# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001752724-25-177818
**Filing Date:** 2025-7
**Character Count:** 254060
**Document Hash:** 27ab0422dc2c4bc7319b2cb03d164700
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-177818.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001752724-25-177818

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250531

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**PERIOD START**: 20260228

**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:** 251149395

**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 Investment Grade Systematic Bond ETF (Series ID: S000057342)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000182993 | iShares Investment Grade Systematic Bond ETF | IGEB            |

## Nport-Ex

Schedule of Investments (unaudited)

May 31, 2025

**iShares® Investment Grade Systematic Bond ETF**

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

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.1%** | **Advertising — 0.1%** | **Advertising — 0.1%** |
| Omnicom Group Inc., 5.30%, 11/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $1607 | $1594814 |
| **Aerospace & Defense — 2.0%** | **Aerospace & Defense — 2.0%** | **Aerospace & Defense — 2.0%** |
| Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 3.20%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 218 | 206248 |
| &nbsp;&nbsp;&nbsp; 3.25%, 02/01/35 | &nbsp;&nbsp;&nbsp; 3319 | 2731309 |
| &nbsp;&nbsp;&nbsp; 3.60%, 05/01/34 | &nbsp;&nbsp;&nbsp; 3405 | 2945184 |
| &nbsp;&nbsp;&nbsp; 5.15%, 05/01/30 | &nbsp;&nbsp;&nbsp; 5055 | 5099318 |
| &nbsp;&nbsp;&nbsp; 6.39%, 05/01/31 | &nbsp;&nbsp;&nbsp; 1022 | 1090448 |
| &nbsp;&nbsp;&nbsp; 6.53%, 05/01/34 | &nbsp;&nbsp;&nbsp; 968 | 1033216 |
| General Electric Co., 5.88%, 01/14/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 927 | 970758 |
| HEICO Corp., 5.35%, 08/01/33 | &nbsp;&nbsp;&nbsp; 1184 | 1195271 |
| L3Harris Technologies Inc., 5.40%, 07/31/33 | &nbsp;&nbsp;&nbsp; 2145 | 2173759 |
| Northrop Grumman Corp., 4.75%, 06/01/43 | &nbsp;&nbsp;&nbsp; 1095 | 970587 |
| RTX Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/42 | &nbsp;&nbsp;&nbsp; 3534 | 3057136 |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/15/40 | &nbsp;&nbsp;&nbsp; 726 | 667892 |
|  |  | 22141126 |
| **Agriculture — 2.4%** | **Agriculture — 2.4%** | **Agriculture — 2.4%** |
| Altria Group Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.40%, 05/06/30 | &nbsp;&nbsp;&nbsp; 412 | 386515 |
| &nbsp;&nbsp;&nbsp; 5.38%, 01/31/44<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2574 | 2368436 |
| &nbsp;&nbsp;&nbsp; 5.80%, 02/14/39 | &nbsp;&nbsp;&nbsp; 4039 | 3998451 |
| &nbsp;&nbsp;&nbsp; 6.88%, 11/01/33 | &nbsp;&nbsp;&nbsp; 1126 | 1237224 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.34%, 08/02/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 429 | 457516 |
| &nbsp;&nbsp;&nbsp; 6.42%, 08/02/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 829 | 888693 |
| &nbsp;&nbsp;&nbsp; 7.08%, 08/02/43 | &nbsp;&nbsp;&nbsp; 3479 | 3762048 |
| &nbsp;&nbsp;&nbsp; 7.75%, 10/19/32 | &nbsp;&nbsp;&nbsp; 1739 | 1985309 |
| Philip Morris International Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 02/15/33 | &nbsp;&nbsp;&nbsp; 2432 | 2479874 |
| &nbsp;&nbsp;&nbsp; 5.75%, 11/17/32 | &nbsp;&nbsp;&nbsp; 787 | 824016 |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/16/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4024 | 4371958 |
| Reynolds American Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.70%, 08/15/35 | &nbsp;&nbsp;&nbsp; 700 | 702245 |
| &nbsp;&nbsp;&nbsp; 5.85%, 08/15/45 | &nbsp;&nbsp;&nbsp; 2952 | 2782511 |
|  |  | 26244796 |
| **Apparel — 0.4%** | **Apparel — 0.4%** | **Apparel — 0.4%** |
| Tapestry Inc., 5.50%, 03/11/35 | &nbsp;&nbsp;&nbsp; 4110 | 4031389 |
| **Banks — 12.3%** | **Banks — 12.3%** | **Banks — 12.3%** |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.19%, 07/23/30, (3-mo. CME Term SOFR + <br> 1.442%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 5658 | 5330172 |
| &nbsp;&nbsp;&nbsp; 4.95%, 07/22/28, (1-day SOFR + 2.040%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 2945 | 2963516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series RR, 4.38%, , (5-year CMT + <br> 2.760%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 554 | 536543 |
| &nbsp;&nbsp;&nbsp; Series TT, 6.13%, , (5-year CMT + 3.231%)<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; 5224 | 5260025 |
| &nbsp;&nbsp;&nbsp; Bank of New York Mellon Corp. (The), Series F, <br> 4.63%, (3-mo. CME Term SOFR + 3.393%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 5319 | 5267354 |
| Citibank NA, 4.93%, 08/06/26 | &nbsp;&nbsp;&nbsp; 4899 | 4926589 |
| Citigroup Inc., 3.40%, 05/01/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 238 | 235587 |
| Citizens Financial Group Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.72%, 07/23/32, (1-day SOFR + 1.910%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1233 | 1258721 |
| &nbsp;&nbsp;&nbsp; 5.84%, 01/23/30, (1-day SOFR + 2.010%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5060 | 5190407 |
| Fifth Third Bancorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.77%, 07/28/30, (1-day SOFR Index + <br> 2.127%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 1866 | 1859836 |
| &nbsp;&nbsp;&nbsp; 5.63%, 01/29/32, (1-day SOFR + 1.840%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5134 | 5271704 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Goldman Sachs Group Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 3.10%, 02/24/33, (1-day SOFR + 1.410%)<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; $2980 | $2631885 |
| &nbsp;&nbsp;&nbsp; 6.48%, 10/24/29, (1-day SOFR + 1.770%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 2617 | 2760850 |
| &nbsp;&nbsp;&nbsp; 6.56%, 10/24/34, (1-day SOFR + 1.950%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 720 | 784050 |
| HSBC Holdings PLC |  |  |
| &nbsp;&nbsp;&nbsp; 2.36%, 08/18/31, (1-day SOFR + 1.947%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 220 | 192831 |
| &nbsp;&nbsp;&nbsp; 2.85%, 06/04/31, (1-day SOFR + 2.387%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 430 | 387669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.97%, 05/22/30, (3-mo. CME Term SOFR + <br> 1.872%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 5416 | 5222517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 06/19/29, (3-mo. CME Term SOFR + <br> 1.796%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 3613 | 3588670 |
| &nbsp;&nbsp;&nbsp; 5.40%, 08/11/33, (1-day SOFR + 2.870%)<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1054 | 1063245 |
| &nbsp;&nbsp;&nbsp; 5.55%, 03/04/30, (1-day SOFR + 1.460%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 4506 | 4608034 |
| &nbsp;&nbsp;&nbsp; 7.39%, 11/03/28, (1-day SOFR + 3.350%)<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 3263 | 3450687 |
| &nbsp;&nbsp;&nbsp; Huntington Bancshares Inc./Ohio, 6.21%, 08/21/29, <br> (1-day SOFR + 2.020%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 5157 | 5375507 |
| &nbsp;&nbsp;&nbsp; ING Groep NV, 6.11%, 09/11/34, (1-day SOFR + <br> 2.090%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 3850 | 4045857 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp; 2.55%, 11/08/32, (1-day SOFR + 1.180%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 6372 | 5521813 |
| &nbsp;&nbsp;&nbsp; 2.96%, 01/25/33, (1-day SOFR + 1.260%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 6178 | 5464835 |
| &nbsp;&nbsp;&nbsp; 4.85%, 07/25/28, (1-day SOFR + 1.990%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1260 | 1266375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series KK, 3.65%, , (5-year CMT + <br> 2.850%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 5488 | 5351940 |
| &nbsp;&nbsp;&nbsp; Series NN, 6.88%, , (5-year CMT + 2.737%)<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; 2824 | 2944552 |
| M&T Bank Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.05%, 01/27/34, (1-day SOFR + 1.850%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 2054 | 1990261 |
| &nbsp;&nbsp;&nbsp; 6.08%, 03/13/32, (1-day SOFR + 2.260%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 4355 | 4534991 |
| &nbsp;&nbsp;&nbsp; 7.41%, 10/30/29, (1-day SOFR + 2.800%)<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 110 | 118722 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp; 2.70%, 01/22/31, (1-day SOFR + 1.143%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 7345 | 6700473 |
| &nbsp;&nbsp;&nbsp; 3.62%, 04/01/31, (1-day SOFR + 3.120%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1857 | 1760748 |
| &nbsp;&nbsp;&nbsp; 6.63%, 11/01/34, (1-day SOFR + 2.050%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 382 | 414533 |
| &nbsp;&nbsp;&nbsp; PNC Financial Services Group Inc. (The), Series V, <br> 6.20%, (5-year CMT + 3.238%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 5295 | 5369024 |
| Regions Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/06/35, (1-day SOFR +2.060%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1900 | 1866079 |
| &nbsp;&nbsp;&nbsp; 5.72%, 06/06/30, (1-day SOFR +1.490%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 3879 | 3967083 |
| Truist Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.87%, 06/08/34, (1-day SOFR + 2.361%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1548 | 1585894 |
| &nbsp;&nbsp;&nbsp; 6.05%, 06/08/27, (1-day SOFR + 2.050%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 2190 | 2218273 |
| &nbsp;&nbsp;&nbsp; U.S. Bancorp, 5.30%, (3-mo. CME Term SOFR + <br> 3.176%)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 5320 | 5274370 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp; 3.35%, 03/02/33, (1-day SOFR + 1.500%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 708 | 635022 |
| &nbsp;&nbsp;&nbsp; 4.90%, 07/25/33, (1-day SOFR + 2.100%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1135 | 1115520 |
| &nbsp;&nbsp;&nbsp; 5.39%, 04/24/34, (1-day SOFR + 2.020%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 2220 | 2229490 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/23/35, (1-day SOFR + 1.780%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 3092 | 3109545 |
| &nbsp;&nbsp;&nbsp; 6.49%, 10/23/34, (1-day SOFR + 2.060%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 471 | 505167 |
|  |  | 136156966 |
| **Beverages — 0.9%** | **Beverages — 0.9%** | **Beverages — 0.9%** |
| &nbsp;&nbsp;&nbsp; Anheuser-Busch Companies LLC/Anheuser-Busch <br> InBev Worldwide Inc., 4.70%, 02/01/36<br>| &nbsp;&nbsp;&nbsp; 4363 | 4193752 |
| Anheuser-Busch InBev Worldwide Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.45%, 01/23/39 | &nbsp;&nbsp;&nbsp; 342 | 342903 |
| &nbsp;&nbsp;&nbsp; 8.20%, 01/15/39 | &nbsp;&nbsp;&nbsp; 1606 | 2019030 |
| Coca-Cola Co. (The), 2.75%, 06/01/60<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6848 | 3949100 |
|  |  | 10504785 |

---

------

Schedule of Investments (unaudited)(continued)

May 31, 2025

**iShares® Investment Grade Systematic Bond ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Biotechnology — 1.3%** | **Biotechnology — 1.3%** | **Biotechnology — 1.3%** |
| Amgen Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 1.65%, 08/15/28 | &nbsp;&nbsp;&nbsp; $3230 | $2964149 |
| &nbsp;&nbsp;&nbsp; 4.40%, 05/01/45 | &nbsp;&nbsp;&nbsp; 2031 | 1684440 |
| Biogen Inc., 2.25%, 05/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6113 | 5422242 |
| Gilead Sciences Inc., 5.65%, 12/01/41 | &nbsp;&nbsp;&nbsp; 1981 | 1968961 |
| Royalty Pharma PLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.15%, 09/02/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1342 | 1357061 |
| &nbsp;&nbsp;&nbsp; 5.40%, 09/02/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1177 | 1172106 |
|  |  | 14568959 |
| **Building Materials — 0.7%** | **Building Materials — 0.7%** | **Building Materials — 0.7%** |
| CRH America Finance Inc., 5.40%, 05/21/34 | &nbsp;&nbsp;&nbsp; 4080 | 4117679 |
| Eagle Materials Inc., 2.50%, 07/01/31 | &nbsp;&nbsp;&nbsp; 4555 | 3964238 |
|  |  | 8081917 |
| **Chemicals — 0.6%** | **Chemicals — 0.6%** | **Chemicals — 0.6%** |
| LYB International Finance BV, 4.88%, 03/15/44<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1843 | 1525478 |
| LYB International Finance III LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3958 | 3861007 |
| &nbsp;&nbsp;&nbsp; 5.63%, 05/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 853 | 857124 |
|  |  | 6243609 |
| **Commercial Services — 0.5%** | **Commercial Services — 0.5%** | **Commercial Services — 0.5%** |
| Equifax Inc., 2.35%, 09/15/31 | &nbsp;&nbsp;&nbsp; 3710 | 3183304 |
| Quanta Services Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.35%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 168 | 141517 |
| &nbsp;&nbsp;&nbsp; 5.25%, 08/09/34 | &nbsp;&nbsp;&nbsp; 1789 | 1772707 |
|  |  | 5097528 |
| **Computers — 1.5%** | **Computers — 1.5%** | **Computers — 1.5%** |
| Apple Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.55%, 08/20/60 | &nbsp;&nbsp;&nbsp; 9327 | 5259466 |
| &nbsp;&nbsp;&nbsp; 2.85%, 08/05/61<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2110 | 1234861 |
| Booz Allen Hamilton Inc., 5.95%, 04/15/35 | &nbsp;&nbsp;&nbsp; 1780 | 1761356 |
| CGI Inc., 4.95%, 03/14/30<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 1851 | 1850844 |
| HP Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.40%, 06/17/30 | &nbsp;&nbsp;&nbsp; 672 | 621707 |
| &nbsp;&nbsp;&nbsp; 4.20%, 04/15/32 | &nbsp;&nbsp;&nbsp; 652 | 609599 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3065 | 3053551 |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/15/41<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1958 | 1917132 |
|  |  | 16308516 |
| **Distribution & Wholesale — 0.4%** | **Distribution & Wholesale — 0.4%** | **Distribution & Wholesale — 0.4%** |
| LKQ Corp., 5.75%, 06/15/28 | &nbsp;&nbsp;&nbsp; 4085 | 4191464 |
| **Diversified Financial Services — 5.3%** | **Diversified Financial Services — 5.3%** | **Diversified Financial Services — 5.3%** |
| &nbsp;&nbsp;&nbsp; AerCap Ireland Capital DAC/AerCap Global <br> Aviation Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.30%, 01/30/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6120 | 5434303 |
| &nbsp;&nbsp;&nbsp; 5.38%, 12/15/31 | &nbsp;&nbsp;&nbsp; 395 | 398168 |
| &nbsp;&nbsp;&nbsp; 6.95%, 03/10/55, (5-year CMT + 2.720%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 3662 | 3756138 |
| &nbsp;&nbsp;&nbsp; American Express Co., 3.55%, (5-year CMT + <br> 2.854%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 5407 | 5228858 |
| Blue Owl Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 06/10/31 | &nbsp;&nbsp;&nbsp; 344 | 300266 |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/18/34 | &nbsp;&nbsp;&nbsp; 5224 | 5295810 |
| Capital One Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.31%, 06/08/29, (1-day SOFR + 2.640%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 4271 | 4448198 |
| &nbsp;&nbsp;&nbsp; 7.15%, 10/29/27, (1-day SOFR + 2.440%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 100 | 103164 |
| &nbsp;&nbsp;&nbsp; 7.62%, 10/30/31, (1-day SOFR + 3.070%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 4693 | 5233833 |
| Charles Schwab Corp. (The) |  |  |
| &nbsp;&nbsp;&nbsp; Series I, 4.00%, (5-year CMT + 3.168%)<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; 5515 | 5450183 |
| &nbsp;&nbsp;&nbsp; Series K, 5.00%, (5-year CMT + 3.256%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp;&nbsp; 3983 | 3960598 |
| CI Financial Corp., 3.20%, 12/17/30 | &nbsp;&nbsp;&nbsp; 1030 | 898540 |
| Enact Holdings Inc., 6.25%, 05/28/29 | &nbsp;&nbsp;&nbsp; 3906 | 4010393 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| LPL Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.65%, 03/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $1475 | $1454634 |
| &nbsp;&nbsp;&nbsp; 6.00%, 05/20/34 | &nbsp;&nbsp;&nbsp; 2016 | 2047526 |
| &nbsp;&nbsp;&nbsp; 6.75%, 11/17/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2023 | 2148474 |
| Radian Group Inc., 6.20%, 05/15/29 | &nbsp;&nbsp;&nbsp; 1384 | 1424775 |
| TPG Operating Group II LP, 5.88%, 03/05/34 | &nbsp;&nbsp;&nbsp; 1495 | 1510998 |
| Visa Inc., 2.00%, 08/15/50 | &nbsp;&nbsp;&nbsp; 9882 | 5270551 |
|  |  | 58375410 |
| **Electric — 13.0%** | **Electric — 13.0%** | **Electric — 13.0%** |
| Ameren Corp., 5.38%, 03/15/35 | &nbsp;&nbsp;&nbsp; 180 | 178131 |
| Ameren Illinois Co. |  |  |
| &nbsp;&nbsp;&nbsp; 3.85%, 09/01/32 | &nbsp;&nbsp;&nbsp; 1053 | 981090 |
| &nbsp;&nbsp;&nbsp; 4.95%, 06/01/33 | &nbsp;&nbsp;&nbsp; 323 | 322084 |
| &nbsp;&nbsp;&nbsp; 5.55%, 07/01/54 | &nbsp;&nbsp;&nbsp; 1751 | 1665714 |
| American Electric Power Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 02/15/62, (5-year CMT + 2.675%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 4196 | 4005784 |
| &nbsp;&nbsp;&nbsp; 5.63%, 03/01/33 | &nbsp;&nbsp;&nbsp; 4359 | 4462519 |
| Arizona Public Service Co., 5.55%, 08/01/33 | &nbsp;&nbsp;&nbsp; 1131 | 1140803 |
| CenterPoint Energy Houston Electric LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.80%, 03/15/30 | &nbsp;&nbsp;&nbsp; 1482 | 1496457 |
| &nbsp;&nbsp;&nbsp; 4.95%, 04/01/33 | &nbsp;&nbsp;&nbsp; 1546 | 1531881 |
| &nbsp;&nbsp;&nbsp; 5.05%, 03/01/35 | &nbsp;&nbsp;&nbsp; 417 | 410372 |
| &nbsp;&nbsp;&nbsp; Series ai., 4.45%, 10/01/32 | &nbsp;&nbsp;&nbsp; 361 | 349443 |
| CenterPoint Energy Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.40%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1815 | 1865750 |
| &nbsp;&nbsp;&nbsp; 6.70%, 05/15/55, (5-year CMT + 2.586%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1236 | 1233597 |
| Consumers Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 05/15/33 | &nbsp;&nbsp;&nbsp; 1436 | 1397917 |
| &nbsp;&nbsp;&nbsp; 4.70%, 01/15/30 | &nbsp;&nbsp;&nbsp; 1965 | 1980781 |
| Dominion Energy Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.35%, (5-year CMT + 3.195%)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp;&nbsp; 5315 | 5193960 |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1975 | 1954847 |
| &nbsp;&nbsp;&nbsp; Dominion Energy South Carolina Inc., 6.25%, <br> 10/15/53<br>| &nbsp;&nbsp;&nbsp; 1076 | 1127968 |
| DTE Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp; 5.20%, 04/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1312 | 1330272 |
| &nbsp;&nbsp;&nbsp; 5.20%, 03/01/34 | &nbsp;&nbsp;&nbsp; 1057 | 1060072 |
| DTE Energy Co., 5.85%, 06/01/34 | &nbsp;&nbsp;&nbsp; 4299 | 4430886 |
| Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp; 2.85%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 650 | 574397 |
| &nbsp;&nbsp;&nbsp; 3.20%, 08/15/49 | &nbsp;&nbsp;&nbsp; 3919 | 2565328 |
| &nbsp;&nbsp;&nbsp; 4.95%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 784 | 784495 |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/15/35 | &nbsp;&nbsp;&nbsp; 411 | 412957 |
| Duke Energy Florida LLC |  |  |
| &nbsp;&nbsp;&nbsp; 2.40%, 12/15/31 | &nbsp;&nbsp;&nbsp; 1015 | 882771 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1445 | 1516697 |
| &nbsp;&nbsp;&nbsp; 6.20%, 11/15/53 | &nbsp;&nbsp;&nbsp; 992 | 1022735 |
| Duke Energy Indiana LLC, 5.40%, 04/01/53 | &nbsp;&nbsp;&nbsp; 1164 | 1073991 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 900 | 769947 |
| &nbsp;&nbsp;&nbsp; 3.40%, 04/01/32 | &nbsp;&nbsp;&nbsp; 633 | 578873 |
| &nbsp;&nbsp;&nbsp; 5.05%, 03/15/35 | &nbsp;&nbsp;&nbsp; 990 | 976953 |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/15/33 | &nbsp;&nbsp;&nbsp; 1362 | 1383959 |
| Emera U.S. Finance LP, 4.75%, 06/15/46 | &nbsp;&nbsp;&nbsp; 6700 | 5406959 |
| &nbsp;&nbsp;&nbsp; Entergy Corp., 7.13%, 12/01/54, (5-year CMT + <br> 2.670%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 5364 | 5484057 |
| Entergy Louisiana LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 03/15/33 | &nbsp;&nbsp;&nbsp; 1966 | 1825003 |
| &nbsp;&nbsp;&nbsp; 5.35%, 03/15/34 | &nbsp;&nbsp;&nbsp; 1085 | 1088549 |
| Entergy Texas Inc., 5.25%, 04/15/35 | &nbsp;&nbsp;&nbsp; 350 | 349187 |

---

------

Schedule of Investments (unaudited)(continued)

May 31, 2025

**iShares® Investment Grade Systematic Bond ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp; Evergy Inc., 6.65%, 06/01/55, (5-year CMT + <br> 2.558%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $1390 | $1375859 |
| Eversource Energy |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 05/15/33 | &nbsp;&nbsp;&nbsp; 4455 | 4375183 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/01/34 | &nbsp;&nbsp;&nbsp; 1466 | 1462271 |
| &nbsp;&nbsp;&nbsp; 5.85%, 04/15/31 | &nbsp;&nbsp;&nbsp; 443 | 461492 |
| &nbsp;&nbsp;&nbsp; 5.95%, 07/15/34 | &nbsp;&nbsp;&nbsp; 1561 | 1607514 |
| Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp; 3.95%, 03/01/48 | &nbsp;&nbsp;&nbsp; 4773 | 3692027 |
| &nbsp;&nbsp;&nbsp; 5.30%, 06/15/34 | &nbsp;&nbsp;&nbsp; 5229 | 5312014 |
| &nbsp;&nbsp;&nbsp; 5.80%, 03/15/65 | &nbsp;&nbsp;&nbsp; 160 | 157317 |
| Kentucky Utilities Co., 3.30%, 06/01/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 370 | 243614 |
| National Grid PLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.42%, 01/11/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1639 | 1651763 |
| &nbsp;&nbsp;&nbsp; 5.81%, 06/12/33 | &nbsp;&nbsp;&nbsp; 4100 | 4232736 |
| &nbsp;&nbsp;&nbsp; NextEra Energy Capital Holdings Inc., 6.70%, <br> 09/01/54, (5-year CMT + 2.364%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 4100 | 4156342 |
| Oncor Electric Delivery Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.65%, 11/01/29 | &nbsp;&nbsp;&nbsp; 1400 | 1406499 |
| &nbsp;&nbsp;&nbsp; 5.80%, 04/01/55<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 1160 | 1126342 |
| Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 06/15/28 | &nbsp;&nbsp;&nbsp; 1510 | 1423774 |
| &nbsp;&nbsp;&nbsp; 5.55%, 05/15/29 | &nbsp;&nbsp;&nbsp; 4400 | 4456799 |
| &nbsp;&nbsp;&nbsp; 6.10%, 01/15/29 | &nbsp;&nbsp;&nbsp; 4250 | 4390842 |
| PECO Energy Co., 5.25%, 09/15/54 | &nbsp;&nbsp;&nbsp; 1413 | 1300787 |
| PPL Electric Utilities Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.85%, 02/15/34 | &nbsp;&nbsp;&nbsp; 1319 | 1300971 |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/15/33 | &nbsp;&nbsp;&nbsp; 1227 | 1227230 |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/15/53 | &nbsp;&nbsp;&nbsp; 3451 | 3209023 |
| Public Service Co. of Colorado |  |  |
| &nbsp;&nbsp;&nbsp; 1.88%, 06/15/31 | &nbsp;&nbsp;&nbsp; 4022 | 3405395 |
| &nbsp;&nbsp;&nbsp; 5.35%, 05/15/34 | &nbsp;&nbsp;&nbsp; 165 | 164321 |
| &nbsp;&nbsp;&nbsp; 5.75%, 05/15/54 | &nbsp;&nbsp;&nbsp; 1502 | 1433517 |
| Public Service Co. of Oklahoma, 5.20%, 01/15/35 | &nbsp;&nbsp;&nbsp; 1647 | 1609595 |
| Public Service Electric & Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp; 3.10%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 639 | 575893 |
| &nbsp;&nbsp;&nbsp; 4.65%, 03/15/33 | &nbsp;&nbsp;&nbsp; 1252 | 1229838 |
| &nbsp;&nbsp;&nbsp; 4.85%, 08/01/34 | &nbsp;&nbsp;&nbsp; 1581 | 1556284 |
| &nbsp;&nbsp;&nbsp; 5.20%, 08/01/33 | &nbsp;&nbsp;&nbsp; 600 | 607223 |
| &nbsp;&nbsp;&nbsp; 5.30%, 08/01/54 | &nbsp;&nbsp;&nbsp; 1196 | 1112118 |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/01/54 | &nbsp;&nbsp;&nbsp; 1328 | 1262369 |
| &nbsp;&nbsp;&nbsp; Public Service Electric and Gas Co., Series Q, <br> 5.50%, 03/01/55<br>| &nbsp;&nbsp;&nbsp; 90 | 86367 |
| &nbsp;&nbsp;&nbsp; San Diego Gas & Electric Co., Series VVV, 1.70%, <br> 10/01/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 5030 | 4319533 |
| &nbsp;&nbsp;&nbsp; Sempra, 6.88%, 10/01/54, (5-year CMT + <br> 2.789%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 1830 | 1784180 |
| Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 4.40%, 07/01/46 | &nbsp;&nbsp;&nbsp; 446 | 360149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 21-A, 3.75%, 09/15/51, (5-year CMT + <br> 2.915%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 5466 | 5341911 |
| Southwestern Public Service Co., 6.00%, 06/01/54 | &nbsp;&nbsp;&nbsp; 1676 | 1642206 |
| Union Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp; 2.63%, 03/15/51 | &nbsp;&nbsp;&nbsp; 864 | 496946 |
| &nbsp;&nbsp;&nbsp; 5.20%, 04/01/34 | &nbsp;&nbsp;&nbsp; 1118 | 1117580 |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/15/53 | &nbsp;&nbsp;&nbsp; 1296 | 1212907 |
| Xcel Energy Inc., 5.45%, 08/15/33 | &nbsp;&nbsp;&nbsp; 2087 | 2092350 |
|  |  | 144798267 |
| **Electronics — 0.5%** | **Electronics — 0.5%** | **Electronics — 0.5%** |
| Keysight Technologies Inc., 4.95%, 10/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1696 | 1653625 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electronics (continued)** | **Electronics (continued)** | **Electronics (continued)** |
| Trimble Inc., 6.10%, 03/15/33 | &nbsp;&nbsp;&nbsp; $4133 | $4314442 |
|  |  | 5968067 |
| **Engineering & Construction — 0.3%** | **Engineering & Construction — 0.3%** | **Engineering & Construction — 0.3%** |
| Jacobs Engineering Group Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.90%, 03/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1191 | 1221992 |
| &nbsp;&nbsp;&nbsp; 6.35%, 08/18/28 | &nbsp;&nbsp;&nbsp; 712 | 743810 |
| MasTec Inc., 5.90%, 06/15/29 | &nbsp;&nbsp;&nbsp; 1440 | 1477562 |
|  |  | 3443364 |
| **Food — 1.9%** | **Food — 1.9%** | **Food — 1.9%** |
| Conagra Brands Inc., 5.30%, 11/01/38 | &nbsp;&nbsp;&nbsp; 5562 | 5212123 |
| Flowers Foods Inc., 5.75%, 03/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1322 | 1332951 |
| J.M. Smucker Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 6.20%, 11/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 143 | 151812 |
| &nbsp;&nbsp;&nbsp; 6.50%, 11/15/43 | &nbsp;&nbsp;&nbsp; 904 | 944973 |
| Pilgrim's Pride Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/01/32 | &nbsp;&nbsp;&nbsp; 1022 | 905160 |
| &nbsp;&nbsp;&nbsp; 6.25%, 07/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4786 | 4960665 |
| Sysco Corp., 6.60%, 04/01/50 | &nbsp;&nbsp;&nbsp; 2389 | 2524374 |
| Tyson Foods Inc., 5.70%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4720 | 4810701 |
|  |  | 20842759 |
| **Forest Products & Paper — 0.6%** | **Forest Products & Paper — 0.6%** | **Forest Products & Paper — 0.6%** |
| Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 01/15/32 | &nbsp;&nbsp;&nbsp; 990 | 846428 |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/15/31 | &nbsp;&nbsp;&nbsp; 6000 | 5440117 |
|  |  | 6286545 |
| **Gas — 0.5%** | **Gas — 0.5%** | **Gas — 0.5%** |
| National Fuel Gas Co. |  |  |
| &nbsp;&nbsp;&nbsp; 2.95%, 03/01/31 | &nbsp;&nbsp;&nbsp; 691 | 610273 |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1145 | 1167280 |
| &nbsp;&nbsp;&nbsp; 5.95%, 03/15/35 | &nbsp;&nbsp;&nbsp; 1150 | 1152657 |
| NiSource Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.35%, 04/01/34 | &nbsp;&nbsp;&nbsp; 1467 | 1471784 |
| &nbsp;&nbsp;&nbsp; 6.95%, 11/30/54, (5-year CMT + 2.451%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1270 | 1299503 |
|  |  | 5701497 |
| **Health Care - Products — 1.0%** | **Health Care - Products — 1.0%** | **Health Care - Products — 1.0%** |
| Smith & Nephew PLC, 2.03%, 10/14/30 | &nbsp;&nbsp;&nbsp; 6352 | 5511380 |
| STERIS Irish FinCo Unlimited Co. |  |  |
| &nbsp;&nbsp;&nbsp; 2.70%, 03/15/31 | &nbsp;&nbsp;&nbsp; 902 | 800052 |
| &nbsp;&nbsp;&nbsp; 3.75%, 03/15/51 | &nbsp;&nbsp;&nbsp; 1079 | 749028 |
| Zimmer Biomet Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.60%, 11/24/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2891 | 2522920 |
| &nbsp;&nbsp;&nbsp; 5.20%, 09/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1905 | 1879579 |
|  |  | 11462959 |
| **Health Care - Services — 4.1%** | **Health Care - Services — 4.1%** | **Health Care - Services — 4.1%** |
| Centene Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 02/15/30 | &nbsp;&nbsp;&nbsp; 2555 | 2328626 |
| &nbsp;&nbsp;&nbsp; 4.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5380 | 5254519 |
| Cigna Group (The) |  |  |
| &nbsp;&nbsp;&nbsp; 4.80%, 08/15/38 | &nbsp;&nbsp;&nbsp; 5687 | 5200737 |
| &nbsp;&nbsp;&nbsp; 4.80%, 07/15/46 | &nbsp;&nbsp;&nbsp; 4255 | 3611639 |
| &nbsp;&nbsp;&nbsp; 4.90%, 12/15/48 | &nbsp;&nbsp;&nbsp; 226 | 191518 |
| &nbsp;&nbsp;&nbsp; 5.25%, 02/15/34 | &nbsp;&nbsp;&nbsp; 220 | 219693 |
| Elevance Health Inc., 4.65%, 01/15/43 | &nbsp;&nbsp;&nbsp; 1129 | 965676 |
| HCA Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 03/15/32 | &nbsp;&nbsp;&nbsp; 5959 | 5406695 |
| &nbsp;&nbsp;&nbsp; 4.13%, 06/15/29 | &nbsp;&nbsp;&nbsp; 3405 | 3315443 |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/15/39 | &nbsp;&nbsp;&nbsp; 1724 | 1581069 |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/15/49 | &nbsp;&nbsp;&nbsp; 1224 | 1058617 |

---

------

Schedule of Investments (unaudited)(continued)

May 31, 2025

**iShares® Investment Grade Systematic Bond ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| IQVIA Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.70%, 05/15/28 | &nbsp;&nbsp;&nbsp; $1655 | $1680710 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/01/29 | &nbsp;&nbsp;&nbsp; 3749 | 3884286 |
| Laboratory Corp. of America Holdings |  |  |
| &nbsp;&nbsp;&nbsp; 4.70%, 02/01/45 | &nbsp;&nbsp;&nbsp; 482 | 407066 |
| &nbsp;&nbsp;&nbsp; 4.80%, 10/01/34 | &nbsp;&nbsp;&nbsp; 4630 | 4445574 |
| Universal Health Services Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.65%, 10/15/30 | &nbsp;&nbsp;&nbsp; 3693 | 3242087 |
| &nbsp;&nbsp;&nbsp; 2.65%, 01/15/32 | &nbsp;&nbsp;&nbsp; 1452 | 1206882 |
| &nbsp;&nbsp;&nbsp; 4.63%, 10/15/29 | &nbsp;&nbsp;&nbsp; 868 | 850639 |
| &nbsp;&nbsp;&nbsp; 5.05%, 10/15/34 | &nbsp;&nbsp;&nbsp; 560 | 525743 |
|  |  | 45377219 |
| **Holding Companies - Diversified — 2.4%** | **Holding Companies - Diversified — 2.4%** | **Holding Companies - Diversified — 2.4%** |
| Ares Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5007 | 5073780 |
| &nbsp;&nbsp;&nbsp; 5.95%, 07/15/29 | &nbsp;&nbsp;&nbsp; 1468 | 1494168 |
| Blackstone Secured Lending Fund |  |  |
| &nbsp;&nbsp;&nbsp; 2.85%, 09/30/28 | &nbsp;&nbsp;&nbsp; 1618 | 1493753 |
| &nbsp;&nbsp;&nbsp; 5.30%, 06/30/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 790 | 776113 |
| &nbsp;&nbsp;&nbsp; 5.35%, 04/13/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1920 | 1923978 |
| Blue Owl Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 06/11/28 | &nbsp;&nbsp;&nbsp; 763 | 703934 |
| &nbsp;&nbsp;&nbsp; 3.40%, 07/15/26 | &nbsp;&nbsp;&nbsp; 5245 | 5130690 |
| FS KKR Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 10/12/28 | &nbsp;&nbsp;&nbsp; 4461 | 4040567 |
| &nbsp;&nbsp;&nbsp; 6.13%, 01/15/30 | &nbsp;&nbsp;&nbsp; 267 | 262902 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1595 | 1622186 |
| Golub Capital BDC Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 08/24/26 | &nbsp;&nbsp;&nbsp; 810 | 783846 |
| &nbsp;&nbsp;&nbsp; 6.00%, 07/15/29 | &nbsp;&nbsp;&nbsp; 3917 | 3962678 |
|  |  | 27268595 |
| **Home Builders — 0.4%** | **Home Builders — 0.4%** | **Home Builders — 0.4%** |
| Meritage Homes Corp., 5.65%, 03/15/35 | &nbsp;&nbsp;&nbsp; 1400 | 1367027 |
| NVR Inc., 3.00%, 05/15/30 | &nbsp;&nbsp;&nbsp; 3604 | 3324340 |
|  |  | 4691367 |
| **Insurance — 4.5%** | **Insurance — 4.5%** | **Insurance — 4.5%** |
| &nbsp;&nbsp;&nbsp; American International Group Inc., 5.13%, <br> 03/27/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 3770 | 3771918 |
| American National Group Inc., 5.75%, 10/01/29 | &nbsp;&nbsp;&nbsp; 1620 | 1647574 |
| &nbsp;&nbsp;&nbsp; Aon Corp./Aon Global Holdings PLC, 5.35%, <br> 02/28/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 3104 | 3156723 |
| Arthur J Gallagher & Co. |  |  |
| &nbsp;&nbsp;&nbsp; 5.45%, 07/15/34 | &nbsp;&nbsp;&nbsp; 1180 | 1192610 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/54 | &nbsp;&nbsp;&nbsp; 207 | 223332 |
| Brown & Brown Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.38%, 03/15/31 | &nbsp;&nbsp;&nbsp; 884 | 766346 |
| &nbsp;&nbsp;&nbsp; 4.20%, 03/17/32 | &nbsp;&nbsp;&nbsp; 872 | 815133 |
| &nbsp;&nbsp;&nbsp; 5.65%, 06/11/34 | &nbsp;&nbsp;&nbsp; 1264 | 1277048 |
| CNA Financial Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 02/15/34 | &nbsp;&nbsp;&nbsp; 156 | 153628 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/15/33 | &nbsp;&nbsp;&nbsp; 1027 | 1036877 |
| Corebridge Financial Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.90%, 04/05/32 | &nbsp;&nbsp;&nbsp; 8 | 7364 |
| &nbsp;&nbsp;&nbsp; 5.75%, 01/15/34 | &nbsp;&nbsp;&nbsp; 406 | 413546 |
| &nbsp;&nbsp;&nbsp; 6.88%, 12/15/52, (5-year CMT + 3.846%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5225 | 5304147 |
| Fairfax Financial Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 03/03/31 | &nbsp;&nbsp;&nbsp; 844 | 770986 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/16/32 | &nbsp;&nbsp;&nbsp; 3814 | 3874878 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/07/33 | &nbsp;&nbsp;&nbsp; 1375 | 1413629 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| Fidelity National Financial Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.45%, 03/15/31 | &nbsp;&nbsp;&nbsp; $694 | $594206 |
| &nbsp;&nbsp;&nbsp; 3.40%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 811 | 748762 |
| First American Financial Corp., 2.40%, 08/15/31 | &nbsp;&nbsp;&nbsp; 1007 | 852542 |
| Markel Group Inc., 6.00%, 05/16/54 | &nbsp;&nbsp;&nbsp; 860 | 837350 |
| &nbsp;&nbsp;&nbsp; MetLife Inc., Series G, 6.35%, 03/15/55, (5-year <br> CMT + 2.078%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 5359 | 5390752 |
| Prudential Financial Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.70%, 10/01/50, (5-year CMT + 3.035%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 2756 | 2495524 |
| &nbsp;&nbsp;&nbsp; 5.70%, 09/15/48<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5340 | 5343104 |
| &nbsp;&nbsp;&nbsp; Reinsurance Group of America Inc., 5.75%, <br> 09/15/34<br>| &nbsp;&nbsp;&nbsp; 1556 | 1576536 |
| Willis North America Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.35%, 05/15/33 | &nbsp;&nbsp;&nbsp; 3837 | 3863971 |
| &nbsp;&nbsp;&nbsp; 5.90%, 03/05/54 | &nbsp;&nbsp;&nbsp; 2079 | 2005031 |
|  |  | 49533517 |
| **Internet — 0.9%** | **Internet — 0.9%** | **Internet — 0.9%** |
| Alphabet Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.05%, 08/15/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2610 | 1419351 |
| &nbsp;&nbsp;&nbsp; 2.25%, 08/15/60<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 9079 | 4738557 |
| VeriSign Inc., 2.70%, 06/15/31 | &nbsp;&nbsp;&nbsp; 4521 | 3973027 |
|  |  | 10130935 |
| **Iron & Steel — 0.6%** | **Iron & Steel — 0.6%** | **Iron & Steel — 0.6%** |
| ArcelorMittal SA |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/17/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 701 | 723330 |
| &nbsp;&nbsp;&nbsp; 6.80%, 11/29/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4753 | 5143293 |
| Steel Dynamics Inc., 5.38%, 08/15/34 | &nbsp;&nbsp;&nbsp; 1375 | 1373971 |
|  |  | 7240594 |
| **Lodging — 1.1%** | **Lodging — 1.1%** | **Lodging — 1.1%** |
| Choice Hotels International Inc., 5.85%, 08/01/34 | &nbsp;&nbsp;&nbsp; 1626 | 1602249 |
| Hyatt Hotels Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/30/29 | &nbsp;&nbsp;&nbsp; 1562 | 1573910 |
| &nbsp;&nbsp;&nbsp; 5.75%, 03/30/32 | &nbsp;&nbsp;&nbsp; 1350 | 1362789 |
| Marriott International Inc./MD |  |  |
| &nbsp;&nbsp;&nbsp; 5.30%, 05/15/34 | &nbsp;&nbsp;&nbsp; 352 | 349272 |
| &nbsp;&nbsp;&nbsp; 5.35%, 03/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5401 | 5327924 |
| &nbsp;&nbsp;&nbsp; Series GG, 3.50%, 10/15/32 | &nbsp;&nbsp;&nbsp; 150 | 133956 |
| &nbsp;&nbsp;&nbsp; Series HH, 2.85%, 04/15/31 | &nbsp;&nbsp;&nbsp; 2015 | 1803415 |
|  |  | 12153515 |
| **Machinery — 0.7%** | **Machinery — 0.7%** | **Machinery — 0.7%** |
| IDEX Corp., 4.95%, 09/01/29 | &nbsp;&nbsp;&nbsp; 1240 | 1248730 |
| Ingersoll Rand Inc., 5.70%, 08/14/33 | &nbsp;&nbsp;&nbsp; 4973 | 5118071 |
| &nbsp;&nbsp;&nbsp; Westinghouse Air Brake Technologies Corp., 5.61%, <br> 03/11/34<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1287 | 1311903 |
|  |  | 7678704 |
| **Manufacturing — 0.4%** | **Manufacturing — 0.4%** | **Manufacturing — 0.4%** |
| Carlisle Companies Inc., 2.75%, 03/01/30 | &nbsp;&nbsp;&nbsp; 3034 | 2784868 |
| Textron Inc., 5.50%, 05/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1437 | 1430394 |
|  |  | 4215262 |
| **Media — 0.8%** | **Media — 0.8%** | **Media — 0.8%** |
| Comcast Corp., 1.95%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1419 | 1228158 |
| Fox Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.48%, 01/25/39 | &nbsp;&nbsp;&nbsp; 4404 | 4216263 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/13/33 | &nbsp;&nbsp;&nbsp; 2118 | 2268128 |
| Walt Disney Co. (The), 6.65%, 11/15/37 | &nbsp;&nbsp;&nbsp; 790 | 890020 |
|  |  | 8602569 |
| **Mining — 0.6%** | **Mining — 0.6%** | **Mining — 0.6%** |
| Freeport-McMoRan Inc., 5.45%, 03/15/43 | &nbsp;&nbsp;&nbsp; 2344 | 2164475 |

---

------

Schedule of Investments (unaudited)(continued)

May 31, 2025

**iShares® Investment Grade Systematic Bond ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| Southern Copper Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/08/42 | &nbsp;&nbsp;&nbsp; $241 | $217580 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/23/45 | &nbsp;&nbsp;&nbsp; 2641 | 2516551 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/16/40 | &nbsp;&nbsp;&nbsp; 2041 | 2163078 |
|  |  | 7061684 |
| **Office & Business Equipment — 0.5%** | **Office & Business Equipment — 0.5%** | **Office & Business Equipment — 0.5%** |
| CDW LLC/CDW Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.28%, 12/01/28 | &nbsp;&nbsp;&nbsp; 618 | 584181 |
| &nbsp;&nbsp;&nbsp; 3.57%, 12/01/31 | &nbsp;&nbsp;&nbsp; 5503 | 4989673 |
| &nbsp;&nbsp;&nbsp; 5.55%, 08/22/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 518 | 510268 |
|  |  | 6084122 |
| **Oil & Gas — 2.3%** | **Oil & Gas — 2.3%** | **Oil & Gas — 2.3%** |
| Canadian Natural Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/15/29<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 1520 | 1513994 |
| &nbsp;&nbsp;&nbsp; 5.40%, 12/15/34<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 3956 | 3843224 |
| Coterra Energy Inc., 5.60%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1160 | 1150265 |
| Diamondback Energy Inc., 6.25%, 03/15/33 | &nbsp;&nbsp;&nbsp; 5080 | 5297906 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/15/29<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 2040 | 1993467 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/31<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 2340 | 2263699 |
| &nbsp;&nbsp;&nbsp; 6.38%, 04/01/29<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 1590 | 1628085 |
| Expand Energy Corp., 5.70%, 01/15/35 | &nbsp;&nbsp;&nbsp; 4022 | 3970509 |
| Valero Energy Corp., 6.63%, 06/15/37 | &nbsp;&nbsp;&nbsp; 4095 | 4298627 |
|  |  | 25959776 |
| **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** | **Packaging & Containers — 0.5%** |
| Amcor Finance USA Inc., 5.63%, 05/26/33 | &nbsp;&nbsp;&nbsp; 654 | 667962 |
| &nbsp;&nbsp;&nbsp; Amcor Flexibles North America Inc., 2.69%, <br> 05/25/31<br>| &nbsp;&nbsp;&nbsp; 4709 | 4155108 |
| Amcor Group Finance PLC, 5.45%, 05/23/29 | &nbsp;&nbsp;&nbsp; 682 | 695739 |
|  |  | 5518809 |
| **Pharmaceuticals — 3.1%** | **Pharmaceuticals — 3.1%** | **Pharmaceuticals — 3.1%** |
| AstraZeneca PLC, 6.45%, 09/15/37 | &nbsp;&nbsp;&nbsp; 3790 | 4184315 |
| Cardinal Health Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.35%, 11/15/34 | &nbsp;&nbsp;&nbsp; 5015 | 5004509 |
| &nbsp;&nbsp;&nbsp; 5.45%, 02/15/34 | &nbsp;&nbsp;&nbsp; 1378 | 1391416 |
| Cencora Inc., 2.70%, 03/15/31 | &nbsp;&nbsp;&nbsp; 5510 | 4915824 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.78%, 03/25/38 | &nbsp;&nbsp;&nbsp; 580 | 515463 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/63 | &nbsp;&nbsp;&nbsp; 140 | 128427 |
| Eli Lilly & Co. |  |  |
| &nbsp;&nbsp;&nbsp; 2.25%, 05/15/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 8469 | 4686906 |
| &nbsp;&nbsp;&nbsp; 2.50%, 09/15/60<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 7405 | 3959628 |
| Johnson & Johnson |  |  |
| &nbsp;&nbsp;&nbsp; 2.25%, 09/01/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 7240 | 4130501 |
| &nbsp;&nbsp;&nbsp; 2.45%, 09/01/60 | &nbsp;&nbsp;&nbsp; 9298 | 4972609 |
| Zoetis Inc., 4.70%, 02/01/43<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 496 | 441908 |
|  |  | 34331506 |
| **Pipelines — 8.3%** | **Pipelines — 8.3%** | **Pipelines — 8.3%** |
| Boardwalk Pipelines LP |  |  |
| &nbsp;&nbsp;&nbsp; 3.40%, 02/15/31 | &nbsp;&nbsp;&nbsp; 150 | 137053 |
| &nbsp;&nbsp;&nbsp; 3.60%, 09/01/32 | &nbsp;&nbsp;&nbsp; 250 | 221872 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/01/34 | &nbsp;&nbsp;&nbsp; 1589 | 1576098 |
| Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.70%, 11/15/29 | &nbsp;&nbsp;&nbsp; 911 | 872800 |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/30/27 | &nbsp;&nbsp;&nbsp; 4747 | 4782892 |
| Cheniere Energy Inc., 5.65%, 04/15/34 | &nbsp;&nbsp;&nbsp; 5244 | 5233104 |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%, 01/31/32 | &nbsp;&nbsp;&nbsp; 579 | 508022 |
| &nbsp;&nbsp;&nbsp; 4.00%, 03/01/31 | &nbsp;&nbsp;&nbsp; 5677 | 5319314 |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/15/34 | &nbsp;&nbsp;&nbsp; 298 | 299063 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp; 5.95%, 06/30/33 | &nbsp;&nbsp;&nbsp; $345 | $353003 |
| Enbridge Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 07/15/77, (3-mo. CME Term SOFR + <br> 3.680%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 5485 | 5347546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 03/01/78, (3-mo. CME Term SOFR + <br> 3.903%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 2685 | 2641197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 20-A, 5.75%, 07/15/80, (5-year CMT + <br> 5.314%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 2029 | 1960189 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2230 | 2274159 |
| &nbsp;&nbsp;&nbsp; 6.55%, 12/01/33 | &nbsp;&nbsp;&nbsp; 4738 | 5032415 |
| &nbsp;&nbsp;&nbsp; Enterprise Products Operating LLC, Series E, <br> 5.25%, 08/16/77, (3-mo. CME Term SOFR + <br> 3.295%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 5511 | 5422639 |
| Kinder Morgan Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.80%, 02/01/33 | &nbsp;&nbsp;&nbsp; 3848 | 3716370 |
| &nbsp;&nbsp;&nbsp; 5.20%, 06/01/33 | &nbsp;&nbsp;&nbsp; 2594 | 2560061 |
| &nbsp;&nbsp;&nbsp; 5.30%, 12/01/34 | &nbsp;&nbsp;&nbsp; 1014 | 991574 |
| MPLX LP |  |  |
| &nbsp;&nbsp;&nbsp; 2.65%, 08/15/30 | &nbsp;&nbsp;&nbsp; 568 | 508259 |
| &nbsp;&nbsp;&nbsp; 4.50%, 04/15/38 | &nbsp;&nbsp;&nbsp; 3851 | 3320700 |
| &nbsp;&nbsp;&nbsp; 5.00%, 03/01/33 | &nbsp;&nbsp;&nbsp; 4440 | 4308881 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/01/34 | &nbsp;&nbsp;&nbsp; 327 | 322345 |
| ONEOK Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.65%, 09/01/34 | &nbsp;&nbsp;&nbsp; 1170 | 1162140 |
| &nbsp;&nbsp;&nbsp; 6.05%, 09/01/33 | &nbsp;&nbsp;&nbsp; 3985 | 4088697 |
| &nbsp;&nbsp;&nbsp; 6.10%, 11/15/32 | &nbsp;&nbsp;&nbsp; 1767 | 1838125 |
| Sabine Pass Liquefaction LLC, 4.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5398 | 5318362 |
| Targa Resources Corp., 6.13%, 03/15/33 | &nbsp;&nbsp;&nbsp; 1920 | 1977519 |
| &nbsp;&nbsp;&nbsp; Targa Resources Partners LP/Targa Resources <br> Partners Finance Corp., 4.00%, 01/15/32<br>| &nbsp;&nbsp;&nbsp; 5820 | 5321910 |
| Transcanada Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.30%, 03/15/77<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 5641 | 5486879 |
| &nbsp;&nbsp;&nbsp; Series 16-A, 5.88%, 08/15/76<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 2198 | 2182547 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp; 4.05%, 02/01/30 | &nbsp;&nbsp;&nbsp; 1092 | 1038093 |
| &nbsp;&nbsp;&nbsp; 5.45%, 11/15/34 | &nbsp;&nbsp;&nbsp; 180 | 172782 |
| &nbsp;&nbsp;&nbsp; 6.15%, 04/01/33 | &nbsp;&nbsp;&nbsp; 3893 | 3976376 |
| &nbsp;&nbsp;&nbsp; 6.35%, 01/15/29 | &nbsp;&nbsp;&nbsp; 1366 | 1418253 |
|  |  | 91691239 |
| **Real Estate — 0.5%** | **Real Estate — 0.5%** | **Real Estate — 0.5%** |
| CBRE Services Inc., 5.95%, 08/15/34 | &nbsp;&nbsp;&nbsp; 5089 | 5259679 |
| **Real Estate Investment Trusts — 6.0%** | **Real Estate Investment Trusts — 6.0%** | **Real Estate Investment Trusts — 6.0%** |
| American Homes 4 Rent LP |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 980 | 889624 |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/15/35 | &nbsp;&nbsp;&nbsp; 1065 | 1039785 |
| &nbsp;&nbsp;&nbsp; 5.50%, 02/01/34 | &nbsp;&nbsp;&nbsp; 1423 | 1420102 |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/15/34 | &nbsp;&nbsp;&nbsp; 1329 | 1323537 |
| American Tower Corp., 2.90%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2294 | 2118263 |
| Brixmor Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp; 4.05%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2012 | 1927618 |
| &nbsp;&nbsp;&nbsp; 4.13%, 05/15/29 | &nbsp;&nbsp;&nbsp; 2519 | 2450838 |
| Cousins Properties LP, 5.88%, 10/01/34 | &nbsp;&nbsp;&nbsp; 883 | 891156 |
| Crown Castle Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.30%, 07/01/30 | &nbsp;&nbsp;&nbsp; 1440 | 1331539 |
| &nbsp;&nbsp;&nbsp; 5.10%, 05/01/33 | &nbsp;&nbsp;&nbsp; 3980 | 3899997 |
| &nbsp;&nbsp;&nbsp; 5.80%, 03/01/34 | &nbsp;&nbsp;&nbsp; 2915 | 2975435 |
| &nbsp;&nbsp;&nbsp; Equinix Europe 2 Financing Corp. LLC, 5.50%, <br> 06/15/34<br>| &nbsp;&nbsp;&nbsp; 3895 | 3951430 |

---

------

Schedule of Investments (unaudited)(continued)

May 31, 2025

**iShares® Investment Grade Systematic Bond ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Extra Space Storage LP |  |  |
| &nbsp;&nbsp;&nbsp; 5.40%, 02/01/34 | &nbsp;&nbsp;&nbsp; $1329 | $1321254 |
| &nbsp;&nbsp;&nbsp; 5.90%, 01/15/31 | &nbsp;&nbsp;&nbsp; 1419 | 1480242 |
| GLP Capital LP/GLP Financing II Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%, 01/15/32 | &nbsp;&nbsp;&nbsp; 4371 | 3781408 |
| &nbsp;&nbsp;&nbsp; 5.30%, 01/15/29 | &nbsp;&nbsp;&nbsp; 2564 | 2568218 |
| Healthcare Realty Holdings LP, 2.00%, 03/15/31 | &nbsp;&nbsp;&nbsp; 4997 | 4200131 |
| Host Hotels & Resorts LP |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/15/35 | &nbsp;&nbsp;&nbsp; 378 | 363739 |
| &nbsp;&nbsp;&nbsp; 5.70%, 07/01/34 | &nbsp;&nbsp;&nbsp; 1566 | 1539973 |
| &nbsp;&nbsp;&nbsp; Series I, 3.50%, 09/15/30 | &nbsp;&nbsp;&nbsp; 4299 | 3915942 |
| Invitation Homes Operating Partnership LP |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 08/15/31 | &nbsp;&nbsp;&nbsp; 911 | 762695 |
| &nbsp;&nbsp;&nbsp; 4.15%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 875 | 815133 |
| &nbsp;&nbsp;&nbsp; 4.88%, 02/01/35 | &nbsp;&nbsp;&nbsp; 998 | 949575 |
| NNN REIT Inc., 5.50%, 06/15/34 | &nbsp;&nbsp;&nbsp; 835 | 835999 |
| Sabra Health Care LP, 3.20%, 12/01/31 | &nbsp;&nbsp;&nbsp; 4844 | 4218848 |
| Sun Communities Operating LP |  |  |
| &nbsp;&nbsp;&nbsp; 2.70%, 07/15/31 | &nbsp;&nbsp;&nbsp; 4399 | 3832069 |
| &nbsp;&nbsp;&nbsp; 4.20%, 04/15/32 | &nbsp;&nbsp;&nbsp; 768 | 718132 |
| Ventas Realty LP, 5.63%, 07/01/34 | &nbsp;&nbsp;&nbsp; 1277 | 1291588 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp; 4.95%, 02/15/30 | &nbsp;&nbsp;&nbsp; 1119 | 1110208 |
| &nbsp;&nbsp;&nbsp; 5.13%, 05/15/32 | &nbsp;&nbsp;&nbsp; 5197 | 5092467 |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 166 | 166566 |
| Welltower OP LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.10%, 01/15/30 | &nbsp;&nbsp;&nbsp; 2824 | 2651604 |
| &nbsp;&nbsp;&nbsp; 3.85%, 06/15/32 | &nbsp;&nbsp;&nbsp; 448 | 419647 |
|  |  | 66254762 |
| **Retail — 1.8%** | **Retail — 1.8%** | **Retail — 1.8%** |
| AutoNation Inc., 5.89%, 03/15/35 | &nbsp;&nbsp;&nbsp; 1370 | 1362424 |
| AutoZone Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.40%, 07/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1878 | 1892399 |
| &nbsp;&nbsp;&nbsp; 6.55%, 11/01/33 | &nbsp;&nbsp;&nbsp; 1126 | 1223802 |
| Darden Restaurants Inc., 6.30%, 10/10/33 | &nbsp;&nbsp;&nbsp; 1019 | 1079024 |
| Dick's Sporting Goods Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.15%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4363 | 3839389 |
| &nbsp;&nbsp;&nbsp; 4.10%, 01/15/52 | &nbsp;&nbsp;&nbsp; 2149 | 1473234 |
| Ferguson Enterprises Inc., 5.00%, 10/03/34 | &nbsp;&nbsp;&nbsp; 4175 | 4019102 |
| Genuine Parts Co., 4.95%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4012 | 4047865 |
| Walmart Inc., 2.65%, 09/22/51<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1146 | 703996 |
|  |  | 19641235 |
| **Semiconductors — 1.4%** | **Semiconductors — 1.4%** | **Semiconductors — 1.4%** |
| Micron Technology Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.80%, 01/15/35 | &nbsp;&nbsp;&nbsp; 1670 | 1683059 |
| &nbsp;&nbsp;&nbsp; 6.05%, 11/01/35 | &nbsp;&nbsp;&nbsp; 5400 | 5506454 |
| NXP BV/NXP Funding LLC/NXP USA Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.40%, 05/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 497 | 464227 |
| &nbsp;&nbsp;&nbsp; 4.30%, 06/18/29 | &nbsp;&nbsp;&nbsp; 4882 | 4787781 |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1252 | 1221120 |
| TSMC Arizona Corp., 3.25%, 10/25/51<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2625 | 1862744 |
|  |  | 15525385 |
| **Software — 4.2%** | **Software — 4.2%** | **Software — 4.2%** |
| Atlassian Corp., 5.50%, 05/15/34 | &nbsp;&nbsp;&nbsp; 1303 | 1314651 |
| Broadridge Financial Solutions Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.60%, 05/01/31 | &nbsp;&nbsp;&nbsp; 2936 | 2583394 |
| &nbsp;&nbsp;&nbsp; 2.90%, 12/01/29 | &nbsp;&nbsp;&nbsp; 3390 | 3135158 |
| Fiserv Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3972 | 3981753 |
| &nbsp;&nbsp;&nbsp; 5.60%, 03/02/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3937 | 4007864 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Microsoft Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 2.68%, 06/01/60<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $9065 | $5237772 |
| &nbsp;&nbsp;&nbsp; 3.04%, 03/17/62 | &nbsp;&nbsp;&nbsp; 8481 | 5354502 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 03/25/31 | &nbsp;&nbsp;&nbsp; 363 | 327258 |
| &nbsp;&nbsp;&nbsp; 2.95%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1591 | 1473356 |
| &nbsp;&nbsp;&nbsp; 3.90%, 05/15/35 | &nbsp;&nbsp;&nbsp; 866 | 767654 |
| &nbsp;&nbsp;&nbsp; 4.30%, 07/08/34 | &nbsp;&nbsp;&nbsp; 4946 | 4600075 |
| &nbsp;&nbsp;&nbsp; 5.38%, 07/15/40 | &nbsp;&nbsp;&nbsp; 5117 | 4847682 |
| &nbsp;&nbsp;&nbsp; 6.25%, 11/09/32 | &nbsp;&nbsp;&nbsp; 3287 | 3509311 |
| VMware LLC |  |  |
| &nbsp;&nbsp;&nbsp; 1.80%, 08/15/28 | &nbsp;&nbsp;&nbsp; 4545 | 4159331 |
| &nbsp;&nbsp;&nbsp; 4.70%, 05/15/30 | &nbsp;&nbsp;&nbsp; 1349 | 1341519 |
|  |  | 46641280 |
| **Telecommunications — 5.2%** | **Telecommunications — 5.2%** | **Telecommunications — 5.2%** |
| AT&T Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 529 | 497621 |
| &nbsp;&nbsp;&nbsp; 5.40%, 02/15/34 | &nbsp;&nbsp;&nbsp; 887 | 899055 |
| British Telecommunications PLC, 9.63%, 12/15/30 | &nbsp;&nbsp;&nbsp; 4301 | 5246193 |
| Corning Inc., 5.45%, 11/15/79 | &nbsp;&nbsp;&nbsp; 1073 | 935082 |
| &nbsp;&nbsp;&nbsp; Deutsche Telekom International Finance BV, 8.75%, <br> 06/15/30<br>| &nbsp;&nbsp;&nbsp; 4555 | 5339273 |
| Motorola Solutions Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.30%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1164 | 1023005 |
| &nbsp;&nbsp;&nbsp; 2.75%, 05/24/31 | &nbsp;&nbsp;&nbsp; 1634 | 1447626 |
| &nbsp;&nbsp;&nbsp; 5.40%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2854 | 2868428 |
| Orange SA, 9.00%, 03/01/31 | &nbsp;&nbsp;&nbsp; 4344 | 5245635 |
| Sprint Capital Corp., 8.75%, 03/15/32 | &nbsp;&nbsp;&nbsp; 4414 | 5287087 |
| Telefonica Emisiones SA |  |  |
| &nbsp;&nbsp;&nbsp; 5.21%, 03/08/47 | &nbsp;&nbsp;&nbsp; 1811 | 1563434 |
| &nbsp;&nbsp;&nbsp; 7.05%, 06/20/36 | &nbsp;&nbsp;&nbsp; 4733 | 5180798 |
| TELUS Corp., 3.40%, 05/13/32 | &nbsp;&nbsp;&nbsp; 5359 | 4785085 |
| T-Mobile USA Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.40%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 255 | 235754 |
| &nbsp;&nbsp;&nbsp; 2.55%, 02/15/31 | &nbsp;&nbsp;&nbsp; 3043 | 2695258 |
| &nbsp;&nbsp;&nbsp; 2.70%, 03/15/32 | &nbsp;&nbsp;&nbsp; 716 | 622238 |
| &nbsp;&nbsp;&nbsp; 3.60%, 11/15/60 | &nbsp;&nbsp;&nbsp; 5194 | 3375038 |
| &nbsp;&nbsp;&nbsp; 3.88%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 5249 | 5061439 |
| &nbsp;&nbsp;&nbsp; 4.38%, 04/15/40 | &nbsp;&nbsp;&nbsp; 2328 | 2018688 |
| &nbsp;&nbsp;&nbsp; 4.50%, 04/15/50 | &nbsp;&nbsp;&nbsp; 454 | 366285 |
| Verizon Communications Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.27%, 01/15/36 | &nbsp;&nbsp;&nbsp; 1510 | 1374843 |
| &nbsp;&nbsp;&nbsp; 4.40%, 11/01/34 | &nbsp;&nbsp;&nbsp; 1353 | 1267102 |
| &nbsp;&nbsp;&nbsp; 4.50%, 08/10/33 | &nbsp;&nbsp;&nbsp; 54 | 51749 |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/16/37 | &nbsp;&nbsp;&nbsp; 675 | 662085 |
|  |  | 58048801 |
| **Transportation — 1.2%** | **Transportation — 1.2%** | **Transportation — 1.2%** |
| FedEx Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 2.40%, 05/15/31<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; 1935 | 1699928 |
| &nbsp;&nbsp;&nbsp; 3.25%, 05/15/41<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 2480 | 1711554 |
| &nbsp;&nbsp;&nbsp; 5.10%, 01/15/44<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 1710 | 1460963 |
| Union Pacific Corp., 3.80%, 04/06/71 | &nbsp;&nbsp;&nbsp; 8126 | 5379639 |
| United Parcel Service Inc., 6.20%, 01/15/38 | &nbsp;&nbsp;&nbsp; 3258 | 3473545 |
|  |  | 13725629 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| Essential Utilities Inc., 5.38%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1265 | 1261485 |
| **Total Long-Term Investments — 97.8%** <br>**(Cost: $1,094,726,263)** | **Total Long-Term Investments — 97.8%** <br>**(Cost: $1,094,726,263)** | 1085942406 |

---

------

Schedule of Investments (unaudited)(continued)

May 31, 2025

**iShares® Investment Grade Systematic Bond ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 7.8%** | **Money Market Funds — 7.8%** | **Money Market Funds — 7.8%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 4.46%<sup>(e)(f)(g)</sup><br>| &nbsp;&nbsp;&nbsp; 78466164 | $78497551 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.30%<sup>(e)(f)</sup><br>| &nbsp;&nbsp;&nbsp; 8560000 | 8560000 |
| **Total Short-Term Securities — 7.8%** <br>**(Cost: $87,047,055)** | **Total Short-Term Securities — 7.8%** <br>**(Cost: $87,047,055)** | 87057551 |
| **Total Investments — 105.6%** <br>**(Cost: $1,181,773,318)** | **Total Investments — 105.6%** <br>**(Cost: $1,181,773,318)** | 1172999957 |
| **Liabilities in Excess of Other Assets — (5.6)%** | **Liabilities in Excess of Other Assets — (5.6)%** | (62330826)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $1110669131 |

---

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

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

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

<sup>(d)</sup> Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors. 

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

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

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

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended May 31, 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>*02/28/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*05/31/25*<br>| *Shares* <br>*Held at* <br>*05/31/25*<br>| *Income* | &nbsp;&nbsp; *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $102003185 | $— | &nbsp;&nbsp; $(23498334 )<sup>(a)</sup><br>| &nbsp;&nbsp; $(1720)<br>| $(5580)<br>| $78497551 | 78466164 | $42227 <br><sup>(b)</sup><br>| $— |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL <br> Agency Shares<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2270000 | 6290000 <br><sup>(a)</sup><br>| &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;&nbsp; 8560000 | 8560000 | &nbsp;&nbsp;&nbsp; 73385 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  | $(1720) | $(5580) | $87057551 |  | $115612 | $— |

---

&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:

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

• 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;&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

------

Schedule of Investments (unaudited)(continued)

May 31, 2025

**iShares® Investment Grade Systematic Bond ETF**

**Fair Value Hierarchy as of Period End (continued)**

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* |
| Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1085942406 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1085942406 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 87057551 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 87057551 |
|  | &nbsp;&nbsp; $87057551 | &nbsp;&nbsp; $1085942406 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $1172999957 |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| CMT | Constant Maturity Treasury |
| 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 Investment Grade Systematic Bond ETF

- **b. EDGAR series identifier (if any):** S000057342

- **c. LEI of Series:** 549300QBLHV9U0KL0M22

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

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-05-31

**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:** $1264481790.98

**Total Liabilities:** $153690105.51

**Net Assets:** $1110791685.47

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 1.11000000 | **1-Year:** 20388.13000000 | **5-Year:** 295906.80000000 | **10-Year:** 205631.65000000 | **30-Year:** 195952.48000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000182993 | -0.19%               | -0.12%               | 0.30%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $588842.57               | $-7249577.68                               |
| Month 2  | $-116156.24              | $-5939779.12                               |
| Month 3  | $-1225124.24             | $111200.83                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| CENCORA INC                                    | Cencora Inc                                                         | CUSIP: 03073EAT2<br>LEI: AI8GXW8LG5WK7E9UD086 | Long             | DBT              | CORP              | US        |   5510000 | PA      | $4915823.97   | 0.44%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                          | Universal Health Services Inc                                       | CUSIP: 913903BC3<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |    560000 | PA      | $525743.34    | 0.05%             | 2034-10-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                              | Brown & Brown Inc                                                   | CUSIP: 115236AC5<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    884000 | PA      | $766346.23    | 0.07%             | 2031-03-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc                                     | Zoetis Inc                                                          | CUSIP: 98978VAH6<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |    496000 | PA      | $441908.27    | 0.04%             | 2043-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: —       |
| MORGAN STANLEY                                 | Morgan Stanley                                                      | CUSIP: 6174468P7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   1857000 | PA      | $1760748.55   | 0.16%             | 2031-04-01      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                                     | FedEx Corp                                                          | CUSIP: 31428XCK0<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    955000 | PA      | $838982.66    | 0.08%             | 2031-05-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: —       |
| AUTOZONE INC                                   | AutoZone Inc                                                        | CUSIP: 053332BH4<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |   1126000 | PA      | $1223801.64   | 0.11%             | 2033-11-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                        | Public Service Electric and Gas Co                                  | CUSIP: 74456QCT1<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |   1196000 | PA      | $1112117.80   | 0.10%             | 2054-08-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON                       | CenterPoint Energy Houston Electric LLC                             | CUSIP: 15189XBF4<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |    417000 | PA      | $410371.82    | 0.04%             | 2035-03-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Orange SA                                      | Orange SA                                                           | CUSIP: 35177PAL1<br>LEI: 969500MCOONR8990S771 | Long             | DBT              | CORP              | FR        |   4344000 | PA      | $5245635.51   | 0.47%             | 2031-03-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY SOUTH                          | Dominion Energy South Carolina Inc                                  | CUSIP: 25731VAB0<br>LEI: 3QRVFYR22IUIEOORTK28 | Long             | DBT              | CORP              | US        |   1076000 | PA      | $1127967.68   | 0.10%             | 2053-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Citigroup Inc                                  | Citigroup Inc                                                       | CUSIP: 172967KN0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |    238000 | PA      | $235587.17    | 0.02%             | 2026-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: —       |
| LPL HOLDINGS INC                               | LPL Holdings Inc                                                    | CUSIP: 50212YAM6<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   1475000 | PA      | $1454634.14   | 0.13%             | 2035-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: —       |
| BLACKSTONE SECURED LEND                        | Blackstone Secured Lending Fund                                     | CUSIP: 09261XAG7<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |   1618000 | PA      | $1493752.53   | 0.13%             | 2028-09-30      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                         | Verizon Communications Inc                                          | CUSIP: 92343VEA8<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     54000 | PA      | $51748.65     | 0.00%             | 2033-08-10      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NISOURCE INC                                   | NiSource Inc                                                        | CUSIP: 65473PAQ8<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   1467000 | PA      | $1471784.21   | 0.13%             | 2034-04-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                       | Cheniere Energy Partners LP                                         | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |   5677000 | PA      | $5319314.09   | 0.48%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                          | Duke Energy Carolinas LLC                                           | CUSIP: 26442CBQ6<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    411000 | PA      | $412957.04    | 0.04%             | 2035-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                | Cigna Group/The                                                     | CUSIP: 125523CF5<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   4255000 | PA      | $3611638.55   | 0.33%             | 2046-07-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Florida Power & Light Co                       | Florida Power & Light Co                                            | CUSIP: 341081FQ5<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   4773000 | PA      | $3692026.57   | 0.33%             | 2048-03-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS LP                       | Host Hotels & Resorts LP                                            | CUSIP: 44107TBB1<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              |  | US        |   1566000 | PA      | $1539972.95   | 0.14%             | 2034-07-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                        | Canadian Natural Resources Ltd                                      | CUSIP: 136385BB6<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |   2600000 | PA      | $2589726.18   | 0.23%             | 2029-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                       | Florida Power & Light Co                                            | CUSIP: 341081GU5<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   5229000 | PA      | $5312014.19   | 0.48%             | 2034-06-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                 | CUSIP: 48128BAQ4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   2764000 | PA      | $2881991.18   | 0.26%             | 2029-06-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| CNA FINANCIAL CORP                             | CNA Financial Corp                                                  | CUSIP: 126117AY6<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |   1266000 | PA      | $1246746.49   | 0.11%             | 2034-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CNA FINANCIAL CORP                             | CNA Financial Corp                                                  | CUSIP: 126117AX8<br>LEI: 549300YX2GSZD7YG1R84 | Long             | DBT              | CORP              | US        |   1027000 | PA      | $1036877.01   | 0.09%             | 2033-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN EXPRESS CO                            | American Express Co                                                 | CUSIP: 025816CH0<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   5407000 | PA      | $5228858.33   | 0.47%             | 2026-09-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                    | Southern Co/The                                                     | CUSIP: 842587CX3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |    446000 | PA      | $360149.09    | 0.03%             | 2046-07-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                      | CUSIP: 61747YFJ9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |    382000 | PA      | $414532.97    | 0.04%             | 2034-11-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                         | Pacific Gas and Electric Co                                         | CUSIP: 694308KQ9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   4400000 | PA      | $4456799.38   | 0.40%             | 2029-05-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMERICAN PIPE                       | Plains All American Pipeline LP                                     | CUSIP: 72650RBQ4<br>LEI: 5521FA2ITF25TVH63740 | Long             | DBT              | CORP              | US        |   2060000 | PA      | $2056684.16   | 0.19%             | 2035-06-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| UNITED PARCEL SERVICE                          | United Parcel Service Inc                                           | CUSIP: 911312AJ5<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | DBT              | CORP              | US        |   3258000 | PA      | $3473544.88   | 0.31%             | 2038-01-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: —       |
| BLUE OWL CAPITAL CORP                          | Blue Owl Capital Corp                                               | CUSIP: 69121KAG9<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |    763000 | PA      | $703933.67    | 0.06%             | 2028-06-11      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| FERGUSON ENTERPRISES INC                       | Ferguson Enterprises Inc                                            | CUSIP: 31488VAA5<br>LEI: 2138003JYQMRP3SLX189 | Long             | DBT              | CORP              | US        |   4175000 | PA      | $4019102.58   | 0.36%             | 2034-10-03      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                       | RTX Corp                                                            | CUSIP: 913017BT5<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |   3534000 | PA      | $3057135.75   | 0.28%             | 2042-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                    | CUSIP: 87264ACS2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    255000 | PA      | $235753.63    | 0.02%             | 2029-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: —       |
| ING GROEP NV                                   | ING Groep NV                                                        | CUSIP: 456837BH5<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |   3850000 | PA      | $4045856.62   | 0.36%             | 2034-09-11      | Fixed         | 6.11%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                         | Marriott International Inc/MD                                       | CUSIP: 571903BG7<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |   2015000 | PA      | $1803414.88   | 0.16%             | 2031-04-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                              | Kinder Morgan Inc                                                   | CUSIP: 49456BAV3<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   3848000 | PA      | $3716369.58   | 0.33%             | 2033-02-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                        | GLP Capital LP / GLP Financing II Inc                               | CUSIP: 361841AR0<br>LEI: N/A                  | Long             | DBT              |  | US        |   4371000 | PA      | $3781408.05   | 0.34%             | 2032-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| LYB INT FINANCE III                            | LYB International Finance III LLC                                   | CUSIP: 50249AAL7<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |    853000 | PA      | $857123.84    | 0.08%             | 2033-05-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| AT&T Inc                                       | AT&T Inc                                                            | CUSIP: 00206RCP5<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    529000 | PA      | $497620.99    | 0.04%             | 2035-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| PHILIP MORRIS INTL INC                         | Philip Morris International Inc                                     | CUSIP: 718172DB2<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   2432000 | PA      | $2479873.75   | 0.22%             | 2033-02-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ENTERPRIS                       | Public Service Enterprise Group Inc                                 | CUSIP: 744573AZ9<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | DBT              | CORP              | US        |    408000 | PA      | $411581.51    | 0.04%             | 2034-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| ALTRIA GROUP INC                               | Altria Group Inc                                                    | CUSIP: 02209SBJ1<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |    732000 | PA      | $686721.59    | 0.06%             | 2030-05-06      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| PNC FINANCIAL SERVICES                         | PNC Financial Services Group Inc/The                                | CUSIP: 693475BF1<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | DBT              | CORP              | US        |   5295000 | PA      | $5369024.10   | 0.48%             | 2027-09-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: —       |
| NXP BV/NXP FDG/NXP USA                         | NXP BV / NXP Funding LLC / NXP USA Inc                              | CUSIP: 62954HBB3<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1252000 | PA      | $1221119.77   | 0.11%             | 2033-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                         | CUSIP: 38141GA46<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2617000 | PA      | $2760850.44   | 0.25%             | 2029-10-24      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| VMWARE LLC                                     | VMware LLC                                                          | CUSIP: 928563AF2<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |   1349000 | PA      | $1341519.35   | 0.12%             | 2030-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                    | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   2220000 | PA      | $2229489.68   | 0.20%             | 2034-04-24      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                               | BAT Capital Corp                                                    | CUSIP: 054989AB4<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    829000 | PA      | $888692.60    | 0.08%             | 2033-08-02      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                          | Duke Energy Carolinas LLC                                           | CUSIP: 26442CBG8<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    650000 | PA      | $574397.38    | 0.05%             | 2032-03-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: —       |
| CENTENE CORP                                   | Centene Corp                                                        | CUSIP: 15135BAR2<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   5380000 | PA      | $5254518.49   | 0.47%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                         | CenterPoint Energy Inc                                              | CUSIP: 15189TBP1<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   1236000 | PA      | $1233596.96   | 0.11%             | 2055-05-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                 | Morgan Stanley                                                      | CUSIP: 6174468L6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   7345000 | PA      | $6700472.72   | 0.60%             | 2031-01-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                   | Enbridge Inc                                                        | CUSIP: 29250NAW5<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   2685000 | PA      | $2641197.18   | 0.24%             | 2078-03-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| STERIS PLC                                     | STERIS Irish FinCo UnLtd Co                                         | CUSIP: 85917PAB3<br>LEI: 549300BRDKZ1HFI2J358 | Long             | DBT              | CORP              | IE        |   1079000 | PA      | $749028.37    | 0.07%             | 2051-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OMNICOM GROUP INC                              | Omnicom Group Inc                                                   | CUSIP: 681919BG0<br>LEI: HKUPACFHSSASQK8HLS17 | Long             | DBT              | CORP              | US        |   1607000 | PA      | $1594813.51   | 0.14%             | 2034-11-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| DOMINION ENERGY INC                            | Dominion Energy Inc                                                 | CUSIP: 25746UDX4<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   1975000 | PA      | $1954846.69   | 0.18%             | 2035-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| BROWN & BROWN INC                              | Brown & Brown Inc                                                   | CUSIP: 115236AG6<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |   1264000 | PA      | $1277048.28   | 0.11%             | 2034-06-11      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CANADIAN NATL RESOURCES                        | Canadian Natural Resources Ltd                                      | CUSIP: 136385BC4<br>LEI: 549300T15RIMIKZC5Q38 | Long             | DBT              | CORP              | CA        |   3956000 | PA      | $3843224.45   | 0.35%             | 2034-12-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| REGIONS FINANCIAL CORP                         | Regions Financial Corp                                              | CUSIP: 7591EPAV2<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |   1900000 | PA      | $1866079.53   | 0.17%             | 2035-09-06      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                         | Motorola Solutions Inc                                              | CUSIP: 620076BT5<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |   1164000 | PA      | $1023005.16   | 0.09%             | 2030-11-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: —       |
| CROWN CASTLE INC                               | Crown Castle Inc                                                    | CUSIP: 22822VAR2<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |   1440000 | PA      | $1331539.56   | 0.12%             | 2030-07-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| TSMC ARIZONA CORP                              | TSMC Arizona Corp                                                   | CUSIP: 872898AE1<br>LEI: 2549005GOBWLCSY63Q97 | Long             | DBT              | CORP              | US        |   2625000 | PA      | $1862744.49   | 0.17%             | 2051-10-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| COREBRIDGE FINANCIAL INC                       | Corebridge Financial Inc                                            | CUSIP: 21871XAP4<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   5225000 | PA      | $5304147.46   | 0.48%             | 2052-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| APPLE INC                                      | Apple Inc                                                           | CUSIP: 037833EA4<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   9327000 | PA      | $5259465.64   | 0.47%             | 2060-08-20      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| SUN COMMUNITIES OPER LP                        | Sun Communities Operating LP                                        | CUSIP: 866677AH0<br>LEI: 549300PUNBPJCGT6X741 | Long             | DBT              |  | US        |   1528000 | PA      | $1428783.93   | 0.13%             | 2032-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| METLIFE INC                                    | MetLife Inc                                                         | CUSIP: 59156RCQ9<br>LEI: C4BXATY60WC6XEOZDX54 | Long             | DBT              | CORP              | US        |   5359000 | PA      | $5390752.08   | 0.49%             | 2055-03-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                         | Verizon Communications Inc                                          | CUSIP: 92343VCV4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1510000 | PA      | $1374842.51   | 0.12%             | 2036-01-15      | Fixed         | 4.27%                 | No            |                  2 | On Loan: No      |
| MICROSOFT CORP                                 | Microsoft Corp                                                      | CUSIP: 594918CF9<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |   8481000 | PA      | $5354502.33   | 0.48%             | 2062-03-17      | Fixed         | 3.04%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                             | Energy Transfer LP                                                  | CUSIP: 29273VAU4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   4738000 | PA      | $5032415.10   | 0.45%             | 2033-12-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| SOUTHWESTERN PUBLIC SERV                       | Southwestern Public Service Co                                      | CUSIP: 845743BX0<br>LEI: OL6FE7QD5EQ3DOYEO258 | Long             | DBT              | CORP              | US        |   1676000 | PA      | $1642205.76   | 0.15%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY INDIANA LLC                        | Duke Energy Indiana LLC                                             | CUSIP: 26443TAD8<br>LEI: 6URPHM2EAWGJ2C6ISB97 | Long             | DBT              | CORP              | US        |   1164000 | PA      | $1073991.23   | 0.10%             | 2053-04-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC                        | Duke Energy Florida LLC                                             | CUSIP: 26444HAR2<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   1322000 | PA      | $1362959.90   | 0.12%             | 2053-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                        | American Electric Power Co Inc                                      | CUSIP: 025537AX9<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   4359000 | PA      | $4462518.75   | 0.40%             | 2033-03-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS LP                       | Host Hotels & Resorts LP                                            | CUSIP: 44107TBC9<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              |  | US        |    378000 | PA      | $363738.74    | 0.03%             | 2035-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| DICK'S SPORTING GOODS                          | Dick's Sporting Goods Inc                                           | CUSIP: 253393AF9<br>LEI: 529900SSBV5I4LWSK313 | Long             | DBT              | CORP              | US        |   4363000 | PA      | $3839389.17   | 0.35%             | 2032-01-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: —       |
| VICI PROPERTIES LP                             | VICI Properties LP                                                  | CUSIP: 925650AD5<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |   5197000 | PA      | $5092467.02   | 0.46%             | 2032-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| HP INC                                         | HP Inc                                                              | CUSIP: 40434LAN5<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |   3065000 | PA      | $3053551.00   | 0.27%             | 2033-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| CIGNA GROUP/THE                                | Cigna Group/The                                                     | CUSIP: 125523AK6<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    226000 | PA      | $191517.55    | 0.02%             | 2048-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| HCA INC                                        | HCA Inc                                                             | CUSIP: 404119BY4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1724000 | PA      | $1581069.04   | 0.14%             | 2039-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                                  | J M Smucker Co/The                                                  | CUSIP: 832696AY4<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    904000 | PA      | $944973.21    | 0.09%             | 2043-11-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                                  | J M Smucker Co/The                                                  | CUSIP: 832696AX6<br>LEI: 5493000WDH6A0LHDJD55 | Long             | DBT              | CORP              | US        |    143000 | PA      | $151811.55    | 0.01%             | 2033-11-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: —       |
| HSBC HOLDINGS PLC                              | HSBC Holdings PLC                                                   | CUSIP: 404280DR7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   3263000 | PA      | $3450686.65   | 0.31%             | 2028-11-03      | Fixed         | 7.39%                 | No            |                  2 | On Loan: —       |
| PPL ELECTRIC UTILITIES                         | PPL Electric Utilities Corp                                         | CUSIP: 69351UBB8<br>LEI: 549300GCZLSGYEYPIR35 | Long             | DBT              | CORP              | US        |   3451000 | PA      | $3209023.40   | 0.29%             | 2053-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE TELEKOM INT FIN                       | Deutsche Telekom International Finance BV                           | CUSIP: 25156PAC7<br>LEI: 529900ERDFHS6C1M4U58 | Long             | DBT              | CORP              | NL        |   4555000 | PA      | $5339272.57   | 0.48%             | 2030-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| TEXTRON INC                                    | Textron Inc                                                         | CUSIP: 883203CB5<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |     55000 | PA      | $50296.21     | 0.00%             | 2030-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| WESTINGHOUSE AIR BRAKE                         | Westinghouse Air Brake Technologies Corp                            | CUSIP: 960386AR1<br>LEI: 06BTX5UWZD0GQ5N5Y745 | Long             | DBT              | CORP              | US        |   1287000 | PA      | $1311903.18   | 0.12%             | 2034-03-11      | Fixed         | 5.61%                 | No            |                  2 | On Loan: —       |
| TYSON FOODS INC                                | Tyson Foods Inc                                                     | CUSIP: 902494BM4<br>LEI: WD6L6041MNRW1JE49D58 | Long             | DBT              | CORP              | US        |   4720000 | PA      | $4810700.94   | 0.43%             | 2034-03-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: —       |
| HCA INC                                        | HCA Inc                                                             | CUSIP: 404119CK3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   5959000 | PA      | $5406694.97   | 0.49%             | 2032-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                       | Willis North America Inc                                            | CUSIP: 970648AM3<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |   3837000 | PA      | $3863971.12   | 0.35%             | 2033-05-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| JACOBS ENGINEERING GROUP                       | Jacobs Engineering Group Inc                                        | CUSIP: 469814AA5<br>LEI: 549300CZ8QS1GE53O776 | Long             | DBT              | CORP              | US        |   1191000 | PA      | $1221992.52   | 0.11%             | 2033-03-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: —       |
| LYB INTL FINANCE BV                            | LYB International Finance BV                                        | CUSIP: 50247VAC3<br>LEI: 549300J6QSW38QNOJK61 | Long             | DBT              | CORP              | NL        |   1843000 | PA      | $1525477.71   | 0.14%             | 2044-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN ELECTRIC POWER                        | American Electric Power Co Inc                                      | CUSIP: 025537AU5<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | DBT              | CORP              | US        |   4196000 | PA      | $4005783.99   | 0.36%             | 2062-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ESSENTIAL UTILITIES INC                        | Essential Utilities Inc                                             | CUSIP: 29670GAH5<br>LEI: 549300ILTEOF3E3QY357 | Long             | DBT              | CORP              | US        |   1265000 | PA      | $1261484.94   | 0.11%             | 2034-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| Sprint Capital Corp                            | Sprint Capital Corp                                                 | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   4414000 | PA      | $5287086.90   | 0.48%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| DARDEN RESTAURANTS INC                         | Darden Restaurants Inc                                              | CUSIP: 237194AN5<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | DBT              | CORP              | US        |   1019000 | PA      | $1079024.63   | 0.10%             | 2033-10-10      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                      | Boeing Co/The                                                       | CUSIP: 097023CD5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    218000 | PA      | $206248.36    | 0.02%             | 2029-03-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: —       |
| Altria Group Inc                               | Altria Group Inc                                                    | CUSIP: 02209SBE2<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |   4039000 | PA      | $3998451.31   | 0.36%             | 2039-02-14      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                         | Marriott International Inc/MD                                       | CUSIP: 571903BF9<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    150000 | PA      | $133955.64    | 0.01%             | 2032-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                        | Public Service Electric and Gas Co                                  | CUSIP: 74456QCL8<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |   1252000 | PA      | $1229837.66   | 0.11%             | 2033-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL SA                               | ArcelorMittal SA                                                    | CUSIP: 03938LBF0<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |   4753000 | PA      | $5143292.69   | 0.46%             | 2032-11-29      | Fixed         | 6.80%                 | No            |                  2 | On Loan: —       |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                    | CUSIP: 87264AAX3<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   2328000 | PA      | $2018688.49   | 0.18%             | 2040-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                         | NXP BV / NXP Funding LLC / NXP USA Inc                              | CUSIP: 62954HAY4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    497000 | PA      | $464226.70    | 0.04%             | 2030-05-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: —       |
| LPL HOLDINGS INC                               | LPL Holdings Inc                                                    | CUSIP: 50212YAH7<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   2023000 | PA      | $2148474.25   | 0.19%             | 2028-11-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                                      | CUSIP: 958667AF4<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1366000 | PA      | $1418252.74   | 0.13%             | 2029-01-15      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| BROADRIDGE FINANCIAL SOL                       | Broadridge Financial Solutions Inc                                  | CUSIP: 11133TAE3<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | DBT              | CORP              | US        |   2936000 | PA      | $2583393.80   | 0.23%             | 2031-05-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| DTE ENERGY CO                                  | DTE Energy Co                                                       | CUSIP: 233331BL0<br>LEI: 549300IX8SD6XXD71I78 | Long             | DBT              | CORP              | US        |   4299000 | PA      | $4430885.67   | 0.40%             | 2034-06-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                            | American Tower Corp                                                 | CUSIP: 03027XBA7<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |   2294000 | PA      | $2118263.15   | 0.19%             | 2030-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: —       |
| Reynolds American Inc                          | Reynolds American Inc                                               | CUSIP: 761713BB1<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |   2952000 | PA      | $2782510.45   | 0.25%             | 2045-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Southern Copper Corp                           | Southern Copper Corp                                                | CUSIP: 84265VAE5<br>LEI: 2549007U6NAP46Q9TU15 | Long             | DBT              | CORP              | US        |   2041000 | PA      | $2163078.33   | 0.19%             | 2040-04-16      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                           | M&T Bank Corp                                                       | CUSIP: 55261FAS3<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |    110000 | PA      | $118721.71    | 0.01%             | 2029-10-30      | Fixed         | 7.41%                 | No            |                  2 | On Loan: No      |
| CORNING INC                                    | Corning Inc                                                         | CUSIP: 219350BQ7<br>LEI: 549300X2937PB0CJ7I56 | Long             | DBT              | CORP              | US        |   1073000 | PA      | $935082.04    | 0.08%             | 2079-11-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                        | GLP Capital LP / GLP Financing II Inc                               | CUSIP: 361841AL3<br>LEI: N/A                  | Long             | DBT              |  | US        |   2564000 | PA      | $2568217.78   | 0.23%             | 2029-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| AstraZeneca PLC                                | AstraZeneca PLC                                                     | CUSIP: 046353AD0<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | DBT              | CORP              | GB        |   3790000 | PA      | $4184314.82   | 0.38%             | 2037-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| LYB INT FINANCE III                            | LYB International Finance III LLC                                   | CUSIP: 50249AAM5<br>LEI: 984500A51LA0B8EB4053 | Long             | DBT              | CORP              | US        |   3958000 | PA      | $3861007.39   | 0.35%             | 2034-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| EXTRA SPACE STORAGE LP                         | Extra Space Storage LP                                              | CUSIP: 30225VAS6<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |   1329000 | PA      | $1321253.99   | 0.12%             | 2034-02-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                                      | CUSIP: 958667AG2<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    180000 | PA      | $172781.99    | 0.02%             | 2034-11-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| NVR INC                                        | NVR Inc                                                             | CUSIP: 62944TAF2<br>LEI: 529900RWXR4JI3JYTV70 | Long             | DBT              | CORP              | US        |   5064000 | PA      | $4671049.05   | 0.42%             | 2030-05-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| STERIS PLC                                     | STERIS Irish FinCo UnLtd Co                                         | CUSIP: 85917PAA5<br>LEI: 549300BRDKZ1HFI2J358 | Long             | DBT              | CORP              | IE        |    902000 | PA      | $800051.97    | 0.07%             | 2031-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| TRIMBLE INC                                    | Trimble Inc                                                         | CUSIP: 896239AE0<br>LEI: 549300E2MI7NSZFQWS19 | Long             | DBT              | CORP              | US        |   4133000 | PA      | $4314442.67   | 0.39%             | 2033-03-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| HP INC                                         | HP Inc                                                              | CUSIP: 40434LAL9<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    652000 | PA      | $609599.13    | 0.05%             | 2032-04-15      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE FINANCIAL INC                       | Corebridge Financial Inc                                            | CUSIP: 21871XAH2<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |   1028000 | PA      | $946248.95    | 0.09%             | 2032-04-05      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| COUSINS PROPERTIES LP                          | Cousins Properties LP                                               | CUSIP: 222793AA9<br>LEI: 254900ZQIHJ5FQH4C329 | Long             | DBT              |  | US        |    883000 | PA      | $891155.57    | 0.08%             | 2034-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                         | Brixmor Operating Partnership LP                                    | CUSIP: 11120VAH6<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              |  | US        |   2519000 | PA      | $2450837.90   | 0.22%             | 2029-05-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                   | Alphabet Inc                                                        | CUSIP: 02079KAG2<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   9079000 | PA      | $4738556.89   | 0.43%             | 2060-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: —       |
| NATIONAL FUEL GAS CO                           | National Fuel Gas Co                                                | CUSIP: 636180BU4<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1152656.68   | 0.10%             | 2035-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                          | Universal Health Services Inc                                       | CUSIP: 913903BA7<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |   1452000 | PA      | $1206881.55   | 0.11%             | 2032-01-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                           | Pilgrim's Pride Corp                                                | CUSIP: 72147KAH1<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   1022000 | PA      | $905159.85    | 0.08%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE COLORADO                        | Public Service Co of Colorado                                       | CUSIP: 744448CZ2<br>LEI: 5BANEF6PGSEK0SNMQF44 | Long             | DBT              | CORP              | US        |    165000 | PA      | $164321.44    | 0.01%             | 2034-05-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                | DTE Electric Co                                                     | CUSIP: 23338VAQ9<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |    535000 | PA      | $479380.37    | 0.04%             | 2032-03-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| SUN COMMUNITIES OPER LP                        | Sun Communities Operating LP                                        | CUSIP: 866677AE7<br>LEI: 549300PUNBPJCGT6X741 | Long             | DBT              |  | US        |   4399000 | PA      | $3832068.58   | 0.34%             | 2031-07-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                | CUSIP: 06051GKW8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   2945000 | PA      | $2963515.63   | 0.27%             | 2028-07-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                       | AerCap Ireland Capital DAC / AerCap Global Aviation Trust           | CUSIP: 00774MAX3<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   6120000 | PA      | $5434303.45   | 0.49%             | 2032-01-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: —       |
| HP Inc                                         | HP Inc                                                              | CUSIP: 428236BR3<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |   1958000 | PA      | $1917132.10   | 0.17%             | 2041-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| BLUE OWL FINANCE LLC                           | Blue Owl Finance LLC                                                | CUSIP: 09581JAR7<br>LEI: 254900OF2NO2GYFV5T41 | Long             | DBT              | CORP              | US        |    344000 | PA      | $300265.76    | 0.03%             | 2031-06-10      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                        | Oncor Electric Delivery Co LLC                                      | CUSIP: 68233JCW2<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |   1810000 | PA      | $1818402.33   | 0.16%             | 2029-11-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES OP                            | Invitation Homes Operating Partnership LP                           | CUSIP: 46188BAA0<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              |  | US        |    911000 | PA      | $762694.67    | 0.07%             | 2031-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                           | M&T Bank Corp                                                       | CUSIP: 55261FAT1<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   4355000 | PA      | $4534990.67   | 0.41%             | 2032-03-13      | Fixed         | 6.08%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES OP                            | Invitation Homes Operating Partnership LP                           | CUSIP: 46188BAG7<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              |  | US        |    998000 | PA      | $949574.82    | 0.09%             | 2035-02-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| UNION ELECTRIC CO                              | Union Electric Co                                                   | CUSIP: 906548CT7<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |    809000 | PA      | $685590.17    | 0.06%             | 2032-03-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                        | Arthur J Gallagher & Co                                             | CUSIP: 04316JAG4<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |    207000 | PA      | $223332.50    | 0.02%             | 2054-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BERRY GLOBAL INC                               | Berry Global Inc                                                    | CUSIP: 08576BAB8<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   1420000 | PA      | $1474009.87   | 0.13%             | 2031-06-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                         | Diamondback Energy Inc                                              | CUSIP: 25278XAV1<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |   5080000 | PA      | $5297905.79   | 0.48%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| AMCOR FINANCE USA INC                          | Amcor Finance USA Inc                                               | CUSIP: 02343UAJ4<br>LEI: 549300ZMT7FVT8R77U18 | Long             | DBT              | CORP              | US        |    654000 | PA      | $667961.79    | 0.06%             | 2033-05-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                            | CDW LLC / CDW Finance Corp                                          | CUSIP: 12513GBL2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    518000 | PA      | $510268.38    | 0.05%             | 2034-08-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| L3HARRIS TECH INC                              | L3Harris Technologies Inc                                           | CUSIP: 502431AQ2<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |   2145000 | PA      | $2173759.22   | 0.20%             | 2033-07-31      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                             | Royalty Pharma PLC                                                  | CUSIP: 78081BAR4<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |   1387000 | PA      | $1381233.12   | 0.12%             | 2034-09-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| CENTERPOINT ENER HOUSTON                       | CenterPoint Energy Houston Electric LLC                             | CUSIP: 15189XAZ1<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |    361000 | PA      | $349443.41    | 0.03%             | 2032-10-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER                        | Laboratory Corp of America Holdings                                 | CUSIP: 50540RAS1<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |    482000 | PA      | $407066.00    | 0.04%             | 2045-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| PHILIP MORRIS INTL INC                         | Philip Morris International Inc                                     | CUSIP: 718172AC3<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |   4024000 | PA      | $4371958.26   | 0.39%             | 2038-05-16      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| ALTRIA GROUP INC                               | Altria Group Inc                                                    | CUSIP: 02209SBR3<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |   1126000 | PA      | $1237223.92   | 0.11%             | 2033-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                    | Oracle Corp                                                         | CUSIP: 68389XCE3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    363000 | PA      | $327257.64    | 0.03%             | 2031-03-25      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ATLASSIAN CORPORATION                          | Atlassian Corp                                                      | CUSIP: 049468AB7<br>LEI: 549300V7ZY5P02D2MY38 | Long             | DBT              | CORP              | US        |   1303000 | PA      | $1314650.59   | 0.12%             | 2034-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| M&T BANK CORPORATION                           | M&T Bank Corp                                                       | CUSIP: 55261FAR5<br>LEI: 549300WYXDDBYRASEG81 | Long             | DBT              | CORP              | US        |   2054000 | PA      | $1990261.44   | 0.18%             | 2034-01-27      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares               | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |  76598054 | NS      | $76628692.92  | 6.90%             |  |  |  | No            |                  1 | On Loan: No      |
| EVERSOURCE ENERGY                              | Eversource Energy                                                   | CUSIP: 30040WBA5<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |    443000 | PA      | $461492.17    | 0.04%             | 2031-04-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                      | ONEOK Inc                                                           | CUSIP: 682680BG7<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1767000 | PA      | $1838124.52   | 0.17%             | 2032-11-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                                      | CUSIP: 958667AC1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   1092000 | PA      | $1038092.85   | 0.09%             | 2030-02-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: No      |
| ROYALTY PHARMA PLC                             | Royalty Pharma PLC                                                  | CUSIP: 78081BAQ6<br>LEI: 549300FGFN7VOK8BZR03 | Long             | DBT              | CORP              | GB        |   1342000 | PA      | $1357060.60   | 0.12%             | 2029-09-02      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| VMWARE LLC                                     | VMware LLC                                                          | CUSIP: 928563AK1<br>LEI: 549300BUDHS3LRWBE814 | Long             | DBT              | CORP              | US        |   4545000 | PA      | $4159330.71   | 0.37%             | 2028-08-15      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                 | Lowe's Cos Inc                                                      | CUSIP: 548661ED5<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   5870000 | PA      | $5387987.47   | 0.49%             | 2028-09-15      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| FOX CORP                                       | Fox Corp                                                            | CUSIP: 35137LAN5<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |   2118000 | PA      | $2268128.25   | 0.20%             | 2033-10-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| US Bancorp                                     | US Bancorp                                                          | CUSIP: 902973AZ9<br>LEI: N1GZ7BBF3NP8GI976H15 | Long             | DBT              | CORP              | US        |   5320000 | PA      | $5274370.36   | 0.47%             | 2027-04-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| CHOICE HOTELS INTL INC                         | Choice Hotels International Inc                                     | CUSIP: 169905AH9<br>LEI: 5493003CYRY5RFGTIR97 | Long             | DBT              | CORP              | US        |   1626000 | PA      | $1602249.10   | 0.14%             | 2034-08-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                            | Sprint Capital Corp                                                 | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |   1038000 | PA      | $1110451.55   | 0.10%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                         | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |   2980000 | PA      | $2631884.71   | 0.24%             | 2033-02-24      | Fixed         | 3.10%                 | No            |                  2 | On Loan: —       |
| AON CORP/AON GLOBAL HOLD                       | Aon Corp / Aon Global Holdings PLC                                  | CUSIP: 03740LAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   3104000 | PA      | $3156723.05   | 0.28%             | 2033-02-28      | Fixed         | 5.35%                 | No            |                  2 | On Loan: —       |
| CENTERPOINT ENER HOUSTON                       | CenterPoint Energy Houston Electric LLC                             | CUSIP: 15189XBG2<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |   1482000 | PA      | $1496456.58   | 0.13%             | 2030-03-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH CO/INBEV                        | Anheuser-Busch Cos LLC / Anheuser-Busch InBev Worldwide Inc         | CUSIP: 03522AAH3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4363000 | PA      | $4193752.29   | 0.38%             | 2036-02-01      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| VERISIGN INC                                   | VeriSign Inc                                                        | CUSIP: 92343EAM4<br>LEI: LMPL4N8ZOJRMF0KOF759 | Long             | DBT              | CORP              | US        |   4521000 | PA      | $3973026.82   | 0.36%             | 2031-06-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                       | Florida Power & Light Co                                            | CUSIP: 341081GL5<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    255000 | PA      | $257403.38    | 0.02%             | 2033-04-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: —       |
| NATIONAL FUEL GAS CO                           | National Fuel Gas Co                                                | CUSIP: 636180BT7<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |   1145000 | PA      | $1167280.14   | 0.11%             | 2030-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| TEXTRON INC                                    | Textron Inc                                                         | CUSIP: 883203CE9<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |   1437000 | PA      | $1430394.34   | 0.13%             | 2035-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                    | Oracle Corp                                                         | CUSIP: 68389XCJ2<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   3287000 | PA      | $3509311.41   | 0.32%             | 2032-11-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| XCEL ENERGY INC                                | Xcel Energy Inc                                                     | CUSIP: 98389BBA7<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | DBT              | CORP              | US        |   2087000 | PA      | $2092350.53   | 0.19%             | 2033-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                             | VICI Properties LP                                                  | CUSIP: 925650AF0<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |    166000 | PA      | $166566.39    | 0.01%             | 2034-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| TRUIST FINANCIAL CORP                          | Truist Financial Corp                                               | CUSIP: 89788MAP7<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   1548000 | PA      | $1585894.02   | 0.14%             | 2034-06-08      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| HCA INC                                        | HCA Inc                                                             | CUSIP: 404119BX6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   3405000 | PA      | $3315443.29   | 0.30%             | 2029-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| EAGLE MATERIALS                                | Eagle Materials Inc                                                 | CUSIP: 26969PAB4<br>LEI: 529900KRXRGXL61SG039 | Long             | DBT              | CORP              | US        |   4555000 | PA      | $3964237.41   | 0.36%             | 2031-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                        | Public Service Electric and Gas Co                                  | CUSIP: 74456QCN4<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |    600000 | PA      | $607223.18    | 0.05%             | 2033-08-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| WILLIS NORTH AMERICA INC                       | Willis North America Inc                                            | CUSIP: 970648AN1<br>LEI: 5493004KVU1HWZCP0C66 | Long             | DBT              | CORP              | US        |   2079000 | PA      | $2005030.68   | 0.18%             | 2054-03-05      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                   | Comcast Corp                                                        | CUSIP: 20030NDM0<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |   1419000 | PA      | $1228158.21   | 0.11%             | 2031-01-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: —       |
| AMEREN CORP                                    | Ameren Corp                                                         | CUSIP: 023608AR3<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | DBT              | CORP              | US        |    180000 | PA      | $178130.97    | 0.02%             | 2035-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                         | Verizon Communications Inc                                          | CUSIP: 92343VCQ5<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |   1353000 | PA      | $1267101.87   | 0.11%             | 2034-11-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                       | British Telecommunications PLC                                      | CUSIP: 111021AE1<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |   4301000 | PA      | $5246192.75   | 0.47%             | 2030-12-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| AERCAP IRELAND CAP/GLOBA                       | AerCap Ireland Capital DAC / AerCap Global Aviation Trust           | CUSIP: 00774MBK0<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |   3662000 | PA      | $3756137.50   | 0.34%             | 2055-03-10      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| AMCOR FLEXIBLES NORTH AM                       | Amcor Flexibles North America Inc                                   | CUSIP: 02344AAA6<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |   4709000 | PA      | $4155108.02   | 0.37%             | 2031-05-25      | Fixed         | 2.69%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                | CUSIP: 06055HAB9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5224000 | PA      | $5260024.70   | 0.47%             | 2027-04-27      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HEALTHCARE RLTY HLDGS LP                       | Healthcare Realty Holdings LP                                       | CUSIP: 42225UAH7<br>LEI: 549300IYGAS4GE6VDL07 | Long             | DBT              |  | US        |   4997000 | PA      | $4200130.61   | 0.38%             | 2031-03-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| FLOWERS FOODS INC                              | Flowers Foods Inc                                                   | CUSIP: 343498AD3<br>LEI: 7YNCQQNDK8FBM9BBTK25 | Long             | DBT              | CORP              | US        |   1322000 | PA      | $1332951.26   | 0.12%             | 2035-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| CHENIERE ENERGY PARTNERS                       | Cheniere Energy Partners LP                                         | CUSIP: 16411QAN1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    579000 | PA      | $508022.20    | 0.05%             | 2032-01-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BLUE OWL FINANCE LLC                           | Blue Owl Finance LLC                                                | CUSIP: 09581JAT3<br>LEI: 254900OF2NO2GYFV5T41 | Long             | DBT              | CORP              | US        |   5224000 | PA      | $5295810.25   | 0.48%             | 2034-04-18      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                            | FS KKR Capital Corp                                                 | CUSIP: 302635AP2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |    267000 | PA      | $262902.43    | 0.02%             | 2030-01-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                            | CDW LLC / CDW Finance Corp                                          | CUSIP: 12513GBH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    618000 | PA      | $584180.69    | 0.05%             | 2028-12-01      | Fixed         | 3.28%                 | No            |                  2 | On Loan: No      |
| CRH AMERICA FINANCE INC                        | CRH America Finance Inc                                             | CUSIP: 12636YAE2<br>LEI: 549300WEVUODRJ4CWK56 | Long             | DBT              | CORP              | US        |   4080000 | PA      | $4117679.29   | 0.37%             | 2034-05-21      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| RADIAN GROUP INC                               | Radian Group Inc                                                    | CUSIP: 750236AY7<br>LEI: 54930005OUP720S5U385 | Long             | DBT              | CORP              | US        |   1384000 | PA      | $1424775.49   | 0.13%             | 2029-05-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| LABORATORY CORP OF AMER                        | Laboratory Corp of America Holdings                                 | CUSIP: 50540RBB7<br>LEI: OZ7UA8IXAIFILY2VZH07 | Long             | DBT              | CORP              | US        |   4630000 | PA      | $4445574.04   | 0.40%             | 2034-10-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                  | Boeing Co/The                                                       | CUSIP: 097023DS1<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |    968000 | PA      | $1033215.95   | 0.09%             | 2034-05-01      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| CARLISLE COS INC                               | Carlisle Cos Inc                                                    | CUSIP: 142339AJ9<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | DBT              | CORP              | US        |   3034000 | PA      | $2784867.97   | 0.25%             | 2030-03-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| Prudential Financial Inc                       | Prudential Financial Inc                                            | CUSIP: 744320BF8<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   5340000 | PA      | $5343104.04   | 0.48%             | 2048-09-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                   | AutoZone Inc                                                        | CUSIP: 053332BK7<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | DBT              | CORP              | US        |   1878000 | PA      | $1892398.83   | 0.17%             | 2034-07-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| ELEVANCE HEALTH INC                            | Elevance Health Inc                                                 | CUSIP: 94973VBB2<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |   1129000 | PA      | $965675.70    | 0.09%             | 2043-01-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| VISA INC                                       | Visa Inc                                                            | CUSIP: 92826CAQ5<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | DBT              | CORP              | US        |   9882000 | PA      | $5270551.16   | 0.47%             | 2050-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                      | IQVIA Inc                                                           | CUSIP: 46266TAC2<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   1655000 | PA      | $1680710.43   | 0.15%             | 2028-05-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| HOST HOTELS & RESORTS LP                       | Host Hotels & Resorts LP                                            | CUSIP: 44107TAZ9<br>LEI: FXB7X4WXVA8QPMNOGS12 | Long             | DBT              |  | US        |   4299000 | PA      | $3915941.69   | 0.35%             | 2030-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                   | Alphabet Inc                                                        | CUSIP: 02079KAF4<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |   2610000 | PA      | $1419351.15   | 0.13%             | 2050-08-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: —       |
| CIGNA GROUP/THE                                | Cigna Group/The                                                     | CUSIP: 125523AJ9<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |   5687000 | PA      | $5200737.27   | 0.47%             | 2038-08-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                              | HSBC Holdings PLC                                                   | CUSIP: 404280CC1<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   5416000 | PA      | $5222516.76   | 0.47%             | 2030-05-22      | Fixed         | 3.97%                 | No            |                  2 | On Loan: —       |
| EVERSOURCE ENERGY                              | Eversource Energy                                                   | CUSIP: 30040WAX6<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |   1466000 | PA      | $1462270.61   | 0.13%             | 2034-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                                      | CUSIP: 958667AE7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   3893000 | PA      | $3976376.03   | 0.36%             | 2033-04-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| WALT DISNEY COMPANY/THE                        | Walt Disney Co/The                                                  | CUSIP: 254687EH5<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |    790000 | PA      | $890019.99    | 0.08%             | 2037-11-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                            | General Electric Co                                                 | CUSIP: 36962GXZ2<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    724000 | PA      | $808126.33    | 0.07%             | 2032-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                       | Anheuser-Busch InBev Worldwide Inc                                  | CUSIP: 03523TBU1<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |    342000 | PA      | $342903.59    | 0.03%             | 2039-01-23      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AMEREN ILLINOIS CO                             | Ameren Illinois Co                                                  | CUSIP: 02361DBA7<br>LEI: RC71E2BZ6UOMFPDJSE79 | Long             | DBT              | CORP              | US        |    323000 | PA      | $322084.12    | 0.03%             | 2033-06-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                    | Citibank NA                                                         | CUSIP: 17325FBJ6<br>LEI: E57ODZWZ7FF32TWEFA76 | Long             | DBT              | CORP              | US        |   4899000 | PA      | $4926588.91   | 0.44%             | 2026-08-06      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| BOARDWALK PIPELINES LP                         | Boardwalk Pipelines LP                                              | CUSIP: 096630AJ7<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |    250000 | PA      | $221872.13    | 0.02%             | 2032-09-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| REGIONS FINANCIAL CORP                         | Regions Financial Corp                                              | CUSIP: 7591EPAU4<br>LEI: CW05CS5KW59QTC0DG824 | Long             | DBT              | CORP              | US        |   3879000 | PA      | $3967083.21   | 0.36%             | 2030-06-06      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| ANHEUSER-BUSCH INBEV WOR                       | Anheuser-Busch InBev Worldwide Inc                                  | CUSIP: 03523TBF4<br>LEI: 549300CRGMZK3K53BF92 | Long             | DBT              | CORP              | US        |   1606000 | PA      | $2019029.60   | 0.18%             | 2039-01-15      | Fixed         | 8.20%                 | No            |                  2 | On Loan: No      |
| SMITH & NEPHEW PLC                             | Smith & Nephew PLC                                                  | CUSIP: 83192PAA6<br>LEI: 213800ZTMDN8S67S1H61 | Long             | DBT              | CORP              | GB        |   6352000 | PA      | $5511379.94   | 0.50%             | 2030-10-14      | Fixed         | 2.03%                 | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | BlackRock Cash Funds: Treasury, SL Agency Shares                    | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   8560000 | NS      | $8560000.00   | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| PUBLIC SERVICE COLORADO                        | Public Service Co of Colorado                                       | CUSIP: 744448DA6<br>LEI: 5BANEF6PGSEK0SNMQF44 | Long             | DBT              | CORP              | US        |   1502000 | PA      | $1433516.79   | 0.13%             | 2054-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                         | Pacific Gas and Electric Co                                         | CUSIP: 694308KL0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   4250000 | PA      | $4390842.49   | 0.40%             | 2029-01-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| ENTERGY LOUISIANA LLC                          | Entergy Louisiana LLC                                               | CUSIP: 29364WBM9<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |   1085000 | PA      | $1088549.21   | 0.10%             | 2034-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Gilead Sciences Inc                            | Gilead Sciences Inc                                                 | CUSIP: 375558AS2<br>LEI: 549300WTZWR07K8MNV44 | Long             | DBT              | CORP              | US        |   1981000 | PA      | $1968960.41   | 0.18%             | 2041-12-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| JACOBS ENGINEERING GROUP                       | Jacobs Engineering Group Inc                                        | CUSIP: 469814AB3<br>LEI: 549300CZ8QS1GE53O776 | Long             | DBT              | CORP              | US        |   1232000 | PA      | $1287041.28   | 0.12%             | 2028-08-18      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| PECO ENERGY CO                                 | PECO Energy Co                                                      | CUSIP: 693304BG1<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |   1413000 | PA      | $1300786.73   | 0.12%             | 2054-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                      | IQVIA Inc                                                           | CUSIP: 46266TAF5<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   3749000 | PA      | $3884286.41   | 0.35%             | 2029-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                         | Motorola Solutions Inc                                              | CUSIP: 620076BZ1<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |   2854000 | PA      | $2868427.77   | 0.26%             | 2034-04-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| COREBRIDGE FINANCIAL INC                       | Corebridge Financial Inc                                            | CUSIP: 21871XAS8<br>LEI: 549300XY1661QCIA7J65 | Long             | DBT              | CORP              | US        |    406000 | PA      | $413546.22    | 0.04%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| NATIONAL GRID PLC                              | National Grid PLC                                                   | CUSIP: 636274AE2<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | DBT              | CORP              | GB        |   4100000 | PA      | $4232736.31   | 0.38%             | 2033-06-12      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                       | AT&T Inc                                                            | CUSIP: 00206RMT6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |    887000 | PA      | $899055.48    | 0.08%             | 2034-02-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL FINANCIAL                        | Fidelity National Financial Inc                                     | CUSIP: 31620RAK1<br>LEI: 549300CAZYIH39SYQ287 | Long             | DBT              | CORP              | US        |    694000 | PA      | $594205.97    | 0.05%             | 2031-03-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                            | FS KKR Capital Corp                                                 | CUSIP: 302635AN7<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |   1595000 | PA      | $1622186.44   | 0.15%             | 2029-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| BERRY GLOBAL INC                               | Berry Global Inc                                                    | CUSIP: 08576PAQ4<br>LEI: 549300AP2Q7ERHX6RI89 | Long             | DBT              | CORP              | US        |   4260000 | PA      | $4291158.02   | 0.39%             | 2034-01-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: —       |
| CONSUMERS ENERGY CO                            | Consumers Energy Co                                                 | CUSIP: 210518DX1<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |   1965000 | PA      | $1980781.35   | 0.18%             | 2030-01-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| Freeport-McMoRan Inc                           | Freeport-McMoRan Inc                                                | CUSIP: 35671DBC8<br>LEI: 549300IRDTHJQ1PVET45 | Long             | DBT              | CORP              | US        |   2344000 | PA      | $2164475.15   | 0.19%             | 2043-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                    | CUSIP: 87264ACB9<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   3043000 | PA      | $2695257.52   | 0.24%             | 2031-02-15      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                        | Goldman Sachs Group Inc/The                                         | CUSIP: 38141GA53<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |    720000 | PA      | $784049.85    | 0.07%             | 2034-10-24      | Fixed         | 6.56%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                        | Public Service Electric and Gas Co                                  | CUSIP: 74456QCV6<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |     90000 | PA      | $86366.89     | 0.01%             | 2055-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ENACT HOLDINGS INC                             | Enact Holdings Inc                                                  | CUSIP: 29249EAA7<br>LEI: 9845003CA5664B741N19 | Long             | DBT              | CORP              | US        |   3906000 | PA      | $4010393.24   | 0.36%             | 2029-05-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ENTERPRISE PRODUCTS OPER                       | Enterprise Products Operating LLC                                   | CUSIP: 29379VBN2<br>LEI: 5493004LGN656HWLDA30 | Long             | DBT              | CORP              | US        |   5511000 | PA      | $5422638.83   | 0.49%             | 2077-08-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                       | Capital One Financial Corp                                          | CUSIP: 14040HCZ6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   4271000 | PA      | $4448197.68   | 0.40%             | 2029-06-08      | Fixed         | 6.31%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                              | HSBC Holdings PLC                                                   | CUSIP: 404280CK3<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    220000 | PA      | $192830.83    | 0.02%             | 2031-08-18      | Fixed         | 2.36%                 | No            |                  2 | On Loan: No      |
| KEYSIGHT TECHNOLOGIES                          | Keysight Technologies Inc                                           | CUSIP: 49338LAG8<br>LEI: 549300GLKVIO8YRCYN02 | Long             | DBT              | CORP              | US        |   1696000 | PA      | $1653624.74   | 0.15%             | 2034-10-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: —       |
| BIOGEN INC                                     | Biogen Inc                                                          | CUSIP: 09062XAH6<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | DBT              | CORP              | US        |   6113000 | PA      | $5422242.31   | 0.49%             | 2030-05-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: —       |
| NATIONAL GRID PLC                              | National Grid PLC                                                   | CUSIP: 636274AF9<br>LEI: 8R95QZMKZLJX5Q2XR704 | Long             | DBT              | CORP              | GB        |   1639000 | PA      | $1651762.97   | 0.15%             | 2034-01-11      | Fixed         | 5.42%                 | No            |                  2 | On Loan: —       |
| GOLUB CAPITAL BDC                              | Golub Capital BDC Inc                                               | CUSIP: 38173MAE2<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |   3917000 | PA      | $3962677.86   | 0.36%             | 2029-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC                             | Steel Dynamics Inc                                                  | CUSIP: 858119BQ2<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |   1375000 | PA      | $1373970.65   | 0.12%             | 2034-08-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                              | Kinder Morgan Inc                                                   | CUSIP: 49456BAG6<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   1014000 | PA      | $991574.22    | 0.09%             | 2034-12-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                      | ONEOK Inc                                                           | CUSIP: 682680BL6<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   3985000 | PA      | $4088697.31   | 0.37%             | 2033-09-01      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                       | Duke Energy Progress LLC                                            | CUSIP: 26442UAU8<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    990000 | PA      | $976953.03    | 0.09%             | 2035-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Entergy Louisiana LLC                          | Entergy Louisiana LLC                                               | CUSIP: 29364WBA5<br>LEI: 0V5453U14HDZO63CGH17 | Long             | DBT              | CORP              | US        |   1966000 | PA      | $1825002.63   | 0.16%             | 2033-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UNION PACIFIC CORP                             | Union Pacific Corp                                                  | CUSIP: 907818FS2<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | DBT              | CORP              | US        |   7076000 | PA      | $4684509.77   | 0.42%             | 2071-04-06      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS                         | Zimmer Biomet Holdings Inc                                          | CUSIP: 98956PAV4<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |   2891000 | PA      | $2522919.41   | 0.23%             | 2031-11-24      | Fixed         | 2.60%                 | No            |                  2 | On Loan: —       |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                | CUSIP: 060505GB4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    554000 | PA      | $536542.74    | 0.05%             | 2027-01-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| DUKE ENERGY PROGRESS LLC                       | Duke Energy Progress LLC                                            | CUSIP: 26442UAN4<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    633000 | PA      | $578872.77    | 0.05%             | 2032-04-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                      | Boeing Co/The                                                       | CUSIP: 097023CJ2<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   3405000 | PA      | $2945183.79   | 0.27%             | 2034-05-01      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| LPL HOLDINGS INC                               | LPL Holdings Inc                                                    | CUSIP: 50212YAK0<br>LEI: 549300Z5YF8CCRMYUL26 | Long             | DBT              | CORP              | US        |   2016000 | PA      | $2047525.50   | 0.18%             | 2034-05-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                       | Cheniere Energy Partners LP                                         | CUSIP: 16411QAQ4<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    345000 | PA      | $353002.49    | 0.03%             | 2033-06-30      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC                            | Cardinal Health Inc                                                 | CUSIP: 14149YBS6<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |   5015000 | PA      | $5004509.12   | 0.45%             | 2034-11-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                  | Boeing Co/The                                                       | CUSIP: 097023DR3<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   1022000 | PA      | $1090447.99   | 0.10%             | 2031-05-01      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| NATIONAL FUEL GAS CO                           | National Fuel Gas Co                                                | CUSIP: 636180BR1<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | DBT              | CORP              | US        |    691000 | PA      | $610272.86    | 0.05%             | 2031-03-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| CGI INC                                        | CGI Inc                                                             | CUSIP: 12532HAK0<br>LEI: 549300WSRCZY73ZG3090 | Long             | DBT              | CORP              | CA        |   1851000 | PA      | $1850843.79   | 0.17%             | 2030-03-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                          | Universal Health Services Inc                                       | CUSIP: 913903BB5<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |    868000 | PA      | $850639.26    | 0.08%             | 2029-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE OKLAHOMA                        | Public Service Co of Oklahoma                                       | CUSIP: 000000000<br>LEI: F3TJNSIZRGXRH8GEIK79 | Long             | DBT              | CORP              | US        |   1647000 | PA      | $1609594.55   | 0.14%             | 2035-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                          | Duke Energy Carolinas LLC                                           | CUSIP: 26442CBJ2<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    784000 | PA      | $784494.65    | 0.07%             | 2033-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: —       |
| BOARDWALK PIPELINES LP                         | Boardwalk Pipelines LP                                              | CUSIP: 096630AH1<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |    150000 | PA      | $137052.63    | 0.01%             | 2031-02-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| AMCOR GROUP FINANCE                            | Amcor Group Finance PLC                                             | CUSIP: 02344BAA4<br>LEI: 2549008XHB8M1L64J275 | Long             | DBT              | CORP              | GB        |    682000 | PA      | $695739.15    | 0.06%             | 2029-05-23      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Altria Group Inc                               | Altria Group Inc                                                    | CUSIP: 02209SAR4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |   2574000 | PA      | $2368436.19   | 0.21%             | 2044-01-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| UNION ELECTRIC CO                              | Union Electric Co                                                   | CUSIP: 906548CY6<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |   1118000 | PA      | $1117579.98   | 0.10%             | 2034-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SYSCO CORPORATION                              | Sysco Corp                                                          | CUSIP: 871829BN6<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | DBT              | CORP              | US        |   2389000 | PA      | $2524373.64   | 0.23%             | 2050-04-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| Emera US Finance LP                            | Emera US Finance LP                                                 | CUSIP: 29103DAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4160000 | PA      | $3357156.65   | 0.30%             | 2046-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                    | CUSIP: 87264ACQ6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    716000 | PA      | $622238.28    | 0.06%             | 2032-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                          | American Homes 4 Rent LP                                            | CUSIP: 02666TAH0<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              |  | US        |   1329000 | PA      | $1323537.21   | 0.12%             | 2034-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MARKEL GROUP INC                               | Markel Group Inc                                                    | CUSIP: 570535AY0<br>LEI: 549300SCNO12JLWIK605 | Long             | DBT              | CORP              | US        |   1470000 | PA      | $1431283.79   | 0.13%             | 2054-05-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                        | MPLX LP                                                             | CUSIP: 55336VBQ2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    568000 | PA      | $508259.23    | 0.05%             | 2030-08-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| TRUIST FINANCIAL CORP                          | Truist Financial Corp                                               | CUSIP: 89788MAN2<br>LEI: 549300DRQQI75D2JP341 | Long             | DBT              | CORP              | US        |   2190000 | PA      | $2218273.23   | 0.20%             | 2027-06-08      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| NNN REIT INC                                   | NNN REIT Inc                                                        | CUSIP: 637417AT3<br>LEI: 5493008JKH5SOTI0JS97 | Long             | DBT              |  | US        |    835000 | PA      | $835999.23    | 0.08%             | 2034-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FOX CORP                                       | Fox Corp                                                            | CUSIP: 35137LAJ4<br>LEI: 549300DDU6FDRBIELS05 | Long             | DBT              | CORP              | US        |   4404000 | PA      | $4216262.54   | 0.38%             | 2039-01-25      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                           | Bank of America Corp                                                | CUSIP: 06051GHV4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |   5658000 | PA      | $5330172.09   | 0.48%             | 2030-07-23      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| KENTUCKY UTILITIES CO                          | Kentucky Utilities Co                                               | CUSIP: 491674BM8<br>LEI: AGX0G2MXE54NFNNICD28 | Long             | DBT              | CORP              | US        |    940000 | PA      | $618912.21    | 0.06%             | 2050-06-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CARDINAL HEALTH INC                            | Cardinal Health Inc                                                 | CUSIP: 14149YBP2<br>LEI: CCU46N3GJMF4OK4N7U60 | Long             | DBT              | CORP              | US        |   1378000 | PA      | $1391416.41   | 0.13%             | 2034-02-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| RTX CORP                                       | RTX Corp                                                            | CUSIP: 75513ECA7<br>LEI: I07WOS4YJ0N7YRFE7309 | Long             | DBT              | CORP              | US        |    726000 | PA      | $667891.51    | 0.06%             | 2040-10-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM LLC                           | ONEOK Inc                                                           | CUSIP: 29336TAE0<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |   1170000 | PA      | $1162140.17   | 0.10%             | 2034-09-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| HEICO CORP                                     | HEICO Corp                                                          | CUSIP: 422806AB5<br>LEI: 529900O1DTDLCJ7L0I14 | Long             | DBT              | CORP              | US        |   1184000 | PA      | $1195271.30   | 0.11%             | 2033-08-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Enbridge Inc                                   | Enbridge Inc                                                        | CUSIP: 29250NAS4<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   5485000 | PA      | $5347546.45   | 0.48%             | 2077-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| QUANTA SERVICES INC                            | Quanta Services Inc                                                 | CUSIP: 74762EAL6<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |   1789000 | PA      | $1772706.59   | 0.16%             | 2034-08-09      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARTHUR J GALLAGHER & CO                        | Arthur J Gallagher & Co                                             | CUSIP: 04316JAH2<br>LEI: 54930049QLLMPART6V29 | Long             | DBT              | CORP              | US        |   1180000 | PA      | $1192609.76   | 0.11%             | 2034-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                    | CUSIP: 95000U2U6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    708000 | PA      | $635021.97    | 0.06%             | 2033-03-02      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                              | Eversource Energy                                                   | CUSIP: 30040WAU2<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |   4455000 | PA      | $4375182.75   | 0.39%             | 2033-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| FIFTH THIRD BANCORP                            | Fifth Third Bancorp                                                 | CUSIP: 316773DL1<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   5134000 | PA      | $5271704.25   | 0.47%             | 2032-01-29      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| VENTAS REALTY LP                               | Ventas Realty LP                                                    | CUSIP: 92277GAX5<br>LEI: 32SXKSJ72K64GM3HOU64 | Long             | DBT              |  | US        |   1277000 | PA      | $1291587.81   | 0.12%             | 2034-07-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| TPG OPERATING GROUP II                         | TPG Operating Group II LP                                           | CUSIP: 872652AA0<br>LEI: 2549001H9RJQNZT7MU11 | Long             | DBT              | CORP              | US        |   1495000 | PA      | $1510998.16   | 0.14%             | 2034-03-05      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BROWN & BROWN INC                              | Brown & Brown Inc                                                   | CUSIP: 115236AE1<br>LEI: 549300PC8KTJ71XKFY89 | Long             | DBT              | CORP              | US        |    872000 | PA      | $815132.96    | 0.07%             | 2032-03-17      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| SABRA HEALTH CARE LP                           | Sabra Health Care LP                                                | CUSIP: 78574MAA1<br>LEI: 549300OVKLRFSIQG0H81 | Long             | DBT              |  | US        |   4844000 | PA      | $4218848.04   | 0.38%             | 2031-12-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| EMERSON ELECTRIC CO                            | Emerson Electric Co                                                 | CUSIP: 291011BQ6<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | DBT              | CORP              | US        |    210000 | PA      | $194383.76    | 0.02%             | 2028-12-21      | Fixed         | 2.00%                 | No            |                  2 | On Loan: —       |
| ARES CAPITAL CORP                              | Ares Capital Corp                                                   | CUSIP: 04010LBG7<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   1468000 | PA      | $1494168.04   | 0.13%             | 2029-07-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Transcanada Trust                              | Transcanada Trust                                                   | CUSIP: 89356BAB4<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   2198000 | PA      | $2182547.40   | 0.20%             | 2076-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE INC                                   | Enbridge Inc                                                        | CUSIP: 29250NBC8<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | DBT              | CORP              | CA        |   2029000 | PA      | $1960188.84   | 0.18%             | 2080-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DICK'S SPORTING GOODS                          | Dick's Sporting Goods Inc                                           | CUSIP: 253393AG7<br>LEI: 529900SSBV5I4LWSK313 | Long             | DBT              | CORP              | US        |   2149000 | PA      | $1473233.93   | 0.13%             | 2052-01-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                        | Blackstone Secured Lending Fund                                     | CUSIP: 09261XAK8<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |    790000 | PA      | $776112.61    | 0.07%             | 2030-06-30      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| Conagra Brands Inc                             | Conagra Brands Inc                                                  | CUSIP: 205887CD2<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |   5562000 | PA      | $5212123.06   | 0.47%             | 2038-11-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                              | Johnson & Johnson                                                   | CUSIP: 478160CS1<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |   7240000 | PA      | $4130501.02   | 0.37%             | 2050-09-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: —       |
| PUBLIC SERVICE COLORADO                        | Public Service Co of Colorado                                       | CUSIP: 744448CV1<br>LEI: 5BANEF6PGSEK0SNMQF44 | Long             | DBT              | CORP              | US        |   4022000 | PA      | $3405394.74   | 0.31%             | 2031-06-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                 | CUSIP: 46647PDG8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   1260000 | PA      | $1266375.20   | 0.11%             | 2028-07-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                 | CUSIP: 46647PCR5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   6162000 | PA      | $5339832.32   | 0.48%             | 2032-11-08      | Fixed         | 2.55%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                               | Coca-Cola Co/The                                                    | CUSIP: 191216DD9<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |   3740000 | PA      | $3453998.98   | 0.31%             | 2028-03-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: —       |
| AERCAP IRELAND CAP/GLOBA                       | AerCap Ireland Capital DAC / AerCap Global Aviation Trust           | CUSIP: 00774MBP9<br>LEI: N/A                  | Long             | DBT              | CORP              | IE        |    395000 | PA      | $398167.57    | 0.04%             | 2031-12-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY INC                         | CenterPoint Energy Inc                                              | CUSIP: 15189TBG1<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | DBT              | CORP              | US        |   1815000 | PA      | $1865750.38   | 0.17%             | 2029-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| WALMART INC                                    | Walmart Inc                                                         | CUSIP: 931142ES8<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |   5840000 | PA      | $5383587.59   | 0.48%             | 2028-09-22      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                    | Southern Co/The                                                     | CUSIP: 842587DJ3<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |   5466000 | PA      | $5341911.41   | 0.48%             | 2051-09-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                         | Fairfax Financial Holdings Ltd                                      | CUSIP: 303901BL5<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |   3814000 | PA      | $3874877.62   | 0.35%             | 2032-08-16      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| CENTENE CORP                                   | Centene Corp                                                        | CUSIP: 15135BAV3<br>LEI: 549300Z7JJ4TQSQGT333 | Long             | DBT              | CORP              | US        |   2555000 | PA      | $2328626.23   | 0.21%             | 2030-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                    | Oracle Corp                                                         | CUSIP: 68389XBV6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   1591000 | PA      | $1473356.29   | 0.13%             | 2030-04-01      | Fixed         | 2.95%                 | No            |                  2 | On Loan: —       |
| ELI LILLY & CO                                 | Eli Lilly & Co                                                      | CUSIP: 532457BY3<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   8469000 | PA      | $4686905.85   | 0.42%             | 2050-05-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: —       |
| HSBC HOLDINGS PLC                              | HSBC Holdings PLC                                                   | CUSIP: 404280DH9<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   1054000 | PA      | $1063245.21   | 0.10%             | 2033-08-11      | Fixed         | 5.40%                 | No            |                  2 | On Loan: —       |
| EQUINIX EU 2 FINANCING C                       | Equinix Europe 2 Financing Corp LLC                                 | CUSIP: 29390XAA2<br>LEI: 254900FSZR46BPMCKI50 | Long             | DBT              |  | US        |   3895000 | PA      | $3951430.21   | 0.36%             | 2034-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                        | Public Service Electric and Gas Co                                  | CUSIP: 74456QCS3<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |   1581000 | PA      | $1556284.16   | 0.14%             | 2034-08-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                               | Crown Castle Inc                                                    | CUSIP: 22822VBC4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |   3980000 | PA      | $3899997.03   | 0.35%             | 2033-05-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BOARDWALK PIPELINES LP                         | Boardwalk Pipelines LP                                              | CUSIP: 096630AK4<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |   1589000 | PA      | $1576097.64   | 0.14%             | 2034-08-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                          | Duke Energy Carolinas LLC                                           | CUSIP: 26442CAZ7<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |   3919000 | PA      | $2565328.18   | 0.23%             | 2049-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                    | Oracle Corp                                                         | CUSIP: 68389XBE4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |    866000 | PA      | $767654.11    | 0.07%             | 2035-05-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                       | Sabine Pass Liquefaction LLC                                        | CUSIP: 785592AX4<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |   5398000 | PA      | $5318362.33   | 0.48%             | 2030-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                 | CUSIP: 48128BAN1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   5488000 | PA      | $5351940.52   | 0.48%             | 2026-06-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: —       |
| APPLE INC                                      | Apple Inc                                                           | CUSIP: 037833EL0<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | DBT              | CORP              | US        |   2110000 | PA      | $1234860.45   | 0.11%             | 2061-08-05      | Fixed         | 2.85%                 | No            |                  2 | On Loan: —       |
| VERIZON COMMUNICATIONS                         | Verizon Communications Inc                                          | CUSIP: 92343VDU5<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |    675000 | PA      | $662084.64    | 0.06%             | 2037-03-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FEDEX CORP                                     | FedEx Corp                                                          | CUSIP: 31428XCN4<br>LEI: 549300E707U7WNPZN687 | Long             | DBT              | CORP              | US        |    790000 | PA      | $545212.61    | 0.05%             | 2041-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                            | Charles Schwab Corp/The                                             | CUSIP: 808513BK0<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   5515000 | PA      | $5450183.25   | 0.49%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BLACKSTONE SECURED LEND                        | Blackstone Secured Lending Fund                                     | CUSIP: 09261XAJ1<br>LEI: 549300KM7KWQHVBNH962 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1923978.45   | 0.17%             | 2028-04-13      | Fixed         | 5.35%                 | No            |                  2 | On Loan: —       |
| CBRE SERVICES INC                              | CBRE Services Inc                                                   | CUSIP: 12505BAG5<br>LEI: 549300CTE3HOMEUMM603 | Long             | DBT              | CORP              | US        |   5089000 | PA      | $5259678.60   | 0.47%             | 2034-08-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                    | CUSIP: 95000U3H4<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |    471000 | PA      | $505166.79    | 0.05%             | 2034-10-23      | Fixed         | 6.49%                 | No            |                  2 | On Loan: No      |
| LKQ CORP                                       | LKQ Corp                                                            | CUSIP: 501889AD1<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | DBT              | CORP              | US        |   4085000 | PA      | $4191464.29   | 0.38%             | 2028-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                               | BAT Capital Corp                                                    | CUSIP: 054989AA6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |    429000 | PA      | $457516.35    | 0.04%             | 2030-08-02      | Fixed         | 6.34%                 | No            |                  2 | On Loan: —       |
| DOMINION ENERGY INC                            | Dominion Energy Inc                                                 | CUSIP: 25746UDM8<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   5315000 | PA      | $5193960.44   | 0.47%             | 2027-01-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: —       |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                    | CUSIP: 95000U3B7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   1135000 | PA      | $1115519.82   | 0.10%             | 2033-07-25      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| PUB SVC NEW HAMP                               | Public Service Co of New Hampshire                                  | CUSIP: 744538AF6<br>LEI: 549300SHPFALUPKK2351 | Long             | DBT              | CORP              | US        |    118000 | PA      | $119999.03    | 0.01%             | 2033-10-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| ENTERGY CORP                                   | Entergy Corp                                                        | CUSIP: 29364GAQ6<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | DBT              | CORP              | US        |   5364000 | PA      | $5484057.05   | 0.49%             | 2054-12-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                       | Cheniere Energy Partners LP                                         | CUSIP: 16411QAS0<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |    298000 | PA      | $299062.68    | 0.03%             | 2034-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WELLTOWER OP LLC                               | Welltower OP LLC                                                    | CUSIP: 95040QAJ3<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |   2824000 | PA      | $2651604.26   | 0.24%             | 2030-01-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                            | FS KKR Capital Corp                                                 | CUSIP: 302635AK3<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |   4461000 | PA      | $4040567.39   | 0.36%             | 2028-10-12      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| AMERICAN INTERNATIONAL                         | American International Group Inc                                    | CUSIP: 026874DS3<br>LEI: ODVCVCQG2BP6VHV36M30 | Long             | DBT              | CORP              | US        |   3770000 | PA      | $3771918.18   | 0.34%             | 2033-03-27      | Fixed         | 5.13%                 | No            |                  2 | On Loan: —       |
| CHENIERE ENERGY INC                            | Cheniere Energy Inc                                                 | CUSIP: 16411RAN9<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |   5244000 | PA      | $5233103.65   | 0.47%             | 2034-04-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                         | Fairfax Financial Holdings Ltd                                      | CUSIP: 303901BJ0<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |    844000 | PA      | $770985.62    | 0.07%             | 2031-03-03      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                         | Pacific Gas and Electric Co                                         | CUSIP: 694308JW8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |   1510000 | PA      | $1423774.03   | 0.13%             | 2028-06-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| CITIZENS FINANCIAL GROUP                       | Citizens Financial Group Inc                                        | CUSIP: 174610BH7<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   1233000 | PA      | $1258721.29   | 0.11%             | 2032-07-23      | Fixed         | 5.72%                 | No            |                  2 | On Loan: No      |
| ARIZONA PUBLIC SERVICE                         | Arizona Public Service Co                                           | CUSIP: 040555DG6<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | DBT              | CORP              | US        |   1131000 | PA      | $1140803.34   | 0.10%             | 2033-08-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| HSBC Holdings PLC                              | HSBC Holdings PLC                                                   | CUSIP: 404280BT5<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   3613000 | PA      | $3588670.31   | 0.32%             | 2029-06-19      | Fixed         | 4.58%                 | No            |                  2 | On Loan: No      |
| Amgen Inc                                      | Amgen Inc                                                           | CUSIP: 031162BZ2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   2031000 | PA      | $1684440.40   | 0.15%             | 2045-05-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                         | Marriott International Inc/MD                                       | CUSIP: 571903BQ5<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |    352000 | PA      | $349271.52    | 0.03%             | 2034-05-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones SAU                       | Telefonica Emisiones SA                                             | CUSIP: 87938WAC7<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |   4733000 | PA      | $5180798.50   | 0.47%             | 2036-06-20      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| BRIXMOR OPERATING PART                         | Brixmor Operating Partnership LP                                    | CUSIP: 11120VAJ2<br>LEI: 549300CJHBL7JBUA6503 | Long             | DBT              |  | US        |   2012000 | PA      | $1927618.33   | 0.17%             | 2030-07-01      | Fixed         | 4.05%                 | No            |                  2 | On Loan: —       |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                    | CUSIP: 87264AAZ8<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |    454000 | PA      | $366285.46    | 0.03%             | 2050-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| COTERRA ENERGY INC                             | Coterra Energy Inc                                                  | CUSIP: 127097AL7<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | DBT              | CORP              | US        |   1160000 | PA      | $1150264.57   | 0.10%             | 2034-03-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                               | Crown Castle Inc                                                    | CUSIP: 22822VBE0<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |   2915000 | PA      | $2975435.06   | 0.27%             | 2034-03-01      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                               | BAT Capital Corp                                                    | CUSIP: 054989AC2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   3479000 | PA      | $3762048.38   | 0.34%             | 2043-08-02      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| HOME DEPOT INC                                 | Home Depot Inc/The                                                  | CUSIP: 437076CH3<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | DBT              | CORP              | US        |   5895000 | PA      | $5417227.23   | 0.49%             | 2028-09-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| BLUE OWL CAPITAL CORP                          | Blue Owl Capital Corp                                               | CUSIP: 69121KAE4<br>LEI: 2549000BD79OOCPF2L94 | Long             | DBT              | CORP              | US        |   5245000 | PA      | $5130689.58   | 0.46%             | 2026-07-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Valero Energy Corp                             | Valero Energy Corp                                                  | CUSIP: 91913YAL4<br>LEI: 549300XTO5VR8SKV1V74 | Long             | DBT              | CORP              | US        |   4095000 | PA      | $4298626.91   | 0.39%             | 2037-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| UNION ELECTRIC CO                              | Union Electric Co                                                   | CUSIP: 906548CW0<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |   1296000 | PA      | $1212907.09   | 0.11%             | 2053-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| INGERSOLL RAND INC                             | Ingersoll Rand Inc                                                  | CUSIP: 45687VAB2<br>LEI: 5299004C02FMZCUOIR50 | Long             | DBT              | CORP              | US        |   4973000 | PA      | $5118070.71   | 0.46%             | 2033-08-14      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                       | Cheniere Corpus Christi Holdings LLC                                | CUSIP: 16412XAJ4<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |    911000 | PA      | $872799.48    | 0.08%             | 2029-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                    | CUSIP: 87264ABY0<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   5194000 | PA      | $3375038.14   | 0.30%             | 2060-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| PRUDENTIAL FINANCIAL INC                       | Prudential Financial Inc                                            | CUSIP: 744320BH4<br>LEI: 5PRBRS5FEH7NREC8OR45 | Long             | DBT              | CORP              | US        |   2756000 | PA      | $2495524.38   | 0.22%             | 2050-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CONSUMERS ENERGY CO                            | Consumers Energy Co                                                 | CUSIP: 210518DU7<br>LEI: 7NKTFWJ1G6MELP9TU740 | Long             | DBT              | CORP              | US        |   1796000 | PA      | $1748369.54   | 0.16%             | 2033-05-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                        | Public Service Electric and Gas Co                                  | CUSIP: 74456QCJ3<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |    639000 | PA      | $575892.66    | 0.05%             | 2032-03-15      | Fixed         | 3.10%                 | No            |                  2 | On Loan: —       |
| SAN DIEGO G & E                                | San Diego Gas & Electric Co                                         | CUSIP: 797440BZ6<br>LEI: KNIRVXKVNJJ4P8OTMS63 | Long             | DBT              | CORP              | US        |   5030000 | PA      | $4319533.53   | 0.39%             | 2030-10-01      | Fixed         | 1.70%                 | No            |                  2 | On Loan: No      |
| FAIRFAX FINL HLDGS LTD                         | Fairfax Financial Holdings Ltd                                      | CUSIP: 303901BN1<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | DBT              | CORP              | CA        |   1375000 | PA      | $1413629.21   | 0.13%             | 2033-12-07      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                         | Motorola Solutions Inc                                              | CUSIP: 620076BU2<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |   1634000 | PA      | $1447626.25   | 0.13%             | 2031-05-24      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                        | MPLX LP                                                             | CUSIP: 55336VBV1<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   4440000 | PA      | $4308881.43   | 0.39%             | 2033-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC                        | Duke Energy Florida LLC                                             | CUSIP: 26444HAQ4<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   1445000 | PA      | $1516696.72   | 0.14%             | 2033-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| FIFTH THIRD BANCORP                            | Fifth Third Bancorp                                                 | CUSIP: 316773DG2<br>LEI: THRNG6BD57P9QWTQLG42 | Long             | DBT              | CORP              | US        |   1866000 | PA      | $1859835.78   | 0.17%             | 2030-07-28      | Fixed         | 4.77%                 | No            |                  2 | On Loan: No      |
| HP INC                                         | HP Inc                                                              | CUSIP: 40434LAC9<br>LEI: WHKXQACZ14C5XRO8LW03 | Long             | DBT              | CORP              | US        |    672000 | PA      | $621707.16    | 0.06%             | 2030-06-17      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                    | Oracle Corp                                                         | CUSIP: 68389XAM7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   5117000 | PA      | $4847681.70   | 0.44%             | 2040-07-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENER HOUSTON                       | CenterPoint Energy Houston Electric LLC                             | CUSIP: 15189XBB3<br>LEI: 549300S8SEQBOJLKHW63 | Long             | DBT              | CORP              | US        |   1546000 | PA      | $1531881.36   | 0.14%             | 2033-04-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ARCELORMITTAL SA                               | ArcelorMittal SA                                                    | CUSIP: 03938LBG8<br>LEI: 2EULGUTUI56JI9SAL165 | Long             | DBT              | CORP              | LU        |    701000 | PA      | $723330.31    | 0.07%             | 2034-06-17      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| CITIZENS FINANCIAL GROUP                       | Citizens Financial Group Inc                                        | CUSIP: 174610BF1<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | DBT              | CORP              | US        |   5060000 | PA      | $5190406.72   | 0.47%             | 2030-01-23      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                       | Duke Energy Progress LLC                                            | CUSIP: 26442UAQ7<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |   1362000 | PA      | $1383958.59   | 0.12%             | 2033-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                             | VICI Properties LP                                                  | CUSIP: 925650AC7<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |   1119000 | PA      | $1110208.12   | 0.10%             | 2030-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| COCA-COLA CO/THE                               | Coca-Cola Co/The                                                    | CUSIP: 191216CY4<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | DBT              | CORP              | US        |   6848000 | PA      | $3949099.91   | 0.36%             | 2060-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: —       |
| BOEING CO                                      | Boeing Co/The                                                       | CUSIP: 097023CY9<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   5055000 | PA      | $5099317.74   | 0.46%             | 2030-05-01      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| PLAINS ALL AMER PIPELINE                       | Plains All American Pipeline LP / PAA Finance Corp                  | CUSIP: 72650RBM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1238000 | PA      | $1170770.32   | 0.11%             | 2029-12-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                          | American Homes 4 Rent LP                                            | CUSIP: 02666TAE7<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              |  | US        |    980000 | PA      | $889624.23    | 0.08%             | 2032-04-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: —       |
| GOLUB CAPITAL BDC                              | Golub Capital BDC Inc                                               | CUSIP: 38173MAB8<br>LEI: 2549005WE0QLGK9APF78 | Long             | DBT              | CORP              | US        |    810000 | PA      | $783846.21    | 0.07%             | 2026-08-24      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                        | MPLX LP                                                             | CUSIP: 55336VBX7<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |    327000 | PA      | $322345.11    | 0.03%             | 2034-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| REINSURANCE GRP OF AMER                        | Reinsurance Group of America Inc                                    | CUSIP: 759351AS8<br>LEI: LORM1GNEU1DKEW527V90 | Long             | DBT              | CORP              | US        |   1556000 | PA      | $1576536.13   | 0.14%             | 2034-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                       | Florida Power & Light Co                                            | CUSIP: 341081GZ4<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |    160000 | PA      | $157316.56    | 0.01%             | 2065-03-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| FIDELITY NATL FINANCIAL                        | Fidelity National Financial Inc                                     | CUSIP: 31620RAJ4<br>LEI: 549300CAZYIH39SYQ287 | Long             | DBT              | CORP              | US        |    811000 | PA      | $748761.57    | 0.07%             | 2030-06-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: —       |
| PHILIP MORRIS INTL INC                         | Philip Morris International Inc                                     | CUSIP: 718172CX5<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | DBT              | CORP              | US        |    787000 | PA      | $824015.96    | 0.07%             | 2032-11-17      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                      | Boeing Co/The                                                       | CUSIP: 097023CP8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |   3318721 | PA      | $2731308.98   | 0.25%             | 2035-02-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ENTERGY TEXAS INC                              | Entergy Texas Inc                                                   | CUSIP: 29365TAQ7<br>LEI: LWXX58X12AJXISQ28573 | Long             | DBT              | CORP              | US        |    350000 | PA      | $349186.80    | 0.03%             | 2035-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HYATT HOTELS CORP                              | Hyatt Hotels Corp                                                   | CUSIP: 448579AR3<br>LEI: T27JQIMTYSH41TCD5186 | Long             | DBT              | CORP              | US        |   1562000 | PA      | $1573910.44   | 0.14%             | 2029-06-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FIRST AMERICAN FINANCIAL                       | First American Financial Corp                                       | CUSIP: 31847RAH5<br>LEI: 549300B6VEZK3N0A1P55 | Long             | DBT              | CORP              | US        |   1007000 | PA      | $852542.00    | 0.08%             | 2031-08-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                           | Targa Resources Corp                                                | CUSIP: 87612GAC5<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |   1920000 | PA      | $1977518.84   | 0.18%             | 2033-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                          | Duke Energy Carolinas LLC                                           | CUSIP: 26442CBM5<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |    335000 | PA      | $328569.61    | 0.03%             | 2034-01-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                              | Eversource Energy                                                   | CUSIP: 30040WAZ1<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | DBT              | CORP              | US        |   1561000 | PA      | $1607514.26   | 0.14%             | 2034-07-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                | DTE Electric Co                                                     | CUSIP: 23338VAS5<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |   1312000 | PA      | $1330271.74   | 0.12%             | 2033-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| EVEREST REINSURANCE HLDG                       | Everest Reinsurance Holdings Inc                                    | CUSIP: 299808AH8<br>LEI: 254900P29PM5UJR3VU91 | Long             | DBT              | CORP              | US        |   1914000 | PA      | $1259660.61   | 0.11%             | 2050-10-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FDG/NXP USA                         | NXP BV / NXP Funding LLC / NXP USA Inc                              | CUSIP: 62954HAV0<br>LEI: 724500RKKW4NOJ9YQF60 | Long             | DBT              | CORP              | XX        |   4882000 | PA      | $4787781.45   | 0.43%             | 2029-06-18      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| KINDER MORGAN INC                              | Kinder Morgan Inc                                                   | CUSIP: 49456BAX9<br>LEI: 549300WR7IX8XE0TBO16 | Long             | DBT              | CORP              | US        |   2594000 | PA      | $2560061.17   | 0.23%             | 2033-06-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                       | Florida Power & Light Co                                            | CUSIP: 341081GQ4<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |   4115000 | PA      | $4070868.60   | 0.37%             | 2033-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                             | Expand Energy Corp                                                  | CUSIP: 165167DH7<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |   4022000 | PA      | $3970509.15   | 0.36%             | 2035-01-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| UNIVERSAL HEALTH SVCS                          | Universal Health Services Inc                                       | CUSIP: 913903AW0<br>LEI: 549300YGMGQDO0NMJD09 | Long             | DBT              | CORP              | US        |   3693000 | PA      | $3242087.25   | 0.29%             | 2030-10-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| BROADRIDGE FINANCIAL SOL                       | Broadridge Financial Solutions Inc                                  | CUSIP: 11133TAD5<br>LEI: 549300KZDJZQ2YIHRC28 | Long             | DBT              | CORP              | US        |   3390000 | PA      | $3135158.24   | 0.28%             | 2029-12-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| GENUINE PARTS CO                               | Genuine Parts Co                                                    | CUSIP: 372460AF2<br>LEI: 549300D46DQVEU651W04 | Long             | DBT              | CORP              | US        |   4012000 | PA      | $4047864.75   | 0.36%             | 2029-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: —       |
| WELLTOWER OP LLC                               | Welltower OP LLC                                                    | CUSIP: 95040QAR5<br>LEI: T6IZ0MBEG5ACZDTR7D06 | Long             | DBT              |  | US        |    448000 | PA      | $419646.85    | 0.04%             | 2032-06-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| AMERICAN HOMES 4 RENT                          | American Homes 4 Rent LP                                            | CUSIP: 02666TAG2<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              |  | US        |   1423000 | PA      | $1420102.56   | 0.13%             | 2034-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FISERV INC                                     | Fiserv Inc                                                          | CUSIP: 337738BE7<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   3937000 | PA      | $4007864.19   | 0.36%             | 2033-03-02      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Reynolds American Inc                          | Reynolds American Inc                                               | CUSIP: 761713BA3<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |    700000 | PA      | $702245.03    | 0.06%             | 2035-08-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES PARTNERS                       | Targa Resources Partners LP / Targa Resources Partners Finance Corp | CUSIP: 87612BBU5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5820000 | PA      | $5321909.73   | 0.48%             | 2032-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                     | TELUS Corp                                                          | CUSIP: 87971MBW2<br>LEI: L2TEUTQ8OSHMJWVLCE40 | Long             | DBT              | CORP              | CA        |   5359000 | PA      | $4785084.70   | 0.43%             | 2032-05-13      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| HUNTINGTON BANCSHARES                          | Huntington Bancshares Inc/OH                                        | CUSIP: 446150BC7<br>LEI: 549300XTVCVV9I7B5T19 | Long             | DBT              | CORP              | US        |   5157000 | PA      | $5375507.20   | 0.48%             | 2029-08-21      | Fixed         | 6.21%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                       | Capital One Financial Corp                                          | CUSIP: 14040HDB8<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    100000 | PA      | $103163.96    | 0.01%             | 2027-10-29      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| ARES CAPITAL CORP                              | Ares Capital Corp                                                   | CUSIP: 04010LBF9<br>LEI: WEQ82666OJYSI5GUAB47 | Long             | DBT              | CORP              | US        |   5007000 | PA      | $5073779.86   | 0.46%             | 2029-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| CAPITAL ONE FINANCIAL CO                       | Capital One Financial Corp                                          | CUSIP: 254709AT5<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   4536000 | PA      | $5191114.16   | 0.47%             | 2034-11-02      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| ZIMMER BIOMET HOLDINGS                         | Zimmer Biomet Holdings Inc                                          | CUSIP: 98956PAZ5<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | DBT              | CORP              | US        |   1905000 | PA      | $1879579.36   | 0.17%             | 2034-09-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: —       |
| QUANTA SERVICES INC                            | Quanta Services Inc                                                 | CUSIP: 74762EAH5<br>LEI: SHVRXXEACT60MMH07S24 | Long             | DBT              | CORP              | US        |    528000 | PA      | $444768.29    | 0.04%             | 2032-01-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: —       |
| AMEREN ILLINOIS CO                             | Ameren Illinois Co                                                  | CUSIP: 02361DBB5<br>LEI: RC71E2BZ6UOMFPDJSE79 | Long             | DBT              | CORP              | US        |   1751000 | PA      | $1665713.57   | 0.15%             | 2054-07-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC                        | Duke Energy Florida LLC                                             | CUSIP: 26444HAK7<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |   1015000 | PA      | $882771.36    | 0.08%             | 2031-12-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                            | JPMorgan Chase & Co                                                 | CUSIP: 46647PCU8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |   3798000 | PA      | $3359572.97   | 0.30%             | 2033-01-25      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| PPL ELECTRIC UTILITIES                         | PPL Electric Utilities Corp                                         | CUSIP: 69351UBC6<br>LEI: 549300GCZLSGYEYPIR35 | Long             | DBT              | CORP              | US        |   1319000 | PA      | $1300970.77   | 0.12%             | 2034-02-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| JOHNSON & JOHNSON                              | Johnson & Johnson                                                   | CUSIP: 478160CT9<br>LEI: 549300G0CFPGEF6X2043 | Long             | DBT              | CORP              | US        |   9298000 | PA      | $4972609.45   | 0.45%             | 2060-09-01      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                      | Amgen Inc                                                           | CUSIP: 031162DB3<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   3230000 | PA      | $2964148.91   | 0.27%             | 2028-08-15      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| PUBLIC SERVICE ELECTRIC                        | Public Service Electric and Gas Co                                  | CUSIP: 74456QCR5<br>LEI: 549300RUHPVD434XUK18 | Long             | DBT              | CORP              | US        |   1328000 | PA      | $1262368.85   | 0.11%             | 2054-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                    | Equifax Inc                                                         | CUSIP: 294429AT2<br>LEI: 5493004MCF8JDC86VS77 | Long             | DBT              | CORP              | US        |   3710000 | PA      | $3183303.99   | 0.29%             | 2031-09-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| CIGNA GROUP/THE                                | Cigna Group/The                                                     | CUSIP: 125523CV0<br>LEI: 549300VIWYMSIGT1U456 | Long             | DBT              | CORP              | US        |    220000 | PA      | $219693.20    | 0.02%             | 2034-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BANK OF NY MELLON CORP                         | Bank of New York Mellon Corp/The                                    | CUSIP: 064058AF7<br>LEI: WFLLPEPC7FZXENRZV188 | Long             | DBT              | CORP              | US        |   5319000 | PA      | $5267354.11   | 0.47%             | 2026-09-20      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                    | Oracle Corp                                                         | CUSIP: 68389XAV7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   4946000 | PA      | $4600074.58   | 0.41%             | 2034-07-08      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                       | Cheniere Corpus Christi Holdings LLC                                | CUSIP: 16412XAG0<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |   4747000 | PA      | $4782892.26   | 0.43%             | 2027-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Southern Copper Corp                           | Southern Copper Corp                                                | CUSIP: 84265VAG0<br>LEI: 2549007U6NAP46Q9TU15 | Long             | DBT              | CORP              | US        |    241000 | PA      | $217579.62    | 0.02%             | 2042-11-08      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                          | Wells Fargo & Co                                                    | CUSIP: 95000U3K7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |   3092000 | PA      | $3109544.63   | 0.28%             | 2035-01-23      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Telefonica Emisiones SAU                       | Telefonica Emisiones SA                                             | CUSIP: 87938WAU7<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |   1811000 | PA      | $1563434.16   | 0.14%             | 2047-03-08      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| CDW LLC/CDW FINANCE                            | CDW LLC / CDW Finance Corp                                          | CUSIP: 12513GBJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5503000 | PA      | $4989672.46   | 0.45%             | 2031-12-01      | Fixed         | 3.57%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                | DTE Electric Co                                                     | CUSIP: 23338VAV8<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | DBT              | CORP              | US        |   1057000 | PA      | $1060071.75   | 0.10%             | 2034-03-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CHARLES SCHWAB CORP                            | Charles Schwab Corp/The                                             | CUSIP: 808513CB9<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   3983000 | PA      | $3960598.01   | 0.36%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| MARRIOTT INTERNATIONAL                         | Marriott International Inc/MD                                       | CUSIP: 571903BS1<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | DBT              | CORP              | US        |   5401000 | PA      | $5327923.77   | 0.48%             | 2035-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: —       |
| PILGRIM'S PRIDE CORP                           | Pilgrim's Pride Corp                                                | CUSIP: 72147KAK4<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |   4786000 | PA      | $4960665.07   | 0.45%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| NISOURCE INC                                   | NiSource Inc                                                        | CUSIP: 65473PAR6<br>LEI: 549300D8GOWWH0SJB189 | Long             | DBT              | CORP              | US        |   1270000 | PA      | $1299503.37   | 0.12%             | 2054-11-30      | Fixed         | 6.95%                 | No            |                  2 | On Loan: —       |
| ENERGY TRANSFER LP                             | Energy Transfer LP                                                  | CUSIP: 29273VAQ3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |   2230000 | PA      | $2274158.68   | 0.20%             | 2033-02-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| AMEREN ILLINOIS CO                             | Ameren Illinois Co                                                  | CUSIP: 02361DAY6<br>LEI: RC71E2BZ6UOMFPDJSE79 | Long             | DBT              | CORP              | US        |   1053000 | PA      | $981089.83    | 0.09%             | 2032-09-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| PPL ELECTRIC UTILITIES                         | PPL Electric Utilities Corp                                         | CUSIP: 69351UBA0<br>LEI: 549300GCZLSGYEYPIR35 | Long             | DBT              | CORP              | US        |   1227000 | PA      | $1227230.44   | 0.11%             | 2033-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Transcanada Trust                              | Transcanada Trust                                                   | CUSIP: 89356BAC2<br>LEI: 549300Y0MFCAXLBWUV51 | Long             | DBT              | CORP              | CA        |   5641000 | PA      | $5486879.42   | 0.49%             | 2077-03-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                               | T-Mobile USA Inc                                                    | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |   5249000 | PA      | $5061438.59   | 0.46%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| IDEX CORP                                      | IDEX Corp                                                           | CUSIP: 45167RAJ3<br>LEI: 549300U5Y5EL6PHYLF13 | Long             | DBT              | CORP              | US        |   1240000 | PA      | $1248730.03   | 0.11%             | 2029-09-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                              | HSBC Holdings PLC                                                   | CUSIP: 404280ED7<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |   4506000 | PA      | $4608034.22   | 0.41%             | 2030-03-04      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| HCA INC                                        | HCA Inc                                                             | CUSIP: 404119BZ1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |   1224000 | PA      | $1058616.47   | 0.10%             | 2049-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| INVITATION HOMES OP                            | Invitation Homes Operating Partnership LP                           | CUSIP: 46188BAD4<br>LEI: 549300147YMUQB3GW319 | Long             | DBT              |  | US        |    875000 | PA      | $815132.63    | 0.07%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: —       |
| ELI LILLY & CO                                 | Eli Lilly & Co                                                      | CUSIP: 532457BZ0<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | DBT              | CORP              | US        |   7405000 | PA      | $3959627.52   | 0.36%             | 2060-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: —       |
| EXTRA SPACE STORAGE LP                         | Extra Space Storage LP                                              | CUSIP: 30225VAR8<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |   1419000 | PA      | $1480241.57   | 0.13%             | 2031-01-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                       | Duke Energy Progress LLC                                            | CUSIP: 26442UAL8<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |    900000 | PA      | $769946.82    | 0.07%             | 2031-08-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: —       |
| FISERV INC                                     | Fiserv Inc                                                          | CUSIP: 337738BL1<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   3972000 | PA      | $3981753.56   | 0.36%             | 2034-03-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| MICROSOFT CORP                                 | Microsoft Corp                                                      | CUSIP: 594918CD4<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | DBT              | CORP              | US        |   9065000 | PA      | $5237771.96   | 0.47%             | 2060-06-01      | Fixed         | 2.68%                 | No            |                  2 | On Loan: —       |
| AMERICAN HOMES 4 RENT                          | American Homes 4 Rent LP                                            | CUSIP: 02666TAJ6<br>LEI: 549300N4PXZ37U8QKI55 | Long             | DBT              |  | US        |   1065000 | PA      | $1039785.03   | 0.09%             | 2035-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                       | Capital One Financial Corp                                          | CUSIP: 254709AS7<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |    937000 | PA      | $1008221.30   | 0.09%             | 2032-11-29      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Southern Copper Corp                           | Southern Copper Corp                                                | CUSIP: 84265VAJ4<br>LEI: 2549007U6NAP46Q9TU15 | Long             | DBT              | CORP              | US        |   2641000 | PA      | $2516551.06   | 0.23%             | 2045-04-23      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WALMART INC                                    | Walmart Inc                                                         | CUSIP: 931142EV1<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |   1146000 | PA      | $703996.02    | 0.06%             | 2051-09-22      | Fixed         | 2.65%                 | No            |                  2 | On Loan: —       |
| HSBC HOLDINGS PLC                              | HSBC Holdings PLC                                                   | CUSIP: 404280CH0<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |    430000 | PA      | $387668.86    | 0.03%             | 2031-06-04      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| GENERAL ELECTRIC CO                            | General Electric Co                                                 | CUSIP: 36962G3P7<br>LEI: 3C7474T6CDKPR9K6YT90 | Long             | DBT              | CORP              | US        |    927000 | PA      | $970758.12    | 0.09%             | 2038-01-14      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| BAT CAPITAL CORP                               | BAT Capital Corp                                                    | CUSIP: 05526DBX2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |   1739000 | PA      | $1985308.50   | 0.18%             | 2032-10-19      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Northrop Grumman Corp                          | Northrop Grumman Corp                                               | CUSIP: 666807BH4<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |   1095000 | PA      | $970586.95    | 0.09%             | 2043-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                        | MPLX LP                                                             | CUSIP: 55336VAM2<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   3851000 | PA      | $3320700.20   | 0.30%             | 2038-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                       | Capital One Financial Corp                                          | CUSIP: 14040HDC6<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |   4693000 | PA      | $5233832.63   | 0.47%             | 2031-10-30      | Fixed         | 7.62%                 | No            |                  2 | On Loan: No      |
| UNION ELECTRIC CO                              | Union Electric Co                                                   | CUSIP: 906548CS9<br>LEI: QMPJLLDULY5C1M8PNY21 | Long             | DBT              | CORP              | US        |    864000 | PA      | $496946.06    | 0.04%             | 2051-03-15      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer