# EDGAR Filing Document

**Accession Number:** 0001804196
**File Stem:** 0001410368-26-066781
**Filing Date:** 2026-6
**Character Count:** 2741042
**Document Hash:** 2870290a2741af9bdbeeca0ec4a147bf
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-066781.hdr.sgml**: 20260625

**ACCESSION NUMBER**: 0001410368-26-066781

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260625

**DATE AS OF CHANGE**: 20260625

**PERIOD START**: 20260731

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BlackRock ETF Trust II
- **CENTRAL INDEX KEY:** 0001804196

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23511
- **FILM NUMBER:** 261121742

**BUSINESS ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809
- **BUSINESS PHONE:** 800 882 0052

**MAIL ADDRESS:**
- **STREET 1:** 100 BELLEVUE PARKWAY
- **CITY:** WILMINGTON
- **STATE:** DE
- **ZIP:** 19809

## Series and Classes Contracts Data

### iShares Flexible Income Active ETF (Series ID: S000080411)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000242803 | iShares Flexible Income Active ETF |  |

## Nport-Ex

April 30, 2026

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

2026 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

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

---

| |
|:---|
| **BlackRock ETF Trust II** |
| • iShares Flexible Income Active ETF \| BINC \| NYSE Arca |

---

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

**Not FDIC Insured • May Lose Value • No Bank Guarantee**<br>

------

Schedule of Investments (unaudited)

April 30, 2026

**iShares Flexible Income Active 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* |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| &nbsp;&nbsp;&nbsp; 1988 CLO 2 Ltd., 4.87%, 04/15/38, (3-mo. <br> CME Term SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,545 | $3546693 |
| &nbsp;&nbsp;&nbsp; 1988 CLO 3 Ltd., 4.92%, 10/15/38, (3-mo. <br> CME Term SOFR + 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 2998523 |
| &nbsp;&nbsp;&nbsp; 1988 CLO 5 Ltd., 5.21%, 07/15/37, (3-mo. <br> CME Term SOFR + 1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 4005426 |
| 522 Funding CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.99%, 10/20/31, (3-mo. CME Term <br> SOFR + 2.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 10/23/34, (3-mo. CME Term <br> SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,010 | 3012083 |
| &nbsp;&nbsp;&nbsp; 720 East CLO Ltd., 5.01%, 01/20/38, (3-mo. <br> CME Term SOFR + 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,755 | 2761043 |
| &nbsp;&nbsp;&nbsp; A10 Issuer LLC, 5.12%, 05/15/42, (1-mo. <br> CME Term SOFR + 1.47%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,388 | 8382022 |
| &nbsp;&nbsp;&nbsp; AB BSL CLO 3 Ltd., 4.93%, <br> 04/20/38, (3-mo. CME Term SOFR + <br> 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,480 | 2485922 |
| &nbsp;&nbsp;&nbsp; AB Carval Euro CLO II-C DAC, 5.73%, <br> 02/15/37, (3-mo. EURIBOR + 3.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR730 | 866946 |
| &nbsp;&nbsp;&nbsp; ACE Securities Corp. Home Equity Loan <br> Trust, 4.48%, 08/25/35, (1-mo. CME Term <br> SOFR + 0.80%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,792 | 1601958 |
| &nbsp;&nbsp;&nbsp; Acore Issuer LLC, 5.11%, 08/20/43, (1-mo. <br> CME Term SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,255 | 4254983 |
| &nbsp;&nbsp;&nbsp; ACRES Commercial Realty Issuer LLC, <br> 5.11%, 08/18/44, (1-mo. CME Term <br> SOFR + 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,000 | 9999957 |
| &nbsp;&nbsp;&nbsp; ACRES LLC, 5.28%, 08/18/40, (1-mo. CME <br> Term SOFR + 1.62%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,290 | 7301047 |
| Affirm Asset Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.62%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,287 | 4294568 |
| &nbsp;&nbsp;&nbsp; 5.19%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD563 | 563697 |
| &nbsp;&nbsp;&nbsp; 5.34%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,591 | 1593252 |
| &nbsp;&nbsp;&nbsp; 5.08%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD221 | 220807 |
| &nbsp;&nbsp;&nbsp; 4.93%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD295 | 295302 |
| &nbsp;&nbsp;&nbsp; 4.56%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD819 | 820044 |
| Affirm Master Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.99%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,009 | 1014997 |
| &nbsp;&nbsp;&nbsp; 5.13%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,418 | 3434642 |
| &nbsp;&nbsp;&nbsp; 4.45%, 10/16/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11,330 | 11294909 |
| &nbsp;&nbsp;&nbsp; 4.37%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,026 | 5996508 |
| &nbsp;&nbsp;&nbsp; 4.57%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,683 | 2672292 |
| &nbsp;&nbsp;&nbsp; 4.67%, 04/16/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,313 | 5314844 |
| &nbsp;&nbsp;&nbsp; AGL CLO 13 Ltd., 4.78%, 10/20/34, (3-mo. <br> CME Term SOFR + 1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,100 | 1100348 |
| &nbsp;&nbsp;&nbsp; AGL CLO 21 Ltd., 5.03%, 10/21/37, (3-mo. <br> CME Term SOFR + 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3005867 |
| &nbsp;&nbsp;&nbsp; AGL CLO 30 Ltd., 7.12%, 04/21/37, (3-mo. <br> CME Term SOFR + 3.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD400 | 399003 |
| &nbsp;&nbsp;&nbsp; AGL CLO 33 Ltd., 6.47%, 07/21/37, (3-mo. <br> CME Term SOFR + 2.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,300 | 1298218 |
| &nbsp;&nbsp;&nbsp; AGL CLO 35 Ltd., 5.01%, 01/21/38, (3-mo. <br> CME Term SOFR + 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001849 |
| AGL CLO 39 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 04/20/38, (3-mo. CME Term <br> SOFR + 2.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 1993436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.18%, 04/20/38, (3-mo. CME Term <br> SOFR + 4.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,300 | 1260979 |
| AGL CLO 5 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 01/20/39, (3-mo. CME Term <br> SOFR + 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 01/20/39, (3-mo. CME Term <br> SOFR + 3.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 990204 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; AGL CLO 6 Ltd., 4.96%, 04/20/38, (3-mo. <br> CME Term SOFR + 1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | $2005299 |
| &nbsp;&nbsp;&nbsp; AIMCO CLO, 4.93%, 10/17/38, (3-mo. CME <br> Term SOFR + 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 751648 |
| &nbsp;&nbsp;&nbsp; AIMCO CLO 10 Ltd., 5.07%, <br> 07/22/37, (3-mo. CME Term SOFR + <br> 1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,180 | 4185064 |
| AIMCO CLO 11 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 07/17/37, (3-mo. CME Term <br> SOFR + 1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD550 | 552232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 07/17/37, (3-mo. CME Term <br> SOFR + 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,750 | 1754157 |
| &nbsp;&nbsp;&nbsp; AIMCO CLO 23 Ltd., 4.81%, <br> 04/20/38, (3-mo. CME Term SOFR + <br> 1.13%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 249765 |
| &nbsp;&nbsp;&nbsp; AIMCO CLO 24 Ltd., 5.53%, <br> 04/19/38, (3-mo. CME Term SOFR + <br> 1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,575 | 1583563 |
| &nbsp;&nbsp;&nbsp; Alinea CLO Ltd., 4.83%, 07/20/31, (3-mo. <br> CME Term SOFR + 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD543 | 540918 |
| Allied Credit ABS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 04/17/34, (Update <br> Replacements.xls: BBSW1M + <br> 1.550%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD525 | 376968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 04/17/34, (Update <br> Replacements.xls: BBSW1M + <br> 1.750%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD584 | 418748 |
| &nbsp;&nbsp;&nbsp; AMMC CLO 32 Ltd., 5.04%, <br> 10/17/38, (3-mo. CME Term SOFR + <br> 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004875 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 15 Ltd., 5.09%, <br> 07/20/38, (3-mo. CME Term SOFR + <br> 1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2003462 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital Clo 18 Ltd., 6.18%, <br> 04/15/34, (3-mo. CME Term SOFR + <br> 2.51%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,250 | 1251752 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 18 Ltd., 5.08%, <br> 04/15/34, (3-mo. CME Term SOFR + <br> 1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD350 | 350206 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 19 Ltd., 5.02%, <br> 10/15/38, (3-mo. CME Term SOFR + <br> 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2005046 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 21 Ltd., 4.73%, <br> 10/20/34, (3-mo. CME Term SOFR + <br> 1.05%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,350 | 1349999 |
| Anchorage Capital CLO 29 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.28%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 4008892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.52%, 07/20/37, (3-mo. CME Term <br> SOFR + 6.84%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,250 | 1250000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.57%, 01/15/39, (3-mo. CME Term <br> SOFR + 2.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3019071 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 31 Ltd., 4.98%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5012066 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 32 Ltd., 7.62%, <br> 07/15/37, (3-mo. CME Term SOFR + <br> 3.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2011532 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 6 Ltd., 5.03%, <br> 07/22/38, (3-mo. CME Term SOFR + <br> 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,795 | 3805278 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO Ltd., 4.81%, <br> 01/20/39, (3-mo. CME Term SOFR + <br> 1.23%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD15,000 | 15018138 |
| &nbsp;&nbsp;&nbsp; Annisa CLO Ltd., 5.53%, 07/20/31, (3-mo. <br> CME Term SOFR + 1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD400 | 400318 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Apidos CLO LII Ltd., 4.81%, <br> 04/20/38, (3-mo. CME Term SOFR + <br> 1.13%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,975 | $6968016 |
| &nbsp;&nbsp;&nbsp; Apidos CLO LIII, 5.00%, 07/20/38, (3-mo. <br> CME Term SOFR + 1.32%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2005311 |
| Apidos CLO LIV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.33%, 10/20/38, (3-mo. CME Term <br> SOFR + 2.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 1985789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.58%, 10/20/38, (3-mo. CME Term <br> SOFR + 3.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1489023 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XL Ltd., 5.02%, <br> 07/15/37, (3-mo. CME Term SOFR + <br> 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004280 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XLIV Ltd., 7.77%, <br> 10/26/37, (3-mo. CME Term SOFR + <br> 4.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 990088 |
| &nbsp;&nbsp;&nbsp; APIDOS CLO XLVIII Ltd., 5.11%, <br> 07/25/37, (3-mo. CME Term SOFR + <br> 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD489 | 489691 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XXIV, 5.29%, 10/20/30, (3-mo. <br> CME Term SOFR + 1.61%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,242 | 2242595 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XXXI, 5.12%, 04/15/39, (3-mo. <br> CME Term SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250325 |
| Apidos CLO XXXII |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 01/20/33, (3-mo. CME Term <br> SOFR + 1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,639 | 1638740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 01/20/33, (3-mo. CME Term <br> SOFR + 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD555 | 556812 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XXXIX Ltd., 4.90%, <br> 10/21/38, (3-mo. CME Term SOFR + <br> 1.23%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD510 | 510887 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XXXV, 4.99%, 04/20/34, (3-mo. <br> CME Term SOFR + 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,424 | 2424723 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XXXVII, 5.06%, <br> 10/22/34, (3-mo. CME Term SOFR + <br> 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,815 | 1815592 |
| &nbsp;&nbsp;&nbsp; Apidos Loan Fund Ltd., 6.37%, <br> 10/25/38, (3-mo. CME Term SOFR + <br> 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,930 | 1934055 |
| &nbsp;&nbsp;&nbsp; Arbor Realty Collateralized Loan Obligation <br> Ltd., 5.58%, 01/20/41, (1-mo. CME Term <br> SOFR + 1.93%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,424 | 7427125 |
| &nbsp;&nbsp;&nbsp; Arbor Realty Commercial Real Estate <br> Notes LLC, 5.02%, 01/20/43, (1-mo. CME <br> Term SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,313 | 7303043 |
| &nbsp;&nbsp;&nbsp; Arbour CLO VI DAC, 5.18%, <br> 11/15/37, (3-mo. EURIBOR + 3.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,150 | 1347831 |
| &nbsp;&nbsp;&nbsp; Arbour CLO XI DAC, 5.78%, <br> 05/15/38, (3-mo. EURIBOR + 3.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR800 | 945291 |
| &nbsp;&nbsp;&nbsp; Arcano Euro Clo II DAC, 5.33%, <br> 07/25/39, (3-mo. EURIBOR + 3.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1178377 |
| &nbsp;&nbsp;&nbsp; AREIT, 5.22%, 07/25/43, (1-mo. CME Term <br> SOFR + 1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD14,495 | 14515222 |
| AREIT Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 08/17/41, (1-mo. CME Term <br> SOFR + 2.11%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD29 | 28945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 05/17/41, (1-mo. CME Term <br> SOFR + 1.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD448 | 447643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 12/17/29, (1-mo. CME Term <br> SOFR + 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,146 | 10132660 |
| &nbsp;&nbsp;&nbsp; Ares LIV CLO Ltd., 4.98%, 07/15/38, (3-mo. <br> CME Term SOFR + 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2005270 |
| Ares Loan Funding I Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.77%, 04/15/39, (3-mo. CME Term <br> SOFR + 5.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 993375 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 04/15/39, (3-mo. CME Term <br> SOFR + 1.17%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | $3999988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.67%, 04/15/39, (3-mo. CME Term <br> SOFR + 4.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 993382 |
| &nbsp;&nbsp;&nbsp; Ares Loan Funding IV Ltd., 6.42%, <br> 10/15/38, (3-mo. CME Term SOFR + <br> 2.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1000567 |
| &nbsp;&nbsp;&nbsp; Ares Loan Funding IX Ltd., 4.85%, <br> 03/31/38, (3-mo. CME Term SOFR + <br> 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,000 | 7998501 |
| &nbsp;&nbsp;&nbsp; Ares Loan Funding VIII Ltd., 4.92%, <br> 01/24/38, (3-mo. CME Term SOFR + <br> 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,250 | 5258662 |
| &nbsp;&nbsp;&nbsp; Ares LXVI CLO Ltd., 4.94%, <br> 10/25/38, (3-mo. CME Term SOFR + <br> 1.27%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,675 | 2680451 |
| &nbsp;&nbsp;&nbsp; Ares LXX CLO Ltd., 4.92%, 01/25/39, (3-mo. <br> CME Term SOFR + 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,500 | 5511411 |
| &nbsp;&nbsp;&nbsp; Ares LXXIX CLO Ltd., 4.85%, <br> 04/20/39, (3-mo. CME Term SOFR + <br> 1.19%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,750 | 4749782 |
| &nbsp;&nbsp;&nbsp; Ares XLI CLO Ltd., 5.00%, 04/15/34, (3-mo. <br> CME Term SOFR + 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3000122 |
| &nbsp;&nbsp;&nbsp; Ares XXVII CLO Ltd., 5.32%, <br> 10/28/34, (3-mo. CME Term SOFR + <br> 1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD226 | 226535 |
| ARI Fleet Lease Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.69%, 02/17/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,288 | 2314872 |
| &nbsp;&nbsp;&nbsp; 6.03%, 02/17/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,492 | 2531546 |
| &nbsp;&nbsp;&nbsp; 5.16%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD829 | 837642 |
| &nbsp;&nbsp;&nbsp; 5.38%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD469 | 475048 |
| &nbsp;&nbsp;&nbsp; Arini European CLO IV DAC, 5.70%, <br> 01/15/38, (3-mo. EURIBOR + 3.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,660 | 1952141 |
| &nbsp;&nbsp;&nbsp; Arini European CLO V DAC, 5.00%, <br> 01/15/39, (3-mo. EURIBOR + 2.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,560 | 1828929 |
| &nbsp;&nbsp;&nbsp; Arini U.S. CLO II Ltd., 5.03%, <br> 01/15/39, (3-mo. CME Term SOFR + <br> 1.27%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD16,000 | 16031851 |
| Asimi Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 05/16/32, (1-day SONIA+ <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP266 | 363157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 05/16/32, (1-day SONIA+ <br> 1.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP109 | 148715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 05/16/32, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP139 | 189280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 05/16/32, (1-day SONIA+ <br> 2.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP58 | 79278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.56%, 12/16/32, (1-day SONIA+ <br> 0.82%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,637 | 3591314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.54%, 12/16/32, (1-day SONIA+ <br> 2.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP625 | 850608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.54%, 12/16/32, (1-day SONIA+ <br> 4.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP639 | 869905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 12/16/32, (1-day SONIA+ <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,547 | 2111178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 12/16/32, (1-day SONIA+ <br> 1.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP324 | 439721 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 12/16/32, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP316 | 429359 |
| &nbsp;&nbsp;&nbsp; Asset-Backed European Securitisation <br> Transaction Twenty-Five SRL<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 11/15/39, (1-mo. EURIBOR + <br> 2.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR77 | 90715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 11/15/39, (1-mo. EURIBOR + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR108 | 127342 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 11/15/39, (1-mo. EURIBOR + <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR77 | $90625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 11/15/39, (1-mo. EURIBOR + <br> 4.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR99 | 116841 |
| &nbsp;&nbsp;&nbsp; Asset-Backed European Securitisation <br> Transaction Twenty-Four Srl<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 08/16/40, (1-mo. EURIBOR + <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR525 | 620360 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 08/16/40, (1-mo. EURIBOR + <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR478 | 563575 |
| &nbsp;&nbsp;&nbsp; Asset-Backed European Securitisation <br> Transaction Twenty-Four SRL<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 08/16/40, (1-mo. EURIBOR + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,352 | 3958705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 08/16/40, (1-mo. EURIBOR + <br> 0.72%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR6,801 | 7997396 |
| &nbsp;&nbsp;&nbsp; Asset-Backed European Securitisation <br> Transaction Twenty-Three SARL<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 03/21/34, (1-mo. EURIBOR + <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR76 | 90271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 03/21/34, (1-mo. EURIBOR + <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR76 | 90321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 03/21/34, (1-mo. EURIBOR + <br> 2.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR76 | 90575 |
| &nbsp;&nbsp;&nbsp; 3.30%, 03/21/34<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; EUR458 | 539751 |
| &nbsp;&nbsp;&nbsp; Atrium XV, 5.07%, 07/16/36, (3-mo. CME <br> Term SOFR + 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001219 |
| &nbsp;&nbsp;&nbsp; Aurium CLO VII DAC, 5.35%, <br> 10/15/38, (3-mo. EURIBOR + 3.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR720 | 846715 |
| &nbsp;&nbsp;&nbsp; Aurium CLO XIII DAC, 5.00%, <br> 04/15/38, (3-mo. EURIBOR + 2.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,100 | 1272258 |
| Auto ABS Italian Stella Loans SRL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 12/29/36, (1-mo. EURIBOR + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR229 | 270173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.73%, 12/29/36, (1-mo. EURIBOR + <br> 0.73%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR529 | 622185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 12/29/36, (1-mo. EURIBOR + <br> 1.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR64 | 75252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.30%, 12/29/36, (1-mo. EURIBOR + <br> 2.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR64 | 75462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.91%, 12/28/40, (1-mo. EURIBOR + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR598 | 703161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.64%, 12/28/40, (1-mo. EURIBOR + <br> 0.73%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR867 | 1019431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.16%, 12/28/40, (1-mo. EURIBOR + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR149 | 175350 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.81%, 12/28/40, (1-mo. EURIBOR + <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR92 | 108407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.09%, 06/25/40, (1-mo. EURIBOR + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR532 | 624131 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.61%, 06/25/40, (1-mo. EURIBOR + <br> 0.67%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,435 | 8732246 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.89%, 06/25/40, (1-mo. EURIBOR + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,620 | 3074962 |
| Auto Abs Spanish Loans |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.78%, 12/28/38, (1-mo. EURIBOR + <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR300 | 353034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 12/28/38, (1-mo. EURIBOR + <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR500 | 585780 |
| Auto ABS Spanish Loans FT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.76%, 09/28/38, (1-mo. EURIBOR + <br> 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR665 | 782088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.21%, 09/28/38, (1-mo. EURIBOR + <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR295 | 348333 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Auto1 Car Funding SARL, 2.70%, <br> 12/15/33, (1-mo. EURIBOR + 0.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR222 | $260526 |
| &nbsp;&nbsp;&nbsp; Auto1 Car Funding Sarl Compartment <br> FinanceHero 2<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.30%, 07/16/35, (1-mo. EURIBOR + <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR84 | 98512 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 07/16/35, (1-mo. EURIBOR + <br> 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR167 | 196240 |
| AutoFlorence 4 SRL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.61%, 12/24/44, (1-mo. EURIBOR + <br> 0.69%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,574 | 3025784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.97%, 12/24/44, (1-mo. EURIBOR + <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,032 | 1206912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.37%, 12/24/44, (1-mo. EURIBOR + <br> 1.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR572 | 671060 |
| AutoNoria Spain FT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.94%, 04/30/43, (1-mo. EURIBOR + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR486 | 571771 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.14%, 04/30/43, (1-mo. EURIBOR + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR97 | 114270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.44%, 04/30/43, (1-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR97 | 114530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 04/30/43, (1-mo. EURIBOR + <br> 3.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR97 | 114730 |
| &nbsp;&nbsp;&nbsp; Avoca CLO XVIII DAC, 5.25%, <br> 01/15/38, (3-mo. EURIBOR + 3.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,170 | 1368619 |
| Bain Capital Credit CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.19%, 07/15/37, (3-mo. CME Term <br> SOFR + 1.52%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2002320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 01/21/38, (3-mo. CME Term <br> SOFR + 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 751675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 07/17/35, (3-mo. CME Term <br> SOFR + 1.16%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,000 | 10001062 |
| &nbsp;&nbsp;&nbsp; Ballyrock CLO 14 Ltd., 5.38%, <br> 07/20/37, (3-mo. CME Term SOFR + <br> 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1004227 |
| &nbsp;&nbsp;&nbsp; Ballyrock CLO 15 Ltd., 5.00%, <br> 01/15/38, (3-mo. CME Term SOFR + <br> 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250558 |
| &nbsp;&nbsp;&nbsp; Ballyrock CLO 20 Ltd., 6.47%, <br> 10/15/36, (3-mo. CME Term SOFR + <br> 2.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 982516 |
| &nbsp;&nbsp;&nbsp; Ballyrock CLO 28 Ltd., 5.38%, <br> 01/20/38, (3-mo. CME Term SOFR + <br> 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | 502214 |
| &nbsp;&nbsp;&nbsp; Bardot CLO Ltd., 4.64%, 10/22/32, (3-mo. <br> CME Term SOFR + 0.98%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD812 | 811269 |
| &nbsp;&nbsp;&nbsp; Barings CLO Ltd., 5.10%, 07/15/39, (3-mo. <br> CME Term SOFR + 1.43%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,200 | 1201551 |
| &nbsp;&nbsp;&nbsp; Battalion CLO IX Ltd., 4.63%, <br> 07/15/31, (3-mo. CME Term SOFR + <br> 0.96%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,233 | 1233103 |
| &nbsp;&nbsp;&nbsp; Battalion CLO VIII Ltd., 4.93%, <br> 07/18/30, (3-mo. CME Term SOFR + <br> 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,215 | 3209194 |
| &nbsp;&nbsp;&nbsp; Battalion CLO XII Ltd., 5.20%, <br> 05/17/31, (3-mo. CME Term SOFR + <br> 1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,170 | 1170620 |
| &nbsp;&nbsp;&nbsp; Battalion CLO XV Ltd., 4.66%, <br> 01/17/33, (3-mo. CME Term SOFR + <br> 0.98%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,723 | 2721404 |
| &nbsp;&nbsp;&nbsp; Bavarian Sky U.K. 6 PLC, 4.29%, <br> 06/20/32, (1-day SONIA+ 0.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP450 | 612564 |
| &nbsp;&nbsp;&nbsp; BBAM European CLO I DAC, 5.24%, <br> 10/22/38, (3-mo. EURIBOR + 3.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 116777 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; BBAM U.S. CLO I Ltd., 4.87%, <br> 03/30/38, (3-mo. CME Term SOFR + <br> 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,560 | $4562213 |
| &nbsp;&nbsp;&nbsp; BBAM U.S. CLO VI Ltd., 5.06%, <br> 01/27/39, (3-mo. CME Term SOFR + <br> 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5010353 |
| Bbva Consumer Auto FT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.31%, 05/19/42, (3-mo. EURIBOR + <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR94 | 110569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.01%, 05/19/42, (3-mo. EURIBOR + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR281 | 330499 |
| Bbva Consumer Fondo de Titulizacion |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 05/20/39, (3-mo. EURIBOR + <br> 3.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR500 | 586367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 05/20/39, (3-mo. EURIBOR + <br> 2.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,300 | 1516385 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.96%, 05/20/39, (3-mo. EURIBOR + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,700 | 1992922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.11%, 05/20/39, (3-mo. EURIBOR + <br> 5.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR800 | 935738 |
| BDS LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 09/19/39, (1-mo. CME Term <br> SOFR + 1.58%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,315 | 7337234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 10/17/42, (1-mo. CME Term <br> SOFR + 1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,895 | 7879512 |
| &nbsp;&nbsp;&nbsp; Bear Stearns Asset Backed Securities I <br> Trust, 4.23%, 11/25/36, (1-mo. CME Term <br> SOFR + 0.55%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,036 | 2078449 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO 42 Ltd., 4.97%, <br> 10/25/38, (3-mo. CME Term SOFR + <br> 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5010515 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO 44 Ltd., 4.89%, <br> 01/15/39, (3-mo. CME Term SOFR + <br> 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2002008 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO IV Ltd., 6.33%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 2.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3001297 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO Ltd., 4.86%, <br> 04/20/38, (3-mo. CME Term SOFR + <br> 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1000299 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO V-B Ltd., <br> 5.21%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.53%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,340 | 3344332 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XVI Ltd., <br> 6.38%, 01/17/38, (3-mo. CME Term <br> SOFR + 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 249988 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXII Ltd., <br> 6.43%, 04/20/35, (3-mo. CME Term <br> SOFR + 2.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 998230 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXIII Ltd., <br> 4.77%, 04/25/34, (3-mo. CME Term <br> SOFR + 1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250091 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXIV Ltd., <br> 4.74%, 10/20/34, (3-mo. CME Term <br> SOFR + 1.06%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 999964 |
| Benefit Street Partners CLO XXIX Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 01/25/38, (3-mo. CME Term <br> SOFR + 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,250 | 8250581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 01/25/38, (3-mo. CME Term <br> SOFR + 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1003207 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXVII Ltd., <br> 5.05%, 10/20/37, (3-mo. CME Term <br> SOFR + 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,500 | 7513010 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXVIII Ltd., <br> 5.03%, 10/20/37, (3-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD530 | 531194 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXXIX Ltd., <br> 6.22%, 04/15/38, (3-mo. CME Term <br> SOFR + 2.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,550 | $1546361 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXXV Ltd., <br> 6.97%, 04/25/37, (3-mo. CME Term <br> SOFR + 3.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD375 | 376274 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXXVIII Ltd., <br> 5.32%, 01/25/38, (3-mo. CME Term <br> SOFR + 1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2007795 |
| Bethpage Park CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 01/15/35, (3-mo. CME Term <br> SOFR + 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1000293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 10/15/36, (3-mo. CME Term <br> SOFR + 3.21%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | 475639 |
| &nbsp;&nbsp;&nbsp; Birch Grove CLO 10 Ltd., 5.05%, <br> 01/22/38, (3-mo. CME Term SOFR + <br> 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD450 | 450837 |
| &nbsp;&nbsp;&nbsp; Birch Grove CLO 11 Ltd., 5.02%, <br> 01/22/38, (3-mo. CME Term SOFR + <br> 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,650 | 1654183 |
| &nbsp;&nbsp;&nbsp; Birch Grove CLO 2 Ltd., 6.83%, <br> 10/19/37, (3-mo. CME Term SOFR + <br> 3.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1003478 |
| &nbsp;&nbsp;&nbsp; Birch Grove CLO 4 Ltd., 5.15%, <br> 07/15/37, (3-mo. CME Term SOFR + <br> 1.48%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001378 |
| &nbsp;&nbsp;&nbsp; Birch Grove CLO 6 Ltd., 5.06%, <br> 07/20/37, (3-mo. CME Term SOFR + <br> 1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,540 | 6551431 |
| &nbsp;&nbsp;&nbsp; Blueberry Park CLO Ltd., 6.58%, <br> 10/20/37, (3-mo. CME Term SOFR + <br> 2.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1000903 |
| BlueMountain CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 04/20/31, (3-mo. CME Term <br> SOFR + 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250353 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.61%, 08/15/31, (3-mo. CME Term <br> SOFR + 1.96%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 10/25/30, (3-mo. CME Term <br> SOFR + 1.19%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,074 | 2072798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 10/25/30, (3-mo. CME Term <br> SOFR + 1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,650 | 1655270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 11/15/30, (3-mo. CME Term <br> SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD438 | 438183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 11/15/30, (3-mo. CME Term <br> SOFR + 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1000109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 08/15/31, (3-mo. CME Term <br> SOFR + 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD825 | 825571 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 04/20/30, (3-mo. CME Term <br> SOFR + 0.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,193 | 3192695 |
| BlueMountain CLO XXII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 07/15/31, (3-mo. CME Term <br> SOFR + 1.76%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,250 | 1252956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 07/15/31, (3-mo. CME Term <br> SOFR + 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD122 | 122326 |
| &nbsp;&nbsp;&nbsp; BlueMountain CLO XXIV Ltd., 5.54%, <br> 04/20/34, (3-mo. CME Term SOFR + <br> 1.86%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250514 |
| &nbsp;&nbsp;&nbsp; BlueMountain CLO XXX Ltd., 4.82%, <br> 04/15/35, (3-mo. CME Term SOFR + <br> 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,900 | 2900314 |
| &nbsp;&nbsp;&nbsp; Brant Point CLO Ltd., 5.61%, <br> 01/20/39, (3-mo. CME Term SOFR + <br> 1.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,050 | 1053336 |
| &nbsp;&nbsp;&nbsp; BRAVO Residential Funding Trust, 5.55%, <br> 09/25/54<sup>(a)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,578 | 3585834 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Bridge Street CLO II Ltd., 4.94%, <br> 01/20/39, (3-mo. CME Term SOFR + <br> 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | $2004340 |
| &nbsp;&nbsp;&nbsp; Bridge Street CLO III Ltd., 5.10%, <br> 10/20/37, (3-mo. CME Term SOFR + <br> 1.42%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004601 |
| &nbsp;&nbsp;&nbsp; Bridge Street CLO V Ltd., 6.53%, <br> 04/20/38, (3-mo. CME Term SOFR + <br> 2.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,800 | 3805810 |
| &nbsp;&nbsp;&nbsp; Bridge Street CLO VI Ltd., 4.95%, <br> 01/15/39, (3-mo. CME Term SOFR + <br> 1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5011587 |
| Brignole Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 02/24/42, (1-mo. EURIBOR + <br> 0.78%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR415 | 487758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.12%, 02/24/42, (1-mo. EURIBOR + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR71 | 83268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.92%, 02/24/42, (1-mo. EURIBOR + <br> 4.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR45 | 53222 |
| Bryant Park Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 01/18/38, (3-mo. CME Term <br> SOFR + 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2505279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 04/15/38, (3-mo. CME Term <br> SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1000234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.47%, 04/15/38, (3-mo. CME Term <br> SOFR + 2.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 727578 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.62%, 04/15/38, (3-mo. CME Term <br> SOFR + 3.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1483961 |
| BSPDF Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 12/15/42, (1-mo. CME Term <br> SOFR + 1.52%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,217 | 8237367 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 09/18/43, (1-mo. CME Term <br> SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,000 | 9988708 |
| &nbsp;&nbsp;&nbsp; BXMT Ltd., 5.30%, 10/18/42, (1-mo. CME <br> Term SOFR + 1.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD12,785 | 12825926 |
| &nbsp;&nbsp;&nbsp; California Street CLO IX LP, 5.04%, <br> 07/16/32, (3-mo. CME Term SOFR + <br> 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD313 | 313169 |
| Canyon Capital CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 04/15/34, (3-mo. CME Term <br> SOFR + 2.01%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/31, (3-mo. CME Term <br> SOFR + 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD219 | 219254 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/15/38, (3-mo. CME Term <br> SOFR + 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,835 | 2835782 |
| Canyon CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/15/31, (3-mo. CME Term <br> SOFR + 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD154 | 153807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.77%, 10/15/34, (3-mo. CME Term <br> SOFR + 1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,750 | 1750435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 04/15/39, (3-mo. CME Term <br> SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 999714 |
| &nbsp;&nbsp;&nbsp; Capital Four CLO VIII DAC, 5.28%, <br> 10/25/37, (3-mo. EURIBOR + 3.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,360 | 1603242 |
| Cardiff Auto Receivables Securitisation PLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.64%, 08/20/31<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; GBP230 | 314569 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 08/20/31, (1-day SONIA+ <br> 2.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP175 | 240798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 08/20/31, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP381 | 519899 |
| Carlyle U.S. CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 10/21/37, (3-mo. CME Term <br> SOFR + 1.78%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1004417 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 10/15/37, (3-mo. CME Term <br> SOFR + 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3005775 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.83%, 04/20/38, (3-mo. CME Term <br> SOFR + 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,405 | $1403937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.53%, 07/20/37, (3-mo. CME Term <br> SOFR + 2.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,750 | 1753864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 04/15/38, (3-mo. CME Term <br> SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,350 | 6353160 |
| &nbsp;&nbsp;&nbsp; CARLYLE U.S. CLO Ltd., 5.04%, <br> 01/20/38, (3-mo. CME Term SOFR + <br> 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002003 |
| &nbsp;&nbsp;&nbsp; Carrington Mortgage Loan Trust, 4.23%, <br> 05/25/36, (1-mo. CME Term SOFR + <br> 0.55%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,234 | 1093825 |
| &nbsp;&nbsp;&nbsp; CarVal CLO I Ltd., 4.91%, 07/16/31, (3-mo. <br> CME Term SOFR + 1.23%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD722 | 721961 |
| &nbsp;&nbsp;&nbsp; CarVal CLO II Ltd., 4.70%, 04/20/32, (3-mo. <br> CME Term SOFR + 1.02%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD744 | 743962 |
| &nbsp;&nbsp;&nbsp; Carval Clo X-C Ltd., 5.68%, <br> 07/20/37, (3-mo. CME Term SOFR + <br> 2.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001492 |
| &nbsp;&nbsp;&nbsp; Cascade MH Asset Trust, 1.75%, <br> 02/25/46<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD229 | 209459 |
| &nbsp;&nbsp;&nbsp; Cbam Ltd., 5.54%, 07/20/31, (3-mo. CME <br> Term SOFR + 1.86%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD300 | 300811 |
| &nbsp;&nbsp;&nbsp; CBAM Ltd., 5.02%, 10/17/38, (3-mo. CME <br> Term SOFR + 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3006654 |
| &nbsp;&nbsp;&nbsp; Cedar Funding VII CLO Ltd., 4.96%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,500 | 3506781 |
| &nbsp;&nbsp;&nbsp; Cedar Funding XI CLO Ltd., 4.73%, <br> 05/29/32, (3-mo. CME Term SOFR + <br> 1.06%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,197 | 1197016 |
| &nbsp;&nbsp;&nbsp; Cedar Funding XIV CLO Ltd., 5.05%, <br> 10/15/37, (3-mo. CME Term SOFR + <br> 1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD550 | 551014 |
| &nbsp;&nbsp;&nbsp; Cedar Funding XIX CLO Ltd., 5.00%, <br> 01/23/38, (3-mo. CME Term SOFR + <br> 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002387 |
| &nbsp;&nbsp;&nbsp; Chesapeake Funding II LLC, 5.65%, <br> 05/15/35<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD25 | 24696 |
| &nbsp;&nbsp;&nbsp; CIFC European Funding CLO II DAC, <br> 5.20%, 10/15/39, (3-mo. EURIBOR + <br> 3.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,440 | 1687515 |
| &nbsp;&nbsp;&nbsp; CIFC European Funding CLO III DAC, <br> 4.54%, 01/15/39, (3-mo. EURIBOR + <br> 2.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,501 | 2908720 |
| &nbsp;&nbsp;&nbsp; Cifc Funding Ltd., 5.48%, 01/17/35, (3-mo. <br> CME Term SOFR + 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3001534 |
| CIFC Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 04/21/37, (3-mo. CME Term <br> SOFR + 1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,070 | 1071229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 07/17/37, (3-mo. CME Term <br> SOFR + 1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,170 | 4174833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 07/16/37, (3-mo. CME Term <br> SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,200 | 5208043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 07/25/37, (3-mo. CME Term <br> SOFR + 1.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 251072 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 07/23/37, (3-mo. CME Term <br> SOFR + 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,250 | 2255091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.62%, 07/23/37, (3-mo. CME Term <br> SOFR + 2.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,730 | 3738937 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 07/15/36, (3-mo. CME Term <br> SOFR + 1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,745 | 2746043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 10/20/37, (3-mo. CME Term <br> SOFR + 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,250 | 2254545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 10/20/37, (3-mo. CME Term <br> SOFR + 1.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2510543 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 10/15/34, (3-mo. CME Term <br> SOFR + 1.91%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,370 | $1374818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 04/23/38, (3-mo. CME Term <br> SOFR + 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 999251 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 04/23/38, (3-mo. CME Term <br> SOFR + 2.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2494263 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 04/15/38, (3-mo. CME Term <br> SOFR + 1.13%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,300 | 1298772 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 07/21/37, (3-mo. CME Term <br> SOFR + 1.48%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5005710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 10/18/38, (3-mo. CME Term <br> SOFR + 1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD640 | 643172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/18/38, (3-mo. CME Term <br> SOFR + 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3015631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 10/17/38, (3-mo. CME Term <br> SOFR + 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.28%, 10/17/38, (3-mo. CME Term <br> SOFR + 2.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,450 | 4439472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.43%, 01/16/38, (3-mo. CME Term <br> SOFR + 2.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,820 | 1822737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.37%, 10/15/38, (3-mo. CME Term <br> SOFR + 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,440 | 3447709 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 03/31/38, (3-mo. CME Term <br> SOFR + 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 999817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/15/38, (3-mo. CME Term <br> SOFR + 1.23%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 04/20/37, (3-mo. CME Term <br> SOFR + 3.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 2991388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 10/24/38, (3-mo. CME Term <br> SOFR + 1.29%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 04/16/39, (3-mo. CME Term <br> SOFR + 1.16%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,000 | 5996455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.56%, 01/22/38, (3-mo. CME Term <br> SOFR + 1.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD730 | 731862 |
| CIT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 10/25/37, (1-mo. CME Term <br> SOFR + 2.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 3947485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 10/25/37, (1-mo. CME Term <br> SOFR + 2.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,516 | 1471826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 10/25/37, (1-mo. CME Term <br> SOFR + 2.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,321 | 3488895 |
| College Avenue Student Loans LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 07/26/55, (1-mo. CME Term <br> SOFR + 1.01%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD900 | 894342 |
| &nbsp;&nbsp;&nbsp; 3.06%, 07/26/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD64 | 59166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 06/25/52, (1-mo. CME Term <br> SOFR + 0.91%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD695 | 689469 |
| &nbsp;&nbsp;&nbsp; 2.72%, 07/26/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD130 | 119085 |
| &nbsp;&nbsp;&nbsp; 1.60%, 07/25/51<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD286 | 262096 |
| &nbsp;&nbsp;&nbsp; Compartment Driver UK Ten, 4.74%, <br> 04/25/33, (1-day SONIA+ 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP500 | 681319 |
| &nbsp;&nbsp;&nbsp; Compass Datacenters Issuer II LLC, 4.93%, <br> 11/25/50<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,203 | 6088764 |
| Compass Datacenters Issuer III LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.29%, 07/25/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,205 | 5137338 |
| &nbsp;&nbsp;&nbsp; 4.90%, 02/25/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,136 | 5087705 |
| &nbsp;&nbsp;&nbsp; 5.29%, 02/25/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,024 | 4000272 |
| &nbsp;&nbsp;&nbsp; 5.44%, 02/25/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,858 | 3823618 |
| &nbsp;&nbsp;&nbsp; Concord Music Royalties LLC, 5.64%, <br> 10/20/74<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,013 | 1018042 |
| &nbsp;&nbsp;&nbsp; Consolidated Communications LLC/Fidium <br> Fiber Finance Holdco LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.77%, 12/20/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,626 | 8641045 |
| &nbsp;&nbsp;&nbsp; 5.52%, 12/20/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11,516 | 11607207 |
| &nbsp;&nbsp;&nbsp; 5.08%, 03/20/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,544 | 3508889 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; 5.42%, 03/20/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,032 | $2005388 |
| &nbsp;&nbsp;&nbsp; Contego CLO V DAC, 5.30%, <br> 10/15/37, (3-mo. EURIBOR + 3.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,560 | 1805135 |
| &nbsp;&nbsp;&nbsp; Contego CLO VII DAC, 5.62%, <br> 01/23/38, (3-mo. EURIBOR + 3.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,980 | 2303467 |
| &nbsp;&nbsp;&nbsp; Contego CLO XI DAC, 5.21%, <br> 11/20/38, (3-mo. EURIBOR + 3.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR850 | 992605 |
| &nbsp;&nbsp;&nbsp; Countrywide Asset-Backed Certificates <br> Trust, 3.28%, 06/25/37, (1-mo. CME Term <br> SOFR + 0.49%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,175 | 2112807 |
| &nbsp;&nbsp;&nbsp; CQS U.S. CLO 6 Ltd., 5.23%, <br> 03/31/39, (3-mo. CME Term SOFR + <br> 1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1004266 |
| &nbsp;&nbsp;&nbsp; Credit-Based Asset Servicing and <br> Securitization LLC, 4.57%, <br> 07/25/33, (1-mo. CME Term SOFR + <br> 0.89%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,197 | 3235848 |
| &nbsp;&nbsp;&nbsp; Creeksource Dunes Creek CLO Ltd., 6.77%, <br> 01/15/38, (3-mo. CME Term SOFR + <br> 3.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250953 |
| &nbsp;&nbsp;&nbsp; Cross 2025-CES1 Mortgage Trust, 5.30%, <br> 11/25/60<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,761 | 3753754 |
| &nbsp;&nbsp;&nbsp; Crown City CLO I, 5.05%, 07/20/38, (3-mo. <br> CME Term SOFR + 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,800 | 5814492 |
| &nbsp;&nbsp;&nbsp; Crown Point CLO 11 Ltd., 4.94%, <br> 02/28/38, (3-mo. CME Term SOFR + <br> 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004038 |
| &nbsp;&nbsp;&nbsp; Crown Point CLO 8 Ltd., 5.13%, <br> 10/20/34, (3-mo. CME Term SOFR + <br> 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250096 |
| &nbsp;&nbsp;&nbsp; Cumulus Static CLO DAC, 5.68%, <br> 11/15/33, (3-mo. EURIBOR + 3.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR333 | 391106 |
| CWABS Asset-Backed Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.01%, 08/25/34<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,937 | 1729195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.22%, 05/25/47, (1-mo. CME Term <br> SOFR + 0.46%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,235 | 2179513 |
| &nbsp;&nbsp;&nbsp; CWHEQ Revolving Home Equity Loan Trust <br> Series, 3.91%, 07/15/36, (1-mo. CME <br> Term SOFR + 0.25%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,049 | 1000432 |
| &nbsp;&nbsp;&nbsp; D2 Multifamily Credit Issuer Ltd., 5.11%, <br> 11/19/43, (1-mo. CME Term SOFR + <br> 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,250 | 2250000 |
| DB Master Finance LLC, 4.89%, 08/20/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,250 | 5199811 |
| &nbsp;&nbsp;&nbsp; Deephaven Residential Mortgage Trust, <br> 5.22%, 10/25/55<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,899 | 9880572 |
| &nbsp;&nbsp;&nbsp; Diameter Capital CLO 10 Ltd., 4.99%, <br> 04/20/38, (3-mo. CME Term SOFR + <br> 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,250 | 2255524 |
| Diameter Capital CLO 2 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 10/15/37, (3-mo. CME Term <br> SOFR + 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3006404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.82%, 10/15/37, (3-mo. CME Term <br> SOFR + 6.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1503021 |
| &nbsp;&nbsp;&nbsp; Diameter Capital CLO 3 Ltd., 5.00%, <br> 01/15/38, (3-mo. CME Term SOFR + <br> 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,000 | 7015392 |
| &nbsp;&nbsp;&nbsp; Dilosk Rmbs NO 9 Dac, 2.71%, <br> 01/25/63, (3-mo. EURIBOR + 0.68%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR484 | 568608 |
| Dowson PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 08/20/31, (1-day SONIA+ <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP118 | 160854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 08/20/31, (1-day SONIA+ <br> 2.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 137045 |
| &nbsp;&nbsp;&nbsp; 4.62%, 08/20/31<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; GBP301 | 410436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 08/20/31, (1-day SONIA + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP665 | 906333 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.69%, 08/20/31, (1-day SONIA+ <br> 3.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP500 | $688591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.69%, 08/20/31, (1-day SONIA+ <br> 6.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP500 | 690815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 12/20/32, (1-day SONIA+ <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP383 | 521915 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.99%, 12/20/32, (1-day SONIA+ <br> 5.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP548 | 747757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.64%, 12/20/32, (1-day SONIA+ <br> 2.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP436 | 595048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 12/20/32, (1-day SONIA+ <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP5,489 | 7483021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 12/20/32, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP348 | 473986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 12/20/32, (1-day SONIA+ <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,263 | 3082505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 05/20/33, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP487 | 662680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 05/20/33, (1-day SONIA+ <br> 4.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP532 | 723908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 05/20/33, (1-day SONIA+ <br> 2.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP566 | 770177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 05/20/33, (1-day SONIA+ <br> 3.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,036 | 2770461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 05/20/33, (1-day SONIA+ <br> 1.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP398 | 541575 |
| &nbsp;&nbsp;&nbsp; Dryden 113 CLO Ltd., 4.76%, <br> 10/15/37, (3-mo. CME Term SOFR + <br> 1.09%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 2999515 |
| &nbsp;&nbsp;&nbsp; Dryden 115 CLO Ltd., 7.48%, <br> 04/18/37, (3-mo. CME Term SOFR + <br> 3.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3007662 |
| &nbsp;&nbsp;&nbsp; Dryden 121 CLO Ltd., 6.57%, <br> 01/15/37, (3-mo. CME Term SOFR + <br> 2.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1003567 |
| &nbsp;&nbsp;&nbsp; Dryden 40 Senior Loan Fund, 4.80%, <br> 08/15/31, (3-mo. CME Term SOFR + <br> 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,368 | 4368073 |
| &nbsp;&nbsp;&nbsp; Dryden 42 Senior Loan Fund, 5.52%, <br> 07/15/37, (3-mo. CME Term SOFR + <br> 1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1004527 |
| &nbsp;&nbsp;&nbsp; Dryden 53 CLO Ltd., 4.97%, <br> 01/15/31, (3-mo. CME Term SOFR + <br> 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,710 | 1708705 |
| &nbsp;&nbsp;&nbsp; Dryden 60 CLO Ltd., 4.98%, <br> 07/15/31, (3-mo. CME Term SOFR + <br> 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD352 | 351559 |
| &nbsp;&nbsp;&nbsp; Dryden 61 CLO Ltd., 5.26%, <br> 01/17/32, (3-mo. CME Term SOFR + <br> 1.58%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3011805 |
| &nbsp;&nbsp;&nbsp; Dryden 64 CLO Ltd., 4.91%, <br> 04/18/31, (3-mo. CME Term SOFR + <br> 1.23%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD187 | 186823 |
| &nbsp;&nbsp;&nbsp; Dryden 76 CLO Ltd., 5.04%, <br> 10/15/37, (3-mo. CME Term SOFR + <br> 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD15,250 | 15280558 |
| &nbsp;&nbsp;&nbsp; Dryden 80 CLO Ltd., 5.53%, <br> 01/17/33, (3-mo. CME Term SOFR + <br> 1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1499575 |
| &nbsp;&nbsp;&nbsp; Dryden 85 CLO Ltd., 5.05%, <br> 07/15/37, (3-mo. CME Term SOFR + <br> 1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2504109 |
| &nbsp;&nbsp;&nbsp; Dwight Issuer LLC, 5.32%, 06/18/42, (1-mo. <br> CME Term SOFR + 1.66%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,570 | 1572444 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| Eaton Vance CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 10/15/37, (3-mo. CME Term <br> SOFR + 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD822 | $823682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 07/15/37, (3-mo. CME Term <br> SOFR + 1.51%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,350 | 1351492 |
| ECARAT DE SA Compartment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.74%, 02/25/37, (1-mo. EURIBOR + <br> 0.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | 234747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 02/25/37, (1-mo. EURIBOR + <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117466 |
| ECARAT DE SA Compartment Lease |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.19%, 05/25/34, (1-mo. EURIBOR + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | 235383 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.94%, 05/25/34, (1-mo. EURIBOR + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR500 | 588227 |
| E-Carat U.K. PLC |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 01/26/34<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; GBP375 | 510281 |
| &nbsp;&nbsp;&nbsp; 0.00%, 01/26/34<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; GBP168 | 228606 |
| &nbsp;&nbsp;&nbsp; 0.00%, 01/26/34<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; GBP133 | 180980 |
| &nbsp;&nbsp;&nbsp; 0.00%, 01/26/34<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; GBP410 | 557907 |
| Edenbrook Mortgage Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 03/22/57, (1-day SONIA+ <br> 1.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP144 | 197951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 03/22/57, (1-day SONIA+ <br> 2.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP99 | 137504 |
| &nbsp;&nbsp;&nbsp; Edgeconnex Data Centers Europe BV, <br> 4.50%, 04/30/56<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,230 | 4897020 |
| &nbsp;&nbsp;&nbsp; EDvestinU Private Education Loan Issue <br> No. 1 LLC, 3.58%, 11/25/38<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD32 | 31391 |
| Elevation CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 10/20/31, (3-mo. CME Term <br> SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,826 | 1819164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 07/25/38, (3-mo. CME Term <br> SOFR + 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,500 | 3505140 |
| ELFI Graduate Loan Program LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.51%, 08/26/47<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | 97452 |
| &nbsp;&nbsp;&nbsp; 6.37%, 02/04/48<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD275 | 282332 |
| &nbsp;&nbsp;&nbsp; 5.56%, 08/25/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,262 | 4279767 |
| &nbsp;&nbsp;&nbsp; Elm Park CLO DAC, 5.40%, <br> 01/15/38, (3-mo. EURIBOR + 3.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,729 | 3182182 |
| Elmwood CLO 29 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/20/37, (3-mo. CME Term <br> SOFR + 1.52%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,145 | 2147312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.08%, 04/20/37, (3-mo. CME Term <br> SOFR + 6.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1463325 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO 40 Ltd., 4.92%, <br> 03/22/38, (3-mo. CME Term SOFR + <br> 1.24%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3004450 |
| Elmwood CLO 41 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.68%, 07/17/38, (3-mo. CME Term <br> SOFR + 6.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3005192 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 07/17/38, (3-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2005313 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO I Ltd., 4.80%, <br> 04/20/37, (3-mo. CME Term SOFR + <br> 1.12%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,685 | 4680958 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO III Ltd., 5.06%, <br> 07/18/37, (3-mo. CME Term SOFR + <br> 1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,500 | 9511849 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO VII Ltd., 5.04%, <br> 10/17/37, (3-mo. CME Term SOFR + <br> 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001941 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO XI Ltd., 6.38%, <br> 01/20/38, (3-mo. CME Term SOFR + <br> 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1000387 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Elmwood European CLO 1, 5.43%, <br> 04/16/40, (3-mo. EURIBOR + 2.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | $118193 |
| Empower CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 10/15/38, (3-mo. CME Term <br> SOFR + 1.32%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5012231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 04/25/37, (3-mo. CME Term <br> SOFR + 1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,545 | 1545000 |
| &nbsp;&nbsp;&nbsp; Equity One Mortgage Pass-Through Trust, <br> 5.46%, 12/25/33<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD517 | 469631 |
| &nbsp;&nbsp;&nbsp; FACT SA, 3.05%, 09/22/31, (1-mo. <br> EURIBOR + 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR300 | 352291 |
| &nbsp;&nbsp;&nbsp; Fair Oaks Loan Funding III DAC, 5.20%, <br> 10/15/34, (3-mo. EURIBOR + 3.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,160 | 1360403 |
| FCT Noria |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.09%, 07/25/43, (1-mo. EURIBOR + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.34%, 07/25/43, (1-mo. EURIBOR + <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117293 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 07/25/43, (1-mo. EURIBOR + <br> 2.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117699 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.84%, 07/25/43, (1-mo. EURIBOR + <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR300 | 351277 |
| Fidelity Grand Harbour CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 10/15/34, (3-mo. EURIBOR + <br> 3.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1177101 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 02/15/38, (3-mo. EURIBOR + <br> 2.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,040 | 2368402 |
| FIGRE Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.06%, 09/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,351 | 5354578 |
| &nbsp;&nbsp;&nbsp; 5.83%, 01/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,435 | 4471177 |
| &nbsp;&nbsp;&nbsp; 5.15%, 11/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,022 | 8987932 |
| &nbsp;&nbsp;&nbsp; 4.98%, 01/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,644 | 4602962 |
| &nbsp;&nbsp;&nbsp; 5.18%, 01/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,201 | 1190396 |
| &nbsp;&nbsp;&nbsp; 5.05%, 01/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,909 | 6854103 |
| &nbsp;&nbsp;&nbsp; Finance Ireland Auto Receivables No. 2 <br> DAC, 2.84%, 11/14/34, (1-mo. EURIBOR <br> + 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR182 | 213380 |
| &nbsp;&nbsp;&nbsp; First Mobility SARL - Compartment Swiss <br> Lease, 2.90%, 10/14/32<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR300 | 351744 |
| FirstKey Homes Trust, 5.00%, 05/19/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD500 | 493148 |
| &nbsp;&nbsp;&nbsp; Flatiron CLO 19 Ltd., 5.55%, <br> 11/16/34, (3-mo. CME Term SOFR + <br> 1.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250052 |
| &nbsp;&nbsp;&nbsp; Flatiron CLO 20 Ltd., 4.90%, <br> 11/20/38, (3-mo. CME Term SOFR + <br> 1.24%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 4008257 |
| &nbsp;&nbsp;&nbsp; Flatiron CLO 21 Ltd., 5.04%, <br> 10/19/37, (3-mo. CME Term SOFR + <br> 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250486 |
| &nbsp;&nbsp;&nbsp; Flatiron CLO 23 LLC, 4.92%, <br> 04/17/36, (3-mo. CME Term SOFR + <br> 1.24%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,420 | 2421401 |
| &nbsp;&nbsp;&nbsp; Flatiron CLO 25 Ltd., 8.93%, <br> 10/17/37, (3-mo. CME Term SOFR + <br> 5.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD780 | 767038 |
| &nbsp;&nbsp;&nbsp; Flatiron CLO 28 Ltd., 4.75%, <br> 07/15/36, (3-mo. CME Term SOFR + <br> 1.08%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1000054 |
| &nbsp;&nbsp;&nbsp; Flatiron CLO Ltd., 5.94%, 01/15/39, (3-mo. <br> CME Term SOFR + 2.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 995561 |
| Fondo de Titulizacion Santander Consumo 9 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.03%, 10/25/40, (3-mo. EURIBOR + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR400 | 469443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.43%, 10/25/40, (3-mo. EURIBOR + <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | 234831 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 10/25/40, (3-mo. EURIBOR + <br> 4.87%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,080 | $1268929 |
| &nbsp;&nbsp;&nbsp; Ford Credit Auto Owner Trust, 5.27%, <br> 05/17/27<br>| &nbsp;&nbsp;&nbsp; USD6 | 6283 |
| Fortuna Consumer Loan Abs DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 10/18/35, (1-mo. EURIBOR + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/18/35, (1-mo. EURIBOR + <br> 2.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 10/18/35, (1-mo. EURIBOR + <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 10/18/37, (1-mo. EURIBOR + <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR600 | 704691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 10/18/37, (1-mo. EURIBOR + <br> 3.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,800 | 2115865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.98%, 10/18/37, (1-mo. EURIBOR + <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2354219 |
| Fortuna Consumer Loan ABS DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.67%, 10/18/34, (1-mo. EURIBOR + <br> 0.72%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,584 | 1863506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/18/34, (1-mo. EURIBOR + <br> 1.30%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR207 | 243232 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 10/18/34, (1-mo. EURIBOR + <br> 1.65%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR69 | 81135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.05%, 10/18/34, (1-mo. EURIBOR + <br> 4.10%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR207 | 246475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 04/18/35, (1-mo. EURIBOR + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR600 | 704181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 04/18/35, (1-mo. EURIBOR + <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | 234988 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.70%, 04/18/35, (1-mo. EURIBOR + <br> 0.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,300 | 3879156 |
| Foundation Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.19%, 01/15/42<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD246 | 234674 |
| &nbsp;&nbsp;&nbsp; 6.53%, 06/15/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,505 | 1555445 |
| &nbsp;&nbsp;&nbsp; 4.60%, 03/15/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,612 | 2595954 |
| &nbsp;&nbsp;&nbsp; 4.93%, 03/15/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,630 | 3620494 |
| &nbsp;&nbsp;&nbsp; 4.95%, 04/15/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,718 | 2716620 |
| &nbsp;&nbsp;&nbsp; 5.67%, 12/15/43<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,403 | 2444690 |
| &nbsp;&nbsp;&nbsp; 5.68%, 04/15/52<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD501 | 497840 |
| &nbsp;&nbsp;&nbsp; 4.56%, 08/15/52<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,012 | 5952020 |
| &nbsp;&nbsp;&nbsp; 4.87%, 08/15/52<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,443 | 2416497 |
| &nbsp;&nbsp;&nbsp; 5.07%, 08/15/52<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,703 | 4652705 |
| FS Rialto Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 10/19/39, (1-mo. CME Term <br> SOFR + 1.63%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 4001759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 08/19/42, (1-mo. CME Term <br> SOFR + 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,370 | 7349215 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 01/19/44, (1-mo. CME Term <br> SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,038 | 7029606 |
| &nbsp;&nbsp;&nbsp; FT Santander Consumer Spain Auto, 3.35%, <br> 09/17/43, (3-mo. EURIBOR + 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR94 | 110553 |
| FTA Consumo Santander |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.68%, 07/20/38, (3-mo. EURIBOR + <br> 1.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR113 | 133402 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.33%, 07/20/38, (3-mo. EURIBOR + <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR113 | 133502 |
| Fulvia Spv Srl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.26%, 12/23/41, (3-mo. EURIBOR + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR91 | 107173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.81%, 12/23/41, (3-mo. EURIBOR + <br> 0.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR655 | 768998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.01%, 12/23/41, (3-mo. EURIBOR + <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR369 | 432166 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Galaxy 34 CLO Ltd., 5.58%, <br> 10/20/37, (3-mo. CME Term SOFR + <br> 1.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | $2004959 |
| &nbsp;&nbsp;&nbsp; GAMMA Sociedade de Titularizacao de <br> Creditos, 2.93%, 02/25/34, (3-mo. <br> EURIBOR + 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR587 | 692299 |
| &nbsp;&nbsp;&nbsp; GAMMA Sociedade de Titularizacao de <br> Creditos SA Consumer Totta 3<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.53%, 10/25/35, (3-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR167 | 195600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.68%, 10/25/35, (3-mo. EURIBOR + <br> 2.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR167 | 195604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 10/25/35, (3-mo. EURIBOR + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR250 | 294529 |
| Golden Bar Securitisation SRL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.61%, 09/22/43, (3-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR133 | 157103 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.12%, 12/20/44, (3-mo. EURIBOR + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR435 | 510923 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.37%, 12/20/44, (3-mo. EURIBOR + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR150 | 176451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.02%, 12/20/44, (3-mo. EURIBOR + <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR91 | 107376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.72%, 12/22/44, (3-mo. EURIBOR + <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR193 | 227481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.32%, 12/22/44, (3-mo. EURIBOR + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR223 | 262148 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.02%, 12/22/44, (3-mo. EURIBOR + <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR269 | 315260 |
| Golden Ray SA - Compartment 1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.75%, 12/27/57, (1-mo. EURIBOR + <br> 0.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR573 | 672086 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 12/27/57, (1-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 116777 |
| Golden Ray SA Compartment 2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.45%, 12/27/58, (1-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | 235386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.89%, 12/27/58, (1-mo. EURIBOR + <br> 0.94%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,629 | 4272278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.05%, 12/27/58, (1-mo. EURIBOR + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR500 | 586507 |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management U.S. CLO 10<br> Ltd., 6.78%, 10/20/37, (3-mo. CME Term <br> SOFR + 3.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 752511 |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management U.S. CLO 11<br> Ltd., 8.58%, 10/20/34, (3-mo. CME Term <br> SOFR + 4.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD950 | 932900 |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management U.S. CLO 20<br> Ltd., 5.13%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD722 | 723049 |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management U.S. CLO 22<br> Ltd., 5.58%, 10/20/37, (3-mo. CME Term <br> SOFR + 1.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004919 |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management U.S. CLO 23<br> Ltd., 4.95%, 01/20/39, (3-mo. CME Term <br> SOFR + 1.27%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 4009193 |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management U.S. CLO 24<br> Ltd., 4.83%, 10/20/38, (3-mo. CME Term <br> SOFR + 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 1998112 |
| &nbsp;&nbsp;&nbsp; GoldenTree Loan Management U.S. CLO 25<br> Ltd., 5.00%, 04/20/37, (3-mo. CME Term <br> SOFR + 1.32%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3007251 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Goldentree Loan Management U.S. CLO 26<br> Ltd.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.43%, 07/20/38, (3-mo. CME Term <br> SOFR + 2.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | $2513562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.58%, 07/20/38, (3-mo. CME Term <br> SOFR + 3.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1006655 |
| &nbsp;&nbsp;&nbsp; Goldman Home Improvement Trust <br> Issuer Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.80%, 10/25/52<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,825 | 4925942 |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/25/52<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,795 | 1791575 |
| &nbsp;&nbsp;&nbsp; Golub Capital CLO 84B Ltd., 5.51%, <br> 01/20/39, (3-mo. CME Term SOFR + <br> 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,400 | 1401489 |
| &nbsp;&nbsp;&nbsp; Golub Capital CLO 87B Ltd., 6.05%, <br> 04/20/39, (3-mo. CME Term SOFR + <br> 2.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1493258 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners 48 LP, 4.99%, <br> 04/17/38, (3-mo. CME Term SOFR + <br> 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2506038 |
| Golub Capital Partners CLO 19B-R3 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.48%, 10/20/36, (3-mo. CME Term <br> SOFR + 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3003315 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 10/20/36, (3-mo. CME Term <br> SOFR + 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 999221 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 41B-R Ltd., <br> 6.63%, 07/20/38, (3-mo. CME Term <br> SOFR + 2.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3004824 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 43B Ltd., <br> 5.02%, 10/20/37, (3-mo. CME Term <br> SOFR + 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3007094 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 60B Ltd., <br> 4.98%, 10/25/34, (3-mo. CME Term <br> SOFR + 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD600 | 600554 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 64B Ltd., <br> 6.72%, 10/25/37, (3-mo. CME Term <br> SOFR + 3.05%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 987311 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 66B Ltd., <br> 5.12%, 07/25/38, (3-mo. CME Term <br> SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2002847 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 69M, 5.42%, <br> 10/25/37, (3-mo. CME Term SOFR + <br> 1.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,200 | 2200608 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 72 B Ltd., <br> 5.42%, 04/25/37<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,500 | 3500000 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 74 B Ltd., <br> 6.87%, 07/25/37, (3-mo. CME Term <br> SOFR + 3.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD320 | 320727 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 76 B Ltd., <br> 5.04%, 10/25/37, (3-mo. CME Term <br> SOFR + 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,030 | 3035690 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 77 B Ltd., <br> 5.47%, 01/25/38, (3-mo. CME Term <br> SOFR + 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,800 | 2791668 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 81 B Ltd., <br> 4.99%, 07/20/38, (3-mo. CME Term <br> SOFR + 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004780 |
| &nbsp;&nbsp;&nbsp; Golub Capital Private Credit Fund CLO 2,<br> 5.15%, 10/18/39, (3-mo. CME Term <br> SOFR + 1.47%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | 497066 |
| &nbsp;&nbsp;&nbsp; GoodLeap Home Improvement <br> Solutions Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.35%, 10/20/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,700 | 3720327 |
| &nbsp;&nbsp;&nbsp; 5.38%, 02/20/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,338 | 6358666 |
| &nbsp;&nbsp;&nbsp; 5.32%, 06/20/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,824 | 3836562 |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/20/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,153 | 9091165 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Green Lakes Park CLO LLC, 4.85%, <br> 01/25/38, (3-mo. CME Term SOFR + <br> 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | $5001443 |
| GreenSky Home Improvement Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.15%, 10/27/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD547 | 548880 |
| &nbsp;&nbsp;&nbsp; 6.43%, 10/27/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,475 | 3509412 |
| &nbsp;&nbsp;&nbsp; 5.26%, 10/27/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,798 | 4807038 |
| &nbsp;&nbsp;&nbsp; 5.22%, 03/25/60<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD509 | 511071 |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/27/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD418 | 419133 |
| &nbsp;&nbsp;&nbsp; 5.26%, 06/25/60<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD690 | 687851 |
| &nbsp;&nbsp;&nbsp; 5.56%, 06/25/60<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD547 | 544375 |
| &nbsp;&nbsp;&nbsp; 7.79%, 06/25/60<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD540 | 547528 |
| &nbsp;&nbsp;&nbsp; 4.52%, 12/27/60<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,321 | 3311303 |
| GreenSky Home Improvement Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.67%, 06/25/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD592 | 599569 |
| &nbsp;&nbsp;&nbsp; 5.87%, 06/25/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,543 | 1561031 |
| Greystone CRE Notes LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 01/15/43, (1-mo. CME Term <br> SOFR + 1.48%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,069 | 4073761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 10/15/42, (1-mo. CME Term <br> SOFR + 1.78%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,000 | 8001095 |
| &nbsp;&nbsp;&nbsp; Greywolf CLO II Ltd., 5.53%, <br> 04/15/34, (3-mo. CME Term SOFR + <br> 1.86%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,450 | 7463985 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.90%, 05/25/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,192 | 6138941 |
| &nbsp;&nbsp;&nbsp; 5.27%, 05/25/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,411 | 1399508 |
| &nbsp;&nbsp;&nbsp; GSAMP Trust, 4.24%, 06/25/36, (1-mo. <br> CME Term SOFR + 0.56%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,350 | 1173602 |
| &nbsp;&nbsp;&nbsp; GT Loan Financing I Ltd., 5.08%, <br> 04/28/39, (3-mo. CME Term SOFR + <br> 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,250 | 4257007 |
| &nbsp;&nbsp;&nbsp; HalseyPoint CLO 3 Ltd., 7.97%, <br> 07/30/37, (3-mo. CME Term SOFR + <br> 4.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,340 | 1347284 |
| &nbsp;&nbsp;&nbsp; HalseyPoint CLO 4 Ltd., 5.16%, <br> 04/20/34, (3-mo. CME Term SOFR + <br> 1.48%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD900 | 900521 |
| &nbsp;&nbsp;&nbsp; Halseypoint CLO 5 Ltd., 5.14%, <br> 01/30/35, (3-mo. CME Term SOFR + <br> 1.47%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD700 | 700352 |
| &nbsp;&nbsp;&nbsp; Halseypoint CLO 6 Ltd., 5.03%, <br> 01/20/38, (3-mo. CME Term SOFR + <br> 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,100 | 1102669 |
| &nbsp;&nbsp;&nbsp; Halseypoint CLO II Ltd., 5.63%, <br> 07/20/37, (3-mo. CME Term SOFR + <br> 1.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 4008831 |
| &nbsp;&nbsp;&nbsp; Hambridge Euro Clo 1 DAC, 5.54%, <br> 10/20/38, (3-mo. EURIBOR + 3.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,440 | 1705287 |
| &nbsp;&nbsp;&nbsp; Harriman Park CLO Ltd., 4.98%, <br> 07/20/38, (3-mo. CME Term SOFR + <br> 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,150 | 1153007 |
| &nbsp;&nbsp;&nbsp; Henley CLO IV DAC, 4.98%, <br> 07/25/38, (3-mo. EURIBOR + 3.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1179227 |
| &nbsp;&nbsp;&nbsp; Henley CLO XI DAC, 4.63%, <br> 04/25/39, (3-mo. EURIBOR + 2.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,280 | 2651250 |
| &nbsp;&nbsp;&nbsp; Henley CLO XII DAC, 5.30%, <br> 01/15/38, (3-mo. EURIBOR + 3.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR850 | 1002503 |
| &nbsp;&nbsp;&nbsp; Henley CLO XVII DAC0.00% <br> 07/25/39, (3-mo. EURIBOR + <br> 3.050%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,792 | 2103180 |
| Hermitage PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 04/21/33, (1-day SONIA+ <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP118 | 160467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 04/21/33, (1-day SONIA+ <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP353 | 481341 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.64%, 04/21/33, (1-day SONIA+ <br> 3.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP39 | $54006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 04/21/33, (1-day SONIA+ <br> 2.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP39 | 53635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 04/21/33, (1-day SONIA+ <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP39 | 53439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 04/21/33, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP102 | 138274 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.94%, 04/21/33, (1-day SONIA+ <br> 3.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP96 | 132708 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 04/21/33, (1-day SONIA+ <br> 1.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP96 | 130960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 04/21/33, (1-day SONIA+ <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP289 | 392345 |
| Hill FL BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.72%, 10/18/32, (1-mo. EURIBOR + <br> 0.72%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR961 | 1127304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.95%, 10/18/32, (1-mo. EURIBOR + <br> 1.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR77 | 89479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.25%, 10/18/32, (1-mo. EURIBOR + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,106 | 1300867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 10/18/32, (1-mo. EURIBOR + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR842 | 988726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 10/18/32, (1-mo. EURIBOR + <br> 2.64%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,877 | 2210278 |
| HIVE 2025-1 BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 11/21/45, (1-mo. EURIBOR + <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR593 | 697541 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 11/21/45, (1-mo. EURIBOR + <br> 0.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,547 | 8868719 |
| &nbsp;&nbsp;&nbsp; Honey Hill Park CLO Ltd., 4.87%, <br> 04/24/39, (3-mo. CME Term SOFR + <br> 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,975 | 7970863 |
| &nbsp;&nbsp;&nbsp; Household Capital 2025-1 RMBS, 6.23%, <br> 07/21/87, (3-month BB Swap + <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD516 | 369547 |
| Huntington Bank Auto Credit-Linked Notes |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 05/20/32, (30-day Avg SOFR + <br> 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD437 | 438493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 10/20/32, (30-day Avg SOFR + <br> 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD871 | 871998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 09/20/33, (30-day Avg SOFR + <br> 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,635 | 1639103 |
| &nbsp;&nbsp;&nbsp; ICG U.S. CLO Ltd., 6.82%, 07/25/38, (3-mo. <br> CME Term SOFR + 3.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2008642 |
| &nbsp;&nbsp;&nbsp; Incref LLC, 5.39%, 10/19/42, (1-mo. CME <br> Term SOFR + 1.73%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,695 | 8707929 |
| Invesco U.S. CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.48%, 04/20/35, (3-mo. CME Term <br> SOFR + 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD819 | 821725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.58%, 10/15/38, (3-mo. CME Term <br> SOFR + 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3017309 |
| Iskandar Enterprise LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.34%, 04/17/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,409 | 4407622 |
| &nbsp;&nbsp;&nbsp; 5.54%, 04/17/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,335 | 6335000 |
| &nbsp;&nbsp;&nbsp; Italian Stella Loans SRL, 3.35%, <br> 05/27/39, (1-mo. EURIBOR + 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR80 | 93973 |
| &nbsp;&nbsp;&nbsp; Jersey Mike's Funding LLC, 5.48%, <br> 02/15/56<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD14,674 | 14460656 |
| &nbsp;&nbsp;&nbsp; Jubilee CLO DAC, 5.40%, 01/15/39, (3-mo. <br> EURIBOR + 3.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,420 | 1668024 |
| &nbsp;&nbsp;&nbsp; Kennedy Lewis CLO 12 Ltd., 5.01%, <br> 07/20/38, (3-mo. CME Term SOFR + <br> 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5011503 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Kennedy Lewis CLO 13 Ltd., 4.82%, <br> 01/20/38, (3-mo. CME Term SOFR + <br> 1.14%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD18,200 | $18187080 |
| &nbsp;&nbsp;&nbsp; Kennedy Lewis CLO 17 Ltd., 5.06%, <br> 10/22/37, (3-mo. CME Term SOFR + <br> 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002130 |
| &nbsp;&nbsp;&nbsp; Kennedy Lewis CLO 2 Ltd., 4.76%, <br> 10/22/37, (3-mo. CME Term SOFR + <br> 1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,050 | 1050011 |
| &nbsp;&nbsp;&nbsp; Kennedy Lewis CLO 20 Ltd., 4.97%, <br> 01/25/38, (3-mo. CME Term SOFR + <br> 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,615 | 1618848 |
| &nbsp;&nbsp;&nbsp; Kennedy Lewis CLO 4 Ltd., 5.11%, <br> 07/20/37, (3-mo. CME Term SOFR + <br> 1.43%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,125 | 8134495 |
| &nbsp;&nbsp;&nbsp; Kennedy Lewis CLO 7 Ltd., 5.28%, <br> 04/22/37, (3-mo. CME Term SOFR + <br> 1.62%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | 500773 |
| &nbsp;&nbsp;&nbsp; Kennedy Lewis CLO 9 Ltd., 5.03%, <br> 01/20/38, (3-mo. CME Term SOFR + <br> 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 4009782 |
| &nbsp;&nbsp;&nbsp; KKR CLO 21 Ltd., 5.33%, 04/15/31, (3-mo. <br> CME Term SOFR + 1.66%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,172 | 1171917 |
| &nbsp;&nbsp;&nbsp; KKR CLO 25 Ltd., 5.25%, 07/15/34, (3-mo. <br> CME Term SOFR + 1.58%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,300 | 1302519 |
| &nbsp;&nbsp;&nbsp; KKR CLO 27 Ltd., 4.78%, 01/15/35, (3-mo. <br> CME Term SOFR + 1.11%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,667 | 1666839 |
| &nbsp;&nbsp;&nbsp; KKR CLO 28 Ltd., 4.80%, 02/09/35, (3-mo. <br> CME Term SOFR + 1.12%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5001675 |
| &nbsp;&nbsp;&nbsp; KKR CLO 30 Ltd., 5.53%, 04/17/37, (3-mo. <br> CME Term SOFR + 1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,500 | 3502024 |
| &nbsp;&nbsp;&nbsp; KKR CLO 35 Ltd., 4.88%, 01/20/38, (3-mo. <br> CME Term SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2501227 |
| &nbsp;&nbsp;&nbsp; KKR CLO 54 Ltd., 4.99%, 01/15/38, (3-mo. <br> CME Term SOFR + 1.32%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004879 |
| &nbsp;&nbsp;&nbsp; KKR CLO 59 Ltd., 4.92%, 01/15/39, (3-mo. <br> CME Term SOFR + 1.24%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,250 | 3254507 |
| &nbsp;&nbsp;&nbsp; KKR Financial CLO Ltd., 4.92%, <br> 10/15/38, (3-mo. CME Term SOFR + <br> 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002469 |
| Latitude Australia Credit Card Master Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 11/23/37, (1-month BB Swap + <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD500 | 359953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 11/23/37, (1-month BB Swap + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD2,663 | 1919394 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 09/22/38, (1-month BB Swap + <br> 1.07%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD5,568 | 4003271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/22/38, (1-month BB Swap + <br> 1.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD2,009 | 1442229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, 09/22/38, (1-month BB Swap + <br> 1.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD639 | 458024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 09/22/38, (1-month BB Swap + <br> 1.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,501 | 1077555 |
| &nbsp;&nbsp;&nbsp; LCM 29 Ltd., 5.53%, 04/15/31, (3-mo. CME <br> Term SOFR + 1.86%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,420 | 1423823 |
| &nbsp;&nbsp;&nbsp; LCM 32 Ltd., 5.64%, 07/20/34, (3-mo. CME <br> Term SOFR + 1.96%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,250 | 1252559 |
| LendingClub Rated Notes Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.01%, 03/15/45<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD80 | 202186 |
| &nbsp;&nbsp;&nbsp; 5.20%, 02/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,111 | 4125800 |
| &nbsp;&nbsp;&nbsp; 5.59%, 04/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD284 | 283452 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD572 | 570439 |
| &nbsp;&nbsp;&nbsp; 6.47%, 12/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD229 | 227961 |
| &nbsp;&nbsp;&nbsp; 8.99%, 07/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD367 | 365278 |
| &nbsp;&nbsp;&nbsp; 13.02%, 01/15/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD183 | 182338 |
| &nbsp;&nbsp;&nbsp; 0.01%, 03/15/41<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD40 | 13039 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; 6.98%, 08/15/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,920 | $1984269 |
| &nbsp;&nbsp;&nbsp; 6.86%, 08/15/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD458 | 467617 |
| &nbsp;&nbsp;&nbsp; 2.40%, 08/15/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD476 | 451652 |
| &nbsp;&nbsp;&nbsp; 1.15%, 08/15/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD467 | 433545 |
| &nbsp;&nbsp;&nbsp; 1.00%, 08/15/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD208 | 186146 |
| &nbsp;&nbsp;&nbsp; 0.90%, 08/15/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD189 | 161143 |
| &nbsp;&nbsp;&nbsp; LendingClub Structured Loan Certificate <br> Issuer Trust, 5.19%, 12/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,825 | 5819529 |
| Lendmark Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.90%, 11/20/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,325 | 1301035 |
| &nbsp;&nbsp;&nbsp; 3.41%, 11/20/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD710 | 677468 |
| &nbsp;&nbsp;&nbsp; 5.53%, 06/21/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,407 | 6453918 |
| &nbsp;&nbsp;&nbsp; 6.40%, 06/21/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,957 | 1977065 |
| &nbsp;&nbsp;&nbsp; 7.21%, 06/21/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,241 | 5308328 |
| &nbsp;&nbsp;&nbsp; 3.09%, 04/20/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD945 | 889035 |
| &nbsp;&nbsp;&nbsp; 4.47%, 02/21/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,850 | 1845169 |
| &nbsp;&nbsp;&nbsp; 5.25%, 02/21/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,153 | 2154884 |
| &nbsp;&nbsp;&nbsp; 4.94%, 09/20/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,295 | 3309808 |
| &nbsp;&nbsp;&nbsp; 5.33%, 09/20/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,895 | 5934182 |
| &nbsp;&nbsp;&nbsp; 4.51%, 05/21/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,352 | 6294154 |
| &nbsp;&nbsp;&nbsp; 4.83%, 05/21/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,083 | 1070094 |
| &nbsp;&nbsp;&nbsp; 5.04%, 05/21/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD305 | 301018 |
| &nbsp;&nbsp;&nbsp; 4.80%, 11/20/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,668 | 3667297 |
| &nbsp;&nbsp;&nbsp; 5.40%, 11/20/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD561 | 560814 |
| &nbsp;&nbsp;&nbsp; Liberty Series, 5.25%, 05/25/32, (1-month <br> BB Swap + 1.20%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD184 | 132482 |
| &nbsp;&nbsp;&nbsp; LoanCore, 5.05%, 08/17/42, (1-mo. CME <br> Term SOFR + 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,050 | 9051300 |
| &nbsp;&nbsp;&nbsp; LoanCore Issuer LLC, 5.11%, <br> 08/18/42, (1-mo. CME Term SOFR + <br> 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,143 | 11122305 |
| London Cards No. 3 PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 12/15/35, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,077 | 1466288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 12/15/35, (1-day SONIA+ <br> 2.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,030 | 1400375 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 12/15/35, (1-day SONIA+ <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,544 | 2105187 |
| &nbsp;&nbsp;&nbsp; Long Beach Mortgage Loan Trust, 4.15%, <br> 03/25/46, (1-mo. CME Term SOFR + <br> 0.47%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD104 | 91207 |
| &nbsp;&nbsp;&nbsp; LT Rahoitus DAC, 2.90%, 07/18/36, (1-mo. <br> EURIBOR + 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | 234645 |
| Lyra Music Assets Delaware LP |  |  |
| &nbsp;&nbsp;&nbsp; 5.76%, 12/22/64<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,115 | 2127854 |
| &nbsp;&nbsp;&nbsp; 5.60%, 09/20/65<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,311 | 1318205 |
| M&T Bank RV Trust, 4.35%, 01/15/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,091 | 3046913 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding LIX Ltd., 5.18%, <br> 04/18/37, (3-mo. CME Term SOFR + <br> 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,000 | 6011164 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding LXI Ltd., 4.90%, <br> 01/20/39, (3-mo. CME Term SOFR + <br> 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,300 | 1301338 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding LXV Ltd., 4.98%, <br> 07/16/38, (3-mo. CME Term SOFR + <br> 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,000 | 6014309 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding LXVII Ltd., 5.18%, <br> 04/25/37, (3-mo. CME Term SOFR + <br> 1.51%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,685 | 4689558 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding LXXI Ltd., 4.81%, <br> 04/23/38, (3-mo. CME Term SOFR + <br> 1.14%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,515 | 11502378 |
| Madison Park Funding XIV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.56%, 10/22/30, (3-mo. CME Term <br> SOFR + 2.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3020231 |
| &nbsp;&nbsp;&nbsp; 5.16%, 10/22/30<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,130 | 1129806 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| Madison Park Funding XL-R Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 10/16/38, (3-mo. CME Term <br> SOFR + 1.29%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | $4008992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/16/38, (3-mo. CME Term <br> SOFR + 2.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,500 | 3507749 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding XXIV Ltd., 6.63%, <br> 10/20/29, (3-mo. CME Term SOFR + <br> 2.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD850 | 853227 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding XXIX Ltd., 4.86%, <br> 03/25/38, (3-mo. CME Term SOFR + <br> 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,250 | 3249976 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding XXX Ltd., 5.04%, <br> 07/16/37, (3-mo. CME Term SOFR + <br> 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,375 | 1377802 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding XXXI Ltd., 5.47%, <br> 07/23/37, (3-mo. CME Term SOFR + <br> 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1003827 |
| Madison Park Funding XXXIII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 10/15/32, (3-mo. CME Term <br> SOFR + 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD475 | 475877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 10/15/32, (3-mo. CME Term <br> SOFR + 1.29%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,145 | 4145008 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding XXXIV Ltd., 7.03%, <br> 10/16/37, (3-mo. CME Term SOFR + <br> 3.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1467483 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding XXXV Ltd., 4.80%, <br> 02/13/39, (3-mo. CME Term SOFR + <br> 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,250 | 10255122 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding XXXVI Ltd., 4.73%, <br> 04/15/35, (3-mo. CME Term SOFR + <br> 1.06%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 249965 |
| Madison Park Funding XXXVII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.42%, 04/15/37, (3-mo. CME Term <br> SOFR + 3.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | 493404 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.27%, 04/15/37, (3-mo. CME Term <br> SOFR + 2.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1501742 |
| &nbsp;&nbsp;&nbsp; Marble Point CLO XV Ltd., 5.27%, <br> 07/23/32, (3-mo. CME Term SOFR + <br> 1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3000685 |
| &nbsp;&nbsp;&nbsp; Marble Point CLO XVII Ltd., 5.12%, <br> 07/20/37, (3-mo. CME Term SOFR + <br> 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,500 | 3504220 |
| Mariner Finance Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.33%, 03/20/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD350 | 338332 |
| &nbsp;&nbsp;&nbsp; 2.10%, 11/20/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,745 | 5610598 |
| &nbsp;&nbsp;&nbsp; 3.42%, 11/20/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,177 | 1119849 |
| &nbsp;&nbsp;&nbsp; 1.86%, 03/20/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD410 | 403915 |
| &nbsp;&nbsp;&nbsp; 5.13%, 09/22/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,600 | 1611367 |
| &nbsp;&nbsp;&nbsp; 6.77%, 09/22/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,592 | 1615861 |
| &nbsp;&nbsp;&nbsp; 5.73%, 11/20/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,340 | 2361397 |
| &nbsp;&nbsp;&nbsp; 6.36%, 11/20/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,102 | 2127968 |
| &nbsp;&nbsp;&nbsp; 4.98%, 05/20/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,732 | 5764265 |
| &nbsp;&nbsp;&nbsp; 5.33%, 05/20/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,074 | 2086599 |
| &nbsp;&nbsp;&nbsp; 5.69%, 05/20/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,834 | 2853963 |
| &nbsp;&nbsp;&nbsp; 4.59%, 11/22/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,113 | 5088077 |
| &nbsp;&nbsp;&nbsp; Menlo CLO IV Ltd., 4.89%, 03/20/39, (3-mo. <br> CME Term SOFR + 1.21%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2000622 |
| Metro Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 10/15/31, (1-month BB Swap + <br> 1.17%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD3,891 | 2807340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 10/15/31, (1-month BB Swap + <br> 1.55%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD510 | 367905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 02/16/33, (1-month BB Swap + <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD570 | 409387 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| MF1 LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 03/19/39, (1-mo. CME Term <br> SOFR + 1.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,112 | $8119024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/18/42, (1-mo. CME Term <br> SOFR + 1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,617 | 8633804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 02/18/43, (1-mo. CME Term <br> SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,159 | 10178283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 02/18/41, (1-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD14,900 | 14875701 |
| MFA Trust, 6.33%, 09/25/54<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,548 | 1550249 |
| &nbsp;&nbsp;&nbsp; MidOcean Credit CLO XII Ltd., 5.02%, <br> 07/18/38, (3-mo. CME Term SOFR + <br> 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2504808 |
| &nbsp;&nbsp;&nbsp; MidOcean Credit CLO XIX, 5.13%, <br> 07/20/36, (3-mo. CME Term SOFR + <br> 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001359 |
| Midocean Credit CLO XV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.97%, 07/21/37, (3-mo. CME Term <br> SOFR + 2.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.02%, 07/21/37, (3-mo. CME Term <br> SOFR + 3.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1004070 |
| &nbsp;&nbsp;&nbsp; Midocean Credit CLO XXI, 4.94%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,700 | 2705780 |
| Mila BV |  |  |
| &nbsp;&nbsp;&nbsp; 2.67%, 09/16/41<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; EUR280 | 328690 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.93%, 09/16/41, (1-mo. EURIBOR + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR69 | 81070 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.09%, 10/12/42, (1-mo. EURIBOR + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.34%, 10/12/42, (1-mo. EURIBOR + <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 116702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.84%, 10/12/42, (1-mo. EURIBOR + <br> 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117345 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 10/12/42, (1-mo. EURIBOR + <br> 2.72%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR300 | 351015 |
| &nbsp;&nbsp;&nbsp; MMAF Equipment Finance LLC, 5.10%, <br> 07/13/49<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,677 | 1709473 |
| &nbsp;&nbsp;&nbsp; Montgomery Square Consumer Funding 1 <br> PLC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 03/17/36, (1-day SONIA+ <br> 1.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP169 | 230048 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 03/17/36, (1-day SONIA+ <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP5,696 | 7760860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 03/17/36, (1-day SONIA+ <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP373 | 507628 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Eaton Vance CLO Ltd., <br> 5.63%, 10/20/37, (3-mo. CME Term <br> SOFR + 1.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2005929 |
| &nbsp;&nbsp;&nbsp; Morglas Abs PLC, 4.54%, 09/15/40, (1-day <br> SONIA+ 0.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,511 | 2057808 |
| Mosaic Solar Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.64%, 04/22/47<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD260 | 213668 |
| &nbsp;&nbsp;&nbsp; 4.01%, 06/22/43<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | 29440 |
| &nbsp;&nbsp;&nbsp; 6.40%, 05/20/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD105 | 104618 |
| &nbsp;&nbsp;&nbsp; 4.20%, 02/22/44<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD102 | 95157 |
| Mtp Abs Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.20%, 04/25/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,490 | 6490000 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/25/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,410 | 1416224 |
| Navient Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.53%, 07/15/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,024 | 3037914 |
| &nbsp;&nbsp;&nbsp; 5.32%, 07/15/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,259 | 1267919 |
| &nbsp;&nbsp;&nbsp; 4.86%, 09/15/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,003 | 1995303 |
| &nbsp;&nbsp;&nbsp; 5.06%, 09/15/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD583 | 579962 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Navient Private Education Loan Trust, <br> 5.22%, 07/16/40, (1-mo. CME Term <br> SOFR + 1.56%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD799 | $799711 |
| Navient Private Education Refi Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.42%, 01/15/43<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9 | 9436 |
| &nbsp;&nbsp;&nbsp; 3.13%, 02/15/68<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD659 | 654263 |
| &nbsp;&nbsp;&nbsp; 5.51%, 10/15/71<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD189 | 192832 |
| &nbsp;&nbsp;&nbsp; 0.97%, 12/16/69<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,495 | 5805729 |
| &nbsp;&nbsp;&nbsp; 1.06%, 10/15/69<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,050 | 2778342 |
| &nbsp;&nbsp;&nbsp; 3.33%, 05/15/69<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | 88478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 11/15/68, (1-mo. CME Term <br> SOFR + 1.71%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,416 | 1429077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 01/15/43, (1-mo. CME Term <br> SOFR + 1.01%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD182 | 181575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 12/15/59, (1-mo. CME Term <br> SOFR + 1.16%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,232 | 1233018 |
| &nbsp;&nbsp;&nbsp; 0.84%, 05/15/69<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD225 | 206267 |
| &nbsp;&nbsp;&nbsp; 5.66%, 10/15/72<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,740 | 1763748 |
| &nbsp;&nbsp;&nbsp; 1.33%, 04/15/69<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD606 | 555908 |
| &nbsp;&nbsp;&nbsp; 2.15%, 11/15/68<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,815 | 2717972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-IA, Class A1B, 4.77%, <br> 04/15/69, (1-mo. CME Term SOFR + <br> 1.11%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,326 | 2313354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-DA, Class A, 4.76%, <br> 04/15/60, (PRIME - 1.99%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD323 | 317614 |
| Navient Refinance Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.72%, 09/15/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,960 | 3924535 |
| &nbsp;&nbsp;&nbsp; 4.80%, 10/15/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,071 | 3047518 |
| Navient Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 03/15/72, (30-day Avg SOFR + <br> 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,123 | 1128882 |
| &nbsp;&nbsp;&nbsp; 3.39%, 12/15/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD397 | 392284 |
| Nelnet Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 04/20/62, (1-mo. CME Term <br> SOFR + 1.14%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,883 | 10887903 |
| &nbsp;&nbsp;&nbsp; 2.85%, 04/20/62<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD300 | 271088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.52%, 04/20/62, (1-mo. CME Term <br> SOFR + 0.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,485 | 2472344 |
| &nbsp;&nbsp;&nbsp; 3.36%, 04/20/62<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD664 | 585671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 04/20/62, (1-mo. CME Term <br> SOFR + 0.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD182 | 181549 |
| &nbsp;&nbsp;&nbsp; 2.90%, 04/20/62<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD500 | 450277 |
| &nbsp;&nbsp;&nbsp; 1.36%, 04/20/62<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,277 | 1217748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.91%, 11/25/53, (30-day Avg SOFR + <br> 2.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD196 | 197982 |
| &nbsp;&nbsp;&nbsp; 2.85%, 04/20/62<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,869 | 3496135 |
| &nbsp;&nbsp;&nbsp; 1.63%, 04/20/62<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,560 | 1488686 |
| &nbsp;&nbsp;&nbsp; 1.36%, 04/20/62<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD705 | 669462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 03/15/57, (30-day Avg SOFR + <br> 1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,002 | 4963760 |
| &nbsp;&nbsp;&nbsp; 5.27%, 03/15/57<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,550 | 4568427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 05/17/55, (30-day Avg SOFR + <br> 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,233 | 8216785 |
| &nbsp;&nbsp;&nbsp; 6.04%, 05/17/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD688 | 676148 |
| &nbsp;&nbsp;&nbsp; 4.98%, 05/17/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,285 | 4261453 |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/17/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,406 | 2365430 |
| &nbsp;&nbsp;&nbsp; 6.05%, 03/15/57<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,670 | 5630409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 06/22/65, (30-day Avg SOFR + <br> 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,274 | 4263776 |
| &nbsp;&nbsp;&nbsp; 5.82%, 06/22/65<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,778 | 2707979 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-A, Class A1, 4.58%, <br> 04/20/62, (1-mo. CME Term SOFR + <br> 0.91%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD312 | 311321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2021-BA, Class AFL, 4.56%, <br> 04/20/62, (1-mo. CME Term SOFR + <br> 0.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD928 | 930642 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Neuberger Berman CLO XVII Ltd., 5.06%, <br> 07/22/38, (3-mo. CME Term SOFR + <br> 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | $3004181 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman CLO XXI Ltd., 5.00%, <br> 01/20/39, (3-mo. CME Term SOFR + <br> 1.32%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,000 | 9019913 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 30<br> Ltd., 6.48%, 01/20/39, (3-mo. CME Term <br> SOFR + 2.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1000708 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 36R <br> Ltd., 6.43%, 07/20/39, (3-mo. CME Term <br> SOFR + 2.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,440 | 3445996 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 40<br> Ltd., 5.33%, 10/16/37, (3-mo. CME Term <br> SOFR + 1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5018687 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 44<br> Ltd., 6.33%, 10/16/35, (3-mo. CME Term <br> SOFR + 2.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD425 | 417621 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 46<br> Ltd., 6.33%, 01/20/37, (3-mo. CME Term <br> SOFR + 2.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,250 | 2211100 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 48<br> Ltd., 6.37%, 04/25/36, (3-mo. CME Term <br> SOFR + 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1496862 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 51<br> Ltd., 6.47%, 10/23/36, (3-mo. CME Term <br> SOFR + 2.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1496517 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 56<br> Ltd., 6.77%, 07/24/37, (3-mo. CME Term <br> SOFR + 3.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1003004 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 58<br> Ltd., 5.02%, 10/18/38, (3-mo. CME Term <br> SOFR + 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,125 | 1127132 |
| &nbsp;&nbsp;&nbsp; New Mountain CLO 2 Ltd., 5.03%, <br> 01/15/38, (3-mo. CME Term SOFR + <br> 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3007607 |
| &nbsp;&nbsp;&nbsp; New Mountain CLO 3 Ltd., 5.01%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3007082 |
| &nbsp;&nbsp;&nbsp; New Mountain CLO 7 Ltd., 4.88%, <br> 03/31/38, (3-mo. CME Term SOFR + <br> 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2501275 |
| &nbsp;&nbsp;&nbsp; New Mountain CLO 8 Ltd., 4.95%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 1.27%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5009897 |
| &nbsp;&nbsp;&nbsp; New Residential Mortgage Loan Trust, <br> 4.44%, 02/17/39<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD258 | 253731 |
| &nbsp;&nbsp;&nbsp; Newbridge Park CLO DAC, 4.70%, <br> 04/15/40, (3-mo. EURIBOR + 2.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,400 | 3932270 |
| Newday Funding Master Issuer PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.39%, 07/15/32, (1-day SONIA+ <br> 2.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP142 | 194687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 07/15/32, (1-day SONIA+ <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 07/15/32, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 11/15/32, (1-day SONIA + <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP151 | 206113 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 11/15/32, (1-day SONIA + <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP438 | 598053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 11/15/32, (1-day SONIA + <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,047 | 1427681 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 04/15/33, (1-day SONIA+ <br> 1.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP317 | 431396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 04/15/33, (1-day SONIA + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP194 | 264335 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 04/15/33, (1-day SONIA+ <br> 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,989 | $2710553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 07/15/33, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP152 | 207078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 07/15/33, (1-day SONIA+ <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP475 | 646355 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.54%, 07/15/33, (1-day SONIA+ <br> 0.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,490 | 2028730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 03/15/34, (1-day SONIA+ <br> 1.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP587 | 798928 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 03/15/34, (1-day SONIA+ <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,448 | 1970783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 03/15/34, (1-day SONIA+ <br> 0.82%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP3,642 | 4961297 |
| &nbsp;&nbsp;&nbsp; Newday Funding Master Issuer PLC - <br> Series, 4.64%, 07/15/32, (1-day SONIA+ <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP710 | 967660 |
| Noria DE |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.92%, 02/25/43, (1-mo. EURIBOR + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR280 | 328053 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.22%, 02/25/43, (1-mo. EURIBOR + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR140 | 164058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.62%, 02/25/43, (1-mo. EURIBOR + <br> 1.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR70 | 82490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 02/25/43, (1-mo. EURIBOR + <br> 3.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR70 | 83046 |
| NYMT Trust, 7.38%, 05/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,612 | 4584200 |
| Oak Hill Credit Partners X-R Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 04/20/38, (3-mo. CME Term <br> SOFR + 1.13%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,500 | 7492854 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.18%, 04/20/38, (3-mo. CME Term <br> SOFR + 2.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,950 | 2934961 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.28%, 04/20/38, (3-mo. CME Term <br> SOFR + 3.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1440841 |
| Oaktree CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.66%, 10/22/37, (3-mo. CME Term <br> SOFR + 3.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD270 | 271125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 01/15/38, (3-mo. CME Term <br> SOFR + 1.19%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2000282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 01/20/38, (3-mo. CME Term <br> SOFR + 1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3005531 |
| OCP CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | 502259 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,250 | 3256751 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD680 | 683003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.78%, 07/20/37, (3-mo. CME Term <br> SOFR + 3.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,260 | 1262958 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.43%, 04/23/37, (3-mo. CME Term <br> SOFR + 6.76%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,200 | 1200000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 10/18/37, (3-mo. CME Term <br> SOFR + 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2003840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.36%, 10/18/37, (3-mo. CME Term <br> SOFR + 1.68%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,750 | 4771029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 10/15/37, (3-mo. CME Term <br> SOFR + 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,750 | 2756877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 11/26/37, (3-mo. CME Term <br> SOFR + 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,750 | 6766108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 01/21/38, (3-mo. CME Term <br> SOFR + 1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3013432 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.98%, 01/26/38, (3-mo. CME Term <br> SOFR + 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004921 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | $250546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.57%, 10/25/37, (3-mo. CME Term <br> SOFR + 5.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2470012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 10/24/38, (3-mo. CME Term <br> SOFR + 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 04/20/38, (3-mo. CME Term <br> SOFR + 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 999747 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 01/15/37, (3-mo. CME Term <br> SOFR + 2.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 246205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/15/38, (3-mo. CME Term <br> SOFR + 1.23%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,025 | 1026546 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.83%, 04/20/39, (3-mo. CME Term <br> SOFR + 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,435 | 7433132 |
| &nbsp;&nbsp;&nbsp; Octagon 59 Ltd., 5.60%, 05/15/35, (3-mo. <br> CME Term SOFR + 1.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,200 | 2207436 |
| &nbsp;&nbsp;&nbsp; Octagon 75 Ltd., 4.86%, 01/22/38, (3-mo. <br> CME Term SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2001601 |
| &nbsp;&nbsp;&nbsp; Octagon Investment Partners 36 Ltd., <br> 5.32%, 04/15/31, (3-mo. CME Term <br> SOFR + 1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250566 |
| &nbsp;&nbsp;&nbsp; Octagon Investment Partners 41 Ltd., <br> 4.76%, 10/15/33, (3-mo. CME Term <br> SOFR + 1.09%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,250 | 4251129 |
| &nbsp;&nbsp;&nbsp; Octagon Investment Partners XXI Ltd., <br> 5.00%, 02/14/31, (3-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 4998708 |
| OHA Credit Funding 10-R Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 07/18/37, (3-mo. CME Term <br> SOFR + 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 3998080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 07/18/38, (3-mo. CME Term <br> SOFR + 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3002925 |
| OHA Credit Funding 13 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD751 | 752813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.48%, 07/20/37, (3-mo. CME Term <br> SOFR + 2.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1005515 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 14-R Ltd., 6.58%, <br> 04/20/38, (3-mo. CME Term SOFR + <br> 2.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002688 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 16-R Ltd., 4.88%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2001125 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 17-R Ltd., 4.82%, <br> 04/20/39, (3-mo. CME Term SOFR + <br> 1.14%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,000 | 7993286 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 2 Ltd., 6.37%, <br> 01/21/38, (3-mo. CME Term SOFR + <br> 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,050 | 2051078 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 22 Ltd., 5.01%, <br> 07/20/38, (3-mo. CME Term SOFR + <br> 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,050 | 2054266 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 3 Ltd., 5.00%, <br> 01/20/38, (3-mo. CME Term SOFR + <br> 1.32%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 751654 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 4 Ltd., 4.95%, <br> 01/22/38, (3-mo. CME Term SOFR + <br> 1.29%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD700 | 701891 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 5 Ltd., 5.38%, <br> 10/18/37, (3-mo. CME Term SOFR + <br> 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,750 | 1757415 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 6 Ltd., 5.01%, <br> 10/20/37, (3-mo. CME Term SOFR + <br> 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,250 | 3255940 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 7 Ltd., 4.96%, <br> 07/19/38, (3-mo. CME Term SOFR + <br> 1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,250 | $6260369 |
| OHA Credit Funding 9 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 10/19/37, (3-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5009623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 10/19/37, (3-mo. CME Term <br> SOFR + 1.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.68%, 10/19/37, (3-mo. CME Term <br> SOFR + 3.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3012468 |
| OHA Credit Partners XVI |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 10/18/37, (3-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD625 | 626205 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.68%, 10/18/37, (3-mo. CME Term <br> SOFR + 3.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,250 | 1254924 |
| OHA Loan Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.46%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250395 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 10/19/38, (3-mo. CME Term <br> SOFR + 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,715 | 3723165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 10/19/38, (3-mo. CME Term <br> SOFR + 1.57%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | 501854 |
| OHS Issuer LLC, 5.98%, 02/25/61<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,191 | 7062141 |
| Onemain Financial Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.79%, 07/14/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,072 | 1075834 |
| &nbsp;&nbsp;&nbsp; 4.82%, 07/14/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12,650 | 12648191 |
| OneMain Financial Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.14%, 10/14/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD350 | 343234 |
| &nbsp;&nbsp;&nbsp; 2.47%, 06/16/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD500 | 470998 |
| &nbsp;&nbsp;&nbsp; 5.24%, 10/14/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,358 | 7365091 |
| &nbsp;&nbsp;&nbsp; 1.75%, 09/14/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD270 | 266712 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/14/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,088 | 3148336 |
| &nbsp;&nbsp;&nbsp; 1.95%, 06/16/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 189298 |
| &nbsp;&nbsp;&nbsp; 2.21%, 09/14/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD392 | 380240 |
| &nbsp;&nbsp;&nbsp; 7.52%, 09/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD595 | 612164 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 09/15/36, (30-day Avg SOFR + <br> 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,250 | 4274460 |
| &nbsp;&nbsp;&nbsp; 6.17%, 09/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,323 | 5429992 |
| &nbsp;&nbsp;&nbsp; 7.49%, 06/14/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD595 | 622394 |
| &nbsp;&nbsp;&nbsp; 2.76%, 09/14/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD575 | 559045 |
| &nbsp;&nbsp;&nbsp; 5.79%, 05/14/41<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17,087 | 17871779 |
| &nbsp;&nbsp;&nbsp; Orchard Park CLO Ltd., 5.04%, <br> 10/20/37, (3-mo. CME Term SOFR + <br> 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001953 |
| &nbsp;&nbsp;&nbsp; OWL Rock CLO V LLC, 5.46%, <br> 04/20/34, (3-mo. CME Term SOFR + <br> 1.78%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1499896 |
| &nbsp;&nbsp;&nbsp; OZLM Funding II Ltd., 4.87%, <br> 07/30/37, (3-mo. CME Term SOFR + <br> 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3000899 |
| &nbsp;&nbsp;&nbsp; OZLM XIX Ltd., 5.07%, 01/15/35, (3-mo. <br> CME Term SOFR + 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2515214 |
| &nbsp;&nbsp;&nbsp; OZLM XVIII Ltd., 5.48%, 04/15/31, (3-mo. <br> CME Term SOFR + 1.81%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD224 | 224893 |
| &nbsp;&nbsp;&nbsp; OZLM XXIV Ltd., 5.39%, 07/20/32, (3-mo. <br> CME Term SOFR + 1.71%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,200 | 1200346 |
| Palmer Square CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.28%, 07/20/37, (3-mo. CME Term <br> SOFR + 1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.33%, 01/20/38, (3-mo. CME Term <br> SOFR + 2.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD830 | 830508 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.18%, 04/20/38, (3-mo. CME Term <br> SOFR + 4.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 729378 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 04/20/38, (3-mo. CME Term <br> SOFR + 2.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | $997673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 07/15/38, (3-mo. CME Term <br> SOFR + 1.32%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2005327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 10/15/38, (3-mo. CME Term <br> SOFR + 1.29%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,750 | 4762004 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.23%, 10/20/38, (3-mo. CME Term <br> SOFR + 2.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3017125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/20/38, (3-mo. CME Term <br> SOFR + 1.27%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3007294 |
| &nbsp;&nbsp;&nbsp; Palmer Square European Loan <br> Funding DAC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 05/15/34, (3-mo. EURIBOR + <br> 3.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR730 | 859338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 05/15/34, (3-mo. EURIBOR + <br> 3.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR850 | 1000693 |
| Palmer Square Loan Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.37%, 01/15/33, (3-mo. CME Term <br> SOFR + 4.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 740596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 02/15/33, (3-mo. CME Term <br> SOFR + 2.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 998172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 07/15/33, (3-mo. CME Term <br> SOFR + 2.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 3961616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.11%, 01/15/34, (3-mo. CME Term <br> SOFR + 4.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 972229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 01/15/34, (3-mo. CME Term <br> SOFR + 0.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 2995677 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.11%, 01/15/34, (3-mo. CME Term <br> SOFR + 2.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 979209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.48%, 08/08/32, (3-mo. CME Term <br> SOFR + 0.82%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 4997499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 08/08/32, (3-mo. CME Term <br> SOFR + 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,075 | 6064671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 08/08/32, (3-mo. CME Term <br> SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,200 | 2200486 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 08/08/32, (3-mo. CME Term <br> SOFR + 1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3001500 |
| Panorama Auto Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 03/15/33, (1-month BB Swap + <br> 0.97%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD2,283 | 1643080 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 03/15/33, (1-month BB Swap + <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD576 | 414675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 09/15/33, (1-month BB Swap + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD500 | 357815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 09/15/33, (1-month BB Swap + <br> 0.87%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,907 | 1369804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/15/33, (1-month BB Swap + <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD500 | 358848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 04/20/34, (1-month BB Swap + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD2,726 | 1960146 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 04/20/34, (1-month BB Swap + <br> 0.93%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD9,937 | 7141921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 04/20/34, (1-month BB Swap + <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD2,531 | 1822186 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 03/15/34, (1-month BB Swap + <br> 1.02%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD9,697 | 6975911 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 03/15/34, (1-month BB Swap + <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD972 | 697930 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 03/15/34, (1-month BB Swap + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,285 | 922684 |
| Park Blue CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 07/25/37, (3-mo. CME Term <br> SOFR + 1.48%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,240 | 9254262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 01/25/38, (3-mo. CME Term <br> SOFR + 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,200 | 5213642 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 04/25/38, (3-mo. CME Term <br> SOFR + 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | $4004011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 04/20/37, (3-mo. CME Term <br> SOFR + 1.48%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,615 | 1619301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 01/20/39, (3-mo. CME Term <br> SOFR + 1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,000 | 6014152 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 01/25/39, (3-mo. CME Term <br> SOFR + 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2505712 |
| Pavillion Consumer PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 01/25/36, (1-day SONIA+ <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,277 | 1735835 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 01/25/36, (1-day SONIA+ <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP4,106 | 5575807 |
| PCL Funding IX PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 07/16/29, (1-day SONIA + <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,142 | 1556748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 07/16/29, (1-day SONIA + <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136239 |
| &nbsp;&nbsp;&nbsp; Peace Park CLO Ltd., 4.93%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,837 | 2843239 |
| &nbsp;&nbsp;&nbsp; Penta CLO 17 DAC, 4.62%, <br> 02/15/39, (3-mo. EURIBOR + 2.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,700 | 3121221 |
| PFP Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 09/17/39, (1-mo. CME Term <br> SOFR + 1.83%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD871 | 870684 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 08/18/43, (1-mo. CME Term <br> SOFR + 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5007900 |
| PFS Financing Corp., 5.14%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,050 | 8116870 |
| &nbsp;&nbsp;&nbsp; Pikes Peak CLO 14 Ltd., 5.06%, <br> 07/20/38, (3-mo. CME Term SOFR + <br> 1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,620 | 1624378 |
| &nbsp;&nbsp;&nbsp; Pikes Peak CLO 15 Ltd., 4.90%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,500 | 3505061 |
| &nbsp;&nbsp;&nbsp; Pikes Peak CLO 18, 4.90%, <br> 04/20/38, (3-mo. CME Term SOFR + <br> 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,000 | 10010181 |
| &nbsp;&nbsp;&nbsp; Planet Fitness Master Issuer LLC, 5.65%, <br> 12/06/55<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,952 | 4915703 |
| Point Broadband Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.34%, 07/20/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,410 | 4428473 |
| &nbsp;&nbsp;&nbsp; 5.73%, 07/20/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,510 | 2512890 |
| &nbsp;&nbsp;&nbsp; Polen Capital CLO Ltd., 5.04%, <br> 01/20/39, (3-mo. CME Term SOFR + <br> 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,750 | 1754084 |
| Pony SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 01/14/33, (1-mo. EURIBOR + <br> 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR79 | 92773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.52%, 01/14/33, (1-mo. EURIBOR + <br> 0.52%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR788 | 926010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 01/14/33, (1-mo. EURIBOR + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR79 | 92947 |
| &nbsp;&nbsp;&nbsp; Post CLO VI Ltd., 5.10%, 01/20/38, (3-mo. <br> CME Term SOFR + 1.42%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,750 | 1752993 |
| Progress Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.61%, 12/17/40<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD414 | 404920 |
| &nbsp;&nbsp;&nbsp; 4.10%, 02/17/43<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,795 | 1654205 |
| &nbsp;&nbsp;&nbsp; Providus CLO II DAC, 5.40%, <br> 10/15/38, (3-mo. EURIBOR + 3.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR910 | 1066464 |
| &nbsp;&nbsp;&nbsp; Providus Clo VI DAC, 5.21%, <br> 05/20/34, (3-mo. EURIBOR + 3.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1177411 |
| &nbsp;&nbsp;&nbsp; Providus Clo XIV DAC, 4.92%, <br> 04/18/40, (3-mo. EURIBOR + 2.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,773 | 3235666 |
| &nbsp;&nbsp;&nbsp; PRPM Issuer LLC, 5.34%, 03/19/43, (1-mo. <br> CME Term SOFR + 1.67%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,200 | 3204045 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| QTS Issuer ABS II LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.04%, 10/05/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,182 | $5081954 |
| &nbsp;&nbsp;&nbsp; 6.73%, 01/05/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,114 | 1097548 |
| &nbsp;&nbsp;&nbsp; 5.85%, 01/05/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,431 | 2406633 |
| &nbsp;&nbsp;&nbsp; 6.18%, 03/06/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,453 | 3476694 |
| &nbsp;&nbsp;&nbsp; Quarzo Srl, 2.96%, 03/15/42, (3-mo. <br> EURIBOR + 0.81%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR890 | 1047146 |
| Quarzo SRL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 06/15/41, (3-mo. EURIBOR + <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR179 | 211489 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.94%, 06/15/41, (3-mo. EURIBOR + <br> 0.79%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR677 | 796231 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 06/15/41, (3-mo. EURIBOR + <br> 2.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR59 | 70550 |
| Rad CLO 10 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 04/23/34, (3-mo. CME Term <br> SOFR + 1.66%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/23/34, (3-mo. CME Term <br> SOFR + 1.43%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,510 | 3511425 |
| &nbsp;&nbsp;&nbsp; Rad CLO 18 Ltd., 5.07%, 07/15/37, (3-mo. <br> CME Term SOFR + 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001342 |
| &nbsp;&nbsp;&nbsp; Rad CLO 24 Ltd., 5.68%, 07/20/37, (3-mo. <br> CME Term SOFR + 2.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002797 |
| &nbsp;&nbsp;&nbsp; RAD CLO 28 Ltd., 6.48%, 04/20/38, (3-mo. <br> CME Term SOFR + 2.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 750194 |
| &nbsp;&nbsp;&nbsp; Rad CLO 6 Ltd., 5.07%, 10/20/37, (3-mo. <br> CME Term SOFR + 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3006082 |
| RAF ABS Trust, 5.01%, 12/09/31<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; AUD1,704 | 1226509 |
| RCKT Mortgage Trust, 6.77%, 02/25/44<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD138 | 138623 |
| &nbsp;&nbsp;&nbsp; Red & Black Auto Italy Srl, 2.72%, <br> 07/28/36, (1-mo. EURIBOR + 0.81%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR614 | 722236 |
| &nbsp;&nbsp;&nbsp; Red & Black Auto Italy SRL, 3.01%, <br> 07/28/36, (1-mo. EURIBOR + 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR79 | 92207 |
| &nbsp;&nbsp;&nbsp; Regatta 30 Funding Ltd., 4.99%, <br> 01/25/38, (3-mo. CME Term SOFR + <br> 1.32%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3006679 |
| &nbsp;&nbsp;&nbsp; Regatta 31 Funding Ltd., 6.47%, <br> 03/25/38, (3-mo. CME Term SOFR + <br> 2.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2000462 |
| &nbsp;&nbsp;&nbsp; Regatta XII Funding Ltd., 5.06%, <br> 10/15/37, (3-mo. CME Term SOFR + <br> 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,540 | 3546846 |
| &nbsp;&nbsp;&nbsp; Regatta XVII Funding Ltd., 5.05%, <br> 10/15/37, (3-mo. CME Term SOFR + <br> 1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,900 | 3907955 |
| Regatta XVIII Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 04/15/38, (3-mo. CME Term <br> SOFR + 1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD670 | 672685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.83%, 04/15/38, (3-mo. CME Term <br> SOFR + 1.16%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,473 | 1472222 |
| &nbsp;&nbsp;&nbsp; Regatta XXVIII Funding Ltd., 5.22%, <br> 04/25/37, (3-mo. CME Term SOFR + <br> 1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,100 | 9112026 |
| Regional Management Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.90%, 08/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,477 | 4362233 |
| &nbsp;&nbsp;&nbsp; 2.35%, 08/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,710 | 1608027 |
| &nbsp;&nbsp;&nbsp; 3.71%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD676 | 674796 |
| &nbsp;&nbsp;&nbsp; 5.83%, 07/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,371 | 1388291 |
| &nbsp;&nbsp;&nbsp; 7.46%, 07/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,844 | 3914881 |
| &nbsp;&nbsp;&nbsp; 5.49%, 12/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,033 | 1038067 |
| &nbsp;&nbsp;&nbsp; 5.74%, 12/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,736 | 3755327 |
| &nbsp;&nbsp;&nbsp; 6.33%, 12/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD750 | 753614 |
| &nbsp;&nbsp;&nbsp; 5.53%, 04/17/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,337 | 5369617 |
| &nbsp;&nbsp;&nbsp; 4.59%, 11/16/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,346 | 7291250 |
| Republic Finance Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.91%, 08/20/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,024 | 6049094 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; 6.47%, 08/20/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,801 | $1810751 |
| &nbsp;&nbsp;&nbsp; 5.42%, 11/20/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,613 | 7698829 |
| &nbsp;&nbsp;&nbsp; 5.86%, 11/20/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,630 | 3663673 |
| &nbsp;&nbsp;&nbsp; 7.28%, 08/20/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,665 | 1675865 |
| &nbsp;&nbsp;&nbsp; 4.59%, 11/20/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,466 | 6425487 |
| &nbsp;&nbsp;&nbsp; Retained Vantage Data Centers Issuer LLC, <br> 5.09%, 08/15/50<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,089 | 3988665 |
| RevoCar SA - Compartment |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.74%, 08/25/38, (1-mo. EURIBOR + <br> 0.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR195 | 228980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.99%, 08/25/38, (1-mo. EURIBOR + <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR98 | 114550 |
| Rockford Tower CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 10/20/31, (3-mo. CME Term <br> SOFR + 1.42%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD29 | 28774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.97%, 03/31/38, (3-mo. CME Term <br> SOFR + 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 1999241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.04%, 10/20/31, (3-mo. CME Term <br> SOFR + 3.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1005030 |
| Rockford Tower Europe CLO DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 10/25/37, (3-mo. EURIBOR + <br> 3.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,980 | 2333276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 01/15/40, (3-mo. EURIBOR + <br> 3.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,550 | 3016586 |
| &nbsp;&nbsp;&nbsp; Romark CLO II Ltd., 6.67%, <br> 07/25/31, (3-mo. CME Term SOFR + <br> 3.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1006217 |
| RR 19 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 04/15/40, (3-mo. CME Term <br> SOFR + 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,630 | 1629682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 04/15/40, (3-mo. CME Term <br> SOFR + 1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 752848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.37%, 04/15/40, (3-mo. CME Term <br> SOFR + 4.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 3966320 |
| &nbsp;&nbsp;&nbsp; RR 20 Ltd., 6.27%, 07/15/37, (3-mo. CME <br> Term SOFR + 2.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 745606 |
| &nbsp;&nbsp;&nbsp; RR 27 Ltd., 4.90%, 10/15/40, (3-mo. CME <br> Term SOFR + 1.23%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,700 | 6711653 |
| &nbsp;&nbsp;&nbsp; RR 32 Ltd., 5.03%, 10/15/39, (3-mo. CME <br> Term SOFR + 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 250478 |
| RR 38 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 04/15/40, (3-mo. CME Term <br> SOFR + 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,125 | 1124180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 04/15/40, (3-mo. CME Term <br> SOFR + 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 752781 |
| &nbsp;&nbsp;&nbsp; RR 41 Ltd., 4.92%, 10/15/40, (3-mo. CME <br> Term SOFR + 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,250 | 11274653 |
| &nbsp;&nbsp;&nbsp; RR 43 Ltd., 6.05%, 10/15/39, (3-mo. CME <br> Term SOFR + 2.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1003916 |
| RR 5 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.27%, 07/15/39, (3-mo. CME Term <br> SOFR + 3.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,250 | 1253423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 07/15/39, (3-mo. CME Term <br> SOFR + 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1501516 |
| RR 7 Ltd., 6.77%, 01/15/37<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 1000000 |
| &nbsp;&nbsp;&nbsp; Sagard-Halseypoint CLO 10 Ltd., 5.03%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5012498 |
| SAIF Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.64%, 06/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,232 | 2239791 |
| &nbsp;&nbsp;&nbsp; 5.40%, 02/25/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,706 | 3703059 |
| &nbsp;&nbsp;&nbsp; Sandstone Peak II Ltd., 5.09%, <br> 07/20/38, (3-mo. CME Term SOFR + <br> 1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001719 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Sandstone Peak IV Ltd., 4.95%, <br> 01/20/39, (3-mo. CME Term SOFR + <br> 1.29%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | $3007159 |
| Santander Consumo 10 FT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.34%, 05/22/41, (3-mo. EURIBOR + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,100 | 3640472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.14%, 05/22/41, (3-mo. EURIBOR + <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,800 | 2115785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.74%, 05/22/41, (3-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,600 | 1879704 |
| Santander Consumo 8 Fondo de Titulizacion |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.23%, 01/21/40, (3-mo. EURIBOR + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR400 | 472245 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.80%, 01/21/40, (3-mo. EURIBOR + <br> 0.77%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR600 | 705338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.53%, 01/21/40, (3-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | 235346 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.78%, 01/21/40, (3-mo. EURIBOR + <br> 2.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117408 |
| SC Austria SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 07/25/41, (3-mo. EURIBOR + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,805 | 4482801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.48%, 07/25/41, (3-mo. EURIBOR + <br> 1.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,321 | 1561873 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.83%, 07/25/41, (3-mo. EURIBOR + <br> 1.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,128 | 1331034 |
| SC Germany SA Compartment Consumer |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.70%, 05/14/38, (1-mo. EURIBOR + <br> 1.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117745 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.40%, 05/14/38, (1-mo. EURIBOR + <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117523 |
| &nbsp;&nbsp;&nbsp; 2.70%, 05/14/38<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; EUR664 | 781327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.10%, 05/14/38, (1-mo. EURIBOR + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR600 | 704683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 12/14/38, (1-mo. EURIBOR + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 116833 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 12/14/38, (1-mo. EURIBOR + <br> 1.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 118030 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 12/14/38, (1-mo. EURIBOR + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR400 | 467039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 12/15/38, (1-mo. EURIBOR + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,800 | 4473730 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 12/15/38, (1-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,200 | 1408391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.15%, 12/15/38, (1-mo. EURIBOR + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR800 | 934287 |
| SC Germany SA Compartment Leasing |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.85%, 09/14/36, (1-mo. EURIBOR + <br> 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | 234839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.00%, 09/14/36, (1-mo. EURIBOR + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117209 |
| &nbsp;&nbsp;&nbsp; Sculptor CLO XXXVI Ltd., 4.92%, <br> 01/30/39, (3-mo. CME Term SOFR + <br> 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,400 | 6412821 |
| Secucor Finance 2013-1 DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 09/20/36, (1-mo. EURIBOR + <br> 3.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR400 | 467757 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.64%, 09/20/36, (1-mo. EURIBOR + <br> 1.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.44%, 09/20/36, (1-mo. EURIBOR + <br> 4.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 116883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.39%, 09/20/36, (1-mo. EURIBOR + <br> 1.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR500 | 589740 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.14%, 09/20/36, (1-mo. EURIBOR + <br> 6.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR700 | 826097 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| Service Experts Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp; 2.67%, 02/02/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD15 | $14862 |
| &nbsp;&nbsp;&nbsp; 6.39%, 11/20/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD747 | 760258 |
| Sesac Finance LLC, 5.50%, 07/25/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,866 | 3780708 |
| Shentel Issuer LLC, 5.64%, 12/20/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,771 | 4822793 |
| &nbsp;&nbsp;&nbsp; Signal Harmonic CLO I DAC, 5.70%, <br> 07/15/38, (3-mo. EURIBOR + 3.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,320 | 1545222 |
| &nbsp;&nbsp;&nbsp; Signal Peak CLO 11 Ltd., 5.13%, <br> 07/18/37, (3-mo. CME Term SOFR + <br> 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2503239 |
| &nbsp;&nbsp;&nbsp; Signal Peak CLO 7 Ltd., 5.10%, <br> 10/20/37, (3-mo. CME Term SOFR + <br> 1.42%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002169 |
| &nbsp;&nbsp;&nbsp; Signal Peak CLO 8 Ltd., 5.07%, <br> 10/20/37, (3-mo. CME Term SOFR + <br> 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,700 | 8717377 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO 12 Ltd., 4.98%, <br> 10/15/38, (3-mo. CME Term SOFR + <br> 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2506057 |
| Silver Point CLO 13 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 10/15/38, (3-mo. CME Term <br> SOFR + 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5012012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.32%, 10/15/38, (3-mo. CME Term <br> SOFR + 2.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 1999270 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO 3 Ltd., 4.94%, <br> 01/18/39, (3-mo. CME Term SOFR + <br> 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004189 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO 4 Ltd., 5.30%, <br> 04/15/37, (3-mo. CME Term SOFR + <br> 1.63%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,170 | 1170000 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO 5 Ltd., 6.93%, <br> 10/20/37, (3-mo. CME Term SOFR + <br> 3.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2470153 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO 6 Ltd., 5.07%, <br> 10/15/37, (3-mo. CME Term SOFR + <br> 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5010593 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO 8 Ltd., 4.88%, <br> 04/15/38, (3-mo. CME Term SOFR + <br> 1.21%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3002723 |
| &nbsp;&nbsp;&nbsp; Silver Point Euro CLO 1 DAC, 5.10%, <br> 01/15/39, (3-mo. EURIBOR + 3.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,257 | 1479225 |
| &nbsp;&nbsp;&nbsp; Sixth Street CLO XII Ltd., 5.28%, <br> 01/17/39, (3-mo. CME Term SOFR + <br> 1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,025 | 1027561 |
| &nbsp;&nbsp;&nbsp; Sixth Street CLO XIII Ltd., 4.89%, <br> 01/21/38, (3-mo. CME Term SOFR + <br> 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001032 |
| &nbsp;&nbsp;&nbsp; Sixth Street CLO XIV Ltd., 4.82%, <br> 01/20/38, (3-mo. CME Term SOFR + <br> 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,200 | 5194796 |
| &nbsp;&nbsp;&nbsp; Sixth Street CLO XIX Ltd., 5.28%, <br> 07/17/38, (3-mo. CME Term SOFR + <br> 1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | 502139 |
| &nbsp;&nbsp;&nbsp; Sixth Street CLO XVI Ltd., 4.84%, <br> 01/21/39, (3-mo. CME Term SOFR + <br> 1.17%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,250 | 10245069 |
| &nbsp;&nbsp;&nbsp; Sixth Street CLO XVII Ltd., 4.83%, <br> 04/17/38, (3-mo. CME Term SOFR + <br> 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,750 | 1748336 |
| &nbsp;&nbsp;&nbsp; Sixth Street CLO XXII Ltd., 4.80%, <br> 04/21/38, (3-mo. CME Term SOFR + <br> 1.13%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,000 | 7993208 |
| SLM Private Credit Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 12/16/41, (3-mo. CME Term <br> SOFR + 0.50%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD269 | 265752 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.37%, 09/15/33, (3-mo. CME Term <br> SOFR + 0.69%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD160 | $158985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2004-A, Class A3, 4.34%, <br> 06/15/33, (3-mo. CME Term SOFR + <br> 0.66%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD120 | 120225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2005-A, Class A4, 4.25%, <br> 12/15/38, (3-mo. CME Term SOFR + <br> 0.57%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD995 | 988427 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2006-A, Class A5, 4.23%, <br> 06/15/39, (3-mo. CME Term SOFR + <br> 0.55%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD65 | 64190 |
| &nbsp;&nbsp;&nbsp; SLM Private Education Loan Trust, 8.52%, <br> 10/15/41, (1-mo. CME Term SOFR + <br> 4.86%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,189 | 2294562 |
| SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.44%, 07/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD53 | 52330 |
| &nbsp;&nbsp;&nbsp; 2.76%, 07/15/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,016 | 927599 |
| &nbsp;&nbsp;&nbsp; 2.31%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,523 | 1486518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 01/15/53, (1-mo. CME Term <br> SOFR + 0.91%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,356 | 1345937 |
| &nbsp;&nbsp;&nbsp; 2.30%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD640 | 624313 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 02/16/55, (30-day Avg SOFR + <br> 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,082 | 1091607 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.77%, 06/15/37, (1-mo. CME Term <br> SOFR + 1.11%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD322 | 322066 |
| &nbsp;&nbsp;&nbsp; 4.48%, 05/16/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD696 | 688099 |
| &nbsp;&nbsp;&nbsp; 1.59%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,604 | 4257095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.44%, 10/16/56, (30-day Avg SOFR + <br> 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,202 | 2240070 |
| &nbsp;&nbsp;&nbsp; 2.84%, 06/15/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD113 | 111031 |
| &nbsp;&nbsp;&nbsp; 1.34%, 03/17/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD92 | 87495 |
| &nbsp;&nbsp;&nbsp; 2.23%, 09/15/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD73 | 70691 |
| &nbsp;&nbsp;&nbsp; 5.67%, 11/15/52<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,541 | 1567806 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.19%, 11/15/52, (30-day Avg SOFR + <br> 1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,524 | 3558472 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.60%, 09/15/37, (1-mo. CME Term <br> SOFR + 0.94%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD732 | 731318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 01/15/37, (1-mo. CME Term <br> SOFR + 0.83%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD66 | 65780 |
| &nbsp;&nbsp;&nbsp; 3.50%, 06/17/41<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD59 | 59081 |
| &nbsp;&nbsp;&nbsp; 0.00%, 01/15/53<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,704 | 1688693 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11 | 10871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 07/15/36, (1-mo. CME Term <br> SOFR + 0.98%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD406 | 405887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 09/15/54, (1-mo. CME Term <br> SOFR + 0.96%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD418 | 416317 |
| &nbsp;&nbsp;&nbsp; 2.50%, 09/15/54<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD380 | 339792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 01/15/53, (30-day Avg SOFR + <br> 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,340 | 1349303 |
| &nbsp;&nbsp;&nbsp; 1.07%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD958 | 875939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 07/15/53, (1-mo. CME Term <br> SOFR + 1.21%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD125 | 125561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 03/15/56, (30-day Avg SOFR + <br> 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,047 | 3065822 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD669 | 675199 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 09/15/54, (1-mo. CME Term <br> SOFR + 0.96%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,555 | 2544680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 02/15/36, (1-mo. CME Term <br> SOFR + 0.91%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD60 | 60004 |
| &nbsp;&nbsp;&nbsp; 6.15%, 10/15/58<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,290 | 1319876 |
| &nbsp;&nbsp;&nbsp; 1.39%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD198 | 180981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 06/17/52, (30-day Avg SOFR + <br> 1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,466 | 1463381 |
| &nbsp;&nbsp;&nbsp; 3.25%, 11/16/54<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD392 | 362398 |
| &nbsp;&nbsp;&nbsp; 5.09%, 05/16/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,072 | 4963010 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; 3.00%, 08/15/45<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,600 | $3371905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 07/15/53, (30-day Avg SOFR + <br> 1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD384 | 383031 |
| &nbsp;&nbsp;&nbsp; 3.56%, 06/15/43<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,155 | 8763470 |
| Sofi Consumer Loan Program Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.40%, 02/25/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD16,657 | 16655533 |
| &nbsp;&nbsp;&nbsp; 4.90%, 02/25/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,427 | 1425451 |
| &nbsp;&nbsp;&nbsp; 5.20%, 02/25/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,362 | 1360172 |
| &nbsp;&nbsp;&nbsp; 5.56%, 02/25/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,337 | 1335433 |
| &nbsp;&nbsp;&nbsp; SoFi Consumer Loan Program Trust, 5.12%, <br> 02/27/34<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,393 | 4426385 |
| SoFi Personal Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 11/12/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD39 | 38988 |
| &nbsp;&nbsp;&nbsp; 6.06%, 02/12/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD199 | 199562 |
| &nbsp;&nbsp;&nbsp; Sofi Professional Loan Program LLC, <br> 3.09%, 08/17/48<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD574 | 565867 |
| SoFi Professional Loan Program LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.59%, 01/25/48<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | 9910 |
| &nbsp;&nbsp;&nbsp; 3.12%, 05/15/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD365 | 329357 |
| &nbsp;&nbsp;&nbsp; 3.36%, 02/15/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD537 | 462183 |
| &nbsp;&nbsp;&nbsp; 1.95%, 02/15/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,531 | 1440023 |
| &nbsp;&nbsp;&nbsp; 1.14%, 02/15/47<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,413 | 1264958 |
| SoFi Professional Loan Program Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.17%, 05/15/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,194 | 1128942 |
| &nbsp;&nbsp;&nbsp; 2.73%, 05/15/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,350 | 1125336 |
| &nbsp;&nbsp;&nbsp; Sona Fios CLO III DAC, 5.49%, <br> 04/20/37, (3-mo. EURIBOR + 3.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,800 | 2122658 |
| &nbsp;&nbsp;&nbsp; Sona Fios CLO V DAC, 5.33%, <br> 08/25/38, (3-mo. EURIBOR + 3.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,200 | 1420153 |
| &nbsp;&nbsp;&nbsp; Sound Point CLO Ltd., 5.57%, <br> 04/15/38, (3-mo. CME Term SOFR + <br> 1.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,050 | 1052766 |
| Sound Point CLO V-R Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 07/18/31, (3-mo. CME Term <br> SOFR + 1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD185 | 184643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.69%, 07/18/31, (3-mo. CME Term <br> SOFR + 2.01%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1003693 |
| &nbsp;&nbsp;&nbsp; Sound Point Clo XXI Ltd., 4.97%, <br> 10/26/31, (3-mo. CME Term SOFR + <br> 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD948 | 948491 |
| &nbsp;&nbsp;&nbsp; Sound Point CLO XXV Ltd., 4.95%, <br> 04/25/33, (3-mo. CME Term SOFR + <br> 1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD744 | 744357 |
| &nbsp;&nbsp;&nbsp; Sounds Point CLO IV-R Ltd., 5.09%, <br> 04/18/31, (3-mo. CME Term SOFR + <br> 1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,986 | 1986848 |
| &nbsp;&nbsp;&nbsp; Soundview Home Loan Trust, 4.32%, <br> 01/25/37, (1-mo. CME Term SOFR + <br> 0.64%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD269 | 281254 |
| &nbsp;&nbsp;&nbsp; STAR Trust, 6.11%, 02/17/42, (1-mo. CME <br> Term SOFR + 2.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,667 | 1667430 |
| &nbsp;&nbsp;&nbsp; Stream Innovations Issuer Trust, 5.05%, <br> 09/15/45<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,570 | 1571380 |
| Subway Funding LLC, 6.03%, 07/30/54<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,095 | 1103284 |
| Summit Issuer LLC, 5.21%, 11/20/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,456 | 4458608 |
| Sunrise Spv 97 Srl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 10/27/50, (1-mo. EURIBOR + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR215 | 251059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 10/27/50, (1-mo. EURIBOR + <br> 1.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 10/27/50, (1-mo. EURIBOR + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR669 | 786362 |
| Sunrise Spv 98 Srl |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.52%, 04/27/51, (1-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,008 | 1184991 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.87%, 04/27/51, (1-mo. EURIBOR + <br> 2.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,069 | $1256728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.02%, 04/27/51, (1-mo. EURIBOR + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,803 | 3291701 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.27%, 04/27/51, (1-mo. EURIBOR + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,195 | 2580623 |
| Sycamore Tree CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 04/20/37, (3-mo. CME Term <br> SOFR + 1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.83%, 04/20/37, (3-mo. CME Term <br> SOFR + 2.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1003697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 04/20/38, (3-mo. CME Term <br> SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3002221 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.58%, 10/20/38, (3-mo. CME Term <br> SOFR + 2.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 2992074 |
| &nbsp;&nbsp;&nbsp; Symphony CLO 30 Ltd., 5.63%, <br> 10/20/37, (3-mo. CME Term SOFR + <br> 1.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1004866 |
| &nbsp;&nbsp;&nbsp; Symphony CLO 40 Ltd., 4.98%, <br> 01/05/38, (3-mo. CME Term SOFR + <br> 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004292 |
| &nbsp;&nbsp;&nbsp; Symphony CLO 43 Ltd., 5.19%, <br> 04/15/37, (3-mo. CME Term SOFR + <br> 1.52%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2002154 |
| &nbsp;&nbsp;&nbsp; Symphony CLO 44 Ltd., 9.82%, <br> 07/14/37, (3-mo. CME Term SOFR + <br> 6.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 997371 |
| &nbsp;&nbsp;&nbsp; Symphony CLO XIX Ltd., 4.90%, <br> 04/16/31, (3-mo. CME Term SOFR + <br> 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD32 | 32390 |
| &nbsp;&nbsp;&nbsp; Symphony CLO XVI Ltd., 4.87%, <br> 10/15/31, (3-mo. CME Term SOFR + <br> 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD150 | 150152 |
| &nbsp;&nbsp;&nbsp; Symphony CLO XX Ltd., 5.23%, <br> 01/16/32, (3-mo. CME Term SOFR + <br> 1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001846 |
| &nbsp;&nbsp;&nbsp; Symphony CLO XXIII Ltd., 6.27%, <br> 01/15/34, (3-mo. CME Term SOFR + <br> 2.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004778 |
| &nbsp;&nbsp;&nbsp; Symphony CLO XXXIII Ltd., 4.93%, <br> 01/24/38, (3-mo. CME Term SOFR + <br> 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001745 |
| Taco Bell Funding LLC, 4.82%, 08/25/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,528 | 5465232 |
| &nbsp;&nbsp;&nbsp; TAGUS - Sociedade de Titularizacao de <br> Creditos SA/Silk Finance No. 6<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.83%, 12/25/39, (3-mo. EURIBOR + <br> 1.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117947 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.33%, 12/25/39, (3-mo. EURIBOR + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR300 | 353097 |
| &nbsp;&nbsp;&nbsp; TAGUS-Sociedade de Titularizacao de <br> Creditos SA/Vasco Finance No. 2<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 10/27/42, (1-mo. EURIBOR + <br> 2.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR63 | 74972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 10/27/42, (1-mo. EURIBOR + <br> 1.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR63 | 74705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 10/27/42, (1-mo. EURIBOR + <br> 4.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR63 | 75081 |
| &nbsp;&nbsp;&nbsp; TAGUS-Sociedade de Titularizacao de <br> Creditos SA/Vasco Finance No. 3<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/27/43, (1-mo. EURIBOR + <br> 0.93%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,200 | 2580782 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/27/43, (1-mo. EURIBOR + <br> 3.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR300 | 351515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.35%, 10/27/43, (1-mo. EURIBOR + <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117193 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.60%, 10/27/43, (1-mo. EURIBOR + <br> 1.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | $117194 |
| &nbsp;&nbsp;&nbsp; TCW CLO AMR Ltd., 4.95%, <br> 08/16/34, (3-mo. CME Term SOFR + <br> 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,200 | 2202198 |
| &nbsp;&nbsp;&nbsp; TCW CLO Ltd., 4.95%, 01/20/38, (3-mo. <br> CME Term SOFR + 1.27%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 751696 |
| &nbsp;&nbsp;&nbsp; Terwin Mortgage Trust, 4.81%, <br> 06/25/36, (1-mo. CME Term SOFR + <br> 1.13%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,323 | 1252287 |
| Texas Debt Capital CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.66%, 04/22/37, (3-mo. CME Term <br> SOFR + 6.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 1994882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.37%, 01/24/37, (3-mo. CME Term <br> SOFR + 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2009934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.21%, 04/22/37, (3-mo. CME Term <br> SOFR + 3.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD375 | 378069 |
| &nbsp;&nbsp;&nbsp; Texas Debt Capital Euro CLO DAC, 5.84%, <br> 07/16/38, (3-mo. EURIBOR + 3.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR828 | 972814 |
| &nbsp;&nbsp;&nbsp; TICP CLO VI Ltd., 5.05%, 01/15/34, (3-mo. <br> CME Term SOFR + 1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD243 | 243154 |
| &nbsp;&nbsp;&nbsp; TICP CLO XI Ltd., 5.20%, 04/25/37, (3-mo. <br> CME Term SOFR + 1.53%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD400 | 400476 |
| &nbsp;&nbsp;&nbsp; Tikehau CLO VI DAC, 5.80%, <br> 01/15/35, (3-mo. EURIBOR + 3.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1174825 |
| &nbsp;&nbsp;&nbsp; Tikehau CLO XII DAC, 5.49%, <br> 10/20/38, (3-mo. EURIBOR + 3.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,300 | 1533210 |
| &nbsp;&nbsp;&nbsp; Tikehau U.S. CLO VI Ltd., 5.88%, <br> 07/18/37, (3-mo. CME Term SOFR + <br> 2.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,500 | 7507381 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.80%, 01/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,316 | 4331918 |
| &nbsp;&nbsp;&nbsp; 5.30%, 12/25/65<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,694 | 2671864 |
| &nbsp;&nbsp;&nbsp; Trestles CLO II Ltd., 5.24%, <br> 07/25/37, (3-mo. CME Term SOFR + <br> 1.57%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 751532 |
| Trestles CLO III Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.78%, 10/20/37, (3-mo. CME Term <br> SOFR + 6.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 988795 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 10/20/37, (3-mo. CME Term <br> SOFR + 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2505188 |
| &nbsp;&nbsp;&nbsp; Trestles CLO IV Ltd., 5.07%, <br> 10/30/38, (3-mo. CME Term SOFR + <br> 1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5010354 |
| &nbsp;&nbsp;&nbsp; Trestles CLO IX Ltd., 4.93%, <br> 01/15/39, (3-mo. CME Term SOFR + <br> 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,000 | 6015182 |
| &nbsp;&nbsp;&nbsp; Trestles CLO Ltd., 6.82%, 07/25/37, (3-mo. <br> CME Term SOFR + 3.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | 502374 |
| &nbsp;&nbsp;&nbsp; Trestles CLO VI Ltd., 4.85%, <br> 04/25/38, (3-mo. CME Term SOFR + <br> 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,670 | 5671640 |
| &nbsp;&nbsp;&nbsp; Trestles CLO VII Ltd., 5.05%, <br> 10/25/37, (3-mo. CME Term SOFR + <br> 1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,300 | 2304503 |
| &nbsp;&nbsp;&nbsp; Trestles CLO VIII Ltd., 5.01%, <br> 06/11/35, (3-mo. CME Term SOFR + <br> 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,000 | 6014720 |
| &nbsp;&nbsp;&nbsp; TREVA Equipment Finance SA - <br> Compartment<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.90%, 01/20/35, (1-mo. EURIBOR + <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR49 | 57686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.64%, 01/20/35, (1-mo. EURIBOR + <br> 0.64%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR246 | 288404 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| Trimaran CAVU Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 10/22/37, (3-mo. CME Term <br> SOFR + 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | $4008104 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 01/25/38, (3-mo. CME Term <br> SOFR + 1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 4007226 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.92%, 01/25/38, (3-mo. CME Term <br> SOFR + 6.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,750 | 3724256 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 03/27/38, (3-mo. CME Term <br> SOFR + 1.24%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.73%, 03/18/38, (3-mo. CME Term <br> SOFR + 3.05%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 2989716 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.43%, 01/20/39, (3-mo. CME Term <br> SOFR + 2.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2005140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 10/25/34, (3-mo. CME Term <br> SOFR + 1.02%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,000 | 10997899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 10/25/34, (3-mo. CME Term <br> SOFR + 2.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,300 | 3250514 |
| &nbsp;&nbsp;&nbsp; Trinitas CLO VI Ltd., 6.97%, <br> 01/25/34, (3-mo. CME Term SOFR + <br> 3.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,200 | 1157117 |
| &nbsp;&nbsp;&nbsp; Trinitas CLO XIV Ltd., 5.37%, <br> 01/25/34, (3-mo. CME Term SOFR + <br> 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,245 | 1246628 |
| Trinitas CLO XVI Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 07/20/34, (3-mo. CME Term <br> SOFR + 1.13%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,430 | 3429723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 07/20/34, (3-mo. CME Term <br> SOFR + 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2503544 |
| &nbsp;&nbsp;&nbsp; Trinitas CLO XVIII Ltd., 4.90%, <br> 01/20/35, (3-mo. CME Term SOFR + <br> 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,750 | 3751548 |
| &nbsp;&nbsp;&nbsp; Trinitas CLO XXIII Ltd., 4.99%, <br> 10/20/38, (3-mo. CME Term SOFR + <br> 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3006675 |
| &nbsp;&nbsp;&nbsp; Trinitas CLO XXIX Ltd., 7.07%, <br> 07/23/37, (3-mo. CME Term SOFR + <br> 3.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1005748 |
| &nbsp;&nbsp;&nbsp; Trinitas CLO XXV Ltd., 4.91%, <br> 01/23/39, (3-mo. CME Term SOFR + <br> 1.24%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001218 |
| &nbsp;&nbsp;&nbsp; Trinitas CLO XXX Ltd., 10.57%, <br> 10/23/37, (3-mo. CME Term SOFR + <br> 6.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1494332 |
| &nbsp;&nbsp;&nbsp; Trinitas CLO XXXI Ltd., 9.61%, <br> 01/22/38<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 978494 |
| Trinitas CLO XXXII Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 07/23/38, (3-mo. CME Term <br> SOFR + 1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3007062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.47%, 07/23/38, (3-mo. CME Term <br> SOFR + 5.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 973868 |
| Trinitas CLO XXXV Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.89%, 01/22/39, (3-mo. CME Term <br> SOFR + 1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2502560 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 01/22/39, (3-mo. CME Term <br> SOFR + 2.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1001751 |
| &nbsp;&nbsp;&nbsp; Truist Bank Auto Credit-Linked Notes Series, <br> 4.73%, 09/26/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,758 | 2757306 |
| &nbsp;&nbsp;&nbsp; Turquoise V Trust, 5.28%, <br> 06/12/67, (1-month BB Swap + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,440 | 1035176 |
| U.S. Bank N.A., 4.96%, 12/25/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,406 | 6342327 |
| &nbsp;&nbsp;&nbsp; Unique Pub Finance Co. PLC.(The) <br> Series N, , 6.46%, 03/30/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP3,548 | 4982281 |
| &nbsp;&nbsp;&nbsp; Unity-Peace Park CLO Ltd., 6.53%, <br> 04/20/35, (3-mo. CME Term SOFR + <br> 2.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 2954808 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| UPG HI Issuer Trust, 5.00%, 09/25/47<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,913 | $1899018 |
| &nbsp;&nbsp;&nbsp; Upgrade Master Pass-Thru Trust, 4.24%, <br> 03/15/34<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,295 | 2292468 |
| Upgrade Master Pass-Thru Trust Series |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 08/16/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,307 | 1309329 |
| &nbsp;&nbsp;&nbsp; 5.10%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,342 | 2332208 |
| &nbsp;&nbsp;&nbsp; 5.25%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD517 | 515960 |
| &nbsp;&nbsp;&nbsp; 4.55%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,085 | 3085153 |
| &nbsp;&nbsp;&nbsp; 4.98%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,826 | 1824544 |
| &nbsp;&nbsp;&nbsp; 5.91%, 12/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,428 | 2411173 |
| UPX HIL Issuer Trust, 5.16%, 01/25/47<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,377 | 4364648 |
| &nbsp;&nbsp;&nbsp; Valley Stream Park CLO Ltd., 5.53%, <br> 01/20/37, (3-mo. CME Term SOFR + <br> 1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,340 | 4344889 |
| &nbsp;&nbsp;&nbsp; Vantage Data Centers Germany Borrower <br> Lux SARL, 4.29%, 06/28/50<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR597 | 694257 |
| &nbsp;&nbsp;&nbsp; Vantage Data Centers Jersey Borrower <br> Spv Ltd.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.17%, 05/28/39<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP3,116 | 4251027 |
| &nbsp;&nbsp;&nbsp; 6.34%, 05/28/39<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP1,889 | 2516281 |
| VB-S1 Issuer LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.69%, 03/15/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD13,113 | 12821425 |
| &nbsp;&nbsp;&nbsp; 5.19%, 03/15/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,436 | 2411120 |
| Velocity PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 02/25/37, (1-day SONIA+ <br> 3.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP271 | 368769 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 02/25/37, (1-day SONIA+ <br> 0.88%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,950 | 4020598 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 02/25/37, (1-day SONIA+ <br> 1.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP319 | 434084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 02/25/37, (1-day SONIA+ <br> 1.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP381 | 518451 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 02/25/37, (1-day SONIA+ <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,563 | 2126875 |
| &nbsp;&nbsp;&nbsp; Venture 34 CLO Ltd., 4.95%, <br> 10/15/31, (3-mo. CME Term SOFR + <br> 1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,310 | 3313357 |
| &nbsp;&nbsp;&nbsp; Victory Street CLO I DAC, 5.65%, <br> 01/15/38, (3-mo. EURIBOR + 3.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,250 | 1480084 |
| &nbsp;&nbsp;&nbsp; Victory Street Clo II DAC, 5.20%, <br> 01/15/39, (3-mo. EURIBOR + 3.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,200 | 4943948 |
| Vista Point Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.68%, 05/25/54<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,126 | 1136605 |
| &nbsp;&nbsp;&nbsp; 5.30%, 11/25/55<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD10,700 | 10691016 |
| Voya CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 10/17/32, (3-mo. CME Term <br> SOFR + 1.91%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | 251548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.93%, 07/15/31, (3-mo. CME Term <br> SOFR + 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD26 | 25674 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 07/20/32, (3-mo. CME Term <br> SOFR + 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,045 | 2045602 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 01/20/38, (3-mo. CME Term <br> SOFR + 1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1002599 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 10/17/32, (3-mo. CME Term <br> SOFR + 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,899 | 2900403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 10/20/31, (3-mo. CME Term <br> SOFR + 0.96%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD362 | 361786 |
| &nbsp;&nbsp;&nbsp; 5.33%, 04/25/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,111 | 1113070 |
| &nbsp;&nbsp;&nbsp; Voya Euro CLO IV DAC, 5.30%, <br> 10/15/34, (3-mo. EURIBOR + 3.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR500 | 581584 |
| Warwick Capital CLO 1 Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 10/20/38, (3-mo. CME Term <br> SOFR + 1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2004154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.48%, 10/20/38, (3-mo. CME Term <br> SOFR + 2.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 1999324 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Warwick Capital CLO 5 Ltd., 5.04%, <br> 01/20/38, (3-mo. CME Term SOFR + <br> 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | $501263 |
| &nbsp;&nbsp;&nbsp; Warwick Capital CLO 6 Ltd., 5.11%, <br> 07/20/38, (3-mo. CME Term SOFR + <br> 1.43%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,620 | 1623101 |
| &nbsp;&nbsp;&nbsp; Washington Mutual Asset-Backed <br> Certificates Trust, 4.23%, <br> 02/25/37, (1-mo. CME Term SOFR + <br> 0.55%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,438 | 435799 |
| Wellfleet CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.09%, 07/15/37, (3-mo. CME Term <br> SOFR + 1.42%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 2002237 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.47%, 04/15/33, (3-mo. CME Term <br> SOFR + 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1499384 |
| &nbsp;&nbsp;&nbsp; Wellington Management CLO 4 Ltd., 4.83%, <br> 04/18/38, (3-mo. CME Term SOFR + <br> 1.15%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,500 | 3496473 |
| &nbsp;&nbsp;&nbsp; Whitebox CLO I Ltd., 4.85%, <br> 01/24/37, (3-mo. CME Term SOFR + <br> 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,435 | 4430119 |
| Whitebox CLO III Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.52%, 10/15/35, (3-mo. CME Term <br> SOFR + 2.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD750 | 749972 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.32%, 10/15/35, (3-mo. CME Term <br> SOFR + 5.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1459778 |
| &nbsp;&nbsp;&nbsp; Whitebox CLO V Ltd., 5.38%, <br> 07/20/38, (3-mo. CME Term SOFR + <br> 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1003157 |
| Wildwood Park CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 10/20/37, (3-mo. CME Term <br> SOFR + 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3005999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.43%, 10/20/37, (3-mo. CME Term <br> SOFR + 5.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 987945 |
| &nbsp;&nbsp;&nbsp; Wireless PropCo Funding LLC, 8.51%, <br> 06/25/55<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,225 | 9271878 |
| &nbsp;&nbsp;&nbsp; WISE CLO Ltd., 4.77%, 04/15/39, (3-mo. <br> CME Term SOFR + 1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 4996632 |
| &nbsp;&nbsp;&nbsp; Wonder Lake Park CLO Ltd., 4.96%, <br> 07/24/38, (3-mo. CME Term SOFR + <br> 1.29%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5012257 |
| Youni Italy SRL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.77%, 01/25/36, (1-mo. EURIBOR + <br> 0.81%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,501 | 4117992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 01/25/36, (1-mo. EURIBOR + <br> 2.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR392 | 459723 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.71%, 01/25/36, (1-mo. EURIBOR + <br> 1.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR208 | 243683 |
| **Total Asset-Backed Securities — 16.5%** <br>**(Cost: $2,766,593,906)** | **Total Asset-Backed Securities — 16.5%** <br>**(Cost: $2,766,593,906)** | 2783674968 |
| **Collateralized Mortgage Obligations** | **Collateralized Mortgage Obligations** | **Collateralized Mortgage Obligations** |
| **Asset-Backed Securities — 0.4%** | **Asset-Backed Securities — 0.4%** | **Asset-Backed Securities — 0.4%** |
| Domi BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.89%, 02/15/57, (3-mo. EURIBOR + <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR534 | 623591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.91%, 04/16/57, (3-mo. EURIBOR + <br> 0.71%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,397 | 1641791 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.09%, 02/15/57, (3-mo. EURIBOR + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR319 | 372802 |
| &nbsp;&nbsp;&nbsp; Edenbrook Mortgage Funding PLC, 4.62%, <br> 03/22/57, (1-day SONIA+ 0.87%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP545 | 743216 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** | **Asset-Backed Securities (continued)** |
| Fairbridge BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.97%, 02/24/62, (3-mo. EURIBOR + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,155 | $3709762 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.27%, 02/24/62, (3-mo. EURIBOR + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR362 | 423156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.82%, 02/24/62, (3-mo. EURIBOR + <br> 1.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR294 | 346185 |
| FIGRE Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.72%, 12/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,786 | 5821738 |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/25/53<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,926 | 4961359 |
| Hops Hill No. 5 PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 06/21/56, (1-day SONIA+ <br> 0.73%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP889 | 1207526 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 06/21/56, (1-day SONIA+ <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP249 | 337758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.19%, 06/21/56, (1-day SONIA+ <br> 1.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136229 |
| Jubilee Place 9 BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.14%, 10/17/61, (3-mo. EURIBOR + <br> 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR835 | 973652 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.34%, 10/17/61, (3-mo. EURIBOR + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR458 | 531127 |
| London Bridge Mortgages PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 03/20/67, (1-day SONIA+ <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP310 | 421368 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 03/20/67, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136025 |
| London Wall Mortgage Capital PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 05/15/57, (1-day SONIA + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP379 | 515793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/15/57, (1-day SONIA + <br> 2.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP282 | 383407 |
| Pierpont BTL PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.55%, 03/21/62, (1-day SONIA+ <br> 0.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP549 | 748679 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/21/62, (1-day SONIA+ <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP289 | 392698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/21/62, (1-day SONIA+ <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 135264 |
| RCKT Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.49%, 11/25/44<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,456 | 4470546 |
| &nbsp;&nbsp;&nbsp; 6.59%, 05/25/44<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,046 | 1056464 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.12%, 09/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,046 | 3040087 |
| &nbsp;&nbsp;&nbsp; 5.17%, 09/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 2991247 |
| &nbsp;&nbsp;&nbsp; 5.73%, 11/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD8,127 | 8161683 |
| Tower Bridge Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, 01/20/73, (1-day SONIA+ <br> 0.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,175 | 2957905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 12/20/66, (1-day SONIA + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP333 | 453250 |
| Vista Point Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/25/54<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,952 | 4946339 |
| &nbsp;&nbsp;&nbsp; 5.68%, 01/25/55<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD5,588 | 5610630 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/25/55<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 1008291 |
|  |  | 59259568 |
| **Financial — 0.0%** | **Financial — 0.0%** | **Financial — 0.0%** |
| &nbsp;&nbsp;&nbsp; Taurus 2025-4 UK DAC, 0.00% <br> 08/18/35<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP129 | 174845 |
| **Mortgage Securities — 0.2%** | **Mortgage Securities — 0.2%** | **Mortgage Securities — 0.2%** |
| PENN Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.34%, 08/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,364 | 6463724 |
| &nbsp;&nbsp;&nbsp; 6.51%, 08/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,516 | 5734713 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage Securities (continued)** | **Mortgage Securities (continued)** | **Mortgage Securities (continued)** |
| PRPM 2025-NQM3 Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.61%, 05/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10,474 | $10518706 |
| &nbsp;&nbsp;&nbsp; 6.87%, 05/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,018 | 3019126 |
|  |  | 25736269 |
| **Mortgage-Backed Securities — 21.0%** | **Mortgage-Backed Securities — 21.0%** | **Mortgage-Backed Securities — 21.0%** |
| 1301 Trust, 8.37%, 08/11/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,445 | 6692444 |
| 1345T |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 06/15/42, (1-mo. CME Term <br> SOFR + 1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD13,575 | 13575000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.15%, 06/15/42, (1-mo. CME Term <br> SOFR + 4.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,711 | 11795313 |
| 2023-MIC Trust (The), 8.73%, 12/05/38<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,040 | 6429750 |
| &nbsp;&nbsp;&nbsp; 280 Park Avenue Mortgage Trust, Series <br> 2017-280P, Class A, 4.84%, 09/15/34, <br> (1-mo. CME Term SOFR + 1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,941 | 2935486 |
| A&D Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.91%, 02/25/71<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,046 | 5999741 |
| &nbsp;&nbsp;&nbsp; 5.46%, 08/25/69<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,196 | 1199024 |
| &nbsp;&nbsp;&nbsp; 5.70%, 11/25/69<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,190 | 5215360 |
| &nbsp;&nbsp;&nbsp; 5.79%, 06/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,032 | 4058959 |
| &nbsp;&nbsp;&nbsp; 6.20%, 02/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD524 | 526941 |
| ACRA Trust, 5.61%, 10/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD5,011 | 5028477 |
| ADMT, 5.67%, 01/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD8,463 | 8507496 |
| Aesir European Loan Conduit No. 41 DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 01/23/36, (1-day SONIA+ <br> 1.23%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP3,619 | 4898645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 01/23/36, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP870 | 1178274 |
| AFG Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 10/10/57, (1-month BB Swap + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD11,592 | 8306271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 10/10/57, (1-month BB Swap + <br> 1.08%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,420 | 1014928 |
| &nbsp;&nbsp;&nbsp; Ajax Mortgage Loan Trust, 3.50%, <br> 03/27/62<sup>(a)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,810 | 2721150 |
| ALA Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/15/40, (1-mo. CME Term <br> SOFR + 1.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,577 | 7605414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 06/15/40, (1-mo. CME Term <br> SOFR + 3.09%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,559 | 4570397 |
| &nbsp;&nbsp;&nbsp; Alternative Loan Trust, 5.12%, 02/25/35, <br> (1-mo. CME Term SOFR + 2.74%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,343 | 3112294 |
| Angel Oak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.95%, 07/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD22,621 | 19690518 |
| &nbsp;&nbsp;&nbsp; 0.99%, 04/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD7,553 | 6551616 |
| &nbsp;&nbsp;&nbsp; 1.07%, 05/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,167 | 5356387 |
| &nbsp;&nbsp;&nbsp; 1.19%, 04/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD219 | 191141 |
| &nbsp;&nbsp;&nbsp; 1.21%, 07/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,714 | 2369312 |
| &nbsp;&nbsp;&nbsp; 1.31%, 05/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,964 | 1718892 |
| &nbsp;&nbsp;&nbsp; 1.31%, 07/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,283 | 1119720 |
| &nbsp;&nbsp;&nbsp; 1.45%, 04/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,296 | 2011870 |
| &nbsp;&nbsp;&nbsp; 1.47%, 06/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD111 | 108104 |
| &nbsp;&nbsp;&nbsp; 2.04%, 06/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD243 | 237132 |
| &nbsp;&nbsp;&nbsp; 3.86%, 01/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,985 | 1845728 |
| &nbsp;&nbsp;&nbsp; 3.88%, 12/25/66<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,414 | 1331214 |
| &nbsp;&nbsp;&nbsp; 4.04%, 01/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD533 | 507672 |
| &nbsp;&nbsp;&nbsp; 4.12%, 01/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD7,849 | 7292030 |
| &nbsp;&nbsp;&nbsp; 4.75%, 09/26/67<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,052 | 4042675 |
| &nbsp;&nbsp;&nbsp; 4.80%, 11/26/68<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,286 | 2270688 |
| &nbsp;&nbsp;&nbsp; 5.14%, 09/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD5,187 | 5185513 |
| &nbsp;&nbsp;&nbsp; 5.21%, 08/25/68<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,058 | 1056278 |
| &nbsp;&nbsp;&nbsp; 5.35%, 10/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD5,677 | 5690477 |
| &nbsp;&nbsp;&nbsp; 5.41%, 07/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD6,734 | 6769024 |
| &nbsp;&nbsp;&nbsp; 5.57%, 04/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD9,200 | 9249355 |
| &nbsp;&nbsp;&nbsp; 5.64%, 02/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,647 | 3668652 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; 5.65%, 10/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD10,218 | $10274780 |
| &nbsp;&nbsp;&nbsp; 5.69%, 01/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,925 | 2944110 |
| &nbsp;&nbsp;&nbsp; 5.70%, 08/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,518 | 2533091 |
| &nbsp;&nbsp;&nbsp; 5.99%, 01/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,322 | 1327792 |
| &nbsp;&nbsp;&nbsp; 6.20%, 01/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,408 | 1418512 |
| &nbsp;&nbsp;&nbsp; 6.50%, 12/25/67<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD171 | 171723 |
| AOMT 2024-6, 4.65%, 11/25/67<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD819 | 814927 |
| &nbsp;&nbsp;&nbsp; Arbor Multifamily Mortgage Securities Trust, <br> 1.75%, 05/15/53<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD190 | 156547 |
| Ares Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 07/15/41, (1-mo. CME Term <br> SOFR + 1.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,030 | 8045056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 03/15/38, (1-mo. CME Term <br> SOFR + 3.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.59%, 07/15/41, (1-mo. CME Term <br> SOFR + 3.94%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1500217 |
| &nbsp;&nbsp;&nbsp; ARES1 2024-IND2, 5.10%, 10/15/34, (1-mo. <br> CME Term SOFR + 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,970 | 11988703 |
| Arroyo Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.96%, 10/25/48<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD315 | 302223 |
| &nbsp;&nbsp;&nbsp; 3.81%, 01/25/49<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD344 | 336380 |
| ARZ Trust, 5.77%, 06/11/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,292 | 4348140 |
| &nbsp;&nbsp;&nbsp; Atlas Funding, 0.00% 01/20/68, (1-day <br> SONIA+ 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP216 | 293918 |
| Atlas Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 07/20/67, (1-day SONIA+ <br> 0.79%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP5,064 | 6890702 |
| &nbsp;&nbsp;&nbsp; 4.59%, 09/20/61<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; GBP435 | 593563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 07/20/67, (1-day SONIA+ <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP632 | 860386 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 09/20/61, (1-day SONIA+ <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP101 | 137992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 07/20/67, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP195 | 265244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 09/20/61, (1-day SONIA+ <br> 1.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 137248 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.71%, 07/20/67, (1-day SONIA+ <br> 2.97%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP651 | 885600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.81%, 07/20/67, (1-day SONIA+ <br> 3.07%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP499 | 680731 |
| ATLX Trust, 3.85%, 04/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD6,039 | 5877943 |
| Atrium Hotel Portfolio Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/15/42, (1-mo. CME Term <br> SOFR + 1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,431 | 5439407 |
| &nbsp;&nbsp;&nbsp; 5.59%, 11/10/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD7,900 | 7980518 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.15%, 08/15/42, (1-mo. CME Term <br> SOFR + 5.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,168 | 8087904 |
| &nbsp;&nbsp;&nbsp; 9.52%, 11/10/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,855 | 5008270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.40%, 08/15/42, (1-mo. CME Term <br> SOFR + 6.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,467 | 1452971 |
| BAHA Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.17%, 12/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD13,995 | 14303293 |
| &nbsp;&nbsp;&nbsp; 7.07%, 12/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,160 | 2232271 |
| &nbsp;&nbsp;&nbsp; 7.77%, 12/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD8,225 | 8480355 |
| &nbsp;&nbsp;&nbsp; 9.20%, 12/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 2094408 |
| &nbsp;&nbsp;&nbsp; BAMLL Commercial Mortgage <br> Securities Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.36%, 05/05/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,390 | 2390000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 09/15/40, (1-mo. CME Term <br> SOFR + 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,437 | 8442273 |
| &nbsp;&nbsp;&nbsp; BAMLL Trust, 6.00%, 08/15/39, (1-mo. CME <br> Term SOFR + 2.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,800 | 1803253 |
| &nbsp;&nbsp;&nbsp; Bank of America Merrill Lynch Commercial <br> Mortgage Trust, 3.75%, 02/15/50<br>| &nbsp;&nbsp;&nbsp; USD420 | 416185 |
| Bank5, 6.23%, 05/15/57 | &nbsp;&nbsp;&nbsp; USD2,189 | 2273990 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Barclays Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.92%, 01/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD25,276 | $25624965 |
| &nbsp;&nbsp;&nbsp; 5.14%, 10/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD15,419 | 15330888 |
| &nbsp;&nbsp;&nbsp; 5.23%, 12/25/64<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD18,112 | 18441719 |
| &nbsp;&nbsp;&nbsp; 5.54%, 05/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD27,605 | 28291985 |
| &nbsp;&nbsp;&nbsp; 5.64%, 05/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD17,859 | 17956688 |
| &nbsp;&nbsp;&nbsp; 5.90%, 01/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,141 | 2150227 |
| &nbsp;&nbsp;&nbsp; BAY Mortgage Trust, 5.46%, 05/15/35, <br> (1-mo. CME Term SOFR + 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,140 | 9140000 |
| &nbsp;&nbsp;&nbsp; Bayview Commercial Mortgage <br> Pass-Through Trust, 5.44%, 04/25/36, <br> (1-mo. CME Term SOFR + 1.76%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD789 | 773243 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.44%, 09/15/55 | &nbsp;&nbsp;&nbsp; USD1,100 | 1067544 |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/15/58<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,385 | 1850832 |
| &nbsp;&nbsp;&nbsp; 5.30%, 12/15/58 | &nbsp;&nbsp;&nbsp; USD785 | 798710 |
| &nbsp;&nbsp;&nbsp; 5.84%, 07/15/58<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,100 | 2159149 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-TALL, Class A, 4.57%, <br> 03/15/37, (1-mo. CME Term SOFR + <br> 0.92%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 3780000 |
| &nbsp;&nbsp;&nbsp; Benchmark Mortgage Trust, 1.05%, <br> 07/15/56<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,996 | 45588 |
| BFLD Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.83%, 10/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,576 | 4543532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 11/15/41, (1-mo. CME Term <br> SOFR + 1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,340 | 5343337 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 11/15/42, (1-mo. CME Term <br> SOFR + 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,248 | 7252530 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 11/15/42, (1-mo. CME Term <br> SOFR + 2.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,108 | 2109318 |
| &nbsp;&nbsp;&nbsp; 10.15%, 10/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD12,050 | 12327818 |
| BFLD Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/15/42, (1-mo. CME Term <br> SOFR + 1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,385 | 8374547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 06/15/42, (1-mo. CME Term <br> SOFR + 2.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,210 | 1205476 |
| &nbsp;&nbsp;&nbsp; 6.88%, 10/10/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,877 | 1868809 |
| &nbsp;&nbsp;&nbsp; BHMS Commercial Mortgage Trust, 5.50%, <br> 08/15/42, (1-mo. CME Term SOFR + <br> 1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD16,846 | 16867057 |
| &nbsp;&nbsp;&nbsp; BINOM Securitization Trust, 2.03%, <br> 06/25/56<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,237 | 1136865 |
| Bletchley Park Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 01/27/70, (1-day SONIA+ <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP366 | 499184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 01/27/70, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 01/27/70, (1-day SONIA+ <br> 1.88%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP131 | 179411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.12%, 01/27/70, (1-day SONIA+ <br> 3.38%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP180 | 245387 |
| &nbsp;&nbsp;&nbsp; BLP Commercial Mortgage Trust, 5.00%, <br> 03/15/41, (1-mo. CME Term SOFR + <br> 1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,292 | 4294528 |
| BMP Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 06/15/41, (1-mo. CME Term <br> SOFR + 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,555 | 6555000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.04%, 06/15/41, (1-mo. CME Term <br> SOFR + 3.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,380 | 2375643 |
| &nbsp;&nbsp;&nbsp; BOCA Commercial Mortgage Trust, 5.25%, <br> 12/15/42, (1-mo. CME Term SOFR + <br> 1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD13,350 | 13366687 |
| BOS Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.22%, 05/11/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,323 | 2313903 |
| &nbsp;&nbsp;&nbsp; 8.04%, 05/11/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 996367 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| BPR Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.11%, 11/05/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD12,500 | $12360247 |
| &nbsp;&nbsp;&nbsp; 7.23%, 11/05/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,050 | 4193645 |
| BPR Mortgage Trust, 7.50%, 12/05/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,250 | 5401319 |
| Braccan Mortgage Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 01/17/68, (1-day SONIA+ <br> 0.86%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP9,829 | 13398710 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 01/17/68, (1-day SONIA+ <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,446 | 1971442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 01/17/68, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP382 | 520003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 01/17/68, (1-day SONIA+ <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP336 | 457649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 04/17/68, (1-day SONIA+ <br> 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP6,497 | 8854865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 04/17/68, (1-day SONIA+ <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,168 | 2953156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 04/17/68, (1-day SONIA+ <br> 1.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP894 | 1218117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 04/17/68, (1-day SONIA+ <br> 1.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP544 | 741458 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 02/15/67, (1-day SONIA+ <br> 0.84%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,058 | 1441457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 05/17/67, (1-day SONIA + <br> 0.84%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP871 | 1187009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 05/17/67, (1-day SONIA+ <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP182 | 247659 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/15/67, (1-day SONIA+ <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP405 | 552581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/17/67, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP104 | 141673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.09%, 02/15/67, (1-day SONIA+ <br> 4.34%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP320 | 436996 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.44%, 03/25/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD149 | 147114 |
| &nbsp;&nbsp;&nbsp; 1.96%, 04/25/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,283 | 1196138 |
| &nbsp;&nbsp;&nbsp; 4.30%, 08/01/53<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD9,140 | 9000848 |
| &nbsp;&nbsp;&nbsp; 4.35%, 01/25/60<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,259 | 1243805 |
| &nbsp;&nbsp;&nbsp; 4.35%, 01/25/60<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD839 | 824156 |
| &nbsp;&nbsp;&nbsp; 4.77%, 11/25/65<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,200 | 3172354 |
| &nbsp;&nbsp;&nbsp; 5.57%, 03/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,007 | 1012559 |
| &nbsp;&nbsp;&nbsp; 5.60%, 12/25/64<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10,264 | 10323435 |
| &nbsp;&nbsp;&nbsp; 5.61%, 02/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD10,346 | 10412653 |
| &nbsp;&nbsp;&nbsp; 5.68%, 11/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,520 | 2536277 |
| &nbsp;&nbsp;&nbsp; 6.19%, 03/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD865 | 870635 |
| &nbsp;&nbsp;&nbsp; 7.91%, 02/25/64<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,300 | 1320815 |
| &nbsp;&nbsp;&nbsp; 8.27%, 10/25/63<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,186 | 4220684 |
| BRCK Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.96%, 12/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,355 | 5319505 |
| &nbsp;&nbsp;&nbsp; 7.51%, 12/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,099 | 9253836 |
| &nbsp;&nbsp;&nbsp; 8.40%, 12/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,100 | 4092268 |
| &nbsp;&nbsp;&nbsp; BRES Commercial Mortgage Trust, 5.15%, <br> 11/15/42, (1-mo. CME Term SOFR + <br> 1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,581 | 6571222 |
| &nbsp;&nbsp;&nbsp; BSTN Commercial Mortgage Trust, 5.06%, <br> 04/13/41<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,820 | 1817034 |
| BWAY Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.45%, 03/10/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,750 | 2543754 |
| &nbsp;&nbsp;&nbsp; 3.63%, 03/10/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,600 | 1440926 |
| &nbsp;&nbsp;&nbsp; 4.06%, 03/10/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 854743 |
| &nbsp;&nbsp;&nbsp; 6.52%, 05/05/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,867 | 5927641 |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/15/41, (1-mo. CME Term <br> SOFR + 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,126 | 4130047 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 11/15/42, (1-mo. CME Term <br> SOFR + 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD14,991 | $15019177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/15/39, (1-mo. CME Term <br> SOFR + 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,476 | 4480421 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/15/39, (1-mo. CME Term <br> SOFR + 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,239 | 8244304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/15/40, (1-mo. CME Term <br> SOFR + 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,057 | 8062340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 10/15/41, (1-mo. CME Term <br> SOFR + 1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,043 | 6054165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 03/15/34, (1-mo. CME Term <br> SOFR + 1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,383 | 1380290 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 05/15/34, (1-mo. CME Term <br> SOFR + 1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,927 | 5932179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/15/41, (1-mo. CME Term <br> SOFR + 1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,604 | 5609409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 12/15/39, (1-mo. CME Term <br> SOFR + 1.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,443 | 2447151 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 05/15/41, (1-mo. CME Term <br> SOFR + 1.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,200 | 7202270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 08/15/41, (1-mo. CME Term <br> SOFR + 1.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,203 | 10231616 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/45, (1-mo. CME Term <br> SOFR + 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD12,205 | 12182116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 04/15/40, (1-mo. CME Term <br> SOFR + 1.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,540 | 5543029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 10/15/41, (1-mo. CME Term <br> SOFR + 1.79%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,837 | 3846312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55%, 12/15/39, (1-mo. CME Term <br> SOFR + 1.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD706 | 706815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 03/15/41, (1-mo. CME Term <br> SOFR + 2.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,238 | 3239523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.54%, 10/15/41, (1-mo. CME Term <br> SOFR + 2.88%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,465 | 6485107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 03/15/43, (1-mo. CME Term <br> SOFR + 3.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,900 | 5863319 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.05%, 11/15/42, (1-mo. CME Term <br> SOFR + 3.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,117 | 4122155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.39%, 02/15/39, (1-mo. CME Term <br> SOFR + 3.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,328 | 1324056 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 02/15/36, (1-mo. CME Term <br> SOFR + 1.16%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD521 | 521236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 10/15/42, (1-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,394 | 5394000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/15/41, (1-mo. CME Term <br> SOFR + 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,739 | 3746503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/15/42, (1-mo. CME Term <br> SOFR + 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,242 | 8205941 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 04/15/37, (1-mo. CME Term <br> SOFR + 1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,556 | 1555623 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/15/40, (1-mo. CME Term <br> SOFR + 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,580 | 3586705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/15/41, (1-mo. CME Term <br> SOFR + 1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,565 | 10532039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 06/15/37, (1-mo. CME Term <br> SOFR + 1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,163 | 9162917 |
| &nbsp;&nbsp;&nbsp; 5.20%, 12/13/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,813 | 6858913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 01/15/39, (1-mo. CME Term <br> SOFR + 1.58%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD46 | 45647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 12/15/44, (1-mo. CME Term <br> SOFR + 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD15,885 | 15875072 |
| &nbsp;&nbsp;&nbsp; 6.08%, 06/13/47<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10,000 | 9984615 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 04/15/41, (1-mo. CME Term <br> SOFR + 2.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,269 | $1269865 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.35%, 01/15/39, (1-mo. CME Term <br> SOFR + 2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,450 | 2449234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 03/15/30, (1-mo. CME Term <br> SOFR + 2.94%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,197 | 4196867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.95%, 06/15/35, (1-mo. CME Term <br> SOFR + 3.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,130 | 5130054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.59%, 06/15/41, (1-mo. CME Term <br> SOFR + 3.94%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,675 | 5617967 |
| BXP Trust, 2.87%, 01/15/44<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 2433601 |
| CAFL Issuer LLC, 6.75%, 11/28/31<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 3019126 |
| &nbsp;&nbsp;&nbsp; Cali, 5.55%, 07/15/41, (1-mo. CME Term <br> SOFR + 1.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,580 | 4586929 |
| Castell PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 12/27/62, (1-day SONIA+ <br> 0.89%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP4,244 | 5784793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 12/27/62, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP521 | 712825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 01/27/62, (1-day SONIA+ <br> 0.97%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP589 | 804589 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.99%, 01/27/62, (1-day SONIA+ <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP134 | 183338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.29%, 01/27/62, (1-day SONIA+ <br> 1.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 137481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 01/27/62, (1-day SONIA+ <br> 2.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 137968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.24%, 01/27/62, (1-day SONIA+ <br> 3.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP121 | 167136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.89%, 01/27/62, (1-day SONIA+ <br> 4.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP60 | 81869 |
| CD Mortgage Trust, 4.51%, 08/15/51<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD430 | 421743 |
| &nbsp;&nbsp;&nbsp; CEDR Commercial Mortgage Trust, 4.64%, <br> 02/15/39, (1-mo. CME Term SOFR + <br> 0.99%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,780 | 3740509 |
| CENT, 5.09%, 07/10/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD7,335 | 7369087 |
| &nbsp;&nbsp;&nbsp; CFCRE Commercial Mortgage Trust, 3.69%, <br> 05/10/58<br>| &nbsp;&nbsp;&nbsp; USD236 | 234957 |
| CFK Trust, 2.39%, 03/15/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD500 | 466120 |
| CFMT LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 06/25/34<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD315 | 305327 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/25/54<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,430 | 3365810 |
| Chase Home Lending Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,090 | 1098849 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,585 | 2597119 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD969 | 971989 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD331 | 332500 |
| &nbsp;&nbsp;&nbsp; Chase Home Lending Mortgage Trust <br> Series, 5.50%, 09/25/56<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD12,132 | 12136524 |
| Cheshire PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 06/28/48, (1-day SONIA+ <br> 0.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,643 | 2231760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 06/28/48, (1-day SONIA+ <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP386 | 525971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 06/28/48, (1-day SONIA+ <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP166 | 226467 |
| &nbsp;&nbsp;&nbsp; CHI Commercial Mortgage Trust, 5.10%, <br> 12/13/40<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,708 | 9653924 |
| &nbsp;&nbsp;&nbsp; CHL Mortgage Pass-Through Trust, 6.00%, <br> 02/25/37<br>| &nbsp;&nbsp;&nbsp; USD4,845 | 1685450 |
| &nbsp;&nbsp;&nbsp; CHNGE Mortgage Trust, 4.01%, <br> 01/25/67<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,668 | 1608115 |
| CIM Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.43%, 07/25/61<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,517 | 5083936 |
| &nbsp;&nbsp;&nbsp; 5.66%, 10/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,674 | 2692173 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; 6.44%, 10/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,561 | $3580976 |
| &nbsp;&nbsp;&nbsp; 6.64%, 12/25/67<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD565 | 564421 |
| &nbsp;&nbsp;&nbsp; 6.76%, 12/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,095 | 5047666 |
| &nbsp;&nbsp;&nbsp; 7.04%, 04/25/58<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,095 | 5075430 |
| CIP Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 10/15/37, (1-mo. CME Term <br> SOFR + 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,606 | 9617932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.40%, 10/15/37, (1-mo. CME Term <br> SOFR + 3.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,905 | 4921904 |
| Citadel PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 04/28/60, (1-day SONIA + <br> 1.02%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,194 | 1628685 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.19%, 04/28/60, (1-day SONIA+ <br> 1.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.49%, 04/28/60, (1-day SONIA+ <br> 1.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 137124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.19%, 04/28/60, (1-day SONIA+ <br> 2.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 138018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.49%, 04/28/60, (1-day SONIA+ <br> 3.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 138193 |
| Citigroup Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.46%, 11/10/42<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD833 | 746921 |
| &nbsp;&nbsp;&nbsp; 4.41%, 06/10/51<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD425 | 419023 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.21%, 07/27/54<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD767 | 700120 |
| &nbsp;&nbsp;&nbsp; 1.33%, 10/26/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD628 | 597270 |
| &nbsp;&nbsp;&nbsp; 2.28%, 12/27/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD508 | 466753 |
| &nbsp;&nbsp;&nbsp; 3.45%, 02/25/67<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,058 | 2823414 |
| &nbsp;&nbsp;&nbsp; 3.90%, 02/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD128 | 125083 |
| &nbsp;&nbsp;&nbsp; 4.16%, 12/27/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD582 | 507606 |
| &nbsp;&nbsp;&nbsp; 5.05%, 11/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD12,117 | 12103492 |
| &nbsp;&nbsp;&nbsp; 5.12%, 08/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,571 | 4570870 |
| &nbsp;&nbsp;&nbsp; 5.39%, 11/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,028 | 4041122 |
| &nbsp;&nbsp;&nbsp; 5.47%, 06/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD6,778 | 6809775 |
| &nbsp;&nbsp;&nbsp; 5.54%, 12/26/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD5,812 | 5841150 |
| &nbsp;&nbsp;&nbsp; 5.61%, 05/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD6,589 | 6625271 |
| &nbsp;&nbsp;&nbsp; 5.79%, 04/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD9,739 | 9823708 |
| &nbsp;&nbsp;&nbsp; 5.84%, 02/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD867 | 869144 |
| &nbsp;&nbsp;&nbsp; 6.05%, 04/25/68<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD215 | 214313 |
| &nbsp;&nbsp;&nbsp; 6.46%, 02/25/71<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD282 | 279672 |
| &nbsp;&nbsp;&nbsp; 6.60%, 07/25/68<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,842 | 1841911 |
| &nbsp;&nbsp;&nbsp; 6.83%, 09/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,900 | 2894076 |
| &nbsp;&nbsp;&nbsp; 6.86%, 10/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 2996957 |
| &nbsp;&nbsp;&nbsp; 6.90%, 11/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 1992909 |
| &nbsp;&nbsp;&nbsp; 6.92%, 06/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,400 | 1401668 |
| &nbsp;&nbsp;&nbsp; 7.10%, 08/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,671 | 2678453 |
| &nbsp;&nbsp;&nbsp; 7.43%, 09/25/68<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD61 | 61219 |
| &nbsp;&nbsp;&nbsp; 7.79%, 09/25/68<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 2011066 |
| &nbsp;&nbsp;&nbsp; 7.85%, 06/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 2031656 |
| &nbsp;&nbsp;&nbsp; 8.07%, 05/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,900 | 1922122 |
| &nbsp;&nbsp;&nbsp; 8.22%, 10/25/68<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 2022466 |
| &nbsp;&nbsp;&nbsp; COLT Pass-Through Certificates, 0.86%, <br> 05/25/65<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,562 | 2337231 |
| Commission Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 08/10/40<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,783 | 5710418 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 06/15/41, (1-mo. CME Term <br> SOFR + 1.84%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,215 | 7205981 |
| &nbsp;&nbsp;&nbsp; 5.73%, 08/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,731 | 3703422 |
| &nbsp;&nbsp;&nbsp; 5.87%, 12/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD8,550 | 8557326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.24%, 06/15/41, (1-mo. CME Term <br> SOFR + 2.59%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,566 | 3561543 |
| &nbsp;&nbsp;&nbsp; 8.47%, 08/10/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,395 | 2376104 |
| CONE Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 08/15/41, (1-mo. CME Term <br> SOFR + 1.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,278 | 6272547 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.95%, 08/15/41, (1-mo. CME Term <br> SOFR + 2.29%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | $496630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.54%, 08/15/41, (1-mo. CME Term <br> SOFR + 3.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD690 | 684016 |
| &nbsp;&nbsp;&nbsp; Cross 2025-CES1 Mortgage Trust, 5.00%, <br> 11/25/70<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,546 | 4532706 |
| Cross Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 09/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,687 | 5692018 |
| &nbsp;&nbsp;&nbsp; 5.59%, 11/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,754 | 4777077 |
| &nbsp;&nbsp;&nbsp; 5.74%, 02/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD8,254 | 8310727 |
| &nbsp;&nbsp;&nbsp; 5.85%, 08/26/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,048 | 4074710 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD8,958 | 9041322 |
| &nbsp;&nbsp;&nbsp; 6.09%, 12/25/68<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD582 | 584306 |
| &nbsp;&nbsp;&nbsp; 6.09%, 04/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,096 | 3115057 |
| &nbsp;&nbsp;&nbsp; 6.13%, 03/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,091 | 2093247 |
| &nbsp;&nbsp;&nbsp; 6.48%, 02/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,979 | 2991584 |
| &nbsp;&nbsp;&nbsp; 7.52%, 09/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,878 | 2860564 |
| &nbsp;&nbsp;&nbsp; 7.56%, 07/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,636 | 1628135 |
| &nbsp;&nbsp;&nbsp; CRSNT Trust, 5.05%, 02/15/43, (1-mo. CME <br> Term SOFR + 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD14,460 | 14432961 |
| CSAIL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.59%, 12/15/52 | &nbsp;&nbsp;&nbsp; USD72 | 67147 |
| &nbsp;&nbsp;&nbsp; 3.61%, 06/15/52 | &nbsp;&nbsp;&nbsp; USD915 | 873737 |
| Csmc Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.17%, 07/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,908 | 4228649 |
| &nbsp;&nbsp;&nbsp; 3.27%, 11/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD7,262 | 6580216 |
| CSMC Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.83%, 03/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,033 | 1654024 |
| &nbsp;&nbsp;&nbsp; 2.13%, 02/25/43<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,097 | 972378 |
| &nbsp;&nbsp;&nbsp; 3.24%, 02/25/50<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,332 | 3195110 |
| &nbsp;&nbsp;&nbsp; 3.50%, 12/25/44<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD126 | 117825 |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/25/45<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD119 | 111043 |
| &nbsp;&nbsp;&nbsp; 4.05%, 12/15/49<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD900 | 884004 |
| &nbsp;&nbsp;&nbsp; 4.27%, 03/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,000 | 8093577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.92%, 11/15/38, (1-mo. CME Term <br> SOFR + 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,505 | 1491361 |
| CSTL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.71%, 11/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,910 | 2863688 |
| &nbsp;&nbsp;&nbsp; 4.92%, 11/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,816 | 2808823 |
| &nbsp;&nbsp;&nbsp; 6.55%, 02/10/43<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD8,000 | 7881687 |
| &nbsp;&nbsp;&nbsp; DBC Mortgage Trust, 5.01%, 11/15/42, <br> (1-mo. CME Term SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD12,748 | 12755967 |
| &nbsp;&nbsp;&nbsp; DBGS, 5.54%, 08/15/34, (1-mo. CME Term <br> SOFR + 1.88%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,820 | 7815112 |
| DBJPM Mortgage Trust, 3.56%, 06/10/50<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD250 | 243003 |
| DBMS DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 02/18/36, (1-day SONIA+ <br> 1.28%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP4,129 | 5613962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 02/18/36, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP735 | 997079 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 02/18/36, (1-day SONIA+ <br> 1.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP497 | 676159 |
| &nbsp;&nbsp;&nbsp; DBWF Mortgage Trust, 5.40%, 04/15/37, <br> (1-mo. CME Term SOFR + 1.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,998 | 1996956 |
| DC Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.93%, 04/13/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,440 | 2451533 |
| &nbsp;&nbsp;&nbsp; 7.98%, 04/13/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,250 | 3220103 |
| Deephaven Residential Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.72%, 05/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD867 | 842076 |
| &nbsp;&nbsp;&nbsp; 1.19%, 08/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD633 | 560971 |
| &nbsp;&nbsp;&nbsp; 4.80%, 12/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10,950 | 10883444 |
| &nbsp;&nbsp;&nbsp; 5.09%, 11/25/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10,991 | 10967143 |
| &nbsp;&nbsp;&nbsp; 5.48%, 02/25/71<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,653 | 1656394 |
| &nbsp;&nbsp;&nbsp; 5.74%, 07/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,788 | 2809893 |
| &nbsp;&nbsp;&nbsp; 6.57%, 12/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD574 | 565916 |
| &nbsp;&nbsp;&nbsp; 6.68%, 11/25/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,857 | 1833490 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; DGWD Trust, 5.25%, 08/15/35, (1-mo. CME <br> Term SOFR + 1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,366 | $7377415 |
| DK Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 03/15/34, (1-mo. CME Term <br> SOFR + 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,910 | 4910000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.26%, 08/15/37, (1-mo. CME Term <br> SOFR + 1.59%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,303 | 8310733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 03/15/34, (1-mo. CME Term <br> SOFR + 2.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,400 | 1400000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.56%, 08/15/37, (1-mo. CME Term <br> SOFR + 2.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,764 | 3766353 |
| Durst Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.32%, 08/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,861 | 3902029 |
| &nbsp;&nbsp;&nbsp; 7.02%, 08/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,095 | 2165150 |
| &nbsp;&nbsp;&nbsp; Dutch Property Finance BV, 2.94%, <br> 04/28/64, (3-mo. EURIBOR + 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR782 | 920412 |
| East One PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 02/25/58, (1-day SONIA+ <br> 0.97%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP7,135 | 9738548 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 02/25/58, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP383 | 522615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 02/25/58, (1-day SONIA+ <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP848 | 1162593 |
| &nbsp;&nbsp;&nbsp; Easy Street Mortgage Loan Trust, 5.61%, <br> 10/25/40<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,682 | 5688180 |
| EFMT |  |  |
| &nbsp;&nbsp;&nbsp; 4.77%, 02/25/71<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD7,894 | 7840634 |
| &nbsp;&nbsp;&nbsp; 4.96%, 02/25/71<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,122 | 1115937 |
| &nbsp;&nbsp;&nbsp; 5.03%, 11/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD15,382 | 15341543 |
| &nbsp;&nbsp;&nbsp; 5.10%, 10/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD14,358 | 14334831 |
| &nbsp;&nbsp;&nbsp; 5.39%, 05/26/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD7,850 | 7882381 |
| &nbsp;&nbsp;&nbsp; 5.44%, 07/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD10,554 | 10593263 |
| &nbsp;&nbsp;&nbsp; 5.71%, 11/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,591 | 3611249 |
| &nbsp;&nbsp;&nbsp; 6.45%, 08/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 3006993 |
| &nbsp;&nbsp;&nbsp; 6.54%, 02/25/71<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 989329 |
| &nbsp;&nbsp;&nbsp; 6.59%, 01/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,388 | 3412494 |
| &nbsp;&nbsp;&nbsp; 6.64%, 02/25/68<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD972 | 969660 |
| &nbsp;&nbsp;&nbsp; 6.65%, 03/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,804 | 1821400 |
| &nbsp;&nbsp;&nbsp; 6.84%, 10/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,125 | 3120481 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,983 | 1959865 |
| &nbsp;&nbsp;&nbsp; 7.43%, 01/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,232 | 3231957 |
| Ellington Financial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.24%, 09/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD526 | 441843 |
| &nbsp;&nbsp;&nbsp; 4.30%, 04/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,975 | 6953920 |
| &nbsp;&nbsp;&nbsp; 4.30%, 04/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,550 | 1470227 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/25/67<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,723 | 4708948 |
| &nbsp;&nbsp;&nbsp; 5.04%, 10/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD7,240 | 7221514 |
| &nbsp;&nbsp;&nbsp; 5.87%, 09/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD837 | 829292 |
| ELM Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.99%, 06/10/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,320 | 3322163 |
| &nbsp;&nbsp;&nbsp; 5.99%, 06/10/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,690 | 3692404 |
| &nbsp;&nbsp;&nbsp; 6.85%, 06/10/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,250 | 1248969 |
| Elstree 2026-1 Mix PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 09/21/66, (1-day SONIA+ <br> 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP4,710 | 6411688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 09/21/66, (1-day SONIA+ <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,447 | 1970692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 09/21/66, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP737 | 1003988 |
| &nbsp;&nbsp;&nbsp; Elstree Funding, 4.46%, 01/21/65, (1-day <br> SONIA+ 0.72%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,006 | 1368150 |
| &nbsp;&nbsp;&nbsp; Elstree Funding No. 5 PLC, 4.59%, <br> 08/21/61, (1-day SONIA+ 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP454 | 618902 |
| EQT Trust, 5.33%, 07/05/41<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,006 | 7101701 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; EverBank Mortgage Loan Trust, 2.50%, <br> 03/25/43<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD130 | $119630 |
| Exmoor Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.51%, 03/25/95, (1-day SONIA+ <br> 0.76%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP962 | 1307962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 03/25/94, (1-day SONIA+ <br> 0.88%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP467 | 637063 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/25/95, (1-day SONIA+ <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP240 | 326154 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/25/94, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP157 | 214818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 03/25/95, (1-day SONIA+ <br> 1.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP101 | 137324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 03/25/94, (1-day SONIA+ <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 03/25/95, (1-day SONIA+ <br> 2.38%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 135965 |
| Fannie Mae REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.86%, 12/25/54, (30-day Avg SOFR + <br> 1.20%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,588 | 7668829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 12/25/54, (30-day Avg SOFR + <br> 1.42%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,678 | 1700447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.11%, 02/25/55, (30-day Avg SOFR + <br> 1.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,781 | 7891775 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 10/25/54, (30-day Avg SOFR + <br> 1.35%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,891 | 3943016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/25/55, (30-day Avg SOFR + <br> 1.35%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,349 | 3389967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/25/55, (30-day Avg SOFR + <br> 1.35%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,849 | 3901401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/25/54, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,947 | 2983516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 12/25/54, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,267 | 2294893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 02/25/55, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,088 | 3132630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 03/25/55, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,087 | 3131431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/25/55, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,406 | 4470169 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/25/55, (30-day Avg SOFR + <br> 1.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,090 | 11254855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 02/25/55, (30-day Avg SOFR + <br> 1.50%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,330 | 4390255 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 05/25/55, (30-day Avg SOFR + <br> 1.50%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,939 | 4000098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/25/55, (30-day Avg SOFR + <br> 1.50%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,338 | 4406318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/25/55, (30-day Avg SOFR + <br> 1.50%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,988 | 3034490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/25/55, (30-day Avg SOFR + <br> 1.50%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,055 | 3103179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 06/25/55, (30-day Avg SOFR + <br> 1.50%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,031 | 4093600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/25/55, (30-day Avg SOFR + <br> 1.60%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,192 | 4253920 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. <br> Multifamily Structured <br> Pass-Through Certificates<br>|  |  |
| &nbsp;&nbsp;&nbsp; 0.26%, 06/25/33<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,245 | 80538 |
| &nbsp;&nbsp;&nbsp; 0.54%, 12/25/27<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD64,956 | 495288 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage <br> Corp. REMICS<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 09/25/54, (30-day Avg SOFR + <br> 1.00%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,172 | $8218429 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 10/25/54, (30-day Avg SOFR + <br> 1.06%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD17,177 | 17282003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 09/25/54, (30-day Avg SOFR + <br> 1.10%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,383 | 4413801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 10/25/54, (30-day Avg SOFR + <br> 1.10%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD17,333 | 17453880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/25/54, (30-day Avg SOFR + <br> 1.10%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,874 | 5914811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 11/25/54, (30-day Avg SOFR + <br> 1.10%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,281 | 5317837 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 10/25/54, (30-day Avg SOFR + <br> 1.15%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,619 | 9696363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 06/25/54, (30-day Avg SOFR + <br> 1.20%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,608 | 2636159 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 03/25/54, (30-day Avg SOFR + <br> 1.25%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,201 | 1215463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/25/55, (30-day Avg SOFR + <br> 1.35%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD18,442 | 18664910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 08/25/55, (30-day Avg SOFR + <br> 1.35%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,160 | 8261234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/25/54, (30-day Avg SOFR + <br> 1.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,551 | 4602932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 04/25/54, (30-day Avg SOFR + <br> 1.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,652 | 4712783 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 12/25/54, (30-day Avg SOFR + <br> 1.50%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,644 | 5732681 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. <br> STRIPS, 4.85%, 05/25/54, (30-day Avg <br> SOFR + 1.20%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,332 | 2357340 |
| Federal National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 01/25/54, (30-day Avg SOFR + <br> 1.05%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,388 | 6432880 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 08/25/53, (30-day Avg SOFR + <br> 1.10%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,407 | 6459811 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 09/25/54, (30-day Avg SOFR + <br> 1.10%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,493 | 4530056 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 02/25/55, (30-day Avg SOFR + <br> 1.35%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,265 | 4315267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01%, 03/25/55, (30-day Avg SOFR + <br> 1.35%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,525 | 2555003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 08/25/54, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,059 | 2088230 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 12/25/54, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,222 | 1239403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 12/25/54, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,053 | 6117944 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 12/25/54, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,675 | 3720523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 08/25/55, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,138 | 3184130 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.16%, 06/25/55, (30-day Avg SOFR + <br> 1.50%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,848 | 2892425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 06/25/55, (30-day Avg SOFR + <br> 1.55%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,344 | 5431364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.26%, 05/25/55, (30-day Avg SOFR + <br> 1.60%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,765 | 4844881 |
| &nbsp;&nbsp;&nbsp; Federal National Mortgage <br> Association REMICS<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.61%, 10/25/54, (30-day Avg SOFR + <br> 0.95%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD12,170 | 12227112 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 06/25/54, (30-day Avg SOFR + <br> 1.05%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,458 | $3481758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.71%, 06/25/54, (30-day Avg SOFR + <br> 1.05%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,162 | 3184492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 08/25/54, (30-day Avg SOFR + <br> 1.10%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,311 | 2330083 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.91%, 05/25/55, (30-day Avg SOFR + <br> 1.25%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD14,576 | 14739591 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 07/25/53, (30-day Avg SOFR + <br> 1.30%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,552 | 4606942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 06/25/54, (30-day Avg SOFR + <br> 1.30%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD17,596 | 17809842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96%, 03/25/55, (30-day Avg SOFR + <br> 1.30%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD22,551 | 22831632 |
| &nbsp;&nbsp;&nbsp; First Horizon Alternative Mortgage Securities <br> Trust, 4.58%, 01/25/37<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD814 | 627029 |
| Flagstar Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 10/25/49<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD128 | 115891 |
| &nbsp;&nbsp;&nbsp; 3.50%, 10/25/49<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD110 | 99335 |
| Fontainebleau Miami Beach Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 12/15/39, (1-mo. CME Term <br> SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,530 | 8535673 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.90%, 12/15/39, (1-mo. CME Term <br> SOFR + 4.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,600 | 6628875 |
| Frontier Mortgage Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 12/20/66, (1-day SONIA+ <br> 0.73%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,223 | 1662728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 12/20/66, (1-day SONIA+ <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP866 | 1175599 |
| FS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 02/15/41, (1-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,900 | 9896906 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.90%, 02/15/41, (1-mo. CME Term <br> SOFR + 3.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,900 | 2899690 |
| &nbsp;&nbsp;&nbsp; FS Trust, 5.10%, 03/15/41, (1-mo. CME <br> Term SOFR + 1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,000 | 6000000 |
| &nbsp;&nbsp;&nbsp; Gaea Mortgage Loan Trust, 6.75%, <br> 02/25/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD146 | 143648 |
| Galton Funding Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.41%, 01/25/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,766 | 3593619 |
| &nbsp;&nbsp;&nbsp; 2.96%, 10/25/59<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD117 | 116021 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.09%, 08/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,134 | 1804281 |
| &nbsp;&nbsp;&nbsp; 1.92%, 08/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD43 | 39689 |
| &nbsp;&nbsp;&nbsp; 2.56%, 04/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,637 | 1576496 |
| &nbsp;&nbsp;&nbsp; 2.89%, 12/27/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD787 | 727603 |
| &nbsp;&nbsp;&nbsp; 3.27%, 04/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD179 | 173816 |
| &nbsp;&nbsp;&nbsp; 3.47%, 05/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD578 | 436156 |
| &nbsp;&nbsp;&nbsp; 3.69%, 11/25/59<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD749 | 735933 |
| &nbsp;&nbsp;&nbsp; 3.92%, 02/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,336 | 4152644 |
| &nbsp;&nbsp;&nbsp; 3.94%, 04/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD116 | 113133 |
| &nbsp;&nbsp;&nbsp; 4.25%, 10/25/57<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,827 | 3646436 |
| &nbsp;&nbsp;&nbsp; 4.35%, 04/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,847 | 4611087 |
| &nbsp;&nbsp;&nbsp; 4.94%, 10/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,730 | 9678791 |
| &nbsp;&nbsp;&nbsp; 5.50%, 12/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,525 | 4520353 |
| &nbsp;&nbsp;&nbsp; 5.71%, 08/25/67<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD278 | 278208 |
| &nbsp;&nbsp;&nbsp; 6.00%, 05/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,075 | 9178375 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD220 | 221803 |
| &nbsp;&nbsp;&nbsp; 7.20%, 06/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 3013740 |
| GGP Trust, 4.83%, 03/05/43<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,000 | 4950645 |
| &nbsp;&nbsp;&nbsp; Government National Mortgage Association, <br> 4.89%, 01/20/55, (30-day Avg SOFR + <br> 1.25%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,677 | 3712152 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; Government National Mortgage <br> Association REMICS<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 03/20/54, (30-day Avg SOFR + <br> 1.00%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,729 | $1737867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.64%, 08/20/54, (30-day Avg SOFR + <br> 1.00%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,246 | 5281596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 06/20/54, (30-day Avg SOFR + <br> 1.15%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,139 | 3161333 |
| &nbsp;&nbsp;&nbsp; Great Wolf Trust, 5.20%, 03/15/39, (1-mo. <br> CME Term SOFR + 1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,370 | 1371713 |
| GS Mortgage Securities Corp. Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.60%, 09/10/37<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 955876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 03/15/28, (1-mo. CME Term <br> SOFR + 2.09%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,390 | 4388628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.31%, 11/25/41, (1-mo. CME Term <br> SOFR + 2.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,874 | 6874111 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.44%, 03/15/28, (1-mo. CME Term <br> SOFR + 2.79%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD580 | 579819 |
| &nbsp;&nbsp;&nbsp; 6.67%, 08/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,870 | 2859357 |
| &nbsp;&nbsp;&nbsp; 7.72%, 08/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,636 | 2610896 |
| &nbsp;&nbsp;&nbsp; GS Mortgage-Backed Securities Corp. Trust, <br> 6.60%, 02/25/66<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 989777 |
| GS Mortgage-Backed Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 12/25/51<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,923 | 1720909 |
| &nbsp;&nbsp;&nbsp; 2.50%, 06/25/52<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,175 | 1049625 |
| &nbsp;&nbsp;&nbsp; 3.75%, 07/25/61<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD811 | 791277 |
| &nbsp;&nbsp;&nbsp; 4.87%, 03/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,535 | 3514167 |
| &nbsp;&nbsp;&nbsp; 4.97%, 06/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD12,336 | 12292055 |
| &nbsp;&nbsp;&nbsp; 5.01%, 07/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD12,110 | 12033965 |
| &nbsp;&nbsp;&nbsp; 5.04%, 01/25/66<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD13,259 | 13200720 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD373 | 368544 |
| &nbsp;&nbsp;&nbsp; 6.74%, 06/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,873 | 1857793 |
| &nbsp;&nbsp;&nbsp; 6.74%, 07/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,667 | 1658515 |
| &nbsp;&nbsp;&nbsp; 6.74%, 01/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,780 | 1769512 |
| &nbsp;&nbsp;&nbsp; 6.77%, 10/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,658 | 1652315 |
| &nbsp;&nbsp;&nbsp; 6.87%, 11/25/65<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,475 | 1473873 |
| &nbsp;&nbsp;&nbsp; 7.25%, 10/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,326 | 1313926 |
| &nbsp;&nbsp;&nbsp; 7.36%, 11/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,568 | 1548316 |
| &nbsp;&nbsp;&nbsp; 7.61%, 03/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD708 | 699066 |
| &nbsp;&nbsp;&nbsp; GSAT Trust, 5.15%, 07/15/40, (1-mo. CME <br> Term SOFR + 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,475 | 9463188 |
| &nbsp;&nbsp;&nbsp; GWT Trust, 5.35%, 05/15/41, (1-mo. CME <br> Term SOFR + 1.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,555 | 4563541 |
| &nbsp;&nbsp;&nbsp; HarborView Mortgage Loan Trust, 3.98%, <br> 08/19/37, (1-mo. CME Term SOFR + <br> 0.31%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,911 | 1680155 |
| &nbsp;&nbsp;&nbsp; Harvest Commercial Capital Loan Trust, <br> 6.16%, 10/25/56<br>| &nbsp;&nbsp;&nbsp; USD2,314 | 2353517 |
| &nbsp;&nbsp;&nbsp; HIH Trust, 5.50%, 10/15/41, (1-mo. CME <br> Term SOFR + 1.84%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,744 | 3746242 |
| HILT Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 05/15/37, (1-mo. CME Term <br> SOFR + 1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,193 | 11193000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 05/15/37, (1-mo. CME Term <br> SOFR + 2.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,100 | 3100000 |
| Hilton USA Trust, 3.72%, 11/05/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 199176 |
| &nbsp;&nbsp;&nbsp; HLTN Commercial Mortgage Trust, 5.36%, <br> 04/15/41, (1-mo. CME Term SOFR + <br> 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3004688 |
| Homes Trust, 5.72%, 10/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD8,056 | 8102018 |
| HOMES Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.03%, 09/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD13,219 | 13169048 |
| &nbsp;&nbsp;&nbsp; 5.15%, 11/25/60<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,245 | 3243565 |
| &nbsp;&nbsp;&nbsp; 5.22%, 08/25/59<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,539 | 4546432 |
| &nbsp;&nbsp;&nbsp; 5.43%, 02/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD12,798 | 12836955 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; 5.63%, 02/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,088 | $5117739 |
| &nbsp;&nbsp;&nbsp; 6.39%, 01/25/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,286 | 2295183 |
| &nbsp;&nbsp;&nbsp; 6.52%, 01/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 2012393 |
| &nbsp;&nbsp;&nbsp; 6.79%, 09/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,900 | 2876556 |
| &nbsp;&nbsp;&nbsp; 6.90%, 08/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 3000899 |
| &nbsp;&nbsp;&nbsp; HONO Mortgage Trust, 4.92%, 10/15/36, <br> (1-mo. CME Term SOFR + 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,690 | 5629544 |
| HTL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.07%, 05/10/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,840 | 2861055 |
| &nbsp;&nbsp;&nbsp; 10.60%, 05/10/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 3044794 |
| &nbsp;&nbsp;&nbsp; Hudson Yards Mortgage Trust, 3.04%, <br> 12/10/41<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD400 | 374997 |
| &nbsp;&nbsp;&nbsp; ILPT Commercial Mortgage Trust, 5.47%, <br> 07/13/42<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,792 | 8878008 |
| &nbsp;&nbsp;&nbsp; INT Commercial Mortgage Trust, 5.04%, <br> 11/05/37<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,643 | 3639334 |
| &nbsp;&nbsp;&nbsp; INV Mortgage Trust, 5.40%, 11/15/41, <br> (1-mo. CME Term SOFR + 1.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,342 | 7277757 |
| &nbsp;&nbsp;&nbsp; J.P. Morgan Chase Commercial Mortgage <br> Securities Trust, 5.99%, 10/05/39<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5048656 |
| &nbsp;&nbsp;&nbsp; J.P. Morgan Mortgage Trust, 4.00%, <br> 12/25/52<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,000 | 1609761 |
| Japan Housing Finance Agency/Kiko |  |  |
| &nbsp;&nbsp;&nbsp; 0.32%, 01/10/57 | &nbsp;&nbsp;&nbsp; JPY80,282 | 368594 |
| &nbsp;&nbsp;&nbsp; 0.33%, 01/10/56 | &nbsp;&nbsp;&nbsp; JPY76,748 | 356158 |
| &nbsp;&nbsp;&nbsp; 0.36%, 07/10/56 | &nbsp;&nbsp;&nbsp; JPY76,665 | 356007 |
| &nbsp;&nbsp;&nbsp; 0.50%, 05/10/57 | &nbsp;&nbsp;&nbsp; JPY80,290 | 375471 |
| &nbsp;&nbsp;&nbsp; JP Morgan Chase Commercial Mortgage <br> Securities Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp; 2.95%, 09/06/38<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,180 | 1172846 |
| &nbsp;&nbsp;&nbsp; 5.35%, 11/09/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,020 | 6038304 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 03/15/40, (1-mo. CME Term <br> SOFR + 1.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,635 | 2635135 |
| &nbsp;&nbsp;&nbsp; 6.70%, 11/09/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,450 | 3442266 |
| &nbsp;&nbsp;&nbsp; 7.50%, 11/09/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,841 | 1835485 |
| &nbsp;&nbsp;&nbsp; 8.49%, 11/09/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,533 | 1526835 |
| JP Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.21%, 08/25/50, (1-mo. CME Term <br> SOFR + 3.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD368 | 4596 |
| &nbsp;&nbsp;&nbsp; 2.50%, 06/25/51<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD667 | 615409 |
| &nbsp;&nbsp;&nbsp; 2.93%, 05/25/52<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,177 | 1882142 |
| &nbsp;&nbsp;&nbsp; 3.50%, 08/25/47<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD875 | 797424 |
| &nbsp;&nbsp;&nbsp; 3.51%, 07/25/52<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD546 | 491698 |
| &nbsp;&nbsp;&nbsp; 4.70%, 10/26/48<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,257 | 1254856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.74%, 05/25/49, (1-mo. CME Term <br> SOFR + 1.06%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD19 | 18367 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,015 | 2991222 |
| &nbsp;&nbsp;&nbsp; 4.93%, 06/25/66<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,906 | 8839910 |
| &nbsp;&nbsp;&nbsp; 4.95%, 03/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,106 | 9069167 |
| &nbsp;&nbsp;&nbsp; 5.06%, 02/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD14,277 | 14239039 |
| &nbsp;&nbsp;&nbsp; 5.22%, 05/25/45<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD824 | 822569 |
| &nbsp;&nbsp;&nbsp; 5.39%, 12/25/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,615 | 8624891 |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 999348 |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,177 | 4194125 |
| &nbsp;&nbsp;&nbsp; 5.59%, 02/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD7,219 | 7251953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 08/25/50, (1-mo. CME Term <br> SOFR + 2.11%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD368 | 368848 |
| &nbsp;&nbsp;&nbsp; 5.99%, 07/25/64<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,722 | 1735432 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD521 | 524485 |
| &nbsp;&nbsp;&nbsp; 6.41%, 08/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,344 | 2356652 |
| &nbsp;&nbsp;&nbsp; 6.41%, 02/25/64<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,800 | 2817186 |
| &nbsp;&nbsp;&nbsp; 6.42%, 11/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,300 | 1302243 |
| &nbsp;&nbsp;&nbsp; 6.76%, 02/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,643 | 2621877 |
| &nbsp;&nbsp;&nbsp; 6.92%, 10/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 3001152 |
| &nbsp;&nbsp;&nbsp; 7.23%, 02/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,680 | 1641524 |
| &nbsp;&nbsp;&nbsp; 8.04%, 07/25/64<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD940 | 942425 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Jubilee Place 7 BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 09/18/62, (3-mo. EURIBOR + <br> 0.72%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,019 | $1195965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.21%, 09/18/62, (3-mo. EURIBOR + <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR257 | 301108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.56%, 09/18/62, (3-mo. EURIBOR + <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 117076 |
| &nbsp;&nbsp;&nbsp; Jubilee Place 8 BV, 3.41%, 03/17/62, (3-mo. <br> EURIBOR + 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR100 | 116453 |
| &nbsp;&nbsp;&nbsp; JW Commercial Mortgage Trust, 5.28%, <br> 06/15/39, (1-mo. CME Term SOFR + <br> 1.62%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,805 | 6805000 |
| &nbsp;&nbsp;&nbsp; JW Trust, 5.25%, 11/15/39, (1-mo. CME <br> Term SOFR + 1.59%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,360 | 4368175 |
| &nbsp;&nbsp;&nbsp; KRE Commercial Mortgage Trust, 5.50%, <br> 05/15/43, (1-mo. CME Term SOFR + <br> 1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD500 | 501250 |
| KSL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 12/15/39, (1-mo. CME Term <br> SOFR + 1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,974 | 6973710 |
| &nbsp;&nbsp;&nbsp; 5.55%, 06/15/42 | &nbsp;&nbsp;&nbsp; USD7,483 | 7480903 |
| &nbsp;&nbsp;&nbsp; 7.74%, 06/05/42 | &nbsp;&nbsp;&nbsp; USD8,585 | 8612338 |
| &nbsp;&nbsp;&nbsp; La Trobe Financial Capital Markets Trust, <br> 5.15%, 05/15/57, (1-month BB Swap + <br> 1.05%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,185 | 851207 |
| &nbsp;&nbsp;&nbsp; Lagarino European Loan Conduit No. 40 <br> DAC<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.61%, 06/22/37, (3-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,921 | 2249328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.26%, 06/22/37, (3-mo. EURIBOR + <br> 2.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR526 | 615082 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.76%, 06/22/37, (3-mo. EURIBOR + <br> 2.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR334 | 390892 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.66%, 06/22/37, (3-mo. EURIBOR + <br> 3.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR948 | 1108935 |
| &nbsp;&nbsp;&nbsp; Last Mile Logistics Pan Euro Finance DAC, <br> 4.70%, 08/17/33, (3-mo. EURIBOR + <br> 2.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,850 | 2168842 |
| &nbsp;&nbsp;&nbsp; Last Mile Securities PE DAC, 4.35%, <br> 08/17/31, (3-mo. EURIBOR + 2.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR915 | 1073628 |
| &nbsp;&nbsp;&nbsp; LBA Trust, 5.10%, 10/15/41, (1-mo. CME <br> Term SOFR + 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,389 | 4391710 |
| LEX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 03/15/43, (1-mo. CME Term <br> SOFR + 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,457 | 5450179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.35%, 03/15/43, (1-mo. CME Term <br> SOFR + 3.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,900 | 4853075 |
| LQR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 01/15/43, (1-mo. CME Term <br> SOFR + 1.60%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,542 | 3521144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.60%, 01/15/43, (1-mo. CME Term <br> SOFR + 3.95%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,320 | 7319927 |
| &nbsp;&nbsp;&nbsp; LUX, 6.34%, 08/15/40, (1-mo. CME Term <br> SOFR + 2.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD882 | 886236 |
| &nbsp;&nbsp;&nbsp; MAC Trust, 5.35%, 10/15/40, (1-mo. CME <br> Term SOFR + 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,700 | 10688663 |
| MAD Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.91%, 10/15/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,927 | 3908938 |
| &nbsp;&nbsp;&nbsp; 7.57%, 10/15/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,992 | 3996749 |
| MAIN Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.35%, 01/15/41, (1-mo. CME Term <br> SOFR + 1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,900 | 9899951 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.90%, 01/15/41, (1-mo. CME Term <br> SOFR + 4.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,400 | 1399985 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.90%, 01/15/41, (1-mo. CME Term <br> SOFR + 5.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,400 | $1399981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.90%, 01/15/41, (1-mo. CME Term <br> SOFR + 7.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,600 | 1599967 |
| MCR Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 02/15/37, (1-mo. CME Term <br> SOFR + 1.76%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD894 | 893217 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 12/15/41, (1-mo. CME Term <br> SOFR + 1.79%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,261 | 5267588 |
| &nbsp;&nbsp;&nbsp; 5.92%, 06/12/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,800 | 4830010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.76%, 02/15/37, (1-mo. CME Term <br> SOFR + 3.11%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,813 | 1810572 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.56%, 02/15/37, (1-mo. CME Term <br> SOFR + 3.91%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,652 | 1644227 |
| Meridian Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.59%, 02/20/68, (1-day SONIA+ <br> 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,430 | 3307615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.04%, 02/20/68, (1-day SONIA+ <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP497 | 676061 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 02/20/68, (1-day SONIA+ <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP570 | 774382 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 02/20/68, (1-day SONIA+ <br> 2.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP470 | 639219 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.99%, 02/20/68, (1-day SONIA+ <br> 3.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP559 | 757689 |
| MF1 Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.73%, 12/15/34, (1-mo. CME Term <br> SOFR + 1.07%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD130 | 129354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 12/15/34, (1-mo. CME Term <br> SOFR + 1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | 99379 |
| MFA Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.47%, 11/25/64<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,551 | 3219681 |
| &nbsp;&nbsp;&nbsp; 3.30%, 08/25/49<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD185 | 179961 |
| &nbsp;&nbsp;&nbsp; 4.30%, 12/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,703 | 2429986 |
| &nbsp;&nbsp;&nbsp; 5.05%, 02/25/71<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,734 | 9704979 |
| &nbsp;&nbsp;&nbsp; 5.23%, 08/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD18,131 | 18142981 |
| &nbsp;&nbsp;&nbsp; 5.26%, 08/25/70<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,118 | 8131350 |
| &nbsp;&nbsp;&nbsp; 5.27%, 08/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,045 | 4050275 |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/25/67<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,300 | 5307792 |
| &nbsp;&nbsp;&nbsp; 6.11%, 12/25/68<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,724 | 1731632 |
| &nbsp;&nbsp;&nbsp; 6.13%, 08/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD632 | 632063 |
| &nbsp;&nbsp;&nbsp; 6.58%, 03/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD959 | 969032 |
| &nbsp;&nbsp;&nbsp; 6.93%, 08/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,850 | 1873600 |
| MFRA Trust, 6.67%, 12/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,529 | 3574192 |
| &nbsp;&nbsp;&nbsp; MHP Commercial Mortgage Trust, 7.15%, <br> 09/15/40, (1-mo. CME Term SOFR + <br> 3.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5006207 |
| MHP Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 07/15/38, (1-mo. CME Term <br> SOFR + 0.81%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,720 | 4717050 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 07/15/38, (1-mo. CME Term <br> SOFR + 1.01%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,300 | 1299188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.82%, 07/15/38, (1-mo. CME Term <br> SOFR + 1.16%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD215 | 214866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 07/15/38, (1-mo. CME Term <br> SOFR + 1.46%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD215 | 214866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 07/15/38, (1-mo. CME Term <br> SOFR + 1.86%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD350 | 349781 |
| &nbsp;&nbsp;&nbsp; Mill City Mortgage Loan Trust, 5.46%, <br> 10/25/62<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD16,704 | 16730390 |
| &nbsp;&nbsp;&nbsp; Miltonia Mortgage Finance SRL, 3.34%, <br> 04/28/62, (3-mo. EURIBOR + 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | 235061 |
| MIRA Trust, 6.75%, 06/10/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD103 | 105712 |
| &nbsp;&nbsp;&nbsp; MLTI Trust, 5.05%, 03/15/36, (1-mo. CME <br> Term SOFR + 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,138 | 8127868 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Molossus Btl PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 03/17/63, (1-day SONIA+ <br> 0.83%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP8,269 | $11262430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 03/17/63, (1-day SONIA+ <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,626 | 2212453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 03/17/63, (1-day SONIA+ <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP161 | 218939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 03/17/63, (1-day SONIA+ <br> 1.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP156 | 212573 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.52%, 07/15/52 | &nbsp;&nbsp;&nbsp; USD895 | 850885 |
| &nbsp;&nbsp;&nbsp; 3.70%, 06/15/52 | &nbsp;&nbsp;&nbsp; USD895 | 852975 |
| &nbsp;&nbsp;&nbsp; 3.89%, 12/15/50<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD230 | 225363 |
| &nbsp;&nbsp;&nbsp; 4.43%, 07/15/51<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD650 | 640315 |
| &nbsp;&nbsp;&nbsp; 4.62%, 07/15/51<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD182 | 177488 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.22%, 12/15/38, (1-mo. CME Term <br> SOFR + 1.56%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,338 | 3137720 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Residential Mortgage <br> Loan Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD19,067 | 18564198 |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,641 | 1535248 |
| &nbsp;&nbsp;&nbsp; 4.93%, 01/25/71<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,900 | 9854672 |
| &nbsp;&nbsp;&nbsp; 5.04%, 07/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,525 | 4524149 |
| &nbsp;&nbsp;&nbsp; 5.24%, 11/25/70<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,560 | 2554277 |
| &nbsp;&nbsp;&nbsp; 5.44%, 07/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD12,936 | 12979124 |
| &nbsp;&nbsp;&nbsp; 5.44%, 07/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD12,370 | 12413326 |
| &nbsp;&nbsp;&nbsp; 5.74%, 11/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,207 | 2227824 |
| &nbsp;&nbsp;&nbsp; 6.50%, 11/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,830 | 1846657 |
| &nbsp;&nbsp;&nbsp; 6.59%, 09/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,712 | 2690584 |
| &nbsp;&nbsp;&nbsp; 7.11%, 07/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,500 | 1506614 |
| &nbsp;&nbsp;&nbsp; 7.50%, 07/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 1001127 |
| Mortimer PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.56%, 09/22/70, (1-day SONIA+ <br> 0.81%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,229 | 3035126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.58%, 09/22/67, (1-day SONIA + <br> 0.83%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,007 | 1371362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 09/22/67, (1-day SONIA + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP561 | 764009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, 09/22/70, (1-day SONIA+ <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP344 | 469601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/22/67, (1-day SONIA + <br> 1.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 09/22/70, (1-day SONIA+ <br> 1.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP429 | 586317 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 09/22/70, (1-day SONIA+ <br> 1.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP353 | 481491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 09/22/67, (1-day SONIA + <br> 2.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 137212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.62%, 09/22/70, (1-day SONIA+ <br> 3.87%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,432 | 1996322 |
| MTN Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.06%, 03/15/39, (1-mo. CME Term <br> SOFR + 1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,041 | 2040362 |
| &nbsp;&nbsp;&nbsp; 5.15%, 05/15/43<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,880 | 2896650 |
| National RMBS Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 10/20/57, (1-month BB Swap + <br> 0.94%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD7,650 | 5505581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 10/20/57, (1-month BB Swap + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,500 | 1077301 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.64%, 10/20/57, (1-month BB Swap + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD3,900 | 2794553 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.89%, 10/20/57, (1-month BB Swap + <br> 1.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,200 | 859888 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.14%, 10/20/57, (1-month BB Swap + <br> 2.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD500 | 357480 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| NCMF Trust, 7.78%, 06/10/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,993 | $6013117 |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.94%, 10/25/58<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD652 | 627454 |
| &nbsp;&nbsp;&nbsp; 1.10%, 07/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD158 | 144564 |
| &nbsp;&nbsp;&nbsp; 2.49%, 09/25/59<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,396 | 1345545 |
| &nbsp;&nbsp;&nbsp; 2.71%, 11/25/59<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,432 | 1364674 |
| &nbsp;&nbsp;&nbsp; 2.72%, 01/26/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD543 | 514142 |
| &nbsp;&nbsp;&nbsp; 2.77%, 01/26/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,584 | 1496560 |
| &nbsp;&nbsp;&nbsp; 2.80%, 09/25/59<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,316 | 2233415 |
| &nbsp;&nbsp;&nbsp; 3.75%, 05/28/52<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD82 | 78908 |
| &nbsp;&nbsp;&nbsp; 3.75%, 05/28/52<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD403 | 386589 |
| &nbsp;&nbsp;&nbsp; 3.75%, 05/28/52<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD32 | 30677 |
| &nbsp;&nbsp;&nbsp; 3.75%, 05/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD136 | 129519 |
| &nbsp;&nbsp;&nbsp; 3.98%, 04/25/62<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD854 | 794733 |
| &nbsp;&nbsp;&nbsp; 4.00%, 03/25/57<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD109 | 105099 |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/25/58<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD73 | 72458 |
| &nbsp;&nbsp;&nbsp; 4.75%, 12/25/57<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD121 | 120004 |
| &nbsp;&nbsp;&nbsp; 4.83%, 02/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,824 | 4788927 |
| &nbsp;&nbsp;&nbsp; 5.11%, 08/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10,227 | 10205860 |
| &nbsp;&nbsp;&nbsp; 5.12%, 09/25/64<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,948 | 4935114 |
| &nbsp;&nbsp;&nbsp; 5.35%, 07/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,127 | 4139702 |
| &nbsp;&nbsp;&nbsp; 5.47%, 11/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD7,883 | 7947195 |
| &nbsp;&nbsp;&nbsp; 5.53%, 05/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD15,234 | 15324926 |
| &nbsp;&nbsp;&nbsp; 5.64%, 01/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,974 | 3006047 |
| &nbsp;&nbsp;&nbsp; 6.13%, 03/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,295 | 1303635 |
| &nbsp;&nbsp;&nbsp; 6.47%, 01/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,172 | 2205326 |
| &nbsp;&nbsp;&nbsp; 6.83%, 08/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,300 | 1281105 |
| &nbsp;&nbsp;&nbsp; 7.02%, 07/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,500 | 3436655 |
| &nbsp;&nbsp;&nbsp; 7.40%, 08/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD833 | 816964 |
| &nbsp;&nbsp;&nbsp; 7.91%, 03/25/64<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,900 | 1918466 |
| &nbsp;&nbsp;&nbsp; NEW Residential Mortgage Loan Trust, <br> 5.57%, 04/25/65<sup>(a)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,914 | 1925575 |
| &nbsp;&nbsp;&nbsp; Nomura Resecuritization Trust, 4.35%, <br> 10/26/36<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD860 | 823896 |
| NRP Mortgage Trust, 3.25%, 07/25/43<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10,921 | 9985174 |
| &nbsp;&nbsp;&nbsp; NRTH Commercial Mortgage Trust, 5.05%, <br> 10/15/40, (1-mo. CME Term SOFR + <br> 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,031 | 11024113 |
| NYC Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.82%, 11/05/38<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,516 | 5500863 |
| &nbsp;&nbsp;&nbsp; 5.33%, 05/09/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,500 | 5503642 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 10/15/40, (1-mo. CME Term <br> SOFR + 1.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,910 | 3919775 |
| &nbsp;&nbsp;&nbsp; 7.39%, 07/13/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,179 | 3180971 |
| NYC Trust, 4.95%, 01/10/36<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD14,075 | 13986370 |
| NYCT Trust 2024-3ELV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 08/15/29, (1-mo. CME Term <br> SOFR + 1.99%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,790 | 7790000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.49%, 08/15/29, (1-mo. CME Term <br> SOFR + 2.84%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 996267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.49%, 08/15/29, (1-mo. CME Term <br> SOFR + 3.84%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,000 | 3980089 |
| NYMT Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 11/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD8,946 | 8615860 |
| &nbsp;&nbsp;&nbsp; 4.77%, 02/25/61<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,222 | 6190459 |
| &nbsp;&nbsp;&nbsp; 4.95%, 02/25/61<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,426 | 2417553 |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,151 | 6169455 |
| &nbsp;&nbsp;&nbsp; 6.47%, 02/25/61<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 981852 |
| OBX Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.07%, 02/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,179 | 1050467 |
| &nbsp;&nbsp;&nbsp; 1.56%, 05/25/61<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,257 | 1879722 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/25/61<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,260 | 1008673 |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/25/48<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD224 | 215338 |
| &nbsp;&nbsp;&nbsp; 4.94%, 09/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,303 | 2301081 |
| &nbsp;&nbsp;&nbsp; 5.11%, 08/25/62<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD376 | 375128 |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,069 | 1077750 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; 5.95%, 02/25/63<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD7,171 | $7149486 |
| &nbsp;&nbsp;&nbsp; 5.99%, 01/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD917 | 922901 |
| &nbsp;&nbsp;&nbsp; 6.07%, 01/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,374 | 2387945 |
| &nbsp;&nbsp;&nbsp; 6.13%, 12/25/63<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD877 | 882560 |
| &nbsp;&nbsp;&nbsp; 6.62%, 01/25/64<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 1002948 |
| &nbsp;&nbsp;&nbsp; 7.39%, 06/25/63<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD850 | 848625 |
| One New York Plaza Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.72%, 01/15/36, (1-mo. CME Term <br> SOFR + 1.06%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD944 | 917361 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 01/15/36, (1-mo. CME Term <br> SOFR + 1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD519 | 503106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.27%, 01/15/36, (1-mo. CME Term <br> SOFR + 1.61%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 957500 |
| &nbsp;&nbsp;&nbsp; ONNI Commerical Mortgage Trust, 5.75%, <br> 07/15/39<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,605 | 5661050 |
| &nbsp;&nbsp;&nbsp; ORL Trust, 5.15%, 12/15/39, (1-mo. CME <br> Term SOFR + 1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,400 | 4406875 |
| Pepper Prime Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.03%, 04/12/67, (1-month BB Swap + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD8,400 | 6026294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 04/12/67, (1-month BB Swap + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD770 | 551069 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 04/12/67, (1-month BB Swap + <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD540 | 384672 |
| Pepper Residential Securities Trust No. 41 |  |  |
| &nbsp;&nbsp;&nbsp; 5.08%, 07/12/67<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; AUD4,490 | 3221392 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 07/12/67, (1-month BB Swap + <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD870 | 624590 |
| &nbsp;&nbsp;&nbsp; PGA Trust, 5.55%, 06/15/39, (1-mo. CME <br> Term SOFR + 1.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,463 | 8460355 |
| Pierpont Btl PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 12/21/62, (1-day SONIA+ <br> 0.77%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP4,895 | 6657746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 12/21/62, (1-day SONIA+ <br> 1.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP106 | 144003 |
| &nbsp;&nbsp;&nbsp; Pierpont BTL PLC, 4.59%, 09/21/61, (1-day <br> SONIA+ 0.84%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,348 | 1836353 |
| PMT Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/25/57<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,652 | 9439942 |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,135 | 3135133 |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/25/59<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,162 | 6149173 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,352 | 6424351 |
| Polaris PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.47%, 06/27/70, (1-day SONIA+ <br> 0.73%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,946 | 2644286 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.56%, 02/26/68, (1-day SONIA+ <br> 0.82%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,683 | 2292173 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.56%, 10/27/69, (1-day SONIA+ <br> 0.82%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP8,835 | 12035970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 02/26/68, (1-day SONIA+ <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP413 | 563066 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.79%, 08/25/68, (1-day SONIA+ <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP196 | 266045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.84%, 10/27/69, (1-day SONIA+ <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP689 | 941491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 02/26/68, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP108 | 148235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 08/25/68, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.14%, 10/27/69, (1-day SONIA+ <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP225 | 307785 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.39%, 10/27/69, (1-day SONIA+ <br> 1.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP377 | 515736 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 02/26/68, (1-day SONIA+ <br> 1.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 137652 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| PRET Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 08/25/64<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,141 | $1107519 |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD6,590 | 6410456 |
| PRKCM, 5.55%, 02/25/60<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,782 | 2793827 |
| PRKCM Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.07%, 08/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,484 | 1297748 |
| &nbsp;&nbsp;&nbsp; 2.07%, 11/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,291 | 2908579 |
| &nbsp;&nbsp;&nbsp; 4.68%, 02/25/61<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,593 | 9499993 |
| &nbsp;&nbsp;&nbsp; 5.10%, 10/25/60<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD14,219 | 14169471 |
| &nbsp;&nbsp;&nbsp; 5.10%, 10/25/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,844 | 2833198 |
| &nbsp;&nbsp;&nbsp; 6.33%, 03/25/59<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD630 | 634139 |
| &nbsp;&nbsp;&nbsp; 6.43%, 05/25/59<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD978 | 987386 |
| &nbsp;&nbsp;&nbsp; 7.78%, 09/25/58<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 999652 |
| PRM5 Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.62%, 03/10/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD7,507 | 7463998 |
| &nbsp;&nbsp;&nbsp; 5.81%, 03/10/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,200 | 3174080 |
| PRM8 Trust, 6.53%, 05/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,100 | 2079000 |
| PRPM, 5.23%, 08/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD5,253 | 5248412 |
| PRPM LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/25/54<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 2920255 |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/25/54<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 1893159 |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/25/54<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,211 | 1192609 |
| &nbsp;&nbsp;&nbsp; 4.00%, 08/25/54<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,250 | 2116083 |
| &nbsp;&nbsp;&nbsp; 4.50%, 08/25/55<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,167 | 1131220 |
| &nbsp;&nbsp;&nbsp; 4.50%, 08/25/55<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,400 | 1345261 |
| &nbsp;&nbsp;&nbsp; 4.50%, 08/25/55<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,333 | 1237805 |
| PRPM Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 02/25/71<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,428 | 9406156 |
| &nbsp;&nbsp;&nbsp; 5.18%, 10/25/70<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10,544 | 10527635 |
| &nbsp;&nbsp;&nbsp; 5.21%, 01/25/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,625 | 1621889 |
| &nbsp;&nbsp;&nbsp; 5.22%, 02/25/71<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,019 | 1996847 |
| &nbsp;&nbsp;&nbsp; 5.37%, 08/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD248 | 246812 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/25/56<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD945 | 898876 |
| &nbsp;&nbsp;&nbsp; 5.50%, 08/25/67<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,619 | 2612761 |
| &nbsp;&nbsp;&nbsp; 5.67%, 12/26/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD9,124 | 9167677 |
| &nbsp;&nbsp;&nbsp; 5.69%, 04/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD10,393 | 10449621 |
| &nbsp;&nbsp;&nbsp; 5.80%, 11/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,623 | 3645004 |
| &nbsp;&nbsp;&nbsp; 6.27%, 12/25/68<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,066 | 1071688 |
| &nbsp;&nbsp;&nbsp; 6.52%, 12/26/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,000 | 5048795 |
| &nbsp;&nbsp;&nbsp; 6.65%, 11/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,027 | 2044971 |
| &nbsp;&nbsp;&nbsp; 6.72%, 07/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,705 | 1697533 |
| &nbsp;&nbsp;&nbsp; 7.01%, 02/25/71<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 1978571 |
| Radian Mortgage Capital Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,123 | 1123586 |
| &nbsp;&nbsp;&nbsp; 6.00%, 11/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD647 | 647157 |
| Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.86%, 01/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD540 | 525657 |
| &nbsp;&nbsp;&nbsp; 3.95%, 01/26/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,250 | 2149838 |
| &nbsp;&nbsp;&nbsp; 4.67%, 01/26/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,528 | 1423202 |
| &nbsp;&nbsp;&nbsp; 6.04%, 05/25/59<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD895 | 885079 |
| RESIMAC Premier Series |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.02%, 04/08/57, (1-month BB Swap + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD10,905 | 7817690 |
| &nbsp;&nbsp;&nbsp; 5.18%, 09/12/56<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; AUD1,129 | 813300 |
| RFMSI Series Trust, 5.73%, 10/25/37<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD111 | 66056 |
| RUN Trust, 5.00%, 03/25/67<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,903 | 1864131 |
| Sage AR Funding |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 05/18/38, (1-day SONIA+ <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP5,548 | 7522956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 05/18/38, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP5,790 | 7832855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 05/18/38, (1-day SONIA+ <br> 1.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP4,067 | 5498939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 05/18/38, (1-day SONIA+ <br> 2.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,072 | 1448720 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 05/17/37, (1-day SONIA+ <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,837 | $2498294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 05/17/37, (1-day SONIA+ <br> 2.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP959 | 1301090 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 05/17/37, (1-day SONIA+ <br> 2.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP379 | 513615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.65%, 05/17/37, (1-day SONIA+ <br> 3.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP327 | 443661 |
| &nbsp;&nbsp;&nbsp; SAIF Securitization Trust, 5.97%, <br> 07/25/54<sup>(a)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,077 | 2089769 |
| Santander Mortgage Asset Receivable Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.95%, 11/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,401 | 4379473 |
| &nbsp;&nbsp;&nbsp; 5.14%, 11/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD11,907 | 11889332 |
| &nbsp;&nbsp;&nbsp; 5.73%, 02/25/65<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,734 | 2753763 |
| &nbsp;&nbsp;&nbsp; 6.89%, 08/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,170 | 3152134 |
| Santander Residential 1 FT |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.95%, 10/18/68, (3-mo. EURIBOR + <br> 0.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,418 | 1668369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.20%, 10/18/68, (3-mo. EURIBOR + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR400 | 467280 |
| &nbsp;&nbsp;&nbsp; Sapphire XXXII Trust, 5.19%, 06/14/66, <br> (1-month BB Swap + 1.10%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD4,248 | 3059923 |
| Sapphire XXXIII Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 02/12/67, (1-month BB Swap + <br> 1.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD4,160 | 2985469 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 02/12/67, (1-month BB Swap + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,450 | 1040180 |
| SCG Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 08/15/42, (1-mo. CME Term <br> SOFR + 2.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,259 | 1248796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.60%, 03/15/35, (1-mo. CME Term <br> SOFR + 2.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,410 | 7411658 |
| &nbsp;&nbsp;&nbsp; SCG Mortgage Trust, 5.40%, 04/15/41, <br> (1-mo. CME Term SOFR + 1.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,700 | 8700000 |
| &nbsp;&nbsp;&nbsp; SCG Trust, 5.15%, 09/15/42, (1-mo. CME <br> Term SOFR + 1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,460 | 6476150 |
| &nbsp;&nbsp;&nbsp; SDAL Trust, 6.10%, 04/15/42, (1-mo. CME <br> Term SOFR + 2.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,496 | 10495997 |
| SELF Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 11/15/34, (1-mo. CME Term <br> SOFR + 1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD420 | 419711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.84%, 11/15/34, (1-mo. CME Term <br> SOFR + 4.19%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,866 | 2855966 |
| Sequoia Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 06/25/51<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD11,358 | 10540279 |
| &nbsp;&nbsp;&nbsp; 4.44%, 11/25/63<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,092 | 5083353 |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD16,076 | 15931896 |
| &nbsp;&nbsp;&nbsp; 5.12%, 04/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,003 | 4945097 |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,032 | 4018207 |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD16,028 | 15985038 |
| SG Residential Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.16%, 07/25/61<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,681 | 3095797 |
| &nbsp;&nbsp;&nbsp; 3.68%, 03/27/62<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,364 | 2178062 |
| &nbsp;&nbsp;&nbsp; 4.08%, 09/25/59<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,000 | 2876351 |
| &nbsp;&nbsp;&nbsp; 4.78%, 01/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD15,691 | 15567464 |
| &nbsp;&nbsp;&nbsp; 5.10%, 12/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,251 | 6235541 |
| SHR Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 10/15/41, (1-mo. CME Term <br> SOFR + 1.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,130 | 5147943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.10%, 10/15/41, (1-mo. CME Term <br> SOFR + 4.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD225 | 225984 |
| &nbsp;&nbsp;&nbsp; Sirius Logistics UK DAC, 5.00%, 11/17/35, <br> (1-day SONIA+ 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP3,502 | 4755848 |
| &nbsp;&nbsp;&nbsp; SLG Commercial Mortgage Trust, 4.93%, <br> 02/15/39<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,368 | 5331099 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| SLG Office Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.97%, 04/15/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD750 | $752710 |
| &nbsp;&nbsp;&nbsp; 6.96%, 04/15/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 2010119 |
| &nbsp;&nbsp;&nbsp; 7.92%, 04/15/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,000 | 4027697 |
| &nbsp;&nbsp;&nbsp; SMR Mortgage Trust, 5.30%, 02/15/39, <br> (1-mo. CME Term SOFR + 1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,130 | 2125577 |
| &nbsp;&nbsp;&nbsp; SMRT 2022-Mini, 4.66%, 01/15/39, (1-mo. <br> CME Term SOFR + 1.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,150 | 5146781 |
| &nbsp;&nbsp;&nbsp; Spruce Hill Mortgage Loan Trust, 4.68%, <br> 01/28/50<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,020 | 4764722 |
| &nbsp;&nbsp;&nbsp; SREIT Trust, 5.14%, 11/15/36, (1-mo. CME <br> Term SOFR + 1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD265 | 264917 |
| Starwood Mortgage Residential Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.18%, 05/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD500 | 464450 |
| &nbsp;&nbsp;&nbsp; 2.88%, 02/25/50<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD940 | 855755 |
| Stratton Mortgage Funding PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.72%, 06/25/49, (1-day SONIA+ <br> 0.98%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP314 | 427490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 06/25/49, (1-day SONIA+ <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP179 | 243408 |
| &nbsp;&nbsp;&nbsp; SWCH Commercial Mortgage Trust, 5.10%, <br> 02/15/42, (1-mo. CME Term SOFR + <br> 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 991250 |
| Taurus 2025-4 UK DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 08/18/35, (1-day SONIA+ <br> 1.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP782 | 1061453 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 08/18/35, (1-day SONIA+ <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 135665 |
| Taurus U.K. DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 02/18/35, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,752 | 2383244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 02/18/35, (1-day SONIA+ <br> 2.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP346 | 469454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/18/35, (1-day SONIA+ <br> 2.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP428 | 580290 |
| &nbsp;&nbsp;&nbsp; TCO Commercial Mortgage Trust, 6.40%, <br> 12/15/39, (1-mo. CME Term SOFR + <br> 2.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,500 | 2503125 |
| &nbsp;&nbsp;&nbsp; Think Tank Commercial Series 2025, 5.16%, <br> 12/10/57, (1-month BB Swap + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,295 | 932460 |
| THPT Mortgage Trust, 7.23%, 12/10/34<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,252 | 6288106 |
| Thunder Logistics DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.50%, 11/17/36, (3-mo. EURIBOR + <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR700 | 821509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.05%, 11/17/36, (3-mo. EURIBOR + <br> 2.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR63 | 73633 |
| &nbsp;&nbsp;&nbsp; Together Asset Backed Securitisation 14 <br> PLC, 4.50%, 08/15/66, (1-day SONIA+ <br> 0.76%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP607 | 826412 |
| &nbsp;&nbsp;&nbsp; Together Asset Backed Securitisation 15 <br> PLC, 0.00% 03/12/67, (1-day SONIA+ <br> 1.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,496 | 3420661 |
| &nbsp;&nbsp;&nbsp; Together Asset Backed Securitisation PLC, <br> 4.94%, 01/15/57, (1-day SONIA+ <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,315 | 1796891 |
| Together Asset-Backed Securitisation PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 09/12/56, (1-day SONIA+ <br> 0.93%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP633 | 863303 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.70%, 10/12/65, (1-day SONIA+ <br> 0.96%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP887 | 1209779 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.94%, 09/12/56, (1-day SONIA+ <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP424 | 580031 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 09/12/56, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136664 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.24%, 01/15/57, (1-day SONIA+ <br> 1.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP182 | $248976 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.54%, 01/15/57, (1-day SONIA+ <br> 1.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP109 | 149824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.69%, 09/12/56, (1-day SONIA+ <br> 1.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136780 |
| Towd Point Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/25/58<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,500 | 1465628 |
| &nbsp;&nbsp;&nbsp; 3.75%, 07/25/62<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD744 | 705446 |
| &nbsp;&nbsp;&nbsp; 3.75%, 08/01/62<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,856 | 1753079 |
| &nbsp;&nbsp;&nbsp; 4.83%, 11/25/57<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD93 | 93206 |
| &nbsp;&nbsp;&nbsp; Triton Bond Trust, 5.25%, 02/15/58, <br> (1-month BB Swap + 1.15%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD9,020 | 6436804 |
| TRK Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.15%, 07/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,925 | 1740103 |
| &nbsp;&nbsp;&nbsp; 2.58%, 02/25/57<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD6,108 | 5713119 |
| &nbsp;&nbsp;&nbsp; 3.29%, 07/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD255 | 212136 |
| &nbsp;&nbsp;&nbsp; 3.44%, 02/25/57<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,975 | 5256235 |
| &nbsp;&nbsp;&nbsp; 4.34%, 06/25/57<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,274 | 1232665 |
| TYSN Mortgage Trust, 6.80%, 12/10/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,304 | 4471027 |
| U.K. Logistics DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 05/17/34, (1-day SONIA + <br> 1.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP123 | 167860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.75%, 05/17/35, (1-day SONIA+ <br> 4.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP592 | 802526 |
| UBS Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.76%, 10/15/52<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,201 | 1056399 |
| &nbsp;&nbsp;&nbsp; 3.84%, 10/15/50<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD565 | 549319 |
| UK Logistics DAC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 08/17/35, (1-day SONIA+ <br> 1.33%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,238 | 3053573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.10%, 02/17/35, (1-day SONIA+ <br> 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,194 | 1625018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 08/17/35, (1-day SONIA+ <br> 1.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP1,143 | 1558737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 02/17/35, (1-day SONIA+ <br> 1.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP168 | 226945 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 08/17/35, (1-day SONIA+ <br> 1.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP474 | 646409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 02/17/35, (1-day SONIA+ <br> 2.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP85 | 114921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 02/17/35, (1-day SONIA+ <br> 3.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP186 | 250454 |
| University Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 11/15/42, (1-mo. CME Term <br> SOFR + 1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,464 | 11435478 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.90%, 11/15/42, (1-mo. CME Term <br> SOFR + 2.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,700 | 9663800 |
| Vanir Logistics Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 07/23/37, (3-mo. EURIBOR + <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,633 | 1913456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 07/23/37, (3-mo. EURIBOR + <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR650 | 760450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.00%, 07/23/37, (3-mo. EURIBOR + <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,025 | 1198741 |
| VCC Trust, 8.16%, 05/25/55<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD961 | 956831 |
| VEGAS, 6.42%, 07/10/36<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,506 | 3480421 |
| VEGAS Trust, 5.52%, 11/10/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,850 | 4857321 |
| Velocity Commercial Capital Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.61%, 02/25/50<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,002 | 940717 |
| &nbsp;&nbsp;&nbsp; 4.48%, 12/26/51<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD346 | 284870 |
| &nbsp;&nbsp;&nbsp; 5.03%, 05/25/51<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,407 | 1047321 |
| &nbsp;&nbsp;&nbsp; 5.10%, 02/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD9,725 | 9593267 |
| &nbsp;&nbsp;&nbsp; 5.20%, 02/25/52<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD208 | 173966 |
| &nbsp;&nbsp;&nbsp; 5.22%, 06/25/52<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,083 | 4014794 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; 5.46%, 10/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,731 | $2700061 |
| &nbsp;&nbsp;&nbsp; 5.49%, 10/25/54<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,198 | 2190295 |
| &nbsp;&nbsp;&nbsp; 5.54%, 03/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD11,988 | 11938435 |
| &nbsp;&nbsp;&nbsp; 5.81%, 12/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,242 | 5257782 |
| &nbsp;&nbsp;&nbsp; 5.87%, 06/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD11,395 | 11432658 |
| &nbsp;&nbsp;&nbsp; 5.98%, 03/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,021 | 1015234 |
| &nbsp;&nbsp;&nbsp; 6.03%, 02/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,759 | 1771799 |
| &nbsp;&nbsp;&nbsp; 6.04%, 10/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD249 | 245990 |
| &nbsp;&nbsp;&nbsp; 6.17%, 09/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,868 | 1854676 |
| &nbsp;&nbsp;&nbsp; 6.26%, 02/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,244 | 1222423 |
| &nbsp;&nbsp;&nbsp; 6.31%, 09/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,087 | 1065380 |
| &nbsp;&nbsp;&nbsp; 6.46%, 03/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD949 | 943150 |
| &nbsp;&nbsp;&nbsp; 6.56%, 10/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD278 | 274616 |
| &nbsp;&nbsp;&nbsp; 6.58%, 04/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD600 | 607521 |
| &nbsp;&nbsp;&nbsp; 6.76%, 10/25/54<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD340 | 337235 |
| &nbsp;&nbsp;&nbsp; 6.85%, 10/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD487 | 480604 |
| &nbsp;&nbsp;&nbsp; 6.92%, 12/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD207 | 207391 |
| &nbsp;&nbsp;&nbsp; 6.94%, 03/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,808 | 1786948 |
| &nbsp;&nbsp;&nbsp; 6.98%, 02/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,997 | 2017069 |
| &nbsp;&nbsp;&nbsp; 7.23%, 06/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,324 | 1341367 |
| &nbsp;&nbsp;&nbsp; 7.33%, 02/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD901 | 907397 |
| &nbsp;&nbsp;&nbsp; 7.52%, 08/25/52<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD976 | 931022 |
| &nbsp;&nbsp;&nbsp; 8.48%, 02/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD497 | 488396 |
| &nbsp;&nbsp;&nbsp; 9.35%, 09/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD996 | 976656 |
| &nbsp;&nbsp;&nbsp; 9.45%, 10/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD289 | 285732 |
| &nbsp;&nbsp;&nbsp; 9.47%, 10/25/54<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD244 | 244064 |
| &nbsp;&nbsp;&nbsp; 9.53%, 03/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,211 | 1195543 |
| &nbsp;&nbsp;&nbsp; 9.64%, 01/25/53<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,625 | 3436771 |
| &nbsp;&nbsp;&nbsp; 9.67%, 12/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,973 | 2992594 |
| &nbsp;&nbsp;&nbsp; 10.15%, 02/25/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD312 | 313900 |
| &nbsp;&nbsp;&nbsp; 10.21%, 10/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD105 | 96034 |
| &nbsp;&nbsp;&nbsp; 10.28%, 12/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,480 | 2352826 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.82%, 10/25/63<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD822 | 796342 |
| &nbsp;&nbsp;&nbsp; 2.82%, 11/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,473 | 2265815 |
| &nbsp;&nbsp;&nbsp; 3.20%, 06/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD712 | 558564 |
| &nbsp;&nbsp;&nbsp; 3.80%, 04/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,435 | 2258692 |
| &nbsp;&nbsp;&nbsp; 4.05%, 02/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,334 | 1076107 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/25/71<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,357 | 7230744 |
| &nbsp;&nbsp;&nbsp; 4.83%, 10/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,490 | 2466970 |
| &nbsp;&nbsp;&nbsp; 4.94%, 10/25/67<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,407 | 9361376 |
| &nbsp;&nbsp;&nbsp; 5.02%, 01/25/71<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,070 | 2062171 |
| &nbsp;&nbsp;&nbsp; 5.10%, 09/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,180 | 5189472 |
| &nbsp;&nbsp;&nbsp; 5.13%, 02/25/67<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,712 | 1634314 |
| &nbsp;&nbsp;&nbsp; 5.13%, 08/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD5,385 | 5392398 |
| &nbsp;&nbsp;&nbsp; 5.22%, 09/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD5,878 | 5881670 |
| &nbsp;&nbsp;&nbsp; 5.33%, 08/26/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,467 | 1470915 |
| &nbsp;&nbsp;&nbsp; 5.36%, 10/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,574 | 3584894 |
| &nbsp;&nbsp;&nbsp; 5.42%, 07/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD12,589 | 12665889 |
| &nbsp;&nbsp;&nbsp; 5.43%, 06/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD10,553 | 10603394 |
| &nbsp;&nbsp;&nbsp; 5.62%, 05/25/70<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD7,243 | 7297748 |
| &nbsp;&nbsp;&nbsp; 5.71%, 01/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,829 | 3840020 |
| &nbsp;&nbsp;&nbsp; 6.10%, 02/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD190 | 191492 |
| &nbsp;&nbsp;&nbsp; 6.12%, 03/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,625 | 1636337 |
| &nbsp;&nbsp;&nbsp; 6.33%, 02/25/71<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD486 | 481441 |
| &nbsp;&nbsp;&nbsp; 6.34%, 04/25/69<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,854 | 1873185 |
| &nbsp;&nbsp;&nbsp; 6.40%, 05/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD584 | 578704 |
| &nbsp;&nbsp;&nbsp; 6.41%, 11/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,359 | 1348607 |
| &nbsp;&nbsp;&nbsp; 6.48%, 09/25/70<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,338 | 1330365 |
| &nbsp;&nbsp;&nbsp; 6.54%, 10/27/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,735 | 1722266 |
| &nbsp;&nbsp;&nbsp; 6.62%, 08/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,850 | 1851323 |
| &nbsp;&nbsp;&nbsp; 7.37%, 10/27/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD700 | 695514 |
| &nbsp;&nbsp;&nbsp; 7.45%, 12/25/68<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,510 | 1523412 |
| &nbsp;&nbsp;&nbsp; 7.45%, 05/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD500 | 495048 |
| &nbsp;&nbsp;&nbsp; 7.50%, 08/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,414 | 1403907 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,967 | 1950707 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; 7.64%, 06/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,765 | $1792667 |
| &nbsp;&nbsp;&nbsp; 7.76%, 09/25/68<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,450 | 3455151 |
| &nbsp;&nbsp;&nbsp; 8.03%, 04/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD680 | 692329 |
| &nbsp;&nbsp;&nbsp; 8.09%, 03/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 1012582 |
| &nbsp;&nbsp;&nbsp; 8.17%, 11/25/68<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD1,500 | 1514468 |
| &nbsp;&nbsp;&nbsp; Verus Securitization Trust 2024, 8.41%, <br> 04/25/69<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,240 | 1256118 |
| Visio Trust, 1.31%, 11/25/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD43 | 41848 |
| VTR Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.20%, 10/13/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD11,426 | 11346418 |
| &nbsp;&nbsp;&nbsp; 6.71%, 10/13/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,904 | 3842328 |
| &nbsp;&nbsp;&nbsp; WaMu Mortgage Pass-Through Certificates <br> Series Trust, 4.47%, 09/25/46, (12-mo. <br> MTA + 0.96%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD32 | 27481 |
| &nbsp;&nbsp;&nbsp; Washington Mutual Mortgage Pass-Through <br> Certificates WMALT Series Trust, 4.76%, <br> 04/25/47, (12-mo. MTA + 1.25%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD238 | 212355 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.16%, 12/15/49<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD440 | 436895 |
| &nbsp;&nbsp;&nbsp; 4.19%, 08/17/36<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD210 | 205748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-C46, Class AS, 4.38%, <br> 08/15/51<br>| &nbsp;&nbsp;&nbsp; USD660 | 648039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2019-C50, Class AS, 4.02%, <br> 05/15/52<br>| &nbsp;&nbsp;&nbsp; USD870 | 840490 |
| &nbsp;&nbsp;&nbsp; Wells Fargo Mortgage-Backed Securities <br> Trust, 3.50%, 07/25/47<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD152 | 140010 |
| WEST Trust, 5.45%, 04/10/35<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD4,126 | 4149318 |
| WHARF Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.53%, 07/15/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD3,947 | 4016429 |
| &nbsp;&nbsp;&nbsp; 7.98%, 07/15/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD2,897 | 2973686 |
| Winchester 1 PLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.64%, 10/21/56<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; GBP622 | 847868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 10/21/56, (1-day SONIA + <br> 1.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP340 | 463155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 10/21/56, (1-day SONIA + <br> 1.55%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 136628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 10/21/56, (1-day SONIA + <br> 2.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP100 | 137361 |
| WinWater Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 11/20/44<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD290 | 272288 |
| &nbsp;&nbsp;&nbsp; 3.50%, 01/20/45<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD127 | 119291 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/20/45<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD358 | 332675 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/20/45<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD143 | 132300 |
| &nbsp;&nbsp;&nbsp; 3.76%, 08/20/45<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD450 | 310706 |
| &nbsp;&nbsp;&nbsp; 3.93%, 06/20/44<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD376 | 363432 |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/20/44<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD91 | 88414 |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/20/44<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD250 | 189298 |
| &nbsp;&nbsp;&nbsp; WST Trust, 4.95%, 09/19/57, (1-month BB <br> Swap + 0.83%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD9,300 | 6677398 |
|  |  | 3551985962 |
| **Municpal Debt Obligations — 0.0%** | **Municpal Debt Obligations — 0.0%** | **Municpal Debt Obligations — 0.0%** |
| &nbsp;&nbsp;&nbsp; Tower Bridge Funding PLC, 4.54%, <br> 12/20/66<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP470 | 640007 |
| **Total Collateralized Mortgage Obligations — 21.6%** <br>**(Cost: $3,621,701,112)** | **Total Collateralized Mortgage Obligations — 21.6%** <br>**(Cost: $3,621,701,112)** | 3637796651 |
| **Convertible Bonds** | **Convertible Bonds** | **Convertible Bonds** |
| **Real Estate — 0.0%** | **Real Estate — 0.0%** | **Real Estate — 0.0%** |
| Vonovia SE, Series B, 0.88%, 05/20/32<sup>(c)(e)</sup> | &nbsp;&nbsp;&nbsp; EUR6,300 | 7109517 |
| **Semiconductors — 0.0%** | **Semiconductors — 0.0%** | **Semiconductors — 0.0%** |
| &nbsp;&nbsp;&nbsp; ams-OSRAM AG, Series ., 2.13%, <br> 11/03/27<sup>(c)(e)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,100 | 1258740 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Transportation — 0.1%** | **Transportation — 0.1%** | **Transportation — 0.1%** |
| Ocado Group PLC, 0.75%, 01/18/27<sup>(c)(e)</sup> | &nbsp;&nbsp;&nbsp; GBP6,900 | $9032953 |
| **Total Convertible Bonds — 0.1%** <br>**(Cost: $17,396,201)** | **Total Convertible Bonds — 0.1%** <br>**(Cost: $17,396,201)** | 17401210 |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.5%** | **Advertising — 0.5%** | **Advertising — 0.5%** |
| Clear Channel Outdoor Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,693 | 1760063 |
| &nbsp;&nbsp;&nbsp; 7.50%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD362 | 380272 |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,509 | 6776832 |
| Lamar Media Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 02/15/28 | &nbsp;&nbsp;&nbsp; USD161 | 157874 |
| &nbsp;&nbsp;&nbsp; 4.88%, 01/15/29 | &nbsp;&nbsp;&nbsp; USD3,879 | 3851409 |
| Neptune Bidco U.S., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 9.29%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD900 | 910214 |
| &nbsp;&nbsp;&nbsp; 9.50%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,469 | 9476513 |
| &nbsp;&nbsp;&nbsp; 10.38%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,939 | 3032963 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media <br> Capital Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD250 | 243906 |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/15/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD190 | 184873 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,766 | 3760419 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD250 | 261470 |
| Stagwell Global LLC, 5.63%, 08/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,702 | 3521544 |
| Summer BC Holdco B SARL |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 02/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR6,869 | 7018117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.23%, 02/15/30, (3-mo. EURIBOR + <br> 4.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR9,306 | 9620820 |
| WPP Finance 2013, 3.63%, 06/09/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR25,280 | 28756092 |
|  |  | 79713381 |
| **Aerospace & Defense — 0.4%** | **Aerospace & Defense — 0.4%** | **Aerospace & Defense — 0.4%** |
| ATI, Inc., 7.25%, 08/15/30 | &nbsp;&nbsp;&nbsp; USD4,286 | 4463770 |
| Boeing Co. (The), 2.80%, 03/01/27<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD12,385 | 12233765 |
| Bombardier, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,358 | 1417540 |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,276 | 1325495 |
| &nbsp;&nbsp;&nbsp; 8.75%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,415 | 4687472 |
| &nbsp;&nbsp;&nbsp; Honeywell Aerospace, Inc., 3.90%, <br> 03/16/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,155 | 10079384 |
| TransDigm, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 01/15/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,506 | 2472843 |
| &nbsp;&nbsp;&nbsp; 4.88%, 05/01/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,669 | 2637608 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD617 | 622898 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD95 | 96896 |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/31/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,438 | 8502880 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,882 | 9127969 |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11,551 | 11707031 |
| &nbsp;&nbsp;&nbsp; 6.88%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,044 | 1075952 |
| &nbsp;&nbsp;&nbsp; 7.13%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,933 | 3039380 |
|  |  | 73490883 |
| **Agriculture — 0.1%** | **Agriculture — 0.1%** | **Agriculture — 0.1%** |
| &nbsp;&nbsp;&nbsp; BAT Netherlands Finance BV, 5.38%, <br> 02/16/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,300 | 4149252 |
| Darling Ingredients, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,729 | 1727584 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD925 | 933023 |
| MHP Lux SA, 10.50%, 07/28/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD335 | 342538 |
| &nbsp;&nbsp;&nbsp; Tereos Finance Groupe I SA, 7.25%, <br> 04/15/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,559 | 3029973 |
|  |  | 10182370 |
| **Airlines — 0.3%** | **Airlines — 0.3%** | **Airlines — 0.3%** |
| &nbsp;&nbsp;&nbsp; ABRA Global Finance, 14.00%, 10/22/29, <br> (6.00% cash + 8.00% PIK)<sup>(a)(f)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD709 | 660865 |
| Air Canada, 3.88%, 08/15/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,066 | 1063052 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Airlines (continued)** | **Airlines (continued)** | **Airlines (continued)** |
| &nbsp;&nbsp;&nbsp; Air France-KLM, Series ., 5.75%, (5-year <br> EURIBOR ICE Swap + 3.58%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR10,200 | $11506863 |
| American Airlines, Inc., 7.25%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,999 | 4052662 |
| &nbsp;&nbsp;&nbsp; American Airlines, Inc./AAdvantage Loyalty <br> IP Ltd., 5.75%, 04/20/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,366 | 6370323 |
| Avianca Midco 2 PLC, 9.50%, 01/28/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD425 | 397375 |
| &nbsp;&nbsp;&nbsp; Azul Secured Finance LLP, 9.88%, <br> 02/15/31<br>| &nbsp;&nbsp;&nbsp; USD450 | 399937 |
| &nbsp;&nbsp;&nbsp; Deutsche Lufthansa AG, 5.25%, 01/15/55, <br> (5-year EURIBOR ICE Swap + <br> 2.86%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR9,000 | 10349478 |
| &nbsp;&nbsp;&nbsp; Garuda Indonesia Persero Tbk PT, 6.50%, <br> 12/28/31, (6.50% Cash or 7.25% <br> PIK)<sup>(c)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,385 | 1170052 |
| &nbsp;&nbsp;&nbsp; Grupo Aeromexico SAB de CV, 8.25%, <br> 11/15/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,941 | 3821785 |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp/JetBlue Loyalty LP, <br> 9.88%, 09/20/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,322 | 6819480 |
| United Airlines Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 03/01/29 | &nbsp;&nbsp;&nbsp; USD4,186 | 4123468 |
| &nbsp;&nbsp;&nbsp; 5.38%, 03/01/31 | &nbsp;&nbsp;&nbsp; USD407 | 401145 |
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista <br> Management Holding, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 02/01/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD100 | 93646 |
| &nbsp;&nbsp;&nbsp; 9.50%, 06/01/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD290 | 293154 |
|  |  | 51523285 |
| **Apparel — 0.2%** | **Apparel — 0.2%** | **Apparel — 0.2%** |
| Beach Acquisition Bidco LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR14,249 | 16641193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.00%, 07/15/33, (10.00% Cash or <br> 10.75% PIK)<sup>(a)(f)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,764 | 5240192 |
| &nbsp;&nbsp;&nbsp; PrestigeBidCo GmbH, 5.95%, 07/01/29, <br> (3-mo. EURIBOR + 3.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,253 | 1480047 |
| VF Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 0.63%, 02/25/32 | &nbsp;&nbsp;&nbsp; EUR4,100 | 3846662 |
| &nbsp;&nbsp;&nbsp; 2.80%, 04/23/27<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD791 | 772203 |
| &nbsp;&nbsp;&nbsp; 2.95%, 04/23/30<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD612 | 555274 |
| &nbsp;&nbsp;&nbsp; 4.25%, 03/07/29 | &nbsp;&nbsp;&nbsp; EUR10,800 | 12663685 |
|  |  | 41199256 |
| **Auto Manufacturers — 1.1%** | **Auto Manufacturers — 1.1%** | **Auto Manufacturers — 1.1%** |
| Allison Transmission, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,296 | 2291887 |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD557 | 562218 |
| &nbsp;&nbsp;&nbsp; Aston Martin Capital Holdings Ltd., 10.38%, <br> 03/31/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP7,522 | 8181181 |
| &nbsp;&nbsp;&nbsp; Ford Motor Credit Co. LLC, 4.87%, <br> 08/03/27<br>| &nbsp;&nbsp;&nbsp; EUR4,400 | 5252448 |
| &nbsp;&nbsp;&nbsp; General Motors Financial Co, Inc., 4.75%, <br> 04/06/29<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD16,000 | 16035659 |
| Jaguar Land Rover Automotive PLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD548 | 541685 |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,759 | 1739319 |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,501 | 1500478 |
| Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp; 1.85%, 09/16/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,696 | 1673260 |
| &nbsp;&nbsp;&nbsp; 5.63%, 09/29/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,306 | 1298728 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/30/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,960 | 4885030 |
| &nbsp;&nbsp;&nbsp; 7.05%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD952 | 976295 |
| Nissan Motor Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 4.81%, 09/17/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,234 | 8623811 |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/17/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR11,687 | 13863439 |
| &nbsp;&nbsp;&nbsp; 6.38%, 07/17/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR12,468 | 15024441 |
| &nbsp;&nbsp;&nbsp; 7.75%, 07/17/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,534 | 3684054 |
| &nbsp;&nbsp;&nbsp; 8.13%, 07/17/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,209 | 3385725 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| RCI Banque SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/24/37, (5-year EURIBOR ICE <br> Swap + 2.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR6,000 | $7042426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/09/34, (5-year EURIBOR ICE <br> Swap + 2.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR17,500 | 21264183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, (5-year EURIBOR ICE Swap + <br> 3.84%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,800 | 4515751 |
| Renault SA, 3.88%, 09/30/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,700 | 4316713 |
| Stellantis NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, (5-year EURIBOR ICE Swap + <br> 3.77%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR9,794 | 11276510 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, (5-year EURIBOR ICE Swap + <br> 4.24%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR10,000 | 11512388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, (5-year UK Government Bond + <br> 4.08%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; GBP8,050 | 10657094 |
| Volkswagen International Finance NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.88%, (10-year EUR Swap + <br> 3.37%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR5,000 | 5861434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series ., 5.99%, (8-year EURIBOR ICE <br> Swap + 3.49%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR15,500 | 18327716 |
|  |  | 184293873 |
| **Auto Parts & Equipment — 0.9%** | **Auto Parts & Equipment — 0.9%** | **Auto Parts & Equipment — 0.9%** |
| Adient Global Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/15/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD923 | 939060 |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,782 | 3868774 |
| American Axle & Manufacturing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/01/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD79 | 76764 |
| &nbsp;&nbsp;&nbsp; 7.75%, 10/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD7,225 | 7053967 |
| &nbsp;&nbsp;&nbsp; Aptiv Swiss Holdings Ltd., 6.88%, 12/15/54, <br> (5-year CMT + 3.39%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,650 | 1691534 |
| Clarios Global LP/Clarios U.S. Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR13,399 | 15714253 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD169 | 171937 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,363 | 1408238 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,694 | 4801680 |
| &nbsp;&nbsp;&nbsp; Cooper-Standard Automotive, Inc., 9.25%, <br> 03/01/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,136 | 4935131 |
| &nbsp;&nbsp;&nbsp; Cyprium Corp./Cyprium Holdings <br> Luxembourg SARL<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,848 | 1860759 |
| &nbsp;&nbsp;&nbsp; 6.38%, 04/15/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,814 | 1811697 |
| Forvia SE |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,785 | 6904255 |
| &nbsp;&nbsp;&nbsp; 5.63%, 06/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,217 | 3874447 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,413 | 4425564 |
| &nbsp;&nbsp;&nbsp; 8.00%, 06/15/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,053 | 1107581 |
| Goodyear Tire & Rubber Co.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/31<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,570 | 5062966 |
| &nbsp;&nbsp;&nbsp; 5.63%, 04/30/33<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,690 | 1515468 |
| IHO Verwaltungs GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 05/15/31, (5.63% Cash or 6.38% <br> PIK)<sup>(c)(g)</sup><br>| &nbsp;&nbsp;&nbsp; EUR735 | 874943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 11/15/31, (7.00% Cash and <br> 7.75% PIK)<sup>(c)(g)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,140 | 8862612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 05/15/33, (7.38% Cash or 8.13% <br> PIK)<sup>(a)(f)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,000 | 1017179 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.75%, 05/15/28, (8.75% Cash or 9.50% <br> PIK)<sup>(c)(g)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,896 | 4678222 |
| Mahle GmbH |  |  |
| &nbsp;&nbsp;&nbsp; 2.38%, 05/14/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR200 | 227679 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/02/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR12,057 | 14667852 |
| Qnity Electronics, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,217 | 1228709 |
| &nbsp;&nbsp;&nbsp; 6.25%, 08/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,041 | 1065074 |
| Schaeffler AG, 5.38%, 04/01/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,200 | 2669847 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** | **Auto Parts & Equipment (continued)** |
| Tenneco, Inc., 8.00%, 11/17/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,462 | $5526899 |
| ZF Europe Finance BV |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 10/23/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,300 | 4724648 |
| &nbsp;&nbsp;&nbsp; 5.50%, 02/17/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR12,900 | 14627940 |
| &nbsp;&nbsp;&nbsp; 6.13%, 03/13/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,900 | 5902520 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/12/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR12,000 | 14719868 |
| ZF North America Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/14/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD300 | 307378 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/23/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,133 | 2087277 |
| &nbsp;&nbsp;&nbsp; 7.13%, 04/14/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,440 | 5454476 |
| &nbsp;&nbsp;&nbsp; 7.50%, 03/24/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,514 | 2517237 |
|  |  | 158384435 |
| **Banks — 4.6%** | **Banks — 4.6%** | **Banks — 4.6%** |
| AIB Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, (5-year EURIBOR ICE Swap + <br> 3.71%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,500 | 4176333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, (5-year EURIBOR ICE Swap + <br> 4.39%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,553 | 4436556 |
| &nbsp;&nbsp;&nbsp; Australia & New Zealand Banking Group <br> Ltd., 5.24%, 02/23/37, (3-month BB Swap <br> + 1.25%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD3,000 | 2155228 |
| &nbsp;&nbsp;&nbsp; Axis Bank Ltd./Gandhinagar, 4.10%, (5-year <br> CMT + 3.32%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,500 | 4463730 |
| &nbsp;&nbsp;&nbsp; B&M European Value Retail PLC, 6.50%, <br> 11/27/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP6,185 | 8009527 |
| &nbsp;&nbsp;&nbsp; Banca Monte dei Paschi di Siena SpA, <br> 4.38%, 10/02/35, (5-year EURIBOR ICE <br> Swap + 2.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR8,292 | 9846227 |
| Banco Bilbao Vizcaya Argentaria SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, (5-year EUR Swap + <br> 4.27%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1252871 |
| &nbsp;&nbsp;&nbsp; 7.75%, (5-year CMT + 3.25%)<sup>(b)(f)(h)</sup> | &nbsp;&nbsp;&nbsp; USD3,227 | 3415489 |
| &nbsp;&nbsp;&nbsp; Banco de Sabadell SA, 5.13%, 11/10/28, <br> (1-year EUR Swap + 2.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR6,300 | 7601244 |
| &nbsp;&nbsp;&nbsp; Banco Mercantil del Norte SA/Grand <br> Cayman, 8.38%, (5-year CMT + <br> 4.07%)<sup>(a)(b)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD758 | 803397 |
| &nbsp;&nbsp;&nbsp; Banco Nacional de Mexico SA, 7.00%, <br> 08/07/36<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD399 | 399000 |
| Bank Hapoalim BM, 4.72%, 07/14/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD213 | 210725 |
| &nbsp;&nbsp;&nbsp; Bank Negara Indonesia Persero Tbk PT, <br> 7.15%, (5-year CMT + 3.26%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,600 | 3622500 |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.19%, 07/23/30, (3-mo. CME Term <br> SOFR + 1.44%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,890 | 9485815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.42%, 12/20/28, (3-mo. CME Term <br> SOFR + 1.30%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,270 | 10100333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/25/29, (1-day SOFR + <br> 1.63%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,365 | 11517055 |
| &nbsp;&nbsp;&nbsp; Banque Federative du Credit Mutuel SA, <br> 1.25%, 06/03/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR11,700 | 12541201 |
| &nbsp;&nbsp;&nbsp; Barclays PLC, Series ., 6.13%, (5-year <br> EURIBOR ICE Swap + 3.56%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,246 | 1443009 |
| &nbsp;&nbsp;&nbsp; BNP Paribas SA, 3.74%, 04/20/34, (3-mo. <br> EURIBOR + 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR15,300 | 17717408 |
| &nbsp;&nbsp;&nbsp; BPER Banca SpA, 6.50%, (5-year <br> EURIBOR ICE Swap + 4.35%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR5,000 | 6058908 |
| CaixaBank SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/08/36, (5-year EURIBOR ICE <br> Swap + 1.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,000 | 8335439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, (5-year EURIBOR ICE Swap + <br> 3.93%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,200 | 2683057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, (5-year EURIBOR ICE Swap + <br> 5.30%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,600 | 3333752 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Citigroup, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.49%, 10/22/34, (3-mo. EURIBOR + <br> 1.03%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,735 | $8819324 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.67%, 07/24/28, (3-mo. CME Term <br> SOFR + 1.65%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,200 | 10105596 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 05/14/32, (3-mo. EURIBOR + <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR14,345 | 16916561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.17%, 02/13/30, (1-day SOFR + <br> 1.36%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,990 | 10142257 |
| &nbsp;&nbsp;&nbsp; 5.92%, 12/11/30<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD24,587 | 23406603 |
| &nbsp;&nbsp;&nbsp; 6.35%, 09/09/30<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD40,455 | 39528297 |
| Commerzbank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 11/26/30, (3-mo. EURIBOR + <br> 0.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,500 | 5203838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, (5-year EURIBOR ICE Swap + <br> 4.24%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | 244820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, (5-year EURIBOR ICE Swap + <br> 5.13%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,200 | 1564667 |
| &nbsp;&nbsp;&nbsp; Commonwealth Bank of Australia, 3.79%, <br> 08/26/37, (5-year EURIBOR ICE Swap + <br> 1.32%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,575 | 4136188 |
| Cooperatieve Rabobank UA, 3.25%<sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; EUR1,200 | 1408399 |
| &nbsp;&nbsp;&nbsp; Danske Bank A/S, 3.50%, 11/19/35, (5-year <br> EURIBOR ICE Swap + 1.18%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,100 | 8216002 |
| Deutsche Bank AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.50%, (5-year EURIBOR ICE Swap + <br> 4.55%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR5,800 | 6786719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, (5-year EURIBOR ICE Swap + <br> 4.74%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,200 | 8339359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, (5-year USD ICE Swap + <br> 4.36%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,800 | 2970537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series ., 7.13%, (5-year EURIBOR ICE <br> Swap + 4.60%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1225490 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series .., 6.75%, (5-year EURIBOR ICE <br> Swap + 4.04%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,800 | 3318871 |
| &nbsp;&nbsp;&nbsp; Eurobank SA, 4.25%, 04/30/35, (5-year <br> EURIBOR ICE Swap + 2.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,172 | 3701389 |
| &nbsp;&nbsp;&nbsp; Freedom Mortgage Corp., 12.25%, <br> 10/01/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | 108526 |
| &nbsp;&nbsp;&nbsp; Goldman Sachs Bank USA/New York, <br> 6.60%, 09/12/30<sup>(b)(i)</sup><br>| &nbsp;&nbsp;&nbsp; USD40,455 | 38699253 |
| Goldman Sachs Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 0.88%, 05/09/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,200 | 2408141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.51%, 08/17/33, (3-mo. EURIBOR + <br> 0.95%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR13,070 | 15052751 |
| Goldman Sachs Group, Inc.(The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.62%, 03/15/28, (1-day SOFR + <br> 1.85%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,175 | 10103579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.98%, 12/18/36, (3-mo. EURIBOR + <br> 1.10%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,500 | 2894622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.69%, 10/23/30, (1-day SOFR + <br> 1.14%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,155 | 3154936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 07/23/30, (1-day SOFR + <br> 1.21%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,028 | 10143341 |
| &nbsp;&nbsp;&nbsp; HSBC Holdings PLC, 3.31%, 05/13/30, <br> (3-mo. EURIBOR + 1.27%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR8,252 | 9648690 |
| ING Groep NV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 08/15/34, (5-year EURIBOR ICE <br> Swap + 1.65%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,000 | 8334770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, (5-year USD ICE Swap + <br> 4.08%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,750 | 2889112 |
| &nbsp;&nbsp;&nbsp; Intesa Sanpaolo SpA, Series -\*, 6.38%, <br> (5-year EUR Swap + 5.56%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR8,600 | 10408806 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.74%, 10/15/30, (3-mo. CME Term <br> SOFR + 1.51%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,580 | $6197249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.85%, 07/25/28, (1-day SOFR + <br> 1.99%)<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,040 | 10094764 |
| LG Electronics, Inc., 5.63%, 04/24/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,866 | 2896322 |
| &nbsp;&nbsp;&nbsp; Lloyds Banking Group PLC, 4.00%, <br> 05/09/35, (5-year EURIBOR ICE Swap + <br> 1.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,000 | 8232399 |
| &nbsp;&nbsp;&nbsp; Macquarie Bank Ltd., 5.31%, 08/20/36, <br> (3-month BB Swap + 1.32%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD4,780 | 3428457 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.75%, 11/07/36, (3-mo. EURIBOR + <br> 1.12%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,950 | 2223352 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 01/24/29, (3-mo. CME Term <br> SOFR + 1.40%)<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,270 | 3228733 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.79%, 03/21/30, (3-mo. EURIBOR + <br> 1.04%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR8,400 | 9959285 |
| &nbsp;&nbsp;&nbsp; 3.96%, 03/21/35<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; EUR6,429 | 7565307 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.24%, 01/09/30, (1-day SOFR + <br> 0.80%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,248 | 10143487 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.65%, 10/18/30, (1-day SOFR + <br> 1.10%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,160 | 3154629 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.66%, 03/02/29, (3-mo. EURIBOR + <br> 1.30%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR28,037 | 33696606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.12%, 02/01/29, (1-day SOFR + <br> 1.73%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,275 | 3308579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/20/29, (1-day SOFR + <br> 1.63%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,925 | 10107389 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Finance LLC,0.00%, <br> 05/08/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR107,223 | 125965396 |
| National Australia Bank Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.26%, 11/14/35, (3-month BB Swap + <br> 1.30%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD5,000 | 3612962 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.77%, 07/30/40, (3-month BB Swap + <br> 1.70%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD3,000 | 2064212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.34%, 06/06/39, (3-month BB Swap + <br> 2.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,347 | 968532 |
| National Bank of Greece SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.80%, (5-year EURIBOR ICE Swap + <br> 3.32%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,575 | 2972884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 06/28/35, (5-year EURIBOR ICE <br> Swap + 3.15%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,597 | 4459150 |
| &nbsp;&nbsp;&nbsp; NatWest Group PLC, 3.72%, 02/25/35, <br> (5-year EURIBOR ICE Swap + <br> 1.40%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,100 | 8258113 |
| &nbsp;&nbsp;&nbsp; Royal Bank of Canada, 3.25%, 01/22/31, <br> (3-mo. EURIBOR + 0.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,100 | 8290993 |
| &nbsp;&nbsp;&nbsp; Standard Chartered PLC, 7.00%, (5-year <br> CMT + 2.87%)<sup>(a)(b)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,000 | 6091675 |
| &nbsp;&nbsp;&nbsp; Sumitomo Mitsui Financial Group, Inc., <br> 6.45%, (5-year CMT + 1.90%)<sup>(b)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,700 | 2692700 |
| &nbsp;&nbsp;&nbsp; U.S. Bank NA/Cincinnati OH, 4.73%, <br> 05/15/28, (1-day SOFR + 0.91%)<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,890 | 9924939 |
| UBS Group AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.13%, 06/15/30, (1-year EURIBOR ICE <br> Swap + 1.35%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,000 | 8139617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/17/32, (1-year EURIBOR ICE <br> Swap + 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,176 | 3920111 |
| &nbsp;&nbsp;&nbsp; 7.75%, 03/01/29<sup>(b)(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,200 | 2781026 |
| &nbsp;&nbsp;&nbsp; Series .., 7.13%<sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; AUD2,877 | 2024692 |
| &nbsp;&nbsp;&nbsp; UniCredit SpA, 4.30%, 01/23/31, (3-mo. <br> EURIBOR + 1.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR8,200 | 9861034 |
| United Overseas Bank Ltd., 3.00%<sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; SGD4,000 | 3128935 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.74%, 05/04/30, (3-mo. EURIBOR + <br> 1.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,500 | $5035517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/30/30, (3-mo. CME Term <br> SOFR + 1.43%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,915 | 9359839 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 07/22/32, (3-mo. EURIBOR + <br> 1.22%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR11,321 | 13438038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.81%, 07/25/28, (1-day SOFR + <br> 1.98%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD13,295 | 13350092 |
| Westpac Banking Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.82%, 06/04/40, (3-month BB Swap + <br> 1.78%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD4,000 | 2759195 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.09%, 02/12/41, (3-month BB Swap + <br> 1.33%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD3,950 | 2759058 |
| &nbsp;&nbsp;&nbsp; 6.14%, 11/13/45<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; AUD4,610 | 3173633 |
|  |  | 772759149 |
| **Beverages — 0.0%** | **Beverages — 0.0%** | **Beverages — 0.0%** |
| &nbsp;&nbsp;&nbsp; Primo Water Holdings, Inc./Triton Water <br> Holdings, Inc., 4.38%, 04/30/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,646 | 2582219 |
| **Biotechnology — 0.0%** | **Biotechnology — 0.0%** | **Biotechnology — 0.0%** |
| &nbsp;&nbsp;&nbsp; Biocon Biologics Global PLC, 6.67%, <br> 10/09/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD300 | 301650 |
| Genmab A/S/Genmab Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 12/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,414 | 1451118 |
| &nbsp;&nbsp;&nbsp; 7.25%, 12/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,699 | 3856827 |
|  |  | 5609595 |
| **Building Materials — 0.5%** | **Building Materials — 0.5%** | **Building Materials — 0.5%** |
| Builders FirstSource, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,086 | 1062772 |
| &nbsp;&nbsp;&nbsp; 6.38%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,951 | 1964597 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,530 | 4507519 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,395 | 1408781 |
| Cesar Spa |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 09/30/31, (3-mo. EURIBOR + <br> 4.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,894 | 4611861 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/30/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR6,288 | 7457955 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP/Emerald <br> Co-Issuer, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 12/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR11,019 | 13338262 |
| &nbsp;&nbsp;&nbsp; 6.63%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,963 | 6104794 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD427 | 441427 |
| HT Troplast GmbH, 9.38%, 07/15/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,829 | 5758433 |
| &nbsp;&nbsp;&nbsp; James Hardie International Finance DAC, <br> 5.00%, 01/15/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD651 | 648957 |
| Quikrete Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,765 | 6871738 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/01/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,987 | 4043076 |
| Sisecam U.K. PLC |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, 05/02/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,407 | 3501442 |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/23/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD963 | 981056 |
| &nbsp;&nbsp;&nbsp; Smyrna Ready Mix Concrete LLC, 8.88%, <br> 11/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,747 | 7064527 |
| Standard Building Solutions, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,312 | 4309237 |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,598 | 3633548 |
| Standard Industries, Inc./New York |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,174 | 1120906 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,102 | 3084156 |
|  |  | 81915044 |
| **Chemicals — 1.1%** | **Chemicals — 1.1%** | **Chemicals — 1.1%** |
| Alpek SAB de CV, 3.25%, 02/25/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD454 | 394708 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems Dutch Holding B <br> BV, 7.25%, 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD506 | 525425 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems LLC, 3.38%, <br> 02/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD678 | $645591 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems LLC/Axalta Coating <br> Systems Dutch Holding B BV, 4.75%, <br> 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,875 | 1866454 |
| Brenntag Finance BV |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 10/02/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,800 | 4361715 |
| &nbsp;&nbsp;&nbsp; 3.75%, 04/24/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR900 | 1065455 |
| Celanese U.S. Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/15/30<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD18 | 18413 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/31<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,302 | 1354728 |
| &nbsp;&nbsp;&nbsp; 7.33%, 07/15/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,646 | 4874035 |
| &nbsp;&nbsp;&nbsp; 7.38%, 07/15/32<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,688 | 3908476 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/34<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,059 | 5296692 |
| Chemours Co.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD250 | 239797 |
| &nbsp;&nbsp;&nbsp; 7.88%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,874 | 2939007 |
| &nbsp;&nbsp;&nbsp; 8.00%, 01/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,542 | 3650704 |
| &nbsp;&nbsp;&nbsp; Equate Petrochemical Co KSCC, 4.25%, <br> 11/03/26<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD678 | 675424 |
| &nbsp;&nbsp;&nbsp; FIS Fabbrica Italiana Sintetici SpA, 5.28%, <br> 02/05/31, (3-mo. EURIBOR + 3.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,446 | 1694194 |
| &nbsp;&nbsp;&nbsp; FMC Corp., 8.45%, 11/01/55, (5-year CMT + <br> 4.37%)<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,228 | 4127506 |
| GC Treasury Center Co. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, (5-year CMT + 2.82%)<sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; USD4,455 | 4382606 |
| &nbsp;&nbsp;&nbsp; 7.13%, (5-year CMT + 3.16%)<sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; USD3,205 | 3148912 |
| Herens Holdco SARL, 4.75%, 05/15/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,682 | 1488570 |
| Huntsman International LLC |  |  |
| &nbsp;&nbsp;&nbsp; 2.95%, 06/15/31 | &nbsp;&nbsp;&nbsp; USD2,237 | 1910057 |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/01/29 | &nbsp;&nbsp;&nbsp; USD1,751 | 1676909 |
| Ineos Finance PLC, 6.38%, 04/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,397 | 6203800 |
| INEOS Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD916 | 919965 |
| &nbsp;&nbsp;&nbsp; 7.25%, 03/31/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,098 | 4656005 |
| &nbsp;&nbsp;&nbsp; 7.50%, 04/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,378 | 5311333 |
| Ineos Quattro Finance 2 PLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR730 | 783561 |
| &nbsp;&nbsp;&nbsp; 8.50%, 03/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR6,023 | 6877836 |
| Italmatch Chemicals SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.15%, 02/05/31, (3-mo. EURIBOR + <br> 4.13%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,886 | 4516039 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/05/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,367 | 1596897 |
| &nbsp;&nbsp;&nbsp; Itelyum Regeneration SpA, 5.75%, <br> 04/15/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR15,414 | 18229506 |
| &nbsp;&nbsp;&nbsp; Kronos International, Inc., 9.50%, <br> 03/15/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR8,309 | 8957230 |
| &nbsp;&nbsp;&nbsp; Lenzing AG, 9.00%, (3-year EURIBOR ICE <br> Swap + 12.11%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,800 | 5629631 |
| Lune Holdings SARL, 5.63%, 11/15/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,892 | 119595 |
| &nbsp;&nbsp;&nbsp; LYB International Finance II BV, 3.50%, <br> 03/02/27<br>| &nbsp;&nbsp;&nbsp; USD2,200 | 2183123 |
| Methanex Corp., 5.13%, 10/15/27 | &nbsp;&nbsp;&nbsp; USD4,677 | 4679632 |
| NOVA Chemicals Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/01/27<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,795 | 3793360 |
| &nbsp;&nbsp;&nbsp; 7.00%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | 105822 |
| &nbsp;&nbsp;&nbsp; 9.00%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,329 | 3510886 |
| OCP SA |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/23/51<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD521 | 416446 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/02/54<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD989 | 1063571 |
| Olin Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 02/01/30<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD921 | 892627 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/01/29 | &nbsp;&nbsp;&nbsp; USD1,162 | 1154193 |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/01/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,508 | 2484543 |
| Olympus Water U.S. Holding Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 10/01/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,421 | 1574308 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Chemicals (continued)** | **Chemicals (continued)** | **Chemicals (continued)** |
| &nbsp;&nbsp;&nbsp; 6.13%, 02/15/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,819 | $6732912 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,490 | 3411245 |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD350 | 352075 |
| &nbsp;&nbsp;&nbsp; Series 144\*, 7.25%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,184 | 7021949 |
| &nbsp;&nbsp;&nbsp; Orbia Advance Corp. SAB de CV, 6.75%, <br> 09/19/42<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD449 | 387262 |
| Perimeter Holdings LLC, 6.25%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD332 | 330400 |
| &nbsp;&nbsp;&nbsp; Sasol Financing USA LLC, 8.75%, <br> 04/10/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | 209850 |
| SCIH Salt Holdings, Inc., 4.88%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,285 | 3252825 |
| &nbsp;&nbsp;&nbsp; SCIL IV LLC/SCIL USA Holdings LLC, <br> 9.50%, 07/15/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,852 | 3470627 |
| &nbsp;&nbsp;&nbsp; Sherwin-Williams Co. (The), 3.45%, <br> 06/01/27<br>| &nbsp;&nbsp;&nbsp; USD5,035 | 4990106 |
| &nbsp;&nbsp;&nbsp; SK Invictus Intermediate II SARL, 5.00%, <br> 10/30/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,595 | 1571712 |
| SNF Group SACA, 4.50%, 03/15/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR6,000 | 7141339 |
| &nbsp;&nbsp;&nbsp; Solstice Advanced Materials, Inc., 5.63%, <br> 09/30/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD334 | 332221 |
| Synthomer PLC, 7.38%, 05/02/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,295 | 3693062 |
| WR Grace Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,303 | 1293326 |
| &nbsp;&nbsp;&nbsp; 7.00%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,989 | 3962433 |
|  |  | 184058631 |
| **Coal — 0.0%** | **Coal — 0.0%** | **Coal — 0.0%** |
| Australian Metcoal Financing Pty Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/22/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,200 | 1216414 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/22/34<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,200 | 1223600 |
|  |  | 2440014 |
| **Commercial Services — 2.4%** | **Commercial Services — 2.4%** | **Commercial Services — 2.4%** |
| ADT Security Corp.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,530 | 2433133 |
| &nbsp;&nbsp;&nbsp; 5.88%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,188 | 2155502 |
| &nbsp;&nbsp;&nbsp; Albion Financing 1 SARL/Aggreko <br> Holdings, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/21/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR12,885 | 15399759 |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/21/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,714 | 3836562 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, 7.88%, <br> 02/15/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,627 | 3804259 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD9,183 | 9111955 |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,902 | 1956875 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC/Allied Universal <br> Finance Corp./Atlas Luxco 4 SARL<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD600 | 591028 |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/01/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP6,572 | 8712874 |
| Amber Finco PLC, 6.63%, 07/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR9,425 | 11437408 |
| APCOA GmbH, 6.00%, 04/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR10,996 | 12920332 |
| &nbsp;&nbsp;&nbsp; Arena Luxembourg Finance SARL, 4.52%, <br> 05/01/30, (3-mo. EURIBOR + 2.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,820 | 3319607 |
| &nbsp;&nbsp;&nbsp; Autoroutes du Sud de la France SA, 1.38%, <br> 01/22/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,500 | 4939167 |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC/Avis Budget <br> Finance, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 02/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,174 | 3203740 |
| &nbsp;&nbsp;&nbsp; 8.38%, 06/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,315 | 5343536 |
| BCP V Modular Services Finance II PLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 11/30/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,195 | 4655057 |
| &nbsp;&nbsp;&nbsp; 6.13%, 11/30/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP15,500 | 19875572 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/10/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR14,691 | 15115908 |
| &nbsp;&nbsp;&nbsp; Belron U.K. Finance PLC, 5.75%, <br> 10/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,044 | 2064525 |
| &nbsp;&nbsp;&nbsp; Bidvest Group UK PLC (The), 6.20%, <br> 09/17/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD468 | 470345 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| Block, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.75%, 06/01/26<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,452 | $2445474 |
| &nbsp;&nbsp;&nbsp; 3.50%, 06/01/31 | &nbsp;&nbsp;&nbsp; USD767 | 696532 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,413 | 2415435 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD277 | 276465 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/32 | &nbsp;&nbsp;&nbsp; USD4,196 | 4275949 |
| Boels Topholding BV |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 05/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR8,865 | 10564724 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,297 | 2760578 |
| Brink's Co.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,229 | 2218334 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD400 | 409230 |
| &nbsp;&nbsp;&nbsp; 6.75%, 06/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD458 | 469873 |
| &nbsp;&nbsp;&nbsp; Clarivate Science Holdings Corp., 3.88%, <br> 07/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,799 | 4634926 |
| EC Finance PLC, 3.25%, 10/15/26<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR9,584 | 11083569 |
| EquipmentShare.com, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,523 | 4796936 |
| &nbsp;&nbsp;&nbsp; 9.00%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD835 | 865681 |
| &nbsp;&nbsp;&nbsp; Flinders Port Holdings Pty Ltd., 6.10%, <br> 07/10/34<br>| &nbsp;&nbsp;&nbsp; AUD1,000 | 707848 |
| Garda World Security Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD50 | 48996 |
| &nbsp;&nbsp;&nbsp; 8.25%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,544 | 5672316 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,806 | 3926947 |
| GEO Group, Inc. (The), 8.63%, 04/15/29 | &nbsp;&nbsp;&nbsp; USD3,816 | 3970250 |
| Herc Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 03/15/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 198303 |
| &nbsp;&nbsp;&nbsp; 6.63%, 06/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD965 | 988786 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,214 | 5424505 |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,843 | 2977272 |
| ION Platform Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/30/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR10,515 | 10295436 |
| &nbsp;&nbsp;&nbsp; 6.88%, 09/30/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR9,372 | 8704970 |
| &nbsp;&nbsp;&nbsp; 7.88%, 05/01/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR13,758 | 14922000 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance U.S., Inc., 7.88%, <br> 09/30/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,958 | 7738625 |
| Kapla Holding SAS |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/30/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR17,777 | 20847079 |
| &nbsp;&nbsp;&nbsp; 5.13%, 04/30/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR374 | 438015 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 04/30/33, (3-mo. EURIBOR + <br> 3.000%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR733 | 863976 |
| Kaspi.KZ JSC |  |  |
| &nbsp;&nbsp;&nbsp; 5.90%, 04/28/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,720 | 4699350 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/26/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,583 | 3627788 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/26/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,217 | 1232213 |
| Loxam SAS |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR14,511 | 16757343 |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/15/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR900 | 1075140 |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/31/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,404 | 6520486 |
| &nbsp;&nbsp;&nbsp; Motability Operations Group PLC, 4.00%, <br> 01/17/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR6,000 | 7173524 |
| Multiversity SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.40%, 05/17/31, (3-mo. EURIBOR + <br> 4.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,011 | 4731260 |
| &nbsp;&nbsp;&nbsp; 7.13%, 05/17/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR17,613 | 21475614 |
| &nbsp;&nbsp;&nbsp; NSW Ports Finance Co. Pty Ltd., 5.43%, <br> 09/19/34<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD650 | 441663 |
| &nbsp;&nbsp;&nbsp; Prime Security Services <br> Borrower LLC/Prime Finance, Inc., <br> 3.38%, 08/31/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,055 | 2995491 |
| Q-Park Holding I BV |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 03/01/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,229 | 1462100 |
| &nbsp;&nbsp;&nbsp; 5.13%, 02/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,200 | 3803737 |
| Service Corp. International/U.S. |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 08/15/30 | &nbsp;&nbsp;&nbsp; USD766 | 712511 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/15/31 | &nbsp;&nbsp;&nbsp; USD280 | $264550 |
| &nbsp;&nbsp;&nbsp; 4.63%, 12/15/27 | &nbsp;&nbsp;&nbsp; USD1,717 | 1704431 |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/01/29 | &nbsp;&nbsp;&nbsp; USD3,235 | 3228506 |
| &nbsp;&nbsp;&nbsp; Shift4 Payments LLC/Shift4 Payments <br> Finance Sub, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/15/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR12,743 | 14345707 |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,747 | 3739596 |
| &nbsp;&nbsp;&nbsp; Techem Verwaltungsgesellschaft 675 mbH, <br> 4.63%, 07/15/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,559 | 8781614 |
| United Rentals North America, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/15/32 | &nbsp;&nbsp;&nbsp; USD3,083 | 2861519 |
| &nbsp;&nbsp;&nbsp; 3.88%, 11/15/27 | &nbsp;&nbsp;&nbsp; USD597 | 589025 |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/15/30 | &nbsp;&nbsp;&nbsp; USD2,197 | 2106357 |
| &nbsp;&nbsp;&nbsp; 4.88%, 01/15/28 | &nbsp;&nbsp;&nbsp; USD7,355 | 7342001 |
| Wand NewCo 3, Inc., 7.63%, 01/30/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,640 | 3789356 |
| WestConnex Finance Co. Pty Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.94%, 04/30/32 | &nbsp;&nbsp;&nbsp; AUD3,900 | 2784024 |
| &nbsp;&nbsp;&nbsp; 6.41%, 04/30/36 | &nbsp;&nbsp;&nbsp; AUD3,170 | 2262866 |
| Williams Scotsman, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD953 | 943402 |
| &nbsp;&nbsp;&nbsp; 6.63%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,068 | 4175485 |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD144 | 148309 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD25 | 26037 |
| Worldline SA/France |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 09/12/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,700 | 4010416 |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/27/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR6,800 | 7078118 |
|  |  | 413875713 |
| **Computers — 0.4%** | **Computers — 0.4%** | **Computers — 0.4%** |
| &nbsp;&nbsp;&nbsp; Almaviva-The Italian Innovation Co. SpA, <br> 5.00%, 10/30/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR10,891 | 12266179 |
| &nbsp;&nbsp;&nbsp; Amentum Holdings, Inc., 7.25%, <br> 08/01/32<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,426 | 1476067 |
| Atos SE, Series ., 9.73%, 12/18/29<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; EUR14,414 | 19304696 |
| CACI International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 06/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD190 | 193325 |
| &nbsp;&nbsp;&nbsp; 6.38%, 06/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,710 | 1749421 |
| &nbsp;&nbsp;&nbsp; Cedacri SpA, 6.61%, 05/15/28, (3-mo. <br> EURIBOR + 4.63%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,782 | 8975081 |
| McAfee Corp., 7.38%, 02/15/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD540 | 437538 |
| NCR Atleos Corp., 9.50%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,933 | 3120293 |
| NCR Voyix Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD527 | 516062 |
| &nbsp;&nbsp;&nbsp; 5.13%, 04/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,827 | 2744704 |
| OVH Groupe SA, 4.75%, 02/05/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,896 | 4530076 |
| Seagate Data Storage Technology Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, 12/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,301 | 3449822 |
| &nbsp;&nbsp;&nbsp; 8.50%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,559 | 1633018 |
| &nbsp;&nbsp;&nbsp; 9.63%, 12/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD130 | 144576 |
|  |  | 60540858 |
| **Cosmetics & Personal Care — 0.2%** | **Cosmetics & Personal Care — 0.2%** | **Cosmetics & Personal Care — 0.2%** |
| Edgewell Personal Care Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,238 | 2138890 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD830 | 828298 |
| Haleon U.S. Capital LLC, 3.38%, 03/24/27 | &nbsp;&nbsp;&nbsp; USD4,265 | 4229259 |
| Opal Bidco SAS |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/31/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR11,436 | 13573417 |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/31/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,564 | 1592280 |
| Perrigo Finance Unlimited Co. |  |  |
| &nbsp;&nbsp;&nbsp; 5.15%, 06/15/30<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,637 | 1552653 |
| &nbsp;&nbsp;&nbsp; 5.38%, 09/30/32 | &nbsp;&nbsp;&nbsp; EUR2,000 | 2271146 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/30/32<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,667 | 2509561 |
| Prestige Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD55 | 50801 |
| &nbsp;&nbsp;&nbsp; 5.13%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD702 | 700959 |
|  |  | 29447264 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Distribution & Wholesale — 0.2%** | **Distribution & Wholesale — 0.2%** | **Distribution & Wholesale — 0.2%** |
| &nbsp;&nbsp;&nbsp; American Builders & Contractors Supply <br> Co., Inc., 3.88%, 11/15/29<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,535 | $1464902 |
| IMCD NV |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 04/30/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR16,500 | 19194498 |
| &nbsp;&nbsp;&nbsp; 4.88%, 09/18/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR7,193 | 8671951 |
| &nbsp;&nbsp;&nbsp; RB Global Holdings, Inc., 6.75%, <br> 03/15/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD334 | 338529 |
|  |  | 29669880 |
| **Diversified Financial Services — 1.9%** | **Diversified Financial Services — 1.9%** | **Diversified Financial Services — 1.9%** |
| Ally Financial, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.65%, 01/17/40, (5-year CMT + <br> 2.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,286 | 2251068 |
| &nbsp;&nbsp;&nbsp; 6.70%, 02/14/33<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD487 | 502804 |
| Aretec Group, Inc., 10.00%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,350 | 3548005 |
| Azorra Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,510 | 2403325 |
| &nbsp;&nbsp;&nbsp; 7.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD644 | 659672 |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,818 | 1881057 |
| &nbsp;&nbsp;&nbsp; Bracken MidCo1 PLC, 6.75%, 11/01/27, <br> (6.75% Cash or 7.50% PIK)<sup>(c)(g)</sup><br>| &nbsp;&nbsp;&nbsp; GBP4,039 | 5486706 |
| &nbsp;&nbsp;&nbsp; Capital One Financial Corp., 3.75%, <br> 03/09/27<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD11,000 | 10956968 |
| Credit Acceptance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/15/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,667 | 4651412 |
| &nbsp;&nbsp;&nbsp; 9.25%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD150 | 156421 |
| CrossCountry Intermediate HoldCo LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,033 | 1997332 |
| &nbsp;&nbsp;&nbsp; 6.75%, 12/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,673 | 2583662 |
| &nbsp;&nbsp;&nbsp; CS Treasury Management Services P Ltd., <br> 9.00%<sup>(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3063375 |
| &nbsp;&nbsp;&nbsp; Encore Capital Group, Inc., 4.25%, <br> 06/01/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP3,445 | 4496389 |
| &nbsp;&nbsp;&nbsp; Focus Financial Partners LLC, 6.75%, <br> 09/15/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,018 | 3070346 |
| Freedom Mortgage Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,337 | 5147995 |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,963 | 4838485 |
| &nbsp;&nbsp;&nbsp; 8.38%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 202771 |
| &nbsp;&nbsp;&nbsp; 9.13%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,531 | 1585755 |
| &nbsp;&nbsp;&nbsp; Garfunkelux Holdco 3 SA, 9.00%, <br> 09/01/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR9,904 | 11677356 |
| GGAM Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,971 | 2013633 |
| &nbsp;&nbsp;&nbsp; 8.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,346 | 2356731 |
| &nbsp;&nbsp;&nbsp; 8.00%, 06/15/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD551 | 573917 |
| GS Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.95%, 01/15/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD47,090 | 44653563 |
| &nbsp;&nbsp;&nbsp; 6.11%, 02/17/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD27,072 | 26342789 |
| &nbsp;&nbsp;&nbsp; 7.35%, 02/17/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD56,226 | 54887709 |
| Hyundai Card Co. Ltd., 5.75%, 04/24/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD6,315 | 6480895 |
| &nbsp;&nbsp;&nbsp; Intrum Investments And Financing AB, <br> 8.00%, 09/11/27<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,511 | 8859691 |
| Jane Street Group/JSG Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD620 | 602154 |
| &nbsp;&nbsp;&nbsp; 6.13%, 11/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,707 | 3726489 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD900 | 924580 |
| &nbsp;&nbsp;&nbsp; 7.13%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,354 | 5550871 |
| Jefferies Finance LLC/JFIN Co-Issuer Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,505 | 2403145 |
| &nbsp;&nbsp;&nbsp; 6.63%, 10/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,606 | 2542802 |
| Muangthai Capital PCL |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 09/30/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,500 | 4522680 |
| &nbsp;&nbsp;&nbsp; 7.55%, 07/21/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,360 | 1379241 |
| Muthoot Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/04/30<sup>(c)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,700 | 1683425 |
| &nbsp;&nbsp;&nbsp; 6.38%, 04/23/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 1005635 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/02/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,376 | $2393820 |
| Osaic Holdings, Inc., 6.75%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,454 | 4523900 |
| PennyMac Financial Services, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,510 | 2388628 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,160 | 4026187 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,028 | 1016717 |
| &nbsp;&nbsp;&nbsp; 6.88%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,417 | 1393412 |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD768 | 778098 |
| &nbsp;&nbsp;&nbsp; 7.88%, 12/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,399 | 2489119 |
| &nbsp;&nbsp;&nbsp; PRA Group Europe Holding II SARL, 6.25%, <br> 09/30/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR5,953 | 6856916 |
| Rocket Companies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD999 | 1011183 |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD10,070 | 10258198 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,889 | 1952518 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage <br> Co-Issuer, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 10/15/26<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,278 | 2257599 |
| &nbsp;&nbsp;&nbsp; 3.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,613 | 1497507 |
| Sammaan Capital Ltd., 7.50%, 10/16/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,745 | 4727206 |
| SLM Corp., 6.50%, 01/31/30 | &nbsp;&nbsp;&nbsp; USD1,621 | 1636555 |
| SRC Sukuk Ltd., 4.38%, 04/02/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,740 | 2721162 |
| &nbsp;&nbsp;&nbsp; Stonex Escrow Issuer LLC, 6.88%, <br> 07/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,361 | 1407199 |
| StoneX Group, Inc., 7.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,222 | 1286684 |
| Synchrony Financial, 7.25%, 02/02/33 | &nbsp;&nbsp;&nbsp; USD2,084 | 2160417 |
| &nbsp;&nbsp;&nbsp; Titanium 2l Bondco SARL, 6.25%, 01/14/31, <br> (6.75% PIK)<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,697 | 477181 |
| Trust Fibra Uno, 7.70%, 01/23/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,872 | 3094609 |
| United Wholesale Mortgage LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,921 | 4695396 |
| &nbsp;&nbsp;&nbsp; 5.75%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD793 | 789697 |
| UWM Holdings LLC, 6.25%, 03/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,865 | 5438918 |
|  |  | 312949680 |
| **Electric — 2.5%** | **Electric — 2.5%** | **Electric — 2.5%** |
| ACEN Finance Ltd., 4.00%<sup>(c)(h)</sup> | &nbsp;&nbsp;&nbsp; USD1,198 | 750547 |
| AES Andes SA, 6.30%, 03/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,930 | 5065082 |
| &nbsp;&nbsp;&nbsp; AES Corp. (The), 6.95%, 07/15/55, (5-year <br> CMT + 2.89%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,324 | 7144915 |
| &nbsp;&nbsp;&nbsp; AES Panama Generation Holdings SRL, <br> 4.38%, 05/31/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,522 | 3322777 |
| AGL Energy Ltd., 5.77%, 09/30/35<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; AUD6,090 | 4157160 |
| Alpha Generation LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,969 | 1955541 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,876 | 1921410 |
| Amprion GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 04/28/56, (5-year EURIBOR ICE <br> Swap + 1.61%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR10,200 | 11896407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 04/28/56, (5-year EURIBOR ICE <br> Swap + 1.96%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,300 | 3858578 |
| &nbsp;&nbsp;&nbsp; Atlantica Sustainable Infrastructure Ltd., <br> 4.13%, 06/15/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | 195349 |
| &nbsp;&nbsp;&nbsp; Atsol Global Ifsc Ltd., 7.62%, <br> 04/09/41<sup>(b)(c)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 4922450 |
| &nbsp;&nbsp;&nbsp; AusNet Services Holdings Pty Ltd., 6.50%, <br> 02/04/56, (3-month BB Swap + 1.77%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,680 | 1172892 |
| &nbsp;&nbsp;&nbsp; AusNet Services Holdings Pty. Ltd., 5.70%, <br> 02/04/56, (3-month BB Swap + <br> 1.77%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD2,170 | 1544841 |
| &nbsp;&nbsp;&nbsp; California Buyer Ltd./Atlantica Sustainable <br> Infrastructure PLC<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 02/15/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR18,356 | 21515606 |
| &nbsp;&nbsp;&nbsp; 6.38%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,934 | 1922252 |
| &nbsp;&nbsp;&nbsp; Clean Renewable Power Mauritius Pte. Ltd., <br> 4.25%, 03/25/27<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,307 | 3257887 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Clearway Energy Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,097 | $1026546 |
| &nbsp;&nbsp;&nbsp; 4.75%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,736 | 3712252 |
| &nbsp;&nbsp;&nbsp; Continuum Energy Aura Pte. Ltd., 9.50%, <br> 02/24/27<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,500 | 4539375 |
| &nbsp;&nbsp;&nbsp; Continuum Green Energy India <br> Pvt/Co-Issuers, 7.50%, 06/26/33<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,882 | 1940955 |
| ContourGlobal Power Holdings SA |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 07/31/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR14,682 | 16714813 |
| &nbsp;&nbsp;&nbsp; 5.00%, 02/28/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR13,451 | 15868865 |
| DPL LLC, 4.35%, 04/15/29 | &nbsp;&nbsp;&nbsp; USD889 | 860782 |
| Edison International |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.88%, 06/15/54, (5-year CMT + <br> 3.66%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,104 | 1138820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.13%, 06/15/53, (5-year CMT + <br> 3.86%)<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,318 | 3404046 |
| EDP SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50%, 03/14/82, (5-year EUR Swap + <br> 1.89%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,000 | 3460567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, 12/02/55, (5-year EURIBOR ICE <br> Swap + 1.92%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,600 | 4103763 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 05/29/54, (5-year EURIBOR ICE <br> Swap + 2.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,700 | 5577361 |
| Electricite de France SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.63%, (5-year EUR Swap + <br> 2.86%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,400 | 2745843 |
| &nbsp;&nbsp;&nbsp; 3.38%, <sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; EUR13,000 | 14437348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, (5-year EURIBOR ICE Swap + <br> 2.07%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR17,800 | 20325300 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, (5-year EURIBOR ICE Swap + <br> 2.94%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,000 | 3576455 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, (5-year EURIBOR ICE Swap + <br> 3.28%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,600 | 3149968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, (15-year GBP Swap + <br> 3.32%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; GBP4,500 | 6014500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, (5-year UK Government Bond + <br> 3.78%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; GBP3,800 | 5295040 |
| &nbsp;&nbsp;&nbsp; Emera, Inc., Series 16-A, 6.75%, 06/15/76, <br> (3-mo. SOFR US + 5.70%)<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,800 | 1801084 |
| Engie Energia Chile SA, 3.40%, 01/28/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,295 | 1220861 |
| &nbsp;&nbsp;&nbsp; Engie SA, 4.37%, (5-year EURIBOR ICE <br> Swap + 1.56%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR15,700 | 18426079 |
| EUSHI Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 04/01/56, (5-year CMT + <br> 2.51%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD459 | 454582 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 12/15/54, (5-year CMT + <br> 3.14%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD507 | 524898 |
| Minejesa Capital BV, 5.63%, 08/10/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD722 | 699062 |
| &nbsp;&nbsp;&nbsp; Mong Duong Finance Holdings BV, 5.13%, <br> 05/07/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,129 | 2102038 |
| MVM Energetika Zrt |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/13/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,841 | 2974243 |
| &nbsp;&nbsp;&nbsp; 7.50%, 06/09/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD13,445 | 14090360 |
| NextEra Energy Capital Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.00%, 05/15/56, (5-year EURIBOR ICE <br> Swap + 1.59%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR27,100 | 30958444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 02/26/56, (5-year EURIBOR ICE <br> Swap + 1.99%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR16,900 | 19107083 |
| NRG Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD267 | 247030 |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,877 | 5855186 |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,536 | 9531653 |
| &nbsp;&nbsp;&nbsp; 5.75%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD863 | 856625 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD506 | 509912 |
| &nbsp;&nbsp;&nbsp; 6.13%, 05/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,071 | 1066953 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active 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; 6.25%, 11/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,050 | $1062211 |
| NSW Electricity Networks Finance Pty. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 11/20/55, (3-month BB Swap + <br> 1.80%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,900 | 1370696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.20%, 03/11/55, (3-month BB Swap + <br> 2.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD660 | 481016 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.28%, 03/11/55, (3-month BB Swap + <br> 2.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD600 | 420285 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.30%, 11/20/55, (3-month BB Swap + <br> 2.20%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD2,420 | 1665846 |
| Orsted A/S |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, (5-year UK Government Bond + <br> 2.14%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP9,738 | 10253750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, (5-year EURIBOR ICE Swap + <br> 2.59%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR375 | 443963 |
| PacifiCorp |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 08/15/56, (5-year CMT + <br> 3.29%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,051 | 3041046 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 09/15/55, (5-year CMT + <br> 3.32%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,776 | 1800635 |
| PG&E Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/01/30 | &nbsp;&nbsp;&nbsp; USD298 | 295010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 09/15/56, (5-year CMT + <br> 3.23%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,900 | 1899619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.38%, 03/15/55, (5-year CMT + <br> 3.88%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,083 | 8313826 |
| Powerco Ltd., 6.43%, 04/28/36 | &nbsp;&nbsp;&nbsp; AUD2,010 | 1437621 |
| Public Power Corp. SA, 4.25%, 10/31/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,688 | 5531416 |
| &nbsp;&nbsp;&nbsp; Puget Energy, Inc., 7.25%, 09/15/56, (5-year <br> CMT + 2.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,900 | 1910680 |
| Renew Treasury Ifsc Pvt Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/02/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD662 | 658227 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/02/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,600 | 1590880 |
| San Miguel Global Power Holdings Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, (5-year CMT + 6.40%)<sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; USD2,035 | 2026738 |
| &nbsp;&nbsp;&nbsp; 8.38%, (5-year CMT + 7.12%)<sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; USD5,127 | 5101416 |
| Saudi Electricity Sukuk Programme Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.94%, 02/13/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,794 | 2804890 |
| &nbsp;&nbsp;&nbsp; 5.23%, 02/18/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD7,640 | 7734201 |
| &nbsp;&nbsp;&nbsp; 5.68%, 04/11/53<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,257 | 4119978 |
| &nbsp;&nbsp;&nbsp; Southern Co. (The), 1.88%, 09/15/81, <br> (5-year EUR Swap + 2.11%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR19,027 | 21681877 |
| &nbsp;&nbsp;&nbsp; Talen Energy Supply LLC, 6.25%, <br> 02/01/34<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,988 | 3958237 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.30%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,395 | 3355548 |
| &nbsp;&nbsp;&nbsp; 4.38%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,179 | 8036703 |
| &nbsp;&nbsp;&nbsp; 4.55%, 10/30/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,375 | 8361391 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/31/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,408 | 2407569 |
| &nbsp;&nbsp;&nbsp; 7.75%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD294 | 308327 |
| VoltaGrid LLC, 7.38%, 11/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,110 | 5303781 |
| XPLR Infrastructure Operating Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 04/15/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD700 | 733706 |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,606 | 3853249 |
| &nbsp;&nbsp;&nbsp; 8.63%, 03/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,195 | 4495428 |
|  |  | 429382152 |
| **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** | **Electrical Components & Equipment — 0.1%** |
| Energizer Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 03/31/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD680 | 654140 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD757 | 746683 |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,441 | 2334335 |
| WESCO Distribution, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,201 | 1200252 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,825 | 4919980 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,911 | 1973859 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electrical Components & Equipment (continued)** | **Electrical Components & Equipment (continued)** | **Electrical Components & Equipment (continued)** |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD700 | $724966 |
| &nbsp;&nbsp;&nbsp; 7.25%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD165 | 165413 |
|  |  | 12719628 |
| **Electronics — 0.1%** | **Electronics — 0.1%** | **Electronics — 0.1%** |
| Hubbell, Inc., 3.50%, 02/15/28<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD8,500 | 8368459 |
| Ingram Micro, Inc., 4.75%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,834 | 3767526 |
| &nbsp;&nbsp;&nbsp; Sensata Technologies BV, 4.00%, <br> 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD714 | 693397 |
| Sensata Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,425 | 2351190 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,872 | 1931494 |
|  |  | 17112066 |
| **Energy - Alternate Sources — 0.1%** | **Energy - Alternate Sources — 0.1%** | **Energy - Alternate Sources — 0.1%** |
| Greenko Wind Projects Mauritius Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 09/27/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,555 | 3586859 |
| &nbsp;&nbsp;&nbsp; 7.25%, 09/27/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,934 | 1951951 |
| India Cleantech Energy, 4.70%, 08/10/26<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,977 | 1969586 |
| ReNew Pvt Ltd., 5.88%, 03/05/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,500 | 3484950 |
|  |  | 10993346 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| AECOM, 6.00%, 08/01/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,556 | 1568702 |
| Arcosa, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD280 | 273123 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,400 | 1454125 |
| Cellnex Finance Co. SA, 3.88%, 01/19/36<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,900 | 5560524 |
| Heathrow Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 09/01/29<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; GBP3,090 | 3927500 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/01/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP3,914 | 5298876 |
| IHS Holding Ltd., 6.25%, 11/29/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD507 | 504465 |
| Ronesans Holding A/S, 8.50%, 10/10/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD958 | 948918 |
| &nbsp;&nbsp;&nbsp; TAV Havalimanlari Holding A/S, 8.50%, <br> 12/07/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD625 | 643750 |
| TopBuild Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,198 | 1190783 |
| &nbsp;&nbsp;&nbsp; 5.63%, 01/31/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD989 | 1001838 |
| &nbsp;&nbsp;&nbsp; Weekley Homes LLC/Weekley Finance <br> Corp., 4.88%, 09/15/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD30 | 29332 |
| &nbsp;&nbsp;&nbsp; Worley Financial Services Pty Ltd., 5.87%, <br> 05/13/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,500 | 1059666 |
|  |  | 23461602 |
| **Entertainment — 1.0%** | **Entertainment — 1.0%** | **Entertainment — 1.0%** |
| Allwyn Entertainment Financing U.K. PLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 02/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR8,472 | 9643447 |
| &nbsp;&nbsp;&nbsp; 4.63%, 08/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,421 | 5102678 |
| &nbsp;&nbsp;&nbsp; 7.25%, 04/30/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR10,879 | 13263144 |
| &nbsp;&nbsp;&nbsp; Banijay Entertainment SASU, 7.00%, <br> 05/01/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,293 | 3974979 |
| &nbsp;&nbsp;&nbsp; Betclic Everest Group SAS, 5.13%, <br> 12/10/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR5,890 | 6929828 |
| Brightstar Lottery PLC, 5.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,899 | 2886522 |
| &nbsp;&nbsp;&nbsp; Brightstar Lottery PLC/Brightstar Global <br> Solutions Corp., 5.75%, 01/15/33<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD268 | 262771 |
| Caesars Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 10/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD268 | 258669 |
| &nbsp;&nbsp;&nbsp; 6.00%, 10/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD7,644 | 6850802 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,163 | 5988309 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD80 | 81216 |
| Churchill Downs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,373 | 6317449 |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,276 | 1274810 |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD132 | 131569 |
| Cinemark USA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,542 | 1536046 |
| &nbsp;&nbsp;&nbsp; 7.00%, 08/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,504 | 1554339 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| Cirsa Finance International SARL |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,226 | $2601565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.15%, 10/15/32, (3-mo. EURIBOR + <br> 3.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,004 | 3536319 |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,886 | 5917796 |
| &nbsp;&nbsp;&nbsp; Discovery Global Holdings, Inc., 4.28%, <br> 03/15/32<br>| &nbsp;&nbsp;&nbsp; USD704 | 637634 |
| Entain PLC, 4.88%, 11/30/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,147 | 3693207 |
| Flutter Treasury DAC, 4.00%, 06/04/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR14,019 | 16051813 |
| Light & Wonder International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,243 | 1232699 |
| &nbsp;&nbsp;&nbsp; 7.25%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD367 | 375362 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,808 | 2926433 |
| Live Nation Entertainment, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD564 | 553100 |
| &nbsp;&nbsp;&nbsp; 4.75%, 10/15/27<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,967 | 1961120 |
| Lottomatica Group Spa, 5.38%, 06/01/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,734 | 2079505 |
| Lottomatica Group SpA |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 04/30/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,655 | 3120312 |
| &nbsp;&nbsp;&nbsp; 4.88%, 01/31/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,205 | 5003722 |
| &nbsp;&nbsp;&nbsp; Penn Entertainment, Inc., 6.75%, <br> 04/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,442 | 2421842 |
| Pinewood Finco PLC, 6.00%, 03/27/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP8,402 | 11306260 |
| &nbsp;&nbsp;&nbsp; Resorts World Las Vegas LLC/RWLV <br> Capital, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 04/16/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,600 | 3213000 |
| &nbsp;&nbsp;&nbsp; 4.63%, 04/16/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 1785000 |
| &nbsp;&nbsp;&nbsp; 8.45%, 07/27/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,200 | 2178574 |
| &nbsp;&nbsp;&nbsp; Rivers Enterprise Borrower LLC/Rivers <br> Enterprise Finance Corp., 6.63%, <br> 02/01/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD800 | 816830 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp., 7.25%, <br> 05/15/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | 197201 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp./Canada's <br> Wonderland Co./Magnum Management <br> Corp., 5.25%, 07/15/29<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD823 | 791762 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp/Canada's <br> Wonderland Co/Millennium <br> Operations LLC, 8.63%, 01/15/32<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,041 | 9191542 |
| &nbsp;&nbsp;&nbsp; Tabcorp Finance Pty. Ltd., 5.99%, <br> 05/28/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD4,960 | 3464967 |
| Vail Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,229 | 2215715 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD216 | 220352 |
| Voyager Parent LLC, 9.25%, 07/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,496 | 4781240 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts <br> Capital Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,026 | 1019192 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,740 | 2753440 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,246 | 2377171 |
|  |  | 164481253 |
| **Environmental Control — 0.3%** | **Environmental Control — 0.3%** | **Environmental Control — 0.3%** |
| Biffa Group Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR15,589 | 18071677 |
| &nbsp;&nbsp;&nbsp; 7.38%, 06/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP4,795 | 6523483 |
| Clean Harbors, Inc., 6.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,336 | 1359698 |
| GFL Environmental, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 08/01/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,246 | 2195008 |
| &nbsp;&nbsp;&nbsp; 4.38%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,510 | 1477121 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,946 | 2911162 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,092 | 2168952 |
| Luna 2.5 SARL, 5.50%, 07/01/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR13,995 | 16470884 |
| Madison IAQ LLC, 4.13%, 06/30/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,354 | 2321199 |
| Reworld Holding Corp., 4.88%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,210 | 1156463 |
| Wrangler Holdco Corp., 6.63%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD116 | 119668 |
|  |  | 54775315 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food — 0.7%** | **Food — 0.7%** | **Food — 0.7%** |
| &nbsp;&nbsp;&nbsp; Albertsons Companies, Inc./Safeway, <br> Inc./New Albertsons LP/Albertsons LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,258 | $4060597 |
| &nbsp;&nbsp;&nbsp; 4.88%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,839 | 4736745 |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/31/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD790 | 785611 |
| &nbsp;&nbsp;&nbsp; 5.63%, 03/31/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,646 | 1623806 |
| &nbsp;&nbsp;&nbsp; 5.75%, 03/31/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,137 | 1106889 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | 100887 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,666 | 2697645 |
| &nbsp;&nbsp;&nbsp; Bellis Acquisition Co. PLC, 8.00%, <br> 07/01/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,449 | 4977667 |
| Boparan Finance PLC, 9.38%, 11/07/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP1,877 | 2687503 |
| Cencosud SA |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD330 | 329782 |
| &nbsp;&nbsp;&nbsp; 5.95%, 05/28/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD364 | 378997 |
| &nbsp;&nbsp;&nbsp; Chobani LLC/Chobani Finance Corp., Inc., <br> 7.63%, 07/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,639 | 3756478 |
| &nbsp;&nbsp;&nbsp; Darling Global Finance BV, 4.50%, <br> 07/15/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,018 | 3567881 |
| &nbsp;&nbsp;&nbsp; Froneri Lux FinCo SARL, 4.75%, <br> 08/01/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR14,530 | 16515794 |
| &nbsp;&nbsp;&nbsp; J&F Luxembourg Finance SARL, 8.50%, <br> 12/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,148 | 2195220 |
| &nbsp;&nbsp;&nbsp; KeHE Distributors LLC/KeHE Finance <br> Corp./NextWave Distribution, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 04/30/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,900 | 1923555 |
| &nbsp;&nbsp;&nbsp; 9.00%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,359 | 1420582 |
| Kraft Heinz Foods Co., 3.88%, 05/15/27 | &nbsp;&nbsp;&nbsp; USD10,020 | 9972607 |
| Lamb Weston Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 01/31/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,026 | 1940973 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/31/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,443 | 1359089 |
| &nbsp;&nbsp;&nbsp; 4.88%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | 99295 |
| &nbsp;&nbsp;&nbsp; Lion/Polaris Lux Midco SARL, 5.75%, <br> 07/01/29, (3-mo. EURIBOR + 3.63%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR6,362 | 7528581 |
| Market Bidco Finco PLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/31/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,961 | 6730860 |
| &nbsp;&nbsp;&nbsp; 8.75%, 01/31/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP1,541 | 1986471 |
| Mars, Inc., 4.80%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,985 | 10086140 |
| &nbsp;&nbsp;&nbsp; Minerva Luxembourg SA, 7.50%, <br> 04/22/36<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD390 | 382395 |
| Performance Food Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,992 | 4839764 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD722 | 731870 |
| Pilgrim's Pride Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/01/32 | &nbsp;&nbsp;&nbsp; USD1,999 | 1825884 |
| &nbsp;&nbsp;&nbsp; 4.25%, 04/15/31 | &nbsp;&nbsp;&nbsp; USD3,239 | 3113145 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/34 | &nbsp;&nbsp;&nbsp; USD373 | 405163 |
| Post Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,455 | 1367901 |
| &nbsp;&nbsp;&nbsp; 4.63%, 04/15/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,258 | 1222190 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,612 | 1642784 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD901 | 889433 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/01/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,193 | 5190980 |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,620 | 2602776 |
| U.S. Foods, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,650 | 1632037 |
| &nbsp;&nbsp;&nbsp; 6.88%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,822 | 4923841 |
|  |  | 123339818 |
| **Food Service — 0.1%** | **Food Service — 0.1%** | **Food Service — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aramark International Finance SARL, <br> 4.38%, 04/15/33<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR9,965 | 11363467 |
| Aramark Services, Inc., 5.00%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,896 | 2890167 |
| &nbsp;&nbsp;&nbsp; gategroup Finance Luxembourg SA, 3.00%, <br> 02/28/27<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; CHF8,025 | 10314007 |
|  |  | 24567641 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Forest Products & Paper — 0.3%** | **Forest Products & Paper — 0.3%** | **Forest Products & Paper — 0.3%** |
| Ahlstrom Holding 3 OY, 4.88%, 02/04/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,689 | $9490439 |
| Fedrigoni SpA, 6.13%, 06/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR10,647 | 12041111 |
| &nbsp;&nbsp;&nbsp; Fiber Bidco SpA, 6.13%, 01/15/30, (3-mo. <br> EURIBOR + 4.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,514 | 2875920 |
| &nbsp;&nbsp;&nbsp; Fiber Midco SpA, 10.75%, 06/15/29, (6.25% <br> PIK)<sup>(c)(g)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,053 | 903818 |
| &nbsp;&nbsp;&nbsp; LD Celulose International GmbH, 7.95%, <br> 01/26/32<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD608 | 633244 |
| Magnera Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 11/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD260 | 238147 |
| &nbsp;&nbsp;&nbsp; 7.25%, 11/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,936 | 4621503 |
| &nbsp;&nbsp;&nbsp; Sappi Papier Holding GmbH, 4.50%, <br> 03/15/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR9,697 | 10217010 |
| Suzano Austria GmbH |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/30 | &nbsp;&nbsp;&nbsp; USD4,890 | 4858215 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,833 | 4936909 |
|  |  | 50816316 |
| **Gas — 0.2%** | **Gas — 0.2%** | **Gas — 0.2%** |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP/AmeriGas <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 9.38%, 06/01/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD990 | 1015692 |
| &nbsp;&nbsp;&nbsp; 9.50%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,161 | 4442966 |
| APA Infrastructure Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.37%, 04/28/56, (3-month BB Swap + <br> 2.00%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,690 | 1217446 |
| &nbsp;&nbsp;&nbsp; 6.42%, 04/28/36 | &nbsp;&nbsp;&nbsp; AUD2,400 | 1719569 |
| &nbsp;&nbsp;&nbsp; Centrica PLC, 6.50%, 05/21/55, (5-year UK <br> Government Bond + 2.51%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP5,312 | 7242889 |
| EP Infrastructure A/S |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 02/27/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,020 | 4580068 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/29/34<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR8,100 | 9324607 |
| &nbsp;&nbsp;&nbsp; Promigas SA ESP/Gases del Pacifico SAC, <br> 3.75%, 10/16/29<sup>(c)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,886 | 5509590 |
|  |  | 35052827 |
| **Hand & Machine Tools — 0.0%** | **Hand & Machine Tools — 0.0%** | **Hand & Machine Tools — 0.0%** |
| &nbsp;&nbsp;&nbsp; Dynamo Newco II GmbH, 6.25%, <br> 10/15/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,591 | 4767892 |
| **Health Care - Products — 0.3%** | **Health Care - Products — 0.3%** | **Health Care - Products — 0.3%** |
| Avantor Funding, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 11/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD572 | 543749 |
| &nbsp;&nbsp;&nbsp; 4.63%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,749 | 3694980 |
| Bausch & Lomb Corp., 8.38%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,873 | 6063872 |
| &nbsp;&nbsp;&nbsp; DENTSPLY SIRONA, Inc., 8.38%, 09/12/55, <br> (5-year CMT + 4.38%)<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,390 | 3408174 |
| Medline Borrower LP, 5.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,048 | 7014245 |
| &nbsp;&nbsp;&nbsp; Medtronic Global Holdings SCA, 1.63%, <br> 03/07/31<br>| &nbsp;&nbsp;&nbsp; EUR6,000 | 6486601 |
| Solventum Corp., 5.45%, 02/25/27<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD16,605 | 16717350 |
| Teleflex, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,427 | 1406277 |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/15/27 | &nbsp;&nbsp;&nbsp; USD954 | 949057 |
|  |  | 46284305 |
| **Health Care - Services — 1.0%** | **Health Care - Services — 1.0%** | **Health Care - Services — 1.0%** |
| Acadia Healthcare Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,237 | 2188961 |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,270 | 1263578 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,510 | 1544567 |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories <br> International, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 03/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD453 | 433189 |
| &nbsp;&nbsp;&nbsp; 4.00%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD476 | 444410 |
| &nbsp;&nbsp;&nbsp; 4.25%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,296 | 2254638 |
| CHS/Community Health Systems, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD150 | 140353 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD737 | 731163 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| &nbsp;&nbsp;&nbsp; 9.75%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17,050 | $17585545 |
| &nbsp;&nbsp;&nbsp; 10.88%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,532 | 1645351 |
| Clariane SE, 6.88%, 04/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,141 | 6109003 |
| DaVita, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD751 | 727007 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD9,108 | 9390986 |
| &nbsp;&nbsp;&nbsp; 6.88%, 09/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,432 | 3542480 |
| Encompass Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/01/28 | &nbsp;&nbsp;&nbsp; USD1,600 | 1587595 |
| &nbsp;&nbsp;&nbsp; 4.63%, 04/01/31 | &nbsp;&nbsp;&nbsp; USD110 | 106983 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/01/30 | &nbsp;&nbsp;&nbsp; USD1,822 | 1793787 |
| Ephios Subco 3 SARL, 7.88%, 01/31/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR11,147 | 13794834 |
| &nbsp;&nbsp;&nbsp; Global Medical Response, Inc., 7.38%, <br> 10/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,829 | 2949063 |
| &nbsp;&nbsp;&nbsp; Gruppo San Donato SpA, 6.50%, <br> 10/31/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR12,092 | 14174032 |
| HCA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 03/15/27<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD8,810 | 8726361 |
| &nbsp;&nbsp;&nbsp; 4.13%, 06/15/29 | &nbsp;&nbsp;&nbsp; USD3,310 | 3265498 |
| &nbsp;&nbsp;&nbsp; Humana, Inc., 6.63%, 09/15/56, (5-year <br> CMT + 2.89%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,170 | 3123569 |
| IQVIA, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,672 | 3671954 |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,529 | 2526967 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,387 | 1415565 |
| LifePoint Health, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,972 | 1922832 |
| &nbsp;&nbsp;&nbsp; 8.38%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,618 | 3795984 |
| &nbsp;&nbsp;&nbsp; 9.88%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,993 | 2112971 |
| Mehilainen Yhtiot Oy |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/30/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR21,706 | 25571773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.51%, 06/30/32, (3-mo. EURIBOR + <br> 3.38%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR896 | 1057508 |
| Molina Healthcare, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,292 | 3977302 |
| &nbsp;&nbsp;&nbsp; 3.88%, 05/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,307 | 1173125 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,839 | 1837066 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD841 | 855675 |
| Star Parent, Inc., 9.00%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD190 | 199035 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 06/01/29 | &nbsp;&nbsp;&nbsp; USD2,923 | 2847096 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/15/30 | &nbsp;&nbsp;&nbsp; USD402 | 389451 |
| &nbsp;&nbsp;&nbsp; 4.63%, 06/15/28 | &nbsp;&nbsp;&nbsp; USD8,238 | 8174583 |
| &nbsp;&nbsp;&nbsp; 5.13%, 11/01/27 | &nbsp;&nbsp;&nbsp; USD2,810 | 2807472 |
| &nbsp;&nbsp;&nbsp; 6.13%, 10/01/28 | &nbsp;&nbsp;&nbsp; USD1,945 | 1949899 |
| &nbsp;&nbsp;&nbsp; 6.13%, 06/15/30 | &nbsp;&nbsp;&nbsp; USD6,429 | 6467214 |
|  |  | 170276425 |
| **Holding Companies - Diversified — 0.3%** | **Holding Companies - Diversified — 0.3%** | **Holding Companies - Diversified — 0.3%** |
| FS KKR Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 01/15/30<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,253 | 2183151 |
| &nbsp;&nbsp;&nbsp; 6.13%, 01/15/31<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,343 | 1297256 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/15/29 | &nbsp;&nbsp;&nbsp; USD2,697 | 2688543 |
| HA Sustainable Infrastructure Capital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 11/15/56, (5-year CMT + <br> 3.48%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD959 | 968091 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 06/01/56, (5-year CMT + <br> 4.30%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,166 | 2299209 |
| MDGH GMTN RSC Ltd., 4.38%, 11/22/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD542 | 519713 |
| Progroup AG |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 04/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,129 | 3721923 |
| &nbsp;&nbsp;&nbsp; 5.38%, 04/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR15,982 | 18871777 |
| Stena International SA |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,127 | 5212970 |
| &nbsp;&nbsp;&nbsp; 7.63%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,736 | 2804414 |
| &nbsp;&nbsp;&nbsp; Turkiye Varlik Fonu Yonetimi A/S, 8.25%, <br> 02/14/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD468 | 491400 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** | **Holding Companies - Diversified (continued)** |
| TVF Varlik Kiralama A/S, 6.95%, 01/23/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD6,809 | $6876545 |
|  |  | 47934992 |
| **Home Builders — 0.2%** | **Home Builders — 0.2%** | **Home Builders — 0.2%** |
| &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods <br> Finance Co.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD510 | 485569 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,438 | 2392123 |
| &nbsp;&nbsp;&nbsp; Brookfield Residential Properties, <br> Inc./Brookfield Residential U.S. LLC, <br> 4.88%, 02/15/30<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,215 | 4889225 |
| Century Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD126 | 119319 |
| &nbsp;&nbsp;&nbsp; 6.63%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,430 | 2417799 |
| LGI Homes, Inc., 7.00%, 11/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,529 | 4340429 |
| Maison Finco PLC, 7.25%, 04/30/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP4,055 | 5222627 |
| Mattamy Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,074 | 1025686 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,091 | 2007497 |
| Taylor Morrison Communities, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,026 | 1021850 |
| &nbsp;&nbsp;&nbsp; 5.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,631 | 1645720 |
|  |  | 25567844 |
| **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** | **Home Furnishings — 0.0%** |
| Somnigroup International, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD547 | 505919 |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,640 | 1586493 |
| Whirlpool Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 06/15/30<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,585 | 1554305 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/33<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,512 | 3363662 |
|  |  | 7010379 |
| **Household Products & Wares — 0.0%** | **Household Products & Wares — 0.0%** | **Household Products & Wares — 0.0%** |
| Ontex Group NV, 5.25%, 04/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,802 | 1922899 |
| **Housewares — 0.1%** | **Housewares — 0.1%** | **Housewares — 0.1%** |
| Central Garden & Pet Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 10/15/30 | &nbsp;&nbsp;&nbsp; USD111 | 104831 |
| &nbsp;&nbsp;&nbsp; 4.13%, 04/30/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD732 | 686671 |
| Newell Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 05/15/30<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,272 | 3204615 |
| &nbsp;&nbsp;&nbsp; 6.63%, 09/15/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,598 | 1596902 |
| &nbsp;&nbsp;&nbsp; 6.63%, 05/15/32<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,641 | 3534622 |
| &nbsp;&nbsp;&nbsp; 8.50%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD529 | 552786 |
| Scotts Miracle-Gro Co.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/01/31 | &nbsp;&nbsp;&nbsp; USD1,215 | 1130487 |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/15/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD662 | 648799 |
|  |  | 11459713 |
| **Insurance — 0.9%** | **Insurance — 0.9%** | **Insurance — 0.9%** |
| Acrisure LLC/Acrisure Finance, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,795 | 4724091 |
| &nbsp;&nbsp;&nbsp; 7.50%, 11/06/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,440 | 3493401 |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant <br> Holdings Co-Issuer<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 196908 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,761 | 3686821 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD566 | 570839 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,110 | 2108531 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,110 | 2153451 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD6,901 | 6780847 |
| &nbsp;&nbsp;&nbsp; American National Group, Inc., 7.00%, <br> 12/01/55, (5-year CMT + 3.18%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,400 | 3322578 |
| AmWINS Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,854 | 3727203 |
| &nbsp;&nbsp;&nbsp; 6.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD340 | 343962 |
| Ardonagh Finco Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 02/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR24,668 | 28984843 |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD6,625 | 6763340 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Insurance (continued)** | **Insurance (continued)** | **Insurance (continued)** |
| &nbsp;&nbsp;&nbsp; BNP Paribas Cardif SA, 6.00%, (5-year <br> EURIBOR ICE Swap + 3.37%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR21,800 | $25388043 |
| Global Atlantic Fin Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.25%, 03/01/56, (5-year CMT + <br> 3.55%)<sup>(a)(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,646 | 1622401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.95%, 10/15/54, (5-year CMT + <br> 3.61%)<sup>(a)(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,250 | 2256367 |
| &nbsp;&nbsp;&nbsp; Howden U.K. Refinance PLC/Howden U.K. <br> Refinance 2 PLC/Howden U.S. Refinance <br> LLC, 8.13%, 02/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,385 | 7054134 |
| HUB International Ltd., 7.25%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11,164 | 11548834 |
| &nbsp;&nbsp;&nbsp; Insurance Australia Group Ltd., 5.85%, <br> 06/15/37, (3-month BB Swap + <br> 1.68%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD840 | 610775 |
| &nbsp;&nbsp;&nbsp; Jones Deslauriers Insurance Management, <br> Inc., 8.50%, 03/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,608 | 2688352 |
| &nbsp;&nbsp;&nbsp; Nanshan Life Pte. Ltd., 5.88%, 03/17/41, <br> (5-year CMT + 1.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,995 | 2940072 |
| &nbsp;&nbsp;&nbsp; Panther Escrow Issuer LLC, 7.13%, <br> 06/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,240 | 7273903 |
| &nbsp;&nbsp;&nbsp; Peak RE Bvi Holding Ltd., 5.63%, (5-year <br> CMT + 3.00%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,250 | 2257402 |
| Ryan Specialty LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,569 | 1522620 |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,107 | 1106830 |
| &nbsp;&nbsp;&nbsp; Shin Kong Life Singapore Pte. Ltd., 6.95%, <br> 06/26/35<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,200 | 1256672 |
| &nbsp;&nbsp;&nbsp; Sompo Holdings, Inc., 5.41%, 04/22/37, <br> (1-year CMT + 2.13%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,325 | 4255583 |
| &nbsp;&nbsp;&nbsp; Standard Life PLC, 8.50%, (5-year CMT + <br> 4.19%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,520 | 1619834 |
| &nbsp;&nbsp;&nbsp; UnipolSai Assicurazioni SpA, 4.90%, <br> 05/23/34<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,600 | 4369606 |
|  |  | 144628243 |
| **Internet — 0.9%** | **Internet — 0.9%** | **Internet — 0.9%** |
| Alphabet, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 05/06/45 | &nbsp;&nbsp;&nbsp; EUR4,800 | 5294350 |
| &nbsp;&nbsp;&nbsp; 4.38%, 11/06/64 | &nbsp;&nbsp;&nbsp; EUR4,789 | 5311537 |
| &nbsp;&nbsp;&nbsp; 6.13%, 02/13/2126 | &nbsp;&nbsp;&nbsp; GBP6,630 | 8353032 |
| Arches Buyer, Inc., 4.25%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,678 | 3599500 |
| Beignet Investor LLC, 6.58%, 05/30/49<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD47,214 | 48759841 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Group LLC/Cogent <br> Finance, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,641 | 4303831 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,221 | 1213537 |
| &nbsp;&nbsp;&nbsp; Engineering - Ingegneria Informatica - SpA, <br> 11.13%, 05/15/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,930 | 3529325 |
| Gen Digital, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,100 | 2046441 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,341 | 3354778 |
| &nbsp;&nbsp;&nbsp; Go Daddy Operating Co. LLC/GD Finance <br> Co., Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,867 | 1744707 |
| &nbsp;&nbsp;&nbsp; 5.25%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,747 | 1743447 |
| iliad SA, 4.25%, 01/09/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,400 | 6277265 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance U.S., Inc./ION <br> Platform Finance SARL<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD190 | 177711 |
| &nbsp;&nbsp;&nbsp; 9.00%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,908 | 2686741 |
| Match Group Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/01/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,643 | 1543058 |
| &nbsp;&nbsp;&nbsp; 5.00%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,594 | 1589013 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,065 | 2040317 |
| Prosus NV |  |  |
| &nbsp;&nbsp;&nbsp; 3.06%, 07/13/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD7,090 | 6473170 |
| &nbsp;&nbsp;&nbsp; 3.26%, 01/19/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,731 | 1708393 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| &nbsp;&nbsp;&nbsp; 3.68%, 01/21/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,835 | $1757701 |
| &nbsp;&nbsp;&nbsp; 4.03%, 08/03/50<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD935 | 644916 |
| Rakuten Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, (5-year EUR Swap + <br> 4.74%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR6,853 | 7852284 |
| &nbsp;&nbsp;&nbsp; 6.25%, (5-year CMT + 4.96%)<sup>(a)(b)(h)</sup> | &nbsp;&nbsp;&nbsp; USD2,919 | 2754438 |
| &nbsp;&nbsp;&nbsp; 8.13%, (5-year CMT + 4.25%)<sup>(a)(b)(h)</sup> | &nbsp;&nbsp;&nbsp; USD5,937 | 6064774 |
| &nbsp;&nbsp;&nbsp; 9.75%, 04/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 1097011 |
| Snap, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,087 | 1058235 |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/15/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,717 | 4565454 |
| United Group BV, 5.25%, 02/01/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR6,636 | 7734259 |
| Wayfair LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD986 | 996853 |
| &nbsp;&nbsp;&nbsp; 7.25%, 10/31/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD537 | 550303 |
| &nbsp;&nbsp;&nbsp; 7.75%, 09/15/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,463 | 4630738 |
|  |  | 151456960 |
| **Iron & Steel — 0.2%** | **Iron & Steel — 0.2%** | **Iron & Steel — 0.2%** |
| Cleveland-Cliffs, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 11/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,122 | 1143357 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,660 | 2658342 |
| &nbsp;&nbsp;&nbsp; 7.38%, 05/01/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,711 | 1729186 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,708 | 1744187 |
| &nbsp;&nbsp;&nbsp; 7.63%, 01/15/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD6,704 | 6771938 |
| Commercial Metals Co. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 11/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,595 | 1597667 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD900 | 899110 |
| Krakatau Posco PT, 6.38%, 06/11/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 2021980 |
| Mineral Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 05/01/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD387 | 382134 |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/01/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD800 | 830374 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/01/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD991 | 1020778 |
| &nbsp;&nbsp;&nbsp; 9.25%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,826 | 1895188 |
| &nbsp;&nbsp;&nbsp; Samarco Mineracao SA, 9.50%, 06/30/31, <br> (4.00% Cash + 5.00% PIK)<sup>(c)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,779 | 8787951 |
| Steel Dynamics, Inc., 3.45%, 04/15/30 | &nbsp;&nbsp;&nbsp; USD8,660 | 8297953 |
| Vale Overseas Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 02/25/56, (5-year CMT + <br> 2.43%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD790 | 794661 |
| &nbsp;&nbsp;&nbsp; 6.40%, 06/28/54<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD304 | 311220 |
|  |  | 40886026 |
| **Leisure Time — 0.4%** | **Leisure Time — 0.4%** | **Leisure Time — 0.4%** |
| Amadeus IT Group SA, 3.38%, 03/25/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,000 | 3496724 |
| Deuce Finco PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 11/20/32, (3-mo. EURIBOR + <br> 3.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,895 | 4611853 |
| &nbsp;&nbsp;&nbsp; 7.00%, 11/20/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP8,332 | 11323108 |
| Dometic Group AB, 5.00%, 09/11/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR9,075 | 10495293 |
| NCL Corp. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,131 | 2074145 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD678 | 656190 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,190 | 5164536 |
| &nbsp;&nbsp;&nbsp; 7.75%, 02/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,272 | 1327869 |
| NCL Finance Ltd., 6.13%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,613 | 1636461 |
| Pinnacle Bidco PLC, 10.00%, 10/11/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP5,632 | 7990284 |
| TUI Cruises GmbH |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,837 | 4463817 |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,000 | 1200332 |
| Viking Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,553 | 1557169 |
| &nbsp;&nbsp;&nbsp; 9.13%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,192 | 3363512 |
| VOC Escrow Ltd., 5.00%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,581 | 1577638 |
|  |  | 60938931 |
| **Lodging — 0.7%** | **Lodging — 0.7%** | **Lodging — 0.7%** |
| Boyd Gaming Corp., 4.75%, 12/01/27<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,495 | 2483795 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Lodging (continued)** | **Lodging (continued)** | **Lodging (continued)** |
| Essendi SA |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR7,133 | $8376571 |
| &nbsp;&nbsp;&nbsp; 5.63%, 05/15/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR12,613 | 14724276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 05/15/32, (3-mo. EURIBOR + <br> 3.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,404 | 5211749 |
| &nbsp;&nbsp;&nbsp; 6.38%, 10/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR800 | 963860 |
| Fortune Star BVI Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 3.95%, 10/02/26<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,500 | 6409242 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/20/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,030 | 1150834 |
| Gohl Capital Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 7.63%, (5-year CMT + 3.71%)<sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; USD3,792 | 3755066 |
| &nbsp;&nbsp;&nbsp; 8.30%, (5-year CMT + 4.26%)<sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; USD4,400 | 4356880 |
| Hilton Domestic Operating Co., Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD689 | 630768 |
| &nbsp;&nbsp;&nbsp; 3.75%, 05/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD300 | 289523 |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,905 | 3698116 |
| &nbsp;&nbsp;&nbsp; 4.88%, 01/15/30 | &nbsp;&nbsp;&nbsp; USD950 | 943034 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,315 | 5388108 |
| &nbsp;&nbsp;&nbsp; 6.13%, 04/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD963 | 980905 |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Borrower <br> Escrow LLC/Hilton Grand Vacations <br> Borrower Esc<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 07/01/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,192 | 2028513 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,988 | 2891668 |
| &nbsp;&nbsp;&nbsp; 6.63%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD676 | 683847 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Finance LLC/Hilton <br> Worldwide Finance Corp., 4.88%, <br> 04/01/27<br>| &nbsp;&nbsp;&nbsp; USD2,703 | 2696395 |
| Marriott Ownership Resorts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD190 | 181685 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,233 | 3108674 |
| Melco Resorts Finance Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/21/28<sup>(c)(f)</sup> | &nbsp;&nbsp;&nbsp; USD6,000 | 5958330 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/24/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD673 | 667111 |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/17/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD643 | 661853 |
| MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/15/27<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD872 | 873229 |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/15/29 | &nbsp;&nbsp;&nbsp; USD2,581 | 2614865 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/15/32<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,341 | 2370614 |
| Station Casinos LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,019 | 1003154 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,001 | 3038410 |
| Studio City Finance Ltd., 5.00%, 01/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD7,211 | 6875328 |
| Travel and Leisure Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 12/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 193247 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/01/27<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD150 | 150205 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/31/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,203 | 4203908 |
| TVL Finance PLC, 10.25%, 04/28/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP1,594 | 2081974 |
| &nbsp;&nbsp;&nbsp; Wyndham Hotels & Resorts, Inc., 5.63%, <br> 03/01/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD265 | 262233 |
| Wynn Macau Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/01/27<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,505 | 2495231 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/26/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,624 | 4596896 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/26/28<sup>(c)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,500 | 2485346 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/15/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,864 | 2867580 |
|  |  | 114353023 |
| **Machinery — 0.1%** | **Machinery — 0.1%** | **Machinery — 0.1%** |
| Esab Corp., 5.63%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,608 | 1622808 |
| &nbsp;&nbsp;&nbsp; King US Bidco, Inc., 5.45%, 12/01/32, <br> (3-mo. EURIBOR + 3.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,200 | 3781897 |
| Terex Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,248 | 1239514 |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD595 | 604738 |
| &nbsp;&nbsp;&nbsp; TK Elevator U.S. Newco, Inc., 5.25%, <br> 07/15/27<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,885 | 1885469 |
|  |  | 9134426 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Manufacturing — 0.2%** | **Manufacturing — 0.2%** | **Manufacturing — 0.2%** |
| Avient Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 11/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD411 | $416969 |
| &nbsp;&nbsp;&nbsp; 7.13%, 08/01/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,755 | 2805912 |
| Axon Enterprise, Inc., 6.13%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,763 | 2825212 |
| Maxam Prill SARL, 6.00%, 07/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR23,320 | 27639318 |
|  |  | 33687411 |
| **Media — 1.6%** | **Media — 1.6%** | **Media — 1.6%** |
| &nbsp;&nbsp;&nbsp; AMC Global Media, Inc., 10.50%, <br> 07/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,999 | 4122445 |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings <br> Capital Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,993 | 2718429 |
| &nbsp;&nbsp;&nbsp; 4.50%, 06/01/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD7,974 | 6850508 |
| &nbsp;&nbsp;&nbsp; 4.75%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,139 | 8663127 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD6,500 | 5820295 |
| &nbsp;&nbsp;&nbsp; 5.00%, 02/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD590 | 583075 |
| &nbsp;&nbsp;&nbsp; 5.13%, 05/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,828 | 4822672 |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,584 | 4510014 |
| &nbsp;&nbsp;&nbsp; 6.38%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD84 | 84146 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/01/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD6,741 | 6644828 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/01/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,049 | 5110709 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/01/36<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,004 | 4905717 |
| &nbsp;&nbsp;&nbsp; Charter Communications <br> Operating LLC/Charter Communications <br> Operating Capital, 3.75%, 02/15/28<br>| &nbsp;&nbsp;&nbsp; USD10,230 | 10062563 |
| Directv Financing LLC |  |  |
| &nbsp;&nbsp;&nbsp; 8.88%, 02/01/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,246 | 1266701 |
| &nbsp;&nbsp;&nbsp; 8.88%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,217 | 6331840 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC/Directv Financing <br> Co-Obligor, Inc., 10.00%, 02/15/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,485 | 8828558 |
| Discovery Communications LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/15/30 | &nbsp;&nbsp;&nbsp; USD110 | 103410 |
| &nbsp;&nbsp;&nbsp; 5.00%, 09/20/37 | &nbsp;&nbsp;&nbsp; USD7,666 | 5826160 |
| &nbsp;&nbsp;&nbsp; 6.35%, 06/01/40 | &nbsp;&nbsp;&nbsp; USD10,013 | 7911146 |
| EchoStar Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 11/30/30, (6.75% Cash or 6.75% <br> PIK)<sup>(f)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,290 | 8411165 |
| &nbsp;&nbsp;&nbsp; 10.75%, 11/30/29 | &nbsp;&nbsp;&nbsp; USD5,725 | 6215933 |
| Gray Media, Inc., 9.63%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,984 | 10150883 |
| Grupo Televisa SAB, 6.63%, 01/15/40 | &nbsp;&nbsp;&nbsp; USD443 | 384856 |
| iHeartCommunications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,228 | 5031950 |
| &nbsp;&nbsp;&nbsp; 9.13%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,805 | 1808366 |
| McGraw-Hill Education, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD779 | 773090 |
| &nbsp;&nbsp;&nbsp; 7.38%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,159 | 4297204 |
| Nexstar Media, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,321 | 2286790 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,520 | 1531698 |
| &nbsp;&nbsp;&nbsp; 7.25%, 04/15/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,012 | 4037621 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/28/57, (3-mo. SOFR US + <br> 4.16%)<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,053 | 752287 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 03/30/62, (5-year CMT + <br> 4.00%)<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,731 | 4444629 |
| &nbsp;&nbsp;&nbsp; Sinclair Television Group, Inc., 8.13%, <br> 02/15/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,064 | 4208556 |
| Sirius XM Radio LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,455 | 5297391 |
| &nbsp;&nbsp;&nbsp; 4.13%, 07/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,881 | 3611229 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/27<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD6,119 | 6101395 |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,331 | 2314187 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,528 | 1502470 |
| Sunrise FinCo I BV |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 05/15/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR10,354 | 12028886 |
| &nbsp;&nbsp;&nbsp; 4.88%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,371 | 8042187 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp; Telenet Finance Luxembourg Notes SARL, <br> 5.50%, 03/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,600 | $8506066 |
| Univision Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 190822 |
| &nbsp;&nbsp;&nbsp; 7.38%, 06/30/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD424 | 423597 |
| &nbsp;&nbsp;&nbsp; 8.50%, 07/31/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,073 | 5148587 |
| &nbsp;&nbsp;&nbsp; 8.88%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,398 | 3416521 |
| &nbsp;&nbsp;&nbsp; 9.38%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,158 | 3268050 |
| &nbsp;&nbsp;&nbsp; Versant Media Group, Inc., 7.25%, <br> 01/30/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,000 | 3114793 |
| &nbsp;&nbsp;&nbsp; Virgin Media O2 Vendor Financing Notes V <br> DAC, 7.88%, 03/15/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP8,016 | 9715338 |
| &nbsp;&nbsp;&nbsp; Virgin Media O2 Vendor Financing Notes VI <br> DAC, 8.50%, 03/15/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,289 | 7439786 |
| Virgin Media Secured Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP1,500 | 1844915 |
| &nbsp;&nbsp;&nbsp; 4.50%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD400 | 354043 |
| VZ Secured Financing BV |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,091 | 7966188 |
| &nbsp;&nbsp;&nbsp; 5.25%, 01/15/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR24,977 | 27841339 |
| &nbsp;&nbsp;&nbsp; 7.50%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,000 | 969312 |
| Ziggo Bond Co. BV |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 02/28/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,896 | 3984254 |
| &nbsp;&nbsp;&nbsp; 6.13%, 11/15/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,392 | 2503166 |
| Ziggo BV, 4.88%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD733 | 689516 |
|  |  | 275775409 |
| **Mining — 0.4%** | **Mining — 0.4%** | **Mining — 0.4%** |
| Alcoa Nederland Holding BV |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 03/31/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 194371 |
| &nbsp;&nbsp;&nbsp; 7.13%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,555 | 2629289 |
| Alumina Pty. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 204432 |
| &nbsp;&nbsp;&nbsp; 6.38%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,690 | 1737592 |
| &nbsp;&nbsp;&nbsp; AngloGold Ashanti Holdings PLC, 3.75%, <br> 10/01/30<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD468 | 447876 |
| Arsenal AIC Parent LLC |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,690 | 1766799 |
| &nbsp;&nbsp;&nbsp; 11.50%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,262 | 2447054 |
| Constellium SE, 3.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD313 | 301859 |
| &nbsp;&nbsp;&nbsp; Corp. Nacional del Cobre de Chile, 3.15%, <br> 01/14/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,146 | 7680130 |
| Fortescue Treasury Pty Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,531 | 1519059 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,455 | 1484595 |
| &nbsp;&nbsp;&nbsp; Fortescue Treasury Pty. Ltd., 4.38%, <br> 04/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD965 | 922094 |
| Freeport Indonesia PT |  |  |
| &nbsp;&nbsp;&nbsp; 4.76%, 04/14/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,889 | 4890842 |
| &nbsp;&nbsp;&nbsp; 6.20%, 04/14/52<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD882 | 866018 |
| &nbsp;&nbsp;&nbsp; Industrias Penoles SAB de CV, 4.15%, <br> 09/12/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,859 | 2804679 |
| &nbsp;&nbsp;&nbsp; Kaiser Aluminum Corp., 4.50%, <br> 06/01/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD978 | 938164 |
| Marcobre SAC, 5.75%, 01/22/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD588 | 580062 |
| Navoi Mining & Metallurgical Combinat |  |  |
| &nbsp;&nbsp;&nbsp; 6.70%, 10/17/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD722 | 741855 |
| &nbsp;&nbsp;&nbsp; 6.70%, 10/17/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD6,574 | 6754785 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/14/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,903 | 1981499 |
| Nickel Industries Ltd., 9.00%, 09/30/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,480 | 2570198 |
| Novelis Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD80 | 72722 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/30/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,842 | 5586412 |
| &nbsp;&nbsp;&nbsp; 6.88%, 01/30/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,523 | 2586620 |
| Stillwater Mining Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/16/26<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,731 | 1720458 |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/16/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD701 | 668141 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mining (continued)** | **Mining (continued)** | **Mining (continued)** |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/16/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,931 | $1840484 |
| Vedanta Resources Finance II PLC |  |  |
| &nbsp;&nbsp;&nbsp; 9.48%, 07/24/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,396 | 3557310 |
| &nbsp;&nbsp;&nbsp; 10.88%, 09/17/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD5,035 | 5343394 |
|  |  | 64838793 |
| **Office & Business Equipment — 0.0%** | **Office & Business Equipment — 0.0%** | **Office & Business Equipment — 0.0%** |
| Xerox Corp., 10.25%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,169 | 6821115 |
| **Oil & Gas — 1.5%** | **Oil & Gas — 1.5%** | **Oil & Gas — 1.5%** |
| &nbsp;&nbsp;&nbsp; Aethon United BR LP/Aethon United <br> Finance Corp., 7.50%, 10/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,359 | 3509137 |
| &nbsp;&nbsp;&nbsp; Ampol Ltd., 5.85%, 10/30/55, (3-month BB <br> Swap + 2.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD2,450 | 1664042 |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC/ARU <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/30/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,322 | 3326242 |
| &nbsp;&nbsp;&nbsp; 6.63%, 07/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD230 | 236301 |
| &nbsp;&nbsp;&nbsp; Azule Energy Finance PLC, 8.25%, <br> 01/22/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,963 | 8211844 |
| Breakwater Energy Holdings SARL |  |  |
| &nbsp;&nbsp;&nbsp; 9.25%, 11/15/30 | &nbsp;&nbsp;&nbsp; USD6,024 | 6415470 |
| &nbsp;&nbsp;&nbsp; 9.25%, 11/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,525 | 4819057 |
| California Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,844 | 2902106 |
| &nbsp;&nbsp;&nbsp; 8.25%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD92 | 95932 |
| Chord Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,086 | 2126247 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD106 | 110301 |
| CNX Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,928 | 2008663 |
| &nbsp;&nbsp;&nbsp; 7.38%, 01/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,621 | 1670846 |
| Comstock Resources, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD925 | 895995 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,177 | 8149718 |
| Crescent Energy Finance LLC |  |  |
| &nbsp;&nbsp;&nbsp; 7.38%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,392 | 3471553 |
| &nbsp;&nbsp;&nbsp; 7.63%, 04/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,474 | 1517744 |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,536 | 1592379 |
| &nbsp;&nbsp;&nbsp; 8.38%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,849 | 3013045 |
| CVR Energy, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD518 | 524591 |
| &nbsp;&nbsp;&nbsp; 7.88%, 02/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,415 | 3425385 |
| Energean PLC, 5.63%, 05/12/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,009 | 3477821 |
| &nbsp;&nbsp;&nbsp; Eni SpA, 4.13%, (5-year EURIBOR ICE <br> Swap + 1.64%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR8,730 | 9967974 |
| EQT Corp., 7.50%, 06/01/30 | &nbsp;&nbsp;&nbsp; USD9,070 | 9850793 |
| Hilcorp Energy I LP/Hilcorp Finance Co. |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD530 | 527901 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/01/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,392 | 4340603 |
| &nbsp;&nbsp;&nbsp; 6.25%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD190 | 191005 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD615 | 618055 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/15/35<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,068 | 4148915 |
| &nbsp;&nbsp;&nbsp; 8.38%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,035 | 2176030 |
| &nbsp;&nbsp;&nbsp; Ithaca Energy North Sea PLC, 5.50%, <br> 10/01/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR11,892 | 14116618 |
| Matador Resources Co. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,048 | 1065780 |
| &nbsp;&nbsp;&nbsp; 6.50%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,289 | 3358608 |
| &nbsp;&nbsp;&nbsp; MC Brazil Downstream Trading SARL, <br> 7.25%, 06/30/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD769 | 719715 |
| Medco Maple Tree Pte. Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 8.96%, 04/27/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD592 | 611240 |
| &nbsp;&nbsp;&nbsp; 8.96%, 04/27/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,963 | 2026797 |
| Murphy Oil Corp., 6.50%, 02/15/34 | &nbsp;&nbsp;&nbsp; USD1,508 | 1519624 |
| Noble Finance II LLC, 8.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,660 | 4846708 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| Northern Oil & Gas, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,161 | $4312437 |
| &nbsp;&nbsp;&nbsp; 8.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD390 | 407250 |
| Permian Resources Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 07/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,236 | 1237002 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,006 | 5207341 |
| Petroleos Mexicanos |  |  |
| &nbsp;&nbsp;&nbsp; 5.35%, 02/12/28 | &nbsp;&nbsp;&nbsp; USD696 | 694810 |
| &nbsp;&nbsp;&nbsp; 6.49%, 01/23/27<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,392 | 1401048 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/23/29 | &nbsp;&nbsp;&nbsp; USD6,965 | 7100817 |
| &nbsp;&nbsp;&nbsp; 6.84%, 01/23/30 | &nbsp;&nbsp;&nbsp; USD2,494 | 2540139 |
| &nbsp;&nbsp;&nbsp; 6.95%, 01/28/60 | &nbsp;&nbsp;&nbsp; USD1,848 | 1534764 |
| &nbsp;&nbsp;&nbsp; 8.75%, 06/02/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD28,382 | 30396469 |
| &nbsp;&nbsp;&nbsp; Pluspetrol Camisea SA/Pluspetrol Lote 56 <br> SA, 6.24%, 07/03/36<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD636 | 664747 |
| &nbsp;&nbsp;&nbsp; PRIO Luxembourg Holding SARL, 6.75%, <br> 10/15/30<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD594 | 591493 |
| &nbsp;&nbsp;&nbsp; Puma International Financing SA, 7.75%, <br> 04/25/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,560 | 1603680 |
| &nbsp;&nbsp;&nbsp; Raizen Fuels Finance SA, 6.70%, <br> 02/25/37<sup>(c)(j)(k)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,656 | 900450 |
| &nbsp;&nbsp;&nbsp; Range Resources Corp., 4.75%, <br> 02/15/30<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD300 | 294348 |
| Saudi Arabian Oil Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/02/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,866 | 1839176 |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/02/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,840 | 2833809 |
| SEPLAT Energy PLC, 9.13%, 03/21/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,183 | 3394669 |
| &nbsp;&nbsp;&nbsp; SierraCol Energy Andina LLC, 6.00%, <br> 06/15/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,255 | 1213811 |
| SM Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,260 | 3305069 |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,165 | 2220848 |
| &nbsp;&nbsp;&nbsp; 7.00%, 08/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,519 | 1559282 |
| &nbsp;&nbsp;&nbsp; 8.63%, 11/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,992 | 3164863 |
| &nbsp;&nbsp;&nbsp; 9.63%, 06/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,269 | 1414021 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,802 | 5685927 |
| &nbsp;&nbsp;&nbsp; 4.63%, 05/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,840 | 4707113 |
| &nbsp;&nbsp;&nbsp; 6.25%, 07/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD566 | 578465 |
| &nbsp;&nbsp;&nbsp; 6.63%, 08/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,726 | 3809492 |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,978 | 2042586 |
| &nbsp;&nbsp;&nbsp; 7.25%, 05/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD197 | 206324 |
| Sunoco LP/Sunoco Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/15/29 | &nbsp;&nbsp;&nbsp; USD500 | 491020 |
| &nbsp;&nbsp;&nbsp; 4.50%, 04/30/30 | &nbsp;&nbsp;&nbsp; USD600 | 582990 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/15/28 | &nbsp;&nbsp;&nbsp; USD100 | 100122 |
| &nbsp;&nbsp;&nbsp; 7.00%, 09/15/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,708 | 1748679 |
| &nbsp;&nbsp;&nbsp; Thaioil Treasury Center Co. Ltd., <br> 6.10%<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,515 | 2458412 |
| &nbsp;&nbsp;&nbsp; TotalEnergies SE, Series ., 2.00%, (5-year <br> EUR Swap + 1.90%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,500 | 5215861 |
| &nbsp;&nbsp;&nbsp; TPAO Varlik Kiralama ASA, 6.30%, <br> 03/04/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,601 | 2558734 |
| &nbsp;&nbsp;&nbsp; Transocean International Ltd., 7.88%, <br> 10/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,137 | 4432978 |
| &nbsp;&nbsp;&nbsp; Trident Energy Finance PLC, 12.50%, <br> 11/30/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD472 | 503846 |
| &nbsp;&nbsp;&nbsp; Tullow Holdco 2 Ltd., 15.00%, 11/15/28, <br> (15.00% PIK)<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,993 | 2046313 |
| Valaris Ltd., 8.38%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,948 | 4116852 |
| &nbsp;&nbsp;&nbsp; Var Energi ASA, 4.95%, 04/29/86, (5-year <br> EURIBOR ICE Swap + 2.31%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,875 | 4513783 |
| &nbsp;&nbsp;&nbsp; Wintershall Dea Finance 2 BV, 6.12%, <br> (5-year EURIBOR ICE Swap + <br> 3.94%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR8,203 | 9770354 |
|  |  | 258652979 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** | **Oil & Gas Services — 0.3%** |
| &nbsp;&nbsp;&nbsp; Archrock Partners LP/Archrock Partners <br> Finance Corp., 6.63%, 09/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,358 | $2426281 |
| Deepocean Ltd., 6.00%, 04/08/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR13,380 | 16058639 |
| &nbsp;&nbsp;&nbsp; Kodiak Gas Services LLC, 5.88%, <br> 04/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,274 | 4305055 |
| OEG Finance PLC, 7.25%, 09/27/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR21,292 | 26031784 |
| &nbsp;&nbsp;&nbsp; USA Compression Partners LP/USA <br> Compression Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/01/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD452 | 456118 |
| &nbsp;&nbsp;&nbsp; 7.13%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,300 | 3410332 |
| WBI Operating LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,608 | 2644277 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD761 | 769188 |
|  |  | 56101674 |
| **Packaging & Containers — 0.6%** | **Packaging & Containers — 0.6%** | **Packaging & Containers — 0.6%** |
| Ardagh Group SA |  |  |
| &nbsp;&nbsp;&nbsp; 9.50%, 12/01/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD12,007 | 12731879 |
| &nbsp;&nbsp;&nbsp; 9.50%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,083 | 1148163 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.00%, 12/01/30, (4.50% Cash + 7.50% <br> PIK)<sup>(c)(g)</sup><br>| &nbsp;&nbsp;&nbsp; EUR12,050 | 12613649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.00%, 12/01/30, (5.50% Cash + 6.50% <br> PIK)<sup>(a)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,982 | 5368247 |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance <br> USA LLC/Ardagh Metal Packaging <br> Finance PLC<br>|  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 09/01/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,199 | 1361907 |
| &nbsp;&nbsp;&nbsp; 3.00%, 09/01/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,837 | 6431225 |
| &nbsp;&nbsp;&nbsp; 4.00%, 09/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,073 | 4747893 |
| Ball Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 08/15/30 | &nbsp;&nbsp;&nbsp; USD80 | 72770 |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/15/33 | &nbsp;&nbsp;&nbsp; USD705 | 706874 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/15/29 | &nbsp;&nbsp;&nbsp; USD4,883 | 4967691 |
| Clydesdale Acquisition Holdings, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD230 | 226382 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,433 | 1348191 |
| &nbsp;&nbsp;&nbsp; 8.75%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,082 | 8240336 |
| &nbsp;&nbsp;&nbsp; Crown Americas LLC/Crown Americas <br> Capital Corp. V, 4.25%, 09/30/26<br>| &nbsp;&nbsp;&nbsp; USD2,851 | 2843126 |
| Graphic Packaging International LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 02/01/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD996 | 930268 |
| &nbsp;&nbsp;&nbsp; 6.38%, 07/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,015 | 2011045 |
| &nbsp;&nbsp;&nbsp; Kleopatra Finco SARL, 6.00%, 01/30/31, <br> (2.00% Cash + 5.00% PIK)<sup>(g)(l)</sup><br>| &nbsp;&nbsp;&nbsp; EUR5,811 | 5524551 |
| Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD95 | 96061 |
| &nbsp;&nbsp;&nbsp; 9.25%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10,851 | 10341665 |
| OI European Group BV, 4.75%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD187 | 173623 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container, Inc., <br> 7.25%, 05/15/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,026 | 4803176 |
| Stora Enso Oyj |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, (5-year EURIBOR ICE Swap + <br> 2.84%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,775 | 2102209 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series ., 5.88%, (5-year EURIBOR ICE <br> Swap + 3.12%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,575 | 1861690 |
| Sword Purchaser LLC |  |  |
| &nbsp;&nbsp;&nbsp; 8.25%, 04/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,995 | 2041200 |
| &nbsp;&nbsp;&nbsp; 10.50%, 04/15/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,597 | 2642513 |
| &nbsp;&nbsp;&nbsp; Trivium Packaging Finance BV, 12.25%, <br> 01/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,127 | 5589860 |
|  |  | 100926194 |
| **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** | **Pharmaceuticals — 1.0%** |
| AdaptHealth LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 08/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 1936672 |
| &nbsp;&nbsp;&nbsp; 5.13%, 03/01/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,780 | 1731052 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** | **Pharmaceuticals (continued)** |
| &nbsp;&nbsp;&nbsp; Althea Acquisition Bidco SARL, 5.40%, <br> 01/20/33<sup>(b)(l)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,678 | $1972517 |
| Bayer AG |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38%, 03/25/82, (5-year EUR Swap + <br> 4.46%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR12,800 | 15218162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 09/25/83, (5-year EUR Swap + <br> 3.43%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR8,700 | 10705559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 09/25/83, (5-year EUR Swap + <br> 3.90%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR6,800 | 8654269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series N5.5, 4.50%, 03/25/82, (5-year <br> EUR Swap + 3.75%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR700 | 825584 |
| &nbsp;&nbsp;&nbsp; Bayer U.S. Finance II LLC, 4.38%, <br> 12/15/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,535 | 2515555 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 12/10/54, (5-year CMT + <br> 2.52%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD456 | 472428 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 03/10/55, (5-year CMT + <br> 2.89%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,084 | 5274738 |
| Dolcetto Holdco SpA |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/14/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR17,518 | 20545788 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.78%, 07/14/32, (3-mo. EURIBOR + <br> 3.63%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR595 | 702818 |
| &nbsp;&nbsp;&nbsp; Endo Finance Holdings LP, 8.50%, <br> 04/15/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,850 | 4081193 |
| Grifols SA |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 05/01/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,195 | 5111044 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/01/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR9,965 | 12145170 |
| Gruenenthal GmbH, 6.75%, 05/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,489 | 5453593 |
| &nbsp;&nbsp;&nbsp; Hikma Finance USA LLC, 5.13%, <br> 07/08/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,126 | 5121233 |
| &nbsp;&nbsp;&nbsp; HLF Financing SARL LLC/Herbalife <br> International, Inc., 4.88%, 06/01/29<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,553 | 5221531 |
| Jazz Securities DAC, 4.38%, 01/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,104 | 4013663 |
| &nbsp;&nbsp;&nbsp; Merck Financial Services GmbH, 0.88%, <br> 07/05/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,400 | 4555881 |
| Nidda Healthcare Holding GmbH |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.23%, 10/15/32, (3-mo. EURIBOR + <br> 3.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR14,205 | 16696646 |
| &nbsp;&nbsp;&nbsp; 5.38%, 10/23/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,500 | 2945434 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/21/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,917 | 7156817 |
| Rossini SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.00%, 12/31/29, (3-mo. EURIBOR + <br> 3.88%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR825 | 975222 |
| &nbsp;&nbsp;&nbsp; 6.75%, 12/31/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,868 | 2273491 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands <br> II BV<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 06/01/31 | &nbsp;&nbsp;&nbsp; EUR229 | 267573 |
| &nbsp;&nbsp;&nbsp; 4.38%, 05/09/30 | &nbsp;&nbsp;&nbsp; EUR3,923 | 4658051 |
| &nbsp;&nbsp;&nbsp; Teva Pharmaceutical Finance Netherlands <br> III BV<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.15%, 10/01/26 | &nbsp;&nbsp;&nbsp; USD5,830 | 5778987 |
| &nbsp;&nbsp;&nbsp; 4.75%, 05/09/27 | &nbsp;&nbsp;&nbsp; USD2,382 | 2379046 |
| &nbsp;&nbsp;&nbsp; 7.88%, 09/15/29 | &nbsp;&nbsp;&nbsp; USD2,824 | 3041194 |
|  |  | 162430911 |
| **Pipelines — 0.8%** | **Pipelines — 0.8%** | **Pipelines — 0.8%** |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero <br> Midstream Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,819 | 1817155 |
| &nbsp;&nbsp;&nbsp; 5.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD817 | 816890 |
| &nbsp;&nbsp;&nbsp; 5.75%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD476 | 475059 |
| &nbsp;&nbsp;&nbsp; 6.63%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,694 | 2762611 |
| &nbsp;&nbsp;&nbsp; Blue Racer Midstream LLC/Blue Racer <br> Finance Corp., 7.00%, 07/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,590 | 1646803 |
| Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 12/01/27 | &nbsp;&nbsp;&nbsp; USD2,770 | 2723172 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp; 6.88%, 07/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD965 | $996369 |
| &nbsp;&nbsp;&nbsp; Cheniere Energy Partners LP, 4.50%, <br> 10/01/29<br>| &nbsp;&nbsp;&nbsp; USD6,775 | 6740273 |
| CQP Holdco LP/BIP-V Chinook Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,146 | 2119844 |
| &nbsp;&nbsp;&nbsp; 7.50%, 12/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,479 | 1572525 |
| &nbsp;&nbsp;&nbsp; Delek Logistics Partners LP/Delek Logistics <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,307 | 1306850 |
| &nbsp;&nbsp;&nbsp; 7.38%, 06/30/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,017 | 3113676 |
| &nbsp;&nbsp;&nbsp; 8.63%, 03/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,036 | 2124269 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.50%, 02/15/56, (5-year CMT + <br> 2.68%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,433 | 3442252 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.75%, 02/15/56, (5-year CMT + <br> 2.48%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD794 | 799706 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 10/01/54, (5-year CMT + <br> 2.83%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,207 | 2265986 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 05/15/54, (5-year CMT + <br> 4.02%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD388 | 411290 |
| &nbsp;&nbsp;&nbsp; Genesis Energy LP/Genesis Energy <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 05/15/32 | &nbsp;&nbsp;&nbsp; USD3,085 | 3234262 |
| &nbsp;&nbsp;&nbsp; 8.00%, 05/15/33 | &nbsp;&nbsp;&nbsp; USD3,409 | 3588794 |
| &nbsp;&nbsp;&nbsp; 8.25%, 01/15/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD835 | 867864 |
| Global Partners LP/GLP Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 07/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD984 | 1008442 |
| &nbsp;&nbsp;&nbsp; 8.25%, 01/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,467 | 1540115 |
| Harvest Midstream I LP |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,109 | 3129485 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,115 | 1160882 |
| Hess Midstream Operations LP |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD635 | 632070 |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,140 | 3141451 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD176 | 177730 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,502 | 2563487 |
| Howard Midstream Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 01/15/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD927 | 943031 |
| &nbsp;&nbsp;&nbsp; 7.38%, 07/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,093 | 2182492 |
| ITT Holdings LLC, 6.50%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,225 | 5150751 |
| Kinetik Holdings LP |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD21 | 21071 |
| &nbsp;&nbsp;&nbsp; 6.63%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,605 | 5717621 |
| NuStar Logistics LP, 5.63%, 04/28/27 | &nbsp;&nbsp;&nbsp; USD899 | 902211 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, 4.95%, <br> 07/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,701 | 2664041 |
| &nbsp;&nbsp;&nbsp; South Bow Canadian Infrastructure <br> Holdings Ltd.<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, 03/01/55, (5-year CMT + <br> 3.67%)<sup>(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,773 | 1874477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.63%, 03/01/55, (5-year CMT + <br> 3.95%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD664 | 693026 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass <br> Energy Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,563 | 1559236 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/31/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,665 | 2679135 |
| &nbsp;&nbsp;&nbsp; 6.75%, 03/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD917 | 936978 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,420 | 1462929 |
| Venture Global Calcasieu Pass LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 11/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD150 | 133677 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,695 | 1744492 |
| &nbsp;&nbsp;&nbsp; 3.88%, 08/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,482 | 6209456 |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,256 | 1176565 |
| Venture Global LNG, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,589 | 1634490 |
| &nbsp;&nbsp;&nbsp; 8.38%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,500 | 3649219 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp; 9.50%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,615 | $8310760 |
| &nbsp;&nbsp;&nbsp; 9.88%, 02/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD7,762 | 8327500 |
| Venture Global Plaquemines LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,225 | 6419705 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,300 | 1361751 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,207 | 6495210 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,768 | 1960647 |
| &nbsp;&nbsp;&nbsp; 7.75%, 05/01/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,702 | 3038977 |
| &nbsp;&nbsp;&nbsp; Williams Companies, Inc. (The), 4.90%, <br> 03/15/29<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,975 | 10083618 |
|  |  | 143512378 |
| **Real Estate — 1.2%** | **Real Estate — 1.2%** | **Real Estate — 1.2%** |
| &nbsp;&nbsp;&nbsp; Adler Financing SARL, Series 1L, 8.25%, <br> 12/31/28, (8.25% PIK)<sup>(g)</sup><br>| &nbsp;&nbsp;&nbsp; EUR19,633 | 26004503 |
| &nbsp;&nbsp;&nbsp; Alexandrite Lake Lux Holdings SARL, <br> 6.75%, 07/30/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR5,762 | 6643852 |
| &nbsp;&nbsp;&nbsp; Alpha Star Holding IX Ltd., 7.00%, <br> 08/26/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,028 | 2012790 |
| &nbsp;&nbsp;&nbsp; Alpha Star Holding X Ltd., 6.13%, <br> 08/05/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,957 | 4777309 |
| alstria SARL, 5.50%, 03/20/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR22,300 | 26000236 |
| Aroundtown Finance SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.00%, (5-year EURIBOR ICE Swap + <br> 2.35%)<sup>(b)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,895 | 5510178 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, (5-year EURIBOR ICE Swap + <br> 3.04%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR9,648 | 10622225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, (5-year EURIBOR ICE Swap + <br> 3.43%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR18,175 | 20192059 |
| &nbsp;&nbsp;&nbsp; Central Plaza Development Ltd., 6.80%, <br> 04/07/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD870 | 867825 |
| &nbsp;&nbsp;&nbsp; Citycon OYJ, 3.63%, (5-year EURIBOR ICE <br> Swap + 4.18%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,515 | 1284251 |
| Citycon Treasury BV |  |  |
| &nbsp;&nbsp;&nbsp; 1.63%, 03/12/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,140 | 2346420 |
| &nbsp;&nbsp;&nbsp; 2.38%, 01/15/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR297 | 344468 |
| &nbsp;&nbsp;&nbsp; 5.38%, 07/08/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,475 | 2722601 |
| Cushman & Wakefield U.S. Borrower LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,895 | 1895157 |
| &nbsp;&nbsp;&nbsp; 8.88%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD230 | 242106 |
| Elect Global Investments Ltd., 4.85%<sup>(c)(h)</sup> | &nbsp;&nbsp;&nbsp; USD1,067 | 823724 |
| &nbsp;&nbsp;&nbsp; Grand City Properties SA, 1.50%, (5-year <br> EURIBOR ICE Swap + 2.18%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR14,700 | 17186336 |
| Heimstaden Bostad AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.63%, (5-year EUR Swap + <br> 3.90%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR3,397 | 3934731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, (5-year EURIBOR ICE Swap + <br> 4.19%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,330 | 5166133 |
| Howard Hughes Corp.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,893 | 2785530 |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,618 | 1515008 |
| &nbsp;&nbsp;&nbsp; 5.88%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,829 | 1789481 |
| &nbsp;&nbsp;&nbsp; 6.13%, 03/01/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD18 | 17638 |
| &nbsp;&nbsp;&nbsp; Lendlease Asia Treasury Pte. Ltd., <br> 3.90%<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; SGD750 | 579677 |
| New Immo Holding SA |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 12/08/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR9,800 | 11497661 |
| &nbsp;&nbsp;&nbsp; 4.95%, 11/14/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,500 | 6380705 |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/23/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,400 | 5144588 |
| &nbsp;&nbsp;&nbsp; 5.88%, 04/17/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR6,600 | 7880059 |
| &nbsp;&nbsp;&nbsp; New World China Land Ltd., 4.75%, <br> 01/23/27<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,600 | 2453360 |
| &nbsp;&nbsp;&nbsp; Sobha Sukuk I Holding Ltd., 7.13%, <br> 09/11/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,411 | 1320696 |
| Vicinity Centres Trust, 5.84%, 03/03/36<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; AUD1,660 | 1148472 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate (continued)** | **Real Estate (continued)** | **Real Estate (continued)** |
| Vivion Investments SARL |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 06/08/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR8,861 | $9943507 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/28/29, (6.50% PIK)<sup>(c)(g)</sup> | &nbsp;&nbsp;&nbsp; EUR8,964 | 10549678 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.25%, 08/31/28, (6.50% Cash and <br> 1.40% PIK)<sup>(c)(g)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,014 | 1198948 |
| Vonovia SE, 1.00%, 07/09/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,400 | 4663035 |
|  |  | 207444947 |
| **Real Estate Investment Trusts — 0.8%** | **Real Estate Investment Trusts — 0.8%** | **Real Estate Investment Trusts — 0.8%** |
| &nbsp;&nbsp;&nbsp; Alexandrite Monnet U.K. Holdco PLC, <br> 6.88%, 05/31/31<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,832 | 3320689 |
| American Tower Corp., 3.65%, 03/15/27 | &nbsp;&nbsp;&nbsp; USD3,335 | 3316293 |
| Digital Dutch Finco BV, 1.25%, 02/01/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,500 | 4716831 |
| &nbsp;&nbsp;&nbsp; Equinix Asia Financing Corp. Pte Ltd., <br> 2.90%, 09/15/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; SGD3,500 | 2660473 |
| &nbsp;&nbsp;&nbsp; Equinix Europe 2 Financing Corp. LLC, <br> 3.25%, 03/15/31<br>| &nbsp;&nbsp;&nbsp; EUR6,500 | 7484118 |
| Iron Mountain, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/34<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR14,661 | 16652282 |
| &nbsp;&nbsp;&nbsp; 4.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,600 | 1596425 |
| &nbsp;&nbsp;&nbsp; 4.88%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,806 | 3753428 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,073 | 1069492 |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,835 | 1833329 |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,545 | 5487619 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD469 | 476263 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,706 | 3787332 |
| Keppel REIT, 3.78%<sup>(b)(c)(h)</sup> | &nbsp;&nbsp;&nbsp; SGD2,500 | 1980913 |
| &nbsp;&nbsp;&nbsp; Ladder Capital Finance <br> Holdings LLLP/Ladder Capital Finance <br> Corp., 4.75%, 06/15/29<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,507 | 1475550 |
| Millrose Properties, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD882 | 885864 |
| &nbsp;&nbsp;&nbsp; 6.38%, 08/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,851 | 3900154 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 0.99%, 10/15/26 | &nbsp;&nbsp;&nbsp; EUR7,927 | 9075694 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/15/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR11,947 | 14160533 |
| &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC/PK <br> Domestic Property LLC/PK Finance <br> Co-Issuer<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD244 | 237349 |
| &nbsp;&nbsp;&nbsp; 5.88%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,713 | 4701722 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,516 | 1547734 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP/RHP <br> Finance Corp.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,895 | 4812175 |
| &nbsp;&nbsp;&nbsp; 5.75%, 03/15/34<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,568 | 1558604 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD50 | 51501 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD319 | 326423 |
| RLJ Lodging Trust, 3.75%, 07/01/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,009 | 2004237 |
| &nbsp;&nbsp;&nbsp; SBA Communications Corp., 3.88%, <br> 02/15/27<br>| &nbsp;&nbsp;&nbsp; USD4,346 | 4319054 |
| Scentre Group Trust 1, 5.35%, 09/18/35<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; AUD14,000 | 9378085 |
| Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.95%, 01/15/28 | &nbsp;&nbsp;&nbsp; USD110 | 106654 |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/15/30 | &nbsp;&nbsp;&nbsp; USD5,314 | 4783433 |
| &nbsp;&nbsp;&nbsp; 4.95%, 10/01/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,234 | 1159652 |
| &nbsp;&nbsp;&nbsp; 8.88%, 06/15/32<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,334 | 2395123 |
| Starwood Property Trust, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 07/15/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,939 | 3922071 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD190 | 189257 |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 199044 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,555 | 4608234 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD206 | 211872 |
| Trust 2401 |  |  |
| &nbsp;&nbsp;&nbsp; 4.87%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,613 | 1569731 |
| &nbsp;&nbsp;&nbsp; 7.70%, 01/23/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,236 | 1344620 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| Trust Fibra Uno, 4.87%, 01/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,272 | $1231992 |
|  |  | 138291849 |
| **Retail — 1.2%** | **Retail — 1.2%** | **Retail — 1.2%** |
| Advance Auto Parts, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.90%, 04/15/30<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,144 | 2011047 |
| &nbsp;&nbsp;&nbsp; 7.00%, 08/01/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,841 | 2930707 |
| &nbsp;&nbsp;&nbsp; 7.38%, 08/01/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,130 | 1165968 |
| Arcos Dorados BV, 6.38%, 01/29/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD364 | 379339 |
| Asbury Automotive Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 03/01/28 | &nbsp;&nbsp;&nbsp; USD1,442 | 1427800 |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,145 | 2087534 |
| &nbsp;&nbsp;&nbsp; 4.75%, 03/01/30<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD149 | 145109 |
| &nbsp;&nbsp;&nbsp; 5.00%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD692 | 663579 |
| Bath & Body Works, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 10/01/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,627 | 3675740 |
| &nbsp;&nbsp;&nbsp; 7.50%, 06/15/29 | &nbsp;&nbsp;&nbsp; USD419 | 425219 |
| Boots Group Finco LP |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 08/31/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,116 | 1327898 |
| &nbsp;&nbsp;&nbsp; 7.38%, 08/31/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP8,088 | 11192066 |
| &nbsp;&nbsp;&nbsp; Burger King (Restaurant Brands <br> International, Inc.)/New Red Finance, Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,800 | 2747901 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD635 | 604113 |
| &nbsp;&nbsp;&nbsp; 4.38%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,497 | 4440304 |
| &nbsp;&nbsp;&nbsp; 5.63%, 09/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,752 | 1767721 |
| &nbsp;&nbsp;&nbsp; 6.13%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,527 | 4606853 |
| &nbsp;&nbsp;&nbsp; Carvana Co., 9.00%, 06/01/31, (9.00 % <br> Cash)<sup>(a)(f)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,338 | 5905145 |
| CD&R Firefly Bidco PLC, 8.63%, 04/30/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP17,916 | 25104645 |
| Dufry One BV, 4.50%, 05/23/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR7,177 | 8366652 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta <br> Entertainment Finance Co., Inc., 6.75%, <br> 01/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,318 | 7090698 |
| FirstCash, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 09/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,082 | 1063804 |
| &nbsp;&nbsp;&nbsp; 5.63%, 01/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD204 | 203018 |
| &nbsp;&nbsp;&nbsp; 6.88%, 03/01/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD2,298 | 2355176 |
| Gap, Inc.(The) |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,386 | 2251134 |
| &nbsp;&nbsp;&nbsp; 3.88%, 10/01/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD575 | 526079 |
| Goldstory SAS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.02%, 02/01/30, (3-mo. EURIBOR + <br> 4.00%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,511 | 5263423 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/01/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR10,555 | 12333684 |
| Group 1 Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,875 | 1825528 |
| &nbsp;&nbsp;&nbsp; 6.38%, 01/15/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,001 | 1017264 |
| &nbsp;&nbsp;&nbsp; KFC Holding Co./Pizza Hut <br> Holdings LLC/Taco Bell of America LLC, <br> 4.75%, 06/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,403 | 2398656 |
| &nbsp;&nbsp;&nbsp; Kiko SpA, 5.45%, 01/15/32, (3-mo. <br> EURIBOR + 3.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR7,570 | 8868124 |
| Kohl's Corp., 5.13%, 05/01/31 | &nbsp;&nbsp;&nbsp; USD4,350 | 3557667 |
| LCM Investments Holdings II LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD380 | 372039 |
| &nbsp;&nbsp;&nbsp; 8.25%, 08/01/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,461 | 5720807 |
| Lithia Motors, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD813 | 809159 |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,307 | 3289473 |
| Lowe's Companies, Inc., 3.10%, 05/03/27<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD16,820 | 16662660 |
| McDonald's Corp., 1.60%, 03/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,400 | 4743066 |
| &nbsp;&nbsp;&nbsp; Michaels Companies, Inc. (The), 8.50%, <br> 03/15/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,194 | 7104434 |
| Murphy Oil USA, Inc., 4.75%, 09/15/29 | &nbsp;&nbsp;&nbsp; USD956 | 946102 |
| Nordstrom, Inc., 4.38%, 04/01/30<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,872 | 1778895 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail (continued)** | **Retail (continued)** | **Retail (continued)** |
| &nbsp;&nbsp;&nbsp; Park River Holdings, Inc., 8.00%, <br> 03/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD25 | $25137 |
| PetSmart LLC/PetSmart Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD250 | 253150 |
| &nbsp;&nbsp;&nbsp; 10.00%, 09/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8,074 | 8155354 |
| &nbsp;&nbsp;&nbsp; QXO Building Products, Inc., 6.75%, <br> 04/30/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,335 | 4421875 |
| Sonic Automotive, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/15/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD482 | 471527 |
| &nbsp;&nbsp;&nbsp; 4.88%, 11/15/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,125 | 1081655 |
| Stonegate Pub Co. Financing PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.62%, 07/31/29, (3-mo. EURIBOR + <br> 6.63%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,595 | 5392548 |
| &nbsp;&nbsp;&nbsp; 10.75%, 07/31/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP1,674 | 2292595 |
| &nbsp;&nbsp;&nbsp; Suburban Propane Partners LP/Suburban <br> Energy Finance Corp., 5.00%, <br> 06/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,376 | 1321039 |
| Yum! Brands, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 01/31/32 | &nbsp;&nbsp;&nbsp; USD150 | 144309 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,873 | 3835321 |
|  |  | 198550740 |
| **Savings & Loans — 0.0%** | **Savings & Loans — 0.0%** | **Savings & Loans — 0.0%** |
| Nationwide Building Society |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.50%, (5-year UK Government Bond + <br> 3.85%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; GBP5,225 | 7232357 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series ., 7.88%, (5-year UK Government <br> Bond + 3.59%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; GBP850 | 1193074 |
|  |  | 8425431 |
| **Semiconductors — 0.3%** | **Semiconductors — 0.3%** | **Semiconductors — 0.3%** |
| ams-OSRAM AG, 10.50%, 03/30/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,872 | 3550226 |
| Broadcom, Inc., 4.75%, 04/15/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD16,635 | 16816990 |
| Entegris, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 190755 |
| &nbsp;&nbsp;&nbsp; 4.38%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD156 | 153778 |
| &nbsp;&nbsp;&nbsp; 4.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,050 | 4018649 |
| &nbsp;&nbsp;&nbsp; Foundry JV Holdco LLC, 5.90%, <br> 01/25/30<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,000 | 5187351 |
| Kioxia Holdings Corp., 6.25%, 07/24/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,162 | 4286591 |
| MKS, Inc., 4.25%, 02/15/34<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR16,110 | 18247129 |
| SK Hynix, Inc., 6.38%, 01/17/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,204 | 1243274 |
|  |  | 53694743 |
| **Software — 0.7%** | **Software — 0.7%** | **Software — 0.7%** |
| Cloud Software Group, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/31/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,319 | 2257908 |
| &nbsp;&nbsp;&nbsp; 6.63%, 08/15/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,023 | 3603252 |
| &nbsp;&nbsp;&nbsp; 8.25%, 06/30/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD9,667 | 9184015 |
| &nbsp;&nbsp;&nbsp; 9.00%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11,267 | 11062900 |
| &nbsp;&nbsp;&nbsp; Continuum Energy Pte. Ltd., 12.85%, <br> 09/11/27<sup>(f)(i)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,854 | 1854068 |
| CoreWeave, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 9.00%, 02/01/31<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD7,183 | 7137457 |
| &nbsp;&nbsp;&nbsp; 9.25%, 06/01/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,552 | 3596785 |
| &nbsp;&nbsp;&nbsp; 9.75%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,327 | 7369427 |
| Fair Isaac Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,516 | 1478002 |
| &nbsp;&nbsp;&nbsp; 6.00%, 05/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,558 | 2522761 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,946 | 1915540 |
| IPD 3 BV, 5.50%, 06/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR10,452 | 11732329 |
| &nbsp;&nbsp;&nbsp; OAK-Eagle Acquireco, Inc., 7.25%, <br> 07/01/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,147 | 4273135 |
| Open Text Corp., 3.88%, 12/01/29<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD5,623 | 5067944 |
| &nbsp;&nbsp;&nbsp; Open Text Holdings, Inc., 4.13%, <br> 12/01/31<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,647 | 3114079 |
| Oracle Corp., 3.25%, 11/15/27 | &nbsp;&nbsp;&nbsp; USD8,520 | 8337432 |
| ROBLOX Corp., 3.88%, 05/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,875 | 1775981 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| Rocket Software, Inc., 9.00%, 11/28/28<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD4,613 | $4590171 |
| Salesforce, Inc., 4.50%, 03/15/28<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD8,395 | 8402883 |
| SS&C Technologies, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,399 | 5394265 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD423 | 428005 |
| TeamSystem SpA |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/01/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR5,200 | 5741214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 07/01/32, (3-mo. EURIBOR + <br> 3.25%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,252 | 4775475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.70%, 07/31/31, (3-mo. EURIBOR + <br> 3.50%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,842 | 2103514 |
| Twilio, Inc., 3.63%, 03/15/29<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD1,150 | 1105943 |
| UKG, Inc., 6.88%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,814 | 5658844 |
|  |  | 124483329 |
| **Telecommunications — 2.4%** | **Telecommunications — 2.4%** | **Telecommunications — 2.4%** |
| Altice France SA |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 10/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR748 | 858097 |
| &nbsp;&nbsp;&nbsp; 5.38%, 04/15/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR673 | 774285 |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,496 | 1725317 |
| &nbsp;&nbsp;&nbsp; 5.63%, 07/15/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR736 | 849371 |
| &nbsp;&nbsp;&nbsp; APLD ComputeCo 2 LLC, 6.75%, <br> 03/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,880 | 5821525 |
| APLD ComputeCo LLC, 9.25%, 12/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6,079 | 6534225 |
| AT&T, Inc., 1.65%, 02/01/28 | &nbsp;&nbsp;&nbsp; USD10,575 | 10095964 |
| &nbsp;&nbsp;&nbsp; Bell Telephone Co. of Canada or <br> Bell Canada<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.88%, 09/15/55, (5-year CMT + <br> 2.39%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,268 | 2326855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 09/15/55, (5-year CMT + <br> 2.36%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,270 | 2355695 |
| &nbsp;&nbsp;&nbsp; Black Pearl Compute LLC, 6.13%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,431 | 3481051 |
| British Telecommunications PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.25%, 11/23/81, (5-year CMT + <br> 2.99%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,339 | 2318759 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, 11/23/81, (5-year CMT + <br> 3.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,442 | 1388542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.38%, 12/20/83, (5-year UK Government <br> Bond + 3.82%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP8,196 | 11724255 |
| &nbsp;&nbsp;&nbsp; Cas Capital No. 2 Ltd., 6.25%, (5-year CMT <br> + 2.53%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; USD667 | 669501 |
| Cipher Compute LLC, 7.13%, 11/15/30<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD3,656 | 3789478 |
| &nbsp;&nbsp;&nbsp; Connect Finco SARL/Connect U.S. Finco <br> LLC, 9.00%, 09/15/29<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,942 | 7321637 |
| &nbsp;&nbsp;&nbsp; Core Scientific Finance I LLC, 7.75%, <br> 05/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,360 | 4349118 |
| Fibercop SpA |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 06/30/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR702 | 830302 |
| &nbsp;&nbsp;&nbsp; 5.38%, 04/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR8,600 | 10226634 |
| &nbsp;&nbsp;&nbsp; Series 2034, 6.00%, 09/30/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,282 | 1229380 |
| &nbsp;&nbsp;&nbsp; Series 2036, 7.20%, 07/18/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,851 | 3841372 |
| &nbsp;&nbsp;&nbsp; Series 2038, 7.72%, 06/04/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,228 | 2233900 |
| Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/29 | &nbsp;&nbsp;&nbsp; USD200 | 201006 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | 25138 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,052 | 1052000 |
| Iliad Holding SAS |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 04/15/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,637 | 3156029 |
| &nbsp;&nbsp;&nbsp; 5.63%, 10/15/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR100 | 118298 |
| &nbsp;&nbsp;&nbsp; 6.88%, 04/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR14,195 | 17502459 |
| &nbsp;&nbsp;&nbsp; 7.00%, 10/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,554 | 5591984 |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,149 | 3197035 |
| &nbsp;&nbsp;&nbsp; 8.50%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD816 | 865700 |
| &nbsp;&nbsp;&nbsp; Kaixo Bondco Telecom SA, 5.13%, <br> 09/30/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR9,563 | 11275845 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| Level 3 Financing, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/30/33<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD6,417 | $6622455 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/31/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | 207445 |
| &nbsp;&nbsp;&nbsp; 8.50%, 01/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7,168 | 7677007 |
| &nbsp;&nbsp;&nbsp; Liquid Telecommunications Financing PLC, <br> 10.75%, 04/14/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD321 | 326184 |
| &nbsp;&nbsp;&nbsp; Meridian Arc Holdco LLC, 6.25%, <br> 04/30/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,980 | 3979094 |
| &nbsp;&nbsp;&nbsp; NEXTDC Ltd., 7.87%, 04/30/30, (Update <br> Replacements.xls: BBSW3M + <br> 3.500%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; AUD1,960 | 1407560 |
| &nbsp;&nbsp;&nbsp; Odido Group Holding BV, 5.50%, <br> 01/15/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR9,275 | 10830176 |
| Optics Bidco SpA, 5.25%, 03/17/55 | &nbsp;&nbsp;&nbsp; EUR3,200 | 3184423 |
| &nbsp;&nbsp;&nbsp; RD Michigan Property Owner I LLC, 7.50%, <br> 03/30/45<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,018 | 10015987 |
| Rogers Communications, Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.20%, 03/15/27<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD8,010 | 7928640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25%, 03/15/82, (5-year CMT + <br> 3.59%)<sup>(a)(b)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,619 | 1609831 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 04/15/55, (5-year CMT + <br> 2.65%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,252 | 1277904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.13%, 04/15/55, (5-year CMT + <br> 2.62%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,428 | 2504750 |
| SoftBank Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 07/06/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,322 | 2557893 |
| &nbsp;&nbsp;&nbsp; 5.00%, 04/15/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR100 | 117674 |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/10/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR10,861 | 12594594 |
| &nbsp;&nbsp;&nbsp; 5.38%, 01/08/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,358 | 2780780 |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/08/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR7,050 | 7954015 |
| &nbsp;&nbsp;&nbsp; 6.38%, 04/22/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR6,139 | 7265681 |
| &nbsp;&nbsp;&nbsp; 7.00%, 04/22/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,439 | 4083022 |
| &nbsp;&nbsp;&nbsp; 7.25%, 07/10/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,000 | 1941437 |
| &nbsp;&nbsp;&nbsp; 7.38%, 04/22/34<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,659 | 4333653 |
| &nbsp;&nbsp;&nbsp; Series ., 6.38%, 07/10/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR11,500 | 13162545 |
| Sprint Capital Corp., 6.88%, 11/15/28 | &nbsp;&nbsp;&nbsp; USD9,295 | 9814157 |
| &nbsp;&nbsp;&nbsp; SV RNO Property Owner 1 LLC, 5.88%, <br> 03/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD8,470 | 8310329 |
| TDC Brands A/S, 8.00%, 04/30/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR4,785 | 5624000 |
| Telecom Argentina SA, 9.25%, 05/28/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD622 | 659356 |
| Telecom Italia Capital SA, 7.72%, 06/04/38 | &nbsp;&nbsp;&nbsp; USD1,162 | 1315691 |
| Telefonica Emisiones SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.38%, (5-year EURIBOR ICE Swap + <br> 1.84%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR6,800 | 7816379 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.88%, (8-year EURIBOR ICE Swap + <br> 2.13%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR5,200 | 5919487 |
| Telefonica Europe BV |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.50%, (7-year EUR Swap + <br> 2.66%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,500 | 2905527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series ., 5.75%, (8-year EURIBOR ICE <br> Swap + 3.12%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR6,400 | 7793357 |
| TELUS Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.63%, 10/15/55, (5-year CMT + <br> 2.77%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,900 | 2932396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series ., 6.38%, 06/09/56, (5-year CMT + <br> 2.69%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD766 | 766087 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series ..., 6.63%, 06/09/56, (5-year CMT <br> + 2.52%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,520 | 2506130 |
| T-Mobile USA, Inc., 3.88%, 04/15/30 | &nbsp;&nbsp;&nbsp; USD10,190 | 9921803 |
| Turk Telekomunikasyon A/S |  |  |
| &nbsp;&nbsp;&nbsp; 6.95%, 10/07/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD870 | 869191 |
| &nbsp;&nbsp;&nbsp; 7.38%, 05/20/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,479 | 1519672 |
| &nbsp;&nbsp;&nbsp; Turkcell Iletisim Hizmetleri A/S, 7.65%, <br> 01/24/32<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD620 | 646142 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| &nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance 2019, <br> Inc./CSL Capital LLC, 4.75%, <br> 04/15/28<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,949 | $4930015 |
| Veon Midco BV, 3.38%, 11/25/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD687 | 668211 |
| &nbsp;&nbsp;&nbsp; VF Ukraine PAT via VFU Funding PLC, <br> 9.63%, 02/11/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD961 | 953830 |
| Viasat, Inc., 5.63%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,801 | 4789453 |
| Vmed O2 U.K. Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP2,854 | 3340882 |
| &nbsp;&nbsp;&nbsp; 4.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,461 | 4724294 |
| &nbsp;&nbsp;&nbsp; 5.63%, 04/15/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR14,547 | 16200145 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,691 | 5202073 |
| Vodafone Group PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13%, 06/04/81, (5-year CMT + <br> 2.77%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,660 | 3409439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.00%, 04/04/79, (5-year USD Swap + <br> 4.87%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,307 | 3448798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.00%, 08/30/86, (5-year UK Government <br> Bond + 3.84%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; GBP2,388 | 3440670 |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC, 7.50%, <br> 10/15/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,272 | 3444945 |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC/Windstream <br> Escrow Finance Corp., 8.25%, <br> 10/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD7,482 | 7913696 |
| WULF Compute LLC, 7.75%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,996 | 5250772 |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings, Inc., 9.25%, 03/09/30, <br> (5.75% Cash and 0.50% PIK)<sup>(a)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,360 | 5362302 |
| Zegona Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR11,700 | 14267994 |
| &nbsp;&nbsp;&nbsp; 8.63%, 07/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,821 | 2950976 |
|  |  | 401711706 |
| **Transportation — 0.4%** | **Transportation — 0.4%** | **Transportation — 0.4%** |
| Avianca Midco 2 PLC, 9.00%, 12/01/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD445 | 433735 |
| Edge Finco PLC, 8.13%, 08/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP20,254 | 28296481 |
| Mobico Group PLC, 4.88%, 09/26/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,151 | 2813052 |
| Ocado Group PLC, 10.50%, 08/08/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP2,600 | 3572729 |
| &nbsp;&nbsp;&nbsp; Pacific National Finance Pty. Ltd., 7.75%, <br> 12/11/54<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD6,030 | 4337913 |
| &nbsp;&nbsp;&nbsp; Patrick Terminals Finance Pty Ltd., 5.55%, <br> 10/22/35<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD6,830 | 4598621 |
| SGL Group ApS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.27%, 02/24/31, (3-mo. EURIBOR + <br> 4.25%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,945 | 3300872 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.94%, 04/22/30, (3-mo. EURIBOR + <br> 4.75%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR11,804 | 13224735 |
| Transnet, 8.25%, 02/06/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,150 | 3277165 |
| XPO, Inc., 7.13%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD423 | 441114 |
|  |  | 64296417 |
| **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** | **Trucking & Leasing — 0.1%** |
| FTAI Aviation Investors LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,228 | 1227494 |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,763 | 1824567 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/32<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD110 | 113546 |
| &nbsp;&nbsp;&nbsp; 7.88%, 12/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5,805 | 6095111 |
|  |  | 9260718 |
| **Water — 0.1%** | **Water — 0.1%** | **Water — 0.1%** |
| Severn Trent Utilities Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/29/40<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,450 | 3974357 |
| &nbsp;&nbsp;&nbsp; Series APR, 3.88%, 08/04/35<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR2,080 | 2401839 |
| &nbsp;&nbsp;&nbsp; Veolia Environnement SA, 2.00%, (5-year <br> EUR Swap + 2.08%)<sup>(b)(c)(h)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,500 | 5137417 |
|  |  | 11513613 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **WL Collateral CMO — 0.1%** | **WL Collateral CMO — 0.1%** | **WL Collateral CMO — 0.1%** |
| Turquoise V Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 06/12/67, (1-month BB Swap + <br> 1.05%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD5,900 | $4241332 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 06/12/67, (1-month BB Swap + <br> 1.45%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD2,890 | 2073777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 06/12/67, (1-month BB Swap + <br> 1.60%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD2,470 | 1772413 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.93%, 06/12/67, (1-month BB Swap + <br> 1.85%)<sup>(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; AUD950 | 680590 |
|  |  | 8768112 |
| **Total Corporate Bonds & Notes — 39.1%** <br>**(Cost: $6,587,786,065)** | **Total Corporate Bonds & Notes — 39.1%** <br>**(Cost: $6,587,786,065)** | 6607148021 |
| **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** | **Fixed Rate Loan Interests** |
| **Chemicals — 0.0%** | **Chemicals — 0.0%** | **Chemicals — 0.0%** |
| &nbsp;&nbsp;&nbsp; AM Green BV, Term Loan, 8.00%, <br> 04/11/27<sup>(i)</sup><br>| &nbsp;&nbsp;&nbsp; $4700 | 5217000 |
| **Total Fixed Rate Loan Interests — 0.0%** <br>**(Cost: $5,099,911)** | **Total Fixed Rate Loan Interests — 0.0%** <br>**(Cost: $5,099,911)** | 5217000 |
| **Foreign Government Obligations**<sup>(m)</sup> | **Foreign Government Obligations**<sup>(m)</sup> | **Foreign Government Obligations**<sup>(m)</sup> |
| **Angola — 0.1%** | **Angola — 0.1%** | **Angola — 0.1%** |
| Angolan Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 11/26/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,579 | 1607540 |
| &nbsp;&nbsp;&nbsp; 8.25%, 05/09/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD5,146 | 5275525 |
| &nbsp;&nbsp;&nbsp; 9.24%, 01/15/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,553 | 2723413 |
| &nbsp;&nbsp;&nbsp; 9.88%, 03/31/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD536 | 569500 |
|  |  | 10175978 |
| **Argentina — 0.0%** | **Argentina — 0.0%** | **Argentina — 0.0%** |
| &nbsp;&nbsp;&nbsp; Argentina Treasury Bond BONCER, 0.00%, <br> 12/15/27<sup>(n)</sup><br>| &nbsp;&nbsp;&nbsp; ARS1,679,064 | 2835463 |
| &nbsp;&nbsp;&nbsp; Argentine Republic Government <br> International Bonds<br>|  |  |
| &nbsp;&nbsp;&nbsp; 1.75%, 07/09/30<sup>(d)(f)</sup> | &nbsp;&nbsp;&nbsp; USD762 | 657689 |
| &nbsp;&nbsp;&nbsp; 4.75%, 07/09/35<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; USD519 | 387174 |
|  |  | 3880326 |
| **Armenia — 0.0%** | **Armenia — 0.0%** | **Armenia — 0.0%** |
| &nbsp;&nbsp;&nbsp; Republic of Armenia International Bonds, <br> 6.75%, 03/12/35<sup>(a)(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD547 | 572572 |
| **Bahrain — 0.0%** | **Bahrain — 0.0%** | **Bahrain — 0.0%** |
| &nbsp;&nbsp;&nbsp; Bahrain Government International Bonds, <br> 5.45%, 09/16/32<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD608 | 564938 |
| **Barbados — 0.0%** | **Barbados — 0.0%** | **Barbados — 0.0%** |
| &nbsp;&nbsp;&nbsp; Barbados Government International Bonds, <br> 8.00%, 06/26/35<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,291 | 1381770 |
| **Benin — 0.0%** | **Benin — 0.0%** | **Benin — 0.0%** |
| &nbsp;&nbsp;&nbsp; Benin Government International Bonds, <br> 7.96%, 02/13/38<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,380 | 1418812 |
| Benin Sukuk SA, 6.20%, 01/29/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,007 | 2857943 |
|  |  | 4276755 |
| **Bolivia — 0.0%** | **Bolivia — 0.0%** | **Bolivia — 0.0%** |
| &nbsp;&nbsp;&nbsp; Bolivian Government International Bonds, <br> 4.50%, 03/20/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,878 | 2780287 |
| **Brazil — 1.1%** | **Brazil — 1.1%** | **Brazil — 1.1%** |
| Brazil Letras do Tesouro Nacional |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 07/01/26<sup>(n)</sup> | &nbsp;&nbsp;&nbsp; BRL104,348 | 20615463 |
| &nbsp;&nbsp;&nbsp; 0.00%, 10/01/26<sup>(n)</sup> | &nbsp;&nbsp;&nbsp; BRL400,787 | 76571053 |
| Brazil Notas do Tesouro Nacional |  |  |
| &nbsp;&nbsp;&nbsp; Series F, 10.00%, 01/01/27 | &nbsp;&nbsp;&nbsp; BRL401,586 | 79174414 |
| &nbsp;&nbsp;&nbsp; Series F, 10.00%, 01/01/29 | &nbsp;&nbsp;&nbsp; BRL5,468 | 1020688 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Brazil (continued)** | **Brazil (continued)** | **Brazil (continued)** |
| &nbsp;&nbsp;&nbsp; Brazilian Government International Bonds, <br> 5.50%, 04/23/36<br>| &nbsp;&nbsp;&nbsp; EUR321 | $375611 |
|  |  | 177757229 |
| **Bulgaria — 0.0%** | **Bulgaria — 0.0%** | **Bulgaria — 0.0%** |
| &nbsp;&nbsp;&nbsp; Bulgaria Government International Bonds, <br> 5.00%, 03/05/37<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD776 | 754994 |
| **Cameroon, United Republic of — 0.0%** | **Cameroon, United Republic of — 0.0%** | **Cameroon, United Republic of — 0.0%** |
| &nbsp;&nbsp;&nbsp; Republic of Cameroon International Bonds, <br> 8.88%, 01/30/33<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,418 | 2357550 |
| **Chile — 0.2%** | **Chile — 0.2%** | **Chile — 0.2%** |
| &nbsp;&nbsp;&nbsp; Bonos de la Tesoreria de la Republica en <br> pesos, 5.00%, 10/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; CLP21,400,000 | 23817983 |
| Chile Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 2.75%, 01/31/27 | &nbsp;&nbsp;&nbsp; USD3,464 | 3429360 |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/14/32 | &nbsp;&nbsp;&nbsp; EUR596 | 699408 |
|  |  | 27946751 |
| **Colombia — 0.5%** | **Colombia — 0.5%** | **Colombia — 0.5%** |
| Colombia Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 01/21/29 | &nbsp;&nbsp;&nbsp; USD2,376 | 2362100 |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/02/34 | &nbsp;&nbsp;&nbsp; USD2,765 | 2890255 |
| &nbsp;&nbsp;&nbsp; 8.00%, 04/20/33 | &nbsp;&nbsp;&nbsp; USD1,901 | 2047377 |
| Colombian TES |  |  |
| &nbsp;&nbsp;&nbsp; 12.50%, 02/27/30 | &nbsp;&nbsp;&nbsp; COP23,995,500 | 6226976 |
| &nbsp;&nbsp;&nbsp; Series B, 5.75%, 11/03/27 | &nbsp;&nbsp;&nbsp; COP128,333,200 | 31528752 |
| &nbsp;&nbsp;&nbsp; Series B, 7.00%, 06/30/32 | &nbsp;&nbsp;&nbsp; COP12,092,700 | 2395814 |
| &nbsp;&nbsp;&nbsp; Series B, 7.25%, 10/26/50 | &nbsp;&nbsp;&nbsp; COP18,868,100 | 3048411 |
| &nbsp;&nbsp;&nbsp; Series B, 7.75%, 09/18/30 | &nbsp;&nbsp;&nbsp; COP129,716,800 | 28393743 |
|  |  | 78893428 |
| **Congo — 0.0%** | **Congo — 0.0%** | **Congo — 0.0%** |
| &nbsp;&nbsp;&nbsp; Congolese International Bond, 9.50%, <br> 02/17/35<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,265 | 1220894 |
| **Czech Republic — 0.1%** | **Czech Republic — 0.1%** | **Czech Republic — 0.1%** |
| Czech Republic Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/04/44 | &nbsp;&nbsp;&nbsp; CZK136,190 | 5631581 |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/11/32 | &nbsp;&nbsp;&nbsp; CZK239,560 | 11440095 |
|  |  | 17071676 |
| **Dominican Republic — 0.1%** | **Dominican Republic — 0.1%** | **Dominican Republic — 0.1%** |
| Dominican Republic International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/30/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,100 | 3952400 |
| &nbsp;&nbsp;&nbsp; 5.95%, 01/25/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,837 | 4875696 |
| &nbsp;&nbsp;&nbsp; 10.75%, 06/01/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; DOP389,700 | 7005607 |
| &nbsp;&nbsp;&nbsp; 10.75%, 06/01/36<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; DOP84,400 | 1517252 |
|  |  | 17350955 |
| **Ecuador — 0.0%** | **Ecuador — 0.0%** | **Ecuador — 0.0%** |
| Ecuador Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 6.90%, 07/31/35<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,627 | 1508288 |
| &nbsp;&nbsp;&nbsp; 8.75%, 01/29/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,748 | 4845129 |
|  |  | 6353417 |
| **Egypt — 0.3%** | **Egypt — 0.3%** | **Egypt — 0.3%** |
| Egypt Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 04/16/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR16,181 | 18407807 |
| &nbsp;&nbsp;&nbsp; 6.59%, 02/21/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,642 | 1647739 |
| &nbsp;&nbsp;&nbsp; 7.50%, 01/31/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,689 | 3725927 |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/16/61<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD779 | 622557 |
| &nbsp;&nbsp;&nbsp; 7.90%, 02/21/48<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD16,845 | 14496554 |
| &nbsp;&nbsp;&nbsp; 8.50%, 01/31/47<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,454 | 2234612 |
| &nbsp;&nbsp;&nbsp; 8.50%, 01/31/47<sup>(a)(f)</sup> | &nbsp;&nbsp;&nbsp; USD685 | 623761 |
| &nbsp;&nbsp;&nbsp; 8.63%, 02/04/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,284 | 3465129 |
| &nbsp;&nbsp;&nbsp; 9.45%, 02/04/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD627 | 675035 |
|  |  | 45899121 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **El Salvador — 0.0%** | **El Salvador — 0.0%** | **El Salvador — 0.0%** |
| El Salvador Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 8.63%, 02/28/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,649 | $4937238 |
| &nbsp;&nbsp;&nbsp; 9.25%, 04/17/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD764 | 818626 |
|  |  | 5755864 |
| **Ethiopia — 0.0%** | **Ethiopia — 0.0%** | **Ethiopia — 0.0%** |
| &nbsp;&nbsp;&nbsp; Ethiopia International Bonds, 6.63%, <br> 12/11/24<sup>(c)(j)(k)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,252 | 3333300 |
| **France — 0.5%** | **France — 0.5%** | **France — 0.5%** |
| &nbsp;&nbsp;&nbsp; French Republic Government Bonds OAT, <br> 2.75%, 02/25/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; EUR67,542 | 79004615 |
| **Gabon — 0.1%** | **Gabon — 0.1%** | **Gabon — 0.1%** |
| &nbsp;&nbsp;&nbsp; Gabon Government International Bonds, <br> 9.50%, 02/18/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD10,597 | 9961180 |
| **Ghana — 0.1%** | **Ghana — 0.1%** | **Ghana — 0.1%** |
| Ghana Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 07/03/26<sup>(c)(n)</sup> | &nbsp;&nbsp;&nbsp; USD30 | 29682 |
| &nbsp;&nbsp;&nbsp; 0.00%, 01/03/30<sup>(c)(n)</sup> | &nbsp;&nbsp;&nbsp; USD1,130 | 989002 |
| &nbsp;&nbsp;&nbsp; 6.00%, 07/03/29<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD17,384 | 16905681 |
| &nbsp;&nbsp;&nbsp; 6.00%, 07/03/35<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,101 | 1923073 |
|  |  | 19847438 |
| **Hungary — 0.3%** | **Hungary — 0.3%** | **Hungary — 0.3%** |
| Hungary Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 10/27/38 | &nbsp;&nbsp;&nbsp; HUF1,071,420 | 2548213 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/23/37 | &nbsp;&nbsp;&nbsp; HUF1,362,010 | 4459250 |
| &nbsp;&nbsp;&nbsp; 7.00%, 10/24/35 | &nbsp;&nbsp;&nbsp; HUF5,234,460 | 18055263 |
| Hungary Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 02/22/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR10,072 | 12014155 |
| &nbsp;&nbsp;&nbsp; 5.25%, 06/16/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD856 | 869375 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/16/34<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,731 | 1754282 |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/26/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD468 | 468351 |
| &nbsp;&nbsp;&nbsp; 6.75%, 09/23/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD662 | 708757 |
| &nbsp;&nbsp;&nbsp; Magyar Export-Import Bank Zrt, 6.00%, <br> 05/16/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR6,458 | 8029781 |
| &nbsp;&nbsp;&nbsp; MFB Magyar Fejlesztesi Bank Zrt, 6.50%, <br> 06/29/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD6,561 | 6778333 |
|  |  | 55685760 |
| **Indonesia — 0.4%** | **Indonesia — 0.4%** | **Indonesia — 0.4%** |
| &nbsp;&nbsp;&nbsp; Indonesia Government International Bonds, <br> 3.88%, 01/15/33<br>| &nbsp;&nbsp;&nbsp; EUR589 | 681346 |
| Indonesia Treasury Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/15/30 | &nbsp;&nbsp;&nbsp; IDR771,015,000 | 44273396 |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/15/27 | &nbsp;&nbsp;&nbsp; IDR356,905,000 | 20700902 |
|  |  | 65655644 |
| **Italy — 2.0%** | **Italy — 2.0%** | **Italy — 2.0%** |
| Italy Buoni Poliennali Del Tesoro |  |  |
| &nbsp;&nbsp;&nbsp; 2.40%, 03/15/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR67,542 | 78103387 |
| &nbsp;&nbsp;&nbsp; 2.85%, 02/01/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR89,587 | 103502671 |
| &nbsp;&nbsp;&nbsp; 3.45%, 02/01/36<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR90,372 | 102876753 |
| &nbsp;&nbsp;&nbsp; 3.65%, 08/01/35<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; EUR50,682 | 58935671 |
|  |  | 343418482 |
| **Ivory Coast — 0.1%** | **Ivory Coast — 0.1%** | **Ivory Coast — 0.1%** |
| Ivory Coast Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 10/17/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,314 | 1546525 |
| &nbsp;&nbsp;&nbsp; 6.38%, 03/03/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,596 | 3633293 |
| &nbsp;&nbsp;&nbsp; 6.75%, 02/25/41<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,793 | 1652321 |
| &nbsp;&nbsp;&nbsp; 7.63%, 01/30/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD728 | 764618 |
| &nbsp;&nbsp;&nbsp; 8.08%, 04/01/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD797 | 844963 |
|  |  | 8441720 |
| **Jordan — 0.1%** | **Jordan — 0.1%** | **Jordan — 0.1%** |
| Jordan Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 5.85%, 07/07/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD677 | 674786 |
| &nbsp;&nbsp;&nbsp; 7.50%, 01/13/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD542 | 562336 |
| &nbsp;&nbsp;&nbsp; 7.50%, 01/13/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD6,854 | 7111162 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Jordan (continued)** | **Jordan (continued)** | **Jordan (continued)** |
| &nbsp;&nbsp;&nbsp; 7.75%, 01/15/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,023 | $2082173 |
|  |  | 10430457 |
| **Kazakhstan — 0.0%** | **Kazakhstan — 0.0%** | **Kazakhstan — 0.0%** |
| &nbsp;&nbsp;&nbsp; Baiterek National Managing Holding JSC, <br> 5.45%, 05/08/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,331 | 1345907 |
| Development Bank of Kazakhstan JSC |  |  |
| &nbsp;&nbsp;&nbsp; 13.49%, 05/23/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; KZT337,500 | 683524 |
| &nbsp;&nbsp;&nbsp; 13.49%, 05/23/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; KZT115,500 | 233917 |
| &nbsp;&nbsp;&nbsp; 17.30%, 07/03/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; KZT328,500 | 710116 |
|  |  | 2973464 |
| **Kenya — 0.1%** | **Kenya — 0.1%** | **Kenya — 0.1%** |
| &nbsp;&nbsp;&nbsp; Republic of Kenya Government <br> International Bonds<br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 10/09/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD6,806 | 6479312 |
| &nbsp;&nbsp;&nbsp; 7.88%, 02/26/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,959 | 2756308 |
| &nbsp;&nbsp;&nbsp; 9.75%, 02/16/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD599 | 632394 |
| &nbsp;&nbsp;&nbsp; 9.75%, 02/16/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,393 | 3582160 |
|  |  | 13450174 |
| **Kyrgyzstan — 0.0%** | **Kyrgyzstan — 0.0%** | **Kyrgyzstan — 0.0%** |
| Kyrgyz Republic International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 7.75%, 06/03/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,137 | 2181877 |
| &nbsp;&nbsp;&nbsp; 7.75%, 06/03/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,028 | 4112588 |
|  |  | 6294465 |
| **Latvia — 0.0%** | **Latvia — 0.0%** | **Latvia — 0.0%** |
| &nbsp;&nbsp;&nbsp; Latvia Government International Bonds, <br> 5.13%, 07/30/34<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,295 | 1299442 |
| **Lebanon — 0.1%** | **Lebanon — 0.1%** | **Lebanon — 0.1%** |
| Lebanon Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/27/23<sup>(c)(j)(k)</sup> | &nbsp;&nbsp;&nbsp; USD1,555 | 394193 |
| &nbsp;&nbsp;&nbsp; 6.10%, 10/04/22<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,178 | 552123 |
| &nbsp;&nbsp;&nbsp; 6.20%, 02/26/25<sup>(c)(j)(k)</sup> | &nbsp;&nbsp;&nbsp; USD8,993 | 2279725 |
| &nbsp;&nbsp;&nbsp; 6.60%, 11/27/26<sup>(c)(j)(k)</sup> | &nbsp;&nbsp;&nbsp; USD17,986 | 4559451 |
| &nbsp;&nbsp;&nbsp; 6.65%, 04/22/24<sup>(c)(j)(k)</sup> | &nbsp;&nbsp;&nbsp; USD1,103 | 279611 |
| &nbsp;&nbsp;&nbsp; 6.65%, 04/22/24<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD247 | 62615 |
| &nbsp;&nbsp;&nbsp; 6.85%, 03/23/27<sup>(c)(j)</sup> | &nbsp;&nbsp;&nbsp; USD1,965 | 498127 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/23/32<sup>(c)(j)(k)</sup> | &nbsp;&nbsp;&nbsp; USD2,327 | 594548 |
|  |  | 9220393 |
| **Macedonia — 0.0%** | **Macedonia — 0.0%** | **Macedonia — 0.0%** |
| &nbsp;&nbsp;&nbsp; North Macedonia Government International <br> Bonds, 6.96%, 03/13/27<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR547 | 654216 |
| **Mexico — 0.9%** | **Mexico — 0.9%** | **Mexico — 0.9%** |
| Eagle Funding Luxco SARL |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 08/17/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,897 | 2916410 |
| &nbsp;&nbsp;&nbsp; 5.50%, 08/17/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,521 | 1531191 |
| Mexican Bonos |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 09/03/26 | &nbsp;&nbsp;&nbsp; MXN825,246 | 47290779 |
| &nbsp;&nbsp;&nbsp; 8.00%, 04/29/55 | &nbsp;&nbsp;&nbsp; MXN78,027 | 3718805 |
| &nbsp;&nbsp;&nbsp; 8.50%, 03/01/29 | &nbsp;&nbsp;&nbsp; MXN407,360 | 30471043 |
| &nbsp;&nbsp;&nbsp; Series M, 7.75%, 11/13/42 | &nbsp;&nbsp;&nbsp; MXN874,069 | 42002932 |
| &nbsp;&nbsp;&nbsp; Series M 20, 8.50%, 05/31/29 | &nbsp;&nbsp;&nbsp; MXN57,438 | 3308016 |
| Mexico Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 5.40%, 02/09/28 | &nbsp;&nbsp;&nbsp; USD4,596 | 4663331 |
| &nbsp;&nbsp;&nbsp; 6.00%, 05/13/30 | &nbsp;&nbsp;&nbsp; USD3,547 | 3680012 |
| &nbsp;&nbsp;&nbsp; 7.38%, 05/13/55<sup>(f)</sup> | &nbsp;&nbsp;&nbsp; USD11,475 | 12228047 |
|  |  | 151810566 |
| **Mongolia — 0.0%** | **Mongolia — 0.0%** | **Mongolia — 0.0%** |
| &nbsp;&nbsp;&nbsp; City of Ulaanbaatar Mongolia, 7.75%, <br> 08/21/27<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,500 | 1526250 |
| &nbsp;&nbsp;&nbsp; Development Bank of Mongolia LLC, 8.50%, <br> 07/03/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,124 | 3224241 |
| &nbsp;&nbsp;&nbsp; Mongolia Government International Bonds, <br> 6.63%, 02/25/30<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,368 | 1406304 |
|  |  | 6156795 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Montenegro — 0.0%** | **Montenegro — 0.0%** | **Montenegro — 0.0%** |
| &nbsp;&nbsp;&nbsp; Montenegro Government International <br> Bonds, 2.88%, 12/16/27<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR575 | $660592 |
| **Morocco — 0.0%** | **Morocco — 0.0%** | **Morocco — 0.0%** |
| Morocco Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 2.38%, 12/15/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD823 | 793932 |
| &nbsp;&nbsp;&nbsp; 4.75%, 04/02/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR938 | 1106740 |
| &nbsp;&nbsp;&nbsp; 5.95%, 03/08/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD468 | 477506 |
|  |  | 2378178 |
| **Mozambique — 0.0%** | **Mozambique — 0.0%** | **Mozambique — 0.0%** |
| &nbsp;&nbsp;&nbsp; Mozambique International Bond, 9.00%, <br> 09/15/31<sup>(c)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,377 | 1124417 |
| **Nigeria — 0.1%** | **Nigeria — 0.1%** | **Nigeria — 0.1%** |
| Nigeria Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 6.13%, 09/28/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD8,600 | 8658050 |
| &nbsp;&nbsp;&nbsp; 7.14%, 02/23/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,260 | 4396320 |
| &nbsp;&nbsp;&nbsp; 8.38%, 03/24/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD5,843 | 6248095 |
| &nbsp;&nbsp;&nbsp; 9.13%, 01/13/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3,948 | 4352670 |
| &nbsp;&nbsp;&nbsp; 10.38%, 12/09/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD734 | 877314 |
|  |  | 24532449 |
| **Oman — 0.0%** | **Oman — 0.0%** | **Oman — 0.0%** |
| &nbsp;&nbsp;&nbsp; Oman Government International Bonds, <br> 6.75%, 01/17/48<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,108 | 1207410 |
| **Pakistan — 0.1%** | **Pakistan — 0.1%** | **Pakistan — 0.1%** |
| &nbsp;&nbsp;&nbsp; Pakistan Global Sukuk Programme Co. Ltd. <br> (The), 7.95%, 01/31/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD2,173 | 2212114 |
| Pakistan Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 12/05/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD9,342 | 9370727 |
| &nbsp;&nbsp;&nbsp; 7.38%, 04/08/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD5,657 | 5459118 |
|  |  | 17041959 |
| **Paraguay — 0.1%** | **Paraguay — 0.1%** | **Paraguay — 0.1%** |
| &nbsp;&nbsp;&nbsp; Paraguay Government International Bonds, <br> 8.50%, 04/04/38<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; PYG48,436,000 | 7910484 |
| **Peru — 0.1%** | **Peru — 0.1%** | **Peru — 0.1%** |
| &nbsp;&nbsp;&nbsp; Corp. Financiera de Desarrollo SA, 2.40%, <br> 09/28/27<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD9,128 | 8858583 |
| Fondo MIVIVIENDA SA, 4.63%, 04/12/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD1,148 | 1151180 |
| &nbsp;&nbsp;&nbsp; Peru Government International Bonds, <br> 7.60%, 08/12/39<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; PEN13,892 | 4166622 |
| Peruvian Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 6.20%, 06/30/55 | &nbsp;&nbsp;&nbsp; USD386 | 392721 |
| &nbsp;&nbsp;&nbsp; 7.60%, 08/12/39<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; PEN27,589 | 8274757 |
|  |  | 22843863 |
| **Philippines — 0.4%** | **Philippines — 0.4%** | **Philippines — 0.4%** |
| Philippine Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 5.93%, 02/23/36 | &nbsp;&nbsp;&nbsp; PHP161,000 | 2427807 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/20/30 | &nbsp;&nbsp;&nbsp; PHP1,934,650 | 30461436 |
| &nbsp;&nbsp;&nbsp; 6.38%, 04/28/35 | &nbsp;&nbsp;&nbsp; PHP1,115,910 | 17447902 |
| &nbsp;&nbsp;&nbsp; Philippine Government International Bonds, <br> 4.63%, 07/17/28<br>| &nbsp;&nbsp;&nbsp; USD3,419 | 3438864 |
| &nbsp;&nbsp;&nbsp; Philippines Government International Bonds, <br> 6.38%, 07/27/30<br>| &nbsp;&nbsp;&nbsp; PHP1,101,200 | 17597470 |
|  |  | 71373479 |
| **Poland — 0.6%** | **Poland — 0.6%** | **Poland — 0.6%** |
| Republic of Poland Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 08/25/36 | &nbsp;&nbsp;&nbsp; PLN10,919 | 2748243 |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/25/31 | &nbsp;&nbsp;&nbsp; PLN20,074 | 5192876 |
| &nbsp;&nbsp;&nbsp; 4.75%, 07/25/29 | &nbsp;&nbsp;&nbsp; PLN57,039 | 15648943 |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/25/34 | &nbsp;&nbsp;&nbsp; PLN58,007 | 15329696 |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/25/35 | &nbsp;&nbsp;&nbsp; PLN90,752 | 23686014 |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/25/29 | &nbsp;&nbsp;&nbsp; PLN100,336 | 28385029 |
| &nbsp;&nbsp;&nbsp; Republic of Poland Government <br> International Bonds<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 02/12/30 | &nbsp;&nbsp;&nbsp; USD6,108 | 6247629 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Poland (continued)** | **Poland (continued)** | **Poland (continued)** |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/04/33 | &nbsp;&nbsp;&nbsp; USD519 | $520297 |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/04/53 | &nbsp;&nbsp;&nbsp; USD786 | 732843 |
|  |  | 98491570 |
| **Qatar — 0.0%** | **Qatar — 0.0%** | **Qatar — 0.0%** |
| &nbsp;&nbsp;&nbsp; Qatar Government International Bonds, <br> 3.25%, 06/02/26<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD5,336 | 5329330 |
| **Romania — 0.3%** | **Romania — 0.3%** | **Romania — 0.3%** |
| Romanian Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 2.12%, 07/16/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR1,515 | 1549098 |
| &nbsp;&nbsp;&nbsp; 2.75%, 04/14/41<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR3,160 | 2364781 |
| &nbsp;&nbsp;&nbsp; 3.00%, 02/14/31<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD788 | 705489 |
| &nbsp;&nbsp;&nbsp; 3.63%, 03/27/32<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,158 | 3726607 |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/04/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR846 | 940470 |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/25/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD314 | 314738 |
| &nbsp;&nbsp;&nbsp; 5.25%, 11/25/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD5,796 | 5809621 |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/10/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR7,342 | 8833824 |
| &nbsp;&nbsp;&nbsp; 5.75%, 09/16/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2,234 | 2256340 |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/30/29<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD18,668 | 18959968 |
| &nbsp;&nbsp;&nbsp; 6.25%, 09/10/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR1,221 | 1465717 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/07/45<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR755 | 853151 |
| &nbsp;&nbsp;&nbsp; 6.63%, 02/17/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD896 | 917029 |
| &nbsp;&nbsp;&nbsp; 6.75%, 07/11/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR540 | 638524 |
|  |  | 49335357 |
| **Saudi Arabia — 0.1%** | **Saudi Arabia — 0.1%** | **Saudi Arabia — 0.1%** |
| Saudi Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/18/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD7,908 | 7937655 |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/18/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,206 | 1039379 |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/18/53<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD2,937 | 2531224 |
| &nbsp;&nbsp;&nbsp; 5.13%, 01/13/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4,367 | 4405211 |
|  |  | 15913469 |
| **Senegal — 0.0%** | **Senegal — 0.0%** | **Senegal — 0.0%** |
| &nbsp;&nbsp;&nbsp; Senegal Government International Bonds, <br> 4.75%, 03/13/28<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; EUR4,517 | 3471615 |
| **Serbia — 0.0%** | **Serbia — 0.0%** | **Serbia — 0.0%** |
| Serbia International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 05/06/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR441 | 514621 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/12/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD746 | 765023 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/26/33<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD528 | 560340 |
|  |  | 1839984 |
| **South Africa — 1.0%** | **South Africa — 1.0%** | **South Africa — 1.0%** |
| Republic of South Africa Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/28/31 | &nbsp;&nbsp;&nbsp; ZAR964,237 | 54801142 |
| &nbsp;&nbsp;&nbsp; 8.00%, 01/31/30 | &nbsp;&nbsp;&nbsp; ZAR987,336 | 58915365 |
| &nbsp;&nbsp;&nbsp; 8.50%, 01/31/37 | &nbsp;&nbsp;&nbsp; ZAR493,413 | 28466572 |
| &nbsp;&nbsp;&nbsp; 8.75%, 02/28/48 | &nbsp;&nbsp;&nbsp; ZAR176,827 | 10009661 |
| &nbsp;&nbsp;&nbsp; 8.88%, 02/28/35 | &nbsp;&nbsp;&nbsp; ZAR28,439 | 1714476 |
| &nbsp;&nbsp;&nbsp; Republic of South Africa Government <br> International Bonds<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 07/24/26 | &nbsp;&nbsp;&nbsp; EUR3,195 | 3748461 |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/12/46 | &nbsp;&nbsp;&nbsp; USD765 | 569925 |
| &nbsp;&nbsp;&nbsp; 5.75%, 09/30/49 | &nbsp;&nbsp;&nbsp; USD1,365 | 1102920 |
| &nbsp;&nbsp;&nbsp; 7.10%, 11/19/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD741 | 775086 |
| &nbsp;&nbsp;&nbsp; 7.25%, 12/11/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD468 | 440856 |
| &nbsp;&nbsp;&nbsp; 7.95%, 11/19/54<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD945 | 965128 |
|  |  | 161509592 |
| **Spain — 2.3%** | **Spain — 2.3%** | **Spain — 2.3%** |
| Spain Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 2.35%, 03/31/29 | &nbsp;&nbsp;&nbsp; EUR64,175 | 74364828 |
| &nbsp;&nbsp;&nbsp; 2.60%, 05/31/31 | &nbsp;&nbsp;&nbsp; EUR108,123 | 124694298 |
| &nbsp;&nbsp;&nbsp; 2.70%, 01/31/30 | &nbsp;&nbsp;&nbsp; EUR35,629 | 41580961 |
| &nbsp;&nbsp;&nbsp; 3.30%, 04/30/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR105,762 | 122103266 |
| &nbsp;&nbsp;&nbsp; 3.45%, 10/31/34<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; EUR16,842 | 19908216 |
|  |  | 382651569 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Sri Lanka — 0.1%** | **Sri Lanka — 0.1%** | **Sri Lanka — 0.1%** |
| Sri Lanka Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 3.10%, 01/15/30<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,775 | $1690133 |
| &nbsp;&nbsp;&nbsp; 3.35%, 01/15/30<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD212 | 202211 |
| &nbsp;&nbsp;&nbsp; 3.35%, 03/15/33<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,522 | 3138174 |
| &nbsp;&nbsp;&nbsp; 3.60%, 03/15/33<sup>(b)(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD405 | 360975 |
| &nbsp;&nbsp;&nbsp; 3.60%, 06/15/35<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD2,344 | 1804392 |
| &nbsp;&nbsp;&nbsp; 3.60%, 05/15/36<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,665 | 1565254 |
| &nbsp;&nbsp;&nbsp; 3.60%, 02/15/38<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD3,243 | 3056673 |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/15/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD3,652 | 3484112 |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD1,239 | 1182066 |
| &nbsp;&nbsp;&nbsp; 5.10%, 06/15/35<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD1,600 | 1232000 |
|  |  | 17715990 |
| **Supranational — 0.0%** | **Supranational — 0.0%** | **Supranational — 0.0%** |
| &nbsp;&nbsp;&nbsp; African Export-Import Bank (The), 3.99%, <br> 09/21/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,353 | 3162248 |
| **Suriname — 0.0%** | **Suriname — 0.0%** | **Suriname — 0.0%** |
| &nbsp;&nbsp;&nbsp; Suriname Government International Bonds, <br> 8.50%, 11/06/35<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD657 | 718635 |
| **Trinidad and Tobago — 0.0%** | **Trinidad and Tobago — 0.0%** | **Trinidad and Tobago — 0.0%** |
| &nbsp;&nbsp;&nbsp; Trinidad & Tobago Government International <br> Bonds, 6.50%, 01/28/36<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD669 | 685103 |
| **Tunisia — 0.1%** | **Tunisia — 0.1%** | **Tunisia — 0.1%** |
| Tunisian Republic, 6.38%, 07/15/26<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; EUR11,485 | 13400378 |
| **Turkey — 0.2%** | **Turkey — 0.2%** | **Turkey — 0.2%** |
| Turkiye Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 26.20%, 10/05/33 | &nbsp;&nbsp;&nbsp; TRY234,670 | 4347010 |
| &nbsp;&nbsp;&nbsp; 27.70%, 09/27/34 | &nbsp;&nbsp;&nbsp; TRY202,846 | 3934835 |
| &nbsp;&nbsp;&nbsp; 30.00%, 09/12/29 | &nbsp;&nbsp;&nbsp; TRY107,779 | 2114571 |
| &nbsp;&nbsp;&nbsp; 33.90%, 10/02/30 | &nbsp;&nbsp;&nbsp; TRY57,000 | 1228689 |
| Turkiye Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 6.30%, 03/14/33 | &nbsp;&nbsp;&nbsp; USD652 | 628675 |
| &nbsp;&nbsp;&nbsp; 6.95%, 09/16/35 | &nbsp;&nbsp;&nbsp; USD2,527 | 2490990 |
| &nbsp;&nbsp;&nbsp; 7.13%, 02/12/32 | &nbsp;&nbsp;&nbsp; USD1,265 | 1290616 |
| &nbsp;&nbsp;&nbsp; 9.13%, 07/13/30 | &nbsp;&nbsp;&nbsp; USD3,815 | 4212027 |
| &nbsp;&nbsp;&nbsp; 9.38%, 01/19/33 | &nbsp;&nbsp;&nbsp; USD4,935 | 5588887 |
|  |  | 25836300 |
| **Ukraine — 0.0%** | **Ukraine — 0.0%** | **Ukraine — 0.0%** |
| Ukraine Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 3.00%, 02/01/30<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD25 | 15781 |
| &nbsp;&nbsp;&nbsp; 3.00%, 02/01/34<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD64 | 30054 |
| &nbsp;&nbsp;&nbsp; 3.00%, 02/01/35<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD54 | 27520 |
| &nbsp;&nbsp;&nbsp; 3.00%, 02/01/36<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD54 | 27496 |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/01/29<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD225 | 174464 |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/01/34<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD150 | 91382 |
|  |  | 366697 |
| **United Arab Emirates — 0.0%** | **United Arab Emirates — 0.0%** | **United Arab Emirates — 0.0%** |
| &nbsp;&nbsp;&nbsp; Abu Dhabi Government International Bonds, <br> 4.88%, 04/30/29<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD4,322 | 4382508 |
| &nbsp;&nbsp;&nbsp; Emirate of Dubai Government International <br> Bonds, 3.90%, 09/09/50<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD891 | 632949 |
|  |  | 5015457 |
| **United Kingdom — 0.1%** | **United Kingdom — 0.1%** | **United Kingdom — 0.1%** |
| United Kingdom Gilt, 4.38%, 03/07/30<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; GBP15,219 | 20639580 |
| **Uruguay — 0.1%** | **Uruguay — 0.1%** | **Uruguay — 0.1%** |
| Uruguay Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 10/29/35 | &nbsp;&nbsp;&nbsp; UYU217,460 | 5519119 |
| &nbsp;&nbsp;&nbsp; 9.75%, 07/20/33 | &nbsp;&nbsp;&nbsp; UYU109,402 | 3027037 |
|  |  | 8546156 |
| **Uzbekistan — 0.1%** | **Uzbekistan — 0.1%** | **Uzbekistan — 0.1%** |
| Republic of Uzbekistan International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/29/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; EUR704 | 835760 |
| &nbsp;&nbsp;&nbsp; 7.85%, 10/12/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD517 | 547177 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Uzbekistan (continued)** | **Uzbekistan (continued)** | **Uzbekistan (continued)** |
| &nbsp;&nbsp;&nbsp; 7.85%, 10/12/28<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD6,700 | $7091079 |
| &nbsp;&nbsp;&nbsp; 16.63%, 05/29/27<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; UZS15,430,000 | 1360000 |
|  |  | 9834016 |
| **Zambia — 0.0%** | **Zambia — 0.0%** | **Zambia — 0.0%** |
| Zambia Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 0.50%, 12/31/53<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD4,051 | 2767867 |
| &nbsp;&nbsp;&nbsp; 7.50%, 06/30/33<sup>(c)(d)</sup> | &nbsp;&nbsp;&nbsp; USD4,839 | 4773625 |
|  |  | 7541492 |
| **Total Foreign Government Obligations — 12.9%** <br>**(Cost: $2,157,348,816)** | **Total Foreign Government Obligations — 12.9%** <br>**(Cost: $2,157,348,816)** | 2173709985 |
| **Municipal Debt Obligations** | **Municipal Debt Obligations** | **Municipal Debt Obligations** |
| **Arizona — 0.0%** | **Arizona — 0.0%** | **Arizona — 0.0%** |
| &nbsp;&nbsp;&nbsp; Maricopa County Industrial Development <br> Authority, RB, 7.38%, 10/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; $1330 | 1397851 |
| **Texas — 0.0%** | **Texas — 0.0%** | **Texas — 0.0%** |
| &nbsp;&nbsp;&nbsp; Port of Beaumont Navigation District, RB, <br> 10.00%, 07/01/26<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 870 | 870359 |
| **Total Municipal Debt Obligations — 0.0%** <br>**(Cost: $2,200,000)** | **Total Municipal Debt Obligations — 0.0%** <br>**(Cost: $2,200,000)** | 2268210 |
| **U.S. Government Agency Obligations** | **U.S. Government Agency Obligations** | **U.S. Government Agency Obligations** |
| **Mortgage-Backed Securities — 25.1%** | **Mortgage-Backed Securities — 25.1%** | **Mortgage-Backed Securities — 25.1%** |
| Uniform Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 05/13/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 624239 | 522614787 |
| &nbsp;&nbsp;&nbsp; 2.50%, 06/11/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 624239 | 522444095 |
| &nbsp;&nbsp;&nbsp; 3.00%, 05/13/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 48200 | 42189099 |
| &nbsp;&nbsp;&nbsp; 3.00%, 06/11/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 20700 | 18192631 |
| &nbsp;&nbsp;&nbsp; 3.50%, 05/13/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 1484034 | 1350672839 |
| &nbsp;&nbsp;&nbsp; 3.50%, 06/11/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 593600 | 539932309 |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/13/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 416188 | 390257594 |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/11/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 124500 | 116665271 |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/13/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 46634 | 44852846 |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/13/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 48763 | 49005564 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/11/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 14800 | 14857433 |
| &nbsp;&nbsp;&nbsp; 6.00%, 05/13/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 373469 | 381249304 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/11/56<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 240800 | 245562504 |
|  |  | 4238496276 |
| **U.S. Government Agency Obligations — 0.0%** | **U.S. Government Agency Obligations — 0.0%** | **U.S. Government Agency Obligations — 0.0%** |
| &nbsp;&nbsp;&nbsp; Tennessee Valley Authority, 5.25%, <br> 02/01/55<br>| &nbsp;&nbsp;&nbsp; 6290 | 6121474 |
| **Total U.S. Government Agency Obligations — 25.1%** <br>**(Cost: $4,263,973,554)** | **Total U.S. Government Agency Obligations — 25.1%** <br>**(Cost: $4,263,973,554)** | 4244617750 |
| **U.S. Treasury Obligations — 0.2%** | **U.S. Treasury Obligations — 0.2%** | **U.S. Treasury Obligations — 0.2%** |
| U.S. Treasury Bills3.69%, 05/19/26<sup>(p)</sup> | &nbsp;&nbsp;&nbsp; 35000 | 34937162 |
| **Total U.S. Treasury Obligations — 0.2%** <br>**(Cost: $34,937,236)** | **Total U.S. Treasury Obligations — 0.2%** <br>**(Cost: $34,937,236)** | 34937162 |
| **Floating Rate Loan Interests**<sup>(b)</sup> | **Floating Rate Loan Interests**<sup>(b)</sup> | **Floating Rate Loan Interests**<sup>(b)</sup> |
| **Advertising — 0.0%** | **Advertising — 0.0%** | **Advertising — 0.0%** |
| &nbsp;&nbsp;&nbsp; Neptune Bidco U.S., Inc., 2026 EUR Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> + 5.00%), 7.15%, 02/03/33<br>| &nbsp;&nbsp;&nbsp; EUR1,500 | 1749032 |
| &nbsp;&nbsp;&nbsp; Summer BC Holdco B SARL, 2024 USD <br> Term Loan B, (3-mo. CME Term SOFR at <br> 0.00% Floor at 5.00%), 8.96%, 02/15/29<br>| &nbsp;&nbsp;&nbsp; USD2,992 | 2510791 |
|  |  | 4259823 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Aerospace & Defense — 0.0%** | **Aerospace & Defense — 0.0%** | **Aerospace & Defense — 0.0%** |
| &nbsp;&nbsp;&nbsp; Aernnova Aerospace S.A.U, 2024 EUR Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> + 4.00%), 6.10%, 02/27/30<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | $1160446 |
| **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** | **Auto Parts & Equipment — 0.0%** |
| Clarios Global LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 EUR Term Loan B, (1-mo. <br> EURIBOR at 0.00% Floor + 3.25%), <br> 5.26%, 01/28/32<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1180492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 EUR Term Loan B, (1-mo. <br> EURIBOR at 0.00% Floor + 3.00%), <br> 5.01%, 07/16/31<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1179154 |
|  |  | 2359646 |
| **Building Materials — 0.0%** | **Building Materials — 0.0%** | **Building Materials — 0.0%** |
| &nbsp;&nbsp;&nbsp; Hestiafloor 2 SASU, 2026 EUR Repriced <br> Term Loan B, (3-mo. EURIBOR at 0.00% <br> Floor + 3.00%), 5.13%, 02/27/30<br>| &nbsp;&nbsp;&nbsp; EUR1,500 | 1761584 |
| **Chemicals — 0.1%** | **Chemicals — 0.1%** | **Chemicals — 0.1%** |
| &nbsp;&nbsp;&nbsp; INEOS Quattro Holdings U.K. Ltd., 2023 <br> EUR 1st Lien Term Loan B, (1-mo. <br> EURIBOR at 0.00% Floor + 4.50%), <br> 6.51%, 04/02/29<br>| &nbsp;&nbsp;&nbsp; EUR3,000 | 3280363 |
| &nbsp;&nbsp;&nbsp; Nobian Finance B.V., 2024 EUR Term Loan <br> B, (6-mo. EURIBOR at 0.00% Floor + <br> 3.65%), 6.16%, 07/02/29<br>| &nbsp;&nbsp;&nbsp; EUR1,750 | 2027248 |
| &nbsp;&nbsp;&nbsp; Rain Carbon GmbH, 2023 EUR Term Loan <br> B, (3-mo. EURIBOR at 0.00% Floor + <br> 5.00%), 7.11%, 10/31/28<br>| &nbsp;&nbsp;&nbsp; EUR1,809 | 2101254 |
|  |  | 7408865 |
| **Commercial Services — 0.4%** | **Commercial Services — 0.4%** | **Commercial Services — 0.4%** |
| &nbsp;&nbsp;&nbsp; Albion Financing 3 SARL, 2025 EUR Term <br> Loan, (3-mo. EURIBOR at 0.00% Floor + <br> 3.00%), 5.20%, 05/21/31<br>| &nbsp;&nbsp;&nbsp; EUR1,500 | 1768256 |
| &nbsp;&nbsp;&nbsp; AlixPartners LLP, 2025 EUR Term Loan, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 3.00%), 5.13%, 08/12/32<br>| &nbsp;&nbsp;&nbsp; EUR2,964 | 3486361 |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, 2025 USD <br> Term Loan B, (1-mo. CME Term SOFR at <br> 0.00% Floor + 3.25%), 6.90%, 08/20/32<br>| &nbsp;&nbsp;&nbsp; USD1,105 | 1107595 |
| Anticimex International AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 EUR Term Loan B, (3-mo. SOFR + <br> 3.51%), 5.27%, 11/17/31<br>| &nbsp;&nbsp;&nbsp; EUR1,350 | 1593664 |
| &nbsp;&nbsp;&nbsp; 2025 USD Term Loan, 11/17/31<sup>(i)(l)</sup> | &nbsp;&nbsp;&nbsp; 12000 | 8539801 |
| &nbsp;&nbsp;&nbsp; Atlas Luxco 4 SARL, EUR Term Loan B, <br> (1-mo. EURIBOR at 0.00% Floor + <br> 3.75%), 5.76%, 08/20/32<br>| &nbsp;&nbsp;&nbsp; EUR1,530 | 1806941 |
| &nbsp;&nbsp;&nbsp; Belron U.K. Finance PLC, 2026 EUR Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> + 2.25%), 4.27%, 10/16/31<br>| &nbsp;&nbsp;&nbsp; EUR3,377 | 3972132 |
| &nbsp;&nbsp;&nbsp; Boluda Towage SL, 2024 EUR Term Loan B, <br> (1-mo. EURIBOR at 0.00% Floor + <br> 3.50%), 5.51%, 01/31/30<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1182745 |
| &nbsp;&nbsp;&nbsp; Eagle Bidco Ltd., 2025 EUR Term Loan B, <br> (1-mo. EURIBOR at 0.00% Floor + <br> 3.50%), 5.51%, 02/29/32<br>| &nbsp;&nbsp;&nbsp; EUR3,000 | 3529751 |
| &nbsp;&nbsp;&nbsp; Europa University Education Group SL, <br> 2026 EUR Term Loan B, (3-mo. <br> EURIBOR at 0.00% Floor + 3.00%), <br> 5.02%, 12/03/31<br>| &nbsp;&nbsp;&nbsp; EUR1,483 | 1741956 |
| &nbsp;&nbsp;&nbsp; Financiere Pax SAS, 2025 EUR Repriced <br> Term Loan B, (3-mo. EURIBOR at 0.00% <br> Floor + 3.50%), 5.64%, 12/31/29<br>| &nbsp;&nbsp;&nbsp; EUR4,133 | 4780600 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| &nbsp;&nbsp;&nbsp; Fugue Finance B.V., 2026 EUR Term Loan <br> B, (3-mo. EURIBOR at 0.00% Floor + <br> 2.75%), 4.80%, 01/09/32<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | $2346243 |
| &nbsp;&nbsp;&nbsp; Holding Socotec SAS, 2026 EUR Term Loan <br> B, (3-mo. EURIBOR at 0.00% Floor + <br> 3.00%), 5.13%, 06/02/31<br>| &nbsp;&nbsp;&nbsp; EUR1,938 | 2282474 |
| &nbsp;&nbsp;&nbsp; Inspired FinCo Holdings Ltd., 2026 EUR <br> Term Loan B8, (1-mo. EURIBOR at <br> 0.00% Floor + 3.00%), 5.01%, 02/28/31<br>| &nbsp;&nbsp;&nbsp; EUR1,923 | 2260560 |
| &nbsp;&nbsp;&nbsp; ION Platform Finance Sarl, EUR Term Loan, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 4.00%), 6.13%, 10/07/32<br>| &nbsp;&nbsp;&nbsp; EUR2,965 | 2784700 |
| &nbsp;&nbsp;&nbsp; Modulaire Group Holdings Ltd., 2025 EUR <br> Term Loan, (3-mo. EURIBOR at 0.00% <br> Floor + 4.43%), 6.55%, 07/10/31<br>| &nbsp;&nbsp;&nbsp; EUR2,500 | 2662718 |
| &nbsp;&nbsp;&nbsp; Obol France 3 SAS, 2024 EUR Term Loan <br> B, (6-mo. EURIBOR at 0.00% Floor + <br> 5.00%), 7.53%, 12/31/28<br>| &nbsp;&nbsp;&nbsp; EUR917 | 1065968 |
| OCS Group Holdings Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 EUR Term Loan B4, (6-mo. <br> EURIBOR at 0.00% Floor + 4.25%), <br> 6.36%, 11/28/31<br>| &nbsp;&nbsp;&nbsp; EUR2,076 | 2438921 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2026 GBP Term Loan B5, (3-mo. SONIA <br> at 0.00% Floor + 5.25%), 8.98%, <br> 11/28/31<br>| &nbsp;&nbsp;&nbsp; GBP1,000 | 1355647 |
| &nbsp;&nbsp;&nbsp; Sector Alarm Holding AS, 2026 EUR Facility <br> 2 Term Loan B4, (3-mo. EURIBOR at <br> 0.00% Floor + 3.00%), 5.01%, 06/14/32<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1171326 |
| &nbsp;&nbsp;&nbsp; Techem Verwaltungsgesellschaft 675 mbH, <br> 2025 EUR Term Loan B, (3-mo. <br> EURIBOR at 0.00% Floor + 3.25%), <br> 5.23%, 07/15/32<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2359763 |
| &nbsp;&nbsp;&nbsp; Trevise Holdings 1 SAS, 2025 EUR Term <br> Loan B, (1-mo. EURIBOR at 0.00% Floor <br> + 3.75%), 5.76%, 07/09/29<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1182663 |
| &nbsp;&nbsp;&nbsp; Verisure Holding AB, 2025 EUR Term Loan <br> B, (3-mo. EURIBOR at 0.00% Floor + <br> 2.25%), 4.28%, 11/03/32<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2351947 |
|  |  | 57772732 |
| **Computers — 0.1%** | **Computers — 0.1%** | **Computers — 0.1%** |
| &nbsp;&nbsp;&nbsp; Atos SE, EUR Term Loan B, (3-mo. <br> EURIBOR at 0.00% Floor + 2.60%), <br> 4.76%, 12/17/30<br>| &nbsp;&nbsp;&nbsp; EUR3,126 | 3740173 |
| &nbsp;&nbsp;&nbsp; Indy U.S. Bidco LLC, 2025 EUR Term Loan <br> B, (1-mo. EURIBOR at 0.00% Floor + <br> 2.75%), 4.76%, 10/31/30<br>| &nbsp;&nbsp;&nbsp; EUR1,768 | 2073232 |
| &nbsp;&nbsp;&nbsp; McAfee Corp., 2024 EUR Term Loan B, <br> (1-mo. EURIBOR at 0.00% Floor + <br> 3.50%), 5.65%, 03/01/29<br>| &nbsp;&nbsp;&nbsp; EUR1,599 | 1724078 |
|  |  | 7537483 |
| **Cosmetics & Personal Care — 0.0%** | **Cosmetics & Personal Care — 0.0%** | **Cosmetics & Personal Care — 0.0%** |
| &nbsp;&nbsp;&nbsp; Rainbow U.K. Bidco Ltd., EUR Term Loan B, <br> (6-mo. EURIBOR at 0.00% Floor + <br> 3.25%), 5.39%, 02/23/29<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1183426 |
| **Distribution & Wholesale — 0.0%** | **Distribution & Wholesale — 0.0%** | **Distribution & Wholesale — 0.0%** |
| &nbsp;&nbsp;&nbsp; Parts Europe SA, 2025 EUR Repriced Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> + 2.75%), 4.92%, 02/06/31<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2361594 |
| **Diversified Financial Services — 0.1%** | **Diversified Financial Services — 0.1%** | **Diversified Financial Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Garfunkelux Holdco 3 SA, EUR Term Loan, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 4.75%), 6.88%, 08/01/28<br>| &nbsp;&nbsp;&nbsp; EUR8,000 | 9060576 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** | **Diversified Financial Services (continued)** |
| &nbsp;&nbsp;&nbsp; NWL Co. LLC, Term Loan, (3-mo. CME Term <br> SOFR + 6.00%), 9.67%, 03/09/31<sup>(i)</sup><br>| &nbsp;&nbsp;&nbsp; USD3,200 | $3170032 |
| &nbsp;&nbsp;&nbsp; Sapiencia Bidco SL, EUR Term Loan B, <br> 02/18/33<sup>(l)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,300 | 1525958 |
| &nbsp;&nbsp;&nbsp; Talbot Participation SAS, EUR Refinance <br> Term Loan B, (3-mo. EURIBOR at 0.00% <br> Floor + 3.00%), 5.13%, 07/07/32<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1178544 |
| &nbsp;&nbsp;&nbsp; Vehis Auto Leasing 2025 Designated Activity <br> Co., PLN Mezzanine Revolver, (3-mo. <br> WIBOR + 5.50%), 9.31%, 06/10/32<sup>(i)</sup><br>| &nbsp;&nbsp;&nbsp; PLN5,860 | 1616640 |
|  |  | 16551750 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| &nbsp;&nbsp;&nbsp; Quimper AB, 2026 EUR Term Loan B, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 3.00%), 5.12%, 03/31/30<br>| &nbsp;&nbsp;&nbsp; EUR1,500 | 1759841 |
| &nbsp;&nbsp;&nbsp; SGB-SMIT Midco GmbH, EUR Term Loan B, <br> (3-mo. EURIBOR at 0.00% Floor at <br> 3.75%), 5.88%, 03/10/33<br>| &nbsp;&nbsp;&nbsp; EUR1,500 | 1769646 |
|  |  | 3529487 |
| **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** | **Engineering & Construction — 0.0%** |
| Platea BC Bidco AB |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR Term Loan, (3-mo. EURIBOR at <br> 0.00% Floor + 3.50%), 5.63%, <br> 04/03/31<br>| &nbsp;&nbsp;&nbsp; EUR1,667 | 1971575 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; EUR Delayed Draw Term Loan, (3-mo. <br> EURIBOR at 0.00% Floor + 3.50%), <br> 5.63%, 04/03/31<br>| &nbsp;&nbsp;&nbsp; EUR333 | 394315 |
|  |  | 2365890 |
| **Entertainment — 0.2%** | **Entertainment — 0.2%** | **Entertainment — 0.2%** |
| &nbsp;&nbsp;&nbsp; Allwyn Entertainment Financing U.K. PLC, <br> EUR Term Loan B, (1-mo. EURIBOR at <br> 0.00% Floor + 3.00%), 5.01%, 03/28/32<br>| &nbsp;&nbsp;&nbsp; EUR5,679 | 6675554 |
| &nbsp;&nbsp;&nbsp; Betclic Everest Group SAS, 2026 EUR Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> at 3.00%), 5.23%, 12/10/31<br>| &nbsp;&nbsp;&nbsp; EUR12,219 | 14330665 |
| &nbsp;&nbsp;&nbsp; Dorna Sports SL, 2025 EUR Term Loan B, <br> (6-mo. EURIBOR at 0.00% Floor + <br> 2.75%), 4.87%, 08/18/32<br>| &nbsp;&nbsp;&nbsp; EUR1,750 | 2063910 |
| &nbsp;&nbsp;&nbsp; Elvis UK Holdco Ltd., 2025 EUR Term Loan <br> B, (3-mo. EURIBOR at 0.00% Floor + <br> 3.60%), 5.79%, 10/31/31<br>| &nbsp;&nbsp;&nbsp; EUR2,500 | 2949528 |
| &nbsp;&nbsp;&nbsp; Entain Holdings Gibraltar Ltd., 2024 EUR <br> Term Loan B4, (3-mo. EURIBOR at <br> 0.00% Floor + 3.50%), 5.64%, 06/30/28<br>| &nbsp;&nbsp;&nbsp; EUR975 | 1152630 |
| &nbsp;&nbsp;&nbsp; Qsrp Finco SARL, 2025 EUR 1st Lien Term <br> Loan B, (6-mo. EURIBOR at 0.00% Floor <br> + 3.75%), 5.91%, 06/19/31<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1165094 |
|  |  | 28337381 |
| **Food — 0.1%** | **Food — 0.1%** | **Food — 0.1%** |
| &nbsp;&nbsp;&nbsp; Bellis Acquisition Co. PLC, 2024 EUR Term <br> Loan B, (6-mo. EURIBOR at 0.00% Floor <br> + 4.00%), 6.49%, 05/14/31<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2139869 |
| Froneri Lux FinCo SARL |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2024 EUR Term Loan B3, (6-mo. <br> EURIBOR at 0.00% Floor + 2.75%), <br> 4.90%, 09/30/31<br>| &nbsp;&nbsp;&nbsp; EUR1,500 | 1757288 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2025 EUR Term Loan, (6-mo. EURIBOR <br> at 0.00% Floor + 2.75%), 4.90%, <br> 09/30/32<br>| &nbsp;&nbsp;&nbsp; EUR4,128 | 4835415 |
| &nbsp;&nbsp;&nbsp; Market Bidco Ltd., 2024 EUR Term Loan B, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 4.50%), 6.51%, 11/04/30<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2331408 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Food (continued)** | **Food (continued)** | **Food (continued)** |
| &nbsp;&nbsp;&nbsp; Platform Bidco Ltd., 2026 EUR Term Loan B, <br> (6-mo. EURIBOR at 0.00% Floor + <br> 4.00%), 6.50%, 09/30/31<br>| &nbsp;&nbsp;&nbsp; EUR3,000 | $3465001 |
| &nbsp;&nbsp;&nbsp; ZF Bidco SAS, 2025 EUR Term Loan B, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 3.50%), 5.70%, 07/12/31<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1175856 |
|  |  | 15704837 |
| **Food Service — 0.0%** | **Food Service — 0.0%** | **Food Service — 0.0%** |
| &nbsp;&nbsp;&nbsp; Gategroup Finance International SARL, <br> EUR Repriced Term Loan, (3-mo. <br> EURIBOR at 0.00% Floor + 3.50%), <br> 5.62%, 06/10/32<br>| &nbsp;&nbsp;&nbsp; EUR1,478 | 1721500 |
| **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** | **Forest Products & Paper — 0.0%** |
| &nbsp;&nbsp;&nbsp; Ahlstrom Holding 3 OY, 2025 EUR Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> + 3.75%), 5.88%, 05/27/30<br>| &nbsp;&nbsp;&nbsp; EUR3,000 | 3524259 |
| **Health Care - Products — 0.0%** | **Health Care - Products — 0.0%** | **Health Care - Products — 0.0%** |
| &nbsp;&nbsp;&nbsp; Argent Bidco SAS, EUR Term Loan B, <br> 11/12/32<sup>(l)</sup><br>| &nbsp;&nbsp;&nbsp; EUR1,300 | 1532824 |
| **Health Care - Services — 0.1%** | **Health Care - Services — 0.1%** | **Health Care - Services — 0.1%** |
| &nbsp;&nbsp;&nbsp; Elsan SAS, 2025 EUR Term Loan B, (3-mo. <br> EURIBOR at 0.00% Floor + 3.40%), <br> 5.55%, 06/16/31<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2251201 |
| &nbsp;&nbsp;&nbsp; LSF12 Pillar Investments SARL, EUR Term <br> Loan B, 04/30/33<sup>(l)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2335563 |
| &nbsp;&nbsp;&nbsp; Median B V, 2026 EUR Term Loan B, (3-mo. <br> EURIBOR at 0.00% Floor + 5.25%), <br> 7.39%, 10/14/30<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2320892 |
| &nbsp;&nbsp;&nbsp; Mehilainen Yhtiot Oy, 2025 EUR Term Loan <br> B1, (3-mo. EURIBOR at 0.00% Floor + <br> 3.40%), 5.53%, 08/05/31<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1180844 |
| &nbsp;&nbsp;&nbsp; Ramsay Generale de Sante SA, 2025 EUR <br> Term Loan B4, (3-mo. EURIBOR at <br> 0.00% Floor + 3.25%), 5.44%, 08/13/31<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1169918 |
| &nbsp;&nbsp;&nbsp; Schoen Klinik SE, 2025 EUR Term Loan B2, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 3.00%), 5.13%, 01/12/31<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1180257 |
| &nbsp;&nbsp;&nbsp; Vivalto Sante Investissement SA, 2025 EUR <br> Term Loan B, (3-mo. EURIBOR at 0.00% <br> Floor + 3.50%), 5.63%, 07/21/31<br>| &nbsp;&nbsp;&nbsp; EUR3,000 | 3537075 |
|  |  | 13975750 |
| **Machinery — 0.1%** | **Machinery — 0.1%** | **Machinery — 0.1%** |
| &nbsp;&nbsp;&nbsp; Engineered Machinery Holdings, Inc., 2025 <br> EUR Term Loan, (3-mo. EURIBOR at <br> 0.00% Floor + 3.50%), 5.63%, 11/26/32<br>| &nbsp;&nbsp;&nbsp; EUR1,979 | 2336180 |
| &nbsp;&nbsp;&nbsp; Rubix Group Midco 3 Ltd., 2026 EUR Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> + 3.50%), 5.48%, 09/30/31<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2324718 |
| &nbsp;&nbsp;&nbsp; TK Elevator Midco GmbH, 2025 EUR Term <br> Loan B1, (6-mo. EURIBOR at 0.00% <br> Floor + 3.00%), 5.15%, 04/30/30<br>| &nbsp;&nbsp;&nbsp; EUR4,900 | 5763190 |
|  |  | 10424088 |
| **Machinery - Diversified — 0.0%** | **Machinery - Diversified — 0.0%** | **Machinery - Diversified — 0.0%** |
| &nbsp;&nbsp;&nbsp; INNIO Group Holding GmbH, 2026 EUR <br> Term Loan B, (3-mo. EURIBOR at 0.00% <br> Floor + 2.50%), 4.52%, 11/02/31<br>| &nbsp;&nbsp;&nbsp; EUR2,266 | 2669709 |
| **Manufacturing — 0.1%** | **Manufacturing — 0.1%** | **Manufacturing — 0.1%** |
| &nbsp;&nbsp;&nbsp; Kersia International SAS, 2026 EUR Term <br> Loan, (3-mo. EURIBOR at 0.00% Floor + <br> 3.50%), 5.63%, 12/18/30<br>| &nbsp;&nbsp;&nbsp; EUR2,414 | 2831727 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Manufacturing (continued)** | **Manufacturing (continued)** | **Manufacturing (continued)** |
| &nbsp;&nbsp;&nbsp; Seashell Bidco SL, EUR Term Loan B, <br> (6-mo. EURIBOR at 0.00% Floor + <br> 4.00%), 6.50%, 12/17/32<br>| &nbsp;&nbsp;&nbsp; EUR3,107 | $3651256 |
| &nbsp;&nbsp;&nbsp; Syntegon TopCo GmbH, 2026 EUR Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> at 3.50%), 5.58%, 12/29/32<br>| &nbsp;&nbsp;&nbsp; EUR3,900 | 4588677 |
| &nbsp;&nbsp;&nbsp; VDK Groep BV, EUR Term Loan B, (1-mo. <br> EURIBOR at 0.00% Floor + 3.25%), <br> 5.26%, 02/23/32<br>| &nbsp;&nbsp;&nbsp; EUR1,300 | 1535280 |
|  |  | 12606940 |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| &nbsp;&nbsp;&nbsp; Ziggo BV, 2019 EUR Term Loan H, (1-mo. <br> EURIBOR at 0.00% Floor + 3.00%), <br> 5.00%, 01/31/29<br>| &nbsp;&nbsp;&nbsp; EUR3,000 | 3470635 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; EG Finco Ltd., 2026 EUR Term Loan B, <br> (1-mo. EURIBOR at 0.00% Floor + <br> 3.50%), 5.51%, 02/10/31<br>| &nbsp;&nbsp;&nbsp; EUR4,000 | 4688261 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| &nbsp;&nbsp;&nbsp; Albea Beauty Holdings SA, 2023 EUR Term <br> Loan B, (6-mo. EURIBOR at 0.00% Floor <br> + 5.00%), 7.50%, 12/31/27<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1051884 |
| &nbsp;&nbsp;&nbsp; Node AcquiCo GmbH, EUR Term Loan, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 3.50%), 5.67%, 12/08/32<br>| &nbsp;&nbsp;&nbsp; EUR3,000 | 3527392 |
| &nbsp;&nbsp;&nbsp; Proampac PG Borrower LLC, 2026 EUR <br> Term Loan B, (3-mo. EURIBOR at 0.00% <br> Floor + 4.00%), 6.06%, 03/07/33<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2337042 |
| &nbsp;&nbsp;&nbsp; Sword Purchaser LLC, EUR Term Loan B, <br> (1-mo. EURIBOR at 0.00% Floor at <br> 4.25%), 6.15%, 04/11/33<br>| &nbsp;&nbsp;&nbsp; EUR3,559 | 4093276 |
|  |  | 11009594 |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |
| &nbsp;&nbsp;&nbsp; Aenova Holding GmbH, 2025 EUR Repriced <br> Term Loan B, (3-mo. EURIBOR at 0.00% <br> Floor + 3.00%), 5.01%, 08/22/31<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1179095 |
| &nbsp;&nbsp;&nbsp; Boots Group Bidco Ltd. (The), EUR Term <br> Loan, (3-mo. EURIBOR at 0.00% Floor + <br> 3.25%), 5.40%, 08/30/32<br>| &nbsp;&nbsp;&nbsp; EUR3,200 | 3785424 |
| &nbsp;&nbsp;&nbsp; Ceva Sante Animale, 2025 EUR Term Loan <br> B, (3-mo. EURIBOR at 0.00% Floor + <br> 3.00%), 5.13%, 11/08/30<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2360092 |
| &nbsp;&nbsp;&nbsp; Nidda Healthcare Holding GmbH, 2025 EUR <br> Repriced Term Loan B, (3-mo. EURIBOR <br> at 0.00% Floor + 3.50%), 5.52%, <br> 12/09/32<br>| &nbsp;&nbsp;&nbsp; EUR5,696 | 6704181 |
|  |  | 14028792 |
| **Retail — 0.0%** | **Retail — 0.0%** | **Retail — 0.0%** |
| &nbsp;&nbsp;&nbsp; CD&R Firefly Bidco Ltd., 2025 EUR Term <br> Loan, (3-mo. EURIBOR at 0.00% Floor + <br> 3.25%), 5.40%, 04/30/29<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1181103 |
| &nbsp;&nbsp;&nbsp; Peer Holding III B V, 2025 EUR Term Loan <br> B7, (3-mo. EURIBOR at 0.00% Floor + <br> 2.75%), 4.88%, 11/26/31<br>| &nbsp;&nbsp;&nbsp; EUR2,800 | 3294796 |
|  |  | 4475899 |
| **Software — 0.1%** | **Software — 0.1%** | **Software — 0.1%** |
| &nbsp;&nbsp;&nbsp; Boxer Parent Co., Inc., 2025 EUR Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> + 3.50%), 5.65%, 07/30/31<br>| &nbsp;&nbsp;&nbsp; EUR1,965 | 2207725 |
| &nbsp;&nbsp;&nbsp; Cloud Software Group, Inc., 2025 EUR Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> + 3.00%), 5.13%, 08/13/32<br>| &nbsp;&nbsp;&nbsp; EUR4,558 | 5092243 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Software (continued)** | **Software (continued)** | **Software (continued)** |
| &nbsp;&nbsp;&nbsp; Coreweave Compute Acquisition Co. <br> IV LLC, 03/18/32<sup>(i)(l)</sup><br>| &nbsp;&nbsp;&nbsp; 9895 | $9870079 |
| &nbsp;&nbsp;&nbsp; Finastra USA, Inc., 2025 EUR Term Loan, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 4.25%), 6.37%, 09/15/32<br>| &nbsp;&nbsp;&nbsp; EUR2,797 | 3101345 |
| &nbsp;&nbsp;&nbsp; OAK-Eagle Acquireco, Inc., EUR Term Loan <br> B, 03/24/33<sup>(l)</sup><br>| &nbsp;&nbsp;&nbsp; EUR2,500 | 2932305 |
|  |  | 23203697 |
| **Telecommunications — 0.1%** | **Telecommunications — 0.1%** | **Telecommunications — 0.1%** |
| &nbsp;&nbsp;&nbsp; eircom Finco SARL, 2025 EUR Term Loan <br> B6, (1-mo. EURIBOR at 0.00% Floor + <br> 2.75%), 4.71%, 05/15/32<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1177805 |
| &nbsp;&nbsp;&nbsp; MasOrange Finco PLC, 2025 EUR Term <br> Loan B, (6-mo. EURIBOR at 0.00% Floor <br> + 2.25%), 4.38%, 03/25/31<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2345257 |
| &nbsp;&nbsp;&nbsp; Matterhorn Telecom Holding SA, EUR Term <br> Loan B, (3-mo. EURIBOR at 0.00% Floor <br> + 2.50%), 4.61%, 01/30/32<br>| &nbsp;&nbsp;&nbsp; EUR1,362 | 1604154 |
| &nbsp;&nbsp;&nbsp; Odido Holding BV, 2025 EUR Term Loan B2, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 2.90%), 5.03%, 03/30/29<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2359365 |
| &nbsp;&nbsp;&nbsp; Telenet International Finance SARL, 2020 <br> EUR Term Loan AQ, (1-mo. EURIBOR at <br> 0.00% Floor + 2.25%), 4.25%, 04/30/29<br>| &nbsp;&nbsp;&nbsp; EUR2,000 | 2345210 |
| &nbsp;&nbsp;&nbsp; VMED O2 UK Holdco 4 Ltd., 2025 EUR <br> Term Loan AE, (1-mo. EURIBOR at <br> 0.00% Floor + 3.25%), 5.25%, 01/31/33<br>| &nbsp;&nbsp;&nbsp; EUR1,500 | 1649811 |
| &nbsp;&nbsp;&nbsp; Zegona Holdco Ltd., 2026 EUR Repriced <br> Term Loan B, (6-mo. EURIBOR at 0.00% <br> Floor + 2.25%), 4.39%, 07/17/29<br>| &nbsp;&nbsp;&nbsp; EUR1,500 | 1767252 |
|  |  | 13248854 |
| **Transportation — 0.0%** | **Transportation — 0.0%** | **Transportation — 0.0%** |
| &nbsp;&nbsp;&nbsp; Edge Finco PLC, 2025 EUR Term Loan B, <br> (3-mo. EURIBOR at 0.00% Floor + <br> 3.00%), 5.03%, 08/22/31<br>| &nbsp;&nbsp;&nbsp; EUR1,000 | 1175117 |
| **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** | **Trucking & Leasing — 0.0%** |
| &nbsp;&nbsp;&nbsp; Leased & Tenanted Pubs 1 Ltd., GBP 2nd <br> Lien Term Loan, (6-mo. SONIA at 0.00% <br> Floor + 9.38%), 13.34%, 10/31/29<sup>(i)</sup><br>| &nbsp;&nbsp;&nbsp; GBP4,926 | 6368179 |
| **Total Floating Rate Loan Interests — 1.7%** <br>**(Cost: $276,974,080)** | **Total Floating Rate Loan Interests — 1.7%** <br>**(Cost: $276,974,080)** | 280419042 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Beverages — 0.0%** | **Beverages — 0.0%** | **Beverages — 0.0%** |
| New Kleo Holding Co.<sup>(i)</sup> | &nbsp;&nbsp;&nbsp; 586449 | 791528 |
| **Total Common Stocks — 0.0%** <br>**(Cost $4,131,110)** | **Total Common Stocks — 0.0%** <br>**(Cost $4,131,110)** | 791528 |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange Traded Funds — 1.8%** | **Exchange Traded Funds — 1.8%** | **Exchange Traded Funds — 1.8%** |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield Corporate Bond <br> ETF<sup>(f)(q)</sup><br>| &nbsp;&nbsp;&nbsp; 2353270 | 189155843 |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ Investment Grade <br> Corporate Bond ETF<sup>(f)(q)</sup><br>| &nbsp;&nbsp;&nbsp; 1088400 | 118472340 |
|  |  | 307628183 |
| **Total Investment Companies — 1.8%** <br>**(Cost $308,435,224)** | **Total Investment Companies — 1.8%** <br>**(Cost $308,435,224)** | 307628183 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Aerospace & Defense — 0.0%** | **Aerospace & Defense — 0.0%** | **Aerospace & Defense — 0.0%** |
| Boeing Co. (The), 6.00%, 10/15/27<sup>(e)(f)</sup> | &nbsp;&nbsp;&nbsp; 12300 | $888060 |
| **Total Preferred Stocks — 0.0%** <br>**(Cost $615,000)** | **Total Preferred Stocks — 0.0%** <br>**(Cost $615,000)** | 888060 |
| **Total Long-Term Investments — 119.0%** <br>**(Cost: $20,047,192,215)** | **Total Long-Term Investments — 119.0%** <br>**(Cost: $20,047,192,215)** | 20096497770 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 6.2%** | **Money Market Funds — 6.2%** | **Money Market Funds — 6.2%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL <br> Agency Shares, 3.83%<sup>(q)(r)(s)</sup><br>| &nbsp;&nbsp;&nbsp; 1039776281 | 1040088214 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL <br> Agency Shares, 3.61%<sup>(q)(r)</sup><br>| &nbsp;&nbsp;&nbsp; 100000 | 100000 |
| **Total Short-Term Securities — 6.2%** <br>**(Cost: $1,040,141,394)** | **Total Short-Term Securities — 6.2%** <br>**(Cost: $1,040,141,394)** | 1040188214 |
| **Options Purchased — 0.0%** <br>**(Cost: $5,338,764)** | **Options Purchased — 0.0%** <br>**(Cost: $5,338,764)** | 4459647 |
| **Total Investments Before TBA Sales Commitments and** <br> **Options Written — 125.2%** <br>**(Cost: $21,092,672,373)** | **Total Investments Before TBA Sales Commitments and** <br> **Options Written — 125.2%** <br>**(Cost: $21,092,672,373)** | 21141145631 |
|  | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>|  |
| **TBA Sales Commitments**<sup>(o)</sup> | **TBA Sales Commitments**<sup>(o)</sup> | **TBA Sales Commitments**<sup>(o)</sup> |
| **Mortgage-Backed Securities — (9.6)%** | **Mortgage-Backed Securities — (9.6)%** | **Mortgage-Backed Securities — (9.6)%** |
| Uniform Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 05/13/56 | &nbsp;&nbsp;&nbsp; (624239)<br>| (522614787)<br>|
| &nbsp;&nbsp;&nbsp; 3.00%, 05/13/56 | &nbsp;&nbsp;&nbsp; (20700)<br>| (18118555)<br>|
| &nbsp;&nbsp;&nbsp; 3.50%, 05/13/56 | &nbsp;&nbsp;&nbsp; (593600)<br>| (540256937)<br>|
| &nbsp;&nbsp;&nbsp; 4.00%, 05/13/56 | &nbsp;&nbsp;&nbsp; (303293)<br>| (284396466)<br>|
| &nbsp;&nbsp;&nbsp; 5.50%, 05/13/56 | &nbsp;&nbsp;&nbsp; (14800)<br>| (14873621)<br>|
| &nbsp;&nbsp;&nbsp; 6.00%, 05/13/56 | &nbsp;&nbsp;&nbsp; (240800)<br>| (245816473)<br>|
| **Total TBA Sales Commitments — (9.6)%** <br>**(Proceeds: $(1633010133))** | **Total TBA Sales Commitments — (9.6)%** <br>**(Proceeds: $(1633010133))** | (1626076839)<br>|
| **Options Written — (0.1%)** <br>**(Premiums Received: $(18117302))** | **Options Written — (0.1%)** <br>**(Premiums Received: $(18117302))** | (23072033)<br>|
| **Total Investments, Net of TBA Sales Commitments and Options** <br> **Written — 115.5%** <br>**(Cost: $19,441,544,938)** | **Total Investments, Net of TBA Sales Commitments and Options** <br> **Written — 115.5%** <br>**(Cost: $19,441,544,938)** | 19491996759 |
| **Liabilities in Excess of Other Assets — (15.5)%** | **Liabilities in Excess of Other Assets — (15.5)%** | (2605485163)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $16886511596 |

---

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

<sup>(a)</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>(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> This security may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933. 

<sup>(d)</sup> Step coupon security. Coupon rate will either increase (step-up bond) or decrease (step-down bond) at regular intervals until maturity. Interest rate shown reflects the rate currently in effect. 

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

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

<sup>(g)</sup> Payment-in-kind security which may pay interest/dividends in additional par/shares and/or in cash. Rates shown are the current rate and possible payment rates. 

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

<sup>(i)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. 

<sup>(j)</sup> Issuer filed for bankruptcy and/or is in default.

<sup>(k)</sup> Non-income producing security.

<sup>(l)</sup> Represents an unsettled loan commitment at period end. Certain details associated with this purchase are not known prior to the settlement date, including coupon rate. 

<sup>(m)</sup> U.S. dollar denominated security issued by foreign domiciled entity.

<sup>(n)</sup> Zero-coupon bond.

<sup>(o)</sup> Represents or includes a TBA transaction.

<sup>(p)</sup> Rates are discount rates or a range of discount rates as of period end.

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

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

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

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended April 30, 2026 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/25*<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>*04/30/26*<br>| *Shares* <br>*Held at* <br>*04/30/26*<br>| *Income* | &nbsp;&nbsp; *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: In-<br> stitutional, SL Agency <br> Shares<br>| $1088388845 | $— | &nbsp;&nbsp; $(47900969 )<sup>(a)</sup><br>| &nbsp;&nbsp; $(423004)<br>| $23342 | $1040088214 | 1039776281 | $20565354 <br><sup>(b)</sup><br>| $— |
| &nbsp;&nbsp;&nbsp; BlackRock Cash <br> Funds: Treasury, SL <br> Agency Shares<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 | 0 <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; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100000 | 100000 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2874 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield <br> Corporate Bond ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp; 178854824 | 615352210 | &nbsp;&nbsp; (603244105)<br>| &nbsp;&nbsp;&nbsp; 3349524 | (5156610)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 189155843 | 2353270 | &nbsp;&nbsp;&nbsp; 6845035 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ Investment <br> Grade Corporate Bond <br> ETF<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | 389813648 | &nbsp;&nbsp; (270520255)<br>| &nbsp;&nbsp; (455444)<br>| (365609)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 118472340 | 1088400 | &nbsp;&nbsp;&nbsp; 2531269 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  | $2471076 | $(5498877) | $1347816397 |  | $29944532 | $— |

---

&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. 

**Derivative Financial Instruments Outstanding as of Period End**

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | &nbsp;&nbsp; *Number of* <br>*Contracts*<br>| &nbsp;&nbsp; *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| &nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Euro BTP | 441 | 06/08/26 | &nbsp;&nbsp; $60536 | $(183575) |
| &nbsp;&nbsp;&nbsp; Euro BUND | 247 | 06/08/26 | &nbsp;&nbsp; 36341 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (84042) |
| &nbsp;&nbsp;&nbsp; Euro OAT | 245 | 06/08/26 | &nbsp;&nbsp; 34295 | &nbsp;&nbsp;&nbsp;&nbsp; (701844) |
| &nbsp;&nbsp;&nbsp; Euro SCHATZ | 7292 | 06/08/26 | &nbsp;&nbsp; 905035 | &nbsp;&nbsp;&nbsp; (1566763) |
| &nbsp;&nbsp;&nbsp; Short Euro BTP | 622 | 06/08/26 | &nbsp;&nbsp; 77381 | &nbsp;&nbsp;&nbsp;&nbsp; (455471) |
| &nbsp;&nbsp;&nbsp; Long Gilt | 53 | 06/26/26 | &nbsp;&nbsp; 6245 | &nbsp;&nbsp;&nbsp;&nbsp; (138315) |
| &nbsp;&nbsp;&nbsp; 2-Year U.S. Treasury Note | 16180 | 06/30/26 | &nbsp;&nbsp; 3351283 | &nbsp;&nbsp; (15278826) |
| &nbsp;&nbsp;&nbsp; 3-mo. SOFR | 871 | 03/14/28 | &nbsp;&nbsp; 209922 | &nbsp;&nbsp;&nbsp;&nbsp; (631120) |
| &nbsp;&nbsp;&nbsp; 3-mo. SOFR | 871 | 03/20/29 | &nbsp;&nbsp; 209878 | &nbsp;&nbsp;&nbsp;&nbsp; (195410) |
|  |  |  |  | &nbsp;&nbsp; (19235366) |
| Short Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Euro BOBL | 2199 | 06/08/26 | &nbsp;&nbsp; 297960 | &nbsp;&nbsp;&nbsp;&nbsp; (803614) |
| &nbsp;&nbsp;&nbsp; Euro BUXL 30 Year Bond | 117 | 06/08/26 | &nbsp;&nbsp; 14965 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 229618 |
| &nbsp;&nbsp;&nbsp; 10-Year U.S. Treasury Note | 12915 | 06/18/26 | &nbsp;&nbsp; 1427713 | &nbsp;&nbsp;&nbsp; 22437619 |
| &nbsp;&nbsp;&nbsp; 10-Year U.S. Ultra Treasury Note | 1452 | 06/18/26 | &nbsp;&nbsp; 163781 | &nbsp;&nbsp;&nbsp;&nbsp; 3667362 |
| &nbsp;&nbsp;&nbsp; U.S. Long Bond | 1135 | 06/18/26 | &nbsp;&nbsp; 127900 | &nbsp;&nbsp;&nbsp;&nbsp; 5136422 |
| &nbsp;&nbsp;&nbsp; Ultra U.S. Treasury Bond | 320 | 06/18/26 | &nbsp;&nbsp; 36750 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 996769 |
| &nbsp;&nbsp;&nbsp; 5-Year U.S. Treasury Note | 6909 | 06/30/26 | &nbsp;&nbsp; 744930 | &nbsp;&nbsp;&nbsp;&nbsp; 1539508 |
|  |  |  |  | &nbsp;&nbsp;&nbsp; 33203684 |
|  |  |  |  | $13968318 |

---

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| PEN | 42997950 | USD | 12181412 | Citibank N.A. | 05/04/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $76399 |
| BRL | 744217475 | USD | 147828938 | BNP Paribas SA | 05/05/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2463375 |
| BRL | 761639522 | USD | 152490932 | Citibank N.A. | 05/05/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1319707 |
| BRL | 24532227 | USD | 4806000 | Goldman Sachs & Co. | 05/05/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 148204 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| INR | 4100027229 | USD | 43021193 | Citibank N.A. | 05/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $55709 |
| BRL | 139287986 | USD | 27685119 | Citibank N.A. | 06/02/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 240652 |
| USD | 22528420 | IDR | 381978106178 | Barclays Bank PLC | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 483946 |
| USD | 13823798 | INR | 1284230834 | UBS AG | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 353427 |
| USD | 8639874 | PEN | 29760046 | Citibank N.A. | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 175099 |
| USD | 8704622 | THB | 275762425 | Morgan Stanley & Co. International PLC | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 222311 |
| BRL | 522467985 | USD | 102505000 | Citibank N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1877480 |
| BRL | 84974808 | USD | 16840000 | Deutsche Bank Securities Inc. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136890 |
| BRL | 155186348 | USD | 28961322 | HSBC Bank PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2042943 |
| BRL | 355755372 | USD | 67188308 | JPMorgan Chase Bank N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3887105 |
| BRL | 181466650 | USD | 33919000 | Morgan Stanley & Co. International PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2335736 |
| COP | 26959663910 | USD | 7096161 | Bank of America N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 241619 |
| COP | 8615190083 | USD | 2288231 | Citibank N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56619 |
| EUR | 261490841 | USD | 304801072 | HSBC Bank PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2705733 |
| EUR | 90576076 | USD | 105642582 | Morgan Stanley & Co. International PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 872658 |
| MXN | 391086461 | USD | 21720992 | Bank of America N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 586646 |
| MXN | 280251703 | USD | 15600764 | Goldman Sachs & Co. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384841 |
| MXN | 608720550 | USD | 33919000 | Morgan Stanley & Co. International PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 802523 |
| TRY | 332398280 | USD | 6800000 | Barclays Bank PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263195 |
| USD | 7043824 | CHF | 5434984 | Societe Generale | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 55601 |
| USD | 129730698 | EUR | 109795000 | Deutsche Bank Securities Inc. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 614475 |
| USD | 376530590 | EUR | 318717000 | JPMorgan Chase Bank N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1727228 |
| USD | 84222240 | EUR | 71387000 | Morgan Stanley & Co. International PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272882 |
| USD | 241160480 | EUR | 203890000 | UBS AG | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1390849 |
| USD | 68281268 | IDR | 1159484211908 | Citibank N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1393757 |
| USD | 7914074 | INR | 734762415 | Barclays Bank PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212675 |
| USD | 1520108 | JPY | 235200000 | Goldman Sachs & Co. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12570 |
| ZAR | 367280254 | USD | 21720992 | Citibank N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 256603 |
| BRL | 71782385 | USD | 13481000 | Citibank N.A. | 06/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 856935 |
| AUD | 1007609 | USD | 720935 | HSBC Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3837 |
| CZK | 146946915 | USD | 7043412 | Citibank N.A. | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33419 |
| JPY | 139302430 | USD | 878847 | Societe Generale | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14397 |
| TRY | 74509023 | USD | 1569239 | Barclays Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6665 |
| USD | 536513 | CNH | 3646973 | Deutsche Bank Securities Inc. | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 916 |
| USD | 62962435 | COP | 227407723194 | Morgan Stanley & Co. LLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1130566 |
| USD | 24850545 | CZK | 513412007 | HSBC Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125084 |
| USD | 780994 | EUR | 663450 | HSBC Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 623 |
| USD | 17568893 | HUF | 5439478867 | BNP Paribas SA | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 88266 |
| USD | 70926 | HUF | 22053941 | Morgan Stanley & Co. International PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52 |
| USD | 58546622 | IDR | 1004466822189 | BNP Paribas SA | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 616737 |
| USD | 3988048 | MXN | 69361352 | Bank of America N.A. | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 33315 |
| USD | 123412652 | MXN | 2147349296 | Barclays Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 978567 |
| USD | 12058715 | PEN | 41575722 | Citibank N.A. | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 242460 |
| USD | 76660712 | PHP | 4601329271 | Barclays Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1864014 |
| USD | 94671344 | PLN | 340890872 | Barclays Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 635684 |
| USD | 35837 | TWD | 1129085 | HSBC Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 161 |
| USD | 3153986 | UYU | 125225836 | HSBC Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 62371 |
| USD | 154419923 | ZAR | 2556514483 | Bank of America N.A. | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1499480 |
| GBP | 294000 | USD | 396900 | HSBC Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3119 |
| HUF | 10673666903 | USD | 34139983 | JPMorgan Chase Bank N.A. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157478 |
| JPY | 2284358989 | USD | 14422000 | State Street Bank & Trust Company | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 228353 |
| PEN | 77068426 | USD | 21803000 | Citibank N.A. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98002 |
| USD | 9617000 | COP | 34713446264 | BNP Paribas SA | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 182306 |
| USD | 30104407 | EUR | 25585092 | Deutsche Bank Securities Inc. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7770 |
| USD | 12022000 | INR | 1139685600 | JPMorgan Chase Bank N.A. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 83950 |
| USD | 66758905 | MXN | 1162804400 | Goldman Sachs & Co. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 471065 |
| USD | 7223000 | PEN | 24872400 | Deutsche Bank Securities Inc. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154859 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 2470000 | PHP | 148293860 | Goldman Sachs & Co. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $59624 |
| USD | 4973097 | HUF | 1530251702 | Bank of America N.A. | 06/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56554 |
| USD | 17602959 | EUR | 14866492 | BNP Paribas SA | 07/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98741 |
| USD | 376200 | EUR | 317947 | State Street Bank & Trust Company | 07/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1840 |
| COP | 71528852064 | USD | 19247589 | Citibank N.A. | 07/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 96303 |
| NGN | 10363032531 | USD | 6937595 | Citibank N.A. | 07/28/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376196 |
| MXN | 105709500 | USD | 5922603 | BNP Paribas SA | 08/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 75751 |
| MXN | 66671600 | USD | 3633153 | Goldman Sachs & Co. | 08/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 150044 |
| MXN | 79234300 | USD | 4291374 | HSBC Bank PLC | 08/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 204678 |
| MXN | 911189000 | USD | 48388757 | Morgan Stanley & Co. International PLC | 08/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3315526 |
| USD | 256435561 | EUR | 213457051 | BNP Paribas SA | 09/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4544089 |
| USD | 256431292 | EUR | 213457051 | Deutsche Bank Securities Inc. | 09/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4539820 |
| USD | 9822707 | CLP | 8699975443 | Citibank N.A. | 10/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156159 |
| USD | 14364309 | CLP | 12767226768 | Morgan Stanley & Co. LLC | 10/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 178635 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 51103868 |
| PEN | 40788892 | USD | 12198000 | Citibank N.A. | 05/04/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(569945)<br>|
| USD | 23753582 | PEN | 83786842 | Citibank N.A. | 05/04/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (132285)<br>|
| USD | 142198808 | BRL | 744217475 | BNP Paribas SA | 05/05/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8093505)<br>|
| USD | 152634938 | BRL | 761639522 | Citibank N.A. | 05/05/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1175701)<br>|
| USD | 4917658 | BRL | 24532227 | Goldman Sachs & Co. | 05/05/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (36546)<br>|
| USD | 123893080 | BRL | 623324668 | Citibank N.A. | 06/02/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1076937)<br>|
| USD | 6834108 | BRL | 38074868 | State Street Bank & Trust Company | 06/02/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (799501)<br>|
| INR | 1293700136 | USD | 13823798 | HSBC Bank PLC | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (254103)<br>|
| THB | 336246376 | USD | 10546259 | Morgan Stanley & Co. International PLC | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (203493)<br>|
| USD | 17279748 | BRL | 92222015 | BNP Paribas SA | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1178779)<br>|
| USD | 8704622 | BRL | 46890058 | Morgan Stanley & Co. International PLC | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (680571)<br>|
| USD | 17344496 | CZK | 363902924 | Citibank N.A. | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (177939)<br>|
| USD | 8704622 | PLN | 32144681 | BNP Paribas SA | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (162805)<br>|
| USD | 8639874 | PLN | 31675333 | HSBC Bank PLC | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (98079)<br>|
| USD | 15551773 | THB | 505821417 | Barclays Bank PLC | 06/09/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7035)<br>|
| IDR | 19688465000 | USD | 1157627 | Goldman Sachs & Co. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (21853)<br>|
| MXN | 732808199 | USD | 41880000 | HSBC Bank PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (80496)<br>|
| USD | 437057 | AUD | 619000 | Barclays Bank PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8233)<br>|
| USD | 3266984 | AUD | 4549000 | Citibank N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5431)<br>|
| USD | 187633444 | AUD | 265892000 | JPMorgan Chase Bank N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3641306)<br>|
| USD | 10855786 | AUD | 15644000 | Morgan Stanley & Co. International PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (398039)<br>|
| USD | 12996587 | AUD | 18516000 | UBS AG | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (323270)<br>|
| USD | 14480661 | BRL | 77310193 | Bank of America N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (964935)<br>|
| USD | 32566000 | BRL | 172762630 | Citibank N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1949783)<br>|
| USD | 25403974 | BRL | 136124656 | HSBC Bank PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1792006)<br>|
| USD | 33656000 | BRL | 178932124 | UBS AG | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2092370)<br>|
| USD | 3095308 | EUR | 2663000 | Bank of America N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (36315)<br>|
| USD | 109514417 | EUR | 93167000 | Barclays Bank PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (47686)<br>|
| USD | 289594475 | EUR | 246711000 | BNP Paribas SA | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (531600)<br>|
| USD | 8639791 | EUR | 7459000 | HSBC Bank PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (131810)<br>|
| USD | 1927101 | EUR | 1642000 | Morgan Stanley & Co. International PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3851)<br>|
| USD | 2904915325 | EUR | 2519690000 | Societe Generale | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (58178214)<br>|
| USD | 2604398 | GBP | 1963000 | BNP Paribas SA | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66548)<br>|
| USD | 5382280 | GBP | 4048000 | JPMorgan Chase Bank N.A. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (125611)<br>|
| USD | 603388704 | GBP | 454306000 | State Street Bank & Trust Company | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14760457)<br>|
| USD | 2571230 | GBP | 1908000 | UBS AG | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (24880)<br>|
| USD | 8515706 | JPY | 1344785000 | UBS AG | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (103825)<br>|
| USD | 13588102 | SGD | 17264000 | State Street Bank & Trust Company | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16869)<br>|
| USD | 2113171 | TRY | 102334625 | HSBC Bank PLC | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (61357)<br>|
| ZAR | 410573963 | USD | 24669713 | Goldman Sachs & Co. | 06/17/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (101477)<br>|
| USD | 68791279 | AUD | 96300000 | Barclays Bank PLC | 06/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (482696)<br>|
| USD | 3499089 | AUD | 4900000 | JPMorgan Chase Bank N.A. | 06/18/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25755)<br>|

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Forward Foreign Currency Exchange Contracts (continued)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| CLP | 345321800 | USD | 388334 | Barclays Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4542)<br>|
| COP | 654463938 | USD | 180585 | Morgan Stanley & Co. LLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2637)<br>|
| EGP | 187190884 | USD | 3692128 | Citibank N.A. | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (286293)<br>|
| MXN | 3875350 | USD | 222757 | HSBC Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1799)<br>|
| PHP | 132033044 | USD | 2171977 | Citibank N.A. | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25720)<br>|
| USD | 260855 | BRL | 1311113 | Bank of America N.A. | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (790)<br>|
| USD | 1307 | GBP | 967 | Barclays Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (8)<br>|
| USD | 8145226 | IDR | 141392969874 | Barclays Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9228)<br>|
| USD | 61708 | TRY | 2929970 | Barclays Bank PLC | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (262)<br>|
| ZAR | 1713262 | USD | 103712 | State Street Bank & Trust Company | 06/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1232)<br>|
| CHF | 9761313 | USD | 12566000 | HSBC Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5623)<br>|
| CLP | 40771135040 | USD | 46304000 | HSBC Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (990850)<br>|
| CNH | 341062036 | USD | 50156406 | Citibank N.A. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (60692)<br>|
| CZK | 250483796 | USD | 12079175 | HSBC Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15804)<br>|
| EUR | 6418100 | HUF | 2357522806 | HSBC Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (25541)<br>|
| IDR | 810317405865 | USD | 47222670 | Citibank N.A. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (494692)<br>|
| INR | 667402195 | USD | 7121000 | Barclays Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (130054)<br>|
| KRW | 8519466438 | USD | 5793900 | Barclays Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3606)<br>|
| MXN | 752373009 | USD | 43150853 | Barclays Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (260422)<br>|
| MYR | 355441058 | USD | 90153974 | Barclays Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (483420)<br>|
| PLN | 173489882 | USD | 47892307 | Deutsche Bank Securities Inc. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (34850)<br>|
| RON | 45782948 | USD | 10507424 | Deutsche Bank Securities Inc. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (200941)<br>|
| THB | 1932238000 | USD | 60077357 | HSBC Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (568426)<br>|
| USD | 7810580 | AUD | 10928107 | Morgan Stanley & Co. International PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49690)<br>|
| USD | 12513000 | CAD | 17056007 | Goldman Sachs & Co. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71834)<br>|
| USD | 6047000 | CHF | 4754766 | Barclays Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (71199)<br>|
| USD | 6354385 | INR | 606907311 | Barclays Bank PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2886)<br>|
| USD | 5721615 | INR | 547615772 | Morgan Stanley & Co. International PLC | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (14585)<br>|
| ZAR | 1279499999 | USD | 77172901 | Bank of America N.A. | 06/24/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (649990)<br>|
| INR | 690157650 | USD | 7223000 | Citibank N.A. | 07/06/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1512)<br>|
| USD | 14763676 | COP | 56322230879 | State Street Bank & Trust Company | 07/07/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (503130)<br>|
| INR | 320381131 | USD | 3399630 | Barclays Bank PLC | 07/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (50582)<br>|
| INR | 585826491 | USD | 6212370 | Goldman Sachs & Co. | 07/13/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (88535)<br>|
| EUR | 1548741 | USD | 1833776 | HSBC Bank PLC | 07/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (10246)<br>|
| USD | 513433 | EUR | 438147 | Deutsche Bank Securities Inc. | 07/16/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2453)<br>|
| ARS | 4192750980 | USD | 2920760 | Citibank N.A. | 07/22/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (230660)<br>|
| EGP | 435306246 | USD | 8160972 | Citibank N.A. | 07/27/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (352391)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (106331022)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(55227154)<br>|

---

**OTC Barrier Options Purchased** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Type of Option* | *Counterparty* | *Expiration* <br>*Date*<br>| *Exercise Price* | *Exercise Price* | *Barrier* <br>*Price/Range* | *Barrier* <br>*Price/Range* | *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* |
| Put |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; USD Currency | One Touch | Bank of America N.A. | 07/09/26 | CNH | 6.65 | CNH | 6.65 | USD | 1202 | $53975 |
| &nbsp;&nbsp;&nbsp; AUD Currency | One Touch | Deutsche Bank AG | 07/16/26 | USD | 0.68 | USD | 0.68 | AUD | 1671 | &nbsp;&nbsp;&nbsp; 107587 |
|  |  |  |  |  |  |  |  |  |  | $161562 |

---

**OTC Currency Options Purchased** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Counterparty* | *Expiration* <br>*Date*<br>| *Exercise Price* | *Exercise Price* | *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; USD Currency | Barclays Bank PLC | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; BRL | 5.65 | USD | 35595 | $35 |
| &nbsp;&nbsp;&nbsp; USD Currency | Barclays Bank PLC | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; MXN | 18.05 | USD | 35595 | 2171 |
| &nbsp;&nbsp;&nbsp; USD Currency | Deutsche Bank AG | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; ZAR | 17.50 | USD | 2392 | 378 |
| &nbsp;&nbsp;&nbsp; USD Currency | BNP Paribas S.A. | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; ZAR | 17.50 | USD | 14185 | 17930 |
| &nbsp;&nbsp;&nbsp; USD Currency | Citibank N.A. | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; THB | 32.50 | USD | 7181 | 63624 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**OTC Currency Options Purchased (continued)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Counterparty* | *Expiration*<br> *Date*<br>| *Exercise Price* | *Exercise Price* | *Notional*<br> *Amount (000)* | *Notional*<br> *Amount (000)* | *Value* |
| &nbsp;&nbsp;&nbsp; USD Currency | Citibank N.A. | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; THB | 32.70 | USD | 14431 | $92488 |
| &nbsp;&nbsp;&nbsp; USD Currency | BNP Paribas S.A. | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; BRL | 5.10 | USD | 14426 | 191837 |
|  |  |  |  |  |  |  | 368463 |
| Put |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; AUD Currency | JPMorgan Chase Bank N.A. | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; USD | 0.71 | AUD | 20067 | 4132 |
| &nbsp;&nbsp;&nbsp; USD Currency | HSBC Bank PLC | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; IDR | &nbsp;&nbsp; 16400.00 | USD | 13348 | 13 |
| &nbsp;&nbsp;&nbsp; USD Currency | UBS AG | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; ZAR | 16.80 | USD | 9567 | 114412 |
| &nbsp;&nbsp;&nbsp; EUR Currency | Barclays Bank PLC | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; HUF | 373.00 | EUR | 8201 | 232331 |
| &nbsp;&nbsp;&nbsp; USD Currency | Deutsche Bank AG | &nbsp;&nbsp; 06/03/26 | &nbsp;&nbsp; CLP | 875.00 | USD | 9589 | 52979 |
| &nbsp;&nbsp;&nbsp; EUR Currency | Bank of America N.A. | &nbsp;&nbsp; 06/22/26 | &nbsp;&nbsp; HUF | 365.00 | EUR | 8177 | 109962 |
|  |  |  |  |  |  |  | 513829 |
|  |  |  |  |  |  |  | $882292 |

---

**OTC Interest Rate Swaptions Purchased** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Paid by the Fund* | *Paid by the Fund* | *Received by the Fund* | *Received by the Fund* |  |  |  |  |  |  |
| *Description* | *Rate* | *Frequency* | *Rate* | *Frequency* | *Counterparty* | *Expiration* <br>*Date*<br>| *Exercise* <br>*Rate*<br>| &nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |  |  |  |
| 1-Year Interest Rate Swap, 06/10/27 | &nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.00% | Annual | Goldman Sachs Inter-<br> national<br>| 06/08/26 | 3.00 | USD | 618591 | $12001 |
| 1-Year Interest Rate Swap, 04/24/29 | &nbsp;&nbsp; 1-day SONIA, <br> 3.73%<br>| Annual | 4.15% | Annual | Goldman Sachs Inter-<br> national<br>| 04/24/28 | 4.15 | GBP | 491297 | 3403792 |
|  |  |  |  |  |  |  |  |  |  | $3415793 |

---

**Exchange-Traded Options Written** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Exercise* <br>*Price* | *Exercise* <br>*Price* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; USD | 80.00 | USD | 32 | &nbsp;&nbsp; $(140)<br>|
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ Investment Grade Corporate Bond ETF | &nbsp;&nbsp; 2896 | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; USD | 110.00 | USD | 31523 | &nbsp;&nbsp; (31030)<br>|
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp; 15000 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; USD | 81.00 | USD | 120570 | &nbsp;&nbsp; (88378)<br>|
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ Investment Grade Corporate Bond ETF | &nbsp;&nbsp; 11838 | &nbsp;&nbsp; 06/18/26 | &nbsp;&nbsp; USD | 111.00 | USD | 128857 | &nbsp;&nbsp; (203474)<br>|
|  |  |  |  |  |  |  | &nbsp;&nbsp; $(323022)<br>|

---

**OTC Currency Options Written** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Counterparty* | *Expiration* <br>*Date*<br>| *Exercise Price* | *Exercise Price* | *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; USD Currency | Bank of America N.A. | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; ZAR | 16.74 | USD | 35607 | $(118500)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | Barclays Bank PLC | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; BRL | 5.65 | USD | 35595 | (36)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; MXN | 18.05 | USD | 35595 | (2171)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | UBS AG | &nbsp;&nbsp; 05/06/26 | &nbsp;&nbsp; ZAR | 17.50 | USD | 2392 | (378)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | HSBC Bank PLC | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; ZAR | 17.50 | USD | 14185 | (17930)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | HSBC Bank PLC | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; CLP | 905.00 | USD | 9457 | (87260)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | BNP Paribas S.A. | &nbsp;&nbsp; 06/25/26 | &nbsp;&nbsp; BRL | 5.30 | USD | 14426 | (82546)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 06/29/26 | &nbsp;&nbsp; BRL | 5.35 | USD | 23895 | (123561)<br>|
|  |  |  |  |  |  |  | (432382)<br>|
| Put |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; USD Currency | Barclays Bank PLC | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; BRL | 5.15 | USD | 35595 | (1420468)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | Barclays Bank PLC | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; IDR | &nbsp;&nbsp; 16400.00 | USD | 13348 | (13)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | Barclays Bank PLC | &nbsp;&nbsp; 05/04/26 | &nbsp;&nbsp; COP | &nbsp;&nbsp; 3520.00 | USD | 8899 | (178)<br>|
| &nbsp;&nbsp;&nbsp; EUR Currency | Barclays Bank PLC | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; HUF | 365.00 | EUR | 12302 | (97743)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | Barclays Bank PLC | &nbsp;&nbsp; 05/12/26 | &nbsp;&nbsp; HUF | 320.00 | USD | 7181 | (229411)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 05/14/26 | &nbsp;&nbsp; ZAR | 16.30 | USD | 40802 | (81726)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | UBS AG | &nbsp;&nbsp; 05/14/26 | &nbsp;&nbsp; MXN | 17.55 | USD | 40708 | (382981)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | HSBC Bank PLC | &nbsp;&nbsp; 05/15/26 | &nbsp;&nbsp; CLP | 905.00 | USD | 9457 | (141940)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | Bank of America N.A. | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; CLP | 890.00 | USD | 9609 | (82666)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | HSBC Bank PLC | &nbsp;&nbsp; 05/22/26 | &nbsp;&nbsp; INR | 94.00 | USD | 7209 | (11570)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; MXN | 17.32 | USD | 67837 | (537812)<br>|
| &nbsp;&nbsp;&nbsp; USD Currency | Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 06/24/26 | &nbsp;&nbsp; BRL | 5.11 | USD | 67837 | (2135170)<br>|

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**OTC Currency Options Written (continued)**

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Counterparty* | *Expiration*<br> *Date*<br>| *Exercise Price* | *Exercise Price* | *Notional*<br> *Amount (000)* | *Notional*<br> *Amount (000)* | *Value* |
| &nbsp;&nbsp;&nbsp; USD Currency | Morgan Stanley & Co. International PLC | &nbsp;&nbsp; 06/29/26 | &nbsp;&nbsp; BRL | 5.35 | USD | 23895 | $(1673534)<br>|
| &nbsp;&nbsp;&nbsp; AUD Currency | BNP Paribas S.A. | &nbsp;&nbsp; 07/16/26 | &nbsp;&nbsp; USD | 0.68 | AUD | 33420 | (71316)<br>|
|  |  |  |  |  |  |  | (6866528)<br>|
|  |  |  |  |  |  |  | $(7298910)<br>|

---

**OTC Credit Default Swaptions Written** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Paid by the Fund* | *Received by the Fund* |  |  | Expiration | Credit | Exercise | Notional | Notional |  |
| *Description* | *Rate/Reference* | *Rate/Reference* | *Frequency* | *Counterparty* | *Date* | *Rating*<sup>(a)</sup> <br>| *Price* | *Amount (000)*<sup>(b)</sup>  | *Amount (000)*<sup>(b)</sup>  | *Value* |
| Call |  |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Bought Protection on <br> 5-Year Credit <br> Default Swap, <br> 12/20/30<br>| ITRAXX.XO.44.V1 | 5.00% | Quarterly | JPMorgan Chase Bank <br> N.A.<br>| 06/17/26 | N/R | EUR 3.00 | EUR | 37026 | $(838181) |

---

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

<sup>(a)</sup> Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

<sup>(b)</sup> The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement.

**OTC Interest Rate Swaptions Written** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Paid by the Fund* | *Paid by the Fund* | *Received by the Fund* | *Received by the Fund* | *Counterparty* | *Expiration* <br>*Date* | *Exercise* <br>*Rate* | *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* |
| *Description* | *Rate* | *Frequency* | *Rate* | *Frequency* | *Counterparty* | *Expiration* <br>*Date* | *Exercise* <br>*Rate* | *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |  |  |  |
| 1-Year Interest Rate Swap, <br> 06/10/27<br>| 2.50% | Annual | 1-day SOFR, <br> 3.66%<br>| Annual | Goldman Sachs Inter-<br> national<br>| 06/08/26 | 2.50 | USD | 618591 | $(1782)<br>|
| 1-Year Interest Rate Swap, <br> 04/24/29<br>| 3.65% | Annual | 1-day SONIA, <br> 3.73%<br>| Annual | Goldman Sachs Inter-<br> national<br>| 04/24/28 | 3.65 | GBP | 491297 | (1961774)<br>|
|  |  |  |  |  |  |  |  |  |  | (1963556)<br>|
| Put |  |  |  |  |  |  |  |  |  |  |
| 1-Year Interest Rate Swap, <br> 06/10/27<br>| &nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.50% | Annual | Goldman Sachs Inter-<br> national<br>| 06/08/26 | 3.50 | USD | 618591 | (1575186)<br>|
| 2-Year Interest Rate Swap, <br> 07/04/28<br>| &nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 4.00% | Annual | Deutsche Bank AG | 07/02/26 | 4.00 | USD | 700000 | (686693)<br>|
| 2-Year Interest Rate Swap, <br> 09/16/28<br>| &nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.80% | Annual | Deutsche Bank AG | 09/14/26 | 3.80 | USD | 383134 | (1370712)<br>|
| 2-Year Interest Rate Swap, <br> 10/16/28<br>| &nbsp;&nbsp; 6-mo. EURI-<br> BOR, 2.52%<br>| Annual | 3.40% | Semi-Annual | Citibank N.A. | 10/14/26 | 3.40 | EUR | 422244 | (1142147)<br>|
| 2-Year Interest Rate Swap, <br> 10/17/28<br>| &nbsp;&nbsp; 6-mo. EURI-<br> BOR, 2.52%<br>| Annual | 3.31% | Semi-Annual | Citibank N.A. | 10/15/26 | 3.31 | EUR | 284746 | (890164)<br>|
| 2-Year Interest Rate Swap, <br> 10/23/28<br>| &nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.85% | Annual | Goldman Sachs Inter-<br> national<br>| 10/21/26 | 3.85 | USD | 630344 | (2336105)<br>|
| 2-Year Interest Rate Swap, <br> 12/10/29<br>| &nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 4.00% | Annual | Deutsche Bank AG | 12/08/27 | 4.00 | USD | 260459 | (1584275)<br>|
| 2-Year Interest Rate Swap, <br> 12/18/29<br>| &nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 4.50% | Annual | Deutsche Bank AG | 12/16/27 | 4.50 | USD | 402864 | (1451491)<br>|
| 1-Year Interest Rate Swap, <br> 04/24/29<br>| &nbsp;&nbsp; 1-day SONIA, <br> 3.73%<br>| Annual | 5.20% | Annual | Goldman Sachs Inter-<br> national<br>| 04/24/28 | 5.20 | GBP | 491297 | (1611591)<br>|
|  |  |  |  |  |  |  |  |  |  | (12648364)<br>|
|  |  |  |  |  |  |  |  |  |  | $(14611920)<br>|

---

**Centrally Cleared Credit Default Swaps — Buy Protection** 

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Received* <br>*by the Fund*<br>| &nbsp;&nbsp;&nbsp; *Payment* <br>*Frequency*<br>| &nbsp;&nbsp;&nbsp; *Termination* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* | &nbsp;&nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Received)*<br>| &nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| CDX.NA.HY.44.V2 | 5.00<br> %<br>| Quarterly | 06/20/30 | USD | 14065 | $(1154141) | $(821532) | $(332609) |
| iTraxx.XO.44.V1 | 5.00 | Quarterly | 12/20/30 | EUR | 27428 | (3340116) | (2852450) | (487666) |
| Republic of Philippines | 1.00 | Quarterly | 06/20/31 | USD | 2500 | (27802) | (26198) | (1604) |
|  |  |  |  |  |  | $(4522059) | $(3700180) | $(821879) |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Centrally Cleared Credit Default Swaps — Sell Protection** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Received* <br>*by the Fund*<br>| &nbsp;&nbsp;&nbsp; *Payment* <br>*Frequency*<br>| &nbsp;&nbsp;&nbsp; *Termination* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Credit* <br>*Rating*<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<sup>(b)</sup>  | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)*<sup>(b)</sup>  | *Value* | &nbsp;&nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Received)*<br>| &nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| CDX.NA.HY.45.V2 | 5.00<br> %<br>| Quarterly | 12/20/30 | B- | USD | 131083 | $10336433 | $8954301 | $1382132 |
| iTraxx.XO.42.V4 | 5.00 | Quarterly | 12/20/29 | CCC | EUR | 10304 | 1168659 | 693256 | 475403 |
|  |  |  |  |  |  |  | $11505092 | $9647557 | $1857535 |

---

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

<sup>(a)</sup> Using the rating of the issuer or the underlying securities of the index, as applicable, provided by S&P Global Ratings.

<sup>(b)</sup> The maximum potential amount the Fund may pay should a negative credit event take place as defined under the terms of the agreement.

**Centrally Cleared Interest Rate Swaps** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Effective* <br>*Date* | *Termination* <br>*Date* |  | *Notional* <br>*Amount* <br>*(000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)* | *Unrealized* <br>*Appreciation* <br>*(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Effective* <br>*Date* | *Termination* <br>*Date* |  | *Notional* <br>*Amount* <br>*(000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)* | *Unrealized* <br>*Appreciation* <br>*(Depreciation)* |
| &nbsp;&nbsp;&nbsp; 28-day MXIBTIIE, <br> 7.02%<br>| Monthly | 7.73% | Monthly | N/A | &nbsp;&nbsp; 05/11/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 93107 | &nbsp;&nbsp; $4307 | &nbsp;&nbsp; $(1)<br>| &nbsp;&nbsp; $4308 |
| &nbsp;&nbsp;&nbsp; 28-day MXIBTIIE, <br> 7.02%<br>| Monthly | 7.73% | Monthly | N/A | &nbsp;&nbsp; 05/11/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 232698 | &nbsp;&nbsp; 10716 | &nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; 10718 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.66% | Monthly | N/A | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 116342 | &nbsp;&nbsp; 10282 | &nbsp;&nbsp; — | &nbsp;&nbsp; 10282 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.72% | Monthly | N/A | &nbsp;&nbsp; 06/01/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 46551 | &nbsp;&nbsp; 4347 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 4346 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.69% | Monthly | N/A | &nbsp;&nbsp; 06/26/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 31945 | &nbsp;&nbsp; 4289 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4289 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.49% | Monthly | N/A | &nbsp;&nbsp; 08/04/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 63784 | &nbsp;&nbsp; 9827 | &nbsp;&nbsp; — | &nbsp;&nbsp; 9827 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.31% | Monthly | N/A | &nbsp;&nbsp; 08/26/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 75922 | &nbsp;&nbsp; 11532 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 11530 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.30% | Monthly | N/A | &nbsp;&nbsp; 08/27/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 11621 | &nbsp;&nbsp; 1742 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1742 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.29% | Monthly | N/A | &nbsp;&nbsp; 08/31/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 81893 | &nbsp;&nbsp; 12081 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 12078 |
| 6.80% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.77%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/05/26 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 40192 | &nbsp;&nbsp; 831 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 829 |
| 6.91% | Monthly | &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | N/A | &nbsp;&nbsp; 09/11/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 1300569 | &nbsp;&nbsp; (86085)<br>| &nbsp;&nbsp; 53 | &nbsp;&nbsp; (86138)<br>|
| 4.18% | At Termination | &nbsp;&nbsp;&nbsp; 3-mo. WIBOR, <br> 3.84%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 2348 | &nbsp;&nbsp; (14275)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (14275)<br>|
| 4.19% | At Termination | &nbsp;&nbsp;&nbsp; 3-mo. WIBOR, <br> 3.84%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 15339 | &nbsp;&nbsp; (93266)<br>| &nbsp;&nbsp; 4 | &nbsp;&nbsp; (93270)<br>|
| 4.21% | At Termination | &nbsp;&nbsp;&nbsp; 3-mo. WIBOR, <br> 3.84%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 25718 | &nbsp;&nbsp; (157773)<br>| &nbsp;&nbsp; 9 | &nbsp;&nbsp; (157782)<br>|
| 4.22% | At Termination | &nbsp;&nbsp;&nbsp; 3-mo. WIBOR, <br> 3.84%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 12887 | &nbsp;&nbsp; (79583)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; (79588)<br>|
| 4.27% | At Termination | &nbsp;&nbsp;&nbsp; 3-mo. WIBOR, <br> 3.84%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 16545 | &nbsp;&nbsp; (104400)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; (104405)<br>|
| 4.31% | At Termination | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 12858 | &nbsp;&nbsp; (82892)<br>| &nbsp;&nbsp; 4 | &nbsp;&nbsp; (82896)<br>|
| 6.81% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.77%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 140092 | &nbsp;&nbsp; 4532 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 4523 |
| 6.81% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.77%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 21443 | &nbsp;&nbsp; 705 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 702 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Centrally Cleared Interest Rate Swaps (continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| 6.82% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 151111 | &nbsp;&nbsp; $4740 | &nbsp;&nbsp; $10 | &nbsp;&nbsp; $4730 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.16% | Monthly | N/A | &nbsp;&nbsp; 09/17/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 15605 | &nbsp;&nbsp; 1954 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 1952 |
| 3.43% | Annual | &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | N/A | &nbsp;&nbsp; 10/03/26 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 160000 | &nbsp;&nbsp; 595078 | &nbsp;&nbsp; 2192 | &nbsp;&nbsp; 592886 |
| 6.96% | Monthly | &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | N/A | &nbsp;&nbsp; 10/19/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 310096 | &nbsp;&nbsp; (32237)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; (32250)<br>|
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| At Termination | 4.17% | At Termination | N/A | &nbsp;&nbsp; 10/23/26 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 1786 | &nbsp;&nbsp; 7148 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 7146 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| At Termination | 4.21% | At Termination | N/A | &nbsp;&nbsp; 10/27/26 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 3655 | &nbsp;&nbsp; 16428 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 16425 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 6.92% | Monthly | N/A | &nbsp;&nbsp; 10/28/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 117490 | &nbsp;&nbsp; 10869 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 10863 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.62% | Monthly | N/A | &nbsp;&nbsp; 11/18/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 24901 | &nbsp;&nbsp; 8690 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 8688 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 9.26% | Monthly | N/A | &nbsp;&nbsp; 11/18/26 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 62232 | &nbsp;&nbsp; 57363 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 57360 |
| 3.91% | At Termination | &nbsp;&nbsp;&nbsp; 3-mo. WIBOR, <br> 3.84%<br>| Quarterly | N/A | &nbsp;&nbsp; 12/17/26 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 31172 | &nbsp;&nbsp; (77740)<br>| &nbsp;&nbsp; 17 | &nbsp;&nbsp; (77757)<br>|
| 6.64% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 12/17/26 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 675143 | &nbsp;&nbsp; 138806 | &nbsp;&nbsp; 77 | &nbsp;&nbsp; 138729 |
| 6.66% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 12/17/26 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 77713 | &nbsp;&nbsp; 15348 | &nbsp;&nbsp; 9 | &nbsp;&nbsp; 15339 |
| 13.70% | At Termination | &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | N/A | &nbsp;&nbsp; 01/04/27 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 8432 | &nbsp;&nbsp; 9924 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 9922 |
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.78% | At Termination | N/A | &nbsp;&nbsp; 01/04/27 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 2479 | &nbsp;&nbsp; (2353)<br>| &nbsp;&nbsp; 1 | &nbsp;&nbsp; (2354)<br>|
| 13.79% | At Termination | &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | N/A | &nbsp;&nbsp; 01/04/27 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 18413 | &nbsp;&nbsp; 17162 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 17156 |
| 13.84% | At Termination | &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | N/A | &nbsp;&nbsp; 01/04/27 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 17389 | &nbsp;&nbsp; 17728 | &nbsp;&nbsp; 10 | &nbsp;&nbsp; 17718 |
| 13.88% | At Termination | &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | N/A | &nbsp;&nbsp; 01/04/27 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 158199 | &nbsp;&nbsp; 183493 | &nbsp;&nbsp; 134 | &nbsp;&nbsp; 183359 |
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 6.50% | Annual | N/A | &nbsp;&nbsp; 03/19/27 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 817826 | &nbsp;&nbsp; 274 | &nbsp;&nbsp; 3 | &nbsp;&nbsp; 271 |
| &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | 7.42% | Quarterly | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/27 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 457499 | &nbsp;&nbsp; (5674)<br>| &nbsp;&nbsp; 89 | &nbsp;&nbsp; (5763)<br>|
| 3.96% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 09/17/27 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 3271 | &nbsp;&nbsp; (13669)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; (13671)<br>|
| 3.97% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 09/17/27 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 35825 | &nbsp;&nbsp; (151003)<br>| &nbsp;&nbsp; 31 | &nbsp;&nbsp; (151034)<br>|
| 3.99% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 09/17/27 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 21367 | &nbsp;&nbsp; (92338)<br>| &nbsp;&nbsp; 19 | &nbsp;&nbsp; (92357)<br>|
| 4.03% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 09/17/27 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 17951 | &nbsp;&nbsp; (81398)<br>| &nbsp;&nbsp; 16 | &nbsp;&nbsp; (81414)<br>|
| 4.04% | Annual | &nbsp;&nbsp;&nbsp; 3-mo. WIBOR, <br> 3.84%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/27 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 9266 | &nbsp;&nbsp; (40919)<br>| &nbsp;&nbsp; (409)<br>| &nbsp;&nbsp; (40510)<br>|
| 4.05% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 09/17/27 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 17911 | &nbsp;&nbsp; (82867)<br>| &nbsp;&nbsp; 16 | &nbsp;&nbsp; (82883)<br>|
| 6.72% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.77%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/27 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 31548 | &nbsp;&nbsp; 16653 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 16647 |
| 6.72% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/27 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 4829 | &nbsp;&nbsp; 2552 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 2551 |
| 6.72% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 09/17/27 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 34030 | &nbsp;&nbsp; 17969 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 17962 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Centrally Cleared Interest Rate Swaps (continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 4.20% | Annual | N/A | &nbsp;&nbsp; 10/23/27 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 930 | &nbsp;&nbsp; $7886 | &nbsp;&nbsp; $3 | &nbsp;&nbsp; $7883 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.92% | Annual | N/A | &nbsp;&nbsp; 11/03/27 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 479 | &nbsp;&nbsp; 1544 | &nbsp;&nbsp; 1 | &nbsp;&nbsp; 1543 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.95% | Annual | N/A | &nbsp;&nbsp; 11/03/27 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 479 | &nbsp;&nbsp; 1825 | &nbsp;&nbsp; 2 | &nbsp;&nbsp; 1823 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.99% | Annual | N/A | &nbsp;&nbsp; 11/03/27 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 957 | &nbsp;&nbsp; 4306 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 4302 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.84% | Annual | N/A | &nbsp;&nbsp; 11/17/27 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 2226 | &nbsp;&nbsp; 4093 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 4085 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| At Termination | 3.23% | At Termination | 12/11/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 12/11/27 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 307090 | &nbsp;&nbsp; (1573787)<br>| &nbsp;&nbsp; 556 | &nbsp;&nbsp; (1574343)<br>|
| 3.90% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 12/17/27 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 52561 | &nbsp;&nbsp; 109898 | &nbsp;&nbsp; 56 | &nbsp;&nbsp; 109842 |
| 3.90% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 12/17/27 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 20779 | &nbsp;&nbsp; 43938 | &nbsp;&nbsp; 22 | &nbsp;&nbsp; 43916 |
| 4.02% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 12/17/27 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 22364 | &nbsp;&nbsp; 32798 | &nbsp;&nbsp; 24 | &nbsp;&nbsp; 32774 |
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 6.15% | Annual | N/A | &nbsp;&nbsp; 12/17/27 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 1407861 | &nbsp;&nbsp; (22804)<br>| &nbsp;&nbsp; 16 | &nbsp;&nbsp; (22820)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 6.17% | Annual | N/A | &nbsp;&nbsp; 12/17/27 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 8131720 | &nbsp;&nbsp; (117330)<br>| &nbsp;&nbsp; 94 | &nbsp;&nbsp; (117424)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 6.18% | Annual | N/A | &nbsp;&nbsp; 12/17/27 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 1192205 | &nbsp;&nbsp; (16830)<br>| &nbsp;&nbsp; 14 | &nbsp;&nbsp; (16844)<br>|
| 6.53% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 12/17/27 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 186800 | &nbsp;&nbsp; 154164 | &nbsp;&nbsp; 42 | &nbsp;&nbsp; 154122 |
| 6.55% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 12/17/27 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 29606 | &nbsp;&nbsp; 23904 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 23898 |
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.31% | At Termination | N/A | &nbsp;&nbsp; 01/03/28 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 216190 | &nbsp;&nbsp; (338039)<br>| &nbsp;&nbsp; 186 | &nbsp;&nbsp; (338225)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.36% | At Termination | N/A | &nbsp;&nbsp; 01/03/28 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 216190 | &nbsp;&nbsp; (301988)<br>| &nbsp;&nbsp; 187 | &nbsp;&nbsp; (302175)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.38% | At Termination | N/A | &nbsp;&nbsp; 01/03/28 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 550000 | &nbsp;&nbsp; (726223)<br>| &nbsp;&nbsp; 481 | &nbsp;&nbsp; (726704)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.40% | At Termination | N/A | &nbsp;&nbsp; 01/03/28 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 515620 | &nbsp;&nbsp; (652794)<br>| &nbsp;&nbsp; 448 | &nbsp;&nbsp; (653242)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.75% | At Termination | N/A | &nbsp;&nbsp; 01/03/28 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 447566 | &nbsp;&nbsp; (121503)<br>| &nbsp;&nbsp; 387 | &nbsp;&nbsp; (121890)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.75% | At Termination | N/A | &nbsp;&nbsp; 01/03/28 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 149709 | &nbsp;&nbsp; (30282)<br>| &nbsp;&nbsp; 128 | &nbsp;&nbsp; (30410)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.80% | At Termination | N/A | &nbsp;&nbsp; 01/03/28 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 75772 | &nbsp;&nbsp; (6592)<br>| &nbsp;&nbsp; 64 | &nbsp;&nbsp; (6656)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.81% | At Termination | N/A | &nbsp;&nbsp; 01/03/28 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 179998 | &nbsp;&nbsp; (9839)<br>| &nbsp;&nbsp; 153 | &nbsp;&nbsp; (9992)<br>|
| 3.48% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 03/18/28 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 15998 | &nbsp;&nbsp; 74895 | &nbsp;&nbsp; 20 | &nbsp;&nbsp; 74875 |
| 3.49% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 03/18/28 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 6868 | &nbsp;&nbsp; 31883 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 31875 |
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 5.76% | Annual | N/A | &nbsp;&nbsp; 03/18/28 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 396152 | &nbsp;&nbsp; (13510)<br>| &nbsp;&nbsp; 5 | &nbsp;&nbsp; (13515)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 5.87% | Annual | N/A | &nbsp;&nbsp; 03/18/28 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 929643 | &nbsp;&nbsp; (25329)<br>| &nbsp;&nbsp; 13 | &nbsp;&nbsp; (25342)<br>|
| 6.32% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 03/18/28 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 28698 | &nbsp;&nbsp; 34611 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 34603 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.73% | Monthly | N/A | &nbsp;&nbsp; 03/23/28 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 607493 | &nbsp;&nbsp; 325676 | &nbsp;&nbsp; 148 | &nbsp;&nbsp; 325528 |
| 1.32% | Annual | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.73%<br>| Annual | N/A | &nbsp;&nbsp; 03/30/28 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 5650683 | &nbsp;&nbsp; 261 | &nbsp;&nbsp; 161 | &nbsp;&nbsp; 100 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Centrally Cleared Interest Rate Swaps (continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| 1.32% | Annual | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.73%<br>| Annual | N/A | &nbsp;&nbsp; 03/30/28 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 5561834 | &nbsp;&nbsp; $1831 | &nbsp;&nbsp; $158 | &nbsp;&nbsp; $1673 |
| 1.34% | Annual | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.73%<br>| Annual | N/A | &nbsp;&nbsp; 03/30/28 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 5592312 | &nbsp;&nbsp; (12052)<br>| &nbsp;&nbsp; 160 | &nbsp;&nbsp; (12212)<br>|
| 1.38% | Annual | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.73%<br>| Annual | N/A | &nbsp;&nbsp; 03/30/28 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 5164550 | &nbsp;&nbsp; (39714)<br>| &nbsp;&nbsp; 147 | &nbsp;&nbsp; (39861)<br>|
| 1.39% | Annual | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.73%<br>| Annual | N/A | &nbsp;&nbsp; 03/30/28 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 5594929 | &nbsp;&nbsp; (47246)<br>| &nbsp;&nbsp; 159 | &nbsp;&nbsp; (47405)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.25% | Monthly | N/A | &nbsp;&nbsp; 04/07/28 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 743880 | &nbsp;&nbsp; 18980 | &nbsp;&nbsp; 186 | &nbsp;&nbsp; 18794 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.16% | Monthly | N/A | &nbsp;&nbsp; 04/10/28 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 743880 | &nbsp;&nbsp; (51509)<br>| &nbsp;&nbsp; 187 | &nbsp;&nbsp; (51696)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.17% | Monthly | N/A | &nbsp;&nbsp; 04/11/28 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 1600120 | &nbsp;&nbsp; (96406)<br>| &nbsp;&nbsp; 403 | &nbsp;&nbsp; (96809)<br>|
| 4.15% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/28 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 1301220 | &nbsp;&nbsp; 112578 | &nbsp;&nbsp; 296 | &nbsp;&nbsp; 112282 |
| &nbsp;&nbsp;&nbsp; China Fixing Repo <br> Rates 7-day, <br> 1.40%<br>| Quarterly | 1.51% | Quarterly | N/A | &nbsp;&nbsp; 12/17/28 | &nbsp;&nbsp; CNY | &nbsp;&nbsp; 25007 | &nbsp;&nbsp; 3479 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 3444 |
| &nbsp;&nbsp;&nbsp; China Fixing Repo <br> Rates 7-day, <br> 1.40%<br>| Quarterly | 1.59% | Quarterly | N/A | &nbsp;&nbsp; 12/17/28 | &nbsp;&nbsp; CNY | &nbsp;&nbsp; 217444 | &nbsp;&nbsp; 98673 | &nbsp;&nbsp; 299 | &nbsp;&nbsp; 98374 |
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 12.90% | At Termination | N/A | &nbsp;&nbsp; 01/02/29 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 14327 | &nbsp;&nbsp; (66941)<br>| &nbsp;&nbsp; 12 | &nbsp;&nbsp; (66953)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.11% | At Termination | N/A | &nbsp;&nbsp; 01/02/29 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 10990 | &nbsp;&nbsp; (55331)<br>| &nbsp;&nbsp; 19 | &nbsp;&nbsp; (55350)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.12% | At Termination | N/A | &nbsp;&nbsp; 01/02/29 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 415000 | &nbsp;&nbsp; (1765325)<br>| &nbsp;&nbsp; 710 | &nbsp;&nbsp; (1766035)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.15% | At Termination | N/A | &nbsp;&nbsp; 01/02/29 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 1682 | &nbsp;&nbsp; (7971)<br>| &nbsp;&nbsp; 3 | &nbsp;&nbsp; (7974)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.16% | At Termination | N/A | &nbsp;&nbsp; 01/02/29 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 2794 | &nbsp;&nbsp; (8636)<br>| &nbsp;&nbsp; 2 | &nbsp;&nbsp; (8638)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.17% | At Termination | N/A | &nbsp;&nbsp; 01/02/29 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 31286 | &nbsp;&nbsp; (95860)<br>| &nbsp;&nbsp; 26 | &nbsp;&nbsp; (95886)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.23% | At Termination | N/A | &nbsp;&nbsp; 01/02/29 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 148969 | &nbsp;&nbsp; (546615)<br>| &nbsp;&nbsp; 255 | &nbsp;&nbsp; (546870)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.29% | At Termination | N/A | &nbsp;&nbsp; 01/02/29 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 29548 | &nbsp;&nbsp; (78032)<br>| &nbsp;&nbsp; 42 | &nbsp;&nbsp; (78074)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.39% | At Termination | N/A | &nbsp;&nbsp; 01/02/29 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 28819 | &nbsp;&nbsp; (78505)<br>| &nbsp;&nbsp; 50 | &nbsp;&nbsp; (78555)<br>|
| &nbsp;&nbsp;&nbsp; China Fixing Repo <br> Rates 7-day, <br> 1.40%<br>| Quarterly | 1.53% | Quarterly | N/A | &nbsp;&nbsp; 03/18/29 | &nbsp;&nbsp; CNY | &nbsp;&nbsp; 25408 | &nbsp;&nbsp; 5712 | &nbsp;&nbsp; 35 | &nbsp;&nbsp; 5677 |
| &nbsp;&nbsp;&nbsp; China Fixing Repo <br> Rates 7-day, <br> 1.40%<br>| Quarterly | 1.56% | Quarterly | N/A | &nbsp;&nbsp; 03/18/29 | &nbsp;&nbsp; CNY | &nbsp;&nbsp; 11638 | &nbsp;&nbsp; 3712 | &nbsp;&nbsp; 17 | &nbsp;&nbsp; 3695 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 8.08% | Monthly | 4/27/28<sup>(a)</sup> <br>| &nbsp;&nbsp; 04/26/29 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 445578 | &nbsp;&nbsp; (35465)<br>| &nbsp;&nbsp; 46 | &nbsp;&nbsp; (35511)<br>|
| 7.52% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/29 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 457499 | &nbsp;&nbsp; 5793 | &nbsp;&nbsp; 271 | &nbsp;&nbsp; 5522 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.77% | Monthly | N/A | &nbsp;&nbsp; 11/14/29 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 11015 | &nbsp;&nbsp; 2387 | &nbsp;&nbsp; 5 | &nbsp;&nbsp; 2382 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Centrally Cleared Interest Rate Swaps (continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 9.04% | Monthly | N/A | &nbsp;&nbsp; 11/14/29 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 129270 | &nbsp;&nbsp; $329021 | &nbsp;&nbsp; $41 | &nbsp;&nbsp; $328980 |
| 7.78% | Monthly | &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | N/A | &nbsp;&nbsp; 12/14/29 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 13457 | &nbsp;&nbsp; (2750)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; (2756)<br>|
| &nbsp;&nbsp;&nbsp; 1-day MIBOR, <br> 5.34%<br>| Semi-annual | 6.12% | Semi-annual | N/A | &nbsp;&nbsp; 12/18/29 | &nbsp;&nbsp; INR | &nbsp;&nbsp; 560722 | &nbsp;&nbsp; (52745)<br>| &nbsp;&nbsp; 74 | &nbsp;&nbsp; (52819)<br>|
| &nbsp;&nbsp;&nbsp; 1-day MIBOR, <br> 5.34%<br>| Semi-annual | 6.12% | Semi-annual | N/A | &nbsp;&nbsp; 12/18/29 | &nbsp;&nbsp; INR | &nbsp;&nbsp; 560722 | &nbsp;&nbsp; (54192)<br>| &nbsp;&nbsp; 74 | &nbsp;&nbsp; (54266)<br>|
| 8.65% | Monthly | &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | N/A | &nbsp;&nbsp; 02/07/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 41509 | &nbsp;&nbsp; (76727)<br>| &nbsp;&nbsp; 14 | &nbsp;&nbsp; (76741)<br>|
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.92% | Annual | N/A | &nbsp;&nbsp; 02/26/30 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 100000 | &nbsp;&nbsp; 830571 | &nbsp;&nbsp; 740 | &nbsp;&nbsp; 829831 |
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 6.55% | Annual | N/A | &nbsp;&nbsp; 03/19/30 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 336357 | &nbsp;&nbsp; 21037 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 21031 |
| 7.82% | Monthly | &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | N/A | &nbsp;&nbsp; 05/06/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 16609 | &nbsp;&nbsp; (2710)<br>| &nbsp;&nbsp; 8 | &nbsp;&nbsp; (2718)<br>|
| 7.82% | Monthly | &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | N/A | &nbsp;&nbsp; 05/27/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 8914 | &nbsp;&nbsp; (1510)<br>| &nbsp;&nbsp; 4 | &nbsp;&nbsp; (1514)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. EURIBOR, <br> 2.52%<br>| Semi-Annual | 2.20% | Annual | N/A | &nbsp;&nbsp; 06/04/30 | &nbsp;&nbsp; EUR | &nbsp;&nbsp; 17390 | &nbsp;&nbsp; (286918)<br>| &nbsp;&nbsp; 162 | &nbsp;&nbsp; (287080)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.82% | Monthly | N/A | &nbsp;&nbsp; 06/07/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 49435 | &nbsp;&nbsp; 7332 | &nbsp;&nbsp; 21 | &nbsp;&nbsp; 7311 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.82% | Monthly | N/A | &nbsp;&nbsp; 06/07/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 19780 | &nbsp;&nbsp; 2954 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 2946 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.72% | Monthly | N/A | &nbsp;&nbsp; 06/24/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 47541 | &nbsp;&nbsp; (2853)<br>| &nbsp;&nbsp; 21 | &nbsp;&nbsp; (2874)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.67% | Monthly | N/A | &nbsp;&nbsp; 07/30/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 35820 | &nbsp;&nbsp; (7428)<br>| &nbsp;&nbsp; 15 | &nbsp;&nbsp; (7443)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.69% | Monthly | N/A | &nbsp;&nbsp; 07/30/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 312988 | &nbsp;&nbsp; (51592)<br>| &nbsp;&nbsp; 131 | &nbsp;&nbsp; (51723)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.51% | Monthly | N/A | &nbsp;&nbsp; 08/21/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 42637 | &nbsp;&nbsp; (24014)<br>| &nbsp;&nbsp; 18 | &nbsp;&nbsp; (24032)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.49% | Monthly | N/A | &nbsp;&nbsp; 08/22/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 6526 | &nbsp;&nbsp; (4043)<br>| &nbsp;&nbsp; 3 | &nbsp;&nbsp; (4046)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.46% | Monthly | N/A | &nbsp;&nbsp; 08/26/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 45990 | &nbsp;&nbsp; (31381)<br>| &nbsp;&nbsp; 20 | &nbsp;&nbsp; (31401)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.28% | Monthly | N/A | &nbsp;&nbsp; 09/12/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 8763 | &nbsp;&nbsp; (9613)<br>| &nbsp;&nbsp; 4 | &nbsp;&nbsp; (9617)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | 3.70% | Semi-Annual | N/A | &nbsp;&nbsp; 09/17/30 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 89079 | &nbsp;&nbsp; (105947)<br>| &nbsp;&nbsp; 43 | &nbsp;&nbsp; (105990)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | 3.81% | Annual | N/A | &nbsp;&nbsp; 09/17/30 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 69381 | &nbsp;&nbsp; (9328)<br>| &nbsp;&nbsp; 32 | &nbsp;&nbsp; (9360)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 6.27% | Annual | N/A | &nbsp;&nbsp; 09/17/30 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 168542 | &nbsp;&nbsp; 22684 | &nbsp;&nbsp; 6 | &nbsp;&nbsp; 22678 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.29% | Monthly | N/A | &nbsp;&nbsp; 10/03/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 48982 | &nbsp;&nbsp; (54180)<br>| &nbsp;&nbsp; 23 | &nbsp;&nbsp; (54203)<br>|

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Centrally Cleared Interest Rate Swaps (continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| 7.16% | Monthly | &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | N/A | &nbsp;&nbsp; 10/14/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 109946 | &nbsp;&nbsp; $153253 | &nbsp;&nbsp; $49 | &nbsp;&nbsp; $153204 |
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.18% | Monthly | N/A | &nbsp;&nbsp; 10/23/30 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 53705 | &nbsp;&nbsp; (73577)<br>| &nbsp;&nbsp; 24 | &nbsp;&nbsp; (73601)<br>|
| &nbsp;&nbsp;&nbsp; China Fixing Repo <br> Rates 7-day, <br> 1.40%<br>| Quarterly | 1.56% | Quarterly | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; CNY | &nbsp;&nbsp; 17672 | &nbsp;&nbsp; 2276 | &nbsp;&nbsp; 27 | &nbsp;&nbsp; 2249 |
| &nbsp;&nbsp;&nbsp; China Fixing Repo <br> Rates 7-day, <br> 1.40%<br>| Quarterly | 1.58% | Quarterly | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; CNY | &nbsp;&nbsp; 133329 | &nbsp;&nbsp; 34562 | &nbsp;&nbsp; 209 | &nbsp;&nbsp; 34353 |
| &nbsp;&nbsp;&nbsp; China Fixing Repo <br> Rates 7-day, <br> 1.40%<br>| Quarterly | 1.65% | Quarterly | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; CNY | &nbsp;&nbsp; 20337 | &nbsp;&nbsp; 14521 | &nbsp;&nbsp; 32 | &nbsp;&nbsp; 14489 |
| &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | 3.79% | Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 518746 | &nbsp;&nbsp; (595979)<br>| &nbsp;&nbsp; 259 | &nbsp;&nbsp; (596238)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | 3.82% | Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 145157 | &nbsp;&nbsp; (157089)<br>| &nbsp;&nbsp; 73 | &nbsp;&nbsp; (157162)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | 3.90% | Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 145477 | &nbsp;&nbsp; (129788)<br>| &nbsp;&nbsp; 73 | &nbsp;&nbsp; (129861)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | 4.02% | Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 3231 | &nbsp;&nbsp; (19144)<br>| &nbsp;&nbsp; 8 | &nbsp;&nbsp; (19152)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | 4.04% | Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 69348 | &nbsp;&nbsp; (389535)<br>| &nbsp;&nbsp; 197 | &nbsp;&nbsp; (389732)<br>|
| 4.08% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 23237 | &nbsp;&nbsp; 119101 | &nbsp;&nbsp; 67 | &nbsp;&nbsp; 119034 |
| 4.08% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 23589 | &nbsp;&nbsp; 120326 | &nbsp;&nbsp; 68 | &nbsp;&nbsp; 120258 |
| 4.10% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 23589 | &nbsp;&nbsp; 115977 | &nbsp;&nbsp; 68 | &nbsp;&nbsp; 115909 |
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 6.23% | Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 225516 | &nbsp;&nbsp; 8413 | &nbsp;&nbsp; 7 | &nbsp;&nbsp; 8406 |
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 6.24% | Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 224158 | &nbsp;&nbsp; 8588 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 8580 |
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 6.26% | Annual | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 1216984 | &nbsp;&nbsp; 49766 | &nbsp;&nbsp; 38 | &nbsp;&nbsp; 49728 |
| 6.86% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 99804 | &nbsp;&nbsp; 175418 | &nbsp;&nbsp; 60 | &nbsp;&nbsp; 175358 |
| 6.88% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 770712 | &nbsp;&nbsp; 1313099 | &nbsp;&nbsp; 460 | &nbsp;&nbsp; 1312639 |
| 7.04% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 12/17/30 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 96345 | &nbsp;&nbsp; 127086 | &nbsp;&nbsp; 59 | &nbsp;&nbsp; 127027 |
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.06% | At Termination | N/A | &nbsp;&nbsp; 01/02/31 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 13325 | &nbsp;&nbsp; (60384)<br>| &nbsp;&nbsp; 64 | &nbsp;&nbsp; (60448)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.18% | At Termination | N/A | &nbsp;&nbsp; 01/02/31 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 59030 | &nbsp;&nbsp; (202167)<br>| &nbsp;&nbsp; 279 | &nbsp;&nbsp; (202446)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.24% | At Termination | N/A | &nbsp;&nbsp; 01/02/31 | &nbsp;&nbsp; BRL | &nbsp;&nbsp; 23499 | &nbsp;&nbsp; (56676)<br>| &nbsp;&nbsp; 43 | &nbsp;&nbsp; (56719)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.53% | Monthly | N/A | &nbsp;&nbsp; 01/03/31 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 23794 | &nbsp;&nbsp; (15546)<br>| &nbsp;&nbsp; 12 | &nbsp;&nbsp; (15558)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 7.78% | Monthly | N/A | &nbsp;&nbsp; 01/16/31 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 48419 | &nbsp;&nbsp; (4388)<br>| &nbsp;&nbsp; 25 | &nbsp;&nbsp; (4413)<br>|
| &nbsp;&nbsp;&nbsp; China Fixing Repo <br> Rates 7-day, <br> 1.40%<br>| Quarterly | 1.62% | Quarterly | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; CNY | &nbsp;&nbsp; 17956 | &nbsp;&nbsp; 8764 | &nbsp;&nbsp; 29 | &nbsp;&nbsp; 8735 |
| &nbsp;&nbsp;&nbsp; China Fixing Repo <br> Rates 7-day, <br> 1.40%<br>| Quarterly | 1.64% | Quarterly | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; CNY | &nbsp;&nbsp; 8224 | &nbsp;&nbsp; 5342 | &nbsp;&nbsp; 13 | &nbsp;&nbsp; 5329 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Centrally Cleared Interest Rate Swaps (continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| 3.58% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 67966 | &nbsp;&nbsp; $115724 | &nbsp;&nbsp; $36 | &nbsp;&nbsp; $115688 |
| 3.62% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 68177 | &nbsp;&nbsp; 110830 | &nbsp;&nbsp; 36 | &nbsp;&nbsp; 110794 |
| &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | 3.72% | Annual | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 149605 | &nbsp;&nbsp; (209936)<br>| &nbsp;&nbsp; 78 | &nbsp;&nbsp; (210014)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | 3.74% | Annual | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 66327 | &nbsp;&nbsp; (89424)<br>| &nbsp;&nbsp; 35 | &nbsp;&nbsp; (89459)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | 3.97% | Annual | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 154573 | &nbsp;&nbsp; (130911)<br>| &nbsp;&nbsp; 81 | &nbsp;&nbsp; (130992)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 5.98% | Annual | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 104278 | &nbsp;&nbsp; 1140 | &nbsp;&nbsp; 4 | &nbsp;&nbsp; 1136 |
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 6.07% | Annual | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 227713 | &nbsp;&nbsp; 5389 | &nbsp;&nbsp; 8 | &nbsp;&nbsp; 5381 |
| 6.67% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 108289 | &nbsp;&nbsp; 257038 | &nbsp;&nbsp; 71 | &nbsp;&nbsp; 256967 |
| 6.69% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 47115 | &nbsp;&nbsp; 109926 | &nbsp;&nbsp; 31 | &nbsp;&nbsp; 109895 |
| 6.75% | Quarterly | &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | N/A | &nbsp;&nbsp; 03/18/31 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 106278 | &nbsp;&nbsp; 229993 | &nbsp;&nbsp; 69 | &nbsp;&nbsp; 229924 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.88% | Annual | N/A | &nbsp;&nbsp; 04/01/31 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 20000 | &nbsp;&nbsp; 133815 | &nbsp;&nbsp; 184 | &nbsp;&nbsp; 133631 |
| &nbsp;&nbsp;&nbsp; 1-day THOR, <br> 0.99%<br>| Quarterly | 1.62% | Quarterly | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/31 | &nbsp;&nbsp; THB | &nbsp;&nbsp; 1166119 | &nbsp;&nbsp; (152873)<br>| &nbsp;&nbsp; 397 | &nbsp;&nbsp; (153270)<br>|
| &nbsp;&nbsp;&nbsp; 1-day THOR, <br> 0.99%<br>| Quarterly | 1.62% | Quarterly | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/31 | &nbsp;&nbsp; THB | &nbsp;&nbsp; 238686 | &nbsp;&nbsp; (29121)<br>| &nbsp;&nbsp; 82 | &nbsp;&nbsp; (29203)<br>|
| &nbsp;&nbsp;&nbsp; 1-day THOR, <br> 0.99%<br>| Quarterly | 1.64% | Quarterly | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/31 | &nbsp;&nbsp; THB | &nbsp;&nbsp; 163210 | &nbsp;&nbsp; (15562)<br>| &nbsp;&nbsp; 57 | &nbsp;&nbsp; (15619)<br>|
| &nbsp;&nbsp;&nbsp; 1-day THOR, <br> 0.99%<br>| Quarterly | 1.65% | Quarterly | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/31 | &nbsp;&nbsp; THB | &nbsp;&nbsp; 163200 | &nbsp;&nbsp; (12661)<br>| &nbsp;&nbsp; 57 | &nbsp;&nbsp; (12718)<br>|
| 4.12% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/31 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 63672 | &nbsp;&nbsp; 351544 | &nbsp;&nbsp; 194 | &nbsp;&nbsp; 351350 |
| 4.22% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/31 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 77551 | &nbsp;&nbsp; 336069 | &nbsp;&nbsp; 241 | &nbsp;&nbsp; 335828 |
| 4.40% | Annual | &nbsp;&nbsp;&nbsp; 6-mo. WIBOR, <br> 3.88%<br>| Semi-Annual | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/31 | &nbsp;&nbsp; PLN | &nbsp;&nbsp; 63752 | &nbsp;&nbsp; 136313 | &nbsp;&nbsp; 193 | &nbsp;&nbsp; 136120 |
| &nbsp;&nbsp;&nbsp; 6-mo. PRIBOR, <br> 3.66%<br>| Semi-Annual | 4.44% | Annual | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/31 | &nbsp;&nbsp; CZK | &nbsp;&nbsp; 182905 | &nbsp;&nbsp; 12746 | &nbsp;&nbsp; 98 | &nbsp;&nbsp; 12648 |
| &nbsp;&nbsp;&nbsp; 1-day MIBOR, <br> 5.34%<br>| Semi-annual | 6.51% | Semi-annual | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/31 | &nbsp;&nbsp; INR | &nbsp;&nbsp; 1823857 | &nbsp;&nbsp; (120964)<br>| &nbsp;&nbsp; 217 | &nbsp;&nbsp; (121181)<br>|
| &nbsp;&nbsp;&nbsp; 3-mo. JIBAR, <br> 6.78%<br>| Quarterly | 7.51% | Quarterly | 6/17/26<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/17/31 | &nbsp;&nbsp; ZAR | &nbsp;&nbsp; 294939 | &nbsp;&nbsp; (131074)<br>| &nbsp;&nbsp; 198 | &nbsp;&nbsp; (131272)<br>|
| &nbsp;&nbsp;&nbsp; 1-day MIBOR, <br> 5.34%<br>| Semi-annual | 6.44% | Semi-annual | N/A | &nbsp;&nbsp; 09/18/34 | &nbsp;&nbsp; INR | &nbsp;&nbsp; 379219 | &nbsp;&nbsp; (84134)<br>| &nbsp;&nbsp; 82 | &nbsp;&nbsp; (84216)<br>|
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 3.70% | Annual | N/A | &nbsp;&nbsp; 01/06/35 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 34657 | &nbsp;&nbsp; (528326)<br>| &nbsp;&nbsp; 510 | &nbsp;&nbsp; (528836)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 8.27% | Monthly | N/A | &nbsp;&nbsp; 12/05/35 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 134182 | &nbsp;&nbsp; 11699 | &nbsp;&nbsp; 119 | &nbsp;&nbsp; 11580 |
| 1.49% | Quarterly | &nbsp;&nbsp;&nbsp; 1-day THOR, <br> 0.99%<br>| Quarterly | N/A | &nbsp;&nbsp; 12/17/35 | &nbsp;&nbsp; THB | &nbsp;&nbsp; 50085 | &nbsp;&nbsp; 79593 | &nbsp;&nbsp; 18132 | &nbsp;&nbsp; 61461 |
| &nbsp;&nbsp;&nbsp; 1-day THOR, <br> 0.99%<br>| Quarterly | 1.59% | Quarterly | N/A | &nbsp;&nbsp; 12/17/35 | &nbsp;&nbsp; THB | &nbsp;&nbsp; 50085 | &nbsp;&nbsp; (65465)<br>| &nbsp;&nbsp; 28 | &nbsp;&nbsp; (65493)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 8.00% | Monthly | N/A | &nbsp;&nbsp; 12/28/35 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 6443 | &nbsp;&nbsp; (6294)<br>| &nbsp;&nbsp; 6 | &nbsp;&nbsp; (6300)<br>|
| &nbsp;&nbsp;&nbsp; 1-day <br> TIIEFONDEO, <br> 6.87%<br>| Monthly | 8.23% | Monthly | N/A | &nbsp;&nbsp; 01/10/36 | &nbsp;&nbsp; MXN | &nbsp;&nbsp; 14071 | &nbsp;&nbsp; (1339)<br>| &nbsp;&nbsp; 12 | &nbsp;&nbsp; (1351)<br>|
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 5.49% | Annual | 6/18/31<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/18/36 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 1263589 | &nbsp;&nbsp; 448 | &nbsp;&nbsp; 57 | &nbsp;&nbsp; 391 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**Centrally Cleared Interest Rate Swaps (continued)**

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 5.54% | Annual | 6/18/31<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/18/36 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 1258119 | &nbsp;&nbsp; $7147 | &nbsp;&nbsp; $56 | &nbsp;&nbsp; $7091 |
| &nbsp;&nbsp;&nbsp; 6-mo. BUBOR, <br> 6.25%<br>| Semi-Annual | 5.65% | Annual | 6/18/31<sup>(a)</sup> <br>| &nbsp;&nbsp; 06/18/36 | &nbsp;&nbsp; HUF | &nbsp;&nbsp; 1283106 | &nbsp;&nbsp; 21641 | &nbsp;&nbsp; 58 | &nbsp;&nbsp; 21583 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | 4.08% | Annual | N/A | &nbsp;&nbsp; 12/12/55 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 296000 | &nbsp;&nbsp; (6475987)<br>| &nbsp;&nbsp; (143966)<br>| &nbsp;&nbsp; (6332021)<br>|
| 4.08% | Annual | &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 3.66%<br>| Annual | N/A | &nbsp;&nbsp; 12/12/55 | &nbsp;&nbsp; USD | &nbsp;&nbsp; 296000 | &nbsp;&nbsp; 6527255 | &nbsp;&nbsp; 213869 | &nbsp;&nbsp; 6313386 |
| &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.73%<br>| Annual | 2.87% | Annual | N/A | &nbsp;&nbsp; 03/30/56 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 1596640 | &nbsp;&nbsp; (518576)<br>| &nbsp;&nbsp; 357 | &nbsp;&nbsp; (518933)<br>|
| &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.73%<br>| Annual | 2.88% | Annual | N/A | &nbsp;&nbsp; 03/30/56 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 1598453 | &nbsp;&nbsp; (486417)<br>| &nbsp;&nbsp; 357 | &nbsp;&nbsp; (486774)<br>|
| &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.73%<br>| Annual | 2.89% | Annual | N/A | &nbsp;&nbsp; 03/30/56 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 1608825 | &nbsp;&nbsp; (476182)<br>| &nbsp;&nbsp; 360 | &nbsp;&nbsp; (476542)<br>|
| &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.73%<br>| Annual | 2.95% | Annual | N/A | &nbsp;&nbsp; 03/30/56 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 1595485 | &nbsp;&nbsp; (354762)<br>| &nbsp;&nbsp; 356 | &nbsp;&nbsp; (355118)<br>|
| &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.73%<br>| Annual | 2.98% | Annual | N/A | &nbsp;&nbsp; 03/30/56 | &nbsp;&nbsp; JPY | &nbsp;&nbsp; 1880517 | &nbsp;&nbsp; (333862)<br>| &nbsp;&nbsp; 419 | &nbsp;&nbsp; (334281)<br>|
|  |  |  |  |  |  |  |  | &nbsp;&nbsp; $(6626406)<br>| &nbsp;&nbsp; $106039 | &nbsp;&nbsp; $(6732445)<br>|

---

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

<sup>(a)</sup> Forward Swap.

**OTC Interest Rate Swaps** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | *Counterparty* | *Effective* <br>*Date* | *Termination* <br>*Date* |  | *Notional* <br>*Amount* <br>*(000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)* | *Unrealized* <br>*Appreciation* <br>*(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | *Counterparty* | *Effective* <br>*Date* | *Termination* <br>*Date* |  | *Notional* <br>*Amount* <br>*(000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)* | *Unrealized* <br>*Appreciation* <br>*(Depreciation)* |
| 8.07% | At Termination | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| At Termination | Barclays Bank PLC | N/A | 09/17/26 | COP | $1912726 | $12723 | $— | $12723 |
| 8.40% | At Termination | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| At Termination | Barclays Bank PLC | N/A | 09/17/26 | COP | 956306 | 5520 |  | 5520 |
| 8.61% | At Termination | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| At Termination | Barclays Bank PLC | N/A | 09/17/26 | COP | 1913281 | 9974 |  | 9974 |
| 8.64% | At Termination | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| At Termination | Barclays Bank PLC | N/A | 09/17/26 | COP | 958429 | 4932 |  | 4932 |
| 8.69% | At Termination | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| At Termination | Barclays Bank PLC | N/A | 09/17/26 | COP | 480012 | 2400 |  | 2400 |
| 8.73% | At Termination | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| At Termination | &nbsp;&nbsp;&nbsp; Morgan Stanley & <br> Co. International <br> PLC<br>| N/A | 09/17/26 | COP | 1140814 | 5582 |  | 5582 |
| 8.75% | At Termination | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| At Termination | Citibank N.A. | N/A | 09/17/26 | COP | 174620 | 847 |  | 847 |
| 8.78% | At Termination | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| At Termination | Citibank N.A. | N/A | 09/17/26 | COP | 1230540 | 5857 |  | 5857 |
| 8.80% | At Termination | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| At Termination | &nbsp;&nbsp;&nbsp; JPMorgan Chase <br> Bank N.A.<br>| N/A | 09/17/26 | COP | 234476 | 1107 |  | 1107 |
| 7.25% | Quarterly | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | Barclays Bank PLC | N/A | 09/25/26 | COP | 1912726 | 10758 |  | 10758 |
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.06%<br>| At Termination | 13.42% | At Termination | &nbsp;&nbsp;&nbsp; Morgan Stanley & <br> Co. International <br> PLC<br>| N/A | 01/04/27 | BRL | 1970 | (6791)<br>|  | (6791)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.06%<br>| At Termination | 14.58% | At Termination | &nbsp;&nbsp;&nbsp; Bank of America <br> N.A.<br>| N/A | 01/04/27 | BRL | 2662 | 1139 |  | 1139 |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**OTC Interest Rate Swaps (continued)**

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | *Counterparty* | *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | *Counterparty* | *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| 4.44% | Semi-annual | &nbsp;&nbsp;&nbsp; 1-day CLP <br> Interbank Rate, <br> 26.43%<br>| Semi-annual | &nbsp;&nbsp;&nbsp; Goldman Sachs <br> International<br>| N/A | 12/17/27 | CLP | $30195775 | $242708 | $— | $242708 |
| &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | 9.31% | Quarterly | &nbsp;&nbsp;&nbsp; Goldman Sachs <br> International<br>| N/A | 12/17/27 | COP | 29600451 | (364141)<br>|  | (364141)<br>|
| &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | 9.37% | Quarterly | &nbsp;&nbsp;&nbsp; Goldman Sachs <br> International<br>| N/A | 12/17/27 | COP | 29383670 | (353730)<br>|  | (353730)<br>|
| &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | 9.54% | Quarterly | &nbsp;&nbsp;&nbsp; Morgan Stanley & <br> Co. International <br> PLC<br>| N/A | 12/17/27 | COP | 58337439 | (658717)<br>|  | (658717)<br>|
| 4.40% | Semi-annual | &nbsp;&nbsp;&nbsp; 1-day CLP <br> Interbank Rate, <br> 26.43%<br>| Semi-annual | Citibank N.A. | N/A | 03/18/28 | CLP | 3021293 | 30264 |  | 30264 |
| &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | 10.78% | Quarterly | &nbsp;&nbsp;&nbsp; Goldman Sachs <br> International<br>| N/A | 03/18/28 | COP | 5633786 | (37872)<br>|  | (37872)<br>|
| &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | 11.00% | Quarterly | HSBC Bank PLC | N/A | 03/18/28 | COP | 12302521 | (69285)<br>|  | (69285)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.06%<br>| At Termination | 13.31% | At Termination | Barclays Bank PLC | N/A | 01/02/29 | BRL | 4624 | (19968)<br>|  | (19968)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.06%<br>| At Termination | 13.33% | At Termination | Barclays Bank PLC | N/A | 01/02/29 | BRL | 8079 | (37266)<br>|  | (37266)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.06%<br>| At Termination | 13.34% | At Termination | Barclays Bank PLC | N/A | 01/02/29 | BRL | 25866 | (107995)<br>|  | (107995)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.05%<br>| At Termination | 13.34% | At Termination | Barclays Bank PLC | N/A | 01/02/29 | BRL | 9233 | (34592)<br>|  | (34592)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.06%<br>| At Termination | 13.42% | At Termination | &nbsp;&nbsp;&nbsp; Bank of America <br> N.A.<br>| N/A | 01/02/29 | BRL | 18431 | (66389)<br>|  | (66389)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.06%<br>| At Termination | 13.43% | At Termination | Barclays Bank PLC | N/A | 01/02/29 | BRL | 4039 | (15028)<br>|  | (15028)<br>|
| &nbsp;&nbsp;&nbsp; 1-day BZDIOVER, <br> 0.06%<br>| At Termination | 14.03% | At Termination | Barclays Bank PLC | N/A | 01/02/29 | BRL | 8079 | 12097 |  | 12097 |
| 9.36% | Quarterly | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | &nbsp;&nbsp;&nbsp; Goldman Sachs <br> International<br>| N/A | 12/17/29 | COP | 16418562 | 352676 |  | 352676 |
| 9.42% | Quarterly | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | &nbsp;&nbsp;&nbsp; Goldman Sachs <br> International<br>| N/A | 12/17/29 | COP | 16370409 | 343431 |  | 343431 |
| 9.54% | Quarterly | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | &nbsp;&nbsp;&nbsp; Morgan Stanley & <br> Co. International <br> PLC<br>| N/A | 12/17/29 | COP | 32103722 | 641292 |  | 641292 |
| 10.60% | Quarterly | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | &nbsp;&nbsp;&nbsp; Goldman Sachs <br> International<br>| N/A | 03/18/30 | COP | 3116150 | 35556 |  | 35556 |
| 10.67% | Quarterly | &nbsp;&nbsp;&nbsp; 1-day COOIS, <br> 10.53%<br>| Quarterly | HSBC Bank PLC | N/A | 03/18/30 | COP | 6804749 | 73161 |  | 73161 |
| 5.09% | Semi-annual | &nbsp;&nbsp;&nbsp; 1-day CLP <br> Interbank Rate, <br> 26.43%<br>| Semi-annual | &nbsp;&nbsp;&nbsp; Goldman Sachs <br> International<br>| 6/17/26 <br><sup>(a)</sup><br>| 06/17/31 | CLP | 4229820 | 172 |  | 172 |
| &nbsp;&nbsp;&nbsp; 1-day CLP <br> Interbank Rate, <br> 26.43%<br>| Semi-annual | 5.24% | Semi-annual | Citibank N.A. | N/A | 03/18/36 | CLP | 372427 | (1705)<br>|  | (1705)<br>|
| 5.42% | Semi-annual | &nbsp;&nbsp;&nbsp; 1-day CLP <br> Interbank Rate, <br> 26.43%<br>| Semi-annual | BNP Paribas S.A. | 6/17/26 <br><sup>(a)</sup><br>| 06/17/36 | CLP | 4426716 | (34528)<br>|  | (34528)<br>|
|  |  |  |  |  |  |  |  |  | $(15811)<br>| $— | $(15811)<br>|

---

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

<sup>(a)</sup> Forward Swap.

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

**OTC Credit Default Swaps — Sell Protection** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Received* <br>*by the Fund*<br>| &nbsp;&nbsp; *Payment* <br>*Frequency*<br>| *Counterparty* | *Termination* <br>*Date*<br>| *Credit* <br>*Rating*<br>| *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)*<br>| *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Faurecia SE | 5.00 | Quarterly | Morgan Stanley & Co. <br> International PLC<br>| 12/20/30 | BB- | EUR | 1927 | $252485 | $231322 | $21163 |
| Worldline SA | 5.00 | Quarterly | Deutsche Bank AG | 12/20/30 | BB | EUR | 891 | (169895)<br>| (207746)<br>| 37851 |
| Worldline SA | 5.00 | Quarterly | Goldman Sachs International | 12/20/30 | BB | EUR | 6900 | (1315553)<br>| (1708729)<br>| 393176 |
| Worldline SA | 5.00 | Quarterly | JPMorgan Chase Bank N.A. | 12/20/30 | BB | EUR | 909 | (173293)<br>| (222386)<br>| 49093 |
|  |  |  |  |  |  |  |  | $(1406256)<br>| $(1907539)<br>| $501283 |

---

**OTC Total Return Swaps** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Paid by the Fund* | *Paid by the Fund* | *Received by the Fund* | *Received by the Fund* |  |  |  |  |  |  |  |  |
| *Rate* | *Frequency* | *Reference* | *Frequency* | *Counterparty* | *Effective* <br>*Date*<br>| *Termination* <br>*Date*<br>| *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)*<br>| *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.55%, 3.66%<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; iShares iBoxx $ Investment Grade <br> Corporate Bond ETF<br>| At <br> Termination<br>| Goldman Sachs <br> International<br>| N/A | 06/22/26 | USD | 41965 | $(104416)<br>| $3672 | $(108088)<br>|
| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.55%, 3.66%<br>| Quarterly | &nbsp;&nbsp;&nbsp; iShares iBoxx $ Investment Grade <br> Corporate Bond ETF<br>| At <br> Termination<br>| JPMorgan <br> Chase Bank <br> N.A.<br>| N/A | 06/22/26 | USD | 49726 | (93654)<br>| 4351 | (98005)<br>|
| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.70%, 3.66%<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High <br> Yield Corporate Bond <br> ETF<br>| At <br> Termination<br>| JPMorgan <br> Chase Bank <br> N.A.<br>| N/A | 06/22/26 | USD | 65170 | 997536 | (1)<br>| 997537 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.95%, 3.66%<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High <br> Yield Corporate Bond <br> ETF<br>| At <br> Termination<br>| Citibank N.A. | N/A | 06/22/26 | USD | 30373 | 473134 |  | 473134 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 1.00%, 3.66%<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High <br> Yield Corporate Bond <br> ETF<br>| At <br> Termination<br>| Barclays Bank <br> PLC<br>| N/A | 06/22/26 | USD | 79709 | 1245679 | 11603 | 1234076 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 1.00%, 3.66%<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High <br> Yield Corporate Bond <br> ETF<br>| At <br> Termination<br>| Morgan Stanley <br> & Co. <br> International <br> PLC<br>| N/A | 06/22/26 | USD | 154162 | 2398608 | 11220 | 2387388 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR plus <br> 0.20%, 3.66%<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High <br> Yield Corporate Bond <br> ETF<br>| At <br> Termination<br>| Bank of America <br> N.A.<br>| N/A | 06/22/26 | USD | 126607 | (420430)<br>|  | (420430)<br>|
| &nbsp;&nbsp;&nbsp; 1-day SOFR plus <br> 0.20%, 3.66%<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High <br> Yield Corporate Bond <br> ETF<br>| At <br> Termination<br>| Bank of America <br> N.A.<br>| N/A | 06/22/26 | USD | 84385 | (209954)<br>|  | (209954)<br>|
|  |  |  |  |  |  |  |  |  | $4286503 | $30845 | $4255658 |

---

**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 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.

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2783674968 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2783674968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 3637796651 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3637796651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible Bonds | &nbsp;&nbsp; 17401210 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 17401210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 6566594700 | &nbsp;&nbsp; 40553321 | &nbsp;&nbsp; 6607148021 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Fixed Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 5217000 | &nbsp;&nbsp; 5217000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Floating Rate Loan Interests | &nbsp;&nbsp; — | &nbsp;&nbsp; 259394112 | &nbsp;&nbsp; 21024930 | &nbsp;&nbsp; 280419042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 2173709985 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2173709985 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Debt Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 2268210 | &nbsp;&nbsp; — | &nbsp;&nbsp; 2268210 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 4244617750 | &nbsp;&nbsp; — | &nbsp;&nbsp; 4244617750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Treasury Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 34937162 | &nbsp;&nbsp; — | &nbsp;&nbsp; 34937162 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 791528 | &nbsp;&nbsp; 791528 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp; 307628183 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 307628183 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; 888060 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 888060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 1040188214 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 1040188214 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options Purchased  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 3415793 | &nbsp;&nbsp; — | &nbsp;&nbsp; 3415793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 1043854 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1043854 |
| &nbsp;&nbsp;&nbsp; Unfunded Floating Rate Loan Interests<sup>(a)</sup> | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 48302 | &nbsp;&nbsp; 48302 |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA Sales Commitments | &nbsp;&nbsp; — | &nbsp;&nbsp; (1626076839)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1626076839)<br>|
|  | &nbsp;&nbsp; 1366105667 | &nbsp;&nbsp; $18081376346 | &nbsp;&nbsp; $67635081 | &nbsp;&nbsp; $19515117094 |
| Derivative Financial Instruments<sup>(b)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2358818 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $2358818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 5092135 | &nbsp;&nbsp; — | &nbsp;&nbsp; 5092135 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 51103868 | &nbsp;&nbsp; — | &nbsp;&nbsp; 51103868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; 34007298 | &nbsp;&nbsp; 15773015 | &nbsp;&nbsp; — | &nbsp;&nbsp; 49780313 |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (1660060)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1660060)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; (323022)<br>| &nbsp;&nbsp; (836477)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (1159499)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (113629932)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (113629932)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; (20038980)<br>| &nbsp;&nbsp; (37133191)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (57172171)<br>|
|  | &nbsp;&nbsp; $13645296 | &nbsp;&nbsp; $(78931824)<br>| &nbsp;&nbsp; $— | &nbsp;&nbsp; $(65286528)<br>|

---

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

<sup>(a)</sup> Unfunded floating rate loan interests are valued at the unrealized appreciation (depreciation) on the commitment.

<sup>(b)</sup> Derivative financial instruments are swaps, futures contracts, forward foreign currency exchange contracts and options written. Swaps, futures contracts and forward foreign currency exchange contracts are valued at the unrealized appreciation (depreciation) on the instrument and options written are shown at value. 

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

---

| | |
|:---|:---|
| **Currency Abbreviation** | **Currency Abbreviation** |
| ARS | Argentine Peso |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| CNH | Chinese Yuan |
| CNY | Chinese Yuan |
| COP | Colombian Peso |
| CZK | Czech Koruna |
| DOP | Dominican Peso |
| EGP | Egyptian Pound |
| EUR | Euro |
| GBP | British Pound |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | South Korean Won |

---

------

Schedule of Investments (unaudited)(continued)

April 30, 2026

**iShares Flexible Income Active ETF**

---

| | |
|:---|:---|
| **Currency Abbreviation (continued)** | **Currency Abbreviation (continued)** |
| KZT | Kazakhstani Tenge |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NGN | Nigerian Naira |
| PEN | Peru Nuevo Sol |
| PHP | Philippine Peso |
| PLN | Polish Zloty |
| RON | Romanian Leu |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| TRY | Turkish Lira |
| TWD | New Taiwan Dollar |
| USD | United States Dollar |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| BZDIOVER | Overnight Brazil CETIP — Interbank Rate |
| CLO | Collateralized Loan Obligation |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| ETF | Exchange-Traded Fund |
| EURIBOR | Euro Interbank Offered Rate |
| JIBAR | Johannesburg Interbank Agreed Rate |
| JSC | Joint Stock Company |

---

---

| | |
|:---|:---|
| MXIBTIIE | Mexico Interbank TIIE 28 Day |
| PIK | Payment-in-kind |
| RB | Revenue Bonds |
| REIT | Real Estate Investment Trust |
| SCA | Svenska Celluosa Aktiebolaget |
| SOFR | Secured Overnight Financing Rate |
| SONIA | Sterling Overnight Interbank Average Rate |
| STRIPS | &nbsp;&nbsp;&nbsp; Separate Trading of Registered Interest & Principal of <br>Securities<br>|
| TBA | To-Be-Announced |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BlackRock ETF Trust II

- **b. Investment Company Act file number:** 811-23511

- **c. CIK number of Registrant:** 0001804196

- **d. LEI of Registrant:** 549300PLJCTZLQ2LE832

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

  - **Street Address 1:** 100 BELLEVUE PARKWAY

  - **City:** WILMINGTON

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

  - **Telephone number:** 800-441-7762

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

- **a. Name of Series:** iShares Flexible Income Active ETF

- **b. EDGAR series identifier (if any):** S000080411

- **c. LEI of Series:** 5299008ELWKMLX9XJP73

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

- **a. Date of fiscal year-end:** 2026-07-31

- **b. Date as of which information is reported:** 2026-04-30

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $22144417084.79

**Total Liabilities:** $5284215623.31

**Net Assets:** $16860201461.48

**Delayed Delivery Securities:** $1746422913.50

**Cash Not Reported:** $445103253.98

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 806165.97000000 | **1-Year:** 114347.12000000 | **5-Year:** 2154059.90000000 | **10-Year:** 966527.76000000 | **30-Year:** 309927.89000000

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

- **3-Month:** 618422.32000000 | **1-Year:** 343204.80000000 | **5-Year:** 1706206.15000000 | **10-Year:** 175144.41000000 | **30-Year:** 209032.64000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000242803 | 0.74%                | -1.95%               | 1.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $33153559.95             | $-7867722.70                               |
| Month 2  | $-15824946.52            | $-459561460.34                             |
| Month 3  | $-27402323.43            | $193858657.76                              |

**Designated Index Information**

- **Index Name:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

- **Index Identifier:** Fund`s Designated Reference Portfolio is the Fund`s Securities Portfolio

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NEWDAY PARTNERSHIP FUNDING PLC                                   | Newday Funding Master Issuer PLC - Series 2026-1                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | GB        |       587000 | PA      | $798927.82    | 0.00%             | 2034-03-15      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBH2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |       737000 | PA      | $731162.96    | 0.00%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                          | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAE8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       900000 | PA      | $924579.90    | 0.01%             | 2033-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG                                                     | ams-OSRAM AG                                                                     | CUSIP: 000000000<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |      2872000 | PA      | $3550225.59   | 0.02%             | 2029-03-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-C                                                 | CUSIP: 64035GAD1<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |       664000 | PA      | $585671.04    | 0.00%             | 2062-04-20      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| MidOcean Credit CLO                                              | Midocean Credit CLO XV Ltd                                                       | CUSIP: 59801FAG8<br>LEI: 254900R5AXF91DYP1Y16 | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $1001010.80   | 0.01%             | 2037-07-21      | Floating      | 5.97%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                             | Matador Resources Co                                                             | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |      3289000 | PA      | $3358608.40   | 0.02%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                                          | Hungary Government Bond                                                          | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   5234460000 | PA      | $18055263.19  | 0.11%             | 2035-10-24      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-A                                                 | CUSIP: 64035DAB2<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      1277065 | PA      | $1217748.34   | 0.01%             | 2062-04-20      | Fixed         | 1.36%                 | No            |                  2 | On Loan: No      |
| Green Lakes Park CLO LLC                                         | Green Lakes Park CLO LLC                                                         | CUSIP: 39310AAC4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      5000000 | PA      | $5001442.50   | 0.03%             | 2038-01-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      7974000 | PA      | $6850508.53   | 0.04%             | 2033-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Trimaran CAVU Ltd                                                | Trimaran CAVU 2024-1 Ltd                                                         | CUSIP: 89625LAA9<br>LEI: 254900IFDJE1IJQ1HT84 | Long             | ABS-CBDO         | CORP              | KY        |      3750000 | PA      | $3724255.50   | 0.02%             | 2038-01-25      | Floating      | 9.92%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2021-III Ltd                                                        | CUSIP: 12564DAJ3<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001949.40   | 0.01%             | 2038-10-15      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| VF UKRAINE (VFU FUNDING)                                         | VF Ukraine PAT via VFU Funding PLC                                               | CUSIP: 918212AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | UA        |       961038 | PA      | $953830.43    | 0.01%             | 2027-02-11      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                                             | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 771015000000 | PA      | $44273396.15  | 0.26%             | 2030-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY FINANCE LTD                                          | Studio City Finance Ltd                                                          | CUSIP: 000000000<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |      7211000 | PA      | $6875327.95   | 0.04%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                         | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       190000 | PA      | $184872.95    | 0.00%             | 2030-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| GOLDSTORY SASU                                                   | Goldstory SAS                                                                    | CUSIP: 000000000<br>LEI: 969500NWR67ONUJD4A26 | Long             | DBT              | CORP              | FR        |      4511000 | PA      | $5263422.61   | 0.03%             | 2030-02-01      | Floating      | 6.02%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                          | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAL9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |      4960000 | PA      | $4885029.60   | 0.03%             | 2030-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| HERENS HOLDCO SARL                                               | Herens Holdco Sarl                                                               | CUSIP: 427169AA5<br>LEI: 2221002FZ55AMAUX4G64 | Long             | DBT              | CORP              | LU        |      1682000 | PA      | $1488570.00   | 0.01%             | 2028-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.745000 03-JAN-2028 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    447566000 | OU      | $-121503.47   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BALL CORP                                                        | Ball Corp                                                                        | CUSIP: 058498BA3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |       705000 | PA      | $706874.53    | 0.00%             | 2033-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Winchester PLC                                                   | Winchester 1 PLC                                                                 | CUSIP: 000000000<br>LEI: 213800AWJGG72JJNBW66 | Long             | ABS-MBS          | CORP              | GB        |       340000 | PA      | $463155.03    | 0.00%             | 2056-10-21      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                              | Petroleos Mexicanos                                                              | CUSIP: 71654QCK6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |       696000 | PA      | $694809.84    | 0.00%             | 2028-02-12      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Bay View Federal Savings And Loan Assoc.                         | BAY 2025-LIVN Mortgage Trust                                                     | CUSIP: 072925AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9140000 | PA      | $9140000.00   | 0.05%             | 2035-05-15      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-WPT                                            | CUSIP: 05612JAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1382500 | PA      | $1380290.35   | 0.01%             | 2034-03-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| AUSTRALIAN METCOAL FINAN                                         | Australian Metcoal Financing Pty Ltd                                             | CUSIP: 000000000<br>LEI: 529900ZB2IL1HUTFQ193 | Long             | DBT              | CORP              | AU        |      1200000 | PA      | $1216413.62   | 0.01%             | 2031-10-22      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC LLC/INC                                         | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc        | CUSIP: 43284MAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2988000 | PA      | $2891667.78   | 0.02%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 60B Ltd                                               | CUSIP: 381733AJ3<br>LEI: 254900Q9J0ZXOH0PUQ28 | Long             | ABS-CBDO         | CORP              | KY        |       600000 | PA      | $600554.34    | 0.00%             | 2034-10-25      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | Bravo Residential Funding Trust 2025-Nqm3                                        | CUSIP: 105927AC1<br>LEI: 254900KREJHICFBDC014 | Long             | ABS-MBS          | CORP              | US        |      1007024 | PA      | $1012559.04   | 0.01%             | 2065-03-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AS3<br>LEI: 549300ITPIHLG0LHEC09 | Long             | DBT              | CORP              | US        |       190000 | PA      | $191004.53    | 0.00%             | 2028-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| VOLKSWAGEN INTL FIN NV                                           | Volkswagen International Finance NV                                              | CUSIP: 000000000<br>LEI: 5299004PWNHKYTR23649 | Long             | DBT              | CORP              | NL        |      5000000 | PA      | $5861434.16   | 0.03%             | 2027-06-14      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                              | Starwood Mortgage Residential Trust 2020-1                                       | CUSIP: 85573AAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       940000 | PA      | $855754.66    | 0.01%             | 2050-02-25      | Variable      | 2.88%                 | No            |                  2 | On Loan: No      |
| ESSENDI SA                                                       | Essendi SA                                                                       | CUSIP: 000000000<br>LEI: 2221000MD2YP7WLTNC52 | Long             | DBT              | CORP              | LU        |     12613000 | PA      | $14724275.75  | 0.09%             | 2032-05-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| FT Santander Residential                                         | Santander Residential 1 FT                                                       | CUSIP: 000000000<br>LEI: 959800E7PWPHWSWPK316 | Long             | ABS-MBS          | CORP              | ES        |       400000 | PA      | $467279.70    | 0.00%             | 2068-10-18      | Floating      | 3.20%                 | No            |                  2 | On Loan: No      |
| HEIMSTADEN BOSTAD AB                                             | Heimstaden Bostad AB                                                             | CUSIP: 000000000<br>LEI: 549300TJR3PR8EXILG79 | Long             | DBT              | CORP              | SE        |      4330000 | PA      | $5166133.05   | 0.03%             | 2029-12-04      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                                         | Performance Food Group Inc                                                       | CUSIP: 71376LAF7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |       722000 | PA      | $731869.74    | 0.00%             | 2032-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| Republic Finance Issuance Trust                                  | Republic Finance Issuance Trust 2024-B                                           | CUSIP: 76042GAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7613000 | PA      | $7698828.96   | 0.05%             | 2037-11-20      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                                         | Navoi Mining & Metallurgical Combinat                                            | CUSIP: 63890CAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |       722000 | PA      | $741855.00    | 0.00%             | 2028-10-17      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| TOTALENERGIES SE                                                 | TotalEnergies SE                                                                 | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | DBT              | CORP              | FR        |      4500000 | PA      | $5215861.22   | 0.03%             | 2027-01-17      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2024-CNYN                                                               | CUSIP: 05612HAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3739484 | PA      | $3746502.78   | 0.02%             | 2041-04-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| CIFC European Funding                                            | CIFC European Funding CLO II DAC                                                 | CUSIP: 000000000<br>LEI: 549300NYQTL91Z5R9B69 | Long             | ABS-CBDO         | CORP              | IE        |      1440000 | PA      | $1687515.23   | 0.01%             | 2039-10-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-P2                                   | CUSIP: 92262XAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       289347 | PA      | $285732.04    | 0.00%             | 2055-10-25      | Variable      | 9.45%                 | No            |                  2 | On Loan: No      |
| Honey Hill Park CLO, Ltd                                         | Honey Hill Park CLO Ltd                                                          | CUSIP: 438453AC6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      7975000 | PA      | $7970863.37   | 0.05%             | 2039-04-24      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                            | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAE8<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |      5337000 | PA      | $5147995.48   | 0.03%             | 2031-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                         | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2694000 | PA      | $2762610.79   | 0.02%             | 2032-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                             | Colombian TES                                                                    | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 128333200000 | PA      | $31528751.62  | 0.19%             | 2027-11-03      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FLUTTER TREASURY DAC                                             | Flutter Treasury DAC                                                             | CUSIP: 000000000<br>LEI: 635400JE8VLL9UFVIC38 | Long             | DBT              | CORP              | IE        |     14019000 | PA      | $16051813.32  | 0.10%             | 2031-06-04      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                              | Petroleos Mexicanos                                                              | CUSIP: 71654QDB5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      1392000 | PA      | $1401048.00   | 0.01%             | 2027-01-23      | Fixed         | 6.49%                 | No            |                  2 | On Loan: —       |
| CLEVELAND-CLIFFS INC                                             | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AR2<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |      1711000 | PA      | $1729186.22   | 0.01%             | 2033-05-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2020-H                                 | CUSIP: 63942AAB2<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |      2325700 | PA      | $2313354.21   | 0.01%             | 2069-04-15      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| Ghana Government International Bonds                             | Ghana Government International Bonds                                             | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      1130288 | PA      | $989002.00    | 0.01%             | 2030-01-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                                | Lebanon Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |      1555000 | PA      | $394192.50    | 0.00%             | 2023-01-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                                              | Station Casinos LLC                                                              | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |      1019000 | PA      | $1003153.89   | 0.01%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| ALLIED UNIVERSAL HOLDCO                                          | Allied Universal Holdco LLC                                                      | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |      3627000 | PA      | $3804258.74   | 0.02%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| East One                                                         | East One 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800NEAFVXSQQHPC92 | Long             | ABS-MBS          | CORP              | GB        |       847996 | PA      | $1162592.89   | 0.01%             | 2058-02-25      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED COP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CO        |            1 | NC      | $60354.01     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                             | Neptune Bidco US Inc                                                             | CUSIP: 640695AA0<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |       900000 | PA      | $910214.54    | 0.01%             | 2029-04-15      | Fixed         | 9.29%                 | No            |                  2 | On Loan: No      |
| AES ANDES SA                                                     | AES Andes SA                                                                     | CUSIP: 000000000<br>LEI: 549300IF4IFG0FS0RM26 | Long             | DBT              | CORP              | CL        |      4930000 | PA      | $5065082.00   | 0.03%             | 2029-03-15      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                                               | Morocco Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |       938000 | PA      | $1106740.11   | 0.01%             | 2035-04-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                          | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     78027400 | PA      | $3718804.60   | 0.02%             | 2055-04-29      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                                     | Huntington Bank Auto Credit-Linked Notes Series 2025-2                           | CUSIP: 44644NAP4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1634766 | PA      | $1639102.99   | 0.01%             | 2033-09-20      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4068000 | PA      | $4148915.04   | 0.02%             | 2035-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| JP Morgan Mortgage Trust                                         | J.P. Morgan Mortgage Trust 2021-LTV2                                             | CUSIP: 46654VAC7<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      2177167 | PA      | $1882142.46   | 0.01%             | 2052-05-25      | Variable      | 2.93%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2022-4                                    | CUSIP: 92259KAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       976247 | PA      | $931022.24    | 0.01%             | 2052-08-25      | Variable      | 7.52%                 | No            |                  2 | On Loan: No      |
| Allied Universal Holdco LLC                                      | Allied Universal Holdco LLC 2025 USD Term Loan B                                 | CUSIP: 01957TAX5<br>LEI: 98450038B4549046D794 | Long             | LON              | CORP              | US        |      1104910 | PA      | $1107595.33   | 0.01%             | 2032-08-20      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 41 LTD                                                                        | CUSIP: 749764AA4<br>LEI: 254900MKRTHN5MG3CP95 | Long             | ABS-CBDO         | CORP              | KY        |     11250000 | PA      | $11274653.25  | 0.07%             | 2040-10-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Cascade MH Asset Trust                                           | Cascade MH Asset Trust 2021-MH1                                                  | CUSIP: 14731QAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       229287 | PA      | $209458.72    | 0.00%             | 2046-02-25      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| MULTIVERSITY SPA                                                 | Multiversity SpA                                                                 | CUSIP: 000000000<br>LEI: 8945002RM8LY280ZUC12 | Long             | DBT              | CORP              | IT        |     17613000 | PA      | $21475614.21  | 0.13%             | 2031-05-17      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| TYSN 2023-CRNR Mortgage Trust                                    | TYSN 2023-CRNR Mortgage Trust                                                    | CUSIP: 87332PAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4304000 | PA      | $4471027.05   | 0.03%             | 2033-12-10      | Variable      | 6.80%                 | No            |                  2 | On Loan: No      |
| Galton Funding Mortgage Trust 2020-H1                            | Galton Funding Mortgage Trust 2020-H1                                            | CUSIP: 36418HAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3765960 | PA      | $3593618.73   | 0.02%             | 2060-01-25      | Variable      | 2.41%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      3521785 | PA      | $3138174.57   | 0.02%             | 2033-03-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | LendingClub Rated Notes Issuer Trust Series 2025-P2                              | CUSIP: 525949AF0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       183000 | PA      | $182337.61    | 0.00%             | 2037-01-15      | Fixed         | 13.02%                | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | AUD/USD One-touch barrier option; Barrier price AUD 0.68000                      | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | KY        |      1671000 | OU      | $107587.58    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F040651<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    416188000 | PA      | $390257593.94 | 2.31%             | 2056-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PRIMO / TRITON WATER HLD                                         | Primo Water Holdings Inc / Triton Water Holdings Inc                             | CUSIP: 74168RAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2646000 | PA      | $2582219.20   | 0.02%             | 2029-04-30      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MFB Magyar Fejlesztesi Bank Zrt                                  | MFB Magyar Fejlesztesi Bank Zrt                                                  | CUSIP: 000000000<br>LEI: 549300KCFVCFTUJZYT59 | Long             | DBT              | NUSS              | HU        |      6561000 | PA      | $6778333.13   | 0.04%             | 2028-06-29      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Sage AR Funding                                                  | Sage AR Funding                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |      4067000 | PA      | $5498938.59   | 0.03%             | 2038-05-18      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                          | Starwood Property Trust Inc                                                      | CUSIP: 85571BBF1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |       200000 | PA      | $199043.88    | 0.00%             | 2028-10-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                                         | Banco Bilbao Vizcaya Argentaria SA                                               | CUSIP: 05946KAS0<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |      3227000 | PA      | $3415489.07   | 0.02%             | 2032-01-14      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| NYC Commercial Mortgage Trust 2021-909                           | NYC Commercial Mortgage Trust 2025-28L                                           | CUSIP: 67123JAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5516000 | PA      | $5500862.99   | 0.03%             | 2038-11-05      | Variable      | 4.82%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                     | UBS Group AG                                                                     | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      7000000 | PA      | $8139617.17   | 0.05%             | 2030-06-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| BANCO DE SABADELL SA                                             | Banco de Sabadell SA                                                             | CUSIP: 000000000<br>LEI: SI5RG2M0WQQLZCXKRM20 | Long             | DBT              | CORP              | ES        |      6300000 | PA      | $7601243.85   | 0.05%             | 2028-11-10      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | USD P MXN C @17.32000 EO                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |    -67837000 | OU      | $-537811.74   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                         | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       250000 | PA      | $243905.95    | 0.00%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GRIFOLS SA                                                       | Grifols SA                                                                       | CUSIP: 000000000<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |      4195000 | PA      | $5111044.03   | 0.03%             | 2030-05-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Sage AR Funding                                                  | Sage AR Funding                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |      5790000 | PA      | $7832855.08   | 0.05%             | 2038-05-18      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.734500 11-MAY-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     93107463 | OU      | $4307.24      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2024-NQM4 Trust                                                              | CUSIP: 67118TAA2<br>LEI: 254900LSNFNEGAD7J679 | Long             | ABS-MBS          | CORP              | US        |      2374131 | PA      | $2387944.54   | 0.01%             | 2064-01-25      | Variable      | 6.07%                 | No            |                  2 | On Loan: No      |
| Regatta 31 Funding Ltd.                                          | Regatta 31 Funding Ltd                                                           | CUSIP: 758962AJ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2000462.00   | 0.01%             | 2038-03-25      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD CLP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $26461.32     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CROWN AMER/CAP CORP V                                            | Crown Americas LLC / Crown Americas Capital Corp V                               | CUSIP: 22819KAB6<br>LEI: RPPGGRL1J75WGF2DFO04 | Long             | DBT              | CORP              | US        |      2851000 | PA      | $2843125.82   | 0.02%             | 2026-09-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                   | CUSIP: 000000000<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      2266000 | PA      | $2666508.72   | 0.02%             | 2035-03-21      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                               | Regional Management Issuance Trust 2024-2                                        | CUSIP: 75907AAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       750000 | PA      | $753613.95    | 0.00%             | 2033-12-15      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                            | Silver Point Clo 5 Ltd                                                           | CUSIP: 82809BAJ5<br>LEI: 254900IB4JHW6SUR0Q75 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2470152.75   | 0.01%             | 2037-10-20      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust Series 2025-NQM3                                        | CUSIP: 46659QAC3<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      4177405 | PA      | $4194125.29   | 0.02%             | 2065-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 3.482500 18-MAR-2028 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     15998448 | OU      | $74895.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-7                                                | CUSIP: 924925AA8<br>LEI: 213800HQOHEFNJCQYJ07 | Long             | ABS-MBS          | CORP              | US        |      5179572 | PA      | $5189471.87   | 0.03%             | 2069-09-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| BOELS TOPHOLDING BV                                              | Boels Topholding BV                                                              | CUSIP: 000000000<br>LEI: 724500V913SEHSEW2O75 | Long             | DBT              | CORP              | NL        |      2297000 | PA      | $2760578.41   | 0.02%             | 2029-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 2 LTD                                                         | CUSIP: 67707ECA0<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      2050000 | PA      | $2051078.30   | 0.01%             | 2038-01-21      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Secucor Finance                                                  | Secucor Finance 2013-1 DAC                                                       | CUSIP: 000000000<br>LEI: 2138001E8BAK3OXZGG87 | Long             | ABS-O            | CORP              | IE        |       100000 | PA      | $116883.42    | 0.00%             | 2036-09-20      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                      | PRKCM 2021-AFC1 Trust                                                            | CUSIP: 69357TAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1484372 | PA      | $1297747.63   | 0.01%             | 2056-08-25      | Variable      | 2.07%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2026-2                                                | CUSIP: 92490GAE8<br>LEI: 213800OKSLL73WD2H386 | Long             | ABS-MBS          | CORP              | US        |      7356627 | PA      | $7230744.08   | 0.04%             | 2071-02-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO 2015-3 Ltd                                                      | CUSIP: 09628JAL5<br>LEI: 5493009UJ1T6R11V4458 | Long             | ABS-CBDO         | CORP              | KY        |       250233 | PA      | $250352.95    | 0.00%             | 2031-04-20      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MX        |            1 | NC      | $-260422.11   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                           | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $-2092370.08  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                                          | Asbury Automotive Group Inc                                                      | CUSIP: 043436AU8<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |      1442000 | PA      | $1427799.62   | 0.01%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                                               | Advance Auto Parts Inc                                                           | CUSIP: 00751YAK2<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |      2841000 | PA      | $2930707.42   | 0.02%             | 2030-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F052664<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      9300000 | PA      | $9336089.58   | 0.06%             | 2056-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                 | Altice France SA                                                                 | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |       736483 | PA      | $849370.90    | 0.01%             | 2032-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Brignole CO                                                      | Brignole Co                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | IT        |        70841 | PA      | $83268.33     | 0.00%             | 2042-02-24      | Floating      | 3.14%                 | No            |                  2 | On Loan: No      |
| ALLISON TRANSMISSION INC                                         | Allison Transmission Inc                                                         | CUSIP: 019736AE7<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |      2296000 | PA      | $2291887.18   | 0.01%             | 2027-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAD5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3761000 | PA      | $3686821.04   | 0.02%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HHC58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5280631 | PA      | $5317836.89   | 0.03%             | 2054-11-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD                                               | Ardonagh Finco Ltd                                                               | CUSIP: 000000000<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |     24668000 | PA      | $28984843.39  | 0.17%             | 2031-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                                 | CARLYLE US CLO 2021-2 LTD                                                        | CUSIP: 14316KAU9<br>LEI: 549300VC6J79YJCFU884 | Long             | ABS-CBDO         | CORP              | KY        |      1405000 | PA      | $1403936.70   | 0.01%             | 2038-04-20      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| CENCOSUD SA                                                      | Cencosud SA                                                                      | CUSIP: 15132HAJ0<br>LEI: 549300NLTGCFV7482429 | Long             | DBT              | CORP              | CL        |       364000 | PA      | $378996.80    | 0.00%             | 2031-05-28      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4392000 | PA      | $4340602.62   | 0.03%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| TEREOS FINANCE GROUPE I                                          | Tereos Finance Groupe I SA                                                       | CUSIP: 000000000<br>LEI: 969500183Z46A3QF8W69 | Long             | DBT              | CORP              | FR        |      2559000 | PA      | $3029973.12   | 0.02%             | 2028-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 40 Senior Loan Fund                                                       | CUSIP: 26244GAS4<br>LEI: 549300BH0PFEW6WVTN52 | Long             | ABS-CBDO         | CORP              | KY        |      4367730 | PA      | $4368073.43   | 0.03%             | 2031-08-15      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| BRENNTAG FINANCE BV                                              | Brenntag Finance BV                                                              | CUSIP: 000000000<br>LEI: 724500LOJA6NM43PH951 | Long             | DBT              | CORP              | NL        |      3800000 | PA      | $4361715.08   | 0.03%             | 2031-10-02      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Dowson 2026-1 Plc                                                | Dowson 2026-1 PLC                                                                | CUSIP: 000000000<br>LEI: 213800ARUDISHV4A5218 | Long             | ABS-O            | CORP              | GB        |       566000 | PA      | $770177.41    | 0.00%             | 2033-05-20      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| RB GLOBAL HOLDINGS INC                                           | Ritchie Bros Holdings Inc                                                        | CUSIP: 76774LAB3<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |       334000 | PA      | $338528.47    | 0.00%             | 2028-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                                   | Upgrade Master Pass-Thru Trust Series 2025-ST7                                   | CUSIP: 91533RAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3085145 | PA      | $3085153.46   | 0.02%             | 2032-11-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| PRM5 Trust                                                       | PRM5 Trust 2025-PRM5                                                             | CUSIP: 693980AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7507000 | PA      | $7463998.40   | 0.04%             | 2033-03-10      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | USD P BRL C @5.150000 EO                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |    -35595340 | OU      | $-1420467.64  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Flatiron CLO Ltd                                                 | Flatiron CLO 19 Ltd                                                              | CUSIP: 33883JBA8<br>LEI: 254900DN5GP1YLQEIW03 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250051.80    | 0.00%             | 2034-11-16      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       917000 | PA      | $936977.67    | 0.01%             | 2034-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                                           | Mosaic Solar Loan Trust 2018-2-GS                                                | CUSIP: 61946LAA0<br>LEI: 549300ZLA8SW2SVJMN33 | Long             | ABS-O            | CORP              | US        |       101998 | PA      | $95157.05     | 0.00%             | 2044-02-22      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                                         | Acadia Healthcare Co Inc                                                         | CUSIP: 00404AAP4<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |      2237000 | PA      | $2188961.32   | 0.01%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| TUNISIAN REPUBLIC                                                | Tunisian Republic                                                                | CUSIP: 000000000<br>LEI: 254900B5LFB16S9T2T11 | Long             | DBT              | NUSS              | TN        |     11485000 | PA      | $13400377.56  | 0.08%             | 2026-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                     | UBS Group AG                                                                     | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      3176000 | PA      | $3920111.03   | 0.02%             | 2032-03-17      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MAGYAR EXPORT-IMPORT BAN                                         | Magyar Export-Import Bank Zrt                                                    | CUSIP: 000000000<br>LEI: 529900O4UGETQ9Q3AA63 | Long             | DBT              | NUSS              | HU        |      6458000 | PA      | $8029780.45   | 0.05%             | 2029-05-16      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ZF EUROPE FINANCE BV                                             | ZF Europe Finance BV                                                             | CUSIP: 000000000<br>LEI: 549300RI533US2G6G542 | Long             | DBT              | CORP              | NL        |     12000000 | PA      | $14719867.52  | 0.09%             | 2030-06-12      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 3.920000 26-FEB-2030 SOF                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    100000000 | OU      | $830570.86    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ION PLAT FIN US/SARL                                             | ION Platform Finance US Inc / ION Platform Finance SARL                          | CUSIP: 46206AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       190000 | PA      | $177710.57    | 0.00%             | 2028-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2019-II Ltd                                                         | CUSIP: 12554ABJ0<br>LEI: 254900JI8OLAMXS6KW67 | Long             | ABS-CBDO         | CORP              | KY        |      4450000 | PA      | $4439471.75   | 0.03%             | 2038-10-17      | Floating      | 6.28%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                                              | Suzano Austria GmbH                                                              | CUSIP: 86964WAH5<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |      4890000 | PA      | $4858215.00   | 0.03%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                               | A&D Mortgage Trust 2026-NQM1                                                     | CUSIP: 00040DAC7<br>LEI: 984500FEB1BEC4C6Y473 | Long             | ABS-MBS          | CORP              | US        |      6045797 | PA      | $5999740.86   | 0.04%             | 2071-02-25      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                                           | Mosaic Solar Loan Trust 2023-4                                                   | CUSIP: 618934AA1<br>LEI: 549300ZLA8SW2SVJMN33 | Long             | ABS-O            | CORP              | US        |       105449 | PA      | $104617.63    | 0.00%             | 2053-05-20      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| CEDR TRUST                                                       | CEDR Commercial Mortgage Trust 2022-SNAI                                         | CUSIP: 12524AAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3780000 | PA      | $3740508.83   | 0.02%             | 2039-02-15      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | 2Y RTP 4.000000 02-JUL-2026                                                      | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              |  | US        |   -700000000 | OU      | $-686693.00   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                                       | MMAF Equipment Finance LLC 2024-A                                                | CUSIP: 55318CAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1676778 | PA      | $1709473.16   | 0.01%             | 2049-07-13      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| BXMT Ltd                                                         | BXMT 2025-FL5 Ltd                                                                | CUSIP: 05613YAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     12785000 | PA      | $12825926.06  | 0.08%             | 2042-10-18      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                           | Adient Global Holdings Ltd                                                       | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |      3782000 | PA      | $3868774.21   | 0.02%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2021-C                                          | CUSIP: 83208AAD5<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      1355561 | PA      | $1345936.65   | 0.01%             | 2053-01-15      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | USD C MXN P @18.05000 EO                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |     35595340 | OU      | $2171.32      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Arini European CLO                                               | Arini European CLO V DAC                                                         | CUSIP: 000000000<br>LEI: 635400HVHHJPCXB66K47 | Long             | ABS-CBDO         | CORP              | IE        |      1560000 | PA      | $1828928.77   | 0.01%             | 2039-01-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2019-VI Ltd                                                         | CUSIP: 12555XAN1<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      5200000 | PA      | $5208042.84   | 0.03%             | 2037-07-16      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| METRO Finance Trust                                              | Metro Finance 2025-1 Trust                                                       | CUSIP: 000000000<br>LEI: 984500D1F362E8C1FF34 | Long             | ABS-O            | CORP              | AU        |       510000 | PA      | $367905.27    | 0.00%             | 2031-10-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-NQM1 Trust                                                             | CUSIP: 74391EAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2027420 | PA      | $2044971.17   | 0.01%             | 2069-11-25      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| E-CARAT                                                          | ECARAT DE SA Compartment Lease 2025-1                                            | CUSIP: 000000000<br>LEI: 213800ETWMJRFLJ8U337 | Long             | ABS-O            | CORP              | LU        |       200000 | PA      | $235382.96    | 0.00%             | 2034-05-25      | Floating      | 3.22%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                                         | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc            | CUSIP: 487526AC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1359000 | PA      | $1420581.73   | 0.01%             | 2029-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                   | USD C BRL P @5.300000 EO                                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | KY        |    -14426000 | OU      | $-82545.57    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust                                 | Vista Point Securitization Trust 2024-CES1                                       | CUSIP: 92839HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1125987 | PA      | $1136604.84   | 0.01%             | 2054-05-25      | Variable      | 6.68%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                            | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAH2<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |       643000 | PA      | $661852.76    | 0.00%             | 2032-04-17      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Guaranteed Funding (DK) Limited                                  | DK Trust 2024-SPBX                                                               | CUSIP: 23346LAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4910000 | PA      | $4910000.00   | 0.03%             | 2034-03-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| RevoCar                                                          | REVOCAR SA Compartment 2025-2                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |        97725 | PA      | $114549.74    | 0.00%             | 2038-08-25      | Floating      | 2.99%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                                         | Discovery Communications LLC                                                     | CUSIP: 25470DCC1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |       110000 | PA      | $103409.90    | 0.00%             | 2030-05-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Bridge Street CLO                                                | Bridge Street CLO VI Ltd                                                         | CUSIP: 10806PAA7<br>LEI: 254900PNW8DFFG2S8664 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5011587.50   | 0.03%             | 2039-01-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                              | Petroleos Mexicanos                                                              | CUSIP: 71654QDC3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      2494000 | PA      | $2540139.00   | 0.02%             | 2030-01-23      | Fixed         | 6.84%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                                         | Standard Industries Inc/NY                                                       | CUSIP: 853496AG2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |      1174000 | PA      | $1120905.77   | 0.01%             | 2030-07-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: OIS 1.336000 30-MAR-2028 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5592312367 | OU      | $-12052.17    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch Large Loan Inc                     | BAMLL Trust 2024-BHP                                                             | CUSIP: 05493WAA0<br>LEI: 549300BOMGFOVRYRQK33 | Long             | ABS-MBS          | CORP              | US        |      1800000 | PA      | $1803252.60   | 0.01%             | 2039-08-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                           | Sequoia Mortgage Trust 2026-MED1                                                 | CUSIP: 816940AD2<br>LEI: 549300671OK77JNRLK28 | Long             | ABS-MBS          | CORP              | US        |      5002752 | PA      | $4945096.59   | 0.03%             | 2056-04-25      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.023000 17-DEC-2027 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     22364383 | OU      | $32797.81     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TURKIYE VARLIK FONU                                              | Turkiye Varlik Fonu Yonetimi AS                                                  | CUSIP: 000000000<br>LEI: 789000MAPAG7J8DI3112 | Long             | DBT              | CORP              | TR        |       468000 | PA      | $491400.00    | 0.00%             | 2029-02-14      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                      | FSWP: CLP 4.400000 18-MAR-2028 CLI                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |   3021293230 | OU      | $30263.99     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MENLO CLO                                                        | Menlo Clo IV Ltd                                                                 | CUSIP: 58682QAA3<br>LEI: 254900IC8WYKXV232M24 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2000622.40   | 0.01%             | 2039-03-20      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      1239063 | PA      | $1182065.74   | 0.01%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                                         | Sumitomo Mitsui Financial Group Inc                                              | CUSIP: 86562MDW7<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |      2700000 | PA      | $2692700.28   | 0.02%             | 2035-06-05      | Fixed         | 6.45%                 | No            |                  2 | On Loan: No      |
| Elstree Funding                                                  | Elstree 2026-1 Mix PLC                                                           | CUSIP: 000000000<br>LEI: 213800GBXBLN9YSO6I96 | Long             | ABS-MBS          | CORP              | GB        |      1447000 | PA      | $1970692.28   | 0.01%             | 2066-09-21      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| MOBICO GROUP PLC                                                 | Mobico Group PLC                                                                 | CUSIP: 000000000<br>LEI: 213800A8IQEMY8PA5X34 | Long             | DBT              | CORP              | GB        |      3151000 | PA      | $2813051.63   | 0.02%             | 2031-09-26      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                         | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |      1693000 | PA      | $1760063.12   | 0.01%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: —       |
| WINTERSHALL DEA FIN 2BV                                          | Wintershall Dea Finance 2 BV                                                     | CUSIP: 000000000<br>LEI: 529900DV88FUQZSVVL48 | Long             | DBT              | CORP              | NL        |      8203000 | PA      | $9770354.18   | 0.06%             | 2030-05-08      | Fixed         | 6.12%                 | No            |                  2 | On Loan: No      |
| ION PLAT FIN US/SARL                                             | ION Platform Finance US Inc / ION Platform Finance SARL                          | CUSIP: 46206AAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2908000 | PA      | $2686741.04   | 0.02%             | 2029-08-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Mila B.V.                                                        | Mila 2024-1 BV                                                                   | CUSIP: 000000000<br>LEI: 7245000GAIRCK7Y7VJ68 | Long             | ABS-O            | CORP              | NL        |       279864 | PA      | $328690.17    | 0.00%             | 2041-09-16      | Floating      | 2.67%                 | No            |                  2 | On Loan: No      |
| ARETEC GROUP INC                                                 | Aretec Group Inc                                                                 | CUSIP: 04020JAA4<br>LEI: 549300NV2T8A33L0PQ58 | Long             | DBT              | CORP              | US        |      3350000 | PA      | $3548005.10   | 0.02%             | 2030-08-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                           | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      7762000 | PA      | $8327500.51   | 0.05%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| BBAM US CLO LTD.                                                 | BBAM US CLO VI Ltd                                                               | CUSIP: 05556TAA1<br>LEI: 54930064Z7YZMOXBC128 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5010353.00   | 0.03%             | 2039-01-27      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                                            | SS&C Technologies Inc                                                            | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |      5399000 | PA      | $5394265.08   | 0.03%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-93985.02    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EP INFRASTRUCTURE AS                                             | EP Infrastructure AS                                                             | CUSIP: 000000000<br>LEI: 315700I4J1M1NKGWWY89 | Long             | DBT              | CORP              | CZ        |      4020000 | PA      | $4580068.14   | 0.03%             | 2033-02-27      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ESSENDI SA                                                       | Essendi SA                                                                       | CUSIP: 000000000<br>LEI: 2221000MD2YP7WLTNC52 | Long             | DBT              | CORP              | LU        |      4404000 | PA      | $5211749.40   | 0.03%             | 2032-05-15      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PARAGUAY                                             | Paraguay Government International Bond                                           | CUSIP: 699149CC2<br>LEI: 529900UXKJTJPCU0HK83 | Long             | DBT              | NUSS              | PY        |  48436000000 | PA      | $7910484.23   | 0.05%             | 2038-04-04      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2021-R1                                               | CUSIP: 92538BAA1<br>LEI: 213800278TKDEXPH6140 | Long             | ABS-MBS          | CORP              | US        |       821877 | PA      | $796342.43    | 0.00%             | 2063-10-25      | Variable      | 0.82%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                | EURO-BTP FUTURE JUN26                                                            | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |          441 | NC      | $-190506.14   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Santander Mortgage Asset Receivable Trust                        | Santander Mortgage Asset Receivable Trust 2025-NQM2                              | CUSIP: 802638AA4<br>LEI: 254900FHBJ2YHHBOAU80 | Long             | ABS-MBS          | CORP              | US        |      2734451 | PA      | $2753762.59   | 0.02%             | 2065-02-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| Octagon Investments Partners 36, Ltd.                            | Octagon Investment Partners 36 Ltd                                               | CUSIP: 67591UAG2<br>LEI: 549300S890TBOLY1D042 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250565.60    | 0.00%             | 2031-04-15      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 3.490000 18-MAR-2028 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      6868096 | OU      | $31883.30     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GENMAB A/S/GENMAB FIN                                            | GENMAB A/S/GENMAB FINANCE LLC                                                    | CUSIP: 37230JAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | DK        |      3699000 | PA      | $3856827.05   | 0.02%             | 2033-12-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2018-II Ltd                                                         | CUSIP: 17180WAN5<br>LEI: 635400A7PBKNR7KBOY58 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2510542.50   | 0.01%             | 2037-10-20      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| PUBLIC POWER CORP                                                | Public Power Corp SA                                                             | CUSIP: 000000000<br>LEI: 213800T9Y5XCOVRZ4Y57 | Long             | DBT              | CORP              | GR        |      4688000 | PA      | $5531415.84   | 0.03%             | 2030-10-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                       | BFLD Commercial Mortgage Trust 2025-660F                                         | CUSIP: 05556QAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2108000 | PA      | $2109317.50   | 0.01%             | 2042-11-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                                 | AmWINS Group Inc                                                                 | CUSIP: 031921AC3<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |       340000 | PA      | $343961.68    | 0.00%             | 2029-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| EUSHI FINANCE INC                                                | EUSHI Finance Inc                                                                | CUSIP: 29882DAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       507000 | PA      | $524897.84    | 0.00%             | 2054-12-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2022-IND                                                                | CUSIP: 05609WAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1555623 | PA      | $1555622.53   | 0.01%             | 2037-04-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                                   | Owens-Brockway Glass Container Inc                                               | CUSIP: 69073TAU7<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |      5026000 | PA      | $4803175.96   | 0.03%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Ballyrock Ltd                                                    | Ballyrock CLO 14 Ltd                                                             | CUSIP: 05874XAQ2<br>LEI: 254900GXTF670X967J67 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1004227.10   | 0.01%             | 2037-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2021-C                                          | CUSIP: 83208AAA1<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       197657 | PA      | $180981.00    | 0.00%             | 2053-01-15      | Fixed         | 1.39%                 | No            |                  2 | On Loan: No      |
| Meridian Funding 2025-1 PLC                                      | Meridian Funding 2025-1 PLC                                                      | CUSIP: 000000000<br>LEI: 6354007VNVP2YBYBAX64 | Long             | ABS-MBS          | CORP              | GB        |      2429770 | PA      | $3307615.03   | 0.02%             | 2068-02-20      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                           | Sequoia Mortgage Trust 2021-4                                                    | CUSIP: 81748WAK2<br>LEI: 549300671OK77JNRLK28 | Long             | ABS-MBS          | CORP              | US        |     11357614 | PA      | $10540279.20  | 0.06%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                            | Molina Healthcare Inc                                                            | CUSIP: 60855RAM2<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |      1839000 | PA      | $1837065.56   | 0.01%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2024-6                                    | CUSIP: 92261BAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2973461 | PA      | $2992593.54   | 0.02%             | 2054-12-25      | Variable      | 9.67%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD CLP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $104766.58    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GB29<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     10028000 | PA      | $10143341.05  | 0.06%             | 2030-07-23      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| AMADEUS IT GROUP SA                                              | Amadeus IT Group SA                                                              | CUSIP: 000000000<br>LEI: 9598004A3FTY3TEHHN09 | Long             | DBT              | CORP              | ES        |      3000000 | PA      | $3496724.54   | 0.02%             | 2030-03-25      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                               | Viking Cruises Ltd                                                               | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |      1553000 | PA      | $1557168.97   | 0.01%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| Cross Mortgage Trust                                             | Cross 2024-H2 Mortgage Trust                                                     | CUSIP: 22757BAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3095796 | PA      | $3115057.39   | 0.02%             | 2069-04-25      | Variable      | 6.09%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | SWP: OIS 13.310000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |      4624070 | OU      | $-19968.17    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                                              | Turkiye Government International Bond                                            | CUSIP: 900123DR8<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      2527000 | PA      | $2490990.25   | 0.01%             | 2035-09-16      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $-9929.56     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ENCORE CAPITAL GROUP INC                                         | Encore Capital Group Inc                                                         | CUSIP: 000000000<br>LEI: 5493000UVC6H49CIH830 | Long             | DBT              | CORP              | US        |      3445000 | PA      | $4496389.05   | 0.03%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CZK 3.580000 18-MAR-2031 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     67965478 | OU      | $115723.94    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding LXI Ltd                                                     | CUSIP: 55822NAW9<br>LEI: 2138008EAUXBYEZRP521 | Long             | ABS-CBDO         | CORP              | JE        |      1300000 | PA      | $1301338.09   | 0.01%             | 2039-01-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: OIS 2.887500 30-MAR-2056 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1608825026 | OU      | $-476182.34   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | USD P HUF C @320.0000 EO                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | KY        |     -7181000 | OU      | $-229411.41   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Arini European CLO                                               | Arini European Clo IV DAC                                                        | CUSIP: 000000000<br>LEI: 635400S1CQWFRKNVAN93 | Long             | ABS-CBDO         | CORP              | IE        |      1660000 | PA      | $1952140.58   | 0.01%             | 2038-01-15      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Providus CLO                                                     | Providus Clo XIV DAC                                                             | CUSIP: 000000000<br>LEI: 635400RHQLITOVVAUF62 | Long             | ABS-CBDO         | CORP              | IE        |      2773000 | PA      | $3235666.35   | 0.02%             | 2040-04-18      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| PATRICK TERMINALS FIN PT                                         | Patrick Terminals Finance Pty Ltd                                                | CUSIP: 000000000<br>LEI: 9845009C9611092B6G88 | Long             | DBT              | CORP              | AU        |      6830000 | PA      | $4598621.30   | 0.03%             | 2035-10-22      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                                | Rakuten Group Inc                                                                | CUSIP: 000000000<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |      1000000 | PA      | $1097011.38   | 0.01%             | 2029-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CNY 1.510000 17-DEC-2028 CNR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     25006700 | OU      | $3478.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.780000 14-DEC-2029 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     13457190 | OU      | $-2749.74     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 6.960500 19-OCT-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    310095900 | OU      | $-32236.53    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Crown Point CLO Ltd                                              | Crown Point CLO 11 Ltd                                                           | CUSIP: 22845JAJ0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004038.00   | 0.01%             | 2038-02-28      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Student Loan Trust 2019-B                                                | CUSIP: 63941LAB9<br>LEI: 549300761SV59SBM0Z40 | Long             | ABS-O            | CORP              | US        |       397056 | PA      | $392283.55    | 0.00%             | 2059-12-15      | Fixed         | 3.39%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2023-C                                          | CUSIP: 83207DAA6<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      1541342 | PA      | $1567805.88   | 0.01%             | 2052-11-15      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                             | LifePoint Health Inc                                                             | CUSIP: 53219LBA6<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |      1972000 | PA      | $1922832.08   | 0.01%             | 2034-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2024-1 PLC                                              | CUSIP: 000000000<br>LEI: 635400RGKRFPCFMYJF13 | Long             | ABS-MBS          | CORP              | GB        |      1057940 | PA      | $1441456.64   | 0.01%             | 2067-02-15      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                | Herc Holdings Inc                                                                | CUSIP: 42704LAE4<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |       965000 | PA      | $988786.29    | 0.01%             | 2029-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| Quarzo Srl                                                       | Quarzo Srl                                                                       | CUSIP: 000000000<br>LEI: 815600702F68B2ED0B22 | Long             | ABS-O            | CORP              | IT        |       179137 | PA      | $211488.89    | 0.00%             | 2041-06-15      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| UK Logisitics                                                    | UK Logistics 2025-2 DAC                                                          | CUSIP: 000000000<br>LEI: 635400CRV6HKMHJF8S64 | Long             | ABS-MBS          | CORP              | IE        |      1142987 | PA      | $1558736.84   | 0.01%             | 2035-08-17      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| IHS HOLDING LTD                                                  | IHS Holding Ltd                                                                  | CUSIP: 44963HAB1<br>LEI: 213800CLGMKL63VKTD94 | Long             | DBT              | CORP              | KY        |       507000 | PA      | $504465.00    | 0.00%             | 2028-11-29      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Madison Park Funding Ltd                                         | Madison Park Funding XXXIV Ltd                                                   | CUSIP: 55819GBE8<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1467482.70   | 0.01%             | 2037-10-16      | Floating      | 7.03%                 | No            |                  2 | On Loan: No      |
| Summer Issuer, LLC                                               | Summit Issuer LLC                                                                | CUSIP: 86613XAN5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4456000 | PA      | $4458607.65   | 0.03%             | 2055-11-20      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                         | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      1752000 | PA      | $1767720.70   | 0.01%             | 2029-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| MAIN Trust                                                       | MAIN Trust 2026-OLAS                                                             | CUSIP: 56036BAN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1600000 | PA      | $1599967.12   | 0.01%             | 2041-01-15      | Floating      | 10.90%                | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2022-VAMF                                                               | CUSIP: 05609TAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        45662 | PA      | $45647.25     | 0.00%             | 2039-01-15      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                                     | AGL CLO 30 Ltd                                                                   | CUSIP: 00120VAJ5<br>LEI: 54930001FXLJVDHJU506 | Long             | ABS-CBDO         | CORP              | JE        |       400000 | PA      | $399003.28    | 0.00%             | 2037-04-21      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F060659<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    276369000 | PA      | $282126465.48 | 1.67%             | 2056-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO Ltd                                                | Park Blue CLO 2025-X LTD                                                         | CUSIP: 70019YAA5<br>LEI: 2138008W8XU9WO8BZO09 | Long             | ABS-CBDO         | CORP              | KY        |      6000000 | PA      | $6014152.20   | 0.04%             | 2039-01-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED EGP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | EG        |            1 | NC      | $-352390.96   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Elm CLO Ltd                                                      | ELM Trust 2024-ELM                                                               | CUSIP: 26860XBE0<br>LEI: 254900IIXJ23M1M8Y987 | Long             | ABS-MBS          | CORP              | US        |      1250000 | PA      | $1248968.88   | 0.01%             | 2039-06-10      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| NCR VOYIX CORP                                                   | NCR Voyix Corp                                                                   | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |       527000 | PA      | $516062.22    | 0.00%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 19B-R3 Ltd                                            | CUSIP: 38181YAG1<br>LEI: 2549003VC5PGFRGCQU51 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3003315.30   | 0.02%             | 2036-10-20      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2020-NQM2 Trust                                                             | CUSIP: 36166RAB0<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |       178783 | PA      | $173815.70    | 0.00%             | 2065-04-25      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| CITYCON TREASURY BV                                              | Citycon Treasury BV                                                              | CUSIP: 000000000<br>LEI: 549300WAE0CGQ0IE1H63 | Long             | DBT              | CORP              | NL        |      2140000 | PA      | $2346419.66   | 0.01%             | 2028-03-12      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.690000 30-JUL-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    312988000 | OU      | $-51592.30    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |       150000 | PA      | $140352.80    | 0.00%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2025-2 DAC                                             | CUSIP: 000000000<br>LEI: 635400FJ7YX914D6HX74 | Long             | ABS-O            | CORP              | IE        |       100000 | PA      | $117094.33    | 0.00%             | 2035-10-18      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                         | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AD1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2740000 | PA      | $2753439.70   | 0.02%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BT7D9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3674845 | PA      | $3720523.12   | 0.02%             | 2054-12-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F032666<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    436500000 | PA      | $397035803.66 | 2.35%             | 2056-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2025-3 Ltd                                            | CUSIP: 696917AA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $972229.10    | 0.01%             | 2034-01-15      | Floating      | 8.11%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                      | FSWP: OIS 8.780000 17-SEP-2026 IBR                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |   1230539655 | OU      | $5857.34      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                                  | Adapthealth LLC                                                                  | CUSIP: 00653VAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000000 | PA      | $1936671.60   | 0.01%             | 2029-08-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| Atrium Hotel Portfolio Trust                                     | Atrium Hotel Portfolio Trust 2024-ATRM                                           | CUSIP: 04963XAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7900000 | PA      | $7980518.38   | 0.05%             | 2029-11-10      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                           | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      1199000 | PA      | $1361906.96   | 0.01%             | 2028-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| BRCK Trust                                                       | BRCK Trust 2025-830B                                                             | CUSIP: 10635AAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4100000 | PA      | $4092268.22   | 0.02%             | 2042-12-10      | Variable      | 8.40%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                                           | Energizer Holdings Inc                                                           | CUSIP: 29272WAG4<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |      2441000 | PA      | $2334335.38   | 0.01%             | 2033-09-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| ENERGEAN PLC                                                     | Energean PLC                                                                     | CUSIP: 000000000<br>LEI: 549300RVMKU0CYUZBB05 | Long             | DBT              | CORP              | GB        |      3009000 | PA      | $3477820.71   | 0.02%             | 2031-05-12      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2024-35 Ltd                                                              | CUSIP: 671064AA1<br>LEI: 2138008SMV573POQTV86 | Long             | ABS-CBDO         | CORP              | JE        |      2500000 | PA      | $2470012.25   | 0.01%             | 2037-10-25      | Floating      | 9.57%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $-74165.97    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FORVIA SE                                                        | Forvia SE                                                                        | CUSIP: 31209DAC9<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |      4413000 | PA      | $4425563.81   | 0.03%             | 2033-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Canyon Capital CLO Ltd                                           | Canyon Capital CLO 2016-1 Ltd                                                    | CUSIP: 13887PAK1<br>LEI: 25490032WO5XW3V7KL43 | Long             | ABS-CBDO         | CORP              | KY        |       219251 | PA      | $219254.43    | 0.00%             | 2031-07-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | 1Y RTP 5.200000 24-APR-2028                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | KY        |   -491297000 | OU      | $-1611590.59  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-RCF4 LLC                                                               | CUSIP: 69382WAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1166667 | PA      | $1131219.81   | 0.01%             | 2055-08-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAJ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2665000 | PA      | $2679135.16   | 0.02%             | 2030-12-31      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MOLOSSUS BTL                                                     | Molossus Btl 2025-1 PLC                                                          | CUSIP: 000000000<br>LEI: 635400EK2YUIDKJ84N95 | Long             | ABS-MBS          | CORP              | GB        |       156081 | PA      | $212572.63    | 0.00%             | 2063-03-17      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| CD&R Firefly Bidco Limited                                       | CD&R Firefly Bidco Limited 2025 EUR Term Loan                                    | CUSIP: 000000000<br>LEI: 213800OAU5VX61DYZ558 | Long             | LON              | CORP              | GB        |      1000000 | PA      | $1181102.36   | 0.01%             | 2029-04-30      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-INV1                                             | CUSIP: 92540FAE0<br>LEI: 9845000FE754F4AE7E70 | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $1012581.70   | 0.01%             | 2069-03-25      | Variable      | 8.09%                 | No            |                  2 | On Loan: No      |
| LoanCore 2018-CRE1 Issuer, Ltd.                                  | LoanCore 2025-CRE9 Issuer LLC                                                    | CUSIP: 538912AA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     11143000 | PA      | $11122305.22  | 0.07%             | 2042-08-18      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | FSWP: OIS 8.730000 17-SEP-2026 IBR                                               | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |   1140814394 | OU      | $5582.23      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TENNECO INC                                                      | Tenneco Inc                                                                      | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |      5462000 | PA      | $5526899.48   | 0.03%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| Westways Funding Ltd                                             | WEST Trust 2025-ROSE                                                             | CUSIP: 955909AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4126000 | PA      | $4149318.50   | 0.02%             | 2035-04-10      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| HUBBELL INC                                                      | Hubbell Inc                                                                      | CUSIP: 443510AJ1<br>LEI: 54930088VDQ6840Y6597 | Long             | DBT              | CORP              | US        |      8500000 | PA      | $8368459.36   | 0.05%             | 2028-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| Deephaven Residential Mortgage Trust                             | Deephaven Residential Mortgage Trust 2025-INV1                                   | CUSIP: 24382EAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1857200 | PA      | $1833490.43   | 0.01%             | 2060-11-25      | Variable      | 6.68%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                                  | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AD6<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |      2026000 | PA      | $1940973.03   | 0.01%             | 2030-01-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                         | Foundation Finance Trust 2021-2                                                  | CUSIP: 35042PAA8<br>LEI: 54930021B3TF4B4HKE86 | Long             | ABS-O            | CORP              | US        |       246390 | PA      | $234674.37    | 0.00%             | 2042-01-15      | Fixed         | 2.19%                 | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                              | Kinetik Holdings LP                                                              | CUSIP: 49461MAA8<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |        21000 | PA      | $21071.04     | 0.00%             | 2030-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                                           | Comstock Resources Inc                                                           | CUSIP: 205768AU8<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |      8097000 | PA      | $8069746.31   | 0.05%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GREENKO WIND PROJECTS MU                                         | Greenko Wind Projects Mauritius Ltd                                              | CUSIP: 39531JAB0<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | CORP              | MU        |      3554865 | PA      | $3586858.79   | 0.02%             | 2028-09-27      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Three Sarl               | CUSIP: 000000000<br>LEI: 213800WQKYRCMTF4FR47 | Long             | ABS-O            | CORP              | LU        |        76353 | PA      | $90271.43     | 0.00%             | 2034-03-21      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                          | VZ Secured Financing BV                                                          | CUSIP: 91845AAB1<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |      1000000 | PA      | $969312.00    | 0.01%             | 2033-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| KERSIA INTERNATIONAL                                             | Kersia International 2026 EUR Term Loan                                          | CUSIP: 000000000<br>LEI: 969500J08NJW6YSO2H50 | Long             | LON              | CORP              | FR        |      2414250 | PA      | $2831727.00   | 0.02%             | 2030-12-18      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                      | USD C THB P @32.7000 EO                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |     14431000 | OU      | $92488.28     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VF CORP                                                          | VF Corp                                                                          | CUSIP: 918204BC1<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |       612000 | PA      | $555274.45    | 0.00%             | 2030-04-23      | Fixed         | 2.95%                 | No            |                  2 | On Loan: —       |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.837500 04-JAN-2027 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     17389313 | OU      | $17728.22     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DBMS                                                             | DBMS 2025-1 DAC                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |       497000 | PA      | $676159.38    | 0.00%             | 2036-02-18      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| ALSTRIA S.A R.L.                                                 | alstria Sarl                                                                     | CUSIP: 000000000<br>LEI: 529900QIJIGPI0DRL085 | Long             | DBT              | CORP              | LU        |     22300000 | PA      | $26000235.73  | 0.15%             | 2031-03-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.402000 17-JUN-2031 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     63752000 | OU      | $136313.39    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BPER BANCA                                                       | BPER Banca SPA                                                                   | CUSIP: 000000000<br>LEI: N747OI7JINV7RUUH6190 | Long             | DBT              | CORP              | IT        |      5000000 | PA      | $6058907.83   | 0.04%             | 2030-03-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 7.507500 17-JUN-2031 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    294939000 | OU      | $-131073.69   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | Lendingclub Rated Notes Issuer Trust Series 2026-P1                              | CUSIP: 52611WAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       476516 | PA      | $451652.26    | 0.00%             | 2037-08-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PHILIPPINES                                          | Philippine Government International Bond                                         | CUSIP: 718286CY1<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |      3419000 | PA      | $3438864.39   | 0.02%             | 2028-07-17      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XL-R Ltd                                                    | CUSIP: 55823RAG4<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |      3500000 | PA      | $3507749.00   | 0.02%             | 2038-10-16      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $31144.53     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2025-NQM4                                    | CUSIP: 36272UAE8<br>LEI: 25490076N7JFR2Y3CU63 | Long             | ABS-MBS          | CORP              | US        |      1326000 | PA      | $1313925.84   | 0.01%             | 2065-10-25      | Variable      | 7.28%                 | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2024-2 DAC                                             | CUSIP: 000000000<br>LEI: 635400WJJIABFKEPEL72 | Long             | ABS-O            | CORP              | IE        |        68871 | PA      | $81134.77     | 0.00%             | 2034-10-18      | Floating      | 3.65%                 | No            |                  2 | On Loan: No      |
| CITADEL PLC                                                      | Citadel 2024-1 PLC                                                               | CUSIP: 000000000<br>LEI: 213800XKX6NBEB5W9Z43 | Long             | ABS-MBS          | CORP              | GB        |      1193830 | PA      | $1628685.47   | 0.01%             | 2060-04-28      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman Loan Advisers Clo 56 Ltd                                        | CUSIP: 64135TAJ9<br>LEI: 2549001742TZTUKJHB13 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1003004.00   | 0.01%             | 2037-07-24      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                         | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |       169000 | PA      | $171936.51    | 0.00%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VICINITY CENTRES RE LTD                                          | Vicinity Centres Trust                                                           | CUSIP: 000000000<br>LEI: 254900YANM8VTQCFYX66 | Long             | DBT              | CORP              | AU        |      1660000 | PA      | $1148471.87   | 0.01%             | 2036-03-03      | Fixed         | 5.84%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SENEGAL                                              | Senegal Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300NP14ZLQGWIUZ97 | Long             | DBT              | NUSS              | SN        |      4516667 | PA      | $3471614.72   | 0.02%             | 2028-03-13      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALCOA NEDERLAND HOLDING                                          | Alcoa Nederland Holding BV                                                       | CUSIP: 013822AH4<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |      2555000 | PA      | $2629288.62   | 0.02%             | 2031-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                                             | Commercial Metals Co                                                             | CUSIP: 201723AV5<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |       900000 | PA      | $899109.72    | 0.01%             | 2035-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | MX        |            1 | NC      | $-1798.55     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PINNACLE BIDCO PLC                                               | Pinnacle Bidco PLC                                                               | CUSIP: 000000000<br>LEI: 2138006Z5V8OBL2A2Q06 | Long             | DBT              | CORP              | GB        |      5632000 | PA      | $7990283.76   | 0.05%             | 2028-10-11      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                                           | Edgewell Personal Care Co                                                        | CUSIP: 28035QAA0<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |       830000 | PA      | $828298.06    | 0.00%             | 2028-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MEDCO MAPLE TREE PTE LTD                                         | Medco Maple Tree Pte Ltd                                                         | CUSIP: 000000000<br>LEI: 254900T5AQZNR0THA508 | Long             | DBT              | CORP              | SG        |      1963000 | PA      | $2026797.50   | 0.01%             | 2029-04-27      | Fixed         | 8.96%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                   | Morgan Stanley Capital I Trust 2018-H3                                           | CUSIP: 61767YBC3<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |       650000 | PA      | $640315.26    | 0.00%             | 2051-07-15      | Variable      | 4.43%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2024-3 Ltd                                            | CUSIP: 69690EAQ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3001500.00   | 0.02%             | 2032-08-08      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| First Mobility Sarl                                              | First Mobility Sarl - Compartment Swiss Lease 2025-1                             | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       300000 | PA      | $351743.87    | 0.00%             | 2032-10-14      | Floating      | 2.90%                 | No            |                  2 | On Loan: No      |
| VEGAS Trust                                                      | VEGAS 2024-GCS                                                                   | CUSIP: 92254BAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3506000 | PA      | $3480420.57   | 0.02%             | 2036-07-10      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                             | Colombian TES                                                                    | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  18868100000 | PA      | $3048410.90   | 0.02%             | 2050-10-26      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                                                | Wellfleet CLO 2022-1 Ltd                                                         | CUSIP: 94950TAQ2<br>LEI: 2549008BRKHJZB917M86 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2002237.40   | 0.01%             | 2037-07-15      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO XVI, LTD.                                       | Sixth Street CLO XII Ltd                                                         | CUSIP: 829928AG5<br>LEI: 2549009LM706L5P4IH84 | Long             | ABS-CBDO         | CORP              | KY        |      1025000 | PA      | $1027560.66   | 0.01%             | 2039-01-17      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Bridge Street CLO                                                | Bridge Street CLO II Ltd                                                         | CUSIP: 10806JAN3<br>LEI: 254900PNW8DFFG2S8664 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004339.60   | 0.01%             | 2039-01-20      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BSQY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4493245 | PA      | $4530055.70   | 0.03%             | 2054-09-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| ZF EUROPE FINANCE BV                                             | ZF Europe Finance BV                                                             | CUSIP: 000000000<br>LEI: 549300RI533US2G6G542 | Long             | DBT              | CORP              | NL        |      4300000 | PA      | $4724647.88   | 0.03%             | 2029-10-23      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust                                     | JW Commercial Mortgage Trust 2024-MRCO                                           | CUSIP: 46657XAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6805000 | PA      | $6805000.00   | 0.04%             | 2039-06-15      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| SV VANIR LOGISTICS FINANCE S.A R.L                               | Vanir Logistics Finance Sarl                                                     | CUSIP: 000000000<br>LEI: 636700UXUGBCCF9PA752 | Long             | ABS-MBS          | CORP              | LU        |       649999 | PA      | $760450.06    | 0.00%             | 2037-07-23      | Floating      | 3.68%                 | No            |                  2 | On Loan: No      |
| AZUL SECURED FINANCE LLP                                         | Azul Secured Finance LLP                                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       450000 | PA      | $399937.50    | 0.00%             | 2031-02-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| POST HOLDINGS INC                                                | Post Holdings Inc                                                                | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |      1455000 | PA      | $1367901.37   | 0.01%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EDGE FINCO PLC                                                   | Edge Finco PLC                                                                   | CUSIP: 000000000<br>LEI: 648835NI8LJE5190NT73 | Long             | DBT              | CORP              | GB        |     20254000 | PA      | $28296480.80  | 0.17%             | 2031-08-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2025-NQM4                                    | CUSIP: 64832FAG1<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      3500000 | PA      | $3436654.73   | 0.02%             | 2065-07-25      | Variable      | 7.01%                 | No            |                  2 | On Loan: No      |
| Republic of Poland Government International Bonds                | Republic of Poland Government International Bonds                                | CUSIP: 857524AF9<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |      6108000 | PA      | $6247628.88   | 0.04%             | 2030-02-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                                   | ARES Commercial Mortgage Trust 2024-IND                                          | CUSIP: 03990DAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8030000 | PA      | $8045056.25   | 0.05%             | 2041-07-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                                         | Mill City Mortgage Loan Trust 2026-R1                                            | CUSIP: 59980FAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16703513 | PA      | $16730390.44  | 0.10%             | 2062-10-25      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CZK 4.436000 17-JUN-2031 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    182904566 | OU      | $12745.88     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | FSWP: OIS 10.780000 18-MAR-2028 IB                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |   5633786037 | OU      | $-37871.94    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Funding                                                    | Atlas Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800W2FS9Z1VKVEA38 | Long             | ABS-MBS          | CORP              | GB        |       632000 | PA      | $860386.37    | 0.01%             | 2067-07-20      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L                                         | Fortescue Treasury Pty Ltd                                                       | CUSIP: 30251GBD8<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |      1455000 | PA      | $1484595.27   | 0.01%             | 2030-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS II LLC                                            | QTS Issuer ABS II LLC                                                            | CUSIP: 74690FAU0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2431000 | PA      | $2406632.63   | 0.01%             | 2056-01-05      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                                         | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AP1<br>LEI: N/A                  | Long             | DBT              |  | US        |      1507000 | PA      | $1475549.51   | 0.01%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| LQR Trust                                                        | LQR Trust 2025-CALI                                                              | CUSIP: 50216WAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3542000 | PA      | $3521144.35   | 0.02%             | 2043-01-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                       | Bear Stearns Asset Backed Securities I Trust 2006-HE9                            | CUSIP: 07389MAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2036091 | PA      | $2078449.13   | 0.01%             | 2036-11-25      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                                | Chord Energy Corp                                                                | CUSIP: 674215AN8<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |       106000 | PA      | $110300.63    | 0.00%             | 2033-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AXALTA COAT/DUTCH HLD BV                                         | Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV           | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      1875000 | PA      | $1866454.29   | 0.01%             | 2027-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Commercial Mortgage Trust                          | DBJPM 2017-C6 Mortgage Trust                                                     | CUSIP: 23312JAH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       250000 | PA      | $243003.30    | 0.00%             | 2050-06-10      | Variable      | 3.56%                 | No            |                  2 | On Loan: No      |
| Regatta XVIII Funding Ltd                                        | Regatta XVIII Funding Ltd                                                        | CUSIP: 75884EAS1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       670000 | PA      | $672684.96    | 0.00%             | 2038-04-15      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | MX        |            1 | NC      | $-75486.03    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Colombia Government International Bonds                          | Colombia Government International Bonds                                          | CUSIP: 195325EF8<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      1901000 | PA      | $2047377.00   | 0.01%             | 2033-04-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                           | Sequoia Mortgage Trust 2024-HYB1                                                 | CUSIP: 81749EAA3<br>LEI: 549300671OK77JNRLK28 | Long             | ABS-MBS          | CORP              | US        |      5091830 | PA      | $5083353.04   | 0.03%             | 2063-11-25      | Variable      | 4.43%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                                          | Sasol Financing USA LLC                                                          | CUSIP: 80386WAG0<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |       200000 | PA      | $209850.00    | 0.00%             | 2033-04-10      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| INDONESIA GOVERNMENT                                             | Indonesia Treasury Bond                                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        | 356905000000 | PA      | $20700902.37  | 0.12%             | 2027-05-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                             | SoFi Professional Loan Program 2021-B Trust                                      | CUSIP: 83405NAA4<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |      1413378 | PA      | $1264958.25   | 0.01%             | 2047-02-15      | Fixed         | 1.14%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2025-NQM2                                        | CUSIP: 10569NAC5<br>LEI: 254900TZWRKTBX2YNW23 | Long             | ABS-MBS          | CORP              | US        |      2519937 | PA      | $2536277.44   | 0.02%             | 2064-11-25      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                                 | Peruvian Government International Bond                                           | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     27589000 | PA      | $8274757.34   | 0.05%             | 2039-08-12      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2025-NQM5                                    | CUSIP: 36273GAE8<br>LEI: 254900MQ3DUBXKU1DC81 | Long             | ABS-MBS          | CORP              | US        |      1666667 | PA      | $1658514.50   | 0.01%             | 2065-07-25      | Variable      | 6.74%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                             | Deephaven Residential Mortgage Trust 2026-INV1                                   | CUSIP: 24381GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10949684 | PA      | $10883444.00  | 0.06%             | 2070-12-25      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| Auto ABS                                                         | Auto Abs Spanish Loans 2026-1                                                    | CUSIP: 000000000<br>LEI: 9598007ZVMKDJKZFAC54 | Long             | ABS-O            | CORP              | ES        |       500000 | PA      | $585779.71    | 0.00%             | 2038-12-28      | Floating      | 3.23%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD CLP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $22698.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HalseyPoint CLO I, Ltd.                                          | Halseypoint Clo 6 Ltd                                                            | CUSIP: 40639GAN9<br>LEI: 5493001PG85K1980W896 | Long             | ABS-CBDO         | CORP              | KY        |      1100000 | PA      | $1102669.15   | 0.01%             | 2038-01-20      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| PACIFICORP                                                       | PacifiCorp                                                                       | CUSIP: 695114DF2<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |      1776000 | PA      | $1800634.88   | 0.01%             | 2055-09-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ZF EUROPE FINANCE BV                                             | ZF Europe Finance BV                                                             | CUSIP: 000000000<br>LEI: 549300RI533US2G6G542 | Long             | DBT              | CORP              | NL        |      4900000 | PA      | $5902519.83   | 0.04%             | 2029-03-13      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                    | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      2933000 | PA      | $3039379.91   | 0.02%             | 2031-12-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4828000 | PA      | $4822672.30   | 0.03%             | 2027-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                                                    | TopBuild Corp                                                                    | CUSIP: 89055FAB9<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |      1198000 | PA      | $1190782.89   | 0.01%             | 2029-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| PFP III                                                          | PFP 2024-11 Ltd                                                                  | CUSIP: 69291WAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       870635 | PA      | $870684.42    | 0.01%             | 2039-09-17      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| HIH Trust                                                        | HIH Trust 2024-61P                                                               | CUSIP: 40444VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3743902 | PA      | $3746241.53   | 0.02%             | 2041-10-15      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                            | ARI Fleet Lease Trust 2024-A                                                     | CUSIP: 00218KAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       829000 | PA      | $837641.66    | 0.00%             | 2032-11-15      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital Clo 32 Ltd                                                     | CUSIP: 03333MAG8<br>LEI: 63670045P01T5CDEDN27 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2011532.40   | 0.01%             | 2037-07-15      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                               | Regional Management Issuance Trust 2024-1                                        | CUSIP: 758983AD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3844000 | PA      | $3914881.44   | 0.02%             | 2036-07-15      | Fixed         | 7.46%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman CLO XVII Ltd                                                    | CUSIP: 64129UCC7<br>LEI: 549300XVEYZNG956Y145 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3004180.80   | 0.02%             | 2038-07-22      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Golub Capital Private Credit Fund CLO                            | Golub Capital Private Credit Fund CLO 2                                          | CUSIP: 38181WAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |       500000 | PA      | $497066.05    | 0.00%             | 2039-10-18      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Mortimer BTL Plc                                                 | Mortimer 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800PI5SCJ8WPLJX58 | Long             | ABS-MBS          | CORP              | GB        |       344000 | PA      | $469600.50    | 0.00%             | 2070-09-22      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                         | Univision Communications Inc                                                     | CUSIP: 914906BB7<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |      3398000 | PA      | $3416520.66   | 0.02%             | 2033-04-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                         | Olympus Water US Holding Corp                                                    | CUSIP: 000000000<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |      1421000 | PA      | $1574308.07   | 0.01%             | 2029-10-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Sapphire Trust                                                   | SAPPHIRE XXXIII SERIES 2025-2 TRUST                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      4160000 | PA      | $2985468.67   | 0.02%             | 2067-02-12      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | 2Y RTP 4.000000 08-DEC-2027                                                      | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              |  | US        |   -260459300 | OU      | $-1584274.95  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2025-2 PLC                                              | CUSIP: 000000000<br>LEI: 213800WUDDAGMT94UJ09 | Long             | ABS-MBS          | CORP              | GB        |      9829000 | PA      | $13398709.76  | 0.08%             | 2068-01-17      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HKL85<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     18442129 | PA      | $18664909.63  | 0.11%             | 2055-03-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                          | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92841HAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |       290000 | PA      | $293154.24    | 0.00%             | 2028-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: —       |
| IVORY COAST                                                      | Ivory Coast Government International Bond                                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |      1314000 | PA      | $1546524.62   | 0.01%             | 2031-10-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                                                  | Oaktree CLO 2019-3 Ltd                                                           | CUSIP: 67400EBE3<br>LEI: 254900U83NJDV6PRP726 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3005530.50   | 0.02%             | 2038-01-20      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                                   | Trust Fibra Uno                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              |  | MX        |      2872000 | PA      | $3094608.72   | 0.02%             | 2032-01-23      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| Regatta XXVIII Funding Ltd.                                      | Regatta XXVIII Funding Ltd                                                       | CUSIP: 75901PAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      9100000 | PA      | $9112025.65   | 0.05%             | 2037-04-25      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2024-1                                                  | CUSIP: 03465XAA7<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      1057638 | PA      | $1056277.87   | 0.01%             | 2068-08-25      | Variable      | 5.21%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2024-VLT4                                                               | CUSIP: 05612TAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5675442 | PA      | $5617967.29   | 0.03%             | 2041-06-15      | Floating      | 7.59%                 | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | Lendingclub Rated Notes Issuer Trust Series 2026-P1                              | CUSIP: 52611WAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1920216 | PA      | $1984269.32   | 0.01%             | 2037-08-15      | Fixed         | 6.98%                 | No            |                  2 | On Loan: No      |
| AlixPartners LLP                                                 | AlixPartners LLP 2025 EUR Term Loan                                              | CUSIP: 01642PBD7<br>LEI: 5493005G2MHUFTGARL57 | Long             | LON              | CORP              | US        |      2964127 | PA      | $3486361.33   | 0.02%             | 2032-08-12      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Dowson 2026-1 Plc                                                | Dowson 2026-1 PLC                                                                | CUSIP: 000000000<br>LEI: 213800ARUDISHV4A5218 | Long             | ABS-O            | CORP              | GB        |       487000 | PA      | $662680.47    | 0.00%             | 2033-05-20      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F032658<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   1047533507 | PA      | $953398322.56 | 5.65%             | 2056-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                 | Symphony CLO XIX Ltd                                                             | CUSIP: 87165YAC7<br>LEI: 549300JQYSBIW1AM8R32 | Long             | ABS-CBDO         | CORP              | KY        |        32389 | PA      | $32389.93     | 0.00%             | 2031-04-16      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| VOYAGER PARENT LLC                                               | Voyager Parent LLC                                                               | CUSIP: 92921EAA0<br>LEI: 2549002DYVI4ACSV4V71 | Long             | DBT              | CORP              | US        |      4496000 | PA      | $4781239.73   | 0.03%             | 2032-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO 42 Ltd                                               | CUSIP: 08187LAA9<br>LEI: 254900TPMKEES6UQHQ33 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5010515.50   | 0.03%             | 2038-10-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                               | Energy Transfer LP                                                               | CUSIP: 29273VBH2<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |       794000 | PA      | $799705.68    | 0.00%             | 2056-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SUMMER BC HOLDCO B SARL                                          | Summer BC Holdco B SARL                                                          | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | DBT              | CORP              | LU        |      6869000 | PA      | $7018117.25   | 0.04%             | 2030-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 43B Ltd                                               | CUSIP: 38180PAA4<br>LEI: 2549006E2S3MDN9M6Q69 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3007093.50   | 0.02%             | 2037-10-20      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2026-NQMR1 Trust                                                             | CUSIP: 59319RAB8<br>LEI: 254900JLX6F11Q52FZ32 | Long             | ABS-MBS          | CORP              | US        |      5300000 | PA      | $5307791.53   | 0.03%             | 2067-11-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| WBI OPERATING LLC                                                | WBI Operating LLC                                                                | CUSIP: 92944BAA9<br>LEI: 254900POBWB4RX0ODY78 | Long             | DBT              | CORP              | US        |      2608000 | PA      | $2644277.28   | 0.02%             | 2030-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FORVIA SE                                                        | Forvia SE                                                                        | CUSIP: 31209DAA3<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |      1053000 | PA      | $1107581.20   | 0.01%             | 2030-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| ENTEGRIS INC                                                     | Entegris Inc                                                                     | CUSIP: 29362UAD6<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |       200000 | PA      | $190755.52    | 0.00%             | 2029-05-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: —       |
| ATLX Trust                                                       | ATLX 2024-RPL1 Trust                                                             | CUSIP: 049915AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6039282 | PA      | $5877943.41   | 0.03%             | 2064-04-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2024-5                                    | CUSIP: 92261AAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       339567 | PA      | $337234.94    | 0.00%             | 2054-10-25      | Fixed         | 6.76%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBX0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       590000 | PA      | $583074.90    | 0.00%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GOLDSTORY SASU                                                   | Goldstory SAS                                                                    | CUSIP: 000000000<br>LEI: 969500NWR67ONUJD4A26 | Long             | DBT              | CORP              | FR        |     10555000 | PA      | $12333684.54  | 0.07%             | 2030-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                | Post Holdings Inc                                                                | CUSIP: 737446AU8<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |      1612000 | PA      | $1642784.36   | 0.01%             | 2032-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital Clo 34 Ltd                                                     | CUSIP: 03332UAJ5<br>LEI: 63670045P01T5CDEDN27 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3019071.00   | 0.02%             | 2039-01-15      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CZK 3.787500 17-DEC-2030 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    518746134 | OU      | $-595979.44   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UK Logisitics                                                    | UK Logistics 2024-2 DAC                                                          | CUSIP: 000000000<br>LEI: 635400LLQ82YFJBFFU27 | Long             | ABS-MBS          | CORP              | GB        |       186243 | PA      | $250454.44    | 0.00%             | 2035-02-17      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| Castell                                                          | Castell 2025-1 PLC                                                               | CUSIP: 000000000<br>LEI: 2138002O8DSFIQGKRU14 | Long             | ABS-MBS          | CORP              | GB        |        99999 | PA      | $137481.14    | 0.00%             | 2062-01-27      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| KSL Resorts                                                      | KSL Commercial Mortgage Trust 2024-HT2                                           | CUSIP: 500937AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6973715 | PA      | $6973709.80   | 0.04%             | 2039-12-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                          | WaMu Mortgage Pass-Through Certificates Series 2006-AR11 Trust                   | CUSIP: 93363TAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        32421 | PA      | $27480.84     | 0.00%             | 2046-09-25      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDI O2 VI DAC                                            | Virgin Media O2 Vendor Financing Notes VI DAC                                    | CUSIP: 92769UAA9<br>LEI: 9845001E591J5060A412 | Long             | DBT              | CORP              | IE        |      8289000 | PA      | $7439786.15   | 0.04%             | 2033-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                            | Molina Healthcare Inc                                                            | CUSIP: 60855RAL4<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |      1307000 | PA      | $1173124.67   | 0.01%             | 2032-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| Chicago Mercantile Exchange                                      | 3 MONTH SOFR FUT DEC28                                                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |          871 | NC      | $-195410.13   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| KAPLA HOLDING SAS                                                | Kapla Holding SAS                                                                | CUSIP: 000000000<br>LEI: 894500PJ28XTH66K4X83 | Long             | DBT              | CORP              | FR        |       374000 | PA      | $438014.69    | 0.00%             | 2032-04-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                                       | Twilio Inc                                                                       | CUSIP: 90138FAC6<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |      1150000 | PA      | $1105943.04   | 0.01%             | 2029-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: —       |
| FIGRE Trust                                                      | FIGRE Trust 2025-HE1                                                             | CUSIP: 30191LAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4434582 | PA      | $4471176.90   | 0.03%             | 2055-01-25      | Variable      | 5.83%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HHKD2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4550953 | PA      | $4602931.74   | 0.03%             | 2054-03-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2025-10 Mortgage Loan Trust                                                 | CUSIP: 12675XAJ5<br>LEI: 213800STFGFKQEQSRE63 | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $2996957.40   | 0.02%             | 2070-10-25      | Variable      | 6.86%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust                                            | Arroyo Mortgage Trust 2019-1                                                     | CUSIP: 042859AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       344435 | PA      | $336379.52    | 0.00%             | 2049-01-25      | Variable      | 3.81%                 | No            |                  2 | On Loan: No      |
| Italy Buoni Poliennali Del Tesoro                                | Italy Buoni Poliennali Del Tesoro                                                | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |     50682000 | PA      | $58935670.62  | 0.35%             | 2035-08-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                                              | Avantor Funding Inc                                                              | CUSIP: 05352TAA7<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |      3749000 | PA      | $3694980.28   | 0.02%             | 2028-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| LEX Trust                                                        | LEX Trust 2026-450                                                               | CUSIP: 501970AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5457000 | PA      | $5450178.75   | 0.03%             | 2043-03-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                              | Buckeye Partners LP                                                              | CUSIP: 118230AV3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |       965000 | PA      | $996369.26    | 0.01%             | 2029-07-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| ARDAGH GROUP SA                                                  | Ardagh Group SA                                                                  | CUSIP: 000000000<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |     12006812 | PA      | $12731879.36  | 0.08%             | 2030-12-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Atrium Hotel Portfolio Trust                                     | Atrium Hotel Portfolio Trust 2025-ATRM                                           | CUSIP: 049917AN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1467000 | PA      | $1452970.64   | 0.01%             | 2042-08-15      | Floating      | 10.40%                | No            |                  2 | On Loan: No      |
| Quarzo Srl                                                       | Quarzo Srl                                                                       | CUSIP: 000000000<br>LEI: 815600702F68B2ED0B22 | Long             | ABS-O            | CORP              | IT        |        59514 | PA      | $70549.73     | 0.00%             | 2041-06-15      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Cheshire                                                         | Cheshire 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 635400KAD9IOWKUKQR96 | Long             | ABS-MBS          | CORP              | GB        |       166000 | PA      | $226466.79    | 0.00%             | 2048-06-28      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                            | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |      1531000 | PA      | $1585754.68   | 0.01%             | 2031-05-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                                              | FS KKR Capital Corp                                                              | CUSIP: 302635AQ0<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |      1343000 | PA      | $1297255.50   | 0.01%             | 2031-01-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| Regatta XVIII Funding Ltd                                        | Regatta XVIII Funding Ltd                                                        | CUSIP: 75884EAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1472902 | PA      | $1472221.67   | 0.01%             | 2038-04-15      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                           | USD C ZAR P @17.50000 EO                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |     -2391750 | OU      | $-377.90      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                 | PURCHASED USD / SOLD PEN                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |            1 | NC      | $154859.02    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                           | EquipmentShare.com Inc                                                           | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |       835000 | PA      | $865681.24    | 0.01%             | 2028-05-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                                             | Raizen Fuels Finance SA                                                          | CUSIP: 000000000<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |      1656000 | PA      | $900450.00    | 0.01%             | 2037-02-25      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                         | OCP SA                                                                           | CUSIP: 67091TAG0<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |       989000 | PA      | $1063570.60   | 0.01%             | 2054-05-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Texas Debt Capital CLO, Ltd                                      | Texas Debt Capital CLO 2024-I Ltd                                                | CUSIP: 88240JAJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       375000 | PA      | $378069.23    | 0.00%             | 2037-04-22      | Floating      | 7.21%                 | No            |                  2 | On Loan: No      |
| Medtronic Global Holdings SCA                                    | Medtronic Global Holdings SCA                                                    | CUSIP: 000000000<br>LEI: 549300JXMTTP8GKYIX14 | Long             | DBT              | CORP              | LU        |      6000000 | PA      | $6486600.72   | 0.04%             | 2031-03-07      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                                              | Prestige Brands Inc                                                              | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |        55000 | PA      | $50801.32     | 0.00%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| KYRGYZ REP INTL BOND                                             | Kyrgyz Republic International Bond                                               | CUSIP: 50158LAA6<br>LEI: N/A                  | Long             | DBT              | NUSS              | KG        |      2137000 | PA      | $2181877.00   | 0.01%             | 2030-06-03      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2021-A                                          | CUSIP: 78448YAD3<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      1522602 | PA      | $1486517.64   | 0.01%             | 2053-01-15      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| Japan Housing Finance Agency                                     | Japan Housing Finance Agency/Kiko                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | JP        |     80282000 | PA      | $368594.19    | 0.00%             | 2057-01-10      | Fixed         | 0.32%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BUE63<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4264503 | PA      | $4315267.34   | 0.03%             | 2055-02-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-8                                                | CUSIP: 92540PAA6<br>LEI: 213800RZ8QGNZ38DSP77 | Long             | ABS-MBS          | CORP              | US        |      3574165 | PA      | $3584894.38   | 0.02%             | 2069-10-25      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Corp Trust 2017-375H                                      | CUSIP: 36254JAJ4<br>LEI: 549300E4QCAQ0FY44H36 | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $955876.10    | 0.01%             | 2037-09-10      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-D                                                 | CUSIP: 64034YAC5<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |       500000 | PA      | $450277.35    | 0.00%             | 2062-04-20      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                 | Altice France SA                                                                 | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |      1496479 | PA      | $1725317.44   | 0.01%             | 2031-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AI SIRONA LUXEMBOURG ACQ SARL                                    | AI Sirona (Luxembourg) Acquisition S.a.r.l. 2026 EUR 1st Lien Term Loan B        | CUSIP: 000000000<br>LEI: 2549004JOW7BL6C13O82 | Long             | LON              | CORP              | LU        |      1678571 | PA      | $1972516.89   | 0.01%             | 2033-01-20      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS                                           | Axalta Coating Systems LLC                                                       | CUSIP: 05453GAC9<br>LEI: 549300G80QONCHILSF69 | Long             | DBT              | CORP              | US        |       678000 | PA      | $645591.33    | 0.00%             | 2029-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Japan Housing Finance Agency                                     | Japan Housing Finance Agency/Kiko                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | JP        |     76748000 | PA      | $356158.18    | 0.00%             | 2056-01-10      | Fixed         | 0.33%                 | No            |                  2 | On Loan: No      |
| Hops Hill                                                        | Hops Hill NO 5 PLC                                                               | CUSIP: 000000000<br>LEI: 635400LDVC1LDKJUB342 | Long             | ABS-MBS          | CORP              | GB        |       888729 | PA      | $1207525.56   | 0.01%             | 2056-06-21      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                                           | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |       230000 | PA      | $242106.51    | 0.00%             | 2031-09-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                          | Starwood Property Trust Inc                                                      | CUSIP: 85571BBE4<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |       206000 | PA      | $211872.03    | 0.00%             | 2030-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2025-B                                                 | CUSIP: 64032BAC7<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      4285000 | PA      | $4261452.64   | 0.03%             | 2055-05-17      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| SGL GROUP APS                                                    | SGL Group ApS                                                                    | CUSIP: 000000000<br>LEI: 636700YQKGLXCPPUYE74 | Long             | DBT              | CORP              | DK        |      2945000 | PA      | $3300872.08   | 0.02%             | 2031-02-24      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                                           | Arsenal AIC Parent LLC                                                           | CUSIP: 04288BAC4<br>LEI: 254900G9F9HA5EP57J39 | Long             | DBT              | CORP              | US        |      2262000 | PA      | $2447054.22   | 0.01%             | 2031-10-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| VIVION INVESTMENTS                                               | Vivion Investments Sarl                                                          | CUSIP: 000000000<br>LEI: 529900SJ7X71ESJK9N76 | Long             | DBT              | CORP              | LU        |      1014643 | PA      | $1198947.93   | 0.01%             | 2028-08-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| AIR CANADA                                                       | Air Canada                                                                       | CUSIP: 008911BK4<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | DBT              | CORP              | CA        |      1066000 | PA      | $1063052.19   | 0.01%             | 2026-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                               | Chase Home Lending Mortgage Trust Series 2024-1                                  | CUSIP: 16160DAK9<br>LEI: 529900A7SLLSJMEDIN80 | Long             | ABS-MBS          | CORP              | US        |       331351 | PA      | $332500.28    | 0.00%             | 2055-01-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Navient Refinance Loan Trust                                     | Navient Refinance Loan Trust 2025-C                                              | CUSIP: 638973AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3070867 | PA      | $3047517.89   | 0.02%             | 2055-10-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Asimi Funding Holdings Limited                                   | Asimi Funding 2025-1 PLC                                                         | CUSIP: 000000000<br>LEI: 6354002PZBGQEXUI2V51 | Long             | ABS-O            | CORP              | GB        |       266272 | PA      | $363156.99    | 0.00%             | 2032-05-16      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| SAN MIGUEL GLOBAL POWER                                          | San Miguel Global Power Holdings Corp                                            | CUSIP: 000000000<br>LEI: 549300HBCE80QXKII590 | Long             | DBT              | CORP              | PH        |      2035000 | PA      | $2026737.90   | 0.01%             | 2029-12-02      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 76 B Ltd                                              | CUSIP: 38180BAA5<br>LEI: 254900N3E7Y6I5DRGW52 | Long             | ABS-CBDO         | CORP              | JE        |      3030000 | PA      | $3035690.34   | 0.02%             | 2037-10-25      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                   | CUSIP: 000000000<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     28037000 | PA      | $33696606.40  | 0.20%             | 2029-03-02      | Fixed         | 4.66%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-8                                                | CUSIP: 924930AJ9<br>LEI: 213800K8E68XJS6Z1D09 | Long             | ABS-MBS          | CORP              | US        |      1338462 | PA      | $1330364.71   | 0.01%             | 2070-09-25      | Fixed         | 6.48%                 | No            |                  2 | On Loan: No      |
| AMPRION GMBH                                                     | Amprion GmbH                                                                     | CUSIP: 000000000<br>LEI: 529900ZIV0ETYHYZM863 | Long             | DBT              | CORP              | DE        |      3300000 | PA      | $3858578.15   | 0.02%             | 2056-04-28      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                      | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |            1 | NC      | $50082.45     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                | Newell Brands Inc                                                                | CUSIP: 651229BE5<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |      3641000 | PA      | $3534622.10   | 0.02%             | 2032-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| COLT Funding LLC                                                 | COLT 2025-7 Mortgage Loan Trust                                                  | CUSIP: 19689CAE1<br>LEI: 213800DOQUYA3TO33M98 | Long             | ABS-MBS          | CORP              | US        |      1400000 | PA      | $1401667.96   | 0.01%             | 2070-06-25      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED PEN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | PE        |            1 | NC      | $-283581.42   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                                 | Cinemark USA Inc                                                                 | CUSIP: 172441BH9<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |      1504000 | PA      | $1554338.88   | 0.01%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| OLYMPUS WTR US HLDG CORP                                         | Olympus Water US Holding Corp                                                    | CUSIP: 681639AB6<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |      3490000 | PA      | $3411244.66   | 0.02%             | 2029-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $-398039.35   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2026-CRE1 Issuer LLC                                                        | CUSIP: 74391FAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      3200000 | PA      | $3204045.31   | 0.02%             | 2043-03-19      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | XX        |            1 | NC      | $-933.55      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MOLOSSUS BTL                                                     | Molossus Btl 2025-1 PLC                                                          | CUSIP: 000000000<br>LEI: 635400EK2YUIDKJ84N95 | Long             | ABS-MBS          | CORP              | GB        |      1625527 | PA      | $2212452.71   | 0.01%             | 2063-03-17      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Wellfleet CLO Ltd                                                | Wellfleet CLO 2020-1 Ltd                                                         | CUSIP: 94949GBA8<br>LEI: 2549001JCRYETQY84B65 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1499384.10   | 0.01%             | 2033-04-15      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Golden Bar Securitisation                                        | Golden Bar Securitisation Srl                                                    | CUSIP: 000000000<br>LEI: 549300GESLGUWWGJRM09 | Long             | ABS-O            | CORP              | IT        |       132832 | PA      | $157102.63    | 0.00%             | 2043-09-22      | Floating      | 3.61%                 | No            |                  2 | On Loan: No      |
| ELFI Graduate Loan Program LLC                                   | ELFI Graduate Loan Program 2022-A LLC                                            | CUSIP: 28628CAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        99959 | PA      | $97452.18     | 0.00%             | 2047-08-26      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                                                 | Boyd Gaming Corp                                                                 | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |      2495000 | PA      | $2483795.45   | 0.01%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HHMR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2266597 | PA      | $2294893.45   | 0.01%             | 2054-12-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Golden Ray S.A.                                                  | Golden Ray SA - Compartment 1                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       572980 | PA      | $672085.94    | 0.00%             | 2057-12-27      | Floating      | 2.77%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-RCF4 LLC                                                               | CUSIP: 69382WAD4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1400000 | PA      | $1345260.98   | 0.01%             | 2055-08-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                           | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 004961AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4795000 | PA      | $4724090.58   | 0.03%             | 2032-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                                           | Harvest Midstream I LP                                                           | CUSIP: 417558AA1<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |      3109000 | PA      | $3129485.20   | 0.02%             | 2028-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Wise CLO Ltd                                                     | WISE CLO 2023-2 Ltd                                                              | CUSIP: 97719TAJ3<br>LEI: 2549000Z4RGK1HNAPB35 | Long             | ABS-CBDO         | CORP              | JE        |      5000000 | PA      | $4996632.00   | 0.03%             | 2039-04-15      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2022-GR1                                     | CUSIP: 36266TAJ8<br>LEI: 254900W4Z6DJOVCWAH28 | Long             | ABS-MBS          | CORP              | US        |      1175244 | PA      | $1049625.19   | 0.01%             | 2052-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION                                               | Kohl's Corp                                                                      | CUSIP: 500255AX2<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |      4350000 | PA      | $3557666.73   | 0.02%             | 2031-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                               | MCR 2024-HF1 Mortgage Trust                                                      | CUSIP: 55287FAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5261011 | PA      | $5267587.70   | 0.03%             | 2041-12-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| Castell                                                          | Castell 2026-1 PLC                                                               | CUSIP: 000000000<br>LEI: 2138001VE6A22R7N6706 | Long             | ABS-MBS          | CORP              | GB        |       521000 | PA      | $712825.03    | 0.00%             | 2062-12-27      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Diameter Capital CLO                                             | Diameter Capital Clo 2 Ltd                                                       | CUSIP: 25255MAL4<br>LEI: 2549008BUJNKS7JJUU65 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1503020.55   | 0.01%             | 2037-10-15      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2024-12                                                 | CUSIP: 034932AA1<br>LEI: 254900S8TF74AZOT0548 | Long             | ABS-MBS          | CORP              | US        |     10218105 | PA      | $10274779.56  | 0.06%             | 2069-10-25      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                      | Rad CLO 10 Ltd                                                                   | CUSIP: 48662LAC5<br>LEI: 254900F50S9DCHTOVI65 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250379.33    | 0.00%             | 2034-04-23      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2026-1 DAC                                             | CUSIP: 000000000<br>LEI: 635400NBXJLIIDPDLP80 | Long             | ABS-O            | CORP              | IE        |      2000000 | PA      | $2354219.21   | 0.01%             | 2037-10-18      | Floating      | 2.98%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | TRSWAP: LQD US EQUITY                                                            | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DE               |  | US        |     41965209 | OU      | $-104415.67   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SPA HOLDINGS 3 OY                                                | Spa Holdings 3 Oy 2025 EUR Term Loan B                                           | CUSIP: 000000000<br>LEI: 743700UEY0YM039XN974 | Long             | LON              | CORP              | FI        |      3000000 | PA      | $3524258.75   | 0.02%             | 2030-05-27      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                                            | TRK 2022-INV1 Trust                                                              | CUSIP: 872635AA5<br>LEI: 25490023B58UP9CM5N96 | Long             | ABS-MBS          | CORP              | US        |      6107584 | PA      | $5713118.78   | 0.03%             | 2057-02-25      | Variable      | 2.58%                 | No            |                  2 | On Loan: No      |
| ADAPTHEALTH LLC                                                  | Adapthealth LLC                                                                  | CUSIP: 00653VAE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1780000 | PA      | $1731051.96   | 0.01%             | 2030-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: —       |
| HalseyPoint CLO 3, Ltd.                                          | HalseyPoint CLO 3 Ltd                                                            | CUSIP: 40638UBA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1340000 | PA      | $1347283.57   | 0.01%             | 2037-07-30      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                                | Lithia Motors Inc                                                                | CUSIP: 536797AE3<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |       813000 | PA      | $809159.14    | 0.00%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Sunrise Srl                                                      | Sunrise Spv 97 Srl                                                               | CUSIP: 000000000<br>LEI: 815600D891F71DDF9E74 | Long             | ABS-O            | CORP              | IT        |       100000 | PA      | $117077.42    | 0.00%             | 2050-10-27      | Floating      | 3.52%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                                          | Beach Acquisition Bidco LLC                                                      | CUSIP: 000000000<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |     14249000 | PA      | $16641193.05  | 0.10%             | 2032-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO XXX Ltd                                                         | CUSIP: 09630QAU5<br>LEI: 5493002GUQ80FGGGNP40 | Long             | ABS-CBDO         | CORP              | KY        |      2900000 | PA      | $2900314.36   | 0.02%             | 2035-04-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                            | Caesars Entertainment Inc                                                        | CUSIP: 12769GAC4<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |      6163000 | PA      | $5988309.15   | 0.04%             | 2032-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| SC GERMANY CONSUMER                                              | SC Germany SA Compartment Consumer 2025-1                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | DE        |       400000 | PA      | $467038.87    | 0.00%             | 2038-12-14      | Floating      | 2.95%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                             | Edison International                                                             | CUSIP: 281020AZ0<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |      1104000 | PA      | $1138820.16   | 0.01%             | 2054-06-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                 | California Street CLO IX LP                                                      | CUSIP: 13079WDC9<br>LEI: 5493001GRJRD2VIG9H40 | Long             | ABS-CBDO         | CORP              | KY        |       312889 | PA      | $313169.49    | 0.00%             | 2032-07-16      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                                           | Canyon CLO 2026-1 Ltd                                                            | CUSIP: 13890AAA1<br>LEI: 25490032WO5XW3V7KL43 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $999713.70    | 0.01%             | 2039-04-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                            | KKR CLO 54 LTD                                                                   | CUSIP: 48256VAA9<br>LEI: 254900EAKW6RIW3QK367 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004878.60   | 0.01%             | 2038-01-15      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| EDP SA                                                           | EDP SA                                                                           | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | DBT              | CORP              | PT        |      3600000 | PA      | $4103762.93   | 0.02%             | 2055-12-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Angola Government International Bonds                            | Angola Government International Bonds                                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |      1579000 | PA      | $1607540.43   | 0.01%             | 2029-11-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                         | Foundation Finance Trust 2023-2                                                  | CUSIP: 35042RAA4<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |      1505252 | PA      | $1555445.02   | 0.01%             | 2049-06-15      | Fixed         | 6.53%                 | No            |                  2 | On Loan: No      |
| Kennedy Lewis CLO Ltd                                            | Kennedy Lewis CLO 2 Ltd                                                          | CUSIP: 370910AA9<br>LEI: 5493009C48K5WG4EX118 | Long             | ABS-CBDO         | CORP              | KY        |      1050000 | PA      | $1050011.24   | 0.01%             | 2037-10-22      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| AFRICAN EXPORT-IMPORT BA                                         | African Export-Import Bank/The                                                   | CUSIP: 000000000<br>LEI: 21380068LJCDYA42GJ76 | Long             | DBT              | NUSS              | XX        |      3353000 | PA      | $3162247.83   | 0.02%             | 2029-09-21      | Fixed         | 3.99%                 | No            |                  2 | On Loan: No      |
| Republic of Poland Government International Bonds                | Republic of Poland Government International Bonds                                | CUSIP: 731011AV4<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |       519000 | PA      | $520297.50    | 0.00%             | 2033-10-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                          | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2093000 | PA      | $2182492.49   | 0.01%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2024-NQM3                                                                   | CUSIP: 69381FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5252642 | PA      | $5248411.66   | 0.03%             | 2069-08-25      | Variable      | 5.23%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                                         | CQP Holdco LP / BIP-V Chinook Holdco LLC                                         | CUSIP: 12657NAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1479000 | PA      | $1572524.57   | 0.01%             | 2033-12-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2025-3 Ltd                                            | CUSIP: 696918AA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $2995676.70   | 0.02%             | 2034-01-15      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| ABRA GLOBAL FINANCE                                              | ABRA Global Finance                                                              | CUSIP: 000852AC7<br>LEI: 2549007QS3P0D4KT9G26 | Long             | DBT              | CORP              | KY        |       708702 | PA      | $660864.62    | 0.00%             | 2029-10-22      | Fixed         | 14.00%                | No            |                  2 | On Loan: —       |
| WR GRACE HOLDING LLC                                             | WR Grace Holdings LLC                                                            | CUSIP: 92943GAH4<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |      3989000 | PA      | $3962433.26   | 0.02%             | 2033-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| AUTOROUTES DU SUD DE LA                                          | Autoroutes du Sud de la France SA                                                | CUSIP: 000000000<br>LEI: 213800U12KWYZEECZ934 | Long             | DBT              | CORP              | FR        |      4500000 | PA      | $4939166.59   | 0.03%             | 2030-01-22      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| D2 Multifamily Credit 2026-FL1 Issuer, Ltd                       | D2 Multifamily Credit 2026-FL1 Issuer Ltd                                        | CUSIP: 23347LAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2250000 | PA      | $2250000.00   | 0.01%             | 2043-11-19      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust                                 | Vista Point Securitization Trust 2024-CES3                                       | CUSIP: 92841WAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5588352 | PA      | $5610630.48   | 0.03%             | 2055-01-25      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| INNIO GROUP HOLDING GMBH                                         | INNIO Group Holding GmbH 2026 EUR Term Loan B                                    | CUSIP: 000000000<br>LEI: 549300KQQI7KQCL6ZI60 | Long             | LON              | CORP              | AT        |      2265960 | PA      | $2669708.70   | 0.02%             | 2031-11-02      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2025-INV4                                                                   | CUSIP: 26846DAC8<br>LEI: 254900KQZEY4W9F3MX66 | Long             | ABS-MBS          | CORP              | US        |     14357593 | PA      | $14334830.94  | 0.09%             | 2070-10-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                             | Bank of America Corp                                                             | CUSIP: 06051GLG2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     11365000 | PA      | $11517055.29  | 0.07%             | 2029-04-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| CIRSA FINANCE INTER                                              | Cirsa Finance International Sarl                                                 | CUSIP: 000000000<br>LEI: 254900KUJN6DHWH2K029 | Long             | DBT              | CORP              | LU        |      3004000 | PA      | $3536319.48   | 0.02%             | 2032-10-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                          | United Rentals North America Inc                                                 | CUSIP: 911365BN3<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |      2197000 | PA      | $2106357.32   | 0.01%             | 2030-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KAIXO BONDCO TELECOM SA                                          | Kaixo Bondco Telecom SA                                                          | CUSIP: 000000000<br>LEI: 959800ULWB3MZHZ69055 | Long             | DBT              | CORP              | ES        |      9563000 | PA      | $11275844.62  | 0.07%             | 2029-09-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                                 | MGM Resorts International                                                        | CUSIP: 552953CJ8<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |      2341000 | PA      | $2370613.65   | 0.01%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| LCH Ltd.                                                         | FSWP: HUF 6.500000 19-MAR-2027 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    817825994 | OU      | $273.72       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Golden Bar Securitisation                                        | Golden Bar Securitisation Srl 2025-1                                             | CUSIP: 000000000<br>LEI: 549300GESLGUWWGJRM09 | Long             | ABS-O            | CORP              | IT        |        91008 | PA      | $107375.92    | 0.00%             | 2044-12-20      | Floating      | 4.02%                 | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2026-1 DAC                                             | CUSIP: 000000000<br>LEI: 635400NBXJLIIDPDLP80 | Long             | ABS-O            | CORP              | IE        |       600000 | PA      | $704691.20    | 0.00%             | 2037-10-18      | Floating      | 3.23%                 | No            |                  2 | On Loan: No      |
| E-CARAT PLC                                                      | E-Carat UK 2026-1 PLC                                                            | CUSIP: 000000000<br>LEI: 6354009UVYHN8M4BQB63 | Long             | ABS-O            | CORP              | GB        |       133000 | PA      | $180979.71    | 0.00%             | 2034-01-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1420000 | PA      | $1462929.44   | 0.01%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| THAIOIL TRSRY CENTER                                             | THAIOIL TRSRY CENTER                                                             | CUSIP: 000000000<br>LEI: 549300NH03B9E8VGJR89 | Long             | DBT              | CORP              | TH        |      2515000 | PA      | $2458412.50   | 0.01%             | 2031-01-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Frontier Mortgage Funding                                        | Frontier Mortgage Funding 2025-1 PLC                                             | CUSIP: 000000000<br>LEI: 213800LC7EZKPEODCU70 | Long             | ABS-MBS          | CORP              | GB        |      1222894 | PA      | $1662727.76   | 0.01%             | 2066-12-20      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2026-P1                                   | CUSIP: 92263AAK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1808051 | PA      | $1786947.71   | 0.01%             | 2056-03-25      | Variable      | 6.94%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-P2                                   | CUSIP: 92262XAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       278128 | PA      | $274615.53    | 0.00%             | 2055-10-25      | Variable      | 6.56%                 | No            |                  2 | On Loan: No      |
| Kennedy Lewis CLO Ltd                                            | Kennedy Lewis CLO 17 Ltd                                                         | CUSIP: 37149PAA6<br>LEI: 21380057FWYXY89TJK26 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002130.40   | 0.01%             | 2037-10-22      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD PLN                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $635683.70    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Elstree Funding                                                  | Elstree Funding No 5 PLC                                                         | CUSIP: 000000000<br>LEI: 635400TQHOGQECGSLM58 | Long             | ABS-MBS          | CORP              | GB        |       454421 | PA      | $618902.41    | 0.00%             | 2061-08-21      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                                              | NOVA Chemicals Corp                                                              | CUSIP: 66977WAR0<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |      3795000 | PA      | $3793359.80   | 0.02%             | 2027-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Symphony CLO Ltd                                                 | Symphony CLO XX Ltd                                                              | CUSIP: 87166VAY4<br>LEI: 549300JQYSBIW1AM8R32 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001846.40   | 0.01%             | 2032-01-16      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                     | Fibercop SpA                                                                     | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |      3200000 | PA      | $3184423.25   | 0.02%             | 2055-03-17      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CNY 1.615000 18-MAR-2031 CNR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     17955806 | OU      | $8763.96      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                         | Rogers Communications Inc                                                        | CUSIP: 775109DH1<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |      2428000 | PA      | $2504750.37   | 0.01%             | 2055-04-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO 2018-2 Ltd                                                      | CUSIP: 09629VAC7<br>LEI: 549300NUS8PQQUZMPR50 | Long             | ABS-CBDO         | CORP              | KY        |       825410 | PA      | $825571.25    | 0.00%             | 2031-08-15      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| VF CORP                                                          | VF Corp                                                                          | CUSIP: 918204AY4<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |      4100000 | PA      | $3846661.52   | 0.02%             | 2032-02-25      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2025-NQM3 Trust                                                              | CUSIP: 58004LAA5<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      8118199 | PA      | $8131350.19   | 0.05%             | 2070-08-25      | Variable      | 5.26%                 | No            |                  2 | On Loan: No      |
| HILTON WORLDWIDE FIN LLC                                         | Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp                     | CUSIP: 432891AK5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |      2703000 | PA      | $2696394.68   | 0.02%             | 2027-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Ukraine Government International Bonds                           | Ukraine Government International Bonds                                           | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |       225115 | PA      | $174464.13    | 0.00%             | 2029-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| AMPRION GMBH                                                     | Amprion GmbH                                                                     | CUSIP: 000000000<br>LEI: 529900ZIV0ETYHYZM863 | Long             | DBT              | CORP              | DE        |     10200000 | PA      | $11896406.64  | 0.07%             | 2056-04-28      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Node AcquiCo GmbH                                                | Node AcquiCo GmbH EUR Term Loan                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | DE        |      3000000 | PA      | $3527392.40   | 0.02%             | 2032-12-08      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                                       | DaVita Inc                                                                       | CUSIP: 23918KAW8<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |      3432000 | PA      | $3542479.51   | 0.02%             | 2032-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Secucor Finance                                                  | Secucor Finance 2013-1 DAC                                                       | CUSIP: 000000000<br>LEI: 2138001E8BAK3OXZGG87 | Long             | ABS-O            | CORP              | IE        |       100000 | PA      | $117388.44    | 0.00%             | 2036-09-20      | Floating      | 3.64%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                   | Morgan Stanley Capital I Trust 2018-H3                                           | CUSIP: 61767YBD1<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |       182035 | PA      | $177488.08    | 0.00%             | 2051-07-15      | Variable      | 4.62%                 | No            |                  2 | On Loan: No      |
| CSTL Commercial Mortgage Trust                                   | CSTL Commercial Mortgage Trust 2026-GATE3                                        | CUSIP: 228920AJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8000000 | PA      | $7881687.20   | 0.05%             | 2043-02-10      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| BANCA MONTE DEI PASCHI S                                         | Banca Monte dei Paschi di Siena SpA                                              | CUSIP: 000000000<br>LEI: J4CP7MHCXR8DAQMKIL78 | Long             | DBT              | CORP              | IT        |      8292000 | PA      | $9846226.79   | 0.06%             | 2035-10-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| VELOCITY 2026-1 PLC                                              | Velocity 2026-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800PL94CXWBF7SX91 | Long             | ABS-O            | CORP              | GB        |       381000 | PA      | $518451.34    | 0.00%             | 2037-02-25      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2024-3                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |       438000 | PA      | $598052.69    | 0.00%             | 2032-11-15      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos CLO XXXI                                                                  | CUSIP: 03767VAW8<br>LEI: 549300IG6PHVJ3WBR394 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250324.83    | 0.00%             | 2039-04-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2024-INV1 Trust                                                             | CUSIP: 36831BBG8<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |       220226 | PA      | $221802.85    | 0.00%             | 2054-01-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2025-DSC1                                    | CUSIP: 36275EAC5<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |     12335902 | PA      | $12292055.43  | 0.07%             | 2065-06-25      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| Auto ABS                                                         | Auto ABS Spanish Loans 2024-1 FT                                                 | CUSIP: 000000000<br>LEI: 9598007LTXPL84RD7W58 | Long             | ABS-O            | CORP              | ES        |       664704 | PA      | $782088.23    | 0.00%             | 2038-09-28      | Floating      | 2.76%                 | No            |                  2 | On Loan: No      |
| Jubilee Place                                                    | Jubilee Place 9 BV                                                               | CUSIP: 000000000<br>LEI: 724500NW990F5Q3VQE73 | Long             | ABS-O            | CORP              | NL        |       458000 | PA      | $531127.41    | 0.00%             | 2061-10-17      | Floating      | 3.34%                 | No            |                  2 | On Loan: No      |
| Market Bidco Limited                                             | Market Bidco Limited 2024 EUR Term Loan B                                        | CUSIP: 000000000<br>LEI: 549300RKU7UEPSC42U63 | Long             | LON              | CORP              | GB        |      2000000 | PA      | $2331408.16   | 0.01%             | 2030-11-04      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                              | Petroleos Mexicanos                                                              | CUSIP: 71654QDF6<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      1848000 | PA      | $1534764.00   | 0.01%             | 2060-01-28      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| DOLCETTO HOLDCO SPA                                              | Dolcetto Holdco SpA                                                              | CUSIP: 000000000<br>LEI: 81560029E819F2CE4A42 | Long             | DBT              | CORP              | IT        |     17518000 | PA      | $20545788.46  | 0.12%             | 2032-07-14      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BANIJAY ENTERTAINMENT                                            | Banijay Entertainment SAS                                                        | CUSIP: 000000000<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |      3293000 | PA      | $3974979.20   | 0.02%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-VOLT                                                               | CUSIP: 05619PAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15885000 | PA      | $15875071.88  | 0.09%             | 2044-12-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                               | Energy Transfer LP                                                               | CUSIP: 29273VAX8<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |       388000 | PA      | $411290.35    | 0.00%             | 2054-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust Series 2024-VIS1                                        | CUSIP: 465970AF8<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       940000 | PA      | $942424.92    | 0.01%             | 2064-07-25      | Variable      | 8.04%                 | No            |                  2 | On Loan: No      |
| Hermitage Plc                                                    | Hermitage 2025 PLC                                                               | CUSIP: 000000000<br>LEI: 635400MSBHAPT1EQBW93 | Long             | ABS-O            | CORP              | GB        |        96193 | PA      | $130959.70    | 0.00%             | 2033-04-21      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| FREEPORT INDONESIA PT                                            | Freeport Indonesia PT                                                            | CUSIP: 000000000<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |      4889000 | PA      | $4890842.18   | 0.03%             | 2027-04-14      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| TELEFONICA EMISIONES SAU                                         | Telefonica Emisiones SA                                                          | CUSIP: 000000000<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |      6800000 | PA      | $7816378.70   | 0.05%             | 2031-01-19      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ELECT GLOBAL INV LTD                                             | Elect Global Investments Ltd                                                     | CUSIP: 000000000<br>LEI: 254900MGJD77N8VPNK65 | Long             | DBT              | CORP              | VG        |      1067000 | PA      | $823724.00    | 0.00%             | 2026-06-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                      | PURCHASED INR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | IN        |            1 | NC      | $-88534.77    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bletchley Park Funding                                           | Bletchley Park Funding 2025-1 PLC                                                | CUSIP: 000000000<br>LEI: 635400OJVL3HJJTKNB05 | Long             | ABS-MBS          | CORP              | GB        |       131000 | PA      | $179411.19    | 0.00%             | 2070-01-27      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Mila B.V.                                                        | Mila 2025-1 BV                                                                   | CUSIP: 000000000<br>LEI: 72450098VTA940FX5997 | Long             | ABS-O            | CORP              | NL        |       100000 | PA      | $117356.75    | 0.00%             | 2042-10-12      | Floating      | 3.09%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2026-NQM1                                                                   | CUSIP: 26846GAF4<br>LEI: 254900H3V169GPKPIM43 | Long             | ABS-MBS          | CORP              | US        |      7894256 | PA      | $7840634.34   | 0.05%             | 2071-02-25      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                           | WESCO Distribution Inc                                                           | CUSIP: 95081QAS3<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |      1911000 | PA      | $1973858.52   | 0.01%             | 2033-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Providus CLO                                                     | Providus CLO II DAC                                                              | CUSIP: 000000000<br>LEI: 635400JFBYET5G2XFP83 | Long             | ABS-CBDO         | CORP              | IE        |       910000 | PA      | $1066464.46   | 0.01%             | 2038-10-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 41 Ltd                                               | Elmwood CLO 41 Ltd                                                               | CUSIP: 29005CAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3005191.80   | 0.02%             | 2038-07-17      | Floating      | 9.68%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                               | Serbia International Bond                                                        | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |       441000 | PA      | $514620.69    | 0.00%             | 2031-05-06      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.185000 17-SEP-2026 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     15338913 | OU      | $-93265.60    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KRE Commercial Mortgage Trust                                    | KRE Commercial Mortgage Trust 2026-ICNA                                          | CUSIP: 48275LAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       500000 | PA      | $501250.00    | 0.00%             | 2043-05-15      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF JORDAN                                                | Jordan Government International Bond                                             | CUSIP: 000000000<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |       717000 | PA      | $737972.25    | 0.00%             | 2028-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| CQP HOLDCO LP/BIP-V CHIN                                         | CQP Holdco LP / BIP-V Chinook Holdco LLC                                         | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2146000 | PA      | $2119843.69   | 0.01%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-4                                                | CUSIP: 92540GAE8<br>LEI: 213800WNY873LW1L3M73 | Long             | ABS-MBS          | CORP              | US        |      1765000 | PA      | $1792666.90   | 0.01%             | 2069-06-25      | Variable      | 7.64%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $568992.63    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SAUDI ELECTRICITY SUKUK                                          | Saudi Electricity Sukuk Programme Co                                             | CUSIP: 000000000<br>LEI: 549300KZ4IZK3RMUO096 | Long             | DBT              | CORP              | KY        |      2794000 | PA      | $2804890.45   | 0.02%             | 2029-02-13      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2024-10                                                 | CUSIP: 034933AA9<br>LEI: 254900QN92XYN8GJBJ44 | Long             | ABS-MBS          | CORP              | US        |      5677257 | PA      | $5690477.23   | 0.03%             | 2069-10-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDM9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      2923000 | PA      | $2847095.54   | 0.02%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Quarzo Srl                                                       | Quarzo Srl                                                                       | CUSIP: 000000000<br>LEI: 815600702F68B2ED0B22 | Long             | ABS-O            | CORP              | IT        |       890350 | PA      | $1047146.13   | 0.01%             | 2042-03-15      | Floating      | 2.96%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                                     | CaixaBank SA                                                                     | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |      2200000 | PA      | $2683056.65   | 0.02%             | 2032-07-24      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                                                 | Credit Acceptance Corp                                                           | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4667000 | PA      | $4651412.22   | 0.03%             | 2030-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| TAYLOR MORRISON COMM                                             | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |      1631000 | PA      | $1645719.78   | 0.01%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2025-BHR5                 | CUSIP: 46649WAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2635135 | PA      | $2635134.80   | 0.02%             | 2040-03-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD CLP                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $127377.98    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Receivable Trust                        | Santander Mortgage Asset Receivable Trust 2026-NQM1                              | CUSIP: 802931AC9<br>LEI: 254900O64LWPVM9P8N80 | Long             | ABS-MBS          | CORP              | US        |      4401135 | PA      | $4379473.30   | 0.03%             | 2065-11-25      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-BRBK                                           | CUSIP: 05613NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6465000 | PA      | $6485107.44   | 0.04%             | 2041-10-15      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | FSWP: OIS 8.070000 17-SEP-2026 IBR                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |   1912725939 | OU      | $12722.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PANTHER ESCROW ISSUER                                            | Panther Escrow Issuer LLC                                                        | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      7240000 | PA      | $7273902.68   | 0.04%             | 2031-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: OIS 1.654000 17-JUN-2031 THO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    163199576 | OU      | $-12661.07    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GZR8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     10175000 | PA      | $10103578.83  | 0.06%             | 2028-03-15      | Fixed         | 3.62%                 | No            |                  2 | On Loan: No      |
| Ramsay Generale de Sante SA                                      | Ramsay Generale de Sante SA 2025 EUR Term Loan B4                                | CUSIP: 000000000<br>LEI: 969500I1EJGUAT223F44 | Long             | LON              | CORP              | FR        |      1000000 | PA      | $1169917.48   | 0.01%             | 2031-08-13      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| Victory Street CLO                                               | Victory Street CLO I DAC                                                         | CUSIP: 000000000<br>LEI: 635400D4KWYZ4IFHKI82 | Long             | ABS-CBDO         | CORP              | IE        |      1250000 | PA      | $1480083.90   | 0.01%             | 2038-01-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                      | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |            1 | NC      | $99961.68     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                             | Sofi Professional Loan Program 2019-B LLC                                        | CUSIP: 83404WAB3<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |       574294 | PA      | $565866.98    | 0.00%             | 2048-08-17      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| AROUNDTOWN FINANCE SARL                                          | Aroundtown Finance Sarl                                                          | CUSIP: 000000000<br>LEI: 8945006LEXV2KWSWVP51 | Long             | DBT              | CORP              | LU        |      9648000 | PA      | $10622224.66  | 0.06%             | 2031-07-03      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Crown City CLO I                                                 | Crown City CLO I                                                                 | CUSIP: 22823RAW9<br>LEI: 549300K60T4GC7BSX929 | Long             | ABS-CBDO         | CORP              | KY        |      5800000 | PA      | $5814491.88   | 0.03%             | 2038-07-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                                       | Affirm Asset Securitization Trust 2025-X2                                        | CUSIP: 00835DAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       295000 | PA      | $295302.49    | 0.00%             | 2030-10-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                                                | Nexstar Media Inc                                                                | CUSIP: 65346UAA7<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |      4012000 | PA      | $4037620.75   | 0.02%             | 2034-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| LION LUX                                                         | Lion/Polaris Lux Midco SARL                                                      | CUSIP: 000000000<br>LEI: 984500B6N8F6E153B579 | Long             | DBT              | CORP              | LU        |      6362000 | PA      | $7528581.09   | 0.04%             | 2029-07-01      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 000000000<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     13070000 | PA      | $15052750.86  | 0.09%             | 2033-08-17      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                           | WESCO Distribution Inc                                                           | CUSIP: 95081QAR5<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |       700000 | PA      | $724965.50    | 0.00%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Owl Rock CLO                                                     | OWL Rock Clo V LLC                                                               | CUSIP: 69120JAA6<br>LEI: 254900A83FLFEMNDIV17 | Long             | ABS-CBDO         | CORP              | US        |      1500000 | PA      | $1499895.60   | 0.01%             | 2034-04-20      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| E-CARAT PLC                                                      | E-Carat UK 2026-1 PLC                                                            | CUSIP: 000000000<br>LEI: 6354009UVYHN8M4BQB63 | Long             | ABS-O            | CORP              | GB        |       410000 | PA      | $557907.38    | 0.00%             | 2034-01-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                               | CNX Resources Corp                                                               | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |      1928000 | PA      | $2008662.97   | 0.01%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                             | Deephaven Residential Mortgage Trust 2021-3                                      | CUSIP: 24381VAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       632978 | PA      | $560970.64    | 0.00%             | 2066-08-25      | Variable      | 1.19%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BSSF3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2310684 | PA      | $2330083.28   | 0.01%             | 2054-08-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY FIN LLC                                           | Morgan Stanley Finance LLC                                                       | CUSIP: 000000000<br>LEI: 5493003FCPSE9RKT4B56 | Long             | SN               | CORP              | US        |     71484000 | PA      | $83897174.20  | 0.50%             | 2031-05-08      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                    | CUSIP: 893647BQ9<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      2669000 | PA      | $2637608.02   | 0.02%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.690000 26-JUN-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     31945028 | OU      | $4289.46      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2024-NQM3                                    | CUSIP: 647910AC2<br>LEI: 213800HBIGZVLLQA9I67 | Long             | ABS-MBS          | CORP              | US        |      7882495 | PA      | $7947195.12   | 0.05%             | 2064-11-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2021-D                                          | CUSIP: 78449MAA4<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |        92278 | PA      | $87495.44     | 0.00%             | 2053-03-17      | Fixed         | 1.34%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED ZAR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | ZA        |            1 | NC      | $-649989.92   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO 44 Ltd                                               | CUSIP: 08187NAA5<br>LEI: 254900Z6HW34YGOYWK97 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2002008.20   | 0.01%             | 2039-01-15      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Great Wolf Trust                                                 | GWT 2024-WLF2                                                                    | CUSIP: 362414AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4555000 | PA      | $4563540.63   | 0.03%             | 2041-05-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                                               | Advance Auto Parts Inc                                                           | CUSIP: 00751YAL0<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |      1130000 | PA      | $1165967.90   | 0.01%             | 2033-08-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| NCR VOYIX CORP                                                   | NCR Voyix Corp                                                                   | CUSIP: 62886EBA5<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |      2827000 | PA      | $2744704.33   | 0.02%             | 2029-04-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: —       |
| BREAKWATER ENRGY HOLD                                            | Breakwater Energy Holdings Sarl                                                  | CUSIP: 10637BAA3<br>LEI: 984500969HAFA937F390 | Long             | DBT              | CORP              | LU        |      4525000 | PA      | $4819057.13   | 0.03%             | 2030-11-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                         | Foundation Finance Trust 2025-3                                                  | CUSIP: 35042TAA0<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |      6011576 | PA      | $5952020.35   | 0.04%             | 2052-08-15      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| OCTAGON INVESTMENT PARTNERS 41, LTD.                             | Octagon Investment Partners 41 Ltd                                               | CUSIP: 67592FBA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      4250000 | PA      | $4251128.80   | 0.03%             | 2033-10-15      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital Clo 29 Ltd                                                     | CUSIP: 03332RAA1<br>LEI: 213800XVU2BADRNDSO76 | Long             | ABS-CBDO         | CORP              | KY        |      1250000 | PA      | $1250000.00   | 0.01%             | 2037-07-20      | Floating      | 10.52%                | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.242500 02-JAN-2031 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     23499000 | OU      | $-56675.88    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED INR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | IN        |            1 | NC      | $-1511.56     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ALA Trust                                                        | ALA Trust 2025-OANA                                                              | CUSIP: 009920AG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4559000 | PA      | $4570397.50   | 0.03%             | 2040-06-15      | Floating      | 6.75%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2025-DSC1                                    | CUSIP: 36275EAG6<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      1873000 | PA      | $1857792.55   | 0.01%             | 2065-06-25      | Variable      | 6.74%                 | No            |                  2 | On Loan: No      |
| Orchard Park CLO, LTD.                                           | Orchard Park Clo Ltd                                                             | CUSIP: 68563JAA2<br>LEI: 3912000K0W3TWP1KMO81 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001952.50   | 0.01%             | 2037-10-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                            | Palmer Square CLO 2025-1 Ltd                                                     | CUSIP: 69703YAJ9<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $997673.20    | 0.01%             | 2038-04-20      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | SWAP/CDSWAP/SCDS: (WLNFP)                                                        | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DCR              |  | DE        |      6900000 | OU      | $-1315552.93  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| LBA Trust                                                        | LBA Trust 2024-7IND                                                              | CUSIP: 52109XAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4388987 | PA      | $4391710.29   | 0.03%             | 2041-10-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                             | Republic of Uzbekistan International Bond                                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |       704000 | PA      | $835759.51    | 0.00%             | 2027-05-29      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $-66547.74    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                     | Fibercop SpA                                                                     | CUSIP: 683879AD2<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |      1282000 | PA      | $1229380.44   | 0.01%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                      | Oracle Corp                                                                      | CUSIP: 68389XBN4<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |      8520000 | PA      | $8337432.16   | 0.05%             | 2027-11-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2024-NQM4 Trust                                                              | CUSIP: 67118TAD6<br>LEI: 254900LSNFNEGAD7J679 | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $1002948.10   | 0.01%             | 2064-01-25      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.881500 17-DEC-2030 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    770712204 | OU      | $1313099.27   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2018-B                                          | CUSIP: 78449LAC2<br>LEI: 549300INMCHM7L5O6M41 | Long             | ABS-O            | CORP              | US        |        65823 | PA      | $65779.71     | 0.00%             | 2037-01-15      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| Qatar Government International Bonds                             | Qatar Government International Bonds                                             | CUSIP: 000000000<br>LEI: 52990074F6OJOAXK4P65 | Long             | DBT              | NUSS              | QA        |      5336000 | PA      | $5329330.00   | 0.03%             | 2026-06-02      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                     | Broadcom Inc                                                                     | CUSIP: 11135FBA8<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     16635000 | PA      | $16816989.89  | 0.10%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                                      | Bell Telephone Co of Canada or Bell Canada                                       | CUSIP: 0778FPAP4<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |      2268000 | PA      | $2326854.60   | 0.01%             | 2055-09-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                | EURO-BUXL 30Y BND JUN26                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         -117 | NC      | $229617.59    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO XXXVIII Ltd                                          | CUSIP: 08183FAC2<br>LEI: 254900TPMKEES6UQHQ33 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2007794.80   | 0.01%             | 2038-01-25      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| Octagon 59 Ltd                                                   | Octagon 59 Ltd                                                                   | CUSIP: 675930AE1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2200000 | PA      | $2207435.56   | 0.01%             | 2035-05-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte Ltd                          | SEAGATE DATA STOR                                                                | CUSIP: 81180LAM7<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |      3301000 | PA      | $3449822.28   | 0.02%             | 2029-12-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| SCG Hotel Issuer Inc                                             | SCG 2024-MSP Mortgage Trust                                                      | CUSIP: 78436EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8700000 | PA      | $8700000.00   | 0.05%             | 2041-04-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                         | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3766000 | PA      | $3760419.16   | 0.02%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                            | Palmer Square CLO 2025-1 Ltd                                                     | CUSIP: 69703UAA6<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $729378.38    | 0.00%             | 2038-04-20      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: CZK 3.704700 17-SEP-2030 PRI                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     89079039 | OU      | $-105947.12   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CONTINUUM GRN SPV CO-ISS                                         | Continuum Green Energy India Pvt / Co-Issuers                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | IN        |      1881500 | PA      | $1940955.40   | 0.01%             | 2033-06-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                 | TRESTLES CLO 2017-1 Ltd                                                          | CUSIP: 89531FBG1<br>LEI: 254900QSBDX181YYBH38 | Long             | ABS-CBDO         | CORP              | KY        |       500000 | PA      | $502374.00    | 0.00%             | 2037-07-25      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                                  | Fair Isaac Corp                                                                  | CUSIP: 303250AG9<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |      2558000 | PA      | $2522761.25   | 0.01%             | 2033-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PENN Commercial Mortgage Trust                                   | PENN Commercial Mortgage Trust 2025-P11                                          | CUSIP: 69382VAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5516000 | PA      | $5734712.71   | 0.03%             | 2042-08-10      | Variable      | 6.72%                 | No            |                  2 | On Loan: No      |
| Radian Mortgage Capital Trust                                    | Radian Mortgage Capital Trust 2024-J2                                            | CUSIP: 75023WAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1123410 | PA      | $1123586.03   | 0.01%             | 2055-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Indy US Bidco LLC                                                | Indy US Bidco LLC 2025 EUR Term Loan B                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | US        |      1767844 | PA      | $2073232.42   | 0.01%             | 2030-10-31      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| FEDRIGONI SPA                                                    | Fedrigoni SpA                                                                    | CUSIP: 000000000<br>LEI: 8156004CE82074779D19 | Long             | DBT              | CORP              | IT        |      2514000 | PA      | $2875919.69   | 0.02%             | 2030-01-15      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| Secucor Finance                                                  | Secucor Finance 2013-1 DAC                                                       | CUSIP: 000000000<br>LEI: 2138001E8BAK3OXZGG87 | Long             | ABS-O            | CORP              | IE        |       700000 | PA      | $826096.50    | 0.00%             | 2036-09-20      | Floating      | 8.14%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2021-1                                          | CUSIP: 68269MAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       500000 | PA      | $470998.25    | 0.00%             | 2036-06-16      | Fixed         | 2.47%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | XX        |            1 | NC      | $1615513.45   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                               | Viking Cruises Ltd                                                               | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |      3192000 | PA      | $3363512.54   | 0.02%             | 2031-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED USD / SOLD CZK                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |            1 | NC      | $125083.88    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                            | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      6416909 | PA      | $6622454.59   | 0.04%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| ROMANIA                                                          | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |       846000 | PA      | $940469.71    | 0.01%             | 2033-03-04      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED CZK / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CZ        |            1 | NC      | $33419.42     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                           | Cloud Software Group Inc                                                         | CUSIP: 18912UAG7<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |      4023000 | PA      | $3603251.61   | 0.02%             | 2033-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| ALLIED UNIVERSAL                                                 | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9183000 | PA      | $9111955.35   | 0.05%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| AHLSTROM HLDG 3 OY                                               | Ahlstrom Holding 3 Oy                                                            | CUSIP: 84612JAA0<br>LEI: 743700UEY0YM039XN974 | Long             | DBT              | CORP              | FI        |      9689000 | PA      | $9490439.06   | 0.06%             | 2028-02-04      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BBAM US CLO LTD.                                                 | BBAM US CLO I Ltd                                                                | CUSIP: 054978AL5<br>LEI: 549300LRECI1GZTZLF38 | Long             | ABS-CBDO         | CORP              | KY        |      4560000 | PA      | $4562212.51   | 0.03%             | 2038-03-30      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| HalseyPoint CLO I, Ltd.                                          | Sagard-Halseypoint Clo 10 Ltd                                                    | CUSIP: 78663BAA7<br>LEI: 254900N7LSI0GVY3UO19 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5012498.00   | 0.03%             | 2038-10-20      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| ONNI Commercial Mortgage Trust                                   | ONNI Commerical Mortgage Trust 2024-APT                                          | CUSIP: 682939AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5605000 | PA      | $5661050.00   | 0.03%             | 2039-07-15      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| RUN NQM TRUST                                                    | RUN 2022-NQM1 Trust                                                              | CUSIP: 74981CAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1903461 | PA      | $1864131.19   | 0.01%             | 2067-03-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MERIDIAN ARC HOLDCO LLC                                          | Meridian Arc Holdco LLC                                                          | CUSIP: 58990CAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3980000 | PA      | $3979094.11   | 0.02%             | 2031-04-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ENGINEERING SPA                                                  | Engineering - Ingegneria Informatica - SpA                                       | CUSIP: 000000000<br>LEI: 81560042F5E23EE61346 | Long             | DBT              | CORP              | IT        |      2930000 | PA      | $3529325.01   | 0.02%             | 2028-05-15      | Fixed         | 11.13%                | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust                     | Wells Fargo Mortgage Backed Securities 2018-1                                    | CUSIP: 94989UAA9<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |       152354 | PA      | $140010.37    | 0.00%             | 2047-07-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                                | Republic of Kenya Government International Bond                                  | CUSIP: 491798AR5<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |      2959000 | PA      | $2756308.50   | 0.02%             | 2034-02-26      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| UK Logisitics                                                    | UK Logistics 2024-1 DAC                                                          | CUSIP: 000000000<br>LEI: 635400H22JMICKOJRJ36 | Long             | ABS-MBS          | CORP              | IE        |       123198 | PA      | $167859.87    | 0.00%             | 2034-05-17      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                            | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |      6765000 | PA      | $6871738.37   | 0.04%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Dwight 2025-FL1 Issuer LLC                                       | Dwight 2025-FL1 Issuer LLC                                                       | CUSIP: 233636AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      1570000 | PA      | $1572444.18   | 0.01%             | 2042-06-18      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| Autonoria                                                        | AutoNoria Spain 2025 FT                                                          | CUSIP: 000000000<br>LEI: 959800PAVFGQ48YNAE06 | Long             | ABS-O            | CORP              | ES        |        97172 | PA      | $114730.03    | 0.00%             | 2043-04-30      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 64 CLO Ltd                                                                | CUSIP: 26251LAC8<br>LEI: 549300KI3ILQQHC87U86 | Long             | ABS-CBDO         | CORP              | KY        |       186818 | PA      | $186822.82    | 0.00%             | 2031-04-18      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                  | Republic Finance Issuance Trust 2024-A                                           | CUSIP: 76041RAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1665000 | PA      | $1675865.29   | 0.01%             | 2032-08-20      | Fixed         | 7.28%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2024-NQM4 Trust                                                             | CUSIP: 69381UAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5000000 | PA      | $5048795.50   | 0.03%             | 2069-12-26      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA BUYER/ATLANTI                                         | California Buyer Ltd / Atlantica Sustainable Infrastructure PLC                  | CUSIP: 13005HAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |      1934000 | PA      | $1922252.11   | 0.01%             | 2032-02-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Atlas Funding                                                    | Atlas Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800W2FS9Z1VKVEA38 | Long             | ABS-MBS          | CORP              | GB        |       499000 | PA      | $680730.86    | 0.00%             | 2067-07-20      | Floating      | 6.81%                 | No            |                  2 | On Loan: No      |
| FUGUE FINANCE BV                                                 | Fugue Finance BV 2026 EUR Term Loan B                                            | CUSIP: 000000000<br>LEI: 254900LPOM3DXTS8SI47 | Long             | LON              | CORP              | NL        |      2000000 | PA      | $2346243.09   | 0.01%             | 2032-01-09      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                            | KKR CLO 35 Ltd                                                                   | CUSIP: 48254LAN5<br>LEI: 2549008R44IN2IU2DG62 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2501226.50   | 0.01%             | 2038-01-20      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| HSBC BANK PLC                                                    | FSWP: OIS 10.670000 18-MAR-2030 IB                                               | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DIR              |  | US        |   6804748524 | OU      | $73160.85     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                            | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AB2<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |      2702000 | PA      | $3038977.23   | 0.02%             | 2035-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                                       | Progress Residential 2021-SFR10 Trust                                            | CUSIP: 74333WAN2<br>LEI: 5493002EEQ4GX2578787 | Long             | ABS-O            | CORP              | US        |       414194 | PA      | $404920.38    | 0.00%             | 2040-12-17      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| NORTH MACEDONIA                                                  | North Macedonia Government International Bond                                    | CUSIP: 000000000<br>LEI: 635400RD1N6RVNCE4958 | Long             | DBT              | NUSS              | MK        |       547000 | PA      | $654216.22    | 0.00%             | 2027-03-13      | Fixed         | 6.96%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | USD C BRL P @5.350000 EO                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |    -23895000 | OU      | $-123561.05   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fontainebleau Miami Beach Trust                                  | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU                               | CUSIP: 34461WAL4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6600000 | PA      | $6628875.00   | 0.04%             | 2039-12-15      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| Bryant Park Funding Ltd                                          | Bryant Park Funding 2023-19 Ltd                                                  | CUSIP: 11765ABA6<br>LEI: 5493004CTFWJSWYD8564 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1483960.50   | 0.01%             | 2038-04-15      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2018-A                                          | CUSIP: 78449PAC3<br>LEI: 549300QHI21JZK7YIR34 | Long             | ABS-O            | CORP              | US        |        60023 | PA      | $60004.06     | 0.00%             | 2036-02-15      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| Platea BC Bidco AB                                               | Platea BC Bidco AB EUR Delayed Draw Term Loan                                    | CUSIP: 000000000<br>LEI: 254900AWWXX5NUVV4A03 | Long             | LON              | CORP              | SE        |       333333 | PA      | $394314.99    | 0.00%             | 2031-04-03      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                                           | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2036000 | PA      | $2124268.74   | 0.01%             | 2029-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Romania Government International Bonds                           | Romania Government International Bonds                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |      5796000 | PA      | $5809620.60   | 0.03%             | 2027-11-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2024-31 Ltd                                                              | CUSIP: 67570AAN6<br>LEI: 2138008SMV573POQTV86 | Long             | ABS-CBDO         | CORP              | JE        |      7435000 | PA      | $7433132.33   | 0.04%             | 2039-04-20      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Warwick Capital CLO Ltd                                          | Warwick Capital CLO 1 Ltd                                                        | CUSIP: 936919AN9<br>LEI: 254900MNDJAT8Y3XZ919 | Long             | ABS-CBDO         | CORP              | JE        |      2000000 | PA      | $2004154.20   | 0.01%             | 2038-10-20      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES HOLDINGS                                         | United Airlines Holdings Inc                                                     | CUSIP: 910047AM1<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |      4186000 | PA      | $4123467.82   | 0.02%             | 2029-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD PEN                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $149031.23    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Auto1 Car Funding                                                | Auto1 Car Funding Sarl Compartment FinanceHero 2                                 | CUSIP: 000000000<br>LEI: 984500380CAE46K6F380 | Long             | ABS-O            | CORP              | LU        |       167393 | PA      | $196240.10    | 0.00%             | 2035-07-16      | Floating      | 2.85%                 | No            |                  2 | On Loan: No      |
| CIP Commercial Mortgage Trust 2025-SBAY                          | CIP Commercial Mortgage Trust 2025-SBAY                                          | CUSIP: 12576AAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4905000 | PA      | $4921904.10   | 0.03%             | 2037-10-15      | Floating      | 7.40%                 | No            |                  2 | On Loan: No      |
| Autonoria                                                        | AutoNoria Spain 2025 FT                                                          | CUSIP: 000000000<br>LEI: 959800PAVFGQ48YNAE06 | Long             | ABS-O            | CORP              | ES        |        97172 | PA      | $114530.11    | 0.00%             | 2043-04-30      | Floating      | 3.47%                 | No            |                  2 | On Loan: No      |
| CIFC European Funding CLO                                        | CIFC European Funding CLO III DAC                                                | CUSIP: 000000000<br>LEI: 5493000EF0244RPYUG32 | Long             | ABS-CBDO         | CORP              | IE        |      2501000 | PA      | $2908720.22   | 0.02%             | 2039-01-15      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| ROSSINI SARL                                                     | Rossini Sarl                                                                     | CUSIP: 000000000<br>LEI: 549300EC5JCCW6F83R11 | Long             | DBT              | CORP              | LU        |       824777 | PA      | $975221.61    | 0.01%             | 2029-12-31      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 121 CLO Ltd                                                               | CUSIP: 26253VAJ9<br>LEI: 549300KI3ILQQHC87U86 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1003567.00   | 0.01%             | 2037-01-15      | Floating      | 6.57%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                            | Silver Point CLO 13 Ltd                                                          | CUSIP: 82809RAJ0<br>LEI: 254900U97WKD6RJ07L38 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $1999270.20   | 0.01%             | 2038-10-15      | Floating      | 6.32%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2020-NQM2 Trust                                                             | CUSIP: 36166RAC8<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |       115648 | PA      | $113133.35    | 0.00%             | 2065-04-25      | Variable      | 3.94%                 | No            |                  2 | On Loan: No      |
| Together Asset Backed Securitisation                             | Together Asset Backed Securitisation 2024-1ST2 PLC                               | CUSIP: 000000000<br>LEI: 635400WGT6N9TVLEC567 | Long             | ABS-MBS          | CORP              | GB        |       886502 | PA      | $1209779.22   | 0.01%             | 2065-10-12      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Fidelity Grand Harbour CLO                                       | Fidelity Grand Harbour CLO 2021-1 DAC                                            | CUSIP: 000000000<br>LEI: 635400KPYNGCFZ6MDR25 | Long             | ABS-CBDO         | CORP              | IE        |      1000000 | PA      | $1177101.16   | 0.01%             | 2034-10-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $-3850.54     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| London Bridge Mortgages                                          | London Bridge Mortgages 2025-1 PLC                                               | CUSIP: 000000000<br>LEI: 63540064LX89RJMR9I46 | Long             | ABS-MBS          | CORP              | GB        |       310000 | PA      | $421367.98    | 0.00%             | 2067-03-20      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 4.212000 27-OCT-2026 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      3654800 | OU      | $16427.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.815500 06-MAY-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     16608488 | OU      | $-2709.88     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2025-4                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |      2531000 | PA      | $1822186.25   | 0.01%             | 2034-04-20      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Pierpont BTL                                                     | Pierpont BTL 2025-1 PLC                                                          | CUSIP: 000000000<br>LEI: 635400SRTLDO3B8L9Y97 | Long             | ABS-MBS          | CORP              | GB        |       289000 | PA      | $392697.85    | 0.00%             | 2062-03-21      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| 1345 Trust                                                       | 1345T 2025-AOA                                                                   | CUSIP: 68271CAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11711000 | PA      | $11795312.99  | 0.07%             | 2042-06-15      | Floating      | 8.15%                 | No            |                  2 | On Loan: No      |
| Latitude Australia Credit Card Loan Note Trust                   | Latitude Australia Credit Card Master Trust Series 2025-1                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | AU        |       500000 | PA      | $359953.49    | 0.00%             | 2037-11-23      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| INEOS QUATTRO FINANCE 2                                          | INEOS Quattro Finance 2 Plc                                                      | CUSIP: 000000000<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |       730000 | PA      | $783561.51    | 0.00%             | 2030-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                                | Republic of Kenya Government International Bond                                  | CUSIP: 491798AM6<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |       599000 | PA      | $632394.25    | 0.00%             | 2031-02-16      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2026-1                                    | CUSIP: 92262WAD1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1243619 | PA      | $1222423.02   | 0.01%             | 2056-02-25      | Variable      | 6.26%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                         | Foundation Finance Trust 2023-1                                                  | CUSIP: 35042AAA1<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |      2403029 | PA      | $2444689.67   | 0.01%             | 2043-12-15      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| TEVA PHARM FNC NL II                                             | Teva Pharmaceutical Finance Netherlands II BV                                    | CUSIP: 000000000<br>LEI: 549300HSQCIKJAOYIT23 | Long             | DBT              | CORP              | NL        |       229000 | PA      | $267573.13    | 0.00%             | 2031-06-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | BR        |            1 | NC      | $1534792.55   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Silver Point Euro CLO Designated Activity Company                | Silver Point Euro Clo 1 DAC                                                      | CUSIP: 000000000<br>LEI: 254900E59SU5T0V8CI79 | Long             | ABS-CBDO         | CORP              | IE        |      1257000 | PA      | $1479224.76   | 0.01%             | 2039-01-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2025-1 PLC                                                               | CUSIP: 000000000<br>LEI: 635400MKPQQD5URNMC45 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $137651.67    | 0.00%             | 2068-02-26      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                    | Citigroup Inc                                                                    | CUSIP: 17292GKU8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | SN               | CORP              | US        |     24587000 | PA      | $23406602.72  | 0.14%             | 2030-12-11      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital CLO 87B Ltd                                                        | CUSIP: 38182DAJ0<br>LEI: 25490046SBB78VV5VJ54 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1493257.95   | 0.01%             | 2039-04-20      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| CONNECT FINCO SARL/CONNE                                         | Connect Finco SARL / Connect US Finco LLC                                        | CUSIP: 20752TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      6942000 | PA      | $7321637.15   | 0.04%             | 2029-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| Exmoor Funding PLC                                               | Exmoor Funding 2025-1 PLC                                                        | CUSIP: 000000000<br>LEI: 635400YFBIYXOQAEON61 | Long             | ABS-MBS          | CORP              | GB        |       100998 | PA      | $137324.43    | 0.00%             | 2095-03-25      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Exmoor Funding PLC                                               | Exmoor Funding 2025-1 PLC                                                        | CUSIP: 000000000<br>LEI: 635400YFBIYXOQAEON61 | Long             | ABS-MBS          | CORP              | GB        |       239995 | PA      | $326153.81    | 0.00%             | 2095-03-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| CSTL Commercial Mortgage Trust                                   | CSTL Commercial Mortgage Trust 2024-GATE                                         | CUSIP: 22945JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2816000 | PA      | $2808822.86   | 0.02%             | 2041-11-10      | Variable      | 4.92%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2024-A                                          | CUSIP: 831943AC9<br>LEI: 5493000RGRVHYZAIY180 | Long             | ABS-O            | CORP              | US        |       669000 | PA      | $675199.09    | 0.00%             | 2056-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | Santander Consumo 8 Fondo de Titulizacion                                        | CUSIP: 000000000<br>LEI: 529900MNYVA8N0FZJK96 | Long             | ABS-O            | CORP              | ES        |       100000 | PA      | $117407.69    | 0.00%             | 2040-01-21      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| JAZZ SECURITIES DAC                                              | Jazz Securities DAC                                                              | CUSIP: 47216FAA5<br>LEI: 6354009DV8VV7K6KOO02 | Long             | DBT              | CORP              | IE        |      4104000 | PA      | $4013662.75   | 0.02%             | 2029-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| The Huntington National Bank                                     | Huntington Bank Auto Credit-Linked Notes Series 2024-2                           | CUSIP: 44644NAH2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       870786 | PA      | $871997.95    | 0.01%             | 2032-10-20      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| CD Commercial Mortgage Trust                                     | CD 2018-CD7 Mortgage Trust                                                       | CUSIP: 12512JAY0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       430000 | PA      | $421742.71    | 0.00%             | 2051-08-15      | Variable      | 4.51%                 | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                                             | IHO Verwaltungs GmbH                                                             | CUSIP: 000000000<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |      3895721 | PA      | $4678222.21   | 0.03%             | 2028-05-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Hudson Yards                                                     | Hudson Yards 2019-55HY Mortgage Trust                                            | CUSIP: 44421MAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       400000 | PA      | $374997.48    | 0.00%             | 2041-12-10      | Variable      | 3.04%                 | No            |                  2 | On Loan: No      |
| Residential Funding Mtg Sec I                                    | RFMSI Series 2007-SA4 Trust                                                      | CUSIP: 74959AAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       110506 | PA      | $66056.46     | 0.00%             | 2037-10-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                             | Cleveland-Cliffs Inc                                                             | CUSIP: 18589GAA3<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |      6704000 | PA      | $6771938.34   | 0.04%             | 2034-01-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: —       |
| BBVA consumer auto                                               | Bbva Consumer Auto 2025-1 FT                                                     | CUSIP: 000000000<br>LEI: 959800MMSVSVXFLRQM04 | Long             | ABS-O            | CORP              | ES        |        93674 | PA      | $110568.86    | 0.00%             | 2042-05-19      | Floating      | 3.31%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos Loan Fund 2024-1 Ltd                                                      | CUSIP: 037986AW6<br>LEI: 5493006I0ZVKOEXXC849 | Long             | ABS-CBDO         | CORP              | KY        |      1930000 | PA      | $1934055.12   | 0.01%             | 2038-10-25      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2023-A                                 | CUSIP: 638961AA0<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |       189225 | PA      | $192832.21    | 0.00%             | 2071-10-15      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                           | USD P MXN C @17.55000 EO                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |    -40708000 | OU      | $-382980.86   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XXX LTD                                                     | CUSIP: 55821TAL1<br>LEI: 549300FFTJ3WPTJK8589 | Long             | ABS-CBDO         | CORP              | KY        |      1375000 | PA      | $1377802.11   | 0.01%             | 2037-07-16      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| THE 2023-MIC Trust                                               | 2023-MIC Trust/THE                                                               | CUSIP: 87256GAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6040000 | PA      | $6429750.33   | 0.04%             | 2038-12-05      | Variable      | 8.73%                 | No            |                  2 | On Loan: No      |
| MICHAELS COS INC/THE                                             | Michaels Cos Inc/The                                                             | CUSIP: 59408QAB2<br>LEI: 549300H9LWMBP7HYLR98 | Long             | DBT              | CORP              | US        |      7194000 | PA      | $7104433.98   | 0.04%             | 2033-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Mila B.V.                                                        | Mila 2024-1 BV                                                                   | CUSIP: 000000000<br>LEI: 7245000GAIRCK7Y7VJ68 | Long             | ABS-O            | CORP              | NL        |        69102 | PA      | $81069.58     | 0.00%             | 2041-09-16      | Floating      | 2.93%                 | No            |                  2 | On Loan: No      |
| Summer (BC) Holdco B Sa rl                                       | Summer (BC) Holdco B Sa rl 2024 USD Term Loan B                                  | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | LON              | CORP              | LU        |      2992386 | PA      | $2510791.22   | 0.01%             | 2029-02-15      | Floating      | 8.93%                 | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | LendingClub Rated Notes Issuer Trust Series 2025-P2                              | CUSIP: 525949AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       229000 | PA      | $227960.87    | 0.00%             | 2035-12-15      | Fixed         | 6.47%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | Santander Consumo 10 FT                                                          | CUSIP: 000000000<br>LEI: 9845003Q6DEF3R087B56 | Long             | ABS-O            | CORP              | ES        |      3100000 | PA      | $3640471.55   | 0.02%             | 2041-05-22      | Floating      | 3.34%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 22 Ltd                                                        | CUSIP: 67121HAA3<br>LEI: 2549003SYMVHPGWUV286 | Long             | ABS-CBDO         | CORP              | KY        |      2050000 | PA      | $2054266.46   | 0.01%             | 2038-07-20      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED PEN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | PE        |            1 | NC      | $70557.60     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                               | Vodafone Group PLC                                                               | CUSIP: 92857WBW9<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |      3660000 | PA      | $3409438.60   | 0.02%             | 2081-06-04      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2021-4                                    | CUSIP: 92258DAN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       346051 | PA      | $284870.28    | 0.00%             | 2051-12-26      | Variable      | 4.48%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2022-SFR1                                    | CUSIP: 64831KAN6<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-O            | CORP              | US        |       258000 | PA      | $253731.05    | 0.00%             | 2039-02-17      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| Aurium CLO                                                       | Aurium Clo XIII DAC                                                              | CUSIP: 000000000<br>LEI: 635400NUJFLZMWBUGF89 | Long             | ABS-CBDO         | CORP              | IE        |      1100000 | PA      | $1272258.15   | 0.01%             | 2038-04-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| STILLWATER MINING CO                                             | Stillwater Mining Co                                                             | CUSIP: 000000000<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |      1931000 | PA      | $1840484.38   | 0.01%             | 2029-11-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                                              | SG Residential Mortgage Trust 2021-1                                             | CUSIP: 784212AA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3680611 | PA      | $3095797.34   | 0.02%             | 2061-07-25      | Variable      | 1.16%                 | No            |                  2 | On Loan: No      |
| Taurus CMBS                                                      | Taurus 2025-4 UK DAC                                                             | CUSIP: 000000000<br>LEI: 635400ARN6VSOEBJXY74 | Long             | ABS-MBS          | CORP              | IE        |       782000 | PA      | $1061453.46   | 0.01%             | 2035-08-18      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| MAIN Trust                                                       | MAIN Trust 2026-OLAS                                                             | CUSIP: 56036BAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1400000 | PA      | $1399980.79   | 0.01%             | 2041-01-15      | Floating      | 8.90%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance Issuance Trust 2025-A                                            | CUSIP: 567920AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2074000 | PA      | $2086599.34   | 0.01%             | 2038-05-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2025-NQM5                                    | CUSIP: 64832GAH7<br>LEI: 213800USJ6KQFZEWGZ76 | Long             | ABS-MBS          | CORP              | US        |       833333 | PA      | $816963.67    | 0.00%             | 2065-08-25      | Variable      | 7.39%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD CLP                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $15762.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 13 Ltd                                                        | CUSIP: 67116CAL7<br>LEI: 254900P7TOYX9E9JQ066 | Long             | ABS-CBDO         | CORP              | BM        |       751000 | PA      | $752813.21    | 0.00%             | 2037-07-20      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Avoca CLO                                                        | Avoca CLO XVIII DAC                                                              | CUSIP: 000000000<br>LEI: 549300K6K5XESJRIKM24 | Long             | ABS-CBDO         | CORP              | IE        |      1170000 | PA      | $1368619.18   | 0.01%             | 2038-01-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 6.269700 17-SEP-2030 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    168541811 | OU      | $22683.71     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2025-2 DAC                                             | CUSIP: 000000000<br>LEI: 635400FJ7YX914D6HX74 | Long             | ABS-O            | CORP              | IE        |       100000 | PA      | $117228.71    | 0.00%             | 2035-10-18      | Floating      | 3.15%                 | No            |                  2 | On Loan: No      |
| Garfunkelux Holdco 3 S.A.                                        | Garfunkelux Holdco 3 SA EUR Term Loan                                            | CUSIP: 000000000<br>LEI: 2221007QVSNJV7EWBX69 | Long             | LON              | CORP              | LU        |      8000000 | PA      | $9060575.58   | 0.05%             | 2028-08-01      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| Mortimer BTL Plc                                                 | Mortimer 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800PI5SCJ8WPLJX58 | Long             | ABS-MBS          | CORP              | GB        |       429000 | PA      | $586316.75    | 0.00%             | 2070-09-22      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| KRAKATAU POSCO PT                                                | Krakatau Posco PT                                                                | CUSIP: 000000000<br>LEI: 98450003F1F2D08D9C16 | Long             | DBT              | CORP              | ID        |      2000000 | PA      | $2021980.00   | 0.01%             | 2029-06-11      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Residential Mortgage Loan Trust                                  | Residential Mortgage Loan Trust 2021-1R                                          | CUSIP: 76090NAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       539931 | PA      | $525656.91    | 0.00%             | 2065-01-25      | Variable      | 0.86%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      1665164 | PA      | $1565254.16   | 0.01%             | 2036-05-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Castell                                                          | Castell 2025-1 PLC                                                               | CUSIP: 000000000<br>LEI: 2138002O8DSFIQGKRU14 | Long             | ABS-MBS          | CORP              | GB        |        99999 | PA      | $137968.16    | 0.00%             | 2062-01-27      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.658800 17-DEC-2026 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     77713381 | OU      | $15348.15     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HHLV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5644457 | PA      | $5732680.52   | 0.03%             | 2054-12-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XIV Ltd                                                             | CUSIP: 89641QBC3<br>LEI: 549300095MXHZZMH2053 | Long             | ABS-CBDO         | CORP              | KY        |      1245000 | PA      | $1246627.71   | 0.01%             | 2034-01-25      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Ukraine Government International Bonds                           | Ukraine Government International Bonds                                           | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |        63809 | PA      | $30054.04     | 0.00%             | 2034-02-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                               | Chase Home Lending Mortgage Trust Series 2025-12                                 | CUSIP: 16160CAJ4<br>LEI: 529900A7SLLSJMEDIN80 | Long             | ABS-MBS          | CORP              | US        |     12132233 | PA      | $12136524.35  | 0.07%             | 2056-09-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| BBVA Consumo FTA                                                 | Bbva Consumer 2026-1 Fondo de Titulizacion                                       | CUSIP: 000000000<br>LEI: 9598008ZNM97MVXBD120 | Long             | ABS-O            | CORP              | ES        |       500000 | PA      | $586366.53    | 0.00%             | 2039-05-20      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                                           | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |      1097000 | PA      | $1026545.50   | 0.01%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Golden Ray S.A.                                                  | Golden Ray SA - Compartment 1                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       100000 | PA      | $116776.74    | 0.00%             | 2057-12-27      | Floating      | 3.47%                 | No            |                  2 | On Loan: No      |
| Hilton USA Trust                                                 | Hilton USA Trust 2016-HHV                                                        | CUSIP: 43300LAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       200000 | PA      | $199175.56    | 0.00%             | 2038-11-05      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM7                         | CUSIP: 61779KAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2712000 | PA      | $2690583.88   | 0.02%             | 2070-09-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                           | Egypt Government International Bond                                              | CUSIP: 03846JAC4<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |       779000 | PA      | $622557.33    | 0.00%             | 2061-02-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| APA INFRASTRUCTURE LTD                                           | APA Infrastructure Ltd                                                           | CUSIP: 000000000<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | DBT              | CORP              | AU        |      2400000 | PA      | $1719569.33   | 0.01%             | 2036-04-28      | Fixed         | 6.42%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                                        | PG&E Corp                                                                        | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |       298000 | PA      | $295009.75    | 0.00%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2024-2                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |       100000 | PA      | $136607.43    | 0.00%             | 2032-07-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| CENTRAL PLAZA DEV LTD                                            | Central Plaza Development Ltd                                                    | CUSIP: 000000000<br>LEI: 254900HLDKFNM2WUVJ54 | Long             | DBT              | CORP              | VG        |       870000 | PA      | $867825.00    | 0.01%             | 2029-04-07      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Arbour CLO                                                       | Arbour CLO VI DAC                                                                | CUSIP: 000000000<br>LEI: 635400HEJB8VLV1GBH66 | Long             | ABS-CBDO         | CORP              | IE        |      1150000 | PA      | $1347831.19   | 0.01%             | 2037-11-15      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| XEROX CORPORATION                                                | Xerox Corp                                                                       | CUSIP: 984121CS0<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |      8169000 | PA      | $6821115.00   | 0.04%             | 2030-10-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| Taurus CMBS                                                      | Taurus 2025-4 UK DAC                                                             | CUSIP: 000000000<br>LEI: 635400ARN6VSOEBJXY74 | Long             | ABS-MBS          | CORP              | IE        |       129000 | PA      | $174845.10    | 0.00%             | 2035-08-18      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| Aenova Holding GmbH                                              | Aenova Holding GmbH 2025 EUR Repriced Term Loan B                                | CUSIP: 000000000<br>LEI: 529900MPQ4WWJFDTB881 | Long             | LON              | CORP              | DE        |      1000000 | PA      | $1179095.42   | 0.01%             | 2031-08-22      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2020-3                                                  | CUSIP: 46592ABC7<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       367681 | PA      | $368848.27    | 0.00%             | 2050-08-25      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | MX        |            1 | NC      | $75750.90     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Countrywide Home Equity Loan Trust                               | CWHEQ Revolving Home Equity Loan Trust Series 2006-F                             | CUSIP: 23242LAA1<br>LEI: 254900WKCCG7QRE77W83 | Long             | ABS-O            | CORP              | US        |      1048748 | PA      | $1000432.07   | 0.01%             | 2036-07-15      | Floating      | 3.91%                 | No            |                  2 | On Loan: No      |
| EQUINIX ASIA FIN CORP                                            | Equinix Asia Financing Corp Pte Ltd                                              | CUSIP: 000000000<br>LEI: 2549002E9B0F5FQ3X427 | Long             | DBT              |  | SG        |      3500000 | PA      | $2660472.97   | 0.02%             | 2032-09-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                    | EchoStar Corp                                                                    | CUSIP: 278768AC0<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |      5725000 | PA      | $6215932.55   | 0.04%             | 2029-11-30      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| NEWDAY PARTNERSHIP FUNDING PLC                                   | Newday Funding Master Issuer PLC - Series 2026-1                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | GB        |      3642000 | PA      | $4961296.96   | 0.03%             | 2034-03-15      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO 2018-3 Ltd                                                      | CUSIP: 09630AAN6<br>LEI: 549300NUS8PQQUZMPR50 | Long             | ABS-CBDO         | CORP              | KY        |      2073775 | PA      | $2072798.40   | 0.01%             | 2030-10-25      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Rockford Tower Europe CLO                                        | Rockford Tower Europe Clo 2025-3 DAC                                             | CUSIP: 000000000<br>LEI: 6354009EFUWKAOBABO62 | Long             | ABS-CBDO         | CORP              | IE        |      2550000 | PA      | $3016585.75   | 0.02%             | 2040-01-15      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                                             | FS Rialto 2024-FL9 Issuer LLC                                                    | CUSIP: 30338WAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      4000000 | PA      | $4001758.80   | 0.02%             | 2039-10-19      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                          | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              |  | US        |     11947000 | PA      | $14160532.63  | 0.08%             | 2032-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                                            | DB Master Finance LLC                                                            | CUSIP: 233046AU5<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |      5249842 | PA      | $5199810.98   | 0.03%             | 2055-08-20      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| MAXAM PRILL SARL                                                 | Maxam Prill Sarl                                                                 | CUSIP: 000000000<br>LEI: 984500C4C5B820A6B691 | Long             | DBT              | CORP              | LU        |     23320000 | PA      | $27639318.24  | 0.16%             | 2030-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Eaton Vance CLO Ltd                               | Morgan Stanley Eaton Vance CLO 2022-18 Ltd                                       | CUSIP: 617924AS4<br>LEI: 549300O0I1STG733YG49 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2005928.60   | 0.01%             | 2037-10-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| ALMAVIVA THE ITALIAN INN                                         | Almaviva-The Italian Innovation Co SpA                                           | CUSIP: 000000000<br>LEI: 815600A862DA4DD9E211 | Long             | DBT              | CORP              | IT        |     10891000 | PA      | $12266178.84  | 0.07%             | 2030-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Debt Capital CLO, Ltd                                      | Texas Debt Capital CLO 2024-I Ltd                                                | CUSIP: 88240KAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $1994882.00   | 0.01%             | 2037-04-22      | Floating      | 9.66%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2025-INV4                                                                   | CUSIP: 26846DAJ3<br>LEI: 254900KQZEY4W9F3MX66 | Long             | ABS-MBS          | CORP              | US        |      3125000 | PA      | $3120480.63   | 0.02%             | 2070-10-25      | Variable      | 6.84%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                        | Towd Point Mortgage Trust 2024-CES4                                              | CUSIP: 89182QAA3<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |      3046203 | PA      | $3040086.68   | 0.02%             | 2064-09-25      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                         | Foundation Finance Trust 2024-2                                                  | CUSIP: 35040VAB5<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |      3630456 | PA      | $3620493.59   | 0.02%             | 2050-03-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                               | A&D Mortgage Trust 2024-NQM4                                                     | CUSIP: 002939AC0<br>LEI: 98450000E04EA82B8915 | Long             | ABS-MBS          | CORP              | US        |      1196243 | PA      | $1199024.09   | 0.01%             | 2069-08-25      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2015-1                                       | CUSIP: 64829CAB4<br>LEI: 549300RCJSGOC0A85G53 | Long             | ABS-MBS          | CORP              | US        |        82159 | PA      | $78908.13     | 0.00%             | 2052-05-28      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2021-8                                                | CUSIP: 92538GAA0<br>LEI: 213800278TKDEXPH6140 | Long             | ABS-MBS          | CORP              | US        |      2473215 | PA      | $2265814.78   | 0.01%             | 2066-11-25      | Variable      | 2.82%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 3.922300 03-NOV-2027 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |       478575 | OU      | $1544.39      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                                     | Barclays Mortgage Loan Trust 2024-NQM1                                           | CUSIP: 06745AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2141101 | PA      | $2150227.02   | 0.01%             | 2064-01-25      | Variable      | 5.90%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                          | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    874068900 | PA      | $42002932.28  | 0.25%             | 2042-11-13      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                        | Towd Point Mortgage Trust 2024-CES6                                              | CUSIP: 891947AA1<br>LEI: 25490024AP9UCHO22G82 | Long             | ABS-MBS          | CORP              | US        |      8126970 | PA      | $8161683.13   | 0.05%             | 2064-11-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                           | USD P ZAR C @16.80000 EO                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |      9567000 | OU      | $114411.75    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.750000 03-JAN-2028 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    149709000 | OU      | $-30281.75    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BWKS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2848196 | PA      | $2892424.96   | 0.02%             | 2055-06-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2021-NQM7 Trust                                                             | CUSIP: 36167YAA6<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |        42637 | PA      | $39688.76     | 0.00%             | 2066-08-25      | Variable      | 1.92%                 | No            |                  2 | On Loan: No      |
| Cheshire                                                         | Cheshire 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 635400KAD9IOWKUKQR96 | Long             | ABS-MBS          | CORP              | GB        |      1642714 | PA      | $2231759.83   | 0.01%             | 2048-06-28      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| SDAL Trust                                                       | SDAL Trust 2025-DAL                                                              | CUSIP: 78437RAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10496000 | PA      | $10495996.85  | 0.06%             | 2042-04-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| Boxer Parent Company Inc                                         | Boxer Parent Company Inc 2025 EUR Term Loan B                                    | CUSIP: 05988HAP2<br>LEI: 5493006T045HLTF7YX04 | Long             | LON              | CORP              | US        |      1965125 | PA      | $2207725.10   | 0.01%             | 2031-07-30      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                                 | GGAM Finance Ltd                                                                 | CUSIP: 36170JAD8<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |      1971000 | PA      | $2013632.73   | 0.01%             | 2029-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                           | NextEra Energy Capital Holdings Inc                                              | CUSIP: 000000000<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     16900000 | PA      | $19107082.76  | 0.11%             | 2056-02-26      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                                          | Asbury Automotive Group Inc                                                      | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |       692000 | PA      | $663579.53    | 0.00%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED COP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CO        |            1 | NC      | $35949.46     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance issuance Trust 2024-B                                            | CUSIP: 56847GAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2340000 | PA      | $2361396.96   | 0.01%             | 2038-11-20      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HHC90<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      5874066 | PA      | $5914811.08   | 0.04%             | 2054-11-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Thunder Logistics                                                | Thunder Logistics 2024-1 DAC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |       699956 | PA      | $821509.29    | 0.00%             | 2036-11-17      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| PACIFICORP                                                       | PacifiCorp                                                                       | CUSIP: 695114DG0<br>LEI: SGY07Y7FNYBNLM6Z1M11 | Long             | DBT              | CORP              | US        |      3051000 | PA      | $3041045.81   | 0.02%             | 2056-08-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| London Cards Plc                                                 | London Cards No3 PLC                                                             | CUSIP: 000000000<br>LEI: 635400THJ5YVVA4HYO05 | Long             | ABS-O            | CORP              | GB        |      1077000 | PA      | $1466288.05   | 0.01%             | 2035-12-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                 | TRESTLES CLO II LTD                                                              | CUSIP: 89531MAJ1<br>LEI: 6354005OLPZ8XONXGL10 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $751532.03    | 0.00%             | 2037-07-25      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2021-E                                 | CUSIP: 63942EAA6<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |      6495467 | PA      | $5805728.69   | 0.03%             | 2069-12-16      | Fixed         | 0.97%                 | No            |                  2 | On Loan: No      |
| Merit                                                            | MHP 2021-STOR                                                                    | CUSIP: 55293BAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4720000 | PA      | $4717050.00   | 0.03%             | 2038-07-15      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                    | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      2506000 | PA      | $2472843.36   | 0.01%             | 2029-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| DIGITAL DUTCH FINCO BV                                           | Digital Dutch Finco BV                                                           | CUSIP: 000000000<br>LEI: 549300ONZ5IS6B6IMJ70 | Long             | DBT              |  | NL        |      4500000 | PA      | $4716831.33   | 0.03%             | 2031-02-01      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| Penta CLO S.A.                                                   | Penta CLO 17 DAC                                                                 | CUSIP: 000000000<br>LEI: 254900P6EQ7DE06DX267 | Long             | ABS-CBDO         | CORP              | IE        |      2700000 | PA      | $3121220.57   | 0.02%             | 2039-02-15      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                                  | Gen Digital Inc                                                                  | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |      3341000 | PA      | $3354778.28   | 0.02%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $606534.79    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                                          | National Australia Bank Ltd                                                      | CUSIP: 000000000<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |      3000000 | PA      | $2064212.36   | 0.01%             | 2040-07-30      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                        | Sunoco LP                                                                        | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |      1978000 | PA      | $2042585.66   | 0.01%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MUANGTHAI CAPITAL PCL                                            | Muangthai Capital PCL                                                            | CUSIP: 000000000<br>LEI: 254900ZI1FO2W9132C98 | Long             | DBT              | CORP              | TH        |      1360000 | PA      | $1379240.60   | 0.01%             | 2030-07-21      | Fixed         | 7.55%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                | Iron Mountain Inc                                                                | CUSIP: 46284VAJ0<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      5545000 | PA      | $5487618.51   | 0.03%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UK Logisitics                                                    | UK Logistics 2025-2 DAC                                                          | CUSIP: 000000000<br>LEI: 635400CRV6HKMHJF8S64 | Long             | ABS-MBS          | CORP              | IE        |      2238374 | PA      | $3053573.19   | 0.02%             | 2035-08-17      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                      | Southern Co/The                                                                  | CUSIP: 000000000<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |     19027000 | PA      | $21681877.06  | 0.13%             | 2081-09-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO                                         | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAK0<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |      1501000 | PA      | $1500477.55   | 0.01%             | 2028-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 8.650000 07-FEB-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     41508685 | OU      | $-76726.55    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trust                                  | CSAIL 2019-C16 Commercial Mortgage Trust                                         | CUSIP: 12596WAG9<br>LEI: 549300UFJ8EKD81Y8R30 | Long             | ABS-MBS          | CORP              | US        |       915000 | PA      | $873736.89    | 0.01%             | 2052-06-15      | Fixed         | 3.61%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2017-5                                                  | CUSIP: 46590YAB0<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1256513 | PA      | $1254855.72   | 0.01%             | 2048-10-26      | Variable      | 4.72%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2026-RCF1 Trust                                                             | CUSIP: 69383VAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1625000 | PA      | $1621889.43   | 0.01%             | 2056-01-25      | Variable      | 5.21%                 | No            |                  2 | On Loan: No      |
| Babson CLO Ltd                                                   | Barings CLO Ltd 2024-II                                                          | CUSIP: 067936AA2<br>LEI: 549300KMDW0AZOKOC583 | Long             | ABS-CBDO         | CORP              | KY        |      1200000 | PA      | $1201550.52   | 0.01%             | 2039-07-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Bryant Park Funding Ltd                                          | Bryant Park Funding 2024-25 Ltd                                                  | CUSIP: 117913AA1<br>LEI: 391200WG98O5N39H7C57 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2505279.00   | 0.01%             | 2038-01-18      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | FSWP: OIS 8.610000 17-SEP-2026 IBR                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |   1913280944 | OU      | $9973.77      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                           | Turkiye Government International Bonds                                           | CUSIP: 900123DJ6<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      3815000 | PA      | $4212027.05   | 0.02%             | 2030-07-13      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                               | Regional Management Issuance Trust 2024-1                                        | CUSIP: 758983AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1371000 | PA      | $1388291.05   | 0.01%             | 2036-07-15      | Fixed         | 5.83%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |       540000 | PA      | $638524.11    | 0.00%             | 2039-07-11      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                            | KKR CLO 21 Ltd                                                                   | CUSIP: 48252KAC3<br>LEI: 5493008X0MRR4A6VYF15 | Long             | ABS-CBDO         | CORP              | KY        |      1172000 | PA      | $1171916.55   | 0.01%             | 2031-04-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| AGL CLO 5 Ltd                                                    | AGL CLO 5 Ltd                                                                    | CUSIP: 00119TBM5<br>LEI: 549300N06ILVP775P131 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002061.10   | 0.01%             | 2039-01-20      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                  | SWAP/CDSWAP/ICE: (CDX.NA.HY.45.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    131082930 | OU      | $10336433.04  | 0.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Post CLO LTD                                                     | Post CLO VI Ltd                                                                  | CUSIP: 73742RAA8<br>LEI: 5493007CUC7FI0ONIF25 | Long             | ABS-CBDO         | CORP              | KY        |      1750000 | PA      | $1752992.68   | 0.01%             | 2038-01-20      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                                     | US Foods Inc                                                                     | CUSIP: 90290MAG6<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |      4822000 | PA      | $4923840.64   | 0.03%             | 2028-09-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ITALMATCH CHEMICALS SPA                                          | Italmatch Chemicals SpA                                                          | CUSIP: 000000000<br>LEI: 815600E7294ACCE76074 | Long             | DBT              | CORP              | IT        |      3886000 | PA      | $4516038.63   | 0.03%             | 2031-02-05      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                                          | Turkiye Government Bond                                                          | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    234669735 | PA      | $4347010.18   | 0.03%             | 2033-10-05      | Fixed         | 26.20%                | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                                            | McGraw-Hill Education Inc                                                        | CUSIP: 57767XAA8<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |       779000 | PA      | $773090.35    | 0.00%             | 2028-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HHSB8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2946728 | PA      | $2983515.54   | 0.02%             | 2054-02-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CZK 3.903000 17-DEC-2030 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    145477060 | OU      | $-129787.66   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-6                                                | CUSIP: 92540YAA7<br>LEI: 213800KZO2G8SSFFDH61 | Long             | ABS-MBS          | CORP              | US        |     12589159 | PA      | $12665888.87  | 0.08%             | 2070-07-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Atrium Hotel Portfolio Trust                                     | Atrium Hotel Portfolio Trust 2025-ATRM                                           | CUSIP: 049917AL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8168000 | PA      | $8087903.78   | 0.05%             | 2042-08-15      | Floating      | 9.15%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-4                                                | CUSIP: 92540UAH0<br>LEI: 2138009ZO3B2B5MAHZ49 | Long             | ABS-MBS          | CORP              | US        |       500000 | PA      | $495047.90    | 0.00%             | 2070-05-25      | Variable      | 7.45%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Issuer Trust 2024-2                                    | CUSIP: 39571XAD6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       547050 | PA      | $548880.28    | 0.00%             | 2059-10-27      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Golden Ray S.A.                                                  | Golden Ray SA Compartment 2                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |      3628969 | PA      | $4272278.08   | 0.03%             | 2058-12-27      | Floating      | 2.91%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                                     | AGL CLO 39 Ltd                                                                   | CUSIP: 00121YAA7<br>LEI: 54930001FYWQPYWEPQ30 | Long             | ABS-CBDO         | CORP              | KY        |      1300000 | PA      | $1260978.55   | 0.01%             | 2038-04-20      | Floating      | 8.18%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                                               | Mattamy Group Corp                                                               | CUSIP: 57701RAQ5<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |      2091000 | PA      | $2007496.96   | 0.01%             | 2033-12-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHNGE Mortgage Trust 2022-1                                      | CHNGE Mortgage Trust 2022-1                                                      | CUSIP: 17030JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1668409 | PA      | $1608114.82   | 0.01%             | 2067-01-25      | Variable      | 4.01%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                               | SWP: OIS 13.420000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |     18431094 | OU      | $-66388.53    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                  | SWAP/CDSWAP/ICE: (ITRAXX.XO.44.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     27428000 | OU      | $-3340115.61  | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| STONEX ESCROW ISSUER LLC                                         | Stonex Escrow Issuer LLC                                                         | CUSIP: 86189AAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1361000 | PA      | $1407199.15   | 0.01%             | 2032-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Jersey Mikes Funding LLC                                         | Jersey Mike's Funding LLC                                                        | CUSIP: 476681AG6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14674000 | PA      | $14460656.18  | 0.09%             | 2056-02-15      | Fixed         | 5.48%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                 | Trestles CLO VII Ltd                                                             | CUSIP: 89532XAC1<br>LEI: 254900F81BZ53L0B6092 | Long             | ABS-CBDO         | CORP              | KY        |      2300000 | PA      | $2304503.40   | 0.01%             | 2037-10-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                                          | Turkiye Government Bond                                                          | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    202846000 | PA      | $3934834.63   | 0.02%             | 2034-09-27      | Fixed         | 27.70%                | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.047300 17-SEP-2027 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     17911382 | OU      | $-82867.06    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2021-1                                                    | CUSIP: 52607MAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       710000 | PA      | $677468.01    | 0.00%             | 2031-11-20      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| EQUATE PETROCHEMICAL CO                                          | Equate Petrochemical Co KSCC                                                     | CUSIP: 000000000<br>LEI: 635400J73BDO4TTGXD45 | Long             | DBT              | CORP              | KW        |       678000 | PA      | $675423.60    | 0.00%             | 2026-11-03      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TICP CLO Ltd                                                     | TICP CLO VI 2016-2 Ltd                                                           | CUSIP: 87246MAS1<br>LEI: 254900JG2DPAYUCW8T83 | Long             | ABS-CBDO         | CORP              | KY        |       243084 | PA      | $243154.48    | 0.00%             | 2034-01-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| MTN Commercial Mortgage Trust 2022-LPFL                          | MTN Commercial Mortgage Trust 2022-LPFL                                          | CUSIP: 62475WAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2041000 | PA      | $2040362.19   | 0.01%             | 2039-03-15      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.460000 26-AUG-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     45990325 | OU      | $-31380.72    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Student Loan Trust                                                       | CUSIP: 63942TAB1<br>LEI: 549300761SV59SBM0Z40 | Long             | ABS-O            | CORP              | US        |      1123110 | PA      | $1128882.37   | 0.01%             | 2072-03-15      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| Tower Bridge Funding                                             | Tower Bridge Funding 2026-1 PLC                                                  | CUSIP: 000000000<br>LEI: 213800RFTUPOIEPDEP07 | Long             | ABS-O            | CORP              | GB        |      2174798 | PA      | $2957905.03   | 0.02%             | 2073-01-20      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| ATI INC                                                          | ATI Inc                                                                          | CUSIP: 01741RAN2<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |      4286000 | PA      | $4463770.42   | 0.03%             | 2030-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 6.237200 17-DEC-2030 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    224158322 | OU      | $8587.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                    | ZF North America Capital Inc                                                     | CUSIP: 98877DAG0<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |      2133000 | PA      | $2087276.59   | 0.01%             | 2032-04-23      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                                   | Open Text Corp                                                                   | CUSIP: 683715AD8<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |      5623000 | PA      | $5067944.00   | 0.03%             | 2029-12-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2022-3                                                  | CUSIP: 03464TAC3<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      7849063 | PA      | $7292029.96   | 0.04%             | 2067-01-25      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                 | Symphony CLO 40 Ltd                                                              | CUSIP: 871989AP4<br>LEI: 25490001HYY3IX1I5Z32 | Long             | ABS-CBDO         | CORP              | BM        |      2000000 | PA      | $2004291.60   | 0.01%             | 2038-01-05      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2022-NQM5 Trust                                                             | CUSIP: 36168WAA9<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |       277980 | PA      | $278207.55    | 0.00%             | 2067-08-25      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| RUBIX GROUP MIDCO 3 LIMITED                                      | Rubix Group Midco 3 Limited 2026 EUR Term Loan B                                 | CUSIP: 000000000<br>LEI: 213800ENCGCXQFBAPG24 | Long             | LON              | CORP              | GB        |      2000000 | PA      | $2324718.35   | 0.01%             | 2031-09-30      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Wireless PropCo Funding LLC                                      | Wireless PropCo Funding LLC                                                      | CUSIP: 97655EAG8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9225000 | PA      | $9271877.76   | 0.05%             | 2055-06-25      | Fixed         | 8.51%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2019-NQM4                                    | CUSIP: 64828EAA3<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      1396395 | PA      | $1345544.91   | 0.01%             | 2059-09-25      | Variable      | 2.49%                 | No            |                  2 | On Loan: No      |
| Madison Avenue Trust                                             | MAD Commercial Mortgage Trust 2025-11MD                                          | CUSIP: 55616AAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3927000 | PA      | $3908938.16   | 0.02%             | 2042-10-15      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.719300 17-SEP-2027 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      4828959 | OU      | $2551.92      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                              | Affirm Master Trust                                                              | CUSIP: 00833BAV0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2683000 | PA      | $2672291.61   | 0.02%             | 2034-02-15      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| BCP MODULAR SERVICES                                             | BCP V Modular Services Finance II PLC                                            | CUSIP: 000000000<br>LEI: 213800227GGD6UI7PI97 | Long             | DBT              | CORP              | GB        |      4195000 | PA      | $4655057.15   | 0.03%             | 2028-11-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD PEN                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-59811.16    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                                          | Flagstar Mortgage Trust 2019-1                                                   | CUSIP: 33852AAP2<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |       109811 | PA      | $99334.82     | 0.00%             | 2049-10-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                           | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAB1<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |      9082000 | PA      | $8240336.09   | 0.05%             | 2030-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Dowson 2026-1 Plc                                                | Dowson 2026-1 PLC                                                                | CUSIP: 000000000<br>LEI: 213800ARUDISHV4A5218 | Long             | ABS-O            | CORP              | GB        |      2036000 | PA      | $2770461.21   | 0.02%             | 2033-05-20      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                      | Rad CLO 18 Ltd                                                                   | CUSIP: 75009AAU4<br>LEI: 254900F50S9DCHTOVI65 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001342.10   | 0.01%             | 2037-07-15      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | CSMC 2021-BHAR                                                                   | CUSIP: 12659VAA8<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      1505000 | PA      | $1491360.94   | 0.01%             | 2038-11-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CZK 3.615000 18-MAR-2031 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     68176500 | OU      | $110829.86    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XXIX LTD                                                    | CUSIP: 55820CAW5<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |      3250000 | PA      | $3249976.28   | 0.02%             | 2038-03-25      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFRA 2024-NQM3 Trust                                                             | CUSIP: 55287GAD4<br>LEI: 254900T233AM4RM23465 | Long             | ABS-MBS          | CORP              | US        |      3529412 | PA      | $3574191.77   | 0.02%             | 2069-12-25      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                                                | Nexstar Media Inc                                                                | CUSIP: 65346UAB5<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |      1520000 | PA      | $1531697.92   | 0.01%             | 2033-09-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                                           | Republic of Poland Government Bond                                               | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |    100336000 | PA      | $28385028.93  | 0.17%             | 2029-04-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                      | PRKCM 2024-AFC1 Trust                                                            | CUSIP: 69380WAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       630177 | PA      | $634138.79    | 0.00%             | 2059-03-25      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |      3659000 | PA      | $4333653.43   | 0.03%             | 2034-04-22      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                             | TRSWAP: LQD US EQUITY                                                            | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |     49725675 | OU      | $-93654.13    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2024-NQM1 Trust                                                             | CUSIP: 693977AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1065578 | PA      | $1071687.53   | 0.01%             | 2068-12-25      | Variable      | 6.27%                 | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited                  | HOMES 2025-NQM5 Trust                                                            | CUSIP: 43762CAG6<br>LEI: 2549001JI3VOZZFMYK81 | Long             | ABS-MBS          | CORP              | US        |      2900000 | PA      | $2876555.82   | 0.02%             | 2070-09-25      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| Finastra USA Inc                                                 | Finastra USA Inc 2025 EUR Term Loan                                              | CUSIP: 31772YAE6<br>LEI: 549300ZB2RO6QC7YTK71 | Long             | LON              | CORP              | US        |      2796748 | PA      | $3101345.10   | 0.02%             | 2032-09-15      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2025-H6 Mortgage Trust                                                     | CUSIP: 22758TAH7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1636364 | PA      | $1628135.22   | 0.01%             | 2070-07-25      | Variable      | 7.55%                 | No            |                  2 | On Loan: No      |
| EDP SA                                                           | EDP SA                                                                           | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | DBT              | CORP              | PT        |      4700000 | PA      | $5577360.71   | 0.03%             | 2054-05-29      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                                          | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                  | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4949000 | PA      | $4930015.14   | 0.03%             | 2028-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Mariner Finance Issuance Trust                                   | Mariner Finance Issuance Trust 2024-A                                            | CUSIP: 567928AA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1600000 | PA      | $1611366.72   | 0.01%             | 2036-09-22      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                                    | FirstCash Inc                                                                    | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |       204000 | PA      | $203017.90    | 0.00%             | 2030-01-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Receivable Trust                        | Santander Mortgage Asset Receivable Trust 2025-NQM5                              | CUSIP: 80262CAG3<br>LEI: 254900FHBJ2YHHBOAU80 | Long             | ABS-MBS          | CORP              | US        |      3170000 | PA      | $3152133.88   | 0.02%             | 2065-08-25      | Variable      | 6.89%                 | No            |                  2 | On Loan: No      |
| Service Experts Issuer                                           | Service Experts Issuer 2021-1 LLC                                                | CUSIP: 81758VAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        15065 | PA      | $14862.20     | 0.00%             | 2032-02-02      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| Aimco                                                            | Aimco CLO 11 Ltd                                                                 | CUSIP: 00140NAY6<br>LEI: 549300VLRW0CEQ83RF89 | Long             | ABS-CBDO         | CORP              | KY        |       550000 | PA      | $552231.63    | 0.00%             | 2037-07-17      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| APLD COMPUTECO LLC                                               | APLD ComputeCo LLC                                                               | CUSIP: 00202DAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6079000 | PA      | $6534225.06   | 0.04%             | 2030-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED CLP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | CL        |            1 | NC      | $-990850.23   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| College Ave Student Loans                                        | College Ave Student Loans 2021-C LLC                                             | CUSIP: 19424WAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        63824 | PA      | $59165.83     | 0.00%             | 2055-07-26      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| AFG                                                              | AFG 2026-1 Trust                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |     11592000 | PA      | $8306270.95   | 0.05%             | 2057-10-10      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| HUNTSMAN INTERNATIONAL L                                         | Huntsman International LLC                                                       | CUSIP: 44701QBF8<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |      2237000 | PA      | $1910057.08   | 0.01%             | 2031-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HLLH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4030700 | PA      | $4093600.41   | 0.02%             | 2055-06-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| RESORTS WORLD/RWLV CAP                                           | Resorts World Las Vegas LLC / RWLV Capital Inc                                   | CUSIP: 76120HAD9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2200000 | PA      | $2178573.54   | 0.01%             | 2030-07-27      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| Sycamore Tree CLO Ltd                                            | Sycamore Tree CLO 2023-4 Ltd                                                     | CUSIP: 870923AS8<br>LEI: 5493000NGQSA68NFD567 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $2992074.00   | 0.02%             | 2038-10-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| Asimi Funding Holdings Limited                                   | Asimi Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800AXPL92U14G2M23 | Long             | ABS-O            | CORP              | GB        |       315696 | PA      | $429358.79    | 0.00%             | 2032-12-16      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                                  | Gen Digital Inc                                                                  | CUSIP: 668771AM0<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |      2100000 | PA      | $2046440.49   | 0.01%             | 2033-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                                              | SG Residential Mortgage Trust 2019-3                                             | CUSIP: 78432BAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $2876350.50   | 0.02%             | 2059-09-25      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| Italy Buoni Poliennali Del Tesoro                                | Italy Buoni Poliennali Del Tesoro                                                | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |     95259000 | PA      | $108439966.60 | 0.64%             | 2036-02-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| BAITEREK NATL INV HOLD                                           | Baiterek National Investment Holding JSC                                         | CUSIP: 000000000<br>LEI: 984500B4F78F04253804 | Long             | DBT              | NUSS              | KZ        |      1331000 | PA      | $1345907.20   | 0.01%             | 2028-05-08      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Partners XVI                                                          | CUSIP: 67115LAJ3<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |       625000 | PA      | $626204.81    | 0.00%             | 2037-10-18      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Turquoise V Trust                                                | TURQUOISE V TRUST SERIES 2026-1 TRUST                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      1440000 | PA      | $1035176.48   | 0.01%             | 2067-06-12      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | Fondo de Titulizacion Santander Consumo 9                                        | CUSIP: 000000000<br>LEI: 959800RE2YA509E01X80 | Long             | ABS-O            | CORP              | ES        |       400000 | PA      | $469442.50    | 0.00%             | 2040-10-25      | Floating      | 3.03%                 | No            |                  2 | On Loan: No      |
| Flatiron CLO Ltd                                                 | Flatiron CLO 23 LLC                                                              | CUSIP: 33883DAQ7<br>LEI: 254900WPX2H2R5L2RO76 | Long             | ABS-CBDO         | CORP              | US        |      2420000 | PA      | $2421401.18   | 0.01%             | 2036-04-17      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| SoFi Personal Loan Trust                                         | SoFi Personal Loan Trust 2023-1                                                  | CUSIP: 78474NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        38814 | PA      | $38987.77     | 0.00%             | 2030-11-12      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2020-NQM1 Trust                                                              | CUSIP: 552754AC7<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |       185099 | PA      | $179960.78    | 0.00%             | 2049-08-25      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| AGL CLO 5 Ltd                                                    | AGL CLO 5 Ltd                                                                    | CUSIP: 00119TBR4<br>LEI: 549300N06ILVP775P131 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $990204.00    | 0.01%             | 2039-01-20      | Floating      | 7.63%                 | No            |                  2 | On Loan: No      |
| HSBC BANK PLC                                                    | USD P INR C @94.0000 EO                                                          | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | KY        |     -7209000 | OU      | $-11570.45    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2017-A                                          | CUSIP: 78448WAD7<br>LEI: 5493000RGRVHYZAIY180 | Long             | ABS-O            | CORP              | US        |        59439 | PA      | $59081.21     | 0.00%             | 2041-06-17      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                          | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAG8<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |      2849000 | PA      | $3013045.42   | 0.02%             | 2034-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| London Wall Mortgage Capital                                     | London Wall Mortgage Capital PLC                                                 | CUSIP: 000000000<br>LEI: 213800QSO8J75OTK5919 | Long             | ABS-MBS          | CORP              | GB        |       281611 | PA      | $383407.24    | 0.00%             | 2057-05-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | Ares Loan Funding IV Ltd                                                         | CUSIP: 04020FAU8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $1000567.00   | 0.01%             | 2038-10-15      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| NEW KLEO HOLDCO                                                  | NEW KLEO HOLDCO                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | LU        |       586449 | NS      | $791528.54    | 0.00%             |  |  |  | No            |                  3 | On Loan: No      |
| NYC Trust                                                        | NYCT Trust 2024-3ELV                                                             | CUSIP: 62956HAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4000000 | PA      | $3980089.20   | 0.02%             | 2029-08-15      | Floating      | 7.49%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2026-XL6                                            | CUSIP: 12433NAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5900000 | PA      | $5863318.52   | 0.03%             | 2043-03-15      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| ALLWYN ENTERTAINMENT FIN                                         | Allwyn Entertainment Financing UK PLC                                            | CUSIP: 000000000<br>LEI: 315700J7ZTIN8XGCX365 | Long             | DBT              | CORP              | GB        |     10879200 | PA      | $13263144.00  | 0.08%             | 2030-04-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2025-1                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |      1989000 | PA      | $2710553.09   | 0.02%             | 2033-04-15      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                                         | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAU7<br>LEI: 549300164ZV2301BC703 | Long             | DBT              | CORP              | US        |      3322000 | PA      | $3326242.19   | 0.02%             | 2029-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                               | EUR P HUF C @365.0000 EO                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | LU        |      8177000 | OU      | $109961.67    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Telenet International Finance Sarl                               | Telenet International Finance Sarl 2020 EUR Term Loan AQ                         | CUSIP: 000000000<br>LEI: 213800UQWC6KB34WEQ10 | Long             | LON              | CORP              | LU        |      2000000 | PA      | $2345210.28   | 0.01%             | 2029-04-30      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| RevoCar                                                          | REVOCAR SA Compartment 2025-2                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       195450 | PA      | $228980.42    | 0.00%             | 2038-08-25      | Floating      | 2.74%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                | Post Holdings Inc                                                                | CUSIP: 737446AV6<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |      5193000 | PA      | $5190979.92   | 0.03%             | 2033-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Italy Buoni Poliennali Del Tesoro                                | Italy Buoni Poliennali Del Tesoro                                                | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |     12940000 | PA      | $14730504.92  | 0.09%             | 2036-02-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Equity One ABS Inc                                               | Equity One Mortgage Pass-Through Trust 2003-3                                    | CUSIP: 294751CU4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       516814 | PA      | $469631.47    | 0.00%             | 2033-12-25      | Variable      | 3.86%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM5                         | CUSIP: 61779BAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12370050 | PA      | $12413326.20  | 0.07%             | 2070-07-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                                           | Group 1 Automotive Inc                                                           | CUSIP: 398905AQ2<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |      1001000 | PA      | $1017264.25   | 0.01%             | 2030-01-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Verus Securitization Trust                                       | Verus Securitization Trust 2026-R1                                               | CUSIP: 924932AE6<br>LEI: 213800IRNLDELLG4XV07 | Long             | ABS-MBS          | CORP              | US        |      9406726 | PA      | $9361376.17   | 0.06%             | 2067-10-25      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Government National Mortgage Association                                         | CUSIP: 38384VMP9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      5245948 | PA      | $5281595.97   | 0.03%             | 2054-08-20      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.040000 17-DEC-2030 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     69348155 | OU      | $-389534.54   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Vantage Data Centers Jersey Borrower SPV Limited                 | Vantage Data Centers Jersey Borrower Spv Ltd                                     | CUSIP: 000000000<br>LEI: 213800S5S638C9IBQ379 | Long             | ABS-O            | CORP              | JE        |      3116000 | PA      | $4251027.09   | 0.03%             | 2039-05-28      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                                   | Wynn Macau Ltd                                                                   | CUSIP: 98313RAD8<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |      2505000 | PA      | $2495230.50   | 0.01%             | 2027-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| Trestles CLO LTD                                                 | Trestles CLO IX Ltd                                                              | CUSIP: 894932AC6<br>LEI: 254900TP9ZGKPKCMHR24 | Long             | ABS-CBDO         | CORP              | KY        |      6000000 | PA      | $6015181.80   | 0.04%             | 2039-01-15      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust Series 2025-NQM3                                        | CUSIP: 46659QAG4<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1300000 | PA      | $1302242.63   | 0.01%             | 2065-11-25      | Variable      | 6.42%                 | No            |                  2 | On Loan: No      |
| SHR Trust                                                        | SHR Trust 2024-LXRY                                                              | CUSIP: 784234AJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       225000 | PA      | $225984.38    | 0.00%             | 2041-10-15      | Floating      | 8.10%                 | No            |                  2 | On Loan: No      |
| CBAMR Ltd                                                        | CBAM 2018-5 Ltd                                                                  | CUSIP: 12516LAC9<br>LEI: 25490038OT2B8HTRW786 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3006653.70   | 0.02%             | 2038-10-17      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| CSAIL Commercial Mortgage Trust                                  | CSAIL 2019-C18 Commercial Mortgage Trust                                         | CUSIP: 12597DAJ4<br>LEI: 549300UFJ8EKD81Y8R30 | Long             | ABS-MBS          | CORP              | US        |        72000 | PA      | $67146.66     | 0.00%             | 2052-12-15      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| National RMBS Trust                                              | National RMBS Trust 2026-1                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      1200000 | PA      | $859888.34    | 0.01%             | 2057-10-20      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| KODIAK GAS SERVICES LLC                                          | Kodiak Gas Services LLC                                                          | CUSIP: 50012LAF1<br>LEI: 549300ZQBRWEUOVOM131 | Long             | DBT              | CORP              | US        |      4274000 | PA      | $4305054.46   | 0.03%             | 2031-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                                                   | PMT Loan Trust 2026-CNF1                                                         | CUSIP: 729920AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9652213 | PA      | $9439941.93   | 0.06%             | 2057-01-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 5.540000 18-JUN-2036 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1258119297 | OU      | $7147.44      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Romania Government International Bonds                           | Romania Government International Bonds                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |      4158000 | PA      | $3726607.50   | 0.02%             | 2032-03-27      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                                              | Sound Point CLO V-R LTD                                                          | CUSIP: 83607EAA0<br>LEI: 549300UPX3H8ENJXHI23 | Long             | ABS-CBDO         | CORP              | KY        |       184565 | PA      | $184642.93    | 0.00%             | 2031-07-18      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                                         | iHeartCommunications Inc                                                         | CUSIP: 45174HBM8<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |      5228000 | PA      | $5031950.00   | 0.03%             | 2030-08-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AROUNDTOWN FINANCE SARL                                          | Aroundtown Finance Sarl                                                          | CUSIP: 000000000<br>LEI: 8945006LEXV2KWSWVP51 | Long             | DBT              | CORP              | LU        |     18175000 | PA      | $20192058.90  | 0.12%             | 2031-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MOLOSSUS BTL                                                     | Molossus Btl 2025-1 PLC                                                          | CUSIP: 000000000<br>LEI: 635400EK2YUIDKJ84N95 | Long             | ABS-MBS          | CORP              | GB        |       160840 | PA      | $218938.82    | 0.00%             | 2063-03-17      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Serbia International Bonds                                       | Serbia International Bonds                                                       | CUSIP: 000000000<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |       528000 | PA      | $560340.00    | 0.00%             | 2033-09-26      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CFK Trust                                                        | CFK Trust 2020-MF2                                                               | CUSIP: 12529AAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       500000 | PA      | $466119.65    | 0.00%             | 2039-03-15      | Fixed         | 2.39%                 | No            |                  2 | On Loan: No      |
| SAMMAAN CAPITAL LTD                                              | Sammaan Capital Ltd                                                              | CUSIP: 000000000<br>LEI: 335800A2A3G53ZQZTQ21 | Long             | DBT              | CORP              | IN        |      4745000 | PA      | $4727206.25   | 0.03%             | 2030-10-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 41B-R Ltd                                             | CUSIP: 38178AAS2<br>LEI: 2549005QZPXI5WPU4V74 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3004824.00   | 0.02%             | 2038-07-20      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BVAP3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2058972 | PA      | $2088229.69   | 0.01%             | 2054-08-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 7 Ltd                                                         | CUSIP: 67098WAY7<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      6250000 | PA      | $6260368.75   | 0.04%             | 2038-07-19      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Castell                                                          | Castell 2025-1 PLC                                                               | CUSIP: 000000000<br>LEI: 2138002O8DSFIQGKRU14 | Long             | ABS-MBS          | CORP              | GB        |       133999 | PA      | $183337.84    | 0.00%             | 2062-01-27      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| iShares iBoxx USD High Yield Corporate Bond ETF                  | iShares iBoxx USD High Yield Corporate Bond ETF                                  | CUSIP: 464288513<br>LEI: 549300FCCXHK7O37PQ68 | Long             | EC               | RF                | US        |      2353270 | NS      | $189155842.60 | 1.12%             |  |  |  | No            |                  1 | On Loan: —       |
| DBC 2025-DBC Mortgage Trust                                      | DBC 2025-DBC Mortgage Trust                                                      | CUSIP: 23306HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12748000 | PA      | $12755967.50  | 0.08%             | 2042-11-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| ALEXANDRITE LAKE LUX HOL                                         | Alexandrite Lake Lux Holdings Sarl                                               | CUSIP: 000000000<br>LEI: 213800RY78YHYF5J8L55 | Long             | DBT              | CORP              | LU        |      5762000 | PA      | $6643852.18   | 0.04%             | 2030-07-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BR4Q7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3162271 | PA      | $3184492.29   | 0.02%             | 2054-06-25      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Latitude Australia Credit Card Loan Note Trust                   | Latitude Australia Credit Card Master Trust Series 2026-1                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | AU        |      2009000 | PA      | $1442228.80   | 0.01%             | 2038-09-22      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                             | Alpha Generation LLC                                                             | CUSIP: 02073LAA9<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |      1876000 | PA      | $1921410.46   | 0.01%             | 2032-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTL INC                                              | Somnigroup International Inc                                                     | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |       547000 | PA      | $505918.82    | 0.00%             | 2031-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd                                                | Cedar Funding XIV CLO Ltd                                                        | CUSIP: 15034AAL9<br>LEI: 549300PPJP6KEORGHQ85 | Long             | ABS-CBDO         | CORP              | KY        |       550000 | PA      | $551013.93    | 0.00%             | 2037-10-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2023-1                                          | CUSIP: 68269JAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3088000 | PA      | $3148335.51   | 0.02%             | 2038-06-14      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SOMPO HOLDINGS INC                                               | Sompo Holdings Inc                                                               | CUSIP: 000000000<br>LEI: 353800CWW4SRGEYEB512 | Long             | DBT              | CORP              | JP        |      4325000 | PA      | $4255583.01   | 0.03%             | 2037-04-22      | Fixed         | 5.41%                 | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                                          | Turkiye Government Bond                                                          | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |     57000000 | PA      | $1228688.88   | 0.01%             | 2030-10-02      | Fixed         | 33.90%                | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Issuer Trust 2024-2                                    | CUSIP: 39571XAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       418502 | PA      | $419133.13    | 0.00%             | 2059-10-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| FORTUNE STAR BVI LTD                                             | Fortune Star BVI Ltd                                                             | CUSIP: 000000000<br>LEI: 2549008CU8NYQQRSNU62 | Long             | DBT              | CORP              | VG        |      1030000 | PA      | $1150833.94   | 0.01%             | 2030-11-20      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | Ellington Financial Mortgage Trust 2022-2                                        | CUSIP: 31572YAA6<br>LEI: 254900UDLJF220C8I638 | Long             | ABS-MBS          | CORP              | US        |      6975113 | PA      | $6953919.91   | 0.04%             | 2067-04-25      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| TITANIUM 2L BONDCO SARL                                          | Titanium 2l Bondco Sarl                                                          | CUSIP: 000000000<br>LEI: 636700S4QMU2DWYOSF67 | Long             | DBT              | CORP              | LU        |      2697500 | PA      | $477181.36    | 0.00%             | 2031-01-14      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| LOTTOMATICA GROUP SPA                                            | Lottomatica Group Spa                                                            | CUSIP: 000000000<br>LEI: 549300R72LKEGT4EX026 | Long             | DBT              | CORP              | IT        |      1734000 | PA      | $2079504.81   | 0.01%             | 2030-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BELRON UK FINANCE PLC                                            | Belron UK Finance PLC                                                            | CUSIP: 080782AA3<br>LEI: 9845006BC9D1A77B8178 | Long             | DBT              | CORP              | GB        |      2044000 | PA      | $2064524.60   | 0.01%             | 2029-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Turquoise V Trust                                                | TURQUOISE V TRUST SERIES 2026-1 TRUST                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      2890000 | PA      | $2073777.16   | 0.01%             | 2067-06-12      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Youni Italy                                                      | Youni Italy 2025-2 Srl                                                           | CUSIP: 000000000<br>LEI: 8156001A7AEEA1E59607 | Long             | ABS-O            | CORP              | IT        |       207683 | PA      | $243683.19    | 0.00%             | 2036-01-25      | Floating      | 3.72%                 | No            |                  2 | On Loan: No      |
| Prosol SAS                                                       | Prosol SAS 2025 EUR Term Loan B                                                  | CUSIP: 000000000<br>LEI: 969500AEFV8YOHIJUO57 | Long             | LON              | CORP              | FR        |      1000000 | PA      | $1175856.15   | 0.01%             | 2031-07-12      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAX0<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      3395000 | PA      | $3355548.06   | 0.02%             | 2028-10-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-1                                    | CUSIP: 922955AG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1997443 | PA      | $2017068.82   | 0.01%             | 2055-02-25      | Variable      | 6.98%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                  | Nissan Motor Co Ltd                                                              | CUSIP: 654744AD3<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |      9234000 | PA      | $8623811.09   | 0.05%             | 2030-09-17      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2024-5 Mortgage Loan Trust                                                  | CUSIP: 19685AAA7<br>LEI: 213800AWBXHFGYDU9Q16 | Long             | ABS-MBS          | CORP              | US        |      4571031 | PA      | $4570870.11   | 0.03%             | 2069-08-25      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                                              | Churchill Downs Inc                                                              | CUSIP: 12511VAA6<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |       132000 | PA      | $131569.01    | 0.00%             | 2030-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ENGIE SA                                                         | Engie SA                                                                         | CUSIP: 000000000<br>LEI: LAXUQCHT4FH58LRZDY46 | Long             | DBT              | CORP              | FR        |     15700000 | PA      | $18426078.97  | 0.11%             | 2031-04-16      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| CENTRICA PLC                                                     | Centrica PLC                                                                     | CUSIP: 000000000<br>LEI: E26EDV109X6EEPBKVH76 | Long             | DBT              | CORP              | GB        |      5312000 | PA      | $7242889.23   | 0.04%             | 2055-05-21      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD IDR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $159554.60    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINME                                            | Six Flags Entertainment Corp                                                     | CUSIP: 83001AAD4<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |       200000 | PA      | $197200.64    | 0.00%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Barclays Bank PLC                                                | PURCHASED INR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | IN        |            1 | NC      | $-130053.64   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DANSKE BANK A/S                                                  | Danske Bank A/S                                                                  | CUSIP: 000000000<br>LEI: MAES062Z21O4RZ2U7M96 | Long             | DBT              | CORP              | DK        |      7100000 | PA      | $8216002.01   | 0.05%             | 2035-11-19      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2022-1 Mortgage Loan Trust                                                  | CUSIP: 19688HAF8<br>LEI: 2138001HZNOLT1K3WY73 | Long             | ABS-MBS          | CORP              | US        |       582000 | PA      | $507605.85    | 0.00%             | 2066-12-27      | Variable      | 4.17%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2016-12 Ltd                                                              | CUSIP: 67092RAY4<br>LEI: 254900U8BS6KLMI9K654 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2003840.40   | 0.01%             | 2037-10-18      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2026-NQM1                                    | CUSIP: 36276EAK6<br>LEI: 254900WEVNJASLS4UV47 | Long             | ABS-MBS          | CORP              | US        |       708236 | PA      | $699065.62    | 0.00%             | 2066-03-25      | Variable      | 7.59%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman Loan Advisers Clo 44 Ltd                                        | CUSIP: 64133VAQ0<br>LEI: 549300HMTDFWN3B2DI35 | Long             | ABS-CBDO         | CORP              | KY        |       425000 | PA      | $417620.73    | 0.00%             | 2035-10-16      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| CITADEL PLC                                                      | Citadel 2024-1 PLC                                                               | CUSIP: 000000000<br>LEI: 213800XKX6NBEB5W9Z43 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $138017.99    | 0.00%             | 2060-04-28      | Floating      | 6.19%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                      | PURCHASED USD / SOLD MXN                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $471064.56    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BFLD Trust                                                       | BFLD Commercial Mortgage Trust 2025-660F                                         | CUSIP: 05556QAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7248000 | PA      | $7252530.00   | 0.04%             | 2042-11-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Leased and Tenanted Pubs 1 LTD                                   | Leased and Tenanted Pubs 1 LTD GBP 2nd Lien Term Loan                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |      4926215 | PA      | $6368178.84   | 0.04%             | 2029-10-31      | Floating      | 13.34%                | No            |                  3 | On Loan: No      |
| INDUSTRIAS PENOLES SAB D                                         | Industrias Penoles SAB de CV                                                     | CUSIP: 000000000<br>LEI: 549300WA2HB7776CB324 | Long             | DBT              | CORP              | MX        |      2859000 | PA      | $2804679.00   | 0.02%             | 2029-09-12      | Fixed         | 4.15%                 | No            |                  2 | On Loan: —       |
| LCH Ltd.                                                         | FSWP: PLN 3.963300 17-SEP-2027 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      3270584 | OU      | $-13669.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                          | NYMT Loan Trust 2026-INV1                                                        | CUSIP: 62957GAC1<br>LEI: 254900Y31NJCJWYHMA05 | Long             | ABS-MBS          | CORP              | US        |      2426192 | PA      | $2417552.57   | 0.01%             | 2061-02-25      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |      1221000 | PA      | $1465717.18   | 0.01%             | 2034-09-10      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| London Bridge Mortgages                                          | London Bridge Mortgages 2025-1 PLC                                               | CUSIP: 000000000<br>LEI: 63540064LX89RJMR9I46 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $136024.62    | 0.00%             | 2067-03-20      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD THB                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $222311.15    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BONOS Y OBLIG DEL ESTADO                                         | Spain Government Bond                                                            | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |     64175000 | PA      | $74364827.95  | 0.44%             | 2029-03-31      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: OIS 2.980000 30-MAR-2056 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1880516794 | OU      | $-333861.80   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITADEL PLC                                                      | Citadel 2024-1 PLC                                                               | CUSIP: 000000000<br>LEI: 213800XKX6NBEB5W9Z43 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $136974.29    | 0.00%             | 2060-04-28      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| GARUDA INDONESIA TBK PT                                          | Garuda Indonesia Persero Tbk PT                                                  | CUSIP: 000000000<br>LEI: 254900CUWPNFYKQUW656 | Long             | DBT              | CORP              | ID        |      1385447 | PA      | $1170051.94   | 0.01%             | 2031-12-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Truist Bank Auto Credit-Linked Notes                             | Truist Bank Auto Credit-Linked Notes Series 2025-1                               | CUSIP: 897926CB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2758209 | PA      | $2757305.58   | 0.02%             | 2033-09-26      | Fixed         | 4.73%                 | No            |                  2 | On Loan: No      |
| Last Mile Securities                                             | Last Mile Securities PE 2021 DAC                                                 | CUSIP: 000000000<br>LEI: 635400UJZKP57EXKMQ33 | Long             | ABS-MBS          | CORP              | IE        |       914812 | PA      | $1073627.65   | 0.01%             | 2031-08-17      | Floating      | 4.35%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                                   | ARES Commercial Mortgage Trust 2026-AZURE                                        | CUSIP: 03990QAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2500000 | PA      | $2500000.00   | 0.01%             | 2038-03-15      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 16-R Ltd                                                      | CUSIP: 67122KAC1<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2001125.00   | 0.01%             | 2038-10-20      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| BENIN SUKUK SA                                                   | Benin Sukuk SA                                                                   | CUSIP: 000000000<br>LEI: 254900FAFYBRYHYVQK50 | Long             | DBT              | NUSS              | BJ        |      3007000 | PA      | $2857943.01   | 0.02%             | 2033-01-29      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2025-H1 Mortgage Trust                                                     | CUSIP: 22758NAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2979333 | PA      | $2991584.02   | 0.02%             | 2070-02-25      | Variable      | 6.48%                 | No            |                  2 | On Loan: No      |
| Great Wolf Trust                                                 | Great Wolf Trust 2024-WOLF                                                       | CUSIP: 39152MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1370000 | PA      | $1371712.50   | 0.01%             | 2039-03-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                        | CIM Trust 2023-I2                                                                | CUSIP: 12570HAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       564525 | PA      | $564420.73    | 0.00%             | 2067-12-25      | Variable      | 6.64%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2024-1                                                    | CUSIP: 52603DAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6407000 | PA      | $6453917.82   | 0.04%             | 2032-06-21      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED INR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | IN        |            1 | NC      | $-50581.62    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED ARS / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | AR        |            1 | NC      | $-230659.63   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | Deutsche Bank AG                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |      7200000 | PA      | $8339359.40   | 0.05%             | 2027-10-30      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                         | Builders FirstSource Inc                                                         | CUSIP: 12008RAR8<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |      1951000 | PA      | $1964596.52   | 0.01%             | 2032-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                                         | Virgin Media Secured Finance PLC                                                 | CUSIP: 000000000<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |      1500000 | PA      | $1844914.66   | 0.01%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bonds          | Republic of South Africa Government International Bonds                          | CUSIP: 836205AV6<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |       765000 | PA      | $569925.00    | 0.00%             | 2046-10-12      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AVANTOR FUNDING INC                                              | Avantor Funding Inc                                                              | CUSIP: 05352TAB5<br>LEI: 5493003VM0XB4U8YD238 | Long             | DBT              | CORP              | US        |       572000 | PA      | $543748.81    | 0.00%             | 2029-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| Republic of Kenya Government International Bonds                 | Republic of Kenya Government International Bonds                                 | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |      3393000 | PA      | $3582159.75   | 0.02%             | 2031-02-16      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                                       | Affirm Asset Securitization Trust 2024-B                                         | CUSIP: 00835AAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4287000 | PA      | $4294568.27   | 0.03%             | 2029-09-15      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                                           | Rockford Tower CLO 2025-3 Ltd                                                    | CUSIP: 77340WAA4<br>LEI: 5493007GXSFXDXOXG741 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $1999241.40   | 0.01%             | 2038-03-31      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                               | Regional Management Issuance Trust 2024-2                                        | CUSIP: 75907AAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1033000 | PA      | $1038067.48   | 0.01%             | 2033-12-15      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| INV 2024-IND Mortgage Trust                                      | INV 2024-IND Mortgage Trust                                                      | CUSIP: 45000DAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7342000 | PA      | $7277757.50   | 0.04%             | 2041-11-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| XPO INC                                                          | XPO Inc                                                                          | CUSIP: 983793AK6<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |       423000 | PA      | $441113.71    | 0.00%             | 2032-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Albion Financing 3 SARL                                          | Albion Financing 3 SARL 2025 EUR Term Loan                                       | CUSIP: 01330EAC2<br>LEI: 259400QTZA08U7DIP580 | Long             | LON              | CORP              | LU        |      1500000 | PA      | $1768255.83   | 0.01%             | 2031-05-21      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| BELRON FINANCE US LLC                                            | Belron Finance US LLC 2026 EUR Term Loan B                                       | CUSIP: 08078UAP8<br>LEI: 9845006BC9D1A77B8178 | Long             | LON              | CORP              | GB        |      3377200 | PA      | $3972131.93   | 0.02%             | 2031-10-16      | Floating      | 4.27%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | USD C BRL P @5.650000 EO                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |     35595340 | OU      | $35.60        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| The BAHA Trust                                                   | BAHA Trust 2024-MAR                                                              | CUSIP: 05493XAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2160000 | PA      | $2232271.22   | 0.01%             | 2041-12-10      | Variable      | 7.07%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                      | RAD CLO 24 Ltd                                                                   | CUSIP: 75010CAE3<br>LEI: 254900F50S9DCHTOVI65 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002797.10   | 0.01%             | 2037-07-20      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                         | Olympus Water US Holding Corp                                                    | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |       350000 | PA      | $352075.15    | 0.00%             | 2031-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | Deutsche Bank AG                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |      5800000 | PA      | $6786719.45   | 0.04%             | 2026-11-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | CSMC Trust 2015-3                                                                | CUSIP: 12649XAH2<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |       118673 | PA      | $111043.46    | 0.00%             | 2045-03-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Ukraine Government International Bonds                           | Ukraine Government International Bonds                                           | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |        54068 | PA      | $27520.61     | 0.00%             | 2035-02-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2026-1 DAC                                             | CUSIP: 000000000<br>LEI: 635400NBXJLIIDPDLP80 | Long             | ABS-O            | CORP              | IE        |      1800000 | PA      | $2115865.04   | 0.01%             | 2037-10-18      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| National RMBS Trust                                              | National RMBS Trust 2026-1                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      7650000 | PA      | $5505581.05   | 0.03%             | 2057-10-20      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | Santander Consumo 10 FT                                                          | CUSIP: 000000000<br>LEI: 9845003Q6DEF3R087B56 | Long             | ABS-O            | CORP              | ES        |      1600000 | PA      | $1879704.19   | 0.01%             | 2041-05-22      | Floating      | 3.74%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2024-NQM2                                        | CUSIP: 10569KAE7<br>LEI: 2549000KHGUZMZ31N203 | Long             | ABS-MBS          | CORP              | US        |      1300000 | PA      | $1320814.82   | 0.01%             | 2064-02-25      | Fixed         | 7.91%                 | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2025-1 DAC                                             | CUSIP: 000000000<br>LEI: 635400DRZLOPFVGZUR29 | Long             | ABS-O            | CORP              | IE        |      3300000 | PA      | $3879155.63   | 0.02%             | 2035-04-18      | Floating      | 2.70%                 | No            |                  2 | On Loan: No      |
| FS Trust                                                         | FS Trust 2026-HULA                                                               | CUSIP: 30345AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6000000 | PA      | $6000000.00   | 0.04%             | 2041-03-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                              | COMM 2024-WCL1 MORTGAGE TRUST                                                    | CUSIP: 20047DAC8<br>LEI: 5493004GWEVMOU8S3L34 | Long             | ABS-MBS          | CORP              | US        |      3566000 | PA      | $3561542.50   | 0.02%             | 2041-06-15      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| BRIGHTSTAR LOT/BRIGHSTAR                                         | Brightstar Lottery PLC/ Brightstar Global Solutions Corp                         | CUSIP: 108922AA3<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |       268000 | PA      | $262771.16    | 0.00%             | 2033-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| Velocity Commercial Capital Loan Trust                           | VCC 2025-MC1 Trust                                                               | CUSIP: 91825JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       961094 | PA      | $956830.67    | 0.01%             | 2055-05-25      | Variable      | 8.16%                 | No            |                  2 | On Loan: No      |
| BDS Ltd                                                          | BDS 2025-FL14 LLC                                                                | CUSIP: 072921AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      7895000 | PA      | $7879511.59   | 0.05%             | 2042-10-17      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                               | Angolan Government International Bond                                            | CUSIP: 035198AL4<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |       536000 | PA      | $569500.00    | 0.00%             | 2037-03-31      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| Merit                                                            | MHP 2021-STOR                                                                    | CUSIP: 55293BAK1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       350000 | PA      | $349781.25    | 0.00%             | 2038-07-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Merck Financial Services GmbH                                    | Merck Financial Services GmbH                                                    | CUSIP: 000000000<br>LEI: 549300OELEN3ZS5RB682 | Long             | DBT              | CORP              | DE        |      4400000 | PA      | $4555881.03   | 0.03%             | 2031-07-05      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2024-4                                                  | CUSIP: 034943AA8<br>LEI: 25490046TFINGL6XED11 | Long             | ABS-MBS          | CORP              | US        |      1407622 | PA      | $1418512.09   | 0.01%             | 2069-01-25      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| ICE Futures Europe - Financial Products Division                 | LONG GILT FUTURE JUN26                                                           | CUSIP: 000000000<br>LEI: 549300UF4R84F48NCH34 | N/A              | DIR              |  | GB        |           53 | NC      | $-138315.16   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.305300 17-SEP-2026 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     12858092 | OU      | $-82891.50    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ALPHA STAR HOLDING X                                             | Alpha Star Holding X Ltd                                                         | CUSIP: 000000000<br>LEI: 254900VZ1ZLI7YNEMZ61 | Long             | DBT              | CORP              | AE        |      4957000 | PA      | $4777308.75   | 0.03%             | 2029-08-05      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                        | IQVIA Inc                                                                        | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |      2529000 | PA      | $2526967.19   | 0.01%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF INDONESIA                                            | Indonesia Government International Bond                                          | CUSIP: 000000000<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |       589000 | PA      | $681345.98    | 0.00%             | 2033-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2017-III Ltd                                                        | CUSIP: 12548JAU6<br>LEI: 254900S2BZHNDNVF2L25 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $2991387.90   | 0.02%             | 2037-04-20      | Floating      | 7.38%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                         | Celanese US Holdings LLC                                                         | CUSIP: 15089QAN4<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |      4646000 | PA      | $4874034.97   | 0.03%             | 2029-07-15      | Fixed         | 7.33%                 | No            |                  2 | On Loan: No      |
| MARCOBRE SAC                                                     | Marcobre SAC                                                                     | CUSIP: 56625AAA2<br>LEI: 254900BORIUZFCM1XB72 | Long             | DBT              | CORP              | PE        |       588000 | PA      | $580062.00    | 0.00%             | 2036-01-22      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BSPDF Issuer Ltd                                                 | BSPDF 2026-FL3 Issuer LLC                                                        | CUSIP: 05594VAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10000000 | PA      | $9988708.00   | 0.06%             | 2043-09-18      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                                        | PG&E Corp                                                                        | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |      8083000 | PA      | $8313826.23   | 0.05%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ION PLATFORM FINANCE US                                          | ION Platform Finance US Inc                                                      | CUSIP: 46205QAB4<br>LEI: 213800FKHT3BRRKMCC89 | Long             | DBT              | CORP              | US        |      9958000 | PA      | $7738624.69   | 0.05%             | 2032-09-30      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                                   | Upgrade Master Pass-Thru Trust Series 2025-ST5                                   | CUSIP: 91535BAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       517000 | PA      | $515959.64    | 0.00%             | 2032-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                                              | SG Residential Mortgage Trust 2022-1                                             | CUSIP: 78433QAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2363804 | PA      | $2178062.22   | 0.01%             | 2062-03-27      | Variable      | 3.68%                 | No            |                  2 | On Loan: No      |
| TELEFONICA EUROPE BV                                             | Telefonica Europe BV                                                             | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |      2500000 | PA      | $2905527.04   | 0.02%             | 2027-02-05      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.777500 04-JAN-2027 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      2478697 | OU      | $-2353.34     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| E-CARAT                                                          | ECARAT DE SA Compartment 2025-2                                                  | CUSIP: 000000000<br>LEI: 213800ETWMJRFLJ8U337 | Long             | ABS-O            | CORP              | LU        |       200000 | PA      | $234747.07    | 0.00%             | 2037-02-25      | Floating      | 2.74%                 | No            |                  2 | On Loan: No      |
| UNITED GROUP BV                                                  | United Group BV                                                                  | CUSIP: 000000000<br>LEI: 213800PC85O8BJ7DU398 | Long             | DBT              | CORP              | NL        |      6636000 | PA      | $7734258.88   | 0.05%             | 2030-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2025-SPOT                                           | CUSIP: 12433FAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5539583 | PA      | $5543028.89   | 0.03%             | 2040-04-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-ROIC                                                               | CUSIP: 05593VAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4196867 | PA      | $4196867.34   | 0.02%             | 2030-03-15      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| CFCRE Commercial Mortgage Trust                                  | CFCRE Commercial Mortgage Trust 2016-C4                                          | CUSIP: 12531YAU2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       235898 | PA      | $234957.07    | 0.00%             | 2058-05-10      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| Flatiron CLO Ltd                                                 | Flatiron CLO 20 Ltd                                                              | CUSIP: 33883MAU8<br>LEI: 25490077CXFU133A8B24 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $4008257.20   | 0.02%             | 2038-11-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                            | Palmer Square CLO 2023-1 Ltd                                                     | CUSIP: 69702TAS1<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |       830000 | PA      | $830508.04    | 0.00%             | 2038-01-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Jubilee Place                                                    | Jubilee Place 8 BV                                                               | CUSIP: 000000000<br>LEI: 724500WEF7MLCPB49563 | Long             | ABS-MBS          | CORP              | NL        |       100000 | PA      | $116452.81    | 0.00%             | 2062-03-17      | Floating      | 3.41%                 | No            |                  2 | On Loan: No      |
| VERSANT MEDIA GROUP INC                                          | Versant Media Group Inc                                                          | CUSIP: 925283AA1<br>LEI: 254900D2Q5F5F229PU30 | Long             | DBT              | CORP              | US        |      3000000 | PA      | $3114793.47   | 0.02%             | 2031-01-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Madison Park Funding Ltd                                         | Madison Park Funding LXXI Ltd                                                    | CUSIP: 55817DAA6<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |     11515000 | PA      | $11502378.41  | 0.07%             | 2038-04-23      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-A                                                 | CUSIP: 64035DAD8<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |       705062 | PA      | $669461.85    | 0.00%             | 2062-04-20      | Fixed         | 1.36%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                                  | Fair Isaac Corp                                                                  | CUSIP: 303250AF1<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |      1516000 | PA      | $1478001.91   | 0.01%             | 2028-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Sycamore Tree CLO Ltd                                            | Sycamore Tree CLO 2023-3 Ltd                                                     | CUSIP: 87122FAN6<br>LEI: 5493000NGQSA68NFD567 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001884.40   | 0.01%             | 2037-04-20      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 17-R Ltd                                                      | CUSIP: 676920AC5<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      8000000 | PA      | $7993285.60   | 0.05%             | 2039-04-20      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                         | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |      3000000 | PA      | $3576454.64   | 0.02%             | 2029-09-17      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                         | Foundation Finance Trust 2025-1                                                  | CUSIP: 35040WAA5<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |      2718000 | PA      | $2716619.80   | 0.02%             | 2050-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                                           | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAT4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       500000 | PA      | $491019.60    | 0.00%             | 2029-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                  | CVS Health Corp                                                                  | CUSIP: 126650EH9<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |      5084000 | PA      | $5274737.95   | 0.03%             | 2055-03-10      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Egypt Government International Bonds                             | Egypt Government International Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     16845000 | PA      | $14496554.33  | 0.09%             | 2048-02-21      | Fixed         | 7.90%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                                              | Prestige Brands Inc                                                              | CUSIP: 74112BAL9<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |       702000 | PA      | $700958.51    | 0.00%             | 2028-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| OEG FINANCE PLC                                                  | OEG Finance PLC                                                                  | CUSIP: 000000000<br>LEI: 254900KMBHWF9UK63G44 | Long             | DBT              | CORP              | GB        |     21292000 | PA      | $26031783.83  | 0.15%             | 2029-09-27      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital Clo 18 Ltd                                                     | CUSIP: 03331AAJ0<br>LEI: 549300JIJ617WYIUFX18 | Long             | ABS-CBDO         | CORP              | KY        |      1250000 | PA      | $1251752.13   | 0.01%             | 2034-04-15      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trust                                  | Durst Commercial Mortgage Trust 2025-151                                         | CUSIP: 266895AG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2095000 | PA      | $2165150.03   | 0.01%             | 2042-08-10      | Variable      | 7.02%                 | No            |                  2 | On Loan: No      |
| ROSSINI SARL                                                     | Rossini Sarl                                                                     | CUSIP: 000000000<br>LEI: 549300EC5JCCW6F83R11 | Long             | DBT              | CORP              | LU        |      1868000 | PA      | $2273490.89   | 0.01%             | 2029-12-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                                         | Focus Financial Partners LLC                                                     | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |      3018000 | PA      | $3070346.36   | 0.02%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-INV2                                             | CUSIP: 92540NAA1<br>LEI: 2138002Y4WGHSN8NFF24 | Long             | ABS-MBS          | CORP              | US        |      1467154 | PA      | $1470914.84   | 0.01%             | 2069-08-26      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| Thunder Logistics                                                | Thunder Logistics 2024-1 DAC                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |        62708 | PA      | $73632.57     | 0.00%             | 2036-11-17      | Floating      | 4.05%                 | No            |                  2 | On Loan: No      |
| Pierpont BTL                                                     | Pierpont Btl 2026-1 PLC                                                          | CUSIP: 000000000<br>LEI: 213800UHT3RX1VL8CX54 | Long             | ABS-MBS          | CORP              | GB        |       106000 | PA      | $144003.07    | 0.00%             | 2062-12-21      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                           | Cloud Software Group Inc                                                         | CUSIP: 18912UAC6<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |      9667000 | PA      | $9184015.22   | 0.05%             | 2032-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-1                                    | CUSIP: 922955AN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       311879 | PA      | $313900.28    | 0.00%             | 2055-02-25      | Fixed         | 10.15%                | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                            | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8485000 | PA      | $8828557.65   | 0.05%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: —       |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.392500 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     28818953 | OU      | $-78504.97    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                         | Republic of South Africa Government International Bond                           | CUSIP: 836205BF0<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |       741000 | PA      | $775086.00    | 0.00%             | 2036-11-19      | Fixed         | 7.10%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                         | Republic of South Africa Government International Bond                           | CUSIP: 836205BG8<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |       945000 | PA      | $965128.50    | 0.01%             | 2054-11-19      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                                      | McAfee Corp                                                                      | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |       540000 | PA      | $437537.38    | 0.00%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| SCOTTS MIRACLE-GRO CO                                            | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |      1215000 | PA      | $1130486.67   | 0.01%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 3.876800 01-APR-2031 SOF                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     20000000 | OU      | $133815.17    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                            | Caesars Entertainment Inc                                                        | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |       268000 | PA      | $258668.83    | 0.00%             | 2029-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| SELF Commercial Mortgage Trust                                   | SELF Commercial Mortgage Trust 2024-STRG                                         | CUSIP: 81631WAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2865800 | PA      | $2855965.72   | 0.02%             | 2034-11-15      | Floating      | 7.84%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                                           | SLM Private Credit Student Loan Trust 2004-A                                     | CUSIP: 78443CBH6<br>LEI: 54930054KUX5HFXZUQ43 | Long             | ABS-O            | CORP              | US        |       120401 | PA      | $120225.29    | 0.00%             | 2033-06-15      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                            | Mineral Resources Ltd                                                            | CUSIP: 603051AF0<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |       800000 | PA      | $830374.29    | 0.00%             | 2031-04-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| HalseyPoint CLO II, Ltd.                                         | Halseypoint CLO II Ltd                                                           | CUSIP: 40638TAN2<br>LEI: 549300PIQILNPH8UJT31 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $4008830.80   | 0.02%             | 2037-07-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2026-1 PLC                                              | CUSIP: 000000000<br>LEI: 2138006RXLKWX319BI66 | Long             | ABS-MBS          | CORP              | GB        |      6497000 | PA      | $8854865.46   | 0.05%             | 2068-04-17      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| Golden Bar Securitisation                                        | Golden Bar Securitisation Srl 2025-2                                             | CUSIP: 000000000<br>LEI: 549300GESLGUWWGJRM09 | Long             | ABS-O            | CORP              | IT        |       193112 | PA      | $227481.32    | 0.00%             | 2044-12-22      | Floating      | 3.72%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Corp Trust 2025-800D                                      | CUSIP: 36273XAA9<br>LEI: 5493001UQE7OCP3UT106 | Long             | ABS-MBS          | CORP              | US        |      6874000 | PA      | $6874111.36   | 0.04%             | 2041-11-25      | Floating      | 6.31%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                         | Brazil Notas do Tesouro Nacional Serie F                                         | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |      5468000 | PA      | $1020688.09   | 0.01%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                             | Republic of Uzbekistan International Bond                                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |      6700000 | PA      | $7091079.00   | 0.04%             | 2028-10-12      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: MXN 7.162500 10-APR-2028 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    743880000 | OU      | $-51509.40    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | AOMT 2024-6                                                                      | CUSIP: 034944AA6<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |       818509 | PA      | $814927.13    | 0.00%             | 2067-11-25      | Variable      | 4.65%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2020-2                                          | CUSIP: 682696AB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       392000 | PA      | $380240.20    | 0.00%             | 2035-09-14      | Fixed         | 2.21%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2022-INV3 Trust                                                              | CUSIP: 55284PAF2<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      2702914 | PA      | $2429985.64   | 0.01%             | 2066-12-25      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: OIS 1.380000 30-MAR-2028 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5164549526 | OU      | $-39714.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KAISER ALUMINUM CORP                                             | Kaiser Aluminum Corp                                                             | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       978000 | PA      | $938163.52    | 0.01%             | 2031-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.6245 18-NOV-2026 TII                                                 | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     24900496 | OU      | $8689.96      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HUMANA INC                                                       | Humana Inc                                                                       | CUSIP: 444859CE0<br>LEI: 529900YLDW34GJAO4J06 | Long             | DBT              | CORP              | US        |      3170000 | PA      | $3123568.63   | 0.02%             | 2056-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | APIDOS CLO XLVIII Ltd                                                            | CUSIP: 03770WAA9<br>LEI: 25490046M6DC4604K633 | Long             | ABS-CBDO         | CORP              | JE        |       489000 | PA      | $489690.96    | 0.00%             | 2037-07-25      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| EG FINCO LIMITED                                                 | EG Finco Limited 2026 EUR Term Loan B                                            | CUSIP: 28228QAC3<br>LEI: 2138003OUK4UQHRJLT65 | Long             | LON              | CORP              | GB        |      4000000 | PA      | $4688261.04   | 0.03%             | 2031-02-10      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| La Trobe Financial Capital Markets                               | La Trobe Financial Capital Markets Trust 2025-1                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      1185171 | PA      | $851207.39    | 0.01%             | 2057-05-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| ITT HOLDINGS LLC                                                 | ITT Holdings LLC                                                                 | CUSIP: 45074JAA2<br>LEI: 549300TH2PHOLK31LB42 | Long             | DBT              | CORP              | US        |      5225000 | PA      | $5150751.18   | 0.03%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                                      | Chemours Co/The                                                                  | CUSIP: 163851AJ7<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |      3542000 | PA      | $3650703.98   | 0.02%             | 2033-01-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| Towd Point Mortgage Trust                                        | Towd Point Mortgage Trust 2026-FIX1                                              | CUSIP: 89183TAB4<br>LEI: 254900HMDJT9KG22DU68 | Long             | ABS-O            | CORP              | US        |      2694000 | PA      | $2671864.48   | 0.02%             | 2065-12-25      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO                                         | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAF1<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |       548000 | PA      | $541685.52    | 0.00%             | 2027-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ADLER FINANCING SARL                                             | Adler Financing Sarl                                                             | CUSIP: 000000000<br>LEI: 213800BAQB59IVKP7S93 | Long             | DBT              | CORP              | LU        |     19632656 | PA      | $26004502.67  | 0.15%             | 2028-12-31      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Jordan Government International Bonds                            | Jordan Government International Bonds                                            | CUSIP: 000000000<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |       677000 | PA      | $674786.21    | 0.00%             | 2030-07-07      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD CZK                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-67633.48    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.730000 23-MAR-2028 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    607493000 | OU      | $325675.51    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PENN ENTERTAINMENT INC                                           | Penn Entertainment Inc                                                           | CUSIP: 707569AY5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2442000 | PA      | $2421842.54   | 0.01%             | 2031-04-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GS FINANCE CORP                                                  | GS Finance Corp                                                                  | CUSIP: 40058XL51<br>LEI: 549300FR80KBVO6DRL61 | Long             | SN               | CORP              | US        |     27072000 | PA      | $26342788.61  | 0.16%             | 2031-02-17      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2015-10 Ltd                                                              | CUSIP: 67092DBD0<br>LEI: 254900FZYL5HDKV64882 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004920.60   | 0.01%             | 2038-01-26      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-8.46        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2021-LBA                                                                | CUSIP: 05609BAV1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       521399 | PA      | $521235.97    | 0.00%             | 2036-02-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | FSWP: OIS 9.310000 17-DEC-2027 IBR                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |  29600450579 | OU      | $-364141.26   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| QXO BUILDING PRODUCTS                                            | QXO Building Products Inc                                                        | CUSIP: 74825NAA5<br>LEI: 549300HDXQWWCBOYXP31 | Long             | DBT              | CORP              | US        |      4335000 | PA      | $4421875.39   | 0.03%             | 2032-04-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CZK 4.149000 17-JUN-2028 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1301220000 | OU      | $112578.11    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 85 CLO Ltd                                                                | CUSIP: 26246BBG8<br>LEI: 549300XS2BVK8BZTXN05 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2504108.53   | 0.01%             | 2037-07-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2025-3 PLC                                                               | CUSIP: 000000000<br>LEI: 2138004HHDTEKA2ZLF42 | Long             | ABS-MBS          | CORP              | GB        |       225000 | PA      | $307785.26    | 0.00%             | 2069-10-27      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| AFG                                                              | AFG 2026-1 Trust                                                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      1420000 | PA      | $1014927.59   | 0.01%             | 2057-10-10      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2020-1                                    | CUSIP: 92259LAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1002103 | PA      | $940716.76    | 0.01%             | 2050-02-25      | Variable      | 2.61%                 | No            |                  2 | On Loan: No      |
| Vasco Finance                                                    | TAGUS-Sociedade de Titularizacao de Creditos SA/Vasco Finance No. 3              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |       100000 | PA      | $117193.38    | 0.00%             | 2043-10-27      | Floating      | 3.35%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                 | Paramount Global                                                                 | CUSIP: 92556HAE7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |      5731000 | PA      | $4444629.54   | 0.03%             | 2062-03-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Golden Bar Securitisation                                        | Golden Bar Securitisation Srl 2025-1                                             | CUSIP: 000000000<br>LEI: 549300GESLGUWWGJRM09 | Long             | ABS-O            | CORP              | IT        |       435019 | PA      | $510923.06    | 0.00%             | 2044-12-20      | Floating      | 3.12%                 | No            |                  2 | On Loan: No      |
| SC GERMANY CONSUMER                                              | SC Germany SA Compartment Consumer 2024-2                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       663891 | PA      | $781327.23    | 0.00%             | 2038-05-14      | Floating      | 2.70%                 | No            |                  2 | On Loan: No      |
| Citicorp Homeowners Mortgage Acceptance Corp. 1                  | MAC Trust 2025-801B                                                              | CUSIP: 553918AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10700000 | PA      | $10688663.35  | 0.06%             | 2040-10-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO XVI, LTD.                                       | Sixth Street CLO XIII Ltd                                                        | CUSIP: 83012XAC3<br>LEI: 2549009LM706L5P4IH84 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001032.20   | 0.01%             | 2038-01-21      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                             | Saudi Arabian Oil Co                                                             | CUSIP: 80414L2X2<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |      2840000 | PA      | $2833808.80   | 0.02%             | 2030-06-02      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| HSBC Bank PLC                                                    | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | XX        |            1 | NC      | $-5603.81     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2021-C                                 | CUSIP: 63942JAA5<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |      3050370 | PA      | $2778342.23   | 0.02%             | 2069-10-15      | Fixed         | 1.06%                 | No            |                  2 | On Loan: No      |
| PFP III                                                          | PFP 2026-13 Ltd                                                                  | CUSIP: 716966AA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5007900.50   | 0.03%             | 2043-08-18      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                                          | Light & Wonder International Inc                                                 | CUSIP: 531968AB1<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |      1243000 | PA      | $1232698.64   | 0.01%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| RENEW POWER PVT LTD                                              | ReNew Pvt Ltd                                                                    | CUSIP: 000000000<br>LEI: 335800BITJZHVZ1CN475 | Long             | DBT              | CORP              | IN        |      3500000 | PA      | $3484950.00   | 0.02%             | 2027-03-05      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | 2Y RTP 3.800000 14-SEP-2026                                                      | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              |  | KY        |   -571844000 | OU      | $-2045846.25  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| AVIANCA MIDCO 2 PLC                                              | Avianca Midco 2 PLC                                                              | CUSIP: 05369YAD1<br>LEI: 213800AMPX5VKH9AMX10 | Long             | DBT              | CORP              | GB        |       425000 | PA      | $397375.00    | 0.00%             | 2031-01-28      | Fixed         | 9.50%                 | No            |                  2 | On Loan: —       |
| Sixth Street CLO XVI, LTD.                                       | Sixth Street CLO XVII Ltd                                                        | CUSIP: 83012FAL2<br>LEI: 2549009LM706L5P4IH84 | Long             | ABS-CBDO         | CORP              | KY        |      1750000 | PA      | $1748335.75   | 0.01%             | 2038-04-17      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| MARS INC                                                         | Mars Inc                                                                         | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |      9985000 | PA      | $10086140.46  | 0.06%             | 2030-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2021-1                                    | CUSIP: 92259TAQ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1407374 | PA      | $1047320.94   | 0.01%             | 2051-05-25      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2015-9 Ltd                                                               | CUSIP: 67091YBN3<br>LEI: 254900XV0U0WEM36A370 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $246204.50    | 0.00%             | 2037-01-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2019-V Ltd                                                          | CUSIP: 12554XBG6<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      3440000 | PA      | $3447709.38   | 0.02%             | 2038-10-15      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                         | Foundation Finance Trust 2024-2                                                  | CUSIP: 35040VAA7<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |      2611733 | PA      | $2595953.63   | 0.02%             | 2050-03-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.030000 17-SEP-2027 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     17951140 | OU      | $-81397.97    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance Issuance Trust 2021-B                                            | CUSIP: 56847JAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1177000 | PA      | $1119849.47   | 0.01%             | 2036-11-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| SISECAM UK PLC                                                   | Sisecam UK PLC                                                                   | CUSIP: 000000000<br>LEI: 789000T82YRLMLUOC889 | Long             | DBT              | CORP              | GB        |      3407000 | PA      | $3501442.04   | 0.02%             | 2029-05-02      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MAISON FINCO PLC                                                 | Maison Finco PLC                                                                 | CUSIP: 000000000<br>LEI: 9845007743J958DAS530 | Long             | DBT              | CORP              | GB        |      4055000 | PA      | $5222626.78   | 0.03%             | 2032-04-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Resimac                                                          | RESIMAC Premier Series 2025-1                                                    | CUSIP: 000000000<br>LEI: 213800R628L75GZ2RD25 | Long             | ABS-MBS          | CORP              | AU        |      1128646 | PA      | $813300.29    | 0.00%             | 2056-09-12      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| OCADO GROUP PLC                                                  | Ocado Group PLC                                                                  | CUSIP: 000000000<br>LEI: 213800LO8F61YB8MBC74 | Long             | DBT              | CORP              | GB        |      6900000 | PA      | $9032952.72   | 0.05%             | 2027-01-18      | Fixed         | 0.75%                 | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                           | US 5YR NOTE (CBT) JUN26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -6909 | NC      | $1539508.34   | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD TRY                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-288.12      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman Loan Advisers Clo 58 Ltd                                        | CUSIP: 640970AA7<br>LEI: 254900FFU2A0PJWUZ830 | Long             | ABS-CBDO         | CORP              | KY        |      1125000 | PA      | $1127131.54   | 0.01%             | 2038-10-18      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                                              | Station Casinos LLC                                                              | CUSIP: 857691AJ8<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |      3001000 | PA      | $3038410.47   | 0.02%             | 2032-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| FHLMC Multifamily Structured Pass Through Certs.                 | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137FF3Z8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     64955796 | PA      | $495287.94    | 0.00%             | 2027-12-25      | Variable      | 0.62%                 | No            |                  2 | On Loan: No      |
| Nigeria Government International Bonds                           | Nigeria Government International Bonds                                           | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |      8600000 | PA      | $8658050.00   | 0.05%             | 2028-09-28      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Bletchley Park Funding                                           | Bletchley Park Funding 2025-1 PLC                                                | CUSIP: 000000000<br>LEI: 635400OJVL3HJJTKNB05 | Long             | ABS-MBS          | CORP              | GB        |       180000 | PA      | $245387.10    | 0.00%             | 2070-01-27      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                                           | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3017000 | PA      | $3113675.99   | 0.02%             | 2033-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                              | Affirm Master Trust                                                              | CUSIP: 00833BAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1009000 | PA      | $1014996.79   | 0.01%             | 2033-02-15      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| DENTSPLY SIRONA INC                                              | DENTSPLY SIRONA Inc                                                              | CUSIP: 24906PAB5<br>LEI: 9NHEHR1SOZCYXDO8HO28 | Long             | DBT              | CORP              | US        |      3390000 | PA      | $3408173.79   | 0.02%             | 2055-09-12      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                    | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      8882000 | PA      | $9127969.23   | 0.05%             | 2032-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                                           | Republic of Poland Government Bond                                               | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     90752000 | PA      | $23686014.12  | 0.14%             | 2035-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                                | Elevation CLO 2013-1 Ltd                                                         | CUSIP: 28623FAJ3<br>LEI: 549300D7IKXB86IQMC13 | Long             | ABS-CBDO         | CORP              | KY        |      3500000 | PA      | $3505140.10   | 0.02%             | 2038-07-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Four Srl                 | CUSIP: 000000000<br>LEI: 8156003524A4F7B21C64 | Long             | ABS-O            | CORP              | IT        |      3352000 | PA      | $3958704.98   | 0.02%             | 2040-08-16      | Floating      | 3.15%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                | Newell Brands Inc                                                                | CUSIP: 651229BG0<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |       529000 | PA      | $552786.49    | 0.00%             | 2028-06-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FREEPORT INDONESIA PT                                            | Freeport Indonesia PT                                                            | CUSIP: 000000000<br>LEI: 549300T4HTQHRKLNE619 | Long             | DBT              | CORP              | ID        |       882000 | PA      | $866018.16    | 0.01%             | 2052-04-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| NSW ELECTRICITY NETWORKS                                         | NSW Electricity Networks Finance Pty Ltd                                         | CUSIP: 000000000<br>LEI: 5493009VPYKFFK7UXM97 | Long             | DBT              | CORP              | AU        |       600000 | PA      | $420285.32    | 0.00%             | 2055-03-11      | Fixed         | 6.28%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD IDR                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $1393757.17   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UK Logisitics                                                    | UK Logistics 2025-2 DAC                                                          | CUSIP: 000000000<br>LEI: 635400CRV6HKMHJF8S64 | Long             | ABS-MBS          | CORP              | IE        |       473988 | PA      | $646409.14    | 0.00%             | 2035-08-17      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                                         | Discovery Communications LLC                                                     | CUSIP: 25470DBY4<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |      7666000 | PA      | $5826160.00   | 0.03%             | 2037-09-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HJ6Z5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     11089686 | PA      | $11254854.92  | 0.07%             | 2055-02-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-7                                                | CUSIP: 924931AJ7<br>LEI: 213800OVCAXDOBS94P47 | Long             | ABS-MBS          | CORP              | US        |      1850000 | PA      | $1851322.57   | 0.01%             | 2070-08-25      | Variable      | 6.62%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                                         | Uruguay Government International Bond                                            | CUSIP: 760942BJ0<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    217460091 | PA      | $5519118.77   | 0.03%             | 2035-10-29      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2020-2                                          | CUSIP: 682696AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       270188 | PA      | $266711.79    | 0.00%             | 2035-09-14      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2021-5                                                  | CUSIP: 03465HAB0<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      2713667 | PA      | $2369311.94   | 0.01%             | 2066-07-25      | Variable      | 1.21%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 20 Ltd                                                                        | CUSIP: 74989UAQ6<br>LEI: 2549005CH9FMTJFP8I04 | Long             | ABS-CBDO         | CORP              | BM        |       750000 | PA      | $745605.75    | 0.00%             | 2037-07-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| AVIANCA MIDCO 2 PLC                                              | Avianca Midco 2 PLC                                                              | CUSIP: 000000000<br>LEI: 213800AMPX5VKH9AMX10 | Long             | DBT              | CORP              | GB        |       445427 | PA      | $433734.54    | 0.00%             | 2028-12-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2018-5                                       | CUSIP: 64829XAA0<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       121173 | PA      | $120003.60    | 0.00%             | 2057-12-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Warwick Capital CLO Ltd                                          | Warwick Capital CLO 5 Ltd                                                        | CUSIP: 93656FAA6<br>LEI: 254900WYTOTUQQSCN403 | Long             | ABS-CBDO         | CORP              | KY        |       500000 | PA      | $501262.75    | 0.00%             | 2038-01-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                      | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |            1 | NC      | $384840.54    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Winchester PLC                                                   | Winchester 1 PLC                                                                 | CUSIP: 000000000<br>LEI: 213800AWJGG72JJNBW66 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $137360.74    | 0.00%             | 2056-10-21      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SURINAME INT                                         | Suriname Government International Bond                                           | CUSIP: 86886PAF9<br>LEI: 254900SYU4G5JM13TN77 | Long             | DBT              | NUSS              | SR        |       657000 | PA      | $718634.81    | 0.00%             | 2035-11-06      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2014-III Ltd                                                        | CUSIP: 12549QBL8<br>LEI: 549300KEIUMRD7WX5J42 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $999816.50    | 0.01%             | 2038-03-31      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Exmoor Funding PLC                                               | Exmoor Funding 2025-1 PLC                                                        | CUSIP: 000000000<br>LEI: 635400YFBIYXOQAEON61 | Long             | ABS-MBS          | CORP              | GB        |        99998 | PA      | $135965.19    | 0.00%             | 2095-03-25      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| Pierpont BTL                                                     | Pierpont BTL 2025-1 PLC                                                          | CUSIP: 000000000<br>LEI: 635400SRTLDO3B8L9Y97 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $135263.56    | 0.00%             | 2062-03-21      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | MX        |            1 | NC      | $802523.07    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SEVERN TRENT WATER UTIL                                          | Severn Trent Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800KY9PT6WBH33232 | Long             | DBT              | CORP              | GB        |      3450000 | PA      | $3974356.81   | 0.02%             | 2040-01-29      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                                                      | Avient Corp                                                                      | CUSIP: 05368VAA4<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |      2755000 | PA      | $2805912.40   | 0.02%             | 2030-08-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                         | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      6482000 | PA      | $6209455.88   | 0.04%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD INR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-2885.75     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $272881.57    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2021-2                                                  | CUSIP: 03465DAC7<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      2295617 | PA      | $2011870.19   | 0.01%             | 2066-04-25      | Variable      | 1.45%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                          | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAD5<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |      1474000 | PA      | $1517743.90   | 0.01%             | 2032-04-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                      | BBCMS 2018-TALL Mortgage Trust                                                   | CUSIP: 05548WAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4000000 | PA      | $3780000.00   | 0.02%             | 2037-03-15      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| Pierpont BTL                                                     | Pierpont BTL 2025-1 PLC                                                          | CUSIP: 000000000<br>LEI: 635400SRTLDO3B8L9Y97 | Long             | ABS-MBS          | CORP              | GB        |       549431 | PA      | $748678.96    | 0.00%             | 2062-03-21      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | FSWP: OIS 9.540000 17-DEC-2029 IBR                                               | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |  32103721832 | OU      | $641292.49    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: BRL 13.360000 03-JAN-2028 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    216190000 | OU      | $-301988.39   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U3A9<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     13295000 | PA      | $13350092.35  | 0.08%             | 2028-07-25      | Fixed         | 4.81%                 | No            |                  2 | On Loan: —       |
| ILIAD HOLDING SAS                                                | Iliad Holding SAS                                                                | CUSIP: 449691AF1<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |       816000 | PA      | $865699.86    | 0.01%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Resimac                                                          | RESIMAC Premier Series 2025-2                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |     10905000 | PA      | $7817689.72   | 0.05%             | 2057-04-08      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $70.16        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                           | Sequoia Mortgage Trust 2025-12                                                   | CUSIP: 81749XAE3<br>LEI: 54930005PH54PMVV8351 | Long             | ABS-MBS          | CORP              | US        |     16075863 | PA      | $15931895.80  | 0.09%             | 2055-12-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                                                    | Methanex Corp                                                                    | CUSIP: 59151KAM0<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |      4677000 | PA      | $4679631.79   | 0.03%             | 2027-10-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | Ares LIV CLO Ltd                                                                 | CUSIP: 04017WAW2<br>LEI: 549300BC3E2Y44TL8536 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2005269.60   | 0.01%             | 2038-07-15      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                            | Williams Scotsman Inc                                                            | CUSIP: 96949VAN3<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |       144000 | PA      | $148308.62    | 0.00%             | 2030-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRUST                                 | Sofi Consumer Loan Program 2026-B Trust                                          | CUSIP: 83407MAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1427000 | PA      | $1425450.85   | 0.01%             | 2036-02-25      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED COP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CO        |            1 | NC      | $56618.94     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | Ares Loan Funding VIII Ltd                                                       | CUSIP: 04021MAA6<br>LEI: 549300BC3E2Y44TL8536 | Long             | ABS-CBDO         | CORP              | KY        |      5250000 | PA      | $5258661.98   | 0.03%             | 2038-01-24      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans 2025-1 SRL                                         | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |       867263 | PA      | $1019430.91   | 0.01%             | 2040-12-28      | Floating      | 2.70%                 | No            |                  2 | On Loan: No      |
| VELOCITY 2026-1 PLC                                              | Velocity 2026-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800PL94CXWBF7SX91 | Long             | ABS-O            | CORP              | GB        |      1563000 | PA      | $2126875.20   | 0.01%             | 2037-02-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Ghana Government International Bonds                             | Ghana Government International Bonds                                             | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |      2100709 | PA      | $1923073.05   | 0.01%             | 2035-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                               | A&D Mortgage Trust 2024-NQM1                                                     | CUSIP: 00039GAA7<br>LEI: 984500E3BD374F778L95 | Long             | ABS-MBS          | CORP              | US        |       524398 | PA      | $526940.70    | 0.00%             | 2069-02-25      | Variable      | 6.20%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                      | PURCHASED USD / SOLD JPY                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $12569.97     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                                                  | AREIT 2024-CRE9 Ltd                                                              | CUSIP: 00193AAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       447676 | PA      | $447643.21    | 0.00%             | 2041-05-17      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                  | ICE: (ITRAXX.XO.42.V1)                                                           | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     10303573 | OU      | $1168659.03   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                                         | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC    | CUSIP: 44287DAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |      7385000 | PA      | $7054133.54   | 0.04%             | 2032-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 74 B Ltd                                              | CUSIP: 38190BAG0<br>LEI: 254900N3E7Y6I5DRGW52 | Long             | ABS-CBDO         | CORP              | JE        |       320000 | PA      | $320727.36    | 0.00%             | 2037-07-25      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| TURKCELL ILETISIM HIZMET                                         | Turkcell Iletisim Hizmetleri AS                                                  | CUSIP: 900111AD7<br>LEI: 7890003EX1LTLS2FFL84 | Long             | DBT              | CORP              | TR        |       620000 | PA      | $646142.36    | 0.00%             | 2032-01-24      | Fixed         | 7.65%                 | No            |                  2 | On Loan: —       |
| Atlas Funding                                                    | Atlas Funding 2024-1 PLC                                                         | CUSIP: 000000000<br>LEI: 635400BMBKLDPBSN2U43 | Long             | ABS-MBS          | CORP              | GB        |        99899 | PA      | $137248.10    | 0.00%             | 2061-09-20      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                                         | United Wholesale Mortgage LLC                                                    | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |      4921000 | PA      | $4695395.77   | 0.03%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Vasco Finance                                                    | TAGUS-Sociedade de Titularizacao de Creditos SA/Vasco Finance No. 3              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |      2200000 | PA      | $2580782.19   | 0.02%             | 2043-10-27      | Floating      | 2.88%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2022-2                                                  | CUSIP: 03464PAC1<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      1985017 | PA      | $1845727.97   | 0.01%             | 2067-01-25      | Variable      | 3.86%                 | No            |                  2 | On Loan: No      |
| ACORE Issuer, LLC                                                | Acore 2026-FL1 Issuer LLC                                                        | CUSIP: 00485EAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      4255000 | PA      | $4254982.98   | 0.03%             | 2043-08-20      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                             | Pilgrim's Pride Corp                                                             | CUSIP: 72147KAH1<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |      1999000 | PA      | $1825884.00   | 0.01%             | 2032-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer II, LLC                               | Compass Datacenters Issuer II LLC                                                | CUSIP: 20469CAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6203000 | PA      | $6088764.31   | 0.04%             | 2050-11-25      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| OCADO GROUP PLC                                                  | Ocado Group PLC                                                                  | CUSIP: 000000000<br>LEI: 213800LO8F61YB8MBC74 | Long             | DBT              | CORP              | GB        |      2600000 | PA      | $3572728.66   | 0.02%             | 2029-08-08      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| NATIONAL BANK GREECE SA                                          | National Bank of Greece SA                                                       | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | DBT              | CORP              | GR        |      2575000 | PA      | $2972883.76   | 0.02%             | 2031-08-12      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                                               | Bausch + Lomb Corp                                                               | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |      5873000 | PA      | $6063872.50   | 0.04%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                          | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAF8<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |      1763000 | PA      | $1824567.49   | 0.01%             | 2031-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | LendingClub Rated Notes Issuer Trust Series 2025-P2                              | CUSIP: 525949AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       572000 | PA      | $570438.73    | 0.00%             | 2035-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                    | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |      3552000 | PA      | $3596785.00   | 0.02%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: —       |
| TALEN ENERGY SUPPLY LLC                                          | Talen Energy Supply LLC                                                          | CUSIP: 87422VAM0<br>LEI: K5K33XN0PQAU1XF7NN66 | Long             | DBT              | CORP              | US        |      3988000 | PA      | $3958236.76   | 0.02%             | 2034-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CBAM CLO Management                                              | Cbam 2018-7 Ltd                                                                  | CUSIP: 12482JAC4<br>LEI: 2549002XHTMWO4GGPF51 | Long             | ABS-CBDO         | CORP              | KY        |       300000 | PA      | $300811.08    | 0.00%             | 2031-07-20      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                          | VZ Secured Financing BV                                                          | CUSIP: 91845AAA3<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |      9091000 | PA      | $7966187.84   | 0.05%             | 2032-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2026-CES1                                    | CUSIP: 36277LAA1<br>LEI: 2549005U12N6A8G3H936 | Long             | ABS-MBS          | CORP              | US        |      6191815 | PA      | $6138941.20   | 0.04%             | 2056-05-25      | Variable      | 4.90%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2026-2                                                | CUSIP: 92490GAP3<br>LEI: 213800OKSLL73WD2H386 | Long             | ABS-MBS          | CORP              | US        |       485715 | PA      | $481440.71    | 0.00%             | 2071-02-25      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance Issuance Trust 2021-B                                            | CUSIP: 56847JAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5745000 | PA      | $5610598.02   | 0.03%             | 2036-11-20      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2022-C                                          | CUSIP: 78449CAC2<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      5072000 | PA      | $4963009.82   | 0.03%             | 2050-05-16      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | Lendingclub Rated Notes Issuer Trust Series 2026-P1                              | CUSIP: 52611WAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       457644 | PA      | $467616.85    | 0.00%             | 2037-08-15      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| AB BSL CLO Ltd                                                   | AB BSL CLO 3 Ltd                                                                 | CUSIP: 00037QAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2480000 | PA      | $2485921.50   | 0.01%             | 2038-04-20      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Autoflorence                                                     | Autoflorence 4 Srl                                                               | CUSIP: 000000000<br>LEI: 815600C91B7AF7C88210 | Long             | ABS-O            | CORP              | IT        |      2574000 | PA      | $3025783.69   | 0.02%             | 2044-12-24      | Floating      | 2.63%                 | No            |                  2 | On Loan: No      |
| Arcano Euro CLO                                                  | Arcano Euro Clo II DAC                                                           | CUSIP: 000000000<br>LEI: 635400HGPOTPFZDKOF20 | Long             | ABS-CBDO         | CORP              | IE        |      1000000 | PA      | $1178376.80   | 0.01%             | 2039-07-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                           | US 2YR NOTE (CBT) JUN26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        16180 | NC      | $-15278826.45 | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2020-PT-A                                       | CUSIP: 78449VAC0<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       417571 | PA      | $416317.07    | 0.00%             | 2054-09-15      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| OCS GROUP HOLDINGS LTD                                           | OCS Group Holdings Ltd 2026 GBP Term Loan B5                                     | CUSIP: 000000000<br>LEI: 54930002RKY3Y4LURL90 | Long             | LON              | CORP              | GB        |      1000000 | PA      | $1355646.91   | 0.01%             | 2031-11-28      | Floating      | 8.98%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2022-2 Mortgage Loan Trust                                                  | CUSIP: 19685EAC5<br>LEI: 213800IHRVKO9R6JZ883 | Long             | ABS-MBS          | CORP              | US        |      3058042 | PA      | $2823414.16   | 0.02%             | 2067-02-25      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| TRANSNET/SOUTH AFRICA                                            | Transnet/South Africa                                                            | CUSIP: 000000000<br>LEI: 378900B07CD6F01EA796 | Long             | DBT              | CORP              | ZA        |      3150000 | PA      | $3277165.50   | 0.02%             | 2028-02-06      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                               | A&D Mortgage Trust 2024-NQM5                                                     | CUSIP: 00039KAC4<br>LEI: 9845006Z1DC68561N347 | Long             | ABS-MBS          | CORP              | US        |      5190397 | PA      | $5215360.43   | 0.03%             | 2069-11-25      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED USD / SOLD HUF                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |            1 | NC      | $56554.42     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                             | SoFi Professional Loan Program 2020-B Trust                                      | CUSIP: 83405FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1194066 | PA      | $1128942.17   | 0.01%             | 2046-05-15      | Fixed         | 2.17%                 | No            |                  2 | On Loan: No      |
| POWERCO LIMITED                                                  | Powerco Ltd                                                                      | CUSIP: 000000000<br>LEI: 549300Q0BOMPTQSR1328 | Long             | DBT              | CORP              | NZ        |      2010000 | PA      | $1437621.36   | 0.01%             | 2036-04-28      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CNY 1.557500 17-DEC-2030 CNR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     17672013 | OU      | $2276.25      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                             | SoFi Professional Loan Program 2020-C Trust                                      | CUSIP: 83390UAC1<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |       537000 | PA      | $462183.39    | 0.00%             | 2046-02-15      | Fixed         | 3.36%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |      3905000 | PA      | $3698115.83   | 0.02%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | USD C ZAR P @17.50000 EO                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |      2391750 | OU      | $377.90       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EDvestinU Private Education Loan Issue No. 1, LLC                | EDvestinU Private Education Loan Issue No 1 LLC                                  | CUSIP: 28166GAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        31715 | PA      | $31390.93     | 0.00%             | 2038-11-25      | Fixed         | 3.58%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO1, LTD                          | Goldentree Loan Management US Clo 26 Ltd                                         | CUSIP: 38139QAL0<br>LEI: 254900C5OE1SRC894D90 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2513562.00   | 0.01%             | 2038-07-20      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| European Loan Conduit                                            | Lagarino European Loan Conduit No 40 DAC                                         | CUSIP: 000000000<br>LEI: 635400BIYQM1LPPW1N05 | Long             | ABS-MBS          | CORP              | IE        |      1921316 | PA      | $2249328.34   | 0.01%             | 2037-06-22      | Floating      | 3.61%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                  | Republic Finance Issuance Trust 2025-A                                           | CUSIP: 76042FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6466000 | PA      | $6425486.63   | 0.04%             | 2034-11-20      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO 2015-4 Ltd                                                      | CUSIP: 09628NAY8<br>LEI: 549300EB3KHH9T7ICE44 | Long             | ABS-CBDO         | CORP              | KY        |      3192794 | PA      | $3192694.77   | 0.02%             | 2030-04-20      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                             | SoFi Professional Loan Program 2020-ATrust                                       | CUSIP: 83406TAC6<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |       365000 | PA      | $329356.87    | 0.00%             | 2046-05-15      | Fixed         | 3.12%                 | No            |                  2 | On Loan: No      |
| GROUP 1 AUTOMOTIVE INC                                           | Group 1 Automotive Inc                                                           | CUSIP: 398905AN9<br>LEI: 549300US8QAZJLWYAF63 | Long             | DBT              | CORP              | US        |      1875000 | PA      | $1825528.13   | 0.01%             | 2028-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Auto1 Car Funding                                                | Auto1 Car Funding Sarl Compartment FinanceHero 2                                 | CUSIP: 000000000<br>LEI: 984500380CAE46K6F380 | Long             | ABS-O            | CORP              | LU        |        83696 | PA      | $98511.88     | 0.00%             | 2035-07-16      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-GPA2                                           | CUSIP: 12433DAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5604155 | PA      | $5609408.85   | 0.03%             | 2041-11-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.670000 30-JUL-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     35820439 | OU      | $-7428.41     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman CLO XXI Ltd                                                     | CUSIP: 64130DBS8<br>LEI: 549300VBBLOSKH8XQ869 | Long             | ABS-CBDO         | CORP              | KY        |      9000000 | PA      | $9019913.40   | 0.05%             | 2039-01-20      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| ARDAGH GROUP SA                                                  | Ardagh Group SA                                                                  | CUSIP: 03969UAA4<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |      5982000 | PA      | $5368246.80   | 0.03%             | 2030-12-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2025-A                                                 | CUSIP: 64033XAE4<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      5002055 | PA      | $4963760.21   | 0.03%             | 2057-03-15      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF COLOMBIA                                             | Colombia Government International Bond                                           | CUSIP: 195325ET8<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      2376000 | PA      | $2362100.40   | 0.01%             | 2029-01-21      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited                  | HOMES 2024-NQM1 Trust                                                            | CUSIP: 40390TAA8<br>LEI: 2549001JI3VOZZFMYK81 | Long             | ABS-MBS          | CORP              | US        |       270905 | PA      | $272556.40    | 0.00%             | 2069-07-25      | Variable      | 5.92%                 | No            |                  2 | On Loan: No      |
| INEOS FINANCE PLC                                                | INEOS Finance PLC                                                                | CUSIP: 000000000<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |      5397000 | PA      | $6203800.08   | 0.04%             | 2029-04-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                        | Sunoco LP                                                                        | CUSIP: 86765KAJ8<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |      5802000 | PA      | $5685926.93   | 0.03%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HLLG5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4337824 | PA      | $4406317.97   | 0.03%             | 2055-06-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2023-2 Mortgage Loan Trust                                                  | CUSIP: 12598UAA4<br>LEI: 213800IHRVKO9R6JZ883 | Long             | ABS-MBS          | CORP              | US        |      1842056 | PA      | $1841911.20   | 0.01%             | 2068-07-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2025-3 PLC                                                               | CUSIP: 000000000<br>LEI: 2138004HHDTEKA2ZLF42 | Long             | ABS-MBS          | CORP              | GB        |       377000 | PA      | $515735.93    | 0.00%             | 2069-10-27      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | LendingClub Rated Notes Issuer Trust Series 2025-P2                              | CUSIP: 525949AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4110735 | PA      | $4125799.97   | 0.02%             | 2035-02-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| SYNTHOMER PLC                                                    | Synthomer PLC                                                                    | CUSIP: 000000000<br>LEI: 213800EHT3TI1KPQQJ56 | Long             | DBT              | CORP              | GB        |      4295000 | PA      | $3693061.63   | 0.02%             | 2029-05-02      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Sage AR Funding 2025 No 1 Plc                                    | Sage AR Funding                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |       327244 | PA      | $443660.96    | 0.00%             | 2037-05-17      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| Goldman Home Improvement Trust Issuer Trust                      | Goldman Home Improvement Trust 2022-GRN1 Issuer Trust                            | CUSIP: 38150YAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1794655 | PA      | $1791575.21   | 0.01%             | 2052-06-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                                              | Travel + Leisure Co                                                              | CUSIP: 894164AA0<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |       200000 | PA      | $193246.60    | 0.00%             | 2029-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2026-NQM1 Trust                                                             | CUSIP: 74391DAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2019065 | PA      | $1996847.21   | 0.01%             | 2071-02-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                                           | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1708000 | PA      | $1748679.44   | 0.01%             | 2028-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| REPUBLIC OF SOUTH AFRICA                                         | Republic of South Africa Government Bond                                         | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    987336330 | PA      | $58915364.97  | 0.35%             | 2030-01-31      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Fairbridge                                                       | Fairbridge 2025-1 BV                                                             | CUSIP: 000000000<br>LEI: 724500T08SS1ZWOYTR56 | Long             | ABS-MBS          | CORP              | NL        |      3154911 | PA      | $3709762.43   | 0.02%             | 2062-02-24      | Floating      | 2.97%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                             | Pilgrim's Pride Corp                                                             | CUSIP: 72147KAJ7<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |      3239000 | PA      | $3113145.25   | 0.02%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.812000 17-SEP-2026 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    140092291 | OU      | $4532.22      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                 | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | BR        |            1 | NC      | $136889.51    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.290000 03-OCT-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     48981524 | OU      | $-54180.36    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | LendingClub Rated Notes Issuer Trust Series 2025-P2                              | CUSIP: 525949AE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       367000 | PA      | $365278.11    | 0.00%             | 2036-07-15      | Fixed         | 8.99%                 | No            |                  2 | On Loan: No      |
| UNICREDIT SPA                                                    | UniCredit SpA                                                                    | CUSIP: 000000000<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |      8200000 | PA      | $9861034.15   | 0.06%             | 2031-01-23      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: OIS 2.865000 30-MAR-2056 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1596640277 | OU      | $-518576.35   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Five Srl                 | CUSIP: 000000000<br>LEI: 8156006F7517955B5E95 | Long             | ABS-O            | CORP              | IT        |       108224 | PA      | $127342.04    | 0.00%             | 2039-11-15      | Floating      | 3.25%                 | No            |                  2 | On Loan: No      |
| BLACK PEARL COMPUTE LLC                                          | Black Pearl Compute LLC                                                          | CUSIP: 09216NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3431000 | PA      | $3481050.64   | 0.02%             | 2031-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Trust 2024-1                                           | CUSIP: 39571MAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1542854 | PA      | $1561030.96   | 0.01%             | 2059-06-25      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Tikehau US CLO Ltd                                               | Tikehau US CLO VI Ltd                                                            | CUSIP: 88676PAG7<br>LEI: 254900G2SWUGII8WH893 | Long             | ABS-CBDO         | CORP              | BM        |      7500000 | PA      | $7507380.75   | 0.04%             | 2037-07-18      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| TAV HAVALIMANLARI HOLDIN                                         | TAV Havalimanlari Holding AS                                                     | CUSIP: 000000000<br>LEI: 789000PBM9TT5D88M597 | Long             | DBT              | CORP              | TR        |       625000 | PA      | $643750.00    | 0.00%             | 2028-12-07      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC FIN CO                                           | Global Atlantic Fin Co                                                           | CUSIP: 37959GAH0<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |      1646000 | PA      | $1622400.97   | 0.01%             | 2056-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| VONOVIA SE                                                       | Vonovia SE                                                                       | CUSIP: 000000000<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | DBT              | CORP              | DE        |      6300000 | PA      | $7109516.69   | 0.04%             | 2032-05-20      | Fixed         | 0.88%                 | No            |                  1 | On Loan: No      |
| CITY OF ULAANBAATAAR MON                                         | City of Ulaanbaatar Mongolia                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |      1500000 | PA      | $1526250.00   | 0.01%             | 2027-08-21      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA O2 V DAC                                            | Virgin Media O2 Vendor Financing Notes V DAC                                     | CUSIP: 000000000<br>LEI: 635400ASSEVCXAPVGC36 | Long             | DBT              | CORP              | IE        |      8016000 | PA      | $9715337.92   | 0.06%             | 2032-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                             | Deephaven Residential Mortgage Trust 2026-INV2                                   | CUSIP: 24380UAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1652588 | PA      | $1656394.08   | 0.01%             | 2071-02-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                                        | Prosus NV                                                                        | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |      1835000 | PA      | $1757700.63   | 0.01%             | 2030-01-21      | Fixed         | 3.68%                 | No            |                  2 | On Loan: —       |
| PERRIGO FINANCE UNLIMITE                                         | Perrigo Finance Unlimited Co                                                     | CUSIP: 71429MAD7<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |      2667000 | PA      | $2509561.39   | 0.01%             | 2032-09-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BTK44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1677746 | PA      | $1700447.29   | 0.01%             | 2054-12-25      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF MONTENEGRO                                           | Montenegro Government International Bond                                         | CUSIP: 000000000<br>LEI: 747800V014106FYLL014 | Long             | DBT              | NUSS              | ME        |       575000 | PA      | $660592.40    | 0.00%             | 2027-12-16      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                                              | Churchill Downs Inc                                                              | CUSIP: 171484AE8<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |      6373000 | PA      | $6317448.98   | 0.04%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MHP LUX SA                                                       | MHP Lux SA                                                                       | CUSIP: 59318YAC2<br>LEI: 222100RHC7R1WZ1J3M44 | Long             | DBT              | CORP              | LU        |       335000 | PA      | $342537.50    | 0.00%             | 2029-07-28      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Engineered Machinery Holdings Inc                                | Engineered Machinery Holdings Inc 2025 EUR Term Loan                             | CUSIP: 26658NAU3<br>LEI: 5493008AR0NPSLW8EW07 | Long             | LON              | CORP              | US        |      1979381 | PA      | $2336179.47   | 0.01%             | 2032-11-26      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| DK Trust 2025-LXP                                                | DK Trust 2025-LXP                                                                | CUSIP: 23292LAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3764000 | PA      | $3766352.50   | 0.02%             | 2037-08-15      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Aimco                                                            | AIMCO CLO 23 Ltd                                                                 | CUSIP: 00901JAA6<br>LEI: 254900JY4GSBXW978G85 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $249764.83    | 0.00%             | 2038-04-20      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| GSAT Trust 2025-BMF                                              | GSAT Trust 2025-BMF                                                              | CUSIP: 36271XAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9475000 | PA      | $9463187.52   | 0.06%             | 2040-07-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CNY 1.534000 18-MAR-2029 CNR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     25408278 | OU      | $5712.34      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Affirm Inc                                                       | Affirm Asset Securitization Trust 2025-X2                                        | CUSIP: 00835DAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       819000 | PA      | $820043.98    | 0.00%             | 2030-10-15      | Fixed         | 4.56%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                                      | Gap Inc/The                                                                      | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |       575000 | PA      | $526079.29    | 0.00%             | 2031-10-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Greystone Commercial Real Estate Notes                           | Greystone CRE Notes 2025 HC-4 LLC                                                | CUSIP: 39809NAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      8000000 | PA      | $8001095.20   | 0.05%             | 2042-10-15      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                      | FIGRE Trust 2025-HE7                                                             | CUSIP: 31684RAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9022269 | PA      | $8987932.13   | 0.05%             | 2055-11-25      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                         | Celanese US Holdings LLC                                                         | CUSIP: 15089QBD5<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |      5059000 | PA      | $5296692.06   | 0.03%             | 2034-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Winwater Mortgage Loan Trust                                     | WinWater Mortgage Loan Trust 2015-5                                              | CUSIP: 97654DCD6<br>LEI: 549300PWVP7DMQC42S40 | Long             | ABS-MBS          | CORP              | US        |       449517 | PA      | $310706.03    | 0.00%             | 2045-08-20      | Variable      | 3.76%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                         | Service Properties Trust                                                         | CUSIP: 44106MAY8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |      5314000 | PA      | $4783432.70   | 0.03%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                             | Republic of Uzbekistan International Bond                                        | CUSIP: 91822QVX2<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |       517000 | PA      | $547177.29    | 0.00%             | 2028-10-12      | Fixed         | 7.85%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                                   | Upgrade Master Pass-Thru Trust Series 2025-ST8                                   | CUSIP: 91535UAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2428000 | PA      | $2411172.75   | 0.01%             | 2033-12-15      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS II LLC                                            | QTS Issuer ABS II LLC                                                            | CUSIP: 74690FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5182000 | PA      | $5081953.72   | 0.03%             | 2055-10-05      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2025-NQM5                                                                   | CUSIP: 28225KAC9<br>LEI: 254900XFNEJEC9OBKH62 | Long             | ABS-MBS          | CORP              | US        |     15382189 | PA      | $15341542.86  | 0.09%             | 2070-11-25      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| Wells Fargo & Co.                                                | Wells Fargo & Co.                                                                | CUSIP: 000000000<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      4500000 | PA      | $5035517.34   | 0.03%             | 2030-05-04      | Fixed         | 1.74%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                                         | Development Bank of Kazakhstan JSC                                               | CUSIP: 25159XAF0<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |    337500000 | PA      | $683523.37    | 0.00%             | 2028-05-23      | Fixed         | 13.49%                | No            |                  2 | On Loan: No      |
| FT Santander Residential                                         | Santander Residential 1 FT                                                       | CUSIP: 000000000<br>LEI: 959800E7PWPHWSWPK316 | Long             | ABS-MBS          | CORP              | ES        |      1418413 | PA      | $1668368.74   | 0.01%             | 2068-10-18      | Floating      | 2.95%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2025-DSC2                         | CUSIP: 61778XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12935726 | PA      | $12979124.33  | 0.08%             | 2070-07-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                                               | Morocco Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |       823000 | PA      | $793931.64    | 0.00%             | 2027-12-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO XI Ltd                                               | Elmwood CLO XI Ltd                                                               | CUSIP: 29002LAQ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1000387.00   | 0.01%             | 2038-01-20      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| Bryant Park Funding Ltd                                          | Bryant Park Funding 2023-19 Ltd                                                  | CUSIP: 11765AAY5<br>LEI: 5493004CTFWJSWYD8564 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $727577.70    | 0.00%             | 2038-04-15      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| Diameter Capital CLO                                             | Diameter Capital CLO 10 Ltd                                                      | CUSIP: 25290BAA9<br>LEI: 25490018I1ROE4V49X69 | Long             | ABS-CBDO         | CORP              | KY        |      2250000 | PA      | $2255524.20   | 0.01%             | 2038-04-20      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6901000 | PA      | $6780846.69   | 0.04%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                                        | Prosus NV                                                                        | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |      7090000 | PA      | $6473170.00   | 0.04%             | 2031-07-13      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| HSBC BANK PLC                                                    | USD P IDR C @16400.00 EO                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |     13348000 | OU      | $13.35        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SHERWIN-WILLIAMS CO                                              | Sherwin-Williams Co/The                                                          | CUSIP: 824348AW6<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |      5035000 | PA      | $4990105.62   | 0.03%             | 2027-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                                               | Advance Auto Parts Inc                                                           | CUSIP: 00751YAE6<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |      2144000 | PA      | $2011047.34   | 0.01%             | 2030-04-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: —       |
| LCH Ltd.                                                         | FSWP: CZK 3.808000 17-SEP-2030 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     69380904 | OU      | $-9327.66     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-TAIL                                                               | CUSIP: 123912AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5130000 | PA      | $5130054.38   | 0.03%             | 2035-06-15      | Floating      | 6.95%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | FSWP: OIS 9.420000 17-DEC-2029 IBR                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |  16370409184 | OU      | $343431.13    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GREENKO WIND PROJECTS MU                                         | Greenko Wind Projects Mauritius Ltd                                              | CUSIP: 000000000<br>LEI: 254900MSUXE1FF83DP82 | Long             | DBT              | CORP              | MU        |      1934540 | PA      | $1951950.86   | 0.01%             | 2028-09-27      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                                     | Barclays Mortgage Loan Trust 2026-NQM3                                           | CUSIP: 06749CAM8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     25275546 | PA      | $25624965.29  | 0.15%             | 2066-01-25      | Variable      | 4.92%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                                     | ING Groep NV                                                                     | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |      7000000 | PA      | $8334769.62   | 0.05%             | 2034-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                  | Republic Finance Issuance Trust 2024-B                                           | CUSIP: 76042GAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3630000 | PA      | $3663673.33   | 0.02%             | 2037-11-20      | Fixed         | 5.86%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BTK85<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6053380 | PA      | $6117944.32   | 0.04%             | 2054-12-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2024-3 Ltd                                            | CUSIP: 69690EAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      6075000 | PA      | $6064671.29   | 0.04%             | 2032-08-08      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| MAIN Trust                                                       | MAIN Trust 2026-OLAS                                                             | CUSIP: 56036BAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9900000 | PA      | $9899950.80   | 0.06%             | 2041-01-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| DOLCETTO HOLDCO SPA                                              | Dolcetto Holdco SpA                                                              | CUSIP: 000000000<br>LEI: 81560029E819F2CE4A42 | Long             | DBT              | CORP              | IT        |       595000 | PA      | $702818.10    | 0.00%             | 2032-07-14      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| Greywolf CLO Ltd                                                 | Greywolf CLO II Ltd                                                              | CUSIP: 398079BA0<br>LEI: 549300DX0ZYWEZ6TY764 | Long             | ABS-CBDO         | CORP              | KY        |      7450000 | PA      | $7463985.14   | 0.04%             | 2034-04-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XXIV Ltd                                                    | CUSIP: 55820NBC4<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |       850000 | PA      | $853227.20    | 0.01%             | 2029-10-20      | Floating      | 6.63%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans 2024-1 SRL                                         | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |       529273 | PA      | $622185.29    | 0.00%             | 2036-12-29      | Floating      | 2.73%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BVWT1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     14576410 | PA      | $14739591.48  | 0.09%             | 2055-05-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Jubilee CDO BV                                                   | Jubilee CLO 2024-XXIX DAC                                                        | CUSIP: 000000000<br>LEI: 635400VFSWKTVSOVPY94 | Long             | ABS-CBDO         | CORP              | IE        |      1420000 | PA      | $1668024.48   | 0.01%             | 2039-01-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| PROGROUP AG                                                      | Progroup AG                                                                      | CUSIP: 000000000<br>LEI: 529900YI5W5TQ8F2FP82 | Long             | DBT              | CORP              | DE        |      3129000 | PA      | $3721922.99   | 0.02%             | 2029-04-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO 2016-3 Ltd                                                      | CUSIP: 09628VAY0<br>LEI: 549300EYIDIF4X8MHI21 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1000109.20   | 0.01%             | 2030-11-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                              | Sirius XM Radio LLC                                                              | CUSIP: 82967NBG2<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      3881000 | PA      | $3611228.59   | 0.02%             | 2030-07-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                | Clarios Global LP 2025 EUR Term Loan B                                           | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |      1000000 | PA      | $1180492.06   | 0.01%             | 2032-01-28      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| STELLANTIS NV                                                    | Stellantis NV                                                                    | CUSIP: 000000000<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | DBT              | CORP              | NL        |     10000000 | PA      | $11512388.22  | 0.07%             | 2033-12-16      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 3.987300 03-NOV-2027 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |       957150 | OU      | $4305.73      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Noria                                                            | FCT Noria 2025                                                                   | CUSIP: 000000000<br>LEI: 5493003C5ECZD3NDSV63 | Long             | ABS-O            | CORP              | FR        |       100000 | PA      | $117698.87    | 0.00%             | 2043-07-25      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2023-2                                          | CUSIP: 68269HAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5323000 | PA      | $5429991.77   | 0.03%             | 2036-09-15      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                                         | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2278000 | PA      | $2257598.55   | 0.01%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: —       |
| CIFC Funding Ltd                                                 | CIFC Funding 2019-III Ltd                                                        | CUSIP: 12554VBE5<br>LEI: 254900SVOWCOSOG16T40 | Long             | ABS-CBDO         | CORP              | KY        |      1820000 | PA      | $1822737.28   | 0.01%             | 2038-01-16      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| INEOS FINANCE PLC                                                | INEOS Finance PLC                                                                | CUSIP: 44984WAH0<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |       916000 | PA      | $919965.36    | 0.01%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL CORP                                                  | Murphy Oil Corp                                                                  | CUSIP: 626717AQ5<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |      1508000 | PA      | $1519623.66   | 0.01%             | 2034-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MidOcean Credit CLO                                              | MidOcean Credit CLO XIX                                                          | CUSIP: 59803HAA5<br>LEI: 254900LHC18VUV4A5266 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001359.40   | 0.01%             | 2036-07-20      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| APA INFRASTRUCTURE LTD                                           | APA Infrastructure Ltd                                                           | CUSIP: 000000000<br>LEI: 261700SS8OEHDOCOUJ33 | Long             | SN               | CORP              | AU        |      1690000 | PA      | $1217445.83   | 0.01%             | 2056-04-28      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                                 | CARLYLE US CLO 2017-3 Ltd                                                        | CUSIP: 14314FBC1<br>LEI: 549300VC6J79YJCFU884 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1004416.80   | 0.01%             | 2037-10-21      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                                 | Peruvian Government International Bond                                           | CUSIP: 715638EA6<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     13892000 | PA      | $4166621.80   | 0.02%             | 2039-08-12      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                         | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AJ4<br>LEI: N/A                  | Long             | DBT              |  | US        |       319000 | PA      | $326422.81    | 0.00%             | 2028-07-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| HSBC BANK PLC                                                    | FSWP: OIS 11.000000 18-MAR-2028 IB                                               | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DIR              |  | US        |  12302520854 | OU      | $-69284.51    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2025-2 Ltd                                            | CUSIP: 69704AAG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $3961615.60   | 0.02%             | 2033-07-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                             | Garda World Security Corp                                                        | CUSIP: 36485MAL3<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |        50000 | PA      | $48996.09     | 0.00%             | 2029-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Affirm Inc                                                       | Affirm Asset Securitization Trust 2025-X1                                        | CUSIP: 00834MAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1591000 | PA      | $1593251.58   | 0.01%             | 2030-04-15      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 5.490000 18-JUN-2036 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1263589381 | OU      | $448.21       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | Ares Loan Funding IX Ltd                                                         | CUSIP: 03990HAA6<br>LEI: 549300BC3E2Y44TL8536 | Long             | ABS-CBDO         | CORP              | KY        |      8000000 | PA      | $7998500.80   | 0.05%             | 2038-03-31      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HJD53<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3349457 | PA      | $3389966.56   | 0.02%             | 2055-02-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2026-NQM1                                               | CUSIP: 46660DAE5<br>LEI: 529900PEVYDPZXGGUW77 | Long             | ABS-MBS          | CORP              | US        |      3015335 | PA      | $2991222.43   | 0.02%             | 2066-06-25      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                                         | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |      2701000 | PA      | $2664041.41   | 0.02%             | 2029-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F060667<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     97100000 | PA      | $99020428.26  | 0.59%             | 2056-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SGL GROUP APS                                                    | SGL Group ApS                                                                    | CUSIP: 000000000<br>LEI: 636700YQKGLXCPPUYE74 | Long             | DBT              | CORP              | DK        |     11804000 | PA      | $13224735.47  | 0.08%             | 2030-04-22      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-KING                                           | CUSIP: 05612RAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5926973 | PA      | $5932179.38   | 0.04%             | 2034-05-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| Together Asset Backed Securitisation                             | Together Asset Backed Securitisation 2025-Cre-1 PLC                              | CUSIP: 000000000<br>LEI: 635400IHLPBPFA2IVG30 | Long             | ABS-MBS          | CORP              | GB        |       109000 | PA      | $149823.77    | 0.00%             | 2057-01-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-MF                                             | CUSIP: 05612EAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8239155 | PA      | $8244304.02   | 0.05%             | 2039-02-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| PCL Funding II                                                   | PCL Funding IX PLC                                                               | CUSIP: 000000000<br>LEI: 213800OC928ETRJNHM43 | Long             | ABS-O            | CORP              | GB        |      1142000 | PA      | $1556748.47   | 0.01%             | 2029-07-16      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| SRC SUKUK LTD                                                    | SRC Sukuk Ltd                                                                    | CUSIP: 000000000<br>LEI: 254900F2OG3526JLAV10 | Long             | DBT              | CORP              | KY        |      2740000 | PA      | $2721162.50   | 0.02%             | 2029-04-02      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BlackRock Funds III                                              | BlackRock Cash Funds: Institutional, SL Agency Shares                            | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |    506920345 | NS      | $507072420.80 | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                          | Starwood Property Trust Inc                                                      | CUSIP: 85571BAY1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |       190000 | PA      | $189256.63    | 0.00%             | 2027-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BANK NEGARA INDONESIA                                            | Bank Negara Indonesia Persero Tbk PT                                             | CUSIP: 000000000<br>LEI: 549300HZ8J3MLVXQ8F85 | Long             | DBT              | CORP              | ID        |      3600000 | PA      | $3622500.00   | 0.02%             | 2031-10-22      | Fixed         | 7.15%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2021-NQM2                                        | CUSIP: 10569EAC5<br>LEI: 2549000KHGUZMZ31N203 | Long             | ABS-MBS          | CORP              | US        |       148976 | PA      | $147114.01    | 0.00%             | 2060-03-25      | Variable      | 1.44%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                          | United Rentals North America Inc                                                 | CUSIP: 911365BM5<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |       597000 | PA      | $589025.15    | 0.00%             | 2027-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                   | Rocket Cos Inc                                                                   | CUSIP: 77311WAC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10070000 | PA      | $10258198.23  | 0.06%             | 2029-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| DAVITA INC                                                       | DaVita Inc                                                                       | CUSIP: 23918KAY4<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |      9108000 | PA      | $9390985.56   | 0.06%             | 2033-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Trestles CLO LTD                                                 | Trestles CLO VI Ltd                                                              | CUSIP: 894940AQ8<br>LEI: 254900837GHK5VH7YU15 | Long             | ABS-CBDO         | CORP              | KY        |      5670000 | PA      | $5671640.33   | 0.03%             | 2038-04-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| EUSHI FINANCE INC                                                | EUSHI Finance Inc                                                                | CUSIP: 29882DAC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       459000 | PA      | $454581.85    | 0.00%             | 2056-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $4148.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SC Austria                                                       | SC Austria Sarl                                                                  | CUSIP: 000000000<br>LEI: 81560007AFE688B7A894 | Long             | ABS-O            | CORP              | LU        |      1128000 | PA      | $1331033.73   | 0.01%             | 2041-07-25      | Floating      | 3.83%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9139000 | PA      | $8663126.79   | 0.05%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CITYCON OYJ                                                      | Citycon Oyj                                                                      | CUSIP: 000000000<br>LEI: 549300P8N0P6KDGTJ206 | Long             | DBT              | CORP              | FI        |      1515000 | PA      | $1284251.24   | 0.01%             | 2026-06-10      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| MidOcean Credit CLO                                              | Midocean Credit CLO XV Ltd                                                       | CUSIP: 59801FAJ2<br>LEI: 254900R5AXF91DYP1Y16 | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $1004069.90   | 0.01%             | 2037-07-21      | Floating      | 7.02%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                     | Fibercop SpA                                                                     | CUSIP: 683879AH3<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |      2228000 | PA      | $2233899.74   | 0.01%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| SMYRNA READY MIX CONCRET                                         | Smyrna Ready Mix Concrete LLC                                                    | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |      6747000 | PA      | $7064527.31   | 0.04%             | 2031-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2020-2                                          | CUSIP: 682696AC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       575000 | PA      | $559044.90    | 0.00%             | 2035-09-14      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2025-1 DAC                                             | CUSIP: 000000000<br>LEI: 635400DRZLOPFVGZUR29 | Long             | ABS-O            | CORP              | IE        |       600000 | PA      | $704181.36    | 0.00%             | 2035-04-18      | Floating      | 3.00%                 | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2025-1 DAC                                             | CUSIP: 000000000<br>LEI: 635400DRZLOPFVGZUR29 | Long             | ABS-O            | CORP              | IE        |       200000 | PA      | $234988.14    | 0.00%             | 2035-04-18      | Floating      | 3.35%                 | No            |                  2 | On Loan: No      |
| CITADEL PLC                                                      | Citadel 2024-1 PLC                                                               | CUSIP: 000000000<br>LEI: 213800XKX6NBEB5W9Z43 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $138193.11    | 0.00%             | 2060-04-28      | Floating      | 7.49%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | Ellington Financial Mortgage Trust 2021-3                                        | CUSIP: 31573JAA8<br>LEI: 254900UDLJF220C8I638 | Long             | ABS-MBS          | CORP              | US        |       526117 | PA      | $441843.08    | 0.00%             | 2066-09-25      | Variable      | 1.24%                 | No            |                  2 | On Loan: No      |
| KINGDOM OF JORDAN                                                | Jordan Government International Bond                                             | CUSIP: 000000000<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |      1306000 | PA      | $1344200.50   | 0.01%             | 2028-01-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TELECOM ITALIA CAPITAL                                           | Telecom Italia Capital SA                                                        | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |      1162000 | PA      | $1315690.77   | 0.01%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                                | Battalion CLO XII Ltd                                                            | CUSIP: 07133RBA2<br>LEI: 549300JIE0P78OIZGS60 | Long             | ABS-CBDO         | CORP              | KY        |      1170000 | PA      | $1170620.45   | 0.01%             | 2031-05-17      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                               | MCR 2024-TWA Mortgage Trust                                                      | CUSIP: 582923AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4800000 | PA      | $4830009.60   | 0.03%             | 2039-06-12      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| SENSATA TECH INC                                                 | Sensata Technologies Inc                                                         | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |      2425000 | PA      | $2351189.79   | 0.01%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                               | Regional Management Issuance Trust 2021-2                                        | CUSIP: 75907UAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4477000 | PA      | $4362233.45   | 0.03%             | 2033-08-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                | Iron Mountain Inc                                                                | CUSIP: 46284VAG6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      1073000 | PA      | $1069491.72   | 0.01%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SC GERMANY CONSUMER                                              | SC Germany SA Compartment Consumer 2024-2                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       100000 | PA      | $117744.88    | 0.00%             | 2038-05-14      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.787500 04-JAN-2027 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     18412512 | OU      | $17162.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                           | General Motors Financial Co Inc                                                  | CUSIP: 37045XFQ4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |     16000000 | PA      | $16035659.04  | 0.10%             | 2029-04-06      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| SPRINT CAPITAL CORP                                              | Sprint Capital Corp                                                              | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |      9295000 | PA      | $9814156.52   | 0.06%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRUST                                 | SoFi Consumer Loan Program 2025-1 Trust                                          | CUSIP: 83406YAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4393000 | PA      | $4426385.04   | 0.03%             | 2034-02-27      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Annisa CLO Ltd                                                   | Annisa CLO Ltd 2016-2                                                            | CUSIP: 036011AU8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       400000 | PA      | $400317.92    | 0.00%             | 2031-07-20      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO1, LTD                          | Goldentree Loan Management US Clo 26 Ltd                                         | CUSIP: 38139QAN6<br>LEI: 254900C5OE1SRC894D90 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1006655.00   | 0.01%             | 2038-07-20      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2021-1                                          | CUSIP: 68269MAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       200000 | PA      | $189297.96    | 0.00%             | 2036-06-16      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                                | Iliad Holding SAS                                                                | CUSIP: 000000000<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |     14195000 | PA      | $17502458.68  | 0.10%             | 2031-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MVM ENERGETIKA ZRT                                               | MVM Energetika Zrt                                                               | CUSIP: 000000000<br>LEI: 529900ELI5AQ9F74PF85 | Long             | DBT              | CORP              | HU        |      2841000 | PA      | $2974242.90   | 0.02%             | 2031-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                           | Turkiye Government International Bonds                                           | CUSIP: 900123DP2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      1265000 | PA      | $1290616.25   | 0.01%             | 2032-02-12      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BCP MODULAR SERVICES                                             | BCP V Modular Services Finance II PLC                                            | CUSIP: 000000000<br>LEI: 213800227GGD6UI7PI97 | Long             | DBT              | CORP              | GB        |     15500000 | PA      | $19875572.08  | 0.12%             | 2028-11-30      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: OIS 1.318500 30-MAR-2028 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5650682935 | OU      | $260.82       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | ARES LXXIX CLO Ltd                                                               | CUSIP: 04021UAA8<br>LEI: 549300BC3E2Y44TL8536 | Long             | ABS-CBDO         | CORP              | KY        |      4750000 | PA      | $4749782.45   | 0.03%             | 2039-04-20      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2024-1                                                    | CUSIP: 52603DAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5241000 | PA      | $5308327.98   | 0.03%             | 2032-06-21      | Fixed         | 7.21%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-3641305.63  | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2020-A                                          | CUSIP: 78449UAD0<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      3600000 | PA      | $3371905.44   | 0.02%             | 2045-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                         | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAC7<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |       150000 | PA      | $133676.72    | 0.00%             | 2033-11-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust 2021-909                           | NYC Trust 2025-77C                                                               | CUSIP: 67123LAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     14075000 | PA      | $13986369.73  | 0.08%             | 2036-01-10      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| CAPITAL ONE FINANCIAL CO                                         | Capital One Financial Corp                                                       | CUSIP: 14040HBN4<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | DBT              | CORP              | US        |     11000000 | PA      | $10956968.11  | 0.06%             | 2027-03-09      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| US FOODS INC                                                     | US Foods Inc                                                                     | CUSIP: 90290MAD3<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |      1650000 | PA      | $1632037.44   | 0.01%             | 2029-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                               | Regional Management Issuance Trust 2025-2                                        | CUSIP: 75908BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7346000 | PA      | $7291249.53   | 0.04%             | 2037-11-16      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 3.990000 17-SEP-2027 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     21367172 | OU      | $-92338.27    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                  | Nissan Motor Co Ltd                                                              | CUSIP: 000000000<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |     12468000 | PA      | $15024440.82  | 0.09%             | 2033-07-17      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Youni Italy                                                      | Youni Italy 2025-2 Srl                                                           | CUSIP: 000000000<br>LEI: 8156001A7AEEA1E59607 | Long             | ABS-O            | CORP              | IT        |       391805 | PA      | $459723.02    | 0.00%             | 2036-01-25      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Valley Stream Park CLO, Ltd                                      | Valley Stream Park CLO LTD                                                       | CUSIP: 92013AAX7<br>LEI: 213800DEME82SWN32S20 | Long             | ABS-CBDO         | CORP              | JE        |      4340000 | PA      | $4344889.44   | 0.03%             | 2037-01-20      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |            1 | NC      | $-131809.73   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2020-2R Mortgage Loan Trust                                                 | CUSIP: 12656GAA4<br>LEI: 2138001HZNOLT1K3WY73 | Long             | ABS-MBS          | CORP              | US        |       628076 | PA      | $597270.20    | 0.00%             | 2065-10-26      | Variable      | 1.33%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2025-B                                                 | CUSIP: 64032BAD5<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      2406000 | PA      | $2365429.55   | 0.01%             | 2055-05-17      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $-521670.69   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CS TREASURY MGMT SERVICE                                         | CS Treasury Management Services P Ltd                                            | CUSIP: 000000000<br>LEI: 254900MLBK4TUEESYL96 | Long             | DBT              | CORP              | VG        |      3000000 | PA      | $3063375.00   | 0.02%             | 2026-06-05      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                              | Synchrony Financial                                                              | CUSIP: 87165BAU7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |      2084000 | PA      | $2160417.51   | 0.01%             | 2033-02-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2023-C                                          | CUSIP: 83207DAB4<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      3523627 | PA      | $3558472.09   | 0.02%             | 2052-11-15      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.                                             | Birch Grove CLO 4 Ltd                                                            | CUSIP: 09077CAQ5<br>LEI: 254900VS6E4BD1HWHW18 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001378.00   | 0.01%             | 2037-07-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Cascade Funding Mortgage Trust                                   | CFMT 2024-R1 LLC                                                                 | CUSIP: 12530YAA7<br>LEI: 984500D67D63D8645054 | Long             | ABS-MBS          | CORP              | US        |      3430398 | PA      | $3365810.27   | 0.02%             | 2054-10-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| STENA INTERNATIONAL SA                                           | Stena International SA                                                           | CUSIP: 85858EAE3<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |      2736000 | PA      | $2804413.68   | 0.02%             | 2031-02-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | Santander Consumo 10 FT                                                          | CUSIP: 000000000<br>LEI: 9845003Q6DEF3R087B56 | Long             | ABS-O            | CORP              | ES        |      1800000 | PA      | $2115784.77   | 0.01%             | 2041-05-22      | Floating      | 4.14%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD CHF                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-71198.65    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2024-2                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |       710000 | PA      | $967659.76    | 0.01%             | 2032-07-15      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                              | COMM 2025-SBX Mortgage Trust                                                     | CUSIP: 20047UAC0<br>LEI: 5493004GWEVMOU8S3L34 | Long             | ABS-MBS          | CORP              | US        |      3731000 | PA      | $3703421.57   | 0.02%             | 2041-08-10      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-3                                                | CUSIP: 92540MAA3<br>LEI: 2138005NRONUFED1TZ38 | Long             | ABS-MBS          | CORP              | US        |      1853689 | PA      | $1873185.13   | 0.01%             | 2069-04-25      | Variable      | 6.34%                 | No            |                  2 | On Loan: No      |
| SHIN KONG LIFE SG PTE                                            | Shin Kong Life Singapore Pte Ltd                                                 | CUSIP: 000000000<br>LEI: 9845008AEF61S9A2LB52 | Long             | DBT              | CORP              | SG        |      1200000 | PA      | $1256671.80   | 0.01%             | 2035-06-26      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Meridian Funding 2025-1 PLC                                      | Meridian Funding 2025-1 PLC                                                      | CUSIP: 000000000<br>LEI: 6354007VNVP2YBYBAX64 | Long             | ABS-MBS          | CORP              | GB        |       497000 | PA      | $676061.32    | 0.00%             | 2068-02-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| WHARF Commercial Mortgage Trust                                  | WHARF Commercial Mortgage Trust 2025-DC                                          | CUSIP: 92987LAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2897000 | PA      | $2973686.49   | 0.02%             | 2040-07-15      | Variable      | 7.98%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2026-NQM1 Trust                                                              | CUSIP: 55287YAF0<br>LEI: 254900T233AM4RM23465 | Long             | ABS-MBS          | CORP              | US        |      9734271 | PA      | $9704978.58   | 0.06%             | 2071-02-25      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: OIS 1.617860 17-JUN-2031 THO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1166119301 | OU      | $-152873.42   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Mortimer BTL Plc                                                 | Mortimer 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800PI5SCJ8WPLJX58 | Long             | ABS-MBS          | CORP              | GB        |       353000 | PA      | $481491.23    | 0.00%             | 2070-09-22      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Elm CLO Ltd                                                      | ELM Trust 2024-ELM                                                               | CUSIP: 26860XAA9<br>LEI: 254900IIXJ23M1M8Y987 | Long             | ABS-MBS          | CORP              | US        |      3320000 | PA      | $3322162.98   | 0.02%             | 2039-06-10      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| DBGS Mortgage Trust                                              | DBGS 2024-SBL                                                                    | CUSIP: 23306QAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7820000 | PA      | $7815112.50   | 0.05%             | 2034-08-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                           | ISHARES IBOXX USD INVESTMENT G                                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |        -2896 | NC      | $-31030.35    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| NRP Mortgage Trust                                               | NRP Mortgage Trust 2013-1                                                        | CUSIP: 62942KAZ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10921364 | PA      | $9985173.91   | 0.06%             | 2043-07-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Golden Ray S.A.                                                  | Golden Ray SA Compartment 2                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       500000 | PA      | $586506.78    | 0.00%             | 2058-12-27      | Floating      | 3.07%                 | No            |                  2 | On Loan: No      |
| OHA Loan Funding Ltd                                             | OHA Loan Funding 2015-1 Ltd                                                      | CUSIP: 67109BDS0<br>LEI: 25490072LQI0R2J4XC93 | Long             | ABS-CBDO         | CORP              | KY        |       500000 | PA      | $501853.90    | 0.00%             | 2038-10-19      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.510000 21-AUG-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     42636920 | OU      | $-24014.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                                         | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAG3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3300000 | PA      | $3410332.20   | 0.02%             | 2029-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Fair Oaks Loan Funding                                           | Fair Oaks Loan Funding III DAC                                                   | CUSIP: 000000000<br>LEI: 6354002R5DADYSJADR44 | Long             | ABS-CBDO         | CORP              | IE        |      1160000 | PA      | $1360402.62   | 0.01%             | 2034-10-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| Mortimer BTL Plc                                                 | Mortimer 2024-Mix PLC                                                            | CUSIP: 000000000<br>LEI: 213800F12CZ391USLI51 | Long             | ABS-MBS          | CORP              | GB        |      1007076 | PA      | $1371362.16   | 0.01%             | 2067-09-22      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| AUSNET SERVICES HOLDINGS                                         | AusNet Services Holdings Pty Ltd                                                 | CUSIP: 000000000<br>LEI: TTMIG9TE1S0X3ZPDHD61 | Long             | SN               | CORP              | AU        |      2170000 | PA      | $1544841.09   | 0.01%             | 2056-02-04      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| LEX Trust                                                        | LEX Trust 2026-450                                                               | CUSIP: 501970AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4900000 | PA      | $4853075.25   | 0.03%             | 2043-03-15      | Floating      | 7.35%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2017-V Ltd                                                          | CUSIP: 12551MAL3<br>LEI: 635400BTAKRBKGRV3X14 | Long             | ABS-CBDO         | CORP              | KY        |      4170000 | PA      | $4174832.61   | 0.02%             | 2037-07-17      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                                     | SM Energy Co                                                                     | CUSIP: 78454LAZ3<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |      3260000 | PA      | $3305069.50   | 0.02%             | 2034-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED USD / SOLD UYU                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |            1 | NC      | $62371.12     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MARRIOTT OWNERSHIP RESOR                                         | Marriott Ownership Resorts Inc                                                   | CUSIP: 57164PAK2<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |      3233000 | PA      | $3108674.34   | 0.02%             | 2033-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Elm CLO Ltd                                                      | ELM Trust 2024-ELM                                                               | CUSIP: 26860XAU5<br>LEI: 254900IIXJ23M1M8Y987 | Long             | ABS-MBS          | CORP              | US        |      3690000 | PA      | $3692404.04   | 0.02%             | 2039-06-10      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-A                                                 | CUSIP: 64035DAE6<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      3869000 | PA      | $3496134.80   | 0.02%             | 2062-04-20      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Egypt Government International Bonds                             | Egypt Government International Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      3284000 | PA      | $3465129.02   | 0.02%             | 2030-02-04      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ALLWYN ENTERTAINMENT FIN                                         | Allwyn Entertainment Financing UK PLC                                            | CUSIP: 000000000<br>LEI: 315700J7ZTIN8XGCX365 | Long             | DBT              | CORP              | GB        |      8472000 | PA      | $9643447.44   | 0.06%             | 2031-02-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                   | CUSIP: 61748UAR3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     10248000 | PA      | $10143487.51  | 0.06%             | 2030-01-09      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| MINEJESA CAPITAL BV                                              | Minejesa Capital BV                                                              | CUSIP: 602736AB6<br>LEI: 549300KS7ERCP10BKC35 | Long             | DBT              | CORP              | NL        |       722000 | PA      | $699062.06    | 0.00%             | 2037-08-10      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2025-2 DAC                                             | CUSIP: 000000000<br>LEI: 635400FJ7YX914D6HX74 | Long             | ABS-O            | CORP              | IE        |       100000 | PA      | $117298.42    | 0.00%             | 2035-10-18      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| National RMBS Trust                                              | National RMBS Trust 2026-1                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      3900000 | PA      | $2794552.86   | 0.02%             | 2057-10-20      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                                     | CaixaBank SA                                                                     | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |      2600000 | PA      | $3333751.94   | 0.02%             | 2030-01-16      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                                      | Chemours Co/The                                                                  | CUSIP: 163851AL2<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |      2874000 | PA      | $2939007.01   | 0.02%             | 2034-03-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2020-C                                 | CUSIP: 63941KAC9<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |      1415852 | PA      | $1429076.91   | 0.01%             | 2068-11-15      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Vasco Finance                                                    | TAGUS-Sociedade de Titularizacao de Creditos SA/Vasco Finance No. 3              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |       100000 | PA      | $117194.09    | 0.00%             | 2043-10-27      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| ITELYUM REGENERATION SPA                                         | Itelyum Regeneration Spa                                                         | CUSIP: 000000000<br>LEI: 815600051FBC23AA8A45 | Long             | DBT              | CORP              | IT        |     15414000 | PA      | $18229505.79  | 0.11%             | 2030-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                            | Caesars Entertainment Inc                                                        | CUSIP: 12769GAB6<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |        80000 | PA      | $81216.29     | 0.00%             | 2030-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | Csmc 2021-Nqm6 Trust                                                             | CUSIP: 12662KAA7<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      4908322 | PA      | $4228648.73   | 0.03%             | 2066-07-25      | Variable      | 1.17%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.686000 18-MAR-2031 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     47115130 | OU      | $109925.68    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Merit                                                            | MHP 2021-STOR                                                                    | CUSIP: 55293BAH8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       215000 | PA      | $214865.63    | 0.00%             | 2038-07-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| harvest commercial capital loan trust                            | Harvest Commercial Capital Loan Trust 2024-1                                     | CUSIP: 417927AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2313681 | PA      | $2353517.02   | 0.01%             | 2056-10-25      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD PHP                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $1862555.24   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO XXII Ltd                                                        | CUSIP: 09629PAE6<br>LEI: 549300NUS8PQQUZMPR50 | Long             | ABS-CBDO         | CORP              | KY        |      1250000 | PA      | $1252955.63   | 0.01%             | 2031-07-15      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2021-NQM4 Trust                                                             | CUSIP: 36168HAA2<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |      2133677 | PA      | $1804280.75   | 0.01%             | 2066-08-25      | Variable      | 1.09%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                          | United Rentals North America Inc                                                 | CUSIP: 911365BG8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |      7355000 | PA      | $7342000.77   | 0.04%             | 2028-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer III, LLC                              | Compass Datacenters Issuer III LLC                                               | CUSIP: 20469BAF4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5136000 | PA      | $5087704.65   | 0.03%             | 2056-02-25      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| VDK Groep BV                                                     | VDK Groep BV EUR Term Loan B                                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | NL        |      1300000 | PA      | $1535280.50   | 0.01%             | 2032-02-23      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                 | PURCHASED USD / SOLD CNH                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |            1 | NC      | $915.81       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BAYER AG                                                         | Bayer AG                                                                         | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |       700000 | PA      | $825584.14    | 0.00%             | 2082-03-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                                   | CarVal CLO II Ltd                                                                | CUSIP: 14686AAY5<br>LEI: 254900BP8W72BUIJ5588 | Long             | ABS-CBDO         | CORP              | KY        |       743895 | PA      | $743962.38    | 0.00%             | 2032-04-20      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Sapphire Trust                                                   | SAPPHIRE XXXIII SERIES 2025-2 TRUST                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      1450000 | PA      | $1040180.06   | 0.01%             | 2067-02-12      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2025-NQM6 Trust                                                             | CUSIP: 36831QAC5<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |      9729904 | PA      | $9678791.01   | 0.06%             | 2070-10-25      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                   | Rocket Cos Inc                                                                   | CUSIP: 77311WAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1889000 | PA      | $1952517.63   | 0.01%             | 2032-02-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| TREVA Equipment Finance                                          | TREVA Equipment Finance SA - Compartment 2024-1                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |        49135 | PA      | $57685.70     | 0.00%             | 2035-01-20      | Floating      | 2.90%                 | No            |                  2 | On Loan: No      |
| MUANGTHAI CAPITAL PCL                                            | Muangthai Capital PCL                                                            | CUSIP: 000000000<br>LEI: 254900ZI1FO2W9132C98 | Long             | DBT              | CORP              | TH        |      4500000 | PA      | $4522680.00   | 0.03%             | 2028-09-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                         | Hess Midstream Operations LP                                                     | CUSIP: 428102AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       176000 | PA      | $177729.55    | 0.00%             | 2028-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | USD P ZAR C @16.30000 EO                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |    -40802000 | OU      | $-81726.41    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CONSTELLIUM SE                                                   | Constellium SE                                                                   | CUSIP: 21039CAB0<br>LEI: 724500KRJEMC79KAAU28 | Long             | DBT              | CORP              | FR        |       313000 | PA      | $301858.58    | 0.00%             | 2029-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2026-1                                                    | CUSIP: 52603KAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       561000 | PA      | $560814.31    | 0.00%             | 2035-11-20      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| BAT NETHERLANDS FINANCE                                          | BAT Netherlands Finance BV                                                       | CUSIP: 000000000<br>LEI: 2138009B37VJ9VOWAO51 | Long             | DBT              | CORP              | NL        |      3300000 | PA      | $4149252.30   | 0.02%             | 2031-02-16      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                                              | NuStar Logistics LP                                                              | CUSIP: 67059TAE5<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |       899000 | PA      | $902211.23    | 0.01%             | 2027-04-28      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CHILE                                                | Chile Government International Bond                                              | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |       596000 | PA      | $699407.78    | 0.00%             | 2032-01-14      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos Clo XL Ltd                                                                | CUSIP: 03769RAN5<br>LEI: 549300CRPUKFOJKGAT02 | Long             | ABS-CBDO         | CORP              | JE        |      2000000 | PA      | $2004280.20   | 0.01%             | 2037-07-15      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| CAIXABANK SA                                                     | CaixaBank SA                                                                     | CUSIP: 000000000<br>LEI: 7CUNS533WID6K7DGFI87 | Long             | DBT              | CORP              | ES        |      7000000 | PA      | $8335438.86   | 0.05%             | 2036-08-08      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Turquoise V Trust                                                | TURQUOISE V TRUST SERIES 2026-1 TRUST                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |       950000 | PA      | $680589.47    | 0.00%             | 2067-06-12      | Floating      | 5.93%                 | No            |                  2 | On Loan: No      |
| A10 Securitization                                               | A10 2025-FL6 Issuer LLC                                                          | CUSIP: 00028AAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      8388000 | PA      | $8382021.87   | 0.05%             | 2042-05-15      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| Castell                                                          | Castell 2025-1 PLC                                                               | CUSIP: 000000000<br>LEI: 2138002O8DSFIQGKRU14 | Long             | ABS-MBS          | CORP              | GB        |       120999 | PA      | $167135.76    | 0.00%             | 2062-01-27      | Floating      | 7.24%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2110000 | PA      | $2108531.44   | 0.01%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALCOA NEDERLAND HOLDING                                          | Alcoa Nederland Holding BV                                                       | CUSIP: 013822AG6<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |       200000 | PA      | $194370.73    | 0.00%             | 2029-03-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Aurium CLO                                                       | Aurium CLO VII DAC                                                               | CUSIP: 000000000<br>LEI: 549300V2IBKMYWMKX423 | Long             | ABS-CBDO         | CORP              | IE        |       720000 | PA      | $846714.61    | 0.01%             | 2038-10-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2026-1 PLC                                                               | CUSIP: 000000000<br>LEI: 213800DMUJ69B2MVV386 | Long             | ABS-MBS          | CORP              | GB        |      1945965 | PA      | $2644286.02   | 0.02%             | 2070-06-27      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO XVI, LTD.                                       | Sixth Street CLO XIX Ltd                                                         | CUSIP: 83012KAQ0<br>LEI: 2549009LM706L5P4IH84 | Long             | ABS-CBDO         | CORP              | KY        |       500000 | PA      | $502138.65    | 0.00%             | 2038-07-17      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2023-6                                                | CUSIP: 92539XAF1<br>LEI: 984500915DDB7T2ACA27 | Long             | ABS-MBS          | CORP              | US        |      3450000 | PA      | $3455151.20   | 0.02%             | 2068-09-25      | Variable      | 7.76%                 | No            |                  2 | On Loan: No      |
| Together Asset Backed Securitisation                             | Together Asset Backed Securitisation 2025-2nd1 PLC                               | CUSIP: 000000000<br>LEI: 635400YLGUIWG9EKBV27 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $136780.25    | 0.00%             | 2056-09-12      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AJ0<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |       300000 | PA      | $289522.89    | 0.00%             | 2029-05-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| 1011778 BC / NEW RED FIN                                         | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAH2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      2800000 | PA      | $2747900.88   | 0.02%             | 2028-01-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Colony American Finance Ltd                                      | CAFL 2024-RTL1 Issuer LLC                                                        | CUSIP: 12770DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $3019126.20   | 0.02%             | 2031-11-28      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED NGN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | NG        |            1 | NC      | $376196.12    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HCA INC                                                          | HCA Inc                                                                          | CUSIP: 404119BX6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      3310000 | PA      | $3265498.01   | 0.02%             | 2029-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED TRY / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | TR        |            1 | NC      | $267236.71    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                                   | Upgrade Master Pass-Thru Trust Series 2025-ST4                                   | CUSIP: 91533MAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1307137 | PA      | $1309328.72   | 0.01%             | 2032-08-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | FSWP: OIS 9.540000 17-DEC-2027 IBR                                               | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |  58337438640 | OU      | $-658716.78   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 113 CLO Ltd                                                               | CUSIP: 26253EBK3<br>LEI: 254900XN9Y85HJGYJ219 | Long             | ABS-CBDO         | CORP              | JE        |      3000000 | PA      | $2999514.90   | 0.02%             | 2037-10-15      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                               | Energy Transfer LP                                                               | CUSIP: 29273VBC3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      2207000 | PA      | $2265986.49   | 0.01%             | 2054-10-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| OLIN CORP                                                        | Olin Corp                                                                        | CUSIP: 680665AL0<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |      1162000 | PA      | $1154192.75   | 0.01%             | 2029-08-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX 2024-PALM                                                                     | CUSIP: 05612UAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9162692 | PA      | $9162916.79   | 0.05%             | 2037-06-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| SC GERMANY CONSUMER                                              | SC Germany SA Compartment Consumer 2025-2                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |      3800000 | PA      | $4473730.08   | 0.03%             | 2038-12-15      | Floating      | 2.95%                 | No            |                  2 | On Loan: No      |
| DK Trust 2025-LXP                                                | DK Trust 2025-LXP                                                                | CUSIP: 23292LAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8303000 | PA      | $8310732.58   | 0.05%             | 2037-08-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                                              | Sound Point CLO XXV Ltd                                                          | CUSIP: 83614DAU9<br>LEI: 549300UPX3H8ENJXHI23 | Long             | ABS-CBDO         | CORP              | KY        |       743966 | PA      | $744357.00    | 0.00%             | 2033-04-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                                             | SCG Commercial Mortgage Trust 2025-FLWR                                          | CUSIP: 78438AAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1259000 | PA      | $1248795.81   | 0.01%             | 2042-08-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| Noria                                                            | FCT Noria 2025                                                                   | CUSIP: 000000000<br>LEI: 5493003C5ECZD3NDSV63 | Long             | ABS-O            | CORP              | FR        |       100000 | PA      | $117293.49    | 0.00%             | 2043-07-25      | Floating      | 3.37%                 | No            |                  2 | On Loan: No      |
| Castell                                                          | Castell 2025-1 PLC                                                               | CUSIP: 000000000<br>LEI: 2138002O8DSFIQGKRU14 | Long             | ABS-MBS          | CORP              | GB        |        59953 | PA      | $81869.22     | 0.00%             | 2062-01-27      | Floating      | 7.89%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                                     | SM Energy Co                                                                     | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |      2165000 | PA      | $2220848.34   | 0.01%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                         | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1026000 | PA      | $1019191.68   | 0.01%             | 2029-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| AMBER FINCO PLC                                                  | Amber Finco PLC                                                                  | CUSIP: 000000000<br>LEI: 9845004C0870D380O790 | Long             | DBT              | CORP              | GB        |      9425000 | PA      | $11437408.29  | 0.07%             | 2029-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| VALARIS LTD                                                      | Valaris Ltd                                                                      | CUSIP: 91889FAC5<br>LEI: 5299008BQ9IREYWBTS30 | Long             | DBT              | CORP              | BM        |      3948000 | PA      | $4116852.01   | 0.02%             | 2030-04-30      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ASTON MARTIN CAPITAL HOL                                         | Aston Martin Capital Holdings Ltd                                                | CUSIP: 000000000<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |      7522000 | PA      | $8181180.57   | 0.05%             | 2029-03-31      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| SWORD PURCHASER LLC                                              | Sword Purchaser LLC                                                              | CUSIP: 87110CAA5<br>LEI: 254900S0VY2QTAITBR94 | Long             | DBT              | CORP              | US        |      2597000 | PA      | $2642513.07   | 0.02%             | 2034-04-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: —       |
| Diameter Capital CLO                                             | Diameter Capital Clo 3 Ltd                                                       | CUSIP: 25255JAL1<br>LEI: 254900L1QJX98W5ORK78 | Long             | ABS-CBDO         | CORP              | KY        |      7000000 | PA      | $7015391.60   | 0.04%             | 2038-01-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                      | RAD CLO 28 Ltd                                                                   | CUSIP: 75009UAJ5<br>LEI: 254900F50S9DCHTOVI65 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $750194.40    | 0.00%             | 2038-04-20      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| BMP Trust                                                        | BMP 2024-MF23                                                                    | CUSIP: 05593JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6555000 | PA      | $6555000.00   | 0.04%             | 2041-06-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2025-3 PLC                                                               | CUSIP: 000000000<br>LEI: 2138004HHDTEKA2ZLF42 | Long             | ABS-MBS          | CORP              | GB        |       689000 | PA      | $941490.54    | 0.01%             | 2069-10-27      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Auto ABS                                                         | Auto Abs Spanish Loans 2026-1                                                    | CUSIP: 000000000<br>LEI: 9598007ZVMKDJKZFAC54 | Long             | ABS-O            | CORP              | ES        |       300000 | PA      | $353033.59    | 0.00%             | 2038-12-28      | Floating      | 3.78%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                                                | Trimaran CAVU 2022-2 Ltd                                                         | CUSIP: 89625BAN3<br>LEI: 549300JHXVOIVLAKRV03 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004139.60   | 0.01%             | 2038-03-27      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                                              | Travel + Leisure Co                                                              | CUSIP: 98310WAN8<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |       150000 | PA      | $150204.60    | 0.00%             | 2027-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AGL CLO 6 LTD                                                    | AGL CLO 6 LTD                                                                    | CUSIP: 00119VAY5<br>LEI: 5493008ZSC34VKNPZN79 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2005299.40   | 0.01%             | 2038-04-20      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK HOLDCO 4 LIMITED                                      | VMED O2 UK Holdco 4 Limited 2025 EUR Term Loan AE                                | CUSIP: 000000000<br>LEI: 213800ZRKYXK2SHQOW75 | Long             | LON              | CORP              | GB        |      1500000 | PA      | $1649811.10   | 0.01%             | 2033-01-31      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                         | Permian Resources Operating LLC                                                  | CUSIP: 19416MAB5<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |      1236000 | PA      | $1237002.40   | 0.01%             | 2029-07-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                                          | Light & Wonder International Inc                                                 | CUSIP: 80874YBE9<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |       367000 | PA      | $375361.73    | 0.00%             | 2029-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2021-C                                          | CUSIP: 83208AAE3<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       639546 | PA      | $624313.26    | 0.00%             | 2053-01-15      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Issuer Trust 2025-2                                    | CUSIP: 39571VAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       690000 | PA      | $687851.00    | 0.00%             | 2060-06-25      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.695000 04-JAN-2027 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      8431781 | OU      | $9924.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                              | Affirm Master Trust                                                              | CUSIP: 00833KAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5313000 | PA      | $5314844.14   | 0.03%             | 2035-04-16      | Fixed         | 4.67%                 | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2026-1                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |      1285000 | PA      | $922684.37    | 0.01%             | 2034-03-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| ROYAL BANK OF CANADA                                             | Royal Bank of Canada                                                             | CUSIP: 000000000<br>LEI: ES7IP3U3RHIGC71XBU11 | Long             | DBT              | CORP              | CA        |      7100000 | PA      | $8290992.56   | 0.05%             | 2031-01-22      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                         | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |      1000000 | PA      | $1110565.25   | 0.01%             | 2030-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                          | NYMT Loan Trust 2026-INV1                                                        | CUSIP: 62957GAM9<br>LEI: 254900Y31NJCJWYHMA05 | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $981851.50    | 0.01%             | 2061-02-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                        | Block Inc                                                                        | CUSIP: 852234AN3<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |      2452000 | PA      | $2445473.76   | 0.01%             | 2026-06-01      | Fixed         | 2.75%                 | No            |                  2 | On Loan: —       |
| PHILIPPINE GOVERNMENT                                            | Philippine Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   1115910000 | PA      | $17447902.25  | 0.10%             | 2035-04-28      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM1                         | CUSIP: 617932AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2207327 | PA      | $2227823.84   | 0.01%             | 2069-11-25      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                | Iron Mountain Inc                                                                | CUSIP: 46284VAP6<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      3706000 | PA      | $3787331.88   | 0.02%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 7 Ltd                                                                         | CUSIP: 74980EAW8<br>LEI: 549300V317BEVFPNAZ66 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1000000.00   | 0.01%             | 2037-01-15      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BJ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10230000 | PA      | $10062562.62  | 0.06%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BBVA Consumo FTA                                                 | Bbva Consumer 2026-1 Fondo de Titulizacion                                       | CUSIP: 000000000<br>LEI: 9598008ZNM97MVXBD120 | Long             | ABS-O            | CORP              | ES        |      1700000 | PA      | $1992921.95   | 0.01%             | 2039-05-20      | Floating      | 2.96%                 | No            |                  2 | On Loan: No      |
| NEWBRIDGE PARK CLO                                               | Newbridge Park CLO DAC                                                           | CUSIP: 000000000<br>LEI: 635400MHBRLQFZ1CYD71 | Long             | ABS-CBDO         | CORP              | IE        |      3400000 | PA      | $3932270.27   | 0.02%             | 2040-04-15      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| Boluda Towage SL                                                 | Boluda Towage SL 2024 EUR Term Loan B                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | ES        |      1000000 | PA      | $1182745.47   | 0.01%             | 2030-01-31      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2025-NQM3                                    | CUSIP: 36274TAE9<br>LEI: 2549007JKCA9H9HUGZ71 | Long             | ABS-MBS          | CORP              | US        |      1475040 | PA      | $1473873.10   | 0.01%             | 2065-11-25      | Fixed         | 6.87%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2024-NQM14 Trust                                                             | CUSIP: 67119XAC8<br>LEI: 254900C7ZCEHM7Y5MX79 | Long             | ABS-MBS          | CORP              | US        |      2302626 | PA      | $2301080.50   | 0.01%             | 2064-09-25      | Variable      | 4.94%                 | No            |                  2 | On Loan: No      |
| WRANGLER HOLDCO CORP                                             | Wrangler Holdco Corp                                                             | CUSIP: 37441QAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       116000 | PA      | $119667.69    | 0.00%             | 2032-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2015-1                                       | CUSIP: 64829CAA6<br>LEI: 549300RCJSGOC0A85G53 | Long             | ABS-MBS          | CORP              | US        |        31845 | PA      | $30677.06     | 0.00%             | 2052-05-28      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| STAR PARENT INC                                                  | Star Parent Inc                                                                  | CUSIP: 855170AA4<br>LEI: 254900GRGCJYRMDRWT73 | Long             | DBT              | CORP              | US        |       190000 | PA      | $199035.26    | 0.00%             | 2030-10-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| PGA National Resort Commercial Mortgage Trust                    | PGA Trust 2024-RSR2                                                              | CUSIP: 69381CAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8463000 | PA      | $8460355.31   | 0.05%             | 2039-06-15      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| BIFFA GROUP HOLDINGS LTD                                         | Biffa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 21380012LWLXNMXB8I44 | Long             | DBT              | CORP              | JE        |      4795000 | PA      | $6523483.29   | 0.04%             | 2031-06-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2018-III Ltd                                                        | CUSIP: 12551YAN3<br>LEI: 635400OB7ZCBUWDQNV87 | Long             | ABS-CBDO         | CORP              | KY        |       640000 | PA      | $643172.48    | 0.00%             | 2038-10-18      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2025-3                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |       500000 | PA      | $357815.24    | 0.00%             | 2033-09-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HJSS7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3088337 | PA      | $3132630.03   | 0.02%             | 2055-02-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| GAMMA Sociedade de Titularizacao de Creditos                     | GAMMA Sociedade de Titularizacao de Creditos                                     | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |       587169 | PA      | $692298.85    | 0.00%             | 2034-02-25      | Floating      | 2.93%                 | No            |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte Ltd                          | SEAGATE DATA STORAGE TECH                                                        | CUSIP: 81180LAR6<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |       130000 | PA      | $144575.86    | 0.00%             | 2032-12-01      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAC2<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |       790000 | PA      | $785611.40    | 0.00%             | 2031-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MVM ENERGETIKA ZRT                                               | MVM Energetika Zrt                                                               | CUSIP: 000000000<br>LEI: 529900ELI5AQ9F74PF85 | Long             | DBT              | CORP              | HU        |     13445000 | PA      | $14090360.00  | 0.08%             | 2028-06-09      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                                           | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAC7<br>LEI: N/A                  | Long             | DBT              |  | US        |       244000 | PA      | $237349.18    | 0.00%             | 2029-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.720000 17-SEP-2027 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     31548237 | OU      | $16653.22     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                            | Wells Fargo & Co                                                                 | CUSIP: 000000000<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     11321000 | PA      | $13438038.28  | 0.08%             | 2032-07-22      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      2343367 | PA      | $1804392.59   | 0.01%             | 2035-06-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.820000 27-MAY-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      8914366 | OU      | $-1509.51     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HFPP4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     17176812 | PA      | $17282002.66  | 0.10%             | 2054-10-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| Boots Group Bidco Ltd                                            | Boots Group Bidco Ltd EUR Term Loan                                              | CUSIP: 000000000<br>LEI: 254900Q2CMXV6QWMW891 | Long             | LON              | CORP              | GB        |      3200000 | PA      | $3785423.98   | 0.02%             | 2032-08-30      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos Clo Lii                                                                   | CUSIP: 03771NAA8<br>LEI: 254900XJH54T9O9TH452 | Long             | ABS-CBDO         | CORP              | KY        |      6975000 | PA      | $6968015.93   | 0.04%             | 2038-04-20      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2019-A                                          | CUSIP: 78449TAC5<br>LEI: 549300WEYOS38NWU8D22 | Long             | ABS-O            | CORP              | US        |       405785 | PA      | $405887.04    | 0.00%             | 2036-07-15      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                   | CUSIP: 629377DC3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |       863000 | PA      | $856624.59    | 0.01%             | 2034-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2026-DSC1                         | CUSIP: 617950AB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9900000 | PA      | $9854671.86   | 0.06%             | 2071-01-25      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| Harriman Park CLO                                                | Harriman Park CLO LTD                                                            | CUSIP: 413717BC2<br>LEI: 549300BI9STOGTECXV18 | Long             | ABS-CBDO         | CORP              | KY        |      1150000 | PA      | $1153006.91   | 0.01%             | 2038-07-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2025-NQM1                                                                   | CUSIP: 26846CAN6<br>LEI: 254900TJEVLCYF1H3X71 | Long             | ABS-MBS          | CORP              | US        |      3387755 | PA      | $3412493.74   | 0.02%             | 2070-01-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                                                  | AREIT 2025-CRE10 Ltd                                                             | CUSIP: 00193DAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     10146000 | PA      | $10132660.04  | 0.06%             | 2029-12-17      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2021-NQM1 Trust                                                              | CUSIP: 67114BAA5<br>LEI: 25490010LUJWFEUCIH44 | Long             | ABS-MBS          | CORP              | US        |      1178908 | PA      | $1050467.07   | 0.01%             | 2066-02-25      | Variable      | 1.07%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                            | Williams Scotsman Inc                                                            | CUSIP: 96949VAM5<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |      4068000 | PA      | $4175484.70   | 0.02%             | 2029-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Sunrise Srl                                                      | Sunrise Spv 98 Srl                                                               | CUSIP: 000000000<br>LEI: 81560036AE47FD868675 | Long             | ABS-O            | CORP              | IT        |      2803000 | PA      | $3291700.76   | 0.02%             | 2051-04-27      | Floating      | 3.02%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: INR 6.440500 18-SEP-2034 INR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    379218960 | OU      | $-84133.85    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: BRL 13.310000 03-JAN-2028 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    216190000 | OU      | $-338038.59   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-GPA3                                           | CUSIP: 123910AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2443334 | PA      | $2447151.43   | 0.01%             | 2039-12-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2024-11                                                 | CUSIP: 03463QAA4<br>LEI: 2549009VFCBSE99NTJ29 | Long             | ABS-MBS          | CORP              | US        |      2518169 | PA      | $2533091.29   | 0.02%             | 2069-08-25      | Variable      | 5.70%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2023-NQM3 Trust                                                              | CUSIP: 67117PAA1<br>LEI: 25490010LUJWFEUCIH44 | Long             | ABS-MBS          | CORP              | US        |      7171191 | PA      | $7149485.78   | 0.04%             | 2063-02-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-4                                    | CUSIP: 92262JAC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1868194 | PA      | $1854676.27   | 0.01%             | 2055-09-25      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAH5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      8179000 | PA      | $8036702.58   | 0.05%             | 2029-05-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Parts Europe SA                                                  | Parts Europe SA 2025 EUR Repriced Term Loan B                                    | CUSIP: 000000000<br>LEI: 969500DL3O9K7T2M4M15 | Long             | LON              | CORP              | FR        |      2000000 | PA      | $2361594.43   | 0.01%             | 2031-02-06      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                                        | Ball Corp                                                                        | CUSIP: 058498AZ9<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |      4883000 | PA      | $4967690.75   | 0.03%             | 2029-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED USD / SOLD MXN                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |            1 | NC      | $33315.03     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OLIN CORP                                                        | Olin Corp                                                                        | CUSIP: 680665AK2<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |       921000 | PA      | $892627.58    | 0.01%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Greystone Commercial Real Estate Notes                           | Greystone CRE Notes 2025-FL4 LLC                                                 | CUSIP: 39810MAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      4069000 | PA      | $4073760.73   | 0.02%             | 2043-01-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| INDIA CLEANTECH ENERGY                                           | India Cleantech Energy                                                           | CUSIP: 000000000<br>LEI: 254900DGTS4HHR3Q6F66 | Long             | DBT              | CORP              | MU        |      1977000 | PA      | $1969586.25   | 0.01%             | 2026-08-10      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                                             | IHO Verwaltungs GmbH                                                             | CUSIP: 000000000<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |      7140000 | PA      | $8862611.53   | 0.05%             | 2031-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| KASPI.KZ JSC                                                     | JSC Kaspi.kz                                                                     | CUSIP: 466281AA0<br>LEI: 2549003YU6FARG8OAZ13 | Long             | DBT              | CORP              | KZ        |      3583000 | PA      | $3627787.50   | 0.02%             | 2030-03-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BOEING CO                                                        | Boeing Co/The                                                                    | CUSIP: 097023BU8<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     12385000 | PA      | $12233764.66  | 0.07%             | 2027-03-01      | Fixed         | 2.80%                 | No            |                  2 | On Loan: —       |
| CRESCENT ENERGY FINANCE                                          | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |      3392000 | PA      | $3471552.58   | 0.02%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ION PLATFORM FINANCE SAR                                         | ION Platform Finance SARL                                                        | CUSIP: 000000000<br>LEI: 6488IU1F9M51Z3P60R77 | Long             | DBT              | CORP              | LU        |     10515000 | PA      | $10295436.40  | 0.06%             | 2030-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GRIFOLS SA                                                       | Grifols SA                                                                       | CUSIP: 000000000<br>LEI: 959800HSSNXWRKBK4N60 | Long             | DBT              | CORP              | ES        |      9965000 | PA      | $12145169.75  | 0.07%             | 2030-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | XX        |            1 | NC      | $862449.15    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |       100000 | PA      | $117673.90    | 0.00%             | 2028-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2025-NQM4 Trust                                                              | CUSIP: 55287RAC2<br>LEI: 254900XBKB8JES2BO797 | Long             | ABS-MBS          | CORP              | US        |     18130605 | PA      | $18142980.90  | 0.11%             | 2070-08-25      | Variable      | 5.23%                 | No            |                  2 | On Loan: No      |
| OHA Loan Funding Ltd                                             | OHA Loan Funding 2016-1 Ltd                                                      | CUSIP: 67110UAW9<br>LEI: 54930016024GMIAF7A82 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250394.58    | 0.00%             | 2037-07-20      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| EverBank Mortgage Loan Trust                                     | EverBank Mortgage Loan Trust                                                     | CUSIP: 29977JAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       129995 | PA      | $119629.87    | 0.00%             | 2043-03-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.097000 17-DEC-2030 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     23589025 | OU      | $115977.04    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2023-1                                          | CUSIP: 68269JAH4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       595000 | PA      | $622393.56    | 0.00%             | 2038-06-14      | Fixed         | 7.49%                 | No            |                  2 | On Loan: No      |
| Asimi Funding Holdings Limited                                   | Asimi Funding 2025-1 PLC                                                         | CUSIP: 000000000<br>LEI: 6354002PZBGQEXUI2V51 | Long             | ABS-O            | CORP              | GB        |        58011 | PA      | $79278.31     | 0.00%             | 2032-05-16      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF GABON                                                | Gabon Government International Bond                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | GA        |     10597000 | PA      | $9961180.00   | 0.06%             | 2029-02-18      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAE8<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |      1646000 | PA      | $1623805.67   | 0.01%             | 2032-03-31      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2024-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400IRBWDPWKGK1C24 | Long             | ABS-O            | CORP              | GB        |       118000 | PA      | $160854.28    | 0.00%             | 2031-08-20      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS CARDIF                                               | BNP Paribas Cardif SA                                                            | CUSIP: 000000000<br>LEI: 969500VRSFWX7S1P2M29 | Long             | DBT              | CORP              | FR        |     21800000 | PA      | $25388042.62  | 0.15%             | 2035-11-07      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                   | AUD P USD C @0.680000 EO                                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | US        |    -33420000 | OU      | $-71316.02    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| VANTAGE DATA CENTERS GERMANY BORROWER LUX S.A R.L.               | Vantage Data Centers Germany Borrower Lux Sarl                                   | CUSIP: 000000000<br>LEI: 2549008VW14T3IH21H24 | Long             | ABS-O            | CORP              | LU        |       597000 | PA      | $694257.04    | 0.00%             | 2050-06-28      | Fixed         | 4.29%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BVN46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4765264 | PA      | $4844881.10   | 0.03%             | 2055-05-25      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| U.S. Bank National Association                                   | US Bank NA                                                                       | CUSIP: 90355PAJ5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6405739 | PA      | $6342326.83   | 0.04%             | 2046-12-25      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                                                   | Brink's Co/The                                                                   | CUSIP: 109696AD6<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |       458000 | PA      | $469873.19    | 0.00%             | 2032-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Kennedy Lewis CLO Ltd                                            | Kennedy Lewis CLO 13 Ltd                                                         | CUSIP: 488930AA6<br>LEI: 549300OHYOREA2V0F579 | Long             | ABS-CBDO         | CORP              | JE        |     18200000 | PA      | $18187079.82  | 0.11%             | 2038-01-20      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| FEDERAL REP OF ETHIOPIA                                          | Ethiopia International Bond                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | ET        |      3252000 | PA      | $3333300.00   | 0.02%             | 2024-12-11      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: OIS 6.508200 17-JUN-2031 INR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1823857144 | OU      | $-120964.41   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2025-II Ltd                                                         | CUSIP: 17181DAA4<br>LEI: 549300O8WGQU5B6HEB94 | Long             | ABS-CBDO         | CORP              | KY        |      1300000 | PA      | $1298772.28   | 0.01%             | 2038-04-15      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| PLATIN2025 HOLDINGS SARL                                         | PLATIN2025 HOLDINGS SARL 2026 EUR TERM LOAN B                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | LU        |      3900000 | PA      | $4588676.86   | 0.03%             | 2032-12-29      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans 2024-1 SRL                                         | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |       229288 | PA      | $270172.76    | 0.00%             | 2036-12-29      | Floating      | 3.20%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                                                  | AREIT 2023-CRE8 Ltd                                                              | CUSIP: 04002BAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | BM        |        28956 | PA      | $28945.16     | 0.00%             | 2041-08-17      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| National RMBS Trust                                              | National RMBS Trust 2026-1                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      1500000 | PA      | $1077301.05   | 0.01%             | 2057-10-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                                | Rakuten Group Inc                                                                | CUSIP: 000000000<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |      6853000 | PA      | $7852284.27   | 0.05%             | 2027-04-22      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2025-4                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |      9936616 | PA      | $7141921.17   | 0.04%             | 2034-04-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| KEPPEL REIT                                                      | Keppel REIT                                                                      | CUSIP: 000000000<br>LEI: 549300ZD5HZLQCF55J25 | Long             | DBT              |  | SG        |      2500000 | PA      | $1980913.14   | 0.01%             | 2028-08-11      | Fixed         | 3.78%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                                    | Ballyrock CLO 15 Ltd                                                             | CUSIP: 05875TAJ6<br>LEI: 254900DRHPTI08KKW784 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250557.95    | 0.00%             | 2038-01-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                 | Symphony CLO 44 Ltd                                                              | CUSIP: 871973AA1<br>LEI: 213800MRCL5WD4V7W689 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $997370.90    | 0.01%             | 2037-07-14      | Floating      | 9.82%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                              | Affirm Master Trust                                                              | CUSIP: 00833BAU2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6026000 | PA      | $5996508.15   | 0.04%             | 2034-02-15      | Fixed         | 4.37%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BTYT4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7587991 | PA      | $7668829.30   | 0.05%             | 2054-12-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2019-NQM3 Trust                                                             | CUSIP: 36167VAA2<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |       748591 | PA      | $735933.42    | 0.00%             | 2059-11-25      | Variable      | 3.69%                 | No            |                  2 | On Loan: No      |
| FORTUNE STAR BVI LTD                                             | Fortune Star BVI Ltd                                                             | CUSIP: 000000000<br>LEI: 2549008CU8NYQQRSNU62 | Long             | DBT              | CORP              | VG        |      5500000 | PA      | $6409242.26   | 0.04%             | 2026-10-02      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                                         | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AR6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2438000 | PA      | $2392123.18   | 0.01%             | 2033-08-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                                           | Rockford Tower CLO 2018-2 Ltd                                                    | CUSIP: 77342KAA8<br>LEI: 5493001SZ764RMCNU069 | Long             | ABS-CBDO         | CORP              | KY        |        28762 | PA      | $28773.70     | 0.00%             | 2031-10-20      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                       | BFLD Commercial Mortgage Trust 2025-5MW                                          | CUSIP: 088921AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4576000 | PA      | $4543531.91   | 0.03%             | 2042-10-10      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                                 | Lamar Media Corp                                                                 | CUSIP: 513075BR1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       161000 | PA      | $157873.88    | 0.00%             | 2028-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-NQM2 Trust                                                             | CUSIP: 693983AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10393125 | PA      | $10449621.05  | 0.06%             | 2070-04-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2019-B                                          | CUSIP: 83192CAB3<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       113001 | PA      | $111030.77    | 0.00%             | 2037-06-15      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| Sycamore Tree CLO Ltd                                            | Sycamore Tree CLO 2023-3 Ltd                                                     | CUSIP: 87122FAS5<br>LEI: 5493000NGQSA68NFD567 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1003697.10   | 0.01%             | 2037-04-20      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2025-INV2                                                                   | CUSIP: 281914AA9<br>LEI: 254900ZO1GLQXE3JWX68 | Long             | ABS-MBS          | CORP              | US        |      7850055 | PA      | $7882381.18   | 0.05%             | 2070-05-26      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-1                                    | CUSIP: 922955AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1759236 | PA      | $1771798.67   | 0.01%             | 2055-02-25      | Variable      | 6.03%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | SWP: OIS 13.425000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |      4039374 | OU      | $-15027.73    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                                              | FS KKR Capital Corp                                                              | CUSIP: 302635AP2<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |      2253000 | PA      | $2183151.41   | 0.01%             | 2030-01-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| Bank of America NA                                               | PURCHASED COP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | CO        |            1 | NC      | $241618.94    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2025-H7 Mortgage Trust                                                     | CUSIP: 22757JAH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2878400 | PA      | $2860564.28   | 0.02%             | 2070-09-25      | Variable      | 7.51%                 | No            |                  2 | On Loan: No      |
| Rockford Tower Europe CLO                                        | Rockford Tower Europe Clo 2025-1 DAC                                             | CUSIP: 000000000<br>LEI: 635400NARJYDXJRPGF02 | Long             | ABS-CBDO         | CORP              | IE        |      1980000 | PA      | $2333276.22   | 0.01%             | 2037-10-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| Residential Mortgage Loan Trust                                  | Residential Mortgage Loan Trust 2020-1                                           | CUSIP: 76119CAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1528000 | PA      | $1423201.81   | 0.01%             | 2060-01-26      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2025-1                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |       576000 | PA      | $414674.72    | 0.00%             | 2033-03-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $1840.36      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BONOS Y OBLIG DEL ESTADO                                         | Spain Government Bond                                                            | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |     16842000 | PA      | $19908216.01  | 0.12%             | 2034-10-31      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans 2024-1 SRL                                         | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |        63691 | PA      | $75251.77     | 0.00%             | 2036-12-29      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| 522 Funding CLO LTD                                              | 522 Funding CLO 2018-3A Ltd                                                      | CUSIP: 33835NAE1<br>LEI: 549300HKB0UTKU91DG08 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250459.78    | 0.00%             | 2031-10-20      | Floating      | 5.99%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                         | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAM8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       476000 | PA      | $475058.76    | 0.00%             | 2033-10-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SCIL IV LLC / SCIL USA H                                         | SCIL IV LLC / SCIL USA Holdings LLC                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2852000 | PA      | $3470627.16   | 0.02%             | 2028-07-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CZK 3.817500 17-DEC-2030 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    145157385 | OU      | $-157089.34   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ARAMARK INTL FINANCE                                             | Aramark International Finance Sarl                                               | CUSIP: 000000000<br>LEI: 5493006HLPNGDDC12P30 | Long             | DBT              | CORP              | LU        |      9965000 | PA      | $11363467.47  | 0.07%             | 2033-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 19 Ltd                                                                        | CUSIP: 74983AAJ2<br>LEI: 549300RJ4N2AJDFNE876 | Long             | ABS-CBDO         | CORP              | KY        |      1630000 | PA      | $1629682.48   | 0.01%             | 2040-04-15      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2024-NQM11 Trust                                                             | CUSIP: 67119EAA4<br>LEI: 254900F5LT8CA1U6PK21 | Long             | ABS-MBS          | CORP              | US        |      1069492 | PA      | $1077749.95   | 0.01%             | 2064-06-25      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                                        | PG&E Corp                                                                        | CUSIP: 69331CAN8<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |      1900000 | PA      | $1899619.43   | 0.01%             | 2056-09-15      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                           | US 10YR ULTRA FUT JUN26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -1452 | NC      | $3667362.11   | 0.02%             |  |  |  | No            |                  1 | On Loan: No      |
| MCR Mortgage Trust                                               | MCR 2024-HTL Mortgage Trust                                                      | CUSIP: 55286PAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1651669 | PA      | $1644226.90   | 0.01%             | 2037-02-15      | Floating      | 7.56%                 | No            |                  2 | On Loan: No      |
| Fulvia SPV SRL                                                   | Fulvia Spv Srl                                                                   | CUSIP: 000000000<br>LEI: 815600283046823DB425 | Long             | ABS-O            | CORP              | IT        |       368860 | PA      | $432165.75    | 0.00%             | 2041-12-23      | Floating      | 3.01%                 | No            |                  2 | On Loan: No      |
| Avenue of Americas                                               | 1301 Trust 2025-AOA                                                              | CUSIP: 682461AN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6445000 | PA      | $6692444.43   | 0.04%             | 2042-08-11      | Variable      | 8.37%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                         | Republic of South Africa Government Bond                                         | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |     28439161 | PA      | $1714476.35   | 0.01%             | 2035-02-28      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                          | NYMT Loan Trust 2024-INV1                                                        | CUSIP: 62956XAA9<br>LEI: 2549009GL7U73W4FX613 | Long             | ABS-MBS          | CORP              | US        |      6151415 | PA      | $6169454.91   | 0.04%             | 2069-06-25      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2021-5                                                  | CUSIP: 03465HAC8<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      1283491 | PA      | $1119719.88   | 0.01%             | 2066-07-25      | Variable      | 1.31%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2024-NQM1                                    | CUSIP: 64828DAE7<br>LEI: 213800TFYSB4XLW7QW74 | Long             | ABS-MBS          | CORP              | US        |      1900000 | PA      | $1918465.91   | 0.01%             | 2064-03-25      | Variable      | 7.91%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.883000 04-JAN-2027 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    158199471 | OU      | $183493.20    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                               | USD P CLP C @890.00 EO                                                           | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | LU        |     -9609000 | OU      | $-82666.23    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                            | Palmer Square CLO 2022-3 Ltd                                                     | CUSIP: 69690AAS6<br>LEI: 5493000CAZ8VWJGUOH13 | Long             | ABS-CBDO         | CORP              | JE        |       250000 | PA      | $250605.60    | 0.00%             | 2037-07-20      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | Lendingclub Rated Notes Issuer Trust Series 2026-P1                              | CUSIP: 52611WAF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       188719 | PA      | $161143.08    | 0.00%             | 2037-08-15      | Fixed         | 0.90%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2019-B                                          | CUSIP: 83192CAD9<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      9155000 | PA      | $8763469.95   | 0.05%             | 2043-06-15      | Fixed         | 3.56%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                                            | TRK 2021-INV1 Trust                                                              | CUSIP: 89688WAA9<br>LEI: 25490023B58UP9CM5N96 | Long             | ABS-MBS          | CORP              | US        |      1925453 | PA      | $1740102.68   | 0.01%             | 2056-07-25      | Variable      | 1.15%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                               | Chase Home Lending Mortgage Trust Series 2024-2                                  | CUSIP: 161929BH6<br>LEI: 529900A7SLLSJMEDIN80 | Long             | ABS-MBS          | CORP              | US        |       968902 | PA      | $971988.71    | 0.01%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| LOWE'S COS INC                                                   | Lowe's Cos Inc                                                                   | CUSIP: 548661DP9<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |     16820000 | PA      | $16662660.00  | 0.10%             | 2027-05-03      | Fixed         | 3.10%                 | No            |                  2 | On Loan: —       |
| AGL CLO Ltd.                                                     | AGL CLO 21 Ltd                                                                   | CUSIP: 00119FAL8<br>LEI: 54930001FXLJVDHJU506 | Long             | ABS-CBDO         | CORP              | JE        |      3000000 | PA      | $3005866.80   | 0.02%             | 2037-10-21      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Peer Holding III BV                                              | Peer Holding III BV 2025 EUR Term Loan B7                                        | CUSIP: 000000000<br>LEI: 7245002S0K5Q59JCVQ03 | Long             | LON              | CORP              | NL        |      2800000 | PA      | $3294796.15   | 0.02%             | 2031-11-26      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Hive BV                                                          | HIVE 2025-1 BV                                                                   | CUSIP: 000000000<br>LEI: 724500W27MWLGM594D53 | Long             | ABS-O            | CORP              | NL        |      7547043 | PA      | $8868719.21   | 0.05%             | 2045-11-21      | Floating      | 2.80%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2023-INV3                                             | CUSIP: 92540CAD9<br>LEI: 9845008F97BFO762AF95 | Long             | ABS-MBS          | CORP              | US        |      1500000 | PA      | $1514468.25   | 0.01%             | 2068-11-25      | Variable      | 8.17%                 | No            |                  2 | On Loan: No      |
| LOXAM SAS                                                        | Loxam SAS                                                                        | CUSIP: 000000000<br>LEI: 969500BNA2YRNE1R5K91 | Long             | DBT              | CORP              | FR        |       900000 | PA      | $1075140.17   | 0.01%             | 2028-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF LATVIA                                               | Latvia Government International Bond                                             | CUSIP: 518417AD2<br>LEI: 25490002QDEB2KTLNK39 | Long             | DBT              | NUSS              | LV        |      1295000 | PA      | $1299441.85   | 0.01%             | 2034-07-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA BUYER/ATLANTI                                         | California Buyer Ltd / Atlantica Sustainable Infrastructure PLC                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |     18356000 | PA      | $21515605.54  | 0.13%             | 2032-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                        | Towd Point Mortgage Trust 2025-CRM1                                              | CUSIP: 891946AA3<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |      4316087 | PA      | $4331918.09   | 0.03%             | 2065-01-25      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2019-C                                 | CUSIP: 63940YAB2<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |       659265 | PA      | $654263.48    | 0.00%             | 2068-02-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Pepper Residential Securities Trust                              | Pepper Residential Securities Trust No. 41                                       | CUSIP: 000000000<br>LEI: 984500E40EDT6B13R494 | Long             | ABS-MBS          | CORP              | AU        |      4490000 | PA      | $3221391.59   | 0.02%             | 2067-07-12      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Bavarian Sky SA                                                  | Bavarian Sky UK 6 PLC                                                            | CUSIP: 000000000<br>LEI: 21380063HOVS4EGBR872 | Long             | ABS-O            | CORP              | GB        |       450122 | PA      | $612563.72    | 0.00%             | 2032-06-20      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| ANGLOGOLD HOLDINGS PLC                                           | AngloGold Ashanti Holdings PLC                                                   | CUSIP: 03512TAE1<br>LEI: 213800745ZIXC4L6A131 | Long             | DBT              | CORP              | IM        |       468000 | PA      | $447876.00    | 0.00%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| ARI Fleet Lease Trust                                            | ARI Fleet Lease Trust 2023-A                                                     | CUSIP: 00218GAD4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2288000 | PA      | $2314872.33   | 0.01%             | 2032-02-17      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| Resimac RAF Trust                                                | RAF ABS Series 2025-1                                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | AU        |      1704488 | PA      | $1226508.56   | 0.01%             | 2031-12-09      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                                           | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BK6<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |      1690000 | PA      | $1515468.12   | 0.01%             | 2033-04-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| BLP Commercial Mortgage Trust                                    | BLP Commercial Mortgage Trust 2024-IND2                                          | CUSIP: 05625AAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4291846 | PA      | $4294528.15   | 0.03%             | 2041-03-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| FED REPUBLIC OF BRAZIL                                           | Brazilian Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |       321000 | PA      | $375611.32    | 0.00%             | 2036-04-23      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICAL INDU                                         | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAP6<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |      2382000 | PA      | $2379046.32   | 0.01%             | 2027-05-09      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HMZ94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3848818 | PA      | $3901400.95   | 0.02%             | 2055-09-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Soundview Home Equity Loan Trust                                 | Soundview Home Loan Trust 2007-NS1                                               | CUSIP: 83612QAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       269016 | PA      | $281254.38    | 0.00%             | 2037-01-25      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                                | Lebanon Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |      2178000 | PA      | $552123.00    | 0.00%             | 2022-10-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                             | SWP: OIS 8.795000 17-SEP-2026 IBR                                                | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DIR              |  | US        |    234476401 | OU      | $1106.73      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                                             | Signal Peak CLO 8 Ltd                                                            | CUSIP: 826937AA2<br>LEI: 635400L44OLNOBHFTO08 | Long             | ABS-CBDO         | CORP              | KY        |      8700000 | PA      | $8717377.38   | 0.05%             | 2037-10-20      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                                                  | AREIT 2025-CRE11                                                                 | CUSIP: 04002DAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     14495000 | PA      | $14515221.97  | 0.09%             | 2043-07-25      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Victory Street CLO                                               | Victory Street Clo II DAC                                                        | CUSIP: 000000000<br>LEI: 635400ZBAAJJTSW7YN78 | Long             | ABS-CBDO         | CORP              | IE        |      4200000 | PA      | $4943948.09   | 0.03%             | 2039-01-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| TPAO VARLIK KIRALAMA ASA                                         | TPAO Varlik Kiralama ASA                                                         | CUSIP: 000000000<br>LEI: 789000L95BI6V730WX84 | Long             | DBT              | CORP              | TR        |      2601000 | PA      | $2558733.75   | 0.02%             | 2031-03-04      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                                     | Barclays Mortgage Loan Trust 2025-NQM7                                           | CUSIP: 06690AAM1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     18111697 | PA      | $18441718.98  | 0.11%             | 2064-12-25      | Variable      | 5.23%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2023-1                                                                      | CUSIP: 26844QAE7<br>LEI: 2549005YTE90D77H8V23 | Long             | ABS-MBS          | CORP              | US        |       972200 | PA      | $969659.84    | 0.01%             | 2068-02-25      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                                           | Cushman & Wakefield US Borrower LLC                                              | CUSIP: 23166MAA1<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |      1895000 | PA      | $1895157.61   | 0.01%             | 2028-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Madison Park Funding Ltd                                         | Madison Park Funding LXV Ltd                                                     | CUSIP: 55823FAA3<br>LEI: 213800EBRIAZSOKC7K58 | Long             | ABS-CBDO         | CORP              | JE        |      6000000 | PA      | $6014309.40   | 0.04%             | 2038-07-16      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust                                     | WinWater Mortgage Loan Trust 2014-3                                              | CUSIP: 97652RAC1<br>LEI: 549300JBTXISBC85OS04 | Long             | ABS-MBS          | CORP              | US        |       289951 | PA      | $272287.61    | 0.00%             | 2044-11-20      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Secucor Finance                                                  | Secucor Finance 2013-1 DAC                                                       | CUSIP: 000000000<br>LEI: 2138001E8BAK3OXZGG87 | Long             | ABS-O            | CORP              | IE        |       500000 | PA      | $589739.60    | 0.00%             | 2036-09-20      | Floating      | 3.39%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 13.120000 02-JAN-2029 BZ                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    415000000 | OU      | $-1765324.84  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                    | Citigroup Inc                                                                    | CUSIP: 000000000<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      7735000 | PA      | $8819324.19   | 0.05%             | 2034-10-22      | Fixed         | 3.49%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $5528.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Mehilainen Yhtiot Oy                                             | Mehilainen Yhtiot Oy 2025 EUR Term Loan B1                                       | CUSIP: 000000000<br>LEI: 2138006X78HGYRHS5865 | Long             | LON              | CORP              | FI        |      1000000 | PA      | $1180844.16   | 0.01%             | 2031-08-05      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Sri Lanka Government International Bonds                         | Sri Lanka Government International Bonds                                         | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      1600000 | PA      | $1232000.00   | 0.01%             | 2035-06-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                               | MCR 2024-HTL Mortgage Trust                                                      | CUSIP: 55286PAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       894318 | PA      | $893216.98    | 0.01%             | 2037-02-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | SWAP/CDSWAP/SCDS: (WLNFP)                                                        | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DCR              |  | DE        |       891089 | OU      | $-169894.87   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-8232.75     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2022-5                                                | CUSIP: 924921AC3<br>LEI: 213800278TKDEXPH6140 | Long             | ABS-MBS          | CORP              | US        |      2434969 | PA      | $2258692.06   | 0.01%             | 2067-04-25      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2022-1                                                  | CUSIP: 03464BAA6<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      1414366 | PA      | $1331214.07   | 0.01%             | 2066-12-25      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| BOS Trust 2026-LYRK                                              | BOS Trust 2026-LYRK                                                              | CUSIP: 05595BAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2323000 | PA      | $2313903.36   | 0.01%             | 2041-05-11      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| Atlas Luxco 4 SARL                                               | Atlas Luxco 4 SARL EUR Term Loan B                                               | CUSIP: 01957TAY3<br>LEI: 549300ONXPZT3KQZDR65 | Long             | LON              | CORP              | LU        |      1530241 | PA      | $1806940.62   | 0.01%             | 2032-08-20      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| Mila B.V.                                                        | Mila 2025-1 BV                                                                   | CUSIP: 000000000<br>LEI: 72450098VTA940FX5997 | Long             | ABS-O            | CORP              | NL        |       100000 | PA      | $117345.37    | 0.00%             | 2042-10-12      | Floating      | 2.84%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                                           | Arsenal AIC Parent LLC                                                           | CUSIP: 04288BAB6<br>LEI: 254900G9F9HA5EP57J39 | Long             | DBT              | CORP              | US        |      1690000 | PA      | $1766798.67   | 0.01%             | 2030-10-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2025-2                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |       475000 | PA      | $646354.82    | 0.00%             | 2033-07-15      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| MidOcean Credit CLO                                              | MidOcean Credit CLO XII Ltd                                                      | CUSIP: 59803TBA8<br>LEI: 5493000CPZWPTWX7TF71 | Long             | ABS-CBDO         | CORP              | JE        |      2500000 | PA      | $2504807.50   | 0.01%             | 2038-07-18      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2025-NQM3                                                                   | CUSIP: 26846YAG3<br>LEI: 2549007I2BIJP4S0O647 | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $3006993.00   | 0.02%             | 2070-08-25      | Variable      | 6.45%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2025-JDI                                            | CUSIP: 05594LAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4117009 | PA      | $4122154.98   | 0.02%             | 2042-11-15      | Floating      | 7.05%                 | No            |                  2 | On Loan: No      |
| BONOS TESORERIA PESOS                                            | Bonos de la Tesoreria de la Republica en pesos                                   | CUSIP: 000000000<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |  21400000000 | PA      | $23817982.86  | 0.14%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AXON ENTERPRISE INC                                              | Axon Enterprise Inc                                                              | CUSIP: 05464CAC5<br>LEI: 549300QP2IEEGFE16681 | Long             | DBT              | CORP              | US        |      2763000 | PA      | $2825211.40   | 0.02%             | 2030-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 6.179700 17-DEC-2027 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1192205390 | OU      | $-16830.24    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | 1Y RTR 4.150000 24-APR-2028                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | KY        |    491297000 | OU      | $3403791.87   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED GBP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | GB        |            1 | NC      | $3119.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LendingClub Structured Loan Certificate Issuer Trust             | LendingClub Structured Loan Certificate Issuer Trust Series 2025-P16             | CUSIP: 525950AA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5825181 | PA      | $5819528.95   | 0.03%             | 2032-12-15      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| TRIDENT ENERGY FINANCE                                           | Trident Energy Finance PLC                                                       | CUSIP: 000000000<br>LEI: 9845004ECK3FYO64I382 | Long             | DBT              | CORP              | GB        |       472000 | PA      | $503845.84    | 0.00%             | 2029-11-30      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| HUNGARY                                                          | Hungary Government International Bond                                            | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |     10072000 | PA      | $12014154.78  | 0.07%             | 2027-02-22      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AROUNDTOWN FINANCE SARL                                          | Aroundtown Finance Sarl                                                          | CUSIP: 000000000<br>LEI: 8945006LEXV2KWSWVP51 | Long             | DBT              | CORP              | LU        |      4895000 | PA      | $5510178.36   | 0.03%             | 2029-04-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vasco Finance                                                    | TAGUS-Sociedade de Titularizacao de Creditos SA/Vasco Finance No. 3              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |       300000 | PA      | $351515.36    | 0.00%             | 2043-10-27      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                        | CIM Trust 2023-I1                                                                | CUSIP: 12570DAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5095000 | PA      | $5075429.70   | 0.03%             | 2058-04-25      | Variable      | 7.03%                 | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.                                             | Birch Grove CLO 10 Ltd                                                           | CUSIP: 09090JAA8<br>LEI: 254900VS6E4BD1HWHW18 | Long             | ABS-CBDO         | CORP              | KY        |       450000 | PA      | $450837.32    | 0.00%             | 2038-01-22      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| American Money Management Corporation                            | AMMC CLO 32 Ltd                                                                  | CUSIP: 03166KAA7<br>LEI: 549300ICO4ZE2FVC2Y46 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004874.80   | 0.01%             | 2038-10-17      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2019-NQM5                                    | CUSIP: 64830PAA4<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      1431965 | PA      | $1364673.59   | 0.01%             | 2059-11-25      | Variable      | 2.71%                 | No            |                  2 | On Loan: No      |
| iShares iBoxx USD Investment Grade Corporate Bond ETF            | iShares iBoxx USD Investment Grade Corporate Bond ETF                            | CUSIP: 464287242<br>LEI: 549300FYCXFXG8POR355 | Long             | EC               | RF                | US        |      1088400 | NS      | $118472340.00 | 0.70%             |  |  |  | No            |                  1 | On Loan: —       |
| Silk Finance                                                     | TAGUS - Sociedade de Titularizacao de Creditos SA/Silk Finance No 6              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |       300000 | PA      | $353096.62    | 0.00%             | 2039-12-25      | Floating      | 3.33%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT INC                                                    | Open Text Holdings Inc                                                           | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3647000 | PA      | $3114079.21   | 0.02%             | 2031-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| AZULE ENERGY FINANCE PLC                                         | Azule Energy Finance Plc                                                         | CUSIP: 05501YAB4<br>LEI: 2138006X6O82RJSQDB63 | Long             | DBT              | CORP              | GB        |      7963000 | PA      | $8211843.75   | 0.05%             | 2031-01-22      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BU3N8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      4552028 | PA      | $4606941.77   | 0.03%             | 2053-07-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2025-SPOT                                           | CUSIP: 12433FAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8057328 | PA      | $8062340.06   | 0.05%             | 2040-04-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Italian Stella Loans Srl                                                         | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |        79677 | PA      | $93972.98     | 0.00%             | 2039-05-27      | Floating      | 3.37%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2024-9                                                  | CUSIP: 03466JAA7<br>LEI: 254900O3R79X1AD55F36 | Long             | ABS-MBS          | CORP              | US        |      5186796 | PA      | $5185513.21   | 0.03%             | 2069-09-25      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2024-NQM5 Trust                                                              | CUSIP: 67448NAA6<br>LEI: 254900RDM4XSF0B1E373 | Long             | ABS-MBS          | CORP              | US        |       917466 | PA      | $922901.30    | 0.01%             | 2064-01-25      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                            | Level 3 Financing Inc                                                            | CUSIP: 527298CQ4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      7168000 | PA      | $7677006.85   | 0.05%             | 2036-01-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| CITADEL PLC                                                      | Citadel 2024-1 PLC                                                               | CUSIP: 000000000<br>LEI: 213800XKX6NBEB5W9Z43 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $137123.70    | 0.00%             | 2060-04-28      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| Elsan SAS                                                        | Elsan SAS 2025 EUR Term Loan B                                                   | CUSIP: 000000000<br>LEI: 969500KPGB0PD8HGDD09 | Long             | LON              | CORP              | FR        |      2000000 | PA      | $2251200.94   | 0.01%             | 2031-06-16      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 6.919700 28-OCT-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    117490022 | OU      | $10869.23     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Consolidated Communications LLC, Fidium Fiber Finance Holdco LLC | Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC                  | CUSIP: 315961AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      8626000 | PA      | $8641045.47   | 0.05%             | 2055-12-20      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                                          | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3174000 | PA      | $3203740.38   | 0.02%             | 2031-02-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| TECHEM VERWALTUNGSGESELL                                         | Techem Verwaltungsgesellschaft 675 mbH                                           | CUSIP: 000000000<br>LEI: 529900N0M7FQHNAV1A41 | Long             | DBT              | CORP              | DE        |      7559000 | PA      | $8781613.82   | 0.05%             | 2032-07-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.300000 27-AUG-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     11621030 | OU      | $1742.32      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Asimi Funding Holdings Limited                                   | Asimi Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800AXPL92U14G2M23 | Long             | ABS-O            | CORP              | GB        |       638848 | PA      | $869904.91    | 0.01%             | 2032-12-16      | Floating      | 8.54%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDB3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      2810000 | PA      | $2807472.12   | 0.02%             | 2027-11-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Credit-Based Asset Servicing and Securitization                  | Credit-Based Asset Servicing and Securitization LLC                              | CUSIP: 12489WHY3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3196546 | PA      | $3235847.66   | 0.02%             | 2033-07-25      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| VB-S1 Issuer LLC                                                 | VB-S1 Issuer LLC                                                                 | CUSIP: 91825HAC8<br>LEI: 549300DKEDU9WZPGTC09 | Long             | ABS-O            | CORP              | US        |      2436000 | PA      | $2411120.40   | 0.01%             | 2056-03-15      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| Exmoor Funding PLC                                               | Exmoor Funding 2024-1 PLC                                                        | CUSIP: 000000000<br>LEI: 635400TJWGCUUIZAGH30 | Long             | ABS-MBS          | CORP              | GB        |       157000 | PA      | $214818.06    | 0.00%             | 2094-03-25      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| SWORD PURCHASER LLC                                              | Sword Purchaser LLC                                                              | CUSIP: 87110CAB3<br>LEI: 254900S0VY2QTAITBR94 | Long             | DBT              | CORP              | US        |      1995000 | PA      | $2041200.55   | 0.01%             | 2033-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                            | KKR CLO 30 Ltd                                                                   | CUSIP: 48250EBE4<br>LEI: 549300NB16RGUJOZXI16 | Long             | ABS-CBDO         | CORP              | KY        |      3500000 | PA      | $3502024.05   | 0.02%             | 2037-04-17      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2024-NQM4 Trust                                                             | CUSIP: 69381UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9123764 | PA      | $9167677.35   | 0.05%             | 2069-12-26      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| FHLMC Multifamily Structured Pass Through Certs.                 | Freddie Mac Multifamily Structured Pass Through Certificates                     | CUSIP: 3137HAD60<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4245400 | PA      | $80537.79     | 0.00%             | 2033-06-25      | Variable      | 0.44%                 | No            |                  2 | On Loan: No      |
| LCM Ltd Partnership                                              | LCM 29 Ltd                                                                       | CUSIP: 50201MAS2<br>LEI: 549300RB1XGNK3FHRH35 | Long             | ABS-CBDO         | CORP              | KY        |      1420000 | PA      | $1423822.78   | 0.01%             | 2031-04-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                         | Univision Communications Inc                                                     | CUSIP: 914906AV4<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |       200000 | PA      | $190822.14    | 0.00%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2025-I Ltd                                                          | CUSIP: 12572VAG9<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2494263.00   | 0.01%             | 2038-04-23      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                                         | British Telecommunications PLC                                                   | CUSIP: 11102AAG6<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |      1442000 | PA      | $1388541.89   | 0.01%             | 2081-11-23      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VF Corp.                                                         | VF Corp.                                                                         | CUSIP: 000000000<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |     10800000 | PA      | $12663684.76  | 0.08%             | 2029-03-07      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2025-4                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |      2726000 | PA      | $1960145.68   | 0.01%             | 2034-04-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                             | Neptune Bidco US Inc                                                             | CUSIP: 640695AD4<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |      9469000 | PA      | $9476512.70   | 0.06%             | 2033-02-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BWLP9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5343577 | PA      | $5431364.37   | 0.03%             | 2055-06-25      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAA6<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |      2666000 | PA      | $2697645.42   | 0.02%             | 2028-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                             | SWAP/CDSWAP/SCDS: (WLNFP)                                                        | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | DE        |       908911 | OU      | $-173292.82   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HUNGARY                                                          | Hungary Government International Bond                                            | CUSIP: 445545AU0<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |       468000 | PA      | $468351.00    | 0.00%             | 2036-03-26      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BU2R0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22550845 | PA      | $22831632.33  | 0.14%             | 2055-03-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2022-C                                          | CUSIP: 78449CAA6<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       696109 | PA      | $688098.67    | 0.00%             | 2050-05-16      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Restaurant Brands International Inc.                             | Restaurant Brands International Inc 2025 EUR Term Loan B                         | CUSIP: 000000000<br>LEI: 5299009RXTX9DN9AKJ98 | Long             | LON              | CORP              | GB        |      2500000 | PA      | $2949528.37   | 0.02%             | 2031-10-31      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                           | Egypt Government International Bond                                              | CUSIP: 03846JAG5<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |       627000 | PA      | $675034.47    | 0.00%             | 2033-02-04      | Fixed         | 9.45%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2026-1                                                | CUSIP: 92541JAF8<br>LEI: 2138009KJR7Q44BI8668 | Long             | ABS-MBS          | CORP              | US        |       208430 | PA      | $207640.54    | 0.00%             | 2071-01-25      | Variable      | 4.86%                 | No            |                  2 | On Loan: No      |
| HALEON US CAPITAL LLC                                            | Haleon US Capital LLC                                                            | CUSIP: 36264FAK7<br>LEI: 549300N8C3A3L0UVQB07 | Long             | DBT              | CORP              | US        |      4265000 | PA      | $4229258.62   | 0.03%             | 2027-03-24      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                                              | SG Residential Mortgage Trust 2025-1                                             | CUSIP: 81880NAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6251216 | PA      | $6235541.07   | 0.04%             | 2065-12-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                                            | Encompass Health Corp                                                            | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |       110000 | PA      | $106982.67    | 0.00%             | 2031-04-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                   | FSWP: OIS 5.415000 17-JUN-2036 CLI                                               | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DIR              |  | US        |   4426716000 | OU      | $-34528.13    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.220000 17-SEP-2026 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     12886639 | OU      | $-79583.40    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SAMARCO MINERACAO SA                                             | Samarco Mineracao SA                                                             | CUSIP: 000000000<br>LEI: 529900U8HKV15GJC4O60 | Long             | DBT              | CORP              | BR        |      8779172 | PA      | $8787951.17   | 0.05%             | 2031-06-30      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.165000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     31286436 | OU      | $-95859.51    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HMKA7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8160378 | PA      | $8261234.13   | 0.05%             | 2055-08-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Asimi Funding Holdings Limited                                   | Asimi Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800AXPL92U14G2M23 | Long             | ABS-O            | CORP              | GB        |      1546991 | PA      | $2111178.49   | 0.01%             | 2032-12-16      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| ITHACA ENERGY NORTH                                              | Ithaca Energy North Sea PLC                                                      | CUSIP: 000000000<br>LEI: 213800BMMUN3AKWBIO91 | Long             | DBT              | CORP              | GB        |     11892000 | PA      | $14116618.23  | 0.08%             | 2031-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2026-1 PLC                                              | CUSIP: 000000000<br>LEI: 2138006RXLKWX319BI66 | Long             | ABS-MBS          | CORP              | GB        |       544000 | PA      | $741458.15    | 0.00%             | 2068-04-17      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                                                    | Nordstrom Inc                                                                    | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |      1872000 | PA      | $1778895.33   | 0.01%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Citibank NA                                                      | PURCHASED IDR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | ID        |            1 | NC      | $-494691.85   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED HUF / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | HU        |            1 | NC      | $157477.50    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BINOM Securitization Trust                                       | BINOM Securitization Trust 2021-INV1                                             | CUSIP: 05552UAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1236860 | PA      | $1136865.05   | 0.01%             | 2056-06-25      | Variable      | 2.03%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                            | KKR Financial CLO 2013-1 Ltd                                                     | CUSIP: 48249VBG5<br>LEI: 549300ZUUB37M3VWNC17 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002468.80   | 0.01%             | 2038-10-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                            | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3409000 | PA      | $3588794.07   | 0.02%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                      | BBCMS Mortgage Trust 2025-C39                                                    | CUSIP: 05556YAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       785000 | PA      | $798709.71    | 0.00%             | 2058-12-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.172500 11-APR-2028 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   1600120000 | OU      | $-96406.06    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                                            | Encompass Health Corp                                                            | CUSIP: 29261AAA8<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |      1600000 | PA      | $1587595.04   | 0.01%             | 2028-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.164500 17-SEP-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     15604516 | OU      | $1953.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| INTESA SANPAOLO SPA                                              | Intesa Sanpaolo SpA                                                              | CUSIP: 000000000<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |      8600000 | PA      | $10408805.66  | 0.06%             | 2028-03-30      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2025-NQM4                                    | CUSIP: 36272UAL2<br>LEI: 25490076N7JFR2Y3CU63 | Long             | ABS-MBS          | CORP              | US        |      1657666 | PA      | $1652314.56   | 0.01%             | 2065-10-25      | Variable      | 6.77%                 | No            |                  2 | On Loan: No      |
| Nigeria Government International Bonds                           | Nigeria Government International Bonds                                           | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |      4260000 | PA      | $4396320.00   | 0.03%             | 2030-02-23      | Fixed         | 7.14%                 | No            |                  2 | On Loan: No      |
| DISCOVERY HOLDINGS INC                                           | Discovery Global Holdings Inc                                                    | CUSIP: 55903VBQ5<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |       704000 | PA      | $637633.92    | 0.00%             | 2032-03-15      | Fixed         | 4.28%                 | No            |                  2 | On Loan: No      |
| RESORTS WORLD/RWLV CAP                                           | Resorts World Las Vegas LLC / RWLV Capital Inc                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2000000 | PA      | $1785000.00   | 0.01%             | 2029-04-16      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Issuer Trust 2025-3                                    | CUSIP: 39571WAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3320769 | PA      | $3311302.53   | 0.02%             | 2060-12-27      | Fixed         | 4.52%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.160000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      2793552 | OU      | $-8635.99     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                              | Sirius XM Radio LLC                                                              | CUSIP: 82967NBJ6<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      5455000 | PA      | $5297390.87   | 0.03%             | 2028-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SG Capital Partners                                              | SG Residential Mortgage Trust 2026-1                                             | CUSIP: 818916AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15690824 | PA      | $15567463.97  | 0.09%             | 2066-01-25      | Variable      | 4.78%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Government National Mortgage Association                                         | CUSIP: 38384PC32<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3138615 | PA      | $3161332.94   | 0.02%             | 2054-06-20      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| HalseyPoint CLO I, Ltd.                                          | HalseyPoint CLO 4 Ltd                                                            | CUSIP: 40637LAA8<br>LEI: 549300CMJUK1VCINNF57 | Long             | ABS-CBDO         | CORP              | KY        |       900000 | PA      | $900521.37    | 0.01%             | 2034-04-20      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                          | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBD1<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |      7225000 | PA      | $7053967.20   | 0.04%             | 2033-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Froneri Lux Finco Sarl                                           | Froneri Lux Finco Sarl 2025 EUR Term Loan                                        | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | LON              | CORP              | LU        |      4127907 | PA      | $4835414.90   | 0.03%             | 2032-09-30      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Republic of South Africa Government International Bonds          | Republic of South Africa Government International Bonds                          | CUSIP: 836205BB9<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |      1365000 | PA      | $1102920.00   | 0.01%             | 2049-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.219000 17-JUN-2031 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     77551000 | OU      | $336069.14    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                   | CUSIP: 629377CY6<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |      9536000 | PA      | $9531653.49   | 0.06%             | 2029-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2025-I Ltd                                                          | CUSIP: 12572VAA2<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $999251.20    | 0.01%             | 2038-04-23      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | Cifc Funding 2014-IV-R Ltd                                                       | CUSIP: 12552FBJ1<br>LEI: 5493006JGTCIL6LCS728 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3001533.90   | 0.02%             | 2035-01-17      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| French Republic Government Bonds OAT                             | French Republic Government Bonds OAT                                             | CUSIP: 000000000<br>LEI: 969500KCGF3SUYJHPV70 | Long             | DBT              | NUSS              | FR        |     67542000 | PA      | $79004614.85  | 0.47%             | 2029-02-25      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                                         | OZLM XVIII Ltd                                                                   | CUSIP: 67112GAC2<br>LEI: 5493002SZMQH8ZTTHX49 | Long             | ABS-CBDO         | CORP              | KY        |       224518 | PA      | $224893.22    | 0.00%             | 2031-04-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 41 Ltd                                               | Elmwood CLO 41 Ltd                                                               | CUSIP: 29005BAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2005313.20   | 0.01%             | 2038-07-17      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                         | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |     17800000 | PA      | $20325299.78  | 0.12%             | 2031-01-06      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Guaranteed Funding (DK) Limited                                  | DK Trust 2024-SPBX                                                               | CUSIP: 23346LAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1400000 | PA      | $1400000.00   | 0.01%             | 2034-03-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2026-1                                    | CUSIP: 92262WAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9724578 | PA      | $9593267.50   | 0.06%             | 2056-02-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                                          | Central Garden & Pet Co                                                          | CUSIP: 153527AP1<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |       732000 | PA      | $686670.53    | 0.00%             | 2031-04-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| Sixth Street CLO XVI, Ltd.                                       | Sixth Street CLO XVI Ltd                                                         | CUSIP: 83012DBQ5<br>LEI: 549300YD05LZSDNMVF16 | Long             | ABS-CBDO         | CORP              | KY        |     10250000 | PA      | $10245068.73  | 0.06%             | 2039-01-21      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | USD P BRL C @5.350000 EO                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |    -23895000 | OU      | $-1673534.12  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                                     | SM Energy Co                                                                     | CUSIP: 17888HAC7<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |      2992000 | PA      | $3164862.80   | 0.02%             | 2030-11-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| BBVA consumer auto                                               | Bbva Consumer Auto 2025-1 FT                                                     | CUSIP: 000000000<br>LEI: 959800MMSVSVXFLRQM04 | Long             | ABS-O            | CORP              | ES        |       281021 | PA      | $330499.41    | 0.00%             | 2042-05-19      | Floating      | 3.01%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                                                   | Solventum Corp                                                                   | CUSIP: 83444MAN1<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |     16605000 | PA      | $16717350.43  | 0.10%             | 2027-02-25      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| IRON MOUNTAIN INC                                                | Iron Mountain Inc                                                                | CUSIP: 46284VAE1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      1835000 | PA      | $1833329.42   | 0.01%             | 2028-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                            | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAF4<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |      1417000 | PA      | $1393412.05   | 0.01%             | 2033-02-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2024-2                                                  | CUSIP: 46657TAB1<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       520803 | PA      | $524485.11    | 0.00%             | 2054-08-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                 | Symphony CLO 43 Ltd                                                              | CUSIP: 87170BAA4<br>LEI: 254900QCSPTCYRSY3N68 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2002154.40   | 0.01%             | 2037-04-15      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                            | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAG2<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |      1028000 | PA      | $1016717.19   | 0.01%             | 2032-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                  | SWAP/CDSWAP/ICE: (PHILIP)                                                        | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |      2500000 | OU      | $-27802.20    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2026-P1                                   | CUSIP: 92263AAD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1021462 | PA      | $1015234.46   | 0.01%             | 2056-03-25      | Variable      | 5.98%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | Ares XXVII CLO Ltd                                                               | CUSIP: 00190YBR5<br>LEI: 549300BC3E2Y44TL8536 | Long             | ABS-CBDO         | CORP              | KY        |       226000 | PA      | $226534.92    | 0.00%             | 2034-10-28      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| LUNE HOLDINGS SARL                                               | Lune Holdings Sarl                                                               | CUSIP: 000000000<br>LEI: 54930003WQ56T0558M33 | Long             | DBT              | CORP              | LU        |      4892000 | PA      | $119595.33    | 0.00%             | 2028-11-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ATOS SE                                                          | Atos SE                                                                          | CUSIP: 000000000<br>LEI: 5493001EZOOA66PTBR68 | Long             | SN               | CORP              | FR        |     14413738 | PA      | $19304696.21  | 0.11%             | 2029-12-18      | Variable      | 9.36%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                             | Deephaven Residential Mortgage Trust 2021-1                                      | CUSIP: 24380VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       867048 | PA      | $842076.42    | 0.00%             | 2065-05-25      | Variable      | 0.72%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                            | Mexico Government International Bonds                                            | CUSIP: 91087BBB5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |      3547000 | PA      | $3680012.50   | 0.02%             | 2030-05-13      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Dominican Republic International Bonds                           | Dominican Republic International Bonds                                           | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |      4837000 | PA      | $4875696.00   | 0.03%             | 2027-01-25      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Elm Park CLO                                                     | Elm Park CLO DAC                                                                 | CUSIP: 000000000<br>LEI: 549300U4MCTO5672RE42 | Long             | ABS-CBDO         | CORP              | IE        |      2729000 | PA      | $3182182.03   | 0.02%             | 2038-01-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2025-NQM3 Trust                                                              | CUSIP: 58004LAD9<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |       631579 | PA      | $632062.85    | 0.00%             | 2070-08-25      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Cheshire                                                         | Cheshire 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 635400KAD9IOWKUKQR96 | Long             | ABS-MBS          | CORP              | GB        |       386000 | PA      | $525970.56    | 0.00%             | 2048-06-28      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2025-1 PLC                                                               | CUSIP: 000000000<br>LEI: 635400MKPQQD5URNMC45 | Long             | ABS-MBS          | CORP              | GB        |       413000 | PA      | $563066.41    | 0.00%             | 2068-02-26      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                            | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |       200000 | PA      | $202771.00    | 0.00%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                            | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AF3<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |      6207000 | PA      | $6495209.63   | 0.04%             | 2034-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY GROUP                                             | Ryan Specialty LLC                                                               | CUSIP: 78351MAA0<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |      1569000 | PA      | $1522620.36   | 0.01%             | 2030-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.184800 17-SEP-2026 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      2347864 | OU      | $-14274.53    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KINGDOM OF MOROCCO                                               | Morocco Government International Bond                                            | CUSIP: 617726AN4<br>LEI: 529900F3MBW9XY5K1X07 | Long             | DBT              | NUSS              | MA        |       468000 | PA      | $477506.25    | 0.00%             | 2028-03-08      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2026-VLT9                                           | CUSIP: 05618UAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12205000 | PA      | $12182115.63  | 0.07%             | 2045-03-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                      | Ivory Coast Government International Bond                                        | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |      3595860 | PA      | $3633292.64   | 0.02%             | 2028-03-03      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                                 | GGAM Finance Ltd                                                                 | CUSIP: 36170JAA4<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |       551000 | PA      | $573916.64    | 0.00%             | 2028-06-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| SHR Trust                                                        | SHR Trust 2024-LXRY                                                              | CUSIP: 784234AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5130000 | PA      | $5147942.69   | 0.03%             | 2041-10-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                                       | TELUS Corp                                                                       | CUSIP: 87971MCQ4<br>LEI: 894500TX134IMF6NW757 | Long             | DBT              | CORP              | CA        |       766000 | PA      | $766087.32    | 0.00%             | 2056-06-09      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |      2358000 | PA      | $2780779.57   | 0.02%             | 2029-01-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                         | Rogers Communications Inc                                                        | CUSIP: 775109CG4<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |      8010000 | PA      | $7928640.03   | 0.05%             | 2027-03-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: —       |
| UBS Commercial Mortgage Trust                                    | UBS Commercial Mortgage Trust 2017-C4                                            | CUSIP: 90276RBH0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       565000 | PA      | $549319.10    | 0.00%             | 2050-10-15      | Variable      | 3.84%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $3613.09      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GoodLeap Home Improvement Solutions Trust                        | GoodLeap Home Improvement Solutions Trust 2025-3                                 | CUSIP: 38237FAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9153518 | PA      | $9091165.40   | 0.05%             | 2049-10-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SC GERMANY CONSUMER                                              | SC Germany SA Compartment Consumer 2024-2                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       100000 | PA      | $117523.06    | 0.00%             | 2038-05-14      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| WAND NEWCO 3 INC                                                 | Wand NewCo 3 Inc                                                                 | CUSIP: 933940AA6<br>LEI: 549300Y3VZEWMSQW8494 | Long             | DBT              | CORP              | US        |      3640000 | PA      | $3789356.48   | 0.02%             | 2032-01-30      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                           | US ULTRA BOND CBT JUN26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         -318 | NC      | $996272.12    | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| MFRA Trust                                                       | MFA 2025-NQM3 Trust                                                              | CUSIP: 58004LAE7<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      1850000 | PA      | $1873600.08   | 0.01%             | 2070-08-25      | Variable      | 6.93%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                                     | SM Energy Co                                                                     | CUSIP: 17888HAD5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |      1269000 | PA      | $1414021.32   | 0.01%             | 2033-06-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-VLT6                                                               | CUSIP: 12433KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8242000 | PA      | $8205941.25   | 0.05%             | 2042-03-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD IDR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $394399.90    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 81 B Ltd                                              | CUSIP: 38181DAA0<br>LEI: 254900Q9J0ZXOH0PUQ28 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004780.20   | 0.01%             | 2038-07-20      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| YUM! BRANDS INC                                                  | Yum! Brands Inc                                                                  | CUSIP: 988498AP6<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |       150000 | PA      | $144308.59    | 0.00%             | 2032-01-31      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Corp Trust 2023-FUN                                       | CUSIP: 36267CAC9<br>LEI: 5493001UQE7OCP3UT106 | Long             | ABS-MBS          | CORP              | US        |       580000 | PA      | $579818.75    | 0.00%             | 2028-03-15      | Floating      | 6.44%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                                    | FirstCash Inc                                                                    | CUSIP: 33767DAB1<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |      1082000 | PA      | $1063803.68   | 0.01%             | 2028-09-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                             | Reworld Holding Corp                                                             | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |      1210000 | PA      | $1156463.43   | 0.01%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited                                 | Bain Capital Credit CLO 2024-2 Ltd                                               | CUSIP: 056921AA7<br>LEI: 254900KJZFJF5PZOFD13 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2002320.40   | 0.01%             | 2037-07-15      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| LD CELULOSE INTERNATIONA                                         | LD Celulose International GmbH                                                   | CUSIP: 50206BAA0<br>LEI: 529900EHUSQJVOTP9J45 | Long             | DBT              | CORP              | AT        |       608000 | PA      | $633244.16    | 0.00%             | 2032-01-26      | Fixed         | 7.95%                 | No            |                  2 | On Loan: —       |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2021-1                                                    | CUSIP: 52607MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1325000 | PA      | $1301034.73   | 0.01%             | 2031-11-20      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 8.080000 26-APR-2029 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    445578000 | OU      | $-35465.24    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: OIS 1.624000 17-JUN-2031 THO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    238685981 | OU      | $-29120.61    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Corp Trust 2023-FUN                                       | CUSIP: 36267CAA3<br>LEI: 5493001UQE7OCP3UT106 | Long             | ABS-MBS          | CORP              | US        |      4390000 | PA      | $4388628.13   | 0.03%             | 2028-03-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                                              | Sound Point Clo 2025-2 Ltd                                                       | CUSIP: 83617PAG0<br>LEI: 254900EAOCKFK910QE14 | Long             | ABS-CBDO         | CORP              | KY        |      1050000 | PA      | $1052766.12   | 0.01%             | 2038-04-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XVIII Ltd                                                           | CUSIP: 89640LAL6<br>LEI: 2549005HDP7QU1IK5W96 | Long             | ABS-CBDO         | CORP              | KY        |      3750000 | PA      | $3751548.38   | 0.02%             | 2035-01-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | USD P IDR C @16400.00 EO                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |    -13348000 | OU      | $-13.35       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2021-D                                 | CUSIP: 63942CAA0<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |       322613 | PA      | $317613.60    | 0.00%             | 2060-04-15      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AE1<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |      4839000 | PA      | $4736745.16   | 0.03%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                           | ISHARES IBOXX USD HIGH YIELD C                                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -15000 | NC      | $-88378.50    | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Whitebox CLO I Ltd                                               | Whitebox Clo I Ltd                                                               | CUSIP: 96467FBJ8<br>LEI: 549300E4AC0513DYO913 | Long             | ABS-CBDO         | CORP              | KY        |      4435000 | PA      | $4430119.28   | 0.03%             | 2037-01-24      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos CLO XXXII                                                                 | CUSIP: 03768RAU0<br>LEI: 549300CXPXW83QGWOL98 | Long             | ABS-CBDO         | CORP              | KY        |       555000 | PA      | $556812.46    | 0.00%             | 2033-01-20      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| PENN Commercial Mortgage Trust                                   | PENN Commercial Mortgage Trust 2025-P11                                          | CUSIP: 69382VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6364000 | PA      | $6463723.88   | 0.04%             | 2042-08-10      | Variable      | 5.52%                 | No            |                  2 | On Loan: No      |
| DPL INC/OHIO                                                     | DPL LLC/Ohio                                                                     | CUSIP: 233293AQ2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       889000 | PA      | $860781.54    | 0.01%             | 2029-04-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Navient Education Loan Trust                                     | Navient Education Loan Trust 2026-A                                              | CUSIP: 63943MAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2003000 | PA      | $1995302.87   | 0.01%             | 2056-09-15      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CNY 1.645000 17-DEC-2030 CNR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     20337215 | OU      | $14521.21     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bletchley Park Funding                                           | Bletchley Park Funding 2025-1 PLC                                                | CUSIP: 000000000<br>LEI: 635400OJVL3HJJTKNB05 | Long             | ABS-MBS          | CORP              | GB        |       366000 | PA      | $499183.86    | 0.00%             | 2070-01-27      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| ALPEK SA DE CV                                                   | Alpek SAB de CV                                                                  | CUSIP: 020564AE0<br>LEI: 549300PWKJTP62D4IQ66 | Long             | DBT              | CORP              | MX        |       454000 | PA      | $394707.60    | 0.00%             | 2031-02-25      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| MF1 Multifamily Housing Mortgage Loan Trust                      | MF1 2026-FL21 LLC                                                                | CUSIP: 55287NAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     14900000 | PA      | $14875701.08  | 0.09%             | 2041-02-18      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2024-H7 Mortgage Trust                                                     | CUSIP: 22757CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4754361 | PA      | $4777076.79   | 0.03%             | 2069-11-25      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                            | Molina Healthcare Inc                                                            | CUSIP: 60855RAK6<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |      4292000 | PA      | $3977301.98   | 0.02%             | 2030-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                           | Egypt Government International Bond                                              | CUSIP: 038461AM1<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |       685000 | PA      | $623761.00    | 0.00%             | 2047-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| Warwick Capital CLO Ltd                                          | Warwick Capital CLO 6 Ltd                                                        | CUSIP: 93656EAA9<br>LEI: 254900WYTOTUQQSCN403 | Long             | ABS-CBDO         | CORP              | KY        |      1620000 | PA      | $1623101.33   | 0.01%             | 2038-07-20      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Vasco Finance                                                    | TAGUS-Sociedade de Titularizacao de Creditos SA/Vasco Finance No. 2              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |        63339 | PA      | $74705.21     | 0.00%             | 2042-10-27      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| Anticimex International AB                                       | Anticimex International AB 2025 EUR Term Loan B                                  | CUSIP: 000000000<br>LEI: 54930005SBU6WYFBEB41 | Long             | LON              | CORP              | SE        |      1350000 | PA      | $1593664.29   | 0.01%             | 2031-11-17      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Four Srl                 | CUSIP: 000000000<br>LEI: 8156003524A4F7B21C64 | Long             | ABS-O            | CORP              | IT        |       525000 | PA      | $620359.71    | 0.00%             | 2040-08-16      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO 2016-3 Ltd                                                      | CUSIP: 09628VAW4<br>LEI: 549300EYIDIF4X8MHI21 | Long             | ABS-CBDO         | CORP              | KY        |       438215 | PA      | $438183.42    | 0.00%             | 2030-11-15      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| TABCORP FINANCE PTY LTD                                          | Tabcorp Finance Pty Ltd                                                          | CUSIP: 000000000<br>LEI: 213800DP7KVM374ANX97 | Long             | DBT              | CORP              | AU        |      4960000 | PA      | $3464967.01   | 0.02%             | 2031-05-28      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.815300 17-SEP-2026 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    151110574 | OU      | $4739.51      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                                | Iliad Holding SAS                                                                | CUSIP: 000000000<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |       100000 | PA      | $118298.15    | 0.00%             | 2028-10-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2024-3                                                  | CUSIP: 03466HAA1<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      2286293 | PA      | $2270688.08   | 0.01%             | 2068-11-26      | Variable      | 4.80%                 | No            |                  2 | On Loan: No      |
| Exmoor Funding PLC                                               | Exmoor Funding 2025-1 PLC                                                        | CUSIP: 000000000<br>LEI: 635400YFBIYXOQAEON61 | Long             | ABS-MBS          | CORP              | GB        |       961682 | PA      | $1307961.83   | 0.01%             | 2095-03-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | CSMC 2022-NQM3 Trust                                                             | CUSIP: 12661NAD6<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      9000000 | PA      | $8093576.70   | 0.05%             | 2067-03-25      | Variable      | 4.27%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                        | Towd Point Mortgage Trust 2015-2                                                 | CUSIP: 89171YBD2<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |        93488 | PA      | $93205.96     | 0.00%             | 2057-11-25      | Variable      | 4.79%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BR2U0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3457681 | PA      | $3481758.49   | 0.02%             | 2054-06-25      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2021-NQM3 Trust                                                             | CUSIP: 36167HAF2<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |       578000 | PA      | $436155.68    | 0.00%             | 2066-05-25      | Variable      | 3.47%                 | No            |                  2 | On Loan: No      |
| CIP Commercial Mortgage Trust 2025-SBAY                          | CIP Commercial Mortgage Trust 2025-SBAY                                          | CUSIP: 12576AAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9606000 | PA      | $9617931.61   | 0.06%             | 2037-10-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2024-32 Ltd                                                              | CUSIP: 67570DAA8<br>LEI: 2138008SMV573POQTV86 | Long             | ABS-CBDO         | CORP              | JE        |      1200000 | PA      | $1200000.00   | 0.01%             | 2037-04-23      | Floating      | 10.43%                | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                      | FSWP: OIS 8.745000 17-SEP-2026 IBR                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |    174619821 | OU      | $847.47       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DEUCE FINCO                                                      | Deuce Finco PLC                                                                  | CUSIP: 000000000<br>LEI: 9845007DA2BC863E8437 | Long             | DBT              | CORP              | GB        |      8332000 | PA      | $11323107.72  | 0.07%             | 2031-11-20      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DE               |  | US        |    154162328 | OU      | $2398608.01   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 42 Senior Loan Fund                                                       | CUSIP: 26244YBE5<br>LEI: 549300GTVIVSKVBYOB52 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1004526.90   | 0.01%             | 2037-07-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.105000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     10989734 | OU      | $-55330.82    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BPR Trust                                                        | BPR Commercial Mortgage Trust 2024-PARK                                          | CUSIP: 05593UAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4050000 | PA      | $4193644.59   | 0.02%             | 2039-11-05      | Variable      | 7.23%                 | No            |                  2 | On Loan: No      |
| HTL Commercial Mortgage Trust                                    | HTL Commercial Mortgage Trust 2024-T53                                           | CUSIP: 404300AJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $3044794.20   | 0.02%             | 2039-05-10      | Variable      | 10.60%                | No            |                  2 | On Loan: No      |
| East One                                                         | East One 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800NEAFVXSQQHPC92 | Long             | ABS-MBS          | CORP              | GB        |      7134784 | PA      | $9738548.24   | 0.06%             | 2058-02-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| HILL FL                                                          | Hill FL 2024-2 BV                                                                | CUSIP: 000000000<br>LEI: 724500H2AN902EY7W191 | Long             | ABS-O            | CORP              | NL        |       960680 | PA      | $1127304.47   | 0.01%             | 2032-10-18      | Floating      | 2.72%                 | No            |                  2 | On Loan: No      |
| CITYCON TREASURY BV                                              | Citycon Treasury BV                                                              | CUSIP: 000000000<br>LEI: 549300WAE0CGQ0IE1H63 | Long             | DBT              | CORP              | NL        |       297000 | PA      | $344467.80    | 0.00%             | 2027-01-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HKJ62<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3086921 | PA      | $3131431.45   | 0.02%             | 2055-03-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| DARLING GLOBAL FINANCE                                           | Darling Global Finance BV                                                        | CUSIP: 000000000<br>LEI: 724500R2BQXOR6YG2Y67 | Long             | DBT              | CORP              | NL        |      3018000 | PA      | $3567881.00   | 0.02%             | 2032-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                                   | Whirlpool Corp                                                                   | CUSIP: 963320BE5<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |      3512000 | PA      | $3363662.43   | 0.02%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Deutsche Bank AG                                                 | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |            1 | NC      | $4539819.54   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |       689000 | PA      | $630768.06    | 0.00%             | 2032-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                               | Subway Funding LLC                                                               | CUSIP: 864300AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1095320 | PA      | $1103283.85   | 0.01%             | 2054-07-30      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| FS Trust                                                         | FS 2026-ORL                                                                      | CUSIP: 30343YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9900000 | PA      | $9896906.25   | 0.06%             | 2041-02-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                                           | SLM Private Education Loan Trust 2010-C                                          | CUSIP: 78445QAE1<br>LEI: 549300JEA36NHBYED811 | Long             | ABS-O            | CORP              | US        |      2189287 | PA      | $2294561.96   | 0.01%             | 2041-10-15      | Floating      | 8.52%                 | No            |                  2 | On Loan: No      |
| ING GROEP NV                                                     | ING Groep NV                                                                     | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | DBT              | CORP              | NL        |      2750000 | PA      | $2889112.49   | 0.02%             | 2034-11-16      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Bellis Acquisition Company PLC                                   | Bellis Acquisition Company PLC 2024 EUR Term Loan B                              | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | LON              | CORP              | GB        |      2000000 | PA      | $2139868.53   | 0.01%             | 2031-05-14      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                             | Neptune Bidco US Inc 2026 EUR Term Loan B                                        | CUSIP: 64069JAJ1<br>LEI: 549300VG15T3VCYZ4531 | Long             | LON              | CORP              | US        |      1500000 | PA      | $1749031.45   | 0.01%             | 2033-02-03      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| Ecuador Government International Bonds                           | Ecuador Government International Bonds                                           | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |      1627064 | PA      | $1508288.33   | 0.01%             | 2035-07-31      | Fixed         | 6.90%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                             | Bank of America Corp                                                             | CUSIP: 06051GHD4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     10270000 | PA      | $10100333.03  | 0.06%             | 2028-12-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| Concord Music Royalties, LLC                                     | Concord Music Royalties LLC                                                      | CUSIP: 20633KAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1013000 | PA      | $1018042.00   | 0.01%             | 2074-10-20      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                            | Melco Resorts Finance Ltd                                                        | CUSIP: 58547DAJ8<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |       673000 | PA      | $667111.25    | 0.00%             | 2033-09-24      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Bridge Street CLO                                                | Bridge Street CLO V Ltd                                                          | CUSIP: 107921AJ7<br>LEI: 254900PNW8DFFG2S8664 | Long             | ABS-CBDO         | CORP              | KY        |      3800000 | PA      | $3805810.20   | 0.02%             | 2038-04-20      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD CLP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $24708.48     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2021-3                                                  | CUSIP: 03465EAA9<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      6167482 | PA      | $5356387.46   | 0.03%             | 2066-05-25      | Variable      | 1.07%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                                           | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AP9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4161000 | PA      | $4442966.00   | 0.03%             | 2030-06-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Finance Ireland Auto Receivables DAC                             | Finance Ireland Auto Receivables No 2 DAC                                        | CUSIP: 000000000<br>LEI: 635400CQQYNH7KEIXW17 | Long             | ABS-O            | CORP              | IE        |       182013 | PA      | $213380.12    | 0.00%             | 2034-11-14      | Floating      | 2.90%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.670000 18-MAR-2031 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    108289426 | OU      | $257038.15    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust                                     | WinWater Mortgage Loan Trust 2014-1                                              | CUSIP: 97652PAA9<br>LEI: 5493002CYMIHYUBDIR84 | Long             | ABS-MBS          | CORP              | US        |       376102 | PA      | $363431.81    | 0.00%             | 2044-06-20      | Variable      | 3.93%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                                           | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAD5<br>LEI: N/A                  | Long             | DBT              |  | US        |      1516000 | PA      | $1547734.43   | 0.01%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2021-A                                          | CUSIP: 78448YAM3<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      1704045 | PA      | $1688693.17   | 0.01%             | 2053-01-15      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| CELLNEX FINANCE CO SA                                            | Cellnex Finance Co SA                                                            | CUSIP: 000000000<br>LEI: 549300OUROMFTRFA7T23 | Long             | DBT              | CORP              | ES        |      4900000 | PA      | $5560523.47   | 0.03%             | 2036-01-19      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Issuer Trust 2025-1                                    | CUSIP: 39571NAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       508786 | PA      | $511070.72    | 0.00%             | 2060-03-25      | Fixed         | 5.22%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                                              | Sound Point Clo XXI Ltd                                                          | CUSIP: 83613HAL1<br>LEI: 5493001O6AOY43J70E72 | Long             | ABS-CBDO         | CORP              | KY        |       947802 | PA      | $948491.42    | 0.01%             | 2031-10-26      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                         | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 74984CAA6<br>LEI: N/A                  | Long             | DBT              |  | US        |      1568000 | PA      | $1558604.34   | 0.01%             | 2034-03-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| AXALTA COATING SYSTEMS D                                         | Axalta Coating Systems Dutch Holding B BV                                        | CUSIP: 05455JAA5<br>LEI: 5493007DMEBZH3CQ5E51 | Long             | DBT              | CORP              | NL        |       506000 | PA      | $525424.88    | 0.00%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SCENTRE GROUP TRST 1                                             | Scentre Group Trust 1                                                            | CUSIP: 000000000<br>LEI: 549300SQ859FBKRKSI77 | Long             | DBT              |  | AU        |     14000000 | PA      | $9378085.44   | 0.06%             | 2035-09-18      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.                                             | Birch Grove Clo 11 Ltd                                                           | CUSIP: 09077YAA2<br>LEI: 2549009HQHT8KMO8YJ79 | Long             | ABS-CBDO         | CORP              | KY        |      1650000 | PA      | $1654183.41   | 0.01%             | 2038-01-22      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| BELLIS ACQUISITION CO PL                                         | Bellis Acquisition Co PLC                                                        | CUSIP: 000000000<br>LEI: 259400CYE2267UB4A481 | Long             | DBT              | CORP              | GB        |      4449000 | PA      | $4977666.74   | 0.03%             | 2031-07-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Noria                                                            | FCT Noria 2025                                                                   | CUSIP: 000000000<br>LEI: 5493003C5ECZD3NDSV63 | Long             | ABS-O            | CORP              | FR        |       300000 | PA      | $351276.99    | 0.00%             | 2043-07-25      | Floating      | 2.87%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2025-7 Mortgage Loan Trust                                                  | CUSIP: 19689CAA9<br>LEI: 213800DOQUYA3TO33M98 | Long             | ABS-MBS          | CORP              | US        |      6778133 | PA      | $6809775.13   | 0.04%             | 2070-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                          | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    125807400 | PA      | $7261913.39   | 0.04%             | 2029-03-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| BMP Trust                                                        | BMP 2024-MF23                                                                    | CUSIP: 05593JAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2380000 | PA      | $2375643.17   | 0.01%             | 2041-06-15      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| HILL FL                                                          | Hill FL 2025-1 BV                                                                | CUSIP: 000000000<br>LEI: 72450069R7MTUFTXDC59 | Long             | ABS-O            | CORP              | NL        |       842000 | PA      | $988725.92    | 0.01%             | 2032-10-18      | Floating      | 2.95%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                                           | Energizer Holdings Inc                                                           | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |       680000 | PA      | $654140.48    | 0.00%             | 2029-03-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| AMPOL LTD                                                        | Ampol Ltd                                                                        | CUSIP: 000000000<br>LEI: 5493009TD1CGVRZ27U11 | Long             | DBT              | CORP              | AU        |      2450000 | PA      | $1664042.45   | 0.01%             | 2055-10-30      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                | EURO-BUND FUTURE JUN26                                                           | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |          611 | NC      | $-335112.43   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                             | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |      2660000 | PA      | $2658341.76   | 0.02%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| BOEING CO/THE                                                    | Boeing Co/The                                                                    | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |        12300 | NS      | $888060.00    | 0.01%             |  |  |  | No            |                  1 | On Loan: —       |
| DEUTSCHE BANK AG                                                 | Deutsche Bank AG                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |      2800000 | PA      | $2970536.80   | 0.02%             | 2030-04-30      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2025-DSC2                                    | CUSIP: 36275JAC4<br>LEI: 254900Y4XCLF0D6VBG48 | Long             | ABS-MBS          | CORP              | US        |     13258667 | PA      | $13200719.83  | 0.08%             | 2066-01-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| Meridian Funding 2025-1 PLC                                      | Meridian Funding 2025-1 PLC                                                      | CUSIP: 000000000<br>LEI: 6354007VNVP2YBYBAX64 | Long             | ABS-MBS          | CORP              | GB        |       470000 | PA      | $639219.16    | 0.00%             | 2068-02-20      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | 2Y RTP 3.850000 21-OCT-2026                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | KY        |   -630344000 | OU      | $-2336105.29  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2023-4 Mortgage Loan Trust                                                  | CUSIP: 12598WAD4<br>LEI: 213800EHDFO4A3F7P416 | Long             | ABS-MBS          | CORP              | US        |      2000000 | PA      | $2022465.60   | 0.01%             | 2068-10-25      | Variable      | 8.21%                 | No            |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                                                 | Ziggo Bond Co BV                                                                 | CUSIP: 000000000<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |      3896000 | PA      | $3984253.94   | 0.02%             | 2030-02-28      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                             | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AQ4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |      1122000 | PA      | $1143356.90   | 0.01%             | 2029-11-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-4                                    | CUSIP: 92262JAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       996370 | PA      | $976655.54    | 0.01%             | 2055-09-25      | Variable      | 9.35%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-1076936.93  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                         | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 000000000<br>LEI: 5493000GJYE7GAQCUC61 | Long             | DBT              | CORP              | US        |     11019000 | PA      | $13338261.91  | 0.08%             | 2030-12-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Stratton Mortgage Funding PLC                                    | Stratton Mortgage Funding 2024-3 PLC                                             | CUSIP: 000000000<br>LEI: 635400HN3D5CAXKQB937 | Long             | ABS-MBS          | CORP              | GB        |       314013 | PA      | $427490.14    | 0.00%             | 2049-06-25      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| STELLANTIS NV                                                    | Stellantis NV                                                                    | CUSIP: 000000000<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | DBT              | CORP              | NL        |      9794000 | PA      | $11276510.32  | 0.07%             | 2031-03-16      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F042657<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     46634000 | PA      | $44852845.61  | 0.27%             | 2056-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AMC GLOBAL MEDIA INC                                             | AMC Global Media Inc                                                             | CUSIP: 00164VAK9<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |      3999000 | PA      | $4122445.45   | 0.02%             | 2032-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| Ajax Mortgage Loan Trust                                         | Ajax Mortgage Loan Trust 2022-B                                                  | CUSIP: 00971BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2809966 | PA      | $2721150.05   | 0.02%             | 2062-03-27      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| BOS Trust 2026-LYRK                                              | BOS Trust 2026-LYRK                                                              | CUSIP: 05595BAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $996366.90    | 0.01%             | 2041-05-11      | Variable      | 8.04%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                            | KKR CLO 59 Ltd                                                                   | CUSIP: 48257KAA2<br>LEI: 254900974UU3OEPQ5P61 | Long             | ABS-CBDO         | CORP              | KY        |      3250000 | PA      | $3254507.43   | 0.02%             | 2039-01-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| VIRGIN MEDIA SECURED FIN                                         | Virgin Media Secured Finance PLC                                                 | CUSIP: 92769XAR6<br>LEI: 213800X3RLP4NOTPY579 | Long             | DBT              | CORP              | GB        |       400000 | PA      | $354043.32    | 0.00%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Service Experts Issuer                                           | Service Experts Issuer 2024-1 LLC                                                | CUSIP: 81758FAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       746559 | PA      | $760257.63    | 0.00%             | 2035-11-20      | Fixed         | 6.39%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2024-D                                          | CUSIP: 83207QAB5<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       383817 | PA      | $383031.33    | 0.00%             | 2053-07-15      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                         | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       817000 | PA      | $816889.87    | 0.00%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                                              | BWAY Trust 2025-1535                                                             | CUSIP: 12430BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5867000 | PA      | $5927641.31   | 0.04%             | 2042-05-05      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2022-1                                    | CUSIP: 92258XAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       208181 | PA      | $173966.41    | 0.00%             | 2052-02-25      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                                           | Commonwealth Bank of Australia                                                   | CUSIP: 000000000<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |       570000 | PA      | $410638.34    | 0.00%             | 2036-03-05      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2022-3 Mortgage Loan Trust                                                  | CUSIP: 12659YAA2<br>LEI: 2138001HZNOLT1K3WY73 | Long             | ABS-MBS          | CORP              | US        |       127519 | PA      | $125082.60    | 0.00%             | 2067-02-25      | Variable      | 4.22%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-C                                                 | CUSIP: 64035GAA7<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      2484527 | PA      | $2472344.29   | 0.01%             | 2062-04-20      | Floating      | 4.52%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes                        | Arbor Realty Commercial Real Estate Notes 2025-FL1 LLC                           | CUSIP: 03881KAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      7313000 | PA      | $7303042.62   | 0.04%             | 2043-01-20      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2024-3 Ltd                                            | CUSIP: 69690EAJ8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $4997499.00   | 0.03%             | 2032-08-08      | Floating      | 4.48%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2025-NQM1                                    | CUSIP: 64832DAF8<br>LEI: 213800CZKHCTHKMD9W65 | Long             | ABS-MBS          | CORP              | US        |      2171711 | PA      | $2205325.61   | 0.01%             | 2065-01-25      | Variable      | 6.47%                 | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited                  | Homes 2024-Nqm2 Trust                                                            | CUSIP: 43761CAA0<br>LEI: 254900MQRASV1D1NGZ28 | Long             | ABS-MBS          | CORP              | US        |      8056198 | PA      | $8102017.85   | 0.05%             | 2069-10-25      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust 2021-909                           | NYC Commercial Mortgage Trust 2025-300P                                          | CUSIP: 67121TAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3179000 | PA      | $3180971.30   | 0.02%             | 2042-07-13      | Variable      | 7.39%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC LLC/INC                                         | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc        | CUSIP: 43284MAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2192000 | PA      | $2028512.97   | 0.01%             | 2031-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| OPAL BIDCO                                                       | OPAL BIDCO                                                                       | CUSIP: 68348BAA1<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |      1564000 | PA      | $1592280.25   | 0.01%             | 2032-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO VI Ltd                                                              | CUSIP: 89640YBW3<br>LEI: 549300IUAXGLQ814UD95 | Long             | ABS-CBDO         | CORP              | KY        |      1200000 | PA      | $1157117.28   | 0.01%             | 2034-01-25      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-MF                                             | CUSIP: 05612EAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1328182 | PA      | $1324055.96   | 0.01%             | 2039-02-15      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: EUR 2.200000 04-JUN-2030 EUR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     17390477 | OU      | $-286918.46   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                | Post Holdings Inc                                                                | CUSIP: 737446AY0<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |      2620000 | PA      | $2602775.86   | 0.02%             | 2036-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EQUINIX EU 2 FINANCING C                                         | Equinix Europe 2 Financing Corp LLC                                              | CUSIP: 000000000<br>LEI: 254900FSZR46BPMCKI50 | Long             | DBT              |  | US        |      6500000 | PA      | $7484117.77   | 0.04%             | 2031-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | Fondo de Titulizacion Santander Consumo 9                                        | CUSIP: 000000000<br>LEI: 959800RE2YA509E01X80 | Long             | ABS-O            | CORP              | ES        |       200000 | PA      | $234831.34    | 0.00%             | 2040-10-25      | Floating      | 3.43%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO XXIV Ltd                                                        | CUSIP: 09609NAN5<br>LEI: 549300NUS8PQQUZMPR50 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250514.23    | 0.00%             | 2034-04-20      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF MOZAMBIQUE                                           | Mozambique International Bond                                                    | CUSIP: 000000000<br>LEI: 213800759WLKYIKPER73 | Long             | DBT              | NUSS              | MZ        |      1377000 | PA      | $1124416.89   | 0.01%             | 2031-09-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners Clo XXII Ltd                                             | CUSIP: 08186UBA9<br>LEI: 254900TPMKEES6UQHQ33 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $998230.00    | 0.01%             | 2035-04-20      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Merit                                                            | MHP 2021-STOR                                                                    | CUSIP: 55293BAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1300000 | PA      | $1299187.50   | 0.01%             | 2038-07-15      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO XVI, LTD.                                       | Sixth Street CLO XIV Ltd                                                         | CUSIP: 83013NAC4<br>LEI: 2549009LM706L5P4IH84 | Long             | ABS-CBDO         | CORP              | KY        |      5200000 | PA      | $5194795.84   | 0.03%             | 2038-01-20      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.285000 31-AUG-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     81892982 | OU      | $12081.01     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | Csmc 2022-Nqm1 Trust                                                             | CUSIP: 126416AA4<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      7262110 | PA      | $6580216.45   | 0.04%             | 2066-11-25      | Variable      | 3.27%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                              | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | N/A              | DFE              |  | US        |            1 | NC      | $-58178214.45 | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| Fulvia SPV SRL                                                   | Fulvia Spv Srl                                                                   | CUSIP: 000000000<br>LEI: 815600283046823DB425 | Long             | ABS-O            | CORP              | IT        |        91302 | PA      | $107172.53    | 0.00%             | 2041-12-23      | Floating      | 3.26%                 | No            |                  2 | On Loan: No      |
| Galaxy CLO Ltd                                                   | Galaxy 34 Clo Ltd                                                                | CUSIP: 36322AAE2<br>LEI: 3912002JK68FWHXUMG23 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004958.60   | 0.01%             | 2037-10-20      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| SECTOR ALARM HOLDING AS                                          | Sector Alarm Holding AS 2026 EUR Term Loan B                                     | CUSIP: 000000000<br>LEI: 549300YUOBFVB7TE8510 | Long             | LON              | CORP              | NO        |      1000000 | PA      | $1171325.86   | 0.01%             | 2032-06-14      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| QNITY ELECTRONICS INC                                            | Qnity Electronics Inc                                                            | CUSIP: 74743LAB6<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |      1041000 | PA      | $1065074.17   | 0.01%             | 2033-08-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| BOOTS GROUP FINCO LP                                             | Boots Group Finco LP                                                             | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |      8088000 | PA      | $11192066.34  | 0.07%             | 2032-08-31      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2022-NQM1 Trust                                                             | CUSIP: 69378KAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2619086 | PA      | $2612761.13   | 0.02%             | 2067-08-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| IMCD NV                                                          | IMCD NV                                                                          | CUSIP: 000000000<br>LEI: 724500NSJPNFJPDAUP02 | Long             | DBT              | CORP              | NL        |     16500000 | PA      | $19194498.19  | 0.11%             | 2030-04-30      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                        | Towd Point Mortgage Trust 2018-2                                                 | CUSIP: 89175VAB9<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |      1500000 | PA      | $1465628.40   | 0.01%             | 2058-03-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HHSE2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4651970 | PA      | $4712782.58   | 0.03%             | 2054-04-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Mortimer BTL Plc                                                 | Mortimer 2024-Mix PLC                                                            | CUSIP: 000000000<br>LEI: 213800F12CZ391USLI51 | Long             | ABS-MBS          | CORP              | GB        |       561000 | PA      | $764008.85    | 0.00%             | 2067-09-22      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                               | Howard Hughes Corp/The                                                           | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |      1618000 | PA      | $1515007.67   | 0.01%             | 2031-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CESAR SPA                                                        | Cesar Spa                                                                        | CUSIP: 000000000<br>LEI: 815600136D7200E49057 | Long             | DBT              | CORP              | IT        |      3894000 | PA      | $4611861.24   | 0.03%             | 2031-09-30      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| DYNAMO NEWCO II GMBH                                             | Dynamo Newco II GmbH                                                             | CUSIP: 000000000<br>LEI: 391200FDSPYB8FKV7F97 | Long             | DBT              | CORP              | DE        |      4591000 | PA      | $4767891.89   | 0.03%             | 2031-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FS KKR CAPITAL CORP                                              | FS KKR Capital Corp                                                              | CUSIP: 302635AN7<br>LEI: 549300TYRSI1T21B1360 | Long             | DBT              | CORP              | US        |      2697000 | PA      | $2688543.02   | 0.02%             | 2029-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| STREAM INNOVATIONS ISSUER TRUST                                  | Stream Innovations 2025-1 Issuer Trust                                           | CUSIP: 86324XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1570154 | PA      | $1571379.79   | 0.01%             | 2045-09-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                                   | CarVal CLO I Ltd                                                                 | CUSIP: 146865AJ9<br>LEI: 254900BP8W72BUIJ5588 | Long             | ABS-CBDO         | CORP              | KY        |       721934 | PA      | $721961.17    | 0.00%             | 2031-07-16      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| BRENNTAG FINANCE BV                                              | Brenntag Finance BV                                                              | CUSIP: 000000000<br>LEI: 724500LOJA6NM43PH951 | Long             | DBT              | CORP              | NL        |       900000 | PA      | $1065454.69   | 0.01%             | 2028-04-24      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD MXN                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $978567.46    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Domi                                                             | Domi 2025-1 BV                                                                   | CUSIP: 000000000<br>LEI: 72450072GIRER22FKI26 | Long             | ABS-MBS          | CORP              | NL        |      1396783 | PA      | $1641791.01   | 0.01%             | 2057-04-16      | Floating      | 2.91%                 | No            |                  2 | On Loan: No      |
| Quimper AB                                                       | Quimper AB 2026 EUR Term Loan B                                                  | CUSIP: 000000000<br>LEI: 549300EI2YNCQDXVO313 | Long             | LON              | CORP              | SE        |      1500000 | PA      | $1759840.76   | 0.01%             | 2030-03-31      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                                           | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       990000 | PA      | $1015691.49   | 0.01%             | 2028-06-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: —       |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 77 B Ltd                                              | CUSIP: 38180QAE4<br>LEI: 254900Q9J0ZXOH0PUQ28 | Long             | ABS-CBDO         | CORP              | KY        |      2800000 | PA      | $2791668.32   | 0.02%             | 2038-01-25      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| NEW IMMO HOLDING SA                                              | New Immo Holding SA                                                              | CUSIP: 000000000<br>LEI: 5493007LOTJ0I8E94R81 | Long             | DBT              | CORP              | FR        |      2800000 | PA      | $3248359.21   | 0.02%             | 2030-11-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                                         | Sensata Technologies Inc                                                         | CUSIP: 81728UAC8<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |      1872000 | PA      | $1931494.03   | 0.01%             | 2032-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| Flatiron CLO Ltd                                                 | Flatiron CLO 28 Ltd                                                              | CUSIP: 33884EAQ4<br>LEI: 254900U51J2X527SRJ56 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1000053.70   | 0.01%             | 2036-07-15      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD INR                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $83949.82     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COOPERATIEVE RABOBANK UA                                         | Cooperatieve Rabobank UA                                                         | CUSIP: 000000000<br>LEI: DG3RU1DBUFHT4ZF9WN62 | Long             | DBT              | CORP              | NL        |      1200000 | PA      | $1408399.34   | 0.01%             | 2026-12-29      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Venture CDO Ltd                                                  | Venture 34 CLO Ltd                                                               | CUSIP: 92332CAE9<br>LEI: 549300MYRV6PEDBLPL32 | Long             | ABS-CBDO         | CORP              | KY        |      3310423 | PA      | $3313356.78   | 0.02%             | 2031-10-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.205000 17-SEP-2026 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     25717710 | OU      | $-157772.91   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD CZK                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-110305.79   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                             | ITRAXX.XO.44.V1 5YR RTR @ 300.0000                                               | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DCR              |  | KY        |    -37026000 | OU      | $-838181.14   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                                     | SM Energy Co                                                                     | CUSIP: 78454LAY6<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |      1519000 | PA      | $1559282.36   | 0.01%             | 2032-08-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                               | Angolan Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |      5146000 | PA      | $5275524.82   | 0.03%             | 2028-05-09      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Pikes Peak CLO                                                   | Pikes Peak Clo 15 2023 Ltd                                                       | CUSIP: 720922AL7<br>LEI: 213800Z4RS2ZM3411T95 | Long             | ABS-CBDO         | CORP              | JE        |      3500000 | PA      | $3505061.35   | 0.02%             | 2038-10-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $-253154.43   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $4544088.68   | 0.03%             |  |  |  | No            |                  2 | On Loan: No      |
| ELECTRONIC ARTS INC                                              | ELECTRONIC ARTS INC EUR TERM LOAN B                                              | CUSIP: 000000000<br>LEI: 6488ICS9P20290MA1H31 | Long             | LON              | CORP              | US        |      2500000 | PA      | $2932305.06   | 0.02%             | 2033-03-24      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| BETCLIC EVEREST GROUP                                            | Betclic Everest Group 2026 EUR Term Loan B                                       | CUSIP: 000000000<br>LEI: 96950037FKVH5JOEKU82 | Long             | LON              | CORP              | FR        |     12219018 | PA      | $14330664.65  | 0.08%             | 2031-12-10      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                             | Sofi Professional Loan Program 2018-C Trust                                      | CUSIP: 78490DAB0<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |         9949 | PA      | $9910.03      | 0.00%             | 2048-01-25      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                                           | SLM Private Credit Student Loan Trust 2006-A                                     | CUSIP: 78443CCL6<br>LEI: 549300I2YWZ9E1B0EY33 | Long             | ABS-O            | CORP              | US        |        65451 | PA      | $64189.95     | 0.00%             | 2039-06-15      | Floating      | 4.23%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                           | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAF4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |     10851000 | PA      | $10341664.91  | 0.06%             | 2030-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | XX        |            1 | NC      | $872658.23    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-LIFE                                                               | CUSIP: 05616HAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10000000 | PA      | $9984615.00   | 0.06%             | 2047-06-13      | Variable      | 6.08%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 5.874700 18-MAR-2028 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    929642944 | OU      | $-25329.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                                  | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AC8<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |       100000 | PA      | $99295.20     | 0.00%             | 2028-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SONA FIOS CLO                                                    | Sona Fios Clo III DAC                                                            | CUSIP: 000000000<br>LEI: 635400CQGC8D7FRXGH67 | Long             | ABS-CBDO         | CORP              | IE        |      1800000 | PA      | $2122657.59   | 0.01%             | 2037-04-20      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                            | Silver Point CLO 12 Ltd                                                          | CUSIP: 82809MAA0<br>LEI: 254900U97WKD6RJ07L38 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2506057.25   | 0.01%             | 2038-10-15      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HJAC1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3890856 | PA      | $3943015.82   | 0.02%             | 2054-10-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                      | FIGRE Trust 2026-HE2                                                             | CUSIP: 31684VAC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6909465 | PA      | $6854103.40   | 0.04%             | 2056-01-25      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| Cardiff Automobile Receivables Securitisation                    | Cardiff Auto Receivables Securitisation 2024-1 PLC                               | CUSIP: 000000000<br>LEI: 6354006GQBBANLIO8R45 | Long             | ABS-O            | CORP              | GB        |       381000 | PA      | $519898.84    | 0.00%             | 2031-08-20      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2025-1 PLC                                                               | CUSIP: 000000000<br>LEI: 635400MKPQQD5URNMC45 | Long             | ABS-MBS          | CORP              | GB        |      1683327 | PA      | $2292173.47   | 0.01%             | 2068-02-26      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-P2                                   | CUSIP: 92262XAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2730934 | PA      | $2700061.49   | 0.02%             | 2055-10-25      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| AUSNET SERVICES HOLDINGS                                         | AusNet Services Holdings Pty Ltd                                                 | CUSIP: 000000000<br>LEI: TTMIG9TE1S0X3ZPDHD61 | Long             | DBT              | CORP              | AU        |      1680000 | PA      | $1172892.15   | 0.01%             | 2056-02-04      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Regatta XII Funding Ltd.                                         | Regatta XII Funding Ltd                                                          | CUSIP: 75888HAW1<br>LEI: 2549001ZYXDVCT6R4I31 | Long             | ABS-CBDO         | CORP              | KY        |      3540000 | PA      | $3546845.65   | 0.02%             | 2037-10-15      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Bolivia Government International Bonds                           | Bolivia Government International Bonds                                           | CUSIP: 000000000<br>LEI: 529900TGIRPY3SZXEB56 | Long             | DBT              | NUSS              | BO        |      2878144 | PA      | $2780287.01   | 0.02%             | 2028-03-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                      | PRKCM 2021-AFC2 Trust                                                            | CUSIP: 69361JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3290761 | PA      | $2908579.34   | 0.02%             | 2056-11-25      | Variable      | 2.07%                 | No            |                  2 | On Loan: No      |
| Think Tank Commerical Trust                                      | Think Tank Commercial Series 2025-3 Trust                                        | CUSIP: 000000000<br>LEI: 9845002A6BC1AY0V5B76 | Long             | ABS-MBS          | CORP              | AU        |      1294850 | PA      | $932460.39    | 0.01%             | 2057-12-10      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                           | US 10YR NOTE (CBT)JUN26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |       -13508 | NC      | $23766374.10  | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| B&M EUROPEAN VALUE RET                                           | B&M European Value Retail plc                                                    | CUSIP: 000000000<br>LEI: 213800UK7ZRLY2K1X530 | Long             | DBT              | CORP              | JE        |      6185000 | PA      | $8009526.89   | 0.05%             | 2031-11-27      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2025-1 PLC                                                               | CUSIP: 000000000<br>LEI: 635400MKPQQD5URNMC45 | Long             | ABS-MBS          | CORP              | GB        |       108000 | PA      | $148235.42    | 0.00%             | 2068-02-26      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                           | Cloud Software Group Inc                                                         | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     11267000 | PA      | $11062899.87  | 0.07%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Dominican Republic International Bonds                           | Dominican Republic International Bonds                                           | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |      4100000 | PA      | $3952400.00   | 0.02%             | 2030-01-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| MDGH GMTN RSC LTD                                                | MDGH GMTN RSC Ltd                                                                | CUSIP: 55285GAD6<br>LEI: 213800WRY6FRL9IXLT77 | Long             | DBT              | CORP              | AE        |       542000 | PA      | $519712.96    | 0.00%             | 2033-11-22      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                             | Deephaven Residential Mortgage Trust 2025-CES1                                   | CUSIP: 24380WAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9899030 | PA      | $9880571.81   | 0.06%             | 2055-10-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                                              | NOVA Chemicals Corp                                                              | CUSIP: 66977WAU3<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |      3329000 | PA      | $3510886.57   | 0.02%             | 2030-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Sage AR Funding 2025 No 1 Plc                                    | Sage AR Funding                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |      1836843 | PA      | $2498294.45   | 0.01%             | 2037-05-17      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                                              | Churchill Downs Inc                                                              | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |      1276000 | PA      | $1274809.87   | 0.01%             | 2027-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XXXVII Ltd                                                  | CUSIP: 55817EBA3<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1501741.95   | 0.01%             | 2037-04-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Dowson 2026-1 Plc                                                | Dowson 2026-1 PLC                                                                | CUSIP: 000000000<br>LEI: 213800ARUDISHV4A5218 | Long             | ABS-O            | CORP              | GB        |       398000 | PA      | $541574.59    | 0.00%             | 2033-05-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2025-1                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |       317000 | PA      | $431396.05    | 0.00%             | 2033-04-15      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Allied Credit Trust                                              | Allied Credit ABS Trust 2026-1                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | AU        |       525000 | PA      | $376968.43    | 0.00%             | 2034-04-17      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Jubilee Place                                                    | Jubilee Place 7 BV                                                               | CUSIP: 000000000<br>LEI: 724500E73QDBSXZ44959 | Long             | ABS-MBS          | CORP              | NL        |       257000 | PA      | $301107.96    | 0.00%             | 2062-09-18      | Floating      | 3.21%                 | No            |                  2 | On Loan: No      |
| Seagate Data Storage Technology Pte Ltd                          | SEAGATE DATA STOR                                                                | CUSIP: 81180LAQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |      1559000 | PA      | $1633018.20   | 0.01%             | 2031-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | XX        |            1 | NC      | $227770.69    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                | Post Holdings Inc                                                                | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |      1258000 | PA      | $1222190.02   | 0.01%             | 2030-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                                   | ARES Commercial Mortgage Trust 2024-IND                                          | CUSIP: 03990DAQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1500000 | PA      | $1500217.05   | 0.01%             | 2041-07-15      | Floating      | 7.59%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO Ltd                                                | Park Blue Clo 2024-V Ltd                                                         | CUSIP: 70019CAA3<br>LEI: 213800H9UFJ6SS8AMF70 | Long             | ABS-CBDO         | CORP              | KY        |      9240000 | PA      | $9254261.94   | 0.05%             | 2037-07-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Sycamore Tree CLO Ltd                                            | Sycamore Tree CLO 2025-6 Ltd                                                     | CUSIP: 87122HAA0<br>LEI: 2138001M3BAXCUCAUG38 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3002221.20   | 0.02%             | 2038-04-20      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| UK Logisitics                                                    | UK Logistics 2024-2 DAC                                                          | CUSIP: 000000000<br>LEI: 635400LLQ82YFJBFFU27 | Long             | ABS-MBS          | CORP              | GB        |        85043 | PA      | $114921.22    | 0.00%             | 2035-02-17      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| ASHTON WOODS USA/FINANCE                                         | Ashton Woods USA LLC / Ashton Woods Finance Co                                   | CUSIP: 045086AP0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       510000 | PA      | $485569.22    | 0.00%             | 2030-04-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                               | Chase Home Lending Mortgage Trust Series 2024-1                                  | CUSIP: 16160DAB9<br>LEI: 529900A7SLLSJMEDIN80 | Long             | ABS-MBS          | CORP              | US        |      1089809 | PA      | $1098848.56   | 0.01%             | 2055-01-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | FSWP: OIS 9.370000 17-DEC-2027 IBR                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |  29383669825 | OU      | $-353729.51   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NATWEST GROUP PLC                                                | NatWest Group PLC                                                                | CUSIP: 000000000<br>LEI: 2138005O9XJIJN4JPN90 | Long             | DBT              | CORP              | GB        |      7100000 | PA      | $8258112.71   | 0.05%             | 2035-02-25      | Fixed         | 3.72%                 | No            |                  2 | On Loan: No      |
| VIVION INVESTMENTS                                               | Vivion Investments Sarl                                                          | CUSIP: 000000000<br>LEI: 529900SJ7X71ESJK9N76 | Long             | DBT              | CORP              | LU        |      8963811 | PA      | $10549677.95  | 0.06%             | 2029-02-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| AIR FRANCE-KLM                                                   | Air France-KLM                                                                   | CUSIP: 000000000<br>LEI: 969500AQW31GYO8JZD66 | Long             | DBT              | CORP              | FR        |     10200000 | PA      | $11506862.68  | 0.07%             | 2030-05-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2024-37 Ltd                                                              | CUSIP: 67120AAA9<br>LEI: 213800VGDQYISNVLCT08 | Long             | ABS-CBDO         | CORP              | JE        |      2750000 | PA      | $2756876.65   | 0.02%             | 2037-10-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2024-6 Mortgage Loan Trust                                                  | CUSIP: 19688XAA4<br>LEI: 213800U2X2TO1PQH1O75 | Long             | ABS-MBS          | CORP              | US        |      4027660 | PA      | $4041121.68   | 0.02%             | 2069-11-25      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                                            | Freedom Mortgage Corp                                                            | CUSIP: 35640YAL1<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |       100000 | PA      | $108526.00    | 0.00%             | 2030-10-01      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                              | COMM 2024-CBM Mortgage Trust                                                     | CUSIP: 12674GAC8<br>LEI: 5493004GWEVMOU8S3L34 | Long             | ABS-MBS          | CORP              | US        |      8550000 | PA      | $8557326.50   | 0.05%             | 2041-12-10      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2025-NQM4                                    | CUSIP: 64832FAC0<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      4127485 | PA      | $4139702.42   | 0.02%             | 2065-07-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-9922.57     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEPTUNE BIDCO US INC                                             | Neptune Bidco US Inc                                                             | CUSIP: 640695AC6<br>LEI: 549300VG15T3VCYZ4531 | Long             | DBT              | CORP              | US        |      2939000 | PA      | $3032962.77   | 0.02%             | 2031-05-15      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                                         | Graphic Packaging International LLC                                              | CUSIP: 38869AAD9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |       996000 | PA      | $930267.69    | 0.01%             | 2030-02-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| FIRSTCASH INC                                                    | FirstCash Inc                                                                    | CUSIP: 33767DAD7<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |      2298000 | PA      | $2355175.73   | 0.01%             | 2032-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Ellington Financial Mortgage Trust                               | EFMT 2024-NQM1                                                                   | CUSIP: 26845DAA3<br>LEI: 254900GTI06L3BTCLG55 | Long             | ABS-MBS          | CORP              | US        |      3591333 | PA      | $3611248.90   | 0.02%             | 2069-11-25      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO VII Ltd.                                             | Elmwood CLO VII Ltd                                                              | CUSIP: 29002QAS8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001941.00   | 0.01%             | 2037-10-17      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| CONTINUUM ENERGY PTE LTD                                         | CONTINUUM ENERGY PTE LTD                                                         | CUSIP: 211926AA8<br>LEI: 254900MLJ5CQ9QU8DV90 | Long             | DBT              | CORP              | SG        |      1854068 | PA      | $1854068.00   | 0.01%             | 2027-09-11      | Variable      | 12.85%                | No            |                  3 | On Loan: —       |
| VB-S1 Issuer LLC                                                 | VB-S1 Issuer LLC                                                                 | CUSIP: 91825HAA2<br>LEI: 549300DKEDU9WZPGTC09 | Long             | ABS-O            | CORP              | US        |     13113000 | PA      | $12821424.58  | 0.08%             | 2056-03-15      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                 | Symphony CLO XXIII Ltd                                                           | CUSIP: 87167NDS1<br>LEI: 54930001DQI1CFLYVB48 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004778.00   | 0.01%             | 2034-01-15      | Floating      | 6.27%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | CSMC Trust 2015-WIN1                                                             | CUSIP: 12649KAP2<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |       126169 | PA      | $117824.59    | 0.00%             | 2044-12-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER                                               | CrossCountry Intermediate HoldCo LLC                                             | CUSIP: 22757VAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2033000 | PA      | $1997332.15   | 0.01%             | 2030-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2021-NQM3                                        | CUSIP: 105690AC5<br>LEI: 2549000KHGUZMZ31N203 | Long             | ABS-MBS          | CORP              | US        |      1282895 | PA      | $1196137.60   | 0.01%             | 2060-04-25      | Variable      | 1.96%                 | No            |                  2 | On Loan: No      |
| National RMBS Trust                                              | National RMBS Trust 2026-1                                                       | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |       500000 | PA      | $357480.46    | 0.00%             | 2057-10-20      | Floating      | 6.14%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                                     | AES Corp/The                                                                     | CUSIP: 00130HCL7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |      7324000 | PA      | $7144915.02   | 0.04%             | 2055-07-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.720000 01-JUN-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     46550975 | OU      | $4347.31      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MARKET BIDCO FINCO PLC                                           | Market Bidco Finco PLC                                                           | CUSIP: 000000000<br>LEI: 549300UGYX6EBVHRVG53 | Long             | DBT              | CORP              | GB        |      1541000 | PA      | $1986470.64   | 0.01%             | 2031-01-31      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                                | Lebanon Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |       247000 | PA      | $62614.50     | 0.00%             | 2024-04-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GOHL CAPITAL HOLDINGS                                            | Gohl Capital Holdings Ltd                                                        | CUSIP: 000000000<br>LEI: 2549009G9UNIMCATM603 | Long             | DBT              | CORP              | IM        |      3500000 | PA      | $3465700.00   | 0.02%             | 2036-04-29      | Fixed         | 8.30%                 | No            |                  2 | On Loan: No      |
| Flatiron CLO Ltd                                                 | Flatiron CLO 24 LTD                                                              | CUSIP: 33882CAU1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $995561.20    | 0.01%             | 2039-01-15      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: OIS 1.642000 17-JUN-2031 THO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    163209929 | OU      | $-15562.02    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NEW IMMO HOLDING SA                                              | New Immo Holding SA                                                              | CUSIP: 000000000<br>LEI: 5493007LOTJ0I8E94R81 | Long             | DBT              | CORP              | FR        |      9800000 | PA      | $11497661.14  | 0.07%             | 2028-12-08      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| RCI BANQUE SA                                                    | RCI Banque SA                                                                    | CUSIP: 000000000<br>LEI: 96950001WI712W7PQG45 | Long             | DBT              | CORP              | FR        |      6000000 | PA      | $7042425.84   | 0.04%             | 2037-03-24      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PERIMETER HOL                                                    | Perimeter Holdings LLC                                                           | CUSIP: 71384AAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       332000 | PA      | $330399.76    | 0.00%             | 2034-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| INSURANCE AUSTRALIA GRP                                          | Insurance Australia Group Ltd                                                    | CUSIP: 000000000<br>LEI: 549300PFEWKNHRG25N08 | Long             | DBT              | CORP              | AU        |       840000 | PA      | $610775.49    | 0.00%             | 2037-06-15      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| SWCH Commercial Mortgage Trust                                   | SWCH Commercial Mortgage Trust 2025-DATA                                         | CUSIP: 78489CAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $991250.00    | 0.01%             | 2042-02-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                    | ZF North America Capital Inc                                                     | CUSIP: 98877DAH8<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |      2514000 | PA      | $2517236.93   | 0.01%             | 2031-03-24      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Gaea Mortgage Loan Trust                                         | Gaea Mortgage Loan Trust 2025-A                                                  | CUSIP: 362928AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       145818 | PA      | $143648.07    | 0.00%             | 2030-02-25      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2026-1                                    | CUSIP: 92262WAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       497448 | PA      | $488395.71    | 0.00%             | 2056-02-25      | Variable      | 8.48%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-A                                                 | CUSIP: 64035DAJ5<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |       300000 | PA      | $271088.28    | 0.00%             | 2062-04-20      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Whitebox CLO I Ltd                                               | Whitebox CLO III Ltd                                                             | CUSIP: 96467JAE2<br>LEI: 549300JXCQSPB1A61C68 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1459778.40   | 0.01%             | 2035-10-15      | Floating      | 9.32%                 | No            |                  2 | On Loan: No      |
| DUOMO BIDCO SPA                                                  | Kiko SpA                                                                         | CUSIP: 000000000<br>LEI: 815600BB98D60A86B243 | Long             | DBT              | CORP              | IT        |      7570000 | PA      | $8868123.56   | 0.05%             | 2032-01-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| SMRT                                                             | SMRT 2022-MINI                                                                   | CUSIP: 78457JAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5150000 | PA      | $5146781.25   | 0.03%             | 2039-01-15      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| SOBHA SUKUK I HOLDING                                            | Sobha Sukuk I Holding Ltd                                                        | CUSIP: 000000000<br>LEI: 254900VZENPT8NAXW686 | Long             | DBT              | CORP              | AE        |      1411000 | PA      | $1320696.00   | 0.01%             | 2030-09-11      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2023-8                                                | CUSIP: 92540DAD7<br>LEI: 213800DTJD5UKJR53O34 | Long             | ABS-MBS          | CORP              | US        |      1510000 | PA      | $1523411.52   | 0.01%             | 2068-12-25      | Variable      | 7.45%                 | No            |                  2 | On Loan: No      |
| BRCK Trust                                                       | BRCK Trust 2025-830B                                                             | CUSIP: 10635AAL3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9099000 | PA      | $9253835.95   | 0.05%             | 2042-12-10      | Variable      | 7.51%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                                          | Mong Duong Finance Holdings BV                                                   | CUSIP: 000000000<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |      2128646 | PA      | $2102037.89   | 0.01%             | 2029-05-07      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CORE SCIENTIFIC FINANCE                                          | Core Scientific Finance I LLC                                                    | CUSIP: 21874LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4360000 | PA      | $4349118.31   | 0.03%             | 2031-05-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans 2024-1 SRL                                         | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |        63691 | PA      | $75462.19     | 0.00%             | 2036-12-29      | Floating      | 4.30%                 | No            |                  2 | On Loan: No      |
| HONO Mortgage Trust                                              | HONO 2021-LULU Mortgage Trust                                                    | CUSIP: 40390MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5690000 | PA      | $5629543.75   | 0.03%             | 2036-10-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.730000 24-JUN-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     47541000 | OU      | $-2853.29     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                         | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1819000 | PA      | $1817154.62   | 0.01%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Pakistan Government International Bonds                          | Pakistan Government International Bonds                                          | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |      9342000 | PA      | $9370726.65   | 0.06%             | 2027-12-05      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                            | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AC0<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |      1300000 | PA      | $1361751.30   | 0.01%             | 2034-01-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                   | CUSIP: 629377CX8<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |      1050000 | PA      | $1062211.50   | 0.01%             | 2034-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Government National Mortgage Association                                         | CUSIP: 38385BZM5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      3676798 | PA      | $3712151.57   | 0.02%             | 2055-01-20      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| STANDARD LIFE PLC                                                | Standard Life PLC                                                                | CUSIP: 000000000<br>LEI: 2138001P49OLAEU33T68 | Long             | DBT              | CORP              | GB        |      1520000 | PA      | $1619833.60   | 0.01%             | 2029-12-12      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                                     | AGL CLO 39 Ltd                                                                   | CUSIP: 00121XAJ0<br>LEI: 54930001FYWQPYWEPQ30 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $1993436.40   | 0.01%             | 2038-04-20      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| ITALMATCH CHEMICALS SPA                                          | Italmatch Chemicals SpA                                                          | CUSIP: 000000000<br>LEI: 815600E7294ACCE76074 | Long             | DBT              | CORP              | IT        |      1367000 | PA      | $1596896.74   | 0.01%             | 2031-02-05      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | MX        |            1 | NC      | $586645.85    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2024-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400IRBWDPWKGK1C24 | Long             | ABS-O            | CORP              | GB        |       500000 | PA      | $688591.07    | 0.00%             | 2031-08-20      | Floating      | 7.69%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-D                                                 | CUSIP: 64034YAA9<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |       182261 | PA      | $181548.72    | 0.00%             | 2062-04-20      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO Ltd                                                  | CUSIP: 08182DAN4<br>LEI: 254900TPMKEES6UQHQ33 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1000298.60   | 0.01%             | 2038-04-20      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Red & Black Auto Italy                                           | Red & Black Auto Italy Srl                                                       | CUSIP: 000000000<br>LEI: 8156003B1C9DCDE30892 | Long             | ABS-O            | CORP              | IT        |        78611 | PA      | $92207.34     | 0.00%             | 2036-07-28      | Floating      | 3.07%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                               | Ally Financial Inc                                                               | CUSIP: 02005NBS8<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |       487000 | PA      | $502803.70    | 0.00%             | 2033-02-14      | Fixed         | 6.70%                 | No            |                  2 | On Loan: —       |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $4794.19      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2024-NQM3                         | CUSIP: 61776UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4524764 | PA      | $4524149.03   | 0.03%             | 2069-07-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| ROCKET COS INC                                                   | Rocket Cos Inc                                                                   | CUSIP: 77311WAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       999000 | PA      | $1011182.81   | 0.01%             | 2033-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2023-B                                          | CUSIP: 78449HAB3<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      2202213 | PA      | $2240069.52   | 0.01%             | 2056-10-16      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| Fontainebleau Miami Beach Trust                                  | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU                               | CUSIP: 34461WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8530000 | PA      | $8535673.30   | 0.05%             | 2039-12-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                               | Energy Transfer LP                                                               | CUSIP: 29273VBG4<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      3433000 | PA      | $3442251.94   | 0.02%             | 2056-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Lebanon Government International Bonds                           | Lebanon Government International Bonds                                           | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |      1965000 | PA      | $498127.50    | 0.00%             | 2027-03-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                                            | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AS5<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |       662000 | PA      | $648798.57    | 0.00%             | 2029-10-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Trust 2024-1                                           | CUSIP: 39571MAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       591796 | PA      | $599569.15    | 0.00%             | 2059-06-25      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-P2                                   | CUSIP: 92262XAB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       248971 | PA      | $245989.92    | 0.00%             | 2055-10-25      | Variable      | 6.04%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2026-NQM1                                               | CUSIP: 46660DAB1<br>LEI: 529900PEVYDPZXGGUW77 | Long             | ABS-MBS          | CORP              | US        |      8906116 | PA      | $8839909.71   | 0.05%             | 2066-06-25      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| PRIO LUX HLD SARL                                                | PRIO Luxembourg Holding Sarl                                                     | CUSIP: 74259PAA5<br>LEI: 2221003VQP4JY7T31H94 | Long             | DBT              | CORP              | LU        |       594000 | PA      | $591493.32    | 0.00%             | 2030-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| SLM Student Loan Trust                                           | SLM Private Credit Student Loan Trust 2005-A                                     | CUSIP: 78443CBV5<br>LEI: 549300ZTEFT8CS12SF95 | Long             | ABS-O            | CORP              | US        |       995455 | PA      | $988427.20    | 0.01%             | 2038-12-15      | Floating      | 4.25%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |     11500000 | PA      | $13162544.66  | 0.08%             | 2033-07-10      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2020-4                                                  | CUSIP: 03464LAA4<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |       111017 | PA      | $108103.80    | 0.00%             | 2065-06-25      | Variable      | 1.47%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                | EURO-BOBL FUTURE JUN26                                                           | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |        -2199 | NC      | $-803613.96   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital CLO 21 Ltd                                                     | CUSIP: 03331KAJ8<br>LEI: 54930063NKPB83QNUF90 | Long             | ABS-CBDO         | CORP              | KY        |      1350000 | PA      | $1349998.52   | 0.01%             | 2034-10-20      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                          | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAG6<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |       110000 | PA      | $113546.07    | 0.00%             | 2032-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| MF1 Multifamily Housing Mortgage Loan Trust                      | MF1 2021-W10X                                                                    | CUSIP: 55284DAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       100000 | PA      | $99378.52     | 0.00%             | 2034-12-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                                             | SCG Trust 2025-SNIP                                                              | CUSIP: 78398JAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6460000 | PA      | $6476150.00   | 0.04%             | 2042-09-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| SC Austria                                                       | SC Austria Sarl                                                                  | CUSIP: 000000000<br>LEI: 81560007AFE688B7A894 | Long             | ABS-O            | CORP              | LU        |      3805000 | PA      | $4482800.65   | 0.03%             | 2041-07-25      | Floating      | 3.13%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                          | HCA Inc                                                                          | CUSIP: 404119CH0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      8810000 | PA      | $8726361.21   | 0.05%             | 2027-03-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: —       |
| MORGAN STANLEY & CO. INTERNATIONAL                               | SWP: OIS 13.417500 04-JAN-2027 BZD                                               | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DIR              |  | US        |      1970492 | OU      | $-6791.24     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 69M                                                   | CUSIP: 38182HAG7<br>LEI: 2549004WBNSFGOX1MY52 | Long             | ABS-CBDO         | CORP              | JE        |      2200000 | PA      | $2200608.30   | 0.01%             | 2037-10-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                          | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     57437500 | PA      | $3308015.63   | 0.02%             | 2029-05-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO XVI Ltd                                              | CUSIP: 08181VBG9<br>LEI: 2549001UGYKGM9DWMY60 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $249987.75    | 0.00%             | 2038-01-17      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2023-1                                    | CUSIP: 92259VAR7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3624731 | PA      | $3436770.82   | 0.02%             | 2053-01-25      | Variable      | 9.64%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2019-A                                 | CUSIP: 63941BAC9<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |       181572 | PA      | $181574.96    | 0.00%             | 2043-01-15      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| VOLTAGRID LLC                                                    | VoltaGrid LLC                                                                    | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |      5110000 | PA      | $5303781.42   | 0.03%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                 | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |            1 | NC      | $614475.03    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2019-B                                          | CUSIP: 83192CAC1<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       321892 | PA      | $322066.45    | 0.00%             | 2037-06-15      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED ZAR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | ZA        |            1 | NC      | $256602.64    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2026-1                                                | CUSIP: 92541JAE1<br>LEI: 2138009KJR7Q44BI8668 | Long             | ABS-MBS          | CORP              | US        |      2070259 | PA      | $2062171.33   | 0.01%             | 2071-01-25      | Variable      | 5.02%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                      | PURCHASED USD / SOLD PHP                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $59583.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Eaton Vance CDO Ltd                                              | Eaton Vance CLO 2019-1 Ltd                                                       | CUSIP: 27830XAW6<br>LEI: 5493007R7GEORNX00105 | Long             | ABS-CBDO         | CORP              | KY        |      1350000 | PA      | $1351491.75   | 0.01%             | 2037-07-15      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Atlas Funding                                                    | Atlas Funding 2024-1 PLC                                                         | CUSIP: 000000000<br>LEI: 635400BMBKLDPBSN2U43 | Long             | ABS-MBS          | CORP              | GB        |       100898 | PA      | $137992.04    | 0.00%             | 2061-09-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding LXVII Ltd                                                   | CUSIP: 55821YAA4<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |      4685000 | PA      | $4689557.57   | 0.03%             | 2037-04-25      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | CSMC Trust 2013-TH1                                                              | CUSIP: 22944PAA5<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      1096667 | PA      | $972377.65    | 0.01%             | 2043-02-25      | Variable      | 2.13%                 | No            |                  2 | On Loan: No      |
| STEEL DYNAMICS INC                                               | Steel Dynamics Inc                                                               | CUSIP: 858119BK5<br>LEI: 549300HGGKEL4FYTTQ83 | Long             | DBT              | CORP              | US        |      8660000 | PA      | $8297952.59   | 0.05%             | 2030-04-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| BANCO MERCANTIL DE NORTE                                         | Banco Mercantil del Norte SA/Grand Cayman                                        | CUSIP: 05971PAD0<br>LEI: 549300QTVYRPFHS0J362 | Long             | DBT              | CORP              | MX        |       758000 | PA      | $803396.62    | 0.00%             | 2031-05-20      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds                | Argentina Republic Government International Bonds                                | CUSIP: 040114HT0<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |       519000 | PA      | $387174.00    | 0.00%             | 2035-07-09      | Variable      | 4.13%                 | No            |                  2 | On Loan: No      |
| Mortimer BTL Plc                                                 | Mortimer 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800PI5SCJ8WPLJX58 | Long             | ABS-MBS          | CORP              | GB        |      1432000 | PA      | $1996321.68   | 0.01%             | 2070-09-22      | Floating      | 7.62%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2025-NQM3                                    | CUSIP: 36274TAF6<br>LEI: 2549007JKCA9H9HUGZ71 | Long             | ABS-MBS          | CORP              | US        |      1567720 | PA      | $1548315.86   | 0.01%             | 2065-11-25      | Variable      | 7.31%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd                                                | Cedar Funding XIX CLO Ltd                                                        | CUSIP: 15033CAC6<br>LEI: 213800XI96J5YS3DBD91 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002386.50   | 0.01%             | 2038-01-23      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2021-5                                                  | CUSIP: 03465HAA2<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |     22620798 | PA      | $19690517.89  | 0.12%             | 2066-07-25      | Variable      | 0.95%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HBXV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      1201180 | PA      | $1215462.89   | 0.01%             | 2054-03-25      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                                         | Standard Industries Inc/NY                                                       | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |      3102000 | PA      | $3084155.75   | 0.02%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Eaton Vance CDO Ltd                                              | Eaton Vance CLO 2020-1 Ltd                                                       | CUSIP: 278300AS7<br>LEI: 5493004NKU3QU5G6QW39 | Long             | ABS-CBDO         | CORP              | KY        |       822000 | PA      | $823681.89    | 0.00%             | 2037-10-15      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| KFC HLD/PIZZA HUT/TACO                                           | KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of America LLC                   | CUSIP: 48250NAC9<br>LEI: 549300G2LG4YUB3MM115 | Long             | DBT              | CORP              | US        |      2403000 | PA      | $2398656.34   | 0.01%             | 2027-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.269300 17-SEP-2026 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     16545322 | OU      | $-104399.87   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.                                             | Birch Grove CLO 2 Ltd                                                            | CUSIP: 09077LAU6<br>LEI: 254900VS6E4BD1HWHW18 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1003478.00   | 0.01%             | 2037-10-19      | Floating      | 6.83%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                                         | Live Nation Entertainment Inc                                                    | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |       564000 | PA      | $553100.47    | 0.00%             | 2028-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PRESTIGEBIDCO GMBH                                               | PrestigeBidCo GmbH                                                               | CUSIP: 000000000<br>LEI: 529900CSF1DNOCHMI763 | Long             | DBT              | CORP              | DE        |      1253000 | PA      | $1480047.05   | 0.01%             | 2029-07-01      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Madison Park XLIV                                                | Atrium XV                                                                        | CUSIP: 55820LAG0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001218.80   | 0.01%             | 2036-07-16      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners Clo XXXV Ltd                                             | CUSIP: 08182YAG3<br>LEI: 254900U0SNDVHNBLRW07 | Long             | ABS-CBDO         | CORP              | JE        |       375000 | PA      | $376273.50    | 0.00%             | 2037-04-25      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| SELF Commercial Mortgage Trust                                   | SELF Commercial Mortgage Trust 2024-STRG                                         | CUSIP: 81631WAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       419712 | PA      | $419711.30    | 0.00%             | 2034-11-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                                 | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |      5461000 | PA      | $4724294.17   | 0.03%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Arini US CLO Limited                                             | Arini US Clo III Ltd                                                             | CUSIP: 04039YAA0<br>LEI: 254900RLGVSRR5ZHHW52 | Long             | ABS-CBDO         | CORP              | KY        |     16000000 | PA      | $16031851.20  | 0.10%             | 2039-01-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                                          | Asbury Automotive Group Inc                                                      | CUSIP: 043436AW4<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |      2145000 | PA      | $2087533.73   | 0.01%             | 2029-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Ceva Sante Animale                                               | Ceva Sante Animale 2025 EUR Term Loan B                                          | CUSIP: 000000000<br>LEI: 969500FG3VYTO80D0A13 | Long             | LON              | CORP              | FR        |      2000000 | PA      | $2360092.15   | 0.01%             | 2030-11-08      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| CART                                                             | CONE Trust 2024-DFW1                                                             | CUSIP: 20682AAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       690000 | PA      | $684016.04    | 0.00%             | 2041-08-15      | Floating      | 7.54%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2023-NQM8                                        | CUSIP: 10567MAE5<br>LEI: 2549000KHGUZMZ31N203 | Long             | ABS-MBS          | CORP              | US        |      4186000 | PA      | $4220683.52   | 0.03%             | 2063-10-25      | Variable      | 8.28%                 | No            |                  2 | On Loan: No      |
| Noria                                                            | Noria DE 2024                                                                    | CUSIP: 000000000<br>LEI: 9695003DRUTU793B4N34 | Long             | ABS-O            | CORP              | FR        |        70014 | PA      | $83046.01     | 0.00%             | 2043-02-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP/FINANCE CORP                                           | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAZ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       600000 | PA      | $582990.40    | 0.00%             | 2030-04-30      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XXXI Ltd                                                    | CUSIP: 55819DBA3<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1003827.00   | 0.01%             | 2037-07-23      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                           | Venture Global LNG Inc                                                           | CUSIP: 92332YAC5<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      7615000 | PA      | $8310759.71   | 0.05%             | 2029-02-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2024-OMNI                 | CUSIP: 46593JAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5000000 | PA      | $5048656.00   | 0.03%             | 2039-10-05      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| Exmoor Funding PLC                                               | Exmoor Funding 2024-1 PLC                                                        | CUSIP: 000000000<br>LEI: 635400TJWGCUUIZAGH30 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $136912.51    | 0.00%             | 2094-03-25      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| ARDAGH GROUP SA                                                  | Ardagh Group SA                                                                  | CUSIP: 039959AA9<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |      1082776 | PA      | $1148162.68   | 0.01%             | 2030-12-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                         | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |      2600000 | PA      | $3149967.82   | 0.02%             | 2032-06-17      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2025-NQM5                                    | CUSIP: 64832GAC8<br>LEI: 213800USJ6KQFZEWGZ76 | Long             | ABS-MBS          | CORP              | US        |     10227355 | PA      | $10205860.04  | 0.06%             | 2065-08-25      | Variable      | 5.11%                 | No            |                  2 | On Loan: No      |
| SALESFORCE INC                                                   | Salesforce Inc                                                                   | CUSIP: 79466LAQ7<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | DBT              | CORP              | US        |      8395000 | PA      | $8402882.99   | 0.05%             | 2028-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| CIPHER COMPUTE LLC                                               | Cipher Compute LLC                                                               | CUSIP: 17253NAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3656000 | PA      | $3789477.53   | 0.02%             | 2030-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: —       |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-3                                                | CUSIP: 92540MAE5<br>LEI: 2138005NRONUFED1TZ38 | Long             | ABS-MBS          | CORP              | US        |       680000 | PA      | $692329.01    | 0.00%             | 2069-04-25      | Variable      | 8.03%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | XX        |            1 | NC      | $-3708.31     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Q-PARK HOLDING I BV                                              | Q-Park Holding I BV                                                              | CUSIP: 000000000<br>LEI: 2549003839B7HE3NDP48 | Long             | DBT              | CORP              | NL        |      3200000 | PA      | $3803737.04   | 0.02%             | 2030-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Europa University Education Group, S.L                           | Europa University Education Group SL 2026 EUR Term Loan B                        | CUSIP: 000000000<br>LEI: 2549009PF73QPWLZWG67 | Long             | LON              | CORP              | ES        |      1483198 | PA      | $1741955.99   | 0.01%             | 2031-12-03      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| UKG INC                                                          | UKG Inc                                                                          | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |      5814000 | PA      | $5658844.22   | 0.03%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Flatiron CLO Ltd                                                 | Flatiron CLO 25 Ltd                                                              | CUSIP: 33883YAA6<br>LEI: 254900Z25NHHRUZ9O184 | Long             | ABS-CBDO         | CORP              | KY        |       780000 | PA      | $767038.27    | 0.00%             | 2037-10-17      | Floating      | 8.93%                 | No            |                  2 | On Loan: No      |
| VELOCITY 2026-1 PLC                                              | Velocity 2026-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800PL94CXWBF7SX91 | Long             | ABS-O            | CORP              | GB        |       271000 | PA      | $368769.08    | 0.00%             | 2037-02-25      | Floating      | 6.93%                 | No            |                  2 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE                                          | Global Medical Response Inc                                                      | CUSIP: 37960BAD7<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |      2829000 | PA      | $2949062.76   | 0.02%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                           | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $-36683.70    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2022-A                                          | CUSIP: 78450FAD9<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       392215 | PA      | $362398.44    | 0.00%             | 2054-11-16      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2024-2                                                    | CUSIP: 52590AAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1850000 | PA      | $1845168.54   | 0.01%             | 2034-02-21      | Fixed         | 4.47%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2024-INV2 Mortgage Loan Trust                                               | CUSIP: 12622SAE1<br>LEI: 2138001M5YM45SK1QW14 | Long             | ABS-MBS          | CORP              | US        |      1900000 | PA      | $1922121.70   | 0.01%             | 2069-05-25      | Variable      | 8.06%                 | No            |                  2 | On Loan: No      |
| Asimi Funding Holdings Limited                                   | Asimi Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800AXPL92U14G2M23 | Long             | ABS-O            | CORP              | GB        |       323982 | PA      | $439720.76    | 0.00%             | 2032-12-16      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                                         | Acadia Healthcare Co Inc                                                         | CUSIP: 00404AAQ2<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |      1510000 | PA      | $1544566.92   | 0.01%             | 2033-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Sapphire Trust                                                   | SAPPHIRE XXXII SERIES 2025-1 TRUST                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      4247724 | PA      | $3059923.22   | 0.02%             | 2066-06-14      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| MAHLE GMBH                                                       | Mahle GmbH                                                                       | CUSIP: 000000000<br>LEI: 52990098TR1QJBWIYG58 | Long             | DBT              | CORP              | DE        |     12057000 | PA      | $14667852.20  | 0.09%             | 2031-05-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust                                     | JW Trust 2024-BERY                                                               | CUSIP: 46676AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4360000 | PA      | $4368175.00   | 0.03%             | 2039-11-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.796300 05-SEP-2026 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     40191969 | OU      | $831.49       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-482696.22   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                            | GFL Environmental Inc                                                            | CUSIP: 36168QAQ7<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |      2092000 | PA      | $2168952.13   | 0.01%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos Clo LIV                                                                   | CUSIP: 03771RAG6<br>LEI: 254900SXYQWBYZA9L226 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $1985789.00   | 0.01%             | 2038-10-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                 | Symphony CLO XVI Ltd                                                             | CUSIP: 87165VAX7<br>LEI: 5493004PWOYFPAFQVT02 | Long             | ABS-CBDO         | CORP              | KY        |       150152 | PA      | $150152.08    | 0.00%             | 2031-10-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 19 Ltd                                                                        | CUSIP: 74983BAJ0<br>LEI: 549300RJ4N2AJDFNE876 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $3966319.60   | 0.02%             | 2040-04-15      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTL INC                                              | Somnigroup International Inc                                                     | CUSIP: 88023UAH4<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |      1640000 | PA      | $1586492.87   | 0.01%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD SGD                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $-16869.26    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2022-2                                                  | CUSIP: 03464PAA5<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |       533086 | PA      | $507672.36    | 0.00%             | 2067-01-25      | Variable      | 4.08%                 | No            |                  2 | On Loan: No      |
| Asimi Funding Holdings Limited                                   | Asimi Funding 2025-1 PLC                                                         | CUSIP: 000000000<br>LEI: 6354002PZBGQEXUI2V51 | Long             | ABS-O            | CORP              | GB        |       109061 | PA      | $148714.66    | 0.00%             | 2032-05-16      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| Romania Government International Bonds                           | Romania Government International Bonds                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |     18668000 | PA      | $18959967.52  | 0.11%             | 2029-01-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW CAN INFRA HOLD                                         | South Bow Canadian Infrastructure Holdings Ltd                                   | CUSIP: 836720AG7<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |       664000 | PA      | $693026.10    | 0.00%             | 2055-03-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                                          | SBA Communications Corp                                                          | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |      4346000 | PA      | $4319053.89   | 0.03%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED INR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | IN        |            1 | NC      | $-254103.05   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fidelity Grand Harbour CLO                                       | Fidelity Grand Harbour Clo 2023-1 DAC                                            | CUSIP: 000000000<br>LEI: 635400GMXFDXRDDHLG52 | Long             | ABS-CBDO         | CORP              | IE        |      2040000 | PA      | $2368402.11   | 0.01%             | 2038-02-15      | Floating      | 4.68%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partners LLC                             | PRET 2025-RPL1 Trust                                                             | CUSIP: 69392FAA5<br>LEI: 254900640HC5OZKI7J87 | Long             | ABS-MBS          | CORP              | US        |      6590273 | PA      | $6410455.89   | 0.04%             | 2069-07-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Albea Beauty Holdings SA                                         | Albea Beauty Holdings SA 2023 EUR Term Loan B                                    | CUSIP: 000000000<br>LEI: 2221000LVW3T1WSQUG17 | Long             | LON              | CORP              | LU        |      1000000 | PA      | $1051883.53   | 0.01%             | 2027-12-31      | Floating      | 7.50%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2021-NQM2 Trust                                                              | CUSIP: 55283WAC5<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      3550952 | PA      | $3219680.52   | 0.02%             | 2064-11-25      | Variable      | 1.47%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2025-44 Ltd                                                              | CUSIP: 67570UAA0<br>LEI: 25490028U8Y2XMZWXO46 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002433.00   | 0.01%             | 2038-10-24      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| GRUPO TELEVISA SAB                                               | Grupo Televisa SAB                                                               | CUSIP: 40049JAZ0<br>LEI: 549300O4AF0C816ILN62 | Long             | DBT              | CORP              | MX        |       443000 | PA      | $384856.25    | 0.00%             | 2040-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| The BAHA Trust                                                   | BAHA Trust 2024-MAR                                                              | CUSIP: 05493XAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8225000 | PA      | $8480355.00   | 0.05%             | 2041-12-10      | Variable      | 7.77%                 | No            |                  2 | On Loan: No      |
| MIDAS OPCO HOLDINGS LLC                                          | Stagwell Global LLC                                                              | CUSIP: 59565JAA9<br>LEI: 984500904E015Z0C1F82 | Long             | DBT              | CORP              | US        |      3702000 | PA      | $3521544.42   | 0.02%             | 2029-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| Exmoor Funding PLC                                               | Exmoor Funding 2024-1 PLC                                                        | CUSIP: 000000000<br>LEI: 635400TJWGCUUIZAGH30 | Long             | ABS-MBS          | CORP              | GB        |       467291 | PA      | $637063.37    | 0.00%             | 2094-03-25      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Atlas Funding                                                    | Atlas Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800W2FS9Z1VKVEA38 | Long             | ABS-MBS          | CORP              | GB        |      5063906 | PA      | $6890701.56   | 0.04%             | 2067-07-20      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| Domi                                                             | Domi 2026-1 BV                                                                   | CUSIP: 000000000<br>LEI: 724500UGS8H72UZHQ412 | Long             | ABS-MBS          | CORP              | NL        |       319000 | PA      | $372801.95    | 0.00%             | 2057-02-15      | Floating      | 3.09%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                         | Benchmark 2023-V3 Mortgage Trust                                                 | CUSIP: 08163VAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2995787 | PA      | $45587.79     | 0.00%             | 2056-07-15      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| Navient Education Loan Trust                                     | Navient Education Loan Trust 2025-A                                              | CUSIP: 63943EAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3024000 | PA      | $3037914.33   | 0.02%             | 2055-07-15      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Romark CLO Ltd                                                   | Romark CLO II Ltd                                                                | CUSIP: 77587EAS7<br>LEI: 549300HD9K8XL8QM2Z46 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1006217.40   | 0.01%             | 2031-07-25      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| EPHIOS SUBCO SARL                                                | Ephios Subco 3 Sarl                                                              | CUSIP: 000000000<br>LEI: 213800E4EG6VFUFVEH64 | Long             | DBT              | CORP              | LU        |     11147000 | PA      | $13794834.12  | 0.08%             | 2031-01-31      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD PEN                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $175099.11    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Acres PLC                                                        | ACRES 2025-FL3 LLC                                                               | CUSIP: 00501DAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      7290000 | PA      | $7301046.54   | 0.04%             | 2040-08-18      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Eircom Finco S.a.r.l.                                            | Eircom Finco Sarl 2025 EUR Term Loan B6                                          | CUSIP: 000000000<br>LEI: 6354009LHESIJBCL1Y98 | Long             | LON              | CORP              | LU        |      1000000 | PA      | $1177804.41   | 0.01%             | 2032-05-15      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                    | Citigroup Inc                                                                    | CUSIP: 172967LP4<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     10200000 | PA      | $10105596.45  | 0.06%             | 2028-07-24      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| AIB GROUP PLC                                                    | AIB Group PLC                                                                    | CUSIP: 000000000<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |      3500000 | PA      | $4176332.65   | 0.02%             | 2031-07-14      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ESSENDI SA                                                       | Essendi SA                                                                       | CUSIP: 000000000<br>LEI: 2221000MD2YP7WLTNC52 | Long             | DBT              | CORP              | LU        |       800000 | PA      | $963860.20    | 0.01%             | 2029-10-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Pony                                                             | Pony SA                                                                          | CUSIP: 000000000<br>LEI: 2221001FWHVHKUW4NQ77 | Long             | ABS-O            | CORP              | LU        |        79045 | PA      | $92946.76     | 0.00%             | 2033-01-14      | Floating      | 3.20%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED MYR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | MY        |            1 | NC      | $-483420.38   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SEASHELL BIDCO SL                                                | Seashell Bidco SL EUR Term Loan B                                                | CUSIP: 000000000<br>LEI: 25490072ZDRSP47PO508 | Long             | LON              | CORP              | ES        |      3107143 | PA      | $3651255.78   | 0.02%             | 2032-12-17      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| NEW IMMO HOLDING SA                                              | New Immo Holding SA                                                              | CUSIP: 000000000<br>LEI: 5493007LOTJ0I8E94R81 | Long             | DBT              | CORP              | FR        |      6600000 | PA      | $7880058.93   | 0.05%             | 2028-04-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                                          | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92840JAB5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |       100000 | PA      | $93646.47     | 0.00%             | 2030-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| GMRF Mortgage Acquisition Co., LLC                               | Galton Funding Mortgage Trust 2019-H1                                            | CUSIP: 36418XAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       116583 | PA      | $116020.73    | 0.00%             | 2059-10-25      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                    | CoreWeave Inc                                                                    | CUSIP: 21873SAG3<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |      7327000 | PA      | $7369427.29   | 0.04%             | 2031-10-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| 280 Park Avenue Mortgage Trust                                   | 280 Park Avenue 2017-280P Mortgage Trust                                         | CUSIP: 90205FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2941000 | PA      | $2935485.63   | 0.02%             | 2034-09-15      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                                            | Bath & Body Works Inc                                                            | CUSIP: 501797AW4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |      3627000 | PA      | $3675739.63   | 0.02%             | 2030-10-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Sesac Finance                                                    | Sesac Finance LLC                                                                | CUSIP: 78396YAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3866000 | PA      | $3780708.31   | 0.02%             | 2055-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                        | IQVIA Inc                                                                        | CUSIP: 46266TAD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |      1387000 | PA      | $1415565.27   | 0.01%             | 2030-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| ZEGONA FINANCE PLC                                               | Zegona Finance PLC                                                               | CUSIP: 000000000<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |     11699769 | PA      | $14267994.09  | 0.08%             | 2029-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| KASPI.KZ JSC                                                     | Kaspi.KZ JSC                                                                     | CUSIP: 48581RAA4<br>LEI: 2549003YU6FARG8OAZ13 | Long             | DBT              | CORP              | KZ        |      4720000 | PA      | $4699350.00   | 0.03%             | 2031-04-28      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer III, LLC                              | Compass Datacenters Issuer III LLC                                               | CUSIP: 20469BAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5205000 | PA      | $5137338.12   | 0.03%             | 2050-07-25      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBQ2<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     17050000 | PA      | $17585544.59  | 0.10%             | 2034-01-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BBAM EUROPEAN CLO                                                | BBAM European CLO I DAC                                                          | CUSIP: 000000000<br>LEI: 549300TZ7R77T955CQ98 | Long             | ABS-CBDO         | CORP              | IE        |       100000 | PA      | $116776.95    | 0.00%             | 2038-10-22      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                                             | Sonic Automotive Inc                                                             | CUSIP: 83545GBD3<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |       482000 | PA      | $471526.96    | 0.00%             | 2029-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| CIFC Funding Ltd                                                 | CIFC Funding 2020-I Ltd                                                          | CUSIP: 12555QAN6<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      2745000 | PA      | $2746042.83   | 0.02%             | 2036-07-15      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2025-2 PLC                                              | CUSIP: 000000000<br>LEI: 213800WUDDAGMT94UJ09 | Long             | ABS-MBS          | CORP              | GB        |       382000 | PA      | $520003.40    | 0.00%             | 2068-01-17      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | 3 MONTH SOFR FUT DEC27                                                           | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |          871 | NC      | $-631120.13   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |            1 | NC      | $622.93       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2018-2                                       | CUSIP: 64828CAA7<br>LEI: 549300U1MV4J7YQZG974 | Long             | ABS-MBS          | CORP              | US        |        73429 | PA      | $72457.92     | 0.00%             | 2058-02-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| SLG Trust                                                        | SLG Office Trust 2026-OMA                                                        | CUSIP: 78451FAL0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4000000 | PA      | $4027696.80   | 0.02%             | 2041-04-15      | Variable      | 7.92%                 | No            |                  2 | On Loan: No      |
| Commercial Mortgage Pass-through Certificates                    | ILPT Commercial Mortgage Trust 2025-LPF2                                         | CUSIP: 451955AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8792000 | PA      | $8878007.74   | 0.05%             | 2042-07-13      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| Arizona Biltmore Trust                                           | ARZ Trust 2024-BILT                                                              | CUSIP: 00218TAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4292000 | PA      | $4348139.79   | 0.03%             | 2039-06-11      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                                | Battalion CLO VIII Ltd                                                           | CUSIP: 07132ACN1<br>LEI: 549300WH2OE0BGHQQP83 | Long             | ABS-CBDO         | CORP              | KY        |      3215000 | PA      | $3209194.35   | 0.02%             | 2030-07-18      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                                     | Alphabet Inc                                                                     | CUSIP: 000000000<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |      4800000 | PA      | $5294350.26   | 0.03%             | 2045-05-06      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd                                                | Cedar Funding XI Clo Ltd                                                         | CUSIP: 15033LAW2<br>LEI: 2549004YLPCISGLL7978 | Long             | ABS-CBDO         | CORP              | KY        |      1197017 | PA      | $1197015.61   | 0.01%             | 2032-05-29      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-RCF4 LLC                                                               | CUSIP: 69382WAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1333333 | PA      | $1237804.89   | 0.01%             | 2055-08-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING                                         | Nidda Healthcare Holding GmbH                                                    | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | DBT              | CORP              | DE        |     14205000 | PA      | $16696646.50  | 0.10%             | 2032-10-15      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Brignole CO                                                      | Brignole Co                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | IT        |       414734 | PA      | $487758.20    | 0.00%             | 2042-02-24      | Floating      | 2.72%                 | No            |                  2 | On Loan: No      |
| PRM5 Trust                                                       | PRM5 Trust 2025-PRM5                                                             | CUSIP: 693980AG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3200000 | PA      | $3174079.68   | 0.02%             | 2033-03-10      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| The BAHA Trust                                                   | BAHA Trust 2024-MAR                                                              | CUSIP: 05493XAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13995000 | PA      | $14303293.06  | 0.08%             | 2041-12-10      | Variable      | 6.17%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO I Ltd.                                               | Elmwood CLO I Ltd                                                                | CUSIP: 290015BJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      4685000 | PA      | $4680957.78   | 0.03%             | 2037-04-20      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2025-NQM4 Trust                                                             | CUSIP: 367923AG4<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $3013740.00   | 0.02%             | 2070-06-25      | Variable      | 7.20%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO Ltd                                                | Park Blue CLO 2025-VII Ltd                                                       | CUSIP: 70019HAA2<br>LEI: 2138008W8XU9WO8BZO09 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $4004010.80   | 0.02%             | 2038-04-25      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| FRONERI LUX FINCO SARL                                           | Froneri Lux FinCo SARL                                                           | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | DBT              | CORP              | LU        |     14530000 | PA      | $16515793.50  | 0.10%             | 2032-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TELEFONICA EUROPE BV                                             | Telefonica Europe BV                                                             | CUSIP: 000000000<br>LEI: 7245007FZS0M65WUGP67 | Long             | DBT              | CORP              | NL        |      6400000 | PA      | $7793357.21   | 0.05%             | 2032-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Turkiye Government International Bonds                           | Turkiye Government International Bonds                                           | CUSIP: 900123DG2<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |      4935000 | PA      | $5588887.50   | 0.03%             | 2033-01-19      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2024-NQM1                                    | CUSIP: 64828DAA5<br>LEI: 213800TFYSB4XLW7QW74 | Long             | ABS-MBS          | CORP              | US        |      1295079 | PA      | $1303634.50   | 0.01%             | 2064-03-25      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| HTL Commercial Mortgage Trust                                    | HTL Commercial Mortgage Trust 2024-T53                                           | CUSIP: 404300AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2840000 | PA      | $2861054.91   | 0.02%             | 2039-05-10      | Variable      | 6.07%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |       755000 | PA      | $853151.25    | 0.01%             | 2045-10-07      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $1390849.21   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.490000 04-AUG-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     63783900 | OU      | $9827.45      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                         | Rogers Communications Inc                                                        | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |      1252000 | PA      | $1277903.88   | 0.01%             | 2055-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                            | KKR CLO 27 LTD                                                                   | CUSIP: 48253YBL1<br>LEI: 5493007WGG1LNIZXEI24 | Long             | ABS-CBDO         | CORP              | KY        |      1666667 | PA      | $1666839.17   | 0.01%             | 2035-01-15      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| CONTINUUM ENERGY AURA                                            | Continuum Energy Aura Pte Ltd                                                    | CUSIP: 000000000<br>LEI: 984500AB52D7C8GC2E33 | Long             | DBT              | CORP              | SG        |      4500000 | PA      | $4539375.00   | 0.03%             | 2027-02-24      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Asimi Funding Holdings Limited                                   | Asimi Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800AXPL92U14G2M23 | Long             | ABS-O            | CORP              | GB        |       624762 | PA      | $850608.43    | 0.01%             | 2032-12-16      | Floating      | 6.54%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2018-II Ltd                                                         | CUSIP: 17180WAJ4<br>LEI: 635400A7PBKNR7KBOY58 | Long             | ABS-CBDO         | CORP              | KY        |      2250000 | PA      | $2254544.78   | 0.01%             | 2037-10-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $3940.55      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.310000 26-AUG-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     75921721 | OU      | $11532.41     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-2                                                | CUSIP: 92539UAA8<br>LEI: 213800KSJFZ5H8FZ7C61 | Long             | ABS-MBS          | CORP              | US        |       190393 | PA      | $191492.01    | 0.00%             | 2069-02-25      | Variable      | 6.10%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | SWP: OIS 7.245000 25-SEP-2026 IBR                                                | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |   1912725939 | OU      | $10758.49     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| EDP SA                                                           | EDP SA                                                                           | CUSIP: 000000000<br>LEI: 529900CLC3WDMGI9VH80 | Long             | DBT              | CORP              | PT        |      3000000 | PA      | $3460567.00   | 0.02%             | 2082-03-14      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |       294000 | PA      | $308326.62    | 0.00%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BVYM4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     17595996 | PA      | $17809841.67  | 0.11%             | 2054-06-25      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                                                   | Brink's Co/The                                                                   | CUSIP: 109696AA2<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |      2229000 | PA      | $2218334.46   | 0.01%             | 2027-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | Ares XLI Clo Ltd                                                                 | CUSIP: 04016DAS4<br>LEI: 549300X38KZ67Q2FQG11 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3000121.50   | 0.02%             | 2034-04-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2017-13 Ltd                                                              | CUSIP: 67097LAV8<br>LEI: 254900M77QLN2EBJHE11 | Long             | ABS-CBDO         | CORP              | KY        |      6750000 | PA      | $6766108.20   | 0.04%             | 2037-11-26      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                             | Deephaven Residential Mortgage Trust 2024-1                                      | CUSIP: 24380QAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2788162 | PA      | $2809893.41   | 0.02%             | 2069-07-25      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                         | Univision Communications Inc                                                     | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |      5073000 | PA      | $5148586.63   | 0.03%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.810000 03-JAN-2028 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    179998000 | OU      | $-9838.80     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Carval CLO LTD                                                   | Carval Clo X-C Ltd                                                               | CUSIP: 146918AE7<br>LEI: 254900DAR7W0XP2CHD65 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001491.50   | 0.01%             | 2037-07-20      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital Clo 29 Ltd                                                     | CUSIP: 03332QAA3<br>LEI: 213800XVU2BADRNDSO76 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $4008892.00   | 0.02%             | 2037-07-20      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $3706.89      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                                   | Azorra Finance Ltd                                                               | CUSIP: 05480AAA3<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |      1818000 | PA      | $1881057.33   | 0.01%             | 2030-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                          | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAE1<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |      5830000 | PA      | $5778987.50   | 0.03%             | 2026-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| KASPI.KZ JSC                                                     | JSC Kaspi.kz                                                                     | CUSIP: 000000000<br>LEI: 2549003YU6FARG8OAZ13 | Long             | DBT              | CORP              | KZ        |      1217000 | PA      | $1232212.50   | 0.01%             | 2030-03-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2025-1                                                    | CUSIP: 52604QAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3295000 | PA      | $3309808.39   | 0.02%             | 2034-09-20      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| BRCK Trust                                                       | BRCK Trust 2025-830B                                                             | CUSIP: 10635AAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5355000 | PA      | $5319505.45   | 0.03%             | 2042-12-10      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                            | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |      6000000 | PA      | $5958330.00   | 0.04%             | 2028-07-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| Arbor Multifamily Mortgage Securities Trust                      | Arbor Multifamily Mortgage Securities Trust 2020-MF1                             | CUSIP: 03881BAS2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       190000 | PA      | $156547.46    | 0.00%             | 2053-05-15      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2026-NQM3                                    | CUSIP: 64832PAE4<br>LEI: 213800BXPAJOYIE7S264 | Long             | ABS-MBS          | CORP              | US        |      4824300 | PA      | $4788927.50   | 0.03%             | 2066-02-25      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |      2000000 | PA      | $1941437.06   | 0.01%             | 2032-07-10      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                                          | Flagstar Mortgage Trust 2019-1                                                   | CUSIP: 33852AAC1<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |       128113 | PA      | $115890.63    | 0.00%             | 2049-10-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2023-NQM1 Trust                                                             | CUSIP: 36169BAA4<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |      3826587 | PA      | $3646435.97   | 0.02%             | 2057-10-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2020-4                                                  | CUSIP: 03464LAB2<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |       242723 | PA      | $237131.94    | 0.00%             | 2065-06-25      | Variable      | 2.04%                 | No            |                  2 | On Loan: No      |
| TURKIYE GOVERNMENT BOND                                          | Turkiye Government Bond                                                          | CUSIP: 000000000<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |    107779312 | PA      | $2114570.96   | 0.01%             | 2029-09-12      | Fixed         | 30.00%                | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                                             | Sonic Automotive Inc                                                             | CUSIP: 83545GBE1<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |      1125000 | PA      | $1081654.76   | 0.01%             | 2031-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2018-A                                          | CUSIP: 78449PAB5<br>LEI: 549300QHI21JZK7YIR34 | Long             | ABS-O            | CORP              | US        |        10907 | PA      | $10870.75     | 0.00%             | 2036-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-247118.68   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2014-2                                       | CUSIP: 64828YAQ4<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       136089 | PA      | $129518.65    | 0.00%             | 2054-05-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                                           | Comstock Resources Inc                                                           | CUSIP: 205768AT1<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |       925000 | PA      | $895994.87    | 0.01%             | 2030-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Romania Government International Bonds                           | Romania Government International Bonds                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |       788000 | PA      | $705488.52    | 0.00%             | 2031-02-14      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Cascade Funding Mortgage Trust                                   | CFMT 2024-HB14 LLC                                                               | CUSIP: 12530XAC5<br>LEI: 9845005986F840FBE847 | Long             | ABS-MBS          | CORP              | US        |       314718 | PA      | $305327.13    | 0.00%             | 2034-06-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2021-2                                                  | CUSIP: 03465DAB9<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |       219390 | PA      | $191140.95    | 0.00%             | 2066-04-25      | Variable      | 1.19%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2025-C                                                 | CUSIP: 64035UAB4<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      4274432 | PA      | $4263776.09   | 0.03%             | 2065-06-22      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans 2025-1 SRL                                         | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |       149373 | PA      | $175349.74    | 0.00%             | 2040-12-28      | Floating      | 3.22%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2023-A                                          | CUSIP: 78450QAB9<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      1339973 | PA      | $1349302.77   | 0.01%             | 2053-01-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                                     | Entegris Inc                                                                     | CUSIP: 29365BAA1<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |      4050000 | PA      | $4018648.55   | 0.02%             | 2029-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                                       | TELUS Corp                                                                       | CUSIP: 87971MCR2<br>LEI: 894500TX134IMF6NW757 | Long             | DBT              | CORP              | CA        |      2520000 | PA      | $2506129.67   | 0.01%             | 2056-06-09      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| 1988 CLO Ltd.                                                    | 1988 CLO 5 Ltd                                                                   | CUSIP: 68252PAA4<br>LEI: 254900KAQBAF5XV8IU66 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $4005426.00   | 0.02%             | 2037-07-15      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                           | WESCO Distribution Inc                                                           | CUSIP: 95081QAT1<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |      1201000 | PA      | $1200252.01   | 0.01%             | 2031-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $-680570.74   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | BR        |            1 | NC      | $3887105.48   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                              | NCL Corp Ltd                                                                     | CUSIP: 62886HBY6<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |      2131000 | PA      | $2074145.35   | 0.01%             | 2031-01-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                                        | Prosus NV                                                                        | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |      1731000 | PA      | $1708393.14   | 0.01%             | 2027-01-19      | Fixed         | 3.26%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |            1 | NC      | $-964935.48   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                                             | IHO Verwaltungs GmbH                                                             | CUSIP: 44963BAJ7<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |      1000000 | PA      | $1017178.52   | 0.01%             | 2033-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| VEGAS Trust                                                      | VEGAS Trust 2024-TI                                                              | CUSIP: 92254AAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4850000 | PA      | $4857321.08   | 0.03%             | 2039-11-10      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| CONTOURGLOBAL POWER HLDG                                         | ContourGlobal Power Holdings SA                                                  | CUSIP: 000000000<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |     13451000 | PA      | $15868864.62  | 0.09%             | 2030-02-28      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2026-1 Mortgage Loan Trust                                                  | CUSIP: 196926AM1<br>LEI: 2138009O96115X8GVT44 | Long             | ABS-MBS          | CORP              | US        |       282353 | PA      | $279672.26    | 0.00%             | 2071-02-25      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| Vivalto Sante SAS                                                | Vivalto Sante SAS 2025 EUR Term Loan B                                           | CUSIP: 000000000<br>LEI: 969500LFM6S869DF2T62 | Long             | LON              | CORP              | FR        |      3000000 | PA      | $3537075.01   | 0.02%             | 2031-07-21      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2025-H8 Mortgage Trust                                                     | CUSIP: 22757XAB2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4545949 | PA      | $4532705.76   | 0.03%             | 2070-11-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                           | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAD7<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |      1433000 | PA      | $1348190.95   | 0.01%             | 2032-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WAYFAIR LLC                                                      | Wayfair LLC                                                                      | CUSIP: 94419NAC1<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |       986000 | PA      | $996852.90    | 0.01%             | 2032-11-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| AECOM                                                            | AECOM                                                                            | CUSIP: 00766TAE0<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | DBT              | CORP              | US        |      1556000 | PA      | $1568701.63   | 0.01%             | 2033-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Atlas Funding                                                    | Atlas Funding 2024-1 PLC                                                         | CUSIP: 000000000<br>LEI: 635400BMBKLDPBSN2U43 | Long             | ABS-MBS          | CORP              | GB        |       435381 | PA      | $593563.19    | 0.00%             | 2061-09-20      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                         | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      1256000 | PA      | $1176565.03   | 0.01%             | 2031-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2024-3                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |       151000 | PA      | $206113.26    | 0.00%             | 2032-11-15      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                         | Permian Resources Operating LLC                                                  | CUSIP: 71424VAA8<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |      5006000 | PA      | $5207341.32   | 0.03%             | 2032-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| East One                                                         | East One 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800NEAFVXSQQHPC92 | Long             | ABS-MBS          | CORP              | GB        |       382998 | PA      | $522615.33    | 0.00%             | 2058-02-25      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Madison Avenue Trust                                             | MAD Commercial Mortgage Trust 2025-11MD                                          | CUSIP: 55616AAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3992000 | PA      | $3996748.88   | 0.02%             | 2042-10-15      | Variable      | 7.57%                 | No            |                  2 | On Loan: No      |
| Argentina Republic Government International Bonds                | Argentina Republic Government International Bonds                                | CUSIP: 040114HS2<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |       762096 | PA      | $657689.06    | 0.00%             | 2030-07-09      | Variable      | 0.75%                 | No            |                  2 | On Loan: —       |
| GCAT                                                             | GCAT 2022-CM1 Trust                                                              | CUSIP: 36168XAA7<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |       787341 | PA      | $727602.58    | 0.00%             | 2066-12-27      | Variable      | 2.89%                 | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer III, LLC                              | Compass Datacenters Issuer III LLC                                               | CUSIP: 20469BAH0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3858000 | PA      | $3823617.50   | 0.02%             | 2056-02-25      | Fixed         | 5.44%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                              | Sirius XM Radio LLC                                                              | CUSIP: 82966BAA3<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      1528000 | PA      | $1502470.48   | 0.01%             | 2032-04-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.800000 03-JAN-2028 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     75772000 | OU      | $-6591.64     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| EQT CORP                                                         | EQT Corp                                                                         | CUSIP: 26884LBB4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |      9070000 | PA      | $9850792.95   | 0.06%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                              | COMM 2025-167G Mortgage Trust                                                    | CUSIP: 12674VAA9<br>LEI: 5493004GWEVMOU8S3L34 | Long             | ABS-MBS          | CORP              | US        |      5783000 | PA      | $5710418.15   | 0.03%             | 2040-08-10      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                            | Williams Scotsman Inc                                                            | CUSIP: 96949VAL7<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |        25000 | PA      | $26037.03     | 0.00%             | 2031-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| BARBADOS GOVT OF                                                 | Barbados Government International Bond                                           | CUSIP: 067070AK8<br>LEI: 529900UD1KUUS4SFD905 | Long             | DBT              | NUSS              | BB        |      1291000 | PA      | $1381770.21   | 0.01%             | 2035-06-26      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                                           | Orbia Advance Corp SAB de CV                                                     | CUSIP: 59284BAD0<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |       449000 | PA      | $387262.50    | 0.00%             | 2042-09-19      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2024-3                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |      1047000 | PA      | $1427681.16   | 0.01%             | 2032-11-15      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2025-2                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |       152000 | PA      | $207078.43    | 0.00%             | 2033-07-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| SC Germany Leasing                                               | SC Germany SA Compartment Leasing 2025-1                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       200000 | PA      | $234839.09    | 0.00%             | 2036-09-14      | Floating      | 2.85%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-25755.00    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-NQM1 Trust                                                             | CUSIP: 74391EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3622503 | PA      | $3645004.13   | 0.02%             | 2069-11-25      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                         | Government National Mortgage Association                                         | CUSIP: 38384KUP4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      1729124 | PA      | $1737867.14   | 0.01%             | 2054-03-20      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                             | Bank of America Corp                                                             | CUSIP: 06051GHV4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      9890000 | PA      | $9485814.59   | 0.06%             | 2030-07-23      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2025-2 PLC                                                               | CUSIP: 000000000<br>LEI: 6354008SKUHLCPHT7N63 | Long             | ABS-MBS          | CORP              | GB        |       196000 | PA      | $266045.47    | 0.00%             | 2068-08-25      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                          | NYMT Loan Trust 2026-INV1                                                        | CUSIP: 62957GAF4<br>LEI: 254900Y31NJCJWYHMA05 | Long             | ABS-MBS          | CORP              | US        |      6222393 | PA      | $6190458.81   | 0.04%             | 2061-02-25      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| VIVION INVESTMENTS                                               | Vivion Investments Sarl                                                          | CUSIP: 000000000<br>LEI: 529900SJ7X71ESJK9N76 | Long             | DBT              | CORP              | LU        |      8861000 | PA      | $9943507.57   | 0.06%             | 2030-06-08      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                         | Olympus Water US Holding Corp                                                    | CUSIP: 681639AE0<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |      7184000 | PA      | $7021949.08   | 0.04%             | 2033-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDQ0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      6429000 | PA      | $6467213.98   | 0.04%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-3                                                | CUSIP: 92540MAF2<br>LEI: 2138005NRONUFED1TZ38 | Long             | ABS-MBS          | CORP              | US        |      1240000 | PA      | $1256118.02   | 0.01%             | 2069-04-25      | Variable      | 8.40%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                                    | Ballyrock CLO 20 Ltd                                                             | CUSIP: 05876CBN2<br>LEI: 254900WX8CA21F2QI356 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $982515.80    | 0.01%             | 2036-10-15      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2024-5                                    | CUSIP: 92261AAM0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       244274 | PA      | $244063.56    | 0.00%             | 2054-10-25      | Fixed         | 9.47%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XXIII Ltd                                                           | CUSIP: 89642TAL7<br>LEI: 635400HEV45BA22Y6W50 | Long             | ABS-CBDO         | CORP              | BM        |      3000000 | PA      | $3006674.70   | 0.02%             | 2038-10-20      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| ACADIA HEALTHCARE CO INC                                         | Acadia Healthcare Co Inc                                                         | CUSIP: 00404AAN9<br>LEI: 5493005CW985Y9D0NC11 | Long             | DBT              | CORP              | US        |      1270000 | PA      | $1263578.12   | 0.01%             | 2028-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Hungary Government International Bonds                           | Hungary Government International Bonds                                           | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |      1731000 | PA      | $1754281.95   | 0.01%             | 2034-06-16      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2024-INV2                                                                   | CUSIP: 26844LAA6<br>LEI: 254900QTMZ2ZHRYMFA85 | Long             | ABS-MBS          | CORP              | US        |      7240211 | PA      | $7221514.24   | 0.04%             | 2069-10-25      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                                                 | Puget Energy Inc                                                                 | CUSIP: 745310AT9<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |      1900000 | PA      | $1910679.90   | 0.01%             | 2056-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.823000 07-JUN-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     19779973 | OU      | $2954.28      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MLTI Trust                                                       | MLTI Trust 2026-SF75                                                             | CUSIP: 55318JAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8138000 | PA      | $8127868.19   | 0.05%             | 2036-03-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                           | WESCO Distribution Inc                                                           | CUSIP: 95081QAQ7<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |      4825000 | PA      | $4919980.13   | 0.03%             | 2029-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NCMF Trust                                                       | NCMF Trust 2025-MFS                                                              | CUSIP: 62887TAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5993000 | PA      | $6013117.30   | 0.04%             | 2033-06-10      | Variable      | 7.78%                 | No            |                  2 | On Loan: No      |
| ION PLATFORM FINANCE SAR                                         | ION Platform Finance SARL                                                        | CUSIP: 000000000<br>LEI: 6488IU1F9M51Z3P60R77 | Long             | DBT              | CORP              | LU        |      9372000 | PA      | $8704970.35   | 0.05%             | 2032-09-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                   | Morgan Stanley Capital I Trust 2019-H7                                           | CUSIP: 61771MAZ3<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |       895000 | PA      | $850884.82    | 0.01%             | 2052-07-15      | Fixed         | 3.52%                 | No            |                  2 | On Loan: No      |
| Sri Lanka Government International Bonds                         | Sri Lanka Government International Bonds                                         | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      3652109 | PA      | $3484112.14   | 0.02%             | 2028-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AF8<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |       950000 | PA      | $943033.84    | 0.01%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2025-NQM1                                                                   | CUSIP: 26846CAE6<br>LEI: 254900TJEVLCYF1H3X71 | Long             | ABS-MBS          | CORP              | US        |      3232000 | PA      | $3231956.69   | 0.02%             | 2070-01-25      | Variable      | 7.43%                 | No            |                  2 | On Loan: No      |
| AGL CLO Ltd.                                                     | AGL CLO 33 Ltd                                                                   | CUSIP: 00121DAD7<br>LEI: 254900FQ0489DHYW7509 | Long             | ABS-CBDO         | CORP              | KY        |      1300000 | PA      | $1298218.22   | 0.01%             | 2037-07-21      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                      | Ivory Coast Government International Bond                                        | CUSIP: 221625AX4<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |      1793000 | PA      | $1652321.22   | 0.01%             | 2041-02-25      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                         | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      1363000 | PA      | $1408237.97   | 0.01%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| WORLEY FIN SERV PTY LTD                                          | Worley Financial Services Pty Ltd                                                | CUSIP: 000000000<br>LEI: 549300XG4PYDO7ACB905 | Long             | DBT              | CORP              | AU        |      1500000 | PA      | $1059665.87   | 0.01%             | 2032-05-13      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2016-12 Ltd                                                              | CUSIP: 67092RBC1<br>LEI: 254900U8BS6KLMI9K654 | Long             | ABS-CBDO         | CORP              | KY        |      4750000 | PA      | $4771029.20   | 0.03%             | 2037-10-18      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2026-1                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |       972000 | PA      | $697930.13    | 0.00%             | 2034-03-15      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Acres PLC                                                        | ACRES Commercial Realty 2026-FL4 Issuer LLC                                      | CUSIP: 00501XAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10000000 | PA      | $9999957.00   | 0.06%             | 2044-08-18      | Floating      | 5.36%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CARD CO LTD                                              | Hyundai Card Co Ltd                                                              | CUSIP: 000000000<br>LEI: 988400S1WSELQL3GVR75 | Long             | DBT              | CORP              | KR        |      6315000 | PA      | $6480895.05   | 0.04%             | 2029-04-24      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F030652<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     48200000 | PA      | $42189099.46  | 0.25%             | 2056-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Hermitage Plc                                                    | Hermitage 2024 PLC                                                               | CUSIP: 000000000<br>LEI: 635400OUUMGTAI2EJA52 | Long             | ABS-O            | CORP              | GB        |        39253 | PA      | $54006.01     | 0.00%             | 2033-04-21      | Floating      | 7.64%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |            1 | NC      | $-1792006.31  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2025-SPL1                         | CUSIP: 617946AF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1641414 | PA      | $1535247.67   | 0.01%             | 2065-02-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS/CANADA WON                                             | Six Flags Entertainment Corp / Canada's Wonderland Co / Magnum Management Corp   | CUSIP: 150190AE6<br>LEI: 549300TUVLNQQ6BVKH61 | Long             | DBT              | CORP              | US        |       823000 | PA      | $791762.37    | 0.00%             | 2029-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| LCH Ltd.                                                         | FSWP: ZAR 6.810300 17-SEP-2026 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     21443356 | OU      | $704.62       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MKS INC                                                          | MKS Inc                                                                          | CUSIP: 000000000<br>LEI: 549300KEQATBHAGVF505 | Long             | DBT              | CORP              | US        |     16110000 | PA      | $18247128.88  | 0.11%             | 2034-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                            | Wells Fargo Commercial Mortgage Trust 2018-AUS                                   | CUSIP: 94990EAA2<br>LEI: 54930012YCNUERXJ1I74 | Long             | ABS-MBS          | CORP              | US        |       210000 | PA      | $205748.30    | 0.00%             | 2036-08-17      | Variable      | 4.19%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos CLO LIII                                                                  | CUSIP: 03771EAA8<br>LEI: 254900V9JISXCX9V0G97 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2005311.20   | 0.01%             | 2038-07-20      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                             | LifePoint Health Inc                                                             | CUSIP: 53219LAV1<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |      1993000 | PA      | $2112970.63   | 0.01%             | 2030-08-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| EP INFRASTRUCTURE AS                                             | EP Infrastructure AS                                                             | CUSIP: 000000000<br>LEI: 315700I4J1M1NKGWWY89 | Long             | DBT              | CORP              | CZ        |      8100000 | PA      | $9324606.86   | 0.06%             | 2034-01-29      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Aimco                                                            | AIMCO CLO 10 Ltd                                                                 | CUSIP: 00901AAS6<br>LEI: 5493004I93856WYBB035 | Long             | ABS-CBDO         | CORP              | KY        |      4180000 | PA      | $4185064.07   | 0.02%             | 2037-07-22      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Fact SA                                                          | FACT SA/LU                                                                       | CUSIP: 000000000<br>LEI: 529900S1VYMIDC5XAC48 | Long             | ABS-O            | CORP              | LU        |       300000 | PA      | $352291.37    | 0.00%             | 2031-09-22      | Floating      | 3.05%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                                          | Global Partners LP / GLP Finance Corp                                            | CUSIP: 37954FAK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1467000 | PA      | $1540115.28   | 0.01%             | 2032-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| Trinitas CLO Ltd                                                 | Trinitas CLO XVI Ltd                                                             | CUSIP: 89642DAQ1<br>LEI: 5493004FCKEPFTK2QI86 | Long             | ABS-CBDO         | CORP              | KY        |      3430000 | PA      | $3429722.86   | 0.02%             | 2034-07-20      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                                           | Rockford Tower CLO 2018-2 Ltd                                                    | CUSIP: 77342KAG5<br>LEI: 5493001SZ764RMCNU069 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1005030.00   | 0.01%             | 2031-10-20      | Floating      | 7.04%                 | No            |                  2 | On Loan: No      |
| Rain Carbon GmbH                                                 | Rain Carbon GmbH 2023 EUR Term Loan B                                            | CUSIP: 000000000<br>LEI: 529900OO18PWCCZRYG63 | Long             | LON              | CORP              | DE        |      1808444 | PA      | $2101254.47   | 0.01%             | 2028-10-31      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $8316.80      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                                | Lithia Motors Inc                                                                | CUSIP: 536797AJ2<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |      3307000 | PA      | $3289472.90   | 0.02%             | 2030-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                         | Univision Communications Inc                                                     | CUSIP: 914906AX0<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |       424000 | PA      | $423596.56    | 0.00%             | 2030-06-30      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| MasOrange Finco Plc                                              | MasOrange Finco Plc 2025 EUR Term Loan B                                         | CUSIP: 000000000<br>LEI: 549300PONZMYNJTH6970 | Long             | LON              | CORP              | GB        |      2000000 | PA      | $2345257.22   | 0.01%             | 2031-03-25      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                                   | Upgrade Master Pass-Thru Trust Series 2025-ST6                                   | CUSIP: 91533QAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2342000 | PA      | $2332207.86   | 0.01%             | 2032-10-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2022-NQM1 Trust                                                             | CUSIP: 69378KAD6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       248000 | PA      | $246812.35    | 0.00%             | 2067-08-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                                               | Osaic Holdings Inc                                                               | CUSIP: 00791GAB3<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |      4454000 | PA      | $4523899.92   | 0.03%             | 2032-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAD0<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |      1137000 | PA      | $1106889.40   | 0.01%             | 2034-03-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                                         | Development Bank of Kazakhstan JSC                                               | CUSIP: 000000000<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |    328500000 | PA      | $710116.19    | 0.00%             | 2028-07-03      | Fixed         | 17.30%                | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                      | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | BR        |            1 | NC      | $148203.93    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs Group, Inc.                                        | Goldman Sachs Group, Inc.                                                        | CUSIP: 000000000<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      2200000 | PA      | $2408140.69   | 0.01%             | 2029-05-09      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| ZIGGO BOND CO BV                                                 | Ziggo Bond Co BV                                                                 | CUSIP: 000000000<br>LEI: 213800JYI4P7V5QDOG59 | Long             | DBT              | CORP              | NL        |      2392000 | PA      | $2503166.38   | 0.01%             | 2032-11-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2025-NQM1                                    | CUSIP: 64832DAC5<br>LEI: 213800CZKHCTHKMD9W65 | Long             | ABS-MBS          | CORP              | US        |      2973786 | PA      | $3006047.06   | 0.02%             | 2065-01-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| MTN Commercial Mortgage Trust                                    | MTN Commercial Mortgage Trust 2026-LPFX                                          | CUSIP: 624944AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2880000 | PA      | $2896650.00   | 0.02%             | 2043-05-15      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | Oak Hill Credit Partners X-R Ltd                                                 | CUSIP: 67707CBL1<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      2950000 | PA      | $2934961.20   | 0.02%             | 2038-04-20      | Floating      | 6.18%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                          | NYMT 2024-RR1 Trust                                                              | CUSIP: 62956VAA3<br>LEI: 2549009GL7U73W4FX613 | Long             | ABS-MBS          | CORP              | US        |      4611961 | PA      | $4584199.97   | 0.03%             | 2064-05-25      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                              | Citigroup Commercial Mortgage Trust 2018-C5                                      | CUSIP: 17291DAF0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       425000 | PA      | $419023.01    | 0.00%             | 2051-06-10      | Variable      | 4.41%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-4                                    | CUSIP: 92262JAD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1086949 | PA      | $1065379.93   | 0.01%             | 2055-09-25      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                                                   | Brink's Co/The                                                                   | CUSIP: 109696AC8<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |       400000 | PA      | $409230.40    | 0.00%             | 2029-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                                         | Discovery Communications LLC                                                     | CUSIP: 25470DBZ1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |     10013000 | PA      | $7911146.14   | 0.05%             | 2040-06-01      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                         | Foundation Finance Trust 2025-2                                                  | CUSIP: 35042NAD7<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |       500892 | PA      | $497839.50    | 0.00%             | 2052-04-15      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| NYC Trust                                                        | NYCT Trust 2024-3ELV                                                             | CUSIP: 62956HAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7790000 | PA      | $7790000.00   | 0.05%             | 2029-08-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CONGO                                                | Congolese International Bond                                                     | CUSIP: 000000000<br>LEI: 529900BXT90HR4QTB688 | Long             | DBT              | NUSS              | CG        |      1265000 | PA      | $1220893.75   | 0.01%             | 2035-02-17      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                               | Regional Management Issuance Trust 2021-2                                        | CUSIP: 75907UAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1710000 | PA      | $1608026.54   | 0.01%             | 2033-08-15      | Fixed         | 2.35%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                          | Millrose Properties Inc                                                          | CUSIP: 601137AA0<br>LEI: N/A                  | Long             | DBT              |  | US        |      3851000 | PA      | $3900154.16   | 0.02%             | 2030-08-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                | Iron Mountain Inc                                                                | CUSIP: 46284VAF8<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      3806000 | PA      | $3753428.10   | 0.02%             | 2029-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                   | Morgan Stanley Capital I Trust 2021-230P                                         | CUSIP: 61772WAG2<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |      3338000 | PA      | $3137720.00   | 0.02%             | 2038-12-15      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| EQT Trust 2024-EXTR                                              | EQT Trust 2024-EXTR                                                              | CUSIP: 29439DAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7005804 | PA      | $7101701.28   | 0.04%             | 2041-07-05      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2024-6                                    | CUSIP: 92261BAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2479537 | PA      | $2352826.00   | 0.01%             | 2054-12-25      | Variable      | 10.28%                | No            |                  2 | On Loan: No      |
| LOTTOMATICA GROUP SPA                                            | Lottomatica Group Spa                                                            | CUSIP: 000000000<br>LEI: 549300R72LKEGT4EX026 | Long             | DBT              | CORP              | IT        |      2655000 | PA      | $3120311.94   | 0.02%             | 2032-04-30      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2025-VIS2                                               | CUSIP: 46659RAB3<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      8615132 | PA      | $8624891.37   | 0.05%             | 2055-12-25      | Variable      | 5.39%                 | No            |                  2 | On Loan: No      |
| ROBLOX CORP                                                      | ROBLOX Corp                                                                      | CUSIP: 771049AA1<br>LEI: 529900ANZDBDFU91SO19 | Long             | DBT              | CORP              | US        |      1875000 | PA      | $1775981.06   | 0.01%             | 2030-05-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                                              | Suzano Austria GmbH                                                              | CUSIP: 86964WAF9<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |      4833000 | PA      | $4936909.50   | 0.03%             | 2029-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| ARDONAGH FINCO LTD                                               | Ardonagh Finco Ltd                                                               | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |      6625000 | PA      | $6763339.94   | 0.04%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO XXVIII Ltd                                           | CUSIP: 08179KAN3<br>LEI: 549300VHDAICRAGZNJ35 | Long             | ABS-CBDO         | CORP              | JE        |       530000 | PA      | $531193.88    | 0.00%             | 2037-10-20      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| LT Autorahoitus                                                  | LT Rahoitus 2025-1 DAC                                                           | CUSIP: 000000000<br>LEI: 635400OFIJ3A8BN2BV40 | Long             | ABS-O            | CORP              | IE        |       200000 | PA      | $234644.73    | 0.00%             | 2036-07-18      | Floating      | 2.90%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust Series 2024-NQM1                                        | CUSIP: 465983AD6<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      2800000 | PA      | $2817186.40   | 0.02%             | 2064-02-25      | Variable      | 6.41%                 | No            |                  2 | On Loan: No      |
| CIT Mortgage Loan Trust                                          | CIT Mortgage Loan Trust 2007-1                                                   | CUSIP: 12559QAJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1516000 | PA      | $1471825.73   | 0.01%             | 2037-10-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                                           | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAB9<br>LEI: N/A                  | Long             | DBT              |  | US        |      4713000 | PA      | $4701722.26   | 0.03%             | 2028-10-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| First Horizon Alternative Mortgage Securities                    | First Horizon Alternative Mortgage Securities Trust 2006-AA7                     | CUSIP: 32052CAA1<br>LEI: 5493005TE20WPW8O1W08 | Long             | ABS-MBS          | CORP              | US        |       814136 | PA      | $627029.48    | 0.00%             | 2037-01-25      | Variable      | 4.58%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust                                 | Vista Point Securitization Trust Series 2024-CES2                                | CUSIP: 92841YAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4952194 | PA      | $4946338.68   | 0.03%             | 2054-10-25      | Variable      | 5.25%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                            | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAQ5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3085000 | PA      | $3234261.56   | 0.02%             | 2032-05-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO XXVII Ltd                                            | CUSIP: 08179PAQ5<br>LEI: 254900WANE6M5S0NC534 | Long             | ABS-CBDO         | CORP              | JE        |      7500000 | PA      | $7513010.25   | 0.04%             | 2037-10-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2021-NQM2R                                   | CUSIP: 64831EAA8<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       651728 | PA      | $627454.09    | 0.00%             | 2058-10-25      | Variable      | 0.94%                 | No            |                  2 | On Loan: No      |
| Henley Funding Ltd.                                              | Henley Clo Xi DAC                                                                | CUSIP: 000000000<br>LEI: 6354004ZEQIYPXESRG76 | Long             | ABS-CBDO         | CORP              | IE        |      2280000 | PA      | $2651249.56   | 0.02%             | 2039-04-25      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                          | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       620000 | PA      | $602153.55    | 0.00%             | 2029-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SIERRACOL ENRGY ANDINA                                           | SierraCol Energy Andina LLC                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1255000 | PA      | $1213810.90   | 0.01%             | 2028-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | Ellington Financial Mortgage Trust 2022-2                                        | CUSIP: 31572YAB4<br>LEI: 254900UDLJF220C8I638 | Long             | ABS-MBS          | CORP              | US        |      1550025 | PA      | $1470227.22   | 0.01%             | 2067-04-25      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| MAHLE GMBH                                                       | Mahle GmbH                                                                       | CUSIP: 000000000<br>LEI: 52990098TR1QJBWIYG58 | Long             | DBT              | CORP              | DE        |       200000 | PA      | $227679.42    | 0.00%             | 2028-05-14      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| Mortimer BTL Plc                                                 | Mortimer 2025-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800PI5SCJ8WPLJX58 | Long             | ABS-MBS          | CORP              | GB        |      2229379 | PA      | $3035125.67   | 0.02%             | 2070-09-22      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | USD P BRL C @5.114000 EO                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | KY        |    -67837000 | OU      | $-2135169.58  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                                   | Azorra Finance Ltd                                                               | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |       644000 | PA      | $659671.74    | 0.00%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2026-R1                                               | CUSIP: 924932AC0<br>LEI: 213800IRNLDELLG4XV07 | Long             | ABS-MBS          | CORP              | US        |      2489647 | PA      | $2466970.38   | 0.01%             | 2067-10-25      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trust                                  | Durst Commercial Mortgage Trust 2025-151                                         | CUSIP: 266895AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3861000 | PA      | $3902029.30   | 0.02%             | 2042-08-10      | Variable      | 5.32%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust                      | MF1 2025-FL20 LLC                                                                | CUSIP: 59319CAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     10159000 | PA      | $10178282.80  | 0.06%             | 2043-02-18      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | BR        |            1 | NC      | $2335736.25   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2025-8                                                  | CUSIP: 03466UAA2<br>LEI: 254900WZRTR935QJJ709 | Long             | ABS-MBS          | CORP              | US        |      6733551 | PA      | $6769024.34   | 0.04%             | 2070-07-25      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2024-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400IRBWDPWKGK1C24 | Long             | ABS-O            | CORP              | GB        |       301392 | PA      | $410436.07    | 0.00%             | 2031-08-20      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2026-1                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |      9697000 | PA      | $6975911.43   | 0.04%             | 2034-03-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                         | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      6366000 | PA      | $6370323.15   | 0.04%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited                  | HOMES 2025-NQM5 Trust                                                            | CUSIP: 43762CAA9<br>LEI: 2549001JI3VOZZFMYK81 | Long             | ABS-MBS          | CORP              | US        |     13219386 | PA      | $13169048.17  | 0.08%             | 2070-09-25      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                | Iron Mountain Inc                                                                | CUSIP: 000000000<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |     14661000 | PA      | $16652282.14  | 0.10%             | 2034-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                   | CUSIP: 000000000<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      1950000 | PA      | $2223352.11   | 0.01%             | 2036-11-07      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Montgomery Square Consumer Funding 1 plc                         | Montgomery Square Consumer Funding 1 PLC                                         | CUSIP: 000000000<br>LEI: 2138008R3BLOJPE63Y08 | Long             | ABS-O            | CORP              | GB        |       169000 | PA      | $230047.65    | 0.00%             | 2036-03-17      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                            | GFL Environmental Inc                                                            | CUSIP: 36168QAP9<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |      1510000 | PA      | $1477120.81   | 0.01%             | 2029-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD COP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $1130565.56   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | FSWP: OIS 5.090000 17-JUN-2031 CLI                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |   4229820000 | OU      | $171.51       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Shentel Issuer LLC                                               | Shentel Issuer LLC                                                               | CUSIP: 82321AAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4771000 | PA      | $4822793.02   | 0.03%             | 2055-12-20      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| ALUMINA PTY LTD                                                  | Alumina Pty Ltd                                                                  | CUSIP: 02220AAB3<br>LEI: 2138002VD9MW2WT8HR38 | Long             | DBT              | CORP              | AU        |      1690000 | PA      | $1737592.09   | 0.01%             | 2032-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-3                                                | CUSIP: 924928AA2<br>LEI: 213800DYYV3EM7TSTN14 | Long             | ABS-MBS          | CORP              | US        |      7243307 | PA      | $7297748.03   | 0.04%             | 2070-05-25      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                           | EquipmentShare.com Inc                                                           | CUSIP: 29450YAB5<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |      4523000 | PA      | $4796935.50   | 0.03%             | 2032-05-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| ZEGONA COMMUNICATIONS PLC                                        | Zegona Communications PLC 2026 EUR Repriced Term Loan B                          | CUSIP: 000000000<br>LEI: 213800UXDFOAHVOOVX08 | Long             | LON              | CORP              | GB        |      1500000 | PA      | $1767252.36   | 0.01%             | 2029-07-17      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| Triton Trust                                                     | Triton Bond Trust 2026-1 in respect of Series 1                                  | CUSIP: 000000000<br>LEI: 549300TDCKWE7KRFWH59 | Long             | ABS-MBS          | CORP              | AU        |      9020000 | PA      | $6436803.85   | 0.04%             | 2058-02-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                                                | Trimaran Cavu 2021-2 Ltd                                                         | CUSIP: 89624UAU6<br>LEI: 254900IFDJE1IJQ1HT84 | Long             | ABS-CBDO         | CORP              | KY        |      3300000 | PA      | $3250513.86   | 0.02%             | 2034-10-25      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                                          | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 049362AA4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |       600000 | PA      | $591028.32    | 0.00%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Castell                                                          | Castell 2025-1 PLC                                                               | CUSIP: 000000000<br>LEI: 2138002O8DSFIQGKRU14 | Long             | ABS-MBS          | CORP              | GB        |       588944 | PA      | $804588.80    | 0.00%             | 2062-01-27      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 8.270000 05-DEC-2035 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    134181715 | OU      | $11699.33     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Whitebox CLO I Ltd                                               | Whitebox CLO III Ltd                                                             | CUSIP: 96467HAU0<br>LEI: 549300JXCQSPB1A61C68 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $749972.33    | 0.00%             | 2035-10-15      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED TRY / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | TR        |            1 | NC      | $7326.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | FTA Consumo Santander                                                            | CUSIP: 000000000<br>LEI: 9845003Q6DEF3R087B56 | Long             | ABS-O            | CORP              | ES        |       113500 | PA      | $133501.81    | 0.00%             | 2038-07-20      | Floating      | 3.54%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                                         | Albion Financing 1 SARL / Aggreko Holdings Inc                                   | CUSIP: 01330AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |      3714000 | PA      | $3836562.00   | 0.02%             | 2030-05-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Bahrain Government International Bonds                           | Bahrain Government International Bonds                                           | CUSIP: 000000000<br>LEI: 549300RODM1WN85LFQ95 | Long             | DBT              | NUSS              | BH        |       608000 | PA      | $564938.40    | 0.00%             | 2032-09-16      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                                         | Performance Food Group Inc                                                       | CUSIP: 71376LAE0<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |      4992000 | PA      | $4839764.47   | 0.03%             | 2029-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2025-1 PLC                                              | CUSIP: 000000000<br>LEI: 6354003DBF3NI8QJRR63 | Long             | ABS-MBS          | CORP              | GB        |       871365 | PA      | $1187008.68   | 0.01%             | 2067-05-17      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| VTR Commercial Mortgage Trust                                    | VTR Commercial Mortgage Trust 2025-STEM                                          | CUSIP: 92890YAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3904000 | PA      | $3842327.73   | 0.02%             | 2039-10-13      | Variable      | 6.71%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                | EURO-SCHATZ FUT JUN26                                                            | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         7292 | NC      | $-1566763.48  | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chase Mortgage Finance Corporation                               | Chase Home Lending Mortgage Trust Series 2024-3                                  | CUSIP: 16159HAD9<br>LEI: 529900A7SLLSJMEDIN80 | Long             | ABS-MBS          | CORP              | US        |      2584512 | PA      | $2597118.98   | 0.02%             | 2055-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| LGI HOMES INC                                                    | LGI Homes Inc                                                                    | CUSIP: 50187TAK2<br>LEI: 549300W02B4WNV8CV109 | Long             | DBT              | CORP              | US        |      4529000 | PA      | $4340428.83   | 0.03%             | 2032-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| College Ave Student Loans                                        | College Ave Student Loans 2021-C LLC                                             | CUSIP: 19424WAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       129864 | PA      | $119084.62    | 0.00%             | 2055-07-26      | Fixed         | 2.72%                 | No            |                  2 | On Loan: No      |
| SREIT Trust                                                      | SREIT Trust 2021-MFP2                                                            | CUSIP: 85236WCJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       265000 | PA      | $264917.19    | 0.00%             | 2036-11-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-9                                                | CUSIP: 92490EAL7<br>LEI: 2138002AFCEWDDRL8N22 | Long             | ABS-MBS          | CORP              | US        |      1735000 | PA      | $1722266.49   | 0.01%             | 2070-10-27      | Variable      | 6.54%                 | No            |                  2 | On Loan: No      |
| SMR 2022-IND Mortgage Trust                                      | SMR 2022-IND Mortgage Trust                                                      | CUSIP: 78458MAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2129846 | PA      | $2125577.38   | 0.01%             | 2039-02-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                  | Republic Finance Issuance Trust 2024-A                                           | CUSIP: 76041RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6024000 | PA      | $6049093.57   | 0.04%             | 2032-08-20      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XXXIII Ltd                                                  | CUSIP: 55819JAQ6<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |       475000 | PA      | $475877.37    | 0.00%             | 2032-10-15      | Floating      | 5.47%                 | No            |                  2 | On Loan: No      |
| Alinea CLO LTD                                                   | Alinea CLO 2018-1 Ltd                                                            | CUSIP: 016269AG7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       542563 | PA      | $540917.58    | 0.00%             | 2031-07-20      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                         | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAF3<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |      6509000 | PA      | $6776832.33   | 0.04%             | 2030-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CIT Mortgage Loan Trust                                          | CIT Mortgage Loan Trust 2007-1                                                   | CUSIP: 12559QAK8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3321271 | PA      | $3488894.77   | 0.02%             | 2037-10-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance Issuance Trust 2021-A                                            | CUSIP: 56848DAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       410310 | PA      | $403914.51    | 0.00%             | 2036-03-20      | Fixed         | 1.86%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                  | Nissan Motor Co Ltd                                                              | CUSIP: 654922AC7<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |      3534000 | PA      | $3684053.96   | 0.02%             | 2032-07-17      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Saudi Government International Bonds                             | Saudi Government International Bonds                                             | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |      7908000 | PA      | $7937655.00   | 0.05%             | 2028-01-18      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                        | CIM Trust 2023-I2                                                                | CUSIP: 12570HAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5095000 | PA      | $5047665.62   | 0.03%             | 2067-12-25      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                                | Service Corp International/US                                                    | CUSIP: 817565CF9<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |       766000 | PA      | $712510.68    | 0.00%             | 2030-08-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.664700 01-JUN-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    116342298 | OU      | $10282.36     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                            | ARI Fleet Lease Trust 2024-A                                                     | CUSIP: 00218KAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       469000 | PA      | $475047.66    | 0.00%             | 2032-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2024-INV4 Trust                                                             | CUSIP: 367919AB3<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |      4524642 | PA      | $4520352.87   | 0.03%             | 2054-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                                           | Energizer Holdings Inc                                                           | CUSIP: 29272WAC3<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |       757000 | PA      | $746682.92    | 0.00%             | 2028-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| CLOUD SOFTWARE GROUP INC                                         | Cloud Software Group Inc 2025 EUR Term Loan B                                    | CUSIP: 000000000<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | LON              | CORP              | US        |      4558436 | PA      | $5092243.22   | 0.03%             | 2032-08-13      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos Clo LIV                                                                   | CUSIP: 03771RAJ0<br>LEI: 254900SXYQWBYZA9L226 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1489023.00   | 0.01%             | 2038-10-20      | Floating      | 7.58%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                         | Brazil Notas do Tesouro Nacional Serie F                                         | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    401586000 | PA      | $79174413.80  | 0.47%             | 2027-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| KAPLA HOLDING SAS                                                | Kapla Holding SAS                                                                | CUSIP: 000000000<br>LEI: 894500PJ28XTH66K4X83 | Long             | DBT              | CORP              | FR        |     17777000 | PA      | $20847078.60  | 0.12%             | 2031-04-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2025-VIS3                                               | CUSIP: 46594EAH7<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1680333 | PA      | $1641523.52   | 0.01%             | 2066-02-25      | Variable      | 7.22%                 | No            |                  2 | On Loan: No      |
| Stratton Mortgage Funding PLC                                    | Stratton Mortgage Funding 2024-3 PLC                                             | CUSIP: 000000000<br>LEI: 635400HN3D5CAXKQB937 | Long             | ABS-MBS          | CORP              | GB        |       179000 | PA      | $243408.32    | 0.00%             | 2049-06-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| ALLWYN ENTERTAINMENT FIN                                         | Allwyn Entertainment Financing UK PLC                                            | CUSIP: 000000000<br>LEI: 315700J7ZTIN8XGCX365 | Long             | DBT              | CORP              | GB        |      4421000 | PA      | $5102678.35   | 0.03%             | 2031-08-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| SCIH SALT HOLDINGS INC                                           | SCIH Salt Holdings Inc                                                           | CUSIP: 78433BAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3285000 | PA      | $3252825.07   | 0.02%             | 2028-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SC GERMANY CONSUMER                                              | SC Germany SA Compartment Consumer 2025-1                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | DE        |       100000 | PA      | $118029.96    | 0.00%             | 2038-12-14      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD IDR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $324391.75    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TEAMSYSTEM SPA                                                   | TeamSystem SpA                                                                   | CUSIP: 000000000<br>LEI: 81560062081DF3AB7A90 | Long             | DBT              | CORP              | IT        |      1842000 | PA      | $2103513.53   | 0.01%             | 2031-07-31      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance Issuance Trust 2025-B                                            | CUSIP: 56847TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5113000 | PA      | $5088077.19   | 0.03%             | 2038-11-22      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| OFFICE CHERIFIEN DES PHO                                         | OCP SA                                                                           | CUSIP: 000000000<br>LEI: 213800D26TAPVTCVWG40 | Long             | DBT              | CORP              | MA        |       521000 | PA      | $416445.72    | 0.00%             | 2051-06-23      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust                      | MF1 2025-FL19 LLC                                                                | CUSIP: 55287KAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      8617000 | PA      | $8633804.01   | 0.05%             | 2042-05-18      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                      | PURCHASED IDR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | ID        |            1 | NC      | $-21853.13    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PROSUS NV                                                        | Prosus NV                                                                        | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |       935000 | PA      | $644916.25    | 0.00%             | 2050-08-03      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO V-B Ltd                                              | CUSIP: 08181JAH5<br>LEI: 254900TPMKEES6UQHQ33 | Long             | ABS-CBDO         | CORP              | KY        |      3340000 | PA      | $3344331.65   | 0.02%             | 2037-07-20      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| MUTHOOT FINANCE LTD                                              | Muthoot Finance Ltd                                                              | CUSIP: 62828M2D2<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |      1000000 | PA      | $1005635.00   | 0.01%             | 2029-04-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                | Post Holdings Inc                                                                | CUSIP: 737446AX2<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |       901000 | PA      | $889432.96    | 0.01%             | 2034-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UZBEKISTAN INTL BOND                                             | Republic of Uzbekistan International Bond                                        | CUSIP: 000000000<br>LEI: 213800L6VDKUM3TCM927 | Long             | DBT              | NUSS              | UZ        |  15430000000 | PA      | $1360000.12   | 0.01%             | 2027-05-29      | Fixed         | 16.63%                | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                    | Citigroup Inc                                                                    | CUSIP: 172967PF2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      9990000 | PA      | $10142256.99  | 0.06%             | 2030-02-13      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-AIRC                                           | CUSIP: 12433CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10203210 | PA      | $10231615.67  | 0.06%             | 2041-08-15      | Floating      | 5.35%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5049000 | PA      | $5110708.88   | 0.03%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Pepper Residential Securities Trust                              | Pepper Prime 2025-1 Trust                                                        | CUSIP: 000000000<br>LEI: 984500E40EDT6B13R494 | Long             | ABS-MBS          | CORP              | AU        |       770000 | PA      | $551068.73    | 0.00%             | 2067-04-12      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                                                | Trimaran Cavu 2021-2 Ltd                                                         | CUSIP: 89624UAN2<br>LEI: 254900IFDJE1IJQ1HT84 | Long             | ABS-CBDO         | CORP              | KY        |     11000000 | PA      | $10997899.00  | 0.07%             | 2034-10-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| SoFi Personal Loan Trust                                         | SoFi Personal Loan Trust 2024-1                                                  | CUSIP: 83407RAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       199404 | PA      | $199562.30    | 0.00%             | 2031-02-12      | Fixed         | 6.06%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                               | Regional Management Issuance Trust 2025-1                                        | CUSIP: 75908AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5337000 | PA      | $5369617.08   | 0.03%             | 2034-04-17      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD COP                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $-71898.15    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morglas ABS 2025-1 PLC                                           | Morglas Abs 2025-1 PLC                                                           | CUSIP: 000000000<br>LEI: 213800H5DGC5P7QYOI11 | Long             | ABS-O            | CORP              | GB        |      1511208 | PA      | $2057807.76   | 0.01%             | 2040-09-15      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD HUF                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $88265.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2020-A                                          | CUSIP: 78449UAB4<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |        72785 | PA      | $70690.79     | 0.00%             | 2037-09-15      | Fixed         | 2.23%                 | No            |                  2 | On Loan: No      |
| HIKMA FINANCE USA LLC                                            | Hikma Finance USA LLC                                                            | CUSIP: 000000000<br>LEI: 213800BU7YH2WTM1QL87 | Long             | DBT              | CORP              | US        |      5126000 | PA      | $5121232.82   | 0.03%             | 2030-07-08      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| WORLDLINE SA/FRANCE                                              | Worldline SA/France                                                              | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | DBT              | CORP              | FR        |      3700000 | PA      | $4010416.02   | 0.02%             | 2028-09-12      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| UPG HI Issuer Trust                                              | UPG HI 2025-2 Issuer Trust                                                       | CUSIP: 90321EAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1913092 | PA      | $1899017.92   | 0.01%             | 2047-09-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                         | Republic of South Africa Government Bond                                         | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    964236609 | PA      | $54801142.40  | 0.33%             | 2031-02-28      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                   | USD C ZAR P @17.50000 EO                                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | KY        |     14185000 | OU      | $17929.84     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-1NYP                               | One New York Plaza Trust 2020-1NYP                                               | CUSIP: 68249DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       943908 | PA      | $917361.03    | 0.01%             | 2036-01-15      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| Meridian Funding 2025-1 PLC                                      | Meridian Funding 2025-1 PLC                                                      | CUSIP: 000000000<br>LEI: 6354007VNVP2YBYBAX64 | Long             | ABS-MBS          | CORP              | GB        |       570000 | PA      | $774381.68    | 0.00%             | 2068-02-20      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                               | USD/CNH One-touch barrier option; Barrier price USD 6.65000                      | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |      1202000 | OU      | $53974.61     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BLOCK INC                                                        | Block Inc                                                                        | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |       767000 | PA      | $696532.34    | 0.00%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2024-NQM4                                        | CUSIP: 10568NAA0<br>LEI: 254900NOKQW417VKV943 | Long             | ABS-MBS          | CORP              | US        |      1259089 | PA      | $1243805.29   | 0.01%             | 2060-01-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                         | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              |  | US        |      4895000 | PA      | $4812174.64   | 0.03%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TELEFLEX INC                                                     | Teleflex Inc                                                                     | CUSIP: 879369AF3<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |       954000 | PA      | $949056.75    | 0.01%             | 2027-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NSW ELECTRICITY NETWORKS                                         | NSW Electricity Networks Finance Pty Ltd                                         | CUSIP: 000000000<br>LEI: 5493009VPYKFFK7UXM97 | Long             | SN               | CORP              | AU        |       660000 | PA      | $481016.43    | 0.00%             | 2055-03-11      | Floating      | 6.20%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                          | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3707000 | PA      | $3726489.11   | 0.02%             | 2032-11-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                                         | OZLM XXIV Ltd                                                                    | CUSIP: 67113DBA1<br>LEI: 549300Y1XB6AVMQY8652 | Long             | ABS-CBDO         | CORP              | KY        |      1200000 | PA      | $1200345.96   | 0.01%             | 2032-07-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-A                                                 | CUSIP: 64035DAC0<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |     10883000 | PA      | $10887902.79  | 0.06%             | 2062-04-20      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Schoen Klinik SE                                                 | Schoen Klinik SE 2025 EUR Term Loan B                                            | CUSIP: 000000000<br>LEI: 5299005C8FSZLNO2KW98 | Long             | LON              | CORP              | DE        |      1000000 | PA      | $1180257.33   | 0.01%             | 2031-01-12      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                      | Rad CLO 10 Ltd                                                                   | CUSIP: 48662LAA9<br>LEI: 254900F50S9DCHTOVI65 | Long             | ABS-CBDO         | CORP              | KY        |      3510000 | PA      | $3511424.71   | 0.02%             | 2034-04-23      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| El Salvador Government International Bonds                       | El Salvador Government International Bonds                                       | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |       764000 | PA      | $818626.00    | 0.00%             | 2030-04-17      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Taurus CMBS                                                      | Taurus 2025-4 UK DAC                                                             | CUSIP: 000000000<br>LEI: 635400ARN6VSOEBJXY74 | Long             | ABS-MBS          | CORP              | IE        |       100000 | PA      | $135665.25    | 0.00%             | 2035-08-18      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                                          | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     12743000 | PA      | $14345707.18  | 0.09%             | 2033-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Turquoise V Trust                                                | TURQUOISE V TRUST SERIES 2026-1 TRUST                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      2470000 | PA      | $1772413.43   | 0.01%             | 2067-06-12      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| MARKET BIDCO FINCO PLC                                           | Market Bidco Finco PLC                                                           | CUSIP: 000000000<br>LEI: 549300UGYX6EBVHRVG53 | Long             | DBT              | CORP              | GB        |      5961000 | PA      | $6730859.63   | 0.04%             | 2031-01-31      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Sunrise Srl                                                      | Sunrise Spv 98 Srl                                                               | CUSIP: 000000000<br>LEI: 81560036AE47FD868675 | Long             | ABS-O            | CORP              | IT        |      1008000 | PA      | $1184990.90   | 0.01%             | 2051-04-27      | Floating      | 3.52%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                         | Republic of South Africa Government Bond                                         | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    176827000 | PA      | $10009660.82  | 0.06%             | 2048-02-28      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                         | Builders FirstSource Inc                                                         | CUSIP: 12008RAN7<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |      1086000 | PA      | $1062771.98   | 0.01%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Castell                                                          | Castell 2026-1 PLC                                                               | CUSIP: 000000000<br>LEI: 2138001VE6A22R7N6706 | Long             | ABS-MBS          | CORP              | GB        |      4244000 | PA      | $5784793.15   | 0.03%             | 2062-12-27      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| SAUDI INTERNATIONAL BOND                                         | Saudi Government International Bond                                              | CUSIP: 80413TBJ7<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |      4367000 | PA      | $4405211.25   | 0.03%             | 2028-01-13      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XXXII Ltd                                                           | CUSIP: 89642NAA4<br>LEI: 254900KN2E57M5580B74 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3007061.70   | 0.02%             | 2038-07-23      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Taubman Centers Commercial Mortgage Trust                        | TCO Commercial Mortgage Trust 2024-DPM                                           | CUSIP: 87231EAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2500000 | PA      | $2503125.00   | 0.01%             | 2039-12-15      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                         | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 26873CAB8<br>LEI: 5493000GJYE7GAQCUC61 | Long             | DBT              | CORP              | US        |       427000 | PA      | $441426.62    | 0.00%             | 2031-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Bridge Street CLO                                                | Bridge Street CLO III Ltd                                                        | CUSIP: 10806YAN0<br>LEI: 254900PNW8DFFG2S8664 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004601.40   | 0.01%             | 2037-10-20      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED COP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | CO        |            1 | NC      | $-2636.71     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MULTIVERSITY SPA                                                 | Multiversity SpA                                                                 | CUSIP: 000000000<br>LEI: 8945002RM8LY280ZUC12 | Long             | DBT              | CORP              | IT        |      4011000 | PA      | $4731260.30   | 0.03%             | 2031-05-17      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 9 Ltd                                                         | CUSIP: 67690AAW1<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002941.70   | 0.01%             | 2037-10-19      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                        | Towd Point Mortgage Trust 2022-1                                                 | CUSIP: 89170VAA6<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |       743806 | PA      | $705445.52    | 0.00%             | 2062-07-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Flatiron CLO Ltd                                                 | Flatiron CLO 21 Ltd                                                              | CUSIP: 33883PAQ0<br>LEI: 254900DN5GP1YLQEIW03 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250485.65    | 0.00%             | 2037-10-19      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                                            | American Airlines Inc                                                            | CUSIP: 023771T32<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |      3999000 | PA      | $4052662.58   | 0.02%             | 2028-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2025-3 PLC                                                               | CUSIP: 000000000<br>LEI: 2138004HHDTEKA2ZLF42 | Long             | ABS-MBS          | CORP              | GB        |      8835454 | PA      | $12035970.22  | 0.07%             | 2069-10-27      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| Palmer Square European Loan Funding 2020-1 DAC                   | Palmer Square European Loan Funding 2024-2 DAC                                   | CUSIP: 000000000<br>LEI: 254900G4AVDGFB7U1712 | Long             | ABS-CBDO         | CORP              | IE        |       730000 | PA      | $859337.73    | 0.01%             | 2034-05-15      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| European Loan Conduit                                            | Lagarino European Loan Conduit No 40 DAC                                         | CUSIP: 000000000<br>LEI: 635400BIYQM1LPPW1N05 | Long             | ABS-MBS          | CORP              | IE        |       948169 | PA      | $1108934.69   | 0.01%             | 2037-06-22      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| FIBER MIDCO SPA                                                  | Fiber Midco Spa                                                                  | CUSIP: 000000000<br>LEI: 8156000AFE5C06C4D309 | Long             | DBT              | CORP              | IT        |      1053065 | PA      | $903818.06    | 0.01%             | 2029-06-15      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                                | Battalion CLO IX Ltd                                                             | CUSIP: 07132EAS4<br>LEI: 549300JMWGEYZEC6GK98 | Long             | ABS-CBDO         | CORP              | KY        |      1233133 | PA      | $1233103.23   | 0.01%             | 2031-07-15      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                            | Mexico Government International Bonds                                            | CUSIP: 91087BAU4<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |      4596000 | PA      | $4663331.40   | 0.03%             | 2028-02-09      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 4 Ltd                                                         | CUSIP: 67098DBC6<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |       700000 | PA      | $701891.26    | 0.00%             | 2038-01-22      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| UNITED OVERSEAS BANK LTD                                         | United Overseas Bank Ltd                                                         | CUSIP: 000000000<br>LEI: IO66REGK3RCBAMA8HR66 | Long             | DBT              | CORP              | SG        |      4000000 | PA      | $3128935.17   | 0.02%             | 2033-01-21      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DUBAI GOVT INT'L BONDS                                           | Emirate of Dubai Government International Bonds                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | AE        |       891000 | PA      | $632948.58    | 0.00%             | 2050-09-09      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2024-2                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |       100000 | PA      | $136788.96    | 0.00%             | 2032-07-15      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| Henley Funding Ltd.                                              | Henley CLO XVII DAC                                                              | CUSIP: 000000000<br>LEI: 635400ATIFCV7PKUJR11 | Long             | ABS-CBDO         | CORP              | IE        |      1792000 | PA      | $2103180.24   | 0.01%             | 2039-07-25      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                                           | Clearway Energy Operating LLC                                                    | CUSIP: 18539UAC9<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |      3736000 | PA      | $3712251.74   | 0.02%             | 2028-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                            | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAH0<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |      4160000 | PA      | $4026187.36   | 0.02%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                         | Builders FirstSource Inc                                                         | CUSIP: 12008RAS6<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |      4530000 | PA      | $4507518.52   | 0.03%             | 2034-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                           | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAE7<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |        95000 | PA      | $96060.68     | 0.00%             | 2030-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |            1 | NC      | $-790.04      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Together Asset Backed Securitisation                             | Together Asset Backed Securitisation 14 2025-1ST1 PLC                            | CUSIP: 000000000<br>LEI: 213800ATT519H28VFU67 | Long             | ABS-MBS          | CORP              | GB        |       607442 | PA      | $826411.73    | 0.00%             | 2066-08-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| DEVT BANK OF MONGOLIA                                            | Development Bank of Mongolia LLC                                                 | CUSIP: 000000000<br>LEI: 254900HRWK3OKXS9UW60 | Long             | DBT              | NUSS              | MN        |      3124000 | PA      | $3224241.35   | 0.02%             | 2028-07-03      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $-31625.64    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2026-RCF1 Trust                                                             | CUSIP: 69383VAD5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       945455 | PA      | $898875.84    | 0.01%             | 2056-01-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 4.077000 12-DEC-2055 SOF                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    296000000 | OU      | $6527254.60   | 0.04%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Funding                                                    | Atlas Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800W2FS9Z1VKVEA38 | Long             | ABS-MBS          | CORP              | GB        |       650897 | PA      | $885600.18    | 0.01%             | 2067-07-20      | Floating      | 6.71%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                                       | Viasat Inc                                                                       | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |      4801000 | PA      | $4789453.11   | 0.03%             | 2027-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| KYRGYZ REP INTL BOND                                             | Kyrgyz Republic International Bond                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | KG        |      4028000 | PA      | $4112588.00   | 0.02%             | 2030-06-03      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CNY 1.590000 17-DEC-2028 CNR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    217444000 | OU      | $98673.04     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 5.980000 18-MAR-2031 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    104278247 | OU      | $1140.07      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Autoflorence                                                     | Autoflorence 4 Srl                                                               | CUSIP: 000000000<br>LEI: 815600C91B7AF7C88210 | Long             | ABS-O            | CORP              | IT        |      1032000 | PA      | $1206911.54   | 0.01%             | 2044-12-24      | Floating      | 2.99%                 | No            |                  2 | On Loan: No      |
| VF CORP                                                          | VF Corp                                                                          | CUSIP: 918204BB3<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |       791000 | PA      | $772203.23    | 0.00%             | 2027-04-23      | Fixed         | 2.80%                 | No            |                  2 | On Loan: —       |
| SUNOCO LP/FINANCE CORP                                           | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAN7<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |       100000 | PA      | $100122.10    | 0.00%             | 2028-03-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING AG                                      | Nidda Healthcare Holding AG 2025 EUR Repriced Term Loan B                        | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | LON              | CORP              | DE        |      5695960 | PA      | $6704180.95   | 0.04%             | 2032-12-09      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 9 Ltd                                                         | CUSIP: 67690AAN1<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5009623.50   | 0.03%             | 2037-10-19      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Verisure Holding AB                                              | Verisure Holding AB 2025 EUR Term Loan B                                         | CUSIP: 000000000<br>LEI: 549300VQQCWGISM3N408 | Long             | LON              | CORP              | SE        |      2000000 | PA      | $2351947.03   | 0.01%             | 2032-11-03      | Floating      | 4.28%                 | No            |                  2 | On Loan: No      |
| JAMES HARDIE INTL FIN                                            | James Hardie International Finance DAC                                           | CUSIP: 47032FAB5<br>LEI: 635400G32A4Q1LVQ8M88 | Long             | DBT              | CORP              | IE        |       651000 | PA      | $648957.29    | 0.00%             | 2028-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PACIFIC NATIONAL FINANCE                                         | Pacific National Finance Pty Ltd                                                 | CUSIP: 000000000<br>LEI: 213800SSTRDXLWWVF948 | Long             | DBT              | CORP              | AU        |      6030000 | PA      | $4337913.37   | 0.03%             | 2054-12-11      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                    | UBS Commercial Mortgage Trust                                                    | CUSIP: 90278MBF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1200500 | PA      | $1056398.82   | 0.01%             | 2052-10-15      | Variable      | 3.76%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust Series 2026-NQM2                                 | CUSIP: 105934AB9<br>LEI: 254900NOKQW417VKV943 | Long             | ABS-MBS          | CORP              | US        |      3199865 | PA      | $3172354.16   | 0.02%             | 2065-11-25      | Variable      | 4.77%                 | No            |                  2 | On Loan: No      |
| VONOVIA SE                                                       | Vonovia SE                                                                       | CUSIP: 000000000<br>LEI: 5299005A2ZEP6AP7KM81 | Long             | DBT              | CORP              | DE        |      4400000 | PA      | $4663035.50   | 0.03%             | 2030-07-09      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO1, LTD                          | GoldenTree Loan Management US CLO 25 Ltd                                         | CUSIP: 38139XAC5<br>LEI: 254900NWYEI4MM854T50 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3007251.30   | 0.02%             | 2037-04-20      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2025-9 Mortgage Loan Trust                                                  | CUSIP: 12675LAG7<br>LEI: 2138009YFK2M431KTX57 | Long             | ABS-MBS          | CORP              | US        |      2900000 | PA      | $2894076.17   | 0.02%             | 2070-09-25      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners 48 LP                                                     | CUSIP: 38177DAQ1<br>LEI: 254900Q9J0ZXOH0PUQ28 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2506038.25   | 0.01%             | 2038-04-17      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                                                | Vedanta Resources Finance II PLC                                                 | CUSIP: 000000000<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |      3396000 | PA      | $3557310.00   | 0.02%             | 2030-07-24      | Fixed         | 9.48%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2020-A                                          | CUSIP: 78449UAC2<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       731731 | PA      | $731318.36    | 0.00%             | 2037-09-15      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| Autoflorence                                                     | Autoflorence 4 Srl                                                               | CUSIP: 000000000<br>LEI: 815600C91B7AF7C88210 | Long             | ABS-O            | CORP              | IT        |       572000 | PA      | $671060.43    | 0.00%             | 2044-12-24      | Floating      | 3.39%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                      | PRKCM 2025-AFC1 Trust                                                            | CUSIP: 69392YAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     14218547 | PA      | $14169471.31  | 0.08%             | 2060-10-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Cardiff Automobile Receivables Securitisation                    | Cardiff Auto Receivables Securitisation 2024-1 PLC                               | CUSIP: 000000000<br>LEI: 6354006GQBBANLIO8R45 | Long             | ABS-O            | CORP              | GB        |       230000 | PA      | $314568.59    | 0.00%             | 2031-08-20      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                                       | Arcosa Inc                                                                       | CUSIP: 039653AA8<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |       280000 | PA      | $273122.86    | 0.00%             | 2029-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust                      | MF1 2021-W10X                                                                    | CUSIP: 55284DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       130000 | PA      | $129353.67    | 0.00%             | 2034-12-15      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | CSMC Trust 2016-NXSR                                                             | CUSIP: 12594PAZ4<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |       900000 | PA      | $884004.39    | 0.01%             | 2049-12-15      | Variable      | 4.05%                 | No            |                  2 | On Loan: No      |
| Motogp Sports Entertainment Group, S.L.                          | Motogp Sports Entertainment Group SL 2025 EUR Term Loan B                        | CUSIP: 000000000<br>LEI: 95980020140005602218 | Long             | LON              | CORP              | ES        |      1750000 | PA      | $2063909.92   | 0.01%             | 2032-08-18      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO1, LTD                          | GoldenTree Loan Management US CLO 24 Ltd                                         | CUSIP: 38139VAC9<br>LEI: 254900PS1VHPJR2OTF82 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $1998112.00   | 0.01%             | 2038-10-20      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: OIS 1.492000 17-DEC-2035 THO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     50084751 | OU      | $79592.70     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED CHF / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | CH        |            1 | NC      | $-5623.01     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SAPIENCIA BIDCO SLU                                              | SAPIENCIA BIDCO SLU EUR TERM LOAN B                                              | CUSIP: 000000000<br>LEI: 254900VIB4XRJKYIVZ64 | Long             | LON              | CORP              | ES        |      1300000 | PA      | $1525958.20   | 0.01%             | 2033-02-18      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| BAYER AG                                                         | Bayer AG                                                                         | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |      7900000 | PA      | $10054224.15  | 0.06%             | 2083-09-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| FMC CORP                                                         | FMC Corp                                                                         | CUSIP: 302491AZ8<br>LEI: CKDHZ2X64EEBQCSP7013 | Long             | DBT              | CORP              | US        |     10844000 | PA      | $7186685.33   | 0.04%             | 2055-11-01      | Fixed         | 8.45%                 | No            |                  2 | On Loan: —       |
| NOBLE FINANCE II LLC                                             | Noble Finance II LLC                                                             | CUSIP: 65505PAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4660000 | PA      | $4846707.56   | 0.03%             | 2030-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GENMAB A/S/GENMAB FIN                                            | GENMAB A/S/GENMAB FINANCE LLC                                                    | CUSIP: 37230JAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | DK        |      1414000 | PA      | $1451117.50   | 0.01%             | 2032-12-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| HILL FL                                                          | Hill FL 2024-2 BV                                                                | CUSIP: 000000000<br>LEI: 724500H2AN902EY7W191 | Long             | ABS-O            | CORP              | NL        |        76905 | PA      | $89479.15     | 0.00%             | 2032-10-18      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| Autonoria                                                        | AutoNoria Spain 2025 FT                                                          | CUSIP: 000000000<br>LEI: 959800PAVFGQ48YNAE06 | Long             | ABS-O            | CORP              | ES        |       485858 | PA      | $571770.71    | 0.00%             | 2043-04-30      | Floating      | 2.97%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PDG8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     10040000 | PA      | $10094763.68  | 0.06%             | 2028-07-25      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2020-NQM1                                    | CUSIP: 64830VAB9<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       543207 | PA      | $514142.37    | 0.00%             | 2060-01-26      | Variable      | 2.72%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-D                                                 | CUSIP: 64034YAB7<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      1560061 | PA      | $1488686.33   | 0.01%             | 2062-04-20      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| NYC Trust                                                        | NYCT Trust 2024-3ELV                                                             | CUSIP: 62956HAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $996266.90    | 0.01%             | 2029-08-15      | Floating      | 6.49%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD COP                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $182306.21    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SAIF Securitization Trust                                        | SAIF Securitization Trust 2025-CES1                                              | CUSIP: 78438CAB7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2232000 | PA      | $2239791.47   | 0.01%             | 2065-06-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 5.645000 18-JUN-2036 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1283106100 | OU      | $21641.34     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | Onemain Financial Issuance Trust 2025-1                                          | CUSIP: 68270DAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12650000 | PA      | $12648191.05  | 0.08%             | 2038-07-14      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| SINCLAIR TELEVISION GROU                                         | Sinclair Television Group Inc                                                    | CUSIP: 829259BH2<br>LEI: 549300CQGEN0CH65UD62 | Long             | DBT              | CORP              | US        |      4064000 | PA      | $4208556.48   | 0.02%             | 2033-02-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Ford Credit Auto Owner Trust                                     | Ford Credit Auto Owner Trust 2022-D                                              | CUSIP: 345295AD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |         6278 | PA      | $6283.33      | 0.00%             | 2027-05-17      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                         | Republic of South Africa Government Bond                                         | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    493412676 | PA      | $28466571.63  | 0.17%             | 2037-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2019-2                                          | CUSIP: 68269BAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       350000 | PA      | $343233.56    | 0.00%             | 2036-10-14      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                  | Nissan Motor Co Ltd                                                              | CUSIP: 654922AD5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |      3209000 | PA      | $3385725.37   | 0.02%             | 2035-07-17      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Pony                                                             | Pony SA                                                                          | CUSIP: 000000000<br>LEI: 2221001FWHVHKUW4NQ77 | Long             | ABS-O            | CORP              | LU        |        79045 | PA      | $92772.63     | 0.00%             | 2033-01-14      | Floating      | 2.85%                 | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                                     | ADT Security Corp/The                                                            | CUSIP: 00109LAB9<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |      2188000 | PA      | $2155502.29   | 0.01%             | 2033-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2025-3                                                    | CUSIP: 525951AB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1083000 | PA      | $1070094.11   | 0.01%             | 2035-05-21      | Fixed         | 4.83%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD COP                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $-180373.44   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2025-A                                                 | CUSIP: 64033XAA2<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      4550000 | PA      | $4568427.05   | 0.03%             | 2057-03-15      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                                            | TRK 2022-INV1 Trust                                                              | CUSIP: 872635AB3<br>LEI: 25490023B58UP9CM5N96 | Long             | ABS-MBS          | CORP              | US        |      5975000 | PA      | $5256234.99   | 0.03%             | 2057-02-25      | Variable      | 3.44%                 | No            |                  2 | On Loan: No      |
| BAYER AG                                                         | Bayer AG                                                                         | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |     12800000 | PA      | $15218161.83  | 0.09%             | 2082-03-25      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Nigeria Government International Bonds                           | Nigeria Government International Bonds                                           | CUSIP: 000000000<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |      5843000 | PA      | $6248095.19   | 0.04%             | 2029-03-24      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                             | Colombian TES                                                                    | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 129716800000 | PA      | $28393743.29  | 0.17%             | 2030-09-18      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | Onemain Financial Issuance Trust 2025-1                                          | CUSIP: 68270DAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1072000 | PA      | $1075834.12   | 0.01%             | 2038-07-14      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2020-3                                                  | CUSIP: 46592ABD5<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       367681 | PA      | $4596.01      | 0.00%             | 2050-08-25      | Floating      | 0.21%                 | No            |                  2 | On Loan: No      |
| SC Austria                                                       | SC Austria Sarl                                                                  | CUSIP: 000000000<br>LEI: 81560007AFE688B7A894 | Long             | ABS-O            | CORP              | LU        |      1321000 | PA      | $1561873.44   | 0.01%             | 2041-07-25      | Floating      | 3.48%                 | No            |                  2 | On Loan: No      |
| Hermitage Plc                                                    | Hermitage 2025 PLC                                                               | CUSIP: 000000000<br>LEI: 635400MSBHAPT1EQBW93 | Long             | ABS-O            | CORP              | GB        |       101965 | PA      | $138273.78    | 0.00%             | 2033-04-21      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| BETCLIC EVEREST GROUP SA                                         | Betclic Everest Group SAS                                                        | CUSIP: 000000000<br>LEI: 96950037FKVH5JOEKU82 | Long             | DBT              | CORP              | FR        |      5890000 | PA      | $6929828.33   | 0.04%             | 2031-12-10      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Republic of Poland Government International Bonds                | Republic of Poland Government International Bonds                                | CUSIP: 731011AW2<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |       786000 | PA      | $732842.82    | 0.00%             | 2053-04-04      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TCW CLO 2019-1 AMR, LTD.                                         | TCW CLO 2019-1 AMR Ltd                                                           | CUSIP: 87241EAQ8<br>LEI: 549300RWQDI4UTTLDE63 | Long             | ABS-CBDO         | CORP              | KY        |      2200000 | PA      | $2202197.80   | 0.01%             | 2034-08-16      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| HUNTSMAN INTERNATIONAL L                                         | Huntsman International LLC                                                       | CUSIP: 44701QBE1<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |      1751000 | PA      | $1676908.75   | 0.01%             | 2029-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UNIPOL ASSICURAZIONI SPA                                         | Unipol Assicurazioni SpA                                                         | CUSIP: 000000000<br>LEI: 8156005CE5E7340CCA86 | Long             | DBT              | CORP              | IT        |      3600000 | PA      | $4369606.13   | 0.03%             | 2034-05-23      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| ZEGONA FINANCE PLC                                               | Zegona Finance PLC                                                               | CUSIP: 98927UAA5<br>LEI: 254900B3KC1SS7T2TE92 | Long             | DBT              | CORP              | GB        |      2821000 | PA      | $2950975.94   | 0.02%             | 2029-07-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2022-3                                                | CUSIP: 92538UAA9<br>LEI: 213800278TKDEXPH6140 | Long             | ABS-MBS          | CORP              | US        |      1712155 | PA      | $1634314.36   | 0.01%             | 2067-02-25      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos CLO XXXV                                                                  | CUSIP: 03768UAA7<br>LEI: 549300KJKTO0Q1OATW69 | Long             | ABS-CBDO         | CORP              | KY        |      2423665 | PA      | $2424722.93   | 0.01%             | 2034-04-20      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2021-2R Mortgage Loan Trust                                                 | CUSIP: 12656YAC1<br>LEI: 2138001HZNOLT1K3WY73 | Long             | ABS-MBS          | CORP              | US        |       766810 | PA      | $700120.35    | 0.00%             | 2054-07-27      | Fixed         | 1.21%                 | No            |                  2 | On Loan: No      |
| SV VANIR LOGISTICS FINANCE S.A R.L                               | Vanir Logistics Finance Sarl                                                     | CUSIP: 000000000<br>LEI: 636700UXUGBCCF9PA752 | Long             | ABS-MBS          | CORP              | LU        |      1024998 | PA      | $1198740.58   | 0.01%             | 2037-07-23      | Floating      | 3.98%                 | No            |                  2 | On Loan: No      |
| Whitebox CLO I Ltd                                               | Whitebox Clo V Ltd                                                               | CUSIP: 96467PAE8<br>LEI: 254900XFXCOZ882U2O02 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1003157.40   | 0.01%             | 2038-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS                     | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OA3 Trust | CUSIP: 939355AE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       237516 | PA      | $212355.45    | 0.00%             | 2047-04-25      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                            | Silver Point Clo 4 Ltd                                                           | CUSIP: 82809EAA8<br>LEI: 254900DVAEEJOXQ8PL85 | Long             | ABS-CBDO         | CORP              | JE        |      1170000 | PA      | $1170000.00   | 0.01%             | 2037-04-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2024-A                                          | CUSIP: 831943AB1<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      3046698 | PA      | $3065822.02   | 0.02%             | 2056-03-15      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                         | Rogers Communications Inc                                                        | CUSIP: 775109BS9<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |      1619000 | PA      | $1609831.17   | 0.01%             | 2082-03-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| SOUTH BOW CAN INFRA HOLD                                         | South Bow Canadian Infrastructure Holdings Ltd                                   | CUSIP: 836720AJ1<br>LEI: 2549004FYUSYLPBT1G26 | Long             | DBT              | CORP              | CA        |      1773000 | PA      | $1874476.77   | 0.01%             | 2055-03-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| SAUDI INTERNATIONAL BOND                                         | Saudi Government International Bond                                              | CUSIP: 80413TBE8<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |      1206000 | PA      | $1039379.04   | 0.01%             | 2053-01-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                           | Northern Oil & Gas Inc                                                           | CUSIP: 665531AL3<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |      4161000 | PA      | $4312437.51   | 0.03%             | 2033-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                   | CUSIP: 629377DG4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |      1071000 | PA      | $1066953.26   | 0.01%             | 2036-05-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                             | Garda World Security Corp                                                        | CUSIP: 36485MAP4<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |      3806000 | PA      | $3926947.07   | 0.02%             | 2032-11-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.179500 23-OCT-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     53705321 | OU      | $-73576.80    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                                              | Sound Point CLO V-R LTD                                                          | CUSIP: 83607EAC6<br>LEI: 549300UPX3H8ENJXHI23 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1003693.00   | 0.01%             | 2031-07-18      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | SWP: OIS 13.340000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |     25866000 | OU      | $-107994.90   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| INEOS QUATTRO FINANCE 2                                          | INEOS Quattro Finance 2 Plc                                                      | CUSIP: 000000000<br>LEI: 213800V48W4Y5MT5Q131 | Long             | DBT              | CORP              | GB        |      6023000 | PA      | $6877836.59   | 0.04%             | 2029-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                         | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAR0<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      4527000 | PA      | $4606852.75   | 0.03%             | 2029-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ATSOL GLOBAL IFSC LTD                                            | Atsol Global Ifsc Ltd                                                            | CUSIP: 000000000<br>LEI: 335800J9RXWUWKGFZJ54 | Long             | DBT              | CORP              | IN        |      5000000 | PA      | $4922450.00   | 0.03%             | 2041-04-09      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Chesapeake Funding II LLC                                        | Chesapeake Funding II LLC                                                        | CUSIP: 165183CU6<br>LEI: 5493000HT7H4OFOD6Z12 | Long             | ABS-O            | CORP              | US        |        24681 | PA      | $24696.39     | 0.00%             | 2035-05-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                                      | Chemours Co/The                                                                  | CUSIP: 163851AH1<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |       250000 | PA      | $239796.90    | 0.00%             | 2029-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| ELECTRICITE DE FRANCE SA                                         | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |      3800000 | PA      | $5295039.69   | 0.03%             | 2035-06-17      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TEAMSYSTEM SPA                                                   | TeamSystem SpA                                                                   | CUSIP: 000000000<br>LEI: 81560062081DF3AB7A90 | Long             | DBT              | CORP              | IT        |      5200000 | PA      | $5741213.46   | 0.03%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-AIR2                                           | CUSIP: 05613QAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3836721 | PA      | $3846312.37   | 0.02%             | 2041-10-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| WHARF Commercial Mortgage Trust                                  | WHARF Commercial Mortgage Trust 2025-DC                                          | CUSIP: 92987LAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3947000 | PA      | $4016428.91   | 0.02%             | 2040-07-15      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INTERNTNL LTD                                         | Transocean International Ltd                                                     | CUSIP: 893814AA1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | BM        |      4137000 | PA      | $4432977.53   | 0.03%             | 2032-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Cardiff Automobile Receivables Securitisation                    | Cardiff Auto Receivables Securitisation 2024-1 PLC                               | CUSIP: 000000000<br>LEI: 6354006GQBBANLIO8R45 | Long             | ABS-O            | CORP              | GB        |       175000 | PA      | $240798.27    | 0.00%             | 2031-08-20      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| Zambia Government International Bonds                            | Zambia Government International Bonds                                            | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |      4838951 | PA      | $4773625.21   | 0.03%             | 2033-06-30      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED ZAR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | ZA        |            1 | NC      | $-1231.54     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                                 | CARLYLE US CLO 2022-2 LTD                                                        | CUSIP: 143119AL9<br>LEI: 549300VC6J79YJCFU884 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002002.90   | 0.01%             | 2038-01-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2024-RCF3 LLC                                                               | CUSIP: 74390BAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2000000 | PA      | $1893159.20   | 0.01%             | 2054-05-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       615000 | PA      | $618054.71    | 0.00%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $4656.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                                | Iliad Holding SAS                                                                | CUSIP: 449691AC8<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |      5554000 | PA      | $5591983.81   | 0.03%             | 2028-10-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GAMMA Sociedade de Titularizacao de Creditos                     | GAMMA Sociedade de Titularizacao de Creditos SA Consumer Totta 3                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |       166826 | PA      | $195600.36    | 0.00%             | 2035-10-25      | Floating      | 3.67%                 | No            |                  2 | On Loan: No      |
| Blueberry Park CLO                                               | Blueberry Park CLO Ltd                                                           | CUSIP: 09609QAG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $1000903.00   | 0.01%             | 2037-10-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                                           | Republic of Poland Government Bond                                               | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     57039000 | PA      | $15648942.65  | 0.09%             | 2029-07-25      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| EDISON INTERNATIONAL                                             | Edison International                                                             | CUSIP: 281020AX5<br>LEI: 549300I7ROF15MAEVP56 | Long             | DBT              | CORP              | US        |      3318000 | PA      | $3404045.69   | 0.02%             | 2053-06-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: —       |
| FOUNDRY JV HOLDCO LLC                                            | Foundry JV Holdco LLC                                                            | CUSIP: 350930AB9<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |      5000000 | PA      | $5187350.70   | 0.03%             | 2030-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: —       |
| Wildwood Park CLO LTD                                            | Wildwood Park CLO Ltd                                                            | CUSIP: 96820DAA5<br>LEI: 254900BZ1VFIEIOEK304 | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $987945.10    | 0.01%             | 2037-10-20      | Floating      | 9.43%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2019-NQM4                                    | CUSIP: 64828EAC9<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      2316033 | PA      | $2233415.40   | 0.01%             | 2059-09-25      | Variable      | 2.80%                 | No            |                  2 | On Loan: No      |
| TELENET FINANCE LUX NOTE                                         | Telenet Finance Luxembourg Notes Sarl                                            | CUSIP: 000000000<br>LEI: 2138007RI9GLJPCC3E25 | Long             | DBT              | CORP              | LU        |      8600000 | PA      | $8506065.73   | 0.05%             | 2028-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| European Loan Conduit                                            | Lagarino European Loan Conduit No 40 DAC                                         | CUSIP: 000000000<br>LEI: 635400BIYQM1LPPW1N05 | Long             | ABS-MBS          | CORP              | IE        |       334435 | PA      | $390892.29    | 0.00%             | 2037-06-22      | Floating      | 4.76%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XXV Ltd                                                             | CUSIP: 89640BAQ7<br>LEI: 5493007IXHTJ7TQMIW41 | Long             | ABS-CBDO         | CORP              | BM        |      1000000 | PA      | $1001217.60   | 0.01%             | 2039-01-23      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| ONTEX GROUP NV                                                   | Ontex Group NV                                                                   | CUSIP: 000000000<br>LEI: 549300AQESC6JJOPW253 | Long             | DBT              | CORP              | BE        |      1802000 | PA      | $1922899.11   | 0.01%             | 2030-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AGL ENERGY LTD                                                   | AGL Energy Ltd                                                                   | CUSIP: 000000000<br>LEI: 549300QAZ8A74DEDXO80 | Long             | DBT              | CORP              | AU        |      6090000 | PA      | $4157160.44   | 0.02%             | 2035-09-30      | Fixed         | 5.77%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-1949783.39  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| STILLWATER MINING CO                                             | Stillwater Mining Co                                                             | CUSIP: 86074QAQ5<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |       701000 | PA      | $668140.63    | 0.00%             | 2029-11-16      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                            | GFL Environmental Inc                                                            | CUSIP: 36168QAL8<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |      2246000 | PA      | $2195007.94   | 0.01%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| Dowson                                                           | Dowson 2024-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400IRBWDPWKGK1C24 | Long             | ABS-O            | CORP              | GB        |       665000 | PA      | $906332.83    | 0.01%             | 2031-08-20      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Auto1 Car Funding                                                | Auto1 Car Funding Sarl                                                           | CUSIP: 000000000<br>LEI: 984500380CAE46K6F380 | Long             | ABS-O            | CORP              | LU        |       221622 | PA      | $260526.11    | 0.00%             | 2033-12-15      | Floating      | 2.70%                 | No            |                  2 | On Loan: No      |
| ZF EUROPE FINANCE BV                                             | ZF Europe Finance BV                                                             | CUSIP: 000000000<br>LEI: 549300RI533US2G6G542 | Long             | DBT              | CORP              | NL        |     12900000 | PA      | $14627940.01  | 0.09%             | 2032-02-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Palmer Square European Loan Funding 2020-1 DAC                   | Palmer Square European Loan Funding 2024-3 DAC                                   | CUSIP: 000000000<br>LEI: 254900IYUKLJNYNCCC63 | Long             | ABS-CBDO         | CORP              | IE        |       850000 | PA      | $1000692.71   | 0.01%             | 2034-05-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2025-3                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |      1907215 | PA      | $1369804.38   | 0.01%             | 2033-09-15      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| BAYER US FINANCE II LLC                                          | Bayer US Finance II LLC                                                          | CUSIP: 07274NAL7<br>LEI: 529900XWNEXYNJ3X6T40 | Long             | DBT              | CORP              | US        |      2535000 | PA      | $2515554.95   | 0.01%             | 2028-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| U.K. Gilts                                                       | U.K. Gilts                                                                       | CUSIP: 000000000<br>LEI: ECTRVYYCEF89VWYS6K36 | Long             | DBT              | NUSS              | GB        |     15219000 | PA      | $20639579.71  | 0.12%             | 2030-03-07      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                                                   | Czech Republic Government Bond                                                   | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    136190000 | PA      | $5631580.93   | 0.03%             | 2044-04-04      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SASOL FINANCING USA LLC                                          | Sasol Financing USA LLC                                                          | CUSIP: 000000000<br>LEI: 549300XRB1PFMESFEL85 | Long             | DBT              | CORP              | US        |       200000 | PA      | $210536.00    | 0.00%             | 2029-05-03      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Sculptor CLO Ltd                                                 | Sculptor CLO XXXVI LTD                                                           | CUSIP: 81125KAA3<br>LEI: 254900N93UKNW3W0WS40 | Long             | ABS-CBDO         | CORP              | KY        |      6400000 | PA      | $6412821.12   | 0.04%             | 2039-01-30      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| TREVA Equipment Finance                                          | TREVA Equipment Finance SA - Compartment 2024-1                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       245676 | PA      | $288403.99    | 0.00%             | 2035-01-20      | Floating      | 2.64%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                | Newell Brands Inc                                                                | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |      1598000 | PA      | $1596902.17   | 0.01%             | 2029-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| PLUSPETROL CAM/PLUS LOTE                                         | Pluspetrol Camisea SA / Pluspetrol Lote 56 SA                                    | CUSIP: 72941KAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | PE        |       636000 | PA      | $664747.20    | 0.00%             | 2036-07-03      | Fixed         | 6.24%                 | No            |                  2 | On Loan: —       |
| The Huntington National Bank                                     | Huntington Bank Auto Credit-Linked Notes Series 2024-1                           | CUSIP: 44644NAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       437298 | PA      | $438492.53    | 0.00%             | 2032-05-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | Santander Consumo 8 Fondo de Titulizacion                                        | CUSIP: 000000000<br>LEI: 529900MNYVA8N0FZJK96 | Long             | ABS-O            | CORP              | ES        |       600000 | PA      | $705338.35    | 0.00%             | 2040-01-21      | Floating      | 2.97%                 | No            |                  2 | On Loan: No      |
| TICP CLO Ltd                                                     | TICP CLO XI Ltd                                                                  | CUSIP: 87249QAL4<br>LEI: 254900JG2DPAYUCW8T83 | Long             | ABS-CBDO         | CORP              | KY        |       400000 | PA      | $400476.24    | 0.00%             | 2037-04-25      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                                         | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2358000 | PA      | $2426280.61   | 0.01%             | 2032-09-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED PHP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | PH        |            1 | NC      | $-15236.23    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Wellington Management CLO                                        | Wellington Management Clo 4 Ltd                                                  | CUSIP: 94957LAA7<br>LEI: 213800VJVBC3KZIDZU56 | Long             | ABS-CBDO         | CORP              | KY        |      3500000 | PA      | $3496473.40   | 0.02%             | 2038-04-18      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AG6<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |      4258000 | PA      | $4060596.99   | 0.02%             | 2029-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2023-6                                                  | CUSIP: 03464UAB2<br>LEI: 254900QAUT3NUZVCSB04 | Long             | ABS-MBS          | CORP              | US        |       171212 | PA      | $171722.85    | 0.00%             | 2067-12-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                                     | Magnera Corp                                                                     | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |      4936000 | PA      | $4621502.76   | 0.03%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Eurex Deutschland                                                | EURO-OAT FUTURE JUN26                                                            | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |          245 | NC      | $-701843.57   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| VOLKSWAGEN INTL FIN NV                                           | Volkswagen International Finance NV                                              | CUSIP: 000000000<br>LEI: 5299004PWNHKYTR23649 | Long             | DBT              | CORP              | NL        |     15500000 | PA      | $18327715.85  | 0.11%             | 2033-11-15      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                       | BFLD Trust 2025-EWEST                                                            | CUSIP: 05494JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8385000 | PA      | $8374547.26   | 0.05%             | 2042-06-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                          | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAC9<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |      1696000 | PA      | $1673260.25   | 0.01%             | 2026-09-16      | Fixed         | 1.85%                 | No            |                  2 | On Loan: No      |
| Regatta 30 Funding Ltd.                                          | Regatta 30 Funding Ltd                                                           | CUSIP: 75903UAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3006679.20   | 0.02%             | 2038-01-25      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 61 Clo Ltd                                                                | CUSIP: 26251CBE3<br>LEI: 549300JHVVT1NJ057H42 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3011805.30   | 0.02%             | 2032-01-17      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                                         | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3639000 | PA      | $3756477.84   | 0.02%             | 2029-07-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                                         | British Telecommunications PLC                                                   | CUSIP: 11102AAF8<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |      2339000 | PA      | $2318759.00   | 0.01%             | 2081-11-23      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Latitude Australia Credit Card Loan Note Trust                   | Latitude Australia Credit Card Master Trust Series 2026-1                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | AU        |      5568000 | PA      | $4003270.88   | 0.02%             | 2038-09-22      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2025-DSC2                                    | CUSIP: 36275JAG5<br>LEI: 254900Y4XCLF0D6VBG48 | Long             | ABS-MBS          | CORP              | US        |      1779666 | PA      | $1769511.58   | 0.01%             | 2066-01-25      | Variable      | 6.74%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                            | Mineral Resources Ltd                                                            | CUSIP: 603051AH6<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |       387000 | PA      | $382134.30    | 0.00%             | 2034-05-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | J.P. Morgan Mortgage Trust 2022-7                                                | CUSIP: 46655NCV0<br>LEI: 529900ELA1S09AZO9Q54 | Long             | ABS-MBS          | CORP              | US        |      2000000 | PA      | $1609761.00   | 0.01%             | 2052-12-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| TRUST 2401                                                       | Trust 2401                                                                       | CUSIP: 89834MAB2<br>LEI: N/A                  | Long             | DBT              |  | MX        |      1236000 | PA      | $1344619.68   | 0.01%             | 2032-01-23      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| BOOTS GROUP FINCO LP                                             | Boots Group Finco LP                                                             | CUSIP: 000000000<br>LEI: 254900YVLYOVF1PF1N93 | Long             | DBT              | CORP              | US        |      1116000 | PA      | $1327898.45   | 0.01%             | 2032-08-31      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2023-1                                                  | CUSIP: 03465WAA9<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      4051935 | PA      | $4042675.10   | 0.02%             | 2067-09-26      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| TEVA PHARMACEUTICALS NE                                          | Teva Pharmaceutical Finance Netherlands III BV                                   | CUSIP: 88167AAS0<br>LEI: 5493004T21MOAFINJP35 | Long             | DBT              | CORP              | NL        |      2824000 | PA      | $3041193.84   | 0.02%             | 2029-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Receivable Trust                        | Santander Mortgage Asset Receivable Trust 2025-NQM6                              | CUSIP: 80265DAA1<br>LEI: 2549003RXF6LNJ2GP990 | Long             | ABS-MBS          | CORP              | US        |     11906970 | PA      | $11889332.11  | 0.07%             | 2065-11-25      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| CZECH REPUBLIC                                                   | Czech Republic Government Bond                                                   | CUSIP: 000000000<br>LEI: 3157007EFDLQABN47912 | Long             | DBT              | NUSS              | CZ        |    239560000 | PA      | $11440095.30  | 0.07%             | 2032-11-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2024-H5 Mortgage Trust                                                     | CUSIP: 22757HAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4047920 | PA      | $4074710.22   | 0.02%             | 2069-08-26      | Variable      | 5.85%                 | No            |                  2 | On Loan: No      |
| STONEGATE PUB FIN                                                | Stonegate Pub Co Financing 2019 PLC                                              | CUSIP: 000000000<br>LEI: 254900L5266ML3505282 | Long             | DBT              | CORP              | GB        |      4595000 | PA      | $5392548.42   | 0.03%             | 2029-07-31      | Floating      | 8.62%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                   | CUSIP: 61747YFF7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      9925000 | PA      | $10107389.24  | 0.06%             | 2029-07-20      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| SLG Trust                                                        | SLG Office Trust 2026-OMA                                                        | CUSIP: 78451FAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2000000 | PA      | $2010119.20   | 0.01%             | 2041-04-15      | Variable      | 6.96%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                    | JP Morgan Chase Commercial Mortgage Securities Trust 2024-IGLG                   | CUSIP: 46593KAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1841000 | PA      | $1835484.51   | 0.01%             | 2039-11-09      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2021-IV Ltd                                                         | CUSIP: 12547DAL0<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      2250000 | PA      | $2255090.63   | 0.01%             | 2037-07-23      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRUST                                 | Sofi Consumer Loan Program 2026-B Trust                                          | CUSIP: 83407MAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1337000 | PA      | $1335432.63   | 0.01%             | 2036-02-25      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| European Loan Conduit                                            | Aesir European Loan Conduit No 41 DAC                                            | CUSIP: 000000000<br>LEI: 635400BIYQM1LPPW1N05 | Long             | ABS-MBS          | CORP              | IE        |      3619000 | PA      | $4898645.16   | 0.03%             | 2036-01-23      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Sand Trust                                                       | Sandstone Peak II Ltd                                                            | CUSIP: 80013TAL7<br>LEI: 254900ZRRTOYR8JJD593 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001719.20   | 0.01%             | 2038-07-20      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS SA                                                   | USD C BRL P @5.100000 EO                                                         | CUSIP: 000000000<br>LEI: N/A                  | N/A              | DFE              |  | US        |     14426000 | OU      | $191836.95    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UK Logisitics                                                    | UK Logistics 2025-1 DAC                                                          | CUSIP: 000000000<br>LEI: 635400LLQ82YFJBFFU27 | Long             | ABS-MBS          | CORP              | GB        |       591531 | PA      | $802526.10    | 0.00%             | 2035-05-17      | Floating      | 7.75%                 | No            |                  2 | On Loan: No      |
| ZIGGO BV                                                         | Ziggo BV                                                                         | CUSIP: 98955DAA8<br>LEI: 213800TQASLF9JXH5J59 | Long             | DBT              | CORP              | NL        |       733000 | PA      | $689515.95    | 0.00%             | 2030-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                                         | Brookfield Residential Properties Inc / Brookfield Residential US LLC            | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      5215000 | PA      | $4889225.21   | 0.03%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2022-D                                          | CUSIP: 78454XAC8<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      1290190 | PA      | $1319875.98   | 0.01%             | 2058-10-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2024-CNYN                                                               | CUSIP: 05612HAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1269072 | PA      | $1269865.02   | 0.01%             | 2041-04-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| TRUST 2401                                                       | Trust 2401                                                                       | CUSIP: 89834MAA4<br>LEI: N/A                  | Long             | DBT              |  | MX        |      1613000 | PA      | $1569731.28   | 0.01%             | 2030-01-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2024-NQM8                                        | CUSIP: 10571DAB5<br>LEI: 2549000KHGUZMZ31N203 | Long             | ABS-MBS          | CORP              | US        |      9140109 | PA      | $9000848.07   | 0.05%             | 2053-08-01      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| GT Loan Financing Ltd                                            | GT Loan Financing I Ltd 2013-1                                                   | CUSIP: 36248MAS6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      4250000 | PA      | $4257006.55   | 0.03%             | 2039-04-28      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                    | CUSIP: 893647BW6<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |       617000 | PA      | $622898.30    | 0.00%             | 2033-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| AUSTRALIAN METCOAL FINAN                                         | Australian Metcoal Financing Pty Ltd                                             | CUSIP: 000000000<br>LEI: 529900ZB2IL1HUTFQ193 | Long             | DBT              | CORP              | AU        |      1200000 | PA      | $1223600.34   | 0.01%             | 2034-04-22      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STENA INTERNATIONAL SA                                           | Stena International SA                                                           | CUSIP: 85858EAD5<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |      5127000 | PA      | $5212969.54   | 0.03%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                           | U.S. Treasury Bills                                                              | CUSIP: 912797TS6<br>LEI: 254900HROIFWPRGM1V77 | Long             | STIV             | UST               | US        |     35000000 | PA      | $34937161.70  | 0.21%             | 2026-05-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ARDAGH GROUP SA                                                  | Ardagh Group SA                                                                  | CUSIP: 000000000<br>LEI: 6354006L1NWUUOPYX274 | Long             | DBT              | CORP              | LU        |     12050231 | PA      | $12613648.74  | 0.07%             | 2030-12-01      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| VEDANTA RESOURCES                                                | Vedanta Resources Finance II PLC                                                 | CUSIP: 000000000<br>LEI: 8945002DGA3BBXO3N634 | Long             | DBT              | CORP              | GB        |      5035000 | PA      | $5343393.75   | 0.03%             | 2029-09-17      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| VISTRA CORP                                                      | Vistra Operations Co LLC                                                         | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      2408000 | PA      | $2407568.97   | 0.01%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                            | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAE7<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |       768000 | PA      | $778098.43    | 0.00%             | 2030-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2022-LBA6                                                               | CUSIP: 12433EAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2450000 | PA      | $2449234.38   | 0.01%             | 2039-01-15      | Floating      | 6.35%                 | No            |                  2 | On Loan: No      |
| GRAND CITY PROPERTIES SA                                         | Grand City Properties SA                                                         | CUSIP: 000000000<br>LEI: 5299002QLUYKK2WBMB18 | Long             | DBT              | CORP              | LU        |     14700000 | PA      | $17186335.87  | 0.10%             | 2026-05-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |     10861000 | PA      | $12594594.15  | 0.07%             | 2029-10-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                            | Mineral Resources Ltd                                                            | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |       991000 | PA      | $1020777.66   | 0.01%             | 2030-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD PEN                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-36228.12    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Inspired FinCo Holdings Limited                                  | Inspired FinCo Holdings Limited 2026 EUR Term Loan B8                            | CUSIP: 000000000<br>LEI: 21380079CKTODVMD9183 | Long             | LON              | CORP              | GB        |      1923171 | PA      | $2260559.73   | 0.01%             | 2031-02-28      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Cooper Consumer Health                                           | Cooper Consumer Health EUR Term Loan B1                                          | CUSIP: 000000000<br>LEI: 969500PBV3M3GSI8NZ84 | Long             | LON              | CORP              | FR        |            0 | PA      | $0.00         | 0.00%             | 2028-11-06      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                                           | CACI International Inc                                                           | CUSIP: 127190AG1<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |       190000 | PA      | $193325.00    | 0.00%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Ghana Government International Bonds                             | Ghana Government International Bonds                                             | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |        30020 | PA      | $29682.28     | 0.00%             | 2026-07-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INCREF LLC                                                       | INCREF LLC                                                                       | CUSIP: 45339NAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      8695000 | PA      | $8707929.47   | 0.05%             | 2042-10-19      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $3905.54      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Pikes Peak CLO                                                   | Pikes Peak CLO 18                                                                | CUSIP: 720916AA3<br>LEI: 391200E2KM6NQV10NK63 | Long             | ABS-CBDO         | CORP              | KY        |     10000000 | PA      | $10010181.00  | 0.06%             | 2038-04-20      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                     | Voya CLO 2019-3 Ltd                                                              | CUSIP: 92918FAF1<br>LEI: 254900MS3D9HONB0N824 | Long             | ABS-CBDO         | CORP              | KY        |      2899269 | PA      | $2900403.38   | 0.02%             | 2032-10-17      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS II LLC                                            | QTS Issuer ABS II LLC                                                            | CUSIP: 74690FAS5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1114000 | PA      | $1097547.89   | 0.01%             | 2056-01-05      | Fixed         | 6.73%                 | No            |                  2 | On Loan: No      |
| BEACH ACQUISITION BIDCO                                          | Beach Acquisition Bidco LLC                                                      | CUSIP: 07337JAC1<br>LEI: 254900F2FNX3GBTB6202 | Long             | DBT              | CORP              | US        |      4763772 | PA      | $5240192.07   | 0.03%             | 2033-07-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: —       |
| POLAND GOVERNMENT BOND                                           | Republic of Poland Government Bond                                               | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     58007000 | PA      | $15329695.59  | 0.09%             | 2034-10-25      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AMS-OSRAM AG                                                     | ams-OSRAM AG                                                                     | CUSIP: 000000000<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |      1100000 | PA      | $1258740.42   | 0.01%             | 2027-11-03      | Fixed         | 2.13%                 | No            |                  1 | On Loan: No      |
| Latitude Australia Credit Card Loan Note Trust                   | Latitude Australia Credit Card Master Trust Series 2026-1                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | AU        |      1501000 | PA      | $1077554.57   | 0.01%             | 2038-09-22      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF KENYA                                                | Republic of Kenya Government International Bond                                  | CUSIP: 000000000<br>LEI: 549300VVURQQYU45PR87 | Long             | DBT              | NUSS              | KE        |      6806000 | PA      | $6479312.00   | 0.04%             | 2033-10-09      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NEW IMMO HOLDING SA                                              | New Immo Holding SA                                                              | CUSIP: 000000000<br>LEI: 5493007LOTJ0I8E94R81 | Long             | DBT              | CORP              | FR        |      2700000 | PA      | $3132346.38   | 0.02%             | 2030-11-14      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Pakistan Government International Bonds                          | Pakistan Government International Bonds                                          | CUSIP: 000000000<br>LEI: 529900LOP29R5WKHOD86 | Long             | DBT              | NUSS              | PK        |      5657000 | PA      | $5459118.14   | 0.03%             | 2031-04-08      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Chile Government International Bonds                             | Chile Government International Bonds                                             | CUSIP: 168863DX3<br>LEI: 549300FLZTJM5YJF8D34 | Long             | DBT              | NUSS              | CL        |      3464000 | PA      | $3429360.00   | 0.02%             | 2027-01-31      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| CENTRAL GARDEN & PET CO                                          | Central Garden & Pet Co                                                          | CUSIP: 153527AN6<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |       111000 | PA      | $104830.72    | 0.00%             | 2030-10-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| BLACKROCK CASH FUNDS                                             | BlackRock Cash Funds: Treasury, SL Agency Shares                                 | CUSIP: 066922477<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    463105656 | NS      | $463244587.35 | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Ballyrock Ltd                                                    | Ballyrock CLO 28 Ltd                                                             | CUSIP: 05876HAE2<br>LEI: 2549006FL37LMQQU3H44 | Long             | ABS-CBDO         | CORP              | KY        |       500000 | PA      | $502213.50    | 0.00%             | 2038-01-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 6.255700 17-DEC-2030 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1216983966 | OU      | $49765.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | Lendingclub Rated Notes Issuer Trust Series 2026-P1                              | CUSIP: 52611W101<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        40000 | PA      | $13039.32     | 0.00%             | 2041-03-15      | Variable      | 0.01%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2021-A                                 | CUSIP: 63942BAA2<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |       225390 | PA      | $206266.78    | 0.00%             | 2069-05-15      | Fixed         | 0.84%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                                | Service Corp International/US                                                    | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |       280000 | PA      | $264549.60    | 0.00%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BIOCON BIOLOGICS GLOBAL                                          | Biocon Biologics Global PLC                                                      | CUSIP: 000000000<br>LEI: 254900PMQN51VACG2D55 | Long             | DBT              | CORP              | GB        |       300000 | PA      | $301650.00    | 0.00%             | 2029-10-09      | Fixed         | 6.67%                 | No            |                  2 | On Loan: —       |
| CreekSource (Dunes Creek) CLO Ltd                                | Creeksource 2024-1 Dunes Creek Clo Ltd                                           | CUSIP: 225914AJ9<br>LEI: 254900CZYOXX4AZ15302 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250953.25    | 0.00%             | 2038-01-15      | Floating      | 6.77%                 | No            |                  2 | On Loan: No      |
| EUROBANK SA                                                      | Eurobank SA                                                                      | CUSIP: 000000000<br>LEI: 213800KGF4EFNUQKAT69 | Long             | DBT              | CORP              | GR        |      3172000 | PA      | $3701389.17   | 0.02%             | 2035-04-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Techem Verwaltungsgesellschaft 675 mbH                           | Techem Verwaltungsgesellschaft 675 mbH 2025 EUR Term Loan B                      | CUSIP: 000000000<br>LEI: 529900N0M7FQHNAV1A41 | Long             | LON              | CORP              | DE        |      2000000 | PA      | $2359763.53   | 0.01%             | 2032-07-15      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                     | Voya CLO 2013-2 Ltd                                                              | CUSIP: 92916WAE9<br>LEI: 5493007ASGBOUR3XJY69 | Long             | ABS-CBDO         | CORP              | KY        |      1110558 | PA      | $1113069.87   | 0.01%             | 2031-04-25      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                            | Mexico Government International Bonds                                            | CUSIP: 91087BBD1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     11475000 | PA      | $12228046.88  | 0.07%             | 2055-05-13      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| MEDLINE BORROWER LP                                              | Medline Borrower LP                                                              | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |      7048000 | PA      | $7014245.01   | 0.04%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-11                                               | CUSIP: 924935AC3<br>LEI: 213800H1O4C5SRNN4B66 | Long             | ABS-MBS          | CORP              | US        |       259759 | PA      | $259032.97    | 0.00%             | 2070-11-25      | Variable      | 4.91%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                                   | Azorra Finance Ltd                                                               | CUSIP: 05480AAC9<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |      2510000 | PA      | $2403325.00   | 0.01%             | 2034-02-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Asset-Backed CTFS                              | Washington Mutual Asset-Backed Certificates WMABS Series 2007-HE2 Trust          | CUSIP: 93934TAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1438446 | PA      | $435798.65    | 0.00%             | 2037-02-25      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| ESSENDI SA                                                       | Essendi SA                                                                       | CUSIP: 000000000<br>LEI: 2221000MD2YP7WLTNC52 | Long             | DBT              | CORP              | LU        |      7133000 | PA      | $8376571.26   | 0.05%             | 2030-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CZK 3.968700 18-MAR-2031 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    154572730 | OU      | $-130910.64   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                                            | TRK 2021-INV1 Trust                                                              | CUSIP: 89688WAE1<br>LEI: 25490023B58UP9CM5N96 | Long             | ABS-MBS          | CORP              | US        |       255000 | PA      | $212135.55    | 0.00%             | 2056-07-25      | Variable      | 3.29%                 | No            |                  2 | On Loan: No      |
| Vasco Finance                                                    | TAGUS-Sociedade de Titularizacao de Creditos SA/Vasco Finance No. 2              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |        63339 | PA      | $74972.31     | 0.00%             | 2042-10-27      | Floating      | 4.55%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                           | Williams Cos Inc/The                                                             | CUSIP: 88339WAB2<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | DBT              | CORP              | US        |      9975000 | PA      | $10083617.68  | 0.06%             | 2029-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: —       |
| Silver Point CLO, Ltd                                            | Silver Point Clo 3 Ltd                                                           | CUSIP: 827925AL2<br>LEI: 5493000HU7LKTSD3BK48 | Long             | ABS-CBDO         | CORP              | JE        |      2000000 | PA      | $2004189.20   | 0.01%             | 2039-01-18      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED EUR / SOLD HUF                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | XX        |            1 | NC      | $-25541.29    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust 2021-909                           | NYC Commercial Mortgage Trust 2026-1325                                          | CUSIP: 67124GAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5500000 | PA      | $5503641.55   | 0.03%             | 2041-05-09      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                                         | Charles River Laboratories International Inc                                     | CUSIP: 159864AJ6<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |       476000 | PA      | $444410.26    | 0.00%             | 2031-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.730000 11-MAY-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    232698379 | OU      | $10716.41     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Matterhorn Telecom Holding SA                                    | Matterhorn Telecom Holding SA EUR Term Loan B                                    | CUSIP: 000000000<br>LEI: 549300MTB0YI26SMUT22 | Long             | LON              | CORP              | LU        |      1361702 | PA      | $1604154.23   | 0.01%             | 2032-01-30      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| KEHE DIST/FIN / NEXTWAVE                                         | KeHE Distributors LLC / KeHE Finance Corp / NextWave Distribution Inc            | CUSIP: 487930AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1900000 | PA      | $1923554.97   | 0.01%             | 2033-04-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| WEEKLEY HOMES LLC/ FINAN                                         | Weekley Homes LLC / Weekley Finance Corp                                         | CUSIP: 948565AD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |        30000 | PA      | $29331.98     | 0.00%             | 2028-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WESTCONNEX FINANCE CO PT                                         | WestConnex Finance Co Pty Ltd                                                    | CUSIP: 000000000<br>LEI: 254900CGI0XY1HBTHF74 | Long             | DBT              | CORP              | AU        |      3170000 | PA      | $2262865.83   | 0.01%             | 2036-04-30      | Fixed         | 6.41%                 | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | Lendingclub Rated Notes Issuer Trust Series 2026-P1                              | CUSIP: 52611WAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       207591 | PA      | $186146.45    | 0.00%             | 2037-08-15      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                         | Standard Building Solutions Inc                                                  | CUSIP: 853191AA2<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |      3598000 | PA      | $3633548.24   | 0.02%             | 2032-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| HESTIAFLOOR 2                                                    | Hestiafloor 2 2026 EUR Repriced Term Loan B                                      | CUSIP: 000000000<br>LEI: 969500P2FDMGGWHDLV86 | Long             | LON              | CORP              | FR        |      1500000 | PA      | $1761583.63   | 0.01%             | 2030-02-27      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                                         | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1613000 | PA      | $1497507.26   | 0.01%             | 2031-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO Ltd                                                | Park Blue CLO 2024-VI Ltd                                                        | CUSIP: 70019KAA5<br>LEI: 213800RLFYTJFPXOL592 | Long             | ABS-CBDO         | CORP              | KY        |      5200000 | PA      | $5213641.68   | 0.03%             | 2038-01-25      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.147500 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      1682155 | OU      | $-7971.32     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos CLO XXXII                                                                 | CUSIP: 03768RAQ9<br>LEI: 549300CXPXW83QGWOL98 | Long             | ABS-CBDO         | CORP              | KY        |      1639164 | PA      | $1638739.74   | 0.01%             | 2033-01-20      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                                         | Navoi Mining & Metallurgical Combinat                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |      6574000 | PA      | $6754785.00   | 0.04%             | 2028-10-17      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HD2G4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2607994 | PA      | $2636158.64   | 0.02%             | 2054-06-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                 | Symphony CLO XXXIII Ltd                                                          | CUSIP: 87169JAL6<br>LEI: 254900K6DKU2R9SF7M98 | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $1001745.20   | 0.01%             | 2038-01-24      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                             | SoFi Professional Loan Program 2020-C Trust                                      | CUSIP: 83390UAF4<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |      1530850 | PA      | $1440023.17   | 0.01%             | 2046-02-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2020-II Ltd                                                         | CUSIP: 12547LAW8<br>LEI: 549300O8WGQU5B6HEB94 | Long             | ABS-CBDO         | CORP              | KY        |      6000000 | PA      | $5996454.60   | 0.04%             | 2039-04-16      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| HOWARD MIDSTREAM ENERGY                                          | Howard Midstream Energy Partners LLC                                             | CUSIP: 442722AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       927000 | PA      | $943031.54    | 0.01%             | 2034-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| METRO Finance Trust                                              | Metro Finance Trust                                                              | CUSIP: 000000000<br>LEI: 984500D1F362E8C1FF34 | Long             | ABS-O            | CORP              | AU        |       570000 | PA      | $409386.71    | 0.00%             | 2033-02-16      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                            | Silver Point CLO 13 Ltd                                                          | CUSIP: 82809RAA9<br>LEI: 254900U97WKD6RJ07L38 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5012012.50   | 0.03%             | 2038-10-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Romania Government International Bonds                           | Romania Government International Bonds                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |       896000 | PA      | $917029.12    | 0.01%             | 2028-02-17      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                                            | McGraw-Hill Education Inc                                                        | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |      4159000 | PA      | $4297203.57   | 0.03%             | 2031-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO                                         | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAM6<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |      1759000 | PA      | $1739318.72   | 0.01%             | 2029-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RLJ LODGING TRUST LP                                             | RLJ Lodging Trust LP                                                             | CUSIP: 74965LAA9<br>LEI: 549300RX5I8Z6I6LDZ74 | Long             | DBT              |  | US        |      2009000 | PA      | $2004237.06   | 0.01%             | 2026-07-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 5 Ltd                                                         | CUSIP: 67113GAW7<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      1750000 | PA      | $1757414.58   | 0.01%             | 2037-10-18      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2023-2                                          | CUSIP: 68269HAE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4250000 | PA      | $4274459.60   | 0.03%             | 2036-09-15      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP Clo 2019-17 Ltd                                                              | CUSIP: 67113LAW6<br>LEI: 2549003HLFPQ7ATPYA23 | Long             | ABS-CBDO         | CORP              | KY        |      3250000 | PA      | $3256750.58   | 0.02%             | 2037-07-20      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED PHP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | PH        |            1 | NC      | $-10441.77    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                   | Gray Media Inc                                                                   | CUSIP: 389375AN6<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |      9984000 | PA      | $10150882.56  | 0.06%             | 2032-07-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| EDGEWELL PERSONAL CARE                                           | Edgewell Personal Care Co                                                        | CUSIP: 28035QAB8<br>LEI: 549300CY8QZDL4Z3RU59 | Long             | DBT              | CORP              | US        |      2238000 | PA      | $2138890.17   | 0.01%             | 2029-04-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                               | Regional Management Issuance Trust 2024-2                                        | CUSIP: 75907AAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3736000 | PA      | $3755326.70   | 0.02%             | 2033-12-15      | Fixed         | 5.74%                 | No            |                  2 | On Loan: No      |
| Societe Generale SA                                              | PURCHASED USD / SOLD CHF                                                         | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | N/A              | DFE              |  | US        |            1 | NC      | $55601.26     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                                          | JetBlue Airways Corp / JetBlue Loyalty LP                                        | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      7322000 | PA      | $6819479.79   | 0.04%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: —       |
| Symphony CLO Ltd                                                 | Symphony CLO 30 Ltd                                                              | CUSIP: 87169BAQ2<br>LEI: 254900K6DKU2R9SF7M98 | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $1004866.40   | 0.01%             | 2037-10-20      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                     | Fibercop SpA                                                                     | CUSIP: 683879AF7<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |      3851000 | PA      | $3841372.50   | 0.02%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: No      |
| Tikehau                                                          | Tikehau CLO VI DAC                                                               | CUSIP: 000000000<br>LEI: 54930074V8PMLHROE464 | Long             | ABS-CBDO         | CORP              | IE        |      1000000 | PA      | $1174825.10   | 0.01%             | 2035-01-15      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                      | FIGRE Trust 2024-HE4                                                             | CUSIP: 31684UAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5350953 | PA      | $5354577.82   | 0.03%             | 2054-09-25      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                                         | Olympus Water US Holding Corp                                                    | CUSIP: 000000000<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |      5819000 | PA      | $6732911.63   | 0.04%             | 2033-02-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| BANCO BILBAO VIZCAYA ARG                                         | Banco Bilbao Vizcaya Argentaria SA                                               | CUSIP: 000000000<br>LEI: K8MS7FD7N5Z2WQ51AZ71 | Long             | DBT              | CORP              | ES        |      1000000 | PA      | $1252871.04   | 0.01%             | 2030-12-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-NQM3 Trust                                                             | CUSIP: 69382NAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10473581 | PA      | $10518705.96  | 0.06%             | 2070-05-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                        | IQVIA Inc                                                                        | CUSIP: 449934AD0<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |      3672000 | PA      | $3671953.73   | 0.02%             | 2026-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AM GREEN BV                                                      | AM Green BV Term Loan                                                            | CUSIP: 000000000<br>LEI: 894500JBT225RMNEDO33 | Long             | LON              | CORP              | NL        |      4700000 | PA      | $5217000.00   | 0.03%             | 2027-04-11      | Fixed         | 8.00%                 | No            |                  3 | On Loan: No      |
| CENCOSUD SA                                                      | Cencosud SA                                                                      | CUSIP: 15132HAK7<br>LEI: 549300NLTGCFV7482429 | Long             | DBT              | CORP              | CL        |       330000 | PA      | $329782.20    | 0.00%             | 2036-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Pepper Residential Securities Trust                              | Pepper Prime 2025-1 Trust                                                        | CUSIP: 000000000<br>LEI: 984500E40EDT6B13R494 | Long             | ABS-MBS          | CORP              | AU        |      8400000 | PA      | $6026294.02   | 0.04%             | 2067-04-12      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $6309.19      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SAUDI ARABIAN OIL CO                                             | Saudi Arabian Oil Co                                                             | CUSIP: 000000000<br>LEI: 5586006WD91QHB7J4X50 | Long             | DBT              | CORP              | SA        |      1866000 | PA      | $1839176.25   | 0.01%             | 2029-02-02      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HHH53<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4382840 | PA      | $4413800.98   | 0.03%             | 2054-09-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2021-3                                                | CUSIP: 92539LAE0<br>LEI: 213800278TKDEXPH6140 | Long             | ABS-MBS          | CORP              | US        |       712000 | PA      | $558564.43    | 0.00%             | 2066-06-25      | Variable      | 3.20%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                        | Towd Point Mortgage Trust 2022-3                                                 | CUSIP: 89180NAA2<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |      1856230 | PA      | $1753079.25   | 0.01%             | 2062-08-01      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Sunrise Srl                                                      | Sunrise Spv 98 Srl                                                               | CUSIP: 000000000<br>LEI: 81560036AE47FD868675 | Long             | ABS-O            | CORP              | IT        |      1069000 | PA      | $1256728.01   | 0.01%             | 2051-04-27      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-9                                                | CUSIP: 92490EAM5<br>LEI: 2138002AFCEWDDRL8N22 | Long             | ABS-MBS          | CORP              | US        |       700000 | PA      | $695513.56    | 0.00%             | 2070-10-27      | Variable      | 7.37%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                               | Howard Hughes Corp/The                                                           | CUSIP: 44267DAH0<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |        18000 | PA      | $17637.66     | 0.00%             | 2034-03-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| Merit                                                            | MHP Commercial Mortgage Trust 2025-MHIL2                                         | CUSIP: 59317DAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5000000 | PA      | $5006207.50   | 0.03%             | 2040-09-15      | Floating      | 7.15%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                               | USD C ZAR P @16.74000 EO                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |    -35607000 | OU      | $-118500.10   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SCHAEFFLER AG                                                    | Schaeffler AG                                                                    | CUSIP: 000000000<br>LEI: 549300Q7E782X7GC1P43 | Long             | DBT              | CORP              | DE        |      2200000 | PA      | $2669846.66   | 0.02%             | 2031-04-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                   | CUSIP: 61747YFA8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      3275000 | PA      | $3308578.58   | 0.02%             | 2029-02-01      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| Noria                                                            | Noria DE 2024                                                                    | CUSIP: 000000000<br>LEI: 9695003DRUTU793B4N34 | Long             | ABS-O            | CORP              | FR        |        70014 | PA      | $82490.03     | 0.00%             | 2043-02-25      | Floating      | 3.62%                 | No            |                  2 | On Loan: No      |
| Peace Park CLO, Ltd.                                             | Peace Park CLO Ltd                                                               | CUSIP: 70470MAQ8<br>LEI: 549300XHXTUZ93V6SK42 | Long             | ABS-CBDO         | CORP              | KY        |      2837000 | PA      | $2843238.56   | 0.02%             | 2038-10-20      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Invesco CLO 2022-1, Ltd.                                         | Invesco CLO 2022-1 Ltd                                                           | CUSIP: 460988AC2<br>LEI: 54930008L2A8UYGN7A86 | Long             | ABS-CBDO         | CORP              | JE        |       819000 | PA      | $821724.73    | 0.00%             | 2035-04-20      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| Dutch Property Finance                                           | Dutch Property Finance 2023-1 BV                                                 | CUSIP: 000000000<br>LEI: 72450018DWAQNJ1JEW75 | Long             | ABS-MBS          | CORP              | NL        |       781499 | PA      | $920411.53    | 0.01%             | 2064-04-28      | Floating      | 3.06%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U2G7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      9915000 | PA      | $9359838.63   | 0.06%             | 2030-10-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2024-INV4 Mortgage Loan Trust                                               | CUSIP: 19688QAA9<br>LEI: 2138008UGM66WOAUY633 | Long             | ABS-MBS          | CORP              | US        |      6589331 | PA      | $6625271.38   | 0.04%             | 2069-05-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                      | 2Y RTP 3.400000 14-OCT-2026                                                      | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |   -422244000 | OU      | $-1142147.06  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| firstkey homes 2020-sfr1 trust                                   | FirstKey Homes 2022-SFR1 Trust                                                   | CUSIP: 33768NAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       500000 | PA      | $493147.60    | 0.00%             | 2039-05-19      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TURK TELEKOMUNIKASYON AS                                         | Turk Telekomunikasyon AS                                                         | CUSIP: 90011QAE0<br>LEI: 789000A2TXOI10JZLF90 | Long             | DBT              | CORP              | TR        |       870000 | PA      | $869190.90    | 0.01%             | 2032-10-07      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                        | Block Inc                                                                        | CUSIP: 852234AU7<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |       277000 | PA      | $276465.39    | 0.00%             | 2033-08-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Radian Mortgage Capital Trust                                    | Radian Mortgage Capital Trust LLC 2024-J1                                        | CUSIP: 75023DAM8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       646977 | PA      | $647156.94    | 0.00%             | 2054-11-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| CACI INTERNATIONAL INC                                           | CACI International Inc                                                           | CUSIP: 127190AE6<br>LEI: SYRPI2D1O9WRTS2WX210 | Long             | DBT              | CORP              | US        |      1710000 | PA      | $1749421.06   | 0.01%             | 2033-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ARMENIA                                              | Republic of Armenia International Bond                                           | CUSIP: 042207AE0<br>LEI: 5299000H77JSW90G7935 | Long             | DBT              | NUSS              | AM        |       547000 | PA      | $572572.25    | 0.00%             | 2035-03-12      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                   | CUSIP: 629377CS9<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |       267000 | PA      | $247030.40    | 0.00%             | 2032-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING                                         | Nidda Healthcare Holding GmbH                                                    | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | DBT              | CORP              | DE        |      5917000 | PA      | $7156816.51   | 0.04%             | 2030-02-21      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED JPY / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | JP        |            1 | NC      | $228352.80    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| TENN VALLEY AUTHORITY                                            | Tennessee Valley Authority                                                       | CUSIP: 880591FC1<br>LEI: 549300HE1ISW43LNKM54 | Long             | DBT              | USGA              | US        |      6290000 | PA      | $6121473.35   | 0.04%             | 2055-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 60 CLO Ltd                                                                | CUSIP: 26251NAB6<br>LEI: 549300KI3ILQQHC87U86 | Long             | ABS-CBDO         | CORP              | KY        |       351558 | PA      | $351558.95    | 0.00%             | 2031-07-15      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| Asimi Funding Holdings Limited                                   | Asimi Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800AXPL92U14G2M23 | Long             | ABS-O            | CORP              | GB        |      2636596 | PA      | $3591313.80   | 0.02%             | 2032-12-16      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.015000 17-DEC-2030 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      3231389 | OU      | $-19143.75    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PETSMART LLC/PETSMART FI                                         | PetSmart LLC / PetSmart Finance Corp                                             | CUSIP: 71677KAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       250000 | PA      | $253149.65    | 0.00%             | 2032-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NATIONWIDE BLDG SOCIETY                                          | Nationwide Building Society                                                      | CUSIP: 000000000<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |       850000 | PA      | $1193073.65   | 0.01%             | 2031-12-20      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CUMULUS STATIC CLO                                               | Cumulus Static CLO 2024-1 DAC                                                    | CUSIP: 000000000<br>LEI: 2549005ZFHRHIZ9ONM43 | Long             | ABS-CBDO         | CORP              | IE        |       333000 | PA      | $391106.00    | 0.00%             | 2033-11-15      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2021-A                                          | CUSIP: 78448YAH4<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       957788 | PA      | $875939.40    | 0.01%             | 2053-01-15      | Fixed         | 1.07%                 | No            |                  2 | On Loan: No      |
| Atrium Hotel Portfolio Trust                                     | Atrium Hotel Portfolio Trust 2024-ATRM                                           | CUSIP: 04963XAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4855000 | PA      | $5008269.92   | 0.03%             | 2029-11-10      | Variable      | 9.52%                 | No            |                  2 | On Loan: No      |
| MF1 Multifamily Housing Mortgage Loan Trust                      | MF1 2024-FL14 LLC                                                                | CUSIP: 55416AAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      8111896 | PA      | $8119024.49   | 0.05%             | 2039-03-19      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Issuer Trust 2024-2                                    | CUSIP: 39571XAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4797989 | PA      | $4807038.10   | 0.03%             | 2059-10-27      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-7                                                | CUSIP: 924931AC2<br>LEI: 213800OVCAXDOBS94P47 | Long             | ABS-MBS          | CORP              | US        |      5385219 | PA      | $5392398.27   | 0.03%             | 2070-08-25      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| MILLROSE PROPERTIES INC                                          | Millrose Properties Inc                                                          | CUSIP: 601137AB8<br>LEI: N/A                  | Long             | DBT              |  | US        |       882000 | PA      | $885864.36    | 0.01%             | 2032-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2020-NQM2 Trust                                                             | CUSIP: 36166RAA2<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |      1636613 | PA      | $1576495.75   | 0.01%             | 2065-04-25      | Variable      | 2.56%                 | No            |                  2 | On Loan: No      |
| STORA ENSO OYJ                                                   | Stora Enso Oyj                                                                   | CUSIP: 000000000<br>LEI: 7437000ZP669LKUTZ738 | Long             | DBT              | CORP              | FI        |      1775000 | PA      | $2102208.57   | 0.01%             | 2029-03-17      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LoanCore 2018-CRE1 Issuer, Ltd.                                  | LoanCore 2025 2025-CRE8 Issuer LLC                                               | CUSIP: 53947FAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      9050000 | PA      | $9051300.49   | 0.05%             | 2042-08-17      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDH0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      8238000 | PA      | $8174583.05   | 0.05%             | 2028-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                                        | Towd Point Mortgage Trust 2024-CES4                                              | CUSIP: 89182QAB1<br>LEI: 25490010CSYSAQU59J50 | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $2991247.20   | 0.02%             | 2064-09-25      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                            | CWABS Asset-Backed Certificates Trust 2006-25                                    | CUSIP: 12668HAF7<br>LEI: 549300H6I2066O1LC673 | Long             | ABS-O            | CORP              | US        |      2174697 | PA      | $2112806.99   | 0.01%             | 2037-06-25      | Floating      | 4.14%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 3.900000 17-DEC-2027 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     20778651 | OU      | $43937.70     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                     | Voya CLO 2019-2 Ltd                                                              | CUSIP: 92917RAL3<br>LEI: 254900MS3D9HONB0N824 | Long             | ABS-CBDO         | CORP              | KY        |      2045502 | PA      | $2045602.40   | 0.01%             | 2032-07-20      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| CIRSA FINANCE INTER                                              | Cirsa Finance International Sarl                                                 | CUSIP: 000000000<br>LEI: 254900KUJN6DHWH2K029 | Long             | DBT              | CORP              | LU        |      2226000 | PA      | $2601565.32   | 0.02%             | 2031-10-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                      | BBCMS Mortgage Trust 2025-C35                                                    | CUSIP: 07337DAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2100000 | PA      | $2159148.60   | 0.01%             | 2058-07-15      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2021-1                                                  | CUSIP: 46592EAF3<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       667430 | PA      | $615408.76    | 0.00%             | 2051-06-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| SUMMER BC HOLDCO B SARL                                          | Summer BC Holdco B SARL                                                          | CUSIP: 000000000<br>LEI: 984500NRF59D5DB9B654 | Long             | DBT              | CORP              | LU        |      9306000 | PA      | $9620819.63   | 0.06%             | 2030-02-15      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                             | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |      1708000 | PA      | $1744187.40   | 0.01%             | 2031-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Chicago Board of Trade                                           | US LONG BOND(CBT) JUN26                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -1135 | NC      | $5136421.83   | 0.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                           | ISHARES IBOXX USD INVESTMENT G                                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -11838 | NC      | $-203473.91   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 3.228000 11-DEC-2027 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    307090000 | OU      | $-1573786.87  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Taurus CMBS                                                      | Taurus 2025-2 UK DAC                                                             | CUSIP: 000000000<br>LEI: 635400ZUSGYHROR9ZX12 | Long             | ABS-MBS          | CORP              | IE        |       427831 | PA      | $580290.06    | 0.00%             | 2035-02-18      | Floating      | 6.25%                 | No            |                  2 | On Loan: No      |
| OHA Loan Funding Ltd                                             | OHA Loan Funding 2015-1 Ltd                                                      | CUSIP: 67109BDN1<br>LEI: 25490072LQI0R2J4XC93 | Long             | ABS-CBDO         | CORP              | KY        |      3715000 | PA      | $3723164.83   | 0.02%             | 2038-10-19      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                   | Morgan Stanley Capital I Trust 2019-H6                                           | CUSIP: 61769JBD2<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |       895000 | PA      | $852974.56    | 0.01%             | 2052-06-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                                          | Darling Ingredients Inc                                                          | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |      1729000 | PA      | $1727584.12   | 0.01%             | 2027-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TVF VARLIK KIRALAMA AS                                           | TVF Varlik Kiralama AS                                                           | CUSIP: 000000000<br>LEI: 7890008K3XQXPH1NO713 | Long             | DBT              | CORP              | TR        |      6809000 | PA      | $6876545.28   | 0.04%             | 2030-01-23      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                                     | Barclays Mortgage Loan Trust 2025-NQM3                                           | CUSIP: 06745VAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     17859264 | PA      | $17956688.23  | 0.11%             | 2065-05-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| GRUPO AEROMEXICO SAB                                             | Grupo Aeromexico SAB de CV                                                       | CUSIP: 000000000<br>LEI: 529900BECKHBL62WD126 | Long             | DBT              | CORP              | MX        |      3941000 | PA      | $3821784.75   | 0.02%             | 2029-11-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED                                            | Vale Overseas Ltd                                                                | CUSIP: 91911TAT0<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |       790000 | PA      | $794661.00    | 0.00%             | 2056-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                 | TRESTLES CLO III LTD                                                             | CUSIP: 89532TAQ9<br>LEI: 254900TP9ZGKPKCMHR24 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2505188.00   | 0.01%             | 2037-10-20      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                                         | Eagle Funding Luxco Sarl                                                         | CUSIP: 000000000<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |      1521000 | PA      | $1531190.70   | 0.01%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 5 Ltd                                                                         | CUSIP: 74979VAT0<br>LEI: 549300213Q1LH7O32902 | Long             | ABS-CBDO         | CORP              | KY        |      1250000 | PA      | $1253422.50   | 0.01%             | 2039-07-15      | Floating      | 7.27%                 | No            |                  2 | On Loan: No      |
| STANDARD BUILDING SOLUTI                                         | Standard Building Solutions Inc                                                  | CUSIP: 853191AC8<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |      4312000 | PA      | $4309236.44   | 0.03%             | 2033-08-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CAS CAPITAL NO2 LTD                                              | Cas Capital No 2 Ltd                                                             | CUSIP: 000000000<br>LEI: 2549007CLL9JS1Z83O04 | Long             | DBT              | CORP              | VG        |       667000 | PA      | $669501.25    | 0.00%             | 2031-01-13      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                 | Trestles CLO VIII Ltd                                                            | CUSIP: 89533DAC4<br>LEI: 2549002BMO2L1UMJWE02 | Long             | ABS-CBDO         | CORP              | KY        |      6000000 | PA      | $6014719.80   | 0.04%             | 2035-06-11      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD PEN                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $93428.78     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BLOCK INC                                                        | Block Inc                                                                        | CUSIP: 852234AS2<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |      4196000 | PA      | $4275949.07   | 0.03%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                       | BFLD Commercial Mortgage Trust 2024-UNIV                                         | CUSIP: 08861RAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5340000 | PA      | $5343337.50   | 0.03%             | 2041-11-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Lyra MUSIC Assets (Delaware) LP                                  | Lyra Music Assets Delaware LP                                                    | CUSIP: 552339AA1<br>LEI: 9845007N9EAB0C048A12 | Long             | ABS-O            | CORP              | US        |      2115100 | PA      | $2127854.07   | 0.01%             | 2064-12-22      | Fixed         | 5.76%                 | No            |                  2 | On Loan: No      |
| AGL CLO 13 Ltd                                                   | AGL CLO 13 Ltd                                                                   | CUSIP: 00120JAL7<br>LEI: 254900DIJ0G5TXNJMM06 | Long             | ABS-CBDO         | CORP              | KY        |      1100000 | PA      | $1100347.60   | 0.01%             | 2034-10-20      | Floating      | 4.78%                 | No            |                  2 | On Loan: No      |
| ESAB CORP                                                        | Esab Corp                                                                        | CUSIP: 29605JAB2<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | DBT              | CORP              | US        |      1608000 | PA      | $1622807.80   | 0.01%             | 2031-04-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED CLP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | CL        |            1 | NC      | $-4542.32     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BAYER AG                                                         | Bayer AG                                                                         | CUSIP: 000000000<br>LEI: 549300J4U55H3WP1XT59 | Long             | DBT              | CORP              | DE        |      8700000 | PA      | $10705559.10  | 0.06%             | 2083-09-25      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                                           | Cogent Communications Group LLC / Cogent Finance Inc                             | CUSIP: 19240WAA7<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |      1221000 | PA      | $1213537.25   | 0.01%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CNY 1.638000 18-MAR-2031 CNR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      8224213 | OU      | $5342.36      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                             | Garda World Security Corp                                                        | CUSIP: 36485MAN9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |      5544000 | PA      | $5672315.88   | 0.03%             | 2032-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2020-PT-A                                       | CUSIP: 78449VAD8<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       380000 | PA      | $339791.82    | 0.00%             | 2054-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                                           | SLM Private Credit Student Loan Trust 2004-B                                     | CUSIP: 78443CBP8<br>LEI: 549300HIOV1ESFZYQ040 | Long             | ABS-O            | CORP              | US        |       160244 | PA      | $158985.29    | 0.00%             | 2033-09-15      | Floating      | 4.37%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                               | Vodafone Group PLC                                                               | CUSIP: 000000000<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |      2388000 | PA      | $3440669.98   | 0.02%             | 2086-08-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AIB GROUP PLC                                                    | AIB Group PLC                                                                    | CUSIP: 000000000<br>LEI: 635400AKJBGNS5WNQL34 | Long             | DBT              | CORP              | IE        |      3553000 | PA      | $4436555.64   | 0.03%             | 2029-10-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                   | Morgan Stanley Capital I 2017-HR2                                                | CUSIP: 61691NAH8<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |       230000 | PA      | $225363.25    | 0.00%             | 2050-12-15      | Variable      | 3.89%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC LLC/INC                                         | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc        | CUSIP: 43283QAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       676000 | PA      | $683847.01    | 0.00%             | 2032-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Jubilee Place                                                    | Jubilee Place 7 BV                                                               | CUSIP: 000000000<br>LEI: 724500E73QDBSXZ44959 | Long             | ABS-MBS          | CORP              | NL        |       100000 | PA      | $117075.90    | 0.00%             | 2062-09-18      | Floating      | 3.56%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-P2                                   | CUSIP: 92262XAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       105407 | PA      | $96034.24     | 0.00%             | 2055-10-25      | Variable      | 10.21%                | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans Srl                                                | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |       532000 | PA      | $624130.64    | 0.00%             | 2040-06-25      | Floating      | 3.12%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                                                | Trimaran Cavu 2023-2 Ltd                                                         | CUSIP: 89623WBA6<br>LEI: 254900N0C728FOYWNB70 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2005140.00   | 0.01%             | 2039-01-20      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| ENTAIN PLC                                                       | Entain PLC                                                                       | CUSIP: 000000000<br>LEI: 213800GNI3K45LQR8L28 | Long             | DBT              | CORP              | IM        |      3147000 | PA      | $3693206.82   | 0.02%             | 2031-11-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Hermitage Plc                                                    | Hermitage 2024 PLC                                                               | CUSIP: 000000000<br>LEI: 635400OUUMGTAI2EJA52 | Long             | ABS-O            | CORP              | GB        |       353278 | PA      | $481341.03    | 0.00%             | 2033-04-21      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $-14433136.26 | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.                                             | Birch Grove CLO 6 Ltd                                                            | CUSIP: 09077FAL9<br>LEI: 254900HENKWLW4T9SW86 | Long             | ABS-CBDO         | CORP              | JE        |      6540000 | PA      | $6551431.27   | 0.04%             | 2037-07-20      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| METRO Finance Trust                                              | Metro Finance 2025-1 Trust                                                       | CUSIP: 000000000<br>LEI: 984500D1F362E8C1FF34 | Long             | ABS-O            | CORP              | AU        |      3890988 | PA      | $2807340.03   | 0.02%             | 2031-10-15      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| TALBOT PARTICIPATION SAS                                         | Talbot Participation SAS EUR Refinance Term Loan B                               | CUSIP: 000000000<br>LEI: 213800YELAANTUZKN615 | Long             | LON              | CORP              | FR        |      1000000 | PA      | $1178543.81   | 0.01%             | 2032-07-07      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD COP                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $-138473.42   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MARRIOTT OWNERSHIP RESOR                                         | Marriott Ownership Resorts Inc                                                   | CUSIP: 57164PAH9<br>LEI: BW4532OH033VURR0IT68 | Long             | DBT              | CORP              | US        |       190000 | PA      | $181685.16    | 0.00%             | 2029-06-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Marble Point CLO Ltd.                                            | Marble Point CLO XV Ltd                                                          | CUSIP: 56606YBA2<br>LEI: 549300CO8XB55W8SS394 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3000684.60   | 0.02%             | 2032-07-23      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                      | FIGRE Trust 2024-HE6                                                             | CUSIP: 31684DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5786301 | PA      | $5821737.74   | 0.03%             | 2054-12-25      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| 720 East CLO Ltd.                                                | 720 East CLO 2022-I Ltd                                                          | CUSIP: 81785AAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2755000 | PA      | $2761043.37   | 0.02%             | 2038-01-20      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2025-45 Ltd                                                              | CUSIP: 67126BAA1<br>LEI: 25490028U8Y2XMZWXO46 | Long             | ABS-CBDO         | CORP              | KY        |      1025000 | PA      | $1026546.01   | 0.01%             | 2038-10-15      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| MEDCO MAPLE TREE PTE LTD                                         | Medco Maple Tree Pte Ltd                                                         | CUSIP: 58407HAA7<br>LEI: 254900T5AQZNR0THA508 | Long             | DBT              | CORP              | SG        |       592000 | PA      | $611240.00    | 0.00%             | 2029-04-27      | Fixed         | 8.96%                 | No            |                  2 | On Loan: —       |
| Countrywide Alternative Loan Trust                               | Alternative Loan Trust 2004-J13                                                  | CUSIP: 12667FD51<br>LEI: 5493004SLAYUFMHIS127 | Long             | ABS-MBS          | CORP              | US        |      3343217 | PA      | $3112294.40   | 0.02%             | 2035-02-25      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                                     | Magnera Corp                                                                     | CUSIP: 377320AA4<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |       260000 | PA      | $238146.82    | 0.00%             | 2029-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| UNIV Trust                                                       | UNIV Trust 2025-APTS                                                             | CUSIP: 91336XAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9700000 | PA      | $9663799.60   | 0.06%             | 2042-11-15      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                           | Northern Oil & Gas Inc                                                           | CUSIP: 665530AB7<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |       390000 | PA      | $407249.70    | 0.00%             | 2031-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HLLF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3055492 | PA      | $3103178.57   | 0.02%             | 2055-06-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2025-1 Ltd                                            | CUSIP: 69704CAG2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $998172.10    | 0.01%             | 2033-02-15      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| CLARIV SCI HLD CORP                                              | Clarivate Science Holdings Corp                                                  | CUSIP: 18064PAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4799000 | PA      | $4634926.03   | 0.03%             | 2028-07-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |       405101 | PA      | $360975.37    | 0.00%             | 2033-03-15      | Variable      | 3.35%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Partners XVI                                                          | CUSIP: 67115LAS3<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      1250000 | PA      | $1254923.75   | 0.01%             | 2037-10-18      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Five Srl                 | CUSIP: 000000000<br>LEI: 8156006F7517955B5E95 | Long             | ABS-O            | CORP              | IT        |        76755 | PA      | $90625.29     | 0.00%             | 2039-11-15      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| FLINDERS PORT HOLDINGS                                           | Flinders Port Holdings Pty Ltd                                                   | CUSIP: 000000000<br>LEI: 54930004ONWGFT3AYX31 | Long             | DBT              | CORP              | AU        |      1000000 | PA      | $707847.82    | 0.00%             | 2034-07-10      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| BREAKWATER ENRGY HOLD                                            | Breakwater Energy Holdings Sarl                                                  | CUSIP: 000000000<br>LEI: 984500969HAFA937F390 | Long             | DBT              | CORP              | LU        |      6024000 | PA      | $6415469.64   | 0.04%             | 2030-11-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: —       |
| CHARLES RIVER LABORATORI                                         | Charles River Laboratories International Inc                                     | CUSIP: 159864AE7<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |      2296000 | PA      | $2254637.56   | 0.01%             | 2028-05-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2022-1 Mortgage Loan Trust                                                  | CUSIP: 19688HAA9<br>LEI: 2138001HZNOLT1K3WY73 | Long             | ABS-MBS          | CORP              | US        |       507849 | PA      | $466752.67    | 0.00%             | 2066-12-27      | Variable      | 2.28%                 | No            |                  2 | On Loan: No      |
| SLG Trust                                                        | SLG Commercial Mortgage Trust 2026-PAT                                           | CUSIP: 78451CAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5368000 | PA      | $5331099.29   | 0.03%             | 2039-02-15      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF CAMEROON                                             | Republic of Cameroon International Bond                                          | CUSIP: 000000000<br>LEI: 54930021BO6NHYGBBV24 | Long             | DBT              | NUSS              | CM        |      2418000 | PA      | $2357550.00   | 0.01%             | 2033-01-30      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SC Germany Leasing                                               | SC Germany SA Compartment Leasing 2025-1                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       100000 | PA      | $117209.46    | 0.00%             | 2036-09-14      | Floating      | 3.00%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                    | Citigroup Inc                                                                    | CUSIP: 000000000<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     14345000 | PA      | $16916561.17  | 0.10%             | 2032-05-14      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                           | PURCHASED USD / SOLD INR                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $353427.10    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-B                                                 | CUSIP: 64034QAA6<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |       928168 | PA      | $930641.67    | 0.01%             | 2062-04-20      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| TELEFLEX INC                                                     | Teleflex Inc                                                                     | CUSIP: 879369AG1<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |      1427000 | PA      | $1406276.54   | 0.01%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Spain Government Bonds                                           | Spain Government Bonds                                                           | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |     35629000 | PA      | $41580960.64  | 0.25%             | 2030-01-31      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2025-NQM4                                        | CUSIP: 10570QAE1<br>LEI: 25490082TY9NA9XBGW19 | Long             | ABS-MBS          | CORP              | US        |     10345858 | PA      | $10412653.15  | 0.06%             | 2065-02-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HFWY7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      9618851 | PA      | $9696362.83   | 0.06%             | 2054-10-25      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Taurus CMBS                                                      | Taurus 2025-2 UK DAC                                                             | CUSIP: 000000000<br>LEI: 635400ZUSGYHROR9ZX12 | Long             | ABS-MBS          | CORP              | IE        |       345926 | PA      | $469453.89    | 0.00%             | 2035-02-18      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Jubilee Place                                                    | Jubilee Place 9 BV                                                               | CUSIP: 000000000<br>LEI: 724500NW990F5Q3VQE73 | Long             | ABS-O            | CORP              | NL        |       835000 | PA      | $973652.01    | 0.01%             | 2061-10-17      | Floating      | 3.14%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                          | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAD3<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |      1228000 | PA      | $1227493.57   | 0.01%             | 2028-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2019-D                                 | CUSIP: 63941CAC7<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |      1232413 | PA      | $1233018.18   | 0.01%             | 2059-12-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2021-A                                                 | CUSIP: 64035DAA4<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |       311831 | PA      | $311320.52    | 0.00%             | 2062-04-20      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2024-1 Mortgage Loan Trust                                                  | CUSIP: 19688TAA3<br>LEI: 2138001HZNOLT1K3WY73 | Long             | ABS-MBS          | CORP              | US        |       866517 | PA      | $869144.43    | 0.01%             | 2069-02-25      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2024-NQM3 Trust                                                              | CUSIP: 67118KAA1<br>LEI: 2549001QDCO9VU0HH514 | Long             | ABS-MBS          | CORP              | US        |       877358 | PA      | $882559.71    | 0.01%             | 2063-12-25      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| New Mountain CLO Ltd                                             | New Mountain CLO 3 Ltd                                                           | CUSIP: 647550AQ5<br>LEI: 549300CEYMYPINCEX579 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3007082.10   | 0.02%             | 2038-10-20      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| AERNNOVA AEROSPACE SAU                                           | Aernnova Aerospace SAU 2024 EUR Term Loan B                                      | CUSIP: 000000000<br>LEI: 95980020140005473208 | Long             | LON              | CORP              | ES        |      1000000 | PA      | $1160446.13   | 0.01%             | 2030-02-27      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                         | Hess Midstream Operations LP                                                     | CUSIP: 428104AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       635000 | PA      | $632070.30    | 0.00%             | 2028-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                          | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    825245500 | PA      | $47290778.77  | 0.28%             | 2026-09-03      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UNIV Trust                                                       | UNIV Trust 2025-APTS                                                             | CUSIP: 91336XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11464000 | PA      | $11435477.57  | 0.07%             | 2042-11-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-5                                                | CUSIP: 92540XAA9<br>LEI: 213800Z7TIVJRAYLRV98 | Long             | ABS-MBS          | CORP              | US        |     10552577 | PA      | $10603394.39  | 0.06%             | 2070-06-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| PRA GROUP EUROPE HOLDING                                         | PRA Group Europe Holding II Sarl                                                 | CUSIP: 000000000<br>LEI: 635400CWOMLGBIP4GA24 | Long             | DBT              | CORP              | LU        |      5953000 | PA      | $6856916.04   | 0.04%             | 2032-09-30      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                                              | Buckeye Partners LP                                                              | CUSIP: 118230AR2<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |      2770000 | PA      | $2723172.04   | 0.02%             | 2027-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                    | ZF North America Capital Inc                                                     | CUSIP: 98877DAE5<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |      5440000 | PA      | $5454475.84   | 0.03%             | 2030-04-14      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 3.700000 06-JAN-2035 SOF                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     34657000 | OU      | $-528325.68   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust                                     | WinWater Mortgage Loan Trust 2014-3                                              | CUSIP: 97652RBD8<br>LEI: 549300JBTXISBC85OS04 | Long             | ABS-MBS          | CORP              | US        |       250000 | PA      | $189298.10    | 0.00%             | 2044-11-20      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED USD / SOLD TRY                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |            1 | NC      | $-62601.84    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Golden Bar Securitisation                                        | Golden Bar Securitisation Srl 2025-1                                             | CUSIP: 000000000<br>LEI: 549300GESLGUWWGJRM09 | Long             | ABS-O            | CORP              | IT        |       150164 | PA      | $176450.67    | 0.00%             | 2044-12-20      | Floating      | 3.37%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                                 | CARLYLE US CLO 2019-2 LTD                                                        | CUSIP: 14316EAY5<br>LEI: 549300VC6J79YJCFU884 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3005775.30   | 0.02%             | 2037-10-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| CEDACRI SPA                                                      | Cedacri SpA                                                                      | CUSIP: 000000000<br>LEI: 815600E85FCD78B3EE61 | Long             | DBT              | CORP              | IT        |      7782000 | PA      | $8975081.14   | 0.05%             | 2028-05-15      | Floating      | 6.61%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                            | Directv Financing LLC                                                            | CUSIP: 25461LAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1246000 | PA      | $1266701.04   | 0.01%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: —       |
| CALI Mortgage Trust                                              | Cali 2024-Sun                                                                    | CUSIP: 12988DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4580000 | PA      | $4586929.08   | 0.03%             | 2041-07-15      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| STONEGATE PUB FIN                                                | Stonegate Pub Co Financing 2019 PLC                                              | CUSIP: 000000000<br>LEI: 254900L5266ML3505282 | Long             | DBT              | CORP              | GB        |      1674000 | PA      | $2292594.99   | 0.01%             | 2029-07-31      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                                  | Nissan Motor Co Ltd                                                              | CUSIP: 000000000<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |     11687000 | PA      | $13863439.18  | 0.08%             | 2029-07-17      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                         | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAE5<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      4694000 | PA      | $4801680.36   | 0.03%             | 2032-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2023-2                                          | CUSIP: 68269HAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       595000 | PA      | $612163.85    | 0.00%             | 2036-09-15      | Fixed         | 7.52%                 | No            |                  2 | On Loan: No      |
| ROENESANS HOLDING AS                                             | Ronesans Holding AS                                                              | CUSIP: 000000000<br>LEI: 789000T9Y7SPZC5FXB27 | Long             | DBT              | CORP              | TR        |       958000 | PA      | $948918.16    | 0.01%             | 2029-10-10      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| ICG US CLO Ltd                                                   | ICG US CLO 2025-1 Ltd                                                            | CUSIP: 448982AJ7<br>LEI: 213800BCHLSBMDBGXD58 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2008642.00   | 0.01%             | 2038-07-25      | Floating      | 6.82%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                   | CUSIP: 000000000<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      8400000 | PA      | $9959284.78   | 0.06%             | 2030-03-21      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 10-R Ltd                                                      | CUSIP: 67121RAC7<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $3998080.40   | 0.02%             | 2037-07-18      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                         | Hess Midstream Operations LP                                                     | CUSIP: 428102AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3140000 | PA      | $3141450.68   | 0.02%             | 2030-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                 | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |            1 | NC      | $-2453.46     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DEVELOPMENT BANK OF KAZA                                         | Development Bank of Kazakhstan JSC                                               | CUSIP: 000000000<br>LEI: 213800LCDPGJ1BI7KX98 | Long             | DBT              | NUSS              | KZ        |    115500000 | PA      | $233916.89    | 0.00%             | 2028-05-23      | Fixed         | 13.49%                | No            |                  2 | On Loan: No      |
| Allied Credit Trust                                              | Allied Credit ABS Trust 2026-1                                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | AU        |       584000 | PA      | $418748.08    | 0.00%             | 2034-04-17      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| ARENA LUX FIN SARL                                               | Arena Luxembourg Finance Sarl                                                    | CUSIP: 000000000<br>LEI: 222100KX2LPK5KRSIG74 | Long             | DBT              | CORP              | LU        |      2820000 | PA      | $3319607.39   | 0.02%             | 2030-05-01      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| COMMONWEALTH BANK AUST                                           | Commonwealth Bank of Australia                                                   | CUSIP: 000000000<br>LEI: MSFSBD3QN1GSN7Q6C537 | Long             | DBT              | CORP              | AU        |      3575000 | PA      | $4136187.94   | 0.02%             | 2037-08-26      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                                           | SLM Private Credit Student Loan Trust 2007-A                                     | CUSIP: 78443DAD4<br>LEI: 549300T563MF7L069881 | Long             | ABS-O            | CORP              | US        |       268959 | PA      | $265752.19    | 0.00%             | 2041-12-16      | Floating      | 4.18%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED THB / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | TH        |            1 | NC      | $-203492.83   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                                         | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAC8<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |      5461000 | PA      | $5720807.08   | 0.03%             | 2031-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| Capital Four CLO                                                 | Capital Four CLO VIII DAC                                                        | CUSIP: 000000000<br>LEI: 2549006Z0XBVN3OW8T93 | Long             | ABS-CBDO         | CORP              | IE        |      1360000 | PA      | $1603242.40   | 0.01%             | 2037-10-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD HUF                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $52.40        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                          | Crescent Energy Finance LLC                                                      | CUSIP: 516806AK2<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |      1536000 | PA      | $1592378.88   | 0.01%             | 2032-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| GLOBAL ATLANTIC FIN CO                                           | Global Atlantic Fin Co                                                           | CUSIP: 37959GAG2<br>LEI: 98450051B2E65CAA7E94 | Long             | DBT              | CORP              | US        |      2250000 | PA      | $2256367.50   | 0.01%             | 2054-10-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: —       |
| Egypt Government International Bonds                             | Egypt Government International Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      3689000 | PA      | $3725926.89   | 0.02%             | 2027-01-31      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | Fondo de Titulizacion Santander Consumo 9                                        | CUSIP: 000000000<br>LEI: 959800RE2YA509E01X80 | Long             | ABS-O            | CORP              | ES        |      1080000 | PA      | $1268928.99   | 0.01%             | 2040-10-25      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | USD C BRL P @5.650000 EO                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |    -35595340 | OU      | $-35.60       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                           | Match Group Holdings II LLC                                                      | CUSIP: 57665RAL0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |      1643000 | PA      | $1543058.45   | 0.01%             | 2030-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BIDVEST GROUP UK PLC                                             | Bidvest Group UK PLC/The                                                         | CUSIP: 088932AA6<br>LEI: 984500A80C777F496830 | Long             | DBT              | CORP              | GB        |       468000 | PA      | $470344.68    | 0.00%             | 2032-09-17      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                                 | Carlyle US CLO 2021-7 LTD                                                        | CUSIP: 14316WAL3<br>LEI: 549300VC6J79YJCFU884 | Long             | ABS-CBDO         | CORP              | KY        |      6350000 | PA      | $6353159.76   | 0.04%             | 2038-04-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| PRM8 Trust                                                       | PRM8 Trust 2026-PRM8                                                             | CUSIP: 74290LAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2100000 | PA      | $2079000.00   | 0.01%             | 2041-05-10      | Variable      | 6.53%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2022-NQM3                                    | CUSIP: 64831QAB9<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       854313 | PA      | $794733.35    | 0.00%             | 2062-04-25      | Variable      | 3.98%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                                                | Nexstar Media Inc                                                                | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |      2321000 | PA      | $2286790.50   | 0.01%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Three Sarl               | CUSIP: 000000000<br>LEI: 213800WQKYRCMTF4FR47 | Long             | ABS-O            | CORP              | LU        |        76353 | PA      | $90574.58     | 0.00%             | 2034-03-21      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                      | FIGRE Trust 2024-SL1                                                             | CUSIP: 31684JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4926381 | PA      | $4961358.99   | 0.03%             | 2053-07-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                                           | CHL Mortgage Pass-Through Trust 2007-J1                                          | CUSIP: 12669MAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4844865 | PA      | $1685449.55   | 0.01%             | 2037-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Asimi Funding Holdings Limited                                   | Asimi Funding 2025-1 PLC                                                         | CUSIP: 000000000<br>LEI: 6354002PZBGQEXUI2V51 | Long             | ABS-O            | CORP              | GB        |       138647 | PA      | $189280.46    | 0.00%             | 2032-05-16      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | EUR P HUF C @365.0000 EO                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | LU        |    -12301500 | OU      | $-97742.91    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD IDR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $222337.23    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                         | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |      2400000 | PA      | $2745843.17   | 0.02%             | 2027-12-01      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| PROMIGAS/GASES PACIFICO                                          | Promigas SA ESP / Gases del Pacifico SAC                                         | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      5886000 | PA      | $5509590.30   | 0.03%             | 2029-10-16      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| COMMERZBANK AG                                                   | Commerzbank AG                                                                   | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |      4500000 | PA      | $5203837.74   | 0.03%             | 2030-11-26      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Contego CLO DAC                                                  | Contego CLO XI DAC                                                               | CUSIP: 000000000<br>LEI: 6354008HTD4GEZHRKR02 | Long             | ABS-CBDO         | CORP              | IE        |       850000 | PA      | $992604.95    | 0.01%             | 2038-11-20      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                                                | Trimaran CAVU 2024-1 Ltd                                                         | CUSIP: 895971AA7<br>LEI: 254900IFDJE1IJQ1HT84 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $4007226.00   | 0.02%             | 2038-01-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 01309QAB4<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |       100000 | PA      | $100887.20    | 0.00%             | 2033-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5004000 | PA      | $4905716.99   | 0.03%             | 2036-02-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Park Blue CLO Ltd                                                | PARK BLUE CLO 2023-III LTD                                                       | CUSIP: 70019AAN9<br>LEI: 2138008W8XU9WO8BZO09 | Long             | ABS-CBDO         | CORP              | KY        |      1615000 | PA      | $1619300.91   | 0.01%             | 2037-04-20      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| PCL Funding II                                                   | PCL Funding IX PLC                                                               | CUSIP: 000000000<br>LEI: 213800OC928ETRJNHM43 | Long             | ABS-O            | CORP              | GB        |       100000 | PA      | $136238.53    | 0.00%             | 2029-07-16      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| BDS Ltd                                                          | BDS 2024-FL13 LLC                                                                | CUSIP: 05555MAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      7315000 | PA      | $7337233.94   | 0.04%             | 2039-09-19      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINANCING I                                           | Vmed O2 UK Financing I PLC                                                       | CUSIP: 92858RAE0<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |      5691000 | PA      | $5202073.10   | 0.03%             | 2033-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |      3439000 | PA      | $4083021.88   | 0.02%             | 2032-04-22      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                             | Pilgrim's Pride Corp                                                             | CUSIP: 72147KAL2<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |       373000 | PA      | $405163.10    | 0.00%             | 2034-05-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Goldman Home Improvement Trust Issuer Trust                      | Goldman Home Improvement Trust 2022-GRN2 Issuer Trust                            | CUSIP: 38151JAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4824880 | PA      | $4925942.13   | 0.03%             | 2052-10-25      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-P2                                   | CUSIP: 92262XAD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       486723 | PA      | $480603.60    | 0.00%             | 2055-10-25      | Variable      | 6.85%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2024-2                                    | CUSIP: 92259QAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1323844 | PA      | $1341367.10   | 0.01%             | 2054-06-25      | Variable      | 7.23%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                         | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |     12000000 | PA      | $13326783.04  | 0.08%             | 2030-06-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BWXP6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      3137884 | PA      | $3184130.46   | 0.02%             | 2055-08-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                                   | Wynn Macau Ltd                                                                   | CUSIP: 98313RAH9<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |      4624000 | PA      | $4596896.42   | 0.03%             | 2028-08-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F052656<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     39463000 | PA      | $39659302.77  | 0.24%             | 2056-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                                         | California Resources Corp                                                        | CUSIP: 13057QAK3<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |        92000 | PA      | $95932.09     | 0.00%             | 2029-06-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Household Capital                                                | Household Capital 2025-1 RMBS                                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |       516377 | PA      | $369546.58    | 0.00%             | 2087-07-21      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| Henley CLO                                                       | Henley CLO IV DAC                                                                | CUSIP: 000000000<br>LEI: 6354009HFM8XXW6PPK55 | Long             | ABS-CBDO         | CORP              | IE        |      1000000 | PA      | $1179226.87   | 0.01%             | 2038-07-25      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                              | COMM 2024-WCL1 MORTGAGE TRUST                                                    | CUSIP: 20047DAA2<br>LEI: 5493004GWEVMOU8S3L34 | Long             | ABS-MBS          | CORP              | US        |      7215000 | PA      | $7205981.25   | 0.04%             | 2041-06-15      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| Lyra MUSIC Assets (Delaware) LP                                  | Lyra Music Assets Delaware LP                                                    | CUSIP: 552339AD5<br>LEI: 9845007N9EAB0C048A12 | Long             | ABS-O            | CORP              | US        |      1311447 | PA      | $1318204.86   | 0.01%             | 2065-09-20      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | SWP: OIS 13.330000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |      8079225 | OU      | $-37266.09    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                            | GFL Environmental Inc                                                            | CUSIP: 36168QAN4<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |      2946000 | PA      | $2911161.78   | 0.02%             | 2029-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDK3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      1945000 | PA      | $1949899.46   | 0.01%             | 2028-10-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital Clo 18 Ltd                                                     | CUSIP: 03331AAA9<br>LEI: 549300JIJ617WYIUFX18 | Long             | ABS-CBDO         | CORP              | KY        |       350000 | PA      | $350206.26    | 0.00%             | 2034-04-15      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                                           | Taco Bell Funding LLC                                                            | CUSIP: 87342RAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5528000 | PA      | $5465231.77   | 0.03%             | 2055-08-25      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                              | Petroleos Mexicanos                                                              | CUSIP: 71654QCP5<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |      6965000 | PA      | $7100817.50   | 0.04%             | 2029-01-23      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2022-NQM1 Trust                                                             | CUSIP: 36168VAC7<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |      4335860 | PA      | $4152644.01   | 0.02%             | 2067-02-25      | Variable      | 3.92%                 | No            |                  2 | On Loan: No      |
| London Cards Plc                                                 | London Cards No3 PLC                                                             | CUSIP: 000000000<br>LEI: 635400THJ5YVVA4HYO05 | Long             | ABS-O            | CORP              | GB        |      1544000 | PA      | $2105186.96   | 0.01%             | 2035-12-15      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2026-NQM1                                    | CUSIP: 36276EAA8<br>LEI: 254900WEVNJASLS4UV47 | Long             | ABS-MBS          | CORP              | US        |      3534610 | PA      | $3514167.05   | 0.02%             | 2066-03-25      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                                              | Travel + Leisure Co                                                              | CUSIP: 98310WAS7<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |      4203000 | PA      | $4203907.85   | 0.02%             | 2026-07-31      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust                                                 | CUSIP: 78449XAC6<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      1016000 | PA      | $927598.86    | 0.01%             | 2053-07-15      | Fixed         | 2.76%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                          | Starwood Property Trust Inc                                                      | CUSIP: 85571BAU9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |      3939000 | PA      | $3922071.36   | 0.02%             | 2026-07-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | CSMC 2020-AFC1 Trust                                                             | CUSIP: 12597MAA3<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      3331639 | PA      | $3195110.16   | 0.02%             | 2050-02-25      | Variable      | 3.24%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                                                 | StoneX Group Inc                                                                 | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |      1222000 | PA      | $1286684.13   | 0.01%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ENGIE ENERGIA CHILE SA                                           | Engie Energia Chile SA                                                           | CUSIP: 000000000<br>LEI: 5493000FIKCC3ZDWTO77 | Long             | DBT              | CORP              | CL        |      1295000 | PA      | $1220861.25   | 0.01%             | 2030-01-28      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-NQM4 Trust                                                             | CUSIP: 69392VAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1705000 | PA      | $1697533.46   | 0.01%             | 2070-07-25      | Variable      | 6.72%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos CLO XXIV                                                                  | CUSIP: 03759CAV2<br>LEI: 549300PPHIOJQEKPJH29 | Long             | ABS-CBDO         | CORP              | KY        |      2241578 | PA      | $2242594.53   | 0.01%             | 2030-10-20      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 3.430000 03-OCT-2026 SOF                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    160000000 | OU      | $595077.85    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| European Loan Conduit                                            | Lagarino European Loan Conduit No 40 DAC                                         | CUSIP: 000000000<br>LEI: 635400BIYQM1LPPW1N05 | Long             | ABS-MBS          | CORP              | IE        |       526058 | PA      | $615082.21    | 0.00%             | 2037-06-22      | Floating      | 4.26%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                            | Mineral Resources Ltd                                                            | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |      1826000 | PA      | $1895188.11   | 0.01%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                                            | Bath & Body Works Inc                                                            | CUSIP: 501797AR5<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |       419000 | PA      | $425219.22    | 0.00%             | 2029-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 38 Ltd                                                                        | CUSIP: 74988FAE7<br>LEI: 549300V317BEVFPNAZ66 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $752781.08    | 0.00%             | 2040-04-15      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| Signal Harmonic CLO                                              | Signal Harmonic CLO I DAC                                                        | CUSIP: 000000000<br>LEI: 635400CPGNMPPUYRUY64 | Long             | ABS-CBDO         | CORP              | IE        |      1320000 | PA      | $1545221.68   | 0.01%             | 2038-07-15      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2022-B                                          | CUSIP: 83206NAB3<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      1082121 | PA      | $1091607.26   | 0.01%             | 2055-02-16      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| OZLM Ltd                                                         | OZLM XIX Ltd                                                                     | CUSIP: 67112CBQ9<br>LEI: 5493009C40QUU66J8E83 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2515214.25   | 0.01%             | 2035-01-15      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| TOPBUILD CORP                                                    | TopBuild Corp                                                                    | CUSIP: 89055FAD5<br>LEI: 5493007YSKHOL4RWII46 | Long             | DBT              | CORP              | US        |       989000 | PA      | $1001838.21   | 0.01%             | 2034-01-31      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                      | PRKCM 2024-HOME1 Trust                                                           | CUSIP: 69391XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       978182 | PA      | $987386.05    | 0.01%             | 2059-05-25      | Variable      | 6.43%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XXXV Ltd                                                            | CUSIP: 89643NAJ4<br>LEI: 2549006LSGK3FM05EN89 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001751.30   | 0.01%             | 2039-01-22      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| Vasco Finance                                                    | TAGUS-Sociedade de Titularizacao de Creditos SA/Vasco Finance No. 2              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |        63339 | PA      | $75080.91     | 0.00%             | 2042-10-27      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 4.198500 23-OCT-2027 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |       930000 | OU      | $7885.75      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| OZLM Funding Ltd                                                 | OZLM Funding II Ltd                                                              | CUSIP: 67108BCG8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3000898.50   | 0.02%             | 2037-07-30      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| OCS GROUP HOLDINGS LTD                                           | OCS Group Holdings Ltd 2025 EUR Term Loan B4                                     | CUSIP: 000000000<br>LEI: 54930002RKY3Y4LURL90 | Long             | LON              | CORP              | GB        |      2075471 | PA      | $2438920.74   | 0.01%             | 2031-11-28      | Floating      | 6.36%                 | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                                   | Trust Fibra Uno                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              |  | MX        |      1272000 | PA      | $1231992.04   | 0.01%             | 2030-01-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| TELUS CORP                                                       | TELUS Corp                                                                       | CUSIP: 87971MCL5<br>LEI: 894500TX134IMF6NW757 | Long             | DBT              | CORP              | CA        |      2900000 | PA      | $2932395.90   | 0.02%             | 2055-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                                             | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAJ1<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |      1026000 | PA      | $1021850.34   | 0.01%             | 2030-08-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                                       | DaVita Inc                                                                       | CUSIP: 23918KAS7<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |       751000 | PA      | $727007.50    | 0.00%             | 2030-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Froneri Lux Finco Sarl                                           | Froneri Lux Finco Sarl 2024 EUR Term Loan B3                                     | CUSIP: 000000000<br>LEI: 9845005YBZ75E5AA3B94 | Long             | LON              | CORP              | LU        |      1500000 | PA      | $1757288.07   | 0.01%             | 2031-09-30      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | MX        |            1 | NC      | $204677.71    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bethpage Park CLO LTD                                            | Bethpage Park CLO Ltd                                                            | CUSIP: 087598AG3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       500000 | PA      | $475638.50    | 0.00%             | 2036-10-15      | Floating      | 6.88%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2024-VLT4                                                               | CUSIP: 05612TAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10565054 | PA      | $10532038.70  | 0.06%             | 2041-06-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| SOLSTICE ADVANCED MATERI                                         | Solstice Advanced Materials Inc                                                  | CUSIP: 83443QAA1<br>LEI: 2138004GZ4H9TW6HK435 | Long             | DBT              | CORP              | US        |       334000 | PA      | $332220.92    | 0.00%             | 2033-09-30      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HJGG6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4192081 | PA      | $4253920.07   | 0.03%             | 2055-02-25      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| E-CARAT PLC                                                      | E-Carat UK 2026-1 PLC                                                            | CUSIP: 000000000<br>LEI: 6354009UVYHN8M4BQB63 | Long             | ABS-O            | CORP              | GB        |       375000 | PA      | $510281.14    | 0.00%             | 2034-01-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                                         | Snap Inc                                                                         | CUSIP: 83304AAL0<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |      1087000 | PA      | $1058234.94   | 0.01%             | 2033-03-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                      | FIGRE Trust 2026-HE1                                                             | CUSIP: 30249NAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1201331 | PA      | $1190395.93   | 0.01%             | 2056-01-25      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                           | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98379YAA0<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |       700000 | PA      | $733705.70    | 0.00%             | 2034-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| BRAVO Residential Funding Trust                                  | Bravo Residential Funding Trust Series 2025-NQM1                                 | CUSIP: 10569MAC7<br>LEI: 2549000KHGUZMZ31N203 | Long             | ABS-MBS          | CORP              | US        |     10264095 | PA      | $10323434.79  | 0.06%             | 2064-12-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch Large Loan Inc                     | BAMLL Commercial Mortgage Securities Trust 2025-NASH                             | CUSIP: 05494PAA4<br>LEI: 5493001M1XQ4INMTAE48 | Long             | ABS-MBS          | CORP              | US        |      8437000 | PA      | $8442273.13   | 0.05%             | 2040-09-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| Eagle Bidco Limited                                              | Eagle Bidco Limited 2025 EUR Term Loan B                                         | CUSIP: 000000000<br>LEI: 213800YANPDABTN5JJ43 | Long             | LON              | CORP              | GB        |      3000000 | PA      | $3529751.43   | 0.02%             | 2032-02-29      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | FTA Consumo Santander                                                            | CUSIP: 000000000<br>LEI: 9845003Q6DEF3R087B56 | Long             | ABS-O            | CORP              | ES        |       113500 | PA      | $133402.29    | 0.00%             | 2038-07-20      | Floating      | 3.89%                 | No            |                  2 | On Loan: No      |
| COMMERZBANK AG                                                   | Commerzbank AG                                                                   | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |      1200000 | PA      | $1564667.51   | 0.01%             | 2031-10-09      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                                     | Entegris Inc                                                                     | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |       156000 | PA      | $153778.40    | 0.00%             | 2028-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 6.550000 19-MAR-2030 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    336356950 | OU      | $21036.81     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NCL FINANCE LTD                                                  | NCL Finance Ltd                                                                  | CUSIP: 62888HAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |      1613000 | PA      | $1636461.09   | 0.01%             | 2028-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2023-PL1                                               | CUSIP: 64034UAA7<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |       195520 | PA      | $197981.81    | 0.00%             | 2053-11-25      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| Golden Bar Securitisation                                        | Golden Bar Securitisation Srl 2025-2                                             | CUSIP: 000000000<br>LEI: 549300GESLGUWWGJRM09 | Long             | ABS-O            | CORP              | IT        |       223458 | PA      | $262148.39    | 0.00%             | 2044-12-22      | Floating      | 3.32%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 12.900000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     14327232 | OU      | $-66940.58    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                        | Sunoco LP                                                                        | CUSIP: 86765KAC3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |       197000 | PA      | $206323.62    | 0.00%             | 2032-05-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Wildwood Park CLO LTD                                            | Wildwood Park CLO Ltd                                                            | CUSIP: 968209AA4<br>LEI: 254900BZ1VFIEIOEK304 | Long             | ABS-CBDO         | CORP              | JE        |      3000000 | PA      | $3005999.40   | 0.02%             | 2037-10-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Regatta XVII Funding Ltd                                         | Regatta XVII Funding Ltd                                                         | CUSIP: 75888BAQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      3900000 | PA      | $3907954.83   | 0.02%             | 2037-10-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| AES PANAMA GENERATION HL                                         | AES Panama Generation Holdings SRL                                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | PA        |      3522130 | PA      | $3322777.28   | 0.02%             | 2030-05-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| GoldenTree Loan Management US CLO1, LTD                          | GoldenTree Loan Management US CLO 23 Ltd                                         | CUSIP: 38139KAC3<br>LEI: 254900TP00US14X9AP48 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $4009192.80   | 0.02%             | 2039-01-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2026-P1                                   | CUSIP: 92263AAN6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1211493 | PA      | $1195543.00   | 0.01%             | 2056-03-25      | Variable      | 9.53%                 | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2025-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400KCWWV87X81YE49 | Long             | ABS-O            | CORP              | GB        |      2263513 | PA      | $3082504.56   | 0.02%             | 2032-12-20      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GB60<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      3155000 | PA      | $3154935.70   | 0.02%             | 2030-10-23      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| Elstree Funding                                                  | Elstree Funding                                                                  | CUSIP: 000000000<br>LEI: 635400JAGLODYUGMIF69 | Long             | ABS-MBS          | CORP              | GB        |      1006242 | PA      | $1368149.61   | 0.01%             | 2065-01-21      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                    | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |     11551000 | PA      | $11707030.91  | 0.07%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Voya Euro CLO                                                    | Voya Euro CLO IV DAC                                                             | CUSIP: 000000000<br>LEI: 549300H0DM0Z0GCEKC77 | Long             | ABS-CBDO         | CORP              | IE        |       500000 | PA      | $581584.38    | 0.00%             | 2034-10-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Together Asset Backed Securitisation                             | Together Asset Backed Securitisation 2025-2nd1 PLC                               | CUSIP: 000000000<br>LEI: 635400YLGUIWG9EKBV27 | Long             | ABS-MBS          | CORP              | GB        |       424000 | PA      | $580031.34    | 0.00%             | 2056-09-12      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                          | Starwood Property Trust Inc                                                      | CUSIP: 85571BBC8<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |      4555000 | PA      | $4608234.29   | 0.03%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VMED O2 UK FINAN                                                 | Vmed O2 UK Financing I PLC                                                       | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |      2854000 | PA      | $3340881.82   | 0.02%             | 2031-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| DBWF Mortgage Trust                                              | DBWF 2024-LCRS Mortgage Trust                                                    | CUSIP: 23307KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1997580 | PA      | $1996956.00   | 0.01%             | 2037-04-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| INGRAM MICRO INC                                                 | Ingram Micro Inc                                                                 | CUSIP: 45258LAA5<br>LEI: 549300KJMEWPKRQZHX63 | Long             | DBT              | CORP              | US        |      3834000 | PA      | $3767525.72   | 0.02%             | 2029-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NIDDA HEALTHCARE HOLDING                                         | Nidda Healthcare Holding GmbH                                                    | CUSIP: 000000000<br>LEI: 549300Q89C4WAO6L0L19 | Long             | DBT              | CORP              | DE        |      2500000 | PA      | $2945434.27   | 0.02%             | 2030-10-23      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 10-R Ltd                                                      | CUSIP: 67121RAL7<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3002925.00   | 0.02%             | 2038-07-18      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO1, LTD                          | GoldenTree Loan Management US CLO 22 Ltd                                         | CUSIP: 38139EAJ2<br>LEI: 254900AWFHWNFOUM2K51 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004919.40   | 0.01%             | 2037-10-20      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| PARK RIVER HOLDINGS INC                                          | Park River Holdings Inc                                                          | CUSIP: 70082LAC1<br>LEI: 254900PGY077KWCROT75 | Long             | DBT              | CORP              | US        |        25000 | PA      | $25137.20     | 0.00%             | 2031-03-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2024-C                                          | CUSIP: 83206EAB3<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      1465810 | PA      | $1463380.71   | 0.01%             | 2052-06-17      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                                   | Wynn Macau Ltd                                                                   | CUSIP: 98313RAL0<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |      2864000 | PA      | $2867580.00   | 0.02%             | 2034-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Edenbrook Mortgage Funding Plc                                   | Edenbrook Mortgage Funding PLC                                                   | CUSIP: 000000000<br>LEI: 635400URO7UOS6PWLH17 | Long             | ABS-O            | CORP              | GB        |       545475 | PA      | $743216.00    | 0.00%             | 2057-03-22      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                        | CIM Trust 2021-R6                                                                | CUSIP: 12567RAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5517146 | PA      | $5083935.69   | 0.03%             | 2061-07-25      | Variable      | 1.43%                 | No            |                  2 | On Loan: No      |
| Tharaldson Hotel Portfolio Trust                                 | THPT 2023-THL Mortgage Trust                                                     | CUSIP: 87252LAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6252359 | PA      | $6288105.51   | 0.04%             | 2034-12-10      | Variable      | 7.23%                 | No            |                  2 | On Loan: No      |
| WULF COMPUTE LLC                                                 | WULF Compute LLC                                                                 | CUSIP: 982911AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4996000 | PA      | $5250771.87   | 0.03%             | 2030-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman Loan Advisers CLO 46 Ltd                                        | CUSIP: 64134QAQ0<br>LEI: 549300LCOEVXWN75LP18 | Long             | ABS-CBDO         | CORP              | KY        |      2250000 | PA      | $2211099.75   | 0.01%             | 2037-01-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2024-RCF4 LLC                                                               | CUSIP: 74448JAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1211463 | PA      | $1192608.99   | 0.01%             | 2054-07-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                                                  | Oaktree CLO 2020-1 Ltd                                                           | CUSIP: 67402FAU3<br>LEI: 254900U83NJDV6PRP726 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2000282.40   | 0.01%             | 2038-01-15      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2025-11 Mortgage Loan Trust                                                 | CUSIP: 12676KAC7<br>LEI: 213800CETFGZSOQ6WF79 | Long             | ABS-MBS          | CORP              | US        |     12116969 | PA      | $12103492.25  | 0.07%             | 2070-11-25      | Variable      | 5.05%                 | No            |                  2 | On Loan: No      |
| INEOS FINANCE PLC                                                | INEOS Finance PLC                                                                | CUSIP: 000000000<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |      4098000 | PA      | $4656004.86   | 0.03%             | 2031-03-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Residential Mortgage Loan Trust                                  | Residential Mortgage Loan Trust 2019-2                                           | CUSIP: 76119DAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       895000 | PA      | $885079.28    | 0.01%             | 2059-05-25      | Variable      | 6.04%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                     | Voya CLO 2018-2 Ltd                                                              | CUSIP: 92917JAA5<br>LEI: 254900MS3D9HONB0N824 | Long             | ABS-CBDO         | CORP              | KY        |        25662 | PA      | $25673.73     | 0.00%             | 2031-07-15      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Brignole CO                                                      | Brignole Co                                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | IT        |        44836 | PA      | $53221.84     | 0.00%             | 2042-02-24      | Floating      | 5.94%                 | No            |                  2 | On Loan: No      |
| London Cards Plc                                                 | London Cards No3 PLC                                                             | CUSIP: 000000000<br>LEI: 635400THJ5YVVA4HYO05 | Long             | ABS-O            | CORP              | GB        |      1030000 | PA      | $1400375.27   | 0.01%             | 2035-12-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| New Mountain CLO Ltd                                             | New Mountain CLO 8 Ltd                                                           | CUSIP: 64755GAA5<br>LEI: 254900PW0IZ6YH8P9I85 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5009897.50   | 0.03%             | 2038-10-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                                           | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BR1<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |      5570000 | PA      | $5062966.07   | 0.03%             | 2031-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| YUM! BRANDS INC                                                  | Yum! Brands Inc                                                                  | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |      3873000 | PA      | $3835321.13   | 0.02%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-17786.62    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                             | Colombian TES                                                                    | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  12092700000 | PA      | $2395813.57   | 0.01%             | 2032-06-30      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                 | Altice France SA                                                                 | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |       673415 | PA      | $774285.30    | 0.00%             | 2032-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Contego CLO DAC                                                  | Contego Clo V DAC                                                                | CUSIP: 000000000<br>LEI: 549300RF10WJ1D9VYK55 | Long             | ABS-CBDO         | CORP              | IE        |      1560000 | PA      | $1805135.22   | 0.01%             | 2037-10-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | FSWP: OIS 9.360000 17-DEC-2029 IBR                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | GB        |  16418561720 | OU      | $352676.30    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | 1Y RTP 3.500000 08-JUN-2026                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |   -618590837 | OU      | $-1575185.89  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                                                | Clean Harbors Inc                                                                | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |      1336000 | PA      | $1359697.97   | 0.01%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2110000 | PA      | $2153451.23   | 0.01%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Last Mile Logistics Pan Euro Finance DAC                         | Last Mile Logistics Pan Euro Finance DAC                                         | CUSIP: 000000000<br>LEI: 635400NOPX1IKIAX7N90 | Long             | ABS-MBS          | CORP              | IE        |      1849984 | PA      | $2168842.03   | 0.01%             | 2033-08-17      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| ALLISON TRANSMISSION INC                                         | Allison Transmission Inc                                                         | CUSIP: 019736AF4<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |       557000 | PA      | $562218.53    | 0.00%             | 2029-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XXIX Ltd                                                            | CUSIP: 89643BAL5<br>LEI: 2549000HOL90CNMWDO78 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1005747.90   | 0.01%             | 2037-07-23      | Floating      | 7.07%                 | No            |                  2 | On Loan: No      |
| Montgomery Square Consumer Funding 1 plc                         | Montgomery Square Consumer Funding 1 PLC                                         | CUSIP: 000000000<br>LEI: 2138008R3BLOJPE63Y08 | Long             | ABS-O            | CORP              | GB        |      5696000 | PA      | $7760859.97   | 0.05%             | 2036-03-17      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                                | Service Corp International/US                                                    | CUSIP: 817565CD4<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |      1717000 | PA      | $1704430.53   | 0.01%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance Issuance Trust 2024-A                                            | CUSIP: 567928AD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1592000 | PA      | $1615860.90   | 0.01%             | 2036-09-22      | Fixed         | 6.77%                 | No            |                  2 | On Loan: No      |
| E-CARAT PLC                                                      | E-Carat UK 2026-1 PLC                                                            | CUSIP: 000000000<br>LEI: 6354009UVYHN8M4BQB63 | Long             | ABS-O            | CORP              | GB        |       168000 | PA      | $228605.95    | 0.00%             | 2034-01-26      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2025-H2 Mortgage Trust                                                     | CUSIP: 22758PAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2090511 | PA      | $2093246.85   | 0.01%             | 2070-03-25      | Variable      | 6.13%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos CLO XXXVII                                                                | CUSIP: 03769HAA5<br>LEI: 549300OGB01ASKLNI660 | Long             | ABS-CBDO         | CORP              | KY        |      1815000 | PA      | $1815591.69   | 0.01%             | 2034-10-22      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2020-PTB                                        | CUSIP: 78449DAC0<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      2555271 | PA      | $2544680.30   | 0.02%             | 2054-09-15      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2024-1 PLC                                              | CUSIP: 000000000<br>LEI: 635400RGKRFPCFMYJF13 | Long             | ABS-MBS          | CORP              | GB        |       319890 | PA      | $436995.59    | 0.00%             | 2067-02-15      | Floating      | 8.09%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman Loan Advisers Clo 40 Ltd                                        | CUSIP: 64134JAN3<br>LEI: 549300Y2YE54ON4DJE28 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5018687.50   | 0.03%             | 2037-10-16      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| SAIF Securitization Trust                                        | SAIF Securitization Trust 2026-CES1                                              | CUSIP: 78710HAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3706268 | PA      | $3703058.79   | 0.02%             | 2056-02-25      | Variable      | 5.40%                 | No            |                  2 | On Loan: No      |
| ARCHES BUYER INC                                                 | Arches Buyer Inc                                                                 | CUSIP: 039524AA1<br>LEI: 2549009ADY4208OH2Y47 | Long             | DBT              | CORP              | US        |      3678000 | PA      | $3599500.45   | 0.02%             | 2028-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                 | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | US        |            1 | NC      | $7769.73      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Pierpont BTL                                                     | Pierpont Btl 2026-1 PLC                                                          | CUSIP: 000000000<br>LEI: 213800UHT3RX1VL8CX54 | Long             | ABS-MBS          | CORP              | GB        |      4895000 | PA      | $6657745.93   | 0.04%             | 2062-12-21      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2025-H1 Mortgage Trust                                                     | CUSIP: 22758NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8253650 | PA      | $8310726.57   | 0.05%             | 2070-02-25      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                            | KKR Clo 25 Ltd                                                                   | CUSIP: 48252UAW7<br>LEI: 549300MJB0YZ0QTQNZ45 | Long             | ABS-CBDO         | CORP              | KY        |      1300000 | PA      | $1302518.62   | 0.01%             | 2034-07-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD PLN                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $-162805.07   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KINGDOM OF JORDAN                                                | Jordan Government International Bond                                             | CUSIP: 41809JAB1<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |       542000 | PA      | $562335.84    | 0.00%             | 2029-01-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| MADISON IAQ LLC                                                  | Madison IAQ LLC                                                                  | CUSIP: 55760LAA5<br>LEI: 549300IXDNBXNHUPBU73 | Long             | DBT              | CORP              | US        |      2354000 | PA      | $2321199.13   | 0.01%             | 2028-06-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                                                   | PMT Loan Trust 2025-INV4                                                         | CUSIP: 73015DAC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3134641 | PA      | $3135132.99   | 0.02%             | 2056-03-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| NSW ELECTRICITY NETWORKS                                         | NSW Electricity Networks Finance Pty Ltd                                         | CUSIP: 000000000<br>LEI: 5493009VPYKFFK7UXM97 | Long             | DBT              | CORP              | AU        |      2420000 | PA      | $1665845.64   | 0.01%             | 2055-11-20      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2993000 | PA      | $2718428.88   | 0.02%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Jordan Government International Bonds                            | Jordan Government International Bonds                                            | CUSIP: 000000000<br>LEI: 5493000JZ4MYPVMBVN50 | Long             | DBT              | NUSS              | JO        |      6854000 | PA      | $7111162.08   | 0.04%             | 2029-01-13      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ARGENT BIDCO SAS                                                 | ARGENT BIDCO SAS EUR TERM LOAN B                                                 | CUSIP: 000000000<br>LEI: 969500EUACKHJGAJ8J38 | Long             | LON              | CORP              | FR        |      1300000 | PA      | $1532824.05   | 0.01%             | 2032-11-12      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XXX Ltd                                                             | CUSIP: 89643EAA3<br>LEI: 254900TSX6348DURD845 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1494331.95   | 0.01%             | 2037-10-23      | Floating      | 10.57%                | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $-7913407.57  | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.120000 17-JUN-2031 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     63672000 | OU      | $351543.83    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Westpac Securitisation Trust                                     | Series 2026-1 WST Trust                                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      9299728 | PA      | $6677397.57   | 0.04%             | 2057-09-19      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch Large Loan Inc                     | BAMLL Commercial Mortgage Securities Trust 2026-HRHB                             | CUSIP: 05557KAA9<br>LEI: 5493001M1XQ4INMTAE48 | Long             | ABS-MBS          | CORP              | US        |      2390000 | PA      | $2390000.00   | 0.01%             | 2040-05-05      | Variable      | 5.36%                 | No            |                  2 | On Loan: No      |
| Navient Refinance Loan Trust                                     | Navient Refinance Loan Trust 2025-B                                              | CUSIP: 63943NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3959773 | PA      | $3924534.99   | 0.02%             | 2055-09-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2025-CES1 Mortgage Trust                                                   | CUSIP: 22757WAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3760680 | PA      | $3753753.83   | 0.02%             | 2060-11-25      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                         | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 29103CAA6<br>LEI: 5493000GJYE7GAQCUC61 | Long             | DBT              | CORP              | US        |      5963000 | PA      | $6104794.18   | 0.04%             | 2030-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SLG Trust                                                        | SLG Office Trust 2026-OMA                                                        | CUSIP: 78451FAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       750000 | PA      | $752709.68    | 0.00%             | 2041-04-15      | Variable      | 4.97%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                             | Deephaven Residential Mortgage Trust 2025-INV1                                   | CUSIP: 24382EAC1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10990766 | PA      | $10967142.59  | 0.07%             | 2060-11-25      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| MidOcean Credit CLO                                              | Midocean Credit Clo XXI                                                          | CUSIP: 597924AA7<br>LEI: 254900LHC18VUV4A5266 | Long             | ABS-CBDO         | CORP              | KY        |      2700000 | PA      | $2705780.16   | 0.02%             | 2038-10-20      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2026-1 PLC                                              | CUSIP: 000000000<br>LEI: 2138006RXLKWX319BI66 | Long             | ABS-MBS          | CORP              | GB        |       894000 | PA      | $1218117.25   | 0.01%             | 2068-04-17      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| SUNRISE FINCO I BV                                               | Sunrise FinCo I BV                                                               | CUSIP: 000000000<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |     10354000 | PA      | $12028886.55  | 0.07%             | 2032-05-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Odido Holding BV                                                 | Odido Holding BV 2025 EUR Term Loan B2                                           | CUSIP: 000000000<br>LEI: 7245000O9YOLPPM9YB33 | Long             | LON              | CORP              | NL        |      2000000 | PA      | $2359364.49   | 0.01%             | 2029-03-30      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| BSPDF Issuer Ltd                                                 | BSPDF 2025-FL2 Issuer LLC                                                        | CUSIP: 05615KAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      8217000 | PA      | $8237366.66   | 0.05%             | 2042-12-15      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| CROSSCOUNTRY INTER                                               | CrossCountry Intermediate HoldCo LLC                                             | CUSIP: 22757VAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2673000 | PA      | $2583662.46   | 0.02%             | 2032-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MINERVA LUXEMBOURG SA                                            | Minerva Luxembourg SA                                                            | CUSIP: 603374AK5<br>LEI: 222100NM3G3RCPGZ2Z17 | Long             | DBT              | CORP              | LU        |       390000 | PA      | $382395.00    | 0.00%             | 2036-04-22      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                           | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      5073000 | PA      | $4747892.74   | 0.03%             | 2029-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| AMWINS GROUP INC                                                 | AmWINS Group Inc                                                                 | CUSIP: 031921AB5<br>LEI: 549300SJE7MUB8NMRG61 | Long             | DBT              | CORP              | US        |      3854000 | PA      | $3727202.67   | 0.02%             | 2029-06-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                                                 | Credit Acceptance Corp                                                           | CUSIP: 225310AQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       150000 | PA      | $156421.20    | 0.00%             | 2028-12-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                | Herc Holdings Inc                                                                | CUSIP: 42704LAG9<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |      2843000 | PA      | $2977272.05   | 0.02%             | 2033-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Nomura Resecuritization Trust                                    | Nomura Resecuritization Trust 2014-8R                                            | CUSIP: 65540QAB8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       860158 | PA      | $823895.84    | 0.00%             | 2036-10-26      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.548300 17-DEC-2027 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     29606142 | OU      | $23904.46     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                              | Affirm Master Trust                                                              | CUSIP: 00833BAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3418000 | PA      | $3434642.24   | 0.02%             | 2033-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Golden Ray S.A.                                                  | Golden Ray SA Compartment 2                                                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       200000 | PA      | $235386.01    | 0.00%             | 2058-12-27      | Floating      | 3.47%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                            | Wells Fargo Commercial Mortgage Trust 2018-C46                                   | CUSIP: 95001QAX9<br>LEI: 549300PX4QZK7CUM8D08 | Long             | ABS-MBS          | CORP              | US        |       660000 | PA      | $648039.41    | 0.00%             | 2051-08-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2025-5                                                  | CUSIP: 03466EAA8<br>LEI: 254900QA46POYH7UR768 | Long             | ABS-MBS          | CORP              | US        |      9199879 | PA      | $9249355.39   | 0.05%             | 2070-04-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                                             | Aramark Services Inc                                                             | CUSIP: 038522AQ1<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |      2896000 | PA      | $2890166.59   | 0.02%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hops Hill                                                        | Hops Hill NO 5 PLC                                                               | CUSIP: 000000000<br>LEI: 635400LDVC1LDKJUB342 | Long             | ABS-MBS          | CORP              | GB        |       249000 | PA      | $337758.02    | 0.00%             | 2056-06-21      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                           | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98380MAB1<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |      4195000 | PA      | $4495427.74   | 0.03%             | 2033-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: —       |
| Bank of America NA                                               | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |            1 | NC      | $-36315.15    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XXXV Ltd                                                            | CUSIP: 89643NAA3<br>LEI: 2549006LSGK3FM05EN89 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2502560.00   | 0.01%             | 2039-01-22      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED INR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | IN        |            1 | NC      | $55709.22     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                            | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAD0<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |      4963000 | PA      | $4838485.28   | 0.03%             | 2033-04-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                         | Hess Midstream Operations LP                                                     | CUSIP: 428102AG2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2502000 | PA      | $2563486.65   | 0.02%             | 2029-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2017-I Ltd                                                          | CUSIP: 17181PAC3<br>LEI: 549300X1SKS4LNS5LQ62 | Long             | ABS-CBDO         | CORP              | KY        |      1070000 | PA      | $1071229.32   | 0.01%             | 2037-04-21      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | BR        |            1 | NC      | $2042943.02   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-3                                    | CUSIP: 92262RAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11394814 | PA      | $11432658.04  | 0.07%             | 2055-06-25      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2025-SPL1                         | CUSIP: 617946AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19066621 | PA      | $18564198.17  | 0.11%             | 2065-02-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                                     | Alphabet Inc                                                                     | CUSIP: 000000000<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |      4789000 | PA      | $5311537.16   | 0.03%             | 2064-11-06      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                         | Service Properties Trust                                                         | CUSIP: 44106MBB7<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |      1234000 | PA      | $1159651.50   | 0.01%             | 2029-10-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: —       |
| NATIONWIDE BLDG SOCIETY                                          | Nationwide Building Society                                                      | CUSIP: 000000000<br>LEI: 549300XFX12G42QIKN82 | Long             | DBT              | CORP              | GB        |      5225000 | PA      | $7232357.17   | 0.04%             | 2030-12-20      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                       | BFLD Trust 2025-FPM                                                              | CUSIP: 05556HAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1877000 | PA      | $1868808.57   | 0.01%             | 2040-10-10      | Variable      | 6.88%                 | No            |                  2 | On Loan: No      |
| VELOCITY 2026-1 PLC                                              | Velocity 2026-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800PL94CXWBF7SX91 | Long             | ABS-O            | CORP              | GB        |      2950000 | PA      | $4020598.28   | 0.02%             | 2037-02-25      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| LIQUID TELECOM FINANCE                                           | Liquid Telecommunications Financing Plc                                          | CUSIP: 536333AC1<br>LEI: 635400MXAVJRJJCWVI87 | Long             | DBT              | CORP              | GB        |       321000 | PA      | $326184.15    | 0.00%             | 2031-04-14      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Corp Trust 2024-RVR                                       | CUSIP: 36272JAL7<br>LEI: 5493001UQE7OCP3UT106 | Long             | ABS-MBS          | CORP              | US        |      2636000 | PA      | $2610895.97   | 0.02%             | 2041-08-10      | Variable      | 7.72%                 | No            |                  2 | On Loan: No      |
| LLOYDS BANKING GROUP PLC                                         | Lloyds Banking Group PLC                                                         | CUSIP: 000000000<br>LEI: 549300PPXHEU2JF0AM85 | Long             | DBT              | CORP              | GB        |      7000000 | PA      | $8232399.13   | 0.05%             | 2035-05-09      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HLLC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2988095 | PA      | $3034489.54   | 0.02%             | 2055-06-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2021-IV Ltd                                                         | CUSIP: 12547DAS5<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      3730000 | PA      | $3738937.08   | 0.02%             | 2037-07-23      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-OMG                                                                | CUSIP: 05619HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5394000 | PA      | $5394000.00   | 0.03%             | 2042-10-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| GGP Trust                                                        | GGP 2026-TY                                                                      | CUSIP: 373914AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5000000 | PA      | $4950645.00   | 0.03%             | 2043-03-05      | Variable      | 4.83%                 | No            |                  2 | On Loan: No      |
| Aimco                                                            | AIMCO CLO 24 Ltd                                                                 | CUSIP: 00092PAE3<br>LEI: 254900THVAKUZYK59M09 | Long             | ABS-CBDO         | CORP              | KY        |      1575000 | PA      | $1583563.28   | 0.01%             | 2038-04-19      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| HSBC BANK PLC                                                    | USD P CLP C @905.00 EO                                                           | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |     -9457000 | OU      | $-141940.11   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Italy Buoni Poliennali Del Tesoro                                | Italy Buoni Poliennali Del Tesoro                                                | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |     89587000 | PA      | $103502670.76 | 0.61%             | 2031-02-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| CORP FINANCIERA DE DESAR                                         | Corp Financiera de Desarrollo SA                                                 | CUSIP: 000000000<br>LEI: 254900BOM7T4MG6T0J30 | Long             | DBT              | NUSS              | PE        |      9128000 | PA      | $8858582.52   | 0.05%             | 2027-09-28      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                   | CUSIP: 629377CH3<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |      5877000 | PA      | $5855185.75   | 0.03%             | 2029-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2024-CES2                                        | CUSIP: 10570PAA1<br>LEI: 2549009UFWL9U1TS6959 | Long             | ABS-MBS          | CORP              | US        |      3578232 | PA      | $3585834.10   | 0.02%             | 2054-09-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| ALUMINA PTY LTD                                                  | Alumina Pty Ltd                                                                  | CUSIP: 02220AAA5<br>LEI: 2138002VD9MW2WT8HR38 | Long             | DBT              | CORP              | AU        |       200000 | PA      | $204432.40    | 0.00%             | 2030-03-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2025-A                                                 | CUSIP: 64033XAC8<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      5670000 | PA      | $5630408.66   | 0.03%             | 2057-03-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| HT TROPLAST AG                                                   | HT Troplast GmbH                                                                 | CUSIP: 000000000<br>LEI: 529900Y2N2GAY3FXGP86 | Long             | DBT              | CORP              | DE        |      5829000 | PA      | $6950901.84   | 0.04%             | 2028-07-15      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Pepper Residential Securities Trust                              | Pepper Residential Securities Trust No. 41                                       | CUSIP: 000000000<br>LEI: 984500E40EDT6B13R494 | Long             | ABS-MBS          | CORP              | AU        |       870000 | PA      | $624590.33    | 0.00%             | 2067-07-12      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust 2021-909                           | NYC Commercial Mortgage Trust 2025-11X                                           | CUSIP: 67122NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3910000 | PA      | $3919775.00   | 0.02%             | 2040-10-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2025-NQM5                                    | CUSIP: 64832GAG9<br>LEI: 213800USJ6KQFZEWGZ76 | Long             | ABS-MBS          | CORP              | US        |      1300000 | PA      | $1281105.02   | 0.01%             | 2065-08-25      | Variable      | 6.83%                 | No            |                  2 | On Loan: No      |
| ION PLATFORM FINANCE SAR                                         | ION Platform Finance SARL                                                        | CUSIP: 000000000<br>LEI: 6488IU1F9M51Z3P60R77 | Long             | DBT              | CORP              | LU        |     13758000 | PA      | $14921999.82  | 0.09%             | 2029-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| JONES DESLAURIERS INSURA                                         | Jones Deslauriers Insurance Management Inc                                       | CUSIP: 48020RAB1<br>LEI: 549300JQIWNFU00E5424 | Long             | DBT              | CORP              | CA        |      2608000 | PA      | $2688352.48   | 0.02%             | 2030-03-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                                         | Jefferies Finance LLC / JFIN Co-Issuer Corp                                      | CUSIP: 47232MAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2505000 | PA      | $2403144.70   | 0.01%             | 2028-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| HILL FL                                                          | Hill FL 2025-1 BV                                                                | CUSIP: 000000000<br>LEI: 72450069R7MTUFTXDC59 | Long             | ABS-O            | CORP              | NL        |      1877000 | PA      | $2210278.46   | 0.01%             | 2032-10-18      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| TUI CRUISES GMBH                                                 | TUI Cruises GmbH                                                                 | CUSIP: 000000000<br>LEI: 529900SVD83QUUIZYY18 | Long             | DBT              | CORP              | DE        |      1000000 | PA      | $1200332.21   | 0.01%             | 2029-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                                         | Suburban Propane Partners LP/Suburban Energy Finance Corp                        | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1376000 | PA      | $1321039.12   | 0.01%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vantage Data Centers Jersey Borrower SPV Limited                 | Vantage Data Centers Jersey Borrower Spv Ltd                                     | CUSIP: 000000000<br>LEI: 213800S5S638C9IBQ379 | Long             | ABS-O            | CORP              | JE        |      1889000 | PA      | $2516281.29   | 0.01%             | 2039-05-28      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2024-INV1                                                                   | CUSIP: 268434AL1<br>LEI: 2549005YTE90D77H8V23 | Long             | ABS-MBS          | CORP              | US        |      1803940 | PA      | $1821400.36   | 0.01%             | 2069-03-25      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                                | GEO Group Inc/The                                                                | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |      3816000 | PA      | $3970250.35   | 0.02%             | 2029-04-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Four Srl                 | CUSIP: 000000000<br>LEI: 8156003524A4F7B21C64 | Long             | ABS-O            | CORP              | IT        |      6800572 | PA      | $7997396.32   | 0.05%             | 2040-08-16      | Floating      | 2.72%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2017-3                                                  | CUSIP: 46647SBA7<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       875345 | PA      | $797423.53    | 0.00%             | 2047-08-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                            | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AE6<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |      6225000 | PA      | $6419705.55   | 0.04%             | 2030-12-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2024-NPL1 Trust                                                              | CUSIP: 58004YAA7<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      1547923 | PA      | $1550249.08   | 0.01%             | 2054-09-25      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| TELECOM ARGENTINA SA                                             | Telecom Argentina SA                                                             | CUSIP: 879273AV2<br>LEI: 549300MKPIRSJD8SB782 | Long             | DBT              | CORP              | AR        |       621506 | PA      | $659355.72    | 0.00%             | 2033-05-28      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED USD / SOLD TWD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |            1 | NC      | $160.59       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding LIX Ltd                                                     | CUSIP: 55822EAJ8<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |      6000000 | PA      | $6011163.60   | 0.04%             | 2037-04-18      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                      | RCKT Mortgage Trust 2024-CES3                                                    | CUSIP: 74942AAA1<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |      1046352 | PA      | $1056464.55   | 0.01%             | 2044-05-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| Mila B.V.                                                        | Mila 2025-1 BV                                                                   | CUSIP: 000000000<br>LEI: 72450098VTA940FX5997 | Long             | ABS-O            | CORP              | NL        |       100000 | PA      | $116702.44    | 0.00%             | 2042-10-12      | Floating      | 3.34%                 | No            |                  2 | On Loan: No      |
| Pierpont BTL                                                     | Pierpont BTL 2024-1 PLC                                                          | CUSIP: 000000000<br>LEI: 6354004XBFL8EVVJME24 | Long             | ABS-MBS          | CORP              | GB        |      1347911 | PA      | $1836353.41   | 0.01%             | 2061-09-21      | Floating      | 4.59%                 | No            |                  2 | On Loan: No      |
| PHILIPPINE GOVERNMENT                                            | Philippine Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   1101200000 | PA      | $17597469.77  | 0.10%             | 2030-07-27      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ACRA Trust 2024-NQM1                                             | ACRA Trust 2024-NQM1                                                             | CUSIP: 00112EAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5011266 | PA      | $5028477.35   | 0.03%             | 2064-10-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| Residential Mortgage Loan Trust                                  | Residential Mortgage Loan Trust 2020-1                                           | CUSIP: 76119CAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2250000 | PA      | $2149838.33   | 0.01%             | 2060-01-26      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                      | PRKCM 2026-AFC1 Trust                                                            | CUSIP: 74277KAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9593267 | PA      | $9499993.12   | 0.06%             | 2061-02-25      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2024-3 Mortgage Loan Trust                                                  | CUSIP: 19688VAE0<br>LEI: 213800YFAHWZN77V6P52 | Long             | ABS-MBS          | CORP              | US        |      2000000 | PA      | $2031655.60   | 0.01%             | 2069-06-25      | Variable      | 7.80%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                                                   | CVR Energy Inc                                                                   | CUSIP: 12662PAJ7<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |      3415000 | PA      | $3425385.02   | 0.02%             | 2034-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |      1532000 | PA      | $1645351.15   | 0.01%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| Polaris                                                          | Polaris 2025-2 PLC                                                               | CUSIP: 000000000<br>LEI: 6354008SKUHLCPHT7N63 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $136910.31    | 0.00%             | 2068-08-25      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                                            | Trivium Packaging Finance BV                                                     | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |      5127000 | PA      | $5589860.43   | 0.03%             | 2031-01-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                          | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABG2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |      1052000 | PA      | $1052000.00   | 0.01%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Battalion CLO LTD                                                | Battalion Clo XV Ltd                                                             | CUSIP: 07131AAM6<br>LEI: 549300CJP8HGT746II19 | Long             | ABS-CBDO         | CORP              | KY        |      2722749 | PA      | $2721403.60   | 0.02%             | 2033-01-17      | Floating      | 4.66%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                           | CUSIP: 77586RAN0<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |       314000 | PA      | $314737.90    | 0.00%             | 2027-11-25      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL PLAQUE                                            | Venture Global Plaquemines LNG LLC                                               | CUSIP: 922966AA4<br>LEI: 549300TKP4I6OJ02BF90 | Long             | DBT              | CORP              | US        |      1768000 | PA      | $1960646.58   | 0.01%             | 2033-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust                                            | Arroyo Mortgage Trust 2019-3                                                     | CUSIP: 04285AAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       315139 | PA      | $302222.58    | 0.00%             | 2048-10-25      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2015-1                                       | CUSIP: 64829CAD0<br>LEI: 549300RCJSGOC0A85G53 | Long             | ABS-MBS          | CORP              | US        |       402517 | PA      | $386588.63    | 0.00%             | 2052-05-28      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2019-II Ltd                                                         | CUSIP: 12554ABA9<br>LEI: 254900JI8OLAMXS6KW67 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2004373.00   | 0.01%             | 2038-10-17      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| Pikes Peak CLO                                                   | Pikes Peak CLO 14 2023 Ltd                                                       | CUSIP: 72134CAL5<br>LEI: 213800AO7LGLGDRRY278 | Long             | ABS-CBDO         | CORP              | JE        |      1620000 | PA      | $1624377.89   | 0.01%             | 2038-07-20      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| SONA FIOS CLO                                                    | Sona Fios CLO V DAC                                                              | CUSIP: 000000000<br>LEI: 635400CQGC8D7FRXGH67 | Long             | ABS-CBDO         | CORP              | IE        |      1200000 | PA      | $1420152.55   | 0.01%             | 2038-08-25      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Sound Point CLO LTD                                              | Sounds Point CLO IV-R LTD                                                        | CUSIP: 83609YAC0<br>LEI: 549300HOEGQTNS4MTZ12 | Long             | ABS-CBDO         | CORP              | KY        |      1985938 | PA      | $1986848.41   | 0.01%             | 2031-04-18      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      3243154 | PA      | $3056672.65   | 0.02%             | 2038-02-15      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                               | A&D Mortgage Trust 2025-NQM2                                                     | CUSIP: 00250EAC0<br>LEI: 9845004ECDEDFFFFC959 | Long             | ABS-MBS          | CORP              | US        |      4031601 | PA      | $4058958.73   | 0.02%             | 2070-06-25      | Variable      | 5.79%                 | No            |                  2 | On Loan: No      |
| SEPLAT ENERGY PLC                                                | SEPLAT Energy PLC                                                                | CUSIP: 000000000<br>LEI: 029200711C4S4CB2E982 | Long             | DBT              | CORP              | NG        |      3183000 | PA      | $3394669.50   | 0.02%             | 2030-03-21      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                                         | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |      1885000 | PA      | $1885469.37   | 0.01%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD INR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $212674.90    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                                          | Hungary Government Bond                                                          | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1362010000 | PA      | $4459250.15   | 0.03%             | 2037-09-23      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                                          | National Australia Bank Ltd                                                      | CUSIP: 000000000<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |      5000000 | PA      | $3612961.98   | 0.02%             | 2035-11-14      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                                             | Signal Peak CLO 7 Ltd                                                            | CUSIP: 82671EAA3<br>LEI: 635400L44OLNOBHFTO08 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002169.40   | 0.01%             | 2037-10-20      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| GoodLeap Home Improvement Solutions Trust                        | GoodLeap Home Improvement Solutions Trust 2025-2                                 | CUSIP: 38238FAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3824137 | PA      | $3836561.73   | 0.02%             | 2049-06-20      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| UPX HIL 2025-1 Issuer Trust                                      | UPX HIL 2025-1 Issuer Trust                                                      | CUSIP: 916925AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4376654 | PA      | $4364647.73   | 0.03%             | 2047-01-25      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                     | CSMC 2021-AFC1 Trust                                                             | CUSIP: 12657LAA2<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      2033361 | PA      | $1654023.83   | 0.01%             | 2056-03-25      | Variable      | 0.83%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                                                 | Cinemark USA Inc                                                                 | CUSIP: 172441BF3<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |      1542000 | PA      | $1536046.18   | 0.01%             | 2028-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| WESTCONNEX FINANCE CO PT                                         | WestConnex Finance Co Pty Ltd                                                    | CUSIP: 000000000<br>LEI: 254900CGI0XY1HBTHF74 | Long             | DBT              | CORP              | AU        |      3900000 | PA      | $2784023.59   | 0.02%             | 2032-04-30      | Fixed         | 5.94%                 | No            |                  2 | On Loan: No      |
| MIRA Trust                                                       | MIRA Trust 2023-MILE                                                             | CUSIP: 55318EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       103000 | PA      | $105711.58    | 0.00%             | 2038-06-10      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 64B-R Ltd                                             | CUSIP: 38180LAG0<br>LEI: 2549003ONNJ1D27UVJ28 | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $987311.00    | 0.01%             | 2037-10-25      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| Rainbow Finco Sa rl                                              | Rainbow Finco Sa rl EUR Term Loan B                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | GB        |      1000000 | PA      | $1183426.19   | 0.01%             | 2029-02-23      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                          | Hungary Government International Bond                                            | CUSIP: 445545AX4<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |       662000 | PA      | $708757.06    | 0.00%             | 2055-09-23      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| HalseyPoint CLO I, Ltd.                                          | Halseypoint Clo 5 Ltd                                                            | CUSIP: 406371AA2<br>LEI: 549300VBED2CGY7JQG51 | Long             | ABS-CBDO         | CORP              | KY        |       700000 | PA      | $700351.75    | 0.00%             | 2035-01-30      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Merit                                                            | MHP 2021-STOR                                                                    | CUSIP: 55293BAF2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       215000 | PA      | $214865.63    | 0.00%             | 2038-07-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                          | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAF2<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |       952000 | PA      | $976295.21    | 0.01%             | 2028-09-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                                           | WESCO Distribution Inc                                                           | CUSIP: 95081QAP9<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |       165000 | PA      | $165413.16    | 0.00%             | 2028-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| GATEGROUP FIN LUXEMBOURG SA                                      | Gategroup Fin Luxembourg SA EUR Repriced Term Loan                               | CUSIP: 000000000<br>LEI: 5299006HGCSTED8GE975 | Long             | LON              | CORP              | LU        |      1477876 | PA      | $1721499.89   | 0.01%             | 2032-06-10      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.225000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    148969028 | OU      | $-546614.55   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KSL COMMERCIAL MORTGAGE                                          | KSL COMMERCIAL MORTGAGE                                                          | CUSIP: 50116JAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8585000 | PA      | $8612338.25   | 0.05%             | 2042-06-05      | Fixed         | 7.76%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SERBIA                                               | Serbia International Bond                                                        | CUSIP: 817477AJ1<br>LEI: 254900W94OCY91V32O78 | Long             | DBT              | NUSS              | RS        |       746000 | PA      | $765023.00    | 0.00%             | 2034-06-12      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CONTOURGLOBAL POWER HLDG                                         | ContourGlobal Power Holdings SA                                                  | CUSIP: 000000000<br>LEI: 549300O5AGIFK0PQ1516 | Long             | DBT              | CORP              | LU        |     14682000 | PA      | $16714813.14  | 0.10%             | 2031-07-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2024-6                                    | CUSIP: 92261BAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5241934 | PA      | $5257781.72   | 0.03%             | 2054-12-25      | Variable      | 5.81%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2026-NQM1                                    | CUSIP: 36276EAJ9<br>LEI: 254900WEVNJASLS4UV47 | Long             | ABS-MBS          | CORP              | US        |       372549 | PA      | $368543.69    | 0.00%             | 2066-03-25      | Variable      | 6.63%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XIV Ltd                                                     | CUSIP: 55818RBS4<br>LEI: 254900Q2IOW6JYPYIV98 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3020231.10   | 0.02%             | 2030-10-22      | Floating      | 6.56%                 | No            |                  2 | On Loan: No      |
| Quarzo Srl                                                       | Quarzo Srl                                                                       | CUSIP: 000000000<br>LEI: 815600702F68B2ED0B22 | Long             | ABS-O            | CORP              | IT        |       677269 | PA      | $796230.59    | 0.00%             | 2041-06-15      | Floating      | 2.94%                 | No            |                  2 | On Loan: No      |
| COOPER-STANDARD AUTOMOTI                                         | Cooper-Standard Automotive Inc                                                   | CUSIP: 216762AK0<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |      5136000 | PA      | $4935131.04   | 0.03%             | 2031-03-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: —       |
| Fairbridge                                                       | Fairbridge 2025-1 BV                                                             | CUSIP: 000000000<br>LEI: 724500T08SS1ZWOYTR56 | Long             | ABS-MBS          | CORP              | NL        |       361715 | PA      | $423155.80    | 0.00%             | 2062-02-24      | Floating      | 3.27%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | Santander Consumo 8 Fondo de Titulizacion                                        | CUSIP: 000000000<br>LEI: 529900MNYVA8N0FZJK96 | Long             | ABS-O            | CORP              | ES        |       400000 | PA      | $472244.71    | 0.00%             | 2040-01-21      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| ALTICE FRANCE SA                                                 | Altice France SA                                                                 | CUSIP: 000000000<br>LEI: 5493001ZMCICV4N02J21 | Long             | DBT              | CORP              | FR        |       748238 | PA      | $858097.33    | 0.01%             | 2030-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| IMCD NV                                                          | IMCD NV                                                                          | CUSIP: 000000000<br>LEI: 724500NSJPNFJPDAUP02 | Long             | DBT              | CORP              | NL        |      7193000 | PA      | $8671950.52   | 0.05%             | 2028-09-18      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                                     | Novelis Corp                                                                     | CUSIP: 670001AL0<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |      2523000 | PA      | $2586619.97   | 0.02%             | 2030-01-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-XL4                                            | CUSIP: 05611VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4476225 | PA      | $4480421.15   | 0.03%             | 2039-02-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318BC7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2035000 | PA      | $2176029.57   | 0.01%             | 2033-11-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                                   | Upgrade Master Pass-Thru Trust Series 2026-ST1                                   | CUSIP: 91533VAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2295495 | PA      | $2292468.08   | 0.01%             | 2034-03-15      | Fixed         | 4.24%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                          | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5354000 | PA      | $5550870.60   | 0.03%             | 2031-04-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Spain Government Bonds                                           | Spain Government Bonds                                                           | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |    123589000 | PA      | $142684712.61 | 0.85%             | 2036-04-30      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2024-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400IRBWDPWKGK1C24 | Long             | ABS-O            | CORP              | GB        |       500000 | PA      | $690815.21    | 0.00%             | 2031-08-20      | Floating      | 10.69%                | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 4.169300 23-OCT-2026 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      1786400 | OU      | $7148.02      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L                                         | Fortescue Treasury Pty Ltd                                                       | CUSIP: 30251GBA4<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |      1531000 | PA      | $1519059.01   | 0.01%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-1NYP                               | One New York Plaza Trust 2020-1NYP                                               | CUSIP: 68249DAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       519000 | PA      | $503105.63    | 0.00%             | 2036-01-15      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2023-1 Mortgage Loan Trust                                                  | CUSIP: 19688NAA6<br>LEI: 2138001HZNOLT1K3WY73 | Long             | ABS-MBS          | CORP              | US        |       214940 | PA      | $214313.42    | 0.00%             | 2068-04-25      | Variable      | 6.05%                 | No            |                  2 | On Loan: No      |
| Cedar Funding Ltd                                                | Cedar Funding VII Clo Ltd                                                        | CUSIP: 15032FAW6<br>LEI: 549300G87EGFMLOYN341 | Long             | ABS-CBDO         | CORP              | KY        |      3500000 | PA      | $3506780.55   | 0.02%             | 2038-10-20      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |      7342000 | PA      | $8833824.28   | 0.05%             | 2030-03-10      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HL3Y6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      3938632 | PA      | $4000097.59   | 0.02%             | 2055-05-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| ACEN FINANCE LTD                                                 | ACEN Finance Ltd                                                                 | CUSIP: 000000000<br>LEI: 54930080P6CVPPSROL50 | Long             | DBT              | CORP              | KY        |      1198000 | PA      | $750547.00    | 0.00%             | 2026-09-08      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| KKR Financial CLO Ltd                                            | KKR CLO 28 LTD                                                                   | CUSIP: 48253WAW2<br>LEI: 549300OP87QBZ6KR1406 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5001674.50   | 0.03%             | 2035-02-09      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2025-1                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |      2283218 | PA      | $1643080.12   | 0.01%             | 2033-03-15      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM10                        | CUSIP: 617955AB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2560000 | PA      | $2554277.12   | 0.02%             | 2070-11-25      | Variable      | 5.24%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: BRL 13.398750 03-JAN-2028 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    515620000 | OU      | $-652793.64   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SAUDI ELECTRICITY SUKUK                                          | Saudi Electricity Sukuk Programme Co                                             | CUSIP: 000000000<br>LEI: 549300KZ4IZK3RMUO096 | Long             | DBT              | CORP              | KY        |      7640000 | PA      | $7734201.20   | 0.05%             | 2030-02-18      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| Pavillion Consumer PLC                                           | Pavillion Consumer 2025-1 PLC                                                    | CUSIP: 000000000<br>LEI: 213800XK4G6W1NHSJJ12 | Long             | ABS-O            | CORP              | GB        |      4106000 | PA      | $5575806.85   | 0.03%             | 2036-01-25      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2025-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400KCWWV87X81YE49 | Long             | ABS-O            | CORP              | GB        |       548310 | PA      | $747757.48    | 0.00%             | 2032-12-20      | Floating      | 8.99%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                      | RCKT Mortgage Trust 2024-CES8                                                    | CUSIP: 749421AA1<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |      4455890 | PA      | $4470545.82   | 0.03%             | 2044-11-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| 610 Funding 2 CLO Ltd                                            | Anchorage Capital CLO 2026-22 Ltd                                                | CUSIP: 03333KAC1<br>LEI: 549300GQXKMJDZ17HU89 | Long             | ABS-CBDO         | CORP              | KY        |     15000000 | PA      | $15018138.00  | 0.09%             | 2039-01-20      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                   | CUSIP: 61747YFU4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      3160000 | PA      | $3154629.07   | 0.02%             | 2030-10-18      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                               | Regional Management Issuance Trust 2022-1                                        | CUSIP: 75907DAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       676040 | PA      | $674796.36    | 0.00%             | 2032-03-15      | Fixed         | 3.71%                 | No            |                  2 | On Loan: No      |
| Dilosk RMBS                                                      | Dilosk Rmbs NO 9 Dac                                                             | CUSIP: 000000000<br>LEI: 635400EER3OFDNYI7P30 | Long             | ABS-MBS          | CORP              | IE        |       484235 | PA      | $568607.77    | 0.00%             | 2063-01-25      | Floating      | 2.71%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF TURKIYE                                              | Turkiye Government International Bond                                            | CUSIP: 900123DT4<br>LEI: 5493000PCHOG3B6S3Q85 | Long             | DBT              | NUSS              | TR        |       652000 | PA      | $628674.70    | 0.00%             | 2033-03-14      | Fixed         | 6.30%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                          | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAK1<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |      1306000 | PA      | $1298727.87   | 0.01%             | 2028-09-29      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | FSWP: OIS 8.400000 17-SEP-2026 IBR                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |    956306318 | OU      | $5520.21      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| PRIME SECSRVC BRW/FINANC                                         | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3055000 | PA      | $2995491.35   | 0.02%             | 2027-08-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| KRONOS INTERNATIONAL INC                                         | Kronos International Inc                                                         | CUSIP: 000000000<br>LEI: 529900NTVDLUSYY9F493 | Long             | DBT              | CORP              | US        |      8309000 | PA      | $8957229.61   | 0.05%             | 2029-03-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| NICKEL INDUSTRIES LTD                                            | Nickel Industries Ltd                                                            | CUSIP: 000000000<br>LEI: 54930007K0WX53TSIK16 | Long             | DBT              | CORP              | AU        |      2480000 | PA      | $2570197.60   | 0.02%             | 2030-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-LUNR                                                               | CUSIP: 05594CAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3579996 | PA      | $3586704.75   | 0.02%             | 2040-06-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XXXIII Ltd                                                  | CUSIP: 55819JAN3<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |      4145001 | PA      | $4145008.42   | 0.02%             | 2032-10-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| 522 Funding CLO Ltd                                              | 522 Funding CLO 2020-6 Ltd                                                       | CUSIP: 33835AAY5<br>LEI: 549300HKB0UTKU91DG08 | Long             | ABS-CBDO         | CORP              | KY        |      3010000 | PA      | $3012082.62   | 0.02%             | 2034-10-23      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mortgage Trust                        | Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3                | CUSIP: 06427DAV5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       420000 | PA      | $416185.22    | 0.00%             | 2050-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2020-19 Ltd                                                              | CUSIP: 670881BE0<br>LEI: 254900ZMV4RGFPV8TK42 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $999747.00    | 0.01%             | 2038-04-20      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRUST                                 | Sofi Consumer Loan Program 2026-B Trust                                          | CUSIP: 83407MAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1362000 | PA      | $1360171.92   | 0.01%             | 2036-02-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | BR        |            1 | NC      | $240652.08    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2024-2 DAC                                             | CUSIP: 000000000<br>LEI: 635400WJJIABFKEPEL72 | Long             | ABS-O            | CORP              | IE        |      1584041 | PA      | $1863506.01   | 0.01%             | 2034-10-18      | Floating      | 2.72%                 | No            |                  2 | On Loan: No      |
| AB CarVal Euro CLO                                               | AB Carval Euro CLO II-C DAC                                                      | CUSIP: 000000000<br>LEI: 6354004BYSUDKD9P4215 | Long             | ABS-CBDO         | CORP              | IE        |       730000 | PA      | $866946.23    | 0.01%             | 2037-02-15      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                               | Howard Hughes Corp/The                                                           | CUSIP: 44267DAG2<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |      1829000 | PA      | $1789480.80   | 0.01%             | 2032-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Planet Fitness Master Issuer LLC                                 | Planet Fitness Master Issuer LLC                                                 | CUSIP: 72703PAJ2<br>LEI: 549300NX9W3U2DO53T22 | Long             | ABS-O            | CORP              | US        |      4952000 | PA      | $4915703.33   | 0.03%             | 2055-12-06      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| LYB INTERNATIONAL FINANC                                         | LYB International Finance II BV                                                  | CUSIP: 50247WAB3<br>LEI: 549300ZSNDBYN4Z4VZ93 | Long             | DBT              | CORP              | NL        |      2200000 | PA      | $2183123.16   | 0.01%             | 2027-03-02      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust                                     | WinWater Mortgage Loan Trust 2015-2                                              | CUSIP: 97652UAC4<br>LEI: 549300PWVP7DMQC42S40 | Long             | ABS-MBS          | CORP              | US        |       143026 | PA      | $132299.60    | 0.00%             | 2045-02-20      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| GAMMA Sociedade de Titularizacao de Creditos                     | GAMMA Sociedade de Titularizacao de Creditos SA Consumer Totta 3                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |       166826 | PA      | $195603.90    | 0.00%             | 2035-10-25      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                                              | BWAY 2013-1515 Mortgage Trust                                                    | CUSIP: 05604FAN5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1600000 | PA      | $1440926.40   | 0.01%             | 2033-03-10      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Meridian Funding 2025-1 PLC                                      | Meridian Funding 2025-1 PLC                                                      | CUSIP: 000000000<br>LEI: 6354007VNVP2YBYBAX64 | Long             | ABS-MBS          | CORP              | GB        |       559000 | PA      | $757688.73    | 0.00%             | 2068-02-20      | Floating      | 6.99%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |        84000 | PA      | $84146.16     | 0.00%             | 2029-09-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| NANSHAN LIFE PTE LTD                                             | Nanshan Life Pte Ltd                                                             | CUSIP: 000000000<br>LEI: 2138006QCWSN6N7E1140 | Long             | DBT              | CORP              | SG        |      2995000 | PA      | $2940071.70   | 0.02%             | 2041-03-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| BCP MODULAR SERVICES                                             | BCP V Modular Services Finance II PLC                                            | CUSIP: 000000000<br>LEI: 213800227GGD6UI7PI97 | Long             | DBT              | CORP              | GB        |     14691000 | PA      | $15115907.62  | 0.09%             | 2031-07-10      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LENZING AG                                                       | Lenzing AG                                                                       | CUSIP: 000000000<br>LEI: 529900BKFJBI0QRDJH63 | Long             | DBT              | CORP              | AT        |      4800000 | PA      | $5629631.37   | 0.03%             | 2028-04-09      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-1                                                | CUSIP: 92540EAA1<br>LEI: 984500A3F1D749452747 | Long             | ABS-MBS          | CORP              | US        |      3828791 | PA      | $3840020.38   | 0.02%             | 2069-01-25      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                    | CUSIP: 893647BU0<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |        95000 | PA      | $96895.73     | 0.00%             | 2029-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Consumo Santander                                                | Santander Consumo 8 Fondo de Titulizacion                                        | CUSIP: 000000000<br>LEI: 529900MNYVA8N0FZJK96 | Long             | ABS-O            | CORP              | ES        |       200000 | PA      | $235346.34    | 0.00%             | 2040-01-21      | Floating      | 3.70%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                                         | Perrigo Finance Unlimited Co                                                     | CUSIP: 71429MAC9<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |      1637000 | PA      | $1552652.43   | 0.01%             | 2030-06-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: —       |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD THB                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-7034.52     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2024-38 Ltd                                                              | CUSIP: 67120KAE9<br>LEI: 25490028U8Y2XMZWXO46 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3013431.90   | 0.02%             | 2038-01-21      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Mila B.V.                                                        | Mila 2025-1 BV                                                                   | CUSIP: 000000000<br>LEI: 72450098VTA940FX5997 | Long             | ABS-O            | CORP              | NL        |       300000 | PA      | $351015.03    | 0.00%             | 2042-10-12      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2024-III Ltd                                                        | CUSIP: 12575WAA7<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5005710.50   | 0.03%             | 2037-07-21      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                                                   | CVR Energy Inc                                                                   | CUSIP: 12662PAH1<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |       518000 | PA      | $524590.51    | 0.00%             | 2031-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| REPUBLIC OF NIGERIA                                              | Nigeria Government International Bond                                            | CUSIP: 65412AFG2<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |      3948000 | PA      | $4352670.00   | 0.03%             | 2046-01-13      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| AREAS WORLDWIDE SA                                               | Areas Worldwide SA 2025 EUR Repriced Term Loan B                                 | CUSIP: 000000000<br>LEI: 5493003QHT6ZHQO67865 | Long             | LON              | CORP              | FR        |      4133334 | PA      | $4780599.88   | 0.03%             | 2029-12-31      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| CYPRIUM CORP/CYPRIUM HOL                                         | Cyprium Corp / Cyprium Holdings Luxembourg Sarl                                  | CUSIP: 23292NAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      1814000 | PA      | $1811697.22   | 0.01%             | 2034-04-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| CELANESE US HOLDINGS LLC                                         | Celanese US Holdings LLC                                                         | CUSIP: 15089QAP9<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |      3688000 | PA      | $3908476.02   | 0.02%             | 2032-07-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Oak Hill Credit Partners                                         | OHA Credit Funding 3 LTD                                                         | CUSIP: 67112RBC7<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $751654.20    | 0.00%             | 2038-01-20      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                      | FSWP: OIS 5.240000 18-MAR-2036 CLI                                               | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |    372427144 | OU      | $-1705.09     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                         | Celanese US Holdings LLC                                                         | CUSIP: 15089QBC7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |      1302000 | PA      | $1354728.40   | 0.01%             | 2031-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 80 CLO Ltd                                                                | CUSIP: 26245JBE7<br>LEI: 549300KI3ILQQHC87U86 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1499575.35   | 0.01%             | 2033-01-17      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-7                                                | CUSIP: 924931AK4<br>LEI: 213800OVCAXDOBS94P47 | Long             | ABS-MBS          | CORP              | US        |      1414000 | PA      | $1403907.01   | 0.01%             | 2070-08-25      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                                           | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 00489LAL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3440000 | PA      | $3493401.15   | 0.02%             | 2030-11-06      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                               | Dominican Republic International Bond                                            | CUSIP: 25714PFA1<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |    389700000 | PA      | $7005606.67   | 0.04%             | 2036-06-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| MONGOLIA INTL BOND                                               | Mongolia Government International Bond                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | NUSS              | MN        |      1368000 | PA      | $1406304.00   | 0.01%             | 2030-02-25      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED PEN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | PE        |            1 | NC      | $76398.62     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SS&C TECHNOLOGIES INC                                            | SS&C Technologies Inc                                                            | CUSIP: 78466CAD8<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |       423000 | PA      | $428005.21    | 0.00%             | 2032-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: OIS 6.116000 18-DEC-2029 INR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    560722205 | OU      | $-54191.57    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 6.905000 11-SEP-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |   1300569287 | OU      | $-86085.15    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2019-INV1 Trust                                                              | CUSIP: 67098AAC3<br>LEI: 25490010LUJWFEUCIH44 | Long             | ABS-MBS          | CORP              | US        |       224278 | PA      | $215337.79    | 0.00%             | 2048-11-25      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| Trimaran CAVU Ltd                                                | Trimaran CAVU 2022-1 Ltd                                                         | CUSIP: 89623VAL5<br>LEI: 549300UZ4DECMUVOVS09 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $4008103.60   | 0.02%             | 2037-10-22      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| BIFFA GROUP HOLDINGS LTD                                         | Biffa Group Holdings Ltd                                                         | CUSIP: 000000000<br>LEI: 21380012LWLXNMXB8I44 | Long             | DBT              | CORP              | JE        |     15589000 | PA      | $18071676.91  | 0.11%             | 2031-06-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2025-2                                                  | CUSIP: 03466QAA1<br>LEI: 254900DKH168ZWJSMI96 | Long             | ABS-MBS          | CORP              | US        |      3647375 | PA      | $3668651.62   | 0.02%             | 2070-02-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 29 Ltd                                               | Elmwood CLO 29 Ltd                                                               | CUSIP: 29004HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1463324.85   | 0.01%             | 2037-04-20      | Floating      | 10.08%                | No            |                  2 | On Loan: No      |
| ADT SEC CORP                                                     | ADT Security Corp/The                                                            | CUSIP: 00109LAA1<br>LEI: 5493009JEEDYLVRA0J13 | Long             | DBT              | CORP              | US        |      2530000 | PA      | $2433132.73   | 0.01%             | 2029-08-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| RENAULT SA                                                       | Renault SA                                                                       | CUSIP: 000000000<br>LEI: 969500F7JLTX36OUI695 | Long             | DBT              | CORP              | FR        |      3700000 | PA      | $4316713.02   | 0.03%             | 2030-09-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                         | Foundation Finance Trust 2025-3                                                  | CUSIP: 35042TAC6<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |      4703000 | PA      | $4652704.71   | 0.03%             | 2052-08-15      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                                                 | Lamar Media Corp                                                                 | CUSIP: 513075BW0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3879000 | PA      | $3851409.06   | 0.02%             | 2029-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 5.760000 18-MAR-2028 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    396152044 | OU      | $-13509.66    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GRUPPO SAN DONATO SPA                                            | Gruppo San Donato SPA                                                            | CUSIP: 000000000<br>LEI: 8156003649DB0704FC22 | Long             | DBT              | CORP              | IT        |     12092000 | PA      | $14174032.30  | 0.08%             | 2031-10-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Hive BV                                                          | HIVE 2025-1 BV                                                                   | CUSIP: 000000000<br>LEI: 724500W27MWLGM594D53 | Long             | ABS-O            | CORP              | NL        |       592660 | PA      | $697541.18    | 0.00%             | 2045-11-21      | Floating      | 3.35%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                                           | Mosaic Solar Loan Trust 2018-1                                                   | CUSIP: 61946FAA3<br>LEI: 549300ZLA8SW2SVJMN33 | Long             | ABS-O            | CORP              | US        |        31301 | PA      | $29439.84     | 0.00%             | 2043-06-22      | Fixed         | 4.01%                 | No            |                  2 | On Loan: No      |
| ABC SUPPLY CO INC                                                | American Builders & Contractors Supply Co Inc                                    | CUSIP: 024747AG2<br>LEI: 549300H5GQ4C1BEKG397 | Long             | DBT              | CORP              | US        |      1535000 | PA      | $1464902.38   | 0.01%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| Home Owner Mortgage Enhanced Securuties Limited                  | HOMES 2025-AFC1 Trust                                                            | CUSIP: 403969AF5<br>LEI: 2549006ZK3R8WZLA9S73 | Long             | ABS-MBS          | CORP              | US        |      2285714 | PA      | $2295182.80   | 0.01%             | 2060-01-25      | Variable      | 6.39%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                           | Venture Global LNG Inc                                                           | CUSIP: 92332YAE1<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      1589000 | PA      | $1634489.89   | 0.01%             | 2030-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VTR Commercial Mortgage Trust                                    | VTR Commercial Mortgage Trust 2025-STEM                                          | CUSIP: 92890YAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11426000 | PA      | $11346417.91  | 0.07%             | 2039-10-13      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED AUD / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | AU        |            1 | NC      | $3837.08      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman Loan Advisers Clo 51 Ltd                                        | CUSIP: 64135BBC2<br>LEI: 549300E2R8NH2QE50368 | Long             | ABS-CBDO         | CORP              | JE        |      1500000 | PA      | $1496517.30   | 0.01%             | 2036-10-23      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 8.234000 10-JAN-2036 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     14070503 | OU      | $-1338.69     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                           | Adient Global Holdings Ltd                                                       | CUSIP: 00687YAB1<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |       923000 | PA      | $939060.20    | 0.01%             | 2028-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust                                     | WinWater Mortgage Loan Trust 2014-2                                              | CUSIP: 97652QAA7<br>LEI: 549300PWVP7DMQC42S40 | Long             | ABS-MBS          | CORP              | US        |        91422 | PA      | $88414.44     | 0.00%             | 2044-09-20      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP                                           | HA Sustainable Infrastructure Capital Inc                                        | CUSIP: 41068XAG5<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |      2166000 | PA      | $2299209.00   | 0.01%             | 2056-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                                                       | Terex Corp                                                                       | CUSIP: 880779BB8<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |       595000 | PA      | $604738.37    | 0.00%             | 2032-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Q-PARK HOLDING I BV                                              | Q-Park Holding I BV                                                              | CUSIP: 000000000<br>LEI: 2549003839B7HE3NDP48 | Long             | DBT              | CORP              | NL        |      1229000 | PA      | $1462099.57   | 0.01%             | 2029-03-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| E-CARAT                                                          | ECARAT DE SA Compartment 2025-2                                                  | CUSIP: 000000000<br>LEI: 213800ETWMJRFLJ8U337 | Long             | ABS-O            | CORP              | LU        |       100000 | PA      | $117465.79    | 0.00%             | 2037-02-25      | Floating      | 2.99%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance Issuance Trust 2025-A                                            | CUSIP: 567920AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5732000 | PA      | $5764265.43   | 0.03%             | 2038-05-20      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XXXVII Ltd                                                  | CUSIP: 55817EBC9<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |       500000 | PA      | $493404.40    | 0.00%             | 2037-04-15      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2024-RPL2                                    | CUSIP: 36269MAA9<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |       810559 | PA      | $791277.13    | 0.00%             | 2061-07-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                     | Fibercop SpA                                                                     | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |      8600000 | PA      | $10226633.64  | 0.06%             | 2031-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Miltonia Mortgage Finance                                        | Miltonia Mortgage Finance Srl                                                    | CUSIP: 000000000<br>LEI: 815600BC278905BA4594 | Long             | ABS-MBS          | CORP              | IT        |       200000 | PA      | $235060.91    | 0.00%             | 2062-04-28      | Floating      | 3.34%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2024-NQM2                                    | CUSIP: 64832BAC9<br>LEI: 213800Z6O4V4V96AU133 | Long             | ABS-MBS          | CORP              | US        |      4948405 | PA      | $4935114.07   | 0.03%             | 2064-09-25      | Variable      | 5.12%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                               | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |    126606570 | OU      | $-420430.00   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Hilton USA Trust                                                 | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL                                          | CUSIP: 403956AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3100000 | PA      | $3100000.00   | 0.02%             | 2037-05-15      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| Liberty Funding Pty Limited                                      | Liberty Series 2024-1Auto                                                        | CUSIP: 000000000<br>LEI: 984500D43B95D9404428 | Long             | ABS-O            | CORP              | AU        |       183636 | PA      | $132482.22    | 0.00%             | 2032-05-25      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-11                                               | CUSIP: 924935AL3<br>LEI: 213800H1O4C5SRNN4B66 | Long             | ABS-MBS          | CORP              | US        |      1359333 | PA      | $1348607.45   | 0.01%             | 2070-11-25      | Variable      | 6.41%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-5430.96     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Platea BC Bidco AB                                               | Platea BC Bidco AB EUR Term Loan                                                 | CUSIP: 000000000<br>LEI: 254900AWWXX5NUVV4A03 | Long             | LON              | CORP              | SE        |      1666667 | PA      | $1971574.99   | 0.01%             | 2031-04-03      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED CZK / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | CZ        |            1 | NC      | $-15803.51    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Arbor Realty Collateralized Loan Obligation Ltd                  | Arbor Realty Collateralized Loan Obligation Ltd                                  | CUSIP: 03881UAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      7424000 | PA      | $7427124.76   | 0.04%             | 2041-01-20      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| VEOLIA ENVIRONNEMENT SA                                          | Veolia Environnement SA                                                          | CUSIP: 000000000<br>LEI: 969500LENY69X51OOT31 | Long             | DBT              | CORP              | FR        |      4500000 | PA      | $5137416.60   | 0.03%             | 2027-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES BV                                          | Sensata Technologies BV                                                          | CUSIP: 81725WAK9<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |       714000 | PA      | $693396.67    | 0.00%             | 2029-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TARKETT PARTICIPATION                                            | Tarkett Participation 2026 EUR Term Loan B                                       | CUSIP: 000000000<br>LEI: 9695009BVDNB65W81L34 | Long             | LON              | CORP              | FR        |            0 | PA      | $0.00         | 0.00%             | 2031-04-22      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| INTRUM INV AND FIN                                               | Intrum Investments And Financing AB                                              | CUSIP: 000000000<br>LEI: 984500D7B1EFD7460452 | Long             | DBT              | CORP              | SE        |      7511062 | PA      | $8859691.25   | 0.05%             | 2027-09-11      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos CLO XXXIX Ltd                                                             | CUSIP: 03766HAQ3<br>LEI: 549300CRPUKFOJKGAT02 | Long             | ABS-CBDO         | CORP              | JE        |       510000 | PA      | $510886.89    | 0.00%             | 2038-10-21      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| HOLDING SOCOTEC                                                  | Holding Socotec 2026 EUR Term Loan B                                             | CUSIP: 000000000<br>LEI: 969500TSHWNDZONA3M83 | Long             | LON              | CORP              | FR        |      1937500 | PA      | $2282473.57   | 0.01%             | 2031-06-02      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2016-NINE                 | CUSIP: 46646GAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1180000 | PA      | $1172846.13   | 0.01%             | 2038-09-06      | Variable      | 2.95%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO XXIII Ltd                                            | CUSIP: 08186VAN0<br>LEI: 254900TPMKEES6UQHQ33 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250091.23    | 0.00%             | 2034-04-25      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                            | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAD9<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |      2399000 | PA      | $2489118.89   | 0.01%             | 2029-12-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| DOMINICAN REPUBLIC                                               | Dominican Republic International Bond                                            | CUSIP: 000000000<br>LEI: 254900EHU7Q8FGVPI369 | Long             | DBT              | NUSS              | DO        |     84400000 | PA      | $1517252.25   | 0.01%             | 2036-06-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VBD3<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      8375000 | PA      | $8361391.21   | 0.05%             | 2028-10-30      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | BR        |            1 | NC      | $1113655.99   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BPR Trust                                                        | BPR Commercial Mortgage Trust 2025-STAR                                          | CUSIP: 05619DAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12500000 | PA      | $12360247.50  | 0.07%             | 2042-11-05      | Variable      | 5.11%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.180000 02-JAN-2031 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     59030000 | OU      | $-202166.60   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| College Ave Student Loans                                        | College Ave Student Loans 2021-C LLC                                             | CUSIP: 19424WAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       900025 | PA      | $894342.03    | 0.01%             | 2055-07-26      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                                         | Uruguay Government International Bond                                            | CUSIP: 760942BF8<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |    109401657 | PA      | $3027037.04   | 0.02%             | 2033-07-20      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                         | Service Properties Trust                                                         | CUSIP: 81761LAE2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |      2334000 | PA      | $2395122.79   | 0.01%             | 2032-06-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: —       |
| AGL CLO Ltd.                                                     | AGL CLO 35 Ltd                                                                   | CUSIP: 00852KAA2<br>LEI: 254900LDCU83O7QV9777 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1001848.70   | 0.01%             | 2038-01-21      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                            | Palmer Square CLO 2021-4 Ltd                                                     | CUSIP: 69702EAL9<br>LEI: 254900HTQ89UZTKY6247 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2005326.60   | 0.01%             | 2038-07-15      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                         | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAJ8<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      4497000 | PA      | $4440303.62   | 0.03%             | 2028-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2017-2                                       | CUSIP: 64829KBW9<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |       108821 | PA      | $105099.13    | 0.00%             | 2057-03-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2021-NQM2 Trust                                                              | CUSIP: 670857AC5<br>LEI: 25490010LUJWFEUCIH44 | Long             | ABS-MBS          | CORP              | US        |      2256987 | PA      | $1879721.70   | 0.01%             | 2061-05-25      | Variable      | 1.56%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                                             | Amentum Holdings Inc                                                             | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |      1426000 | PA      | $1476066.53   | 0.01%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| BOELS TOPHOLDING BV                                              | Boels Topholding BV                                                              | CUSIP: 000000000<br>LEI: 724500V913SEHSEW2O75 | Long             | DBT              | CORP              | NL        |      8865000 | PA      | $10564724.48  | 0.06%             | 2030-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                      | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DE               |  | US        |     30372757 | OU      | $473134.23    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GC TREASURY CENTRE CO                                            | GC Treasury Center Co Ltd                                                        | CUSIP: 000000000<br>LEI: 549300LUFQBC2EQNAR40 | Long             | DBT              | CORP              | TH        |      3205000 | PA      | $3148912.50   | 0.02%             | 2035-03-10      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| RENEW TREAS IFSC PVT LTD                                         | Renew Treasury Ifsc Pvt Ltd                                                      | CUSIP: 000000000<br>LEI: 335800IK4XWJ5637BW61 | Long             | DBT              | CORP              | IN        |      1600000 | PA      | $1590880.00   | 0.01%             | 2031-02-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                            | Wells Fargo Commercial Mortgage Trust 2016-C37                                   | CUSIP: 95000PAG9<br>LEI: 549300TRQQDPEF728F16 | Long             | ABS-MBS          | CORP              | US        |       440000 | PA      | $436895.40    | 0.00%             | 2049-12-15      | Variable      | 4.16%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                      | FIGRE Trust 2026-HE1                                                             | CUSIP: 30249NAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4644122 | PA      | $4602961.75   | 0.03%             | 2056-01-25      | Variable      | 4.98%                 | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                                           | Republic of Poland Government Bond                                               | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     20074000 | PA      | $5192876.54   | 0.03%             | 2031-07-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | Ellington Financial Mortgage Trust 2022-3                                        | CUSIP: 31573EAA9<br>LEI: 254900UDLJF220C8I638 | Long             | ABS-MBS          | CORP              | US        |      4723324 | PA      | $4708947.70   | 0.03%             | 2067-08-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2025-4 Mortgage Loan Trust                                                  | CUSIP: 12674HAA0<br>LEI: 2138002WIT3BHLQD3E93 | Long             | ABS-MBS          | CORP              | US        |      9738627 | PA      | $9823708.07   | 0.06%             | 2070-04-25      | Variable      | 5.79%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                      | Rad CLO 6 Ltd                                                                    | CUSIP: 75010KAC9<br>LEI: 254900F50S9DCHTOVI65 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3006082.20   | 0.02%             | 2037-10-20      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Issuer Trust 2024-2                                    | CUSIP: 39571XAG9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3474634 | PA      | $3509412.37   | 0.02%             | 2059-10-27      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| HEIMSTADEN BOSTAD AB                                             | Heimstaden Bostad AB                                                             | CUSIP: 000000000<br>LEI: 549300TJR3PR8EXILG79 | Long             | DBT              | CORP              | SE        |      3397000 | PA      | $3934730.79   | 0.02%             | 2026-10-13      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                                        | BPR 2023-STON Mortgage Trust                                                     | CUSIP: 05593GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5250000 | PA      | $5401318.65   | 0.03%             | 2039-12-05      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| UNITI SERVICES LLC                                               | Uniti Services LLC                                                               | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |      3272000 | PA      | $3444944.83   | 0.02%             | 2033-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                           | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |      3606000 | PA      | $3853249.00   | 0.02%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| Ellington Financial Mortgage Trust                               | Ellington Financial Mortgage Trust 2022-4                                        | CUSIP: 268432AF8<br>LEI: 254900UDLJF220C8I638 | Long             | ABS-MBS          | CORP              | US        |       837000 | PA      | $829291.90    | 0.00%             | 2067-09-25      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| Winchester PLC                                                   | Winchester 1 PLC                                                                 | CUSIP: 000000000<br>LEI: 213800AWJGG72JJNBW66 | Long             | ABS-MBS          | CORP              | GB        |       621922 | PA      | $847867.69    | 0.01%             | 2056-10-21      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| PETSMART LLC/PETSMART FI                                         | PetSmart LLC / PetSmart Finance Corp                                             | CUSIP: 71677KAD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8074000 | PA      | $8155353.62   | 0.05%             | 2033-09-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2020-18 Ltd                                                              | CUSIP: 671078AW3<br>LEI: 254900MN6N176YEZLX15 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250546.33    | 0.00%             | 2037-07-20      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | USD P COP C @3520.00 EO                                                          | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |     -8898500 | OU      | $-177.97      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Unity-Peace Park CLO, Ltd.                                       | Unity-Peace Park CLO Ltd                                                         | CUSIP: 913318AU5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |      3000000 | PA      | $2954808.00   | 0.02%             | 2035-04-20      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| The BAHA Trust                                                   | BAHA Trust 2024-MAR                                                              | CUSIP: 05493XAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2000000 | PA      | $2094408.20   | 0.01%             | 2041-12-10      | Variable      | 9.20%                 | No            |                  2 | On Loan: No      |
| Silk Finance                                                     | TAGUS - Sociedade de Titularizacao de Creditos SA/Silk Finance No 6              | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |       100000 | PA      | $117947.45    | 0.00%             | 2039-12-25      | Floating      | 3.83%                 | No            |                  2 | On Loan: No      |
| CYPRIUM CORP/CYPRIUM HOL                                         | Cyprium Corp / Cyprium Holdings Luxembourg Sarl                                  | CUSIP: 23292NAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      1848000 | PA      | $1860758.59   | 0.01%             | 2031-04-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                           | Match Group Holdings II LLC                                                      | CUSIP: 57665RAG1<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |      1594000 | PA      | $1589012.85   | 0.01%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALLY FINANCIAL INC                                               | Ally Financial Inc                                                               | CUSIP: 02005NBY5<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |      2286000 | PA      | $2251067.57   | 0.01%             | 2040-01-17      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                          | United Rentals North America Inc                                                 | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |      3083000 | PA      | $2861518.82   | 0.02%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LOXAM SAS                                                        | Loxam SAS                                                                        | CUSIP: 000000000<br>LEI: 969500BNA2YRNE1R5K91 | Long             | DBT              | CORP              | FR        |      5403600 | PA      | $6520485.70   | 0.04%             | 2029-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                                   | Wynn Macau Ltd                                                                   | CUSIP: 000000000<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |      2500000 | PA      | $2485346.25   | 0.01%             | 2028-08-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| OHS Issuer LLC                                                   | OHS Issuer LLC                                                                   | CUSIP: 67115SAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7190995 | PA      | $7062141.01   | 0.04%             | 2061-02-25      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| Navient Education Loan Trust                                     | Navient Education Loan Trust 2026-A                                              | CUSIP: 63943MAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       583000 | PA      | $579962.34    | 0.00%             | 2056-09-15      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                         | Univision Communications Inc                                                     | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |      3158000 | PA      | $3268049.98   | 0.02%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Kennedy Lewis CLO Ltd                                            | Kennedy Lewis CLO 4 Ltd                                                          | CUSIP: 37148BAC4<br>LEI: 549300HNXZUJB12SQJ60 | Long             | ABS-CBDO         | CORP              | KY        |      8125000 | PA      | $8134494.88   | 0.05%             | 2037-07-20      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2024-NQM2 Trust                                                              | CUSIP: 58004JAA0<br>LEI: 254900MMVXALAH2X8D73 | Long             | ABS-MBS          | CORP              | US        |      4045282 | PA      | $4050275.27   | 0.02%             | 2069-08-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| TK Elevator Midco GmbH                                           | TK Elevator Midco GmbH 2025 EUR Term Loan B1                                     | CUSIP: 000000000<br>LEI: 254900K869UN2ZWVB351 | Long             | LON              | CORP              | DE        |      4900000 | PA      | $5763190.36   | 0.03%             | 2030-04-30      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| MTP ABS FUNDING LLC                                              | Mtp Abs Funding LLC                                                              | CUSIP: 55378HAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1410000 | PA      | $1416223.82   | 0.01%             | 2056-04-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                        | Sunoco LP                                                                        | CUSIP: 86765KAK5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |      4840000 | PA      | $4707112.96   | 0.03%             | 2030-05-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.784500 16-JAN-2031 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     48419279 | OU      | $-4388.15     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ALA Trust                                                        | ALA Trust 2025-OANA                                                              | CUSIP: 009920AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7577000 | PA      | $7605413.75   | 0.05%             | 2040-06-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRUST                                 | Sofi Consumer Loan Program 2026-B Trust                                          | CUSIP: 83407MAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     16657000 | PA      | $16655532.52  | 0.10%             | 2036-02-25      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Hermitage Plc                                                    | Hermitage 2024 PLC                                                               | CUSIP: 000000000<br>LEI: 635400OUUMGTAI2EJA52 | Long             | ABS-O            | CORP              | GB        |        39253 | PA      | $53635.47     | 0.00%             | 2033-04-21      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                               | Howard Hughes Corp/The                                                           | CUSIP: 44267DAE7<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |      2893000 | PA      | $2785529.97   | 0.02%             | 2029-02-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| APLD COMPUTECO 2 LLC                                             | APLD ComputeCo 2 LLC                                                             | CUSIP: 03772CAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5880000 | PA      | $5821524.87   | 0.03%             | 2031-03-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                      | PRKCM 2025-AFC1 Trust                                                            | CUSIP: 69392YAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2843709 | PA      | $2833197.56   | 0.02%             | 2060-10-25      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2020-D                                 | CUSIP: 63941HAB8<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |       100000 | PA      | $88478.08     | 0.00%             | 2069-05-15      | Fixed         | 3.33%                 | No            |                  2 | On Loan: No      |
| Together Asset Backed Securitisation                             | Together Asset Backed Securitisation 2025-2nd1 PLC                               | CUSIP: 000000000<br>LEI: 635400YLGUIWG9EKBV27 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $136664.31    | 0.00%             | 2056-09-12      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2025-1                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |       194000 | PA      | $264334.97    | 0.00%             | 2033-04-15      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| OI EUROPEAN GROUP BV                                             | OI European Group BV                                                             | CUSIP: 67777LAD5<br>LEI: 72450053F5WRDY8CDZ66 | Long             | DBT              | CORP              | NL        |       187000 | PA      | $173622.99    | 0.00%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 76 CLO Ltd                                                                | CUSIP: 26252WBE8<br>LEI: 549300KI3ILQQHC87U86 | Long             | ABS-CBDO         | CORP              | KY        |     15250000 | PA      | $15280557.95  | 0.09%             | 2037-10-15      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                                            | TRK 2022-INV2 Trust                                                              | CUSIP: 87265XAC8<br>LEI: 25490023B58UP9CM5N96 | Long             | ABS-MBS          | CORP              | US        |      1274364 | PA      | $1232665.09   | 0.01%             | 2057-06-25      | Variable      | 4.34%                 | No            |                  2 | On Loan: No      |
| PROGROUP AG                                                      | Progroup AG                                                                      | CUSIP: 000000000<br>LEI: 529900YI5W5TQ8F2FP82 | Long             | DBT              | CORP              | DE        |     15982000 | PA      | $18871777.35  | 0.11%             | 2031-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                           | Sequoia Mortgage Trust 2024-INV1                                                 | CUSIP: 816939AC6<br>LEI: 549300671OK77JNRLK28 | Long             | ABS-MBS          | CORP              | US        |      4032110 | PA      | $4018207.41   | 0.02%             | 2054-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| CLARIANE SE                                                      | Clariane SE                                                                      | CUSIP: 000000000<br>LEI: 969500WEPS61H6TJM037 | Long             | DBT              | CORP              | FR        |      5141000 | PA      | $6109003.44   | 0.04%             | 2031-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Sage AR Funding 2025 No 1 Plc                                    | Sage AR Funding                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |       378710 | PA      | $513615.38    | 0.00%             | 2037-05-17      | Floating      | 6.15%                 | No            |                  2 | On Loan: No      |
| PHILIPPINE GOVERNMENT                                            | Philippine Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |   1934650000 | PA      | $30461436.39  | 0.18%             | 2030-08-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                        | CIM Trust 2025-I1                                                                | CUSIP: 12571DAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3560870 | PA      | $3580976.10   | 0.02%             | 2069-10-25      | Variable      | 6.44%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                         | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       250000 | PA      | $261470.00    | 0.00%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SNAP INC                                                         | Snap Inc                                                                         | CUSIP: 83304AAM8<br>LEI: 549300JNC0L6VP8A2Q35 | Long             | DBT              | CORP              | US        |      4717000 | PA      | $4565453.50   | 0.03%             | 2034-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| BRIGHTSTAR LOTTERY PLC                                           | Brightstar Lottery PLC                                                           | CUSIP: 460599AE3<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |      2899000 | PA      | $2886521.83   | 0.02%             | 2029-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                             | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DE               |  | US        |     65169689 | OU      | $997536.41    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Elmwood CLO III Ltd                                              | Elmwood CLO III Ltd                                                              | CUSIP: 29002HAW9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      9500000 | PA      | $9511849.35   | 0.06%             | 2037-07-18      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO Ltd                                                | Park Blue CLO 2023-IV Ltd                                                        | CUSIP: 699917AS9<br>LEI: 213800XCIR4Y5GCOQX50 | Long             | ABS-CBDO         | CORP              | JE        |      2500000 | PA      | $2505711.50   | 0.01%             | 2039-01-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| NEXTDC LTD                                                       | NEXTDC Ltd                                                                       | CUSIP: 000000000<br>LEI: 529900RTERU3X7G3D672 | Long             | DBT              | CORP              | AU        |      1960000 | PA      | $1407560.48   | 0.01%             | 2030-04-30      | Floating      | 7.87%                 | No            |                  2 | On Loan: No      |
| Hermitage Plc                                                    | Hermitage 2025 PLC                                                               | CUSIP: 000000000<br>LEI: 635400MSBHAPT1EQBW93 | Long             | ABS-O            | CORP              | GB        |       288580 | PA      | $392344.61    | 0.00%             | 2033-04-21      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| ALPHA GENERATION LLC                                             | Alpha Generation LLC                                                             | CUSIP: 02073LAC5<br>LEI: 254900K5V62L4YGVKF49 | Long             | DBT              | CORP              | US        |      1969000 | PA      | $1955541.10   | 0.01%             | 2034-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Diameter Capital CLO                                             | Diameter Capital Clo 2 Ltd                                                       | CUSIP: 25255LAS1<br>LEI: 2549008BUJNKS7JJUU65 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3006404.10   | 0.02%             | 2037-10-15      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| New Mountain CLO Ltd                                             | New Mountain CLO 2 Ltd                                                           | CUSIP: 64754LAL1<br>LEI: 549300CEYMYPINCEX579 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3007606.80   | 0.02%             | 2038-01-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2017-14 Ltd                                                              | CUSIP: 67097QAS4<br>LEI: 25490025Q5WQX513IQ05 | Long             | ABS-CBDO         | CORP              | KY        |       680000 | PA      | $683003.42    | 0.00%             | 2037-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                                     | Barclays Mortgage Loan Trust 2025-NQM5                                           | CUSIP: 06745XAM6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15418635 | PA      | $15330888.12  | 0.09%             | 2055-10-25      | Variable      | 5.14%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                                          | Global Partners LP / GLP Finance Corp                                            | CUSIP: 37954FAL8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       984000 | PA      | $1008441.66   | 0.01%             | 2033-07-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED                                            | Vale Overseas Ltd                                                                | CUSIP: 91911TAS2<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |       304000 | PA      | $311220.00    | 0.00%             | 2054-06-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: —       |
| SK HYNIX INC                                                     | SK hynix Inc                                                                     | CUSIP: 000000000<br>LEI: 988400XAIK6XISWQV045 | Long             | DBT              | CORP              | KR        |      1204000 | PA      | $1243274.48   | 0.01%             | 2028-01-17      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| AT&T INC                                                         | AT&T Inc                                                                         | CUSIP: 00206RKG6<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     10575000 | PA      | $10095963.71  | 0.06%             | 2028-02-01      | Fixed         | 1.65%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | FSWP: OIS 10.595000 18-MAR-2030 IB                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |   3116149745 | OU      | $35555.99     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Secucor Finance                                                  | Secucor Finance 2013-1 DAC                                                       | CUSIP: 000000000<br>LEI: 2138001E8BAK3OXZGG87 | Long             | ABS-O            | CORP              | IE        |       400000 | PA      | $467757.14    | 0.00%             | 2036-09-20      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| Progress Residential Trust                                       | Progress Residential 2026-SFR1 Trust                                             | CUSIP: 74334HAJ3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1795000 | PA      | $1654205.05   | 0.01%             | 2043-02-17      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| Lernen Bidco Limited                                             | Lernen Bidco Limited 2025 EUR Term Loan B3                                       | CUSIP: 000000000<br>LEI: 894500YKKF2CXAP6DR25 | Long             | LON              | CORP              | GB        |      2000000 | PA      | $2310916.23   | 0.01%             | 2029-04-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                     | Voya CLO 2020-2 Ltd                                                              | CUSIP: 92918HAT7<br>LEI: 254900MS3D9HONB0N824 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002598.90   | 0.01%             | 2038-01-20      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| Crown Point CLO Ltd                                              | Crown Point CLO 8 Ltd                                                            | CUSIP: 22846BAJ6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250096.40    | 0.00%             | 2034-10-20      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 14-R Ltd                                                      | CUSIP: 67706QAN8<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002688.00   | 0.01%             | 2038-04-20      | Floating      | 6.58%                 | No            |                  2 | On Loan: No      |
| GVC Holdings (Gibraltar) Limited                                 | GVC Holdings (Gibraltar) Limited 2024 EUR Term Loan B4                           | CUSIP: 000000000<br>LEI: 213800ATWJIEYQ8NF838 | Long             | LON              | CORP              | GI        |       974499 | PA      | $1152629.71   | 0.01%             | 2028-06-30      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2022-NQM3 Trust                                                             | CUSIP: 36168MAC7<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |      4846972 | PA      | $4611086.63   | 0.03%             | 2067-04-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| Japan Housing Finance Agency                                     | Japan Housing Finance Agency/Kiko                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | JP        |     76665000 | PA      | $356007.41    | 0.00%             | 2056-07-10      | Fixed         | 0.36%                 | No            |                  2 | On Loan: No      |
| Together Asset Backed Securitisation                             | Together Asset Backed Securitisation 2025-Cre-1 PLC                              | CUSIP: 000000000<br>LEI: 635400IHLPBPFA2IVG30 | Long             | ABS-MBS          | CORP              | GB        |      1315182 | PA      | $1796891.05   | 0.01%             | 2057-01-15      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | SWP: OIS 14.030000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |      8079225 | OU      | $12097.06     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 6.145000 17-DEC-2027 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1407861067 | OU      | $-22803.88    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS II LLC                                            | QTS Issuer ABS II LLC                                                            | CUSIP: 74690FBE5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3453000 | PA      | $3476694.49   | 0.02%             | 2056-03-06      | Fixed         | 6.18%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                              | Go Daddy Operating Co LLC / GD Finance Co Inc                                    | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1747000 | PA      | $1743446.78   | 0.01%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 13 Ltd                                                        | CUSIP: 67116CAU7<br>LEI: 254900P7TOYX9E9JQ066 | Long             | ABS-CBDO         | CORP              | BM        |      1000000 | PA      | $1005514.60   | 0.01%             | 2037-07-20      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| CHORD ENERGY CORP                                                | Chord Energy Corp                                                                | CUSIP: 674215AQ1<br>LEI: 529900FA4V2YNIKZ0M71 | Long             | DBT              | CORP              | US        |      2086000 | PA      | $2126247.28   | 0.01%             | 2030-10-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-19977.13    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KAPLA HOLDING SAS                                                | Kapla Holding SAS                                                                | CUSIP: 000000000<br>LEI: 894500PJ28XTH66K4X83 | Long             | DBT              | CORP              | FR        |       733000 | PA      | $863975.84    | 0.01%             | 2033-04-30      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO1, LTD                          | GoldenTree Loan Management US CLO 20 Ltd                                         | CUSIP: 38139MAC9<br>LEI: 984500CF2B1A04F63R63 | Long             | ABS-CBDO         | CORP              | JE        |       722000 | PA      | $723048.63    | 0.00%             | 2037-07-20      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| WBI OPERATING LLC                                                | WBI Operating LLC                                                                | CUSIP: 92944BAB7<br>LEI: 254900POBWB4RX0ODY78 | Long             | DBT              | CORP              | US        |       761000 | PA      | $769188.36    | 0.00%             | 2033-10-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                         | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |       635000 | PA      | $604112.57    | 0.00%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited                  | HOMES 2025-AFC4 Trust                                                            | CUSIP: 43762DAA7<br>LEI: 2549001JI3VOZZFMYK81 | Long             | ABS-MBS          | CORP              | US        |      3245230 | PA      | $3243565.24   | 0.02%             | 2060-11-25      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| FEDRIGONI SPA                                                    | Fedrigoni SpA                                                                    | CUSIP: 000000000<br>LEI: 8156004CE82074779D19 | Long             | DBT              | CORP              | IT        |     10647000 | PA      | $12041110.93  | 0.07%             | 2031-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | ARES Loan Funding I Ltd                                                          | CUSIP: 04018XAY5<br>LEI: 549300BC3E2Y44TL8536 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $993382.00    | 0.01%             | 2039-04-15      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: OIS 1.316250 30-MAR-2028 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5561833519 | OU      | $1830.86      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bletchley Park Funding                                           | Bletchley Park Funding 2025-1 PLC                                                | CUSIP: 000000000<br>LEI: 635400OJVL3HJJTKNB05 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $136232.95    | 0.00%             | 2070-01-27      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Red & Black Auto Italy                                           | Red & Black Auto Italy Srl                                                       | CUSIP: 000000000<br>LEI: 8156003B1C9DCDE30892 | Long             | ABS-O            | CORP              | IT        |       613626 | PA      | $722236.37    | 0.00%             | 2036-07-28      | Floating      | 2.78%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                                                 | GGAM Finance Ltd                                                                 | CUSIP: 36170JAC0<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |      2346000 | PA      | $2356730.65   | 0.01%             | 2027-02-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES/ESCR                                         | Windstream Services LLC / Windstream Escrow Finance Corp                         | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      7482000 | PA      | $7913696.44   | 0.05%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 3.914300 17-DEC-2026 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     31171707 | OU      | $-77739.89    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ivory Coast Government International Bonds                       | Ivory Coast Government International Bonds                                       | CUSIP: 000000000<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |       728000 | PA      | $764618.40    | 0.00%             | 2033-01-30      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                                 | Vail Resorts Inc                                                                 | CUSIP: 91879QAP4<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |       216000 | PA      | $220351.54    | 0.00%             | 2032-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2019-A                                 | CUSIP: 63941BAB1<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |         9447 | PA      | $9435.77      | 0.00%             | 2043-01-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| SEVERN TRENT WATER UTIL                                          | Severn Trent Utilities Finance PLC                                               | CUSIP: 000000000<br>LEI: 213800KY9PT6WBH33232 | Long             | DBT              | CORP              | GB        |      2080000 | PA      | $2401839.34   | 0.01%             | 2035-08-04      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| INEOS Quattro Holdings UK Ltd                                    | INEOS Quattro Holdings UK Ltd 2023 EUR 1st Lien Term Loan B                      | CUSIP: 000000000<br>LEI: 213800HKSMBSJQ32CA45 | Long             | LON              | CORP              | GB        |      3000000 | PA      | $3280362.61   | 0.02%             | 2029-04-02      | Floating      | 6.51%                 | No            |                  2 | On Loan: No      |
| WORLDLINE SA/FRANCE                                              | Worldline SA/France                                                              | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | DBT              | CORP              | FR        |      6800000 | PA      | $7078118.50   | 0.04%             | 2029-11-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Edge Finco PLC                                                   | Edge Finco PLC 2025 EUR Term Loan B                                              | CUSIP: 000000000<br>LEI: 648835NI8LJE5190NT73 | Long             | LON              | CORP              | GB        |      1000000 | PA      | $1175116.75   | 0.01%             | 2031-08-22      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Driver UK                                                        | Compartment Driver UK Ten                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | GB        |       500000 | PA      | $681319.22    | 0.00%             | 2033-04-25      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL USA INC                                               | Murphy Oil USA Inc                                                               | CUSIP: 626738AE8<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |       956000 | PA      | $946102.05    | 0.01%             | 2029-09-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2026-NQM1 Trust                                                             | CUSIP: 74391DAJ2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2000000 | PA      | $1978571.20   | 0.01%             | 2071-02-25      | Variable      | 7.01%                 | No            |                  2 | On Loan: No      |
| Centragas                                                        | CENT 2025-CITY                                                                   | CUSIP: 12517TAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7335000 | PA      | $7369087.21   | 0.04%             | 2040-07-10      | Variable      | 5.09%                 | No            |                  2 | On Loan: No      |
| Carlyle Global Market Strategies                                 | CARLYLE US CLO 2023-1 LTD                                                        | CUSIP: 14318RAU2<br>LEI: 549300VC6J79YJCFU884 | Long             | ABS-CBDO         | CORP              | KY        |      1750000 | PA      | $1753864.00   | 0.01%             | 2037-07-20      | Floating      | 6.53%                 | No            |                  2 | On Loan: No      |
| PUMA INTERNATIONAL FINAN                                         | Puma International Financing SA                                                  | CUSIP: 000000000<br>LEI: 222100YFBPO7IDRUBR17 | Long             | DBT              | CORP              | LU        |      1560000 | PA      | $1603680.00   | 0.01%             | 2029-04-25      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                         | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AL9<br>LEI: N/A                  | Long             | DBT              |  | US        |        50000 | PA      | $51500.65     | 0.00%             | 2033-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| AMERICAN NATIONAL GROUP                                          | American National Group Inc                                                      | CUSIP: 025676AR8<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |      3400000 | PA      | $3322577.92   | 0.02%             | 2055-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| 1345 Trust                                                       | 1345T 2025-AOA                                                                   | CUSIP: 68271CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13575000 | PA      | $13575000.00  | 0.08%             | 2042-06-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                | SHORT EURO-BTP FU JUN26                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |          622 | NC      | $-455471.23   | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| BRES Commercial Mortgage Trust                                   | BRES Commercial Mortgage Trust 2025-ATCAP                                        | CUSIP: 05619GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6581000 | PA      | $6571221.95   | 0.04%             | 2042-11-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                                | Rakuten Group Inc                                                                | CUSIP: 75102WAM0<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |      5937000 | PA      | $6064773.50   | 0.04%             | 2029-12-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XXXVI Ltd                                                   | CUSIP: 55819PBE8<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $249964.83    | 0.00%             | 2035-04-15      | Floating      | 4.73%                 | No            |                  2 | On Loan: No      |
| Panorama Auto Trust                                              | Panorama Auto Trust 2025-3                                                       | CUSIP: 000000000<br>LEI: 9845007SF7637H412C03 | Long             | ABS-O            | CORP              | AU        |       500000 | PA      | $358848.37    | 0.00%             | 2033-09-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| DOMETIC GROUP AB                                                 | Dometic Group AB                                                                 | CUSIP: 000000000<br>LEI: 549300STIPMK5VSA7Y59 | Long             | DBT              | CORP              | SE        |      9075000 | PA      | $10495292.57  | 0.06%             | 2030-09-11      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Winchester PLC                                                   | Winchester 1 PLC                                                                 | CUSIP: 000000000<br>LEI: 213800AWJGG72JJNBW66 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $136628.12    | 0.00%             | 2056-10-21      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| KIOXIA HOLDINGS CORP                                             | Kioxia Holdings Corp                                                             | CUSIP: 49726JAA6<br>LEI: 35380080RTKRARNH4R73 | Long             | DBT              | CORP              | JP        |      4162000 | PA      | $4286591.34   | 0.03%             | 2030-07-24      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ORSTED A/S                                                       | Orsted AS                                                                        | CUSIP: 000000000<br>LEI: W9NG6WMZIYEU8VEDOG48 | Long             | DBT              | CORP              | DK        |       375000 | PA      | $443963.46    | 0.00%             | 2099-12-31      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                            | Palmer Square CLO 2025-4 Ltd                                                     | CUSIP: 696916AA3<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3007294.20   | 0.02%             | 2038-10-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XXXII Ltd                                                           | CUSIP: 89642QAA7<br>LEI: 254900KN2E57M5580B74 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $973867.50    | 0.01%             | 2038-07-23      | Floating      | 9.47%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AP6<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |      5315000 | PA      | $5388107.83   | 0.03%             | 2029-04-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                          | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |        79000 | PA      | $76763.61     | 0.00%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EMERA INC                                                        | Emera Inc                                                                        | CUSIP: 290876AD3<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | DBT              | CORP              | CA        |      1800000 | PA      | $1801083.60   | 0.01%             | 2076-06-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| VMED O2 UK FINANCING I                                           | Vmed O2 UK Financing I PLC                                                       | CUSIP: 000000000<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |     14547000 | PA      | $16200144.53  | 0.10%             | 2032-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CZK 3.716000 18-MAR-2031 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    149604735 | OU      | $-209935.59   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITE                                         | Perrigo Finance Unlimited Co                                                     | CUSIP: 000000000<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |      2000000 | PA      | $2271146.22   | 0.01%             | 2032-09-30      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                      | 2Y RTP 3.310000 15-OCT-2026                                                      | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |   -284746000 | OU      | $-890163.98   | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman Loan Advisers CLO 30 Ltd                                        | CUSIP: 64132MBN7<br>LEI: 549300WWWM7IDWOVIL36 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1000708.00   | 0.01%             | 2039-01-20      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2018-III Ltd                                                        | CUSIP: 12551YAS2<br>LEI: 635400OB7ZCBUWDQNV87 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3015630.90   | 0.02%             | 2038-10-18      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| SAIF Securitization Trust                                        | SAIF Securitization Trust 2024-CES1                                              | CUSIP: 78436VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2076889 | PA      | $2089769.29   | 0.01%             | 2054-07-25      | Variable      | 5.97%                 | No            |                  2 | On Loan: No      |
| ELDORADO INTL FIN GMBH                                           | Eldorado Intl. Finance GmbH                                                      | CUSIP: 284697AC3<br>LEI: 2549002HQE45WFK9EY03 | Long             | DBT              | CORP              | AT        |      2148000 | PA      | $2199057.96   | 0.01%             | 2032-12-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2024-2                                                    | CUSIP: 52590AAC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2153000 | PA      | $2154883.88   | 0.01%             | 2034-02-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | LendingClub Rated Notes Issuer Trust Series 2025-P2                              | CUSIP: 525949103<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |        80000 | PA      | $202186.00    | 0.00%             | 2045-03-15      | Fixed         | 0.01%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2024-2                                                  | CUSIP: 034942AA0<br>LEI: 254900NLG610771ZLP05 | Long             | ABS-MBS          | CORP              | US        |      1321653 | PA      | $1327792.33   | 0.01%             | 2069-01-25      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| Together Asset Backed Securitisation                             | Together Asset Backed Securitisation 15 2026-1st1 PLC                            | CUSIP: 000000000<br>LEI: 213800M1S49VF6Z2PL63 | Long             | ABS-MBS          | CORP              | GB        |      2496000 | PA      | $3420661.43   | 0.02%             | 2067-03-12      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| CLEAN RENEWABLE POWER                                            | Clean Renewable Power Mauritius Pte Ltd                                          | CUSIP: 000000000<br>LEI: 2138003P9CSDW7P4MT75 | Long             | DBT              | CORP              | MU        |      3307500 | PA      | $3257887.50   | 0.02%             | 2027-03-25      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | FSWP: OIS 4.435000 17-DEC-2027 CLI                                               | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | GB        |  30195775000 | OU      | $242707.82    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Easy Street Mortgage Loan Trust                                  | Easy Street Mortgage Loan Trust 2025-RTL2                                        | CUSIP: 27786YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5681529 | PA      | $5688179.80   | 0.03%             | 2040-10-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED PEN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | PE        |            1 | NC      | $-286363.33   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                   | NRG Energy Inc                                                                   | CUSIP: 629377CW0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |       506000 | PA      | $509912.39    | 0.00%             | 2033-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       566000 | PA      | $570838.73    | 0.00%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GS FINANCE CORP                                                  | GS Finance Corp                                                                  | CUSIP: 40058XL69<br>LEI: 549300FR80KBVO6DRL61 | Long             | SN               | CORP              | US        |     56226000 | PA      | $54887708.75  | 0.33%             | 2031-02-17      | Variable      | 7.35%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                    | CUSIP: 893647BS5<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      1044000 | PA      | $1075951.62   | 0.01%             | 2030-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Italy Buoni Poliennali Del Tesoro                                | Italy Buoni Poliennali Del Tesoro                                                | CUSIP: 000000000<br>LEI: 815600DE60799F5A9309 | Long             | DBT              | NUSS              | IT        |     67542000 | PA      | $78103386.86  | 0.46%             | 2029-03-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| GARFUNKELUX HOLDCO 3 SA                                          | Garfunkelux Holdco 3 SA                                                          | CUSIP: 000000000<br>LEI: 2221007QVSNJV7EWBX69 | Long             | DBT              | CORP              | LU        |      9904000 | PA      | $11677355.97  | 0.07%             | 2028-09-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2022-LTV1                                               | CUSIP: 465976AB4<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       546340 | PA      | $491697.75    | 0.00%             | 2052-07-25      | Variable      | 3.51%                 | No            |                  2 | On Loan: No      |
| Jubilee Place                                                    | Jubilee Place 7 BV                                                               | CUSIP: 000000000<br>LEI: 724500E73QDBSXZ44959 | Long             | ABS-MBS          | CORP              | NL        |      1019014 | PA      | $1195965.18   | 0.01%             | 2062-09-18      | Floating      | 2.88%                 | No            |                  2 | On Loan: No      |
| KLEOPATRA FINCO SARL                                             | Kleopatra Finco Sarl                                                             | CUSIP: 000000000<br>LEI: 222100M6T1N8VIC8M726 | Long             | DBT              | CORP              | LU        |      5810960 | PA      | $5524551.07   | 0.03%             | 2031-01-30      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.316300 18-MAR-2028 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     28697548 | OU      | $34611.05     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Societe Generale SA                                              | PURCHASED JPY / SOLD USD                                                         | CUSIP: 000000000<br>LEI: O2RNE8IBXP4R0TD8PU41 | N/A              | DFE              |  | JP        |            1 | NC      | $14396.56     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                           | PURCHASED USD / SOLD JPY                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $-103825.43   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Fulvia SPV SRL                                                   | Fulvia Spv Srl                                                                   | CUSIP: 000000000<br>LEI: 815600283046823DB425 | Long             | ABS-O            | CORP              | IT        |       654635 | PA      | $768997.89    | 0.00%             | 2041-12-23      | Floating      | 2.81%                 | No            |                  2 | On Loan: No      |
| VZ SECURED FINANCING BV                                          | VZ Secured Financing BV                                                          | CUSIP: 000000000<br>LEI: 549300MG611MYCOWY949 | Long             | DBT              | CORP              | NL        |     24977000 | PA      | $27841338.58  | 0.17%             | 2033-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| HarborView Mortgage Loan Trust                                   | HarborView Mortgage Loan Trust 2007-6                                            | CUSIP: 41165BAA8<br>LEI: 549300SZXFEQICAU3R39 | Long             | ABS-MBS          | CORP              | US        |      1911342 | PA      | $1680155.39   | 0.01%             | 2037-08-19      | Floating      | 3.98%                 | No            |                  2 | On Loan: No      |
| VAR ENERGI ASA                                                   | Var Energi ASA                                                                   | CUSIP: 000000000<br>LEI: 549300LIVN3FFOJN2K47 | Long             | DBT              | CORP              | NO        |      3875000 | PA      | $4513783.34   | 0.03%             | 2086-04-29      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                  | Republic Finance Issuance Trust 2024-A                                           | CUSIP: 76041RAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1801000 | PA      | $1810751.15   | 0.01%             | 2032-08-20      | Fixed         | 6.47%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                                         | iHeartCommunications Inc                                                         | CUSIP: 45174HBJ5<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |      1805000 | PA      | $1808366.33   | 0.01%             | 2029-05-01      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                 | TRESTLES CLO III LTD                                                             | CUSIP: 89532RAE0<br>LEI: 254900TP9ZGKPKCMHR24 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $988795.30    | 0.01%             | 2037-10-20      | Floating      | 9.78%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD COP                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $-112385.05   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | ARES Loan Funding I Ltd                                                          | CUSIP: 04018YAE7<br>LEI: 549300BC3E2Y44TL8536 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $993374.90    | 0.01%             | 2039-04-15      | Floating      | 8.77%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DE               |  | US        |     79709200 | OU      | $1245678.78   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 6.072200 18-MAR-2031 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    227712820 | OU      | $5389.18      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | 2Y RTP 4.500000 16-DEC-2027                                                      | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DIR              |  | US        |   -402864000 | OU      | $-1451490.79  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BELL CANADA                                                      | Bell Telephone Co of Canada or Bell Canada                                       | CUSIP: 0778FPAQ2<br>LEI: 5493000G3EFX9S7TDE29 | Long             | DBT              | CORP              | CA        |      2270000 | PA      | $2355694.77   | 0.01%             | 2055-09-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| GATEGROUP FINANCE LUX SA                                         | gategroup Finance Luxembourg SA                                                  | CUSIP: 000000000<br>LEI: 529900Q1OR7LI4GOGW68 | Long             | DBT              | CORP              | LU        |      8025000 | PA      | $10314006.49  | 0.06%             | 2027-02-28      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                                          | Light & Wonder International Inc                                                 | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |      2808000 | PA      | $2926433.02   | 0.02%             | 2031-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                                           | Canyon CLO 2018-1 Ltd                                                            | CUSIP: 13877BAA6<br>LEI: 2549001KZI4SL4Y7BH27 | Long             | ABS-CBDO         | CORP              | KY        |       153805 | PA      | $153807.09    | 0.00%             | 2031-07-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Issuer Trust 2025-2                                    | CUSIP: 39571VAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       547000 | PA      | $544375.17    | 0.00%             | 2060-06-25      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| Iskandar Enterprise LLC                                          | Iskandar Enterprise LLC                                                          | CUSIP: 464338AC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6335000 | PA      | $6335000.00   | 0.04%             | 2056-04-17      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                                   | Whirlpool Corp                                                                   | CUSIP: 963320BD7<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |      1585000 | PA      | $1554304.89   | 0.01%             | 2030-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HMM23<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4406305 | PA      | $4470168.85   | 0.03%             | 2055-05-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| JP MORGAN CHASE BANK                                             | AUD P USD C @0.708000 EO                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | LU        |     20067000 | OU      | $4131.91      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust                                     | WinWater Mortgage Loan Trust 2015-2                                              | CUSIP: 97652UAL4<br>LEI: 549300PWVP7DMQC42S40 | Long             | ABS-MBS          | CORP              | US        |       357564 | PA      | $332675.37    | 0.00%             | 2045-02-20      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| AETHON UN/AETHIN UN FIN                                          | Aethon United BR LP / Aethon United Finance Corp                                 | CUSIP: 00810GAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3359000 | PA      | $3509137.22   | 0.02%             | 2029-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                            | Quikrete Holdings Inc                                                            | CUSIP: 74843PAB6<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |      3987000 | PA      | $4043076.28   | 0.02%             | 2033-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| Dryden Senior Loan Fund                                          | Dryden 53 CLO Ltd                                                                | CUSIP: 26243EAR2<br>LEI: 549300KI3ILQQHC87U86 | Long             | ABS-CBDO         | CORP              | KY        |      1710000 | PA      | $1708704.68   | 0.01%             | 2031-01-15      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Together Asset Backed Securitisation                             | Together Asset Backed Securitisation 2025-Cre-1 PLC                              | CUSIP: 000000000<br>LEI: 635400IHLPBPFA2IVG30 | Long             | ABS-MBS          | CORP              | GB        |       182000 | PA      | $248975.97    | 0.00%             | 2057-01-15      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2026-CES1                                    | CUSIP: 36277LAB9<br>LEI: 2549005U12N6A8G3H936 | Long             | ABS-MBS          | CORP              | US        |      1410786 | PA      | $1399508.04   | 0.01%             | 2056-05-25      | Variable      | 5.27%                 | No            |                  2 | On Loan: No      |
| KSL COMMERCIAL MORTGAGE                                          | KSL COMMERCIAL MORTGAGE                                                          | CUSIP: 50116JAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7483000 | PA      | $7480902.59   | 0.04%             | 2042-06-15      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                            | Directv Financing LLC                                                            | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6217000 | PA      | $6331840.42   | 0.04%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                           | Egypt Government International Bond                                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |     16181000 | PA      | $18407807.24  | 0.11%             | 2030-04-16      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL                                                 | Allied Universal Holdco LLC / Allied Universal Finance Corp                      | CUSIP: 019576AF4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1902000 | PA      | $1956875.36   | 0.01%             | 2030-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Hermitage Plc                                                    | Hermitage 2024 PLC                                                               | CUSIP: 000000000<br>LEI: 635400OUUMGTAI2EJA52 | Long             | ABS-O            | CORP              | GB        |        39253 | PA      | $53439.17     | 0.00%             | 2033-04-21      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-R1                                               | CUSIP: 92541AAE0<br>LEI: 213800UBQ9UM61L7TB84 | Long             | ABS-MBS          | CORP              | US        |       583500 | PA      | $578703.75    | 0.00%             | 2065-05-25      | Variable      | 6.40%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                     | Voya CLO 2019-3 Ltd                                                              | CUSIP: 92918FAG9<br>LEI: 254900MS3D9HONB0N824 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $251548.20    | 0.00%             | 2032-10-17      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                               | SWP: OIS 14.580000 04-JAN-2027 BZD                                               | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |      2662199 | OU      | $1139.23      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2024-3 Ltd                                            | CUSIP: 69690EAN9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2200000 | PA      | $2200486.42   | 0.01%             | 2032-08-08      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                             | Westpac Banking Corp                                                             | CUSIP: 000000000<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |      4610000 | PA      | $3173632.62   | 0.02%             | 2045-11-13      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| PFS Financing Corp.                                              | PFS Financing Corp                                                               | CUSIP: 69335PFV2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      8050000 | PA      | $8116869.74   | 0.05%             | 2030-02-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2025-INV4                                                                   | CUSIP: 26846DAK0<br>LEI: 254900KQZEY4W9F3MX66 | Long             | ABS-MBS          | CORP              | US        |      1983051 | PA      | $1959864.77   | 0.01%             | 2070-10-25      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | Ares LXX CLO Ltd                                                                 | CUSIP: 039951AS7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |      5500000 | PA      | $5511411.40   | 0.03%             | 2039-01-25      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| MOTABILITY OPERATIONS GR                                         | Motability Operations Group PLC                                                  | CUSIP: 000000000<br>LEI: AZ3NL8JCZDCNUXFWI720 | Long             | DBT              | CORP              | GB        |      6000000 | PA      | $7173523.87   | 0.04%             | 2030-01-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2023-NQM4 Trust                                                              | CUSIP: 55286LAA0<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |      1724386 | PA      | $1731632.48   | 0.01%             | 2068-12-25      | Variable      | 6.11%                 | No            |                  2 | On Loan: No      |
| SGB-SMIT Midco GmbH                                              | SGB SMIT MIDCO GMBH EUR TERM LOAN B                                              | CUSIP: 000000000<br>LEI: N/A                  | Long             | LON              | CORP              | DE        |      1500000 | PA      | $1769646.60   | 0.01%             | 2033-03-10      | Floating      | 5.89%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 5 Ltd                                                                         | CUSIP: 74979VAM5<br>LEI: 549300213Q1LH7O32902 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1501515.60   | 0.01%             | 2039-07-15      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| MTP ABS FUNDING LLC                                              | Mtp Abs Funding LLC                                                              | CUSIP: 55378HAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6490000 | PA      | $6490000.00   | 0.04%             | 2056-04-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| HLF FIN SARL LLC/HERBALI                                         | HLF Financing Sarl LLC / Herbalife International Inc                             | CUSIP: 40390DAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5553000 | PA      | $5221531.16   | 0.03%             | 2029-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| WYNDHAM HOTELS & RESORTS                                         | Wyndham Hotels & Resorts Inc                                                     | CUSIP: 98311AAE5<br>LEI: 549300FE3MQ4RVXXC673 | Long             | DBT              | CORP              | US        |       265000 | PA      | $262233.19    | 0.00%             | 2033-03-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Five Srl                 | CUSIP: 000000000<br>LEI: 8156006F7517955B5E95 | Long             | ABS-O            | CORP              | IT        |        76755 | PA      | $90715.19     | 0.00%             | 2039-11-15      | Floating      | 4.50%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2021-2                                                  | CUSIP: 03465DAA1<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |      7553252 | PA      | $6551616.12   | 0.04%             | 2066-04-25      | Variable      | 0.99%                 | No            |                  2 | On Loan: No      |
| BXP Trust                                                        | BXP Trust 2021-601L                                                              | CUSIP: 05607TAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $2433601.20   | 0.01%             | 2044-01-15      | Variable      | 2.87%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                                         | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AJ7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1590000 | PA      | $1646802.75   | 0.01%             | 2029-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PHILIPPINE GOVERNMENT                                            | Philippine Government Bond                                                       | CUSIP: 000000000<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |    161000000 | PA      | $2427806.41   | 0.01%             | 2036-02-23      | Fixed         | 5.93%                 | No            |                  2 | On Loan: No      |
| Elstree Funding                                                  | Elstree 2026-1 Mix PLC                                                           | CUSIP: 000000000<br>LEI: 213800GBXBLN9YSO6I96 | Long             | ABS-MBS          | CORP              | GB        |       737000 | PA      | $1003987.73   | 0.01%             | 2066-09-21      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| MOLOSSUS BTL                                                     | Molossus Btl 2025-1 PLC                                                          | CUSIP: 000000000<br>LEI: 635400EK2YUIDKJ84N95 | Long             | ABS-MBS          | CORP              | GB        |      8269342 | PA      | $11262429.92  | 0.07%             | 2063-03-17      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| M&T Bank RV Trust                                                | M&T Bank RV Trust 2026-1                                                         | CUSIP: 551923AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3091001 | PA      | $3046913.03   | 0.02%             | 2046-01-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                                | Lebanon Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |     17986000 | PA      | $4559451.00   | 0.03%             | 2026-11-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pakistan Global Sukuk Programme Co. Ltd.                         | Pakistan Global Sukuk Programme Co. Ltd.                                         | CUSIP: 000000000<br>LEI: 213800X5OY6CVYNY1M70 | Long             | DBT              | NUSS              | PK        |      2173000 | PA      | $2212114.00   | 0.01%             | 2029-01-31      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                                          | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAC9<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |      5359622 | PA      | $5362301.76   | 0.03%             | 2030-03-09      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital CLO 6 Ltd                                                      | CUSIP: 03328QBW0<br>LEI: 54930064GO7DB3TVDY21 | Long             | ABS-CBDO         | CORP              | KY        |      3795000 | PA      | $3805278.00   | 0.02%             | 2038-07-22      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCU5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6741000 | PA      | $6644827.91   | 0.04%             | 2033-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| Goldman Sachs International                                      | PURCHASED USD / SOLD CAD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |            1 | NC      | $-71834.15    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2021-A                                          | CUSIP: 78448YAC5<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |      4603760 | PA      | $4257095.13   | 0.03%             | 2053-01-15      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| Consolidated Communications LLC, Fidium Fiber Finance Holdco LLC | Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC                  | CUSIP: 315961AG7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3544000 | PA      | $3508888.88   | 0.02%             | 2056-03-20      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SRI LANKA                                            | Sri Lanka Government International Bond                                          | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |      1774846 | PA      | $1690132.60   | 0.01%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                     | UBS Group AG                                                                     | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      2200000 | PA      | $2781025.64   | 0.02%             | 2029-03-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2022-3                                    | CUSIP: 92257BAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4082682 | PA      | $4014793.92   | 0.02%             | 2052-06-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO1, LTD                          | Goldentree Loan Management US Clo 11 Ltd                                         | CUSIP: 38138RAJ4<br>LEI: 549300TMEEKUOKVHYV65 | Long             | ABS-CBDO         | CORP              | KY        |       950000 | PA      | $932899.62    | 0.01%             | 2034-10-20      | Floating      | 8.58%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP CLO 2017-14 Ltd                                                              | CUSIP: 67097QAY1<br>LEI: 25490025Q5WQX513IQ05 | Long             | ABS-CBDO         | CORP              | KY        |      1260000 | PA      | $1262958.48   | 0.01%             | 2037-07-20      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                | PURCHASED USD / SOLD IDR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |            1 | NC      | $-9228.39     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROCKET SOFTWARE INC                                              | Rocket Software Inc                                                              | CUSIP: 77314EAB4<br>LEI: 549300PVG26ISP5X1556 | Long             | DBT              | CORP              | US        |      4613000 | PA      | $4590170.72   | 0.03%             | 2028-11-28      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| Verus Securitization Trust                                       | Verus Securitization Trust 2022-3                                                | CUSIP: 92538UAE1<br>LEI: 213800278TKDEXPH6140 | Long             | ABS-MBS          | CORP              | US        |      1334000 | PA      | $1076106.58   | 0.01%             | 2067-02-25      | Variable      | 4.04%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | BR        |            1 | NC      | $979698.48    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| ARCOS DORADOS BV                                                 | Arcos Dorados BV                                                                 | CUSIP: 03965TAC7<br>LEI: 549300T91OYP6I7P8G39 | Long             | DBT              | CORP              | NL        |       364000 | PA      | $379338.96    | 0.00%             | 2032-01-29      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| DC Commercial Mortgage Trust                                     | DC Trust 2024-HLTN                                                               | CUSIP: 24022FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2440000 | PA      | $2451532.66   | 0.01%             | 2040-04-13      | Variable      | 5.93%                 | No            |                  2 | On Loan: No      |
| VODAFONE GROUP PLC                                               | Vodafone Group PLC                                                               | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |      3307000 | PA      | $3448797.55   | 0.02%             | 2079-04-04      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CNY 1.556000 18-MAR-2029 CNR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     11637634 | OU      | $3711.64      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                                              | BWAY 2013-1515 Mortgage Trust                                                    | CUSIP: 05604FAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2750000 | PA      | $2543753.85   | 0.02%             | 2033-03-10      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 9.040000 14-NOV-2029 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    129270327 | OU      | $329020.71    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                             | Deephaven Residential Mortgage Trust 2026-INV1                                   | CUSIP: 24381GAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       573821 | PA      | $565915.53    | 0.00%             | 2070-12-25      | Variable      | 6.57%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | 1Y RTR 3.000000 08-JUN-2026                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |    618590837 | OU      | $12000.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS BANK USA                                           | Goldman Sachs Bank USA/New York NY                                               | CUSIP: 38151G5B3<br>LEI: KD3XUN7C6T14HNAYLU02 | Long             | SN               | CORP              | US        |     40455000 | PA      | $38699253.00  | 0.23%             | 2030-09-12      | Variable      | 6.60%                 | No            |                  3 | On Loan: No      |
| MOLINA HEALTHCARE INC                                            | Molina Healthcare Inc                                                            | CUSIP: 60855RAN0<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |       841000 | PA      | $855675.27    | 0.01%             | 2031-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Maricopa County Industrial Development Authority                 | MARICOPA CNTY AZ INDL DEV AUTH EDU REVENUE                                       | CUSIP: 56681NJD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      1330000 | PA      | $1397851.01   | 0.01%             | 2029-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DARLING INGREDIENTS INC                                          | Darling Ingredients Inc                                                          | CUSIP: 237266AJ0<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |       925000 | PA      | $933022.53    | 0.01%             | 2030-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| TEAMSYSTEM SPA                                                   | TeamSystem SpA                                                                   | CUSIP: 000000000<br>LEI: 81560062081DF3AB7A90 | Long             | DBT              | CORP              | IT        |      4252000 | PA      | $4775474.58   | 0.03%             | 2032-07-01      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| Latitude Australia Credit Card Loan Note Trust                   | Latitude Australia Credit Card Master Trust Series 2026-1                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | AU        |       639000 | PA      | $458023.95    | 0.00%             | 2038-09-22      | Floating      | 5.80%                 | No            |                  2 | On Loan: No      |
| Oaktree CLO Ltd                                                  | Oaktree CLO 2024-27 Ltd                                                          | CUSIP: 67402UAJ5<br>LEI: 2549005VHJ8BB9WPL105 | Long             | ABS-CBDO         | CORP              | KY        |       270000 | PA      | $271124.82    | 0.00%             | 2037-10-22      | Floating      | 6.66%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2025-NQM3                                    | CUSIP: 64832CAC7<br>LEI: 2138002D8CMDYG7QOU84 | Long             | ABS-MBS          | CORP              | US        |     15233811 | PA      | $15324925.94  | 0.09%             | 2065-05-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans 2025-1 SRL                                         | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |        91640 | PA      | $108406.84    | 0.00%             | 2040-12-28      | Floating      | 3.87%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                             | LifePoint Health Inc                                                             | CUSIP: 53219LAY5<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |      3618000 | PA      | $3795983.89   | 0.02%             | 2032-02-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |      6139000 | PA      | $7265681.22   | 0.04%             | 2030-04-22      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ALEXANDRITE MONNET UK                                            | Alexandrite Monnet UK Holdco PLC                                                 | CUSIP: 000000000<br>LEI: 254900UEO4639PJFQ079 | Long             | DBT              |  | GB        |      2832000 | PA      | $3320689.05   | 0.02%             | 2031-05-31      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| WAYFAIR LLC                                                      | Wayfair LLC                                                                      | CUSIP: 94419NAB3<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |      4463000 | PA      | $4630737.79   | 0.03%             | 2030-09-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| FORTESCUE TREASURY PTY L                                         | Fortescue Treasury Pty Ltd                                                       | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |       965000 | PA      | $922094.26    | 0.01%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                             | Matador Resources Co                                                             | CUSIP: 576485AH9<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |      1048000 | PA      | $1065779.72   | 0.01%             | 2033-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PROAMPAC PG BORROWER LLC                                         | Proampac PG Borrower LLC 2026 EUR Term Loan B                                    | CUSIP: 74274NAN3<br>LEI: 549300ZI6LTXYFEY1578 | Long             | LON              | CORP              | US        |      2000000 | PA      | $2337041.68   | 0.01%             | 2033-03-07      | Floating      | 6.06%                 | No            |                  2 | On Loan: No      |
| ASCENT RESOURCES/ARU FIN                                         | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VBA0<br>LEI: 549300EGLQ2M2CL7JZ89 | Long             | DBT              | CORP              | US        |       230000 | PA      | $236301.31    | 0.00%             | 2033-07-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ELFI Graduate Loan Program 2018-A LLC                            | ELFI Graduate Loan Program 2023-A LLC                                            | CUSIP: 28628DAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       274586 | PA      | $282332.23    | 0.00%             | 2048-02-04      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                      | BBCMS Mortgage Trust 2025-C35                                                    | CUSIP: 07337DAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2385000 | PA      | $1850832.41   | 0.01%             | 2058-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| HEATHROW FINANCE PLC                                             | Heathrow Finance PLC                                                             | CUSIP: 000000000<br>LEI: 549300F740QSGMPHQJ60 | Long             | DBT              | CORP              | GB        |      3090000 | PA      | $3927500.25   | 0.02%             | 2029-09-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                   | Bombardier Inc                                                                   | CUSIP: 097751CC3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |      1358000 | PA      | $1417540.15   | 0.01%             | 2032-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| ASBURY AUTOMOTIVE GROUP                                          | Asbury Automotive Group Inc                                                      | CUSIP: 043436AV6<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |       149000 | PA      | $145108.97    | 0.00%             | 2030-03-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Ellington Financial Mortgage Trust                               | EFMT 2025-INV3                                                                   | CUSIP: 26847NAA9<br>LEI: 254900C1B6ZW3SK54M36 | Long             | ABS-MBS          | CORP              | US        |     10553922 | PA      | $10593262.69  | 0.06%             | 2070-07-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDR8<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |       402000 | PA      | $389451.22    | 0.00%             | 2030-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| BCP V Modular Services Holdings IV Limited                       | BCP V Modular Services Holdings IV Limited 2025 EUR Term Loan                    | CUSIP: 000000000<br>LEI: 549300C6IE8LNURFZG55 | Long             | LON              | CORP              | GB        |      2500000 | PA      | $2662717.73   | 0.02%             | 2031-07-10      | Floating      | 6.55%                 | No            |                  2 | On Loan: No      |
| Sri Lanka Government International Bonds                         | Sri Lanka Government International Bonds                                         | CUSIP: 000000000<br>LEI: 254900IG6Y30I2QE2R92 | Long             | DBT              | NUSS              | LK        |       212346 | PA      | $202210.73    | 0.00%             | 2030-01-15      | Variable      | 3.10%                 | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited                  | HOMES 2025-NQM4 Trust                                                            | CUSIP: 403958AG6<br>LEI: 2549001JI3VOZZFMYK81 | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $3000898.80   | 0.02%             | 2070-08-25      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                              | Petroleos Mexicanos                                                              | CUSIP: 71654QDL3<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     28381390 | PA      | $30396468.69  | 0.18%             | 2029-06-02      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| Elmwood European CLO                                             | Elmwood European CLO 1                                                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | IE        |       100000 | PA      | $118192.93    | 0.00%             | 2040-04-16      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| ELFI Graduate Loan Program 2018-A LLC                            | ELFI Graduate Loan Program 2024-A LLC                                            | CUSIP: 28627LAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4261956 | PA      | $4279767.46   | 0.03%             | 2049-08-25      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                            | Silver Point CLO 8 Ltd                                                           | CUSIP: 827918AA1<br>LEI: 254900U97WKD6RJ07L38 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3002722.80   | 0.02%             | 2038-04-15      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                            | Wells Fargo Commercial Mortgage Trust 2019-C50                                   | CUSIP: 95001XBC9<br>LEI: 549300PX4QZK7CUM8D08 | Long             | ABS-MBS          | CORP              | US        |       870000 | PA      | $840489.77    | 0.00%             | 2052-05-15      | Fixed         | 4.02%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2021-NQM1R                                   | CUSIP: 64828BAB7<br>LEI: 213800HBIGZVLLQA9I67 | Long             | ABS-MBS          | CORP              | US        |       157790 | PA      | $144564.12    | 0.00%             | 2055-07-25      | Variable      | 1.10%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                                           | Canyon CLO 2021-4 Ltd                                                            | CUSIP: 13877PAL1<br>LEI: 254900V38Q76ALAJY818 | Long             | ABS-CBDO         | CORP              | KY        |      1750000 | PA      | $1750435.05   | 0.01%             | 2034-10-15      | Floating      | 4.77%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | Oak Hill Credit Partners X-R Ltd                                                 | CUSIP: 67707CBC1<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      7500000 | PA      | $7492854.00   | 0.04%             | 2038-04-20      | Floating      | 4.81%                 | No            |                  2 | On Loan: No      |
| Pretium Mortgage Credit Partners LLC                             | PRET 2025-RPL2 Trust                                                             | CUSIP: 69392LAA2<br>LEI: 254900640HC5OZKI7J87 | Long             | ABS-MBS          | CORP              | US        |      1140907 | PA      | $1107518.96   | 0.01%             | 2064-08-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                          | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAB6<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |        25000 | PA      | $25138.08     | 0.00%             | 2030-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UK Logisitics                                                    | UK Logistics 2024-2 DAC                                                          | CUSIP: 000000000<br>LEI: 635400LLQ82YFJBFFU27 | Long             | ABS-MBS          | CORP              | GB        |      1193999 | PA      | $1625018.17   | 0.01%             | 2035-02-17      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital CLO 84B Ltd                                                        | CUSIP: 38182KAG0<br>LEI: 254900Q9J0ZXOH0PUQ28 | Long             | ABS-CBDO         | CORP              | KY        |      1400000 | PA      | $1401489.32   | 0.01%             | 2039-01-20      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                              | NCL Corp Ltd                                                                     | CUSIP: 62886HBZ3<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |       678000 | PA      | $656189.55    | 0.00%             | 2033-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| MCR Mortgage Trust                                               | MCR 2024-HTL Mortgage Trust                                                      | CUSIP: 55286PAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1812807 | PA      | $1810572.21   | 0.01%             | 2037-02-15      | Floating      | 6.76%                 | No            |                  2 | On Loan: No      |
| Together Asset Backed Securitisation                             | Together Asset Backed Securitisation 2025-2nd1 PLC                               | CUSIP: 000000000<br>LEI: 635400YLGUIWG9EKBV27 | Long             | ABS-MBS          | CORP              | GB        |       633238 | PA      | $863302.93    | 0.01%             | 2056-09-12      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| TURK TELEKOMUNIKASYON AS                                         | Turk Telekomunikasyon AS                                                         | CUSIP: 000000000<br>LEI: 789000A2TXOI10JZLF90 | Long             | DBT              | CORP              | TR        |      1479000 | PA      | $1519672.50   | 0.01%             | 2029-05-20      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.719800 17-SEP-2027 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     34029509 | OU      | $17968.83     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.057000 02-JAN-2031 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     13325329 | OU      | $-60384.20    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ION Platform Finance SARL                                        | ION Platform Finance SARL EUR Term Loan                                          | CUSIP: 46206RAD7<br>LEI: 6488IU1F9M51Z3P60R77 | Long             | LON              | CORP              | LU        |      2964706 | PA      | $2784699.67   | 0.02%             | 2032-10-07      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| Auto ABS                                                         | Auto ABS Spanish Loans 2024-1 FT                                                 | CUSIP: 000000000<br>LEI: 9598007LTXPL84RD7W58 | Long             | ABS-O            | CORP              | ES        |       295424 | PA      | $348332.95    | 0.00%             | 2038-09-28      | Floating      | 3.21%                 | No            |                  2 | On Loan: No      |
| ARI Fleet Lease Trust                                            | ARI Fleet Lease Trust 2023-A                                                     | CUSIP: 00218GAE2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2492000 | PA      | $2531546.05   | 0.02%             | 2032-02-17      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans Srl                                                | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |      2620000 | PA      | $3074962.18   | 0.02%             | 2040-06-25      | Floating      | 2.92%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.530300 17-DEC-2027 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    186799682 | OU      | $154164.00    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                         | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |     13399000 | PA      | $15714253.15  | 0.09%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman Loan Advisers CLO 36R Ltd                                       | CUSIP: 64090EAG1<br>LEI: 254900RBT2LAQQHMHG60 | Long             | ABS-CBDO         | CORP              | KY        |      3440000 | PA      | $3445995.92   | 0.02%             | 2039-07-20      | Floating      | 6.43%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2025-2 PLC                                              | CUSIP: 000000000<br>LEI: 213800WUDDAGMT94UJ09 | Long             | ABS-MBS          | CORP              | GB        |      1446000 | PA      | $1971441.65   | 0.01%             | 2068-01-17      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                       | BFLD Commercial Mortgage Trust 2025-5MW                                          | CUSIP: 088921AF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     12050000 | PA      | $12327817.57  | 0.07%             | 2042-10-10      | Variable      | 10.15%                | No            |                  2 | On Loan: No      |
| APCOA GMBH                                                       | APCOA GmbH                                                                       | CUSIP: 000000000<br>LEI: 529900H8FIYAOV5FUW68 | Long             | DBT              | CORP              | DE        |     10996000 | PA      | $12920331.69  | 0.08%             | 2031-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                                 | UWM Holdings LLC                                                                 | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5865000 | PA      | $5438917.72   | 0.03%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| BONCER                                                           | Argentina Treasury Bond BONCER                                                   | CUSIP: 000000000<br>LEI: 549300KPBYGYF7HCHO27 | Long             | DBT              | NUSS              | AR        |   1679064000 | PA      | $2835463.16   | 0.02%             | 2027-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.160500 14-OCT-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    109946205 | OU      | $153252.64    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                                     | Novelis Corp                                                                     | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |        80000 | PA      | $72722.38     | 0.00%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Three Sarl               | CUSIP: 000000000<br>LEI: 213800WQKYRCMTF4FR47 | Long             | ABS-O            | CORP              | LU        |        76353 | PA      | $90320.71     | 0.00%             | 2034-03-21      | Floating      | 3.90%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2024-H6 Mortgage Trust                                                     | CUSIP: 227919AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5687105 | PA      | $5692018.11   | 0.03%             | 2069-09-25      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2024-A                                 | CUSIP: 63943CAA9<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |      1740417 | PA      | $1763748.18   | 0.01%             | 2072-10-15      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $8774.40      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 32 LTD /old                                                                   | CUSIP: 74988CAA2<br>LEI: 549300V317BEVFPNAZ66 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250478.00    | 0.00%             | 2039-10-15      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| INT Commercial Mortgage Trust 2025-PLAZA                         | INT Commercial Mortgage Trust 2025-PLAZA                                         | CUSIP: 44989YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3643000 | PA      | $3639334.41   | 0.02%             | 2037-11-05      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2021-I Ltd                                                          | CUSIP: 12563EAQ6<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $251071.68    | 0.00%             | 2037-07-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2024-5                                    | CUSIP: 92261ABA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2198118 | PA      | $2190295.12   | 0.01%             | 2054-10-25      | Fixed         | 5.49%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: OIS 6.123000 18-DEC-2029 INR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    560722205 | OU      | $-52744.52    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| HUB INTERNATIONAL LTD                                            | HUB International Ltd                                                            | CUSIP: 44332PAH4<br>LEI: 549300JQT6ATTUNS5E06 | Long             | DBT              | CORP              | US        |     11164000 | PA      | $11548834.24  | 0.07%             | 2030-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                | Iron Mountain Inc                                                                | CUSIP: 46284VAC5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      1600000 | PA      | $1596424.96   | 0.01%             | 2027-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| IVORY COAST                                                      | Ivory Coast Government International Bond                                        | CUSIP: 221625AV8<br>LEI: 254900ICW11T82O6H590 | Long             | DBT              | NUSS              | CI        |       797000 | PA      | $844963.46    | 0.01%             | 2036-04-01      | Fixed         | 8.08%                 | No            |                  2 | On Loan: No      |
| Aimco                                                            | Aimco CLO 11 Ltd                                                                 | CUSIP: 00140NAW0<br>LEI: 549300VLRW0CEQ83RF89 | Long             | ABS-CBDO         | CORP              | KY        |      1750000 | PA      | $1754157.13   | 0.01%             | 2037-07-17      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| OAK-EAGLE ACQUIRECO INC                                          | OAK-Eagle Acquireco Inc                                                          | CUSIP: 67124CAA1<br>LEI: 6488ICS9P20290MA1H31 | Long             | DBT              | CORP              | US        |      4147000 | PA      | $4273135.32   | 0.03%             | 2033-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                              | Sirius XM Radio LLC                                                              | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      6119000 | PA      | $6101395.03   | 0.04%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Tackle SARL                                                      | Tackle SARL 2025 EUR Repriced Term Loan B2                                       | CUSIP: 000000000<br>LEI: 222100DLH8KKOD63ZQ23 | Long             | LON              | CORP              | LU        |      1961749 | PA      | $2299527.65   | 0.01%             | 2028-05-22      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| NSW PORTS FINANCE CO PTY                                         | NSW Ports Finance Co Pty Ltd                                                     | CUSIP: 000000000<br>LEI: 8945007UJK9KDKZE6M43 | Long             | DBT              | CORP              | AU        |       650000 | PA      | $441663.16    | 0.00%             | 2034-09-19      | Fixed         | 5.43%                 | No            |                  2 | On Loan: No      |
| CART                                                             | CONE Trust 2024-DFW1                                                             | CUSIP: 20682AAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       500000 | PA      | $496629.90    | 0.00%             | 2041-08-15      | Floating      | 5.95%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Trust 2015-5                                                           | CUSIP: 46644XAK8<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |       824483 | PA      | $822568.60    | 0.00%             | 2045-05-25      | Variable      | 5.21%                 | No            |                  2 | On Loan: No      |
| STORA ENSO OYJ                                                   | Stora Enso Oyj                                                                   | CUSIP: 000000000<br>LEI: 7437000ZP669LKUTZ738 | Long             | DBT              | CORP              | FI        |      1575000 | PA      | $1861689.59   | 0.01%             | 2031-07-17      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Corp. Nacional del Cobre de Chile                                | Corp. Nacional del Cobre de Chile                                                | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |      8146000 | PA      | $7680130.26   | 0.05%             | 2030-01-14      | Fixed         | 3.15%                 | No            |                  2 | On Loan: —       |
| Woodward Capital Management                                      | RCKT Mortgage Trust 2024-CES1                                                    | CUSIP: 749424AE7<br>LEI: 2549002LEW4WNQBOMB89 | Long             | ABS-MBS          | CORP              | US        |       138000 | PA      | $138623.29    | 0.00%             | 2044-02-25      | Variable      | 6.77%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.485000 22-AUG-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      6526252 | OU      | $-4042.68     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| KINETIK HOLDINGS LP                                              | Kinetik Holdings LP                                                              | CUSIP: 49461MAB6<br>LEI: 549300RD6AJIMYC0HY12 | Long             | DBT              | CORP              | US        |      5605000 | PA      | $5717621.27   | 0.03%             | 2028-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Dowson 2026-1 Plc                                                | Dowson 2026-1 PLC                                                                | CUSIP: 000000000<br>LEI: 213800ARUDISHV4A5218 | Long             | ABS-O            | CORP              | GB        |       532000 | PA      | $723907.99    | 0.00%             | 2033-05-20      | Floating      | 8.43%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                                | Lebanon Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |      1103000 | PA      | $279610.50    | 0.00%             | 2024-04-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Corp Trust 2025-NQM6                               | CUSIP: 362933AG8<br>LEI: 254900X1ABPQ6D4G6D07 | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $989776.60    | 0.01%             | 2066-02-25      | Variable      | 6.60%                 | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited                  | HOMES 2025-NQM1 Trust                                                            | CUSIP: 43761DAF7<br>LEI: 254900LUV7YA0N50XT86 | Long             | ABS-MBS          | CORP              | US        |      2000000 | PA      | $2012393.00   | 0.01%             | 2070-01-25      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| US BANK NA CINCINNATI                                            | US Bank NA/Cincinnati OH                                                         | CUSIP: 90331HPS6<br>LEI: 6BYL5QZYBDK8S7L73M02 | Long             | DBT              | CORP              | US        |      9890000 | PA      | $9924939.10   | 0.06%             | 2028-05-15      | Fixed         | 4.73%                 | No            |                  2 | On Loan: —       |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2019-1                                                  | CUSIP: 46650HAL2<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |        18664 | PA      | $18366.79     | 0.00%             | 2049-05-25      | Floating      | 4.72%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED USD / SOLD PLN                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |            1 | NC      | $-98078.99    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF ECUADOR                                              | Ecuador Government International Bond                                            | CUSIP: 000000000<br>LEI: 5299003Y2U5XK0A35H71 | Long             | DBT              | NUSS              | EC        |      4748000 | PA      | $4845128.89   | 0.03%             | 2034-01-29      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-MDHS                                           | CUSIP: 12433BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7200020 | PA      | $7202269.90   | 0.04%             | 2041-05-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: OIS 1.593000 17-DEC-2035 THO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     50084751 | OU      | $-65465.33    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Funding                                                    | Atlas Funding                                                                    | CUSIP: 000000000<br>LEI: 635400GE1FMJVQH5B467 | Long             | ABS-MBS          | CORP              | GB        |       216000 | PA      | $293918.41    | 0.00%             | 2068-01-20      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| VOC ESCROW LTD                                                   | VOC Escrow Ltd                                                                   | CUSIP: 91832VAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |      1581000 | PA      | $1577638.00   | 0.01%             | 2028-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD CLP                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $13018.16     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FORVIA SE                                                        | Forvia SE                                                                        | CUSIP: 000000000<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |      3217000 | PA      | $3874446.97   | 0.02%             | 2030-06-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                                   | Upgrade Master Pass-Thru Trust Series 2025-ST7                                   | CUSIP: 91533RAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1826000 | PA      | $1824543.77   | 0.01%             | 2032-11-15      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| SHIFT4 PAYMENTS LLC/FIN                                          | Shift4 Payments LLC / Shift4 Payments Finance Sub Inc                            | CUSIP: 82453AAB3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3747000 | PA      | $3739595.93   | 0.02%             | 2032-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| ROMANIA                                                          | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |      1515000 | PA      | $1549098.23   | 0.01%             | 2031-07-16      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Four Srl                 | CUSIP: 000000000<br>LEI: 8156003524A4F7B21C64 | Long             | ABS-O            | CORP              | IT        |       478000 | PA      | $563574.51    | 0.00%             | 2040-08-16      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| KING US BIDCO INC                                                | King US Bidco Inc                                                                | CUSIP: 000000000<br>LEI: 254900FMEU5P81WHKR41 | Long             | DBT              | CORP              | US        |      3200000 | PA      | $3781896.57   | 0.02%             | 2032-12-01      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 3.904500 17-DEC-2027 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     52561347 | OU      | $109898.22    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF EL SALVADOR                                          | El Salvador Government International Bond                                        | CUSIP: 000000000<br>LEI: 529900AKDMUSFSDOM949 | Long             | DBT              | NUSS              | SV        |      4649000 | PA      | $4937238.00   | 0.03%             | 2029-02-28      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Sand Trust                                                       | Sandstone Peak IV Ltd                                                            | CUSIP: 80012AAA3<br>LEI: 254900HZXZ4VWBL5OX74 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3007158.90   | 0.02%             | 2039-01-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Ziggo BV                                                         | Ziggo BV 2019 EUR Term Loan H                                                    | CUSIP: 000000000<br>LEI: 213800TQASLF9JXH5J59 | Long             | LON              | CORP              | NL        |      3000000 | PA      | $3470634.70   | 0.02%             | 2029-01-31      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: MXN 7.245000 07-APR-2028 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    743880000 | OU      | $18980.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DC Commercial Mortgage Trust                                     | DC Trust 2024-HLTN                                                               | CUSIP: 24022FAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3250000 | PA      | $3220102.93   | 0.02%             | 2040-04-13      | Variable      | 7.98%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans                                        | College Ave Student Loans 2021-B LLC                                             | CUSIP: 19425AAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       694647 | PA      | $689468.76    | 0.00%             | 2052-06-25      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| Turquoise V Trust                                                | TURQUOISE V TRUST SERIES 2026-1 TRUST                                            | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | AU        |      5900000 | PA      | $4241332.38   | 0.03%             | 2067-06-12      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| ENDO FINANCE HOLDINGS LP                                         | Endo Finance Holdings LP                                                         | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3850000 | PA      | $4081192.58   | 0.02%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| TELEFONICA EMISIONES SAU                                         | Telefonica Emisiones SA                                                          | CUSIP: 000000000<br>LEI: 549300Y5MFC4SW5Z3K71 | Long             | DBT              | CORP              | ES        |      5200000 | PA      | $5919486.89   | 0.04%             | 2034-01-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                                               | Mattamy Group Corp                                                               | CUSIP: 57701RAM4<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |      1074000 | PA      | $1025686.00   | 0.01%             | 2030-03-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                                              | Century Communities Inc                                                          | CUSIP: 156504AN2<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |      2430000 | PA      | $2417798.97   | 0.01%             | 2033-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NATIONAL BANK GREECE SA                                          | National Bank of Greece SA                                                       | CUSIP: 000000000<br>LEI: 5UMCZOEYKCVFAW8ZLO05 | Long             | DBT              | CORP              | GR        |      3597000 | PA      | $4459150.55   | 0.03%             | 2035-06-28      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2025-B                                                 | CUSIP: 64032BAE3<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |       688000 | PA      | $676147.69    | 0.00%             | 2055-05-17      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                 | PURCHASED PLN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | PL        |            1 | NC      | $-34849.78    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Obol France 3 SAS                                                | Obol France 3 SAS 2024 EUR Term Loan B                                           | CUSIP: 000000000<br>LEI: 969500K3AWY66FOPOS97 | Long             | LON              | CORP              | FR        |       917230 | PA      | $1065968.08   | 0.01%             | 2028-12-31      | Floating      | 7.53%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                                         | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAG6<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |      6775000 | PA      | $6740272.91   | 0.04%             | 2029-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2024-NQM3                                        | CUSIP: 10569LAA3<br>LEI: 2549000KHGUZMZ31N203 | Long             | ABS-MBS          | CORP              | US        |       864704 | PA      | $870635.47    | 0.01%             | 2064-03-25      | Variable      | 6.19%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                                 | MGM Resorts International                                                        | CUSIP: 552953CK5<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |      2581000 | PA      | $2614865.30   | 0.02%             | 2029-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Three Sarl               | CUSIP: 000000000<br>LEI: 213800WQKYRCMTF4FR47 | Long             | ABS-O            | CORP              | LU        |       458119 | PA      | $539751.00    | 0.00%             | 2034-03-21      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                    | CoreWeave Inc                                                                    | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |      7183000 | PA      | $7137456.62   | 0.04%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| Colombia Government International Bonds                          | Colombia Government International Bonds                                          | CUSIP: 195325EG6<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |      2765000 | PA      | $2890254.50   | 0.02%             | 2034-02-02      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans Srl                                                | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |      7435000 | PA      | $8732246.04   | 0.05%             | 2040-06-25      | Floating      | 2.64%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | EUR P HUF C @373.0000 EO                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |      8201000 | OU      | $232330.69    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HJ6X0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      4329584 | PA      | $4390255.34   | 0.03%             | 2055-02-25      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | Onemain Financial Issuance Trust 2024-1                                          | CUSIP: 68269NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17087000 | PA      | $17871778.57  | 0.11%             | 2041-05-14      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| Sage AR Funding                                                  | Sage AR Funding                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |      1072000 | PA      | $1448719.77   | 0.01%             | 2038-05-18      | Floating      | 6.24%                 | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2025-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400KCWWV87X81YE49 | Long             | ABS-O            | CORP              | GB        |      5489375 | PA      | $7483021.23   | 0.04%             | 2032-12-20      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| RENEW TREAS IFSC PVT LTD                                         | Renew Treasury Ifsc Pvt Ltd                                                      | CUSIP: 759963AA9<br>LEI: 335800IK4XWJ5637BW61 | Long             | DBT              | CORP              | IN        |       662000 | PA      | $658226.60    | 0.00%             | 2031-02-02      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EC FINANCE PLC                                                   | EC Finance PLC                                                                   | CUSIP: 000000000<br>LEI: 213800NKPB53RHYDQE45 | Long             | DBT              | CORP              | GB        |      9584000 | PA      | $11083569.13  | 0.07%             | 2026-10-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2025-VIS3                                               | CUSIP: 46594EAG9<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      2642953 | PA      | $2621876.77   | 0.02%             | 2066-02-25      | Variable      | 6.76%                 | No            |                  2 | On Loan: No      |
| ARAB REPUBLIC OF EGYPT                                           | Egypt Government International Bond                                              | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      1642000 | PA      | $1647738.79   | 0.01%             | 2028-02-21      | Fixed         | 6.59%                 | No            |                  2 | On Loan: No      |
| BOPARAN FINANCE PLC                                              | Boparan Finance PLC                                                              | CUSIP: 000000000<br>LEI: 213800GQSQIOBR3DHN70 | Long             | DBT              | CORP              | GB        |      1876500 | PA      | $2687502.81   | 0.02%             | 2029-11-07      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                            | Palmer Square CLO 2021-3 Ltd                                                     | CUSIP: 69688FAN0<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |      4750000 | PA      | $4762003.73   | 0.03%             | 2038-10-15      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| IHO VERWALTUNGS GMBH                                             | IHO Verwaltungs GmbH                                                             | CUSIP: 000000000<br>LEI: 529900JL0HDVGZMUJF32 | Long             | DBT              | CORP              | DE        |       735000 | PA      | $874942.99    | 0.01%             | 2031-05-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                               | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DE               |  | US        |     84384960 | OU      | $-209954.07   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                               | EFMT 2026-NQM1                                                                   | CUSIP: 26846GAM9<br>LEI: 254900H3V169GPKPIM43 | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $989329.20    | 0.01%             | 2071-02-25      | Variable      | 6.54%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO XXII Ltd                                                        | CUSIP: 09629PAA4<br>LEI: 549300NUS8PQQUZMPR50 | Long             | ABS-CBDO         | CORP              | KY        |       122325 | PA      | $122325.81    | 0.00%             | 2031-07-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Bank5                                                            | BANK5 Trust 2024-5YR6                                                            | CUSIP: 066043AB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2188704 | PA      | $2273990.13   | 0.01%             | 2057-05-15      | Fixed         | 6.23%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust                                 | Vista Point Securitization Trust 2025-CES3                                       | CUSIP: 92842MAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10700370 | PA      | $10691016.44  | 0.06%             | 2055-11-25      | Variable      | 5.30%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                        | CIM Trust 2025-I1                                                                | CUSIP: 12571DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2673805 | PA      | $2692173.48   | 0.02%             | 2069-10-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                                           | Comstock Resources Inc                                                           | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |        80000 | PA      | $79971.74     | 0.00%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                                 | MGM Resorts International                                                        | CUSIP: 552953CF6<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |       872000 | PA      | $873228.65    | 0.01%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FAIR ISAAC CORP                                                  | Fair Isaac Corp                                                                  | CUSIP: 303250AJ3<br>LEI: RI6HET5SJUEY30V1PS26 | Long             | DBT              | CORP              | US        |      1946000 | PA      | $1915540.04   | 0.01%             | 2034-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                                             | FS Rialto 2026-FL11 Issuer LLC                                                   | CUSIP: 30343TAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      7038000 | PA      | $7029606.48   | 0.04%             | 2044-01-19      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Zambia Government International Bonds                            | Zambia Government International Bonds                                            | CUSIP: 000000000<br>LEI: 213800DMLAZ6LGMMD849 | Long             | DBT              | NUSS              | ZM        |      4051564 | PA      | $2767866.46   | 0.02%             | 2053-12-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                           | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $-24880.21    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited                  | HOMES 2025-NQM2 Trust                                                            | CUSIP: 403966AA2<br>LEI: 2549001JI3VOZZFMYK81 | Long             | ABS-MBS          | CORP              | US        |     12797974 | PA      | $12836955.12  | 0.08%             | 2070-02-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| Nobian Finance BV                                                | Nobian Finance BV 2024 EUR Term Loan B                                           | CUSIP: 000000000<br>LEI: 254900ZGJ6MMZN9IQQ31 | Long             | LON              | CORP              | NL        |      1750000 | PA      | $2027248.04   | 0.01%             | 2029-07-02      | Floating      | 6.16%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust Series 2024-NQM1                                        | CUSIP: 465983AA2<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      7219127 | PA      | $7251952.64   | 0.04%             | 2064-02-25      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| Youni Italy                                                      | Youni Italy 2025-2 Srl                                                           | CUSIP: 000000000<br>LEI: 8156001A7AEEA1E59607 | Long             | ABS-O            | CORP              | IT        |      3500938 | PA      | $4117992.43   | 0.02%             | 2036-01-25      | Floating      | 2.78%                 | No            |                  2 | On Loan: No      |
| CART                                                             | CONE Trust 2024-DFW1                                                             | CUSIP: 20682AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6278000 | PA      | $6272546.93   | 0.04%             | 2041-08-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2024-2 Ltd                                            | CUSIP: 69703HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $740595.75    | 0.00%             | 2033-01-15      | Floating      | 8.37%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1563000 | PA      | $1559236.14   | 0.01%             | 2028-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2022-NQM7 Trust                                                              | CUSIP: 67117DAA8<br>LEI: 25490010LUJWFEUCIH44 | Long             | ABS-MBS          | CORP              | US        |       375998 | PA      | $375128.01    | 0.00%             | 2062-08-25      | Variable      | 5.11%                 | No            |                  2 | On Loan: No      |
| Bryant Park Funding Ltd                                          | Bryant Park Funding 2023-19 Ltd                                                  | CUSIP: 11765AAQ2<br>LEI: 5493004CTFWJSWYD8564 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1000234.30   | 0.01%             | 2038-04-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | NEW Residential Mortgage Loan Trust 2025-Nqm2                                    | CUSIP: 64831XAC2<br>LEI: 2138006ZAYPD4ZHQYX81 | Long             | ABS-MBS          | CORP              | US        |      1914028 | PA      | $1925574.79   | 0.01%             | 2065-04-25      | Variable      | 5.57%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                                | Lebanon Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |      2327000 | PA      | $594548.50    | 0.00%             | 2032-03-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO XXIX                                                 | CUSIP: 08186EAN8<br>LEI: 549300DICNUWMUKL3816 | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $1003207.10   | 0.01%             | 2038-01-25      | Floating      | 5.17%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | FSWP: OIS 8.635000 17-SEP-2026 IBR                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |    958429133 | OU      | $4932.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PBE5<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      6580000 | PA      | $6197249.23   | 0.04%             | 2030-10-15      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2021-INV1                                    | CUSIP: 36263KAF8<br>LEI: 25490038RWR4AJZ5B524 | Long             | ABS-MBS          | CORP              | US        |      1923315 | PA      | $1720909.11   | 0.01%             | 2051-12-25      | Variable      | 2.50%                 | No            |                  2 | On Loan: No      |
| NEWDAY PARTNERSHIP FUNDING PLC                                   | Newday Funding Master Issuer PLC - Series 2026-1                                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | GB        |      1448000 | PA      | $1970783.32   | 0.01%             | 2034-03-15      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                              | American Tower Corp                                                              | CUSIP: 03027XBV1<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |      3335000 | PA      | $3316292.95   | 0.02%             | 2027-03-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED CNH / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CN        |            1 | NC      | $-60692.19    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ATLANTICA SUSTAIN INFRA                                          | Atlantica Sustainable Infrastructure Ltd                                         | CUSIP: 04916WAA2<br>LEI: 549300ITBBGKJ651R879 | Long             | DBT              | CORP              | GB        |       200000 | PA      | $195348.66    | 0.00%             | 2028-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                         | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAE3<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      1695000 | PA      | $1744492.31   | 0.01%             | 2030-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Sage AR Funding 2025 No 1 Plc                                    | Sage AR Funding                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |       959397 | PA      | $1301089.78   | 0.01%             | 2037-05-17      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                    | TransDigm Inc                                                                    | CUSIP: 893647BY2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      8438000 | PA      | $8502879.78   | 0.05%             | 2033-05-31      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Apidos CLO                                                       | Apidos CLO XLIV Ltd                                                              | CUSIP: 037989AR1<br>LEI: 254900N39ZT8BF6B8W53 | Long             | ABS-CBDO         | CORP              | JE        |      1000000 | PA      | $990088.10    | 0.01%             | 2037-10-26      | Floating      | 7.77%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                                                   | PMT Loan Trust 2025-INV2                                                         | CUSIP: 73015JAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6351656 | PA      | $6424351.13   | 0.04%             | 2056-02-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                             | Colombian TES                                                                    | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        |  23995500000 | PA      | $6226976.32   | 0.04%             | 2030-02-27      | Fixed         | 12.50%                | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Trust 2025-ARIA                                                               | CUSIP: 05619TAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6813000 | PA      | $6858913.49   | 0.04%             | 2042-12-13      | Variable      | 5.20%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                        | Sunoco LP                                                                        | CUSIP: 86765KAD1<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |       566000 | PA      | $578465.02    | 0.00%             | 2033-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Pavillion Consumer PLC                                           | Pavillion Consumer 2025-1 PLC                                                    | CUSIP: 000000000<br>LEI: 213800XK4G6W1NHSJJ12 | Long             | ABS-O            | CORP              | GB        |      1277000 | PA      | $1735835.45   | 0.01%             | 2036-01-25      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| SC GERMANY CONSUMER                                              | SC Germany SA Compartment Consumer 2025-2                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |      1200000 | PA      | $1408390.89   | 0.01%             | 2038-12-15      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| SV RNO PROPERTY OWNER 1                                          | SV RNO Property Owner 1 LLC                                                      | CUSIP: 78488XAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8470000 | PA      | $8310329.40   | 0.05%             | 2031-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE SA                                         | Electricite de France SA                                                         | CUSIP: 000000000<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |      4500000 | PA      | $6014500.15   | 0.04%             | 2029-01-22      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS/CAN WON/MILLEN                                         | Six Flags Entertainment Corp/Canada's Wonderland Co/Millennium Operations LLC    | CUSIP: 83003AAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      9041000 | PA      | $9191541.69   | 0.05%             | 2032-01-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: —       |
| 1988 CLO Ltd.                                                    | 1988 CLO 3 Ltd                                                                   | CUSIP: 653949AL1<br>LEI: 2549000NTXDB3VOXDV92 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $2998522.80   | 0.02%             | 2038-10-15      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| Fairbridge                                                       | Fairbridge 2025-1 BV                                                             | CUSIP: 000000000<br>LEI: 724500T08SS1ZWOYTR56 | Long             | ABS-MBS          | CORP              | NL        |       293501 | PA      | $346184.85    | 0.00%             | 2062-02-24      | Floating      | 3.82%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                      | BBCMS Mortgage Trust 2022-C17                                                    | CUSIP: 054976AE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1100000 | PA      | $1067543.84   | 0.01%             | 2055-09-15      | Fixed         | 4.44%                 | No            |                  2 | On Loan: No      |
| MAIN Trust                                                       | MAIN Trust 2026-OLAS                                                             | CUSIP: 56036BAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1400000 | PA      | $1399984.87   | 0.01%             | 2041-01-15      | Floating      | 7.90%                 | No            |                  2 | On Loan: No      |
| Ukraine Government International Bonds                           | Ukraine Government International Bonds                                           | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |        54180 | PA      | $27496.35     | 0.00%             | 2036-02-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Options Clearing Corp.                                           | ISHARES IBOXX USD HIGH YIELD C                                                   | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -39099 | NC      | $-1371029.89  | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| OVH GROUPE SAS                                                   | OVH Groupe SA                                                                    | CUSIP: 000000000<br>LEI: 9695001J8OSOVX4TP939 | Long             | DBT              | CORP              | FR        |      3896000 | PA      | $4530076.02   | 0.03%             | 2031-02-05      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Consolidated Communications LLC, Fidium Fiber Finance Holdco LLC | Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC                  | CUSIP: 315961AJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2032000 | PA      | $2005388.12   | 0.01%             | 2056-03-20      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                                    | ZF North America Capital Inc                                                     | CUSIP: 98877DAD7<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |       300000 | PA      | $307378.20    | 0.00%             | 2028-04-14      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 8.000000 28-DEC-2035 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      6443411 | OU      | $-6293.63     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.822500 07-JUN-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     49435000 | OU      | $7332.43      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $4224.47      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                            | Level 3 Financing Inc                                                            | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |       200000 | PA      | $207445.40    | 0.00%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                                         | Charles River Laboratories International Inc                                     | CUSIP: 159864AG2<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |       453000 | PA      | $433189.40    | 0.00%             | 2029-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| Citibank NA                                                      | PURCHASED EGP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | EG        |            1 | NC      | $-286293.12   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                           | CUSIP: 000000000<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |      3160000 | PA      | $2364780.89   | 0.01%             | 2041-04-14      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust Series 2025-NQM4                                        | CUSIP: 46660HAD8<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      9106140 | PA      | $9069167.27   | 0.05%             | 2066-03-25      | Variable      | 4.95%                 | No            |                  2 | On Loan: No      |
| EAGLE FUNDING LUXCO SARL                                         | Eagle Funding Luxco Sarl                                                         | CUSIP: 26951TAA8<br>LEI: 894500VDP08MVIZ6OA60 | Long             | DBT              | NUSS              | LU        |      2897000 | PA      | $2916409.90   | 0.02%             | 2030-08-17      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| PINEWOOD FINCO PLC                                               | Pinewood Finco PLC                                                               | CUSIP: 000000000<br>LEI: 984500EF3F7CA63ND769 | Long             | DBT              | CORP              | GB        |      8402000 | PA      | $11306260.12  | 0.07%             | 2030-03-27      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BTQ22<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      1222058 | PA      | $1239402.89   | 0.01%             | 2054-12-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                | Newell Brands Inc                                                                | CUSIP: 651229BF2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |      3272000 | PA      | $3204615.45   | 0.02%             | 2030-05-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| CAESARS ENTERTAIN INC                                            | Caesars Entertainment Inc                                                        | CUSIP: 12769GAD2<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |      7644000 | PA      | $6850801.84   | 0.04%             | 2032-10-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Trimaran Advisors CAVU 2019-2                                    | Trimaran CAVU 2019-2 Ltd                                                         | CUSIP: 89624JAW7<br>LEI: 254900IFDJE1IJQ1HT84 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $2989716.00   | 0.02%             | 2038-03-18      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CNY 1.577000 17-DEC-2030 CNR                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    133328537 | OU      | $34562.07     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                           | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      7318000 | PA      | $7090697.80   | 0.04%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| ILIAD SA                                                         | iliad SA                                                                         | CUSIP: 000000000<br>LEI: 969500FZ9BTRZS3JNB97 | Long             | DBT              | CORP              | FR        |      5400000 | PA      | $6277264.63   | 0.04%             | 2032-01-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2026-1 PLC                                              | CUSIP: 000000000<br>LEI: 2138006RXLKWX319BI66 | Long             | ABS-MBS          | CORP              | GB        |      2168000 | PA      | $2953155.80   | 0.02%             | 2068-04-17      | Floating      | 4.89%                 | No            |                  2 | On Loan: No      |
| LUNA 2 5SARL                                                     | Luna 2 5SARL                                                                     | CUSIP: 000000000<br>LEI: 894500N8J2QVEYP0UI86 | Long             | DBT              | CORP              | LU        |     13995000 | PA      | $16470883.58  | 0.10%             | 2032-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CARVANA CO                                                       | Carvana Co                                                                       | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |      5338000 | PA      | $5905145.15   | 0.04%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| GoodLeap Home Improvement Solutions Trust                        | GoodLeap Home Improvement Solutions Trust 2025-1                                 | CUSIP: 38237EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6338225 | PA      | $6358665.63   | 0.04%             | 2049-02-20      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| APTIV SWISS HOLDINGS LTD                                         | Aptiv Swiss Holdings Ltd                                                         | CUSIP: 03837AAD2<br>LEI: 254900HTTDFIJZ32GX53 | Long             | DBT              | CORP              | JE        |      1650000 | PA      | $1691534.28   | 0.01%             | 2054-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA RESOURCES CRP                                         | California Resources Corp                                                        | CUSIP: 13057QAL1<br>LEI: 5493003Q8F0T4F4YMR48 | Long             | DBT              | CORP              | US        |      2844000 | PA      | $2902105.76   | 0.02%             | 2034-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | Oak Hill Credit Partners X-R Ltd                                                 | CUSIP: 67707CBN7<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      1500000 | PA      | $1440841.20   | 0.01%             | 2038-04-20      | Floating      | 7.28%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                | Herc Holdings Inc                                                                | CUSIP: 42704LAK0<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |       200000 | PA      | $198303.08    | 0.00%             | 2034-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Madison Park Funding Ltd                                         | Madison Park Funding XIV Ltd                                                     | CUSIP: 55818RBN5<br>LEI: 254900Q2IOW6JYPYIV98 | Long             | ABS-CBDO         | CORP              | KY        |      1130000 | PA      | $1129806.43   | 0.01%             | 2030-10-22      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| OPAL BIDCO SAS                                                   | Opal Bidco SAS                                                                   | CUSIP: 000000000<br>LEI: 969500R96XT7XY2UJ564 | Long             | DBT              | CORP              | FR        |     11436000 | PA      | $13573416.76  | 0.08%             | 2032-03-31      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                                         | United Wholesale Mortgage LLC                                                    | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |       793000 | PA      | $789697.16    | 0.00%             | 2027-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                           | GreenSky Home Improvement Issuer Trust 2025-2                                    | CUSIP: 39571VAH1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       540000 | PA      | $547527.71    | 0.00%             | 2060-06-25      | Fixed         | 7.79%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BUXZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7781286 | PA      | $7891774.73   | 0.05%             | 2055-02-25      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| Dryden Senior Loan Fund                                          | Dryden 115 CLO Ltd                                                               | CUSIP: 26248DAJ7<br>LEI: 254900XN9Y85HJGYJ219 | Long             | ABS-CBDO         | CORP              | JE        |      3000000 | PA      | $3007662.00   | 0.02%             | 2037-04-18      | Floating      | 7.48%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED THB / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | TH        |            1 | NC      | $-568425.77   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| NCR ATLEOS LLC                                                   | NCR Atleos Corp                                                                  | CUSIP: 638962AA8<br>LEI: 9845005FC3S0VA714741 | Long             | DBT              | CORP              | US        |      2933000 | PA      | $3120292.58   | 0.02%             | 2029-04-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| Arbour CLO                                                       | Arbour CLO XI DAC                                                                | CUSIP: 000000000<br>LEI: 635400SLKORJ1CUGHX15 | Long             | ABS-CBDO         | CORP              | IE        |       800000 | PA      | $945290.60    | 0.01%             | 2038-05-15      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| HUNGARY GOVERNMENT BOND                                          | Hungary Government Bond                                                          | CUSIP: 000000000<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |   1071420000 | PA      | $2548212.99   | 0.02%             | 2038-10-27      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.284500 12-SEP-2030 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      8763348 | OU      | $-9613.22     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 19 Ltd                                                                        | CUSIP: 74983AAL7<br>LEI: 549300RJ4N2AJDFNE876 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $752848.05    | 0.00%             | 2040-04-15      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2025-1                                                  | CUSIP: 034934AA7<br>LEI: 254900HC0S1X9R2JZB30 | Long             | ABS-MBS          | CORP              | US        |      2925230 | PA      | $2944110.37   | 0.02%             | 2070-01-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO XXIX                                                 | CUSIP: 08186EAL2<br>LEI: 549300DICNUWMUKL3816 | Long             | ABS-CBDO         | CORP              | JE        |      8250000 | PA      | $8250580.80   | 0.05%             | 2038-01-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                    | Citigroup Inc                                                                    | CUSIP: 17292GAT2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | SN               | CORP              | US        |     40455000 | PA      | $39528297.32  | 0.23%             | 2030-09-09      | Variable      | 6.35%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | 1Y RTR 2.500000 08-JUN-2026                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |   -618590837 | OU      | $-1781.54     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                            | Silver Point CLO 6 Ltd                                                           | CUSIP: 82808MAA1<br>LEI: 254900RSFBN3VCGBVP05 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5010593.50   | 0.03%             | 2037-10-15      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| New Mountain CLO Ltd                                             | New Mountain CLO 7 Ltd                                                           | CUSIP: 64754YAA7<br>LEI: 549300CEYMYPINCEX579 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2501274.75   | 0.01%             | 2038-03-31      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| Atrium Hotel Portfolio Trust                                     | Atrium Hotel Portfolio Trust 2025-ATRM                                           | CUSIP: 049917AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5431000 | PA      | $5439406.64   | 0.03%             | 2042-08-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                 | Trestles Clo IV Ltd                                                              | CUSIP: 89532WAN9<br>LEI: 254900EO5I6CR0IOWS98 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5010354.00   | 0.03%             | 2038-10-30      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                          | NYMT Loan Trust 2025-CP1                                                         | CUSIP: 67121VAA2<br>LEI: 254900JF85A0S614L988 | Long             | ABS-MBS          | CORP              | US        |      8946476 | PA      | $8615860.14   | 0.05%             | 2069-11-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2023-3 Mortgage Loan Trust                                                  | CUSIP: 19688RAD1<br>LEI: 213800MIPEZY1A8W1N28 | Long             | ABS-MBS          | CORP              | US        |      2000000 | PA      | $2011066.00   | 0.01%             | 2068-09-25      | Variable      | 7.78%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2025-8                                                | CUSIP: 924930AK6<br>LEI: 213800K8E68XJS6Z1D09 | Long             | ABS-MBS          | CORP              | US        |      1966667 | PA      | $1950706.51   | 0.01%             | 2070-09-25      | Variable      | 7.52%                 | No            |                  2 | On Loan: No      |
| DGWD Trust                                                       | DGWD Trust 2025-INFL                                                             | CUSIP: 23347FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7366000 | PA      | $7377415.09   | 0.04%             | 2035-08-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                                                 | Vail Resorts Inc                                                                 | CUSIP: 91879QAQ2<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |      2229000 | PA      | $2215715.16   | 0.01%             | 2030-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Texas Debt Capital CLO, Ltd                                      | Texas Debt Capital CLO 2024-II Ltd                                               | CUSIP: 88238EAE8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2009934.00   | 0.01%             | 2037-01-24      | Floating      | 5.37%                 | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                      | PURCHASED ZAR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | ZA        |            1 | NC      | $-101476.52   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UNITED AIRLINES HOLDINGS                                         | United Airlines Holdings Inc                                                     | CUSIP: 910047AL3<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |       407000 | PA      | $401144.85    | 0.00%             | 2031-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Bank of America NA                                               | PURCHASED USD / SOLD ZAR                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |            1 | NC      | $1499479.87   | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2025-DSC2                         | CUSIP: 61778XAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1500000 | PA      | $1506613.95   | 0.01%             | 2070-07-25      | Variable      | 7.10%                 | No            |                  2 | On Loan: No      |
| DBMS                                                             | DBMS 2025-1 DAC                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |      4129000 | PA      | $5613962.09   | 0.03%             | 2036-02-18      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |            1 | NC      | $-49689.97    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| STANDARD CHARTERED PLC                                           | Standard Chartered PLC                                                           | CUSIP: 853254DH0<br>LEI: U4LOSYZ7YG4W3S5F2G91 | Long             | DBT              | CORP              | GB        |      6000000 | PA      | $6091675.20   | 0.04%             | 2035-11-14      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| BHMS Mortgage Trust                                              | BHMS Commercial Mortgage Trust 2025-ATLS                                         | CUSIP: 088928AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16846000 | PA      | $16867057.50  | 0.10%             | 2042-08-15      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| State Street Bank & Trust Co.                                    | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: 571474TGEMMWANRLN572 | N/A              | DFE              |  | US        |            1 | NC      | $-799500.77   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Trevise Holdings 1 SAS                                           | Trevise Holdings 1 SAS 2025 EUR Term Loan B                                      | CUSIP: 000000000<br>LEI: 96950002G854EUTZO904 | Long             | LON              | CORP              | FR        |      1000000 | PA      | $1182663.32   | 0.01%             | 2029-07-09      | Floating      | 5.76%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                        | Block Inc                                                                        | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |      2413000 | PA      | $2415434.72   | 0.01%             | 2030-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Elstree Funding                                                  | Elstree 2026-1 Mix PLC                                                           | CUSIP: 000000000<br>LEI: 213800GBXBLN9YSO6I96 | Long             | ABS-MBS          | CORP              | GB        |      4710000 | PA      | $6411688.42   | 0.04%             | 2066-09-21      | Floating      | 4.58%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-NQM5 Trust                                                             | CUSIP: 69383FAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10544469 | PA      | $10527634.85  | 0.06%             | 2070-10-25      | Variable      | 5.18%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 000000000<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      2500000 | PA      | $2894622.10   | 0.02%             | 2036-12-18      | Fixed         | 3.98%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | Ares LXVI CLO Ltd                                                                | CUSIP: 04019RBE0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |      2675000 | PA      | $2680450.58   | 0.02%             | 2038-10-25      | Floating      | 4.94%                 | No            |                  2 | On Loan: No      |
| Pepper Residential Securities Trust                              | Pepper Prime 2025-1 Trust                                                        | CUSIP: 000000000<br>LEI: 984500E40EDT6B13R494 | Long             | ABS-MBS          | CORP              | AU        |       540000 | PA      | $384671.54    | 0.00%             | 2067-04-12      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2025-1                                                    | CUSIP: 52604QAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5895000 | PA      | $5934181.71   | 0.04%             | 2034-09-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: OIS 2.945000 30-MAR-2056 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1595484674 | OU      | $-354762.39   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BONOS Y OBLIG DEL ESTADO                                         | Spain Government Bond                                                            | CUSIP: 000000000<br>LEI: 9598007A56S18711AH60 | Long             | DBT              | NUSS              | ES        |    108123000 | PA      | $124694297.69 | 0.74%             | 2031-05-31      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Bethpage Park CLO LTD                                            | Bethpage Park CLO Ltd                                                            | CUSIP: 087598AA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1000293.30   | 0.01%             | 2035-01-15      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| IPD 3 BV                                                         | IPD 3 BV                                                                         | CUSIP: 000000000<br>LEI: 724500RBP2J59JMQB629 | Long             | DBT              | CORP              | NL        |     10452000 | PA      | $11732328.93  | 0.07%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 9.255000 18-NOV-2026 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     62232445 | OU      | $57363.18     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| College Ave Student Loans                                        | College Ave Student Loans 2021-A LLC                                             | CUSIP: 19424KAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       285870 | PA      | $262095.82    | 0.00%             | 2051-07-25      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                   | Palmer Square Loan Funding 2025-3 Ltd                                            | CUSIP: 696918AG6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $979208.98    | 0.01%             | 2034-01-15      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2024-RCF5 LLC                                                               | CUSIP: 69381JAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2250000 | PA      | $2116083.15   | 0.01%             | 2054-08-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| BANK HAPOALIM                                                    | Bank Hapoalim BM                                                                 | CUSIP: 000000000<br>LEI: B6ARUI4946ST4S7WOU88 | Long             | DBT              | CORP              | IL        |       213000 | PA      | $210725.16    | 0.00%             | 2029-07-14      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| MC BRAZIL DWNSTRM                                                | MC Brazil Downstream Trading SARL                                                | CUSIP: 000000000<br>LEI: 213800T2A7R9TYNXZI63 | Long             | DBT              | CORP              | LU        |       769337 | PA      | $719714.89    | 0.00%             | 2031-06-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| LUX 2023-LION                                                    | LUX 2023-LION                                                                    | CUSIP: 55067LAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       882000 | PA      | $886235.89    | 0.01%             | 2040-08-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust                              | GS Mortgage-Backed Securities Trust 2025-NQM5                                    | CUSIP: 36273GAA6<br>LEI: 254900MQ3DUBXKU1DC81 | Long             | ABS-MBS          | CORP              | US        |     12109719 | PA      | $12033964.62  | 0.07%             | 2065-07-25      | Variable      | 5.01%                 | No            |                  2 | On Loan: No      |
| QSRP Finco BV                                                    | QSRP Finco BV 2025 EUR 1st Lien Term Loan B                                      | CUSIP: 000000000<br>LEI: 894500AXJRZ3TICBD793 | Long             | LON              | CORP              | BE        |      1000000 | PA      | $1165093.78   | 0.01%             | 2031-06-19      | Floating      | 5.91%                 | No            |                  2 | On Loan: No      |
| MEX BONOS DESARR FIX RT                                          | Mexican Bonos                                                                    | CUSIP: 000000000<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |    402081400 | PA      | $23209130.00  | 0.14%             | 2029-03-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: OIS 2.881000 30-MAR-2056 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   1598453229 | OU      | $-486416.66   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCQ4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      6500000 | PA      | $5820295.00   | 0.03%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Freddiemac Strip                                                 | Freddie Mac Strips                                                               | CUSIP: 3133Q3LJ8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      2332138 | PA      | $2357340.12   | 0.01%             | 2054-05-25      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| JPMorgan Chase Bank NA                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 7H6GLXDRUGQFU57RNE97 | N/A              | DFE              |  | US        |            1 | NC      | $551700.71    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2025-B                                                 | CUSIP: 64032BAB9<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      8232919 | PA      | $8216785.42   | 0.05%             | 2055-05-17      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| BEIGNET INVESTOR LLC                                             | Beignet Investor LLC                                                             | CUSIP: 076912AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     47214000 | PA      | $48759840.66  | 0.29%             | 2049-05-30      | Fixed         | 6.58%                 | No            |                  2 | On Loan: —       |
| MEHILAINEN YHTIOT OY                                             | Mehilainen Yhtiot Oy                                                             | CUSIP: 000000000<br>LEI: 2138006X78HGYRHS5865 | Long             | DBT              | CORP              | FI        |       896000 | PA      | $1057508.25   | 0.01%             | 2032-06-30      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| SNF GROUP SACA                                                   | SNF Group SACA                                                                   | CUSIP: 000000000<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |      6000000 | PA      | $7141338.74   | 0.04%             | 2032-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2024-H1 Mortgage Trust                                                     | CUSIP: 22757AAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       581525 | PA      | $584306.48    | 0.00%             | 2068-12-25      | Variable      | 6.09%                 | No            |                  2 | On Loan: No      |
| FTA Santander Consumer Spain                                     | FT Santander Consumer Spain Auto 2025-1                                          | CUSIP: 000000000<br>LEI: 959800A0WHZF6A5Q2R29 | Long             | ABS-O            | CORP              | ES        |        93997 | PA      | $110553.14    | 0.00%             | 2043-09-17      | Floating      | 3.35%                 | No            |                  2 | On Loan: No      |
| NAVOI MINING METALLURGIC                                         | Navoi Mining & Metallurgical Combinat                                            | CUSIP: 63890CAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | UZ        |      1903000 | PA      | $1981498.75   | 0.01%             | 2030-05-14      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BRACKEN MIDCO ONE                                                | Bracken MidCo1 PLC                                                               | CUSIP: 000000000<br>LEI: 213800AFGHKES7J58805 | Long             | DBT              | CORP              | GB        |      4038567 | PA      | $5486705.65   | 0.03%             | 2027-11-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | BR        |            1 | NC      | $856934.71    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BFLD Trust                                                       | BFLD Trust 2025-EWEST                                                            | CUSIP: 05494JAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1210000 | PA      | $1205476.29   | 0.01%             | 2042-06-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Boca Commercial Mortgage Trust                                   | BOCA Commercial Mortgage Trust 2025-BOCA                                         | CUSIP: 05619RAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     13350000 | PA      | $13366687.50  | 0.08%             | 2042-12-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2022-NQM1 Trust                                                              | CUSIP: 67114VAB9<br>LEI: 25490010LUJWFEUCIH44 | Long             | ABS-MBS          | CORP              | US        |      1260000 | PA      | $1008673.47   | 0.01%             | 2061-11-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL                                           | Brazil Letras do Tesouro Nacional                                                | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    400787000 | PA      | $76571053.22  | 0.45%             | 2026-10-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM1                         | CUSIP: 617932AF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1830084 | PA      | $1846656.69   | 0.01%             | 2069-11-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2022-VII Ltd                                                        | CUSIP: 12569EAW7<br>LEI: 549300O8WGQU5B6HEB94 | Long             | ABS-CBDO         | CORP              | KY        |       730000 | PA      | $731861.79    | 0.00%             | 2038-01-22      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: CZK 3.741000 18-MAR-2031 PRI                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     66327143 | OU      | $-89424.14    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2025-IV Ltd                                                         | CUSIP: 12575MAA9<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1002526.60   | 0.01%             | 2038-10-24      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XXXV Ltd                                                    | CUSIP: 55819MBC9<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |     10250000 | PA      | $10255121.93  | 0.06%             | 2039-02-13      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| GCAT                                                             | GCAT 2025-INV2 Trust                                                             | CUSIP: 36173QAA5<br>LEI: 254900KVL1UYCCX9U836 | Long             | ABS-MBS          | CORP              | US        |      9074517 | PA      | $9178375.31   | 0.05%             | 2055-05-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                                              | NCL Corp Ltd                                                                     | CUSIP: 62886HBR1<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |      5190000 | PA      | $5164536.35   | 0.03%             | 2032-02-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF ANGOLA                                               | Angolan Government International Bond                                            | CUSIP: 000000000<br>LEI: 549300QHR2R3J8JSGK83 | Long             | DBT              | NUSS              | AO        |      2553000 | PA      | $2723412.75   | 0.02%             | 2031-01-15      | Fixed         | 9.24%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                | Iron Mountain Inc                                                                | CUSIP: 46284VAQ4<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |       469000 | PA      | $476263.40    | 0.00%             | 2033-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Chicago Mercantile Exchange                                      | SWP: BRL 13.375000 03-JAN-2028 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    550000000 | OU      | $-726222.56   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 3.844800 17-NOV-2027 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |      2225600 | OU      | $4092.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2024-2 DAC                                             | CUSIP: 000000000<br>LEI: 635400WJJIABFKEPEL72 | Long             | ABS-O            | CORP              | IE        |       206614 | PA      | $246475.20    | 0.00%             | 2034-10-18      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       200000 | PA      | $196907.82    | 0.00%             | 2027-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SC GERMANY CONSUMER                                              | SC Germany SA Compartment Consumer 2024-2                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       600000 | PA      | $704683.45    | 0.00%             | 2038-05-14      | Floating      | 3.10%                 | No            |                  2 | On Loan: No      |
| ALPHABET INC                                                     | Alphabet Inc                                                                     | CUSIP: 000000000<br>LEI: 5493006MHB84DD0ZWV18 | Long             | DBT              | CORP              | US        |      6630000 | PA      | $8353032.16   | 0.05%             | 2126-02-13      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Valeo F1 Company Limited (Ireland)                               | Valeo F1 Company Limited (Ireland) 2026 EUR Term Loan B                          | CUSIP: 000000000<br>LEI: 259400O9OX5WFOBC8C47 | Long             | LON              | CORP              | GB        |      3000000 | PA      | $3465001.18   | 0.02%             | 2031-09-30      | Floating      | 6.50%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                                           | Canyon Capital CLO 2022-2 Ltd                                                    | CUSIP: 13877LAS5<br>LEI: 254900FXDN97BW4YMK55 | Long             | ABS-CBDO         | CORP              | JE        |      2835000 | PA      | $2835781.89   | 0.02%             | 2038-04-15      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO 2018-3 Ltd                                                      | CUSIP: 09630AAS5<br>LEI: 549300NUS8PQQUZMPR50 | Long             | ABS-CBDO         | CORP              | KY        |      1650000 | PA      | $1655269.77   | 0.01%             | 2030-10-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                         | Ford Motor Credit Co LLC                                                         | CUSIP: 000000000<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |      4400000 | PA      | $5252447.58   | 0.03%             | 2027-08-03      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                                         | LCM Investments Holdings II LLC                                                  | CUSIP: 50190EAA2<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |       380000 | PA      | $372038.70    | 0.00%             | 2029-05-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                                        | Ball Corp                                                                        | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |        80000 | PA      | $72769.82     | 0.00%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BARDOT CLO LTD                                                   | Bardot CLO Ltd                                                                   | CUSIP: 06744NBQ9<br>LEI: 549300KP12IHV6MTDK86 | Long             | ABS-CBDO         | CORP              | KY        |       812019 | PA      | $811268.94    | 0.00%             | 2032-10-22      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| SPRUCE HILL MORTGAGE LOAN TRUST                                  | Spruce Hill Mortgage Loan Trust 2020-SH1                                         | CUSIP: 85209FAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      5020000 | PA      | $4764721.96   | 0.03%             | 2050-01-28      | Variable      | 4.68%                 | No            |                  2 | On Loan: No      |
| SC GERMANY CONSUMER                                              | SC Germany SA Compartment Consumer 2025-2                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | LU        |       800000 | PA      | $934287.12    | 0.01%             | 2038-12-15      | Floating      | 3.15%                 | No            |                  2 | On Loan: No      |
| Ace Securities Corp.                                             | ACE Securities Corp Home Equity Loan Trust Series 2005-AG1                       | CUSIP: 004427CD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1791689 | PA      | $1601958.07   | 0.01%             | 2035-08-25      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                            | Palmer Square CLO 2022-3 Ltd                                                     | CUSIP: 69690AAW7<br>LEI: 5493000CAZ8VWJGUOH13 | Long             | ABS-CBDO         | CORP              | JE        |       250000 | PA      | $250831.80    | 0.00%             | 2037-07-20      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Asset-Backed European Securitisation Transaction                 | Asset-Backed European Securitisation Transaction Twenty-Five Srl                 | CUSIP: 000000000<br>LEI: 8156006F7517955B5E95 | Long             | ABS-O            | CORP              | IT        |        99014 | PA      | $116840.85    | 0.00%             | 2039-11-15      | Floating      | 6.00%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                                             | FS Rialto 2025-FL10 Issuer LLC                                                   | CUSIP: 30340KAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |      7370000 | PA      | $7349215.13   | 0.04%             | 2042-08-19      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2026-1                                                    | CUSIP: 52603KAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3668000 | PA      | $3667296.84   | 0.02%             | 2035-11-20      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED USD / SOLD PEN                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |            1 | NC      | $-36245.45    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-AIR2                                           | CUSIP: 05613QAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6042835 | PA      | $6054165.23   | 0.04%             | 2041-10-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Hermitage Plc                                                    | Hermitage 2025 PLC                                                               | CUSIP: 000000000<br>LEI: 635400MSBHAPT1EQBW93 | Long             | ABS-O            | CORP              | GB        |        96193 | PA      | $132707.92    | 0.00%             | 2033-04-21      | Floating      | 6.94%                 | No            |                  2 | On Loan: No      |
| LCM 32 Ltd                                                       | LCM 32 Ltd                                                                       | CUSIP: 50204AAE6<br>LEI: 549300PWEMQKJMMXR454 | Long             | ABS-CBDO         | CORP              | KY        |      1250000 | PA      | $1252558.88   | 0.01%             | 2034-07-20      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                                          | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              |  | US        |      7927000 | PA      | $9075693.47   | 0.05%             | 2026-10-15      | Fixed         | 0.99%                 | No            |                  2 | On Loan: No      |
| NRTH PARK Mortgage Trust                                         | NRTH Commercial Mortgage Trust 2025-PARK                                         | CUSIP: 669985AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11031000 | PA      | $11024113.35  | 0.07%             | 2040-10-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                                   | Long Beach Mortgage Loan Trust 2006-2                                            | CUSIP: 542514TQ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       103612 | PA      | $91207.09     | 0.00%             | 2046-03-25      | Floating      | 4.13%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                                              | Century Communities Inc                                                          | CUSIP: 156504AM4<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |       126000 | PA      | $119319.02    | 0.00%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                  | SWAP/CDSWAP/ICE: (CDX.NA.HY.44.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |     14064930 | OU      | $-1154140.92  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Carrington Mortgage Loan Trust                                   | Carrington Mortgage Loan Trust Series 2006-RFC1                                  | CUSIP: 14453EAF9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1234190 | PA      | $1093825.47   | 0.01%             | 2036-05-25      | Floating      | 4.20%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                         | Celanese US Holdings LLC                                                         | CUSIP: 15089QAZ7<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |        18000 | PA      | $18412.63     | 0.00%             | 2030-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| CESAR SPA                                                        | Cesar Spa                                                                        | CUSIP: 000000000<br>LEI: 815600136D7200E49057 | Long             | DBT              | CORP              | IT        |      6288000 | PA      | $7457955.09   | 0.04%             | 2031-09-30      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Brant Point CLO Ltd                                              | Brant Point CLO 2025-9 Ltd                                                       | CUSIP: 10490AAE3<br>LEI: 254900SZ0H5JXJT6M054 | Long             | ABS-CBDO         | CORP              | KY        |      1050000 | PA      | $1053336.48   | 0.01%             | 2039-01-20      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                         | Republic of South Africa Government International Bond                           | CUSIP: 836205BJ2<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |       468000 | PA      | $440856.00    | 0.00%             | 2055-12-11      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| RANGE RESOURCES CORP                                             | Range Resources Corp                                                             | CUSIP: 75281ABK4<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |       300000 | PA      | $294347.79    | 0.00%             | 2030-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                                                      | Avient Corp                                                                      | CUSIP: 05368VAB2<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |       411000 | PA      | $416969.01    | 0.00%             | 2031-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ORL TRUST                                                        | ORL Trust 2024-GLKS                                                              | CUSIP: 67120DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4400000 | PA      | $4406875.00   | 0.03%             | 2039-12-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | SWP: OIS 1.386000 30-MAR-2028 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   5594928653 | OU      | $-47246.43    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2020-H                                 | CUSIP: 63942AAA4<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |       605798 | PA      | $555907.53    | 0.00%             | 2069-04-15      | Fixed         | 1.33%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HFLW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      8171637 | PA      | $8218428.81   | 0.05%             | 2054-09-25      | Floating      | 4.65%                 | No            |                  2 | On Loan: No      |
| Oman Government International Bonds                              | Oman Government International Bonds                                              | CUSIP: 000000000<br>LEI: 549300SZ20F0QTKNQC75 | Long             | DBT              | NUSS              | OM        |      1108000 | PA      | $1207409.76   | 0.01%             | 2048-01-17      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GSAMP Trust                                                      | GSAMP Trust 2006-HE4                                                             | CUSIP: 362439AF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1350000 | PA      | $1173602.39   | 0.01%             | 2036-06-25      | Floating      | 4.22%                 | No            |                  2 | On Loan: No      |
| SK INVICTUS INTERMEDIATE                                         | SK Invictus Intermediate II Sarl                                                 | CUSIP: 29977LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |      1595000 | PA      | $1571712.36   | 0.01%             | 2029-10-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                                              | BWAY 2013-1515 Mortgage Trust                                                    | CUSIP: 05604FAS4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $854743.40    | 0.01%             | 2033-03-10      | Variable      | 4.06%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                                           | Mosaic Solar Loan Trust 2021-2                                                   | CUSIP: 61946RAA7<br>LEI: 549300ZLA8SW2SVJMN33 | Long             | ABS-O            | CORP              | US        |       259837 | PA      | $213667.67    | 0.00%             | 2047-04-22      | Fixed         | 1.64%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 3.970000 17-SEP-2027 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     35824884 | OU      | $-151003.10   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Elmwood CLO 29 Ltd                                               | Elmwood CLO 29 Ltd                                                               | CUSIP: 289913AC9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2145000 | PA      | $2147312.31   | 0.01%             | 2037-04-20      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                      | OCP Clo 2019-17 Ltd                                                              | CUSIP: 67113LAY2<br>LEI: 2549003HLFPQ7ATPYA23 | Long             | ABS-CBDO         | CORP              | KY        |       500000 | PA      | $502258.55    | 0.00%             | 2037-07-20      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| ENI SPA                                                          | Eni SpA                                                                          | CUSIP: 000000000<br>LEI: BUCRF72VH5RBN7X3VL35 | Long             | DBT              | CORP              | IT        |      8730000 | PA      | $9967973.86   | 0.06%             | 2032-01-19      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Octagon 75 Ltd                                                   | Octagon 75 Ltd                                                                   | CUSIP: 67579EAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2001600.60   | 0.01%             | 2038-01-22      | Floating      | 4.86%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2024-RCF3 LLC                                                               | CUSIP: 74390BAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $2920254.90   | 0.02%             | 2054-05-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| BRITISH TELECOMMUNICATIO                                         | British Telecommunications PLC                                                   | CUSIP: 000000000<br>LEI: 549300OWFMSO9NYV4H90 | Long             | DBT              | CORP              | GB        |      6996000 | PA      | $10007673.15  | 0.06%             | 2083-12-20      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 40 Ltd                                               | Elmwood CLO 40 Ltd                                                               | CUSIP: 29004FAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3004449.90   | 0.02%             | 2038-03-22      | Floating      | 4.92%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2024-CCM1                                               | CUSIP: 46658NAT4<br>LEI: 529900ELA1S09AZO9Q54 | Long             | ABS-MBS          | CORP              | US        |      1000013 | PA      | $999348.39    | 0.01%             | 2055-04-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| MACQUARIE BANK LTD                                               | Macquarie Bank Ltd                                                               | CUSIP: 000000000<br>LEI: 4ZHCHI4KYZG2WVRT8631 | Long             | DBT              | CORP              | AU        |      4780000 | PA      | $3428456.75   | 0.02%             | 2036-08-20      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| STILLWATER MINING CO                                             | Stillwater Mining Co                                                             | CUSIP: 000000000<br>LEI: 6354007DPCY4ZN2MRR73 | Long             | DBT              | CORP              | US        |      1731000 | PA      | $1720458.21   | 0.01%             | 2026-11-16      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2025-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400KCWWV87X81YE49 | Long             | ABS-O            | CORP              | GB        |       382602 | PA      | $521915.43    | 0.00%             | 2032-12-20      | Floating      | 5.64%                 | No            |                  2 | On Loan: No      |
| AXIS BANK GANDHINAGAR                                            | Axis Bank Ltd/Gandhinagar                                                        | CUSIP: 000000000<br>LEI: 549300HVNWMJPOFVNI41 | Long             | DBT              | CORP              | IN        |      4500000 | PA      | $4463730.00   | 0.03%             | 2026-09-08      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                      | PRKCM 2025-HOME1                                                                 | CUSIP: 69382FAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2781908 | PA      | $2793826.90   | 0.02%             | 2060-02-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| NSW ELECTRICITY NETWORKS                                         | NSW Electricity Networks Finance Pty Ltd                                         | CUSIP: 000000000<br>LEI: 5493009VPYKFFK7UXM97 | Long             | DBT              | CORP              | AU        |      1900000 | PA      | $1370695.87   | 0.01%             | 2055-11-20      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| Hermitage Plc                                                    | Hermitage 2024 PLC                                                               | CUSIP: 000000000<br>LEI: 635400OUUMGTAI2EJA52 | Long             | ABS-O            | CORP              | GB        |       117759 | PA      | $160467.36    | 0.00%             | 2033-04-21      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| LOTTOMATICA GROUP SPA                                            | Lottomatica Group Spa                                                            | CUSIP: 000000000<br>LEI: 549300R72LKEGT4EX026 | Long             | DBT              | CORP              | IT        |      4205000 | PA      | $5003722.39   | 0.03%             | 2031-01-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| WAYFAIR LLC                                                      | Wayfair LLC                                                                      | CUSIP: 94419NAA5<br>LEI: 549300CTUWTZGOXMYI40 | Long             | DBT              | CORP              | US        |       537000 | PA      | $550303.10    | 0.00%             | 2029-10-31      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO XXXIX Ltd                                            | CUSIP: 081930AJ8<br>LEI: 254900TPMKEES6UQHQ33 | Long             | ABS-CBDO         | CORP              | KY        |      1550000 | PA      | $1546360.76   | 0.01%             | 2038-04-15      | Floating      | 6.22%                 | No            |                  2 | On Loan: No      |
| Ghana Government International Bonds                             | Ghana Government International Bonds                                             | CUSIP: 000000000<br>LEI: 213800PP4399SNNXZ126 | Long             | DBT              | NUSS              | GH        |     17383734 | PA      | $16905680.83  | 0.10%             | 2029-07-03      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 38 Ltd                                                                        | CUSIP: 74988FAA5<br>LEI: 549300V317BEVFPNAZ66 | Long             | ABS-CBDO         | CORP              | KY        |      1125000 | PA      | $1124179.54   | 0.01%             | 2040-04-15      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Providus CLO                                                     | Providus Clo VI DAC                                                              | CUSIP: 000000000<br>LEI: 635400OVFLV2AMKOP534 | Long             | ABS-CBDO         | CORP              | IE        |      1000000 | PA      | $1177410.65   | 0.01%             | 2034-05-20      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                                | Iliad Holding SAS                                                                | CUSIP: 000000000<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |      2637000 | PA      | $3156029.40   | 0.02%             | 2030-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| HUNGARY                                                          | Hungary Government International Bond                                            | CUSIP: 445545AP1<br>LEI: 5299003F3UFKGCCMAP43 | Long             | DBT              | NUSS              | HU        |       856000 | PA      | $869375.00    | 0.01%             | 2029-06-16      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                        | Sunoco LP                                                                        | CUSIP: 86765KAL3<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |      3726000 | PA      | $3809492.21   | 0.02%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2024-1                                                    | CUSIP: 52603DAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1957000 | PA      | $1977064.93   | 0.01%             | 2032-06-21      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                              | Sirius XM Radio LLC                                                              | CUSIP: 82967NBC1<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |      2331000 | PA      | $2314187.20   | 0.01%             | 2029-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FIBERCOP SPA                                                     | Fibercop SpA                                                                     | CUSIP: 000000000<br>LEI: 8156007022402E114A31 | Long             | DBT              | CORP              | IT        |       702000 | PA      | $830302.10    | 0.00%             | 2030-06-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ATLAS LUXCO 4 / ALL UNI                                          | Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl     | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      6572000 | PA      | $8712873.70   | 0.05%             | 2028-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                               | A&D Mortgage Trust 2024-NQM6                                                     | CUSIP: 00249YAC0<br>LEI: 984500E3BD374F778L95 | Long             | ABS-MBS          | CORP              | US        |      8463196 | PA      | $8507495.98   | 0.05%             | 2070-01-25      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                   | CUSIP: 000000000<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      4163000 | PA      | $4898797.80   | 0.03%             | 2035-03-21      | Fixed         | 3.96%                 | No            |                  2 | On Loan: No      |
| Latitude Australia Credit Card Loan Note Trust                   | Latitude Australia Credit Card Master Trust Series 2025-1                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | AU        |      2663000 | PA      | $1919393.79   | 0.01%             | 2037-11-23      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Edenbrook Mortgage Funding Plc                                   | Edenbrook Mortgage Funding PLC                                                   | CUSIP: 000000000<br>LEI: 635400URO7UOS6PWLH17 | Long             | ABS-MBS          | CORP              | GB        |        99231 | PA      | $137503.91    | 0.00%             | 2057-03-22      | Floating      | 6.30%                 | No            |                  2 | On Loan: No      |
| SWORD PURCHASER LLC                                              | SWORD PURCHASER LLC EUR TERM LOAN B                                              | CUSIP: 000000000<br>LEI: 254900S0VY2QTAITBR94 | Long             | LON              | CORP              | US        |      3558824 | PA      | $4093276.42   | 0.02%             | 2033-04-11      | Floating      | 6.40%                 | No            |                  2 | On Loan: No      |
| Domi                                                             | Domi 2026-1 BV                                                                   | CUSIP: 000000000<br>LEI: 724500UGS8H72UZHQ412 | Long             | ABS-MBS          | CORP              | NL        |       534000 | PA      | $623591.53    | 0.00%             | 2057-02-15      | Floating      | 2.89%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | SWP: OIS 13.335000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |      9232778 | OU      | $-34591.94    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Tower Bridge Funding                                             | Tower Bridge Funding 2024-3 PLC                                                  | CUSIP: 000000000<br>LEI: 635400XMA28GDAPK1E69 | Long             | ABS-MBS          | CORP              | GB        |       332913 | PA      | $453249.69    | 0.00%             | 2066-12-20      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| GS FINANCE CORP                                                  | GS Finance Corp                                                                  | CUSIP: 40058WV86<br>LEI: 549300FR80KBVO6DRL61 | Long             | SN               | CORP              | US        |     47090000 | PA      | $44653563.40  | 0.26%             | 2031-01-15      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| Noria                                                            | Noria DE 2024                                                                    | CUSIP: 000000000<br>LEI: 9695003DRUTU793B4N34 | Long             | ABS-O            | CORP              | FR        |       140028 | PA      | $164057.76    | 0.00%             | 2043-02-25      | Floating      | 3.22%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | Colt 2024-7 Mortgage Loan Trust                                                  | CUSIP: 19688YAA2<br>LEI: 213800EA95GXXC9AJO50 | Long             | ABS-MBS          | CORP              | US        |      5812495 | PA      | $5841149.62   | 0.03%             | 2069-12-26      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $5607.41      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                         | OBX 2023-NQM5 Trust                                                              | CUSIP: 673919AD8<br>LEI: 25490010LUJWFEUCIH44 | Long             | ABS-MBS          | CORP              | US        |       850000 | PA      | $848625.47    | 0.01%             | 2063-06-25      | Variable      | 7.39%                 | No            |                  2 | On Loan: No      |
| DEUCE FINCO                                                      | Deuce Finco PLC                                                                  | CUSIP: 000000000<br>LEI: 9845007DA2BC863E8437 | Long             | DBT              | CORP              | GB        |      3895000 | PA      | $4611852.61   | 0.03%             | 2032-11-20      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.044082 17-SEP-2027 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |      9265770 | OU      | $-40918.92    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Affirm Inc                                                       | Affirm Asset Securitization Trust 2025-X1                                        | CUSIP: 00834MAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       220707 | PA      | $220807.48    | 0.00%             | 2030-04-15      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| Autonoria                                                        | AutoNoria Spain 2025 FT                                                          | CUSIP: 000000000<br>LEI: 959800PAVFGQ48YNAE06 | Long             | ABS-O            | CORP              | ES        |        97172 | PA      | $114270.09    | 0.00%             | 2043-04-30      | Floating      | 3.17%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                                     | Barclays Mortgage Loan Trust 2026-NQM4                                           | CUSIP: 06745WAM8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     27604600 | PA      | $28291984.91  | 0.17%             | 2056-05-25      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| Canyon Capital CLO Ltd                                           | Canyon Capital CLO 2021-2 Ltd                                                    | CUSIP: 13876XAG6<br>LEI: 25490032WO5XW3V7KL43 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250546.73    | 0.00%             | 2034-04-15      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                                         | Live Nation Entertainment Inc                                                    | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |      1967000 | PA      | $1961120.44   | 0.01%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust Series 2024-VIS1                                        | CUSIP: 465970AA9<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      1721723 | PA      | $1735432.07   | 0.01%             | 2064-07-25      | Variable      | 5.99%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                                   | ARES1 2024-IND2                                                                  | CUSIP: 04021EAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11970000 | PA      | $11988703.13  | 0.07%             | 2034-10-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| BENIN INTL GOV BOND                                              | Benin Government International Bond                                              | CUSIP: 08205QAA6<br>LEI: 635400Q11P6AE5A5Y230 | Long             | DBT              | NUSS              | BJ        |      1380000 | PA      | $1418812.50   | 0.01%             | 2038-02-13      | Fixed         | 7.96%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                              | COMM 2025-167G Mortgage Trust                                                    | CUSIP: 12674VAL5<br>LEI: 5493004GWEVMOU8S3L34 | Long             | ABS-MBS          | CORP              | US        |      2395000 | PA      | $2376104.41   | 0.01%             | 2040-08-10      | Variable      | 8.47%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.640500 17-DEC-2026 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    675142979 | OU      | $138806.00    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2024-6                                    | CUSIP: 92261BAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       207289 | PA      | $207391.38    | 0.00%             | 2054-12-25      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                             | BlueMountain CLO 2018-2 Ltd                                                      | CUSIP: 09629VAE3<br>LEI: 549300NUS8PQQUZMPR50 | Long             | ABS-CBDO         | CORP              | KY        |       250000 | PA      | $250923.55    | 0.00%             | 2031-08-15      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| Hilton USA Trust                                                 | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL                                          | CUSIP: 403956AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11193000 | PA      | $11193000.00  | 0.07%             | 2037-05-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                                             | WR Grace Holdings LLC                                                            | CUSIP: 92943GAF8<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |      1303000 | PA      | $1293325.62   | 0.01%             | 2032-08-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| LEBANESE REPUBLIC                                                | Lebanon Government International Bond                                            | CUSIP: 000000000<br>LEI: 529900QPC4K9S1KHL354 | Long             | DBT              | NUSS              | LB        |      8993000 | PA      | $2279725.50   | 0.01%             | 2025-02-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Atlas Funding                                                    | Atlas Funding 2025-2 PLC                                                         | CUSIP: 000000000<br>LEI: 213800W2FS9Z1VKVEA38 | Long             | ABS-MBS          | CORP              | GB        |       195000 | PA      | $265244.17    | 0.00%             | 2067-07-20      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| NEXTERA ENERGY CAPITAL                                           | NextEra Energy Capital Holdings Inc                                              | CUSIP: 000000000<br>LEI: UMI46YPGBLUE4VGNNT48 | Long             | DBT              | CORP              | US        |     27100000 | PA      | $30958444.17  | 0.18%             | 2056-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2026-NQM1 Trust                                                             | CUSIP: 74391DAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9428101 | PA      | $9406155.69   | 0.06%             | 2071-02-25      | Variable      | 5.13%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AQ4<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |       963000 | PA      | $980905.06    | 0.01%             | 2032-04-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| LG ELECTRONICS INC                                               | LG Electronics Inc                                                               | CUSIP: 000000000<br>LEI: 988400RMQFTGZIOG0609 | Long             | DBT              | CORP              | KR        |      2866000 | PA      | $2896322.28   | 0.02%             | 2027-04-24      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                              | New Residential Mortgage Loan Trust 2020-NQM1                                    | CUSIP: 64830VAC7<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      1584128 | PA      | $1496559.85   | 0.01%             | 2060-01-26      | Variable      | 2.77%                 | No            |                  2 | On Loan: No      |
| TEVA PHARM FNC NL II                                             | Teva Pharmaceutical Finance Netherlands II BV                                    | CUSIP: 000000000<br>LEI: 549300HSQCIKJAOYIT23 | Long             | DBT              | CORP              | NL        |      3923000 | PA      | $4658051.14   | 0.03%             | 2030-05-09      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL                                           | Brazil Letras do Tesouro Nacional                                                | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    104348000 | PA      | $20615462.74  | 0.12%             | 2026-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Contego CLO DAC                                                  | Contego CLO VII DAC                                                              | CUSIP: 000000000<br>LEI: 549300HTBV5M1YNUW859 | Long             | ABS-CBDO         | CORP              | IE        |      1980000 | PA      | $2303467.34   | 0.01%             | 2038-01-23      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-XL5                                            | CUSIP: 05612GAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      4126179 | PA      | $4130046.97   | 0.02%             | 2041-03-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| MUTHOOT FINANCE LTD                                              | Muthoot Finance Ltd                                                              | CUSIP: 62828M2E0<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |      2376000 | PA      | $2393820.00   | 0.01%             | 2030-03-02      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Henley Funding Ltd.                                              | Henley CLO XII DAC                                                               | CUSIP: 000000000<br>LEI: 635400SQELBB2FR6QN30 | Long             | ABS-CBDO         | CORP              | IE        |       850000 | PA      | $1002502.56   | 0.01%             | 2038-01-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| BARCLAYS PLC                                                     | Barclays PLC                                                                     | CUSIP: 000000000<br>LEI: 213800LBQA1Y9L22JB70 | Long             | DBT              | CORP              | GB        |      1246000 | PA      | $1443008.69   | 0.01%             | 2035-12-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BVEA2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      2525181 | PA      | $2555003.29   | 0.02%             | 2055-03-25      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2025-2                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |      1490000 | PA      | $2028729.54   | 0.01%             | 2033-07-15      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| Visio Trust                                                      | Visio 2020-1R Trust                                                              | CUSIP: 92837MAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |        43149 | PA      | $41847.83     | 0.00%             | 2055-11-25      | Fixed         | 1.31%                 | No            |                  2 | On Loan: No      |
| FTAI AVIATION INVESTORS                                          | FTAI Aviation Investors LLC                                                      | CUSIP: 34960PAE1<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |      5805000 | PA      | $6095110.68   | 0.04%             | 2030-12-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital CLO 15 Ltd                                                     | CUSIP: 03329FAW4<br>LEI: 549300H5Q0HJ2EHSSX26 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2003461.80   | 0.01%             | 2038-07-20      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| OLIN CORP                                                        | Olin Corp                                                                        | CUSIP: 680665AN6<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |      2508000 | PA      | $2484542.93   | 0.01%             | 2033-04-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                                         | Service Properties Trust                                                         | CUSIP: 44106MAX0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |       110000 | PA      | $106654.32    | 0.00%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 43 Ltd                                                                        | CUSIP: 78110AAJ9<br>LEI: 549300V317BEVFPNAZ66 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1003916.10   | 0.01%             | 2039-10-15      | Floating      | 6.05%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                                                | Iliad Holding SAS                                                                | CUSIP: 449691AG9<br>LEI: 9695009BGMXB527HV965 | Long             | DBT              | CORP              | FR        |      3149000 | PA      | $3197034.85   | 0.02%             | 2032-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |      2322000 | PA      | $2557893.45   | 0.02%             | 2029-07-06      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                         | Angel Oak Mortgage Trust 2021-3                                                  | CUSIP: 03465EAB7<br>LEI: 2549009VFCBSE99NTJ29 | Long             | ABS-MBS          | CORP              | US        |      1964182 | PA      | $1718891.58   | 0.01%             | 2066-05-25      | Variable      | 1.31%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-1NYP                               | One New York Plaza Trust 2020-1NYP                                               | CUSIP: 68249DAE9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $957500.00    | 0.01%             | 2036-01-15      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited                  | HOMES 2024-AFC1 Trust                                                            | CUSIP: 403945AC2<br>LEI: 2549009KYOPIDSS2IL61 | Long             | ABS-MBS          | CORP              | US        |      4538988 | PA      | $4546432.46   | 0.03%             | 2059-08-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| Consolidated Communications LLC, Fidium Fiber Finance Holdco LLC | Consolidated Communications LLC/Fidium Fiber Finance Holdco LLC                  | CUSIP: 315961AA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11516000 | PA      | $11607206.72  | 0.07%             | 2055-12-20      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| Terwin Mortgage Trust                                            | Terwin Mortgage Trust Series TMTS 2005-10HE                                      | CUSIP: 881561VF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1322870 | PA      | $1252287.12   | 0.01%             | 2036-06-25      | Floating      | 4.79%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Refi Loan Trust 2020-C                                 | CUSIP: 63941KAB1<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |      2814857 | PA      | $2717971.76   | 0.02%             | 2068-11-15      | Fixed         | 2.15%                 | No            |                  2 | On Loan: No      |
| NATIONAL AUSTRALIA BANK                                          | National Australia Bank Ltd                                                      | CUSIP: 000000000<br>LEI: F8SB4JFBSYQFRQEH3Z21 | Long             | DBT              | CORP              | AU        |      1347000 | PA      | $968531.58    | 0.01%             | 2039-06-06      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| COMMERCIAL METALS CO                                             | Commercial Metals Co                                                             | CUSIP: 201723AS2<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |      1595000 | PA      | $1597666.84   | 0.01%             | 2033-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| QNITY ELECTRONICS INC                                            | Qnity Electronics Inc                                                            | CUSIP: 74743LAA8<br>LEI: 254900RSUG4J9TFFZX53 | Long             | DBT              | CORP              | US        |      1217000 | PA      | $1228708.76   | 0.01%             | 2032-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Wonder Lake Park CLO, Ltd.                                       | Wonder Lake Park CLO Ltd                                                         | CUSIP: 97816WAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5012257.00   | 0.03%             | 2038-07-24      | Floating      | 4.96%                 | No            |                  2 | On Loan: No      |
| NEW IMMO HOLDING SA                                              | New Immo Holding SA                                                              | CUSIP: 000000000<br>LEI: 5493007LOTJ0I8E94R81 | Long             | DBT              | CORP              | FR        |      3100000 | PA      | $3624596.42   | 0.02%             | 2031-04-23      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                                         | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAH9<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |       362000 | PA      | $380271.59    | 0.00%             | 2033-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                             | Westpac Banking Corp                                                             | CUSIP: 000000000<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |      3950000 | PA      | $2759057.87   | 0.02%             | 2041-02-12      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                                         | Graphic Packaging International LLC                                              | CUSIP: 38869AAE7<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |      2015000 | PA      | $2011045.36   | 0.01%             | 2032-07-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2025-3                                                    | CUSIP: 525951AA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6352000 | PA      | $6294154.24   | 0.04%             | 2035-05-21      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| Taurus CMBS                                                      | Taurus 2025-2 UK DAC                                                             | CUSIP: 000000000<br>LEI: 635400ZUSGYHROR9ZX12 | Long             | ABS-MBS          | CORP              | IE        |      1752261 | PA      | $2383244.41   | 0.01%             | 2035-02-18      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Ukraine Government International Bonds                           | Ukraine Government International Bonds                                           | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |        25009 | PA      | $15780.68     | 0.00%             | 2030-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE LUFTHANSA AG                                            | Deutsche Lufthansa AG                                                            | CUSIP: 000000000<br>LEI: 529900PH63HYJ86ASW55 | Long             | DBT              | CORP              | DE        |      9000000 | PA      | $10349477.67  | 0.06%             | 2055-01-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ARCOSA INC                                                       | Arcosa Inc                                                                       | CUSIP: 039653AC4<br>LEI: 549300WFHLTCZV7D6V29 | Long             | DBT              | CORP              | US        |      1400000 | PA      | $1454125.40   | 0.01%             | 2032-08-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Preston Ridge Partners Mortgage Trust                            | PRPM 2025-NQM3 Trust                                                             | CUSIP: 69382NAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3017822 | PA      | $3019126.00   | 0.02%             | 2070-05-25      | Variable      | 6.89%                 | No            |                  2 | On Loan: No      |
| FS Trust                                                         | FS 2026-ORL                                                                      | CUSIP: 30343YAJ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2900000 | PA      | $2899690.28   | 0.02%             | 2041-02-15      | Floating      | 6.90%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                               | CNX Resources Corp                                                               | CUSIP: 12653CAK4<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |      1621000 | PA      | $1670845.75   | 0.01%             | 2031-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| SAPPI PAPIER HOLDNG GMBH                                         | Sappi Papier Holding GmbH                                                        | CUSIP: 000000000<br>LEI: 549300XBCUMUR5CI0181 | Long             | DBT              | CORP              | AT        |      9697000 | PA      | $10217010.43  | 0.06%             | 2032-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Saudi Government International Bonds                             | Saudi Government International Bonds                                             | CUSIP: 000000000<br>LEI: 635400FMICXSM3SI3H65 | Long             | DBT              | NUSS              | SA        |      2937000 | PA      | $2531224.08   | 0.02%             | 2053-01-18      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LAMB WESTON HLD                                                  | Lamb Weston Holdings Inc                                                         | CUSIP: 513272AE4<br>LEI: 5493005SMYID1D2OY946 | Long             | DBT              | CORP              | US        |      1443000 | PA      | $1359088.68   | 0.01%             | 2032-01-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 3.952300 03-NOV-2027 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |       478575 | OU      | $1825.22      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                                           | Cogent Communications Group LLC / Cogent Finance Inc                             | CUSIP: 19240WAB5<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |      4641000 | PA      | $4303831.35   | 0.03%             | 2032-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| ORSTED A/S                                                       | Orsted AS                                                                        | CUSIP: 000000000<br>LEI: W9NG6WMZIYEU8VEDOG48 | Long             | DBT              | CORP              | DK        |      9738000 | PA      | $10253749.90  | 0.06%             | 2099-12-31      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SV VANIR LOGISTICS FINANCE S.A R.L                               | Vanir Logistics Finance Sarl                                                     | CUSIP: 000000000<br>LEI: 636700UXUGBCCF9PA752 | Long             | ABS-MBS          | CORP              | LU        |      1632996 | PA      | $1913456.42   | 0.01%             | 2037-07-23      | Floating      | 3.38%                 | No            |                  2 | On Loan: No      |
| BSTN Commercial Mortgage Trust                                   | BSTN Commercial Mortgage Trust 2025-HUB                                          | CUSIP: 05594GAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1820000 | PA      | $1817033.95   | 0.01%             | 2041-04-13      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-R1                                               | CUSIP: 924926AA6<br>LEI: 213800A8V9BALJ9WKP38 | Long             | ABS-MBS          | CORP              | US        |      5877685 | PA      | $5881670.40   | 0.03%             | 2069-09-25      | Variable      | 5.22%                 | No            |                  2 | On Loan: No      |
| Mortimer BTL Plc                                                 | Mortimer 2024-Mix PLC                                                            | CUSIP: 000000000<br>LEI: 213800F12CZ391USLI51 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $136347.53    | 0.00%             | 2067-09-22      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| WESTPAC BANKING CORP                                             | Westpac Banking Corp                                                             | CUSIP: 000000000<br>LEI: EN5TNI6CI43VEPAMHL14 | Long             | DBT              | CORP              | AU        |      4000000 | PA      | $2759194.66   | 0.02%             | 2040-06-04      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| TUI CRUISES GMBH                                                 | TUI Cruises GmbH                                                                 | CUSIP: 000000000<br>LEI: 529900SVD83QUUIZYY18 | Long             | DBT              | CORP              | DE        |      3837000 | PA      | $4463817.30   | 0.03%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                                       | Affirm Asset Securitization Trust 2025-X1                                        | CUSIP: 00834MAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       563000 | PA      | $563697.11    | 0.00%             | 2030-04-15      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| CRSNT Trust                                                      | CRSNT Trust 2026-MOON                                                            | CUSIP: 12642SAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     14460000 | PA      | $14432961.25  | 0.09%             | 2043-02-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                     | Voya CLO 2015-3 Ltd                                                              | CUSIP: 92913UBJ4<br>LEI: 254900MS3D9HONB0N824 | Long             | ABS-CBDO         | CORP              | KY        |       361780 | PA      | $361786.06    | 0.00%             | 2031-10-20      | Floating      | 4.64%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2021-2                                                    | CUSIP: 52604DAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       945000 | PA      | $889035.21    | 0.01%             | 2032-04-20      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| McDonald's Corp.                                                 | McDonald's Corp.                                                                 | CUSIP: 000000000<br>LEI: UE2136O97NLB5BYP9H04 | Long             | DBT              | CORP              | US        |      4400000 | PA      | $4743066.38   | 0.03%             | 2031-03-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: No      |
| Point Broadband Funding LLC                                      | Point Broadband Funding LLC                                                      | CUSIP: 73052AAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4410000 | PA      | $4428473.49   | 0.03%             | 2055-07-20      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| PMT Loan Trust                                                   | PMT Loan Trust 2024-INV1                                                         | CUSIP: 73015BAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6162410 | PA      | $6149172.83   | 0.04%             | 2059-10-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2026-P1                                   | CUSIP: 92263AAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11987924 | PA      | $11938435.15  | 0.07%             | 2056-03-25      | Variable      | 5.54%                 | No            |                  2 | On Loan: No      |
| GAMMA Sociedade de Titularizacao de Creditos                     | GAMMA Sociedade de Titularizacao de Creditos SA Consumer Totta 3                 | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | PT        |       250239 | PA      | $294528.93    | 0.00%             | 2035-10-25      | Floating      | 3.37%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F022667<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    624239147 | PA      | $522444094.76 | 3.10%             | 2056-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| SAUDI ELECTRICITY SUKUK                                          | Saudi Electricity Sukuk Programme Co                                             | CUSIP: 000000000<br>LEI: 549300KZ4IZK3RMUO096 | Long             | DBT              | CORP              | KY        |      4257000 | PA      | $4119977.81   | 0.02%             | 2053-04-11      | Fixed         | 5.68%                 | No            |                  2 | On Loan: No      |
| Point Broadband Funding LLC                                      | Point Broadband Funding LLC                                                      | CUSIP: 73052AAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2510000 | PA      | $2512890.27   | 0.01%             | 2055-07-20      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                                           | Sequoia Mortgage Trust 2026-5                                                    | CUSIP: 81750TAD0<br>LEI: 549300671OK77JNRLK28 | Long             | ABS-MBS          | CORP              | US        |     16028440 | PA      | $15985038.19  | 0.09%             | 2056-05-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                           | Venture Global LNG Inc                                                           | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      3500000 | PA      | $3649219.00   | 0.02%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| ALBION FINANCING 1SARL /                                         | Albion Financing 1 SARL / Aggreko Holdings Inc                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |     12885000 | PA      | $15399759.37  | 0.09%             | 2030-05-21      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Sunrise Srl                                                      | Sunrise Spv 98 Srl                                                               | CUSIP: 000000000<br>LEI: 81560036AE47FD868675 | Long             | ABS-O            | CORP              | IT        |      2195000 | PA      | $2580622.97   | 0.02%             | 2051-04-27      | Floating      | 3.27%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                | FSWP: OIS 8.690000 17-SEP-2026 IBR                                               | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |    480012126 | OU      | $2399.95      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| SLM CORP                                                         | SLM Corp                                                                         | CUSIP: 78442PGF7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1621000 | PA      | $1636555.12   | 0.01%             | 2030-01-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2024-2                                    | CUSIP: 92259PAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       599802 | PA      | $607521.29    | 0.00%             | 2054-04-25      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                                            | Williams Scotsman Inc                                                            | CUSIP: 96950GAE2<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |       953000 | PA      | $943402.24    | 0.01%             | 2028-08-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Empower CLO Ltd.                                                 | Empower CLO 2023-2 Ltd                                                           | CUSIP: 29247BAN7<br>LEI: 213800DM8ZNUIQ1JCN40 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5012231.00   | 0.03%             | 2038-10-15      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| NOVELIS CORP                                                     | Novelis Corp                                                                     | CUSIP: 670001AE6<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |      5842000 | PA      | $5586412.50   | 0.03%             | 2030-01-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEWDAY FUNDING                                                   | Newday Funding Master Issuer PLC - Series 2024-2                                 | CUSIP: 000000000<br>LEI: 213800GBPRAJHSB5YK19 | Long             | ABS-O            | CORP              | GB        |       142000 | PA      | $194687.25    | 0.00%             | 2032-07-15      | Floating      | 6.39%                 | No            |                  2 | On Loan: No      |
| Retained Vantage Data Centers Issuer, LLC                        | Retained Vantage Data Centers Issuer LLC                                         | CUSIP: 76134KAM6<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |      4089000 | PA      | $3988664.94   | 0.02%             | 2050-08-15      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| TRINIDAD & TOBAGO                                                | Trinidad & Tobago Government International Bond                                  | CUSIP: 896292AN9<br>LEI: N/A                  | Long             | DBT              | NUSS              | TT        |       669000 | PA      | $685102.83    | 0.00%             | 2036-01-28      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2023-3 Mortgage Loan Trust                                                  | CUSIP: 19688RAB5<br>LEI: 213800MIPEZY1A8W1N28 | Long             | ABS-MBS          | CORP              | US        |        60932 | PA      | $61219.43     | 0.00%             | 2068-09-25      | Variable      | 7.43%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                            | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAC1<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |      2510000 | PA      | $2388628.30   | 0.01%             | 2031-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| INEOS FINANCE PLC                                                | INEOS Finance PLC                                                                | CUSIP: 44984WAJ6<br>LEI: 2138002D68XDR4LZCG32 | Long             | DBT              | CORP              | GB        |      5378000 | PA      | $5311332.70   | 0.03%             | 2029-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                      | PRKCM 2023-AFC3 Trust                                                            | CUSIP: 693984AE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $999652.10    | 0.01%             | 2058-09-25      | Variable      | 7.77%                 | No            |                  2 | On Loan: No      |
| ODIDO GROUP HOLDING BV                                           | Odido Group Holding BV                                                           | CUSIP: 000000000<br>LEI: 724500FOAL1MNGOJKP07 | Long             | DBT              | CORP              | NL        |      9275000 | PA      | $10830176.26  | 0.06%             | 2030-01-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2025-8 Mortgage Loan Trust                                                  | CUSIP: 19689DAE9<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-MBS          | CORP              | US        |      2670932 | PA      | $2678453.34   | 0.02%             | 2070-08-25      | Variable      | 7.10%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                 | T-Mobile USA Inc                                                                 | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     10190000 | PA      | $9921802.77   | 0.06%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| NCL CORPORATION LTD                                              | NCL Corp Ltd                                                                     | CUSIP: 62886HBG5<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |      1272000 | PA      | $1327868.78   | 0.01%             | 2029-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| DUFRY ONE BV                                                     | Dufry One BV                                                                     | CUSIP: 000000000<br>LEI: 7245003K5MN9U7XW0808 | Long             | DBT              | CORP              | NL        |      7177000 | PA      | $8366651.95   | 0.05%             | 2032-05-23      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ARDAGH METAL PACKAGING                                           | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      5837000 | PA      | $6431224.97   | 0.04%             | 2029-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2025-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400KCWWV87X81YE49 | Long             | ABS-O            | CORP              | GB        |       347899 | PA      | $473985.83    | 0.00%             | 2032-12-20      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                       | Verus Securitization Trust 2024-INV1                                             | CUSIP: 92540FAA8<br>LEI: 9845000FE754F4AE7E70 | Long             | ABS-MBS          | CORP              | US        |      1624857 | PA      | $1636337.34   | 0.01%             | 2069-03-25      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BQF38<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6388342 | PA      | $6432880.41   | 0.04%             | 2054-01-25      | Floating      | 4.70%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                    | JP Morgan Chase Commercial Mortgage Securities Trust 2024-IGLG                   | CUSIP: 46593KAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      6020000 | PA      | $6038303.81   | 0.04%             | 2039-11-09      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| BBVA Consumo FTA                                                 | Bbva Consumer 2026-1 Fondo de Titulizacion                                       | CUSIP: 000000000<br>LEI: 9598008ZNM97MVXBD120 | Long             | ABS-O            | CORP              | ES        |      1300000 | PA      | $1516384.61   | 0.01%             | 2039-05-20      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| McAfee LLC                                                       | McAfee LLC 2024 EUR Term Loan B                                                  | CUSIP: 57906HAC1<br>LEI: 2549009UKR8UEZYVCR93 | Long             | LON              | CORP              | US        |      1598655 | PA      | $1724077.54   | 0.01%             | 2029-03-01      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| BNP PARIBAS                                                      | BNP Paribas SA                                                                   | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | DBT              | CORP              | FR        |     15300000 | PA      | $17717408.19  | 0.11%             | 2034-04-20      | Fixed         | 3.74%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                                              | NOVA Chemicals Corp                                                              | CUSIP: 66977WAV1<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |       100000 | PA      | $105821.80    | 0.00%             | 2031-12-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| TCW Gem Ltd                                                      | TCW CLO 2019-2 Ltd                                                               | CUSIP: 87242BBG4<br>LEI: 549300BD6SSD2EBMCC95 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $751696.43    | 0.00%             | 2038-01-20      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| LOXAM SAS                                                        | Loxam SAS                                                                        | CUSIP: 000000000<br>LEI: 969500BNA2YRNE1R5K91 | Long             | DBT              | CORP              | FR        |     14511000 | PA      | $16757342.54  | 0.10%             | 2031-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| VEON MIDCO BV                                                    | Veon Midco BV                                                                    | CUSIP: 000000000<br>LEI: 213800GOFSH7EPKBRE50 | Long             | DBT              | CORP              | NL        |       687000 | PA      | $668210.55    | 0.00%             | 2027-11-25      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Abu Dhabi Government International Bonds                         | Abu Dhabi Government International Bonds                                         | CUSIP: 000000000<br>LEI: 213800FER4348CINTA77 | Long             | DBT              | NUSS              | AE        |      4322000 | PA      | $4382508.00   | 0.03%             | 2029-04-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Sixth Street CLO XVI, LTD.                                       | Sixth Street CLO XXII Ltd                                                        | CUSIP: 83011LAJ5<br>LEI: 2549009LM706L5P4IH84 | Long             | ABS-CBDO         | CORP              | KY        |      8000000 | PA      | $7993208.00   | 0.05%             | 2038-04-21      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                                             | SCG Commercial Mortgage Trust 2025-DLFN                                          | CUSIP: 78398EAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7410000 | PA      | $7411657.62   | 0.04%             | 2035-03-15      | Floating      | 6.60%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO IV Ltd                                               | CUSIP: 08180FCN9<br>LEI: 5493002BNZCV0YE1MG83 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3001296.60   | 0.02%             | 2038-10-20      | Floating      | 6.33%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.080000 17-DEC-2030 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     23236950 | OU      | $119100.82    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer III, LLC                              | Compass Datacenters Issuer III LLC                                               | CUSIP: 20469BAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4024000 | PA      | $4000272.48   | 0.02%             | 2056-02-25      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| Fortuna Consumer Loan ABS                                        | Fortuna Consumer Loan Abs 2024-2 DAC                                             | CUSIP: 000000000<br>LEI: 635400WJJIABFKEPEL72 | Long             | ABS-O            | CORP              | IE        |       206614 | PA      | $243232.35    | 0.00%             | 2034-10-18      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| London Wall Mortgage Capital                                     | London Wall Mortgage Capital PLC                                                 | CUSIP: 000000000<br>LEI: 213800QSO8J75OTK5919 | Long             | ABS-MBS          | CORP              | GB        |       378492 | PA      | $515792.92    | 0.00%             | 2057-05-15      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Tikehau                                                          | Tikehau CLO XII DAC                                                              | CUSIP: 000000000<br>LEI: 635400XEDWHMLUXZJY76 | Long             | ABS-CBDO         | CORP              | IE        |      1300000 | PA      | $1533210.21   | 0.01%             | 2038-10-20      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| Noria                                                            | FCT Noria 2025                                                                   | CUSIP: 000000000<br>LEI: 5493003C5ECZD3NDSV63 | Long             | ABS-O            | CORP              | FR        |       100000 | PA      | $117098.67    | 0.00%             | 2043-07-25      | Floating      | 3.12%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank AG                                                 | PURCHASED RON / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | N/A              | DFE              |  | RO        |            1 | NC      | $-200941.21   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| REPUBLIC OF NIGERIA                                              | Nigeria Government International Bond                                            | CUSIP: 65412AFD9<br>LEI: 549300GSBZD84TNEQ285 | Long             | DBT              | NUSS              | NG        |       734000 | PA      | $877313.50    | 0.01%             | 2034-12-09      | Fixed         | 10.38%                | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust                              | Starwood Mortgage Residential Trust 2021-2                                       | CUSIP: 85573HAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       500000 | PA      | $464449.90    | 0.00%             | 2065-05-25      | Variable      | 2.18%                 | No            |                  2 | On Loan: No      |
| Hops Hill                                                        | Hops Hill NO 5 PLC                                                               | CUSIP: 000000000<br>LEI: 635400LDVC1LDKJUB342 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $136229.28    | 0.00%             | 2056-06-21      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                   | Morgan Stanley                                                                   | CUSIP: 61744YAP3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      3270000 | PA      | $3228732.93   | 0.02%             | 2029-01-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: —       |
| LQR Trust                                                        | LQR Trust 2025-CALI                                                              | CUSIP: 50216WAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      7320000 | PA      | $7319926.73   | 0.04%             | 2043-01-15      | Floating      | 7.60%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | Deutsche Bank AG                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |      2800000 | PA      | $3318871.00   | 0.02%             | 2034-10-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| GOHL CAPITAL HOLDINGS                                            | Gohl Capital Holdings Ltd                                                        | CUSIP: 000000000<br>LEI: 2549009G9UNIMCATM603 | Long             | DBT              | CORP              | IM        |      3792000 | PA      | $3755065.92   | 0.02%             | 2031-10-29      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 4.078000 12-DEC-2055 SOF                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    296000000 | OU      | $-6475986.71  | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| AUST & NZ BANKING GROUP                                          | Australia & New Zealand Banking Group Ltd                                        | CUSIP: 000000000<br>LEI: JHE42UYNWWTJB8YTTU19 | Long             | DBT              | CORP              | AU        |      3000000 | PA      | $2155228.46   | 0.01%             | 2037-02-23      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| HSBC BANK PLC                                                    | USD C ZAR P @17.50000 EO                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | KY        |    -14185000 | OU      | $-17929.84    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| DEEPOCEAN LTD                                                    | Deepocean Ltd                                                                    | CUSIP: 000000000<br>LEI: 213800OYKN2J6ZFIFU40 | Long             | DBT              | CORP              | JE        |     13380000 | PA      | $16058638.97  | 0.10%             | 2031-04-08      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.772500 14-NOV-2029 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     11014576 | OU      | $2387.10      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2024-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400IRBWDPWKGK1C24 | Long             | ABS-O            | CORP              | GB        |       100000 | PA      | $137044.64    | 0.00%             | 2031-08-20      | Floating      | 6.09%                 | No            |                  2 | On Loan: No      |
| NWL CO LLC                                                       | NWL CO LLC Term Loan                                                             | CUSIP: 000000000<br>LEI: 549300HRO948GS50PS85 | Long             | LON              | CORP              | US        |      3200000 | PA      | $3170032.00   | 0.02%             | 2031-03-09      | Floating      | 9.67%                 | No            |                  3 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | Lendingclub Rated Notes Issuer Trust Series 2026-P1                              | CUSIP: 52611WAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       467080 | PA      | $433545.21    | 0.00%             | 2037-08-15      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2025-VIS3                                               | CUSIP: 46594EAC8<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |     14276640 | PA      | $14239038.60  | 0.08%             | 2066-02-25      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED PEN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | PE        |            1 | NC      | $27444.80     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Sirius Logistics                                                 | Sirius Logistics 2026-1 UK DAC                                                   | CUSIP: 000000000<br>LEI: 9845000F71BA3AD49D17 | Long             | ABS-MBS          | CORP              | IE        |      3502000 | PA      | $4755848.18   | 0.03%             | 2035-11-17      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Ukraine Government International Bonds                           | Ukraine Government International Bonds                                           | CUSIP: 000000000<br>LEI: 6354001WLTJXOMEXPY07 | Long             | DBT              | NUSS              | UA        |       149806 | PA      | $91381.66     | 0.00%             | 2034-02-01      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                   | Bombardier Inc                                                                   | CUSIP: 097751BZ3<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |      1276000 | PA      | $1325494.76   | 0.01%             | 2029-02-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                                      | Gap Inc/The                                                                      | CUSIP: 364760AP3<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |      2386000 | PA      | $2251133.88   | 0.01%             | 2029-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                    | JP Morgan Chase Commercial Mortgage Securities Trust 2024-IGLG                   | CUSIP: 46593KAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3450000 | PA      | $3442265.86   | 0.02%             | 2039-11-09      | Variable      | 6.70%                 | No            |                  2 | On Loan: No      |
| CHI Commercial Mortgage Trust                                    | CHI Commercial Mortgage Trust 2025-110W                                          | CUSIP: 12577HAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9708000 | PA      | $9653923.53   | 0.06%             | 2040-12-13      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                                          | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BK2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      5315000 | PA      | $5343536.24   | 0.03%             | 2032-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| Atos SE                                                          | Atos SE EUR Term Loan B                                                          | CUSIP: 000000000<br>LEI: 5493001EZOOA66PTBR68 | Long             | LON              | CORP              | FR        |      3126601 | PA      | $3740172.74   | 0.02%             | 2030-12-17      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| HSBC Bank PLC                                                    | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | MX        |            1 | NC      | $-5010.40     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Pony                                                             | Pony SA                                                                          | CUSIP: 000000000<br>LEI: 2221001FWHVHKUW4NQ77 | Long             | ABS-O            | CORP              | LU        |       788358 | PA      | $926010.34    | 0.01%             | 2033-01-14      | Floating      | 2.52%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital CLO 19 Ltd                                                     | CUSIP: 03328JAL1<br>LEI: 549300ZNOS7Q8W8H3S38 | Long             | ABS-CBDO         | CORP              | KY        |      2000000 | PA      | $2005045.60   | 0.01%             | 2038-10-15      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AY0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       530000 | PA      | $527901.09    | 0.00%             | 2030-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CITYCON TREASURY BV                                              | Citycon Treasury BV                                                              | CUSIP: 000000000<br>LEI: 549300WAE0CGQ0IE1H63 | Long             | DBT              | CORP              | NL        |      2475000 | PA      | $2722600.85   | 0.02%             | 2031-07-08      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: PLN 4.082000 17-DEC-2030 WIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     23589025 | OU      | $120325.66    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      4584000 | PA      | $4510013.78   | 0.03%             | 2029-06-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CIRSA FINANCE INTER                                              | Cirsa Finance International Sarl                                                 | CUSIP: 000000000<br>LEI: 254900KUJN6DHWH2K029 | Long             | DBT              | CORP              | LU        |      4886000 | PA      | $5917795.55   | 0.04%             | 2029-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Citibank NA                                                      | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | BR        |            1 | NC      | $897781.68    | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| SOFTBANK GROUP CORP                                              | SoftBank Group Corp                                                              | CUSIP: 000000000<br>LEI: 5493003BZYYYCDIO0R13 | Long             | DBT              | CORP              | JP        |      7050000 | PA      | $7954015.18   | 0.05%             | 2032-07-08      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2025-2 PLC                                              | CUSIP: 000000000<br>LEI: 213800WUDDAGMT94UJ09 | Long             | ABS-MBS          | CORP              | GB        |       336000 | PA      | $457649.01    | 0.00%             | 2068-01-17      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                                | Rakuten Group Inc                                                                | CUSIP: 75102WAB4<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |      2919000 | PA      | $2754438.34   | 0.02%             | 2031-04-22      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | USD C MXN P @18.05000 EO                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | KY        |    -35595340 | OU      | $-2171.32     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO1, LTD                          | Goldentree Loan Management US Clo 10 Ltd                                         | CUSIP: 38138TAY7<br>LEI: 5493007PBV0WMI12LF68 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $752511.00    | 0.00%             | 2037-10-20      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| Japan Housing Finance Agency                                     | Japan Housing Finance Agency/Kiko                                                | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | JP        |     80290000 | PA      | $375470.79    | 0.00%             | 2057-05-10      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| MEDIAN B V                                                       | Median B V 2026 EUR Term Loan B                                                  | CUSIP: 000000000<br>LEI: 724500RPUQI0L3Z5NX16 | Long             | LON              | CORP              | NL        |      2000000 | PA      | $2320892.26   | 0.01%             | 2030-10-14      | Floating      | 7.39%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                           | Cloud Software Group Inc                                                         | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |      2319000 | PA      | $2257908.24   | 0.01%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance Issuance Trust 2021-A                                            | CUSIP: 56848DAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       350000 | PA      | $338331.56    | 0.00%             | 2036-03-20      | Fixed         | 2.33%                 | No            |                  2 | On Loan: No      |
| SAN MIGUEL GLOBAL POWER                                          | San Miguel Global Power Holdings Corp                                            | CUSIP: 000000000<br>LEI: 549300HBCE80QXKII590 | Long             | DBT              | CORP              | PH        |      5127000 | PA      | $5101416.27   | 0.03%             | 2030-10-20      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Golden Bar Securitisation                                        | Golden Bar Securitisation Srl 2025-2                                             | CUSIP: 000000000<br>LEI: 549300GESLGUWWGJRM09 | Long             | ABS-O            | CORP              | IT        |       269438 | PA      | $315260.16    | 0.00%             | 2044-12-22      | Floating      | 3.02%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2025-DSC2                                               | CUSIP: 46659VAG3<br>LEI: 529900SXYOW2J5ABY729 | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $3001151.64   | 0.02%             | 2065-10-25      | Variable      | 6.92%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                 | CIFC Funding 2021-VI Ltd                                                         | CUSIP: 12553SAG9<br>LEI: 2549005S1LQJ8MBPXW05 | Long             | ABS-CBDO         | CORP              | KY        |      1370000 | PA      | $1374817.88   | 0.01%             | 2034-10-15      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2025-1 PLC                                              | CUSIP: 000000000<br>LEI: 6354003DBF3NI8QJRR63 | Long             | ABS-MBS          | CORP              | GB        |       104000 | PA      | $141673.07    | 0.00%             | 2067-05-17      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Clarios Global LP                                                | Clarios Global LP 2024 EUR Term Loan B                                           | CUSIP: 000000000<br>LEI: 549300474L1ZLXZY2P98 | Long             | LON              | CORP              | US        |      1000000 | PA      | $1179154.10   | 0.01%             | 2031-07-16      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| BBVA Consumo FTA                                                 | Bbva Consumer 2026-1 Fondo de Titulizacion                                       | CUSIP: 000000000<br>LEI: 9598008ZNM97MVXBD120 | Long             | ABS-O            | CORP              | ES        |       800000 | PA      | $935737.56    | 0.01%             | 2039-05-20      | Floating      | 7.11%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BS5D3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     12170229 | PA      | $12227111.68  | 0.07%             | 2054-10-25      | Floating      | 4.60%                 | No            |                  2 | On Loan: No      |
| HSBC BANK PLC                                                    | USD C CLP P @905.00 EO                                                           | CUSIP: 000000000<br>LEI: MP6I5ZYZBEU3UXPYFY54 | N/A              | DFE              |  | US        |     -9457000 | OU      | $-87259.74    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| PEAK RE BVI HOLDING LTD                                          | Peak RE Bvi Holding Ltd                                                          | CUSIP: 000000000<br>LEI: 549300KB2UHI8ALPSD62 | Long             | DBT              | CORP              | VG        |      2250000 | PA      | $2257402.50   | 0.01%             | 2030-11-05      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                        | Nelnet Student Loan Trust 2025-C                                                 | CUSIP: 64035UAE8<br>LEI: 5493000EBJ0T2MCM3713 | Long             | ABS-O            | CORP              | US        |      2778000 | PA      | $2707979.12   | 0.02%             | 2065-06-22      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                  | Benefit Street Partners CLO XXIV Ltd                                             | CUSIP: 08182NAJ1<br>LEI: 254900F6RDYGOMBGPF86 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $999964.10    | 0.01%             | 2034-10-20      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                             | SoFi Professional Loan Program 2020-B Trust                                      | CUSIP: 83405FAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1350000 | PA      | $1125336.38   | 0.01%             | 2046-05-15      | Fixed         | 2.73%                 | No            |                  2 | On Loan: No      |
| UBS GROUP AG                                                     | UBS Group AG                                                                     | CUSIP: 000000000<br>LEI: 549300SZJ9VS8SGXAN81 | Long             | DBT              | CORP              | CH        |      2877000 | PA      | $2024692.49   | 0.01%             | 2032-08-13      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| FONDO MIVIVIENDA SA                                              | Fondo MIVIVIENDA SA                                                              | CUSIP: 000000000<br>LEI: 549300X41PNOK11PZ670 | Long             | DBT              | NUSS              | PE        |      1148000 | PA      | $1151179.96   | 0.01%             | 2027-04-12      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                 | Paramount Global                                                                 | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |      1053000 | PA      | $752286.77    | 0.00%             | 2057-02-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Barclays Bank PLC                                                | PURCHASED KRW / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | KR        |            1 | NC      | $-3605.95     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2025-JDI                                            | CUSIP: 05594LAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     14991069 | PA      | $15019177.37  | 0.09%             | 2042-11-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| Port of Beaumont Navigation District                             | PORT BEAUMONT TX NAV DIST DOCK& WHARF FAC REVENUE                                | CUSIP: 73360CAS3<br>LEI: 549300G8PKBXALUKJY33 | Long             | DBT              | MUN               | US        |       870000 | PA      | $870358.70    | 0.01%             | 2026-07-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| Kennedy Lewis CLO Ltd                                            | Kennedy Lewis CLO 20 Ltd                                                         | CUSIP: 370912AA5<br>LEI: 5493009C48K5WG4EX118 | Long             | ABS-CBDO         | CORP              | KY        |      1615000 | PA      | $1618848.06   | 0.01%             | 2038-01-25      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                                         | Jefferies Finance LLC / JFIN Co-Issuer Corp                                      | CUSIP: 47232MAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2606000 | PA      | $2542801.89   | 0.02%             | 2031-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                         | Neuberger Berman Loan Advisers CLO 48 Ltd                                        | CUSIP: 64135GAU2<br>LEI: 549300FC7JRIZ6YLHK36 | Long             | ABS-CBDO         | CORP              | JE        |      1500000 | PA      | $1496861.70   | 0.01%             | 2036-04-25      | Floating      | 6.37%                 | No            |                  2 | On Loan: No      |
| ALPHA STAR HO IX LTD                                             | Alpha Star Holding IX Ltd                                                        | CUSIP: 000000000<br>LEI: 254900IL2SBV9ANGBE89 | Long             | DBT              | CORP              | AE        |      2028000 | PA      | $2012790.00   | 0.01%             | 2028-08-26      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2026-P1                                   | CUSIP: 92263AAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       949392 | PA      | $943150.23    | 0.01%             | 2056-03-25      | Variable      | 6.46%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance issuance Trust 2024-B                                            | CUSIP: 56847GAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2102000 | PA      | $2127968.32   | 0.01%             | 2038-11-20      | Fixed         | 6.36%                 | No            |                  2 | On Loan: No      |
| BANQUE FED CRED MUTUEL                                           | Banque Federative du Credit Mutuel SA                                            | CUSIP: 000000000<br>LEI: VBHFXSYT7OG62HNT8T76 | Long             | DBT              | CORP              | FR        |     11700000 | PA      | $12541201.42  | 0.07%             | 2030-06-03      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| GoodLeap Home Improvement Solutions Trust                        | GoodLeap Home Improvement Solutions Trust 2024-1                                 | CUSIP: 381935AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3699560 | PA      | $3720327.49   | 0.02%             | 2046-10-20      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited                                 | Bain Capital Credit CLO 2024-6 Ltd                                               | CUSIP: 05685XAA6<br>LEI: 254900HQYGN91X5XN386 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $751675.20    | 0.00%             | 2038-01-21      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| HLTN Commercial Mortgage Trust 2024-DPLO                         | HLTN Commercial Mortgage Trust 2026-DPLO                                         | CUSIP: 40446RAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3000000 | PA      | $3004687.50   | 0.02%             | 2041-04-15      | Floating      | 5.36%                 | 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        |       100000 | NS      | $100000.00    | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| GS Mortgage Securities Trust                                     | GS Mortgage Securities Corp Trust 2024-RVR                                       | CUSIP: 36272JAJ2<br>LEI: 5493001UQE7OCP3UT106 | Long             | ABS-MBS          | CORP              | US        |      2870000 | PA      | $2859356.72   | 0.02%             | 2041-08-10      | Variable      | 6.67%                 | No            |                  2 | On Loan: No      |
| DEUTSCHE BANK AG                                                 | Deutsche Bank AG                                                                 | CUSIP: 000000000<br>LEI: 7LTWFZYICNSX8D621K86 | Long             | DBT              | CORP              | DE        |      1000000 | PA      | $1225489.79   | 0.01%             | 2030-10-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| GC TREASURY CENTRE CO                                            | GC Treasury Center Co Ltd                                                        | CUSIP: 000000000<br>LEI: 549300LUFQBC2EQNAR40 | Long             | DBT              | CORP              | TH        |      4455000 | PA      | $4382606.25   | 0.03%             | 2030-09-10      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| TDC BRANDS A/S                                                   | TDC Brands A/S                                                                   | CUSIP: 000000000<br>LEI: 5493003B50SM3XIJDQ79 | Long             | DBT              | CORP              | DK        |      4785000 | PA      | $5623999.88   | 0.03%             | 2031-04-30      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Octagon Investment Partners XXI Ltd                              | Octagon Investment Partners XXI Ltd                                              | CUSIP: 67590QCC9<br>LEI: 549300XIS9D4AHDX5A35 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $4998707.50   | 0.03%             | 2031-02-14      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                           | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | MX        |            1 | NC      | $3315525.92   | 0.02%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                   | Morgan Stanley Residential Mortgage Loan Trust 2024-NQM3                         | CUSIP: 61776UAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $1001126.70   | 0.01%             | 2069-07-25      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Dowson                                                           | Dowson 2025-1 PLC                                                                | CUSIP: 000000000<br>LEI: 635400KCWWV87X81YE49 | Long             | ABS-O            | CORP              | GB        |       435524 | PA      | $595048.33    | 0.00%             | 2032-12-20      | Floating      | 6.64%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                         | Madison Park Funding XL-R Ltd                                                    | CUSIP: 55823RAA7<br>LEI: 254900PB1ZVJO7PYBX29 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $4008991.60   | 0.02%             | 2038-10-16      | Floating      | 4.97%                 | No            |                  2 | On Loan: No      |
| Home Owner Mortgage Enhanced Securuties Limited                  | HOMES 2025-NQM3 Trust                                                            | CUSIP: 40446GAC6<br>LEI: 2549001JI3VOZZFMYK81 | Long             | ABS-MBS          | CORP              | US        |      5088249 | PA      | $5117739.33   | 0.03%             | 2070-02-25      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| Hambridge Euro CLO DAC                                           | Hambridge Euro Clo 1 DAC                                                         | CUSIP: 000000000<br>LEI: 635400P8G4JAUUUQGV26 | Long             | ABS-CBDO         | CORP              | IE        |      1440000 | PA      | $1705287.34   | 0.01%             | 2038-10-20      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | SWP: OIS 13.293000 02-JAN-2029 BZD                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     29547815 | OU      | $-78031.52    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                         | Builders FirstSource Inc                                                         | CUSIP: 12008RAT4<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |      1395000 | PA      | $1408781.21   | 0.01%             | 2035-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                      | USD C THB P @32.5000 EO                                                          | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |      7181000 | OU      | $63623.66     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| COMMERZBANK AG                                                   | Commerzbank AG                                                                   | CUSIP: 000000000<br>LEI: 851WYGNLUQLFZBSYGB56 | Long             | DBT              | CORP              | DE        |       200000 | PA      | $244820.04    | 0.00%             | 2032-10-09      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ROMANIA                                                          | Romanian Government International Bond                                           | CUSIP: 77586RAY6<br>LEI: 315700IASY927EDWBK92 | Long             | DBT              | NUSS              | RO        |      2234000 | PA      | $2256340.00   | 0.01%             | 2030-09-16      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HARVEST MIDSTREAM I LP                                           | Harvest Midstream I LP                                                           | CUSIP: 417558AB9<br>LEI: 549300DW5M17KJOXCY66 | Long             | DBT              | CORP              | US        |      1115000 | PA      | $1160882.25   | 0.01%             | 2032-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| RCI BANQUE SA                                                    | RCI Banque SA                                                                    | CUSIP: 000000000<br>LEI: 96950001WI712W7PQG45 | Long             | DBT              | CORP              | FR        |      3800000 | PA      | $4515750.97   | 0.03%             | 2030-09-24      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Navient Education Loan Trust                                     | Navient Education Loan Trust 2025-A                                              | CUSIP: 63943EAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1259134 | PA      | $1267919.03   | 0.01%             | 2055-07-15      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| CSTL Commercial Mortgage Trust                                   | CSTL Commercial Mortgage Trust 2025-GATE2                                        | CUSIP: 12676JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      2910000 | PA      | $2863687.93   | 0.02%             | 2042-11-10      | Variable      | 4.71%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2025-1 PLC                                              | CUSIP: 000000000<br>LEI: 6354003DBF3NI8QJRR63 | Long             | ABS-MBS          | CORP              | GB        |       182000 | PA      | $247658.93    | 0.00%             | 2067-05-17      | Floating      | 4.85%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 6 Ltd                                                         | CUSIP: 67098UAY1<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      3250000 | PA      | $3255940.03   | 0.02%             | 2037-10-20      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2025-11 Mortgage Loan Trust                                                 | CUSIP: 12676KAJ2<br>LEI: 213800CETFGZSOQ6WF79 | Long             | ABS-MBS          | CORP              | US        |      2000000 | PA      | $1992909.40   | 0.01%             | 2070-11-25      | Variable      | 6.90%                 | No            |                  2 | On Loan: No      |
| Kennedy Lewis CLO Ltd                                            | Kennedy Lewis CLO 12 Ltd                                                         | CUSIP: 37147VAL1<br>LEI: 549300OPJWALMOKFT505 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5011503.50   | 0.03%             | 2038-07-20      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                 | OneMain Financial Issuance Trust 2022-2                                          | CUSIP: 68268VAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7357948 | PA      | $7365091.24   | 0.04%             | 2034-10-14      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| Sunrise Srl                                                      | Sunrise Spv 97 Srl                                                               | CUSIP: 000000000<br>LEI: 815600D891F71DDF9E74 | Long             | ABS-O            | CORP              | IT        |       669000 | PA      | $786361.96    | 0.00%             | 2050-10-27      | Floating      | 2.97%                 | No            |                  2 | On Loan: No      |
| STAR 2025-SFR5 Trust                                             | STAR 2025-SFR5 Trust                                                             | CUSIP: 85520CAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1666667 | PA      | $1667429.67   | 0.01%             | 2042-02-17      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                           | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |       230000 | PA      | $226382.49    | 0.00%             | 2029-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                            | CWABS Asset-Backed Certificates Trust 2004-9                                     | CUSIP: 126673GD8<br>LEI: 549300H6I2066O1LC673 | Long             | ABS-O            | CORP              | US        |      1936556 | PA      | $1729195.18   | 0.01%             | 2034-08-25      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                  | CVS Health Corp                                                                  | CUSIP: 126650EG1<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |       456000 | PA      | $472427.86    | 0.00%             | 2054-12-10      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                           | RR 27 Ltd                                                                        | CUSIP: 78110VAS3<br>LEI: 2549005CH9FMTJFP8I04 | Long             | ABS-CBDO         | CORP              | BM        |      6700000 | PA      | $6711652.64   | 0.04%             | 2040-10-15      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                | Herc Holdings Inc                                                                | CUSIP: 42704LAF1<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |      5214000 | PA      | $5424504.82   | 0.03%             | 2030-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                         | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      2246000 | PA      | $2377170.89   | 0.01%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: —       |
| Foundation Finance Trust                                         | Foundation Finance Trust 2025-3                                                  | CUSIP: 35042TAB8<br>LEI: 549300MQ65NOVQXYNB21 | Long             | ABS-O            | CORP              | US        |      2443000 | PA      | $2416496.87   | 0.01%             | 2052-08-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| European Loan Conduit                                            | Aesir European Loan Conduit No 41 DAC                                            | CUSIP: 000000000<br>LEI: 635400BIYQM1LPPW1N05 | Long             | ABS-MBS          | CORP              | IE        |       870000 | PA      | $1178273.94   | 0.01%             | 2036-01-23      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Bain Capital Credit CLO, Limited                                 | Bain Capital Credit CLO 2022-3 Ltd                                               | CUSIP: 05684NAL5<br>LEI: 254900XLVE4635MESI73 | Long             | ABS-CBDO         | CORP              | JE        |     10000000 | PA      | $10001062.00  | 0.06%             | 2035-07-17      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| Bayview Commercial Asset Trust                                   | Bayview Commercial Mortgage Pass-Through Trust 2006-SP1                          | CUSIP: 07324MAH8<br>LEI: 549300LFP60SWPOYB540 | Long             | ABS-MBS          | CORP              | US        |       788959 | PA      | $773243.19    | 0.00%             | 2036-04-25      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| HA SUSTAINABLE INF CAP                                           | HA Sustainable Infrastructure Capital Inc                                        | CUSIP: 41068XAH3<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | DBT              | CORP              | US        |       959000 | PA      | $968091.32    | 0.01%             | 2056-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust                                     | WinWater Mortgage Loan Trust 2015-1                                              | CUSIP: 97652TAK9<br>LEI: 5493006H0W2XGUBIBK91 | Long             | ABS-MBS          | CORP              | US        |       127237 | PA      | $119291.44    | 0.00%             | 2045-01-20      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Italian Stella Loans Srl                                         | Auto ABS Italian Stella Loans 2025-1 SRL                                         | CUSIP: 000000000<br>LEI: 81560077D223209D3A80 | Long             | ABS-O            | CORP              | IT        |       598408 | PA      | $703160.90    | 0.00%             | 2040-12-28      | Floating      | 2.97%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust 2019-A                                          | CUSIP: 78449TAB7<br>LEI: 549300WEYOS38NWU8D22 | Long             | ABS-O            | CORP              | US        |        52715 | PA      | $52329.92     | 0.00%             | 2036-07-15      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                                                | Service Corp International/US                                                    | CUSIP: 817565CE2<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |      3235000 | PA      | $3228506.06   | 0.02%             | 2029-06-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                           | Velocity Commercial Capital Loan Trust 2025-1                                    | CUSIP: 922955AK5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       900847 | PA      | $907396.92    | 0.01%             | 2055-02-25      | Variable      | 7.33%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                       | MFA 2024-NQM1 Trust                                                              | CUSIP: 55286VAA8<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |       958822 | PA      | $969031.93    | 0.01%             | 2069-03-25      | Variable      | 6.58%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 6.230000 17-DEC-2030 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    225515757 | OU      | $8413.34      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                                         | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       452000 | PA      | $456118.17    | 0.00%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Ellington Financial Mortgage Trust                               | EFMT 2026-NQM1                                                                   | CUSIP: 26846GAC1<br>LEI: 254900H3V169GPKPIM43 | Long             | ABS-MBS          | CORP              | US        |      1122020 | PA      | $1115936.52   | 0.01%             | 2071-02-25      | Variable      | 4.96%                 | No            |                  2 | On Loan: No      |
| MEHILAINEN YHTIOT OY                                             | Mehilainen Yhtiot Oy                                                             | CUSIP: 000000000<br>LEI: 2138006X78HGYRHS5865 | Long             | DBT              | CORP              | FI        |     21706000 | PA      | $25571772.92  | 0.15%             | 2032-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Edenbrook Mortgage Funding Plc                                   | Edenbrook Mortgage Funding PLC                                                   | CUSIP: 000000000<br>LEI: 635400URO7UOS6PWLH17 | Long             | ABS-MBS          | CORP              | GB        |       143885 | PA      | $197951.00    | 0.00%             | 2057-03-22      | Floating      | 5.70%                 | No            |                  2 | On Loan: No      |
| HILL FL                                                          | Hill FL 2025-1 BV                                                                | CUSIP: 000000000<br>LEI: 72450069R7MTUFTXDC59 | Long             | ABS-O            | CORP              | NL        |      1106000 | PA      | $1300866.85   | 0.01%             | 2032-10-18      | Floating      | 3.25%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-XL5                                            | CUSIP: 05612GAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      3237500 | PA      | $3239523.45   | 0.02%             | 2041-03-15      | Floating      | 6.34%                 | No            |                  2 | On Loan: No      |
| UBS AG                                                           | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |            1 | NC      | $-286586.21   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Empower CLO Ltd.                                                 | Empower CLO 2024-1 Ltd                                                           | CUSIP: 29244RAA3<br>LEI: 213800DM8ZNUIQ1JCN40 | Long             | ABS-CBDO         | CORP              | KY        |      1545000 | PA      | $1545000.00   | 0.01%             | 2037-04-25      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| HSBC HOLDINGS PLC                                                | HSBC Holdings PLC                                                                | CUSIP: 000000000<br>LEI: MLU0ZO3ML4LN2LL2TL39 | Long             | DBT              | CORP              | GB        |      8252000 | PA      | $9648689.57   | 0.06%             | 2030-05-13      | Fixed         | 3.31%                 | No            |                  2 | On Loan: No      |
| CQS US CLO Ltd                                                   | CQS US Clo 6 Ltd                                                                 | CUSIP: 223925AE8<br>LEI: 254900Z541K697JPZU75 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $1004266.40   | 0.01%             | 2039-03-31      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| CD&R FIREFLY BIDCO LTD                                           | CD&R Firefly Bidco PLC                                                           | CUSIP: 000000000<br>LEI: 213800OAU5VX61DYZ558 | Long             | DBT              | CORP              | GB        |     17916000 | PA      | $25104645.53  | 0.15%             | 2029-04-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 19B-R3 Ltd                                            | CUSIP: 38181YAL0<br>LEI: 2549003VC5PGFRGCQU51 | Long             | ABS-CBDO         | CORP              | KY        |      1000000 | PA      | $999221.30    | 0.01%             | 2036-10-20      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| KRAFT HEINZ FOODS CO                                             | Kraft Heinz Foods Co                                                             | CUSIP: 50077LBC9<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |     10020000 | PA      | $9972607.30   | 0.06%             | 2027-05-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                   | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |            1 | NC      | $-1178778.76  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citigroup Commercial Mortgage Trust                              | Citigroup Commercial Mortgage Trust 2020-420K                                    | CUSIP: 17328QAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       833000 | PA      | $746920.53    | 0.00%             | 2042-11-10      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| Kennedy Lewis CLO Ltd                                            | Kennedy Lewis CLO 7 Ltd                                                          | CUSIP: 37149LAL1<br>LEI: 25490036G9JNQQPHIX69 | Long             | ABS-CBDO         | CORP              | KY        |       500000 | PA      | $500772.80    | 0.00%             | 2037-04-22      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Affirm Master Trust                                              | Affirm Master Trust Series 2025-3                                                | CUSIP: 00833BAN8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11330000 | PA      | $11294908.72  | 0.07%             | 2034-10-16      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: HUF 6.174500 17-DEC-2027 BUB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   8131720054 | OU      | $-117330.28   | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Freddie Mac                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HFWR2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     17332518 | PA      | $17453880.31  | 0.10%             | 2054-10-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Warwick Capital CLO Ltd                                          | Warwick Capital CLO 1 Ltd                                                        | CUSIP: 936919AU3<br>LEI: 254900MNDJAT8Y3XZ919 | Long             | ABS-CBDO         | CORP              | JE        |      2000000 | PA      | $1999324.00   | 0.01%             | 2038-10-20      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                           | Lendmark Funding Trust 2025-3                                                    | CUSIP: 525951AC3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       305000 | PA      | $301018.23    | 0.00%             | 2035-05-21      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| E-CARAT                                                          | ECARAT DE SA Compartment Lease 2025-1                                            | CUSIP: 000000000<br>LEI: 213800ETWMJRFLJ8U337 | Long             | ABS-O            | CORP              | LU        |       500000 | PA      | $588226.77    | 0.00%             | 2034-05-25      | Floating      | 2.97%                 | No            |                  2 | On Loan: No      |
| LENDLEASE ASIA TREASURY                                          | Lendlease Asia Treasury Pte Ltd                                                  | CUSIP: 000000000<br>LEI: 254900RDMI6PPK5EN222 | Long             | DBT              | CORP              | SG        |       750000 | PA      | $579676.70    | 0.00%             | 2030-09-30      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                            | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       835000 | PA      | $867863.93    | 0.01%             | 2029-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| Braccan Mortgage Funding                                         | Braccan Mortgage Funding 2024-1 PLC                                              | CUSIP: 000000000<br>LEI: 635400RGKRFPCFMYJF13 | Long             | ABS-MBS          | CORP              | GB        |       404999 | PA      | $552580.88    | 0.00%             | 2067-02-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| Texas Debt Capital Euro CLO DAC                                  | Texas Debt Capital Euro CLO 2024-1 DAC                                           | CUSIP: 000000000<br>LEI: 6354005CUY8PX5XJT459 | Long             | ABS-CBDO         | CORP              | IE        |       828000 | PA      | $972813.68    | 0.01%             | 2038-07-16      | Floating      | 5.84%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 7.040000 17-DEC-2030 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     96345143 | OU      | $127085.66    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.752800 18-MAR-2031 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    106277565 | OU      | $229992.70    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| FORVIA SE                                                        | Forvia SE                                                                        | CUSIP: 000000000<br>LEI: 969500F0VMZLK2IULV85 | Long             | DBT              | CORP              | FR        |      5785000 | PA      | $6904255.40   | 0.04%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Trinitas CLO Ltd                                                 | Trinitas CLO XVI Ltd                                                             | CUSIP: 89642DAS7<br>LEI: 5493004FCKEPFTK2QI86 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2503543.50   | 0.01%             | 2034-07-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| HONEYWELL AEROSPACE INC                                          | Honeywell Aerospace Inc                                                          | CUSIP: 43849RAA3<br>LEI: 213800ZUAQRBYL67JS90 | Long             | DBT              | CORP              | US        |     10155000 | PA      | $10079384.55  | 0.06%             | 2028-03-16      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Kennedy Lewis CLO Ltd                                            | Kennedy Lewis CLO 9 Ltd                                                          | CUSIP: 37147LAN9<br>LEI: 549300OYEZ11WGJ2SS19 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $4009782.00   | 0.02%             | 2038-01-20      | Floating      | 5.03%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                 | COLT 2021-1RMortgage Pass-Through Certificates                                   | CUSIP: 19688BAA2<br>LEI: 213800IHRVKO9R6JZ883 | Long             | ABS-MBS          | CORP              | US        |      2562403 | PA      | $2337230.80   | 0.01%             | 2065-05-25      | Variable      | 0.86%                 | No            |                  2 | On Loan: No      |
| UNIQUE PUB FINANCE CO                                            | Unique Pub Finance Co PLC/The                                                    | CUSIP: 000000000<br>LEI: 213800FOMWLKHQTI5562 | Long             | DBT              | CORP              | GB        |      3547658 | PA      | $4982280.66   | 0.03%             | 2032-03-30      | Fixed         | 6.46%                 | No            |                  2 | On Loan: No      |
| VELOCITY 2026-1 PLC                                              | Velocity 2026-1 PLC                                                              | CUSIP: 000000000<br>LEI: 213800PL94CXWBF7SX91 | Long             | ABS-O            | CORP              | GB        |       319000 | PA      | $434083.94    | 0.00%             | 2037-02-25      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Invesco CLO LTD                                                  | INVESCO US CLO 2025-3 Ltd                                                        | CUSIP: 46092FAJ7<br>LEI: 2138006HTEY9GGW6XF50 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3017308.80   | 0.02%             | 2038-10-15      | Floating      | 6.52%                 | No            |                  2 | On Loan: No      |
| Noria                                                            | Noria DE 2024                                                                    | CUSIP: 000000000<br>LEI: 9695003DRUTU793B4N34 | Long             | ABS-O            | CORP              | FR        |       280057 | PA      | $328053.08    | 0.00%             | 2043-02-25      | Floating      | 2.92%                 | No            |                  2 | On Loan: No      |
| Montgomery Square Consumer Funding 1 plc                         | Montgomery Square Consumer Funding 1 PLC                                         | CUSIP: 000000000<br>LEI: 2138008R3BLOJPE63Y08 | Long             | ABS-O            | CORP              | GB        |       373000 | PA      | $507628.17    | 0.00%             | 2036-03-17      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 7.520000 17-JUN-2029 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    457499000 | OU      | $5792.76      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BX Trust                                                         | BX Commercial Mortgage Trust 2024-GPA3                                           | CUSIP: 123910AE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       705713 | PA      | $706815.25    | 0.00%             | 2039-12-15      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                         | JP Morgan Mortgage Trust 2025-VIS1                                               | CUSIP: 46659BAF9<br>LEI: 529900CBDGTUOOQONB64 | Long             | ABS-MBS          | CORP              | US        |      2344143 | PA      | $2356651.82   | 0.01%             | 2055-08-25      | Variable      | 6.41%                 | No            |                  2 | On Loan: No      |
| Sunrise Srl                                                      | Sunrise Spv 97 Srl                                                               | CUSIP: 000000000<br>LEI: 815600D891F71DDF9E74 | Long             | ABS-O            | CORP              | IT        |       215000 | PA      | $251058.88    | 0.00%             | 2050-10-27      | Floating      | 3.22%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                       | Navient Private Education Loan Trust 2015-B                                      | CUSIP: 63939KAC3<br>LEI: 549300GZIQGXPYGM8M95 | Long             | ABS-O            | CORP              | US        |       798707 | PA      | $799710.81    | 0.00%             | 2040-07-16      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                   | Bombardier Inc                                                                   | CUSIP: 097751CA7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |      4415000 | PA      | $4687471.73   | 0.03%             | 2030-11-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| Mortimer BTL Plc                                                 | Mortimer 2024-Mix PLC                                                            | CUSIP: 000000000<br>LEI: 213800F12CZ391USLI51 | Long             | ABS-MBS          | CORP              | GB        |       100000 | PA      | $137211.88    | 0.00%             | 2067-09-22      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                   | Mariner Finance Issuance Trust 2025-A                                            | CUSIP: 567920AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2834000 | PA      | $2853963.26   | 0.02%             | 2038-05-20      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| Tower Bridge Funding                                             | Tower Bridge Funding 2024-3 PLC                                                  | CUSIP: 000000000<br>LEI: 635400XMA28GDAPK1E69 | Long             | ABS-MBS          | CORP              | GB        |       470191 | PA      | $640007.36    | 0.00%             | 2066-12-20      | Floating      | 4.54%                 | No            |                  2 | On Loan: No      |
| EdgeConnex Data Centers Europe                                   | EdgeConneX Data Centers Europe BV                                                | CUSIP: 000000000<br>LEI: 72450093DSNFE8T3IA66 | Long             | ABS-O            | CORP              | NL        |      4230000 | PA      | $4897020.46   | 0.03%             | 2056-04-30      | Variable      | 4.50%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                           | Match Group Holdings II LLC                                                      | CUSIP: 57667JAC6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |      2065000 | PA      | $2040317.26   | 0.01%             | 2033-09-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 7.420000 17-JUN-2027 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |    457499000 | OU      | $-5673.65     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| WPP FINANCE 2013                                                 | WPP Finance 2013                                                                 | CUSIP: 000000000<br>LEI: 549300L84EKSLWWPGI24 | Long             | DBT              | CORP              | GB        |     25280000 | PA      | $28756091.61  | 0.17%             | 2031-06-09      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SISECAM UK PLC                                                   | Sisecam UK PLC                                                                   | CUSIP: 000000000<br>LEI: 789000T82YRLMLUOC889 | Long             | DBT              | CORP              | GB        |       963000 | PA      | $981056.25    | 0.01%             | 2033-01-23      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Marble Point CLO LTD                                             | Marble Point CLO XVII Ltd                                                        | CUSIP: 56606CAL7<br>LEI: 2549003LUS5LG1CTZP23 | Long             | ABS-CBDO         | CORP              | KY        |      3500000 | PA      | $3504219.60   | 0.02%             | 2037-07-20      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| MUTHOOT FINANCE LTD                                              | Muthoot Finance Ltd                                                              | CUSIP: 62828M2F7<br>LEI: 335800HAMJMBFL4RRF02 | Long             | DBT              | CORP              | IN        |      1700000 | PA      | $1683425.00   | 0.01%             | 2030-08-04      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| RCI BANQUE SA                                                    | RCI Banque SA                                                                    | CUSIP: 000000000<br>LEI: 96950001WI712W7PQG45 | Long             | DBT              | CORP              | FR        |     17500000 | PA      | $21264182.85  | 0.13%             | 2034-10-09      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                    | JP Morgan Chase Commercial Mortgage Securities Trust 2024-IGLG                   | CUSIP: 46593KAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1533000 | PA      | $1526835.42   | 0.01%             | 2039-11-09      | Variable      | 8.49%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                                            | Encompass Health Corp                                                            | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |      1822000 | PA      | $1793786.69   | 0.01%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FABBRICA ITA SINTETICI                                           | FIS Fabbrica Italiana Sintetici SpA                                              | CUSIP: 000000000<br>LEI: 8156004D7056C63EC525 | Long             | DBT              | CORP              | IT        |      1446000 | PA      | $1694194.30   | 0.01%             | 2031-02-05      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                      | FSWP: OIS 7.530000 03-JAN-2031 TII                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     23793970 | OU      | $-15546.42    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                  | Golub Capital Partners CLO 66B Ltd                                               | CUSIP: 38181AAA6<br>LEI: 254900N3E7Y6I5DRGW52 | Long             | ABS-CBDO         | CORP              | JE        |      2000000 | PA      | $2002847.20   | 0.01%             | 2038-07-25      | Floating      | 5.12%                 | No            |                  2 | On Loan: No      |
| RIVERS ENTERPRISE                                                | Rivers Enterprise Borrower LLC / Rivers Enterprise Finance Corp                  | CUSIP: 76883NAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       800000 | PA      | $816829.60    | 0.00%             | 2033-02-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| DELEK LOG PART/FINANCE                                           | Delek Logistics Partners LP / Delek Logistics Finance Corp                       | CUSIP: 24665FAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1307000 | PA      | $1306850.35   | 0.01%             | 2028-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| 1988 CLO Ltd.                                                    | 1988 CLO 2 Ltd                                                                   | CUSIP: 653947AJ0<br>LEI: 2549000NTXDB3VOXDV92 | Long             | ABS-CBDO         | CORP              | KY        |      3545000 | PA      | $3546693.45   | 0.02%             | 2038-04-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Sage AR Funding                                                  | Sage AR Funding                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | GB        |      5548000 | PA      | $7522956.01   | 0.04%             | 2038-05-18      | Floating      | 4.99%                 | No            |                  2 | On Loan: No      |
| RD MICHIGAN PROP OWNER I                                         | RD Michigan Property Owner I LLC                                                 | CUSIP: 74941YAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10018000 | PA      | $10015986.88  | 0.06%             | 2045-03-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NEW WORLD CHINA LAND LTD                                         | New World China Land Ltd                                                         | CUSIP: 000000000<br>LEI: 549300X7767HIID3YE28 | Long             | DBT              | CORP              | KY        |      2600000 | PA      | $2453360.00   | 0.01%             | 2027-01-23      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GRUENENTHAL GMBH                                                 | Gruenenthal GmbH                                                                 | CUSIP: 000000000<br>LEI: 529900SH895E31PGLA72 | Long             | DBT              | CORP              | DE        |      4489000 | PA      | $5453593.11   | 0.03%             | 2030-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RYAN SPECIALTY                                                   | Ryan Specialty LLC                                                               | CUSIP: 78351GAA3<br>LEI: 549300K52N7QBO3PYY45 | Long             | DBT              | CORP              | US        |      1107000 | PA      | $1106830.19   | 0.01%             | 2032-08-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                         | Republic of South Africa Government International Bond                           | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |      3195000 | PA      | $3748460.82   | 0.02%             | 2026-07-24      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Bulgaria Government International Bonds                          | Bulgaria Government International Bonds                                          | CUSIP: 000000000<br>LEI: 529900PG0XCL4LICL838 | Long             | DBT              | NUSS              | BG        |       776000 | PA      | $754993.68    | 0.00%             | 2037-03-05      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LendingClub Rated Notes Issuer Trust                             | LendingClub Rated Notes Issuer Trust Series 2025-P2                              | CUSIP: 525949AB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |       284000 | PA      | $283451.54    | 0.00%             | 2035-04-15      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| Allwyn Entertainment Financing UK PLC                            | Allwyn Entertainment Financing UK PLC EUR Term Loan B                            | CUSIP: 000000000<br>LEI: 315700J7ZTIN8XGCX365 | Long             | LON              | CORP              | GB        |      5679000 | PA      | $6675554.21   | 0.04%             | 2032-03-28      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| DBMS                                                             | DBMS 2025-1 DAC                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | IE        |       735000 | PA      | $997078.58    | 0.01%             | 2036-02-18      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Iskandar Enterprise LLC                                          | Iskandar Enterprise LLC                                                          | CUSIP: 464338AB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4409000 | PA      | $4407622.19   | 0.03%             | 2056-04-17      | Fixed         | 5.34%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                                              | Go Daddy Operating Co LLC / GD Finance Co Inc                                    | CUSIP: 38016LAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      1867000 | PA      | $1744706.65   | 0.01%             | 2029-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                      | 1Y RTR 3.650000 24-APR-2028                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | KY        |   -491297000 | OU      | $-1961774.47  | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Egypt Government International Bonds                             | Egypt Government International Bonds                                             | CUSIP: 000000000<br>LEI: 529900GFIVH4086NMH82 | Long             | DBT              | NUSS              | EG        |      2454000 | PA      | $2234612.40   | 0.01%             | 2047-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| RESORTS WORLD/RWLV CAP                                           | Resorts World Las Vegas LLC / RWLV Capital Inc                                   | CUSIP: 76120HAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      3600000 | PA      | $3213000.00   | 0.02%             | 2029-04-16      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit Partners                                         | OHA Credit Funding 9 Ltd                                                         | CUSIP: 67690AAY7<br>LEI: 549300EX32IF3NZCVL73 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3012468.00   | 0.02%             | 2037-10-19      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BQEZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6407408 | PA      | $6459811.18   | 0.04%             | 2053-08-25      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust                                 | Vista Point Securitization Trust 2024-CES3                                       | CUSIP: 92841WAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      1000000 | PA      | $1008291.00   | 0.01%             | 2055-01-25      | Variable      | 6.00%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                        | Anchorage Capital CLO 31 Ltd                                                     | CUSIP: 032912AA5<br>LEI: 636700LHRCVD3XI3ZU07 | Long             | ABS-CBDO         | CORP              | KY        |      5000000 | PA      | $5012066.50   | 0.03%             | 2038-10-20      | Floating      | 4.98%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                               | SWAP/CDSWAP/SCDS: (EOFP)                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DCR              |  | DE        |      1927000 | OU      | $252485.34    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| POLAND GOVERNMENT BOND                                           | Republic of Poland Government Bond                                               | CUSIP: 000000000<br>LEI: 259400R9L8QEP0TPXS31 | Long             | DBT              | NUSS              | PL        |     10919448 | PA      | $2748242.71   | 0.02%             | 2036-08-25      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                     | ARES Loan Funding I Ltd                                                          | CUSIP: 04018XAN9<br>LEI: 549300BC3E2Y44TL8536 | Long             | ABS-CBDO         | CORP              | KY        |      4000000 | PA      | $3999987.60   | 0.02%             | 2039-04-15      | Floating      | 4.84%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                          | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAA8<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |       200000 | PA      | $201005.60    | 0.00%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| Palmer Square CLO Ltd                                            | Palmer Square CLO 2025-5 Ltd                                                     | CUSIP: 696914AG5<br>LEI: 549300EYS8N79JYSXL17 | Long             | ABS-CBDO         | CORP              | KY        |      3000000 | PA      | $3017124.60   | 0.02%             | 2038-10-20      | Floating      | 6.23%                 | No            |                  2 | On Loan: No      |
| ECHOSTAR CORP                                                    | EchoStar Corp                                                                    | CUSIP: 278768AA4<br>LEI: 549300EE20907QZ9GT38 | Long             | DBT              | CORP              | US        |      8289990 | PA      | $8411164.78   | 0.05%             | 2030-11-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| SMB Private Education Loan Trust                                 | SMB Private Education Loan Trust                                                 | CUSIP: 78449XAB8<br>LEI: 549300XC4C7GRVLU6076 | Long             | ABS-O            | CORP              | US        |       125266 | PA      | $125561.46    | 0.00%             | 2053-07-15      | Floating      | 4.87%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                             | Cross 2025-H3 Mortgage Trust                                                     | CUSIP: 22757EAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8957638 | PA      | $9041321.68   | 0.05%             | 2070-04-25      | Variable      | 5.88%                 | No            |                  2 | On Loan: No      |
| TVL FINANCE PLC                                                  | TVL Finance PLC                                                                  | CUSIP: 000000000<br>LEI: 549300DUQXE7VXG8YA50 | Long             | DBT              | CORP              | JE        |      1594000 | PA      | $2081974.18   | 0.01%             | 2028-04-28      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| STELLANTIS NV                                                    | Stellantis NV                                                                    | CUSIP: 000000000<br>LEI: 549300LKT9PW7ZIBDF31 | Long             | DBT              | CORP              | NL        |      8050000 | PA      | $10657093.90  | 0.06%             | 2032-06-16      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                         | FSWP: ZAR 6.859300 17-DEC-2030 JIB                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |     99803979 | OU      | $175418.24    | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Elevation CLO Ltd                                                | Elevation CLO 2018-10 Ltd                                                        | CUSIP: 28623CAN1<br>LEI: 5493005Q4N14IP6ASK07 | Long             | ABS-CBDO         | CORP              | KY        |      1825711 | PA      | $1819163.89   | 0.01%             | 2031-10-20      | Floating      | 4.88%                 | No            |                  2 | On Loan: No      |
| UK Logisitics                                                    | UK Logistics 2024-2 DAC                                                          | CUSIP: 000000000<br>LEI: 635400LLQ82YFJBFFU27 | Long             | ABS-MBS          | CORP              | GB        |       167534 | PA      | $226945.33    | 0.00%             | 2035-02-17      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| CIT Mortgage Loan Trust                                          | CIT Mortgage Loan Trust 2007-1                                                   | CUSIP: 12559QAH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4000000 | PA      | $3947484.80   | 0.02%             | 2037-10-25      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| SUNRISE FINCO I BV                                               | Sunrise FinCo I BV                                                               | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |      8371000 | PA      | $8042187.12   | 0.05%             | 2031-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Signal Peak CLO, LLC                                             | Signal Peak CLO 11 Ltd                                                           | CUSIP: 82666XAA8<br>LEI: 635400L44OLNOBHFTO08 | Long             | ABS-CBDO         | CORP              | KY        |      2500000 | PA      | $2503238.75   | 0.01%             | 2037-07-18      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                  | BRAVO Residential Funding Trust 2024-NQM4                                        | CUSIP: 10568NAB8<br>LEI: 254900NOKQW417VKV943 | Long             | ABS-MBS          | CORP              | US        |       839393 | PA      | $824155.65    | 0.00%             | 2060-01-25      | Variable      | 4.35%                 | No            |                  2 | On Loan: No      |
| TEREX CORP                                                       | Terex Corp                                                                       | CUSIP: 880779BA0<br>LEI: YAWJZJYEQ7M1SYMOS462 | Long             | DBT              | CORP              | US        |      1248000 | PA      | $1239513.97   | 0.01%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Frontier Mortgage Funding                                        | Frontier Mortgage Funding 2025-1 PLC                                             | CUSIP: 000000000<br>LEI: 213800LC7EZKPEODCU70 | Long             | ABS-MBS          | CORP              | GB        |       866000 | PA      | $1175598.75   | 0.01%             | 2066-12-20      | Floating      | 4.74%                 | No            |                  2 | On Loan: No      |
| SC GERMANY CONSUMER                                              | SC Germany SA Compartment Consumer 2025-1                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | ABS-O            | CORP              | DE        |       100000 | PA      | $116833.19    | 0.00%             | 2038-12-14      | Floating      | 3.20%                 | No            |                  2 | On Loan: No      |
| Polen Capital CLO Ltd                                            | Polen Capital CLO 2025-2 Ltd                                                     | CUSIP: 73110AAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      1750000 | PA      | $1754083.63   | 0.01%             | 2039-01-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| HEATHROW FINANCE PLC                                             | Heathrow Finance PLC                                                             | CUSIP: 000000000<br>LEI: 549300F740QSGMPHQJ60 | Long             | DBT              | CORP              | GB        |      3914000 | PA      | $5298876.32   | 0.03%             | 2031-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Aimco                                                            | AIMCO CLO Series 2015-A                                                          | CUSIP: 00900LBJ2<br>LEI: 254900THVAKUZYK59M09 | Long             | ABS-CBDO         | CORP              | KY        |       750000 | PA      | $751648.43    | 0.00%             | 2038-10-17      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-29

**Name of Applicant:** BlackRock ETF Trust II

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer