# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001752724-23-071842
**Filing Date:** 2023-3
**Character Count:** 128995
**Document Hash:** 255caa428e0a391811ccba0e820ab951
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-071842.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-071842

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20231031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iSHARES TRUST
- **CENTRAL INDEX KEY:** 0001100663
- **IRS NUMBER:** 943351276
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 23773970

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

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

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

## Series and Classes Contracts Data

### iShares iBonds 2025 Term High Yield and Income ETF (Series ID: S000065345)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000211404 | iShares iBonds 2025 Term High Yield and Income ETF | IBHE            |

## Nport-Ex

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) | **iShares<sup>®</sup> iBonds**<sup>®</sup> **2025 Term High Yield and Income ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Corporate Bonds & Notes** |  |  |
| **Advertising — 0.6%** |  |  |
| Clear Channel International BV, 6.63%, 08/01/25 (Call 02/01/23)<sup>(a)(b)</sup> | $360 | $352908 |
| Outfront Media Capital LLC/Outfront Media Capital Corp., 6.25%, 06/15/25 (Call 06/15/23)<sup>(a)</sup> | 421 | 423774 |
|  |  | 776682 |
| **Aerospace & Defense — 3.9%** |  |  |
| Bombardier Inc., 7.50%, 03/15/25 (Call 03/15/23)<sup>(a)</sup> | 1071 | 1071942 |
| Howmet Aerospace Inc., 6.88%, 05/01/25 (Call 04/01/25) | 570 | 586661 |
| Rolls-Royce PLC, 3.63%, 10/14/25 (Call 07/14/25)<sup>(a)</sup> | 965 | 900577 |
| Spirit AeroSystems Inc., 7.50%, 04/15/25 (Call 04/15/23)<sup>(a)</sup> | 1157 | 1160830 |
| TransDigm Inc., 8.00%, 12/15/25 (Call 04/08/23)<sup>(a)</sup> | 1058 | 1079795 |
| Triumph Group Inc., 7.75%, 08/15/25 (Call 08/15/23)<sup>(b)</sup> | 483 | 410912 |
|  |  | 5210717 |
| **Airlines — 3.7%** |  |  |
| American Airlines Group Inc., 3.75%, 03/01/25<sup>(a)(b)</sup> | 479 | 447798 |
| American Airlines Inc., 11.75%, 07/15/25<sup>(a)</sup> | 2440 | 2717379 |
| Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., 8.00%, 09/20/25 (Call 09/20/23)<sup>(a)</sup> | 1071 | 1093877 |
| U.S. Airways Pass Through Trust, Series 2013-1, Class A, 3.95%, 05/15/27<sup>(b)</sup> | 269 | 249711 |
| United Airlines Holdings Inc., 4.88%, 01/15/25<sup>(b)</sup> | 346 | 339848 |
|  |  | 4848613 |
| **Auto Manufacturers — 4.3%** |  |  |
| Aston Martin Capital Holdings Ltd., 10.50%, 11/30/25 (Call 11/01/24)<sup>(a)</sup> | 1100 | 1079793 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;2.30%, 02/10/25 (Call 01/10/25) | 730 | 678528 |
| &nbsp;&nbsp;&nbsp;3.38%, 11/13/25 (Call 10/13/25) | 1230 | 1145622 |
| &nbsp;&nbsp;&nbsp;4.13%, 08/04/25 | 890 | 850057 |
| &nbsp;&nbsp;&nbsp;4.69%, 06/09/25 (Call 04/09/25) | 350 | 339811 |
| &nbsp;&nbsp;&nbsp;5.13%, 06/16/25 (Call 05/16/25) | 1025 | 1004541 |
| Jaguar Land Rover Automotive PLC, 7.75%, 10/15/25 (Call 10/15/23)<sup>(a)</sup> | 680 | 669372 |
|  |  | 5767724 |
| **Auto Parts & Equipment — 2.0%** |  |  |
| Clarios Global LP, 6.75%, 05/15/25 (Call 05/15/23)<sup>(a)</sup> | 450 | 452844 |
| Dana Financing Luxembourg Sarl, 5.75%, 04/15/25 (Call 04/15/23)<sup>(a)</sup> | 396 | 393751 |
| Goodyear Tire & Rubber Co. (The), 9.50%, 05/31/25 (Call 05/31/23) | 770 | 797112 |
| ZF North America Capital Inc., 4.75%, 04/29/25<sup>(a)</sup> | 1035 | 1000731 |
|  |  | 2644438 |
| **Banks — 0.4%** |  |  |
| Freedom Mortgage Corp., 8.25%, 04/15/25 (Call 04/15/23)<sup>(a)</sup> | 520 | 495789 |
| **Building Materials — 0.8%** |  |  |
| Jeld-Wen Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 12/15/25 (Call 03/03/23)<sup>(a)</sup> | 387 | 342468 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 05/15/25 (Call 05/15/23)<sup>(a)</sup> | 243 | 233355 |
| Koppers Inc., 6.00%, 02/15/25 (Call 02/15/23)<sup>(a)</sup> | 483 | 479006 |
|  |  | 1054829 |
| **Chemicals — 1.2%** |  |  |
| Avient Corp., 5.75%, 05/15/25 (Call 05/15/23)<sup>(a)(b)</sup> | 627 | 621601 |
| Rain CII Carbon LLC/CII Carbon Corp., 7.25%, 04/01/25 (Call 04/01/23)<sup>(a)</sup> | 527 | 496803 |
| Trinseo Materials Operating SCA/Trinseo Materials |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance Inc., 5.38%, 09/01/25 (Call 09/01/23)<sup>(a)(b)</sup> | 480 | 420178 |
|  |  | 1538582 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Coal — 0.3%** |  |  |
| Alliance Resource Operating Partners LP/Alliance Resource |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Finance Corp., 7.50%, 05/01/25 (Call 05/01/23)<sup>(a)(b)</sup> | $385 | $382467 |
| **Commercial Services — 2.5%** |  |  |
| Aptim Corp., 7.75%, 06/15/25 (Call 06/15/23)<sup>(a)</sup> | 495 | 352534 |
| Brink's Co. (The), 5.50%, 07/15/25 (Call 06/18/23)<sup>(a)</sup> | 391 | 386183 |
| Picasso Finance Sub Inc., 6.13%, 06/15/25 (Call 06/15/23)<sup>(a)</sup> | 507 | 509155 |
| Ritchie Bros. Auctioneers Inc., 5.38%, 01/15/25 (Call 03/03/23)<sup>(a)</sup> | 481 | 477431 |
| Sabre GLBL Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.38%, 09/01/25 (Call 03/03/23)<sup>(a)</sup> | 819 | 809286 |
| &nbsp;&nbsp;&nbsp;&nbsp;9.25%, 04/15/25 (Call 03/16/25)<sup>(a)(b)</sup> | 748 | 763925 |
|  |  | 3298514 |
| **Computers — 0.7%** |  |  |
| Diebold Nixdorf Inc., 9.38%, 07/15/25 (Call 02/16/23)<sup>(a)</sup> | 386 | 254015 |
| Seagate HDD Cayman, 4.75%, 01/01/25 | 463 | 454472 |
| Tempo Acquisition LLC/Tempo Acquisition Finance Corp., 5.75%, 06/01/25 (Call 06/01/23)<sup>(a)(b)</sup> | 277 | 279709 |
|  |  | 988196 |
| **Distribution & Wholesale — 0.5%** |  |  |
| G-III Apparel Group Ltd., 7.88%, 08/15/25 (Call 08/15/23)<sup>(a)(b)</sup> | 384 | 365215 |
| KAR Auction Services Inc., 5.13%, 06/01/25 (Call 06/01/23)<sup>(a)</sup> | 362 | 355795 |
|  |  | 721010 |
| **Diversified Financial Services — 5.1%** |  |  |
| Ally Financial Inc., 5.75%, 11/20/25 (Call 10/20/25)<sup>(b)</sup> | 1009 | 1001483 |
| Enact Holdings Inc., 6.50%, 08/15/25 (Call 02/15/25)<sup>(a)(b)</sup> | 722 | 711155 |
| Enova International Inc., 8.50%, 09/15/25 (Call 09/15/23)<sup>(a)</sup> | 363 | 345344 |
| LD Holdings Group LLC, 6.50%, 11/01/25 (Call 11/01/23)<sup>(a)</sup> | 480 | 367987 |
| Navient Corp., 6.75%, 06/25/25 | 483 | 481961 |
| OneMain Finance Corp., 6.88%, 03/15/25 | 1205 | 1201060 |
| PennyMac Financial Services Inc., 5.38%, 10/15/25 (Call 10/15/23)<sup>(a)</sup> | 624 | 582011 |
| PRA Group Inc., 7.38%, 09/01/25 (Call 03/03/23)<sup>(a)</sup> | 287 | 285132 |
| Provident Funding Associates LP/PFG Finance Corp., 6.38%, 06/15/25 (Call 05/24/23)<sup>(a)</sup> | 315 | 295234 |
| SLM Corp., 4.20%, 10/29/25 (Call 09/29/25) | 480 | 449530 |
| StoneX Group Inc., 8.63%, 06/15/25 (Call 06/15/23)<sup>(a)</sup> | 334 | 337550 |
| United Wholesale Mortgage LLC, 5.50%, 11/15/25 (Call 11/15/23)<sup>(a)</sup> | 768 | 720169 |
|  |  | 6778616 |
| **Electric — 0.9%** |  |  |
| DPL Inc., 4.13%, 07/01/25 (Call 04/01/25) | 398 | 379807 |
| Drax Finco PLC, 6.63%, 11/01/25 (Call 05/01/23)<sup>(a)</sup> | 480 | 468547 |
| FirstEnergy Corp., 2.05%, 03/01/25 (Call 02/01/25) | 290 | 272064 |
| NSG Holdings LLC/NSG Holdings Inc., 7.75%, 12/15/25<sup>(a)</sup> | 6 | 8262 |
|  |  | 1128680 |
| **Electrical Components & Equipment — 1.1%** |  |  |
| WESCO Distribution Inc., 7.13%, 06/15/25 (Call 06/15/23)<sup>(a)</sup> | 1443 | 1465958 |
| **Electronics — 0.8%** |  |  |
| Likewize Corp., 9.75%, 10/15/25 (Call 10/15/23)<sup>(a)</sup> | 403 | 380553 |
| Sensata Technologies BV, 5.00%, 10/01/25<sup>(a)</sup> | 672 | 664467 |
|  |  | 1045020 |
| **Engineering & Construction — 1.3%** |  |  |
| Artera Services LLC, 9.03%, 12/04/25 (Call 02/04/23)<sup>(a)</sup> | 950 | 812335 |
| Brand Industrial Services Inc., 8.50%, 07/15/25 (Call 07/15/23)<sup>(a)(b)</sup> | 642 | 525317 |
| Tutor Perini Corp., 6.88%, 05/01/25 (Call 05/01/23)<sup>(a)(b)</sup> | 480 | 427574 |
|  |  | 1765226 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> iBonds**<sup>®</sup> **2025 Term High Yield and Income ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Entertainment — 6.5%** |  |  |
| Banijay Entertainment SASU, 5.38%, 03/01/25 (Call 03/01/23)<sup>(a)</sup> | $390 | $376237 |
| Caesars Entertainment Inc., 6.25%, 07/01/25 (Call 07/01/23)<sup>(a)</sup> | 3319 | 3306587 |
| Caesars Resort Collection LLC/CRC Finco Inc., 5.75%, 07/01/25 (Call 07/01/23)<sup>(a)</sup> | 965 | 965579 |
| Cedar Fair LP/Canada's Wonderland Co./Magnum Management Corp./Millennium Op, 5.50%, 05/01/25 (Call 05/01/23)<sup>(a)</sup> | 964 | 957348 |
| Cinemark USA Inc., 8.75%, 05/01/25 (Call 05/01/23)<sup>(a)(b)</sup> | 281 | 287612 |
| International Game Technology PLC, 6.50%, 02/15/25 (Call 08/15/24)<sup>(a)</sup> | 675 | 681993 |
| Scientific Games International Inc., 8.63%, 07/01/25 (Call 07/01/23)<sup>(a)</sup> | 530 | 543547 |
| Six Flags Theme Parks Inc., 7.00%, 07/01/25 (Call 07/01/23)<sup>(a)(b)</sup> | 355 | 359725 |
| Vail Resorts Inc., 6.25%, 05/15/25 (Call 03/03/23)<sup>(a)</sup> | 578 | 581208 |
| Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 04/15/25 (Call 04/15/23)<sup>(a)</sup> | 588 | 589993 |
|  |  | 8649829 |
| **Environmental Control — 0.9%** |  |  |
| GFL Environmental Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 08/01/25 (Call 08/01/23)<sup>(a)</sup> | 724 | 688517 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 06/01/25 (Call 06/01/23)<sup>(a)</sup> | 480 | 464621 |
|  |  | 1153138 |
| **Food — 1.9%** |  |  |
| B&G Foods Inc., 5.25%, 04/01/25 (Call 04/01/23) | 865 | 789572 |
| Chobani LLC/Chobani Finance Corp. Inc., 7.50%, 04/15/25 (Call 04/15/23)<sup>(a)(b)</sup> | 511 | 501511 |
| Performance Food Group Inc., 6.88%, 05/01/25 (Call 05/01/23)<sup>(a)(b)</sup> | 303 | 305236 |
| U.S. Foods Inc., 6.25%, 04/15/25 (Call 04/15/23)<sup>(a)(b)</sup> | 965 | 966254 |
|  |  | 2562573 |
| **Food Service — 1.5%** |  |  |
| Aramark Services Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 04/01/25 (Call 04/01/23)<sup>(a)</sup> | 578 | 569625 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 05/01/25 (Call 05/01/23)<sup>(a)(b)</sup> | 1442 | 1441884 |
|  |  | 2011509 |
| **Forest Products & Paper — 0.2%** |  |  |
| Clearwater Paper Corp., 5.38%, 02/01/25<sup>(a)(b)</sup> | 261 | 254859 |
| **Gas — 0.5%** |  |  |
| AmeriGas Partners LP/AmeriGas Finance Corp., 5.50%, 05/20/25 (Call 02/20/25) | 672 | 653910 |
| **Hand & Machine Tools — 0.1%** |  |  |
| Werner FinCo LP/Werner FinCo Inc., 8.75%, 07/15/25 (Call 07/15/23)<sup>(a)(b)</sup> | 255 | 171352 |
| **Health Care - Services — 2.8%** |  |  |
| Akumin Inc., 7.00%, 11/01/25 (Call 03/03/23)<sup>(a)</sup> | 455 | 352643 |
| Encompass Health Corp., 5.75%, 09/15/25 (Call 09/15/23) | 337 | 335507 |
| Global Medical Response Inc., 6.50%, 10/01/25 (Call 10/01/23)<sup>(a)</sup> | 580 | 408482 |
| Legacy LifePoint Health LLC, 6.75%, 04/15/25 (Call 04/15/23)<sup>(a)(b)</sup> | 577 | 562339 |
| ModivCare Inc., 5.88%, 11/15/25 (Call 11/15/23)<sup>(a)</sup> | 479 | 463543 |
| Prime Healthcare Services Inc., 7.25%, 11/01/25 (Call 11/01/23)<sup>(a)</sup> | 840 | 743056 |
| RP Escrow Issuer LLC, 5.25%, 12/15/25 (Call 12/15/23)<sup>(a)</sup> | 768 | 626542 |
| Surgery Center Holdings Inc., 6.75%, 07/01/25 (Call 03/03/23)<sup>(a)(b)</sup> | 240 | 238500 |
|  |  | 3730612 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Holding Companies - Diversified — 0.8%** |  |  |
| Icahn Enterprises LP/Icahn Enterprises Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;6.38%, 12/15/25 (Call 03/03/23) | $716 | $709828 |
| Stena International SA, 6.13%, 02/01/25 (Call 02/01/23)<sup>(a)</sup> | 335 | 317376 |
|  |  | 1027204 |
| **Home Builders — 0.8%** |  |  |
| Empire Communities Corp., 7.00%, 12/15/25 (Call 12/15/23)<sup>(a)</sup> | 457 | 413585 |
| Meritage Homes Corp., 6.00%, 06/01/25 (Call 03/01/25) | 412 | 413904 |
| New Home Co. Inc. (The), 7.25%, 10/15/25 (Call 10/15/23)<sup>(a)(b)</sup> | 270 | 235097 |
|  |  | 1062586 |
| **Household Products & Wares — 0.3%** |  |  |
| Spectrum Brands Inc., 5.75%, 07/15/25 (Call 07/15/23)<sup>(b)</sup> | 435 | 431724 |
| **Housewares — 0.9%** |  |  |
| American Greetings Corp., 8.75%, 04/15/25 (Call 04/15/23)<sup>(a)</sup> | 50 | 49498 |
| CD&R Smokey Buyer Inc., 6.75%, 07/15/25 (Call 07/15/23)<sup>(a)(b)</sup> | 676 | 613315 |
| Newell Brands Inc., 4.88%, 06/01/25 (Call 05/01/25) | 480 | 469013 |
|  |  | 1131826 |
| **Insurance — 1.7%** |  |  |
| Acrisure LLC/Acrisure Finance Inc., 7.00%, 11/15/25 (Call 03/03/23)<sup>(a)</sup> | 890 | 847565 |
| AssuredPartners Inc., 7.00%, 08/15/25 (Call 03/03/23)<sup>(a)</sup> | 479 | 472677 |
| NMI Holdings Inc., 7.38%, 06/01/25 (Call 03/30/25)<sup>(a)</sup> | 386 | 390366 |
| USI Inc./NY, 6.88%, 05/01/25 (Call 03/03/23)<sup>(a)(b)</sup> | 593 | 590082 |
|  |  | 2300690 |
| **Internet — 2.8%** |  |  |
| Gen Digital Inc., 5.00%, 04/15/25 (Call 02/13/23)<sup>(a)</sup> | 1023 | 1003072 |
| Netflix Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.63%, 06/15/25 (Call 03/15/25)<sup>(a)</sup> | 505 | 489284 |
| &nbsp;&nbsp;&nbsp;5.88%, 02/15/25 | 740 | 752750 |
| TripAdvisor Inc., 7.00%, 07/15/25 (Call 07/15/23)<sup>(a)(b)</sup> | 493 | 495243 |
| Uber Technologies Inc., 7.50%, 05/15/25 (Call 05/15/23)<sup>(a)</sup> | 964 | 978634 |
|  |  | 3718983 |
| **Leisure Time — 2.0%** |  |  |
| Constellation Merger Sub Inc., 8.50%, 09/15/25 (Call 03/03/23)<sup>(a)</sup> | 407 | 352474 |
| Royal Caribbean Cruises Ltd., 11.50%, 06/01/25 (Call 06/01/23)<sup>(a)</sup> | 1339 | 1436694 |
| Viking Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.25%, 05/15/25 (Call 05/15/23)<sup>(a)</sup> | 239 | 218883 |
| &nbsp;&nbsp;&nbsp;&nbsp;13.00%, 05/15/25 (Call 05/15/23)<sup>(a)</sup> | 650 | 689579 |
|  |  | 2697630 |
| **Lodging — 6.1%** |  |  |
| Hilton Domestic Operating Co. Inc., 5.38%, 05/01/25 (Call 05/01/23)<sup>(a)</sup> | 480 | 477970 |
| Las Vegas Sands Corp., 2.90%, 06/25/25 (Call 05/25/25) | 480 | 448982 |
| Melco Resorts Finance Ltd., 4.88%, 06/06/25 (Call 03/02/23)<sup>(b)(c)</sup> | 930 | 877492 |
| MGM China Holdings Ltd., 5.25%, 06/18/25 (Call 02/13/23)<sup>(a)</sup> | 480 | 457863 |
| MGM Resorts International |  |  |
| &nbsp;&nbsp;&nbsp;5.75%, 06/15/25 (Call 03/15/25) | 650 | 641472 |
| &nbsp;&nbsp;&nbsp;6.75%, 05/01/25 (Call 05/01/23) | 723 | 727584 |
| Sands China Ltd., 5.63%, 08/08/25 (Call 06/08/25) | 1730 | 1717700 |
| Studio City Finance Ltd., 6.00%, 07/15/25 (Call 07/15/23)<sup>(a)</sup> | 420 | 396379 |
| Sugarhouse HSP Gaming Prop Mezz LP/Sugarhouse HSP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gaming Finance Corp., 5.88%, 05/15/25 (Call 03/03/23)<sup>(a)</sup> | 295 | 277657 |
| Travel + Leisure Co., 6.60%, 10/01/25 (Call 07/01/25) | 348 | 347318 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> iBonds<sup>®</sup> 2025 Term High Yield and Income ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Lodging (continued)** |  |  |
| Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., 5.50%, 03/01/25 (Call 12/01/24)<sup>(a)</sup> | $1786 | $1737992 |
|  |  | 8108409 |
| **Machinery — 0.3%** |  |  |
| Husky III Holding Ltd. , 13.00%, 02/15/25 (Call 02/15/23), (13.75% PIK)<sup>(a)(d)</sup> | 441 | 408617 |
| **Manufacturing — 0.3%** |  |  |
| Hillenbrand Inc., 5.75%, 06/15/25 (Call 06/15/23) | 386 | 387949 |
| **Media — 1.5%** |  |  |
| AMC Networks Inc., 4.75%, 08/01/25 (Call 08/01/23)<sup>(b)</sup> | 768 | 652032 |
| Univision Communications Inc., 5.13%, 02/15/25 (Call 02/15/23)<sup>(a)</sup> | 1423 | 1386571 |
|  |  | 2038603 |
| **Mining — 0.8%** |  |  |
| Arconic Corp., 6.00%, 05/15/25 (Call 05/15/23)<sup>(a)</sup> | 675 | 671618 |
| Perenti Finance Pty Ltd., 6.50%, 10/07/25 (Call 10/07/23)<sup>(a)(b)</sup> | 420 | 414540 |
|  |  | 1086158 |
| **Office & Business Equipment — 0.5%** |  |  |
| Xerox Holdings Corp., 5.00%, 08/15/25 (Call 07/15/25)<sup>(a)</sup> | 720 | 673229 |
| **Oil & Gas — 6.6%** |  |  |
| Calumet Specialty Products Partners LP/Calumet Finance Corp., 11.00%, 04/15/25 (Call 04/15/23)<sup>(a)(b)</sup> | 527 | 555311 |
| CrownRock LP/CrownRock Finance Inc., 5.63%, 10/15/25 (Call 10/15/23)<sup>(a)</sup> | 1143 | 1118026 |
| CVR Energy Inc., 5.25%, 02/15/25 (Call 02/15/23)<sup>(a)</sup> | 577 | 557047 |
| Laredo Petroleum Inc., 9.50%, 01/15/25 (Call 01/15/24) | 452 | 456055 |
| Nabors Industries Inc., 5.75%, 02/01/25 (Call 11/01/24) | 482 | 467757 |
| Neptune Energy Bondco PLC, 6.63%, 05/15/25 (Call 05/15/23)<sup>(a)</sup> | 820 | 807864 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;5.50%, 12/01/25 (Call 09/01/25) | 715 | 719683 |
| &nbsp;&nbsp;&nbsp;5.88%, 09/01/25 (Call 06/01/25) | 800 | 809904 |
| Par Petroleum LLC/Par Petroleum Finance Corp., 7.75%, 12/15/25 (Call 12/15/23)<sup>(a)</sup> | 279 | 275035 |
| PBF Holding Co. LLC/PBF Finance Corp., 7.25%, 06/15/25 (Call 06/15/23) | 638 | 635805 |
| Range Resources Corp., 4.88%, 05/15/25 (Call 02/15/25) | 722 | 700975 |
| SM Energy Co., 5.63%, 06/01/25 (Call 06/01/23) | 356 | 348990 |
| Southwestern Energy Co., 5.70%, 01/23/25 (Call 10/23/24) | 383 | 380009 |
| Transocean Inc., 7.25%, 11/01/25 (Call 11/01/23)<sup>(a)</sup> | 340 | 323163 |
| Transocean Pontus Ltd., 6.13%, 08/01/25 (Call 08/01/23)<sup>(a)</sup> | 297 | 305761 |
| Vermilion Energy Inc., 5.63%, 03/15/25 (Call 03/15/23)<sup>(a)(b)</sup> | 296 | 291166 |
|  |  | 8752551 |
| **Oil & Gas Services — 0.7%** |  |  |
| CSI Compressco LP/CSI Compressco Finance Inc., 7.50%, 04/01/25 (Call 04/01/23)<sup>(a)(b)</sup> | 335 | 318153 |
| KCA Deutag UK Finance PLC, 9.88%, 12/01/25 (Call 02/13/23)<sup>(a)</sup> | 470 | 454913 |
| KLX Energy Services Holdings Inc., 11.50%, 11/01/25 (Call 11/01/23)<sup>(a)</sup> | 215 | 203181 |
|  |  | 976247 |
| **Packaging & Containers — 3.3%** |  |  |
| Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., 5.25%, 04/30/25 (Call 04/30/23)<sup>(a)</sup> | 675 | 661068 |
| Ball Corp., 5.25%, 07/01/25 | 965 | 959895 |
| Matthews International Corp., 5.25%, 12/01/25 (Call 12/01/23)<sup>(a)</sup> | 301 | 287205 |
| Mauser Packaging Solutions Holding Co., 7.25%, 04/15/25 (Call 03/03/23)<sup>(a)(b)</sup> | 1301 | 1265405 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Packaging & Containers (continued)** |  |  |
| Owens-Brockway Glass Container Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.38%, 01/15/25<sup>(a)(b)</sup> | $291 | $282328 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 08/15/25<sup>(a)(b)</sup> | 290 | 284365 |
| Sealed Air Corp., 5.50%, 09/15/25 (Call 06/15/25)<sup>(a)(b)</sup> | 386 | 384074 |
| Trident TPI Holdings Inc., 6.63%, 11/01/25 (Call 02/13/23)<sup>(a)</sup> | 249 | 224596 |
|  |  | 4348936 |
| **Pharmaceuticals — 1.9%** |  |  |
| Bausch Health Cos. Inc., 5.50%, 11/01/25 (Call 03/03/23)<sup>(a)</sup> | 1690 | 1432174 |
| Herbalife Nutrition Ltd./HLF Financing Inc., 7.88%, 09/01/25 (Call 03/03/23)<sup>(a)(b)</sup> | 577 | 544007 |
| Mallinckrodt International Finance SA/Mallinckrodt CB LLC, 10.00%, 04/15/25 (Call 04/15/23)<sup>(a)</sup> | 277 | 189443 |
| P&L Development LLC/PLD Finance Corp., 7.75%, 11/15/25 (Call 11/15/23)<sup>(a)</sup> | 447 | 362950 |
|  |  | 2528574 |
| **Pipelines — 5.5%** |  |  |
| Blue Racer Midstream LLC/Blue Racer Finance Corp., 7.63%, 12/15/25 (Call 12/15/23)<sup>(a)</sup> | 576 | 584853 |
| Buckeye Partners LP, 4.13%, 03/01/25 (Call 02/01/25)<sup>(a)</sup> | 480 | 456298 |
| Crestwood Midstream Partners LP/Crestwood Midstream Finance Corp., 5.75%, 04/01/25 (Call 04/01/23) | 482 | 475348 |
| EnLink Midstream Partners LP, 4.15%, 06/01/25 (Call 03/01/25) | 408 | 393577 |
| EQM Midstream Partners LP, 6.00%, 07/01/25 (Call 04/01/25)<sup>(a)</sup> | 385 | 379179 |
| Genesis Energy LP/Genesis Energy Finance Corp., 6.50%, 10/01/25 (Call 10/01/23) | 515 | 506127 |
| Martin Midstream Partners LP/Martin Midstream Finance Corp., 11.50%, 02/28/25 (Call 03/03/23)<sup>(a)</sup> | 281 | 281163 |
| New Fortress Energy Inc., 6.75%, 09/15/25 (Call 09/15/23)<sup>(a)</sup> | 1205 | 1156029 |
| NGL Energy Partners LP/NGL Energy Finance Corp., 6.13%, 03/01/25 (Call 03/01/23)<sup>(b)</sup> | 368 | 326600 |
| NuStar Logistics LP, 5.75%, 10/01/25 (Call 07/01/25) | 576 | 569923 |
| Rockies Express Pipeline LLC, 3.60%, 05/15/25 (Call 04/15/25)<sup>(a)</sup> | 386 | 366194 |
| Summit Midstream Holdings LLC/Summit Midstream Finance Corp., 5.75%, 04/15/25 (Call 04/15/23) | 249 | 214162 |
| Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 10/01/25 (Call 10/01/23)<sup>(a)(b)</sup> | 576 | 584750 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;3.35%, 02/01/25 (Call 01/01/25) | 704 | 672165 |
| &nbsp;&nbsp;&nbsp;3.95%, 06/01/25 (Call 03/01/25) | 384 | 367964 |
|  |  | 7334332 |
| **Real Estate — 0.8%** |  |  |
| Five Point Operating Co. LP/Five Point Capital Corp., 7.88%, 11/15/25 (Call 11/15/23)<sup>(a)(b)</sup> | 603 | 542838 |
| Greystar Real Estate Partners LLC, 5.75%, 12/01/25 (Call 03/03/23)<sup>(a)</sup> | 568 | 560940 |
|  |  | 1103778 |
| **Real Estate Investment Trusts — 5.7%** |  |  |
| Diversified Healthcare Trust, 9.75%, 06/15/25 (Call 06/15/23) | 479 | 470081 |
| HAT Holdings I LLC/HAT Holdings II LLC, 6.00%, 04/15/25 (Call 04/15/23)<sup>(a)(b)</sup> | 386 | 377442 |
| iStar Inc., 4.25%, 08/01/25 (Call 05/01/25) | 485 | 481484 |
| Ladder Capital Finance Holdings LLLP/Ladder Capital Finance Corp., 5.25%, 10/01/25 (Call 02/16/23)<sup>(a)</sup> | 336 | 323329 |
| New Residential Investment Corp., 6.25%, 10/15/25 (Call 10/15/23)<sup>(a)</sup> | 529 | 492615 |
| Office Properties Income Trust, 4.50%, 02/01/25 (Call 11/01/24) | 625 | 581250 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> iBonds**<sup>®</sup> **2025 Term High Yield and Income ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *<br> Par <br> (000)* | *Value* |
| **Real Estate Investment Trusts (continued)** |  |  |
| Park Intermediate Holdings LLC/PK Domestic Property LLC/PK Finance Co-Issuer, 7.50%, 06/01/25 (Call 06/01/23)<sup>(a)(b)</sup> | $624 | $632724 |
| Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;4.50%, 03/15/25 (Call 09/15/24) | 337 | 305096 |
| &nbsp;&nbsp;&nbsp;7.50%, 09/15/25 (Call 06/15/25) | 770 | 758442 |
| Starwood Property Trust Inc., 4.75%, 03/15/25 (Call 09/15/24) | 480 | 464429 |
| Uniti Group LP/Uniti Fiber Holdings Inc./CSL Capital LLC, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.88%, 02/15/25 (Call 02/15/23)<sup>(a)</sup> | 2194 | 2164842 |
| XHR LP, 6.38%, 08/15/25 (Call 08/15/23)<sup>(a)</sup> | 479 | 474287 |
|  |  | 7526021 |
| **Retail — 4.5%** |  |  |
| 1011778 BC ULC/New Red Finance Inc., 5.75%, 04/15/25 (Call 04/15/23)<sup>(a)</sup> | 479 | 478799 |
| Abercrombie & Fitch Management Co., 8.75%, 07/15/25 (Call 07/15/23)<sup>(a)(b)</sup> | 338 | 341475 |
| Bath & Body Works Inc., 9.38%, 07/01/25<sup>(a)(b)</sup> | 308 | 329828 |
| Dave & Buster's Inc., 7.63%, 11/01/25 (Call 11/01/23)<sup>(a)</sup> | 426 | 433174 |
| eG Global Finance PLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 02/07/25 (Call 05/15/23)<sup>(a)</sup> | 720 | 667692 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 10/30/25 (Call 10/30/23)<sup>(a)(b)</sup> | 610 | 582397 |
| IRB Holding Corp., 7.00%, 06/15/25 (Call 06/15/23)<sup>(a)</sup> | 723 | 725357 |
| Kohl's Corp., 4.25%, 07/17/25 (Call 04/17/25) | 340 | 326213 |
| Penske Automotive Group Inc., 3.50%, 09/01/25 (Call 09/01/23)<sup>(b)</sup> | 529 | 501138 |
| QVC Inc., 4.45%, 02/15/25 (Call 11/15/24) | 580 | 494531 |
| Rite Aid Corp., 7.50%, 07/01/25 (Call 07/01/23)<sup>(a)(b)</sup> | 298 | 196546 |
| Sally Holdings LLC/Sally Capital Inc., 5.63%, 12/01/25 (Call 12/01/23) | 657 | 650423 |
| Sizzling Platter LLC/Sizzling Platter Finance Corp., 8.50%, 11/28/25 (Call 11/28/23)<sup>(a)</sup> | 336 | 311697 |
|  |  | 6039270 |
| **Semiconductors — 0.3%** |  |  |
| ams-OSRAM AG, 7.00%, 07/31/25 (Call 07/31/23)<sup>(a)(b)</sup> | 435 | 419784 |
| **Software — 1.6%** |  |  |
| Boxer Parent Co. Inc., 7.13%, 10/02/25 (Call 06/01/23)<sup>(a)(b)</sup> | 580 | 576189 |
| PTC Inc., 3.63%, 02/15/25 (Call 02/15/23)<sup>(a)</sup> | 479 | 459428 |
| Veritas U.S. Inc./Veritas Bermuda Ltd., 7.50%, 09/01/25 (Call 09/01/23)<sup>(a)(b)</sup> | 1687 | 1112847 |
|  |  | 2148464 |
| **Telecommunications — 2.9%** |  |  |
| CommScope Technologies LLC, 6.00%, 06/15/25 (Call 06/15/23)<sup>(a)(b)</sup> | 1252 | 1185982 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par/<br> Shares <br> (000)* | *Value* |
| **Telecommunications (continued)** |  |  |
| Intrado Corp., 8.50%, 10/15/25 (Call 03/03/23)<sup>(a)</sup> | $370 | $333921 |
| Qwest Corp., 7.25%, 09/15/25 | 253 | 253144 |
| Sprint LLC, 7.63%, 02/15/25 (Call 11/15/24) | 1445 | 1499795 |
| ViaSat Inc., 5.63%, 09/15/25 (Call 02/13/23)<sup>(a)(b)</sup> | 676 | 635528 |
|  |  | 3908370 |
| **Transportation — 0.2%** |  |  |
| Western Global Airlines LLC, 10.38%, 08/15/25 (Call 08/15/23)<sup>(a)(b)</sup> | 337 | 235829 |
| **Trucking & Leasing — 0.5%** |  |  |
| Fortress Transportation and Infrastructure Investors LLC, 6.50%, 10/01/25 (Call 10/01/23)<sup>(a)</sup> | 628 | 607615 |
| **Total Long-Term Investments — 97.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $131,231,757)** |  | 130102222 |
| **Short-Term Securities** |  |  |
| **Money Market Funds — 13.3%** |  |  |
| BlackRock Cash Funds: Institutional, SL Agency Shares, 4.56%<sup>(e)(f)(g)</sup> | 17046 | 17056459 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, 4.18%<sup>(e)(f)</sup> | 640 | 640000 |
| **Total Short-Term Securities — 13.3%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $17,685,535)** |  |  |
|  |  | 17696459 |
| **Total Investments — 111.1%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $148,917,292)** |  | 147798681 |
| **Liabilities in Excess of Other Assets — (11.1)%** |  | (14807296) |
| **Net Assets — 100.0%** |  | $132991385 |

---

<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> All or a portion of this security is on loan.

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

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

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

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended January 31, 2023 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at<br> 10/31/22* | *Purchases<br> at Cost* |  | *Proceeds<br> from Sale* |  | *Net Realized<br> Gain (Loss)* | *Change in<br> Unrealized<br> Appreciation<br> (Depreciation)* | *Value at<br> 01/31/23* | *Shares<br> Held at<br> 01/31/23<br> (000)* | *Income* |  | *Capital Gain<br> Distributions from<br> Underlying Funds* |
| BlackRock Cash Funds: Institutional, SL Agency Shares | $11992444 | $5052352 | <sup>(a)</sup> | $— |  | $565 | $11098 | $17056459 | 17046 | $38475 | <sup>(b)</sup> | $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 2080000 |  |  | (1440000) |)<sup>(a)</sup> |  |  | 640000 | 640 | 10211 |  |  |
|  |  |  |  |  |  | $565 | $11098 | $17696459 |  | $48686 |  | $— |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> iBonds**<sup>®</sup> **2025 Term High Yield and Income ETF** |
| January 31, 2023 |  |

---

**Affiliates (continued)**

<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 fees and collateral investment expenses, and other payments to and from borrowers of securities.

**Fair Value Hierarchy as of Period End**

Various inputs are used in determining the fair value of financial instruments. 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 for identical assets or liabilities that each Fund has the ability to access;

● Level 2 – Other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs); and

● Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (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. There may not be a secondary market, and/or there are a limited number of investors. The categorization of a value determined for financial instruments is based on the pricing transparency of the financial instruments and is not necessarily an indication of the risks associated with investing in those securities. For information about the Fund's policy regarding valuation of financial instruments, refer to its most recent financial statements.

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-Term Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | $— | $130102222 | $— | $130102222 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short-Term Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 17696459 |  |  | 17696459 |
|  | $17696459 | $130102222 | $— | $147798681 |

---

**Portfolio Abbreviation**

PIK Payment-in-kind

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

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

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

- **a. Name of Series:** iShares iBonds 2025 Term High Yield and Income ETF

- **b. EDGAR series identifier (if any):** S000065345

- **c. LEI of Series:** 5493002LWMPQCS8D7332

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

- **a. Date of fiscal year-end:** 2023-10-31

- **b. Date as of which information is reported:** 2023-01-31

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $166223344.35

**Total Liabilities:** $33232909.94

**Net Assets:** $132990434.41

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.15000000 | **1-Year:** 0.72000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 103.27000000 | **1-Year:** 14261.01000000 | **5-Year:** 9752.36000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000211404 | 1.43%                | -0.24%               | 2.37%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-399249.67              | $1149691.03                                |
| Month 2  | $-333072.72              | $-616661.13                                |
| Month 3  | $-2098.93                | $2029086.02                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| BRINK'S CO/THE                                 | Brink's Co/The                                                                   | CUSIP: 109696AB0<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |    391000 | PA      | $386182.88    | 0.29%             | 2025-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                            | Travel + Leisure Co                                                              | CUSIP: 98310WAM0<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    348000 | PA      | $347317.92    | 0.26%             | 2025-10-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP                              | Clarios Global LP                                                                | CUSIP: 18060TAA3<br>LEI: 549300474L1ZLXZY2P98 | Long             | DBT              | CORP              | CA        |    450000 | PA      | $452844.00    | 0.34%             | 2025-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397XL2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    890000 | PA      | $850056.80    | 0.64%             | 2025-08-04      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                       | EnLink Midstream Partners LP                                                     | CUSIP: 29336UAE7<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |    408000 | PA      | $393577.20    | 0.30%             | 2025-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397A60<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1025000 | PA      | $1004541.00   | 0.76%             | 2025-06-16      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599EB7<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    800000 | PA      | $809904.00    | 0.61%             | 2025-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ARDAGH PKG FIN/HLDGS USA                       | Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc                           | CUSIP: 03969AAQ3<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    675000 | PA      | $661068.00    | 0.50%             | 2025-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| ACRISURE LLC / FIN INC                         | Acrisure LLC / Acrisure Finance Inc                                              | CUSIP: 00489LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    890000 | PA      | $847564.80    | 0.64%             | 2025-11-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NEPTUNE ENERGY BONDCO                          | Neptune Energy Bondco PLC                                                        | CUSIP: 64073KAA1<br>LEI: 549300CPMT8I2QBRYF88 | Long             | DBT              | CORP              | GB        |    820000 | PA      | $807864.00    | 0.61%             | 2025-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Ally Financial Inc                             | Ally Financial Inc                                                               | CUSIP: 02005NBF6<br>LEI: 549300JBN1OSM8YNAI90 | Long             | DBT              | CORP              | US        |   1009000 | PA      | $1001482.95   | 0.75%             | 2025-11-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| DPL INC                                        | DPL Inc                                                                          | CUSIP: 233293AR0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    398000 | PA      | $379807.42    | 0.29%             | 2025-07-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| FIVE POINT OP CO LP/FIVE                       | Five Point Operating Co LP / Five Point Capital Corp                             | CUSIP: 33834YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    603000 | PA      | $542838.69    | 0.41%             | 2025-11-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| HAT HOLDINGS I LLC/HAT                         | HAT Holdings I LLC / HAT Holdings II LLC                                         | CUSIP: 418751AB9<br>LEI: N/A                  | Long             | DBT              |  | US        |    386000 | PA      | $377442.38    | 0.28%             | 2025-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| TALLGRASS NRG PRTNR/FIN                        | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAH4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    576000 | PA      | $584749.44    | 0.44%             | 2025-10-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| AMS-OSRAM AG                                   | ams-OSRAM AG                                                                     | CUSIP: 03217CAA4<br>LEI: 5299001JPPT2QFTV5D76 | Long             | DBT              | CORP              | AT        |    435000 | PA      | $419783.70    | 0.32%             | 2025-07-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| American Greetings Corp                        | American Greetings Corp                                                          | CUSIP: 026375AR6<br>LEI: 549300WMJOT8C9DNMF90 | Long             | DBT              | CORP              | US        |     50000 | PA      | $49498.50     | 0.04%             | 2025-04-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| RITHM CAPITAL CORP                             | Rithm Capital Corp                                                               | CUSIP: 64828TAA0<br>LEI: 549300WNTHGEO5LP2G31 | Long             | DBT              |  | US        |    529000 | PA      | $492615.38    | 0.37%             | 2025-10-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| B&G Foods Inc                                  | B&G Foods Inc                                                                    | CUSIP: 05508RAE6<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |    865000 | PA      | $789572.00    | 0.59%             | 2025-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UNITI GRP/UNITI HLD/CSL                        | Uniti Group LP / Uniti Fiber Holdings Inc / CSL Capital LLC                      | CUSIP: 91327AAA0<br>LEI: N/A                  | Long             | DBT              |  | US        |   2194000 | PA      | $2164841.74   | 1.63%             | 2025-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| PERENTI FINANCE PTY LTD                        | Perenti Finance Pty Ltd                                                          | CUSIP: 71367VAA7<br>LEI: 894500ZDIIAOXSQHE612 | Long             | DBT              | CORP              | AU        |    420000 | PA      | $414540.00    | 0.31%             | 2025-10-07      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| STONEX GROUP INC                               | StoneX Group Inc                                                                 | CUSIP: 46116VAE5<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |    334000 | PA      | $337550.42    | 0.25%             | 2025-06-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| RITE AID CORP                                  | Rite Aid Corp                                                                    | CUSIP: 767754CK8<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |    298000 | PA      | $196545.90    | 0.15%             | 2025-07-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| US AIRWAYS 2013-1A PTT                         | US Airways 2013-1 Class A Pass Through Trust                                     | CUSIP: 90346WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    268518 | PA      | $249710.78    | 0.19%             | 2025-11-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| ABERCROMBIE & FITCH MANA                       | Abercrombie & Fitch Management Co                                                | CUSIP: 003000AA4<br>LEI: 5493003QMCFDA98NPT74 | Long             | DBT              | CORP              | US        |    338000 | PA      | $341474.64    | 0.26%             | 2025-07-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| EG GLOBAL FINANCE PLC                          | eG Global Finance PLC                                                            | CUSIP: 28228PAB7<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    610000 | PA      | $582397.50    | 0.44%             | 2025-10-30      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                                                   | CUSIP: 958254AE4<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    384000 | PA      | $367964.16    | 0.28%             | 2025-06-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Qwest Corp                                     | Qwest Corp                                                                       | CUSIP: 912920AK1<br>LEI: 549300R2L4N683OO1509 | Long             | DBT              | CORP              | US        |    253000 | PA      | $253144.21    | 0.19%             | 2025-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MRT MID PART/MRT MID FIN                       | Martin Midstream Partners LP / Martin Midstream Finance Corp                     | CUSIP: 573334AH2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    281000 | PA      | $281162.98    | 0.21%             | 2025-02-28      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| TEMPO ACQUISITION LLC/FI                       | Tempo Acquisition LLC / Tempo Acquisition Finance Corp                           | CUSIP: 88023JAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    277000 | PA      | $279709.06    | 0.21%             | 2025-06-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| XEROX HOLDINGS CORP                            | Xerox Holdings Corp                                                              | CUSIP: 98421MAA4<br>LEI: 5493000Y33XDVO2CXC18 | Long             | DBT              | CORP              | US        |    720000 | PA      | $673228.80    | 0.51%             | 2025-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Spectrum Brands Inc                            | Spectrum Brands Inc                                                              | CUSIP: 84762LAU9<br>LEI: 549300VU3EH2E73C1Q04 | Long             | DBT              | CORP              | US        |    435000 | PA      | $431724.45    | 0.32%             | 2025-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| MGM RESORTS INTL                               | MGM Resorts International                                                        | CUSIP: 552953CG4<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    723000 | PA      | $727583.82    | 0.55%             | 2025-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CINEMARK USA INC                               | Cinemark USA Inc                                                                 | CUSIP: 172441BC0<br>LEI: 54930008H2137JSCPQ09 | Long             | DBT              | CORP              | US        |    281000 | PA      | $287611.93    | 0.22%             | 2025-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| SUGAR HSP GMNG PROP/FIN                        | Sugarhouse HSP Gaming Prop Mezz LP / Sugarhouse HSP Gaming Finance Corp          | CUSIP: 865033AC8<br>LEI: 549300BND6SAKKOQWR95 | Long             | DBT              | CORP              | US        |    295000 | PA      | $277656.95    | 0.21%             | 2025-05-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| PERFORMANCE FOOD GROUP I                       | Performance Food Group Inc                                                       | CUSIP: 71376LAD2<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |    303000 | PA      | $305236.14    | 0.23%             | 2025-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| DAVE & BUSTER'S INC                            | Dave & Buster's Inc                                                              | CUSIP: 23833NAH7<br>LEI: 549300JAVWTAY1FT5Z45 | Long             | DBT              | CORP              | US        |    426000 | PA      | $433173.84    | 0.33%             | 2025-11-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| Ball Corp                                      | Ball Corp                                                                        | CUSIP: 058498AT3<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    965000 | PA      | $959895.15    | 0.72%             | 2025-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| JAGUAR LAND ROVER AUTOMO                       | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAJ3<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |    680000 | PA      | $669371.60    | 0.50%             | 2025-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| P&L DEV LLC/PLD FIN CORP                       | P&L Development LLC / PLD Finance Corp                                           | CUSIP: 69306RAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    447000 | PA      | $362950.59    | 0.27%             | 2025-11-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| NEW HOME CO INC/THE                            | New Home Co Inc/The                                                              | CUSIP: 645370AC1<br>LEI: 549300PLCE8TB3TVRQ85 | Long             | DBT              | CORP              | US        |    270000 | PA      | $235097.10    | 0.18%             | 2025-10-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Navient Corp                                   | Navient Corp                                                                     | CUSIP: 63938CAH1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |    483000 | PA      | $481961.55    | 0.36%             | 2025-06-25      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Intrado Corp                                   | Intrado Corp                                                                     | CUSIP: 68163PAA2<br>LEI: 5493005Z5DB0O5S30R71 | Long             | DBT              | CORP              | US        |    370000 | PA      | $333921.30    | 0.25%             | 2025-10-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS THEME PARKS                          | Six Flags Theme Parks Inc                                                        | CUSIP: 83001WAC8<br>LEI: 5493003MX0ZXTM8EVY68 | Long             | DBT              | CORP              | US        |    355000 | PA      | $359725.05    | 0.27%             | 2025-07-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| WILLIAMS SCOTSMAN INTL                         | Williams Scotsman International Inc                                              | CUSIP: 71953LAA9<br>LEI: 549300V3TCHCBOBTGH07 | Long             | DBT              | CORP              | US        |    507000 | PA      | $509154.75    | 0.38%             | 2025-06-15      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| CROWNROCK LP/CROWNROCK F                       | CrownRock LP / CrownRock Finance Inc                                             | CUSIP: 228701AF5<br>LEI: WFBCP6PB6JZR80B7U482 | Long             | DBT              | CORP              | US        |   1143000 | PA      | $1118025.45   | 0.84%             | 2025-10-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LADDER CAP FIN LLLP/CORP                       | Ladder Capital Finance Holdings LLLP / Ladder Capital Finance Corp               | CUSIP: 505742AG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    336000 | PA      | $323329.44    | 0.24%             | 2025-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MATTHEWS INTERNATIONAL C                       | Matthews International Corp                                                      | CUSIP: 577128AA9<br>LEI: 549300ZVC5O0ATML6U61 | Long             | DBT              | CORP              | US        |    301000 | PA      | $287205.17    | 0.22%             | 2025-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Freedom Mortgage Corp                          | Freedom Mortgage Corp                                                            | CUSIP: 35640YAB3<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |    520000 | PA      | $495788.80    | 0.37%             | 2025-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                               | MGM Resorts International                                                        | CUSIP: 552953CE9<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    650000 | PA      | $641472.00    | 0.48%             | 2025-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CSI COMPRESSCO LP/FINANC                       | CSI Compressco LP / CSI Compressco Finance Inc                                   | CUSIP: 12652HAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    335000 | PA      | $318152.85    | 0.24%             | 2025-04-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| AssuredPartners Inc                            | AssuredPartners Inc                                                              | CUSIP: 04624VAA7<br>LEI: 549300HNDSDQWQ3L2P80 | Long             | DBT              | CORP              | US        |    479000 | PA      | $472677.20    | 0.36%             | 2025-08-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MODIVCARE INC                                  | ModivCare Inc                                                                    | CUSIP: 743815AE2<br>LEI: 549300EFZIFW7F7I0Q28 | Long             | DBT              | CORP              | US        |    479000 | PA      | $463542.67    | 0.35%             | 2025-11-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CVR ENERGY INC                                 | CVR Energy Inc                                                                   | CUSIP: 12662PAB4<br>LEI: 529900SOYZIXZBTXB558 | Long             | DBT              | CORP              | US        |    577000 | PA      | $557047.34    | 0.42%             | 2025-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENSKE AUTOMOTIVE GROUP                        | Penske Automotive Group Inc                                                      | CUSIP: 70959WAJ2<br>LEI: 549300W7UTQ0M4C7LB15 | Long             | DBT              | CORP              | US        |    529000 | PA      | $501137.57    | 0.38%             | 2025-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| SCIENTIFIC GAMES INTERNA                       | Scientific Games International Inc                                               | CUSIP: 80874YBG4<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |    530000 | PA      | $543546.80    | 0.41%             | 2025-07-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECH LLC                             | CommScope Technologies LLC                                                       | CUSIP: 20337YAA5<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |   1252000 | PA      | $1185982.04   | 0.89%             | 2025-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| HERBALIFE/HLF FINANCING                        | Herbalife Nutrition Ltd / HLF Financing Inc                                      | CUSIP: 42704MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    577000 | PA      | $544007.14    | 0.41%             | 2025-09-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| Aptim Corp                                     | Aptim Corp                                                                       | CUSIP: 12595DAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    495000 | PA      | $352534.05    | 0.27%             | 2025-06-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                               | Vital Energy Inc                                                                 | CUSIP: 516806AF3<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |    452000 | PA      | $456054.44    | 0.34%             | 2025-01-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES INC                          | American Airlines Inc                                                            | CUSIP: 023771S58<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | DBT              | CORP              | US        |   2440000 | PA      | $2717379.20   | 2.04%             | 2025-07-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                                         | CUSIP: 81761LAA0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    770000 | PA      | $758442.30    | 0.57%             | 2025-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| EMPIRE COMMUNITIES CORP                        | Empire Communities Corp                                                          | CUSIP: 29163VAC7<br>LEI: 549300JM1L6KK2QFP273 | Long             | DBT              | CORP              | CA        |    457000 | PA      | $413585.00    | 0.31%             | 2025-12-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION                             | Kohl's Corp                                                                      | CUSIP: 500255AU8<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |    340000 | PA      | $326213.00    | 0.25%             | 2025-07-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| RITCHIE BROS AUCTIONEERS                       | Ritchie Bros Auctioneers Inc                                                     | CUSIP: 767744AA3<br>LEI: 5493002H8U24DJXQ4886 | Long             | DBT              | CORP              | CA        |    481000 | PA      | $477430.98    | 0.36%             | 2025-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                | Gen Digital Inc                                                                  | CUSIP: 871503AU2<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |   1023000 | PA      | $1003071.96   | 0.75%             | 2025-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JELD-WEN INC                                   | JELD-WEN Inc                                                                     | CUSIP: 475795AE0<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    243000 | PA      | $233355.33    | 0.18%             | 2025-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| NSG HOLDINGS LLC/NSG HLD                       | NSG Holdings LLC / NSG Holdings Inc                                              | CUSIP: 62940QAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      8424 | PA      | $8261.74      | 0.01%             | 2025-12-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares                            | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |  16565184 | NS      | $16575122.62  | 12.46%            |  |  |  | No            |                  1 | On Loan: No      |
| IRB HOLDING CORP                               | IRB Holding Corp                                                                 | CUSIP: 44988MAC9<br>LEI: 549300HVW4WNWYBXN830 | Long             | DBT              | CORP              | US        |    723000 | PA      | $725356.98    | 0.55%             | 2025-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                             | Viking Cruises Ltd                                                               | CUSIP: 92676XAE7<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    650000 | PA      | $689578.50    | 0.52%             | 2025-05-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                       | United Wholesale Mortgage LLC                                                    | CUSIP: 91153LAA5<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |    768000 | PA      | $720168.96    | 0.54%             | 2025-11-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CAESARS RESORT / FINCO                         | Caesars Resort Collection LLC / CRC Finco Inc                                    | CUSIP: 12770RAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    965000 | PA      | $965579.00    | 0.73%             | 2025-07-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AKUMIN INC                                     | Akumin Inc                                                                       | CUSIP: 01021FAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    455000 | PA      | $352643.20    | 0.27%             | 2025-11-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PROVIDENT FDG/PFG FIN                          | Provident Funding Associates LP / PFG Finance Corp                               | CUSIP: 74387UAJ0<br>LEI: 54930043BMDE130FJ617 | Long             | DBT              | CORP              | US        |    315000 | PA      | $295233.75    | 0.22%             | 2025-06-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY FINANCE LTD                        | Studio City Finance Ltd                                                          | CUSIP: 86389QAE2<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |    420000 | PA      | $396379.20    | 0.30%             | 2025-07-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Transocean Pontus Ltd                          | Transocean Pontus Ltd                                                            | CUSIP: 89382PAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    297360 | PA      | $305760.42    | 0.23%             | 2025-08-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| Seagate HDD Cayman                             | Seagate HDD Cayman                                                               | CUSIP: 81180WAL5<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |    463000 | PA      | $454471.54    | 0.34%             | 2025-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                                        | CUSIP: 674599EE1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |    715000 | PA      | $719683.25    | 0.54%             | 2025-12-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                            | NuStar Logistics LP                                                              | CUSIP: 67059TAG0<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    576000 | PA      | $569923.20    | 0.43%             | 2025-10-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| XHR LP                                         | XHR LP                                                                           | CUSIP: 98372MAA3<br>LEI: 549300M88BPT83ZL2164 | Long             | DBT              |  | US        |    479000 | PA      | $474286.64    | 0.36%             | 2025-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| QVC Inc                                        | QVC Inc                                                                          | CUSIP: 747262AU7<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |    580000 | PA      | $494531.20    | 0.37%             | 2025-02-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                 | Owens-Brockway Glass Container Inc                                               | CUSIP: 690872AB2<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    291000 | PA      | $282328.20    | 0.21%             | 2025-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| ENACT HOLDINGS INC                             | Enact Holdings Inc                                                               | CUSIP: 37255LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    722000 | PA      | $711155.56    | 0.53%             | 2025-08-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                          | GFL Environmental Inc                                                            | CUSIP: 36168QAK0<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    724000 | PA      | $688516.76    | 0.52%             | 2025-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| INTERNATIONAL GAME TECH                        | International Game Technology PLC                                                | CUSIP: 460599AC7<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |    675000 | PA      | $681993.00    | 0.51%             | 2025-02-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397ZJ5<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    350000 | PA      | $339811.50    | 0.26%             | 2025-06-09      | Fixed         | 4.69%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                                         | CUSIP: 44106MAT9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    337000 | PA      | $305096.21    | 0.23%             | 2025-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| OFFICE PPTY INCOME TRST                        | Office Properties Income Trust                                                   | CUSIP: 81618TAC4<br>LEI: N/A                  | Long             | DBT              |  | US        |    625000 | PA      | $581250.00    | 0.44%             | 2025-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Clearwater Paper Corp                          | Clearwater Paper Corp                                                            | CUSIP: 18538RAH6<br>LEI: 549300HCVV19GXN4P292 | Long             | DBT              | CORP              | US        |    261000 | PA      | $254858.67    | 0.19%             | 2025-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| GREYSTAR REAL ESTATE PAR                       | Greystar Real Estate Partners LLC                                                | CUSIP: 39807UAB2<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |    568000 | PA      | $560939.76    | 0.42%             | 2025-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| WESTERN GLOBAL AIRLINES                        | Western Global Airlines LLC                                                      | CUSIP: 958278AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    337000 | PA      | $235829.23    | 0.18%             | 2025-08-15      | Fixed         | 10.38%                | No            |                  2 | On Loan: —       |
| SABRE GLBL INC                                 | Sabre GLBL Inc                                                                   | CUSIP: 78573NAC6<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    748000 | PA      | $763924.92    | 0.57%             | 2025-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: —       |
| Drax Finco PLC                                 | Drax Finco PLC                                                                   | CUSIP: 26151AAA7<br>LEI: 5493000MW6H7G7JFNQ88 | Long             | DBT              | CORP              | GB        |    480000 | PA      | $468547.20    | 0.35%             | 2025-11-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                         | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AK0<br>LEI: H36E1IF6YS0OBMHM6168 | Long             | DBT              | CORP              | US        |    672000 | PA      | $653909.76    | 0.49%             | 2025-05-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MALLINCKRODT FIN/SB                            | Mallinckrodt International Finance SA / Mallinckrodt CB LLC                      | CUSIP: 561233AH0<br>LEI: N/A                  | Long             | DBT              | CORP              | LU        |    277000 | PA      | $189443.07    | 0.14%             | 2025-04-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| VERITAS US INC/BERMUDA L                       | Veritas US Inc / Veritas Bermuda Ltd                                             | CUSIP: 92346LAE3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1687000 | PA      | $1112846.42   | 0.84%             | 2025-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| ICAHN ENTERPRISES/FIN                          | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BQ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    716000 | PA      | $709828.08    | 0.53%             | 2025-12-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ISTAR INC                                      | iStar Inc                                                                        | CUSIP: 45031UCG4<br>LEI: QFFLKWYYS3UPWD86E794 | Long             | DBT              |  | US        |    485000 | PA      | $481483.75    | 0.36%             | 2025-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PAR PETRO LLC / FIN CORP                       | Par Petroleum LLC / Par Petroleum Finance Corp                                   | CUSIP: 69889MAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    279000 | PA      | $275035.41    | 0.21%             | 2025-12-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| WERNER FINCO LP/INC                            | Werner FinCo LP / Werner FinCo Inc                                               | CUSIP: 95076PAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    255000 | PA      | $171352.35    | 0.13%             | 2025-07-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| CALUMET SPECIALTY PROD                         | Calumet Specialty Products Partners LP / Calumet Finance Corp                    | CUSIP: 131477AT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    527000 | PA      | $555310.44    | 0.42%             | 2025-04-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: —       |
| Tutor Perini Corp                              | Tutor Perini Corp                                                                | CUSIP: 901109AF5<br>LEI: 549300FHXYVPW8LJ6D98 | Long             | DBT              | CORP              | US        |    480000 | PA      | $427574.40    | 0.32%             | 2025-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| AVIENT CORP                                    | Avient Corp                                                                      | CUSIP: 73179PAM8<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |    627000 | PA      | $621601.53    | 0.47%             | 2025-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| CAESARS ENTERTAIN INC                          | Caesars Entertainment Inc                                                        | CUSIP: 28470RAH5<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |   3319000 | PA      | $3306586.94   | 2.49%             | 2025-07-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Vermilion Energy Inc                           | Vermilion Energy Inc                                                             | CUSIP: 923725AB1<br>LEI: WT03B8BB1IX8WI9ZGV02 | Long             | DBT              | CORP              | CA        |    296000 | PA      | $291166.32    | 0.22%             | 2025-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| PRA GROUP INC                                  | PRA Group Inc                                                                    | CUSIP: 69354NAC0<br>LEI: 549300Q5HW3JSSB86K27 | Long             | DBT              | CORP              | US        |    287000 | PA      | $285131.63    | 0.21%             | 2025-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Koppers Inc                                    | Koppers Inc                                                                      | CUSIP: 500605AH3<br>LEI: LTO4ZL5EBDR1NE6FGJ36 | Long             | DBT              | CORP              | US        |    483000 | PA      | $479005.59    | 0.36%             | 2025-02-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CONSTELLATION MERGER SUB                       | Constellation Merger Sub Inc                                                     | CUSIP: 210374AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    407000 | PA      | $352474.21    | 0.27%             | 2025-09-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| USI Inc/NY                                     | USI Inc/NY                                                                       | CUSIP: 91739VAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    593000 | PA      | $590082.44    | 0.44%             | 2025-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NGL ENRGY PART LP/FIN CO                       | NGL Energy Partners LP / NGL Energy Finance Corp                                 | CUSIP: 62913TAM4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    368000 | PA      | $326600.00    | 0.25%             | 2025-03-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: —       |
| PENNYMAC FIN SVCS INC                          | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAA5<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |    624000 | PA      | $582011.04    | 0.44%             | 2025-10-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| TRIPADVISOR INC                                | TripAdvisor Inc                                                                  | CUSIP: 896945AA0<br>LEI: 549300XVG45PT5BART17 | Long             | DBT              | CORP              | US        |    493000 | PA      | $495243.15    | 0.37%             | 2025-07-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| GFL ENVIRONMENTAL INC                          | GFL Environmental Inc                                                            | CUSIP: 36168QAJ3<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    480000 | PA      | $464620.80    | 0.35%             | 2025-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HILLENBRAND INC                                | Hillenbrand Inc                                                                  | CUSIP: 431571AD0<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |    386000 | PA      | $387949.30    | 0.29%             | 2025-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SIZZLING PLATT/FIN CO                          | Sizzling Platter LLC / Sizzling Platter Finance Corp                             | CUSIP: 830146AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    336000 | PA      | $311697.12    | 0.23%             | 2025-11-28      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| Mauser Packaging Solut                         | Mauser Packaging Solutions Holding Co                                            | CUSIP: 12429TAE4<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   1301000 | PA      | $1265404.64   | 0.95%             | 2025-04-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Meritage Homes Corp                            | Meritage Homes Corp                                                              | CUSIP: 59001AAY8<br>LEI: 52990044W9UMFJO2FB97 | Long             | DBT              | CORP              | US        |    412000 | PA      | $413903.44    | 0.31%             | 2025-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                              | Newell Brands Inc                                                                | CUSIP: 651229BB1<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |    480000 | PA      | $469012.80    | 0.35%             | 2025-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Jeld-Wen Inc                                   | JELD-WEN Inc                                                                     | CUSIP: 475795AC4<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    387000 | PA      | $342467.91    | 0.26%             | 2025-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CEDAR FAIR/CAN/MAGNUM/MI                       | Cedar Fair LP / Canada's Wonderland Co / Magnum Management Corp / Millennium Op  | CUSIP: 150190AF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    964000 | PA      | $957348.40    | 0.72%             | 2025-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES GROUP                        | American Airlines Group Inc                                                      | CUSIP: 02376RAE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    479000 | PA      | $447797.94    | 0.34%             | 2025-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| BOXER PARENT CO INC                            | Boxer Parent Co Inc                                                              | CUSIP: 103186AB8<br>LEI: 5493006T045HLTF7YX04 | Long             | DBT              | CORP              | US        |    580000 | PA      | $576189.40    | 0.43%             | 2025-10-02      | Fixed         | 7.13%                 | No            |                  2 | On Loan: —       |
| Bausch Health Cos Inc                          | Bausch Health Cos Inc                                                            | CUSIP: 91911KAN2<br>LEI: B3BS7ACMDUWISF18KY76 | Long             | DBT              | CORP              | CA        |   1690000 | PA      | $1432173.60   | 1.08%             | 2025-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| KCA DEUTAG UK FINANCE PL                       | KCA Deutag UK Finance PLC                                                        | CUSIP: 000000000<br>LEI: 529900T5G3VI71LSI184 | Long             | DBT              | CORP              | GB        |    470000 | PA      | $454913.00    | 0.34%             | 2025-12-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B28<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1230000 | PA      | $1145622.00   | 0.86%             | 2025-11-13      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                        | Starwood Property Trust Inc                                                      | CUSIP: 85571BAL9<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |    480000 | PA      | $464428.80    | 0.35%             | 2025-03-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Viking Cruises Ltd                             | Viking Cruises Ltd                                                               | CUSIP: 92676XAC1<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    239000 | PA      | $218883.37    | 0.16%             | 2025-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| DIEBOLD NIXDORF INC                            | Diebold Nixdorf Inc                                                              | CUSIP: 253651AD5<br>LEI: 549300XZK6EWDBAZSY16 | Long             | DBT              | CORP              | US        |    386000 | PA      | $254015.02    | 0.19%             | 2025-07-15      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                                        | CUSIP: 26885BAF7<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |    385000 | PA      | $379178.80    | 0.29%             | 2025-07-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                         | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BH3<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |    770000 | PA      | $797111.70    | 0.60%             | 2025-05-31      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                       | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAK5<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    479000 | PA      | $478798.82    | 0.36%             | 2025-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHOBANI LLC/FINANCE CORP                       | Chobani LLC / Chobani Finance Corp Inc                                           | CUSIP: 17027NAA0<br>LEI: 549300Q10QN3IXF3HZ69 | Long             | DBT              | CORP              | US        |    511000 | PA      | $501510.73    | 0.38%             | 2025-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| Sands China Ltd                                | Sands China Ltd                                                                  | CUSIP: 80007RAF2<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   1730000 | PA      | $1717699.70   | 1.29%             | 2025-08-08      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                                      | CUSIP: 780153AZ5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   1339000 | PA      | $1436693.44   | 1.08%             | 2025-06-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| ARCONIC CORP                                   | Arconic Corp                                                                     | CUSIP: 03966VAB3<br>LEI: 549300B4YFWH3U74B152 | Long             | DBT              | CORP              | US        |    675000 | PA      | $671618.25    | 0.51%             | 2025-05-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| SUMMIT MID HLDS LLC / FI                       | Summit Midstream Holdings LLC / Summit Midstream Finance Corp                    | CUSIP: 86614WAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    249000 | PA      | $214162.41    | 0.16%             | 2025-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| RP ESCROW ISSUER LLC                           | RP Escrow Issuer LLC                                                             | CUSIP: 74969PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    768000 | PA      | $626542.08    | 0.47%             | 2025-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                       | Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd                                 | CUSIP: 84859BAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    580000 | PA      | $593450.20    | 0.45%             | 2025-09-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| KLX ENERGY SERVICES HOLD                       | KLX Energy Services Holdings Inc                                                 | CUSIP: 48253LAA4<br>LEI: 5493004D4S7MAO1H3U27 | Long             | DBT              | CORP              | US        |    215000 | PA      | $203181.45    | 0.15%             | 2025-11-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                           | Las Vegas Sands Corp                                                             | CUSIP: 517834AH0<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |    480000 | PA      | $448982.40    | 0.34%             | 2025-06-25      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS LP                            | Buckeye Partners LP                                                              | CUSIP: 118230AT8<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    480000 | PA      | $456297.60    | 0.34%             | 2025-03-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Rolls-Royce PLC                                | Rolls-Royce PLC                                                                  | CUSIP: 77578JAB4<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |    965000 | PA      | $900576.60    | 0.68%             | 2025-10-14      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                                    | CUSIP: 893647BK2<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |   1058000 | PA      | $1079794.80   | 0.81%             | 2025-12-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                       | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    421000 | PA      | $423774.39    | 0.32%             | 2025-06-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SPRINT LLC                                     | Sprint LLC                                                                       | CUSIP: 85207UAJ4<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |   1445000 | PA      | $1499794.40   | 1.13%             | 2025-02-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                     | Viasat Inc                                                                       | CUSIP: 92552VAK6<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    676000 | PA      | $635527.88    | 0.48%             | 2025-09-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| LIKEWIZE CORP                                  | Likewize Corp                                                                    | CUSIP: 10947XAA0<br>LEI: TF9O1XIG83ZLXX7WN472 | Long             | DBT              | CORP              | US        |    403000 | PA      | $380552.90    | 0.29%             | 2025-10-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| BANIJAY ENTERTAINMENT                          | Banijay Entertainment SASU                                                       | CUSIP: 060335AA4<br>LEI: 969500CE0IE2EZ5VBG13 | Long             | DBT              | CORP              | FR        |    390000 | PA      | $376236.90    | 0.28%             | 2025-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL INTL BV                          | Clear Channel International BV                                                   | CUSIP: 18452MAB2<br>LEI: N/A                  | Long             | DBT              | CORP              | NL        |    360000 | PA      | $352908.00    | 0.27%             | 2025-08-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| LEGACY LIFEPOINT HEALTH                        | Legacy LifePoint Health LLC                                                      | CUSIP: 53219LAT6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    577000 | PA      | $562338.43    | 0.42%             | 2025-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| NMI HOLDINGS                                   | NMI Holdings Inc                                                                 | CUSIP: 629209AA5<br>LEI: 529900KNNGFXJX1C3Z08 | Long             | DBT              | CORP              | US        |    386000 | PA      | $390365.66    | 0.29%             | 2025-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| HUSKY III HOLDING LTD                          | Husky III Holding Ltd                                                            | CUSIP: 44810RAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |    441000 | PA      | $408617.37    | 0.31%             | 2025-02-15      | Fixed         | 13.00%                | No            |                  2 | On Loan: —       |
| Sealed Air Corp                                | Sealed Air Corp                                                                  | CUSIP: 81211KAX8<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    386000 | PA      | $384073.86    | 0.29%             | 2025-09-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| NETFLIX INC                                    | Netflix Inc                                                                      | CUSIP: 64110LAY2<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    505000 | PA      | $489284.40    | 0.37%             | 2025-06-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Aramark Services Inc                           | Aramark Services Inc                                                             | CUSIP: 038522AP3<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |    578000 | PA      | $569624.78    | 0.43%             | 2025-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYNN LAS VEGAS LLC/CORP                        | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp                                 | CUSIP: 983130AV7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1786000 | PA      | $1737992.32   | 1.31%             | 2025-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Artera Services LLC                            | Artera Services LLC                                                              | CUSIP: 73939VAA2<br>LEI: 549300J2G34D0WX8Z443 | Long             | DBT              | CORP              | US        |    950000 | PA      | $812335.50    | 0.61%             | 2025-12-04      | Fixed         | 9.03%                 | No            |                  2 | On Loan: No      |
| ARAMARK SERVICES INC                           | Aramark Services Inc                                                             | CUSIP: 038522AR9<br>LEI: 42YMHYH0XMHJEXDUB065 | Long             | DBT              | CORP              | US        |   1442000 | PA      | $1441884.64   | 1.08%             | 2025-05-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| WYNN RESORTS FINANCE LLC                       | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    588000 | PA      | $589993.32    | 0.44%             | 2025-04-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| KAR Auction Services Inc                       | KAR Auction Services Inc                                                         | CUSIP: 48238TAA7<br>LEI: 5493004HKD20LBSG7D03 | Long             | DBT              | CORP              | US        |    362000 | PA      | $355795.32    | 0.27%             | 2025-06-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| WESCO DISTRIBUTION INC                         | WESCO Distribution Inc                                                           | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |   1443000 | PA      | $1465958.13   | 1.10%             | 2025-06-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BLUE RACER MID LLC/FINAN                       | Blue Racer Midstream LLC / Blue Racer Finance Corp                               | CUSIP: 095796AH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    576000 | PA      | $584853.12    | 0.44%             | 2025-12-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| SLM CORP                                       | SLM Corp                                                                         | CUSIP: 78442PGD2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    480000 | PA      | $449529.60    | 0.34%             | 2025-10-29      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| SPIRIT AEROSYSTEMS INC                         | Spirit AeroSystems Inc                                                           | CUSIP: 85205TAL4<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |   1157000 | PA      | $1160829.67   | 0.87%             | 2025-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| TRIDENT TPI HOLDINGS INC                       | Trident TPI Holdings Inc                                                         | CUSIP: 89616RAA7<br>LEI: 549300TPLK304J3RNC85 | Long             | DBT              | CORP              | US        |    249000 | PA      | $224595.51    | 0.17%             | 2025-11-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                                         | CUSIP: 345397B85<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |    730000 | PA      | $678527.70    | 0.51%             | 2025-02-10      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| ASTON MARTIN CAPITAL HOL                       | Aston Martin Capital Holdings Ltd                                                | CUSIP: 04625HAG4<br>LEI: 213800H4GKEF3CJ8C774 | Long             | DBT              | CORP              | JE        |   1100000 | PA      | $1079793.00   | 0.81%             | 2025-11-30      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| LD HOLDINGS GROUP LLC                          | LD Holdings Group LLC                                                            | CUSIP: 521088AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    480000 | PA      | $367987.20    | 0.28%             | 2025-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PARK INTERMED HOLDINGS                         | Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer | CUSIP: 70052LAA1<br>LEI: N/A                  | Long             | DBT              |  | US        |    624000 | PA      | $632723.52    | 0.48%             | 2025-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| ALLIANCE RES OP/FINANCE                        | Alliance Resource Operating Partners LP / Alliance Resource Finance Corp         | CUSIP: 01879NAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    385000 | PA      | $382466.70    | 0.29%             | 2025-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| FIRSTENERGY CORP                               | FirstEnergy Corp                                                                 | CUSIP: 337932AK3<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |    290000 | PA      | $272063.50    | 0.20%             | 2025-03-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| CRESTWOOD MID PARTNER LP                       | Crestwood Midstream Partners LP / Crestwood Midstream Finance Corp               | CUSIP: 226373AP3<br>LEI: 549300VJQPPSEJPBNA66 | Long             | DBT              | CORP              | US        |    482000 | PA      | $475348.40    | 0.36%             | 2025-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| PTC Inc                                        | PTC Inc                                                                          | CUSIP: 69370CAB6<br>LEI: 54930050SSMU8SKDJ030 | Long             | DBT              | CORP              | US        |    479000 | PA      | $459428.06    | 0.35%             | 2025-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD                         | MGM China Holdings Ltd                                                           | CUSIP: 55300RAE1<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |    480000 | PA      | $457862.40    | 0.34%             | 2025-06-18      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| UBER TECHNOLOGIES INC                          | Uber Technologies Inc                                                            | CUSIP: 90353TAF7<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    964000 | PA      | $978633.52    | 0.74%             | 2025-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                          | Bath & Body Works Inc                                                            | CUSIP: 501797AU8<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    308000 | PA      | $329827.96    | 0.25%             | 2025-07-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: —       |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                             | CUSIP: 85172FAM1<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1205000 | PA      | $1201059.65   | 0.90%             | 2025-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| VAIL RESORTS INC                               | Vail Resorts Inc                                                                 | CUSIP: 91879QAL3<br>LEI: 529900PSZHRNU9HKH870 | Long             | DBT              | CORP              | US        |    578000 | PA      | $581207.90    | 0.44%             | 2025-05-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| SURGERY CENTER HOLDINGS                        | Surgery Center Holdings Inc                                                      | CUSIP: 84611WAB0<br>LEI: 54930054EVI5HWPPW113 | Long             | DBT              | CORP              | US        |    240000 | PA      | $238500.00    | 0.18%             | 2025-07-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| SALLY HOLDINGS/SALLY CAP                       | Sally Holdings LLC / Sally Capital Inc                                           | CUSIP: 79546VAL0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    657000 | PA      | $650423.43    | 0.49%             | 2025-12-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES HOLDINGS                       | United Airlines Holdings Inc                                                     | CUSIP: 910047AK5<br>LEI: 98450079DA0B78DD6764 | Long             | DBT              | CORP              | US        |    346000 | PA      | $339848.12    | 0.26%             | 2025-01-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| STENA INTERNATIONAL SA                         | Stena International SA                                                           | CUSIP: 85858EAB9<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |    335000 | PA      | $317375.65    | 0.24%             | 2025-02-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| SPIRIT LOYALTY KY LTD/IP                       | Spirit Loyalty Cayman Ltd / Spirit IP Cayman Ltd                                 | CUSIP: 84859BAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    491000 | PA      | $500427.20    | 0.38%             | 2025-09-20      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PRIME HEALTHCARE SERVICE                       | Prime Healthcare Services Inc                                                    | CUSIP: 74165HAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    840000 | PA      | $743055.60    | 0.56%             | 2025-11-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Co                         | Southwestern Energy Co                                                           | CUSIP: 845467AL3<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |    383000 | PA      | $380008.77    | 0.29%             | 2025-01-23      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Range Resources Corp                           | Range Resources Corp                                                             | CUSIP: 75281AAS8<br>LEI: H3Y3WLYCX0BTO1TRW162 | Long             | DBT              | CORP              | US        |    722000 | PA      | $700975.36    | 0.53%             | 2025-05-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| NEW FORTRESS ENERGY INC                        | New Fortress Energy Inc                                                          | CUSIP: 644393AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1205000 | PA      | $1156028.80   | 0.87%             | 2025-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| RAIN CII CARBON LLC/CII                        | Rain CII Carbon LLC / CII Carbon Corp                                            | CUSIP: 75079RAC2<br>LEI: 5493002CIT11OW5J8846 | Long             | DBT              | CORP              | US        |    527000 | PA      | $496802.90    | 0.37%             | 2025-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Netflix Inc                                    | Netflix Inc                                                                      | CUSIP: 64110LAL0<br>LEI: 549300Y7VHGU0I7CE873 | Long             | DBT              | CORP              | US        |    740000 | PA      | $752750.20    | 0.57%             | 2025-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Sensata Technologies BV                        | Sensata Technologies BV                                                          | CUSIP: 81725WAJ2<br>LEI: PUCKW5P5O3XMOZVH7T53 | Long             | DBT              | CORP              | NL        |    672000 | PA      | $664466.88    | 0.50%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                          | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAJ1<br>LEI: 549300VJ5D6MDK138782 | Long             | DBT              | CORP              | US        |    515000 | PA      | $506126.55    | 0.38%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                       | Univision Communications Inc                                                     | CUSIP: 914906AS1<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |   1423000 | PA      | $1386571.20   | 1.04%             | 2025-02-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| GLOBAL MEDICAL RESPONSE                        | Global Medical Response Inc                                                      | CUSIP: 37960BAA3<br>LEI: 549300ZFWD4ZFCEJCQ87 | Long             | DBT              | CORP              | US        |    580000 | PA      | $408482.40    | 0.31%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                       | Fortress Transportation and Infrastructure Investors LLC                         | CUSIP: 34960PAB7<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    628000 | PA      | $607615.12    | 0.46%             | 2025-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                           | Howmet Aerospace Inc                                                             | CUSIP: 443201AA6<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |    570000 | PA      | $586661.10    | 0.44%             | 2025-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                 | Sabre GLBL Inc                                                                   | CUSIP: 78573NAF9<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    819000 | PA      | $809286.66    | 0.61%             | 2025-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| CD&R SMOKEY BUYER INC                          | CD&R Smokey Buyer Inc                                                            | CUSIP: 12510CAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    676000 | PA      | $613314.52    | 0.46%             | 2025-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| BRAND INDUSTRIAL SERVICE                       | Brand Industrial Services Inc                                                    | CUSIP: 10524PAB6<br>LEI: 549300B658W2BPDQMW42 | Long             | DBT              | CORP              | US        |    642000 | PA      | $525316.50    | 0.40%             | 2025-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| eG Global Finance PLC                          | eG Global Finance PLC                                                            | CUSIP: 28228PAA9<br>LEI: 549300TL8Q5207VYET27 | Long             | DBT              | CORP              | GB        |    720000 | PA      | $667692.00    | 0.50%             | 2025-02-07      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Enova International Inc                        | Enova International Inc                                                          | CUSIP: 29357KAF0<br>LEI: 549300O8XOCQSB49UO63 | Long             | DBT              | CORP              | US        |    363000 | PA      | $345343.68    | 0.26%             | 2025-09-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                 | Owens-Brockway Glass Container Inc                                               | CUSIP: 69073TAS2<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    290000 | PA      | $284365.30    | 0.21%             | 2025-08-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Nabors Industries Inc                          | Nabors Industries Inc                                                            | CUSIP: 62957HAF2<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |    482000 | PA      | $467756.90    | 0.35%             | 2025-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Encompass Health Corp                          | Encompass Health Corp                                                            | CUSIP: 421924BT7<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |    337000 | PA      | $335507.09    | 0.25%             | 2025-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                       | Diversified Healthcare Trust                                                     | CUSIP: 25525PAA5<br>LEI: N/A                  | Long             | DBT              |  | US        |    479000 | PA      | $470081.02    | 0.35%             | 2025-06-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| Triumph Group Inc                              | Triumph Group Inc                                                                | CUSIP: 896818AP6<br>LEI: 5493007L6S47Q14SL582 | Long             | DBT              | CORP              | US        |    483000 | PA      | $410912.25    | 0.31%             | 2025-08-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Transocean Inc                                 | Transocean Inc                                                                   | CUSIP: 893830BK4<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    340000 | PA      | $323163.20    | 0.24%             | 2025-11-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| DANA FINANCING LUX SARL                        | Dana Financing Luxembourg Sarl                                                   | CUSIP: 235822AB9<br>LEI: 222100DKCE3D036DQU13 | Long             | DBT              | CORP              | LU        |    396000 | PA      | $393750.72    | 0.30%             | 2025-04-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                   | SM Energy Co                                                                     | CUSIP: 78454LAL4<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    356000 | PA      | $348990.36    | 0.26%             | 2025-06-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| TRINSEO OP / TRINSEO FIN                       | Trinseo Materials Operating SCA / Trinseo Materials Finance Inc                  | CUSIP: 89668QAE8<br>LEI: 222100SZ6J5ZF05ZTR58 | Long             | DBT              | CORP              | LU        |    480000 | PA      | $420177.60    | 0.32%             | 2025-09-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| MELCO RESORTS FINANCE                          | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    930000 | PA      | $877492.20    | 0.66%             | 2025-06-06      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| ROCKIES EXPRESS PIPELINE                       | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAS6<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |    386000 | PA      | $366194.34    | 0.28%             | 2025-05-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| PBF HOLDING CO LLC                             | PBF Holding Co LLC / PBF Finance Corp                                            | CUSIP: 69318FAG3<br>LEI: 549300TILVIIV9FLL461 | Long             | DBT              | CORP              | US        |    638000 | PA      | $635805.28    | 0.48%             | 2025-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                  | ZF North America Capital Inc                                                     | CUSIP: 98877DAC9<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |   1035000 | PA      | $1000731.15   | 0.75%             | 2025-04-29      | Fixed         | 4.75%                 | 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        |    640000 | NS      | $640000.00    | 0.48%             |  |  |  | No            |                  1 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                                                   | CUSIP: 958667AB3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |    704000 | PA      | $672165.12    | 0.51%             | 2025-02-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| G-III APPAREL GROUP LTD                        | G-III Apparel Group Ltd                                                          | CUSIP: 36237HAA9<br>LEI: 529900O5KABM3R3SFM87 | Long             | DBT              | CORP              | US        |    384000 | PA      | $365214.72    | 0.27%             | 2025-08-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| AMC Networks Inc                               | AMC Networks Inc                                                                 | CUSIP: 00164VAE3<br>LEI: 549300VGG9K75226LR46 | Long             | DBT              | CORP              | US        |    768000 | PA      | $652032.00    | 0.49%             | 2025-08-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| Bombardier Inc                                 | Bombardier Inc                                                                   | CUSIP: 097751BM2<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   1071000 | PA      | $1071942.48   | 0.81%             | 2025-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| US FOODS INC                                   | US Foods Inc                                                                     | CUSIP: 90290MAC5<br>LEI: 5493000JOOFAOUY1JZ87 | Long             | DBT              | CORP              | US        |    965000 | PA      | $966254.50    | 0.73%             | 2025-04-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| HILTON DOMESTIC OPERATIN                       | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AG6<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    480000 | PA      | $477969.60    | 0.36%             | 2025-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-03-01

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer