbsp; Series F, 6.88%, NVS<sup>(b)(c)</sup> | 2684606 | 67464149 |
| &nbsp;&nbsp;&nbsp; Series I, 6.38%, NVS<sup>(b)(c)</sup> | 3167582 | 78556034 |
| &nbsp;&nbsp;&nbsp; Series K, 5.85%, NVS<sup>(b)(c)</sup> | 3165319 | 74068465 |
| &nbsp;&nbsp;&nbsp; Series L, 4.88%, NVS<sup>(b)</sup> | 1544405 | 30548331 |
| &nbsp;&nbsp;&nbsp; Series O, 4.25%, NVS<sup>(b)</sup> | 4113778 | 70839257 |
| &nbsp;&nbsp;&nbsp; Series P, 6.50%, NVS<sup>(b)</sup> | 3168606 | 81528232 |
| &nbsp;&nbsp;&nbsp; Series Q, 6.63%, NVS<sup>(b)</sup> | 3169366 | 81928111 |
| New Mountain Finance Corp., 8.25% | 352154 | 8965841 |
| Northern Trust Corp., Series E, 4.70%, NVS<sup>(b)</sup> | 1241970 | 24292933 |
| Prospect Capital Corp., Series A, 5.35%<sup>(b)(d)</sup> | 416403 | 6454247 |
| &nbsp;&nbsp;&nbsp; Saratoga Investment Corp., Series 2027, <br> 6.00%<sup>(d)</sup><br>| 324281 | 7876785 |
| State Street Corp., Series G, 5.35%, NVS<sup>(b)(c)</sup> | 1556354 | 33804009 |
| Stifel Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.20% | 695196 | 15294312 |
| &nbsp;&nbsp;&nbsp; Series B, 6.25%, NVS<sup>(b)</sup> | 507471 | 11971241 |
| &nbsp;&nbsp;&nbsp; Series C, 6.13%, NVS<sup>(b)</sup> | 695618 | 15734879 |
| &nbsp;&nbsp;&nbsp; Series D, 4.50%, NVS<sup>(b)</sup> | 937782 | 15876649 |
| Trinity Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, NVS | 370122 | 9297465 |
| &nbsp;&nbsp;&nbsp; 7.88% | 365115 | 9204549 |
|  |  | 1735041598 |
| **Chemicals — 0.9%** | **Chemicals — 0.9%** | **Chemicals — 0.9%** |
| Albemarle Corp., 7.25%, NVS<sup>(a)</sup> | 3601090 | 115594989 |
| EIDP, Inc., Series B, 4.50%, NVS<sup>(b)</sup> | 132697 | 9252962 |
|  |  | 124847951 |
| **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** | **Commercial Services & Supplies — 0.2%** |
| Pitney Bowes, Inc., 6.70% | 1330445 | 24799495 |
| **Consumer Finance — 3.3%** | **Consumer Finance — 3.3%** | **Consumer Finance — 3.3%** |
| Atlanticus Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%<sup>(d)</sup> | 470065 | 11290961 |
| &nbsp;&nbsp;&nbsp; 9.25%, NVS | 513860 | 12846500 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series I, 5.00%, NVS<sup>(b)</sup> | 4697115 | 88775473 |
| &nbsp;&nbsp;&nbsp; Series J, 4.80%, NVS<sup>(b)</sup> | 3914236 | 69555974 |
| &nbsp;&nbsp;&nbsp; Series K, 4.63%, NVS<sup>(b)</sup> | 396474 | 6934330 |
| &nbsp;&nbsp;&nbsp; Series L, 4.38%, NVS<sup>(b)</sup> | 2113683 | 34600991 |
| &nbsp;&nbsp;&nbsp; Series N, 4.25%, NVS<sup>(b)</sup> | 1348040 | 22040454 |
| Navient Corp., 6.00% | 939423 | 17144470 |
| Shift4 Payments, Inc., 6.00%, Non-Voting Shares | 781623 | 90042970 |
| &nbsp;&nbsp;&nbsp; SLM Corp., Series B, (3-mo. CME Term SOFR + <br> 1.962%),6.28%<sup>(b)(c)(d)</sup><br>| 197324 | 14264552 |

---

------

Schedule of Investments (unaudited) (continued)

June 30, 2025

**iShares® Preferred and Income Securities ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Consumer Finance (continued)** | **Consumer Finance (continued)** | **Consumer Finance (continued)** |
| Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.63%, NVS<sup>(b)</sup> | 2348350 | $43209640 |
| &nbsp;&nbsp;&nbsp; Series B, 8.25%, NVS<sup>(b)</sup> | 1570255 | 39005134 |
|  |  | 449711449 |
| **Diversified REITs — 0.4%** | **Diversified REITs — 0.4%** | **Diversified REITs — 0.4%** |
| &nbsp;&nbsp;&nbsp; Armada Hoffler Properties, Inc., Series A, 6.75%, <br> NVS<sup>(b)</sup><br>| 536859 | 11596154 |
| &nbsp;&nbsp;&nbsp; CTO Realty Growth, Inc., Series A, 6.38%, <br> NVS<sup>(b)</sup><br>| 368935 | 7426662 |
| Global Net Lease, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 7.25%, NVS<sup>(b)</sup> | 532288 | 11646462 |
| &nbsp;&nbsp;&nbsp; Series B, 6.88%<sup>(b)</sup> | 367648 | 7694873 |
| &nbsp;&nbsp;&nbsp; Series D, 7.50%, NVS<sup>(b)</sup> | 629134 | 14532995 |
| LXP Industrial Trust, Series C, 6.50%, NVS<sup>(a)(b)</sup> | 156917 | 7266826 |
|  |  | 60163972 |
| **Diversified Telecommunication Services — 2.7%** | **Diversified Telecommunication Services — 2.7%** | **Diversified Telecommunication Services — 2.7%** |
| AT&T Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.35% | 4141263 | 91936039 |
| &nbsp;&nbsp;&nbsp; Series A, 5.00%, NVS<sup>(b)</sup> | 3757692 | 75717494 |
| &nbsp;&nbsp;&nbsp; Series C, 4.75%, NVS<sup>(b)</sup> | 5479936 | 104666777 |
| Qwest Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75% | 2066764 | 37553102 |
| &nbsp;&nbsp;&nbsp; 6.50%, NVS | 3060916 | 55096488 |
|  |  | 364969900 |
| **Electric Utilities — 8.7%** | **Electric Utilities — 8.7%** | **Electric Utilities — 8.7%** |
| BIP Bermuda Holdings I Ltd., 5.13%<sup>(b)</sup> | 935819 | 15225775 |
| Brookfield BRP Holdings Canada, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, NVS<sup>(b)</sup> | 1096019 | 17262299 |
| &nbsp;&nbsp;&nbsp; 4.88%<sup>(b)</sup> | 824680 | 13335076 |
| &nbsp;&nbsp;&nbsp; 7.25%<sup>(b)</sup> | 475821 | 11043806 |
| Brookfield Infrastructure Finance ULC |  |  |
| &nbsp;&nbsp;&nbsp; 5.00% | 774636 | 12285727 |
| &nbsp;&nbsp;&nbsp; 7.25% | 488784 | 10929210 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.63% | 1560035 | 36770025 |
| &nbsp;&nbsp;&nbsp; Series A, 5.75%, NVS<sup>(b)</sup> | 3125841 | 76020453 |
| Entergy Arkansas LLC, 4.88% | 1280135 | 25858727 |
| Entergy Louisiana LLC, 4.88% | 856433 | 17154353 |
| Entergy Mississippi LLC, 4.90% | 807610 | 16200657 |
| Georgia Power Co., Series 2017, 5.00% | 856433 | 17591134 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series N, 5.65% | 2146751 | 47464665 |
| &nbsp;&nbsp;&nbsp; Series U, 6.50% | 2734475 | 68334530 |
| NextEra Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.93%<sup>(a)</sup> | 3128082 | 124309979 |
| &nbsp;&nbsp;&nbsp; 7.30%<sup>(a)</sup> | 3128592 | 147325397 |
| &nbsp;&nbsp;&nbsp; 7.23%<sup>(a)</sup> | 2345512 | 103788906 |
| Pacific Gas & Electric Co., Series A, 6.00%<sup>(b)</sup> | 333999 | 7321258 |
| PG&E Corp., Series A, 6.00%, NVS<sup>(a)</sup> | 2521227 | 94798135 |
| SCE Trust II, 5.10%, NVS<sup>(b)</sup> | 684749 | 11134019 |
| SCE Trust IV, Series J, 5.38%, NVS<sup>(b)</sup> | 1011239 | 22793327 |
| SCE Trust V, Series K, 5.45%, NVS<sup>(b)</sup> | 932752 | 21266746 |
| SCE Trust VI, 5.00%, NVS<sup>(b)</sup> | 1506651 | 24106416 |
| SCE Trust VII, Series M, 7.50%<sup>(b)</sup> | 1716206 | 38134097 |
| SCE Trust VIII, Series N, 6.95%, NVS<sup>(b)</sup> | 1110171 | 23779863 |
| Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 5.25% | 1402740 | 29892389 |
| &nbsp;&nbsp;&nbsp; 6.50% | 1763977 | 45298929 |
| &nbsp;&nbsp;&nbsp; Series 2020, 4.95% | 3124563 | 61866347 |
| &nbsp;&nbsp;&nbsp; Series C, 4.20% | 2340749 | 41126960 |
|  |  | 1182419205 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Electrical Equipment — 0.1%** | **Electrical Equipment — 0.1%** | **Electrical Equipment — 0.1%** |
| Babcock & Wilcox Enterprises, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50% | 328649 | $5189368 |
| &nbsp;&nbsp;&nbsp; 8.13% | 345706 | 6741267 |
| &nbsp;&nbsp;&nbsp; Series A, 7.75%, NVS<sup>(b)</sup> | 621470 | 6183626 |
|  |  | 18114261 |
| **Financial Services — 5.5%** | **Financial Services — 5.5%** | **Financial Services — 5.5%** |
| Apollo Global Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%<sup>(a)</sup> | 2248826 | 168324626 |
| &nbsp;&nbsp;&nbsp; 7.63% | 1873728 | 48773140 |
| &nbsp;&nbsp;&nbsp; Citigroup Capital XIII, (3-mo. CME Term SOFR + <br> 6.632%),10.91%, NVS<sup>(c)</sup><br>| 7124126 | 209591787 |
| Compass Diversified Holdings |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 7.25%, NVS<sup>(b)</sup> | 366406 | 6129972 |
| &nbsp;&nbsp;&nbsp; Series B, 7.88%, NVS<sup>(b)</sup> | 595149 | 11057868 |
| &nbsp;&nbsp;&nbsp; Series C, 7.88%, NVS<sup>(b)</sup> | 625458 | 11789883 |
| Corebridge Financial, Inc., 6.38% | 1872877 | 43076171 |
| Equitable Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.25%, NVS<sup>(b)</sup> | 2495127 | 50975445 |
| &nbsp;&nbsp;&nbsp; Series C, 4.30%<sup>(b)</sup> | 930089 | 15858018 |
| Federal Agricultural Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 5.70%, NVS<sup>(b)</sup> | 317206 | 6832617 |
| &nbsp;&nbsp;&nbsp; Series F, 5.25%, NVS<sup>(b)</sup> | 380603 | 7490267 |
| &nbsp;&nbsp;&nbsp; Series G, 4.88%, NVS<sup>(b)</sup> | 396474 | 7235651 |
| Jackson Financial, Inc., 8.00%<sup>(b)</sup> | 1714427 | 43409292 |
| Merchants Bancorp |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, NVS<sup>(b)</sup> | 451974 | 11208955 |
| &nbsp;&nbsp;&nbsp; 7.63%, NVS<sup>(b)</sup> | 714355 | 16430165 |
| &nbsp;&nbsp;&nbsp; Series C, 6.00%, NVS<sup>(b)</sup> | 613878 | 11909233 |
| &nbsp;&nbsp;&nbsp; National Rural Utilities Cooperative Finance <br> Corp., Series US, 5.50%<br>| 792959 | 18920002 |
| NewtekOne, Inc., 5.50% | 364733 | 9056320 |
| TPG Operating Group II LP, 6.95%, NVS | 1244539 | 31399719 |
| Voya Financial, Inc., Series B, 5.35%, NVS<sup>(b)</sup> | 951560 | 22647128 |
|  |  | 752116259 |
| **Food Products — 1.3%** | **Food Products — 1.3%** | **Food Products — 1.3%** |
| CHS, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, NVS<sup>(b)</sup> | 960718 | 26467781 |
| &nbsp;&nbsp;&nbsp; Series 1, 7.88%, NVS<sup>(b)(d)</sup> | 1679940 | 43527245 |
| &nbsp;&nbsp;&nbsp; Series 2, 7.10%, NVS<sup>(b)(c)</sup> | 1315184 | 32287767 |
| &nbsp;&nbsp;&nbsp; Series 3, 6.75%, NVS<sup>(b)(c)</sup> | 1542282 | 36706312 |
| &nbsp;&nbsp;&nbsp; Series 4, 7.50%<sup>(b)</sup> | 1620521 | 40901950 |
|  |  | 179891055 |
| **Gas Utilities — 0.2%** | **Gas Utilities — 0.2%** | **Gas Utilities — 0.2%** |
| Entergy New Orleans LLC, 5.50% | 356597 | 7713193 |
| Spire, Inc., Series A, 5.90%, NVS<sup>(b)</sup> | 792959 | 18705903 |
|  |  | 26419096 |
| **Health Care Providers & Services — 0.4%** | **Health Care Providers & Services — 0.4%** | **Health Care Providers & Services — 0.4%** |
| BrightSpring Health Services, Inc., 6.75%, NVS<sup>(a)</sup> | 634348 | 52365427 |
| **Health Care REITs — 0.2%** | **Health Care REITs — 0.2%** | **Health Care REITs — 0.2%** |
| Diversified Healthcare Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, NVS | 792951 | 13115410 |
| &nbsp;&nbsp;&nbsp; 5.63% | 1095951 | 17151633 |
|  |  | 30267043 |
| **Hotel & Resort REITs — 0.8%** | **Hotel & Resort REITs — 0.8%** | **Hotel & Resort REITs — 0.8%** |
| &nbsp;&nbsp;&nbsp; Braemar Hotels & Resorts, Inc., Series B, 5.50%, <br> NVS<sup>(a)(b)</sup><br>| 249315 | 3285972 |
| Chatham Lodging Trust, Series A, 6.63%, NVS<sup>(b)</sup> | 377250 | 7469550 |
| DiamondRock Hospitality Co., 8.25%, NVS<sup>(b)</sup> | 374104 | 9154325 |
| Pebblebrook Hotel Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series E, 6.38%, NVS<sup>(b)</sup> | 344446 | 6048472 |

---

------

Schedule of Investments (unaudited) (continued)

June 30, 2025

**iShares® Preferred and Income Securities ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Hotel & Resort REITs (continued)** | **Hotel & Resort REITs (continued)** | **Hotel & Resort REITs (continued)** |
| Pebblebrook Hotel Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series F, 6.30%, NVS<sup>(b)</sup> | 471531 | $8275369 |
| &nbsp;&nbsp;&nbsp; Series G, 6.38%, NVS<sup>(b)</sup> | 723046 | 12689457 |
| &nbsp;&nbsp;&nbsp; Series H, 5.70%, NVS<sup>(b)</sup> | 634342 | 10384178 |
| RLJ Lodging Trust, Series A, 1.95%<sup>(a)(b)</sup> | 1009727 | 23890141 |
| Summit Hotel Properties, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series E, 6.25%, NVS<sup>(b)</sup> | 503063 | 8874031 |
| &nbsp;&nbsp;&nbsp; Series F, 5.88%, NVS<sup>(b)</sup> | 317210 | 5633650 |
| Sunstone Hotel Investors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series H, 6.13%<sup>(b)</sup> | 362703 | 7297584 |
| &nbsp;&nbsp;&nbsp; Series I, 5.70%, NVS<sup>(b)</sup> | 315687 | 5884406 |
|  |  | 108887135 |
| **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** |
| FAT Brands, Inc., Series B, 8.25%, NVS<sup>(b)</sup> | 681462 | 1669582 |
| **Independent Power and Renewable Electricity Producers — 0.3%** | **Independent Power and Renewable Electricity Producers — 0.3%** | **Independent Power and Renewable Electricity Producers — 0.3%** |
| &nbsp;&nbsp;&nbsp; Brookfield Renewable Partners LP, Series 17, <br> 5.25%, NVS<sup>(b)</sup><br>| 647650 | 11223774 |
| Tennessee Valley Authority |  |  |
| &nbsp;&nbsp;&nbsp; Series A, (30-yr. CMT + 0.840%), 2.22%<sup>(c)</sup> | 652424 | 15201479 |
| &nbsp;&nbsp;&nbsp; Series D, (30-yr. CMT + 0.940%), 2.13%<sup>(c)(d)</sup> | 813502 | 19035947 |
|  |  | 45461200 |
| **Insurance — 11.1%** | **Insurance — 11.1%** | **Insurance — 11.1%** |
| AEGON Funding Co. LLC, 5.10%, NVS | 2889664 | 56406241 |
| Allstate Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3-mo. CME Term SOFR + 3.427%), 7.72%, <br> NVS<sup>(c)(d)</sup><br>| 1560500 | 40276505 |
| &nbsp;&nbsp;&nbsp; Series H, 5.10%, NVS<sup>(b)</sup> | 3594539 | 74047503 |
| &nbsp;&nbsp;&nbsp; Series I, 4.75%, NVS<sup>(b)</sup> | 951560 | 18136734 |
| &nbsp;&nbsp;&nbsp; Series J, 7.38%<sup>(b)</sup> | 1873787 | 48887103 |
| American Financial Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88% | 396474 | 8452826 |
| &nbsp;&nbsp;&nbsp; 4.50% | 634339 | 10771076 |
| &nbsp;&nbsp;&nbsp; 5.63% | 475818 | 9825642 |
| &nbsp;&nbsp;&nbsp; 5.13% | 634339 | 12052441 |
| American National Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, NVS<sup>(b)</sup> | 951560 | 24807169 |
| &nbsp;&nbsp;&nbsp; Series B, 6.63%, NVS<sup>(b)</sup> | 951560 | 23884156 |
| Arch Capital Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; Series F, 5.45%, NVS<sup>(b)</sup> | 1046698 | 21467776 |
| &nbsp;&nbsp;&nbsp; Series G, 4.55%<sup>(b)</sup> | 1557700 | 26122629 |
| &nbsp;&nbsp;&nbsp; Argo Group International Holdings, Inc., 7.00%, <br> NVS<sup>(b)</sup><br>| 464218 | 11628661 |
| Argo Group U.S., Inc., 6.50% | 465952 | 9384273 |
| Aspen Insurance Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, NVS<sup>(b)</sup> | 722796 | 14202941 |
| &nbsp;&nbsp;&nbsp; 5.63%, NVS<sup>(b)</sup> | 843119 | 16912967 |
| &nbsp;&nbsp;&nbsp; 7.00%, NVS<sup>(b)</sup> | 702326 | 16645126 |
| Assurant, Inc., 5.25% | 776096 | 16647259 |
| Athene Holding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, NVS | 1795173 | 44699808 |
| &nbsp;&nbsp;&nbsp; Series A, 6.35%, NVS<sup>(b)</sup> | 2704396 | 65365251 |
| &nbsp;&nbsp;&nbsp; Series B, 5.63%, NVS<sup>(b)</sup> | 1094301 | 21842248 |
| &nbsp;&nbsp;&nbsp; Series D, 4.88%<sup>(b)</sup> | 1794922 | 30693166 |
| &nbsp;&nbsp;&nbsp; Series E, 7.75%, NVS<sup>(b)</sup> | 1566150 | 40077779 |
| &nbsp;&nbsp;&nbsp; Axis Capital Holdings Ltd., Series E, 5.50%, <br> NVS<sup>(b)</sup><br>| 1712279 | 33971615 |
| Brighthouse Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25% | 1189439 | 22694496 |
| &nbsp;&nbsp;&nbsp; Series A, 6.60%, NVS<sup>(b)</sup> | 1348040 | 24790456 |
| &nbsp;&nbsp;&nbsp; Series B, 6.75%, NVS<sup>(b)</sup> | 1276669 | 24665245 |
| &nbsp;&nbsp;&nbsp; Series C, 5.38%<sup>(b)</sup> | 1791713 | 26499435 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Brighthouse Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 4.63%, NVS<sup>(b)</sup> | 1086125 | $14445463 |
| CNO Financial Group, Inc., 5.13% | 461897 | 7958485 |
| Enstar Group Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 7.00%, NVS<sup>(b)</sup> | 1268783 | 25515226 |
| &nbsp;&nbsp;&nbsp; Series E, 7.00%, NVS<sup>(b)</sup> | 344803 | 7068462 |
| F&G Annuities & Life, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.95%, NVS | 1075228 | 27719378 |
| &nbsp;&nbsp;&nbsp; 7.30% | 1168593 | 28466925 |
| Globe Life, Inc., 4.25%, NVS | 1009249 | 16248909 |
| &nbsp;&nbsp;&nbsp; Hartford Insurance Group, Inc. (The), Series G, <br> 6.00%, NVS<sup>(b)</sup><br>| 1077080 | 26722355 |
| Kemper Corp., 5.88% | 463887 | 11133288 |
| Lincoln National Corp., Series D, 9.00%<sup>(b)</sup> | 1560603 | 41527646 |
| Maiden Holdings Ltd., 6.63% | 356536 | 5308821 |
| Maiden Holdings North America Ltd., 7.75% | 483715 | 7957112 |
| MetLife, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 1.262%), <br> 5.58%, NVS<sup>(b)(c)</sup><br>| 1873020 | 43416604 |
| &nbsp;&nbsp;&nbsp; Series E, 5.63%, NVS<sup>(b)(d)</sup> | 2514992 | 59328661 |
| &nbsp;&nbsp;&nbsp; Series F, 4.75%, NVS<sup>(b)</sup> | 3124445 | 60895433 |
| Prudential Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.95%<sup>(d)</sup> | 934005 | 23284745 |
| &nbsp;&nbsp;&nbsp; 5.63% | 1763446 | 41458615 |
| &nbsp;&nbsp;&nbsp; 4.13%, NVS | 1558093 | 26721295 |
| Reinsurance Group of America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.13% | 2186833 | 55633032 |
| &nbsp;&nbsp;&nbsp; 5.75%, NVS<sup>(d)</sup> | 1247035 | 30614709 |
| RenaissanceRe Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; Series F, 5.75%, NVS<sup>(b)</sup> | 780186 | 16539943 |
| &nbsp;&nbsp;&nbsp; Series G, 4.20%, NVS<sup>(b)</sup> | 1585995 | 24662222 |
| &nbsp;&nbsp;&nbsp; Selective Insurance Group, Inc., Series B, <br> 4.60%<sup>(b)</sup><br>| 624917 | 10411117 |
| SiriusPoint Ltd., Series B, 8.00%, NVS<sup>(b)</sup> | 619741 | 15654658 |
| Unum Group, 6.25% | 933565 | 21350632 |
| W R Berkley Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.70% | 586815 | 13297228 |
| &nbsp;&nbsp;&nbsp; 5.10% | 951560 | 19459402 |
| &nbsp;&nbsp;&nbsp; 4.13% | 930886 | 14801087 |
| &nbsp;&nbsp;&nbsp; 4.25% | 778512 | 12689746 |
|  |  | 1506149726 |
| **Leisure Products — 0.2%** | **Leisure Products — 0.2%** | **Leisure Products — 0.2%** |
| Brunswick Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50% | 586815 | 14312418 |
| &nbsp;&nbsp;&nbsp; 6.38% | 720206 | 17400177 |
|  |  | 31712595 |
| **Machinery — 0.3%** | **Machinery — 0.3%** | **Machinery — 0.3%** |
| Chart Industries, Inc., Series B, 6.75%, NVS<sup>(a)</sup> | 630228 | 38065771 |
| **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** | **Marine Transportation — 0.1%** |
| Global Ship Lease, Inc., 8.75%, NVS<sup>(b)</sup> | 353325 | 9062786 |
| **Media — 0.1%** | **Media — 0.1%** | **Media — 0.1%** |
| Liberty Broadband Corp., Series A, 7.00%<sup>(b)</sup> | 580701 | 14488490 |
| **Mortgage Real Estate Investment Trusts (REITs) — 5.9%** | **Mortgage Real Estate Investment Trusts (REITs) — 5.9%** | **Mortgage Real Estate Investment Trusts (REITs) — 5.9%** |
| ACRES Commercial Realty Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.927%), <br> 10.22%<sup>(b)(c)</sup><br>| 374350 | 9287624 |
| &nbsp;&nbsp;&nbsp; Series D, 7.88%, NVS<sup>(b)</sup> | 348874 | 7703138 |
| AGNC Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.373%), <br> 9.63%, NVS<sup>(b)(c)</sup><br>| 1014503 | 25839391 |

---

------

Schedule of Investments (unaudited) (continued)

June 30, 2025

**iShares® Preferred and Income Securities ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** |
| AGNC Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (3-mo. CME Term SOFR + 4.594%), <br> 8.85%, NVS<sup>(b)(c)</sup><br>| 745436 | $18524085 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E, (3-mo. CME Term SOFR + 5.255%), <br> 9.51%, NVS<sup>(b)(c)</sup><br>| 1255091 | 31879311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series F, (3-mo. CME Term SOFR + 4.959%), <br> 9.22%, NVS<sup>(b)(c)</sup><br>| 1795173 | 45076794 |
| &nbsp;&nbsp;&nbsp; Series G, 7.75%, NVS<sup>(b)</sup> | 475818 | 11824077 |
| Annaly Capital Management, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series F, (3-mo. CME Term SOFR + 5.255%), <br> 9.55%, NVS<sup>(b)(c)</sup><br>| 2249216 | 56657751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series G, (3-mo. CME Term SOFR + 4.434%), <br> 8.73%, NVS<sup>(b)(c)</sup><br>| 1325459 | 32805110 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, (3-mo. CME Term SOFR + 5.251%), <br> 9.54%, NVS<sup>(b)(c)</sup><br>| 1380310 | 34770009 |
| Arbor Realty Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 6.38%, NVS<sup>(b)</sup> | 716108 | 12238286 |
| &nbsp;&nbsp;&nbsp; Series E, 6.25%, NVS<sup>(b)</sup> | 446768 | 7648668 |
| &nbsp;&nbsp;&nbsp; Series F, 6.25%, NVS<sup>(b)(d)</sup> | 899441 | 18267647 |
| &nbsp;&nbsp;&nbsp; ARMOUR Residential REIT, Inc., Series C, <br> 7.00%<sup>(b)</sup><br>| 532320 | 10859328 |
| Chimera Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 8.00%, NVS<sup>(b)</sup> | 459948 | 10233843 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, (3-mo. CME Term SOFR + 6.053%), <br> 10.35%, NVS<sup>(b)(c)</sup><br>| 1014332 | 24769987 |
| &nbsp;&nbsp;&nbsp; Series C, 7.75%, NVS<sup>(b)</sup> | 824693 | 18613321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, (3-mo. CME Term SOFR + 5.600%), <br> 9.90%, NVS<sup>(b)(c)(d)</sup><br>| 623788 | 15020815 |
| &nbsp;&nbsp;&nbsp; Dynex Capital, Inc., Series C, (3-mo. CME Term <br> SOFR + 5.723%),9.98%, NVS<sup>(b)(c)</sup><br>| 343840 | 8771358 |
| Ellington Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 10.05%, NVS<sup>(b)(c)</sup> | 364733 | 8979726 |
| &nbsp;&nbsp;&nbsp; Series B, 6.25%, NVS<sup>(b)</sup> | 382214 | 8523372 |
| &nbsp;&nbsp;&nbsp; Series C, 8.63%<sup>(b)</sup> | 317210 | 7705031 |
| &nbsp;&nbsp;&nbsp; Franklin BSP Realty Trust, Inc., Series E, 7.50%, <br> NVS<sup>(b)</sup><br>| 807115 | 16319865 |
| &nbsp;&nbsp;&nbsp; Granite Point Mortgage Trust, Inc., Series A, <br> 7.00%, NVS<sup>(b)</sup><br>| 643672 | 11444488 |
| &nbsp;&nbsp;&nbsp; Invesco Mortgage Capital, Inc., Series C, 7.50%, <br> NVS<sup>(b)</sup><br>| 559454 | 12996116 |
| &nbsp;&nbsp;&nbsp; KKR Real Estate Finance Trust, Inc., Series A, <br> 6.50%, NVS<sup>(b)</sup><br>| 1023729 | 20679326 |
| MFA Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.88%, NVS | 364825 | 9065901 |
| &nbsp;&nbsp;&nbsp; Series B, 7.50%, NVS<sup>(b)</sup> | 626057 | 12658873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.607%), <br> 9.90%, NVS<sup>(b)(c)</sup><br>| 857301 | 20163720 |
| New York Mortgage Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 8.00%, NVS<sup>(b)</sup> | 475528 | 9919514 |
| &nbsp;&nbsp;&nbsp; Series E, 11.28%, NVS<sup>(b)(c)</sup> | 570508 | 14005971 |
| &nbsp;&nbsp;&nbsp; Series F, 6.88%, NVS<sup>(b)</sup> | 455188 | 9627226 |
| PennyMac Mortgage Investment Trust |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, NVS | 547192 | 13707160 |
| &nbsp;&nbsp;&nbsp; 9.00% | 328825 |  |
| &nbsp;&nbsp;&nbsp; Series A, 8.13%, NVS<sup>(b)(c)</sup> | 364733 | 8563931 |
| &nbsp;&nbsp;&nbsp; Series B, 8.00%, NVS<sup>(b)(c)(d)</sup> | 607919 | 14036850 |
| &nbsp;&nbsp;&nbsp; Series C, 6.75%, NVS<sup>(b)</sup> | 775586 | 14464679 |
| Ready Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75% | 418167 | 10261818 |
| &nbsp;&nbsp;&nbsp; 9.00% | 412345 | 9434454 |
| &nbsp;&nbsp;&nbsp; Series E, 6.50%, NVS<sup>(b)</sup> | 354605 | 5283615 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** | **Mortgage Real Estate Investment Trusts (REITs) (continued)** |
| Rithm Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, (3-mo. CME Term SOFR + 6.064%), <br> 10.36%, NVS<sup>(b)(c)</sup><br>| 333846 | $8462996 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, (3-mo. CME Term SOFR + 5.902%), <br> 10.19%<sup>(b)(c)</sup><br>| 876152 | 22079030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.231%), <br> 9.56%, NVS<sup>(b)(c)</sup><br>| 1241899 | 30426526 |
| &nbsp;&nbsp;&nbsp; Series D, 7.00%, NVS<sup>(b)</sup> | 1453215 | 34789967 |
| &nbsp;&nbsp;&nbsp; TPG RE Finance Trust, Inc., Series C, 6.25%, <br> NVS<sup>(b)</sup><br>| 629218 | 10759628 |
| Two Harbors Investment Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 9.38% | 364771 | 9338138 |
| &nbsp;&nbsp;&nbsp; Series A, 8.13%, NVS<sup>(b)</sup> | 400460 | 9198566 |
| &nbsp;&nbsp;&nbsp; Series B, 7.63%, NVS<sup>(b)</sup> | 805605 | 18013328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C, (3-mo. CME Term SOFR + 5.273%), <br> 9.56%, NVS<sup>(b)(c)</sup><br>| 766129 | 18042338 |
|  |  | 799742696 |
| **Multi-Utilities — 1.8%** | **Multi-Utilities — 1.8%** | **Multi-Utilities — 1.8%** |
| &nbsp;&nbsp;&nbsp; Algonquin Power & Utilities Corp., Series 19-A, <br> 8.86%, NVS<sup>(c)</sup><br>| 1090578 | 27438943 |
| Brookfield Infrastructure Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; Series 13, 5.13%, NVS<sup>(b)</sup> | 625037 | 10456869 |
| &nbsp;&nbsp;&nbsp; Series 14, 5.00%, NVS<sup>(b)</sup> | 624778 | 9846501 |
| CMS Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88% | 1970250 | 43739550 |
| &nbsp;&nbsp;&nbsp; 5.88%, NVS | 888163 | 19566231 |
| &nbsp;&nbsp;&nbsp; 5.63% | 634339 | 13562168 |
| &nbsp;&nbsp;&nbsp; Series C, 4.20%, NVS<sup>(b)</sup> | 729553 | 12519129 |
| DTE Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.38% | 868834 | 14804931 |
| &nbsp;&nbsp;&nbsp; Series E, 5.25% | 1248683 | 26222343 |
| &nbsp;&nbsp;&nbsp; Series G, 4.38% | 729553 | 12562903 |
| Sempra, 5.75% | 2365465 | 48610306 |
|  |  | 239329874 |
| **Office REITs — 0.8%** | **Office REITs — 0.8%** | **Office REITs — 0.8%** |
| City Office REIT, Inc., Series A, 6.63%, NVS<sup>(b)</sup> | 356173 | 6924003 |
| &nbsp;&nbsp;&nbsp; Hudson Pacific Properties, Inc., Series C, 4.75%, <br> NVS<sup>(b)</sup><br>| 1330863 | 19776624 |
| Office Properties Income Trust, 6.38% | 525633 | 3232643 |
| SL Green Realty Corp., Series I, 6.50%, NVS<sup>(b)</sup> | 729563 | 15911769 |
| Vornado Realty Trust |  |  |
| &nbsp;&nbsp;&nbsp; Series L, 5.40%, NVS<sup>(b)</sup> | 946844 | 16181564 |
| &nbsp;&nbsp;&nbsp; Series M, 5.25%, NVS<sup>(b)</sup> | 1004390 | 16622655 |
| &nbsp;&nbsp;&nbsp; Series N, 5.25%, NVS<sup>(b)</sup> | 939423 | 15509874 |
| &nbsp;&nbsp;&nbsp; Series O, 4.45%, NVS<sup>(b)</sup> | 951548 | 13702291 |
|  |  | 107861423 |
| **Oil, Gas & Consumable Fuels — 0.5%** | **Oil, Gas & Consumable Fuels — 0.5%** | **Oil, Gas & Consumable Fuels — 0.5%** |
| El Paso Energy Capital Trust I, 4.75%<sup>(a)</sup> | 331287 | 16170118 |
| &nbsp;&nbsp;&nbsp; NGL Energy Partners LP, Series B, (3-mo. CME <br> Term SOFR + 7.475%),11.77%, NVS<sup>(b)(c)</sup><br>| 1148021 | 25199061 |
| Seapeak LLC |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, NVS<sup>(b)</sup> | 363922 | 9108968 |
| &nbsp;&nbsp;&nbsp; Series B, 8.50%, NVS<sup>(b)</sup> | 494675 | 12297621 |
|  |  | 62775768 |
| **Real Estate Management & Development — 0.5%** | **Real Estate Management & Development — 0.5%** | **Real Estate Management & Development — 0.5%** |
| Brookfield Property Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 5.75%, NVS<sup>(b)</sup> | 907442 | 11796746 |
| &nbsp;&nbsp;&nbsp; Series A-1, 6.50%, NVS<sup>(b)</sup> | 583599 | 8806509 |

---

------

Schedule of Investments (unaudited) (continued)

June 30, 2025

**iShares® Preferred and Income Securities ETF**

**(Percentages shown are based on Net Assets)**

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** | **Real Estate Management & Development (continued)** |
| Brookfield Property Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; Series A2, 6.38%, NVS<sup>(b)</sup> | 792957 | $12005369 |
| Brookfield Property Preferred LP, 6.25% | 2107665 | 31383132 |
|  |  | 63991756 |
| **Residential REITs — 0.3%** | **Residential REITs — 0.3%** | **Residential REITs — 0.3%** |
| American Homes 4 Rent |  |  |
| &nbsp;&nbsp;&nbsp; Series G, 5.88%, NVS<sup>(b)</sup> | 372878 | 8512804 |
| &nbsp;&nbsp;&nbsp; Series H, 6.25%, NVS<sup>(b)(d)</sup> | 364733 | 8574873 |
| UMH Properties, Inc., Series D, 6.38%, NVS<sup>(b)</sup> | 1007729 | 21958415 |
|  |  | 39046092 |
| **Retail REITs — 0.5%** | **Retail REITs — 0.5%** | **Retail REITs — 0.5%** |
| Agree Realty Corp., Series A, 4.25%, NVS<sup>(b)</sup> | 547984 | 9299289 |
| &nbsp;&nbsp;&nbsp; Federal Realty Investment Trust, Series C, <br> 5.00%, NVS<sup>(b)</sup><br>| 469674 | 9412267 |
| Kimco Realty Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series L, 5.13%, NVS<sup>(b)</sup> | 696928 | 13694635 |
| &nbsp;&nbsp;&nbsp; Series M, 5.25%, NVS<sup>(b)</sup> | 822517 | 16409214 |
| Regency Centers Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series A, 6.25%, NVS<sup>(b)</sup> | 364733 | 8651467 |
| &nbsp;&nbsp;&nbsp; Series B, 5.88%, NVS<sup>(b)</sup> | 364733 | 8191903 |
| Saul Centers, Inc., Series E, 6.00%, NVS<sup>(b)</sup> | 344446 | 7209255 |
|  |  | 72868030 |
| **Semiconductors & Semiconductor Equipment — 1.1%** | **Semiconductors & Semiconductor Equipment — 1.1%** | **Semiconductors & Semiconductor Equipment — 1.1%** |
| Microchip Technology, Inc., 7.50%<sup>(a)</sup> | 2325107 | 154945130 |
| **Software — 1.4%** | **Software — 1.4%** | **Software — 1.4%** |
| MicroStrategy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, NVS<sup>(a)(b)(d)</sup> | 901440 | 109083254 |
| &nbsp;&nbsp;&nbsp; 10.00%, NVS<sup>(b)(d)</sup> | 761755 | 86192578 |
| &nbsp;&nbsp;&nbsp; Series A, 10.00%, Non-Voting Shares<sup>(b)</sup> | 806122 |  |
| Soluna Holdings, Inc., Series A, 9.00%, NVS<sup>(b)(d)</sup> | 452263 | 1166839 |
|  |  | 196442671 |
| **Specialized REITs — 2.5%** | **Specialized REITs — 2.5%** | **Specialized REITs — 2.5%** |
| Digital Realty Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series J, 5.25%, NVS<sup>(b)(d)</sup> | 634342 | 13359243 |
| &nbsp;&nbsp;&nbsp; Series K, 5.85%, NVS<sup>(b)(d)</sup> | 648823 | 14890488 |
| &nbsp;&nbsp;&nbsp; Series L, 5.20%, NVS<sup>(b)</sup> | 1073861 | 21455743 |
| EPR Properties |  |  |
| &nbsp;&nbsp;&nbsp; Series C, 5.75%, NVS<sup>(a)(b)</sup> | 415440 | 10406772 |
| &nbsp;&nbsp;&nbsp; Series E, 9.00%, NVS<sup>(a)(b)</sup> | 273283 | 8520964 |
| &nbsp;&nbsp;&nbsp; Series G, 5.75%, NVS<sup>(b)</sup> | 475818 | 9916047 |
| Gladstone Land Corp., Series B, 6.00%<sup>(b)</sup> | 462766 | 8945267 |
| &nbsp;&nbsp;&nbsp; National Storage Affiliates Trust, Series A, 6.00%, <br> NVS<sup>(b)</sup><br>| 693757 | 15505469 |
| Public Storage |  |  |
| &nbsp;&nbsp;&nbsp; Series F, 5.15%, NVS<sup>(b)</sup> | 870482 | 17705604 |
| &nbsp;&nbsp;&nbsp; Series G, 5.05%, NVS<sup>(b)(d)</sup> | 935075 | 18720201 |
| &nbsp;&nbsp;&nbsp; Series H, 5.60%<sup>(b)</sup> | 888688 | 19924385 |
| &nbsp;&nbsp;&nbsp; Series I, 4.88%, NVS<sup>(b)</sup> | 985790 | 18848305 |
| &nbsp;&nbsp;&nbsp; Series J, 4.70%, NVS<sup>(b)</sup> | 806079 | 14847975 |
| &nbsp;&nbsp;&nbsp; Series K, 4.75%, NVS<sup>(b)</sup> | 729553 | 13803143 |
| &nbsp;&nbsp;&nbsp; Series L, 4.63%, NVS<sup>(b)</sup> | 1760436 | 32145561 |
| &nbsp;&nbsp;&nbsp; Series M, 4.13%, NVS<sup>(b)</sup> | 729553 | 12095989 |
| &nbsp;&nbsp;&nbsp; Series N, 3.88%, NVS<sup>(b)</sup> | 896051 | 13709580 |
| &nbsp;&nbsp;&nbsp; Series O, 3.90%, NVS<sup>(b)(d)</sup> | 539212 | 8309257 |
| &nbsp;&nbsp;&nbsp; Series P, 4.00%, NVS<sup>(b)</sup> | 1880237 | 29632535 |
| &nbsp;&nbsp;&nbsp; Series Q, 3.95%, NVS<sup>(b)</sup> | 455965 | 7158650 |
| &nbsp;&nbsp;&nbsp; Series R, 4.00%, NVS<sup>(b)</sup> | 1354105 | 21300072 |
| &nbsp;&nbsp;&nbsp; Series S, 4.10%, NVS<sup>(b)</sup> | 792950 | 12861649 |
|  |  | 344062899 |

---

---

| | | |
|:---|:---|:---|
| *Security* | <br> *Shares*<br>| *Value* |
| **Technology Hardware, Storage & Peripherals — 1.0%** | **Technology Hardware, Storage & Peripherals — 1.0%** | **Technology Hardware, Storage & Peripherals — 1.0%** |
| Hewlett Packard Enterprise Co., 7.63%<sup>(a)</sup> | 2348520 | $138280858 |
| **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** | **Textiles, Apparel & Luxury Goods — 0.1%** |
| Fossil Group, Inc., 7.00% | 475818 | 7636879 |
| **Trading Companies & Distributors — 0.9%** | **Trading Companies & Distributors — 0.9%** | **Trading Companies & Distributors — 0.9%** |
| FTAI Aviation Ltd., Series C, 8.25%, NVS<sup>(b)(d)</sup> | 333080 | 8366970 |
| QXO, Inc., 5.50%, Non-Voting Shares | 900314 | 55810465 |
| Triton International Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, NVS<sup>(b)</sup> | 455965 | 11120986 |
| &nbsp;&nbsp;&nbsp; 7.38%, NVS<sup>(b)</sup> | 555074 | 13321776 |
| &nbsp;&nbsp;&nbsp; 6.88%, NVS<sup>(b)(d)</sup> | 475818 | 10582192 |
| &nbsp;&nbsp;&nbsp; 7.63%<sup>(b)</sup> | 464100 | 11068785 |
| &nbsp;&nbsp;&nbsp; Series E, 5.75%, NVS<sup>(b)</sup> | 555074 | 10518652 |
|  |  | 120789826 |
| **Transportation Infrastructure — 0.2%** | **Transportation Infrastructure — 0.2%** | **Transportation Infrastructure — 0.2%** |
| Atlas Corp. |  |  |
| &nbsp;&nbsp;&nbsp; Series D, 7.95%<sup>(b)</sup> | 403911 | 10235105 |
| &nbsp;&nbsp;&nbsp; Series H, 7.88%, NVS<sup>(b)(d)</sup> | 715683 | 18285700 |
|  |  | 28520805 |
| **Wireless Telecommunication Services — 1.2%** | **Wireless Telecommunication Services — 1.2%** | **Wireless Telecommunication Services — 1.2%** |
| Telephone & Data Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; Series UU, 6.63%, NVS<sup>(b)</sup> | 1332180 | 25697752 |
| &nbsp;&nbsp;&nbsp; Series VV, 6.00%, NVS<sup>(b)</sup> | 2160677 | 38243983 |
| United States Cellular Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%<sup>(d)</sup> | 1565699 | 36997467 |
| &nbsp;&nbsp;&nbsp; 5.50% | 1565699 | 32128143 |
| &nbsp;&nbsp;&nbsp; 5.50% | 1565699 | 32112487 |
|  |  | 165179832 |
| **Total Long-Term Investments — 98.8%** <br>**(Cost: $15,528,966,753)** | **Total Long-Term Investments — 98.8%** <br>**(Cost: $15,528,966,753)** | 13450625623 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 2.4%** | **Money Market Funds — 2.4%** | **Money Market Funds — 2.4%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 4.47%<sup>(e)(f)(g)</sup><br>| 83102639 | 83135880 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.30%<sup>(e)(f)</sup><br>| 237267103 | 237267103 |
| **Total Short-Term Securities — 2.4%** <br>**(Cost: $320,385,759)** | **Total Short-Term Securities — 2.4%** <br>**(Cost: $320,385,759)** | 320402983 |
| **Total Investments — 101.2%** <br>**(Cost: $15,849,352,512)** | **Total Investments — 101.2%** <br>**(Cost: $15,849,352,512)** | 13771028606 |
| **Liabilities in Excess of Other Assets — (1.2)%** | **Liabilities in Excess of Other Assets — (1.2)%** | (157542668)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $13613485938 |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Convertible security.

<sup>(b)</sup> Perpetual security with no stated maturity date.

<sup>(c)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of period end. Security description also includes the reference rate and spread if published and available. 

<sup>(d)</sup> All or a portion of this security is on loan.

<sup>(e)</sup> Affiliate of the Fund.

<sup>(f)</sup> Annualized 7-day yield as of period end.

<sup>(g)</sup> All or a portion of this security was purchased with the cash collateral from loaned securities. 

------

Schedule of Investments (unaudited) (continued)

June 30, 2025

**iShares® Preferred and Income Securities ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended June 30, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*03/31/25*<br>| *Proceeds* <br>*from Sales*<br>| *Net* <br>*Realized* <br>*Gain* <br>*(Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*06/30/25*<br>| *Shares* <br>*Held at* <br>*06/30/25*<br>| *Income* | *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash <br> Funds: Institutional, SL <br> Agency Shares<br>| &nbsp;&nbsp; $40850184<br>&nbsp;&nbsp; $42289634 <br><sup>(a)</sup><br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(3426)<br>| &nbsp;&nbsp; $(512)<br>| &nbsp;&nbsp; $83135880 | &nbsp;&nbsp; 83102639 | &nbsp;&nbsp; $624640 <br><sup>(b)</sup><br>| &nbsp;&nbsp; $— |
| &nbsp;&nbsp;&nbsp; BlackRock Cash <br> Funds: Treasury, SL Agency <br> Shares<br>| &nbsp;&nbsp; 168468346<br>&nbsp;&nbsp; 68798757 <br><sup>(a)</sup><br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 237267103 | &nbsp;&nbsp; 237267103 | &nbsp;&nbsp; 933562 | &nbsp;&nbsp; — |
|  |  |  | &nbsp;&nbsp; $(3426)<br>| &nbsp;&nbsp; $(512)<br>| &nbsp;&nbsp; $320402983 |  | &nbsp;&nbsp; $1558202 | &nbsp;&nbsp; $— |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

<sup>(a)</sup> Represents net amount purchased (sold).

<sup>(b)</sup> All or a portion represents securities lending income earned from the reinvestment of cash collateral from loaned securities, net of collateral investment fees, and other payments to and from borrowers of securities. 

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments at the measurement date. These inputs to valuation techniques are categorized into a fair value hierarchy consisting of three broad levels for financial reporting purposes as follows:

&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 — Unadjusted price quotations in active markets/exchanges that the Fund has the ability to access for identical assets or liabilities;

&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 — Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 — Inputs that are unobservable and significant to the entire fair value measurement for the asset or liability (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety. Investments classified within Level 3 have significant unobservable inputs used by the Valuation Committee in determining the price for Fair Valued Investments. Level 3 investments include equity or debt issued by privately held companies or funds that may not have a secondary market and/or may have a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

The following table summarizes the Fund's financial instruments categorized in the fair value hierarchy. The breakdown of the Fund's financial instruments into major categories is disclosed in the Schedule of Investments above.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; $13450625623 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13450625623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 320402983 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 320402983 |
|  | &nbsp;&nbsp; $13771028606 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $— | &nbsp;&nbsp; $13771028606 |

---

------

Schedule of Investments (unaudited) (continued)

June 30, 2025

**iShares® Preferred and Income Securities ETF**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Portfolio Abbreviation**  | **Portfolio Abbreviation**  |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| LP | Limited Partnership |
| NVS | Non-Voting Shares |
| REIT | Real Estate Investment Trust |
| SOFR | Secured Overnight Financing Rate |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** iShares Trust

- **b. Investment Company Act file number:** 811-09729

- **c. CIK number of Registrant:** 0001100663

- **d. LEI of Registrant:** 5493000860OXIC4B5K91

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 400 Howard Street

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

  - **Telephone number:** 800-474-2737

**Item A.2. Information about the Series.**

- **a. Name of Series:** iShares Preferred and Income Securities ETF

- **b. EDGAR series identifier (if any):** S000013499

- **c. LEI of Series:** 549300YX74JNY54XCY80

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $13844403657.99

**Total Liabilities:** $87085889.28

**Net Assets:** $13757317768.71

**Cash Not Reported:** $360420.57

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000036528 | -1.00%               | 0.65%                | 1.71%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-96929542.22            | $-100375123.12                             |
| Month 2  | $-7309755.25             | $9873248.88                                |
| Month 3  | $-65144745.88            | $213175846.95                              |

### Schedule of Portfolio Investments

| Name                     | Title                                             | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| HUNTINGTON BANCSHARES    | Huntington Bancshares Inc/OH                      | CUSIP: 446150781<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |    554038 | NS      | $12266401.32  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMER MAC               | Federal Agricultural Mortgage Corp                | CUSIP: 313148843<br>LEI: 549300MS654K78GYF580 | Long             | EP               | USGSE             | US        |    379889 | NS      | $7476215.52   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC              | MetLife Inc                                       | CUSIP: 59156R876<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |   2548617 | NS      | $60121875.03  | 0.44%             |  |  |  | No            |                  1 | On Loan: —       |
| FTAI AVIATION LTD        | FTAI Aviation Ltd                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    332451 | NS      | $8351169.12   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| GLADSTONE INVESTMENT COR | Gladstone Investment Corp                         | CUSIP: 376546867<br>LEI: 549300HFFTVIBC98Z362 | Long             | EP               | CORP              | US        |    400474 | NS      | $10091944.80  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B622<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   2728960 | NS      | $54797516.80  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| PACIFIC GAS&ELEC         | Pacific Gas and Electric Co                       | CUSIP: 694308206<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | EP               | CORP              | US        |    333370 | NS      | $7307470.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNSTONE HOTEL INVESTORS | Sunstone Hotel Investors Inc                      | CUSIP: 867892887<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EP               | CORP              | US        |    323838 | NS      | $6036340.32   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| TRINITY CAPITAL INC/MD   | Trinity Capital Inc                               | CUSIP: 896442605<br>LEI: 549300YGT4SBRQYDVU48 | Long             | EP               | CORP              | US        |    370122 | NS      | $9297464.64   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| READY CAPITAL CORP       | Ready Capital Corp                                | CUSIP: 75574U838<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |    411563 | NS      | $9416561.44   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP | Citizens Financial Group Inc                      | CUSIP: 174610600<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EP               | CORP              | US        |   1266386 | NS      | $32850052.84  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSOC BANC-CORP          | Associated Banc-Corp                              | CUSIP: 045487600<br>LEI: 549300N3CIN473IW5094 | Long             | EP               | CORP              | US        |    949775 | NS      | $22348205.75  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST IV             | SCE Trust IV                                      | CUSIP: 78409G206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1028966 | NS      | $23192893.64  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| ARBOR REALTY TRUST INC   | Arbor Realty Trust Inc                            | CUSIP: 038923876<br>LEI: 549300ASFUWYQO0RW077 | Long             | EP               | CORP              | US        |    744079 | NS      | $12716310.11  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC | Prudential Financial Inc                          | CUSIP: 744320805<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EP               | CORP              | US        |   1788751 | NS      | $42053536.01  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL   | NextEra Energy Capital Holdings Inc               | CUSIP: 65339K837<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EP               | CORP              | US        |   2771200 | NS      | $69252288.00  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                   | CUSIP: 842587404<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |   1424698 | NS      | $30360314.38  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| TRITON INTERNATIONAL LTD | Triton International Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |    474917 | NS      | $10562154.08  | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| CTO REALTY GROWTH INC    | CTO Realty Growth Inc                             | CUSIP: 22948Q200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    381338 | NS      | $7676333.94   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505583<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    770332 | NS      | $15576113.04  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W685<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    886497 | NS      | $18031348.98  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN | Brighthouse Financial Inc                         | CUSIP: 10922N889<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |   1132454 | NS      | $15061638.20  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| POPULAR CAPITAL TRUST II | Popular Capital Trust II                          | CUSIP: 73317H206<br>LEI: N/A                  | Long             | EP               | CORP              | PR        |    319825 | NS      | $7902875.75   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP  | Chimera Investment Corp                           | CUSIP: 16934Q604<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |    647059 | NS      | $15581180.72  | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust                | CUSIP: 70931T509<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |    808891 | NS      | $15085817.15  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                  | KeyCorp                                           | CUSIP: 493267843<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |   1899547 | NS      | $45950041.93  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR PROPERTIES           | EPR Properties                                    | CUSIP: 26884U505<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |    474917 | NS      | $9897270.28   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| DILLARDS CAP TRUST I     | Dillard's Capital Trust I                         | CUSIP: 25406P200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    647058 | NS      | $16603508.28  | 0.12%             |  |  |  | No            |                  1 | On Loan: —       |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06053U601<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2768036 | NS      | $60398545.52  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD RENEWABLE PAR | Brookfield Renewable Partners LP                  | CUSIP: 000000000<br>LEI: VA8DFMRI2GY8Y7V79H93 | Long             | EP               | CORP              | CA        |    646375 | NS      | $11201678.75  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HP ENTERPRISE CO         | Hewlett Packard Enterprise Co                     | CUSIP: 42824C208<br>LEI: 549300BX44RGX6ANDV88 | Long             | EP               | CORP              | US        |   2374469 | NS      | $139808734.72 | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSTRATEGY INC        | MicroStrategy Inc                                 | CUSIP: 594972887<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |    813948 | NS      | $98495847.48  | 0.72%             |  |  |  | No            |                  1 | On Loan: —       |
| BROOKFIELD PROPERTY PART | Brookfield Property Partners LP                   | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | US        |    582494 | NS      | $8789834.46   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                     | CUSIP: 008252835<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    633152 | NS      | $9560595.20   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                  | CHS Inc                                           | CUSIP: 12542R308<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |   1698463 | NS      | $44007176.33  | 0.32%             |  |  |  | No            |                  1 | On Loan: —       |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W420<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |   1377182 | NS      | $21663072.86  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                  | KeyCorp                                           | CUSIP: 493267868<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |   1424698 | NS      | $30317573.44  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ALGONQUIN PWR & UTILITY  | Algonquin Power & Utilities Corp                  | CUSIP: 015857808<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EP               | CORP              | CA        |   1108080 | NS      | $27879292.80  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| MAIDEN HOLDING LTD       | Maiden Holdings Ltd                               | CUSIP: 560292302<br>LEI: 5493000GQUKNWGNXRZ91 | Long             | EP               | CORP              | BM        |    355873 | NS      | $5298948.97   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP  | Chimera Investment Corp                           | CUSIP: 16934Q505<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |    823146 | NS      | $18578405.22  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCHANTS BANCORP        | Merchants Bancorp/IN                              | CUSIP: 58844R884<br>LEI: 54930008Y0GPVLF81889 | Long             | EP               | CORP              | US        |    451124 | NS      | $11187875.20  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP          | CMS Energy Corp                                   | CUSIP: 125896837<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    728176 | NS      | $12495500.16  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W594<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    837180 | NS      | $15420855.60  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| UNITED STATES CELLULAR C | United States Cellular Corp                       | CUSIP: 911684702<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |   1583003 | NS      | $37406360.89  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W446<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    455098 | NS      | $7145038.60   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMOUR RESIDENTIAL REIT  | ARMOUR Residential REIT Inc                       | CUSIP: 042315606<br>LEI: 549300K0WA0EJUX74V72 | Long             | EP               | CORP              | US        |    553943 | NS      | $11300437.20  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKLEY (WR) CORPORATION | W R Berkley Corp                                  | CUSIP: 084423870<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EP               | CORP              | US        |    970632 | NS      | $15433048.80  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W669<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    949775 | NS      | $19014495.50  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ENSTAR GROUP LTD         | Enstar Group Ltd                                  | CUSIP: 29359U109<br>LEI: 213800AMAL5QFXVUCN04 | Long             | EP               | CORP              | BM        |   1266386 | NS      | $25467022.46  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD | Aspen Insurance Holdings Ltd                      | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |    841538 | NS      | $16881252.28  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP  | Valley National Bancorp                           | CUSIP: 919794305<br>LEI: 549300ET52S1UBIB9762 | Long             | EP               | CORP              | US        |    323541 | NS      | $7904106.63   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61761J406<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3161615 | NS      | $78408052.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP            | Allstate Corp/The                                 | CUSIP: 020002812<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |    949775 | NS      | $18102711.50  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP            | Allstate Corp/The                                 | CUSIP: 020002838<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |   3640862 | NS      | $75001757.20  | 0.55%             |  |  |  | No            |                  1 | On Loan: No      |
| QWEST CORP               | Qwest Corp                                        | CUSIP: 74913G881<br>LEI: 549300R2L4N683OO1509 | Long             | EP               | CORP              | US        |   3094704 | NS      | $55704672.00  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR & CO INC             | KKR & Co Inc                                      | CUSIP: 48251W500<br>LEI: 54930013V5I303TF9571 | Long             | EP               | CORP              | US        |   4095965 | NS      | $219543724.00 | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| CION INVESTMENT CORP     | CION Investment Corp                              | CUSIP: 17259U303<br>LEI: 549300XN70JLF94XKX80 | Long             | EP               | CORP              | US        |    474929 | NS      | $11673754.82  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD PROPERTY PART | Brookfield Property Partners LP                   | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | US        |    930293 | NS      | $12093809.00  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| INVESCO MORTGAGE CAPITAL | Invesco Mortgage Capital Inc                      | CUSIP: 46131B506<br>LEI: PV3BDP2HFZL2FNXQBL39 | Long             | EP               | CORP              | US        |    558400 | NS      | $12971632.00  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W396<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    791454 | NS      | $12837383.88  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 94988U151<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   5508862 | NS      | $104888732.48 | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST CITIZENS BANCSHARE | First Citizens BancShares Inc/NC                  | CUSIP: 319626305<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EP               | CORP              | US        |   1092244 | NS      | $23679849.92  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| GRANITE POINT MTGE TRST  | Granite Point Mortgage Trust Inc                  | CUSIP: 38741L305<br>LEI: 529900VX2HQZ76AYIE02 | Long             | EP               | CORP              | US        |    665713 | NS      | $11836377.14  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNSTONE HOTEL INVESTORS | Sunstone Hotel Investors Inc                      | CUSIP: 867892804<br>LEI: 529900ZQ2V52V96ATF67 | Long             | EP               | CORP              | US        |    370090 | NS      | $7446210.80   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL FINANCIAL CORP    | Stifel Financial Corp                             | CUSIP: 860630706<br>LEI: 549300E5F07FE5GHJX84 | Long             | EP               | CORP              | US        |    506519 | NS      | $11948783.21  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                        | CUSIP: 14040H774<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |    395726 | NS      | $6921247.74   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOVUS FINANCIAL CORP   | Synovus Financial Corp                            | CUSIP: 87161C709<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EP               | CORP              | US        |   1108080 | NS      | $28333605.60  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                     | CUSIP: 008252843<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    870642 | NS      | $14739969.06  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| REGIONS FINANCIAL CORP   | Regions Financial Corp                            | CUSIP: 7591EP886<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |   1266386 | NS      | $21756511.48  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SL GREEN REALTY CORP     | SL Green Realty Corp                              | CUSIP: 78440X507<br>LEI: 549300VQZPJU97H3GT17 | Long             | EP               | CORP              | US        |    728186 | NS      | $15881736.66  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OZK                 | Bank OZK                                          | CUSIP: 06417N202<br>LEI: 549300VYK2WBD7SST478 | Long             | EP               | CORP              | US        |   1132454 | NS      | $18289132.10  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY       | Ford Motor Co                                     | CUSIP: 345370837<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |   2532781 | NS      | $52656516.99  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE | Hudson Pacific Properties Inc                     | CUSIP: 444097307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1375123 | NS      | $20434327.78  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| TWO HARBORS INV CORP     | Two Harbors Investment Corp                       | CUSIP: 90187B200<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EP               | CORP              | US        |    399712 | NS      | $9181384.64   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| FLAGSTAR FINANCIAL INC   | Flagstar Financial Inc                            | CUSIP: 649445202<br>LEI: 529900HVXOTLY61GL030 | Long             | EP               | CORP              | US        |   1630445 | NS      | $33603471.45  | 0.24%             |  |  |  | No            |                  1 | On Loan: —       |
| BROOKFIELD INFRASTRUCTUR | Brookfield Infrastructure Partners LP             | CUSIP: 000000000<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |    647058 | NS      | $10197634.08  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP         | Duke Energy Corp                                  | CUSIP: 26441C402<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EP               | CORP              | US        |   1583003 | NS      | $37311380.71  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| CHART INDUSTRIES INC     | Chart Industries Inc                              | CUSIP: 16115Q407<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EP               | CORP              | US        |    637134 | NS      | $38482893.60  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W578<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    728176 | NS      | $13777089.92  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06055H871<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   1370802 | NS      | $26675806.92  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W628<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |   1001267 | NS      | $19144225.04  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC    | B Riley Financial Inc                             | CUSIP: 05580M801<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |    571559 | NS      | $7030175.70   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                       | CUSIP: 38144X609<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |    633149 | NS      | $13473410.72  | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| REGIONS FINANCIAL CORP   | Regions Financial Corp                            | CUSIP: 7591EP704<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |   1583003 | NS      | $37786281.61  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP      | Fifth Third Bancorp                               | CUSIP: 316773886<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |    633149 | NS      | $15284216.86  | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| ELLINGTON FINANCIAL      | Ellington Financial Inc                           | CUSIP: 28852N208<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EP               | CORP              | US        |    364053 | NS      | $8962984.86   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust                | CUSIP: 70931T301<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |    364053 | NS      | $8547964.44   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| QVC INC                  | QVC Inc                                           | CUSIP: 747262301<br>LEI: 549300WBLU5NKPX5X472 | Long             | EP               | CORP              | US        |    712340 | NS      | $7166140.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| NGL ENERGY PARTNERS LP   | NGL Energy Partners LP                            | CUSIP: 62913M206<br>LEI: 5299005YSRP46BE8Z459 | Long             | EP               | CORP              | US        |   1145862 | NS      | $25151670.90  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505179<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2053325 | NS      | $51641123.75  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCHANTS BANCORP        | Merchants Bancorp/IN                              | CUSIP: 58844R850<br>LEI: 54930008Y0GPVLF81889 | Long             | EP               | CORP              | US        |    744078 | NS      | $17113794.00  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MORTGAGE TRUST  | New York Mortgage Trust Inc                       | CUSIP: 649604865<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               | CORP              | US        |    454338 | NS      | $9609248.70   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MERCHANTS BANCORP        | Merchants Bancorp/IN                              | CUSIP: 58844R702<br>LEI: 54930008Y0GPVLF81889 | Long             | EP               | CORP              | US        |    634848 | NS      | $12316051.20  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS DIVERSIF HOLDING | Compass Diversified Holdings                      | CUSIP: 20451Q302<br>LEI: 5299001SM1LBYANJRR58 | Long             | EP               | CORP              | US        |    594027 | NS      | $11037021.66  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON BANCSHARES    | Huntington Bancshares Inc/OH                      | CUSIP: 446150823<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |   1583003 | NS      | $27797532.68  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC              | MetLife Inc                                       | CUSIP: 59156R504<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |   1899547 | NS      | $44031499.46  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| DIAMONDROCK HOSPITALITY  | DiamondRock Hospitality Co                        | CUSIP: 252784400<br>LEI: 529900KKD4BPVBUAQ734 | Long             | EP               | CORP              | US        |    384938 | NS      | $9419432.86   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS L | RenaissanceRe Holdings Ltd                        | CUSIP: 75968N309<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |    808891 | NS      | $17148489.20  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROSTRATEGY INC        | MicroStrategy Inc                                 | CUSIP: 594972879<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EP               | CORP              | US        |    685455 | NS      | $77559233.25  | 0.56%             |  |  |  | No            |                  1 | On Loan: —       |
| B RILEY FINANCIAL INC    | B Riley Financial Inc                             | CUSIP: 05580M835<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |    810658 | NS      | $4920694.06   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD   | Arch Capital Group Ltd                            | CUSIP: 03939A107<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | BM        |   1044726 | NS      | $21427330.26  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q609<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |    744025 | NS      | $18489021.25  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| MIDLAND STATES BANCORP   | Midland States Bancorp Inc                        | CUSIP: 597742303<br>LEI: 5493006RHXW9TTBWYC94 | Long             | EP               | CORP              | US        |    364053 | NS      | $8056492.89   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                  | CHS Inc                                           | CUSIP: 12542R704<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |   1559207 | NS      | $37109126.60  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| PG&E CORP                | PG&E Corp                                         | CUSIP: 69331C306<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | EP               | CORP              | US        |   2548617 | NS      | $95827999.20  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| UMH PROPERTIES INC       | UMH Properties Inc                                | CUSIP: 903002509<br>LEI: 529900OM5K3PJ11F0Q09 | Long             | EP               | CORP              | US        |   1032612 | NS      | $22500615.48  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN NATIONAL GROUP  | American National Group Inc                       | CUSIP: 025676859<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |    949775 | NS      | $24760634.25  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| RLJ LODGING TRUST        | RLJ Lodging Trust                                 | CUSIP: 74965L200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1019402 | NS      | $24119051.32  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST     | Vornado Realty Trust                              | CUSIP: 929042810<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    970633 | NS      | $16025150.83  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06055H806<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2537509 | NS      | $43898905.70  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP       | Rithm Capital Corp                                | CUSIP: 64828T508<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |   1258736 | NS      | $30839032.00  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRA FIN ULC | Brookfield Infrastructure Finance ULC             | CUSIP: 11276B208<br>LEI: N/A                  | Long             | EP               | CORP              | CA        |    511146 | NS      | $11429224.56  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY CO            | DTE Energy Co                                     | CUSIP: 233331859<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |   1266386 | NS      | $26594106.00  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BABCOCK & WILCOX ENTERPR | Babcock & Wilcox Enterprises Inc                  | CUSIP: 05614L308<br>LEI: 5493006H661OZN2C0T54 | Long             | EP               | CORP              | US        |    345060 | NS      | $6728670.00   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA FINANCIAL INC        | MFA Financial Inc                                 | CUSIP: 55272X508<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |    870655 | NS      | $20477805.60  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIZENS FINANCIAL GROUP | Citizens Financial Group Inc                      | CUSIP: 174610402<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EP               | CORP              | US        |   1424698 | NS      | $26713087.50  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                 | AT&T Inc                                          | CUSIP: 00206R300<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |   4186942 | NS      | $92950112.40  | 0.68%             |  |  |  | No            |                  1 | On Loan: No      |
| HARTFORD INSUR GRP INC/T | Hartford Insurance Group Inc/The                  | CUSIP: 416518603<br>LEI: IU7C3FTM7Y3BQM112U94 | Long             | EP               | CORP              | US        |   1092252 | NS      | $27098772.12  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| QVC GROUP INC            | QVC Group Inc                                     | CUSIP: 74915M308<br>LEI: 549300PSXEKU4PHLCR04 | Long             | EP               | CORP              | US        |   1028816 | NS      | $7067965.92   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT | Apollo Global Management Inc                      | CUSIP: 03769M304<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |   2275536 | NS      | $170323869.60 | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| UNUM GROUP               | Unum Group                                        | CUSIP: 91529Y601<br>LEI: 549300E32YFDO6TZ8R31 | Long             | EP               | CORP              | US        |    949775 | NS      | $21721354.25  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY NEW ORLEANS LLC  | Entergy New Orleans LLC                           | CUSIP: 29364P103<br>LEI: 1Q8BAFRNDFTDI3IGJH73 | Long             | EP               | CORP              | US        |    355917 | NS      | $7698484.71   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TENN VALLEY AUTHORITY    | Tennessee Valley Authority                        | CUSIP: 880591409<br>LEI: 549300HE1ISW43LNKM54 | Long             | EP               | USGA              | US        |    674163 | NS      | $15707997.90  | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| DYNEX CAPITAL INC        | Dynex Capital Inc                                 | CUSIP: 26817Q878<br>LEI: 5CIJ4S9HAEBWILA19B65 | Long             | EP               | CORP              | US        |    360789 | NS      | $9203727.39   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRA FIN ULC | Brookfield Infrastructure Finance ULC             | CUSIP: 11276B109<br>LEI: N/A                  | Long             | EP               | CORP              | CA        |    808891 | NS      | $12829011.26  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| BIP BERMUDA HOLDINGS I   | BIP Bermuda Holdings I Ltd                        | CUSIP: 05554M100<br>LEI: 549300Y8SLOLKXX0MZ44 | Long             | EP               | CORP              | BM        |    970632 | NS      | $15792182.64  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC    | B Riley Financial Inc                             | CUSIP: 05580M819<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |   1267894 | NS      | $7810227.04   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| COREBRIDGE FINANCIAL INC | Corebridge Financial Inc                          | CUSIP: 21871X208<br>LEI: 549300XY1661QCIA7J65 | Long             | EP               | CORP              | US        |   1899547 | NS      | $43689581.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP       | Rithm Capital Corp                                | CUSIP: 64828T300<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |    333217 | NS      | $8447050.95   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| REINSURANCE GRP OF AMER  | Reinsurance Group of America Inc                  | CUSIP: 759351802<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EP               | CORP              | US        |   1266386 | NS      | $31089776.30  | 0.23%             |  |  |  | No            |                  1 | On Loan: —       |
| BROOKFIELD BRP HOLDINGS  | Brookfield BRP Holdings Canada Inc                | CUSIP: 11259P307<br>LEI: 549300NSPD7QJ50GZW26 | Long             | EP               | CORP              | CA        |    474920 | NS      | $11022893.20  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                 | AT&T Inc                                          | CUSIP: 00206R706<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |   5540408 | NS      | $105821792.80 | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL FINANCIAL CORP    | Stifel Financial Corp                             | CUSIP: 860630607<br>LEI: 549300E5F07FE5GHJX84 | Long             | EP               | CORP              | US        |    727975 | NS      | $16015450.00  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| DIME COMMUNITY BANCSHARE | Dime Community Bancshares Inc                     | CUSIP: 25432X201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    419445 | NS      | $8011399.50   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61747S504<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3478026 | NS      | $74186294.58  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST  | Pebblebrook Hotel Trust                           | CUSIP: 70509V704<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |    485295 | NS      | $8516927.25   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505815<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    580625 | NS      | $12541500.00  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL STORAGE AFFILIA | National Storage Affiliates Trust                 | CUSIP: 637870205<br>LEI: 529900FS06O8GOYNR108 | Long             | EP               | CORP              | US        |    730445 | NS      | $16325445.75  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC       | NextEra Energy Inc                                | CUSIP: 65339F119<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |   2374469 | NS      | $105070253.25 | 0.76%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN ALLIANCE BANCORP | Western Alliance Bancorp                          | CUSIP: 957638406<br>LEI: 5493003VJXZ5JXT9S762 | Long             | EP               | CORP              | US        |    949775 | NS      | $20724090.50  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD NATL BANCORP         | Old National Bancorp/IN                           | CUSIP: 68003D204<br>LEI: 549300MMK90CL5KMVX16 | Long             | EP               | CORP              | US        |    341939 | NS      | $8521119.88   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| REGIONS FINANCIAL CORP   | Regions Financial Corp                            | CUSIP: 7591EP860<br>LEI: CW05CS5KW59QTC0DG824 | Long             | EP               | CORP              | US        |   1583003 | NS      | $39337624.55  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                  | CHS Inc                                           | CUSIP: 12542R803<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |   1638401 | NS      | $41353241.24  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| WEBSTER FINANCIAL CORP   | Webster Financial Corp                            | CUSIP: 947890703<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EP               | CORP              | US        |    427408 | NS      | $9903043.36   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ARES MANAGEMENT CORP     | Ares Management Corp                              | CUSIP: 03990B309<br>LEI: 529900JUV61FH7B8VW38 | Long             | EP               | CORP              | US        |   2374469 | NS      | $125846857.00 | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| KEMPER CORP              | Kemper Corp                                       | CUSIP: 488401308<br>LEI: 549300FNI1JKTRY2PV09 | Long             | EP               | CORP              | US        |    485316 | NS      | $11647584.00  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LIBERTY BROADBAND CORP   | Liberty Broadband Corp                            | CUSIP: 530307503<br>LEI: 549300MIX43II8JLN536 | Long             | EP               | CORP              | US        |    579613 | NS      | $14461344.35  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MGMT      | Annaly Capital Management Inc                     | CUSIP: 035710847<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |   1400909 | NS      | $35288897.71  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HOLDINGS INC   | Equitable Holdings Inc                            | CUSIP: 29452E200<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EP               | CORP              | US        |   2535328 | NS      | $51796751.04  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| MICROCHIP TECHNOLOGY INC | Microchip Technology Inc                          | CUSIP: 595017302<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EP               | CORP              | US        |   2350750 | NS      | $156653980.00 | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V606<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3159352 | NS      | $73928836.80  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                  | CHS Inc                                           | CUSIP: 12542R506<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |   1329664 | NS      | $32643251.20  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T BANK CORPORATION     | M&T Bank Corp                                     | CUSIP: 55261F864<br>LEI: 549300WYXDDBYRASEG81 | Long             | EP               | CORP              | US        |   2374469 | NS      | $62211087.80  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL NET LEASE INC     | Global Net Lease Inc                              | CUSIP: 379378409<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |    386842 | NS      | $8096603.06   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| NY COMUNITY CAP TRUST V  | New York Community Capital Trust V                | CUSIP: 64944P307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    229543 | NS      | $8828223.78   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUNSWICK CORP           | Brunswick Corp/DE                                 | CUSIP: 117043406<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EP               | CORP              | US        |    585710 | NS      | $14285466.90  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP | American Financial Group Inc/OH                   | CUSIP: 025932807<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EP               | CORP              | US        |    395726 | NS      | $8436878.32   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06055H202<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2545576 | NS      | $51700648.56  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 95002Y202<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   2777742 | NS      | $48777149.52  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY CO            | DTE Energy Co                                     | CUSIP: 233331818<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |    905900 | NS      | $15436536.00  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD FINANCE INC   | Brookfield Finance Inc                            | CUSIP: 11271L102<br>LEI: 549300XH8D8K6OYWGD17 | Long             | EP               | CORP              | CA        |   1266386 | NS      | $19451688.96  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CONNECTONE BANCORP INC   | ConnectOne Bancorp Inc                            | CUSIP: 20786W503<br>LEI: 549300E2M5ZYAZKUK134 | Long             | EP               | CORP              | US        |    372159 | NS      | $8414514.99   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| EQUITABLE HOLDINGS INC   | Equitable Holdings Inc                            | CUSIP: 29452E408<br>LEI: 549300FIBAKMNHPZ4009 | Long             | EP               | CORP              | US        |    950729 | NS      | $16209929.45  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC | Prudential Financial Inc                          | CUSIP: 744320870<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EP               | CORP              | US        |    949775 | NS      | $23677890.75  | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust                | CUSIP: 70931T400<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |    630954 | NS      | $14568727.86  | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| VORNADO REALTY TRUST     | Vornado Realty Trust                              | CUSIP: 929042794<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    949763 | NS      | $13676587.20  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN | Brighthouse Financial Inc                         | CUSIP: 10922N202<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |   1187195 | NS      | $22651680.60  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP          | CMS Energy Corp                                   | CUSIP: 125896860<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    633149 | NS      | $13536725.62  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505591<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    385090 | NS      | $8337198.50   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| WINTRUST FINANCIAL CORP  | Wintrust Financial Corp                           | CUSIP: 97650W504<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EP               | CORP              | US        |    910216 | NS      | $23101282.08  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENCY CENTERS CORP     | Regency Centers Corp                              | CUSIP: 758849871<br>LEI: 529900053A7X7FJ97S58 | Long             | EP               | CORP              | US        |    364053 | NS      | $8176630.38   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ACRES COMMERCIAL REALTY  | ACRES Commercial Realty Corp                      | CUSIP: 00489Q300<br>LEI: 549300RUJWPCMY4JFR46 | Long             | EP               | CORP              | US        |    364778 | NS      | $8054298.24   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG OPERATING GROUP II   | TPG Operating Group II LP                         | CUSIP: 872652102<br>LEI: 2549001H9RJQNZT7MU11 | Long             | EP               | CORP              | US        |   1266386 | NS      | $31950918.78  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSOC BANC-CORP          | Associated Banc-Corp                              | CUSIP: 045487402<br>LEI: 549300N3CIN473IW5094 | Long             | EP               | CORP              | US        |    335766 | NS      | $6617947.86   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CITY OFFICE REIT         | City Office REIT Inc                              | CUSIP: 178587200<br>LEI: 5493003J7157VP25NL57 | Long             | EP               | CORP              | CA        |    355510 | NS      | $6911114.40   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 949746804<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |    272722 | NS      | $320211081.86 | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| DUKE ENERGY CORP         | Duke Energy Corp                                  | CUSIP: 26441C501<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EP               | CORP              | US        |   3165939 | NS      | $76995636.48  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| READY CAPITAL CORP       | Ready Capital Corp                                | CUSIP: 75574U606<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |    417385 | NS      | $10242627.90  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUIST FINANCIAL CORP    | Truist Financial Corp                             | CUSIP: 89832Q745<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |   1820429 | NS      | $38174396.13  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMCO REALTY CORP        | Kimco Realty Corp                                 | CUSIP: 49446R737<br>LEI: 254900ARY41P4V1JL861 | Long             | EP               | CORP              | US        |    720082 | NS      | $14149611.30  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP            | Allstate Corp/The                                 | CUSIP: 020002309<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |   1583003 | NS      | $40857307.43  | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| WINTRUST FINANCIAL CORP  | Wintrust Financial Corp                           | CUSIP: 97650W702<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EP               | CORP              | US        |   1345950 | NS      | $34456320.00  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B549<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   5697372 | NS      | $111383622.60 | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST V              | SCE Trust V                                       | CUSIP: 78409W201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    949775 | NS      | $21654870.00  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBE LIFE INC           | Globe Life Inc                                    | CUSIP: 37959E300<br>LEI: 5493001JFHKQOPP6XA71 | Long             | EP               | CORP              | US        |   1051549 | NS      | $16929938.90  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G ANNUITIES & LIFE INC | F&G Annuities & Life Inc                          | CUSIP: 30190A203<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1092245 | NS      | $28158076.10  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| GLADSTONE INVESTMENT COR | Gladstone Investment Corp                         | CUSIP: 376546800<br>LEI: 549300HFFTVIBC98Z362 | Long             | EP               | CORP              | US        |    405061 | NS      | $10090069.51  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505625<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    561535 | NS      | $11236315.35  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V804<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   1541498 | NS      | $30490830.44  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| SEMPRA                   | Sempra                                            | CUSIP: 816851604<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EP               | CORP              | US        |   2398192 | NS      | $49282845.60  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP      | Charles Schwab Corp/The                           | CUSIP: 808513865<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |   1899547 | NS      | $35977420.18  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA FINANCIAL INC        | MFA Financial Inc                                 | CUSIP: 55272X706<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |    363975 | NS      | $9044778.75   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W552<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |   1788750 | NS      | $32662575.00  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06055H400<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2091749 | NS      | $37567812.04  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TPG RE FINANCE TRUST INC | TPG RE Finance Trust Inc                          | CUSIP: 87266M206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    651282 | NS      | $11136922.20  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD BRP HOLDINGS  | Brookfield BRP Holdings Canada Inc                | CUSIP: 11259P109<br>LEI: 549300NSPD7QJ50GZW26 | Long             | EP               | CORP              | CA        |   1132744 | NS      | $17840718.00  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC       | NextEra Energy Inc                                | CUSIP: 65339F713<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |   3165947 | NS      | $125814733.78 | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST  | Pebblebrook Hotel Trust                           | CUSIP: 70509V605<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |    356074 | NS      | $6252659.44   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| VOYA FINANCIAL INC       | Voya Financial Inc                                | CUSIP: 929089209<br>LEI: 549300T065Z4KJ686G75 | Long             | EP               | CORP              | US        |    949775 | NS      | $22604645.00  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ENSTAR GROUP LTD         | Enstar Group Ltd                                  | CUSIP: 29359U208<br>LEI: 213800AMAL5QFXVUCN04 | Long             | EP               | CORP              | BM        |    344157 | NS      | $7055218.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP          | CMS Energy Corp                                   | CUSIP: 125896852<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |    886497 | NS      | $19529528.91  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CHS INC                  | CHS Inc                                           | CUSIP: 12542R209<br>LEI: XEIEFTLYDQ1MZ6TZV015 | Long             | EP               | CORP              | US        |    971350 | NS      | $26760692.50  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD OAKTREE HLDGS | Brookfield Oaktree Holdings LLC                   | CUSIP: 674001300<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | US        |    569874 | NS      | $13101403.26  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| NORTHERN TRUST CORP      | Northern Trust Corp                               | CUSIP: 665859856<br>LEI: 549300GLF98S992BC502 | Long             | EP               | CORP              | US        |   1266386 | NS      | $24770510.16  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V853<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3162639 | NS      | $81374701.47  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| CNO FINANCIAL GROUP INC  | CNO Financial Group Inc                           | CUSIP: 12621E301<br>LEI: 11XPYHB76MPM4Y4P2897 | Long             | EP               | CORP              | US        |    485317 | NS      | $8362011.91   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| TRITON INTERNATIONAL LTD | Triton International Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |    486825 | NS      | $11610776.25  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| TRITON INTERNATIONAL LTD | Triton International Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |    554037 | NS      | $10499001.15  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| KKR REAL ESTATE FIN      | KKR Real Estate Finance Trust Inc                 | CUSIP: 48251K209<br>LEI: 549300K23AYZDZ2REL62 | Long             | EP               | CORP              | US        |   1037612 | NS      | $20959762.40  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY MISSISSIPPI LLC  | Entergy Mississippi LLC                           | CUSIP: 29364N108<br>LEI: 54930043I78H35DVVW89 | Long             | EP               | CORP              | US        |    841404 | NS      | $16878564.24  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS DIVERSIF HOLDING | Compass Diversified Holdings                      | CUSIP: 20451Q401<br>LEI: 5299001SM1LBYANJRR58 | Long             | EP               | CORP              | US        |    624285 | NS      | $11767772.25  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SAUL CENTERS INC         | Saul Centers Inc                                  | CUSIP: 804395879<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    355872 | NS      | $7448400.96   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY ARKANSAS LLC     | Entergy Arkansas LLC                              | CUSIP: 29364D100<br>LEI: 549300A0I5ONUIFMLP35 | Long             | EP               | CORP              | US        |   1298068 | NS      | $26220973.60  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| EL PASO ENERGY CAP TRST  | El Paso Energy Capital Trust I                    | CUSIP: 283678209<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    356739 | NS      | $17412430.59  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD OAKTREE HLDGS | Brookfield Oaktree Holdings LLC                   | CUSIP: 674001409<br>LEI: 254900T1ODNFOK2L6090 | Long             | EP               | CORP              | US        |    760488 | NS      | $16593848.16  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| GLADSTONE INVESTMENT COR | Gladstone Investment Corp                         | CUSIP: 376546883<br>LEI: 549300HFFTVIBC98Z362 | Long             | EP               | CORP              | US        |    425949 | NS      | $9762751.08   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TWO HARBORS INV CORP     | Two Harbors Investment Corp                       | CUSIP: 90187B887<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EP               | CORP              | US        |    364091 | NS      | $9320729.60   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| STIFEL FINANCIAL CORP    | Stifel Financial Corp                             | CUSIP: 860630870<br>LEI: 549300E5F07FE5GHJX84 | Long             | EP               | CORP              | US        |    727974 | NS      | $16466771.88  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MGMT      | Annaly Capital Management Inc                     | CUSIP: 035710862<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |   1345507 | NS      | $33301298.25  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ALBEMARLE CORP           | Albemarle Corp                                    | CUSIP: 012653200<br>LEI: HDBLS2Q6GV1LSKQPBS54 | Long             | EP               | CORP              | US        |   3640862 | NS      | $116871670.20 | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| CULLEN/FROST BANKERS INC | Cullen/Frost Bankers Inc                          | CUSIP: 229899307<br>LEI: 529900V2E9G9AY665O34 | Long             | EP               | CORP              | US        |    474917 | NS      | $8277803.31   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSOC BANC-CORP          | Associated Banc-Corp                              | CUSIP: 045487204<br>LEI: 549300N3CIN473IW5094 | Long             | EP               | CORP              | US        |    316609 | NS      | $6525311.49   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUIST FINANCIAL CORP    | Truist Financial Corp                             | CUSIP: 89832Q695<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |   2928513 | NS      | $55524606.48  | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MORTGAGE TRUST  | New York Mortgage Trust Inc                       | CUSIP: 649604873<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               | CORP              | US        |    593964 | NS      | $14581816.20  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW MOUNTAIN FINANCE COR | New Mountain Finance Corp                         | CUSIP: 647551308<br>LEI: 549300L1MPTT1H7SES77 | Long             | EP               | CORP              | US        |    364053 | NS      | $9268789.38   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD INFRASTRUCTUR | Brookfield Infrastructure Partners LP             | CUSIP: 000000000<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EP               | CORP              | BM        |    647058 | NS      | $10825280.34  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| LINCOLN NATIONAL CORP    | Lincoln National Corp                             | CUSIP: 534187885<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EP               | CORP              | US        |   1583003 | NS      | $42123709.83  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP | American Financial Group Inc/OH                   | CUSIP: 025932872<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EP               | CORP              | US        |    474917 | NS      | $9807036.05   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                | CUSIP: 04686J507<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1583003 | NS      | $40509046.77  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD PROP PFD LP   | Brookfield Property Preferred LP                  | CUSIP: 000000000<br>LEI: 254900N07TR905Y0G344 | Long             | EP               | CORP              | CA        |   2124728 | NS      | $31637199.92  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| RENAISSANCERE HOLDINGS L | RenaissanceRe Holdings Ltd                        | CUSIP: 000000000<br>LEI: EK6GB9U3U58PDI411C94 | Long             | EP               | CORP              | BM        |   1583003 | NS      | $24615696.65  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NATIONAL RURAL UTIL COOP | National Rural Utilities Cooperative Finance Corp | CUSIP: 637432105<br>LEI: 4NYF266XZC35SCTGX023 | Long             | EP               | CORP              | US        |    791463 | NS      | $18884307.18  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973668<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   1424698 | NS      | $26086220.38  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP | American Financial Group Inc/OH                   | CUSIP: 025932864<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EP               | CORP              | US        |    633149 | NS      | $10750870.02  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 06055H608<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   1821934 | NS      | $30936439.32  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| ALLSTATE CORP            | Allstate Corp/The                                 | CUSIP: 020002788<br>LEI: OBT0W1ED8G0NWVOLOJ77 | Long             | EP               | CORP              | US        |   1899547 | NS      | $49559181.23  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| M&T BANK CORPORATION     | M&T Bank Corp                                     | CUSIP: 55261F872<br>LEI: 549300WYXDDBYRASEG81 | Long             | EP               | CORP              | US        |    791464 | NS      | $20174417.36  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN NATIONAL GROUP  | American National Group Inc                       | CUSIP: 025676867<br>LEI: 549300RK5RZQ740FPL83 | Long             | EP               | CORP              | US        |    949775 | NS      | $23839352.50  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP       | Rithm Capital Corp                                | CUSIP: 64828T409<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |    891240 | NS      | $22459248.00  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF HAWAII CORP      | Bank of Hawaii Corp                               | CUSIP: 062540307<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EP               | CORP              | US        |    522889 | NS      | $13668318.46  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE ENERGY CO            | DTE Energy Co                                     | CUSIP: 233331826<br>LEI: 549300IX8SD6XXD71I78 | Long             | EP               | CORP              | US        |    728176 | NS      | $12539190.72  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ARMADA HOFFLER PROPERTIE | Armada Hoffler Properties Inc                     | CUSIP: 04208T207<br>LEI: 549300WQRSIV6XZT9313 | Long             | EP               | CORP              | US        |    553707 | NS      | $11960071.20  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMER MAC               | Federal Agricultural Mortgage Corp                | CUSIP: 313148868<br>LEI: 549300MS654K78GYF580 | Long             | EP               | USGSE             | US        |    316611 | NS      | $6819800.94   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V200<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   2719833 | NS      | $68621386.59  | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| WESBANCO INC             | WesBanco Inc                                      | CUSIP: 950810705<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    474917 | NS      | $11991654.25  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TEXAS CAPITAL BANCSHARES | Texas Capital Bancshares Inc                      | CUSIP: 88224Q305<br>LEI: 549300466Q2SXRX0YM48 | Long             | EP               | CORP              | US        |    949775 | NS      | $20182718.75  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| FULTON FINANCIAL CORP    | Fulton Financial Corp                             | CUSIP: 360271308<br>LEI: 5493005QLZ6O1BNC0C11 | Long             | EP               | CORP              | US        |    633794 | NS      | $11471671.40  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q856<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |    474917 | NS      | $11801687.45  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| GEORGIA POWER CO         | Georgia Power Co                                  | CUSIP: 373334440<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | EP               | CORP              | US        |    854818 | NS      | $17557961.72  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST  | Pebblebrook Hotel Trust                           | CUSIP: 70509V803<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |    744079 | NS      | $13058586.45  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                        | CUSIP: 14040H824<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |   4748942 | NS      | $89755003.80  | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| LXP INDUSTRIAL TRUST     | LXP Industrial Trust                              | CUSIP: 529043309<br>LEI: 549300S4MH2ICXDBFV43 | Long             | EP               | CORP              | US        |    156628 | NS      | $7253442.68   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FRANKLIN BSP REALTY TRST | Franklin BSP Realty Trust Inc                     | CUSIP: 35243J200<br>LEI: 549300LH3QNZK9Y1KC93 | Long             | EP               | CORP              | US        |    835427 | NS      | $16892333.94  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CRESCENT CAPITAL BDC INC | Crescent Capital BDC Inc                          | CUSIP: 225655208<br>LEI: 549300VPIZMU6OEE0V68 | Long             | EP               | CORP              | US        |    353339 | NS      | $8678005.84   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BABCOCK & WILCOX ENTERPR | Babcock & Wilcox Enterprises Inc                  | CUSIP: 05614L506<br>LEI: 5493006H661OZN2C0T54 | Long             | EP               | CORP              | US        |    328037 | NS      | $5179704.23   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP  | Chimera Investment Corp                           | CUSIP: 16934Q406<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |   1028966 | NS      | $25127349.72  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| FARMER MAC               | Federal Agricultural Mortgage Corp                | CUSIP: 313148835<br>LEI: 549300MS654K78GYF580 | Long             | EP               | USGSE             | US        |    395726 | NS      | $7221999.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| RITHM CAPITAL CORP       | Rithm Capital Corp                                | CUSIP: 64828T706<br>LEI: 549300WNTHGEO5LP2G31 | Long             | EP               | CORP              | US        |   1472140 | NS      | $35243031.60  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT HOTEL PROPERTIES  | Summit Hotel Properties Inc                       | CUSIP: 866082704<br>LEI: 254900OBQWJK6X20LS71 | Long             | EP               | CORP              | US        |    316615 | NS      | $5623082.40   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| SEAPEAK LLC              | Seapeak LLC                                       | CUSIP: 000000000<br>LEI: 549300CP38L0UER0I397 | Long             | EP               | CORP              | BM        |    533615 | NS      | $13265668.90  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                   | CUSIP: 842587800<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |   3165939 | NS      | $62685592.20  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| REINSURANCE GRP OF AMER  | Reinsurance Group of America Inc                  | CUSIP: 759351885<br>LEI: LORM1GNEU1DKEW527V90 | Long             | EP               | CORP              | US        |   2216133 | NS      | $56378423.52  | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| REGENCY CENTERS CORP     | Regency Centers Corp                              | CUSIP: 758849889<br>LEI: 529900053A7X7FJ97S58 | Long             | EP               | CORP              | US        |    364053 | NS      | $8635337.16   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BANC OF CALIFORNIA INC   | Banc of California Inc                            | CUSIP: 05990K841<br>LEI: 549300ZKWUJDP6LJ1X87 | Long             | EP               | CORP              | US        |   1624937 | NS      | $39160981.70  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST VIII           | SCE Trust VIII                                    | CUSIP: 80620A208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1108080 | NS      | $23735073.60  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V838<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   3163399 | NS      | $81773864.15  | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKLEY (WR) CORPORATION | W R Berkley Corp                                  | CUSIP: 084423805<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EP               | CORP              | US        |    949775 | NS      | $19422898.75  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO/THE            | Boeing Co/The                                     | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |   9102155 | NS      | $618946540.00 | 4.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                        | CUSIP: 14040H733<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |   1345507 | NS      | $21999039.45  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| ELLINGTON FINANCIAL      | Ellington Financial Inc                           | CUSIP: 28852N406<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EP               | CORP              | US        |    316615 | NS      | $7690578.35   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                   | CUSIP: 842587883<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |   2374469 | NS      | $41719420.33  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| SOUTHERN CO              | Southern Co/The                                   | CUSIP: 842587867<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EP               | CORP              | US        |   1788750 | NS      | $45935100.00  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| PROSPECT CAPITAL CORP    | Prospect Capital Corp                             | CUSIP: 74348T565<br>LEI: 549300FSD8T39P5Q0O47 | Long             | EP               | CORP              | US        |    415621 | NS      | $6442125.50   | 0.05%             |  |  |  | No            |                  1 | On Loan: —       |
| BANK OF HAWAII CORP      | Bank of Hawaii Corp                               | CUSIP: 062545207<br>LEI: 5493006Q8BQ8AD8M2U33 | Long             | EP               | CORP              | US        |    587374 | NS      | $9321625.38   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| METLIFE INC              | MetLife Inc                                       | CUSIP: 59156R850<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | EP               | CORP              | US        |   3165939 | NS      | $61704151.11  | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL NET LEASE INC     | Global Net Lease Inc                              | CUSIP: 379378508<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |    627944 | NS      | $14505506.40  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK CASH FUNDS     | BLACKROCK CASH FUNDS                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        | 237267103 | NS      | $237267102.75 | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| ASSURANT INC             | Assurant Inc                                      | CUSIP: 04621X306<br>LEI: H3F39CAXWQRVWURFXL38 | Long             | EP               | CORP              | US        |    808891 | NS      | $17350711.95  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP  | Valley National Bancorp                           | CUSIP: 919794206<br>LEI: 549300ET52S1UBIB9762 | Long             | EP               | CORP              | US        |    364053 | NS      | $8893814.79   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                | CUSIP: 04686J200<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1092244 | NS      | $21801190.24  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| SEAPEAK LLC              | Seapeak LLC                                       | CUSIP: 000000000<br>LEI: 549300CP38L0UER0I397 | Long             | EP               | CORP              | BM        |    399057 | NS      | $9988396.71   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TENN VALLEY AUTHORITY    | Tennessee Valley Authority                        | CUSIP: 880591300<br>LEI: 549300HE1ISW43LNKM54 | Long             | EP               | USGA              | US        |    811972 | NS      | $19000144.80  | 0.14%             |  |  |  | No            |                  1 | On Loan: —       |
| FAT BRANDS INC           | FAT Brands Inc                                    | CUSIP: 30258N501<br>LEI: 549300TZCVF3UHX37729 | Long             | EP               | CORP              | US        |    680187 | NS      | $1666458.15   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| US CELLULAR CORP         | United States Cellular Corp                       | CUSIP: 911684801<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |   1583003 | NS      | $32483221.56  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| SLM CORP                 | SLM Corp                                          | CUSIP: 78442P502<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    202970 | NS      | $14672701.30  | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| DIVERSIFIED HEALTHCARE T | Diversified Healthcare Trust                      | CUSIP: 25525P305<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    791455 | NS      | $13090665.70  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| HANCOCK WHITNEY CORP     | Hancock Whitney Corp                              | CUSIP: 410120406<br>LEI: 549300GRNBWY8HIICT41 | Long             | EP               | CORP              | US        |    546151 | NS      | $12714395.28  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALBRIDGE GROUP INC  | DigitalBridge Group Inc                           | CUSIP: 25401T306<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |    919260 | NS      | $18909178.20  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973866<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |     45450 | NS      | $37459890.00  | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| TWO HARBORS INV CORP     | Two Harbors Investment Corp                       | CUSIP: 90187B309<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EP               | CORP              | US        |    804092 | NS      | $17979497.12  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| TWO HARBORS INV CORP     | Two Harbors Investment Corp                       | CUSIP: 90187B507<br>LEI: 549300ZUIBT6KH4HU823 | Long             | EP               | CORP              | US        |    764684 | NS      | $18008308.20  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| NEW YORK MORTGAGE TRUST  | New York Mortgage Trust Inc                       | CUSIP: 649604881<br>LEI: 549300JFGR0M7ULHWG48 | Long             | EP               | CORP              | US        |    494413 | NS      | $10313455.18  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PENNYMAC MTGE INVESTMENT | PennyMac Mortgage Investment Trust                | CUSIP: 70931T707<br>LEI: 549300BSSOQO1ZWDUJ97 | Long             | EP               | CORP              | US        |    546155 | NS      | $13681182.75  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| WINTRUST FINANCIAL CORP  | Wintrust Financial Corp                           | CUSIP: 97650W405<br>LEI: Q774KI4AW80FHFW33O61 | Long             | EP               | CORP              | US        |    395726 | NS      | $10035611.36  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| PEBBLEBROOK HOTEL TRUST  | Pebblebrook Hotel Trust                           | CUSIP: 70509V886<br>LEI: 5493004Q1NNH6JXCSI52 | Long             | EP               | CORP              | US        |    633152 | NS      | $10364698.24  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SHIFT4 PAYMENTS INC      | Shift4 Payments Inc                               | CUSIP: 82452J307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    791733 | NS      | $91207641.60  | 0.66%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN HOMES 4 RENT    | American Homes 4 Rent                             | CUSIP: 02665T868<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EP               | CORP              | US        |    364053 | NS      | $8558886.03   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| AMERICAN HOMES 4 RENT    | American Homes 4 Rent                             | CUSIP: 02665T876<br>LEI: 549300ZJUO7A58PNUW40 | Long             | EP               | CORP              | US        |    372181 | NS      | $8496892.23   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ARGO GROUP INTERNATIONAL | Argo Group International Holdings Inc             | CUSIP: 040128407<br>LEI: 984500ID778EF9FCDF46 | Long             | EP               | CORP              | US        |    485316 | NS      | $12157165.80  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| PITNEY BOWES INC         | Pitney Bowes Inc                                  | CUSIP: 724479506<br>LEI: 549300N2O26NW4ST6W55 | Long             | EP               | CORP              | US        |   1346860 | NS      | $25105470.40  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SOLUNA HOLDINGS INC      | Soluna Holdings Inc                               | CUSIP: 583543202<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    451413 | NS      | $1164645.54   | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| KKR GROUP FIN CO IX LLC  | KKR Group Finance Co IX LLC                       | CUSIP: 48253M104<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1583029 | NS      | $27291419.96  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| READY CAPITAL CORP       | Ready Capital Corp                                | CUSIP: 75574U887<br>LEI: 549300MYWGZUG7ZUYO87 | Long             | EP               | CORP              | US        |    377821 | NS      | $5629532.90   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTSPRING HEALTH SERV | BrightSpring Health Services Inc                  | CUSIP: 10950A205<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    633158 | NS      | $52267192.90  | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                | CUSIP: 04686J408<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1820429 | NS      | $31129335.90  | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| CMS ENERGY CORP          | CMS Energy Corp                                   | CUSIP: 125896845<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EP               | CORP              | US        |   1994580 | NS      | $44279676.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| SELECTIVE INSURANCE GROU | Selective Insurance Group Inc                     | CUSIP: 816300503<br>LEI: 549300R3WGJWLE40R258 | Long             | EP               | CORP              | US        |    647058 | NS      | $10779986.28  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| OFFICE PPTY INCOME TRST  | Office Properties Income Trust                    | CUSIP: 67623C208<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    524647 | NS      | $3226579.05   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP      | Fifth Third Bancorp                               | CUSIP: 316773860<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |    791454 | NS      | $15559985.64  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| CITIGROUP CAPITAL XIII   | Citigroup Capital XIII                            | CUSIP: 173080201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   7110713 | NS      | $209197176.46 | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BABCOCK & WILCOX ENTERPR | Babcock & Wilcox Enterprises Inc                  | CUSIP: 05614L407<br>LEI: 5493006H661OZN2C0T54 | Long             | EP               | CORP              | US        |    620297 | NS      | $6171955.15   | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| COMPASS DIVERSIF HOLDING | Compass Diversified Holdings                      | CUSIP: 20451Q203<br>LEI: 5299001SM1LBYANJRR58 | Long             | EP               | CORP              | US        |    393117 | NS      | $6576847.41   | 0.05%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST INC | Digital Realty Trust Inc                          | CUSIP: 253868855<br>LEI: 549300HKCZ31D08NEI41 | Long             | EP               | CORP              | US        |    633152 | NS      | $13334181.12  | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| STIFEL FINANCIAL CORP    | Stifel Financial Corp                             | CUSIP: 860630862<br>LEI: 549300E5F07FE5GHJX84 | Long             | EP               | CORP              | US        |    970632 | NS      | $16432799.76  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST INC | Digital Realty Trust Inc                          | CUSIP: 253868822<br>LEI: 549300HKCZ31D08NEI41 | Long             | EP               | CORP              | US        |   1092245 | NS      | $21823055.10  | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 94988U656<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   1812570 | NS      | $42033498.30  | 0.31%             |  |  |  | No            |                  1 | On Loan: —       |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |    152369 | NS      | $184823597.00 | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| QWEST CORP               | Qwest Corp                                        | CUSIP: 74913G873<br>LEI: 549300R2L4N683OO1509 | Long             | EP               | CORP              | US        |   2089531 | NS      | $37966778.27  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                | CUSIP: 04686J838<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   1820429 | NS      | $45328682.10  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD BRP HOLDINGS  | Brookfield BRP Holdings Canada Inc                | CUSIP: 11259P208<br>LEI: 549300NSPD7QJ50GZW26 | Long             | EP               | CORP              | CA        |    823133 | NS      | $13310060.61  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKLEY (WR) CORPORATION | W R Berkley Corp                                  | CUSIP: 084423706<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EP               | CORP              | US        |    585710 | NS      | $13272188.60  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF NY MELLON CORP   | Bank of New York Mellon Corp/The                  | CUSIP: 064058845<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | EP               | CORP              | US        |   1583026 | NS      | $40588786.64  | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                     | CUSIP: 008252827<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |   1424698 | NS      | $33138475.48  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC | Prudential Financial Inc                          | CUSIP: 744320888<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | EP               | CORP              | US        |   1583004 | NS      | $27148518.60  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| WAFD INC                 | WaFd Inc                                          | CUSIP: 938824307<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    950729 | NS      | $14679255.76  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| FIFTH THIRD BANCORP      | Fifth Third Bancorp                               | CUSIP: 316773605<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | EP               | CORP              | US        |   1424698 | NS      | $35774166.78  | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| NEWTEKONE INC            | NewtekOne Inc                                     | CUSIP: 652526708<br>LEI: 549300YLU78IA8GKJ688 | Long             | EP               | CORP              | US        |    364053 | NS      | $9039435.99   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN | Brighthouse Financial Inc                         | CUSIP: 10922N707<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |   1820429 | NS      | $26924144.91  | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITAL REALTY TRUST INC | Digital Realty Trust Inc                          | CUSIP: 253868830<br>LEI: 549300HKCZ31D08NEI41 | Long             | EP               | CORP              | US        |    679572 | NS      | $15596177.40  | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| TRITON INTERNATIONAL LTD | Triton International Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |    554037 | NS      | $13296888.00  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN | Brighthouse Financial Inc                         | CUSIP: 10922N301<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |   1345507 | NS      | $24743873.73  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| OLD NATL BANCORP         | Old National Bancorp/IN                           | CUSIP: 68003D303<br>LEI: 549300MMK90CL5KMVX16 | Long             | EP               | CORP              | US        |    387846 | NS      | $9610823.88   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC    | B Riley Financial Inc                             | CUSIP: 05580M827<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |    415159 | NS      | $7730260.58   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| JACKSON FINANCIAL INC    | Jackson Financial Inc                             | CUSIP: 46817M206<br>LEI: 213800WXW2KG1N4CO374 | Long             | EP               | CORP              | US        |   1742990 | NS      | $44132506.80  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| TRUIST FINANCIAL CORP    | Truist Financial Corp                             | CUSIP: 89832Q810<br>LEI: 549300DRQQI75D2JP341 | Long             | EP               | CORP              | US        |    546152 | NS      | $11032270.40  | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| BROOKFIELD PROPERTY PART | Brookfield Property Partners LP                   | CUSIP: 000000000<br>LEI: 5493004J5Z0TZW83NU62 | Long             | EP               | CORP              | US        |    791461 | NS      | $11982719.54  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| SUMMIT HOTEL PROPERTIES  | Summit Hotel Properties Inc                       | CUSIP: 866082605<br>LEI: 254900OBQWJK6X20LS71 | Long             | EP               | CORP              | US        |    517830 | NS      | $9134521.20   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST VII            | SCE Trust VII                                     | CUSIP: 783892201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1741238 | NS      | $38690308.36  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB FINANCIAL CORP       | UMB Financial Corp                                | CUSIP: 902788207<br>LEI: 549300MGEH3N3CUCV828 | Long             | EP               | CORP              | US        |    372170 | NS      | $9289363.20   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505229<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   2640255 | NS      | $65689544.40  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST VI             | SCE Trust VI                                      | CUSIP: 78410V200<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1503812 | NS      | $24060992.00  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALBRIDGE GROUP INC  | DigitalBridge Group Inc                           | CUSIP: 25401T504<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |    664442 | NS      | $13906771.06  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST CITIZENS BANCSHARE | First Citizens BancShares Inc/NC                  | CUSIP: 31959X202<br>LEI: 549300N3Z00ZHE2XC526 | Long             | EP               | CORP              | US        |    633149 | NS      | $14549764.02  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD | Aspen Insurance Holdings Ltd                      | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |    727974 | NS      | $17252983.80  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| BRIGHTHOUSE FINANCIAL IN | Brighthouse Financial Inc                         | CUSIP: 10922N509<br>LEI: 5493003T8SZSHOGGAW52 | Long             | EP               | CORP              | US        |   1274272 | NS      | $24618935.04  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| ENTERGY LOUISIANA LLC    | Entergy Louisiana LLC                             | CUSIP: 29364W108<br>LEI: 0V5453U14HDZO63CGH17 | Long             | EP               | CORP              | US        |    854818 | NS      | $17122004.54  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| SCE TRUST II             | SCE Trust II                                      | CUSIP: 78407R204<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    711878 | NS      | $11575136.28  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| ATHENE HOLDING LTD       | Athene Holding Ltd                                | CUSIP: 04686J861<br>LEI: 549300H316CT32FQXI76 | Long             | EP               | CORP              | US        |   2730645 | NS      | $65999689.65  | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PINNACLE FINANCIAL PARTN | Pinnacle Financial Partners Inc                   | CUSIP: 72346Q302<br>LEI: 54930098EZ8JMSAZGS24 | Long             | EP               | CORP              | US        |    712391 | NS      | $17033268.81  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| CARLYLE FINANCE LLC      | Carlyle Finance LLC                               | CUSIP: 14314C105<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1583003 | NS      | $26515300.25  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973734<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   1583003 | NS      | $23824195.15  | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W537<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    728176 | NS      | $12073158.08  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| B RILEY FINANCIAL INC    | B Riley Financial Inc                             | CUSIP: 05580M793<br>LEI: 529900LRQ75IKIPK4990 | Long             | EP               | CORP              | US        |    907799 | NS      | $10239972.72  | 0.07%             |  |  |  | No            |                  1 | On Loan: —       |
| QVC INC                  | QVC Inc                                           | CUSIP: 747262400<br>LEI: 549300WBLU5NKPX5X472 | Long             | EP               | CORP              | US        |   1618567 | NS      | $16023813.30  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLANTICUS HOLDINGS CORP | Atlanticus Holdings Corp                          | CUSIP: 04914Y300<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    469181 | NS      | $11269727.62  | 0.08%             |  |  |  | No            |                  1 | On Loan: —       |
| ARGO GROUP US INC        | Argo Group US Inc                                 | CUSIP: 040130106<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    465068 | NS      | $9366469.52   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| MAIDEN HOLDINGS NA LTD   | Maiden Holdings North America Ltd                 | CUSIP: 56029Q408<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    482797 | NS      | $7942010.65   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GLADSTONE LAND CORP      | Gladstone Land Corp                               | CUSIP: 376549309<br>LEI: 54930002B3Q17H38FG74 | Long             | EP               | CORP              | US        |    462766 | NS      | $8945266.78   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| EIDP INC                 | EIDP Inc                                          | CUSIP: 263534307<br>LEI: GLU7INWNWH88J9XBXD45 | Long             | EP               | CORP              | US        |    132442 | NS      | $9235180.66   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AGREE REALTY CORP        | Agree Realty Corp                                 | CUSIP: 008492209<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    566233 | NS      | $9608974.01   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B580<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   4620580 | NS      | $88299283.80  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ANNALY CAPITAL MGMT      | Annaly Capital Management Inc                     | CUSIP: 035710870<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |   2279516 | NS      | $57421008.04  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| BLACKROCK GLOBAL         | BLACKROCK GLOBAL                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | RF                | US        |  82086537 | NS      | $82119371.40  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| SPIRE INC                | Spire Inc                                         | CUSIP: 84857L309<br>LEI: 549300NXSY15DRY2R511 | Long             | EP               | CORP              | US        |    791463 | NS      | $18670612.17  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                        | CUSIP: 14040H758<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |   2137049 | NS      | $34983492.13  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| ASPEN INSURANCE HLDG LTD | Aspen Insurance Holdings Ltd                      | CUSIP: 000000000<br>LEI: 549300YX6HECG9XQCQ75 | Long             | EP               | CORP              | BM        |    776116 | NS      | $15250679.40  | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY INC       | NextEra Energy Inc                                | CUSIP: 65339F663<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EP               | CORP              | US        |   3165939 | NS      | $149084067.51 | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HORIZON CORP       | First Horizon Corp                                | CUSIP: 320517402<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EP               | CORP              | US        |    474917 | NS      | $11279278.75  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| BROOKFIELD FIN I UK PLC  | Brookfield Finance I UK Plc                       | CUSIP: 11272B103<br>LEI: 213800JCKNPJE9FDCJ76 | Long             | EP               | CORP              | GB        |    744078 | NS      | $11042117.52  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST HORIZON CORP       | First Horizon Corp                                | CUSIP: 320517865<br>LEI: TF3RXI1ZB1TQ30H9JV10 | Long             | EP               | CORP              | US        |    474911 | NS      | $8220709.41   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W487<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    538192 | NS      | $8293538.72   | 0.06%             |  |  |  | No            |                  1 | On Loan: —       |
| GLOBAL NET LEASE INC     | Global Net Lease Inc                              | CUSIP: 379378300<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EP               | CORP              | US        |    550008 | NS      | $12034175.04  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| WEBSTER FINANCIAL CORP   | Webster Financial Corp                            | CUSIP: 947890505<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EP               | CORP              | US        |    474917 | NS      | $9051918.02   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| NAVIENT CORP             | Navient Corp                                      | CUSIP: 63938C405<br>LEI: 54930067J0ZNOEBRW338 | Long             | EP               | CORP              | US        |    970632 | NS      | $17714034.00  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| FEDERAL REALTY INVS TRST | Federal Realty Investment Trust                   | CUSIP: 313745200<br>LEI: 549300FHEI1SLVZ0RB48 | Long             | EP               | CORP              | US        |    485284 | NS      | $9725091.36   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| US CELLULAR CORP         | United States Cellular Corp                       | CUSIP: 911684884<br>LEI: 549300B164AZXESI6E03 | Long             | EP               | CORP              | US        |   1583003 | NS      | $32467391.53  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| BRAEMAR HOTELS & RESORTS | Braemar Hotels & Resorts Inc                      | CUSIP: 10482B200<br>LEI: 549300JDUUEBN868C776 | Long             | EP               | CORP              | US        |    248839 | NS      | $3279698.02   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| CHIMERA INVESTMENT CORP  | Chimera Investment Corp                           | CUSIP: 16934Q307<br>LEI: 2JBBQFJOL123LOUBE657 | Long             | EP               | CORP              | US        |    459081 | NS      | $10214552.25  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973718<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   2374469 | NS      | $38252695.59  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                  | KeyCorp                                           | CUSIP: 493267702<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |   1583004 | NS      | $38625297.60  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AT&T INC                 | AT&T Inc                                          | CUSIP: 00206R508<br>LEI: 549300Z40J86GGSTL398 | Long             | EP               | CORP              | US        |   3799167 | NS      | $76553215.05  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| ACRES COMMERCIAL REALTY  | ACRES Commercial Realty Corp                      | CUSIP: 00489Q201<br>LEI: 549300RUJWPCMY4JFR46 | Long             | EP               | CORP              | US        |    386675 | NS      | $9593406.75   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q872<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |   1820430 | NS      | $45710997.30  | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 94988U128<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   3187662 | NS      | $60023675.46  | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W644<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    902336 | NS      | $20230373.12  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST     | Vornado Realty Trust                              | CUSIP: 929042828<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1033771 | NS      | $17108910.05  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q500<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |   1028966 | NS      | $26207764.02  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| NEXTERA ENERGY CAPITAL   | NextEra Energy Capital Holdings Inc               | CUSIP: 65339K860<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | EP               | CORP              | US        |   2176602 | NS      | $48124670.22  | 0.35%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B523<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   6169315 | NS      | $110492431.65 | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| APOLLO GLOBAL MANAGEMENT | Apollo Global Management Inc                      | CUSIP: 03769M205<br>LEI: 254900LMFT1CY9IYB476 | Long             | EP               | CORP              | US        |   1899547 | NS      | $49445208.41  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| FOSSIL GROUP INC         | Fossil Group Inc                                  | CUSIP: 34988V304<br>LEI: DDMY8YZ6L8UEMS1FDM73 | Long             | EP               | CORP              | US        |    474917 | NS      | $7622417.85   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BRUNSWICK CORP           | Brunswick Corp/DE                                 | CUSIP: 117043604<br>LEI: YM4O38W15AX4YLLQKU27 | Long             | EP               | CORP              | US        |    744078 | NS      | $17976924.48  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973759<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   1820430 | NS      | $40304320.20  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B655<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   5289507 | NS      | $129963186.99 | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| GLOBAL SHIP LEASE INC    | Global Ship Lease Inc                             | CUSIP: 000000000<br>LEI: 254900GLZ0J5N8UZM071 | Long             | EP               | CORP              | GB        |    352662 | NS      | $9045780.30   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TELEPHONE & DATA SYS     | Telephone and Data Systems Inc                    | CUSIP: 879433787<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1329664 | NS      | $25649218.56  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMORGAN CHASE & CO      | JPMorgan Chase & Co                               | CUSIP: 48128B648<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EP               | CORP              | US        |   5749952 | NS      | $144956289.92 | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY       | Ford Motor Co                                     | CUSIP: 345370845<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |   2374469 | NS      | $49816359.62  | 0.36%             |  |  |  | No            |                  1 | On Loan: No      |
| WELLS FARGO & COMPANY    | Wells Fargo & Co                                  | CUSIP: 95002Y400<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EP               | CORP              | US        |   3325997 | NS      | $57373448.25  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| ARBOR REALTY TRUST INC   | Arbor Realty Trust Inc                            | CUSIP: 038923868<br>LEI: 549300ASFUWYQO0RW077 | Long             | EP               | CORP              | US        |    465454 | NS      | $7968572.48   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W461<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |   1911483 | NS      | $30124972.08  | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| DIGITALBRIDGE GROUP INC  | DigitalBridge Group Inc                           | CUSIP: 25401T405<br>LEI: 549300XG87L902AGBO89 | Long             | EP               | CORP              | US        |   1018405 | NS      | $20897670.60  | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| ELLINGTON FINANCIAL      | Ellington Financial Inc                           | CUSIP: 28852N307<br>LEI: 60GS1D1R1YY5G1W7IT74 | Long             | EP               | CORP              | US        |    381500 | NS      | $8507450.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR PROPERTIES           | EPR Properties                                    | CUSIP: 26884U307<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |    272773 | NS      | $8505062.14   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANCORP               | US Bancorp                                        | CUSIP: 902973155<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | EP               | CORP              | US        |   3165939 | NS      | $63572055.12  | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| ARBOR REALTY TRUST INC   | Arbor Realty Trust Inc                            | CUSIP: 038923850<br>LEI: 549300ASFUWYQO0RW077 | Long             | EP               | CORP              | US        |    897741 | NS      | $18233119.71  | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61763E207<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   2679557 | NS      | $67337267.41  | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| CHARLES SCHWAB CORP      | Charles Schwab Corp/The                           | CUSIP: 808513600<br>LEI: 549300VSGCJ7E698NM85 | Long             | EP               | CORP              | US        |   2374470 | NS      | $58554430.20  | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                       | CUSIP: 38143Y665<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |   2374393 | NS      | $50242155.88  | 0.37%             |  |  |  | No            |                  1 | On Loan: —       |
| CADENCE BANK             | Cadence Bank                                      | CUSIP: 12740C202<br>LEI: Q7C315HKI8VX0SSKBS64 | Long             | EP               | CORP              | US        |    546151 | NS      | $11174249.46  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MORGAN STANLEY           | Morgan Stanley                                    | CUSIP: 61762V861<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EP               | CORP              | US        |   4106026 | NS      | $70705767.72  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| STATE STREET CORP        | State Street Corp                                 | CUSIP: 857477855<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EP               | CORP              | US        |   1583004 | NS      | $34382846.88  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNOVUS FINANCIAL CORP   | Synovus Financial Corp                            | CUSIP: 87161C600<br>LEI: 549300EIUS8UN5JTLE54 | Long             | EP               | CORP              | US        |    633149 | NS      | $15942691.82  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| F&G ANNUITIES & LIFE INC | F&G Annuities & Life Inc                          | CUSIP: 30190A609<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1187195 | NS      | $28920070.20  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC STORAGE           | Public Storage                                    | CUSIP: 74460W511<br>LEI: 254900GLQZAD4N7N5Q19 | Long             | EP               | CORP              | US        |    894368 | NS      | $13683830.40  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| EPR PROPERTIES           | EPR Properties                                    | CUSIP: 26884U208<br>LEI: 549300YSSXFHMPOWZ492 | Long             | EP               | CORP              | US        |    454155 | NS      | $11376582.75  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO | Capital One Financial Corp                        | CUSIP: 14040H782<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |   3957479 | NS      | $70324401.83  | 0.51%             |  |  |  | No            |                  1 | On Loan: No      |
| HUNTINGTON BANCSHARES    | Huntington Bancshares Inc/OH                      | CUSIP: 446150773<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EP               | CORP              | US        |   1028871 | NS      | $25423402.41  | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| SYNCHRONY FINANCIAL      | Synchrony Financial                               | CUSIP: 87165B400<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EP               | CORP              | US        |   1583003 | NS      | $39321794.52  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| AMERICAN FINANCIAL GROUP | American Financial Group Inc/OH                   | CUSIP: 025932880<br>LEI: 549300AFOM7IVKIU1G39 | Long             | EP               | CORP              | US        |    633149 | NS      | $12029831.00  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| KEYCORP                  | KeyCorp                                           | CUSIP: 493267876<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EP               | CORP              | US        |   1345507 | NS      | $28457473.05  | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| FORD MOTOR COMPANY       | Ford Motor Co                                     | CUSIP: 345370811<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | EP               | CORP              | US        |   1899547 | NS      | $42549852.80  | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| VORNADO REALTY TRUST     | Vornado Realty Trust                              | CUSIP: 929042844<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    970633 | NS      | $16588117.97  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| AEGON FUNDING CO LLC     | AEGON Funding Co LLC                              | CUSIP: 00775V104<br>LEI: KEIOKM01PSK5VZ5CCI74 | Long             | EP               | CORP              | US        |   2928513 | NS      | $57164573.76  | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SARATOGA INVESTMENT CORP | Saratoga Investment Corp                          | CUSIP: 80349A802<br>LEI: 54930023WJCWPAGSWE41 | Long             | EP               | CORP              | US        |    341308 | NS      | $8290371.32   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| CHATHAM LODGING          | Chatham Lodging Trust                             | CUSIP: 16208T201<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    388285 | NS      | $7688043.00   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| BERKLEY (WR) CORPORATION | W R Berkley Corp                                  | CUSIP: 084423888<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EP               | CORP              | US        |    808891 | NS      | $13184923.30  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| MFA FINANCIAL INC        | MFA Financial Inc                                 | CUSIP: 55272X409<br>LEI: YW72IMH2RRC8Z1TGLG58 | Long             | EP               | CORP              | US        |    647059 | NS      | $13083532.98  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| GOLDMAN SACHS GROUP INC  | Goldman Sachs Group Inc/The                       | CUSIP: 38144G804<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | EP               | CORP              | US        |   4273943 | NS      | $88684317.25  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| ARCH CAPITAL GROUP LTD   | Arch Capital Group Ltd                            | CUSIP: 03939A404<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EP               | CORP              | BM        |   1583003 | NS      | $26546960.31  | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| VALLEY NATIONAL BANCORP  | Valley National Bancorp                           | CUSIP: 919794404<br>LEI: 549300ET52S1UBIB9762 | Long             | EP               | CORP              | US        |    474917 | NS      | $11697205.71  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLANTICUS HOLDINGS CORP | Atlanticus Holdings Corp                          | CUSIP: 04914Y409<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    513010 | NS      | $12825250.00  | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| TRITON INTERNATIONAL LTD | Triton International Ltd                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | BM        |    455098 | NS      | $11099840.22  | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| SIRIUSPOINT LTD          | SiriusPoint Ltd                                   | CUSIP: 000000000<br>LEI: 549300OGXFI85N3YZZ51 | Long             | EP               | CORP              | BM        |    633791 | NS      | $16009560.66  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| TRINITY CAPITAL INC/MD   | Trinity Capital Inc                               | CUSIP: 896442704<br>LEI: 549300YGT4SBRQYDVU48 | Long             | EP               | CORP              | US        |    385978 | NS      | $9730505.38   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T | Diversified Healthcare Trust                      | CUSIP: 25525P206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   1132454 | NS      | $17722905.10  | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLAS CORP               | Atlas Corp                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | HK        |    714340 | NS      | $18251387.00  | 0.13%             |  |  |  | No            |                  1 | On Loan: —       |
| SYNCHRONY FINANCIAL      | Synchrony Financial                               | CUSIP: 87165B202<br>LEI: 549300RS7EWPM9MA6C78 | Long             | EP               | CORP              | US        |   2374385 | NS      | $43688684.00  | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| AFFILIATED MANAGERS GROU | Affiliated Managers Group Inc                     | CUSIP: 008252850<br>LEI: 2JE75BUE3T1BLCYYGK54 | Long             | EP               | CORP              | US        |    949775 | NS      | $19308925.75  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLAS CORP               | Atlas Corp                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EP               | CORP              | HK        |    403146 | NS      | $10215719.64  | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| TELEPHONE & DATA SYS     | Telephone and Data Systems Inc                    | CUSIP: 879433761<br>LEI: N/A                  | Long             | EP               | CORP              | US        |   2184488 | NS      | $38665437.60  | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| AXIS CAPITAL HLDGS LTD   | Axis Capital Holdings Ltd                         | CUSIP: 05461T305<br>LEI: 635400VD2NQBYAHMEM55 | Long             | EP               | CORP              | BM        |   1741238 | NS      | $34546161.92  | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| AGNC INVESTMENT CORP     | AGNC Investment Corp                              | CUSIP: 00123Q807<br>LEI: 5TRACI5HRMELWV32OF39 | Long             | EP               | CORP              | US        |   1274272 | NS      | $32366508.80  | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| ATLANTIC UNION BANKSHARE | Atlantic Union Bankshares Corp                    | CUSIP: 04911A206<br>LEI: N/A                  | Long             | EP               | CORP              | US        |    546029 | NS      | $13186600.35  | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| BANK OF AMERICA CORP     | Bank of America Corp                              | CUSIP: 060505195<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |   1654706 | NS      | $40556844.06  | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| KIMCO REALTY CORP        | Kimco Realty Corp                                 | CUSIP: 49446R711<br>LEI: 254900ARY41P4V1JL861 | Long             | EP               | CORP              | US        |    846499 | NS      | $16887655.05  | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer