# EDGAR Filing Document

**Accession Number:** 0001804196
**File Stem:** 0001410368-25-043412
**Filing Date:** 2025-12
**Character Count:** 1085469
**Document Hash:** ffd13a3818e7882625836722790f0604
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-043412.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001410368-25-043412

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**PERIOD START**: 20260731

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23511
- **FILM NUMBER:** 251606824

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

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

## Series and Classes Contracts Data

### iShares Total Return Active ETF (Series ID: S000083073)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000246586 | iShares Total Return Active ETF |  |

## Nport-Ex

October 31, 2025

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

2025 Quarterly Report <br>&nbsp;&nbsp;&nbsp;&nbsp;(Unaudited)<br>

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

---

| |
|:---|
| **BlackRock ETF Trust II** |
| • iShares Total Return Active ETF \| BRTR \| NASDAQ |

---

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

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

------

Schedule of Investments (unaudited)

October 31, 2025

**iShares Total Return Active ETF**

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

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Asset-Backed Securities** | **Asset-Backed Securities** | **Asset-Backed Securities** |
| &nbsp;&nbsp;&nbsp; ACREC LLC, 5.34%, 08/18/42, (1-mo. CME <br> Term SOFR +1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; $100 | &nbsp;&nbsp; $99617 |
| &nbsp;&nbsp;&nbsp; ACRES LLC, 5.65%, 08/18/40, (1-mo. CME <br> Term SOFR +1.62%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 385 | &nbsp;&nbsp; 384984 |
| &nbsp;&nbsp;&nbsp; Affirm Asset Securitization Trust, 5.19%, <br> 04/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 292 | &nbsp;&nbsp; 292815 |
| Affirm Master Trust, 4.99%, 02/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 133 | &nbsp;&nbsp; 133927 |
| &nbsp;&nbsp;&nbsp; AGL Core CLO 2 Ltd., 5.34%, 07/20/37, (3-mo. <br> CME Term SOFR +1.46%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250867 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 15 Ltd., 5.62%, <br> 07/20/38, (3-mo. CME Term SOFR <br> +1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250719 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 17 Ltd., 5.13%, <br> 02/15/38, (3-mo. CME Term SOFR <br> +1.23%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250315 |
| &nbsp;&nbsp;&nbsp; Anchorage Capital CLO 8 Ltd., 5.92%, <br> 10/27/34, (3-mo. CME Term SOFR <br> +2.06%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp; Apidos Clo LIV, 8.07%, 10/20/38, (3-mo. CME <br> Term SOFR +3.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250878 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XXXIV, 5.30%, 01/20/35, (3-mo. <br> CME Term SOFR +1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250218 |
| &nbsp;&nbsp;&nbsp; Apidos CLO XXXIX Ltd., 5.40%, <br> 10/21/38, (3-mo. CME Term SOFR <br> +1.23%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 500609 |
| &nbsp;&nbsp;&nbsp; Arbor Realty Commercial Real Estate <br> Notes LLC, 5.39%, 01/20/43, (1-mo. CME <br> Term SOFR +1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 175 | &nbsp;&nbsp; 175023 |
| AREIT Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 05/17/41, (1-mo. CME Term SOFR <br> +1.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp; 110207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.42%, 12/17/29, (1-mo. CME Term SOFR <br> +1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 323 | &nbsp;&nbsp; 322976 |
| &nbsp;&nbsp;&nbsp; ARES LX CLO Ltd., 5.06%, 07/18/34, (3-mo. <br> CME Term SOFR +1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 249997 |
| &nbsp;&nbsp;&nbsp; Ares XLI Clo Ltd., 5.62%, 04/15/34, (3-mo. <br> CME Term SOFR +1.71%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 300 | &nbsp;&nbsp; 300101 |
| &nbsp;&nbsp;&nbsp; ARES XLIV CLO Ltd., 6.65%, 04/15/34, (3-mo. <br> CME Term SOFR +2.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250023 |
| &nbsp;&nbsp;&nbsp; Argent Securities Trust, 4.69%, <br> 03/25/36, (1-mo. CME Term SOFR <br> +0.69%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp; 145340 |
| &nbsp;&nbsp;&nbsp; Ballyrock CLO 14 Ltd., 5.26%, 07/20/37, (3-mo. <br> CME Term SOFR +1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250660 |
| &nbsp;&nbsp;&nbsp; BBAM U.S. CLO I Ltd., 5.10%, 03/30/38, (3-mo. <br> CME Term SOFR +1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250288 |
| &nbsp;&nbsp;&nbsp; BBAM U.S. CLO VI Ltd., 1.00%, <br> 01/27/39, (3-mo. CME Term SOFR <br> +1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp; BDS LLC, 5.61%, 09/19/39, (1-mo. CME Term <br> SOFR +1.58%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp; 137986 |
| Bear Stearns Asset Backed Securities I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.49%, 06/25/47, (1-mo. CME Term SOFR <br> +0.49%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 92 | &nbsp;&nbsp; 83705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.42%, 10/25/36, (1-mo. CME Term SOFR <br> +0.73%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp; 62520 |
| Bear Stearns Structured Products Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.11%, 03/25/37, (1-mo. CME Term SOFR <br> +2.11%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp; 54524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.11%, 03/25/37, (1-mo. CME Term SOFR <br> +2.11%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 89120 |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXIX, 5.04%, <br> 01/25/38, (3-mo. CME Term SOFR <br> +1.18%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250000 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Benefit Street Partners CLO XXVII Ltd., 5.25%, <br> 10/20/37, (3-mo. CME Term SOFR <br> +1.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; $250 | &nbsp;&nbsp; $250666 |
| &nbsp;&nbsp;&nbsp; Birch Grove CLO 6 Ltd., 5.75%, <br> 07/20/37, (3-mo. CME Term SOFR <br> +1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250527 |
| &nbsp;&nbsp;&nbsp; Birch Grove CLO 7 Ltd., 5.14%, <br> 10/20/38, (3-mo. CME Term SOFR <br> +1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250373 |
| BlueMountain CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 10/25/30, (3-mo. CME Term SOFR <br> +1.19%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp; 85838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 11/15/30, (3-mo. CME Term SOFR <br> +1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp; 88941 |
| &nbsp;&nbsp;&nbsp; BRAVO Residential Funding Trust, 5.55%, <br> 09/25/54<sup>(a)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp; 122708 |
| &nbsp;&nbsp;&nbsp; Bridge Street CLO VI Ltd., 1.00%, <br> 01/15/39, (3-mo. CME Term SOFR <br> +1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 248128 |
| &nbsp;&nbsp;&nbsp; Buckhorn Park CLO Ltd., 5.48%, <br> 07/18/34, (3-mo. CME Term SOFR <br> +1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 249977 |
| &nbsp;&nbsp;&nbsp; BXMT Ltd., 5.67%, 10/18/42, (1-mo. CME Term <br> SOFR +1.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 273 | &nbsp;&nbsp; 271795 |
| CIFC Funding Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.34%, 07/16/37, (3-mo. CME Term SOFR <br> +1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/15/40, (3-mo. CME Term SOFR <br> +1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250523 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 10/24/37, (3-mo. CME Term SOFR <br> +1.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250786 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.78%, 10/18/38, (3-mo. CME Term SOFR <br> +2.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250098 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.07%, 10/20/38, (3-mo. CME Term SOFR <br> +1.21%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250279 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.45%, 10/15/38, (3-mo. CME Term SOFR <br> +1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp; CIT Mortgage Loan Trust, 5.86%, <br> 10/25/37, (1-mo. CME Term SOFR <br> +1.86%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 425 | &nbsp;&nbsp; 425812 |
| &nbsp;&nbsp;&nbsp; Citigroup Mortgage Loan Trust Inc., 7.86%, <br> 07/25/37, (1-mo. CME Term SOFR <br> +3.86%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp; 124338 |
| &nbsp;&nbsp;&nbsp; Clover CLO LLC, 4.93%, 01/25/35, (3-mo. CME <br> Term SOFR +1.07%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 249875 |
| College Avenue Student Loans LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.33%, 05/25/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp; 70175 |
| &nbsp;&nbsp;&nbsp; 2.32%, 07/26/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp; 158432 |
| &nbsp;&nbsp;&nbsp; Compass Datacenters Issuer II LLC, 4.93%, <br> 11/25/50<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 80 | &nbsp;&nbsp; 80000 |
| &nbsp;&nbsp;&nbsp; Compass Datacenters Issuer III LLC, 5.29%, <br> 07/25/50<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 124 | &nbsp;&nbsp; 125271 |
| Creeksource Dunes Creek CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.31%, 01/15/38, (3-mo. CME Term SOFR <br> +1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250717 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 01/15/38, (3-mo. CME Term SOFR <br> +1.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250661 |
| CWABS Asset-Backed Certificates Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.30%, 12/25/35<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp; 48551 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.53%, 04/25/46, (1-mo. CME Term SOFR <br> +0.53%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 283 | &nbsp;&nbsp; 232228 |
| DB Master Finance LLC, 4.89%, 08/20/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 108 | &nbsp;&nbsp; 108274 |
| &nbsp;&nbsp;&nbsp; Diameter Capital CLO 10 Ltd., 5.19%, <br> 04/20/38, (3-mo. CME Term SOFR <br> +1.31%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 500907 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; Diameter Capital CLO 8 Ltd., 5.28%, <br> 10/20/37, (3-mo. CME Term SOFR <br> +1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; $350 | &nbsp;&nbsp; $350701 |
| &nbsp;&nbsp;&nbsp; Dwight Issuer LLC, 5.69%, 06/18/42, (1-mo. <br> CME Term SOFR +1.66%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 99834 |
| &nbsp;&nbsp;&nbsp; ELFI Graduate Loan Program LLC, 5.56%, <br> 08/25/49<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 147 | &nbsp;&nbsp; 149642 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO 24 Ltd., 5.20%, 01/17/38, (3-mo. <br> CME Term SOFR +1.32%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp; 258555 |
| &nbsp;&nbsp;&nbsp; Elmwood CLO 39 Ltd., 5.02%, 04/17/38, (3-mo. <br> CME Term SOFR +1.14%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 249857 |
| &nbsp;&nbsp;&nbsp; First Franklin Mortgage Loan Trust, 4.71%, <br> 01/25/36, (1-mo. CME Term SOFR <br> +0.71%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 329 | &nbsp;&nbsp; 301927 |
| &nbsp;&nbsp;&nbsp; First NLC Trust, 4.29%, 08/25/37, (1-mo. CME <br> Term SOFR +0.29%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp; 21012 |
| FirstKey Homes Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 07/17/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 184 | &nbsp;&nbsp; 180372 |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/19/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 170 | &nbsp;&nbsp; 167518 |
| FNA 8 LLC, 5.62%, 03/15/45<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp; 81998 |
| Foundation Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.93%, 03/15/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp; 88435 |
| &nbsp;&nbsp;&nbsp; 4.95%, 04/15/50<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp; 125977 |
| &nbsp;&nbsp;&nbsp; FS Rialto Issuer LLC, 5.66%, 10/19/39, (1-mo. <br> CME Term SOFR +1.63%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 100282 |
| &nbsp;&nbsp;&nbsp; Generate CLO 20 Ltd., 5.56%, 01/25/38, (3-mo. <br> CME Term SOFR +1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250169 |
| &nbsp;&nbsp;&nbsp; Goldentree Loan Management U.S. Clo 26 Ltd., <br> 5.92%, 07/20/38, (3-mo. CME Term SOFR <br> +1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250497 |
| &nbsp;&nbsp;&nbsp; Goldman Home Improvement Trust Issuer <br> Trust, 4.50%, 06/25/52<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp; 15796 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners Clo 44M Ltd., 5.90%, <br> 10/21/38, (3-mo. CME Term SOFR <br> +1.57%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 251083 |
| &nbsp;&nbsp;&nbsp; Golub Capital Partners CLO 77 B Ltd., 5.11%, <br> 01/25/38, (3-mo. CME Term SOFR + <br> 1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250449 |
| &nbsp;&nbsp;&nbsp; Golub Capital Private Credit Fund CLO 2,<br> 5.62%, 10/18/39, (3-mo. CME Term SOFR <br> +1.47%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250439 |
| GoodLeap Home Improvement Solutions Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.35%, 10/20/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 88 | &nbsp;&nbsp; 88886 |
| &nbsp;&nbsp;&nbsp; 5.38%, 02/20/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp; 86455 |
| &nbsp;&nbsp;&nbsp; 5.32%, 06/20/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp; 102139 |
| &nbsp;&nbsp;&nbsp; 5.98%, 06/20/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp; 173125 |
| GreenSky Home Improvement Issuer Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.26%, 10/27/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 183 | &nbsp;&nbsp; 184468 |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/27/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp; 75655 |
| GreenSky Home Improvement Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.67%, 06/25/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp; 58649 |
| &nbsp;&nbsp;&nbsp; 5.87%, 06/25/59<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp; 156100 |
| &nbsp;&nbsp;&nbsp; GSAMP Trust, 4.56%, 06/25/36, (1-mo. CME <br> Term SOFR +0.56%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp; 43814 |
| &nbsp;&nbsp;&nbsp; GT Loan Financing I Ltd., 5.08%, <br> 04/28/39, (3-mo. CME Term SOFR <br> +1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250297 |
| &nbsp;&nbsp;&nbsp; Huntington Bank Auto Credit-Linked Notes, <br> 5.38%, 09/20/33, (30-day Avg SOFR + <br> 1.20%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 224 | &nbsp;&nbsp; 223907 |
| &nbsp;&nbsp;&nbsp; JP Morgan Mortgage Acquisition Trust, 4.43%, <br> 11/25/36<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 207316 |
| Lendmark Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 04/20/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp; 125088 |
| &nbsp;&nbsp;&nbsp; 5.33%, 09/20/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 101371 |
| &nbsp;&nbsp;&nbsp; LoanCore, 5.42%, 08/17/42, (1-mo. CME Term <br> SOFR +1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 116 | &nbsp;&nbsp; 115864 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; LoanCore Issuer LLC, 5.51%, 08/18/42, (1-mo. <br> CME Term SOFR +1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; $140 | &nbsp;&nbsp; $140000 |
| &nbsp;&nbsp;&nbsp; Long Beach Mortgage Loan Trust, 4.47%, <br> 03/25/46, (1-mo. CME Term SOFR <br> +0.47%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 330 | &nbsp;&nbsp; 289887 |
| &nbsp;&nbsp;&nbsp; Madison Park Funding LXXI Ltd., 5.00%, <br> 04/23/38, (3-mo. CME Term SOFR <br> +1.14%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 249857 |
| &nbsp;&nbsp;&nbsp; Mariner Finance issuance Trust, 4.91%, <br> 11/20/38<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 101441 |
| Mariner Finance Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.98%, 05/20/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 195 | &nbsp;&nbsp; 196618 |
| &nbsp;&nbsp;&nbsp; 5.69%, 05/20/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 101057 |
| &nbsp;&nbsp;&nbsp; 4.59%, 11/22/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 102 | &nbsp;&nbsp; 102110 |
| MFA Trust, 6.33%, 09/25/54<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp; 86691 |
| &nbsp;&nbsp;&nbsp; MidOcean Credit CLO XII Ltd., 5.22%, <br> 07/18/38, (3-mo. CME Term SOFR <br> +1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250605 |
| &nbsp;&nbsp;&nbsp; Milford Park CLO Ltd., 5.04%, 01/20/38, (3-mo. <br> CME Term SOFR +1.16%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 249907 |
| Morgan Stanley ABS Capital I Inc. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.18%, 10/25/36, (1-mo. CME Term SOFR <br> +0.18%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 186 | &nbsp;&nbsp; 81615 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.34%, 11/25/36, (1-mo. CME Term SOFR <br> +0.34%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 689 | &nbsp;&nbsp; 406113 |
| Morgan Stanley Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.51%, 10/25/36<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp; 2306 |
| &nbsp;&nbsp;&nbsp; 6.36%, 01/25/47<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp; 27589 |
| Navient Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.16%, 11/15/68<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 91109 |
| &nbsp;&nbsp;&nbsp; 2.46%, 11/15/68<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp; 83306 |
| Navient Private Education Refi Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 02/15/68<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp; 41750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.75%, 11/15/68, (1-mo. CME Term SOFR <br> +1.71%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp; 101899 |
| &nbsp;&nbsp;&nbsp; 5.66%, 10/15/72<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp; 69522 |
| &nbsp;&nbsp;&nbsp; 3.90%, 01/15/43<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp; 125390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-IA, Class A1B, 5.15%, <br> 04/15/69, (1-mo. CME Term SOFR + <br> 1.11%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 242 | &nbsp;&nbsp; 240828 |
| Navient Refinance Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.72%, 09/15/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 131 | &nbsp;&nbsp; 130969 |
| &nbsp;&nbsp;&nbsp; 4.80%, 10/15/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 99936 |
| Nelnet Student Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.18%, 04/20/62, (1-mo. CME Term SOFR <br> +1.14%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 381 | &nbsp;&nbsp; 379609 |
| &nbsp;&nbsp;&nbsp; 2.90%, 04/20/62<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 180114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.33%, 03/15/57, (30-day Avg SOFR + <br> 1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 249127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 05/17/55, (30-day Avg SOFR + <br> 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 243 | &nbsp;&nbsp; 243833 |
| &nbsp;&nbsp;&nbsp; 6.04%, 05/17/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 100128 |
| &nbsp;&nbsp;&nbsp; 4.98%, 05/17/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp; 115062 |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/17/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 100439 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.71%, 06/22/65, (30-day Avg SOFR + <br> 1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp; 129727 |
| &nbsp;&nbsp;&nbsp; 5.82%, 06/22/65<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp; 127529 |
| &nbsp;&nbsp;&nbsp; Neuberger Berman Loan Advisers CLO 36R <br> Ltd., 5.55%, 07/20/39, (3-mo. CME Term <br> SOFR +1.27%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250389 |
| &nbsp;&nbsp;&nbsp; New Mountain 3 Ltd., 5.83%, 10/20/38, (3-mo. <br> CME Term SOFR +1.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250999 |
| NYMT Trust, 7.38%, 05/25/64<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp; 124662 |
| OCP CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.21%, 11/26/37, (3-mo. CME Term SOFR <br> +1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 650 | &nbsp;&nbsp; 651592 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.20%, 01/21/38, (3-mo. CME Term SOFR <br> +1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; $250 | &nbsp;&nbsp; $250600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.59%, 10/16/37, (3-mo. CME Term SOFR <br> +1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250536 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 6 Ltd., 5.21%, <br> 10/20/37, (3-mo. CME Term SOFR <br> +1.33%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250660 |
| &nbsp;&nbsp;&nbsp; OHA Credit Funding 7 Ltd., 5.16%, <br> 07/19/38, (3-mo. CME Term SOFR <br> +1.28%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250401 |
| &nbsp;&nbsp;&nbsp; OHA Loan Funding Ltd., 5.34%, <br> 07/20/37, (3-mo. CME Term SOFR <br> +1.46%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250869 |
| &nbsp;&nbsp;&nbsp; Onemain Financial Issuance Trust, 6.03%, <br> 05/14/41<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp; 156149 |
| OneMain Financial Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.66%, 10/14/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp; 121313 |
| &nbsp;&nbsp;&nbsp; 6.17%, 09/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 103187 |
| &nbsp;&nbsp;&nbsp; 5.79%, 05/14/41<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 105129 |
| &nbsp;&nbsp;&nbsp; Option One Mortgage Loan Trust, 5.86%, <br> 01/25/37<sup>(c)</sup><br>| &nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp; 30942 |
| &nbsp;&nbsp;&nbsp; Orchard Park CLO Ltd., 5.24%, <br> 10/20/37, (3-mo. CME Term SOFR <br> +1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250627 |
| &nbsp;&nbsp;&nbsp; Owl Rock CLO VII LLC, 5.28%, <br> 04/20/38, (3-mo. CME Term SOFR <br> +1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 248750 |
| &nbsp;&nbsp;&nbsp; Palmer Square CLO Ltd., 5.22%, <br> 07/15/38, (3-mo. CME Term SOFR <br> +1.32%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250575 |
| &nbsp;&nbsp;&nbsp; Palmer Square Loan Funding Ltd., 5.00%, <br> 04/15/31, (3-mo. CME Term SOFR <br> +1.10%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp; 2411 |
| Park Blue CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.08%, 04/25/38, (3-mo. CME Term SOFR <br> +1.22%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.43%, 10/20/38, (3-mo. CME Term SOFR <br> +1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250503 |
| &nbsp;&nbsp;&nbsp; Point Broadband Funding LLC, 5.73%, <br> 07/20/55<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 153 | &nbsp;&nbsp; 153343 |
| &nbsp;&nbsp;&nbsp; Post CLO Ltd., 5.54%, 10/20/38, (3-mo. CME <br> Term SOFR +1.70%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250000 |
| QTS Issuer ABS II LLC, 5.04%, 10/05/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 106 | &nbsp;&nbsp; 105931 |
| &nbsp;&nbsp;&nbsp; Quest Trust, 7.33%, 06/25/34, (1-mo. CME <br> Term SOFR +3.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp; 235957 |
| &nbsp;&nbsp;&nbsp; Rad CLO 15 Ltd., 5.24%, 07/20/40, (3-mo. <br> CME Term SOFR +1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250579 |
| &nbsp;&nbsp;&nbsp; RAMP Series Trust, 4.67%, 02/25/37, (1-mo. <br> CME Term SOFR +0.67%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp; 25537 |
| RCKT Mortgage Trust, 8.01%, 04/25/44<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp; 141665 |
| &nbsp;&nbsp;&nbsp; Regatta 35 Funding Ltd., 5.57%, <br> 10/15/38, (3-mo. CME Term SOFR <br> +1.29%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250367 |
| &nbsp;&nbsp;&nbsp; Regatta IX Funding Ltd., 5.88%, <br> 04/17/37, (3-mo. CME Term SOFR + <br> 2.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250701 |
| &nbsp;&nbsp;&nbsp; Regatta XVIII Funding Ltd., 5.06%, <br> 04/15/38, (3-mo. CME Term SOFR <br> +1.16%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 249919 |
| Regional Management Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.90%, 08/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 96373 |
| &nbsp;&nbsp;&nbsp; 5.53%, 04/17/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 101004 |
| &nbsp;&nbsp;&nbsp; 4.59%, 11/16/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 147 | &nbsp;&nbsp; 146621 |
| Republic Finance Issuance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.91%, 08/20/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp; 116200 |
| &nbsp;&nbsp;&nbsp; 5.42%, 11/20/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp; 115962 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp; 4.59%, 11/20/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $123 | &nbsp;&nbsp; $122483 |
| &nbsp;&nbsp;&nbsp; Retained Vantage Data Centers Issuer LLC, <br> 5.09%, 08/15/50<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 96 | &nbsp;&nbsp; 96403 |
| Rockford Tower CLO Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 05/20/31, (3-mo. CME Term SOFR <br> +1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp; 76848 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.85%, 08/20/32, (3-mo. CME Term SOFR <br> +1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 249542 |
| &nbsp;&nbsp;&nbsp; RR 32 Ltd., 5.26%, 10/15/39, (3-mo. CME Term <br> SOFR +1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250619 |
| &nbsp;&nbsp;&nbsp; Sagard-Halseypoint Clo 10 Ltd., 5.23%, <br> 10/20/38, (3-mo. CME Term SOFR <br> +1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250228 |
| &nbsp;&nbsp;&nbsp; Sagard-Halseypoint CLO 8 Ltd., 5.23%, <br> 01/30/38, (3-mo. CME Term SOFR <br> +1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250720 |
| &nbsp;&nbsp;&nbsp; Sagard-Halseypoint Clo 9 Ltd., 5.78%, <br> 04/20/38, (3-mo. CME Term SOFR <br> +1.90%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 400 | &nbsp;&nbsp; 401381 |
| &nbsp;&nbsp;&nbsp; Sandstone Peak II Ltd., 5.29%, <br> 07/20/38, (3-mo. CME Term SOFR <br> +1.41%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250700 |
| Saxon Asset Securities Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.40%, 01/25/47, (1-mo. CME Term SOFR <br> +0.4%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 212 | &nbsp;&nbsp; 220639 |
| &nbsp;&nbsp;&nbsp; 2.07%, 08/25/35<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; 167 | &nbsp;&nbsp; 129712 |
| Sesac Finance LLC, 5.50%, 07/25/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 91 | &nbsp;&nbsp; 90760 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO 13 Ltd., 1.00%, <br> 10/15/38, (3-mo. CME Term SOFR <br> +1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250000 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO 5 Ltd., 5.28%, <br> 10/20/37, (3-mo. CME Term SOFR <br> +1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250500 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO 7 Ltd., 5.26%, <br> 01/15/38, (3-mo. CME Term SOFR <br> +1.36%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250706 |
| &nbsp;&nbsp;&nbsp; Silver Point CLO 8 Ltd., 5.11%, <br> 04/15/38, (3-mo. CME Term SOFR <br> +1.21%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250312 |
| &nbsp;&nbsp;&nbsp; SLM Private Education Loan Trust, 8.90%, <br> 10/15/41, (1-mo. CME Term SOFR <br> +4.86%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp; 55852 |
| SMB Private Education Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.31%, 01/15/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 140 | &nbsp;&nbsp; 136796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.03%, 10/16/56, (30-day Avg SOFR + <br> 1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp; 117507 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.90%, 10/15/35, (1-mo. CME Term SOFR <br> +0.86%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp; 35094 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/15/36, (1-mo. CME Term SOFR <br> +0.91%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp; 46362 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.75%, 03/17/53, (1-mo. CME Term SOFR <br> +0.71%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 92 | &nbsp;&nbsp; 91477 |
| &nbsp;&nbsp;&nbsp; 1.29%, 07/15/53<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 114 | &nbsp;&nbsp; 108275 |
| &nbsp;&nbsp;&nbsp; SoFi Consumer Loan Program Trust, 4.80%, <br> 02/27/34<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 138 | &nbsp;&nbsp; 138094 |
| Sofi Professional Loan Program LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.09%, 08/17/48<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 69 | &nbsp;&nbsp; 67624 |
| &nbsp;&nbsp;&nbsp; 4.11%, 06/15/48<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp; 125117 |
| &nbsp;&nbsp;&nbsp; 3.05%, 11/16/48<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 227 | &nbsp;&nbsp; 204840 |
| SoFi Professional Loan Program LLC |  |  |
| &nbsp;&nbsp;&nbsp; 2.37%, 11/16/48<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 65 | &nbsp;&nbsp; 62275 |
| &nbsp;&nbsp;&nbsp; 1.95%, 02/15/46<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp; 70327 |
| Soundview Home Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.13%, 11/25/35, (1-mo. CME Term SOFR <br> +1.13%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 46 | &nbsp;&nbsp; 38668 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.63%, 01/25/37, (1-mo. CME Term SOFR <br> +0.64%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; $149 | &nbsp;&nbsp; $150696 |
| &nbsp;&nbsp;&nbsp; STAR Trust, 6.48%, 02/17/42, (1-mo. CME <br> Term SOFR +2.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp; 350221 |
| &nbsp;&nbsp;&nbsp; Stream Innovations Issuer Trust, 5.05%, <br> 09/15/45<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 100 | &nbsp;&nbsp; 100387 |
| &nbsp;&nbsp;&nbsp; Structured Asset Securities Corp. Mortgage <br> Loan Trust, 4.43%, 01/25/37, (1-mo. CME <br> Term SOFR +0.43%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp; 30985 |
| Subway Funding LLC, 6.27%, 07/30/54<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 30362 |
| &nbsp;&nbsp;&nbsp; Sycamore Tree CLO Ltd., 5.27%, <br> 01/20/38, (3-mo. CME Term SOFR <br> +1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 310 | &nbsp;&nbsp; 310899 |
| &nbsp;&nbsp;&nbsp; Symphony CLO XXVI Ltd., 5.23%, <br> 04/20/33, (3-mo. CME Term SOFR <br> +1.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 148 | &nbsp;&nbsp; 148117 |
| Taco Bell Funding LLC, 4.82%, 08/25/55<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp; 129351 |
| &nbsp;&nbsp;&nbsp; Terwin Mortgage Trust, 5.13%, 06/25/36, (1-mo. <br> CME Term SOFR +1.13%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 22987 |
| &nbsp;&nbsp;&nbsp; Trestles CLO Ltd., 5.32%, 07/25/37, (3-mo. <br> CME Term SOFR +1.46%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 250696 |
| &nbsp;&nbsp;&nbsp; Upgrade Master Pass-Thru Trust Series, <br> 4.55%, 11/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 101 | &nbsp;&nbsp; 100955 |
| UPX HIL Issuer Trust, 5.16%, 01/25/47<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 127 | &nbsp;&nbsp; 127517 |
| &nbsp;&nbsp;&nbsp; Voya CLO Ltd., 5.09%, 04/25/31, (3-mo. CME <br> Term SOFR +1.23%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 76 | &nbsp;&nbsp; 76221 |
| &nbsp;&nbsp;&nbsp; Washington Mutural Asset-Backed Certificates <br> WMABS Series Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.62%, 11/25/36, (1-mo. CME Term SOFR <br> +0.23%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp; 3841 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.62%, 11/25/36, (1-mo. CME Term SOFR <br> +0.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp; 34262 |
| **Total Asset-Backed Securities — 12.5%** <br>**(Cost: $35,177,531)** | **Total Asset-Backed Securities — 12.5%** <br>**(Cost: $35,177,531)** | &nbsp;&nbsp; 35526068 |
| **Collateralized Mortgage Obligations** | **Collateralized Mortgage Obligations** | **Collateralized Mortgage Obligations** |
| **Asset-Backed Securities — 0.0%** | **Asset-Backed Securities — 0.0%** | **Asset-Backed Securities — 0.0%** |
| FIGRE Trust, 5.75%, 07/25/53<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD108 | &nbsp;&nbsp; 109477 |
| **Mortgage Securities — 0.2%** | **Mortgage Securities — 0.2%** | **Mortgage Securities — 0.2%** |
| &nbsp;&nbsp;&nbsp; Cross 2025-CES1 Mortgage Trust, 5.00%, <br> 11/25/70<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD149 | &nbsp;&nbsp; 149090 |
| &nbsp;&nbsp;&nbsp; PENN Commercial Mortgage Trust 2025-P11, <br> 5.34%, 08/10/42<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 15249 |
| PRPM 2025-NQM3 Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.61%, 05/25/70<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD108 | &nbsp;&nbsp; 108336 |
| &nbsp;&nbsp;&nbsp; 6.94%, 05/25/70<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD150 | &nbsp;&nbsp; 150094 |
|  |  | &nbsp;&nbsp; 422769 |
| **Mortgage-Backed Securities — 14.9%** | **Mortgage-Backed Securities — 14.9%** | **Mortgage-Backed Securities — 14.9%** |
| 1301 Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.06%, 08/11/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20295 |
| &nbsp;&nbsp;&nbsp; 7.24%, 08/11/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD38 | &nbsp;&nbsp; 38291 |
| &nbsp;&nbsp;&nbsp; 8.10%, 08/11/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD421 | &nbsp;&nbsp; 425223 |
| 1345T |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.63%, 06/15/42, (1-mo. CME Term SOFR <br> +1.60%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD287 | &nbsp;&nbsp; 287538 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.53%, 06/15/42, (1-mo. CME Term SOFR <br> +4.5%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 40313 |
| 2023-MIC Trust (The), 8.44%, 12/05/38<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10814 |
| 245 Park Avenue Trust, 3.66%, 06/05/37<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD145 | &nbsp;&nbsp; 137559 |
| A&D Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.70%, 11/25/69<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD86 | &nbsp;&nbsp; 86454 |
| &nbsp;&nbsp;&nbsp; 6.52%, 11/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100834 |
| ACRA Trust, 5.61%, 10/25/64<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD125 | &nbsp;&nbsp; 125651 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; ALA Trust, 7.12%, 06/15/40, (1-mo. CME Term <br> SOFR +3.09%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp; $37139 |
| Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.39%, 04/25/47, (1-mo. CME Term SOFR <br> +0.39%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD130 | &nbsp;&nbsp; 121968 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.57%, 11/25/36, (1-mo. CME Term SOFR <br> +0.57%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD99 | &nbsp;&nbsp; 90866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.61%, 05/20/46, (1-mo. CME Term SOFR <br> +0.57%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD198 | &nbsp;&nbsp; 180234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.61%, 07/25/46, (1-mo. CME Term SOFR <br> +0.61%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD179 | &nbsp;&nbsp; 165433 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.62%, 11/25/35, (1-mo. CME Term SOFR <br> +0.46%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 11309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.80%, 11/20/35, (1-mo. CME Term SOFR <br> +0.77%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD2 | &nbsp;&nbsp; 2411 |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/25/35 | &nbsp;&nbsp;&nbsp; USD8 | &nbsp;&nbsp; 4603 |
| &nbsp;&nbsp;&nbsp; 5.75%, 05/25/36 | &nbsp;&nbsp;&nbsp; USD91 | &nbsp;&nbsp; 34253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.13%, 07/25/35, (1-mo. CME Term SOFR <br> +2.14%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 38276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.73%, 02/25/35, (1-mo. CME Term SOFR <br> +2.74%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD292 | &nbsp;&nbsp; 279920 |
| &nbsp;&nbsp;&nbsp; American Home Mortgage Investment Trust, <br> 5.87%, 05/25/36, (1-mo. CME Term SOFR <br> +1.74%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD483 | &nbsp;&nbsp; 39290 |
| Angel Oak Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 09/26/67<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD76 | &nbsp;&nbsp; 75464 |
| &nbsp;&nbsp;&nbsp; 5.21%, 08/25/68<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD160 | &nbsp;&nbsp; 159693 |
| &nbsp;&nbsp;&nbsp; 5.35%, 10/25/69<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; 42217 |
| &nbsp;&nbsp;&nbsp; 5.41%, 07/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD105 | &nbsp;&nbsp; 105428 |
| &nbsp;&nbsp;&nbsp; 5.64%, 02/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD179 | &nbsp;&nbsp; 180231 |
| &nbsp;&nbsp;&nbsp; 5.69%, 01/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD321 | &nbsp;&nbsp; 323962 |
| &nbsp;&nbsp;&nbsp; Arbor Multifamily Mortgage Securities Trust, <br> 3.28%, 02/15/55<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD170 | &nbsp;&nbsp; 159276 |
| &nbsp;&nbsp;&nbsp; ARES Commercial Mortgage Trust, 5.72%, <br> 07/15/41, (1-mo. CME Term SOFR <br> +1.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD293 | &nbsp;&nbsp; 293549 |
| &nbsp;&nbsp;&nbsp; ARES1 2024-IND2, 5.48%, 10/15/34, (1-mo. <br> CME Term SOFR +1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD80 | &nbsp;&nbsp; 80050 |
| Atrium Hotel Portfolio Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.41%, 11/10/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD300 | &nbsp;&nbsp; 305462 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.68%, 08/15/42, (1-mo. CME Term SOFR <br> +1.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD73 | &nbsp;&nbsp; 73157 |
| &nbsp;&nbsp;&nbsp; 9.21%, 11/10/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.53%, 08/15/42, (1-mo. CME Term SOFR <br> +5.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD78 | &nbsp;&nbsp; 78029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.78%, 08/15/42, (1-mo. CME Term SOFR <br> +6.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD32 | &nbsp;&nbsp; 32011 |
| BAHA Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.97%, 12/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD210 | &nbsp;&nbsp; 217209 |
| &nbsp;&nbsp;&nbsp; 6.84%, 12/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10423 |
| &nbsp;&nbsp;&nbsp; 7.52%, 12/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD114 | &nbsp;&nbsp; 118816 |
| BAMLL Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.88%, 02/15/42, (1-mo. CME Term SOFR <br> +1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD86 | &nbsp;&nbsp; 86108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.38%, 08/15/39, (1-mo. CME Term SOFR <br> +2.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.28%, 02/15/42, (1-mo. CME Term SOFR <br> +5.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD51 | &nbsp;&nbsp; 51005 |
| Banc of America Alternative Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/25/33 | &nbsp;&nbsp;&nbsp; USD86 | &nbsp;&nbsp; 86975 |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/25/36<sup>(c)</sup> | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 1806 |
| &nbsp;&nbsp;&nbsp; Banc of America Funding Corp., 2.26%, <br> 03/27/36<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD83 | &nbsp;&nbsp; 71117 |
| &nbsp;&nbsp;&nbsp; Banc of America Funding Trust, 5.75%, <br> 01/25/37<br>| &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 7908 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| Bank 2021, 2.90%, 06/15/64<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; $11033 |
| &nbsp;&nbsp;&nbsp; Bank of America Merrill Lynch Commercial <br> Mortgage Trust, Series 2017-BNK33.88%, <br> 02/15/50<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD90 | &nbsp;&nbsp; 87993 |
| Barclays Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.66%, 01/25/65<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD227 | &nbsp;&nbsp; 228150 |
| &nbsp;&nbsp;&nbsp; 7.61%, 05/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD300 | &nbsp;&nbsp; 304988 |
| &nbsp;&nbsp;&nbsp; BAY Mortgage Trust, 5.83%, 05/15/35, (1-mo. <br> CME Term SOFR +1.80%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD161 | &nbsp;&nbsp; 161280 |
| BBCMS Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/15/58<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 14299 |
| &nbsp;&nbsp;&nbsp; 5.59%, 07/15/58<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD243 | &nbsp;&nbsp; 256588 |
| &nbsp;&nbsp;&nbsp; 5.84%, 07/15/58<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 28408 |
| &nbsp;&nbsp;&nbsp; 6.12%, 07/15/58<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20796 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2018-TALL, Class A, 4.95%, <br> 03/15/37, (1-mo. CME Term SOFR <br> +0.92%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 94250 |
| &nbsp;&nbsp;&nbsp; BCAP LLC Trust, 4.15%, 05/26/46, (12-mo. <br> MTA + 0.94%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 82313 |
| Bear Stearns Asset Backed Securities I Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.46%, 03/25/36, (1-mo. CME Term SOFR <br> +0.46%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 3452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.67%, 04/25/36, (1-mo. CME Term SOFR <br> +0.67%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD117 | &nbsp;&nbsp; 115868 |
| &nbsp;&nbsp;&nbsp; Bear Stearns Mortgage Funding Trust, 4.45%, <br> 03/25/37, (1-mo. CME Term SOFR <br> +0.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD74 | &nbsp;&nbsp; 68462 |
| Benchmark Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.18%, 10/15/58 | &nbsp;&nbsp;&nbsp; USD204 | &nbsp;&nbsp; 209969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2020-B21, Class A5, 1.98%, <br> 12/17/53<br>| &nbsp;&nbsp;&nbsp; USD56 | &nbsp;&nbsp; 49313 |
| BFLD Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.67%, 10/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.46%, 11/15/42, (1-mo. CME Term SOFR <br> +1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD249 | &nbsp;&nbsp; 249311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 11/15/41, (1-mo. CME Term SOFR <br> +1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20013 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.67%, 11/15/41, (1-mo. CME Term SOFR <br> +3.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 13028 |
| &nbsp;&nbsp;&nbsp; BFLD Mortgage Trust, 5.92%, 07/15/41, (1-mo. <br> CME Term SOFR +1.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 16055 |
| &nbsp;&nbsp;&nbsp; BFLD Trust, 5.58%, 06/15/42, (1-mo. CME <br> Term SOFR +1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD218 | &nbsp;&nbsp; 218719 |
| &nbsp;&nbsp;&nbsp; BHMS Commercial Mortgage Trust, 5.88%, <br> 08/15/42, (1-mo. CME Term SOFR <br> +1.85%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD192 | &nbsp;&nbsp; 192480 |
| BMP Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.42%, 06/15/41, (1-mo. CME Term SOFR <br> +2.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD285 | &nbsp;&nbsp; 285534 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.42%, 06/15/41, (1-mo. CME Term SOFR <br> +3.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 10986 |
| &nbsp;&nbsp;&nbsp; BPR Commercial Mortgage Trust, 5.11%, <br> 11/05/42<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD110 | &nbsp;&nbsp; 110226 |
| BPR Mortgage Trust, 7.50%, 12/05/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 104197 |
| BRAVO Residential Funding Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.46%, 07/25/65<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD193 | &nbsp;&nbsp; 194694 |
| &nbsp;&nbsp;&nbsp; 5.68%, 11/25/64<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD132 | &nbsp;&nbsp; 132854 |
| &nbsp;&nbsp;&nbsp; 7.98%, 09/25/63<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100813 |
| &nbsp;&nbsp;&nbsp; BRES Commercial Mortgage Trust, 5.49%, <br> 11/15/42, (1-mo. CME Term SOFR <br> +1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD137 | &nbsp;&nbsp; 136652 |
| &nbsp;&nbsp;&nbsp; BSTN Commercial Mortgage Trust, 6.24%, <br> 06/15/44<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 103253 |
| BWAY Trust, 6.31%, 05/05/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18654 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| BX Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.84%, 03/09/44<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; $92567 |
| &nbsp;&nbsp;&nbsp; 4.44%, 11/15/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; CAD8 | &nbsp;&nbsp; 5485 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.41%, 08/15/42, (1-mo. CME Term SOFR <br> +1.38%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD103 | &nbsp;&nbsp; 102600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.48%, 04/15/40, (1-mo. CME Term SOFR <br> +1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD190 | &nbsp;&nbsp; 189683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 10/15/41, (1-mo. CME Term SOFR <br> +1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD96 | &nbsp;&nbsp; 96038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 05/15/34, (1-mo. CME Term SOFR <br> +1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD197 | &nbsp;&nbsp; 197525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 12/15/39, (1-mo. CME Term SOFR <br> +1.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD226 | &nbsp;&nbsp; 226633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 05/15/41, (1-mo. CME Term SOFR <br> +1.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD260 | &nbsp;&nbsp; 260225 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.72%, 08/15/39, (1-mo. CME Term SOFR <br> +1.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD94 | &nbsp;&nbsp; 93737 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.79%, 12/09/40, (1-mo. CME Term SOFR <br> +1.76%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD107 | &nbsp;&nbsp; 107502 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.72%, 03/15/41, (1-mo. CME Term SOFR <br> +2.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD72 | &nbsp;&nbsp; 71995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.91%, 10/15/41, (1-mo. CME Term SOFR <br> +2.88%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD51 | &nbsp;&nbsp; 51128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.17%, 06/15/27, (1-mo. CME Term SOFR <br> +3.14%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100750 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.96%, 10/15/41, (1-mo. CME Term SOFR <br> +3.93%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD176 | &nbsp;&nbsp; 176092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.22%, 02/15/39, (1-mo. CME Term SOFR <br> +4.19%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD93 | &nbsp;&nbsp; 93401 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.91%, 10/15/41, (1-mo. CME Term SOFR <br> +4.87%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD162 | &nbsp;&nbsp; 162307 |
| BX Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.95%, 02/15/36, (1-mo. CME Term SOFR <br> +0.91%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 199882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.05%, 10/15/36, (1-mo. CME Term SOFR <br> +1.01%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 27956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.48%, 03/15/42, (1-mo. CME Term SOFR <br> +1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD281 | &nbsp;&nbsp; 280912 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/27, (1-mo. CME Term SOFR <br> +1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD88 | &nbsp;&nbsp; 88055 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.52%, 06/15/41, (1-mo. CME Term SOFR <br> +1.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD249 | &nbsp;&nbsp; 249000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 06/15/40, (1-mo. CME Term SOFR <br> +1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD280 | &nbsp;&nbsp; 280161 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 06/15/37, (1-mo. CME Term SOFR <br> +1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD173 | &nbsp;&nbsp; 173184 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.12%, 03/15/41, (1-mo. CME Term SOFR <br> +2.09%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.17%, 06/15/41, (1-mo. CME Term SOFR <br> +2.14%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100092 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.67%, 06/15/37, (1-mo. CME Term SOFR <br> +2.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD304 | &nbsp;&nbsp; 304789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.72%, 05/15/38, (1-mo. CME Term SOFR <br> +2.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD141 | &nbsp;&nbsp; 141088 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.72%, 04/15/41, (1-mo. CME Term SOFR <br> +2.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD74 | &nbsp;&nbsp; 74511 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.92%, 06/15/41, (1-mo. CME Term SOFR <br> +2.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.97%, 03/15/30, (1-mo. CME Term SOFR <br> +2.94%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD96 | &nbsp;&nbsp; 95029 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.33%, 06/15/35, (1-mo. CME Term SOFR <br> +3.3%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD137 | &nbsp;&nbsp; 136905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.37%, 05/15/38, (1-mo. CME Term SOFR <br> +3.34%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100250 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.72%, 04/15/41, (1-mo. CME Term SOFR <br> +3.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD74 | &nbsp;&nbsp; $74041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.97%, 06/15/41, (1-mo. CME Term SOFR <br> +3.94%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 30036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.08%, 06/15/36, (1-mo. CME Term SOFR <br> +4.04%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 9955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.47%, 03/15/41, (1-mo. CME Term SOFR <br> +4.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 34126 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.42%, 03/15/41, (1-mo. CME Term SOFR <br> +5.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 16105 |
| CFK Trust, 2.79%, 03/15/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 93379 |
| CFMT LLC, 4.00%, 10/25/54<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD113 | &nbsp;&nbsp; 111167 |
| Chase Mortgage Finance Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.72%, 02/25/37<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99179 |
| &nbsp;&nbsp;&nbsp; 6.00%, 07/25/37 | &nbsp;&nbsp;&nbsp; USD121 | &nbsp;&nbsp; 52925 |
| CHL Mortgage Pass-Through Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/25/36 | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 3267 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/25/37 | &nbsp;&nbsp;&nbsp; USD798 | &nbsp;&nbsp; 284946 |
| CIM Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.66%, 10/25/69<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD123 | &nbsp;&nbsp; 124388 |
| &nbsp;&nbsp;&nbsp; 6.44%, 10/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD150 | &nbsp;&nbsp; 151482 |
| &nbsp;&nbsp;&nbsp; 6.79%, 12/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD115 | &nbsp;&nbsp; 116068 |
| &nbsp;&nbsp;&nbsp; 7.06%, 04/25/58<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100282 |
| CIP Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.50%, 10/15/37, (1-mo. CME Term SOFR <br> +1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD332 | &nbsp;&nbsp; 332311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.85%, 10/15/37, (1-mo. CME Term SOFR <br> +3.75%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD123 | &nbsp;&nbsp; 123154 |
| &nbsp;&nbsp;&nbsp; COAST Commercial Mortgage Trust, 6.62%, <br> 08/15/36, (1-mo. CME Term SOFR + <br> 2.59%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD210 | &nbsp;&nbsp; 209869 |
| COLT Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.73%, 11/26/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD85 | &nbsp;&nbsp; 77425 |
| &nbsp;&nbsp;&nbsp; 4.19%, 02/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 85176 |
| &nbsp;&nbsp;&nbsp; 5.47%, 06/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD101 | &nbsp;&nbsp; 101790 |
| &nbsp;&nbsp;&nbsp; 5.48%, 08/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD98 | &nbsp;&nbsp; 98687 |
| &nbsp;&nbsp;&nbsp; 7.10%, 08/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100776 |
| &nbsp;&nbsp;&nbsp; 7.81%, 09/25/68<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD193 | &nbsp;&nbsp; 194603 |
| &nbsp;&nbsp;&nbsp; 7.94%, 07/25/68<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD262 | &nbsp;&nbsp; 265361 |
| Commission Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.50%, 08/10/40<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24098 |
| &nbsp;&nbsp;&nbsp; 5.55%, 08/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 17078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 06/15/41, (1-mo. CME Term SOFR <br> +1.84%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD41 | &nbsp;&nbsp; 40846 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.62%, 06/15/41, (1-mo. CME Term SOFR <br> +2.59%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11027 |
| &nbsp;&nbsp;&nbsp; 8.20%, 08/10/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20027 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.52%, 06/15/41, (1-mo. CME Term SOFR <br> +4.49%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 13994 |
| &nbsp;&nbsp;&nbsp; 9.16%, 08/10/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 16020 |
| CONE Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.67%, 08/15/41, (1-mo. CME Term SOFR + <br> 1.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 29963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.92%, 08/15/41, (1-mo. CME Term SOFR <br> +3.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD45 | &nbsp;&nbsp; 44945 |
| &nbsp;&nbsp;&nbsp; Countrywide Alternative Loan Trust, 6.00%, <br> 05/25/36<br>| &nbsp;&nbsp;&nbsp; USD94 | &nbsp;&nbsp; 34697 |
| Cross Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.60%, 06/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD97 | &nbsp;&nbsp; 97337 |
| &nbsp;&nbsp;&nbsp; 5.74%, 02/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD618 | &nbsp;&nbsp; 623500 |
| &nbsp;&nbsp;&nbsp; 6.48%, 02/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD350 | &nbsp;&nbsp; 353565 |
| CSMC, 7.10%, 08/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD131 | &nbsp;&nbsp; 130496 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| CSMC Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.30%, 11/15/38, (1-mo. CME Term SOFR <br> +1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD80 | &nbsp;&nbsp; $79400 |
| &nbsp;&nbsp;&nbsp; 9.23%, 12/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD78 | &nbsp;&nbsp; 78289 |
| CSTL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.76%, 11/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 40117 |
| &nbsp;&nbsp;&nbsp; 5.63%, 11/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99505 |
| DBC Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.40%, 06/15/38, (1-mo. CME Term SOFR <br> +1.35%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD249 | &nbsp;&nbsp; 249311 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.10%, 06/15/38, (1-mo. CME Term SOFR + <br> 2.05%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100187 |
| &nbsp;&nbsp;&nbsp; DBGS, 5.92%, 08/15/34, (1-mo. CME Term <br> SOFR +1.88%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | &nbsp;&nbsp; 250000 |
| DC Trust, 5.73%, 04/13/40<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10122 |
| &nbsp;&nbsp;&nbsp; Deephaven Residential Mortgage Trust, 5.74%, <br> 07/25/69<sup>(a)(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD76 | &nbsp;&nbsp; 76918 |
| DK Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 03/15/34, (1-mo. CME Term SOFR <br> +1.50%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 08/15/37, (1-mo. CME Term SOFR + <br> 1.59%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD44 | &nbsp;&nbsp; 44041 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.92%, 08/15/37, (1-mo. CME Term SOFR <br> +2.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 15038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.03%, 03/15/34, (1-mo. CME Term SOFR + <br> 4.00%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 58183 |
| Durst Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.15%, 08/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD120 | &nbsp;&nbsp; 122286 |
| &nbsp;&nbsp;&nbsp; 6.79%, 08/10/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 102870 |
| EFMT |  |  |
| &nbsp;&nbsp;&nbsp; 5.03%, 11/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99998 |
| &nbsp;&nbsp;&nbsp; 5.44%, 07/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD379 | &nbsp;&nbsp; 379390 |
| &nbsp;&nbsp;&nbsp; 5.49%, 08/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD197 | &nbsp;&nbsp; 198269 |
| &nbsp;&nbsp;&nbsp; 5.63%, 03/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD165 | &nbsp;&nbsp; 166266 |
| &nbsp;&nbsp;&nbsp; 6.59%, 01/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD350 | &nbsp;&nbsp; 354705 |
| &nbsp;&nbsp;&nbsp; Ellington Financial Mortgage Trust, 5.71%, <br> 11/25/69<sup>(a)(c)</sup><br>| &nbsp;&nbsp;&nbsp; USD116 | &nbsp;&nbsp; 116579 |
| ELM Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.80%, 06/10/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11078 |
| &nbsp;&nbsp;&nbsp; 5.80%, 06/10/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11103 |
| &nbsp;&nbsp;&nbsp; 7.79%, 06/10/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD29 | &nbsp;&nbsp; 29194 |
| EQT Trust, 5.33%, 07/05/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD71 | &nbsp;&nbsp; 72628 |
| &nbsp;&nbsp;&nbsp; Extended Stay America Trust, 5.45%, 10/15/42, <br> (1-mo. CME Term SOFR + 1.30%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100187 |
| &nbsp;&nbsp;&nbsp; Fannie Mae REMICS, 5.78%, 05/25/55, (30-day <br> Avg SOFR + 1.60%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD270 | &nbsp;&nbsp; 273131 |
| Fashion Show Mall LLC, 5.10%, 10/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 19648 |
| Federal Home Loan Mortgage Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 11/25/54, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD799 | &nbsp;&nbsp; 804189 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 02/25/55, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD779 | &nbsp;&nbsp; 783370 |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp. Multiclass <br> Certificates, 4.30%, 11/25/32<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 13896 |
| Federal Home Loan Mortgage Corp. REMICS |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53%, 01/25/55, (30-day Avg SOFR + <br> 1.35%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD457 | &nbsp;&nbsp; 459787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 03/25/55, (30-day Avg SOFR + <br> 1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD1,095 | &nbsp;&nbsp; 1102229 |
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association <br> REMICS, 5.63%, 02/25/55, (30-day Avg <br> SOFR + 1.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD186 | &nbsp;&nbsp; 187771 |
| &nbsp;&nbsp;&nbsp; First Horizon Alternative Mortgage <br> Securities Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 01/25/37<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD111 | &nbsp;&nbsp; 86593 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; 4.93%, 02/25/36<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; $6580 |
| &nbsp;&nbsp;&nbsp; Fontainebleau Miami Beach Mortgage Trust, <br> 5.48%, 12/15/39, (1-mo. CME Term SOFR <br> +1.45%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD385 | &nbsp;&nbsp; 385477 |
| FREMF Mortgage Trust, 4.23%, 08/25/50<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD95 | &nbsp;&nbsp; 93227 |
| &nbsp;&nbsp;&nbsp; Gaea Mortgage Loan Trust, 6.75%, <br> 02/25/30<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD195 | &nbsp;&nbsp; 189737 |
| GCAT Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 06/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD97 | &nbsp;&nbsp; 97513 |
| &nbsp;&nbsp;&nbsp; 2.89%, 12/27/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD157 | &nbsp;&nbsp; 147964 |
| &nbsp;&nbsp;&nbsp; 3.92%, 02/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD180 | &nbsp;&nbsp; 139673 |
| &nbsp;&nbsp;&nbsp; 4.25%, 05/25/67<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD292 | &nbsp;&nbsp; 279762 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp; 2.25%, 04/16/65 | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 7694 |
| &nbsp;&nbsp;&nbsp; 3.25%, 09/16/63<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 4308 |
| &nbsp;&nbsp;&nbsp; 4.75%, 09/16/54 | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 19836 |
| &nbsp;&nbsp;&nbsp; 4.75%, 08/16/56 | &nbsp;&nbsp;&nbsp; USD57 | &nbsp;&nbsp; 56517 |
| &nbsp;&nbsp;&nbsp; 4.75%, 07/16/66 | &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 58856 |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/16/56 | &nbsp;&nbsp;&nbsp; USD61 | &nbsp;&nbsp; 61107 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/16/58 | &nbsp;&nbsp;&nbsp; USD144 | &nbsp;&nbsp; 144312 |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/16/65 | &nbsp;&nbsp;&nbsp; USD134 | &nbsp;&nbsp; 133611 |
| GS Mortgage Securities Corp. Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.12%, 03/15/28, (1-mo. CME Term SOFR <br> +2.09%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.68%, 11/25/41, (1-mo. CME Term SOFR + <br> 2.65%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD162 | &nbsp;&nbsp; 162407 |
| &nbsp;&nbsp;&nbsp; 7.43%, 09/10/38<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10030 |
| &nbsp;&nbsp;&nbsp; 7.47%, 08/10/41<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD43 | &nbsp;&nbsp; 42897 |
| &nbsp;&nbsp;&nbsp; GSMPS Mortgage Loan Trust, 4.51%, 06/25/34, <br> (1-mo. CME Term SOFR +0.51%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD291 | &nbsp;&nbsp; 262019 |
| &nbsp;&nbsp;&nbsp; GWT Trust, 5.72%, 05/15/41, (1-mo. CME Term <br> SOFR +1.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100187 |
| &nbsp;&nbsp;&nbsp; Harvest Commercial Capital Loan Trust, 6.16%, <br> 10/25/56<br>| &nbsp;&nbsp;&nbsp; USD437 | &nbsp;&nbsp; 448862 |
| HIH Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.87%, 10/15/41, (1-mo. CME Term SOFR <br> +1.84%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 9883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.87%, 10/15/41, (1-mo. CME Term SOFR <br> +2.84%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD98 | &nbsp;&nbsp; 98895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.67%, 10/15/41, (1-mo. CME Term SOFR <br> +3.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 9902 |
| &nbsp;&nbsp;&nbsp; HILT Commercial Mortgage Trust, 5.57%, <br> 05/15/37, (1-mo. CME Term SOFR <br> +1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100062 |
| &nbsp;&nbsp;&nbsp; HLTN Commercial Mortgage Trust, 5.67%, <br> 06/15/41, (1-mo. CME Term SOFR <br> +1.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD263 | &nbsp;&nbsp; 263411 |
| HOMES Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.43%, 02/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD91 | &nbsp;&nbsp; 91795 |
| &nbsp;&nbsp;&nbsp; 6.39%, 01/25/60<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 201879 |
| &nbsp;&nbsp;&nbsp; 6.52%, 01/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 101203 |
| &nbsp;&nbsp;&nbsp; Homeward Opportunities Fund I Trust, 5.45%, <br> 05/25/65<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD310 | &nbsp;&nbsp; 310066 |
| &nbsp;&nbsp;&nbsp; HONO Mortgage Trust, 5.30%, 10/15/36, <br> (1-mo. CME Term SOFR + 1.26%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD127 | &nbsp;&nbsp; 125861 |
| &nbsp;&nbsp;&nbsp; HTL Commercial Mortgage Trust, 8.20%, <br> 05/10/39<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 102351 |
| &nbsp;&nbsp;&nbsp; ILPT Commercial Mortgage Trust, 5.29%, <br> 07/13/42<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD224 | &nbsp;&nbsp; 228422 |
| &nbsp;&nbsp;&nbsp; Impac Secured Assets Trust, 4.45%, 11/25/36, <br> (1-mo. CME Term SOFR +0.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 23246 |
| &nbsp;&nbsp;&nbsp; IndyMac INDX Mortgage Loan Trust, 4.82%, <br> 01/25/36<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD131 | &nbsp;&nbsp; 129954 |
| &nbsp;&nbsp;&nbsp; INT Commercial Mortgage Trust, 4.88%, <br> 11/05/37<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99937 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; INV Mortgage Trust, 5.77%, 11/15/41, (1-mo. <br> CME Term SOFR + 1.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD168 | &nbsp;&nbsp; $166740 |
| &nbsp;&nbsp;&nbsp; J.P. Morgan Chase Commercial Mortgage <br> Securities Trust, 5.80%, 10/05/39<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD130 | &nbsp;&nbsp; 132276 |
| &nbsp;&nbsp;&nbsp; JP Morgan Alternative Loan Trust, 5.03%, <br> 03/25/36<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD208 | &nbsp;&nbsp; 155507 |
| &nbsp;&nbsp;&nbsp; JP Morgan Chase Commercial Mortgage <br> Securities Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp; 2.85%, 09/06/38<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD130 | &nbsp;&nbsp; 127907 |
| &nbsp;&nbsp;&nbsp; 5.17%, 11/09/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 50477 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.73%, 03/15/40, (1-mo. CME Term SOFR <br> +1.69%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD68 | &nbsp;&nbsp; 68387 |
| &nbsp;&nbsp;&nbsp; 6.48%, 11/09/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10006 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.85%, 04/15/38, (1-mo. CME Term SOFR <br> +2.81%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD90 | &nbsp;&nbsp; 90028 |
| &nbsp;&nbsp;&nbsp; 7.25%, 11/09/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 38983 |
| &nbsp;&nbsp;&nbsp; 8.22%, 11/09/39<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 33938 |
| JP Morgan Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 6.41%, 08/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD253 | &nbsp;&nbsp; 255741 |
| &nbsp;&nbsp;&nbsp; 7.25%, 12/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD83 | &nbsp;&nbsp; 84216 |
| &nbsp;&nbsp;&nbsp; JP Morgan Resecuritization Trust Series, 0.00% <br> 05/27/36<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD297 | &nbsp;&nbsp; 50305 |
| JW Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.65%, 06/15/39, (1-mo. CME Term SOFR <br> +1.62%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD113 | &nbsp;&nbsp; 113141 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.22%, 06/15/39, (1-mo. CME Term SOFR <br> +3.19%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD110 | &nbsp;&nbsp; 110727 |
| &nbsp;&nbsp;&nbsp; JW Trust, 5.63%, 11/15/39, (1-mo. CME Term <br> SOFR +1.59%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 200187 |
| KSL Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 12/15/39, (1-mo. CME Term SOFR <br> +1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD316 | &nbsp;&nbsp; 315348 |
| &nbsp;&nbsp;&nbsp; 6.25%, 06/15/42 | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 13984 |
| &nbsp;&nbsp;&nbsp; 8.45%, 06/05/42 | &nbsp;&nbsp;&nbsp; USD160 | &nbsp;&nbsp; 160565 |
| LBA Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.48%, 10/15/41, (1-mo. CME Term SOFR + <br> 1.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.62%, 06/15/39, (1-mo. CME Term SOFR <br> +1.59%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD170 | &nbsp;&nbsp; 170106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.67%, 10/15/41, (1-mo. CME Term SOFR <br> +2.64%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 20964 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.47%, 06/15/39, (1-mo. CME Term SOFR <br> +4.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 9985 |
| LEX Mortgage Trust, 4.87%, 10/13/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD289 | &nbsp;&nbsp; 290243 |
| &nbsp;&nbsp;&nbsp; MASTR Reperforming Loan Trust, 7.00%, <br> 08/25/34<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD228 | &nbsp;&nbsp; 158071 |
| MCR Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.92%, 06/12/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD71 | &nbsp;&nbsp; 681 |
| &nbsp;&nbsp;&nbsp; 5.92%, 06/12/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.14%, 02/15/37, (1-mo. CME Term SOFR <br> +3.11%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD81 | &nbsp;&nbsp; 80594 |
| &nbsp;&nbsp;&nbsp; 7.40%, 06/12/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 30385 |
| &nbsp;&nbsp;&nbsp; 8.73%, 06/12/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 16246 |
| MFA Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.26%, 08/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD164 | &nbsp;&nbsp; 164315 |
| &nbsp;&nbsp;&nbsp; 7.09%, 02/25/29<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD120 | &nbsp;&nbsp; 120656 |
| Morgan Stanley Capital I, 4.06%, 12/15/50<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD281 | &nbsp;&nbsp; 272514 |
| Morgan Stanley Capital I Trust |  |  |
| &nbsp;&nbsp;&nbsp; 3.90%, 09/24/57<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD86 | &nbsp;&nbsp; 84296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58%, 11/15/34, (1-mo. CME Term SOFR <br> +1.55%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 98188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.60%, 12/15/38, (1-mo. CME Term SOFR <br> +1.56%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 9300 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Resecuritization Trust, 3.91%, <br> 04/26/47, (1-mo. CME Term SOFR <br> +0.37%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; $77609 |
| &nbsp;&nbsp;&nbsp; Morgan Stanley Residential Mortgage <br> Loan Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.44%, 07/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD503 | &nbsp;&nbsp; 505627 |
| &nbsp;&nbsp;&nbsp; 5.74%, 11/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD88 | &nbsp;&nbsp; 88442 |
| &nbsp;&nbsp;&nbsp; 6.50%, 11/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 101051 |
| &nbsp;&nbsp;&nbsp; 6.98%, 07/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 198683 |
| &nbsp;&nbsp;&nbsp; MTN Commercial Mortgage Trust, 5.44%, <br> 03/15/39, (1-mo. CME Term SOFR <br> +1.40%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100062 |
| NCMF Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 06/10/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD70 | &nbsp;&nbsp; 70163 |
| &nbsp;&nbsp;&nbsp; 7.53%, 06/10/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD136 | &nbsp;&nbsp; 137935 |
| &nbsp;&nbsp;&nbsp; 8.44%, 06/10/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD125 | &nbsp;&nbsp; 127296 |
| New Residential Mortgage Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.35%, 07/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD96 | &nbsp;&nbsp; 96590 |
| &nbsp;&nbsp;&nbsp; 5.64%, 01/25/65<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD138 | &nbsp;&nbsp; 139201 |
| &nbsp;&nbsp;&nbsp; 7.04%, 07/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD105 | &nbsp;&nbsp; 104493 |
| &nbsp;&nbsp;&nbsp; 7.06%, 05/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD107 | &nbsp;&nbsp; 108424 |
| &nbsp;&nbsp;&nbsp; NRTH Commercial Mortgage Trust, 5.54%, <br> 10/15/40, (1-mo. CME Term SOFR + <br> 1.39%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100031 |
| NYC Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.67%, 11/05/38<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99910 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.74%, 10/15/40, (1-mo. CME Term SOFR + <br> 1.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD134 | &nbsp;&nbsp; 134000 |
| &nbsp;&nbsp;&nbsp; 7.39%, 07/13/42<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD53 | &nbsp;&nbsp; 53500 |
| &nbsp;&nbsp;&nbsp; NYCT Trust 2024-3ELV, 6.87%, 08/15/29, <br> (1-mo. CME Term SOFR +2.84%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD110 | &nbsp;&nbsp; 110203 |
| NYMT Loan Trust, 5.38%, 06/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD87 | &nbsp;&nbsp; 87287 |
| OBX Trust, 5.65%, 12/01/64<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD88 | &nbsp;&nbsp; 89163 |
| &nbsp;&nbsp;&nbsp; One New York Plaza Trust, 5.10%, 01/15/36, <br> (1-mo. CME Term SOFR +1.06%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 39000 |
| &nbsp;&nbsp;&nbsp; OPEN Trust, 7.12%, 11/15/40, (1-mo. CME <br> Term SOFR +3.09%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 6501 |
| &nbsp;&nbsp;&nbsp; PGA Trust, 5.92%, 06/15/39, (1-mo. CME Term <br> SOFR +1.89%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD107 | &nbsp;&nbsp; 107100 |
| PRKCM Trust, 4.10%, 04/25/57<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD105 | &nbsp;&nbsp; 105019 |
| PRM5 Trust, 5.62%, 03/10/33<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD69 | &nbsp;&nbsp; 68686 |
| PRPM Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.80%, 11/25/69<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD182 | &nbsp;&nbsp; 183316 |
| &nbsp;&nbsp;&nbsp; 6.65%, 11/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD172 | &nbsp;&nbsp; 174016 |
| Rain City Mortgage Trust, 6.53%, 09/25/29<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 101077 |
| &nbsp;&nbsp;&nbsp; RALI Series Trust, 4.47%, 12/25/36, (1-mo. <br> CME Term SOFR +0.47%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD189 | &nbsp;&nbsp; 169932 |
| &nbsp;&nbsp;&nbsp; Residential Mortgage Loan Trust, 6.04%, <br> 05/25/59<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99442 |
| RFMSI Series Trust, 5.73%, 10/25/37<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD53 | &nbsp;&nbsp; 32199 |
| RFMSI Trust, 5.44%, 11/25/36<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 5639 |
| SAIF Securitization Trust, 5.97%, 07/25/54<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD67 | &nbsp;&nbsp; 67100 |
| Saluda Grade Alternative Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 02/25/30<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD126 | &nbsp;&nbsp; 126626 |
| &nbsp;&nbsp;&nbsp; 7.76%, 04/25/30<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100927 |
| &nbsp;&nbsp;&nbsp; Santander Mortgage Asset Receivable Trust, <br> 7.24%, 05/25/65<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD210 | &nbsp;&nbsp; 211271 |
| &nbsp;&nbsp;&nbsp; SCG Commercial Mortgage Trust, 5.28%, <br> 08/15/42, (1-mo. CME Term SOFR <br> +1.25%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD120 | &nbsp;&nbsp; 120037 |
| &nbsp;&nbsp;&nbsp; SCG Mortgage Trust, 5.77%, 04/15/41, (1-mo. <br> CME Term SOFR +1.74%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD242 | &nbsp;&nbsp; 241849 |
| &nbsp;&nbsp;&nbsp; SDAL Trust, 6.47%, 04/15/42, (1-mo. CME <br> Term SOFR +2.44%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100742 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| SELF Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.57%, 11/15/34, (1-mo. CME Term SOFR <br> +1.54%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD140 | &nbsp;&nbsp; $140000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.22%, 11/15/34, (1-mo. CME Term SOFR <br> +4.19%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100124 |
| Shops at Crystals Trust, 3.73%, 07/05/36<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD206 | &nbsp;&nbsp; 203968 |
| &nbsp;&nbsp;&nbsp; SHR Trust, 5.98%, 10/15/41, (1-mo. CME Term <br> SOFR +1.95%)<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100063 |
| SLG Office Trust, 2.59%, 07/15/41<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD425 | &nbsp;&nbsp; 379140 |
| &nbsp;&nbsp;&nbsp; Spruce Hill Mortgage Loan Trust, 5.00%, <br> 06/25/55<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD80 | &nbsp;&nbsp; 78884 |
| Toorak Mortgage Trust, 6.33%, 10/25/31<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100385 |
| TRK Trust, 4.10%, 11/25/56<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD137 | &nbsp;&nbsp; 115594 |
| &nbsp;&nbsp;&nbsp; UBS Commercial Mortgage Trust, Series <br> 2018-C15, Class B, 4.92%, 12/15/51<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD71 | &nbsp;&nbsp; 69011 |
| VCC Trust, 8.16%, 05/25/55<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD83 | &nbsp;&nbsp; 82615 |
| VEGAS Trust |  |  |
| &nbsp;&nbsp;&nbsp; 5.52%, 11/10/39<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10121 |
| &nbsp;&nbsp;&nbsp; 6.22%, 07/10/36<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 98944 |
| &nbsp;&nbsp;&nbsp; 6.22%, 07/10/36<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 40256 |
| Velocity Commercial Capital Loan Trust |  |  |
| &nbsp;&nbsp;&nbsp; 2.61%, 02/25/50<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD128 | &nbsp;&nbsp; 118956 |
| &nbsp;&nbsp;&nbsp; 5.67%, 04/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD331 | &nbsp;&nbsp; 333502 |
| &nbsp;&nbsp;&nbsp; 5.87%, 06/25/55<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD261 | &nbsp;&nbsp; 263824 |
| &nbsp;&nbsp;&nbsp; 6.55%, 01/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD62 | &nbsp;&nbsp; 62291 |
| &nbsp;&nbsp;&nbsp; 9.67%, 12/25/54<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD99 | &nbsp;&nbsp; 100200 |
| Verus Securitization Trust |  |  |
| &nbsp;&nbsp;&nbsp; 1.82%, 11/25/66<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD75 | &nbsp;&nbsp; 69742 |
| &nbsp;&nbsp;&nbsp; 5.42%, 07/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD634 | &nbsp;&nbsp; 638567 |
| &nbsp;&nbsp;&nbsp; 5.43%, 06/25/70<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; USD111 | &nbsp;&nbsp; 111314 |
| &nbsp;&nbsp;&nbsp; 6.40%, 05/25/65<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99069 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/25/69<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99681 |
| &nbsp;&nbsp;&nbsp; 7.06%, 06/25/70<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100724 |
| &nbsp;&nbsp;&nbsp; 7.72%, 03/25/68<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 200386 |
| &nbsp;&nbsp;&nbsp; 8.08%, 12/25/68<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 101591 |
| Visio Trust, 5.95%, 08/25/57<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99548 |
| &nbsp;&nbsp;&nbsp; Vista Point Securitization Trust, 5.16%, <br> 04/25/65<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 97417 |
| &nbsp;&nbsp;&nbsp; WaMu Mortgage Pass-Through Certificates <br> Series Trust, 4.91%, 06/25/47, (12-mo. MTA <br> + 0.80%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD104 | &nbsp;&nbsp; 87699 |
| &nbsp;&nbsp;&nbsp; Washington Mutual Mortgage Pass-Through <br> Certificates WMALT Series Trust<br>|  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.45%, 12/25/36, (1-mo. CME Term SOFR <br> +0.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD213 | &nbsp;&nbsp; 178527 |
| &nbsp;&nbsp;&nbsp; 4.83%, 12/25/46, (12-mo. MTA + 0.72%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD119 | &nbsp;&nbsp; 98799 |
| Wells Fargo Commercial Mortgage Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.09%, 07/15/43<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD153 | &nbsp;&nbsp; 1286 |
| &nbsp;&nbsp;&nbsp; 3.75%, 03/15/59 | &nbsp;&nbsp;&nbsp; USD150 | &nbsp;&nbsp; 149099 |
| &nbsp;&nbsp;&nbsp; 6.22%, 07/15/43<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD219 | &nbsp;&nbsp; 226087 |
| &nbsp;&nbsp;&nbsp; 6.43%, 07/15/43<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12128 |
| &nbsp;&nbsp;&nbsp; 7.08%, 07/15/43<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 17147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2015-C31, Class B, 4.48%, <br> 11/15/48<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD80 | &nbsp;&nbsp; 79745 |
| WEST Trust, 5.28%, 04/10/35<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; USD108 | &nbsp;&nbsp; 109663 |
| &nbsp;&nbsp;&nbsp; WHARF Commercial Mortgage Trust, 7.72%, <br> 07/15/40<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 102451 |
|  |  | &nbsp;&nbsp; 42154315 |
| **Total Collateralized Mortgage Obligations — 15.1%** <br>**(Cost: $42,298,272)** | **Total Collateralized Mortgage Obligations — 15.1%** <br>**(Cost: $42,298,272)** | &nbsp;&nbsp; 42686561 |
| **Convertible Bonds** | **Convertible Bonds** | **Convertible Bonds** |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| AMC Networks Inc., 4.25%, 02/15/29 | &nbsp;&nbsp;&nbsp; $9 | &nbsp;&nbsp; 8123 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Solaris Energy Infrastructure Inc., 0.25%, <br> 10/01/31<br>| &nbsp;&nbsp;&nbsp; $87 | &nbsp;&nbsp; $103443 |
| **Total Convertible Bonds — 0.0%** <br>**(Cost: $112,786)** | **Total Convertible Bonds — 0.0%** <br>**(Cost: $112,786)** | &nbsp;&nbsp; 111566 |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 0.0%** | **Advertising — 0.0%** | **Advertising — 0.0%** |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media <br> Capital Corp., 4.25%, 01/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24143 |
| **Aerospace & Defense — 0.3%** | **Aerospace & Defense — 0.3%** | **Aerospace & Defense — 0.3%** |
| Boeing Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 2.25%, 06/15/26 | &nbsp;&nbsp;&nbsp; USD178 | &nbsp;&nbsp; 175673 |
| &nbsp;&nbsp;&nbsp; 7.01%, 05/01/64 | &nbsp;&nbsp;&nbsp; USD146 | &nbsp;&nbsp; 167098 |
| Bombardier Inc., 7.25%, 07/01/31<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 16983 |
| &nbsp;&nbsp;&nbsp; Embraer Netherlands Finance BV, 5.98%, <br> 02/11/35<br>| &nbsp;&nbsp;&nbsp; USD197 | &nbsp;&nbsp; 210593 |
| L3Harris Technologies Inc., 4.85%, 04/27/35 | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 19977 |
| Northrop Grumman Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.03%, 10/15/47 | &nbsp;&nbsp;&nbsp; USD141 | &nbsp;&nbsp; 115735 |
| &nbsp;&nbsp;&nbsp; 4.95%, 03/15/53 | &nbsp;&nbsp;&nbsp; USD71 | &nbsp;&nbsp; 65320 |
| &nbsp;&nbsp;&nbsp; 5.25%, 05/01/50 | &nbsp;&nbsp;&nbsp; USD44 | &nbsp;&nbsp; 42504 |
| TransDigm Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 01/15/29 | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22623 |
| &nbsp;&nbsp;&nbsp; 6.63%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25852 |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 50986 |
|  |  | &nbsp;&nbsp; 913344 |
| **Agriculture — 0.6%** | **Agriculture — 0.6%** | **Agriculture — 0.6%** |
| Altria Group Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.40%, 02/04/41 | &nbsp;&nbsp;&nbsp; USD254 | &nbsp;&nbsp; 195787 |
| &nbsp;&nbsp;&nbsp; 3.88%, 09/16/46 | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 25897 |
| &nbsp;&nbsp;&nbsp; 4.25%, 08/09/42 | &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 15917 |
| &nbsp;&nbsp;&nbsp; 5.25%, 08/06/35 | &nbsp;&nbsp;&nbsp; USD75 | &nbsp;&nbsp; 75642 |
| &nbsp;&nbsp;&nbsp; 5.63%, 02/06/35 | &nbsp;&nbsp;&nbsp; USD197 | &nbsp;&nbsp; 204176 |
| &nbsp;&nbsp;&nbsp; 6.20%, 02/14/59 | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 13300 |
| BAT Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.54%, 08/15/47 | &nbsp;&nbsp;&nbsp; USD252 | &nbsp;&nbsp; 211240 |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/22/33 | &nbsp;&nbsp;&nbsp; USD120 | &nbsp;&nbsp; 118552 |
| &nbsp;&nbsp;&nbsp; 4.76%, 09/06/49 | &nbsp;&nbsp;&nbsp; USD196 | &nbsp;&nbsp; 167263 |
| &nbsp;&nbsp;&nbsp; 5.28%, 04/02/50 | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 24651 |
| &nbsp;&nbsp;&nbsp; 5.65%, 03/16/52 | &nbsp;&nbsp;&nbsp; USD144 | &nbsp;&nbsp; 137422 |
| &nbsp;&nbsp;&nbsp; 7.08%, 08/02/43 | &nbsp;&nbsp;&nbsp; USD127 | &nbsp;&nbsp; 143168 |
| &nbsp;&nbsp;&nbsp; 7.08%, 08/02/53 | &nbsp;&nbsp;&nbsp; USD69 | &nbsp;&nbsp; 78873 |
| Reynolds American Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.85%, 08/15/45 | &nbsp;&nbsp;&nbsp; USD239 | &nbsp;&nbsp; 236926 |
| &nbsp;&nbsp;&nbsp; 6.15%, 09/15/43 | &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 26757 |
| &nbsp;&nbsp;&nbsp; 7.00%, 08/04/41 | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10686 |
|  |  | &nbsp;&nbsp; 1686257 |
| **Airlines — 0.0%** | **Airlines — 0.0%** | **Airlines — 0.0%** |
| Allegiant Travel Co., 7.25%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD8 | &nbsp;&nbsp; 8090 |
| &nbsp;&nbsp;&nbsp; American Airlines 2025-1 Class B Pass <br> Through Trust, Series B, 5.65%, 05/11/36<br>| &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 9110 |
| &nbsp;&nbsp;&nbsp; American Airlines Inc./AAdvantage Loyalty IP <br> Ltd., 5.75%, 04/20/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 23206 |
| United Airlines Inc., 4.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 21789 |
|  |  | &nbsp;&nbsp; 62195 |
| **Apparel — 0.0%** | **Apparel — 0.0%** | **Apparel — 0.0%** |
| Hanesbrands Inc., 9.00%, 02/15/31<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 24250 |
| **Auto Manufacturers — 0.3%** | **Auto Manufacturers — 0.3%** | **Auto Manufacturers — 0.3%** |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.92%, 03/20/28 | &nbsp;&nbsp;&nbsp; USD402 | &nbsp;&nbsp; 410731 |
| &nbsp;&nbsp;&nbsp; 6.80%, 11/07/28 | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 208984 |
| General Motors Financial Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.40%, 04/06/26 | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 7031 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** | **Auto Manufacturers (continued)** |
| &nbsp;&nbsp;&nbsp; 5.90%, 01/07/35 | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; $26043 |
| &nbsp;&nbsp;&nbsp; 5.95%, 04/04/34 | &nbsp;&nbsp;&nbsp; USD43 | &nbsp;&nbsp; 44966 |
| &nbsp;&nbsp;&nbsp; 6.10%, 01/07/34 | &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 23248 |
| Nissan Motor Acceptance Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.63%, 09/29/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 30977 |
| &nbsp;&nbsp;&nbsp; 7.05%, 09/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 104035 |
|  |  | &nbsp;&nbsp; 856015 |
| **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** | **Auto Parts & Equipment — 0.1%** |
| &nbsp;&nbsp;&nbsp; Adient Global Holdings Ltd., 7.50%, <br> 02/15/33<sup>(a)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 51685 |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., 5.00%, <br> 10/01/29<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 24708 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP/Clarios U.S. Finance Co., <br> 6.75%, 02/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 51834 |
| Dana Inc., 5.63%, 06/15/28 | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 49951 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (The), 5.00%, <br> 07/15/29<br>| &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11422 |
| Tenneco Inc., 8.00%, 11/17/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24932 |
|  |  | &nbsp;&nbsp; 214532 |
| **Banks — 5.4%** | **Banks — 5.4%** | **Banks — 5.4%** |
| Bank of America Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 1.92%, 10/24/31, (1-day SOFR + 1.37%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; 37372 |
| &nbsp;&nbsp;&nbsp; 2.57%, 10/20/32, (1-day SOFR + 1.21%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD136 | &nbsp;&nbsp; 122308 |
| &nbsp;&nbsp;&nbsp; 2.83%, 10/24/51, (1-day SOFR + 1.88%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD61 | &nbsp;&nbsp; 39522 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.88%, 10/22/30, (3-mo. CME Term SOFR + <br> 1.45%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 25641 |
| &nbsp;&nbsp;&nbsp; 2.97%, 02/04/33, (1-day SOFR + 1.33%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD339 | &nbsp;&nbsp; 309134 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.42%, 12/20/28, (3-mo. CME Term SOFR <br> +1.30%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD103 | &nbsp;&nbsp; 101407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.59%, 07/21/28, (3-mo. CME Term SOFR <br> +1.63%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD192 | &nbsp;&nbsp; 190310 |
| &nbsp;&nbsp;&nbsp; 4.57%, 04/27/33, (1-day SOFR + 1.83%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD164 | &nbsp;&nbsp; 163730 |
| &nbsp;&nbsp;&nbsp; 4.62%, 05/09/29, (1-day SOFR + 1.11%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD446 | &nbsp;&nbsp; 451366 |
| &nbsp;&nbsp;&nbsp; 4.88%, 04/01/44 | &nbsp;&nbsp;&nbsp; USD66 | &nbsp;&nbsp; 63287 |
| &nbsp;&nbsp;&nbsp; 5.02%, 07/22/33, (1-day SOFR + 2.16%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10238 |
| &nbsp;&nbsp;&nbsp; 5.16%, 01/24/31, (1-day SOFR + 1.00%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20651 |
| &nbsp;&nbsp;&nbsp; 5.20%, 04/25/29, (1-day SOFR + 1.63%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD75 | &nbsp;&nbsp; 76812 |
| &nbsp;&nbsp;&nbsp; 5.29%, 04/25/34, (1-day SOFR + 1.91%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD131 | &nbsp;&nbsp; 135544 |
| &nbsp;&nbsp;&nbsp; 5.46%, 05/09/36, (1-day SOFR + 1.64%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD260 | &nbsp;&nbsp; 272008 |
| &nbsp;&nbsp;&nbsp; 5.51%, 01/24/36, (1-day SOFR + 1.31%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD94 | &nbsp;&nbsp; 98411 |
| &nbsp;&nbsp;&nbsp; 5.82%, 09/15/29, (1-day SOFR + 1.57%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD90 | &nbsp;&nbsp; 93932 |
| Citigroup Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.67%, 01/29/31, (1-day SOFR + 1.15%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 10252 |
| &nbsp;&nbsp;&nbsp; 2.98%, 11/05/30, (1-day SOFR + 1.42%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD206 | &nbsp;&nbsp; 195349 |
| &nbsp;&nbsp;&nbsp; 3.06%, 01/25/33, (1-day SOFR + 1.35%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD392 | &nbsp;&nbsp; 358162 |
| &nbsp;&nbsp;&nbsp; 3.79%, 03/17/33, (1-day SOFR + 1.94%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD85 | &nbsp;&nbsp; 80840 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.11%, 04/29/36, (3-mo. EURIBOR + <br> 1.58%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | &nbsp;&nbsp; 239181 |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/11/31, (1-day SOFR + 1.17%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD321 | &nbsp;&nbsp; 321390 |
| &nbsp;&nbsp;&nbsp; 4.54%, 09/19/30, (1-day SOFR + 1.34%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD88 | &nbsp;&nbsp; 88575 |
| &nbsp;&nbsp;&nbsp; 4.64%, 05/07/28, (1-day SOFR + 1.14%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD150 | &nbsp;&nbsp; 150974 |
| &nbsp;&nbsp;&nbsp; 4.79%, 03/04/29, (1-day SOFR + 0.87%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD254 | &nbsp;&nbsp; 257299 |
| &nbsp;&nbsp;&nbsp; 4.95%, 05/07/31, (1-day SOFR + 1.46%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25502 |
| &nbsp;&nbsp;&nbsp; 5.17%, 09/11/36, (1-day SOFR + 1.49%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 40498 |
| &nbsp;&nbsp;&nbsp; 6.27%, 11/17/33, (1-day SOFR + 2.34%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10911 |
| &nbsp;&nbsp;&nbsp; First Citizens BancShares Inc./NC, 6.25%, <br> 03/12/40, (5-year CMT + 1.97%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD63 | &nbsp;&nbsp; 63953 |
| Freedom Mortgage Corp., 12.25%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 11132 |
| Goldman Sachs Group Inc. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 1.54%, 09/10/27, (1-day SOFR + 0.82%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 29313 |
| &nbsp;&nbsp;&nbsp; 1.99%, 01/27/32, (1-day SOFR + 1.09%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD372 | &nbsp;&nbsp; 328950 |
| &nbsp;&nbsp;&nbsp; 2.38%, 07/21/32, (1-day SOFR + 1.25%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 13367 |
| &nbsp;&nbsp;&nbsp; 2.62%, 04/22/32, (1-day SOFR + 1.28%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD45 | &nbsp;&nbsp; 40839 |
| &nbsp;&nbsp;&nbsp; 2.64%, 02/24/28, (1-day SOFR + 1.11%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD174 | &nbsp;&nbsp; 170595 |
| &nbsp;&nbsp;&nbsp; 2.65%, 10/21/32, (1-day SOFR + 1.26%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD41 | &nbsp;&nbsp; 36881 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Banks (continued)** | **Banks (continued)** | **Banks (continued)** |
| &nbsp;&nbsp;&nbsp; 3.10%, 02/24/33, (1-day SOFR + 1.41%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD426 | &nbsp;&nbsp; $390852 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.81%, 04/23/29, (3-mo. CME Term SOFR <br> +1.42%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD121 | &nbsp;&nbsp; 119833 |
| &nbsp;&nbsp;&nbsp; 4.15%, 10/21/29, (1-day SOFR + 0.90%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 57828 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.22%, 05/01/29, (3-mo. CME Term SOFR <br> +1.56%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD262 | &nbsp;&nbsp; 262111 |
| &nbsp;&nbsp;&nbsp; 4.48%, 08/23/28, (1-day SOFR + 1.73%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD327 | &nbsp;&nbsp; 328685 |
| &nbsp;&nbsp;&nbsp; 4.94%, 04/23/28, (1-day SOFR + 1.32%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD419 | &nbsp;&nbsp; 423524 |
| &nbsp;&nbsp;&nbsp; 5.02%, 10/23/35, (1-day SOFR + 1.42%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD72 | &nbsp;&nbsp; 72488 |
| &nbsp;&nbsp;&nbsp; 5.05%, 07/23/30, (1-day SOFR + 1.21%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD117 | &nbsp;&nbsp; 119722 |
| &nbsp;&nbsp;&nbsp; 5.21%, 01/28/31, (1-day SOFR + 1.08%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD123 | &nbsp;&nbsp; 126924 |
| &nbsp;&nbsp;&nbsp; 5.33%, 07/23/35, (1-day SOFR + 1.55%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD88 | &nbsp;&nbsp; 90626 |
| JPMorgan Chase & Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.76%, 11/19/31, (3-mo. CME Term SOFR + <br> 1.11%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD93 | &nbsp;&nbsp; 82288 |
| &nbsp;&nbsp;&nbsp; 2.07%, 06/01/29, (1-day SOFR + 1.02%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD463 | &nbsp;&nbsp; 440156 |
| &nbsp;&nbsp;&nbsp; 2.96%, 01/25/33, (1-day SOFR + 1.26%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 20158 |
| &nbsp;&nbsp;&nbsp; 4.51%, 10/22/28, (1-day SOFR + 0.86%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD625 | &nbsp;&nbsp; 629834 |
| &nbsp;&nbsp;&nbsp; 4.92%, 01/24/29, (1-day SOFR + 0.80%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD83 | &nbsp;&nbsp; 84474 |
| &nbsp;&nbsp;&nbsp; 4.95%, 10/22/35, (1-day SOFR + 1.34%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24269 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/22/30, (1-day SOFR + 0.13%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD566 | &nbsp;&nbsp; 580690 |
| &nbsp;&nbsp;&nbsp; 5.10%, 04/22/31, (1-day SOFR + 1.44%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25822 |
| &nbsp;&nbsp;&nbsp; 5.14%, 01/24/31, (1-day SOFR + 1.01%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD718 | &nbsp;&nbsp; 741863 |
| &nbsp;&nbsp;&nbsp; 5.29%, 07/22/35, (1-day SOFR + 1.46%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD353 | &nbsp;&nbsp; 365026 |
| &nbsp;&nbsp;&nbsp; 5.35%, 06/01/34, (1-day SOFR + 1.85%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 62633 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/24/36, (1-day SOFR + 1.32%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD388 | &nbsp;&nbsp; 407165 |
| KeyBank NA, 5.00%, 01/26/33 | &nbsp;&nbsp;&nbsp; USD250 | &nbsp;&nbsp; 251734 |
| Morgan Stanley |  |  |
| &nbsp;&nbsp;&nbsp; 1.59%, 05/04/27, (1-day SOFR + 0.88%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD56 | &nbsp;&nbsp; 55242 |
| &nbsp;&nbsp;&nbsp; 1.79%, 02/13/32, (1-day SOFR + 1.03%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD263 | &nbsp;&nbsp; 230015 |
| &nbsp;&nbsp;&nbsp; 2.48%, 01/21/28, (1-day SOFR + 1.00%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD225 | &nbsp;&nbsp; 220529 |
| &nbsp;&nbsp;&nbsp; 2.70%, 01/22/31, (1-day SOFR + 1.14%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 22466 |
| &nbsp;&nbsp;&nbsp; 2.94%, 01/21/33, (1-day SOFR + 1.29%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD106 | &nbsp;&nbsp; 96483 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.77%, 01/24/29, (3-mo. CME Term SOFR <br> +1.40%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD239 | &nbsp;&nbsp; 236963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.10%, 05/22/36, (3-mo. EURIBOR + <br> 1.55%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | &nbsp;&nbsp; 240050 |
| &nbsp;&nbsp;&nbsp; 4.99%, 04/12/29, (1-day SOFR + 1.38%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD565 | &nbsp;&nbsp; 575507 |
| &nbsp;&nbsp;&nbsp; 5.19%, 04/17/31, (1-day SOFR + 1.51%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD116 | &nbsp;&nbsp; 119577 |
| &nbsp;&nbsp;&nbsp; 5.23%, 01/15/31, (1-day SOFR + 1.11%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD677 | &nbsp;&nbsp; 698926 |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/21/34, (1-day SOFR + 1.87%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD786 | &nbsp;&nbsp; 811212 |
| &nbsp;&nbsp;&nbsp; 5.32%, 07/19/35, (1-day SOFR + 1.56%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD156 | &nbsp;&nbsp; 160434 |
| &nbsp;&nbsp;&nbsp; 5.66%, 04/18/30, (1-day SOFR + 1.26%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD261 | &nbsp;&nbsp; 272265 |
| &nbsp;&nbsp;&nbsp; 7.25%, 04/01/32 | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 12725 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series I, 4.13%, 10/18/29, (1-day SOFR + <br> 0.91%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD260 | &nbsp;&nbsp; 259392 |
| &nbsp;&nbsp;&nbsp; Texas Capital Bancshares Inc., 4.00%, <br> 05/06/31, (5-year CMT + 3.15%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD32 | &nbsp;&nbsp; 31481 |
| Wells Fargo & Co. |  |  |
| &nbsp;&nbsp;&nbsp; 3.35%, 03/02/33, (1-day SOFR + 1.50%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD77 | &nbsp;&nbsp; 71789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.90%, 07/22/32, (3-mo. EURIBOR + <br> 1.22%)<sup>(b)(e)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | &nbsp;&nbsp; 239236 |
| &nbsp;&nbsp;&nbsp; 3.90%, 05/01/45 | &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 17227 |
| &nbsp;&nbsp;&nbsp; 4.61%, 04/25/53, (1-day SOFR + 2.13%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD44 | &nbsp;&nbsp; 38615 |
| &nbsp;&nbsp;&nbsp; 4.90%, 07/25/33, (1-day SOFR + 2.10%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD41 | &nbsp;&nbsp; 41619 |
| &nbsp;&nbsp;&nbsp; 5.21%, 12/03/35, (1-day SOFR + 1.38%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 36819 |
| &nbsp;&nbsp;&nbsp; 5.24%, 01/24/31, (1-day SOFR + 1.11%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD167 | &nbsp;&nbsp; 172842 |
| &nbsp;&nbsp;&nbsp; 5.39%, 04/24/34, (1-day SOFR + 2.02%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD248 | &nbsp;&nbsp; 257567 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/23/35, (1-day SOFR + 1.78%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 19834 |
| &nbsp;&nbsp;&nbsp; 5.61%, 04/23/36, (1-day SOFR + 1.74%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD62 | &nbsp;&nbsp; 65154 |
| &nbsp;&nbsp;&nbsp; 5.71%, 04/22/28, (1-day SOFR + 0.07%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD44 | &nbsp;&nbsp; 44964 |
|  |  | &nbsp;&nbsp; 15443274 |
| **Beverages — 0.0%** | **Beverages — 0.0%** | **Beverages — 0.0%** |
| Heineken NV, 3.51%, 05/03/34<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; EUR110 | &nbsp;&nbsp; 128341 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Biotechnology — 0.1%** | **Biotechnology — 0.1%** | **Biotechnology — 0.1%** |
| Amgen Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.77%, 09/01/53 | &nbsp;&nbsp;&nbsp; USD70 | &nbsp;&nbsp; $42554 |
| &nbsp;&nbsp;&nbsp; 4.40%, 02/22/62 | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 28830 |
| &nbsp;&nbsp;&nbsp; 5.75%, 03/02/63 | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 12984 |
| &nbsp;&nbsp;&nbsp; Biocon Biologics Global PLC, 6.67%, <br> 10/09/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 197555 |
|  |  | &nbsp;&nbsp; 281923 |
| **Building Materials — 0.1%** | **Building Materials — 0.1%** | **Building Materials — 0.1%** |
| Builders FirstSource Inc., 5.00%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 16829 |
| &nbsp;&nbsp;&nbsp; Camelot Return Merger Sub Inc., 8.75%, <br> 08/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 92442 |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP/Emerald Co-Issuer Inc., <br> 6.63%, 12/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 51401 |
| Quikrete Holdings Inc., 6.38%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 51861 |
| &nbsp;&nbsp;&nbsp; Standard Industries Inc./New York, 4.75%, <br> 01/15/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11961 |
|  |  | &nbsp;&nbsp; 224494 |
| **Chemicals — 0.3%** | **Chemicals — 0.3%** | **Chemicals — 0.3%** |
| Brenntag Finance BV, 3.38%, 10/02/31<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; EUR200 | &nbsp;&nbsp; 229707 |
| Celanese U.S. Holdings LLC, 7.05%, 11/15/30 | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 50881 |
| Chemours Co. (The), 5.75%, 11/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22039 |
| Dow Chemical Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 4.80%, 01/15/31 | &nbsp;&nbsp;&nbsp; USD83 | &nbsp;&nbsp; 82719 |
| &nbsp;&nbsp;&nbsp; 5.60%, 02/15/54 | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 13469 |
| &nbsp;&nbsp;&nbsp; 5.65%, 03/15/36<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 14014 |
| NOVA Chemicals Corp., 4.25%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24330 |
| Olin Corp., 5.00%, 02/01/30<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 26258 |
| &nbsp;&nbsp;&nbsp; Orbia Advance Corp. SAB de CV, 6.80%, <br> 05/13/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 200310 |
| Tronox Inc., 4.63%, 03/15/29<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 61478 |
|  |  | &nbsp;&nbsp; 725205 |
| **Commercial Services — 0.6%** | **Commercial Services — 0.6%** | **Commercial Services — 0.6%** |
| &nbsp;&nbsp;&nbsp; Allied Universal Holdco LLC, 7.88%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24989 |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC/Avis Budget <br> Finance Inc., 4.75%, 04/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11515 |
| Block Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 06/01/31 | &nbsp;&nbsp;&nbsp; USD300 | &nbsp;&nbsp; 279326 |
| &nbsp;&nbsp;&nbsp; 5.63%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 101511 |
| Brink's Co. (The), 4.63%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 10926 |
| &nbsp;&nbsp;&nbsp; DP World Ltd./United Arab Emirates, 6.85%, <br> 07/02/37<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD180 | &nbsp;&nbsp; 207000 |
| EquipmentShare.com Inc., 9.00%, 05/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 50377 |
| &nbsp;&nbsp;&nbsp; Garda World Security Corp., 8.25%, <br> 08/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 50877 |
| GEO Group Inc. (The), 8.63%, 04/15/29 | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 105532 |
| Herc Holdings Inc., 6.63%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 51633 |
| Kaspi.KZ JSC |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/26/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 205392 |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/26/30<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 205392 |
| RR Donnelley & Sons Co., 10.88%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 100523 |
| &nbsp;&nbsp;&nbsp; United Rentals North America Inc., 3.75%, <br> 01/15/32<br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 93033 |
| Worldline SA/France, 0.88%, 06/30/27<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; EUR100 | &nbsp;&nbsp; 99962 |
|  |  | &nbsp;&nbsp; 1597988 |
| **Computers — 0.4%** | **Computers — 0.4%** | **Computers — 0.4%** |
| Amentum Holdings Inc., 7.25%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 52035 |
| Apple Inc., 4.85%, 05/10/53 | &nbsp;&nbsp;&nbsp; USD97 | &nbsp;&nbsp; 94105 |
| Gartner Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD365 | &nbsp;&nbsp; 350409 |
| &nbsp;&nbsp;&nbsp; 3.75%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD131 | &nbsp;&nbsp; 123935 |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD470 | &nbsp;&nbsp; 466135 |
| McAfee Corp., 7.38%, 02/15/30<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 91544 |
| NCR Voyix Corp., 5.00%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 16835 |
|  |  | &nbsp;&nbsp; 1194998 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Diversified Financial Services — 1.2%** | **Diversified Financial Services — 1.2%** | **Diversified Financial Services — 1.2%** |
| &nbsp;&nbsp;&nbsp; American Express Co., 4.92%, 07/20/33, (1-day <br> SOFR + 1.22%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD119 | &nbsp;&nbsp; $121242 |
| &nbsp;&nbsp;&nbsp; AT&T Reign II Multi-Property Lease-Backed <br> Pass-Through Trust, 6.09%, 12/15/44<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD125 | &nbsp;&nbsp; 127528 |
| Credit Acceptance Corp., 6.63%, 03/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99952 |
| &nbsp;&nbsp;&nbsp; Flourishing Trade & Investment Ltd., 11.04%, <br> 04/02/30<sup>(f)</sup><br>| &nbsp;&nbsp;&nbsp; USD211 | &nbsp;&nbsp; 219412 |
| &nbsp;&nbsp;&nbsp; Freedom Mortgage Holdings LLC, 8.38%, <br> 04/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 104261 |
| &nbsp;&nbsp;&nbsp; Jane Street Group/JSG Finance Inc., 7.13%, <br> 04/30/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 52468 |
| &nbsp;&nbsp;&nbsp; PennyMac Financial Services Inc., 7.13%, <br> 11/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 52349 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage <br> Co-Issuer Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 27485 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/15/33<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 46044 |
| Synchrony Financial |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 10/28/31 | &nbsp;&nbsp;&nbsp; USD287 | &nbsp;&nbsp; 254817 |
| &nbsp;&nbsp;&nbsp; 3.95%, 12/01/27 | &nbsp;&nbsp;&nbsp; USD141 | &nbsp;&nbsp; 139798 |
| &nbsp;&nbsp;&nbsp; 5.02%, 07/29/29, (1-day SOFR + 1.40%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD314 | &nbsp;&nbsp; 316328 |
| &nbsp;&nbsp;&nbsp; 5.15%, 03/19/29 | &nbsp;&nbsp;&nbsp; USD335 | &nbsp;&nbsp; 340147 |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/06/31, (1-day SOFR + 1.68%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD338 | &nbsp;&nbsp; 343822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.94%, 08/02/30, (1-day SOFR Index + <br> 2.13%)<sup>(b)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD283 | &nbsp;&nbsp; 292756 |
| &nbsp;&nbsp;&nbsp; 7.25%, 02/02/33<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; USD188 | &nbsp;&nbsp; 199286 |
| Trust Fibra Uno, 7.70%, 01/23/32<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD442 | &nbsp;&nbsp; 483088 |
| &nbsp;&nbsp;&nbsp; United Wholesale Mortgage LLC, 5.50%, <br> 04/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 26591 |
| UWM Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 6.25%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 13975 |
| &nbsp;&nbsp;&nbsp; 6.63%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12225 |
|  |  | &nbsp;&nbsp; 3273574 |
| **Electric — 4.1%** | **Electric — 4.1%** | **Electric — 4.1%** |
| AEP Texas Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.45%, 05/15/51 | &nbsp;&nbsp;&nbsp; USD48 | &nbsp;&nbsp; 33237 |
| &nbsp;&nbsp;&nbsp; 5.40%, 06/01/33 | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24733 |
| &nbsp;&nbsp;&nbsp; 5.70%, 05/15/34 | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18783 |
| &nbsp;&nbsp;&nbsp; Series E, 6.65%, 02/15/33 | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 15392 |
| &nbsp;&nbsp;&nbsp; Series G, 4.15%, 05/01/49 | &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 17259 |
| &nbsp;&nbsp;&nbsp; Series H, 3.45%, 01/15/50 | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 27197 |
| AEP Transmission Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.15%, 09/15/49 | &nbsp;&nbsp;&nbsp; USD47 | &nbsp;&nbsp; 32608 |
| &nbsp;&nbsp;&nbsp; 3.75%, 12/01/47 | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 18737 |
| &nbsp;&nbsp;&nbsp; 3.80%, 06/15/49 | &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 4656 |
| &nbsp;&nbsp;&nbsp; 5.38%, 06/15/35 | &nbsp;&nbsp;&nbsp; USD72 | &nbsp;&nbsp; 74577 |
| &nbsp;&nbsp;&nbsp; Series N, 2.75%, 08/15/51 | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 12679 |
| &nbsp;&nbsp;&nbsp; AES Corp. (The), 6.95%, 07/15/55, (5-year <br> CMT + 2.89%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 96749 |
| Alabama Power Co. |  |  |
| &nbsp;&nbsp;&nbsp; 3.85%, 12/01/42 | &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 7494 |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/15/41 | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 15244 |
| &nbsp;&nbsp;&nbsp; 6.00%, 03/01/39 | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 13060 |
| Baltimore Gas & Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp; 2.90%, 06/15/50 | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 3288 |
| &nbsp;&nbsp;&nbsp; 3.75%, 08/15/47 | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 13330 |
| Calpine Corp., 4.63%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22859 |
| &nbsp;&nbsp;&nbsp; Continuum Energy Aura Pte. Ltd., 9.50%, <br> 02/24/27<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 205626 |
| &nbsp;&nbsp;&nbsp; Continuum Green Energy India Pvt / <br> Co-Issuers, 7.50%, 06/26/33<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD193 | &nbsp;&nbsp; 203390 |
| Diamond II Ltd., 7.95%, 07/28/26<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 201202 |
| &nbsp;&nbsp;&nbsp; Dominion Energy Inc., Series B, 7.00%, <br> 06/01/54, (5-year CMT + 2.51%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD60 | &nbsp;&nbsp; 65538 |
| &nbsp;&nbsp;&nbsp; Dominion Energy South Carolina Inc., Series <br> 2025, 5.30%, 01/15/35<br>| &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 9359 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| Duke Energy Carolinas LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.20%, 08/15/49 | &nbsp;&nbsp;&nbsp; USD64 | &nbsp;&nbsp; $44719 |
| &nbsp;&nbsp;&nbsp; 3.45%, 04/15/51 | &nbsp;&nbsp;&nbsp; USD41 | &nbsp;&nbsp; 29766 |
| &nbsp;&nbsp;&nbsp; 3.55%, 03/15/52 | &nbsp;&nbsp;&nbsp; USD29 | &nbsp;&nbsp; 21398 |
| &nbsp;&nbsp;&nbsp; 3.70%, 12/01/47 | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 20923 |
| &nbsp;&nbsp;&nbsp; 5.35%, 01/15/53 | &nbsp;&nbsp;&nbsp; USD58 | &nbsp;&nbsp; 57094 |
| &nbsp;&nbsp;&nbsp; 5.40%, 01/15/54 | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 38759 |
| Duke Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 06/15/51 | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 8493 |
| &nbsp;&nbsp;&nbsp; 3.95%, 08/15/47 | &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 20514 |
| &nbsp;&nbsp;&nbsp; 5.80%, 06/15/54 | &nbsp;&nbsp;&nbsp; USD349 | &nbsp;&nbsp; 352515 |
| Duke Energy Florida LLC, 3.00%, 12/15/51 | &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 21789 |
| Duke Energy Ohio Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.13%, 06/01/30 | &nbsp;&nbsp;&nbsp; USD99 | &nbsp;&nbsp; 90616 |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/01/33 | &nbsp;&nbsp;&nbsp; USD47 | &nbsp;&nbsp; 48817 |
| &nbsp;&nbsp;&nbsp; 5.55%, 03/15/54 | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 50254 |
| Duke Energy Progress LLC |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 08/15/50 | &nbsp;&nbsp;&nbsp; USD178 | &nbsp;&nbsp; 107213 |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/01/52 | &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 7160 |
| &nbsp;&nbsp;&nbsp; 5.05%, 03/15/35 | &nbsp;&nbsp;&nbsp; USD258 | &nbsp;&nbsp; 263104 |
| &nbsp;&nbsp;&nbsp; 5.55%, 03/15/55 | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10086 |
| FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 2.65%, 03/01/30 | &nbsp;&nbsp;&nbsp; USD114 | &nbsp;&nbsp; 105772 |
| &nbsp;&nbsp;&nbsp; Series B, 3.90%, 07/15/27 | &nbsp;&nbsp;&nbsp; USD180 | &nbsp;&nbsp; 178874 |
| &nbsp;&nbsp;&nbsp; Series C, 3.40%, 03/01/50 | &nbsp;&nbsp;&nbsp; USD563 | &nbsp;&nbsp; 394279 |
| &nbsp;&nbsp;&nbsp; Series C, 4.85%, 07/15/47 | &nbsp;&nbsp;&nbsp; USD153 | &nbsp;&nbsp; 135934 |
| FirstEnergy Transmission LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.55%, 04/01/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD135 | &nbsp;&nbsp; 116917 |
| &nbsp;&nbsp;&nbsp; 4.55%, 04/01/49<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 31178 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD207 | &nbsp;&nbsp; 206784 |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/35 | &nbsp;&nbsp;&nbsp; USD260 | &nbsp;&nbsp; 260639 |
| &nbsp;&nbsp;&nbsp; 5.45%, 07/15/44<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD46 | &nbsp;&nbsp; 44891 |
| Florida Power & Light Co. |  |  |
| &nbsp;&nbsp;&nbsp; 2.88%, 12/04/51 | &nbsp;&nbsp;&nbsp; USD83 | &nbsp;&nbsp; 54074 |
| &nbsp;&nbsp;&nbsp; 3.15%, 10/01/49 | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 34957 |
| Georgia Power Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.70%, 05/15/32 | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24330 |
| &nbsp;&nbsp;&nbsp; 4.85%, 03/15/31 | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11288 |
| &nbsp;&nbsp;&nbsp; 4.95%, 05/17/33 | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 28583 |
| &nbsp;&nbsp;&nbsp; Series A, 3.25%, 03/15/51 | &nbsp;&nbsp;&nbsp; USD109 | &nbsp;&nbsp; 76413 |
| &nbsp;&nbsp;&nbsp; Series B, 3.70%, 01/30/50 | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 12274 |
| &nbsp;&nbsp;&nbsp; India Clean Energy Holdings, 4.50%, <br> 04/18/27<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 195600 |
| MidAmerican Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp; 3.15%, 04/15/50 | &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 24952 |
| &nbsp;&nbsp;&nbsp; 3.65%, 08/01/48 | &nbsp;&nbsp;&nbsp; USD8 | &nbsp;&nbsp; 6104 |
| Minejesa Capital BV, 5.63%, 08/10/37<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD216 | &nbsp;&nbsp; 215244 |
| &nbsp;&nbsp;&nbsp; Mong Duong Finance Holdings BV, 5.13%, <br> 05/07/29<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD169 | &nbsp;&nbsp; 167350 |
| MVM Energetika Zrt, 6.50%, 03/13/31<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 212000 |
| NRG Energy Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 22404 |
| &nbsp;&nbsp;&nbsp; 4.45%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD349 | &nbsp;&nbsp; 346652 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD326 | &nbsp;&nbsp; 359840 |
| Ohio Power Co. |  |  |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/01/49 | &nbsp;&nbsp;&nbsp; USD21 | &nbsp;&nbsp; 16343 |
| &nbsp;&nbsp;&nbsp; Series P, 2.60%, 04/01/30 | &nbsp;&nbsp;&nbsp; USD57 | &nbsp;&nbsp; 53107 |
| &nbsp;&nbsp;&nbsp; Series Q, 1.63%, 01/15/31 | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 43503 |
| &nbsp;&nbsp;&nbsp; Series R, 2.90%, 10/01/51 | &nbsp;&nbsp;&nbsp; USD66 | &nbsp;&nbsp; 41381 |
| Pacific Gas and Electric Co. |  |  |
| &nbsp;&nbsp;&nbsp; 3.30%, 08/01/40 | &nbsp;&nbsp;&nbsp; USD218 | &nbsp;&nbsp; 165549 |
| &nbsp;&nbsp;&nbsp; 3.50%, 08/01/50 | &nbsp;&nbsp;&nbsp; USD209 | &nbsp;&nbsp; 142818 |
| &nbsp;&nbsp;&nbsp; 3.75%, 08/15/42 | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 9919 |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/01/46 | &nbsp;&nbsp;&nbsp; USD197 | &nbsp;&nbsp; 148946 |
| &nbsp;&nbsp;&nbsp; 4.25%, 03/15/46 | &nbsp;&nbsp;&nbsp; USD66 | &nbsp;&nbsp; 52078 |
| &nbsp;&nbsp;&nbsp; 4.60%, 06/15/43 | &nbsp;&nbsp;&nbsp; USD8 | &nbsp;&nbsp; 6745 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Electric (continued)** | **Electric (continued)** | **Electric (continued)** |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/15/44 | &nbsp;&nbsp;&nbsp; USD51 | &nbsp;&nbsp; $43541 |
| &nbsp;&nbsp;&nbsp; 4.95%, 07/01/50 | &nbsp;&nbsp;&nbsp; USD111 | &nbsp;&nbsp; 95542 |
| &nbsp;&nbsp;&nbsp; 5.25%, 03/01/52 | &nbsp;&nbsp;&nbsp; USD52 | &nbsp;&nbsp; 46072 |
| &nbsp;&nbsp;&nbsp; 5.90%, 10/01/54 | &nbsp;&nbsp;&nbsp; USD157 | &nbsp;&nbsp; 152845 |
| &nbsp;&nbsp;&nbsp; 6.10%, 10/15/55 | &nbsp;&nbsp;&nbsp; USD99 | &nbsp;&nbsp; 98926 |
| &nbsp;&nbsp;&nbsp; 6.15%, 01/15/33 | &nbsp;&nbsp;&nbsp; USD72 | &nbsp;&nbsp; 76421 |
| &nbsp;&nbsp;&nbsp; 6.15%, 03/01/55 | &nbsp;&nbsp;&nbsp; USD172 | &nbsp;&nbsp; 173165 |
| &nbsp;&nbsp;&nbsp; 6.40%, 06/15/33 | &nbsp;&nbsp;&nbsp; USD82 | &nbsp;&nbsp; 88234 |
| &nbsp;&nbsp;&nbsp; 6.75%, 01/15/53 | &nbsp;&nbsp;&nbsp; USD365 | &nbsp;&nbsp; 394243 |
| PECO Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp; 2.85%, 09/15/51 | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 12921 |
| &nbsp;&nbsp;&nbsp; 3.70%, 09/15/47 | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 13324 |
| &nbsp;&nbsp;&nbsp; 3.90%, 03/01/48 | &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 7269 |
| &nbsp;&nbsp;&nbsp; 4.60%, 05/15/52 | &nbsp;&nbsp;&nbsp; USD9 | &nbsp;&nbsp; 7982 |
| &nbsp;&nbsp;&nbsp; 5.25%, 09/15/54 | &nbsp;&nbsp;&nbsp; USD64 | &nbsp;&nbsp; 62148 |
| PG&E Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/01/30<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; USD940 | &nbsp;&nbsp; 930229 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/15/55, (5-year CMT + 3.88%)<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; USD510 | &nbsp;&nbsp; 524548 |
| Pinnacle West Capital Corp., 5.15%, 05/15/30 | &nbsp;&nbsp;&nbsp; USD224 | &nbsp;&nbsp; 230830 |
| Southern Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 07/01/36 | &nbsp;&nbsp;&nbsp; USD91 | &nbsp;&nbsp; 85007 |
| &nbsp;&nbsp;&nbsp; 4.85%, 03/15/35 | &nbsp;&nbsp;&nbsp; USD61 | &nbsp;&nbsp; 60398 |
| &nbsp;&nbsp;&nbsp; 5.70%, 10/15/32 | &nbsp;&nbsp;&nbsp; USD65 | &nbsp;&nbsp; 68894 |
| &nbsp;&nbsp;&nbsp; Star Energy Geothermal Wayang Windu Ltd., <br> 6.75%, 04/24/33<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD128 | &nbsp;&nbsp; 131723 |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.60%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD55 | &nbsp;&nbsp; 54646 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/31/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 16009 |
| &nbsp;&nbsp;&nbsp; 5.05%, 12/30/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD788 | &nbsp;&nbsp; 793413 |
| &nbsp;&nbsp;&nbsp; 5.70%, 12/30/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD485 | &nbsp;&nbsp; 498166 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD136 | &nbsp;&nbsp; 142654 |
| &nbsp;&nbsp;&nbsp; 6.95%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD271 | &nbsp;&nbsp; 301435 |
| &nbsp;&nbsp;&nbsp; 7.75%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 106123 |
| VoltaGrid LLC, 7.38%, 11/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD49 | &nbsp;&nbsp; 49836 |
| &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP, <br> 8.38%, 01/15/31<sup>(a)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 104628 |
|  |  | &nbsp;&nbsp; 11649111 |
| **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** | **Electrical Components & Equipment — 0.0%** |
| Energizer Holdings Inc., 4.38%, 03/31/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 17277 |
| **Electronics — 0.0%** | **Electronics — 0.0%** | **Electronics — 0.0%** |
| Sensata Technologies Inc., 4.38%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24107 |
| **Energy - Alternate Sources — 0.1%** | **Energy - Alternate Sources — 0.1%** | **Energy - Alternate Sources — 0.1%** |
| ReNew Pvt Ltd., 5.88%, 03/05/27<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 199605 |
| **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** | **Engineering & Construction — 0.1%** |
| &nbsp;&nbsp;&nbsp; IRB Infrastructure Developers Ltd., 7.11%, <br> 03/11/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 208060 |
| **Entertainment — 0.5%** | **Entertainment — 0.5%** | **Entertainment — 0.5%** |
| &nbsp;&nbsp;&nbsp; Caesars Entertainment Inc., 4.63%, <br> 10/15/29<sup>(a)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 10349 |
| Churchill Downs Inc., 6.75%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24539 |
| Live Nation Entertainment Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 01/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24394 |
| &nbsp;&nbsp;&nbsp; 4.75%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11961 |
| &nbsp;&nbsp;&nbsp; Midwest Gaming Borrower LLC/Midwest <br> Gaming Finance Corp., 4.88%, 05/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 10677 |
| &nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority/MS Digital <br> Entertainment Holdings LLC, 11.88%, <br> 04/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 104343 |
| Warnermedia Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.76%, 03/15/27 | &nbsp;&nbsp;&nbsp; USD1,313 | &nbsp;&nbsp; 1299791 |
| &nbsp;&nbsp;&nbsp; 5.14%, 03/15/52 | &nbsp;&nbsp;&nbsp; USD3 | &nbsp;&nbsp; 2280 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment (continued)** | **Entertainment (continued)** | **Entertainment (continued)** |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts <br> Capital Corp., 5.13%, 10/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; $15995 |
|  |  | &nbsp;&nbsp; 1504329 |
| **Environmental Control — 0.0%** | **Environmental Control — 0.0%** | **Environmental Control — 0.0%** |
| GFL Environmental Inc., 4.00%, 08/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 48913 |
| Reworld Holding Corp., 4.88%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD28 | &nbsp;&nbsp; 26310 |
|  |  | &nbsp;&nbsp; 75223 |
| **Food — 0.0%** | **Food — 0.0%** | **Food — 0.0%** |
| &nbsp;&nbsp;&nbsp; Albertsons Companies Inc./Safeway Inc./New <br> Albertsons LP/Albertsons LLC, 3.50%, <br> 03/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 47653 |
| Pilgrim's Pride Corp., 4.25%, 04/15/31 | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 17422 |
| Post Holdings Inc., 4.63%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 5817 |
|  |  | &nbsp;&nbsp; 70892 |
| **Food Service — 0.0%** | **Food Service — 0.0%** | **Food Service — 0.0%** |
| TKC Holdings Inc., 10.50%, 05/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD45 | &nbsp;&nbsp; 46277 |
| **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** | **Forest Products & Paper — 0.1%** |
| Suzano Austria GmbH, 3.13%, 01/15/32 | &nbsp;&nbsp;&nbsp; USD229 | &nbsp;&nbsp; 205173 |
| **Gas — 0.0%** | **Gas — 0.0%** | **Gas — 0.0%** |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP/AmeriGas Finance <br> Corp., 9.38%, 06/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 6224 |
| **Health Care - Products — 0.1%** | **Health Care - Products — 0.1%** | **Health Care - Products — 0.1%** |
| Bausch & Lomb Corp., 8.38%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD19 | &nbsp;&nbsp; 19855 |
| Medline Borrower LP |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 04/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD27 | &nbsp;&nbsp; 26225 |
| &nbsp;&nbsp;&nbsp; 5.25%, 10/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 49810 |
| Solventum Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.40%, 03/01/29 | &nbsp;&nbsp;&nbsp; USD78 | &nbsp;&nbsp; 80670 |
| &nbsp;&nbsp;&nbsp; 5.60%, 03/23/34 | &nbsp;&nbsp;&nbsp; USD137 | &nbsp;&nbsp; 142484 |
|  |  | &nbsp;&nbsp; 319044 |
| **Health Care - Services — 0.7%** | **Health Care - Services — 0.7%** | **Health Care - Services — 0.7%** |
| Centene Corp., 4.25%, 12/15/27 | &nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp; 36467 |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International Inc., <br> 3.75%, 03/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 5752 |
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., 10.88%, <br> 01/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 107803 |
| Elevance Health Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 05/15/50 | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 26656 |
| &nbsp;&nbsp;&nbsp; 3.60%, 03/15/51 | &nbsp;&nbsp;&nbsp; USD63 | &nbsp;&nbsp; 45442 |
| &nbsp;&nbsp;&nbsp; 5.65%, 06/15/54 | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22654 |
| &nbsp;&nbsp;&nbsp; 5.70%, 02/15/55 | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 19767 |
| &nbsp;&nbsp;&nbsp; 6.10%, 10/15/52 | &nbsp;&nbsp;&nbsp; USD2 | &nbsp;&nbsp; 2091 |
| Encompass Health Corp., 4.75%, 02/01/30 | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24737 |
| HCA Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 07/15/51 | &nbsp;&nbsp;&nbsp; USD94 | &nbsp;&nbsp; 65107 |
| &nbsp;&nbsp;&nbsp; 4.60%, 11/15/32 | &nbsp;&nbsp;&nbsp; USD315 | &nbsp;&nbsp; 313044 |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/15/52 | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 14938 |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/15/39 | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22367 |
| &nbsp;&nbsp;&nbsp; 5.45%, 04/01/31 | &nbsp;&nbsp;&nbsp; USD155 | &nbsp;&nbsp; 161323 |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/01/32 | &nbsp;&nbsp;&nbsp; USD49 | &nbsp;&nbsp; 51138 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/15/47 | &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 5763 |
| &nbsp;&nbsp;&nbsp; 5.60%, 04/01/34 | &nbsp;&nbsp;&nbsp; USD92 | &nbsp;&nbsp; 95768 |
| &nbsp;&nbsp;&nbsp; 5.75%, 03/01/35 | &nbsp;&nbsp;&nbsp; USD378 | &nbsp;&nbsp; 396581 |
| &nbsp;&nbsp;&nbsp; 5.88%, 02/01/29 | &nbsp;&nbsp;&nbsp; USD32 | &nbsp;&nbsp; 33328 |
| &nbsp;&nbsp;&nbsp; 5.90%, 06/01/53 | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 9955 |
| &nbsp;&nbsp;&nbsp; 6.10%, 04/01/64 | &nbsp;&nbsp;&nbsp; USD83 | &nbsp;&nbsp; 83902 |
| &nbsp;&nbsp;&nbsp; 6.20%, 03/01/55 | &nbsp;&nbsp;&nbsp; USD121 | &nbsp;&nbsp; 125644 |
| IQVIA Inc., 6.25%, 06/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 104227 |
| LifePoint Health Inc., 11.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 55130 |
| Molina Healthcare Inc., 4.38%, 06/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 15584 |
| Select Medical Corp., 6.25%, 12/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 7101 |
| &nbsp;&nbsp;&nbsp; Team Health Holdings Inc., 13.50%, 06/30/28, <br> (9.00 % cashAnd 4.50 % in PIK)<sup>(a)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 107875 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Health Care - Services (continued)** | **Health Care - Services (continued)** | **Health Care - Services (continued)** |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 06/01/29 | &nbsp;&nbsp;&nbsp; USD104 | &nbsp;&nbsp; $101678 |
| &nbsp;&nbsp;&nbsp; 4.63%, 06/15/28 | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 15936 |
|  |  | &nbsp;&nbsp; 2077758 |
| **Home Builders — 0.0%** | **Home Builders — 0.0%** | **Home Builders — 0.0%** |
| &nbsp;&nbsp;&nbsp; Ashton Woods USA LLC/Ashton Woods <br> Finance Co.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD3 | &nbsp;&nbsp; 2836 |
| &nbsp;&nbsp;&nbsp; 4.63%, 04/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 9414 |
| &nbsp;&nbsp;&nbsp; 6.88%, 08/01/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 7006 |
| Beazer Homes USA Inc., 7.25%, 10/15/29 | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 18253 |
| &nbsp;&nbsp;&nbsp; Brookfield Residential Properties Inc./Brookfield <br> Residential U.S. LLC<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 02/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11086 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 5755 |
| Forestar Group Inc., 5.00%, 03/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 10975 |
| LGI Homes Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 11/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 14395 |
| &nbsp;&nbsp;&nbsp; 8.75%, 12/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 13520 |
| Mattamy Group Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 14551 |
| &nbsp;&nbsp;&nbsp; 5.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 17930 |
| STL Holding Co. LLC, 8.75%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10485 |
| &nbsp;&nbsp;&nbsp; Taylor Morrison Communities Inc., 5.75%, <br> 01/15/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 15219 |
|  |  | &nbsp;&nbsp; 151425 |
| **Housewares — 0.0%** | **Housewares — 0.0%** | **Housewares — 0.0%** |
| Newell Brands Inc., 6.63%, 09/15/29 | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24449 |
| Scotts Miracle-Gro Co. (The), 4.38%, 02/01/32 | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 23111 |
|  |  | &nbsp;&nbsp; 47560 |
| **Insurance — 0.1%** | **Insurance — 0.1%** | **Insurance — 0.1%** |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant <br> Holdings Co-Issuer<br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 51787 |
| &nbsp;&nbsp;&nbsp; 7.38%, 10/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 103180 |
|  |  | &nbsp;&nbsp; 154967 |
| **Internet — 1.2%** | **Internet — 1.2%** | **Internet — 1.2%** |
| AppLovin Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 12/01/29 | &nbsp;&nbsp;&nbsp; USD313 | &nbsp;&nbsp; 319489 |
| &nbsp;&nbsp;&nbsp; 5.38%, 12/01/31 | &nbsp;&nbsp;&nbsp; USD661 | &nbsp;&nbsp; 682231 |
| &nbsp;&nbsp;&nbsp; 5.95%, 12/01/54 | &nbsp;&nbsp;&nbsp; USD276 | &nbsp;&nbsp; 276533 |
| Beignet Investor LLC, 6.58%, 05/30/49<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD977 | &nbsp;&nbsp; 1042173 |
| &nbsp;&nbsp;&nbsp; Match Group Holdings II LLC, 4.63%, <br> 06/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 25625 |
| Meta Platforms Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.65%, 08/15/62 | &nbsp;&nbsp;&nbsp; USD221 | &nbsp;&nbsp; 183880 |
| &nbsp;&nbsp;&nbsp; 5.55%, 08/15/64 | &nbsp;&nbsp;&nbsp; USD125 | &nbsp;&nbsp; 121036 |
| &nbsp;&nbsp;&nbsp; 5.75%, 05/15/63 | &nbsp;&nbsp;&nbsp; USD35 | &nbsp;&nbsp; 34893 |
| Prosus NV, 4.19%, 01/19/32<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD413 | &nbsp;&nbsp; 397257 |
| Rakuten Group Inc., 9.75%, 04/15/29<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 224326 |
|  |  | &nbsp;&nbsp; 3307443 |
| **Iron & Steel — 0.2%** | **Iron & Steel — 0.2%** | **Iron & Steel — 0.2%** |
| Cleveland-Cliffs Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/15/32<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 51125 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 24077 |
| Mineral Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD116 | &nbsp;&nbsp; 118473 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/01/30<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD104 | &nbsp;&nbsp; 108423 |
| &nbsp;&nbsp;&nbsp; 9.25%, 10/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 24116 |
| Vale Overseas Ltd., 6.40%, 06/28/54 | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 208300 |
|  |  | &nbsp;&nbsp; 534514 |
| **Leisure Time — 0.0%** | **Leisure Time — 0.0%** | **Leisure Time — 0.0%** |
| Carnival Corp., 5.75%, 08/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11300 |
| Royal Caribbean Cruises Ltd., 5.38%, 01/15/36 | &nbsp;&nbsp;&nbsp; USD65 | &nbsp;&nbsp; 65440 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Leisure Time (continued)** | **Leisure Time (continued)** | **Leisure Time (continued)** |
| Viking Cruises Ltd., 7.00%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; $24136 |
|  |  | &nbsp;&nbsp; 100876 |
| **Lodging — 0.4%** | **Lodging — 0.4%** | **Lodging — 0.4%** |
| Boyd Gaming Corp., 4.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22146 |
| Full House Resorts Inc., 8.25%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 4439 |
| Hilton Domestic Operating Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 02/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 23032 |
| &nbsp;&nbsp;&nbsp; 4.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 23758 |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Borrower <br> Escrow LLC/Hilton Grand Vacations <br> Borrower Esc, 4.88%, 07/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 16642 |
| Melco Resorts Finance Ltd., 5.75%, 07/21/28<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD400 | &nbsp;&nbsp; 399400 |
| MGM China Holdings Ltd., 7.13%, 06/26/31<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 211624 |
| MGM Resorts International, 4.75%, 10/15/28<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 15893 |
| Station Casinos LLC, 4.50%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24608 |
| Studio City Finance Ltd., 5.00%, 01/15/29<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 191380 |
| Wynn Macau Ltd., 5.63%, 08/26/28<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 199700 |
|  |  | &nbsp;&nbsp; 1132622 |
| **Manufacturing — 0.0%** | **Manufacturing — 0.0%** | **Manufacturing — 0.0%** |
| Entegris Inc., 4.38%, 04/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11800 |
| Textron Inc., 3.38%, 03/01/28 | &nbsp;&nbsp;&nbsp; USD46 | &nbsp;&nbsp; 45088 |
|  |  | &nbsp;&nbsp; 56888 |
| **Media — 1.3%** | **Media — 1.3%** | **Media — 1.3%** |
| AMC Networks Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/15/29 | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 19779 |
| &nbsp;&nbsp;&nbsp; 10.25%, 01/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 31495 |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD35 | &nbsp;&nbsp; 31679 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/34<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD172 | &nbsp;&nbsp; 144432 |
| &nbsp;&nbsp;&nbsp; 4.50%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 93741 |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/01/32 | &nbsp;&nbsp;&nbsp; USD68 | &nbsp;&nbsp; 60480 |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2 | &nbsp;&nbsp; 1811 |
| &nbsp;&nbsp;&nbsp; Charter Communications <br> Operating LLC/Charter Communications <br> Operating Capital<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/01/42 | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 4955 |
| &nbsp;&nbsp;&nbsp; 3.70%, 04/01/51 | &nbsp;&nbsp;&nbsp; USD91 | &nbsp;&nbsp; 59483 |
| &nbsp;&nbsp;&nbsp; 3.85%, 04/01/61 | &nbsp;&nbsp;&nbsp; USD170 | &nbsp;&nbsp; 104638 |
| &nbsp;&nbsp;&nbsp; 3.90%, 06/01/52 | &nbsp;&nbsp;&nbsp; USD133 | &nbsp;&nbsp; 87285 |
| &nbsp;&nbsp;&nbsp; 3.95%, 06/30/62 | &nbsp;&nbsp;&nbsp; USD148 | &nbsp;&nbsp; 91644 |
| &nbsp;&nbsp;&nbsp; 4.40%, 12/01/61 | &nbsp;&nbsp;&nbsp; USD316 | &nbsp;&nbsp; 214072 |
| &nbsp;&nbsp;&nbsp; 4.80%, 03/01/50 | &nbsp;&nbsp;&nbsp; USD101 | &nbsp;&nbsp; 79039 |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/01/53<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; USD127 | &nbsp;&nbsp; 103394 |
| &nbsp;&nbsp;&nbsp; 5.38%, 05/01/47 | &nbsp;&nbsp;&nbsp; USD56 | &nbsp;&nbsp; 47513 |
| &nbsp;&nbsp;&nbsp; 5.50%, 04/01/63 | &nbsp;&nbsp;&nbsp; USD56 | &nbsp;&nbsp; 45501 |
| &nbsp;&nbsp;&nbsp; 5.75%, 04/01/48 | &nbsp;&nbsp;&nbsp; USD149 | &nbsp;&nbsp; 132153 |
| &nbsp;&nbsp;&nbsp; 5.85%, 12/01/35 | &nbsp;&nbsp;&nbsp; USD87 | &nbsp;&nbsp; 86765 |
| &nbsp;&nbsp;&nbsp; 6.38%, 10/23/35 | &nbsp;&nbsp;&nbsp; USD44 | &nbsp;&nbsp; 45577 |
| &nbsp;&nbsp;&nbsp; 6.55%, 06/01/34 | &nbsp;&nbsp;&nbsp; USD55 | &nbsp;&nbsp; 57883 |
| &nbsp;&nbsp;&nbsp; 6.65%, 02/01/34 | &nbsp;&nbsp;&nbsp; USD211 | &nbsp;&nbsp; 223033 |
| &nbsp;&nbsp;&nbsp; 6.83%, 10/23/55 | &nbsp;&nbsp;&nbsp; USD72 | &nbsp;&nbsp; 71600 |
| Comcast Corp., 2.99%, 11/01/63 | &nbsp;&nbsp;&nbsp; USD163 | &nbsp;&nbsp; 90827 |
| Directv Financing LLC, 8.88%, 02/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 13917 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC/Directv Financing <br> Co-Obligor Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 08/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 13001 |
| &nbsp;&nbsp;&nbsp; 10.00%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99588 |
| Discovery Communications LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/15/30 | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 92550 |
| &nbsp;&nbsp;&nbsp; 3.95%, 03/20/28 | &nbsp;&nbsp;&nbsp; USD503 | &nbsp;&nbsp; 492865 |
| Gray Television Inc., 10.50%, 07/15/29<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 26941 |
| iHeartCommunications Inc., 9.13%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 92010 |
| Nexstar Media Inc., 4.75%, 11/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 25591 |
| Paramount Global |  |  |
| &nbsp;&nbsp;&nbsp; 2.90%, 01/15/27 | &nbsp;&nbsp;&nbsp; USD155 | &nbsp;&nbsp; 152247 |
| &nbsp;&nbsp;&nbsp; 3.38%, 02/15/28 | &nbsp;&nbsp;&nbsp; USD141 | &nbsp;&nbsp; 137472 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| &nbsp;&nbsp;&nbsp; 3.70%, 10/04/26 | &nbsp;&nbsp;&nbsp; USD66 | &nbsp;&nbsp; $64947 |
| &nbsp;&nbsp;&nbsp; 4.38%, 03/15/43 | &nbsp;&nbsp;&nbsp; USD33 | &nbsp;&nbsp; 24992 |
| &nbsp;&nbsp;&nbsp; 4.60%, 01/15/45 | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 19000 |
| &nbsp;&nbsp;&nbsp; 4.90%, 08/15/44 | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 3952 |
| &nbsp;&nbsp;&nbsp; 4.95%, 01/15/31 | &nbsp;&nbsp;&nbsp; USD130 | &nbsp;&nbsp; 127476 |
| &nbsp;&nbsp;&nbsp; 5.85%, 09/01/43 | &nbsp;&nbsp;&nbsp; USD75 | &nbsp;&nbsp; 67396 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.25%, 02/28/57, (3-mo. SOFR US + <br> 4.16%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 98000 |
| Sirius XM Radio LLC, 3.88%, 09/01/31<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 90729 |
| &nbsp;&nbsp;&nbsp; Univision Communications Inc., 9.38%, <br> 08/01/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 105557 |
| Versant Media Group Inc., 7.25%, 01/30/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 6116 |
|  |  | &nbsp;&nbsp; 3683126 |
| **Mining — 0.3%** | **Mining — 0.3%** | **Mining — 0.3%** |
| &nbsp;&nbsp;&nbsp; Corp. Nacional del Cobre de Chile, 6.44%, <br> 01/26/36<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 217675 |
| &nbsp;&nbsp;&nbsp; Fortescue Treasury Pty Ltd., 4.50%, <br> 09/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 15936 |
| &nbsp;&nbsp;&nbsp; Glencore Capital Finance DAC, 3.67%, <br> 10/06/32<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; EUR200 | &nbsp;&nbsp; 231670 |
| Glencore Funding LLC |  |  |
| &nbsp;&nbsp;&nbsp; 2.63%, 09/23/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 13474 |
| &nbsp;&nbsp;&nbsp; 2.85%, 04/27/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD121 | &nbsp;&nbsp; 111097 |
| &nbsp;&nbsp;&nbsp; 4.88%, 03/12/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD146 | &nbsp;&nbsp; 148332 |
|  |  | &nbsp;&nbsp; 738184 |
| **Office & Business Equipment — 0.0%** | **Office & Business Equipment — 0.0%** | **Office & Business Equipment — 0.0%** |
| Xerox Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 10.25%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25561 |
| &nbsp;&nbsp;&nbsp; 13.50%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 6770 |
|  |  | &nbsp;&nbsp; 32331 |
| **Oil & Gas — 5.1%** | **Oil & Gas — 5.1%** | **Oil & Gas — 5.1%** |
| Antero Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.38%, 03/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD557 | &nbsp;&nbsp; 560829 |
| &nbsp;&nbsp;&nbsp; 7.63%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20360 |
| APA Corp., Series ., 5.25%, 02/01/42 | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 4064 |
| BP Capital Markets America Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.89%, 09/11/33 | &nbsp;&nbsp;&nbsp; USD187 | &nbsp;&nbsp; 190288 |
| &nbsp;&nbsp;&nbsp; 5.23%, 11/17/34 | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20691 |
| California Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 13938 |
| &nbsp;&nbsp;&nbsp; 8.25%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4 | &nbsp;&nbsp; 4161 |
| Civitas Resources Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/15/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 30846 |
| &nbsp;&nbsp;&nbsp; 8.38%, 07/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 15498 |
| &nbsp;&nbsp;&nbsp; 8.63%, 11/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD4 | &nbsp;&nbsp; 4135 |
| CNX Resources Corp., 7.25%, 03/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD72 | &nbsp;&nbsp; 75070 |
| Comstock Resources Inc. 6.75%, 03/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 39634 |
| &nbsp;&nbsp;&nbsp; Crescent Energy Finance LLC, 7.38%, <br> 01/15/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD54 | &nbsp;&nbsp; 51002 |
| Diamondback Energy Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 03/24/31 | &nbsp;&nbsp;&nbsp; USD277 | &nbsp;&nbsp; 257498 |
| &nbsp;&nbsp;&nbsp; 3.25%, 12/01/26 | &nbsp;&nbsp;&nbsp; USD501 | &nbsp;&nbsp; 496435 |
| &nbsp;&nbsp;&nbsp; 3.50%, 12/01/29 | &nbsp;&nbsp;&nbsp; USD486 | &nbsp;&nbsp; 469281 |
| &nbsp;&nbsp;&nbsp; 4.25%, 03/15/52 | &nbsp;&nbsp;&nbsp; USD211 | &nbsp;&nbsp; 166219 |
| &nbsp;&nbsp;&nbsp; 5.15%, 01/30/30 | &nbsp;&nbsp;&nbsp; USD264 | &nbsp;&nbsp; 270911 |
| &nbsp;&nbsp;&nbsp; 5.20%, 04/18/27 | &nbsp;&nbsp;&nbsp; USD230 | &nbsp;&nbsp; 233148 |
| EQT Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.13%, 05/15/26<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 30716 |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD493 | &nbsp;&nbsp; 461390 |
| &nbsp;&nbsp;&nbsp; 3.90%, 10/01/27 | &nbsp;&nbsp;&nbsp; USD446 | &nbsp;&nbsp; 442643 |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/15/29 | &nbsp;&nbsp;&nbsp; USD534 | &nbsp;&nbsp; 534098 |
| &nbsp;&nbsp;&nbsp; 4.75%, 01/15/31 | &nbsp;&nbsp;&nbsp; USD2,765 | &nbsp;&nbsp; 2767539 |
| &nbsp;&nbsp;&nbsp; 5.00%, 01/15/29 | &nbsp;&nbsp;&nbsp; USD198 | &nbsp;&nbsp; 200402 |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/15/28 | &nbsp;&nbsp;&nbsp; USD278 | &nbsp;&nbsp; 279570 |
| &nbsp;&nbsp;&nbsp; 5.70%, 04/01/28 | &nbsp;&nbsp;&nbsp; USD75 | &nbsp;&nbsp; 77451 |
| &nbsp;&nbsp;&nbsp; 5.75%, 02/01/34 | &nbsp;&nbsp;&nbsp; USD256 | &nbsp;&nbsp; 267966 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| &nbsp;&nbsp;&nbsp; 6.38%, 04/01/29 | &nbsp;&nbsp;&nbsp; USD183 | &nbsp;&nbsp; $189102 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/01/27 | &nbsp;&nbsp;&nbsp; USD108 | &nbsp;&nbsp; 110536 |
| &nbsp;&nbsp;&nbsp; 7.00%, 02/01/30 | &nbsp;&nbsp;&nbsp; USD717 | &nbsp;&nbsp; 778163 |
| &nbsp;&nbsp;&nbsp; 7.50%, 06/01/27 | &nbsp;&nbsp;&nbsp; USD94 | &nbsp;&nbsp; 95606 |
| &nbsp;&nbsp;&nbsp; 7.50%, 06/01/30 | &nbsp;&nbsp;&nbsp; USD493 | &nbsp;&nbsp; 543130 |
| Expand Energy Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 02/01/32 | &nbsp;&nbsp;&nbsp; USD275 | &nbsp;&nbsp; 269962 |
| &nbsp;&nbsp;&nbsp; 5.38%, 02/01/29 | &nbsp;&nbsp;&nbsp; USD382 | &nbsp;&nbsp; 382159 |
| &nbsp;&nbsp;&nbsp; 5.38%, 03/15/30 | &nbsp;&nbsp;&nbsp; USD113 | &nbsp;&nbsp; 114666 |
| &nbsp;&nbsp;&nbsp; 5.70%, 01/15/35 | &nbsp;&nbsp;&nbsp; USD816 | &nbsp;&nbsp; 839991 |
| &nbsp;&nbsp;&nbsp; 5.88%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD38 | &nbsp;&nbsp; 38092 |
| &nbsp;&nbsp;&nbsp; 6.75%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD143 | &nbsp;&nbsp; 144168 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp Finance Co., <br> 6.00%, 02/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 15149 |
| KazMunayGas National Co. JSC |  |  |
| &nbsp;&nbsp;&nbsp; 6.38%, 10/24/48<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 201270 |
| &nbsp;&nbsp;&nbsp; 6.38%, 10/24/48<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 201270 |
| Matador Resources Co., 6.50%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 50461 |
| &nbsp;&nbsp;&nbsp; Medco Cypress Tree Pte Ltd., 8.63%, <br> 05/19/30<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD250 | &nbsp;&nbsp; 264812 |
| Medco Laurel Tree Pte Ltd., 6.95%, 11/12/28<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 201650 |
| Northern Oil & Gas Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 10714 |
| &nbsp;&nbsp;&nbsp; 8.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25480 |
| ORLEN SA, 6.00%, 01/30/35<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 210500 |
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, 8.00%, <br> 04/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 40551 |
| Petroleos Mexicanos, 7.50%, 03/20/26 | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 199000 |
| Raizen Fuels Finance SA, 6.25%, 07/08/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD203 | &nbsp;&nbsp; 173205 |
| Repsol E&P Capital Markets U.S. LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.81%, 09/16/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 200476 |
| &nbsp;&nbsp;&nbsp; 5.98%, 09/16/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 203511 |
| SM Energy Co. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 01/15/27 | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 15010 |
| &nbsp;&nbsp;&nbsp; 6.75%, 08/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 99791 |
| Sunoco LP |  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 51974 |
| &nbsp;&nbsp;&nbsp; 7.88%, , (5-year CMT + 4.23%)<sup>(a)(b)(h)</sup> | &nbsp;&nbsp;&nbsp; USD14 | &nbsp;&nbsp; 14217 |
| &nbsp;&nbsp;&nbsp; Transocean International Ltd., 8.25%, <br> 05/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 13076 |
| &nbsp;&nbsp;&nbsp; Transocean Titan Financing Ltd., 8.38%, <br> 02/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 4991 |
| Viper Energy Partners LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.90%, 08/01/30 | &nbsp;&nbsp;&nbsp; USD243 | &nbsp;&nbsp; 244699 |
| &nbsp;&nbsp;&nbsp; 5.70%, 08/01/35 | &nbsp;&nbsp;&nbsp; USD313 | &nbsp;&nbsp; 319146 |
| Vital Energy Inc., 9.75%, 10/15/30<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25704 |
| Vnom Sub, Inc., 5.38%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD298 | &nbsp;&nbsp; 298000 |
|  |  | &nbsp;&nbsp; 14576015 |
| **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** | **Oil & Gas Services — 0.0%** |
| &nbsp;&nbsp;&nbsp; Archrock Partners LP/Archrock Partners <br> Finance Corp., 6.25%, 04/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD11 | &nbsp;&nbsp; 11047 |
| &nbsp;&nbsp;&nbsp; USA Compression Partners LP/USA <br> Compression Finance Corp., 6.25%, <br> 10/01/33<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 5019 |
| &nbsp;&nbsp;&nbsp; Weatherford International Ltd., 8.63%, <br> 04/30/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD36 | &nbsp;&nbsp; 36713 |
|  |  | &nbsp;&nbsp; 52779 |
| **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** | **Packaging & Containers — 0.1%** |
| Ball Corp., 2.88%, 08/15/30 | &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 5486 |
| Clydesdale Acquisition Holdings Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.63%, 04/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 50200 |
| &nbsp;&nbsp;&nbsp; 8.75%, 04/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 7014 |
| Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD35 | &nbsp;&nbsp; 35092 |
| &nbsp;&nbsp;&nbsp; 9.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD37 | &nbsp;&nbsp; 36534 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Packaging & Containers (continued)** | **Packaging & Containers (continued)** | **Packaging & Containers (continued)** |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container Inc., 7.25%, <br> 05/15/31<sup>(a)(d)</sup><br>| &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; $23520 |
|  |  | &nbsp;&nbsp; 157846 |
| **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** | **Pharmaceuticals — 0.1%** |
| AbbVie Inc., 5.60%, 03/15/55 | &nbsp;&nbsp;&nbsp; USD94 | &nbsp;&nbsp; 96383 |
| Becton Dickinson & Co., 5.08%, 06/07/29 | &nbsp;&nbsp;&nbsp; USD53 | &nbsp;&nbsp; 54408 |
| CVS Health Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.05%, 03/25/48 | &nbsp;&nbsp;&nbsp; USD122 | &nbsp;&nbsp; 109085 |
| &nbsp;&nbsp;&nbsp; 5.13%, 07/20/45 | &nbsp;&nbsp;&nbsp; USD30 | &nbsp;&nbsp; 27264 |
| &nbsp;&nbsp;&nbsp; 5.30%, 12/05/43 | &nbsp;&nbsp;&nbsp; USD51 | &nbsp;&nbsp; 48137 |
| Pfizer Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.70%, 05/28/50 | &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 16603 |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/15/36 | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 31796 |
| &nbsp;&nbsp;&nbsp; Pfizer Investment Enterprises Pte Ltd., 4.75%, <br> 05/19/33<br>| &nbsp;&nbsp;&nbsp; USD29 | &nbsp;&nbsp; 29351 |
|  |  | &nbsp;&nbsp; 413027 |
| **Pipelines — 1.8%** | **Pipelines — 1.8%** | **Pipelines — 1.8%** |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero <br> Midstream Finance Corp., 5.38%, <br> 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 5996 |
| Cameron LNG LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.30%, 01/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 87793 |
| &nbsp;&nbsp;&nbsp; 3.40%, 01/15/38<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD226 | &nbsp;&nbsp; 197530 |
| Cheniere Corpus Christi Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 2.74%, 12/31/39 | &nbsp;&nbsp;&nbsp; USD220 | &nbsp;&nbsp; 185381 |
| &nbsp;&nbsp;&nbsp; 3.70%, 11/15/29 | &nbsp;&nbsp;&nbsp; USD262 | &nbsp;&nbsp; 255064 |
| &nbsp;&nbsp;&nbsp; 5.13%, 06/30/27 | &nbsp;&nbsp;&nbsp; USD112 | &nbsp;&nbsp; 113146 |
| Cheniere Energy Inc., 5.65%, 04/15/34 | &nbsp;&nbsp;&nbsp; USD658 | &nbsp;&nbsp; 680567 |
| Cheniere Energy Partners LP |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%, 01/31/32 | &nbsp;&nbsp;&nbsp; USD261 | &nbsp;&nbsp; 238438 |
| &nbsp;&nbsp;&nbsp; 4.00%, 03/01/31 | &nbsp;&nbsp;&nbsp; USD203 | &nbsp;&nbsp; 196001 |
| &nbsp;&nbsp;&nbsp; 5.55%, 10/30/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 34794 |
| &nbsp;&nbsp;&nbsp; 5.75%, 08/15/34 | &nbsp;&nbsp;&nbsp; USD161 | &nbsp;&nbsp; 167348 |
| DT Midstream Inc., 4.13%, 06/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 16637 |
| Energy Transfer LP |  |  |
| &nbsp;&nbsp;&nbsp; 5.40%, 10/01/47 | &nbsp;&nbsp;&nbsp; USD57 | &nbsp;&nbsp; 51555 |
| &nbsp;&nbsp;&nbsp; 5.95%, 05/15/54 | &nbsp;&nbsp;&nbsp; USD136 | &nbsp;&nbsp; 131275 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD291 | &nbsp;&nbsp; 294640 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/15/48 | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 4880 |
| &nbsp;&nbsp;&nbsp; 6.20%, 04/01/55 | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 33914 |
| &nbsp;&nbsp;&nbsp; 7.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD137 | &nbsp;&nbsp; 142718 |
| &nbsp;&nbsp;&nbsp; Genesis Energy LP/Genesis Energy Finance <br> Corp., 8.00%, 05/15/33<br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 103281 |
| &nbsp;&nbsp;&nbsp; Global Partners LP/GLP Finance Corp., 8.25%, <br> 01/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 26136 |
| &nbsp;&nbsp;&nbsp; Greensaif Pipelines Bidco Sarl, 5.85%, <br> 02/23/36<sup>(e)</sup><br>| &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 210275 |
| &nbsp;&nbsp;&nbsp; Hess Midstream Operations LP, 4.25%, <br> 02/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 48699 |
| NuStar Logistics LP, 6.38%, 10/01/30 | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 52073 |
| ONEOK Inc., 6.50%, 09/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 5349 |
| &nbsp;&nbsp;&nbsp; Rockies Express Pipeline LLC, 4.95%, <br> 07/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 5948 |
| Sabine Pass Liquefaction LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/15/30 | &nbsp;&nbsp;&nbsp; USD560 | &nbsp;&nbsp; 561987 |
| &nbsp;&nbsp;&nbsp; 5.00%, 03/15/27 | &nbsp;&nbsp;&nbsp; USD529 | &nbsp;&nbsp; 532047 |
| &nbsp;&nbsp;&nbsp; 5.88%, 06/30/26 | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 12028 |
| &nbsp;&nbsp;&nbsp; 5.90%, 09/15/37 | &nbsp;&nbsp;&nbsp; USD126 | &nbsp;&nbsp; 132421 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy <br> Finance Corp., 7.38%, 02/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 25737 |
| Targa Resources Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.20%, 02/01/33 | &nbsp;&nbsp;&nbsp; USD92 | &nbsp;&nbsp; 87594 |
| &nbsp;&nbsp;&nbsp; 6.15%, 03/01/29 | &nbsp;&nbsp;&nbsp; USD208 | &nbsp;&nbsp; 218935 |
| &nbsp;&nbsp;&nbsp; Venture Global Calcasieu Pass LLC, 3.88%, <br> 08/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 16104 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| Venture Global LNG Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 8.13%, 06/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; $23693 |
| &nbsp;&nbsp;&nbsp; 8.38%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD26 | &nbsp;&nbsp; 26693 |
| &nbsp;&nbsp;&nbsp; 9.00%, (5-year CMT + 5.44%)<sup>(a)(b)(h)</sup> | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 14020 |
| &nbsp;&nbsp;&nbsp; 9.88%, 02/01/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD105 | &nbsp;&nbsp; 112156 |
|  |  | &nbsp;&nbsp; 5052853 |
| **Real Estate — 0.0%** | **Real Estate — 0.0%** | **Real Estate — 0.0%** |
| &nbsp;&nbsp;&nbsp; Howard Hughes Corp. (The), 5.38%, <br> 08/01/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 39934 |
| **Real Estate Investment Trusts — 1.8%** | **Real Estate Investment Trusts — 1.8%** | **Real Estate Investment Trusts — 1.8%** |
| American Tower Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 2.10%, 06/15/30 | &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 13554 |
| &nbsp;&nbsp;&nbsp; 2.90%, 01/15/30 | &nbsp;&nbsp;&nbsp; USD101 | &nbsp;&nbsp; 95349 |
| &nbsp;&nbsp;&nbsp; 4.90%, 03/15/30 | &nbsp;&nbsp;&nbsp; USD261 | &nbsp;&nbsp; 266444 |
| &nbsp;&nbsp;&nbsp; 5.35%, 03/15/35 | &nbsp;&nbsp;&nbsp; USD353 | &nbsp;&nbsp; 362805 |
| Crown Castle Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 07/15/31 | &nbsp;&nbsp;&nbsp; USD18 | &nbsp;&nbsp; 16032 |
| &nbsp;&nbsp;&nbsp; 4.90%, 09/01/29 | &nbsp;&nbsp;&nbsp; USD41 | &nbsp;&nbsp; 41588 |
| &nbsp;&nbsp;&nbsp; 5.10%, 05/01/33 | &nbsp;&nbsp;&nbsp; USD35 | &nbsp;&nbsp; 35448 |
| &nbsp;&nbsp;&nbsp; Equinix Europe 2 Financing Corp. LLC, 5.50%, <br> 06/15/34<br>| &nbsp;&nbsp;&nbsp; USD206 | &nbsp;&nbsp; 213634 |
| Equinix Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 05/15/31 | &nbsp;&nbsp;&nbsp; USD235 | &nbsp;&nbsp; 212275 |
| &nbsp;&nbsp;&nbsp; 2.95%, 09/15/51 | &nbsp;&nbsp;&nbsp; USD85 | &nbsp;&nbsp; 54519 |
| &nbsp;&nbsp;&nbsp; 3.90%, 04/15/32 | &nbsp;&nbsp;&nbsp; USD264 | &nbsp;&nbsp; 253817 |
| Extra Space Storage LP |  |  |
| &nbsp;&nbsp;&nbsp; 2.20%, 10/15/30 | &nbsp;&nbsp;&nbsp; USD7 | &nbsp;&nbsp; 6274 |
| &nbsp;&nbsp;&nbsp; 3.90%, 04/01/29 | &nbsp;&nbsp;&nbsp; USD73 | &nbsp;&nbsp; 71971 |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/15/29 | &nbsp;&nbsp;&nbsp; USD31 | &nbsp;&nbsp; 30686 |
| &nbsp;&nbsp;&nbsp; 5.40%, 06/15/35 | &nbsp;&nbsp;&nbsp; USD38 | &nbsp;&nbsp; 38892 |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/01/30 | &nbsp;&nbsp;&nbsp; USD391 | &nbsp;&nbsp; 407587 |
| GLP Capital LP/GLP Financing II Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.25%, 01/15/32 | &nbsp;&nbsp;&nbsp; USD219 | &nbsp;&nbsp; 196571 |
| &nbsp;&nbsp;&nbsp; 4.00%, 01/15/30 | &nbsp;&nbsp;&nbsp; USD73 | &nbsp;&nbsp; 70714 |
| &nbsp;&nbsp;&nbsp; 4.00%, 01/15/31 | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 19129 |
| &nbsp;&nbsp;&nbsp; 5.25%, 02/15/33 | &nbsp;&nbsp;&nbsp; USD75 | &nbsp;&nbsp; 74955 |
| &nbsp;&nbsp;&nbsp; 5.30%, 01/15/29 | &nbsp;&nbsp;&nbsp; USD163 | &nbsp;&nbsp; 166092 |
| Iron Mountain Inc., 4.50%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 16306 |
| &nbsp;&nbsp;&nbsp; Park Intermediate Holdings LLC/PK Domestic <br> Property LLC/PK Finance Co-Issuer, 4.88%, <br> 05/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD15 | &nbsp;&nbsp; 14569 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP/RHP Finance Corp., <br> 4.50%, 02/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 98377 |
| SBA Communications Corp., 3.88%, 02/15/27 | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 98881 |
| Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp; 0.00%, 09/30/27<sup>(a)(i)</sup> | &nbsp;&nbsp;&nbsp; USD22 | &nbsp;&nbsp; 19394 |
| &nbsp;&nbsp;&nbsp; 5.50%, 12/15/27 | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 19480 |
| &nbsp;&nbsp;&nbsp; 8.38%, 06/15/29 | &nbsp;&nbsp;&nbsp; USD71 | &nbsp;&nbsp; 70529 |
| &nbsp;&nbsp;&nbsp; 8.88%, 06/15/32 | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 39475 |
| &nbsp;&nbsp;&nbsp; Starwood Property Trust Inc., 7.25%, <br> 04/01/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 26330 |
| Store Capital LLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/15/29 | &nbsp;&nbsp;&nbsp; USD337 | &nbsp;&nbsp; 334932 |
| &nbsp;&nbsp;&nbsp; 5.40%, 04/30/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10188 |
| &nbsp;&nbsp;&nbsp; Uniti Group LP/Uniti Group Finance 2019 <br> Inc./CSL Capital LLC, 4.75%, 04/15/28<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 97739 |
| VICI Properties LP |  |  |
| &nbsp;&nbsp;&nbsp; 4.95%, 02/15/30 | &nbsp;&nbsp;&nbsp; USD42 | &nbsp;&nbsp; 42451 |
| &nbsp;&nbsp;&nbsp; 5.13%, 11/15/31 | &nbsp;&nbsp;&nbsp; USD290 | &nbsp;&nbsp; 293629 |
| &nbsp;&nbsp;&nbsp; 5.13%, 05/15/32 | &nbsp;&nbsp;&nbsp; USD61 | &nbsp;&nbsp; 61490 |
| VICI Properties LP/VICI Note Co. Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD569 | &nbsp;&nbsp; 555976 |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD134 | &nbsp;&nbsp; 129567 |
| &nbsp;&nbsp;&nbsp; 4.63%, 12/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD446 | &nbsp;&nbsp; 442304 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** | **Real Estate Investment Trusts (continued)** |
| XHR LP, 4.88%, 06/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD2 | &nbsp;&nbsp; $1955 |
|  |  | &nbsp;&nbsp; 5021908 |
| **Retail — 0.2%** | **Retail — 0.2%** | **Retail — 0.2%** |
| &nbsp;&nbsp;&nbsp; Asbury Automotive Group Inc., 5.00%, <br> 02/15/32<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD101 | &nbsp;&nbsp; 97257 |
| Bath & Body Works Inc., 6.63%, 10/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 17473 |
| &nbsp;&nbsp;&nbsp; Burger King (Restaurant Brands <br> International Inc.)/New Red Finance Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/15/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24089 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 47269 |
| &nbsp;&nbsp;&nbsp; Fertitta Entertainment LLC/Fertitta <br> Entertainment Finance Co. Inc., 6.75%, <br> 01/15/30<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 92694 |
| FirstCash Inc., 5.63%, 01/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD17 | &nbsp;&nbsp; 17026 |
| Lithia Motors Inc., 4.38%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 95332 |
| Nordstrom Inc., 4.25%, 08/01/31 | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 22764 |
| Yum! Brands Inc., 4.75%, 01/15/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD29 | &nbsp;&nbsp; 28928 |
|  |  | &nbsp;&nbsp; 442832 |
| **Semiconductors — 0.9%** | **Semiconductors — 0.9%** | **Semiconductors — 0.9%** |
| Broadcom Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.45%, 02/15/31 | &nbsp;&nbsp;&nbsp; USD418 | &nbsp;&nbsp; 380935 |
| &nbsp;&nbsp;&nbsp; 3.14%, 11/15/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD83 | &nbsp;&nbsp; 71937 |
| &nbsp;&nbsp;&nbsp; 3.19%, 11/15/36<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD38 | &nbsp;&nbsp; 32431 |
| &nbsp;&nbsp;&nbsp; 3.47%, 04/15/34 | &nbsp;&nbsp;&nbsp; USD256 | &nbsp;&nbsp; 234486 |
| &nbsp;&nbsp;&nbsp; 4.15%, 11/15/30 | &nbsp;&nbsp;&nbsp; USD91 | &nbsp;&nbsp; 90538 |
| &nbsp;&nbsp;&nbsp; 4.15%, 04/15/32<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD6 | &nbsp;&nbsp; 5874 |
| &nbsp;&nbsp;&nbsp; 4.80%, 10/15/34 | &nbsp;&nbsp;&nbsp; USD256 | &nbsp;&nbsp; 257226 |
| &nbsp;&nbsp;&nbsp; 4.90%, 02/15/38 | &nbsp;&nbsp;&nbsp; USD115 | &nbsp;&nbsp; 113606 |
| &nbsp;&nbsp;&nbsp; 5.15%, 11/15/31 | &nbsp;&nbsp;&nbsp; USD211 | &nbsp;&nbsp; 219360 |
| &nbsp;&nbsp;&nbsp; 5.20%, 04/15/32 | &nbsp;&nbsp;&nbsp; USD238 | &nbsp;&nbsp; 247610 |
| &nbsp;&nbsp;&nbsp; 5.20%, 07/15/35 | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 13391 |
| &nbsp;&nbsp;&nbsp; Series ., 4.55%, 02/15/32 | &nbsp;&nbsp;&nbsp; USD10 | &nbsp;&nbsp; 10065 |
| Foundry JV Holdco LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.88%, 01/25/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 206498 |
| &nbsp;&nbsp;&nbsp; 5.90%, 01/25/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD305 | &nbsp;&nbsp; 321045 |
| &nbsp;&nbsp;&nbsp; 6.25%, 01/25/35<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 212838 |
| NXP BV/NXP Funding LLC, 5.55%, 12/01/28 | &nbsp;&nbsp;&nbsp; USD40 | &nbsp;&nbsp; 41326 |
|  |  | &nbsp;&nbsp; 2459166 |
| **Software — 0.5%** | **Software — 0.5%** | **Software — 0.5%** |
| &nbsp;&nbsp;&nbsp; Central Parent Inc./CDK Global Inc., 7.25%, <br> 06/15/29<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 20536 |
| Cloud Software Group Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 03/31/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD59 | &nbsp;&nbsp; 59445 |
| &nbsp;&nbsp;&nbsp; 9.00%, 09/30/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD107 | &nbsp;&nbsp; 110674 |
| CoreWeave Inc., 9.25%, 06/01/30<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 20195 |
| MSCI Inc., 5.25%, 09/01/35 | &nbsp;&nbsp;&nbsp; USD315 | &nbsp;&nbsp; 316140 |
| Open Text Corp., 3.88%, 02/15/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD25 | &nbsp;&nbsp; 24299 |
| Oracle Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.10%, 03/25/61 | &nbsp;&nbsp;&nbsp; USD124 | &nbsp;&nbsp; 85436 |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/27/64 | &nbsp;&nbsp;&nbsp; USD122 | &nbsp;&nbsp; 106375 |
| &nbsp;&nbsp;&nbsp; 5.95%, 09/26/55 | &nbsp;&nbsp;&nbsp; USD279 | &nbsp;&nbsp; 264518 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/03/55 | &nbsp;&nbsp;&nbsp; USD146 | &nbsp;&nbsp; 139651 |
| &nbsp;&nbsp;&nbsp; 6.10%, 09/26/65 | &nbsp;&nbsp;&nbsp; USD182 | &nbsp;&nbsp; 173558 |
| &nbsp;&nbsp;&nbsp; 6.13%, 08/03/65 | &nbsp;&nbsp;&nbsp; USD39 | &nbsp;&nbsp; 37267 |
|  |  | &nbsp;&nbsp; 1358094 |
| **Telecommunications — 1.0%** | **Telecommunications — 1.0%** | **Telecommunications — 1.0%** |
| AT&T Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.50%, 09/15/53 | &nbsp;&nbsp;&nbsp; USD171 | &nbsp;&nbsp; 117012 |
| &nbsp;&nbsp;&nbsp; 3.65%, 09/15/59 | &nbsp;&nbsp;&nbsp; USD565 | &nbsp;&nbsp; 382837 |
| &nbsp;&nbsp;&nbsp; 3.80%, 12/01/57 | &nbsp;&nbsp;&nbsp; USD145 | &nbsp;&nbsp; 102370 |
| &nbsp;&nbsp;&nbsp; 3.85%, 06/01/60 | &nbsp;&nbsp;&nbsp; USD61 | &nbsp;&nbsp; 43028 |
| &nbsp;&nbsp;&nbsp; 4.50%, 03/09/48 | &nbsp;&nbsp;&nbsp; USD13 | &nbsp;&nbsp; 10965 |
| &nbsp;&nbsp;&nbsp; 5.45%, 03/01/47 | &nbsp;&nbsp;&nbsp; USD110 | &nbsp;&nbsp; 105906 |
| &nbsp;&nbsp;&nbsp; 6.05%, 08/15/56 | &nbsp;&nbsp;&nbsp; USD268 | &nbsp;&nbsp; 275492 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Telecommunications (continued)** | **Telecommunications (continued)** | **Telecommunications (continued)** |
| Frontier Communications Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/28<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD110 | &nbsp;&nbsp; $109854 |
| &nbsp;&nbsp;&nbsp; 5.88%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD23 | &nbsp;&nbsp; 22982 |
| &nbsp;&nbsp;&nbsp; 5.88%, 11/01/29 | &nbsp;&nbsp;&nbsp; USD65 | &nbsp;&nbsp; 65765 |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/01/29<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 101007 |
| &nbsp;&nbsp;&nbsp; 8.63%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 52784 |
| Level 3 Financing Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 6.88%, 06/30/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 51214 |
| &nbsp;&nbsp;&nbsp; 7.00%, 03/31/34<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD24 | &nbsp;&nbsp; 24658 |
| Motorola Solutions Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.40%, 04/15/34 | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 16569 |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/01/44 | &nbsp;&nbsp;&nbsp; USD12 | &nbsp;&nbsp; 11912 |
| &nbsp;&nbsp;&nbsp; 5.55%, 08/15/35 | &nbsp;&nbsp;&nbsp; USD101 | &nbsp;&nbsp; 105167 |
| &nbsp;&nbsp;&nbsp; 5.60%, 06/01/32 | &nbsp;&nbsp;&nbsp; USD73 | &nbsp;&nbsp; 76794 |
| &nbsp;&nbsp;&nbsp; Rogers Communications Inc., 7.00%, 04/15/55, <br> (5-year CMT + 2.65%)<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; USD100 | &nbsp;&nbsp; 104556 |
| T-Mobile USA Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 2.25%, 11/15/31 | &nbsp;&nbsp;&nbsp; USD16 | &nbsp;&nbsp; 14088 |
| &nbsp;&nbsp;&nbsp; 2.70%, 03/15/32 | &nbsp;&nbsp;&nbsp; USD122 | &nbsp;&nbsp; 109179 |
| &nbsp;&nbsp;&nbsp; 3.60%, 11/15/60 | &nbsp;&nbsp;&nbsp; USD92 | &nbsp;&nbsp; 62282 |
| &nbsp;&nbsp;&nbsp; 3.88%, 04/15/30 | &nbsp;&nbsp;&nbsp; USD263 | &nbsp;&nbsp; 257608 |
| &nbsp;&nbsp;&nbsp; 5.20%, 01/15/33 | &nbsp;&nbsp;&nbsp; USD34 | &nbsp;&nbsp; 35010 |
| &nbsp;&nbsp;&nbsp; 5.80%, 09/15/62 | &nbsp;&nbsp;&nbsp; USD163 | &nbsp;&nbsp; 162863 |
| Verizon Communications Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.40%, 11/01/34 | &nbsp;&nbsp;&nbsp; USD20 | &nbsp;&nbsp; 19248 |
| &nbsp;&nbsp;&nbsp; 4.78%, 02/15/35 | &nbsp;&nbsp;&nbsp; USD125 | &nbsp;&nbsp; 122478 |
| &nbsp;&nbsp;&nbsp; 5.40%, 07/02/37<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD112 | &nbsp;&nbsp; 113366 |
| Viasat Inc., 5.63%, 04/15/27<sup>(a)(d)</sup> | &nbsp;&nbsp;&nbsp; USD50 | &nbsp;&nbsp; 49960 |
| Windstream Services LLC, 7.50%, 10/15/33<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; USD5 | &nbsp;&nbsp; 4991 |
| &nbsp;&nbsp;&nbsp; Zayo Group Holdings Inc., 9.25%, 03/09/30, <br> (9.25% PIK)<sup>(a)(g)</sup><br>| &nbsp;&nbsp;&nbsp; USD3 | &nbsp;&nbsp; 2853 |
|  |  | &nbsp;&nbsp; 2734798 |
| **Total Corporate Bonds & Notes — 30.1%** <br>**(Cost: $83,886,184)** | **Total Corporate Bonds & Notes — 30.1%** <br>**(Cost: $83,886,184)** | &nbsp;&nbsp; 85302801 |
| **Foreign Government Obligations** | **Foreign Government Obligations** | **Foreign Government Obligations** |
| **Brazil — 0.7%** | **Brazil — 0.7%** | **Brazil — 0.7%** |
| &nbsp;&nbsp;&nbsp; Brazil Letras do Tesouro Nacional, 0.00% <br> 04/01/26<sup>(i)</sup><br>| &nbsp;&nbsp;&nbsp; BRL395 | &nbsp;&nbsp; 69435 |
| Brazil Notas do Tesouro Nacional |  |  |
| &nbsp;&nbsp;&nbsp; 10.00%, 01/01/35 | &nbsp;&nbsp;&nbsp; BRL10,698 | &nbsp;&nbsp; 1626574 |
| &nbsp;&nbsp;&nbsp; Series F, 10.00%, 01/01/29 | &nbsp;&nbsp;&nbsp; BRL2,000 | &nbsp;&nbsp; 343726 |
|  |  | &nbsp;&nbsp; 2039735 |
| **China — 0.0%** | **China — 0.0%** | **China — 0.0%** |
| China Government Bonds, 1.92%, 07/15/45 | &nbsp;&nbsp;&nbsp; CNY160 | &nbsp;&nbsp; 21697 |
| **Colombia — 0.2%** | **Colombia — 0.2%** | **Colombia — 0.2%** |
| Colombian TES, Series B, 6.25%, 07/09/36 | &nbsp;&nbsp;&nbsp; COP3,004,200 | &nbsp;&nbsp; 528264 |
| **Indonesia — 0.2%** | **Indonesia — 0.2%** | **Indonesia — 0.2%** |
| Indonesia Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 2.85%, 02/14/30 | &nbsp;&nbsp;&nbsp; USD400 | &nbsp;&nbsp; 378625 |
| &nbsp;&nbsp;&nbsp; 3.05%, 03/12/51 | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 136800 |
|  |  | &nbsp;&nbsp; 515425 |
| **Mexico — 0.7%** | **Mexico — 0.7%** | **Mexico — 0.7%** |
| Mexico Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 2.66%, 05/24/31 | &nbsp;&nbsp;&nbsp; USD820 | &nbsp;&nbsp; 734720 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/12/34 | &nbsp;&nbsp;&nbsp; USD400 | &nbsp;&nbsp; 348800 |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/31/50 | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 157000 |
| &nbsp;&nbsp;&nbsp; 4.88%, 05/19/33 | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 194100 |
| &nbsp;&nbsp;&nbsp; 6.35%, 02/09/35 | &nbsp;&nbsp;&nbsp; USD241 | &nbsp;&nbsp; 254737 |
| &nbsp;&nbsp;&nbsp; 6.88%, 05/13/37 | &nbsp;&nbsp;&nbsp; USD224 | &nbsp;&nbsp; 242368 |
|  |  | &nbsp;&nbsp; 1931725 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Panama — 0.2%** | **Panama — 0.2%** | **Panama — 0.2%** |
| Panama Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 03/17/28 | &nbsp;&nbsp;&nbsp; USD400 | &nbsp;&nbsp; $393307 |
| &nbsp;&nbsp;&nbsp; 4.50%, 04/01/56 | &nbsp;&nbsp;&nbsp; USD200 | &nbsp;&nbsp; 152666 |
|  |  | &nbsp;&nbsp; 545973 |
| **Peru — 0.2%** | **Peru — 0.2%** | **Peru — 0.2%** |
| Peru Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 3.55%, 03/10/51 | &nbsp;&nbsp;&nbsp; USD146 | &nbsp;&nbsp; 105266 |
| &nbsp;&nbsp;&nbsp; 6.85%, 08/12/35<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; PEN626 | &nbsp;&nbsp; 196293 |
| &nbsp;&nbsp;&nbsp; 7.60%, 08/12/39<sup>(e)</sup> | &nbsp;&nbsp;&nbsp; PEN504 | &nbsp;&nbsp; 163203 |
|  |  | &nbsp;&nbsp; 464762 |
| **Philippines — 0.2%** | **Philippines — 0.2%** | **Philippines — 0.2%** |
| &nbsp;&nbsp;&nbsp; Philippines Government International Bonds, <br> 3.00%, 02/01/28<br>| &nbsp;&nbsp;&nbsp; USD600 | &nbsp;&nbsp; 587400 |
| **South Africa — 0.1%** | **South Africa — 0.1%** | **South Africa — 0.1%** |
| Republic of South Africa Government Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 8.50%, 01/31/37 | &nbsp;&nbsp;&nbsp; ZAR3,687 | &nbsp;&nbsp; 200244 |
| &nbsp;&nbsp;&nbsp; 10.00%, 03/31/33 | &nbsp;&nbsp;&nbsp; ZAR3,994 | &nbsp;&nbsp; 249322 |
|  |  | &nbsp;&nbsp; 449566 |
| **Uruguay — 0.1%** | **Uruguay — 0.1%** | **Uruguay — 0.1%** |
| Uruguay Government International Bonds |  |  |
| &nbsp;&nbsp;&nbsp; 4.38%, 10/27/27 | &nbsp;&nbsp;&nbsp; USD124 | &nbsp;&nbsp; 124367 |
| &nbsp;&nbsp;&nbsp; 5.10%, 06/18/50 | &nbsp;&nbsp;&nbsp; USD139 | &nbsp;&nbsp; 133628 |
| &nbsp;&nbsp;&nbsp; 8.00%, 10/29/35 | &nbsp;&nbsp;&nbsp; UYU568 | &nbsp;&nbsp; 14316 |
|  |  | &nbsp;&nbsp; 272311 |
| **Total Foreign Government Obligations — 2.6%** <br>**(Cost: $7,049,157)** | **Total Foreign Government Obligations — 2.6%** <br>**(Cost: $7,049,157)** | &nbsp;&nbsp; 7356858 |
| **Municipal Debt Obligations** | **Municipal Debt Obligations** | **Municipal Debt Obligations** |
| **California — 0.2%** | **California — 0.2%** | **California — 0.2%** |
| &nbsp;&nbsp;&nbsp; Bay Area Toll Authority RB BAB, Series S-1, <br> 7.04%, 04/01/50<sup>(d)</sup><br>| &nbsp;&nbsp;&nbsp; $110 | &nbsp;&nbsp; 128471 |
| State of California GO, 4.60%, 04/01/38 | &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 255045 |
| State of California GO BAB, 7.55%, 04/01/39<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 55 | &nbsp;&nbsp; 67213 |
| &nbsp;&nbsp;&nbsp; University of California RB, Series AD, 4.86%, <br> 05/15/12<br>| &nbsp;&nbsp;&nbsp; 62 | &nbsp;&nbsp; 53634 |
|  |  | &nbsp;&nbsp; 504363 |
| **Georgia — 0.0%** | **Georgia — 0.0%** | **Georgia — 0.0%** |
| &nbsp;&nbsp;&nbsp; Municipal Electric Authority of Georgia RB BAB, <br> Project J, Series 2010-A, 6.64%, 04/01/57<br>| &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp; 54928 |
| **Illinois — 0.1%** | **Illinois — 0.1%** | **Illinois — 0.1%** |
| State of Illinois GO, 5.10%, 06/01/33 | &nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp; 240665 |
| **Louisiana — 0.1%** | **Louisiana — 0.1%** | **Louisiana — 0.1%** |
| &nbsp;&nbsp;&nbsp; Louisiana Local Government Environmental <br> Facilities & Community Development <br> Authority RB, 4.15%, 02/01/33<br>| &nbsp;&nbsp;&nbsp; 240 | &nbsp;&nbsp; 239581 |
| **New Jersey — 0.0%** | **New Jersey — 0.0%** | **New Jersey — 0.0%** |
| &nbsp;&nbsp;&nbsp; New Jersey Turnpike Authority RB BAB, <br> Series F, 7.41%, 01/01/40<br>| &nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp; 76197 |
| **New York — 0.0%** | **New York — 0.0%** | **New York — 0.0%** |
| &nbsp;&nbsp;&nbsp; New York City Municipal Water Finance <br> Authority RB, 5.88%, 06/15/44<br>| &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 20886 |
| &nbsp;&nbsp;&nbsp; New York City Municipal Water Finance <br> Authority RB BAB, 6.01%, 06/15/42<br>| &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 10577 |
| Port Authority of New York & New Jersey RB |  |  |
| &nbsp;&nbsp;&nbsp; Series 168, 4.93%, 10/01/51 | &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 28749 |
| &nbsp;&nbsp;&nbsp; Series 181, 4.96%, 08/01/46 | &nbsp;&nbsp;&nbsp; 50 | &nbsp;&nbsp; 48016 |
|  |  | &nbsp;&nbsp; 108228 |
| **Ohio — 0.0%** | **Ohio — 0.0%** | **Ohio — 0.0%** |
| &nbsp;&nbsp;&nbsp; American Municipal Power Inc. RB, Series B, <br> 8.08%, 02/15/50<br>| &nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp; 109368 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Texas — 0.1%** | **Texas — 0.1%** | **Texas — 0.1%** |
| &nbsp;&nbsp;&nbsp; City of San Antonio Electric & Gas Systems <br> Revenue RB BAB, 5.81%, 02/01/41<br>| &nbsp;&nbsp;&nbsp; $50 | &nbsp;&nbsp; $52116 |
| State of Texas GO BAB, 5.52%, 04/01/39 | &nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp; 72902 |
|  |  | &nbsp;&nbsp; 125018 |
| **Total Municipal Debt Obligations — 0.5%** <br>**(Cost: $1,440,273)** | **Total Municipal Debt Obligations — 0.5%** <br>**(Cost: $1,440,273)** | &nbsp;&nbsp; 1458348 |
| **U.S. Government & Agency Obligations** | **U.S. Government & Agency Obligations** | **U.S. Government & Agency Obligations** |
| **Mortgage Securities — 0.4%** | **Mortgage Securities — 0.4%** | **Mortgage Securities — 0.4%** |
| &nbsp;&nbsp;&nbsp; Uniform Mortgage-Backed Securities, 6.00%, <br> 08/01/55<br>| &nbsp;&nbsp;&nbsp; 1030 | &nbsp;&nbsp; 1056329 |
| **Mortgage-Backed Securities — 57.3%** | **Mortgage-Backed Securities — 57.3%** | **Mortgage-Backed Securities — 57.3%** |
| &nbsp;&nbsp;&nbsp; Federal Home Loan Mortgage Corp., 4.50%, <br> 07/01/47<br>| &nbsp;&nbsp;&nbsp; 127 | &nbsp;&nbsp; 125835 |
| &nbsp;&nbsp;&nbsp; Federal National Mortgage Association, 5.81%, <br> 06/01/31<br>| &nbsp;&nbsp;&nbsp; 20 | &nbsp;&nbsp; 20787 |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 08/20/51 | &nbsp;&nbsp;&nbsp; 255 | &nbsp;&nbsp; 212529 |
| &nbsp;&nbsp;&nbsp; 2.00%, 01/20/52 | &nbsp;&nbsp;&nbsp; 1585 | &nbsp;&nbsp; 1318658 |
| &nbsp;&nbsp;&nbsp; 2.00%, 11/20/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 2608 | &nbsp;&nbsp; 2168627 |
| &nbsp;&nbsp;&nbsp; 2.50%, 10/20/51 | &nbsp;&nbsp;&nbsp; 1512 | &nbsp;&nbsp; 1309513 |
| &nbsp;&nbsp;&nbsp; 2.50%, 11/20/51 | &nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp; 155900 |
| &nbsp;&nbsp;&nbsp; 2.50%, 04/20/52 | &nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp; 189022 |
| &nbsp;&nbsp;&nbsp; 2.50%, 05/20/52 | &nbsp;&nbsp;&nbsp; 122 | &nbsp;&nbsp; 106064 |
| &nbsp;&nbsp;&nbsp; 2.50%, 11/20/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 2350 | &nbsp;&nbsp; 2033758 |
| &nbsp;&nbsp;&nbsp; 3.00%, 06/20/50 | &nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp; 52498 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/20/51 | &nbsp;&nbsp;&nbsp; 135 | &nbsp;&nbsp; 120988 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/20/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 1841 | &nbsp;&nbsp; 1654023 |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/20/44 | &nbsp;&nbsp;&nbsp; 113 | &nbsp;&nbsp; 106418 |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/20/47 | &nbsp;&nbsp;&nbsp; 35 | &nbsp;&nbsp; 32886 |
| &nbsp;&nbsp;&nbsp; 3.50%, 06/20/47 | &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp; 5465 |
| &nbsp;&nbsp;&nbsp; 3.50%, 07/20/47 | &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp; 11943 |
| &nbsp;&nbsp;&nbsp; 3.50%, 12/20/47 | &nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp; 7316 |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/20/48 | &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp; 12335 |
| &nbsp;&nbsp;&nbsp; 3.50%, 07/20/48 | &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 9109 |
| &nbsp;&nbsp;&nbsp; 3.50%, 05/20/52 | &nbsp;&nbsp;&nbsp; 445 | &nbsp;&nbsp; 411228 |
| &nbsp;&nbsp;&nbsp; 3.50%, 06/20/52 | &nbsp;&nbsp;&nbsp; 252 | &nbsp;&nbsp; 232686 |
| &nbsp;&nbsp;&nbsp; 3.50%, 07/20/52 | &nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp; 123947 |
| &nbsp;&nbsp;&nbsp; 3.50%, 10/20/52 | &nbsp;&nbsp;&nbsp; 381 | &nbsp;&nbsp; 350140 |
| &nbsp;&nbsp;&nbsp; 3.50%, 11/20/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 289 | &nbsp;&nbsp; 264499 |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/20/43 | &nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp; 24953 |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/20/48 | &nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp; 67540 |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/20/52 | &nbsp;&nbsp;&nbsp; 130 | &nbsp;&nbsp; 123826 |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/20/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 920 | &nbsp;&nbsp; 869982 |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/20/41 | &nbsp;&nbsp;&nbsp; 24 | &nbsp;&nbsp; 24536 |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/20/48 | &nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp; 55906 |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/20/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 1235 | &nbsp;&nbsp; 1205152 |
| &nbsp;&nbsp;&nbsp; 5.00%, 11/15/54<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp; 1694633 |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/15/54<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 2084 | &nbsp;&nbsp; 2101186 |
| &nbsp;&nbsp;&nbsp; 6.00%, 11/15/54<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 1320 | &nbsp;&nbsp; 1343366 |
| &nbsp;&nbsp;&nbsp; 6.50%, 11/15/54<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 578 | &nbsp;&nbsp; 596204 |
| &nbsp;&nbsp;&nbsp; 6.50%, 12/15/54<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 534 | &nbsp;&nbsp; 549815 |
| Uniform Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp; 1.50%, 11/18/40<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 630 | &nbsp;&nbsp; 564282 |
| &nbsp;&nbsp;&nbsp; 1.50%, 01/01/51 | &nbsp;&nbsp;&nbsp; 63 | &nbsp;&nbsp; 48688 |
| &nbsp;&nbsp;&nbsp; 1.50%, 02/01/51 | &nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp; 41668 |
| &nbsp;&nbsp;&nbsp; 1.50%, 03/01/51 | &nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp; 27467 |
| &nbsp;&nbsp;&nbsp; 1.50%, 05/01/51 | &nbsp;&nbsp;&nbsp; 22 | &nbsp;&nbsp; 17315 |
| &nbsp;&nbsp;&nbsp; 1.50%, 06/01/51 | &nbsp;&nbsp;&nbsp; 37 | &nbsp;&nbsp; 29097 |
| &nbsp;&nbsp;&nbsp; 1.50%, 04/01/52 | &nbsp;&nbsp;&nbsp; 399 | &nbsp;&nbsp; 308259 |
| &nbsp;&nbsp;&nbsp; 2.00%, 12/01/35 | &nbsp;&nbsp;&nbsp; 162 | &nbsp;&nbsp; 149623 |
| &nbsp;&nbsp;&nbsp; 2.00%, 05/01/36 | &nbsp;&nbsp;&nbsp; 118 | &nbsp;&nbsp; 109634 |
| &nbsp;&nbsp;&nbsp; 2.00%, 07/01/36 | &nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp; 171805 |
| &nbsp;&nbsp;&nbsp; 2.00%, 03/01/37 | &nbsp;&nbsp;&nbsp; 126 | &nbsp;&nbsp; 116155 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; 2.00%, 11/18/40<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; $728 | &nbsp;&nbsp; $669918 |
| &nbsp;&nbsp;&nbsp; 2.00%, 03/01/41 | &nbsp;&nbsp;&nbsp; 59 | &nbsp;&nbsp; 50837 |
| &nbsp;&nbsp;&nbsp; 2.00%, 10/01/41 | &nbsp;&nbsp;&nbsp; 353 | &nbsp;&nbsp; 307088 |
| &nbsp;&nbsp;&nbsp; 2.00%, 12/01/41 | &nbsp;&nbsp;&nbsp; 866 | &nbsp;&nbsp; 754505 |
| &nbsp;&nbsp;&nbsp; 2.00%, 01/01/42 | &nbsp;&nbsp;&nbsp; 146 | &nbsp;&nbsp; 126650 |
| &nbsp;&nbsp;&nbsp; 2.00%, 02/01/42 | &nbsp;&nbsp;&nbsp; 870 | &nbsp;&nbsp; 754876 |
| &nbsp;&nbsp;&nbsp; 2.00%, 04/01/42 | &nbsp;&nbsp;&nbsp; 1301 | &nbsp;&nbsp; 1129495 |
| &nbsp;&nbsp;&nbsp; 2.00%, 09/01/50 | &nbsp;&nbsp;&nbsp; 683 | &nbsp;&nbsp; 559792 |
| &nbsp;&nbsp;&nbsp; 2.00%, 11/01/50 | &nbsp;&nbsp;&nbsp; 462 | &nbsp;&nbsp; 378942 |
| &nbsp;&nbsp;&nbsp; 2.00%, 01/01/51 | &nbsp;&nbsp;&nbsp; 775 | &nbsp;&nbsp; 634376 |
| &nbsp;&nbsp;&nbsp; 2.00%, 05/01/51 | &nbsp;&nbsp;&nbsp; 810 | &nbsp;&nbsp; 661693 |
| &nbsp;&nbsp;&nbsp; 2.00%, 10/01/51 | &nbsp;&nbsp;&nbsp; 638 | &nbsp;&nbsp; 521184 |
| &nbsp;&nbsp;&nbsp; 2.00%, 11/01/51 | &nbsp;&nbsp;&nbsp; 2143 | &nbsp;&nbsp; 1749386 |
| &nbsp;&nbsp;&nbsp; 2.00%, 02/01/52 | &nbsp;&nbsp;&nbsp; 463 | &nbsp;&nbsp; 377156 |
| &nbsp;&nbsp;&nbsp; 2.00%, 03/01/52 | &nbsp;&nbsp;&nbsp; 2033 | &nbsp;&nbsp; 1656954 |
| &nbsp;&nbsp;&nbsp; 2.00%, 04/01/52 | &nbsp;&nbsp;&nbsp; 580 | &nbsp;&nbsp; 472877 |
| &nbsp;&nbsp;&nbsp; 2.00%, 05/01/52 | &nbsp;&nbsp;&nbsp; 1063 | &nbsp;&nbsp; 871817 |
| &nbsp;&nbsp;&nbsp; 2.00%, 08/01/52 | &nbsp;&nbsp;&nbsp; 78 | &nbsp;&nbsp; 63277 |
| &nbsp;&nbsp;&nbsp; 2.00%, 11/13/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 2034 | &nbsp;&nbsp; 1649060 |
| &nbsp;&nbsp;&nbsp; 2.50%, 02/01/35 | &nbsp;&nbsp;&nbsp; 71 | &nbsp;&nbsp; 68539 |
| &nbsp;&nbsp;&nbsp; 2.50%, 05/01/35 | &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 56976 |
| &nbsp;&nbsp;&nbsp; 2.50%, 02/01/36 | &nbsp;&nbsp;&nbsp; 32 | &nbsp;&nbsp; 29999 |
| &nbsp;&nbsp;&nbsp; 2.50%, 07/01/36 | &nbsp;&nbsp;&nbsp; 31 | &nbsp;&nbsp; 29404 |
| &nbsp;&nbsp;&nbsp; 2.50%, 11/18/40<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 646 | &nbsp;&nbsp; 607579 |
| &nbsp;&nbsp;&nbsp; 2.50%, 05/01/51 | &nbsp;&nbsp;&nbsp; 68 | &nbsp;&nbsp; 57620 |
| &nbsp;&nbsp;&nbsp; 2.50%, 06/01/51 | &nbsp;&nbsp;&nbsp; 603 | &nbsp;&nbsp; 514516 |
| &nbsp;&nbsp;&nbsp; 2.50%, 09/01/51 | &nbsp;&nbsp;&nbsp; 595 | &nbsp;&nbsp; 507935 |
| &nbsp;&nbsp;&nbsp; 2.50%, 10/01/51 | &nbsp;&nbsp;&nbsp; 144 | &nbsp;&nbsp; 123179 |
| &nbsp;&nbsp;&nbsp; 2.50%, 11/01/51 | &nbsp;&nbsp;&nbsp; 867 | &nbsp;&nbsp; 750283 |
| &nbsp;&nbsp;&nbsp; 2.50%, 12/01/51 | &nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp; 80645 |
| &nbsp;&nbsp;&nbsp; 2.50%, 01/01/52 | &nbsp;&nbsp;&nbsp; 796 | &nbsp;&nbsp; 684539 |
| &nbsp;&nbsp;&nbsp; 2.50%, 03/01/52 | &nbsp;&nbsp;&nbsp; 1426 | &nbsp;&nbsp; 1222733 |
| &nbsp;&nbsp;&nbsp; 2.50%, 04/01/52 | &nbsp;&nbsp;&nbsp; 887 | &nbsp;&nbsp; 756137 |
| &nbsp;&nbsp;&nbsp; 2.50%, 05/01/52 | &nbsp;&nbsp;&nbsp; 1579 | &nbsp;&nbsp; 1349459 |
| &nbsp;&nbsp;&nbsp; 2.50%, 06/01/52 | &nbsp;&nbsp;&nbsp; 141 | &nbsp;&nbsp; 119965 |
| &nbsp;&nbsp;&nbsp; 2.50%, 07/01/53 | &nbsp;&nbsp;&nbsp; 121 | &nbsp;&nbsp; 103263 |
| &nbsp;&nbsp;&nbsp; 2.50%, 11/13/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 1578 | &nbsp;&nbsp; 1339511 |
| &nbsp;&nbsp;&nbsp; 3.00%, 02/01/29 | &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp; 16388 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/01/34 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; 18570 |
| &nbsp;&nbsp;&nbsp; 3.00%, 06/01/37 | &nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp; 25412 |
| &nbsp;&nbsp;&nbsp; 3.00%, 07/01/37 | &nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp; 25792 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/18/40<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 354 | &nbsp;&nbsp; 339172 |
| &nbsp;&nbsp;&nbsp; 3.00%, 09/01/46 | &nbsp;&nbsp;&nbsp; 251 | &nbsp;&nbsp; 230003 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/01/48 | &nbsp;&nbsp;&nbsp; 313 | &nbsp;&nbsp; 284104 |
| &nbsp;&nbsp;&nbsp; 3.00%, 06/01/50 | &nbsp;&nbsp;&nbsp; 218 | &nbsp;&nbsp; 195776 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/01/50 | &nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 180971 |
| &nbsp;&nbsp;&nbsp; 3.00%, 12/01/50 | &nbsp;&nbsp;&nbsp; 319 | &nbsp;&nbsp; 288610 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/01/51 | &nbsp;&nbsp;&nbsp; 64 | &nbsp;&nbsp; 56768 |
| &nbsp;&nbsp;&nbsp; 3.00%, 12/01/51 | &nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp; 459296 |
| &nbsp;&nbsp;&nbsp; 3.00%, 01/01/52 | &nbsp;&nbsp;&nbsp; 269 | &nbsp;&nbsp; 240945 |
| &nbsp;&nbsp;&nbsp; 3.00%, 05/01/52 | &nbsp;&nbsp;&nbsp; 1309 | &nbsp;&nbsp; 1166717 |
| &nbsp;&nbsp;&nbsp; 3.00%, 07/01/52 | &nbsp;&nbsp;&nbsp; 559 | &nbsp;&nbsp; 497483 |
| &nbsp;&nbsp;&nbsp; 3.00%, 11/13/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 350 | &nbsp;&nbsp; 310078 |
| &nbsp;&nbsp;&nbsp; 3.50%, 01/01/34 | &nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp; 18591 |
| &nbsp;&nbsp;&nbsp; 3.50%, 04/01/37 | &nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp; 10917 |
| &nbsp;&nbsp;&nbsp; 3.50%, 06/01/37 | &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp; 5004 |
| &nbsp;&nbsp;&nbsp; 3.50%, 11/18/40<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp; 113319 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/01/45 | &nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp; 101830 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/01/47 | &nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp; 36695 |
| &nbsp;&nbsp;&nbsp; 3.50%, 05/01/47 | &nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp; 8803 |
| &nbsp;&nbsp;&nbsp; 3.50%, 10/01/47 | &nbsp;&nbsp;&nbsp; 61 | &nbsp;&nbsp; 57426 |
| &nbsp;&nbsp;&nbsp; 3.50%, 09/01/49 | &nbsp;&nbsp;&nbsp; 707 | &nbsp;&nbsp; 668631 |
| &nbsp;&nbsp;&nbsp; 3.50%, 01/01/50 | &nbsp;&nbsp;&nbsp; 212 | &nbsp;&nbsp; 198415 |
| &nbsp;&nbsp;&nbsp; 3.50%, 03/01/50 | &nbsp;&nbsp;&nbsp; 472 | &nbsp;&nbsp; 437948 |
| &nbsp;&nbsp;&nbsp; 3.50%, 02/01/51 | &nbsp;&nbsp;&nbsp; 34 | &nbsp;&nbsp; 31563 |
| &nbsp;&nbsp;&nbsp; 3.50%, 08/01/52 | &nbsp;&nbsp;&nbsp; 40 | &nbsp;&nbsp; 37662 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; 3.50%, 11/13/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; $28670 | &nbsp;&nbsp; $26429758 |
| &nbsp;&nbsp;&nbsp; 3.50%, 12/11/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 20585 | &nbsp;&nbsp; 18962300 |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/15/39<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 107 | &nbsp;&nbsp; 105293 |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/01/46 | &nbsp;&nbsp;&nbsp; 223 | &nbsp;&nbsp; 216947 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/01/47 | &nbsp;&nbsp;&nbsp; 164 | &nbsp;&nbsp; 157775 |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/01/48 | &nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp; 83947 |
| &nbsp;&nbsp;&nbsp; 4.00%, 03/01/50 | &nbsp;&nbsp;&nbsp; 473 | &nbsp;&nbsp; 456789 |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/01/50 | &nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp; 74807 |
| &nbsp;&nbsp;&nbsp; 4.00%, 08/01/51 | &nbsp;&nbsp;&nbsp; 367 | &nbsp;&nbsp; 352389 |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/01/52 | &nbsp;&nbsp;&nbsp; 202 | &nbsp;&nbsp; 195770 |
| &nbsp;&nbsp;&nbsp; 4.00%, 10/01/52 | &nbsp;&nbsp;&nbsp; 230 | &nbsp;&nbsp; 219443 |
| &nbsp;&nbsp;&nbsp; 4.00%, 04/01/53 | &nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp; 12136 |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/13/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 2519 | &nbsp;&nbsp; 2389794 |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/11/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; (2138)<br>| &nbsp;&nbsp; (2027585)<br>|
| &nbsp;&nbsp;&nbsp; 4.50%, 11/15/39<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 539 | &nbsp;&nbsp; 538010 |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/01/48 | &nbsp;&nbsp;&nbsp; 110 | &nbsp;&nbsp; 108881 |
| &nbsp;&nbsp;&nbsp; 4.50%, 12/01/48 | &nbsp;&nbsp;&nbsp; 139 | &nbsp;&nbsp; 137762 |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/01/49 | &nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp; 110602 |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/01/49 | &nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp; 52703 |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/01/50 | &nbsp;&nbsp;&nbsp; 111 | &nbsp;&nbsp; 110211 |
| &nbsp;&nbsp;&nbsp; 4.50%, 10/01/52 | &nbsp;&nbsp;&nbsp; 609 | &nbsp;&nbsp; 596829 |
| &nbsp;&nbsp;&nbsp; 4.50%, 01/01/53 | &nbsp;&nbsp;&nbsp; 918 | &nbsp;&nbsp; 898564 |
| &nbsp;&nbsp;&nbsp; 4.50%, 02/01/53 | &nbsp;&nbsp;&nbsp; 89 | &nbsp;&nbsp; 86893 |
| &nbsp;&nbsp;&nbsp; 4.50%, 03/01/53 | &nbsp;&nbsp;&nbsp; 16 | &nbsp;&nbsp; 15727 |
| &nbsp;&nbsp;&nbsp; 4.50%, 09/01/53 | &nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp; 220332 |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/13/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 8783 | &nbsp;&nbsp; 8560100 |
| &nbsp;&nbsp;&nbsp; 4.50%, 12/11/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 2756 | &nbsp;&nbsp; 2684873 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/01/47 | &nbsp;&nbsp;&nbsp; 38 | &nbsp;&nbsp; 39331 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/01/50 | &nbsp;&nbsp;&nbsp; 56 | &nbsp;&nbsp; 57115 |
| &nbsp;&nbsp;&nbsp; 5.00%, 05/01/53 | &nbsp;&nbsp;&nbsp; 129 | &nbsp;&nbsp; 129252 |
| &nbsp;&nbsp;&nbsp; 5.00%, 06/01/53 | &nbsp;&nbsp;&nbsp; 508 | &nbsp;&nbsp; 508049 |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/01/53 | &nbsp;&nbsp;&nbsp; 224 | &nbsp;&nbsp; 224712 |
| &nbsp;&nbsp;&nbsp; 5.00%, 08/01/53 | &nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp; 84938 |
| &nbsp;&nbsp;&nbsp; 5.00%, 10/01/53 | &nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp; 135589 |
| &nbsp;&nbsp;&nbsp; 5.00%, 11/01/53 | &nbsp;&nbsp;&nbsp; 783 | &nbsp;&nbsp; 782033 |
| &nbsp;&nbsp;&nbsp; 5.00%, 03/01/54 | &nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp; 94437 |
| &nbsp;&nbsp;&nbsp; 5.00%, 11/13/55<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 3377 | &nbsp;&nbsp; 3359733 |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/01/52 | &nbsp;&nbsp;&nbsp; 120 | &nbsp;&nbsp; 122359 |
| &nbsp;&nbsp;&nbsp; 5.50%, 02/01/53 | &nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp; 157920 |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/01/53 | &nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp; 203228 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/01/53 | &nbsp;&nbsp;&nbsp; 325 | &nbsp;&nbsp; 329669 |
| &nbsp;&nbsp;&nbsp; 5.50%, 07/01/53 | &nbsp;&nbsp;&nbsp; 535 | &nbsp;&nbsp; 544617 |
| &nbsp;&nbsp;&nbsp; 5.50%, 08/01/53 | &nbsp;&nbsp;&nbsp; 489 | &nbsp;&nbsp; 496856 |
| &nbsp;&nbsp;&nbsp; 5.50%, 09/01/53 | &nbsp;&nbsp;&nbsp; 510 | &nbsp;&nbsp; 517391 |
| &nbsp;&nbsp;&nbsp; 5.50%, 10/01/53 | &nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp; 58559 |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/01/53 | &nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp; 27890 |
| &nbsp;&nbsp;&nbsp; 5.50%, 03/01/54 | &nbsp;&nbsp;&nbsp; 123 | &nbsp;&nbsp; 125307 |
| &nbsp;&nbsp;&nbsp; 5.50%, 06/01/54 | &nbsp;&nbsp;&nbsp; 244 | &nbsp;&nbsp; 247092 |
| &nbsp;&nbsp;&nbsp; 5.50%, 08/01/54 | &nbsp;&nbsp;&nbsp; 467 | &nbsp;&nbsp; 473043 |
| &nbsp;&nbsp;&nbsp; 5.50%, 11/15/54<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 29853 | &nbsp;&nbsp; 30160350 |
| &nbsp;&nbsp;&nbsp; 5.50%, 01/01/55 | &nbsp;&nbsp;&nbsp; 464 | &nbsp;&nbsp; 472350 |
| &nbsp;&nbsp;&nbsp; 6.00%, 11/01/52 | &nbsp;&nbsp;&nbsp; 81 | &nbsp;&nbsp; 83809 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/01/52 | &nbsp;&nbsp;&nbsp; 57 | &nbsp;&nbsp; 58574 |
| &nbsp;&nbsp;&nbsp; 6.00%, 01/01/53 | &nbsp;&nbsp;&nbsp; 117 | &nbsp;&nbsp; 120434 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/01/53 | &nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp; 12621 |
| &nbsp;&nbsp;&nbsp; 6.00%, 05/01/53 | &nbsp;&nbsp;&nbsp; 87 | &nbsp;&nbsp; 89620 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/53 | &nbsp;&nbsp;&nbsp; 25 | &nbsp;&nbsp; 25374 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/01/53 | &nbsp;&nbsp;&nbsp; 84 | &nbsp;&nbsp; 85692 |
| &nbsp;&nbsp;&nbsp; 6.00%, 09/01/53 | &nbsp;&nbsp;&nbsp; 119 | &nbsp;&nbsp; 123033 |
| &nbsp;&nbsp;&nbsp; 6.00%, 11/01/53 | &nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp; 96446 |
| &nbsp;&nbsp;&nbsp; 6.00%, 12/01/53 | &nbsp;&nbsp;&nbsp; 216 | &nbsp;&nbsp; 223559 |
| &nbsp;&nbsp;&nbsp; 6.00%, 03/01/54 | &nbsp;&nbsp;&nbsp; 212 | &nbsp;&nbsp; 217496 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/01/54 | &nbsp;&nbsp;&nbsp; 172 | &nbsp;&nbsp; 176836 |
| &nbsp;&nbsp;&nbsp; 6.00%, 05/01/54 | &nbsp;&nbsp;&nbsp; 128 | &nbsp;&nbsp; 131613 |
| &nbsp;&nbsp;&nbsp; 6.00%, 06/01/54 | &nbsp;&nbsp;&nbsp; 267 | &nbsp;&nbsp; 274110 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/01/54 | &nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp; 84900 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** | **Mortgage-Backed Securities (continued)** |
| &nbsp;&nbsp;&nbsp; 6.00%, 11/15/54<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; $6788 | &nbsp;&nbsp; $6941598 |
| &nbsp;&nbsp;&nbsp; 6.00%, 02/01/55 | &nbsp;&nbsp;&nbsp; 85 | &nbsp;&nbsp; 87207 |
| &nbsp;&nbsp;&nbsp; 6.00%, 04/01/55 | &nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp; 88287 |
| &nbsp;&nbsp;&nbsp; 6.00%, 05/01/55 | &nbsp;&nbsp;&nbsp; 180 | &nbsp;&nbsp; 185661 |
| &nbsp;&nbsp;&nbsp; 6.00%, 08/01/55 | &nbsp;&nbsp;&nbsp; 67 | &nbsp;&nbsp; 68375 |
| &nbsp;&nbsp;&nbsp; 6.50%, 11/01/52 | &nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp; 29438 |
| &nbsp;&nbsp;&nbsp; 6.50%, 12/01/52 | &nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp; 14409 |
| &nbsp;&nbsp;&nbsp; 6.50%, 01/01/53 | &nbsp;&nbsp;&nbsp; 60 | &nbsp;&nbsp; 62201 |
| &nbsp;&nbsp;&nbsp; 6.50%, 02/01/53 | &nbsp;&nbsp;&nbsp; 36 | &nbsp;&nbsp; 37677 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/01/53 | &nbsp;&nbsp;&nbsp; 165 | &nbsp;&nbsp; 171369 |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/01/53 | &nbsp;&nbsp;&nbsp; 237 | &nbsp;&nbsp; 245949 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/01/53 | &nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp; 80003 |
| &nbsp;&nbsp;&nbsp; 6.50%, 06/01/54 | &nbsp;&nbsp;&nbsp; 94 | &nbsp;&nbsp; 97795 |
| &nbsp;&nbsp;&nbsp; 6.50%, 07/01/54 | &nbsp;&nbsp;&nbsp; 156 | &nbsp;&nbsp; 161517 |
| &nbsp;&nbsp;&nbsp; 6.50%, 11/15/54<sup>(j)</sup> | &nbsp;&nbsp;&nbsp; 1107 | &nbsp;&nbsp; 1146282 |
| &nbsp;&nbsp;&nbsp; 6.50%, 08/01/55 | &nbsp;&nbsp;&nbsp; 258 | &nbsp;&nbsp; 266712 |
| &nbsp;&nbsp;&nbsp; 6.50%, 09/01/55 | &nbsp;&nbsp;&nbsp; 607 | &nbsp;&nbsp; 628141 |
|  |  | &nbsp;&nbsp; 162351928 |
| **U.S. Government Obligations — 18.4%** | **U.S. Government Obligations — 18.4%** | **U.S. Government Obligations — 18.4%** |
| &nbsp;&nbsp;&nbsp; U.S. Treasury Inflation Indexed Note, 1.63%, <br> 04/15/30<br>| &nbsp;&nbsp;&nbsp; 2933 | &nbsp;&nbsp; 2968563 |
| U.S. Treasury Note/Bond |  |  |
| &nbsp;&nbsp;&nbsp; 0.38%, 09/30/27 | &nbsp;&nbsp;&nbsp; 454 | &nbsp;&nbsp; 426862 |
| &nbsp;&nbsp;&nbsp; 0.50%, 02/28/26 | &nbsp;&nbsp;&nbsp; 278 | &nbsp;&nbsp; 274760 |
| &nbsp;&nbsp;&nbsp; 0.50%, 05/31/27 | &nbsp;&nbsp;&nbsp; 823 | &nbsp;&nbsp; 784353 |
| &nbsp;&nbsp;&nbsp; 0.50%, 08/31/27 | &nbsp;&nbsp;&nbsp; 659 | &nbsp;&nbsp; 623064 |
| &nbsp;&nbsp;&nbsp; 0.63%, 07/31/26 | &nbsp;&nbsp;&nbsp; 886 | &nbsp;&nbsp; 865196 |
| &nbsp;&nbsp;&nbsp; 0.75%, 05/31/26 | &nbsp;&nbsp;&nbsp; 306 | &nbsp;&nbsp; 300735 |
| &nbsp;&nbsp;&nbsp; 1.13%, 08/31/28 | &nbsp;&nbsp;&nbsp; 343 | &nbsp;&nbsp; 320383 |
| &nbsp;&nbsp;&nbsp; 1.13%, 08/15/40 | &nbsp;&nbsp;&nbsp; 1145 | &nbsp;&nbsp; 728895 |
| &nbsp;&nbsp;&nbsp; 1.25%, 03/31/28 | &nbsp;&nbsp;&nbsp; 257 | &nbsp;&nbsp; 243386 |
| &nbsp;&nbsp;&nbsp; 1.25%, 05/31/28 | &nbsp;&nbsp;&nbsp; 489 | &nbsp;&nbsp; 460940 |
| &nbsp;&nbsp;&nbsp; 1.25%, 09/30/28 | &nbsp;&nbsp;&nbsp; 174 | &nbsp;&nbsp; 163073 |
| &nbsp;&nbsp;&nbsp; 1.25%, 05/15/50 | &nbsp;&nbsp;&nbsp; 500 | &nbsp;&nbsp; 248437 |
| &nbsp;&nbsp;&nbsp; 1.38%, 11/15/40 | &nbsp;&nbsp;&nbsp; 1145 | &nbsp;&nbsp; 754577 |
| &nbsp;&nbsp;&nbsp; 1.50%, 11/30/28 | &nbsp;&nbsp;&nbsp; 1144 | &nbsp;&nbsp; 1074109 |
| &nbsp;&nbsp;&nbsp; 1.50%, 02/15/30 | &nbsp;&nbsp;&nbsp; 236 | &nbsp;&nbsp; 215931 |
| &nbsp;&nbsp;&nbsp; 1.88%, 11/15/51 | &nbsp;&nbsp;&nbsp; 0 <br><sup>(k)</sup><br>| &nbsp;&nbsp; 172 |
| &nbsp;&nbsp;&nbsp; 2.00%, 11/15/26 | &nbsp;&nbsp;&nbsp; 623 | &nbsp;&nbsp; 612102 |
| &nbsp;&nbsp;&nbsp; 2.25%, 08/15/27 | &nbsp;&nbsp;&nbsp; 203 | &nbsp;&nbsp; 198535 |
| &nbsp;&nbsp;&nbsp; 2.38%, 05/15/27 | &nbsp;&nbsp;&nbsp; 203 | &nbsp;&nbsp; 199480 |
| &nbsp;&nbsp;&nbsp; 2.38%, 03/31/29 | &nbsp;&nbsp;&nbsp; 601 | &nbsp;&nbsp; 577007 |
| &nbsp;&nbsp;&nbsp; 2.63%, 05/31/27 | &nbsp;&nbsp;&nbsp; 920 | &nbsp;&nbsp; 905733 |
| &nbsp;&nbsp;&nbsp; 2.63%, 07/31/29 | &nbsp;&nbsp;&nbsp; 1016 | &nbsp;&nbsp; 979765 |
| &nbsp;&nbsp;&nbsp; 2.75%, 08/15/32 | &nbsp;&nbsp;&nbsp; 678 | &nbsp;&nbsp; 632606 |
| &nbsp;&nbsp;&nbsp; 2.88%, 04/30/29 | &nbsp;&nbsp;&nbsp; 514 | &nbsp;&nbsp; 501311 |
| &nbsp;&nbsp;&nbsp; 2.88%, 05/15/32 | &nbsp;&nbsp;&nbsp; 45 | &nbsp;&nbsp; 42455 |
| &nbsp;&nbsp;&nbsp; 3.13%, 08/31/29 | &nbsp;&nbsp;&nbsp; 800 | &nbsp;&nbsp; 784777 |
| &nbsp;&nbsp;&nbsp; 3.25%, 06/30/27 | &nbsp;&nbsp;&nbsp; 859 | &nbsp;&nbsp; 853866 |
| &nbsp;&nbsp;&nbsp; 3.25%, 06/30/29 | &nbsp;&nbsp;&nbsp; 1048 | &nbsp;&nbsp; 1034271 |
| &nbsp;&nbsp;&nbsp; 3.25%, 05/15/42 | &nbsp;&nbsp;&nbsp; 1470 | &nbsp;&nbsp; 1245653 |
| &nbsp;&nbsp;&nbsp; 3.38%, 09/15/27 | &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 996 |
| &nbsp;&nbsp;&nbsp; 3.50%, 09/30/27 | &nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp; 14971 |
| &nbsp;&nbsp;&nbsp; 3.50%, 01/31/30 | &nbsp;&nbsp;&nbsp; 767 | &nbsp;&nbsp; 761498 |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/31/28 | &nbsp;&nbsp;&nbsp; 1659 | &nbsp;&nbsp; 1660531 |
| &nbsp;&nbsp;&nbsp; 3.63%, 09/30/31 | &nbsp;&nbsp;&nbsp; 969 | &nbsp;&nbsp; 959916 |
| &nbsp;&nbsp;&nbsp; 3.63%, 02/15/53 | &nbsp;&nbsp;&nbsp; 369 | &nbsp;&nbsp; 307792 |
| &nbsp;&nbsp;&nbsp; 3.63%, 05/15/53 | &nbsp;&nbsp;&nbsp; 185 | &nbsp;&nbsp; 153961 |
| &nbsp;&nbsp;&nbsp; 3.75%, 04/15/28 | &nbsp;&nbsp;&nbsp; 42 | &nbsp;&nbsp; 42144 |
| &nbsp;&nbsp;&nbsp; 3.75%, 05/15/28 | &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 29106 |
| &nbsp;&nbsp;&nbsp; 3.75%, 12/31/28 | &nbsp;&nbsp;&nbsp; 721 | &nbsp;&nbsp; 723788 |
| &nbsp;&nbsp;&nbsp; 3.75%, 05/31/30 | &nbsp;&nbsp;&nbsp; 913 | &nbsp;&nbsp; 915068 |
| &nbsp;&nbsp;&nbsp; 3.88%, 05/31/27 | &nbsp;&nbsp;&nbsp; 70 | &nbsp;&nbsp; 70246 |
| &nbsp;&nbsp;&nbsp; 3.88%, 11/30/27 | &nbsp;&nbsp;&nbsp; 914 | &nbsp;&nbsp; 919034 |
| &nbsp;&nbsp;&nbsp; 3.88%, 07/15/28 | &nbsp;&nbsp;&nbsp; 7 | &nbsp;&nbsp; 7049 |
| &nbsp;&nbsp;&nbsp; 3.88%, 11/30/29 | &nbsp;&nbsp;&nbsp; 624 | &nbsp;&nbsp; 628875 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **U.S. Government Obligations (continued)** | **U.S. Government Obligations (continued)** | **U.S. Government Obligations (continued)** |
| &nbsp;&nbsp;&nbsp; 3.88%, 04/30/30 | &nbsp;&nbsp;&nbsp; $2 | &nbsp;&nbsp; $2015 |
| &nbsp;&nbsp;&nbsp; 3.88%, 08/15/34 | &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp; 2965 |
| &nbsp;&nbsp;&nbsp; 3.88%, 02/15/43<sup>(l)</sup> | &nbsp;&nbsp;&nbsp; 1782 | &nbsp;&nbsp; 1631087 |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/15/25 | &nbsp;&nbsp;&nbsp; 675 | &nbsp;&nbsp; 675113 |
| &nbsp;&nbsp;&nbsp; 4.00%, 01/15/27 | &nbsp;&nbsp;&nbsp; 473 | &nbsp;&nbsp; 474161 |
| &nbsp;&nbsp;&nbsp; 4.00%, 12/15/27 | &nbsp;&nbsp;&nbsp; 27 | &nbsp;&nbsp; 27225 |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/29/28 | &nbsp;&nbsp;&nbsp; 615 | &nbsp;&nbsp; 620477 |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/28/30 | &nbsp;&nbsp;&nbsp; 2849 | &nbsp;&nbsp; 2885280 |
| &nbsp;&nbsp;&nbsp; 4.00%, 06/30/32 | &nbsp;&nbsp;&nbsp; 58 | &nbsp;&nbsp; 58451 |
| &nbsp;&nbsp;&nbsp; 4.00%, 07/31/32 | &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp; 17123 |
| &nbsp;&nbsp;&nbsp; 4.00%, 02/15/34 | &nbsp;&nbsp;&nbsp; 919 | &nbsp;&nbsp; 919810 |
| &nbsp;&nbsp;&nbsp; 4.00%, 11/15/52 | &nbsp;&nbsp;&nbsp; 0 <br><sup>(k)</sup><br>| &nbsp;&nbsp; 268 |
| &nbsp;&nbsp;&nbsp; 4.13%, 02/28/27 | &nbsp;&nbsp;&nbsp; 1466 | &nbsp;&nbsp; 1474361 |
| &nbsp;&nbsp;&nbsp; 4.13%, 09/30/27 | &nbsp;&nbsp;&nbsp; 2415 | &nbsp;&nbsp; 2437735 |
| &nbsp;&nbsp;&nbsp; 4.13%, 10/31/27 | &nbsp;&nbsp;&nbsp; 596 | &nbsp;&nbsp; 601960 |
| &nbsp;&nbsp;&nbsp; 4.13%, 10/31/31 | &nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp; 10168 |
| &nbsp;&nbsp;&nbsp; 4.13%, 02/29/32 | &nbsp;&nbsp;&nbsp; 17 | &nbsp;&nbsp; 17271 |
| &nbsp;&nbsp;&nbsp; 4.13%, 03/31/32 | &nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp; 18282 |
| &nbsp;&nbsp;&nbsp; 4.13%, 08/15/44 | &nbsp;&nbsp;&nbsp; 826 | &nbsp;&nbsp; 772836 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/31/26 | &nbsp;&nbsp;&nbsp; 345 | &nbsp;&nbsp; 345272 |
| &nbsp;&nbsp;&nbsp; 4.25%, 12/31/26 | &nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp; 21124 |
| &nbsp;&nbsp;&nbsp; 4.25%, 03/15/27 | &nbsp;&nbsp;&nbsp; 473 | &nbsp;&nbsp; 476154 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/15/28 | &nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp; 28378 |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/31/30 | &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp; 1022 |
| &nbsp;&nbsp;&nbsp; 4.25%, 06/30/31 | &nbsp;&nbsp;&nbsp; 658 | &nbsp;&nbsp; 673730 |
| &nbsp;&nbsp;&nbsp; 4.25%, 11/15/34 | &nbsp;&nbsp;&nbsp; 303 | &nbsp;&nbsp; 307592 |
| &nbsp;&nbsp;&nbsp; 4.25%, 05/15/35 | &nbsp;&nbsp;&nbsp; 134 | &nbsp;&nbsp; 135801 |
| &nbsp;&nbsp;&nbsp; 4.38%, 07/31/26 | &nbsp;&nbsp;&nbsp; 30 | &nbsp;&nbsp; 30127 |
| &nbsp;&nbsp;&nbsp; 4.38%, 12/15/26 | &nbsp;&nbsp;&nbsp; 785 | &nbsp;&nbsp; 790559 |
| &nbsp;&nbsp;&nbsp; 4.38%, 02/15/38 | &nbsp;&nbsp;&nbsp; 3250 | &nbsp;&nbsp; 3297988 |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/15/25 | &nbsp;&nbsp;&nbsp; 249 | &nbsp;&nbsp; 249035 |
| &nbsp;&nbsp;&nbsp; 4.50%, 03/31/26 | &nbsp;&nbsp;&nbsp; 600 | &nbsp;&nbsp; 601615 |
| &nbsp;&nbsp;&nbsp; 4.50%, 07/15/26 | &nbsp;&nbsp;&nbsp; 983 | &nbsp;&nbsp; 988149 |
| &nbsp;&nbsp;&nbsp; 4.50%, 04/15/27 | &nbsp;&nbsp;&nbsp; 1644 | &nbsp;&nbsp; 1663394 |
| &nbsp;&nbsp;&nbsp; 4.50%, 05/15/27 | &nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp; 8101 |
| &nbsp;&nbsp;&nbsp; 4.50%, 12/31/31 | &nbsp;&nbsp;&nbsp; 263 | &nbsp;&nbsp; 272149 |
| &nbsp;&nbsp;&nbsp; 4.63%, 02/28/26 | &nbsp;&nbsp;&nbsp; 29 | &nbsp;&nbsp; 29062 |
| &nbsp;&nbsp;&nbsp; 4.63%, 03/15/26 | &nbsp;&nbsp;&nbsp; 498 | &nbsp;&nbsp; 499428 |
| &nbsp;&nbsp;&nbsp; 4.63%, 06/15/27 | &nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp; 4062 |
| &nbsp;&nbsp;&nbsp; 4.63%, 09/30/28 | &nbsp;&nbsp;&nbsp; 446 | &nbsp;&nbsp; 458561 |
| &nbsp;&nbsp;&nbsp; 4.63%, 02/15/35<sup>(l)</sup> | &nbsp;&nbsp;&nbsp; 15 | &nbsp;&nbsp; 15647 |
| &nbsp;&nbsp;&nbsp; 4.63%, 11/15/44 | &nbsp;&nbsp;&nbsp; 115 | &nbsp;&nbsp; 114861 |
| &nbsp;&nbsp;&nbsp; 4.63%, 02/15/55 | &nbsp;&nbsp;&nbsp; 150 | &nbsp;&nbsp; 148898 |
| &nbsp;&nbsp;&nbsp; 4.75%, 11/15/43 | &nbsp;&nbsp;&nbsp; 171 | &nbsp;&nbsp; 174173 |
| &nbsp;&nbsp;&nbsp; 4.75%, 05/15/55 | &nbsp;&nbsp;&nbsp; 583 | &nbsp;&nbsp; 590652 |
| &nbsp;&nbsp;&nbsp; 4.88%, 04/30/26 | &nbsp;&nbsp;&nbsp; 535 | &nbsp;&nbsp; 537650 |
| &nbsp;&nbsp;&nbsp; 4.88%, 05/31/26 | &nbsp;&nbsp;&nbsp; 28 | &nbsp;&nbsp; 28167 |
| &nbsp;&nbsp;&nbsp; 4.88%, 10/31/30 | &nbsp;&nbsp;&nbsp; 861 | &nbsp;&nbsp; 905613 |
|  |  | &nbsp;&nbsp; 52259524 |
| **Total U.S. Government & Agency Obligations — 76.1%** <br>**(Cost: $214,437,275)** | **Total U.S. Government & Agency Obligations — 76.1%** <br>**(Cost: $214,437,275)** | &nbsp;&nbsp; 215667781 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Common Stocks** | **Common Stocks** | **Common Stocks** |
| **Banks — 0.1%** | **Banks — 0.1%** | **Banks — 0.1%** |
| Comerica Inc. | &nbsp;&nbsp;&nbsp; 53 | &nbsp;&nbsp; 4054 |
| Eagle Bancorp. Inc. | &nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp; 2278 |
| First Citizens BancShares Inc./NC, Class A | &nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp; 38321 |
| First Horizon Corp. | &nbsp;&nbsp;&nbsp; 948 | &nbsp;&nbsp; 20249 |
| Flagstar Bank NA | &nbsp;&nbsp;&nbsp; 6187 | &nbsp;&nbsp; 70656 |
|  |  | &nbsp;&nbsp; 135558 |
| **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** | **Diversified Telecommunication Services — 0.0%** |
| Lumen Technologies Inc.<sup>(m)</sup> | &nbsp;&nbsp;&nbsp; 1677 | &nbsp;&nbsp; 17240 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** | **Energy Equipment & Services — 0.0%** |
| Solaris Energy Infrastructure Inc., Class A | &nbsp;&nbsp;&nbsp; 202 | &nbsp;&nbsp; $10752 |
| **Entertainment — 0.0%** | **Entertainment — 0.0%** | **Entertainment — 0.0%** |
| Warner Bros Discovery Inc.<sup>(m)</sup> | &nbsp;&nbsp;&nbsp; 1313 | &nbsp;&nbsp; 29477 |
| **Health Care Providers & Services — 0.0%** | **Health Care Providers & Services — 0.0%** | **Health Care Providers & Services — 0.0%** |
| Cross Country Healthcare Inc.<sup>(m)</sup> | &nbsp;&nbsp;&nbsp; 54 | &nbsp;&nbsp; 662 |
| **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** | **Hotels, Restaurants & Leisure — 0.0%** |
| Genius Sports Ltd.<sup>(m)</sup> | &nbsp;&nbsp;&nbsp; 2095 | &nbsp;&nbsp; 23590 |
| Six Flags Entertainment Corp.<sup>(m)</sup> | &nbsp;&nbsp;&nbsp; 822 | &nbsp;&nbsp; 18889 |
|  |  | &nbsp;&nbsp; 42479 |
| **Household Durables — 0.0%** | **Household Durables — 0.0%** | **Household Durables — 0.0%** |
| Century Communities Inc. | &nbsp;&nbsp;&nbsp; 293 | &nbsp;&nbsp; 17404 |
| M/I Homes Inc.<sup>(m)</sup> | &nbsp;&nbsp;&nbsp; 74 | &nbsp;&nbsp; 9264 |
| Meritage Homes Corp. | &nbsp;&nbsp;&nbsp; 235 | &nbsp;&nbsp; 15877 |
| Tri Pointe Homes Inc.<sup>(m)</sup> | &nbsp;&nbsp;&nbsp; 514 | &nbsp;&nbsp; 16371 |
|  |  | &nbsp;&nbsp; 58916 |
| **Media — 0.0%** | **Media — 0.0%** | **Media — 0.0%** |
| AMC Networks Inc., Class A<sup>(m)</sup> | &nbsp;&nbsp;&nbsp; 867 | &nbsp;&nbsp; 6572 |
| EchoStar Corp., Class A<sup>(m)</sup> | &nbsp;&nbsp;&nbsp; 1067 | &nbsp;&nbsp; 79886 |
|  |  | &nbsp;&nbsp; 86458 |
| **Metals & Mining — 0.0%** | **Metals & Mining — 0.0%** | **Metals & Mining — 0.0%** |
| Algoma Steel Group Inc. | &nbsp;&nbsp;&nbsp; 2594 | &nbsp;&nbsp; 10817 |
| **Professional Services — 0.0%** | **Professional Services — 0.0%** | **Professional Services — 0.0%** |
| Amentum Holdings Inc.<sup>(m)</sup> | &nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp; 2443 |
| **Total Common Stocks — 0.1%** <br>**(Cost $384,769)** | **Total Common Stocks — 0.1%** <br>**(Cost $384,769)** | &nbsp;&nbsp; 394802 |
| **Investment Companies** | **Investment Companies** | **Investment Companies** |
| **Exchange Traded Funds — 0.3%** | **Exchange Traded Funds — 0.3%** | **Exchange Traded Funds — 0.3%** |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield Corporate Bond <br> ETF<sup>(d)(n)</sup><br>| &nbsp;&nbsp;&nbsp; 10420 | &nbsp;&nbsp; 841936 |
| **Total Investment Companies — 0.3%** <br>**(Cost $836,170)** | **Total Investment Companies — 0.3%** <br>**(Cost $836,170)** | &nbsp;&nbsp; 841936 |
| **Preferred Stocks** | **Preferred Stocks** | **Preferred Stocks** |
| **Aerospace & Defense — 0.0%** | **Aerospace & Defense — 0.0%** | **Aerospace & Defense — 0.0%** |
| Boeing Co. (The), 6.00%<sup>(o)</sup> | &nbsp;&nbsp;&nbsp; 250 | &nbsp;&nbsp; 16180 |
| **Total Preferred Stocks — 0.0%** <br>**(Cost $12,500)** | **Total Preferred Stocks — 0.0%** <br>**(Cost $12,500)** | &nbsp;&nbsp; 16180 |
| **Total Long-Term Investments — 137.3%** <br>**(Cost: $385,634,917)** | **Total Long-Term Investments — 137.3%** <br>**(Cost: $385,634,917)** | &nbsp;&nbsp; 389362901 |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 3.6%** | **Money Market Funds — 3.6%** | **Money Market Funds — 3.6%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL <br> Agency Shares, 4.27%<sup>(n)(p)</sup><br>| &nbsp;&nbsp;&nbsp; 8545740 | &nbsp;&nbsp; 8550012 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares, 4.05%<sup>(n)(p)(q)</sup><br>| &nbsp;&nbsp;&nbsp; 1644491 | &nbsp;&nbsp; 1644491 |
| **Total Short-Term Securities — 3.6%** <br>**(Cost: $10,194,503)** | **Total Short-Term Securities — 3.6%** <br>**(Cost: $10,194,503)** | &nbsp;&nbsp; 10194503 |
| **Options Purchased — 0.0%** <br>**(Cost: $30,527)** | **Options Purchased — 0.0%** <br>**(Cost: $30,527)** | &nbsp;&nbsp; 28072 |
| **Total Investments — 140.9%** <br>**(Cost: $395,859,947)** | **Total Investments — 140.9%** <br>**(Cost: $395,859,947)** | &nbsp;&nbsp; 399585476 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **TBA Sales Commitments**<sup>(j)</sup> | **TBA Sales Commitments**<sup>(j)</sup> | **TBA Sales Commitments**<sup>(j)</sup> |
| **Mortgage-Backed Securities — (27.4)%** | **Mortgage-Backed Securities — (27.4)%** | **Mortgage-Backed Securities — (27.4)%** |
| Government National Mortgage Association |  |  |
| &nbsp;&nbsp;&nbsp; 2.00%, 11/20/55 | &nbsp;&nbsp;&nbsp; (1622)<br>| &nbsp;&nbsp; $(1348740)<br>|
| &nbsp;&nbsp;&nbsp; 2.50%, 11/20/55 | &nbsp;&nbsp;&nbsp; (1524)<br>| &nbsp;&nbsp; (1318914)<br>|
| &nbsp;&nbsp;&nbsp; 3.50%, 11/20/55 | &nbsp;&nbsp;&nbsp; (133)<br>| &nbsp;&nbsp; (121724)<br>|
| &nbsp;&nbsp;&nbsp; 6.50%, 11/15/54 | &nbsp;&nbsp;&nbsp; (534)<br>| &nbsp;&nbsp; (550819)<br>|
| Uniform Mortgage-Backed Securities |  |  |
| &nbsp;&nbsp;&nbsp; 2.50%, 11/18/40 | &nbsp;&nbsp;&nbsp; (6)<br>| &nbsp;&nbsp; (5643)<br>|
| &nbsp;&nbsp;&nbsp; 3.00%, 11/18/40 | &nbsp;&nbsp;&nbsp; (4)<br>| &nbsp;&nbsp; (3832)<br>|
| &nbsp;&nbsp;&nbsp; 3.50%, 12/11/55 | &nbsp;&nbsp;&nbsp; (2453)<br>| &nbsp;&nbsp; (2259601)<br>|
| &nbsp;&nbsp;&nbsp; 4.00%, 11/15/39 | &nbsp;&nbsp;&nbsp; (2)<br>| &nbsp;&nbsp; (1968)<br>|
| &nbsp;&nbsp;&nbsp; 4.50%, 11/15/39 | &nbsp;&nbsp;&nbsp; (3)<br>| &nbsp;&nbsp; (2995)<br>|
| &nbsp;&nbsp;&nbsp; 5.00%, 11/13/55 | &nbsp;&nbsp;&nbsp; (3708)<br>| &nbsp;&nbsp; (3689041)<br>|
| &nbsp;&nbsp;&nbsp; 5.50%, 11/15/54 | &nbsp;&nbsp;&nbsp; (14352)<br>| &nbsp;&nbsp; (14499778)<br>|
| &nbsp;&nbsp;&nbsp; 6.00%, 11/15/54 | &nbsp;&nbsp;&nbsp; (18359)<br>| &nbsp;&nbsp; (18773123)<br>|
| &nbsp;&nbsp;&nbsp; 6.50%, 11/15/54 | &nbsp;&nbsp;&nbsp; (506)<br>| &nbsp;&nbsp; (523955)<br>|
| &nbsp;&nbsp;&nbsp; 2.00%, 11/18/40 | &nbsp;&nbsp;&nbsp; (30)<br>| &nbsp;&nbsp; (27607)<br>|
| &nbsp;&nbsp;&nbsp; 2.00%, 11/13/55 | &nbsp;&nbsp;&nbsp; (109)<br>| &nbsp;&nbsp; (88371)<br>|
| &nbsp;&nbsp;&nbsp; 2.50%, 11/13/55 | &nbsp;&nbsp;&nbsp; (68)<br>| &nbsp;&nbsp; (57723)<br>|
| &nbsp;&nbsp;&nbsp; 3.00%, 11/13/55 | &nbsp;&nbsp;&nbsp; (833)<br>| &nbsp;&nbsp; (737986)<br>|
| &nbsp;&nbsp;&nbsp; 3.50%, 11/13/55 | &nbsp;&nbsp;&nbsp; (21943)<br>| &nbsp;&nbsp; (20228398)<br>|
| &nbsp;&nbsp;&nbsp; 4.00%, 11/13/55 | &nbsp;&nbsp;&nbsp; (2146)<br>| &nbsp;&nbsp; (2035926)<br>|
| &nbsp;&nbsp;&nbsp; 4.50%, 11/13/55 | &nbsp;&nbsp;&nbsp; (11851)<br>| &nbsp;&nbsp; (11550239)<br>|
| **Total TBA Sales Commitments — (27.4)%** <br>**(Proceeds: $(78029441))** | **Total TBA Sales Commitments — (27.4)%** <br>**(Proceeds: $(78029441))** | &nbsp;&nbsp; (77826383)<br>|
| **Options Written — (0.0%)** <br>**(Premiums Received: $(159720))** | **Options Written — (0.0%)** <br>**(Premiums Received: $(159720))** | &nbsp;&nbsp; (132567)<br>|
| **Total Investments — 113.5%** <br>**(Cost: $317,670,786)** | **Total Investments — 113.5%** <br>**(Cost: $317,670,786)** | &nbsp;&nbsp; 321626526 |
| **Liabilities in Excess of Other Assets — (13.5)%** | **Liabilities in Excess of Other Assets — (13.5)%** | &nbsp;&nbsp; (38074477)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | &nbsp;&nbsp; $283552049 |

---

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

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

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

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

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

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

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

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

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

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

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

<sup>(k)</sup> Rounds to less than 1,000.

<sup>(l)</sup> All or a portion of the security has been pledged as collateral in connection with outstanding TBA commitments. 

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

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

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

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

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

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

**Affiliates**

Investments in issuers considered to be affiliate(s) of the Fund during the period ended October 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*07/31/25*<br>| *Purchases* <br>*at Cost*<br>| *Proceeds* <br>*from Sales*<br>| &nbsp;&nbsp; *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*10/31/25*<br>| *Shares* <br>*Held at* <br>*10/31/25*<br>| *Income* | &nbsp;&nbsp; *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares<br>| $4402822 | $4146635 <br><sup>(a)</sup><br>| $— | $555 | $— | $8550012 | 8545740 | $43850 | $— |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| &nbsp;&nbsp; 2623387 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; (978896 )<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp; 1644491 | 1644491 | 3765 <br><sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
| iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp;&nbsp;&nbsp; 837560 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4376 | &nbsp;&nbsp;&nbsp;&nbsp; 841936 | 10420 | &nbsp;&nbsp; 12182 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  |  | $555 | $4376 | $11036439 |  | $59797 | $— |

---

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

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

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

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

**Futures Contracts** 

---

| | | | | |
|:---|:---|:---|:---|:---|
| *Description* | &nbsp;&nbsp; *Number of* <br>*Contracts*<br>| &nbsp;&nbsp; *Expiration* <br>*Date*<br>| *Notional* <br>*Amount* <br>*(000)*<br>| &nbsp;&nbsp; *Value/* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| Long Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 10-Year Australian Treasury Bond | 14 | 12/15/25 | &nbsp;&nbsp; $1041 | $(3714) |
| &nbsp;&nbsp;&nbsp; 3-Year Australian Treasury Bonds | 40 | 12/15/25 | &nbsp;&nbsp; 2793 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4391) |
| &nbsp;&nbsp;&nbsp; 10-Year U.S. Treasury Note | 31 | 12/19/25 | &nbsp;&nbsp; 3495 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16304) |
| &nbsp;&nbsp;&nbsp; U.S. Long Bond | 58 | 12/19/25 | &nbsp;&nbsp; 6811 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (16861) |
| &nbsp;&nbsp;&nbsp; U.S. Ultra Bond | 99 | 12/19/25 | &nbsp;&nbsp; 12019 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 171527 |
| &nbsp;&nbsp;&nbsp; 5-Year U.S. Treasury Note | 277 | 12/31/25 | &nbsp;&nbsp; 30264 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (87705) |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42552 |
| Short Contracts |  |  |  |  |
| &nbsp;&nbsp;&nbsp; 30-Year Euro Buxl Bond | 1 | 12/08/25 | &nbsp;&nbsp; 134 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2007) |
| &nbsp;&nbsp;&nbsp; Euro BOBL | 6 | 12/08/25 | &nbsp;&nbsp; 818 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1112) |
| &nbsp;&nbsp;&nbsp; 10-Year U.S. Ultra Treasury Note | 22 | 12/19/25 | &nbsp;&nbsp; 2542 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4533 |
| &nbsp;&nbsp;&nbsp; E-Mini Russell 2000 Index | 2 | 12/19/25 | &nbsp;&nbsp; 249 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2565) |
| &nbsp;&nbsp;&nbsp; 2-Year U.S. Treasury Note | 29 | 12/31/25 | &nbsp;&nbsp; 6040 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6434 |
|  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5283 |
|  |  |  |  | $47835 |

---

**Forward Foreign Currency Exchange Contracts** 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| EGP | 571032 | USD | 12000 | Citibank N.A. | 11/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $21 |
| BRL | 5196062 | USD | 957016 | BNP Paribas SA | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3509 |
| USD | 1003316 | BRL | 5395834 | Goldman Sachs & Co. | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5862 |
| USD | 17757 | CNH | 126274 | Goldman Sachs & Co. | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4 |
| USD | 4078 | CNH | 28953 | Morgan Stanley & Co. International PLC | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8 |
| USD | 230696 | MXN | 4256480 | Goldman Sachs & Co. | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2091 |
| COP | 97706216 | GBP | 19000 | BNP Paribas SA | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307 |
| COP | 275327871 | USD | 70833 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 371 |
| USD | 33739 | AUD | 51376 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 115 |
| USD | 23222 | CAD | 32220 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 223 |
| USD | 14000 | CAD | 19425 | BNP Paribas SA | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 134 |
| USD | 109571 | EUR | 94287 | BNP Paribas SA | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 757 |
| USD | 9025 | EUR | 7729 | Goldman Sachs & Co. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 105 |
| USD | 21000 | SGD | 27106 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 27588 | SGD | 35611 | Goldman Sachs & Co. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $182 |
| USD | 42661 | ZAR | 740701 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| NGN | 30840050 | USD | 21269 | Citibank N.A. | 12/05/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187 |
| BRL | 9820550 | USD | 1798119 | BNP Paribas SA | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8623 |
| BRL | 5293879 | USD | 957016 | UBS AG | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16928 |
| COP | 2074120734 | USD | 527154 | Morgan Stanley & Co. International PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7758 |
| MXN | 9524113 | USD | 507000 | Goldman Sachs & Co. | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3337 |
| PEN | 1153820 | USD | 339000 | Bank of America N.A. | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3286 |
| USD | 9854 | AUD | 15000 | BNP Paribas SA | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 35 |
| USD | 363738 | EUR | 309000 | Barclays Bank PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6700 |
| USD | 3441051 | EUR | 2922100 | Morgan Stanley & Co. International PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64675 |
| USD | 281945 | GBP | 208300 | Barclays Bank PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8287 |
| USD | 362 | JPY | 55000 | Barclays Bank PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3 |
| USD | 869654 | JPY | 126934723 | Morgan Stanley & Co. International PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42441 |
| USD | 116579 | JPY | 17035000 | UBS AG | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5565 |
| USD | 507000 | MXN | 9375494 | Bank of America N.A. | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4626 |
| ZAR | 7737062 | USD | 442449 | Barclays Bank PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2495 |
| TRY | 560575 | USD | 12765 | Barclays Bank PLC | 12/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10 |
| NGN | 31515979 | USD | 21269 | Citibank N.A. | 01/30/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 291 |
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 189078 |
| EGP | 964142 | USD | 20302 | Citibank N.A. | 11/20/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(6)<br>|
| MXN | 9352657 | USD | 507000 | Bank of America N.A. | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4691)<br>|
| USD | 1798119 | BRL | 9762777 | BNP Paribas SA | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (6593)<br>|
| USD | 527154 | COP | 2067636735 | Morgan Stanley & Co. International PLC | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7648)<br>|
| USD | 339000 | PEN | 1152939 | Bank of America N.A. | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3252)<br>|
| USD | 442449 | ZAR | 7725202 | Barclays Bank PLC | 11/25/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2482)<br>|
| CAD | 15000 | JPY | 1652510 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38)<br>|
| CHF | 29555 | USD | 37241 | Goldman Sachs & Co. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (421)<br>|
| CLP | 59899926 | USD | 63781 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (220)<br>|
| CNH | 2177063 | USD | 307599 | BNP Paribas SA | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1508)<br>|
| CZK | 1314855 | USD | 63000 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (688)<br>|
| CZK | 3528957 | USD | 169116 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1876)<br>|
| EUR | 17962 | HUF | 6999279 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44)<br>|
| EUR | 18000 | HUF | 7013996 | BNP Paribas SA | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (44)<br>|
| EUR | 73715 | USD | 85868 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (794)<br>|
| EUR | 20000 | USD | 23142 | Goldman Sachs & Co. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (60)<br>|
| GBP | 20000 | USD | 26480 | Goldman Sachs & Co. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (205)<br>|
| HUF | 30861582 | USD | 92498 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (903)<br>|
| HUF | 8675455 | USD | 26000 | Goldman Sachs & Co. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (252)<br>|
| IDR | 5220641184 | USD | 315561 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1676)<br>|
| INR | 31329794 | USD | 354109 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1594)<br>|
| JPY | 1639242 | CAD | 15000 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (48)<br>|
| JPY | 3114693 | USD | 20524 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (270)<br>|
| MXN | 2031330 | USD | 110000 | Goldman Sachs & Co. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (914)<br>|
| MYR | 1390703 | USD | 333582 | Morgan Stanley & Co. International PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1304)<br>|
| PHP | 2421602 | USD | 41282 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (47)<br>|
| PLN | 557457 | USD | 153361 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2437)<br>|
| THB | 11208718 | USD | 347638 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (393)<br>|
| USD | 13000 | COP | 50531000 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (68)<br>|
| USD | 11000 | TRY | 471592 | Barclays Bank PLC | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (20)<br>|
| ZAR | 3887367 | USD | 226875 | Citibank N.A. | 11/26/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (2998)<br>|
| BRL | 199190 | USD | 37000 | Citibank N.A. | 12/02/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (242)<br>|
| CNH | 8650414 | USD | 1223000 | BNP Paribas SA | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5040)<br>|
| EUR | 1500000 | USD | 1751921 | Citibank N.A. | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (18728)<br>|
| EUR | 268000 | USD | 315241 | UBS AG | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5577)<br>|
| GBP | 166000 | USD | 223016 | Citibank N.A. | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4930)<br>|
| JPY | 147920000 | USD | 990206 | UBS AG | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (26235)<br>|

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| *Currency Purchased* | *Currency Purchased* | *Currency Sold* | *Currency Sold* | *Counterparty* | *Settlement Date* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| USD | 957016 | BRL | 5226811 | BNP Paribas SA | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $(4589)<br>|
| USD | 1772770 | BRL | 9806345 | UBS AG | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (31357)<br>|
| USD | 516314 | COP | 2044834544 | Morgan Stanley & Co. International PLC | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11046)<br>|
| USD | 339000 | PEN | 1181008 | Bank of America N.A. | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (11351)<br>|
| USD | 438231 | ZAR | 7713000 | Goldman Sachs & Co. | 12/17/25 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5330)<br>|
| ARS | 12531740 | USD | 7982 | Citibank N.A. | 01/26/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (166)<br>|
| USD | 70784 | BRL | 395000 | Goldman Sachs & Co. | 04/02/26 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (154)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (168239)<br>|
|  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $20839 |

---

**OTC Interest Rate Swaptions Purchased** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | *Paid by the Fund* | *Paid by the Fund* | *Received by the Fund* | *Received by the Fund* |  |  |  |  |  |  |
| *Description* | *Rate* | *Frequency* | *Rate* | *Frequency* | *Counterparty* | *Expiration* <br>*Date*<br>| *Exercise* <br>*Rate*<br>| &nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |  |  |  |
| 30-Year Interest Rate Swap, 05/02/56 | &nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| Annual | 3.55% | Annual | Bank of America N.A. | 04/30/26 | 3.55 | USD | 2396 | $28072 |

---

**Exchange-Traded Options Written** 

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Number of* <br>*Contracts*<br>| *Expiration* <br>*Date*<br>| *Exercise* <br>*Price* | *Exercise* <br>*Price* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield Corporate Bond ETF | &nbsp;&nbsp; 243 | &nbsp;&nbsp; 01/16/26 | &nbsp;&nbsp; USD | 82.00 | USD | 1963 | &nbsp;&nbsp; $(2916)<br>|

---

**OTC Interest Rate Swaptions Written** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Description* | *Paid by the Fund* | *Paid by the Fund* | *Received by the Fund* | *Received by the Fund* | *Counterparty* | *Expiration* | *Exercise* | *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* |
| *Description* | *Rate* | *Frequency* | *Rate* | *Frequency* | *Counterparty* | *Expiration* | *Exercise* | *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* |
| Call |  |  |  |  |  |  |  |  |  |  |
| 10-Year Interest Rate Swap, 12/17/35 | 3.39% | Annual | 1-day SOFR, <br> 4.22%<br>| Annual | Citibank N.A. | 12/15/25 | 3.39 | USD | 2970 | $(4432)<br>|
| 10-Year Interest Rate Swap, 01/01/36 | 3.30% | Annual | 1-day SOFR, <br> 4.22%<br>| Annual | Barclays Bank PLC | 12/30/25 | 3.30 | USD | 1497 | (2146)<br>|
| 10-Year Interest Rate Swap, 01/16/36 | 3.20% | Annual | 1-day SOFR, <br> 4.22%<br>| Annual | Goldman Sachs Inter-<br> national<br>| 01/14/26 | 3.20 | USD | 2948 | (3814)<br>|
| 30-Year Interest Rate Swap, 05/02/56 | 3.25% | Annual | 1-day SOFR, <br> 4.22%<br>| Annual | Bank of America N.A. | 04/30/26 | 3.25 | USD | 2396 | (10932)<br>|
|  |  |  |  |  |  |  |  |  |  | (21324)<br>|
| Put |  |  |  |  |  |  |  |  |  |  |
| 10-Year Interest Rate Swap, 01/01/36 | &nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| Annual | 4.00% | Annual | Barclays Bank PLC | 12/30/25 | 4.00 | USD | 1497 | (2365)<br>|
| 10-Year Interest Rate Swap, 04/25/36 | &nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| Annual | 4.00% | Annual | Citibank N.A. | 04/23/26 | 4.00 | USD | 2087 | (16257)<br>|
| 2-Year Interest Rate Swap, 09/22/29 | &nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| Annual | 4.30% | Annual | Goldman Sachs Inter-<br> national<br>| 09/20/27 | 4.30 | USD | 11936 | (31406)<br>|
| 2-Year Interest Rate Swap, 10/06/29 | &nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| Annual | 4.05% | Annual | Goldman Sachs Inter-<br> national<br>| 10/04/27 | 4.05 | USD | 15959 | (58299)<br>|
|  |  |  |  |  |  |  |  |  |  | (108327)<br>|
|  |  |  |  |  |  |  |  |  |  | $(129651)<br>|

---

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing* <br>*Rate Received* <br>*by the Fund*<br>| &nbsp;&nbsp;&nbsp; *Payment* <br>*Frequency*<br>| &nbsp;&nbsp;&nbsp; *Termination* <br>*Date*<br>| &nbsp;&nbsp;&nbsp; *Credit* <br>*Rating*<br>| &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | &nbsp;&nbsp;&nbsp; *Notional* <br>*Amount (000)* | *Value* | &nbsp;&nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Received)*<br>| &nbsp;&nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
| CDX.NA.HY.44.V1 | 5.00<br> %<br>| Quarterly | 06/20/30 | B+ | USD | 7612 | $617247 | $332559 | $284688 |
| iTraxx.XO.44.V1 | 5.00 | Quarterly | 12/20/30 | BB- | EUR | 3808 | 479928 | 469504 | 10424 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

**Centrally Cleared Credit Default Swaps — Sell Protection (continued)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Reference Obligation/Index* | *Financing*<br> *Rate Received*<br> *by the Fund*<br>| &nbsp;&nbsp;&nbsp; *Payment*<br> *Frequency*<br>| &nbsp;&nbsp;&nbsp; *Termination*<br> *Date*<br>| &nbsp;&nbsp;&nbsp; *Credit*<br> *Rating*<br>| &nbsp;&nbsp;&nbsp; *Notional*<br> *Amount (000)* | *Value* | &nbsp;&nbsp;&nbsp; *Upfront*<br> *Premium*<br> *Paid*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(Received)*<br>| &nbsp;&nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)*<br>|
|  |  |  |  |  |  | $1097175 | $802063 | $295112 |

---

**Centrally Cleared Interest Rate Swaps** 

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Effective* <br>*Date* | *Termination* <br>*Date* |  | *Notional* <br>*Amount* <br>*(000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)* | *Unrealized* <br>*Appreciation* <br>*(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Effective* <br>*Date* | *Termination* <br>*Date* |  | *Notional* <br>*Amount* <br>*(000)* | *Value* | *Upfront* <br>*Premium* <br>*Paid* <br>*(Received)* | *Unrealized* <br>*Appreciation* <br>*(Depreciation)* |
| 3.79% | At Termination | &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| At Termination | N/A | &nbsp;&nbsp;&nbsp; 05/16/26 | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 3452 | &nbsp;&nbsp;&nbsp; $10176 | &nbsp;&nbsp;&nbsp; $4 | &nbsp;&nbsp;&nbsp; $10172 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| At Termination | 3.79% | At Termination | N/A | &nbsp;&nbsp;&nbsp; 05/16/26 | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1139 | &nbsp;&nbsp;&nbsp; (3395)<br>| &nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp; (3396)<br>|
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| At Termination | 3.79% | At Termination | N/A | &nbsp;&nbsp;&nbsp; 05/16/26 | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 2313 | &nbsp;&nbsp;&nbsp; (6905)<br>| &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; (6907)<br>|
| 3.81% | At Termination | &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| At Termination | N/A | &nbsp;&nbsp;&nbsp; 05/16/26 | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 2649 | &nbsp;&nbsp;&nbsp; 7267 | &nbsp;&nbsp;&nbsp; 1032 | &nbsp;&nbsp;&nbsp; 6235 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| At Termination | 3.91% | At Termination | N/A | &nbsp;&nbsp;&nbsp; 05/16/26 | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 2649 | &nbsp;&nbsp;&nbsp; (4646)<br>| &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; (4649)<br>|
| 1.00% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.47%<br>| At Termination | 3/12/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 03/12/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 244490 | &nbsp;&nbsp;&nbsp; (1549)<br>| &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; (1555)<br>|
| 1.02% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.47%<br>| At Termination | 3/12/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 03/12/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 554284 | &nbsp;&nbsp;&nbsp; (4258)<br>| &nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp; (4270)<br>|
| 1.03% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.47%<br>| At Termination | 3/12/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 03/12/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 658313 | &nbsp;&nbsp;&nbsp; (5396)<br>| &nbsp;&nbsp;&nbsp; (192)<br>| &nbsp;&nbsp;&nbsp; (5204)<br>|
| 0.68% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.47%<br>| At Termination | 4/21/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 04/21/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 244724 | &nbsp;&nbsp;&nbsp; 4007 | &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp; 4002 |
| 0.69% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.47%<br>| At Termination | 4/21/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 04/21/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 247585 | &nbsp;&nbsp;&nbsp; 4023 | &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; 4017 |
| 0.80% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| At Termination | 4/21/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 04/21/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 130000 | &nbsp;&nbsp;&nbsp; 1144 | &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; 1141 |
| 0.85% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| At Termination | 4/21/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 04/21/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp; 1455 | &nbsp;&nbsp;&nbsp; 643 | &nbsp;&nbsp;&nbsp; 812 |
| 0.70% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.47%<br>| At Termination | 5/11/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 05/11/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 195427 | &nbsp;&nbsp;&nbsp; 3251 | &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp; 3246 |
| 0.79% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| At Termination | 5/11/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 05/11/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp; 1381 | &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; 1379 |
| 0.79% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| At Termination | 5/11/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 05/11/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp; 2957 | &nbsp;&nbsp;&nbsp; 669 | &nbsp;&nbsp;&nbsp; 2288 |
| 0.86% | At Termination | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| At Termination | 7/3/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 07/02/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 275000 | &nbsp;&nbsp;&nbsp; 2641 | &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; 2635 |
| &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| At Termination | 1.01% | At Termination | 9/11/2026<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 09/11/27 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 193480 | &nbsp;&nbsp;&nbsp; (670)<br>| &nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp; (676)<br>|
| &nbsp;&nbsp;&nbsp; 3-mo. KRW CDC, <br> 2.55%<br>| Quarterly | 2.69% | Quarterly | 12/17/2025<sup>(a)</sup> <br>| &nbsp;&nbsp;&nbsp; 12/17/28 | &nbsp;&nbsp;&nbsp; KRW | &nbsp;&nbsp;&nbsp; 373003 | &nbsp;&nbsp;&nbsp; 95 | &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; 93 |
| 1.29% | Annual | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| Annual | N/A | &nbsp;&nbsp;&nbsp; 08/13/35 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 22362 | &nbsp;&nbsp;&nbsp; 2193 | &nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp; 2190 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| *Rate* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Effective*<br> *Date* | *Termination*<br> *Date* |  | *Notional*<br> *Amount*<br> *(000)* | *Value* | *Upfront*<br> *Premium*<br> *Paid*<br> *(Received)* | *Unrealized*<br> *Appreciation*<br> *(Depreciation)* |
| 1.30% | Annual | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| Annual | N/A | &nbsp;&nbsp;&nbsp; 08/13/35 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 40070 | &nbsp;&nbsp;&nbsp; $3764 | &nbsp;&nbsp;&nbsp; $4 | &nbsp;&nbsp;&nbsp; $3760 |
| 1.30% | Annual | &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| Annual | N/A | &nbsp;&nbsp;&nbsp; 08/13/35 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 40312 | &nbsp;&nbsp;&nbsp; 3805 | &nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; 3801 |
| &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| Annual | 2.03% | Annual | N/A | &nbsp;&nbsp;&nbsp; 08/12/45 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 14051 | &nbsp;&nbsp;&nbsp; (1457)<br>| &nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp; (1459)<br>|
| &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| Annual | 2.04% | Annual | N/A | &nbsp;&nbsp;&nbsp; 08/12/45 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 22450 | &nbsp;&nbsp;&nbsp; (2174)<br>| &nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp; (2179)<br>|
| &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| Annual | 2.04% | Annual | N/A | &nbsp;&nbsp;&nbsp; 08/12/45 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 22579 | &nbsp;&nbsp;&nbsp; (2193)<br>| &nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp; (2197)<br>|
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| Annual | 3.93% | Annual | N/A | &nbsp;&nbsp;&nbsp; 10/08/45 | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 965 | &nbsp;&nbsp;&nbsp; (7019)<br>| &nbsp;&nbsp;&nbsp; (6990)<br>| &nbsp;&nbsp;&nbsp; (29)<br>|
| &nbsp;&nbsp;&nbsp; Tokyo Overnight <br> Average Rate, <br> 0.48%<br>| Annual | 2.52% | Annual | N/A | &nbsp;&nbsp;&nbsp; 10/06/55 | &nbsp;&nbsp;&nbsp; JPY | &nbsp;&nbsp;&nbsp; 136200 | &nbsp;&nbsp;&nbsp; 11540 | &nbsp;&nbsp;&nbsp; (167)<br>| &nbsp;&nbsp;&nbsp; 11707 |
| &nbsp;&nbsp;&nbsp; 1-day SOFR, <br> 4.22%<br>| Annual | 3.97% | Annual | N/A | &nbsp;&nbsp;&nbsp; 10/08/55 | &nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp; 1030 | &nbsp;&nbsp;&nbsp; 3630 | &nbsp;&nbsp;&nbsp; 2205 | &nbsp;&nbsp;&nbsp; 1425 |
|  |  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp; $23667 | &nbsp;&nbsp;&nbsp; $(2715)<br>| &nbsp;&nbsp;&nbsp; $26382 |

---

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

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

**Centrally Cleared Inflation Swaps** 

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Termination* <br>*Date* | &nbsp;&nbsp; *Notional* <br>*Amount* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(000)* | &nbsp;&nbsp; *Notional* <br>*Amount* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(000)* | *Value* | &nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Received)* | &nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)* |
| *Reference* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Termination* <br>*Date* | &nbsp;&nbsp; *Notional* <br>*Amount* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(000)* | &nbsp;&nbsp; *Notional* <br>*Amount* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(000)* | *Value* | &nbsp;&nbsp; *Upfront* <br>*Premium* <br>*Paid* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Received)* | &nbsp;&nbsp; *Unrealized* <br>*Appreciation* <br>&nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)* |
| &nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | 3.28% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 721 | &nbsp;&nbsp;&nbsp;&nbsp; $558 | &nbsp;&nbsp;&nbsp;&nbsp; $6 | &nbsp;&nbsp;&nbsp;&nbsp; $552 |
| &nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | 3.30% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 736 | &nbsp;&nbsp;&nbsp;&nbsp; 945 | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 939 |
| &nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | 3.32% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1441 | &nbsp;&nbsp;&nbsp;&nbsp; 2312 | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 2301 |
| &nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | 3.43% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 707 | &nbsp;&nbsp;&nbsp;&nbsp; 3167 | &nbsp;&nbsp;&nbsp;&nbsp; 13 | &nbsp;&nbsp;&nbsp;&nbsp; 3154 |
| &nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | 3.26% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 08/15/27 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1203 | &nbsp;&nbsp;&nbsp;&nbsp; 2835 | &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; 2825 |
| &nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | 2.63% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 1620 | &nbsp;&nbsp;&nbsp;&nbsp; (10378)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (16017)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5639 |
| 2.69% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 75 | &nbsp;&nbsp;&nbsp;&nbsp; 238 | &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; 227 |
| 2.69% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 125 | &nbsp;&nbsp;&nbsp;&nbsp; 420 | &nbsp;&nbsp;&nbsp;&nbsp; 21 | &nbsp;&nbsp;&nbsp;&nbsp; 399 |
| 2.73% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 210 | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 199 |
| 2.73% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 82 | &nbsp;&nbsp;&nbsp;&nbsp; 109 | &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; 108 |
| 2.76% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 137 | &nbsp;&nbsp;&nbsp;&nbsp; (54)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; (55)<br>|

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

**Centrally Cleared Inflation Swaps (continued)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Termination*<br> *Date* | &nbsp;&nbsp; *Notional*<br> *Amount*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(000)* | &nbsp;&nbsp; *Notional*<br> *Amount*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(000)* | *Value* | &nbsp;&nbsp; *Upfront*<br> *Premium*<br> *Paid*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(Received)* | &nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)* |
| *Reference* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Termination*<br> *Date* | &nbsp;&nbsp; *Notional*<br> *Amount*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(000)* | &nbsp;&nbsp; *Notional*<br> *Amount*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(000)* | *Value* | &nbsp;&nbsp; *Upfront*<br> *Premium*<br> *Paid*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(Received)* | &nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)* |
| 2.79% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 229 | &nbsp;&nbsp;&nbsp;&nbsp; $(429)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $1 | &nbsp;&nbsp;&nbsp;&nbsp; $(430)<br>|
| 2.83% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp; (639)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 2 | &nbsp;&nbsp;&nbsp;&nbsp; (641)<br>|
| 2.83% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 164 | &nbsp;&nbsp;&nbsp;&nbsp; (666)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (363)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (303)<br>|
| 2.84% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp; (327)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (327)<br>|
| 2.84% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 77 | &nbsp;&nbsp;&nbsp;&nbsp; (325)<br>| &nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; (325)<br>|
| 2.87% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 154 | &nbsp;&nbsp;&nbsp;&nbsp; (923)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; (924)<br>|
| 2.88% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/28 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 136 | &nbsp;&nbsp;&nbsp;&nbsp; (882)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1 | &nbsp;&nbsp;&nbsp;&nbsp; (883)<br>|
| 2.53% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 239 | &nbsp;&nbsp;&nbsp;&nbsp; 1018 | &nbsp;&nbsp;&nbsp;&nbsp; (44)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 1062 |
| 2.54% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 389 | &nbsp;&nbsp;&nbsp;&nbsp; 1561 | &nbsp;&nbsp;&nbsp;&nbsp; 829 | &nbsp;&nbsp;&nbsp;&nbsp; 732 |
| 2.56% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 530 | &nbsp;&nbsp;&nbsp;&nbsp; 1467 | &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; 1461 |
| 2.56% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 280 | &nbsp;&nbsp;&nbsp;&nbsp; 765 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 762 |
| &nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | 2.58% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 1700 | &nbsp;&nbsp;&nbsp;&nbsp; (3490)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (10814)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 7324 |
| 2.62% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 450 | &nbsp;&nbsp;&nbsp;&nbsp; (36)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; (41)<br>|
| 2.64% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 492 | &nbsp;&nbsp;&nbsp;&nbsp; (570)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; (576)<br>|
| 2.65% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 328 | &nbsp;&nbsp;&nbsp;&nbsp; (494)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; (498)<br>|
| 2.67% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 322 | &nbsp;&nbsp;&nbsp;&nbsp; (827)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 4 | &nbsp;&nbsp;&nbsp;&nbsp; (831)<br>|
| 2.68% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 246 | &nbsp;&nbsp;&nbsp;&nbsp; (809)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; (812)<br>|
| 2.69% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 892 | &nbsp;&nbsp;&nbsp;&nbsp; (3087)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (401)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (2686)<br>|
| 2.69% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 497 | &nbsp;&nbsp;&nbsp;&nbsp; (1658)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (55)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (1603)<br>|
| 2.72% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 492 | &nbsp;&nbsp;&nbsp;&nbsp; (2581)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 6 | &nbsp;&nbsp;&nbsp;&nbsp; (2587)<br>|

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

**Centrally Cleared Inflation Swaps (continued)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| Paid by the Fund | Paid by the Fund | Received by the Fund | Received by the Fund | &nbsp;&nbsp; *Termination*<br> *Date* | &nbsp;&nbsp; *Notional*<br> *Amount*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(000)* | &nbsp;&nbsp; *Notional*<br> *Amount*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(000)* | *Value* | &nbsp;&nbsp; *Upfront*<br> *Premium*<br> *Paid*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(Received)* | &nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)* |
| *Reference* | *Frequency* | *Rate* | *Frequency* | &nbsp;&nbsp; *Termination*<br> *Date* | &nbsp;&nbsp; *Notional*<br> *Amount*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(000)* | &nbsp;&nbsp; *Notional*<br> *Amount*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(000)* | *Value* | &nbsp;&nbsp; *Upfront*<br> *Premium*<br> *Paid*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(Received)* | &nbsp;&nbsp; *Unrealized*<br> *Appreciation*<br> &nbsp;&nbsp;&nbsp;&nbsp;*(Depreciation)* |
| 2.75% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 426 | &nbsp;&nbsp;&nbsp;&nbsp; $(2806)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $5 | &nbsp;&nbsp;&nbsp;&nbsp; $(2811)<br>|
| 3.41% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 721 | &nbsp;&nbsp;&nbsp;&nbsp; (3177)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 11 | &nbsp;&nbsp;&nbsp;&nbsp; (3188)<br>|
| 3.42% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 736 | &nbsp;&nbsp;&nbsp;&nbsp; (3729)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 12 | &nbsp;&nbsp;&nbsp;&nbsp; (3741)<br>|
| 3.43% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1441 | &nbsp;&nbsp;&nbsp;&nbsp; (7688)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 23 | &nbsp;&nbsp;&nbsp;&nbsp; (7711)<br>|
| 3.49% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 707 | &nbsp;&nbsp;&nbsp;&nbsp; (6095)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (97)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (5998)<br>|
| 3.37% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 08/15/29 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 1203 | &nbsp;&nbsp;&nbsp;&nbsp; (4993)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; (5012)<br>|
| 2.43% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 322 | &nbsp;&nbsp;&nbsp;&nbsp; 1429 | &nbsp;&nbsp;&nbsp;&nbsp; 3 | &nbsp;&nbsp;&nbsp;&nbsp; 1426 |
| 2.43% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 655 | &nbsp;&nbsp;&nbsp;&nbsp; 2933 | &nbsp;&nbsp;&nbsp;&nbsp; 8 | &nbsp;&nbsp;&nbsp;&nbsp; 2925 |
| 2.52% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 04/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 200 | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 190 | &nbsp;&nbsp;&nbsp;&nbsp; (164)<br>|
| 3.39% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp; (3425)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; (3430)<br>|
| 3.40% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 321 | &nbsp;&nbsp;&nbsp;&nbsp; (3697)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 5 | &nbsp;&nbsp;&nbsp;&nbsp; (3702)<br>|
| 3.41% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 629 | &nbsp;&nbsp;&nbsp;&nbsp; (7342)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; (7352)<br>|
| 3.46% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp;&nbsp; (4592)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (73)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (4519)<br>|
| 2.69% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/17/30 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 1562 | &nbsp;&nbsp;&nbsp;&nbsp; (8158)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 19 | &nbsp;&nbsp;&nbsp;&nbsp; (8177)<br>|
| 2.70% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/22/30 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 682 | &nbsp;&nbsp;&nbsp;&nbsp; (3942)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (174)<br>| &nbsp;&nbsp;&nbsp;&nbsp; (3768)<br>|
| 3.35% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 08/15/30 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp;&nbsp;&nbsp; (5578)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 10 | &nbsp;&nbsp;&nbsp;&nbsp; (5588)<br>|
| 2.63% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 09/09/30 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 1567 | &nbsp;&nbsp;&nbsp;&nbsp; (5627)<br>| &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; (5645)<br>|
| &nbsp;&nbsp;&nbsp; U.S. CPI Urban <br> Consumers <br> NSA<br>| At Termination | 2.61% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 10/06/30 | &nbsp;&nbsp;&nbsp;&nbsp; USD | &nbsp;&nbsp;&nbsp;&nbsp; 2200 | &nbsp;&nbsp;&nbsp;&nbsp; 6466 | &nbsp;&nbsp;&nbsp;&nbsp; 26 | &nbsp;&nbsp;&nbsp;&nbsp; 6440 |
| &nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | 3.24% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 315 | &nbsp;&nbsp;&nbsp;&nbsp; 6010 | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 6001 |
| &nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | 3.24% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 321 | &nbsp;&nbsp;&nbsp;&nbsp; 6052 | &nbsp;&nbsp;&nbsp;&nbsp; 9 | &nbsp;&nbsp;&nbsp;&nbsp; 6043 |
| &nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | 3.24% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 629 | &nbsp;&nbsp;&nbsp;&nbsp; 11776 | &nbsp;&nbsp;&nbsp;&nbsp; 18 | &nbsp;&nbsp;&nbsp;&nbsp; 11758 |
| &nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | 3.27% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 07/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 308 | &nbsp;&nbsp;&nbsp;&nbsp; 6965 | &nbsp;&nbsp;&nbsp;&nbsp; 189 | &nbsp;&nbsp;&nbsp;&nbsp; 6776 |
| &nbsp;&nbsp;&nbsp; UK RPI All Items <br> NSA<br>| At Termination | 3.20% | At Termination | &nbsp;&nbsp;&nbsp;&nbsp; 08/15/35 | &nbsp;&nbsp;&nbsp;&nbsp; GBP | &nbsp;&nbsp;&nbsp;&nbsp; 525 | &nbsp;&nbsp;&nbsp;&nbsp; 8424 | &nbsp;&nbsp;&nbsp;&nbsp; 14 | &nbsp;&nbsp;&nbsp;&nbsp; 8410 |
|  |  |  |  |  |  |  | &nbsp;&nbsp;&nbsp;&nbsp; $(33348)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(26483)<br>| &nbsp;&nbsp;&nbsp;&nbsp; $(6865)<br>|

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

**OTC Total Return Swaps** 

---

| | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Paid by the Fund* | *Paid by the Fund* | *Received by the Fund* | *Received by the Fund* |  |  |  |  |  |  |  |  |
| *Rate* | *Frequency* | *Reference* | *Frequency* | *Counterparty* | *Effective* <br>*Date*<br>| *Termination* <br>*Date*<br>| *Notional* <br>*Amount (000)* | *Notional* <br>*Amount (000)* | *Value* | *Upfront* <br>*Premiums* <br>*Paid* <br>*(Received)*<br>| *Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>|
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield <br> Corporate Bond ETF<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.20%, 4.22%<br>| At <br> Termination<br>| Barclays Bank <br> PLC<br>| N/A | 12/19/25 | USD | 404 | $1452 | $— | $1452 |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield <br> Corporate Bond ETF<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.25%, 4.22%<br>| At <br> Termination<br>| Barclays Bank <br> PLC<br>| N/A | 12/19/25 | USD | 1133 | 5299 |  | 5299 |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield <br> Corporate Bond ETF<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.30%, 4.22%<br>| At <br> Termination<br>| Morgan Stanley <br> & Co. <br> International <br> PLC<br>| N/A | 12/19/25 | USD | 2626 | 2334 |  | 2334 |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield <br> Corporate Bond ETF<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.50%, 4.22%<br>| At <br> Termination<br>| Morgan Stanley <br> & Co. <br> International <br> PLC<br>| N/A | 12/19/25 | USD | 2665 | 1786 |  | 1786 |
| &nbsp;&nbsp;&nbsp; iShares iBoxx $ High Yield <br> Corporate Bond ETF<br>| At <br> Termination<br>| &nbsp;&nbsp;&nbsp; 1-day SOFR minus <br> 0.50%, 4.22%<br>| At <br> Termination<br>| Morgan Stanley <br> & Co. <br> International <br> PLC<br>| N/A | 12/19/25 | USD | 2760 | 13154 |  | 13154 |
|  |  |  |  |  |  |  |  |  | $24025 | $— | $24025 |

---

**Fair Value Hierarchy as of Period End** 

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Asset-Backed Securities | &nbsp;&nbsp; $— | &nbsp;&nbsp; $35526068 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $35526068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Collateralized Mortgage Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 42686561 | &nbsp;&nbsp; — | &nbsp;&nbsp; 42686561 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Convertible Bonds | &nbsp;&nbsp; — | &nbsp;&nbsp; 111566 | &nbsp;&nbsp; — | &nbsp;&nbsp; 111566 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; — | &nbsp;&nbsp; 85083389 | &nbsp;&nbsp; 219412 | &nbsp;&nbsp; 85302801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Government Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 7356858 | &nbsp;&nbsp; — | &nbsp;&nbsp; 7356858 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Debt Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 1458348 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1458348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; U.S. Government & Agency Obligations | &nbsp;&nbsp; — | &nbsp;&nbsp; 217695366 | &nbsp;&nbsp; — | &nbsp;&nbsp; 217695366 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Common Stocks | &nbsp;&nbsp; 394802 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 394802 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Companies | &nbsp;&nbsp; 841936 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 841936 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Preferred Stocks | &nbsp;&nbsp; 16180 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 16180 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 10194503 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 10194503 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options Purchased  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 28072 | &nbsp;&nbsp; — | &nbsp;&nbsp; 28072 |
| Liabilities |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; TBA Sales Commitments | &nbsp;&nbsp; — | &nbsp;&nbsp; (77826383)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (77826383)<br>|
|  | &nbsp;&nbsp; $11447421 | &nbsp;&nbsp; $310092260 | &nbsp;&nbsp; $219412 | &nbsp;&nbsp; $321759093 |

---

------

Schedule of Investments (unaudited)(continued)

October 31, 2025

**iShares Total Return Active ETF**

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Derivative Financial Instruments<sup>(a)</sup>  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Credit Contracts | &nbsp;&nbsp; $— | &nbsp;&nbsp; $295112 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $295112 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 24025 | &nbsp;&nbsp; — | &nbsp;&nbsp; 24025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 189078 | &nbsp;&nbsp; — | &nbsp;&nbsp; 189078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inflation Linked Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; 77463 | &nbsp;&nbsp; — | &nbsp;&nbsp; 77463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; 182494 | &nbsp;&nbsp; 58903 | &nbsp;&nbsp; — | &nbsp;&nbsp; 241397 |
| &nbsp;&nbsp;&nbsp; Liabilities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Equity Contracts | &nbsp;&nbsp; (5481)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; (5481)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Foreign Currency Exchange Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (168239)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (168239)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Inflation Linked Contracts | &nbsp;&nbsp; — | &nbsp;&nbsp; (84328)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (84328)<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest Rate Contracts | &nbsp;&nbsp; (132094)<br>| &nbsp;&nbsp; (162172)<br>| &nbsp;&nbsp; — | &nbsp;&nbsp; (294266)<br>|
|  | &nbsp;&nbsp; $44919 | &nbsp;&nbsp; $229842 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $274761 |

---

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

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

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

---

| | |
|:---|:---|
| **Currency Abbreviation** | **Currency Abbreviation** |
| ARS | Argentine Peso |
| AUD | Australian Dollar |
| BRL | Brazilian Real |
| CAD | Canadian Dollar |
| CHF | Swiss Franc |
| CLP | Chilean Peso |
| CNH | Chinese Yuan |
| CNY | Chinese Yuan |
| COP | Colombian Peso |
| CZK | Czech Koruna |
| EGP | Egyptian Pound |
| EUR | Euro |
| GBP | British Pound |
| HUF | Hungarian Forint |
| IDR | Indonesian Rupiah |
| INR | Indian Rupee |
| JPY | Japanese Yen |
| KRW | South Korean Won |
| MXN | Mexican Peso |
| MYR | Malaysian Ringgit |
| NGN | Nigerian Naira |
| PEN | Peru Nuevo Sol |
| PHP | Philippine Peso |
| PLN | Polish Zloty |
| SGD | Singapore Dollar |
| THB | Thai Baht |
| TRY | Turkish Lira |
| USD | United States Dollar |
| UYU | Uruguayan Peso |
| ZAR | South African Rand |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| BAB | Build America Bond |
| CLO | Collateralized Loan Obligation |
| CME | Chicago Mercantile Exchange |
| CMT | Constant Maturity Treasury |
| CPI | Consumer Price Index |
| ETF | Exchange-Traded Fund |

---

---

| | |
|:---|:---|
| EURIBOR | Euro Interbank Offered Rate |
| GO | General Obligation |
| JSC | Joint Stock Company |
| PIK | Payment-in-kind |
| RB | Revenue Bonds |
| SOFR | Secured Overnight Financing Rate |
| TBA | To-Be-Announced |

---

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** WILMINGTON

  - **State:** DE

  - **Foreign country:** US

  - **Zip / Postal Code:** 19809

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

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

- **a. Name of Series:** iShares Total Return Active ETF

- **b. EDGAR series identifier (if any):** S000083073

- **c. LEI of Series:** 5299001LKKSPPM1BLL20

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

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

- **b. Date as of which information is reported:** 2025-10-31

**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:** $439558932.26

**Total Liabilities:** $158568244.63

**Net Assets:** $280990687.63

**Delayed Delivery Securities:** $33015171.52

**Cash Not Reported:** $2043812.97

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 9422.09000000 | **1-Year:** 3471.49000000 | **5-Year:** 49010.45000000 | **10-Year:** 33789.99000000 | **30-Year:** 18162.99000000

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

- **3-Month:** 998.14000000 | **1-Year:** 891.04000000 | **5-Year:** 10689.49000000 | **10-Year:** -169.43000000 | **30-Year:** 6447.84000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000246586 | 1.39%                | 1.19%                | 0.62%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $653152.97               | $1782677.99                                |
| Month 2  | $984885.66               | $877471.10                                 |
| Month 3  | $-241390.38              | $564684.50                                 |

**Designated Index Information**

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

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

### Schedule of Portfolio Investments

| Name                                                                             | Title                                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |    Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| A&D Mortgage Trust                                                               | A&D Mortgage Trust 2024-NQM5                                                     | CUSIP: 00039KAC4<br>LEI: 9845006Z1DC68561N347 | Long             | ABS-MBS          | CORP              | US        |      86022 | PA      | $86453.90     | 0.03%             | 2069-11-25      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| A&D Mortgage Trust                                                               | A&D Mortgage Trust 2024-NQM5                                                     | CUSIP: 00039KAF7<br>LEI: 9845006Z1DC68561N347 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100833.81    | 0.04%             | 2069-11-25      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                                                    | AEP Texas Inc                                                                    | CUSIP: 00108WAJ9<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |      22000 | PA      | $17258.76     | 0.01%             | 2049-05-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                                                    | AEP Texas Inc                                                                    | CUSIP: 00108WAK6<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |      39000 | PA      | $27197.07     | 0.01%             | 2050-01-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                                                    | AEP Texas Inc                                                                    | CUSIP: 00108WAN0<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |      48000 | PA      | $33237.44     | 0.01%             | 2051-05-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                                                    | AEP Texas Inc                                                                    | CUSIP: 00108WAR1<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |      24000 | PA      | $24732.99     | 0.01%             | 2033-06-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                                                    | AEP Texas Inc                                                                    | CUSIP: 00108WAT7<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |      18000 | PA      | $18782.61     | 0.01%             | 2034-05-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| AEP TEXAS INC                                                                    | AEP Texas Inc                                                                    | CUSIP: 0010EPAF5<br>LEI: 5493001L78U618KXNZ75 | Long             | DBT              | CORP              | US        |      14000 | PA      | $15391.59     | 0.01%             | 2033-02-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| ACRA Trust 2024-NQM1                                                             | ACRA Trust 2024-NQM1                                                             | CUSIP: 00112EAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     125134 | PA      | $125650.80    | 0.04%             | 2064-10-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| ACREC LLC                                                                        | Acrec 2025 Fl 3 LLC                                                              | CUSIP: 00112HAA5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     100000 | PA      | $99616.71     | 0.04%             | 2042-08-18      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| AEP TRANSMISSION CO LLC                                                          | AEP Transmission Co LLC                                                          | CUSIP: 00115AAH2<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |      24000 | PA      | $18736.79     | 0.01%             | 2047-12-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| AEP TRANSMISSION CO LLC                                                          | AEP Transmission Co LLC                                                          | CUSIP: 00115AAK5<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |       6000 | PA      | $4655.97      | 0.00%             | 2049-06-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| AEP TRANSMISSION CO LLC                                                          | AEP Transmission Co LLC                                                          | CUSIP: 00115AAL3<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |      47000 | PA      | $32608.10     | 0.01%             | 2049-09-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| AEP TRANSMISSION CO LLC                                                          | AEP Transmission Co LLC                                                          | CUSIP: 00115AAN9<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |      20000 | PA      | $12678.93     | 0.00%             | 2051-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| AEP TRANSMISSION CO LLC                                                          | AEP Transmission Co LLC                                                          | CUSIP: 00115AAS8<br>LEI: 549300X123Z1I0LA3Y84 | Long             | DBT              | CORP              | US        |      72000 | PA      | $74576.64     | 0.03%             | 2035-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| AGL Core CLO                                                                     | AGL Core CLO 2 Ltd                                                               | CUSIP: 001200AJ3<br>LEI: 549300EIBQDZ5WXOZ105 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250867.18    | 0.09%             | 2037-07-20      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                                                     | AES Corp/The                                                                     | CUSIP: 00130HCL7<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |     100000 | PA      | $96748.88     | 0.03%             | 2055-07-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                                                                  | AREIT 2024-CRE9 Ltd                                                              | CUSIP: 00193AAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     110218 | PA      | $110207.31    | 0.04%             | 2041-05-17      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| AREIT CRE Trust                                                                  | AREIT 2025-CRE10 Ltd                                                             | CUSIP: 00193DAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     323000 | PA      | $322975.55    | 0.11%             | 2029-12-17      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                         | AT&T Inc                                                                         | CUSIP: 00206RDJ8<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |      13000 | PA      | $10965.08     | 0.00%             | 2048-03-09      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                         | AT&T Inc                                                                         | CUSIP: 00206RDS8<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     110000 | PA      | $105905.97    | 0.04%             | 2047-03-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                         | AT&T Inc                                                                         | CUSIP: 00206RKB7<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |      61000 | PA      | $43027.55     | 0.02%             | 2060-06-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                         | AT&T Inc                                                                         | CUSIP: 00206RKJ0<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     171000 | PA      | $117012.16    | 0.04%             | 2053-09-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                         | AT&T Inc                                                                         | CUSIP: 00206RLV2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     565000 | PA      | $382837.32    | 0.14%             | 2059-09-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                         | AT&T Inc                                                                         | CUSIP: 00206RMN9<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     145000 | PA      | $102369.85    | 0.04%             | 2057-12-01      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| AT&T INC                                                                         | AT&T Inc                                                                         | CUSIP: 00206RMZ2<br>LEI: 549300Z40J86GGSTL398 | Long             | DBT              | CORP              | US        |     268000 | PA      | $275491.53    | 0.10%             | 2056-08-15      | Fixed         | 6.05%                 | No            |                  2 | On Loan: No      |
| AMERICAN AIRLINES/AADVAN                                                         | American Airlines Inc/AAdvantage Loyalty IP Ltd                                  | CUSIP: 00253XAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      23000 | PA      | $23205.78     | 0.01%             | 2029-04-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Acres PLC                                                                        | ACRES 2025-FL3 LLC                                                               | CUSIP: 00501DAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     385000 | PA      | $384984.14    | 0.14%             | 2040-08-18      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                                                           | Adient Global Holdings Ltd                                                       | CUSIP: 00687YAD7<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |      50000 | PA      | $51684.55     | 0.02%             | 2033-02-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| Affirm Master Trust                                                              | Affirm Master Trust                                                              | CUSIP: 00833BAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     133000 | PA      | $133926.73    | 0.05%             | 2033-02-15      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| Affirm Inc                                                                       | Affirm Asset Securitization Trust 2025-X1                                        | CUSIP: 00834MAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     292000 | PA      | $292814.88    | 0.10%             | 2030-04-15      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| ALA Trust                                                                        | ALA Trust 2025-OANA                                                              | CUSIP: 009920AG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      37000 | PA      | $37138.75     | 0.01%             | 2040-06-15      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| ALABAMA POWER CO                                                                 | Alabama Power Co                                                                 | CUSIP: 010392FB9<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |      12000 | PA      | $13059.54     | 0.00%             | 2039-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ALABAMA POWER CO                                                                 | Alabama Power Co                                                                 | CUSIP: 010392FD5<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |      15000 | PA      | $15244.05     | 0.01%             | 2041-03-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ALABAMA POWER CO                                                                 | Alabama Power Co                                                                 | CUSIP: 010392FJ2<br>LEI: 0RL818ELFOHP5JHOFU19 | Long             | DBT              | CORP              | US        |       9000 | PA      | $7493.50      | 0.00%             | 2042-12-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                                                           | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      50000 | PA      | $47652.89     | 0.02%             | 2029-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      50000 | PA      | $51787.40     | 0.02%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                                                         | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAH6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     100000 | PA      | $103180.10    | 0.04%             | 2032-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ALLIED UNIVERSAL HOLDCO                                                          | Allied Universal Holdco LLC                                                      | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |      24000 | PA      | $24989.18     | 0.01%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0124B9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     630000 | PA      | $564282.10    | 0.20%             | 2040-11-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0204B2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     651000 | PA      | $599061.35    | 0.21%             | 2040-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0206B0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1749000 | PA      | $1417997.33   | 0.50%             | 2055-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0224B8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     630000 | PA      | $592530.38    | 0.21%             | 2040-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0226B6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1400000 | PA      | $1188413.04   | 0.42%             | 2055-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0304B1<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     348000 | PA      | $333423.60    | 0.12%             | 2040-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0306B9<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     293000 | PA      | $259579.69    | 0.09%             | 2055-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0306B9<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |    -833000 | PA      | $-737985.94   | -0.26%            | 2055-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0324B7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     113000 | PA      | $109444.95    | 0.04%             | 2040-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0326B5<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    6680000 | PA      | $6158032.21   | 2.19%             | 2055-11-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0326C3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   20317000 | PA      | $18715166.68  | 6.66%             | 2055-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0326C3<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |   -2453000 | PA      | $-2259600.52  | -0.80%            | 2055-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0404B0<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      99000 | PA      | $97420.32     | 0.03%             | 2039-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0406B8<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2452000 | PA      | $2326230.74   | 0.83%             | 2055-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0406B8<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |   -2138000 | PA      | $-2028336.59  | -0.72%            | 2055-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0406C6<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |   -2138000 | PA      | $-2027584.96  | -0.72%            | 2055-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0424B6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     494000 | PA      | $493092.36    | 0.18%             | 2039-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0426B4<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    8746000 | PA      | $8524039.38   | 3.03%             | 2055-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0426B4<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |  -11851000 | PA      | $-11550239.04 | -4.11%            | 2055-11-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0426C2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    2756000 | PA      | $2684872.55   | 0.96%             | 2055-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0506B7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     824000 | PA      | $819786.87    | 0.29%             | 2055-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0506B7<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |   -1225000 | PA      | $-1218736.55  | -0.43%            | 2055-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0526B3<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |   15382964 | PA      | $15541357.15  | 5.53%             | 2054-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0606B6<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |     563471 | PA      | $576181.20    | 0.21%             | 2054-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0606B6<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |  -12400000 | PA      | $-12679706.43 | -4.51%            | 2054-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0626B2<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |    1012000 | PA      | $1047910.56   | 0.37%             | 2054-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| UMBS, TBA                                                                        | Uniform Mortgage-Backed Security, TBA                                            | CUSIP: 01F0626B2<br>LEI: N/A                  | Short            | ABS-MBS          | USGSE             | US        |    -506000 | PA      | $-523955.28   | -0.19%            | 2054-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2007-OA3                                                  | CUSIP: 02150TAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     130215 | PA      | $121967.53    | 0.04%             | 2047-04-25      | Floating      | 4.39%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                                                 | Altria Group Inc                                                                 | CUSIP: 02209SAM5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |      19000 | PA      | $15917.47     | 0.01%             | 2042-08-09      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                                                 | Altria Group Inc                                                                 | CUSIP: 02209SAV5<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |      34000 | PA      | $25897.18     | 0.01%             | 2046-09-16      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                                                 | Altria Group Inc                                                                 | CUSIP: 02209SBG7<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |      13000 | PA      | $13300.02     | 0.00%             | 2059-02-14      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                                                 | Altria Group Inc                                                                 | CUSIP: 02209SBM4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     254000 | PA      | $195787.23    | 0.07%             | 2041-02-04      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                                                 | Altria Group Inc                                                                 | CUSIP: 02209SBT9<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |     197000 | PA      | $204176.15    | 0.07%             | 2035-02-06      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| ALTRIA GROUP INC                                                                 | Altria Group Inc                                                                 | CUSIP: 02209SBV4<br>LEI: XSGZFLO9YTNO9VCQV219 | Long             | DBT              | CORP              | US        |      75000 | PA      | $75641.52     | 0.03%             | 2035-08-06      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMENTUM HOLDINGS INC                                                             | Amentum Holdings Inc                                                             | CUSIP: 02352BAA3<br>LEI: 2549009FJIBLW40CU216 | Long             | DBT              | CORP              | US        |      50000 | PA      | $52035.25     | 0.02%             | 2032-08-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| AMERICAN AXLE & MFG INC                                                          | American Axle & Manufacturing Inc                                                | CUSIP: 02406PBB5<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |      26000 | PA      | $24708.53     | 0.01%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| AMERICAN EXPRESS CO                                                              | American Express Co                                                              | CUSIP: 025816EK1<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |     119000 | PA      | $121241.51    | 0.04%             | 2033-07-20      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| American Home Mortgage Investment Trust                                          | American Home Mortgage Investment Trust 2006-2                                   | CUSIP: 02660YAS1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     482779 | PA      | $39289.89     | 0.01%             | 2036-05-25      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| American Municipal Power Inc                                                     | AMERICAN MUNI PWR-OHIO INC OH REVENUE                                            | CUSIP: 02765UEK6<br>LEI: EARKGGZJJEMVD66XQ486 | Long             | DBT              | MUN               | US        |      85000 | PA      | $109367.65    | 0.04%             | 2050-02-15      | Fixed         | 8.08%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                                              | American Tower Corp                                                              | CUSIP: 03027XBA7<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     101000 | PA      | $95348.95     | 0.03%             | 2030-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                                              | American Tower Corp                                                              | CUSIP: 03027XBC3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |      15000 | PA      | $13554.26     | 0.00%             | 2030-06-15      | Fixed         | 2.10%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                                              | American Tower Corp                                                              | CUSIP: 03027XCN8<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     261000 | PA      | $266444.10    | 0.09%             | 2030-03-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| AMERICAN TOWER CORP                                                              | American Tower Corp                                                              | CUSIP: 03027XCP3<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |     353000 | PA      | $362805.24    | 0.13%             | 2035-03-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Quest Trust                                                                      | Quest Trust                                                                      | CUSIP: 03072SSY2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     257756 | PA      | $235956.65    | 0.08%             | 2034-06-25      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| AMERIGAS PART/FIN CORP                                                           | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AM6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       6000 | PA      | $6223.54      | 0.00%             | 2028-06-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                                        | Amgen Inc                                                                        | CUSIP: 031162CY4<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |      70000 | PA      | $42553.61     | 0.02%             | 2053-09-01      | Fixed         | 2.77%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                                        | Amgen Inc                                                                        | CUSIP: 031162DG2<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |      36000 | PA      | $28829.75     | 0.01%             | 2062-02-22      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| AMGEN INC                                                                        | Amgen Inc                                                                        | CUSIP: 031162DU1<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |      13000 | PA      | $12984.30     | 0.00%             | 2063-03-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                                        | Anchorage Capital CLO 15 Ltd                                                     | CUSIP: 03329FAW4<br>LEI: 549300H5Q0HJ2EHSSX26 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250718.98    | 0.09%             | 2038-07-20      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                                        | Anchorage Capital CLO 8 Ltd                                                      | CUSIP: 03329KBC6<br>LEI: 549300PKM3N9LK4JM015 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250000.00    | 0.09%             | 2034-10-27      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| Anchorage Capital CLO LTD                                                        | Anchorage Capital Clo 17 Ltd                                                     | CUSIP: 03332PAN7<br>LEI: 549300UNU854VTZYQ112 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250315.05    | 0.09%             | 2038-02-15      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                         | Angel Oak Mortgage Trust 2023-1                                                  | CUSIP: 03465WAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      75859 | PA      | $75463.84     | 0.03%             | 2067-09-26      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                         | Angel Oak Mortgage Trust 2024-1                                                  | CUSIP: 03465XAA7<br>LEI: 2549003MM0537Y3QHI22 | Long             | ABS-MBS          | CORP              | US        |     159876 | PA      | $159692.91    | 0.06%             | 2068-08-25      | Variable      | 5.21%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                         | Angel Oak Mortgage Trust 2025-2                                                  | CUSIP: 03466QAA1<br>LEI: 254900DKH168ZWJSMI96 | Long             | ABS-MBS          | CORP              | US        |     178865 | PA      | $180230.55    | 0.06%             | 2070-02-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                         | Angel Oak Mortgage Trust 2025-8                                                  | CUSIP: 03466UAA2<br>LEI: 254900WZRTR935QJJ709 | Long             | ABS-MBS          | CORP              | US        |     104832 | PA      | $105427.77    | 0.04%             | 2070-07-25      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                         | Angel Oak Mortgage Trust 2024-10                                                 | CUSIP: 034933AA9<br>LEI: 254900QN92XYN8GJBJ44 | Long             | ABS-MBS          | CORP              | US        |      42035 | PA      | $42216.90     | 0.02%             | 2069-10-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                                                         | Angel Oak Mortgage Trust 2025-1                                                  | CUSIP: 034934AA7<br>LEI: 254900HC0S1X9R2JZB30 | Long             | ABS-MBS          | CORP              | US        |     321312 | PA      | $323961.98    | 0.12%             | 2070-01-25      | Variable      | 5.69%                 | No            |                  2 | On Loan: No      |
| ANTERO RESOURCES CORP                                                            | Antero Resources Corp                                                            | CUSIP: 03674XAQ9<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |      20000 | PA      | $20359.86     | 0.01%             | 2029-02-01      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| ANTERO RESOURCES CORP                                                            | Antero Resources Corp                                                            | CUSIP: 03674XAS5<br>LEI: APVBKPOULHUX7YZLKU17 | Long             | DBT              | CORP              | US        |     557000 | PA      | $560828.82    | 0.20%             | 2030-03-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                                              | Elevance Health Inc                                                              | CUSIP: 036752AM5<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |      40000 | PA      | $26655.83     | 0.01%             | 2050-05-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                                              | Elevance Health Inc                                                              | CUSIP: 036752AS2<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |      63000 | PA      | $45442.17     | 0.02%             | 2051-03-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                                              | Elevance Health Inc                                                              | CUSIP: 036752AX1<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |       2000 | PA      | $2090.96      | 0.00%             | 2052-10-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                                              | Elevance Health Inc                                                              | CUSIP: 036752BA0<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |      23000 | PA      | $22653.81     | 0.01%             | 2054-06-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| ELEVANCE HEALTH INC                                                              | Elevance Health Inc                                                              | CUSIP: 036752BE2<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | DBT              | CORP              | US        |      20000 | PA      | $19766.56     | 0.01%             | 2055-02-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| ANTERO MIDSTREAM PART/FI                                                         | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       6000 | PA      | $5996.26      | 0.00%             | 2029-06-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| APA CORP                                                                         | APA Corp                                                                         | CUSIP: 03743QBC1<br>LEI: 549300VCIWLRHYVSHC79 | Long             | DBT              | CORP              | US        |       5000 | PA      | $4063.70      | 0.00%             | 2042-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                                                   | Apidos CLO XXXIX Ltd                                                             | CUSIP: 03766HAQ3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     500000 | PA      | $500608.80    | 0.18%             | 2038-10-21      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                                                   | Apidos CLO XXXIV                                                                 | CUSIP: 03768WAL9<br>LEI: 5493001VH1Y9SEPJKZ47 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250218.05    | 0.09%             | 2035-01-20      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Apidos CLO Ltd                                                                   | Apidos Clo LIV                                                                   | CUSIP: 03771RAJ0<br>LEI: 254900SXYQWBYZA9L226 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250877.60    | 0.09%             | 2038-10-20      | Floating      | 8.07%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                                                    | AppLovin Corp                                                                    | CUSIP: 03831WAB4<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |     313000 | PA      | $319488.67    | 0.11%             | 2029-12-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                                                    | AppLovin Corp                                                                    | CUSIP: 03831WAC2<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |     661000 | PA      | $682231.00    | 0.24%             | 2031-12-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| APPLOVIN CORP                                                                    | AppLovin Corp                                                                    | CUSIP: 03831WAE8<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | DBT              | CORP              | US        |     276000 | PA      | $276532.40    | 0.10%             | 2054-12-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Arbor Realty Commercial Real Estate Notes                                        | Arbor Realty Commercial Real Estate Notes 2025-FL1 LLC                           | CUSIP: 03881KAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     175000 | PA      | $175023.14    | 0.06%             | 2043-01-20      | Floating      | 5.39%                 | No            |                  2 | On Loan: No      |
| arbor multifamily mortgage securities trust                                      | Arbor Multifamily Mortgage Securities Trust 2022-MF4                             | CUSIP: 03882LAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     170000 | PA      | $159275.69    | 0.06%             | 2055-02-15      | Variable      | 3.28%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                                                         | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      11000 | PA      | $11046.82     | 0.00%             | 2028-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                                                   | ARES Commercial Mortgage Trust 2024-IND                                          | CUSIP: 03990DAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     293000 | PA      | $293549.38    | 0.10%             | 2041-07-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| Argent Securities Inc.                                                           | Argent Securities Trust 2006-W2                                                  | CUSIP: 040104RW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     258177 | PA      | $145339.99    | 0.05%             | 2036-03-25      | Floating      | 4.69%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                                     | Ares XLI Clo Ltd                                                                 | CUSIP: 04016DAU9<br>LEI: 549300X38KZ67Q2FQG11 | Long             | ABS-CBDO         | CORP              | KY        |     300000 | PA      | $300100.92    | 0.11%             | 2034-04-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                                     | ARES XLIV CLO Ltd                                                                | CUSIP: 04016NBR3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250023.45    | 0.09%             | 2034-04-15      | Floating      | 6.65%                 | No            |                  2 | On Loan: No      |
| ARES CLO Ltd                                                                     | ARES LX CLO LTD                                                                  | CUSIP: 04018FAJ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $249996.95    | 0.09%             | 2034-07-18      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| ARES Commercial Mortgage Trust                                                   | ARES1 2024-IND2                                                                  | CUSIP: 04021EAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      80000 | PA      | $80050.00     | 0.03%             | 2034-10-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| ASBURY AUTOMOTIVE GROUP                                                          | Asbury Automotive Group Inc                                                      | CUSIP: 043436AX2<br>LEI: 549300JH4DTA7U42GL91 | Long             | DBT              | CORP              | US        |     101000 | PA      | $97257.22     | 0.03%             | 2032-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| AT&T REIGN II LB PTT                                                             | AT&T Reign II Multi-Property Lease-Backed Pass-Through Trust                     | CUSIP: 046912AA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     125000 | PA      | $127528.01    | 0.05%             | 2044-12-15      | Fixed         | 6.09%                 | No            |                  2 | On Loan: No      |
| Atrium Hotel Portfolio Trust                                                     | Atrium Hotel Portfolio Trust 2024-ATRM                                           | CUSIP: 04963XAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     300000 | PA      | $305461.98    | 0.11%             | 2029-11-10      | Variable      | 5.41%                 | No            |                  2 | On Loan: No      |
| Atrium Hotel Portfolio Trust                                                     | Atrium Hotel Portfolio Trust 2024-ATRM                                           | CUSIP: 04963XAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $10264.40     | 0.00%             | 2029-11-10      | Variable      | 9.21%                 | No            |                  2 | On Loan: No      |
| Atrium Hotel Portfolio Trust                                                     | Atrium Hotel Portfolio Trust 2025-ATRM                                           | CUSIP: 049917AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      73000 | PA      | $73156.96     | 0.03%             | 2042-08-15      | Floating      | 5.68%                 | No            |                  2 | On Loan: No      |
| Atrium Hotel Portfolio Trust                                                     | Atrium Hotel Portfolio Trust 2025-ATRM                                           | CUSIP: 049917AL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      78000 | PA      | $78028.88     | 0.03%             | 2042-08-15      | Floating      | 9.53%                 | No            |                  2 | On Loan: No      |
| Atrium Hotel Portfolio Trust                                                     | Atrium Hotel Portfolio Trust 2025-ATRM                                           | CUSIP: 049917AN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      32000 | PA      | $32011.35     | 0.01%             | 2042-08-15      | Floating      | 10.78%                | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                                                          | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BG1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      12000 | PA      | $11515.48     | 0.00%             | 2028-04-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BCAP LLC Trust                                                                   | BCAP LLC 2015-RR6 Trust                                                          | CUSIP: 05490QAK4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $82313.39     | 0.03%             | 2046-05-26      | Floating      | 4.15%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch Large Loan Inc                                     | BAMLL Trust 2024-BHP                                                             | CUSIP: 05493WAA0<br>LEI: 5493001M1XQ4INMTAE48 | Long             | ABS-MBS          | CORP              | US        |      20000 | PA      | $20037.79     | 0.01%             | 2039-08-15      | Floating      | 6.38%                 | No            |                  2 | On Loan: No      |
| The BAHA Trust                                                                   | BAHA Trust 2024-MAR                                                              | CUSIP: 05493XAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     210000 | PA      | $217209.03    | 0.08%             | 2041-12-10      | Variable      | 5.97%                 | No            |                  2 | On Loan: No      |
| The BAHA Trust                                                                   | BAHA Trust 2024-MAR                                                              | CUSIP: 05493XAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $10422.69     | 0.00%             | 2041-12-10      | Variable      | 6.84%                 | No            |                  2 | On Loan: No      |
| The BAHA Trust                                                                   | BAHA Trust 2024-MAR                                                              | CUSIP: 05493XAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     114000 | PA      | $118816.20    | 0.04%             | 2041-12-10      | Variable      | 7.52%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch Large Loan Inc                                     | BAMLL Trust 2025-ASHF                                                            | CUSIP: 05494CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      86000 | PA      | $86107.50     | 0.03%             | 2042-02-15      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Banc of America Merrill Lynch Large Loan Inc                                     | BAMLL Trust 2025-ASHF                                                            | CUSIP: 05494CAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      51000 | PA      | $51004.84     | 0.02%             | 2042-02-15      | Floating      | 9.28%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                                       | BFLD Trust 2025-EWEST                                                            | CUSIP: 05494JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     218000 | PA      | $218718.59    | 0.08%             | 2042-06-15      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| BBAM US CLO LTD.                                                                 | BBAM US CLO I Ltd                                                                | CUSIP: 054978AL5<br>LEI: 549300LRECI1GZTZLF38 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250287.75    | 0.09%             | 2038-03-30      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                 | BAT Capital Corp                                                                 | CUSIP: 054989AC2<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     127000 | PA      | $143168.23    | 0.05%             | 2043-08-02      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                 | BAT Capital Corp                                                                 | CUSIP: 054989AD0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |      69000 | PA      | $78872.99     | 0.03%             | 2053-08-02      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                 | BAT Capital Corp                                                                 | CUSIP: 054989AF5<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     120000 | PA      | $118551.66    | 0.04%             | 2033-03-22      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                 | BAT Capital Corp                                                                 | CUSIP: 05526DBF1<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     252000 | PA      | $211239.64    | 0.08%             | 2047-08-15      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                 | BAT Capital Corp                                                                 | CUSIP: 05526DBK0<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     196000 | PA      | $167262.99    | 0.06%             | 2049-09-06      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                 | BAT Capital Corp                                                                 | CUSIP: 05526DBQ7<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |      27000 | PA      | $24651.46     | 0.01%             | 2050-04-02      | Fixed         | 5.28%                 | No            |                  2 | On Loan: No      |
| BAT CAPITAL CORP                                                                 | BAT Capital Corp                                                                 | CUSIP: 05526DBV6<br>LEI: 2138005GYEXN7XRHFA84 | Long             | DBT              | CORP              | US        |     144000 | PA      | $137422.30    | 0.05%             | 2052-03-16      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                                      | BBCMS 2018-TALL Mortgage Trust                                                   | CUSIP: 05548WAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $94250.00     | 0.03%             | 2037-03-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| BDS Ltd                                                                          | BDS 2024-FL13 LLC                                                                | CUSIP: 05555MAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     138000 | PA      | $137985.68    | 0.05%             | 2039-09-19      | Floating      | 5.61%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                                       | BFLD 2024-VICT Mortgage Trust                                                    | CUSIP: 05555VAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      16000 | PA      | $16055.00     | 0.01%             | 2041-07-15      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                                       | BFLD Commercial Mortgage Trust 2025-660F                                         | CUSIP: 05556QAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     249000 | PA      | $249311.25    | 0.09%             | 2042-11-15      | Floating      | 5.46%                 | No            |                  2 | On Loan: No      |
| BBAM US CLO LTD.                                                                 | BBAM US CLO VI Ltd                                                               | CUSIP: 05556TAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250000.00    | 0.09%             | 2039-01-27      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                                                        | BPR 2023-STON Mortgage Trust                                                     | CUSIP: 05593GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $104196.82    | 0.04%             | 2039-12-05      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BMP Trust                                                                        | BMP 2024-MF23                                                                    | CUSIP: 05593JAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     285000 | PA      | $285534.38    | 0.10%             | 2041-06-15      | Floating      | 6.42%                 | No            |                  2 | On Loan: No      |
| BMP Trust                                                                        | BMP 2024-MF23                                                                    | CUSIP: 05593JAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      11000 | PA      | $10986.46     | 0.00%             | 2041-06-15      | Floating      | 7.42%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2025-ROIC                                                               | CUSIP: 05593VAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      95627 | PA      | $95029.37     | 0.03%             | 2030-03-15      | Floating      | 6.97%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2025-LUNR                                                               | CUSIP: 05594CAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     279986 | PA      | $280161.40    | 0.10%             | 2040-06-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2021-VIEW                                                               | CUSIP: 05606GAQ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $9954.60      | 0.00%             | 2036-06-15      | Floating      | 8.08%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2020-VIV4                                           | CUSIP: 05608MAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $92566.96     | 0.03%             | 2044-03-09      | Fixed         | 2.84%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2021-ARIA                                                               | CUSIP: 05608RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      28000 | PA      | $27956.25     | 0.01%             | 2036-10-15      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2021-LBA                                                                | CUSIP: 05609BCD9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $199882.16    | 0.07%             | 2036-02-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2023-DELC                                                               | CUSIP: 05610DAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     141000 | PA      | $141088.13    | 0.05%             | 2038-05-15      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2023-DELC                                                               | CUSIP: 05610DAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100250.00    | 0.04%             | 2038-05-15      | Floating      | 7.37%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2022-CSMO                                           | CUSIP: 05610MAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100750.00    | 0.04%             | 2027-06-15      | Floating      | 7.17%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-XL4                                            | CUSIP: 05611VAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      92804 | PA      | $93400.68     | 0.03%             | 2039-02-15      | Floating      | 8.22%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2024-PAT                                                                | CUSIP: 05612FAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $10003.13     | 0.00%             | 2041-03-15      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2024-PAT                                                                | CUSIP: 05612FAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      34000 | PA      | $34125.71     | 0.01%             | 2041-03-15      | Floating      | 8.47%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2024-PAT                                                                | CUSIP: 05612FAG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      16000 | PA      | $16105.13     | 0.01%             | 2041-03-15      | Floating      | 9.42%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-XL5                                            | CUSIP: 05612GAG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      71860 | PA      | $71994.79     | 0.03%             | 2041-03-15      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2024-CNYN                                                               | CUSIP: 05612HAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      74279 | PA      | $74510.84     | 0.03%             | 2041-04-15      | Floating      | 6.72%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2024-CNYN                                                               | CUSIP: 05612HAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      74279 | PA      | $74040.73     | 0.03%             | 2041-04-15      | Floating      | 7.72%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-KING                                           | CUSIP: 05612RAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     197401 | PA      | $197524.63    | 0.07%             | 2034-05-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2024-VLT4                                                               | CUSIP: 05612TAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     249000 | PA      | $248999.75    | 0.09%             | 2041-06-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2024-VLT4                                                               | CUSIP: 05612TAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100092.03    | 0.04%             | 2041-06-15      | Floating      | 6.17%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX TRUST 2024 VLT4                                                               | CUSIP: 05612TAJ4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      20000 | PA      | $20000.00     | 0.01%             | 2041-06-15      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2024-VLT4                                                               | CUSIP: 05612TAL9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      30000 | PA      | $30036.22     | 0.01%             | 2041-06-15      | Floating      | 7.97%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX 2024-PALM                                                                     | CUSIP: 05612UAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     173077 | PA      | $173184.50    | 0.06%             | 2037-06-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX 2024-PALM                                                                     | CUSIP: 05612UAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     304416 | PA      | $304789.11    | 0.11%             | 2037-06-15      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-BRBK                                           | CUSIP: 05613NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      51000 | PA      | $51127.50     | 0.02%             | 2041-10-15      | Floating      | 6.91%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-BRBK                                           | CUSIP: 05613NAG2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     176000 | PA      | $176091.75    | 0.06%             | 2041-10-15      | Floating      | 7.96%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-BRBK                                           | CUSIP: 05613NAJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     162220 | PA      | $162306.54    | 0.06%             | 2041-10-15      | Floating      | 8.91%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-AIR2                                           | CUSIP: 05613QAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      95918 | PA      | $96037.92     | 0.03%             | 2041-10-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| BXMT Ltd                                                                         | BXMT 2025-FL5 Ltd                                                                | CUSIP: 05613YAA1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     273000 | PA      | $271795.14    | 0.10%             | 2042-10-18      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| BSTN Commercial Mortgage Trust                                                   | BSTN Commercial Mortgage Trust 2025-1C                                           | CUSIP: 05615EAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $103253.11    | 0.04%             | 2044-06-15      | Variable      | 6.24%                 | No            |                  2 | On Loan: No      |
| BPR Trust                                                                        | BPR Commercial Mortgage Trust 2025-STAR                                          | CUSIP: 05619DAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     110000 | PA      | $110225.95    | 0.04%             | 2042-11-05      | Variable      | 5.11%                 | No            |                  2 | On Loan: No      |
| BRES Commercial Mortgage Trust                                                   | BRES Commercial Mortgage Trust 2025-ATCAP                                        | CUSIP: 05619GAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     137000 | PA      | $136652.05    | 0.05%             | 2042-11-15      | Floating      | 5.49%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2025-OMG                                                                | CUSIP: 05619HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      88000 | PA      | $88055.07     | 0.03%             | 2027-10-15      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                                                        | Ball Corp                                                                        | CUSIP: 058498AW6<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |       6000 | PA      | $5485.78      | 0.00%             | 2030-08-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| Ballyrock Ltd                                                                    | Ballyrock CLO 14 Ltd                                                             | CUSIP: 05874XAL3<br>LEI: 254900GXTF670X967J67 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250659.70    | 0.09%             | 2037-07-20      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC                                                         | Baltimore Gas and Electric Co                                                    | CUSIP: 059165EJ5<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |      17000 | PA      | $13329.76     | 0.00%             | 2047-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BALTIMORE GAS & ELECTRIC                                                         | Baltimore Gas and Electric Co                                                    | CUSIP: 059165EM8<br>LEI: 88V8C2WYSOD1SPSSLH72 | Long             | DBT              | CORP              | US        |       5000 | PA      | $3288.26      | 0.00%             | 2050-06-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                           | Banc of America Alternative Loan Trust 2006-7                                    | CUSIP: 059469AD8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       6889 | PA      | $1806.07      | 0.00%             | 2036-10-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| Banc of America Alternative Loan Trust                                           | Banc of America Alternative Loan Trust 2003-8                                    | CUSIP: 05948XTV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      86114 | PA      | $86974.84     | 0.03%             | 2033-10-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Corporation                                              | Banc of America Funding 2007-1 Trust                                             | CUSIP: 05951FBG8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       9192 | PA      | $7908.47      | 0.00%             | 2037-01-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Banc of America Funding Corporation                                              | Banc of America Funding Corp                                                     | CUSIP: 05990QAB9<br>LEI: 54930023UHZHF7UJ8596 | Long             | ABS-MBS          | CORP              | US        |      82820 | PA      | $71116.87     | 0.03%             | 2036-03-27      | Variable      | 2.26%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GFG9<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      66000 | PA      | $63286.96     | 0.02%             | 2044-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GGR4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     192000 | PA      | $190310.21    | 0.07%             | 2028-07-21      | Fixed         | 3.59%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GHD4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     103000 | PA      | $101407.41    | 0.04%             | 2028-12-20      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GHX0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      27000 | PA      | $25641.32     | 0.01%             | 2030-10-22      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GJL4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      42000 | PA      | $37372.03     | 0.01%             | 2031-10-24      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GJM2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      61000 | PA      | $39522.11     | 0.01%             | 2051-10-24      | Fixed         | 2.83%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GKD0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     136000 | PA      | $122308.12    | 0.04%             | 2032-10-20      | Fixed         | 2.57%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GKK4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     339000 | PA      | $309134.39    | 0.11%             | 2033-02-04      | Fixed         | 2.97%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GKQ1<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     164000 | PA      | $163730.24    | 0.06%             | 2033-04-27      | Fixed         | 4.57%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GKY4<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      10000 | PA      | $10237.76     | 0.00%             | 2033-07-22      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GLG2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      75000 | PA      | $76812.33     | 0.03%             | 2029-04-25      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GLH0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     131000 | PA      | $135543.52    | 0.05%             | 2034-04-25      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GLS6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      90000 | PA      | $93931.88     | 0.03%             | 2029-09-15      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GML0<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      20000 | PA      | $20650.79     | 0.01%             | 2031-01-24      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GMM8<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |      94000 | PA      | $98411.20     | 0.04%             | 2036-01-24      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GMT3<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     446000 | PA      | $451365.94    | 0.16%             | 2029-05-09      | Fixed         | 4.62%                 | No            |                  2 | On Loan: No      |
| BANK OF AMERICA CORP                                                             | Bank of America Corp                                                             | CUSIP: 06051GMW6<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |     260000 | PA      | $272008.39    | 0.10%             | 2036-05-09      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| Banc of America Commercial Mortgage Trust                                        | Bank of America Merrill Lynch Commercial Mortgage Trust 2017-BNK3                | CUSIP: 06427DAW3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      90000 | PA      | $87993.11     | 0.03%             | 2050-02-15      | Variable      | 3.88%                 | No            |                  2 | On Loan: No      |
| Bank                                                                             | BANK 2021-BNK35                                                                  | CUSIP: 06540CBX4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      13000 | PA      | $11033.08     | 0.00%             | 2064-06-15      | Variable      | 2.90%                 | No            |                  2 | On Loan: No      |
| BlackRock Funds III                                                              | BlackRock Cash Funds: Treasury, SL Agency Shares                                 | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |    1396566 | NS      | $1396566.50   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Barclays Mortgage Loan Trust                                                     | Barclays Mortgage Loan Trust 2025-NQM1                                           | CUSIP: 06744WAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     226633 | PA      | $228150.24    | 0.08%             | 2065-01-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| Barclays Mortgage Loan Trust                                                     | Barclays Mortgage Loan Trust 2025-NQM3                                           | CUSIP: 06745VAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     300000 | PA      | $304988.40    | 0.11%             | 2065-05-25      | Variable      | 7.61%                 | No            |                  2 | On Loan: No      |
| BAUSCH + LOMB CORP                                                               | Bausch + Lomb Corp                                                               | CUSIP: 071705AA5<br>LEI: 549300NY6OZM39SO6475 | Long             | DBT              | CORP              | CA        |      19000 | PA      | $19855.00     | 0.01%             | 2028-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                                          | BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE                                        | CUSIP: 072024NV0<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |     110000 | PA      | $128471.20    | 0.05%             | 2050-04-01      | Fixed         | 7.04%                 | No            |                  2 | On Loan: —       |
| Bay View Federal Savings And Loan Assoc.                                         | BAY 2025-LIVN Mortgage Trust                                                     | CUSIP: 072925AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     161000 | PA      | $161280.46    | 0.06%             | 2035-05-15      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                                      | BBCMS Mortgage Trust 2025-C35                                                    | CUSIP: 07337DAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     243000 | PA      | $256587.56    | 0.09%             | 2058-07-15      | Variable      | 5.59%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                                      | BBCMS Mortgage Trust 2025-C35                                                    | CUSIP: 07337DAE0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      27000 | PA      | $28407.99     | 0.01%             | 2058-07-15      | Variable      | 5.84%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                                      | BBCMS Mortgage Trust 2025-C35                                                    | CUSIP: 07337DAF7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      20000 | PA      | $20796.16     | 0.01%             | 2058-07-15      | Variable      | 6.12%                 | No            |                  2 | On Loan: No      |
| Barclays Commercial Mortgage Securities LLC                                      | BBCMS Mortgage Trust 2025-C35                                                    | CUSIP: 07337DAQ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      18000 | PA      | $14298.86     | 0.01%             | 2058-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                                       | Bear Stearns Asset Backed Securities I Trust 2007-HE5                            | CUSIP: 073859AH3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      91469 | PA      | $83705.00     | 0.03%             | 2047-06-25      | Floating      | 4.49%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                                       | Bear Stearns Asset Backed Securities I Trust 2006-IM1                            | CUSIP: 07387UFW6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     117003 | PA      | $115867.92    | 0.04%             | 2036-04-25      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                                       | Bear Stearns Asset Backed Securities I Trust 2006-AC2                            | CUSIP: 07387UGB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      13547 | PA      | $3452.05      | 0.00%             | 2036-03-25      | Floating      | 4.46%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Asset Backed Securities Trust                                       | Bear Stearns Asset Backed Securities I Trust 2006-AQ1                            | CUSIP: 07389PAY6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      69941 | PA      | $62520.20     | 0.02%             | 2036-10-25      | Floating      | 4.42%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Mortgage Funding Trust                                              | Bear Stearns Mortgage Funding Trust 2007-AR2                                     | CUSIP: 07401TAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      74495 | PA      | $68461.62     | 0.02%             | 2037-03-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Structured Products Inc.                                            | Bear Stearns Structured Products Trust 2007-EMX1                                 | CUSIP: 07402LAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      54670 | PA      | $54523.74     | 0.02%             | 2037-03-25      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| Bear Stearns Structured Products Inc.                                            | Bear Stearns Structured Products Trust 2007-EMX1                                 | CUSIP: 07402LAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $89119.74     | 0.03%             | 2037-03-25      | Floating      | 6.11%                 | No            |                  2 | On Loan: No      |
| BECTON DICKINSON & CO                                                            | Becton Dickinson & Co                                                            | CUSIP: 075887CU1<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | DBT              | CORP              | US        |      53000 | PA      | $54407.73     | 0.02%             | 2029-06-07      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| BEIGNET INVESTOR LLC                                                             | Beignet Investor LLC                                                             | CUSIP: 076912AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     977000 | PA      | $1042173.13   | 0.37%             | 2049-05-30      | Fixed         | 6.58%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                                         | Benchmark 2020-B21 Mortgage Trust                                                | CUSIP: 08163LAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      56000 | PA      | $49312.77     | 0.02%             | 2053-12-17      | Fixed         | 1.98%                 | No            |                  2 | On Loan: No      |
| BENCHMARK Mortgage Trust                                                         | Benchmark 2025-V18 Mortgage Trust                                                | CUSIP: 08164EAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     204000 | PA      | $209969.37    | 0.07%             | 2058-10-15      | Fixed         | 5.18%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                                  | Benefit Street Partners CLO XXVII Ltd                                            | CUSIP: 08179PAQ5<br>LEI: 254900WANE6M5S0NC534 | Long             | ABS-CBDO         | CORP              | JE        |     250000 | PA      | $250666.15    | 0.09%             | 2037-10-20      | Floating      | 5.25%                 | No            |                  2 | On Loan: No      |
| Benefit Street Partners CLO Ltd                                                  | Benefit Street Partners CLO XXIX                                                 | CUSIP: 08186EAL2<br>LEI: 549300DICNUWMUKL3816 | Long             | ABS-CBDO         | CORP              | JE        |     250000 | PA      | $250000.00    | 0.09%             | 2038-01-25      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                                       | BFLD Commercial Mortgage Trust 2024-UNIV                                         | CUSIP: 08861RAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      20000 | PA      | $20012.50     | 0.01%             | 2041-11-15      | Floating      | 5.52%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                                       | BFLD Commercial Mortgage Trust 2024-UNIV                                         | CUSIP: 08861RAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      13000 | PA      | $13028.04     | 0.00%             | 2041-11-15      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| BFLD Trust                                                                       | BFLD Commercial Mortgage Trust 2025-5MW                                          | CUSIP: 088921AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99927.41     | 0.04%             | 2042-10-10      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| BHMS Mortgage Trust                                                              | BHMS Commercial Mortgage Trust 2025-ATLS                                         | CUSIP: 088928AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     192000 | PA      | $192480.00    | 0.07%             | 2042-08-15      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.                                                             | Birch Grove CLO 6 Ltd                                                            | CUSIP: 09077FAL9<br>LEI: 254900HENKWLW4T9SW86 | Long             | ABS-CBDO         | CORP              | JE        |     250000 | PA      | $250526.65    | 0.09%             | 2037-07-20      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Birch Grove CLO Ltd.                                                             | Birch Grove CLO 7 Ltd                                                            | CUSIP: 09077RAL3<br>LEI: 254900FP4VB7V5ZG0W95 | Long             | ABS-CBDO         | CORP              | JE        |     250000 | PA      | $250373.50    | 0.09%             | 2038-10-20      | Floating      | 5.14%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                                             | BlueMountain CLO 2016-3 Ltd                                                      | CUSIP: 09628VAW4<br>LEI: 549300EYIDIF4X8MHI21 | Long             | ABS-CBDO         | CORP              | KY        |      88938 | PA      | $88941.29     | 0.03%             | 2030-11-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Bluemountain CLO Ltd                                                             | BlueMountain CLO 2018-3 Ltd                                                      | CUSIP: 09630AAN6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |      85837 | PA      | $85838.49     | 0.03%             | 2030-10-25      | Floating      | 5.05%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                                    | Boeing Co/The                                                                    | CUSIP: 097023204<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | EP               | CORP              | US        |        250 | NS      | $16180.00     | 0.01%             |  |  |  | No            |                  1 | On Loan: No      |
| BOEING CO                                                                        | Boeing Co/The                                                                    | CUSIP: 097023BR5<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     178000 | PA      | $175672.48    | 0.06%             | 2026-06-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| BOEING CO/THE                                                                    | Boeing Co/The                                                                    | CUSIP: 097023DU6<br>LEI: RVHJWBXLJ1RFUBSY1F30 | Long             | DBT              | CORP              | US        |     146000 | PA      | $167098.42    | 0.06%             | 2064-05-01      | Fixed         | 7.01%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                                                   | Bombardier Inc                                                                   | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |      16000 | PA      | $16982.72     | 0.01%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| BOYD GAMING CORP                                                                 | Boyd Gaming Corp                                                                 | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |      23000 | PA      | $22146.47     | 0.01%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                                           | BP Capital Markets America Inc                                                   | CUSIP: 10373QBV1<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |     187000 | PA      | $190288.41    | 0.07%             | 2033-09-11      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| BP CAP MARKETS AMERICA                                                           | BP Capital Markets America Inc                                                   | CUSIP: 10373QCA6<br>LEI: 5493009NTB34VXE1T760 | Long             | DBT              | CORP              | US        |      20000 | PA      | $20690.59     | 0.01%             | 2034-11-17      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                                  | BRAVO Residential Funding Trust 2023-NQM6                                        | CUSIP: 10569DAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100812.72    | 0.04%             | 2063-09-25      | Variable      | 7.98%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                                  | BRAVO Residential Funding Trust 2025-NQM2                                        | CUSIP: 10569NAC5<br>LEI: 254900TZWRKTBX2YNW23 | Long             | ABS-MBS          | CORP              | US        |     131793 | PA      | $132854.17    | 0.05%             | 2064-11-25      | Variable      | 5.68%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                                  | BRAVO Residential Funding Trust 2024-CES2                                        | CUSIP: 10570PAA1<br>LEI: 2549009UFWL9U1TS6959 | Long             | ABS-MBS          | CORP              | US        |     122119 | PA      | $122708.10    | 0.04%             | 2054-09-25      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| BRAVO Residential Funding Trust                                                  | BRAVO Residential Funding Trust 2025-NQM7                                        | CUSIP: 10570TAP0<br>LEI: 254900I1LYOO3G3UAT10 | Long             | ABS-MBS          | CORP              | US        |     193299 | PA      | $194694.38    | 0.07%             | 2065-07-25      | Variable      | 5.46%                 | No            |                  2 | On Loan: No      |
| Bridge Street CLO Ltd                                                            | Bridge Street CLO VI Ltd                                                         | CUSIP: 10806PAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $248128.00    | 0.09%             | 2039-01-15      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| BRINK'S CO/THE                                                                   | Brink's Co/The                                                                   | CUSIP: 109696AA2<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |      11000 | PA      | $10925.64     | 0.00%             | 2027-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FAQ4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      91000 | PA      | $90538.38     | 0.03%             | 2030-11-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FBP5<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      83000 | PA      | $71936.98     | 0.03%             | 2035-11-15      | Fixed         | 3.14%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FBQ3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      38000 | PA      | $32430.91     | 0.01%             | 2036-11-15      | Fixed         | 3.19%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FBT7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |       6000 | PA      | $5874.37      | 0.00%             | 2032-04-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FBY6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     211000 | PA      | $219359.66    | 0.08%             | 2031-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FCC3<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      10000 | PA      | $10065.48     | 0.00%             | 2032-02-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FCD1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     256000 | PA      | $257225.80    | 0.09%             | 2034-10-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FCG4<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     238000 | PA      | $247610.36    | 0.09%             | 2032-04-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FCM1<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |      13000 | PA      | $13391.12     | 0.00%             | 2035-07-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FCQ2<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     418000 | PA      | $380935.24    | 0.14%             | 2031-02-15      | Fixed         | 2.45%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FCT6<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     256000 | PA      | $234486.20    | 0.08%             | 2034-04-15      | Fixed         | 3.47%                 | No            |                  2 | On Loan: No      |
| BROADCOM INC                                                                     | Broadcom Inc                                                                     | CUSIP: 11135FCX7<br>LEI: 549300WV6GIDOZJTV909 | Long             | DBT              | CORP              | US        |     115000 | PA      | $113605.54    | 0.04%             | 2038-02-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                                                         | Brookfield Residential Properties Inc / Brookfield Residential US LLC            | CUSIP: 11283YAD2<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      12000 | PA      | $11086.37     | 0.00%             | 2030-02-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Buckhorn Park CLO, Ltd.                                                          | Buckhorn Park CLO Ltd                                                            | CUSIP: 118382BC3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $249976.65    | 0.09%             | 2034-07-18      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| BUILDERS FIRSTSOURCE INC                                                         | Builders FirstSource Inc                                                         | CUSIP: 12008RAN7<br>LEI: 549300W0SKP6L3H7DP63 | Long             | DBT              | CORP              | US        |      17000 | PA      | $16829.02     | 0.01%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-GPA3                                           | CUSIP: 123910AC5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     226350 | PA      | $226632.76    | 0.08%             | 2039-12-15      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2025-TAIL                                                               | CUSIP: 123912AJ6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     137000 | PA      | $136904.98    | 0.05%             | 2035-06-15      | Floating      | 7.33%                 | No            |                  2 | On Loan: No      |
| BWAY Mortgage Trust                                                              | BWAY Trust 2025-1535                                                             | CUSIP: 12430BAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      18000 | PA      | $18654.04     | 0.01%             | 2042-05-05      | Variable      | 6.31%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-MDHS                                           | CUSIP: 12433BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     260062 | PA      | $260224.54    | 0.09%             | 2041-05-15      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-AIRC                                           | CUSIP: 12433CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      93620 | PA      | $93736.55     | 0.03%             | 2039-08-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2025-SPOT                                           | CUSIP: 12433FAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     189683 | PA      | $189682.95    | 0.07%             | 2040-04-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2025-BCAT                                           | CUSIP: 12433HAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     102536 | PA      | $102600.38    | 0.04%             | 2042-08-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Trust 2025-VLT6                                                               | CUSIP: 12433KAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     281000 | PA      | $280912.19    | 0.10%             | 2042-03-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2023-XL3                                            | CUSIP: 12434GAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     107401 | PA      | $107502.02    | 0.04%             | 2040-12-09      | Floating      | 5.79%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                 | Paramount Global                                                                 | CUSIP: 124857AK9<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |       5000 | PA      | $3952.33      | 0.00%             | 2044-08-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                 | Paramount Global                                                                 | CUSIP: 124857AN3<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |      25000 | PA      | $18999.91     | 0.01%             | 2045-01-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                 | Paramount Global                                                                 | CUSIP: 124857AR4<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     155000 | PA      | $152246.90    | 0.05%             | 2027-01-15      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                 | Paramount Global                                                                 | CUSIP: 124857AT0<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     141000 | PA      | $137472.04    | 0.05%             | 2028-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCE1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     100000 | PA      | $93741.42     | 0.03%             | 2030-08-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      35000 | PA      | $31679.15     | 0.01%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCN1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      68000 | PA      | $60479.86     | 0.02%             | 2032-05-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                                                           | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPCP6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     172000 | PA      | $144432.45    | 0.05%             | 2034-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| CFK Trust                                                                        | CFK Trust 2020-MF2                                                               | CUSIP: 12529AAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $93379.41     | 0.03%             | 2039-03-15      | Fixed         | 2.79%                 | No            |                  2 | On Loan: No      |
| Cascade Funding Mortgage Trust                                                   | CFMT 2024-R1 LLC                                                                 | CUSIP: 12530YAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     112657 | PA      | $111166.92    | 0.04%             | 2054-10-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                                                         | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBN9<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |     100000 | PA      | $107803.00    | 0.04%             | 2032-01-15      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                                 | CIFC Funding 2014-II-R Ltd                                                       | CUSIP: 12548RAK0<br>LEI: 549300O8WGQU5B6HEB94 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250785.65    | 0.09%             | 2037-10-24      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                                 | CIFC Funding 2018-III Ltd                                                        | CUSIP: 12551YAS2<br>LEI: 635400OB7ZCBUWDQNV87 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250098.08    | 0.09%             | 2038-10-18      | Floating      | 6.78%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                                 | CIFC Funding 2019-VI Ltd                                                         | CUSIP: 12555XAN1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250869.55    | 0.09%             | 2037-07-16      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| CIT Mortgage Loan Trust                                                          | CIT Mortgage Loan Trust 2007-1                                                   | CUSIP: 12559QAH5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     425000 | PA      | $425812.26    | 0.15%             | 2037-10-25      | Floating      | 5.86%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                                 | CIFC Funding 2020-III Ltd                                                        | CUSIP: 12560EAW6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250278.73    | 0.09%             | 2038-10-20      | Floating      | 5.07%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                                 | CIFC Funding 2020-IV Ltd                                                         | CUSIP: 12562RAJ4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250522.65    | 0.09%             | 2040-01-15      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| CIFC Funding Ltd                                                                 | CIFC Funding 2021-III Ltd                                                        | CUSIP: 12564DAN4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $249999.75    | 0.09%             | 2038-10-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                                        | CIM Trust 2023-I1                                                                | CUSIP: 12570DAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100282.18    | 0.04%             | 2058-04-25      | Variable      | 7.06%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                                        | CIM Trust 2023-I2                                                                | CUSIP: 12570HAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     115000 | PA      | $116068.14    | 0.04%             | 2067-12-25      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                                        | CIM Trust 2025-I1                                                                | CUSIP: 12571DAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     123340 | PA      | $124387.60    | 0.04%             | 2069-10-25      | Variable      | 5.66%                 | No            |                  2 | On Loan: No      |
| CIM Trust                                                                        | CIM Trust 2025-I1                                                                | CUSIP: 12571DAD7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     150000 | PA      | $151482.11    | 0.05%             | 2069-10-25      | Variable      | 6.44%                 | No            |                  2 | On Loan: No      |
| CIP Commercial Mortgage Trust 2025-SBAY                                          | CIP Commercial Mortgage Trust 2025-SBAY                                          | CUSIP: 12576AAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     332000 | PA      | $332311.25    | 0.12%             | 2037-10-15      | Floating      | 5.50%                 | No            |                  2 | On Loan: No      |
| CIP Commercial Mortgage Trust 2025-SBAY                                          | CIP Commercial Mortgage Trust 2025-SBAY                                          | CUSIP: 12576AAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     123000 | PA      | $123153.75    | 0.04%             | 2037-10-15      | Floating      | 7.85%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                                 | COLT 2021-5 Mortgage Loan Trust                                                  | CUSIP: 12598RAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      85265 | PA      | $77424.79     | 0.03%             | 2066-11-26      | Variable      | 1.73%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                                 | COLT 2023-2 Mortgage Loan Trust                                                  | CUSIP: 12598UAE6<br>LEI: 213800IHRVKO9R6JZ883 | Long             | ABS-MBS          | CORP              | US        |     262000 | PA      | $265361.25    | 0.09%             | 2068-07-25      | Variable      | 7.94%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                                                               | CNX Resources Corp                                                               | CUSIP: 12653CAL2<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |      72000 | PA      | $75070.44     | 0.03%             | 2032-03-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                                     | CSMC 2021-BHAR                                                                   | CUSIP: 12659VAA8<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      80000 | PA      | $79400.00     | 0.03%             | 2038-11-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                                 | COLT 2022-3 Mortgage Loan Trust                                                  | CUSIP: 12659YAF1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $85175.86     | 0.03%             | 2067-02-25      | Variable      | 4.19%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                                     | CSMC 2022-NQM6 Trust                                                             | CUSIP: 12663YAM0<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |      78011 | PA      | $78288.73     | 0.03%             | 2067-12-25      | Variable      | 9.23%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                                                     | CSMC 2022-ATH3                                                                   | CUSIP: 12664AAH2<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     131000 | PA      | $130496.20    | 0.05%             | 2067-08-25      | Variable      | 7.10%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                  | CVS Health Corp                                                                  | CUSIP: 126650CD0<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |      51000 | PA      | $48137.47     | 0.02%             | 2043-12-05      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| CVS HEALTH CORP                                                                  | CVS Health Corp                                                                  | CUSIP: 126650CN8<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |      30000 | PA      | $27263.62     | 0.01%             | 2045-07-20      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                                            | CWABS Asset-Backed Certificates Trust 2006-11                                    | CUSIP: 12666TAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      49888 | PA      | $48551.21     | 0.02%             | 2035-12-25      | Variable      | 6.30%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2004-J13                                                  | CUSIP: 12667FD51<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     291883 | PA      | $279919.68    | 0.10%             | 2035-02-25      | Floating      | 6.73%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2005-J4                                                   | CUSIP: 12667GNJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      38530 | PA      | $38275.75     | 0.01%             | 2035-07-25      | Floating      | 6.13%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2005-29CB                                                 | CUSIP: 12667GUS0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       8126 | PA      | $4603.07      | 0.00%             | 2035-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2005-59                                                   | CUSIP: 12668AEV3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       2465 | PA      | $2411.33      | 0.00%             | 2035-11-20      | Floating      | 4.80%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2005-55CW                                                 | CUSIP: 12668AUP8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      15731 | PA      | $11309.05     | 0.00%             | 2035-11-25      | Floating      | 4.62%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2006-6CB                                                  | CUSIP: 12668BSQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      93787 | PA      | $34697.27     | 0.01%             | 2036-05-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2006-9T1                                                  | CUSIP: 12668BVD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      91361 | PA      | $34253.23     | 0.01%             | 2036-05-25      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2006-OA2                                                  | CUSIP: 126694S41<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     198378 | PA      | $180233.88    | 0.06%             | 2046-05-20      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                                                           | CHL Mortgage Pass-Through Trust 2007-J1                                          | CUSIP: 12669MAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     798143 | PA      | $284946.17    | 0.10%             | 2037-02-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                              | COMM 2025-167G Mortgage Trust                                                    | CUSIP: 12674VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      24000 | PA      | $24098.43     | 0.01%             | 2040-08-10      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                              | COMM 2025-167G Mortgage Trust                                                    | CUSIP: 12674VAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      20000 | PA      | $20027.14     | 0.01%             | 2040-08-10      | Variable      | 8.20%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                              | COMM 2025-167G Mortgage Trust                                                    | CUSIP: 12674VAN1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      16000 | PA      | $16019.95     | 0.01%             | 2040-08-10      | Variable      | 9.16%                 | No            |                  2 | On Loan: No      |
| Castle Hill INGOTS Ltd                                                           | CSTL Commercial Mortgage Trust 2025-GATE2                                        | CUSIP: 12676JAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99505.08     | 0.04%             | 2042-11-10      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| CAESARS ENTERTAIN INC                                                            | Caesars Entertainment Inc                                                        | CUSIP: 12769GAA8<br>LEI: 549300FA4CTCW903Y781 | Long             | DBT              | CORP              | US        |      11000 | PA      | $10348.72     | 0.00%             | 2029-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| State of California                                                              | CALIFORNIA ST                                                                    | CUSIP: 13063A5G5<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |      55000 | PA      | $67212.69     | 0.02%             | 2039-04-01      | Fixed         | 7.55%                 | No            |                  2 | On Loan: —       |
| State of California                                                              | CALIFORNIA ST                                                                    | CUSIP: 13063DGE2<br>LEI: 9845007J7054602FF597 | Long             | DBT              | MUN               | US        |     250000 | PA      | $255044.88    | 0.09%             | 2038-04-01      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                                                     | Calpine Corp                                                                     | CUSIP: 131347CP9<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |      23000 | PA      | $22858.90     | 0.01%             | 2029-02-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CAMELOT RETURN MERGER SU                                                         | Camelot Return Merger Sub Inc                                                    | CUSIP: 13323NAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     100000 | PA      | $92441.63     | 0.03%             | 2028-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CAMERON LNG LLC                                                                  | Cameron LNG LLC                                                                  | CUSIP: 133434AB6<br>LEI: 549300C39FLHGVD73K22 | Long             | DBT              | CORP              | US        |     100000 | PA      | $87792.78     | 0.03%             | 2035-01-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| CAMERON LNG LLC                                                                  | Cameron LNG LLC                                                                  | CUSIP: 133434AC4<br>LEI: 549300C39FLHGVD73K22 | Long             | DBT              | CORP              | US        |     226000 | PA      | $197529.61    | 0.07%             | 2038-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                                                    | Carnival Corp                                                                    | CUSIP: 143658CA8<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |      11000 | PA      | $11300.11     | 0.00%             | 2032-08-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CELANESE US HOLDINGS LLC                                                         | Celanese US Holdings LLC                                                         | CUSIP: 15089QAX2<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |      50000 | PA      | $50881.35     | 0.02%             | 2030-11-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| CNTRL PARENT/CDK GLB INC                                                         | Central Parent Inc / CDK Global Inc                                              | CUSIP: 15477CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      25000 | PA      | $20535.54     | 0.01%             | 2029-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                                                         | Charles River Laboratories International Inc                                     | CUSIP: 159864AG2<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |       6000 | PA      | $5752.50      | 0.00%             | 2029-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175AZ7<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |      44000 | PA      | $45577.49     | 0.02%             | 2035-10-23      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BC7<br>LEI: 549300TPZNMN50BJ3745 | Long             | DBT              | CORP              | US        |      72000 | PA      | $71599.95     | 0.03%             | 2055-10-23      | Fixed         | 6.83%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BL7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      56000 | PA      | $47513.28     | 0.02%             | 2047-05-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BN3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     149000 | PA      | $132152.99    | 0.05%             | 2048-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BT0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     101000 | PA      | $79039.54     | 0.03%             | 2050-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BV5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      91000 | PA      | $59482.83     | 0.02%             | 2051-04-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175BY9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     170000 | PA      | $104638.13    | 0.04%             | 2061-04-01      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     133000 | PA      | $87284.56     | 0.03%             | 2052-06-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     316000 | PA      | $214072.22    | 0.08%             | 2061-12-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CE2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       7000 | PA      | $4954.56      | 0.00%             | 2042-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     148000 | PA      | $91643.61     | 0.03%             | 2062-06-30      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CK8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     127000 | PA      | $103393.97    | 0.04%             | 2053-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      56000 | PA      | $45501.18     | 0.02%             | 2063-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CP7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     211000 | PA      | $223033.27    | 0.08%             | 2034-02-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      55000 | PA      | $57882.98     | 0.02%             | 2034-06-01      | Fixed         | 6.55%                 | No            |                  2 | On Loan: No      |
| CHARTER COMM OPT LLC/CAP                                                         | Charter Communications Operating LLC / Charter Communications Operating Capital  | CUSIP: 161175CS1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      87000 | PA      | $86764.86     | 0.03%             | 2035-12-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                               | Chase Mortgage Finance Trust Series 2007-A1                                      | CUSIP: 161630AL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100147 | PA      | $99179.16     | 0.04%             | 2037-02-25      | Variable      | 5.72%                 | No            |                  2 | On Loan: No      |
| Chase Mortgage Finance Corporation                                               | Chase Mortgage Finance Trust Series 2007-S5                                      | CUSIP: 161631AK2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     121118 | PA      | $52924.94     | 0.02%             | 2037-07-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                                                      | Chemours Co/The                                                                  | CUSIP: 163851AF5<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |      23000 | PA      | $22039.37     | 0.01%             | 2028-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                                                         | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAK7<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     203000 | PA      | $196000.92    | 0.07%             | 2031-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                                                         | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAN1<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     261000 | PA      | $238437.68    | 0.08%             | 2032-01-31      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                                                         | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAS0<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |     161000 | PA      | $167347.85    | 0.06%             | 2034-08-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY PARTNERS                                                         | Cheniere Energy Partners LP                                                      | CUSIP: 16411QAV3<br>LEI: 5493005UEC8AZ34LDV29 | Long             | DBT              | CORP              | US        |      34000 | PA      | $34794.04     | 0.01%             | 2035-10-30      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| CHENIERE ENERGY INC                                                              | Cheniere Energy Inc                                                              | CUSIP: 16411RAN9<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | DBT              | CORP              | US        |     658000 | PA      | $680566.93    | 0.24%             | 2034-04-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                                                         | Cheniere Corpus Christi Holdings LLC                                             | CUSIP: 16412XAG0<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |     112000 | PA      | $113146.42    | 0.04%             | 2027-06-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                                                         | Cheniere Corpus Christi Holdings LLC                                             | CUSIP: 16412XAJ4<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |     262000 | PA      | $255064.36    | 0.09%             | 2029-11-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| CHENIERE CORP CHRISTI HD                                                         | Cheniere Corpus Christi Holdings LLC                                             | CUSIP: 16412XAL9<br>LEI: 549300I7CIEWU1BBLQ53 | Long             | DBT              | CORP              | US        |     220000 | PA      | $185381.50    | 0.07%             | 2039-12-31      | Fixed         | 2.74%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                                               | Expand Energy Corp                                                               | CUSIP: 165167DG9<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |      38000 | PA      | $38092.11     | 0.01%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                                               | Expand Energy Corp                                                               | CUSIP: 165167DH7<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     816000 | PA      | $839991.09    | 0.30%             | 2035-01-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Countrywide Home Loans                                                           | CHL Mortgage Pass-Through Trust 2006-17                                          | CUSIP: 17025AAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       7428 | PA      | $3266.73      | 0.00%             | 2036-12-25      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| CHURCHILL DOWNS INC                                                              | Churchill Downs Inc                                                              | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |      24000 | PA      | $24538.58     | 0.01%             | 2031-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 172967ML2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      11000 | PA      | $10251.75     | 0.00%             | 2031-01-29      | Fixed         | 2.67%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 172967NN7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      85000 | PA      | $80840.17     | 0.03%             | 2033-03-17      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 172967PA3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      10000 | PA      | $10911.16     | 0.00%             | 2033-11-17      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 172967PZ8<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     150000 | PA      | $150974.12    | 0.05%             | 2028-05-07      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 172967QA2<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      25000 | PA      | $25502.32     | 0.01%             | 2031-05-07      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 172967QF1<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     321000 | PA      | $321389.86    | 0.11%             | 2031-09-11      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 172967QH7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      40000 | PA      | $40497.78     | 0.01%             | 2036-09-11      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 17308CC53<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     206000 | PA      | $195349.12    | 0.07%             | 2030-11-05      | Fixed         | 2.98%                 | No            |                  2 | On Loan: No      |
| Citigroup Mortgage Loan Trust Inc                                                | Citigroup Mortgage Loan Trust Inc                                                | CUSIP: 17313JAM6<br>LEI: 549300R1KUK063S4I339 | Long             | ABS-O            | CORP              | US        |     134438 | PA      | $124337.86    | 0.04%             | 2037-07-25      | Floating      | 7.86%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 17327CAQ6<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     392000 | PA      | $358161.97    | 0.13%             | 2033-01-25      | Fixed         | 3.06%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 17327CAT0<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |      88000 | PA      | $88575.41     | 0.03%             | 2030-09-19      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 17327CAW3<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     254000 | PA      | $257298.51    | 0.09%             | 2029-03-04      | Fixed         | 4.79%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                                                         | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 18060TAD7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      50000 | PA      | $51834.00     | 0.02%             | 2030-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                                             | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AP6<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |      50000 | PA      | $51124.64     | 0.02%             | 2032-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                                                             | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |      23000 | PA      | $24077.07     | 0.01%             | 2031-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                                           | Cloud Software Group Inc                                                         | CUSIP: 18912UAA0<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |     100000 | PA      | $103434.00    | 0.04%             | 2029-09-30      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| Clover CLO                                                                       | Clover CLO 2021-3 LLC                                                            | CUSIP: 18915FAA0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     250000 | PA      | $249875.00    | 0.09%             | 2035-01-25      | Floating      | 4.93%                 | No            |                  2 | On Loan: No      |
| CLYDESDALE ACQUISITION                                                           | Clydesdale Acquisition Holdings Inc                                              | CUSIP: 18972EAA3<br>LEI: 254900QKSDYFR3K5YD98 | Long             | DBT              | CORP              | US        |      50000 | PA      | $50199.75     | 0.02%             | 2029-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Coast Investment Grade                                                           | COAST Commercial Mortgage Trust 2023-2HTL                                        | CUSIP: 19033EAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     210000 | PA      | $209869.28    | 0.07%             | 2036-08-15      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans                                                        | College Ave Student Loans 2023-A LLC                                             | CUSIP: 193938AB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      69331 | PA      | $70174.69     | 0.02%             | 2055-05-25      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| College Ave Student Loans                                                        | College Ave Student Loans 2021-C LLC                                             | CUSIP: 19424WAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     170161 | PA      | $158432.10    | 0.06%             | 2055-07-26      | Fixed         | 2.32%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                                 | COLT 2023-3 Mortgage Loan Trust                                                  | CUSIP: 19688RAE9<br>LEI: 213800MIPEZY1A8W1N28 | Long             | ABS-MBS          | CORP              | US        |     193000 | PA      | $194603.42    | 0.07%             | 2068-09-25      | Variable      | 7.81%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                                 | COLT 2025-7 Mortgage Loan Trust                                                  | CUSIP: 19689CAA9<br>LEI: 213800DOQUYA3TO33M98 | Long             | ABS-MBS          | CORP              | US        |     101118 | PA      | $101789.88    | 0.04%             | 2070-06-25      | Variable      | 5.47%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                                 | COLT 2025-8 Mortgage Loan Trust                                                  | CUSIP: 19689DAA7<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-MBS          | CORP              | US        |      97812 | PA      | $98686.78     | 0.04%             | 2070-08-25      | Variable      | 5.48%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                                                                 | COLT 2025-8 Mortgage Loan Trust                                                  | CUSIP: 19689DAE9<br>LEI: 2138009IZ4NQZAKAEN75 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100776.50    | 0.04%             | 2070-08-25      | Variable      | 7.10%                 | No            |                  2 | On Loan: No      |
| COMCAST CORP                                                                     | Comcast Corp                                                                     | CUSIP: 20030NDW8<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | DBT              | CORP              | US        |     163000 | PA      | $90826.77     | 0.03%             | 2063-11-01      | Fixed         | 2.99%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                              | COMM 2024-WCL1 MORTGAGE TRUST                                                    | CUSIP: 20047DAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      41000 | PA      | $40846.25     | 0.01%             | 2041-06-15      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                              | COMM 2024-WCL1 MORTGAGE TRUST                                                    | CUSIP: 20047DAC8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      11000 | PA      | $11027.30     | 0.00%             | 2041-06-15      | Floating      | 6.62%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                              | COMM 2024-WCL1 MORTGAGE TRUST                                                    | CUSIP: 20047DAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      14000 | PA      | $13994.30     | 0.00%             | 2041-06-15      | Floating      | 8.52%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                                                              | COMM 2025-SBX Mortgage Trust                                                     | CUSIP: 20047UAC0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      17000 | PA      | $17078.14     | 0.01%             | 2041-08-10      | Variable      | 5.55%                 | No            |                  2 | On Loan: No      |
| Compass Datacenters Issuer III, LLC                                              | Compass Datacenters Issuer III LLC                                               | CUSIP: 20469BAD9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     124000 | PA      | $125271.10    | 0.04%             | 2050-07-25      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                                                           | Comstock Resources Inc                                                           | CUSIP: 205768AS3<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |      23000 | PA      | $22800.81     | 0.01%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COMSTOCK RESOURCES INC                                                           | Comstock Resources Inc                                                           | CUSIP: 205768AU8<br>LEI: I03QQGEA4SS774AURI46 | Long             | DBT              | CORP              | US        |      17000 | PA      | $16833.14     | 0.01%             | 2029-03-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CART                                                                             | CONE Trust 2024-DFW1                                                             | CUSIP: 20682AAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      30000 | PA      | $29962.50     | 0.01%             | 2041-08-15      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| CART                                                                             | CONE Trust 2024-DFW1                                                             | CUSIP: 20682AAN0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      45000 | PA      | $44944.50     | 0.02%             | 2041-08-15      | Floating      | 7.92%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                                                    | CoreWeave Inc                                                                    | CUSIP: 21873SAB4<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |      20000 | PA      | $20194.52     | 0.01%             | 2030-06-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae                                                                       | CUSIP: 21H0206B6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     950000 | PA      | $789952.28    | 0.28%             | 2055-11-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae                                                                       | CUSIP: 21H0226B2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     789000 | PA      | $682823.45    | 0.24%             | 2055-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae                                                                       | CUSIP: 21H0306B5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1815000 | PA      | $1630664.06   | 0.58%             | 2055-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae                                                                       | CUSIP: 21H0326B1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     128000 | PA      | $117148.19    | 0.04%             | 2055-11-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae                                                                       | CUSIP: 21H0406B4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     920000 | PA      | $869982.25    | 0.31%             | 2055-11-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae                                                                       | CUSIP: 21H0426B0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1205000 | PA      | $1175876.67   | 0.42%             | 2055-11-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae                                                                       | CUSIP: 21H0506B3<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1650000 | PA      | $1644791.28   | 0.59%             | 2054-11-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae                                                                       | CUSIP: 21H0526B9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1978000 | PA      | $1994311.89   | 0.71%             | 2054-11-20      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae                                                                       | CUSIP: 21H0606B2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1250000 | PA      | $1272127.09   | 0.45%             | 2054-11-20      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae                                                                       | CUSIP: 21H0626C6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     534000 | PA      | $549814.58    | 0.20%             | 2054-12-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| REWORLD HOLDING CORP                                                             | Reworld Holding Corp                                                             | CUSIP: 22303XAA3<br>LEI: 40XIFLS8XDQGGHGPGC04 | Long             | DBT              | CORP              | US        |      23000 | PA      | $21611.81     | 0.01%             | 2029-12-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| CREDIT ACCEPTANC                                                                 | Credit Acceptance Corp                                                           | CUSIP: 225310AS0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     100000 | PA      | $99952.00     | 0.04%             | 2030-03-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| CreekSource (Dunes Creek) CLO Ltd                                                | Creeksource 2024-1 Dunes Creek Clo Ltd                                           | CUSIP: 225914AA8<br>LEI: 254900CZYOXX4AZ15302 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250717.23    | 0.09%             | 2038-01-15      | Floating      | 5.31%                 | No            |                  2 | On Loan: No      |
| CreekSource (Dunes Creek) CLO Ltd                                                | Creeksource 2024-1 Dunes Creek Clo Ltd                                           | CUSIP: 225914AE0<br>LEI: 254900CZYOXX4AZ15302 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250660.90    | 0.09%             | 2038-01-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                               | Energy Transfer LP                                                               | CUSIP: 226373AR9<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     291000 | PA      | $294639.52    | 0.10%             | 2029-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                               | Energy Transfer LP                                                               | CUSIP: 226373AT5<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     137000 | PA      | $142717.97    | 0.05%             | 2031-02-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                                             | Cross 2025-H1 Mortgage Trust                                                     | CUSIP: 22758NAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     618181 | PA      | $623499.65    | 0.22%             | 2070-02-25      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                                             | Cross 2025-H1 Mortgage Trust                                                     | CUSIP: 22758NAF4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     350000 | PA      | $353565.24    | 0.13%             | 2070-02-25      | Variable      | 6.48%                 | No            |                  2 | On Loan: No      |
| Cross Mortgage Trust                                                             | Cross 2025-H4 Mortgage Trust                                                     | CUSIP: 22790AAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      96591 | PA      | $97337.30     | 0.03%             | 2070-06-25      | Variable      | 5.60%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                                                 | Crown Castle Inc                                                                 | CUSIP: 22822VAY7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |      18000 | PA      | $16031.81     | 0.01%             | 2031-07-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                                                 | Crown Castle Inc                                                                 | CUSIP: 22822VBC4<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |      35000 | PA      | $35447.54     | 0.01%             | 2033-05-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| CROWN CASTLE INC                                                                 | Crown Castle Inc                                                                 | CUSIP: 22822VBF7<br>LEI: 54930012H97VSM0I2R19 | Long             | DBT              |  | US        |      41000 | PA      | $41588.13     | 0.01%             | 2029-09-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Castle Hill INGOTS Ltd                                                           | CSTL Commercial Mortgage Trust 2024-GATE                                         | CUSIP: 22945JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      40000 | PA      | $40116.50     | 0.01%             | 2041-11-10      | Variable      | 4.76%                 | No            |                  2 | On Loan: No      |
| Countrywide Asset-Backed Certificates                                            | CWABS Asset-Backed Certificates Trust 2006-7                                     | CUSIP: 232422AF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     282996 | PA      | $232227.71    | 0.08%             | 2046-04-25      | Floating      | 4.53%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2006-OC7                                                  | CUSIP: 23243VAD2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     179464 | PA      | $165432.61    | 0.06%             | 2046-07-25      | Floating      | 4.61%                 | No            |                  2 | On Loan: No      |
| Countrywide Alternative Loan Trust                                               | Alternative Loan Trust 2006-OC10                                                 | CUSIP: 23245FAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      99187 | PA      | $90865.89     | 0.03%             | 2036-11-25      | Floating      | 4.57%                 | No            |                  2 | On Loan: No      |
| DK Trust                                                                         | DK Trust 2025-LXP                                                                | CUSIP: 23292LAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      44000 | PA      | $44041.25     | 0.02%             | 2037-08-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| DK Trust                                                                         | DK Trust 2025-LXP                                                                | CUSIP: 23292LAG7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      15000 | PA      | $15037.50     | 0.01%             | 2037-08-15      | Floating      | 6.92%                 | No            |                  2 | On Loan: No      |
| DB Master Finance LLC                                                            | DB Master Finance LLC                                                            | CUSIP: 233046AU5<br>LEI: 549300F17UZJL70BPB08 | Long             | ABS-O            | CORP              | US        |     108000 | PA      | $108274.49    | 0.04%             | 2055-08-20      | Fixed         | 4.89%                 | No            |                  2 | On Loan: No      |
| DBC 2025-DBC Mortgage Trust                                                      | DBC 2025-DBC Mortgage Trust                                                      | CUSIP: 23306HAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     249000 | PA      | $249311.25    | 0.09%             | 2038-06-15      | Floating      | 5.40%                 | No            |                  2 | On Loan: No      |
| DBC 2025-DBC Mortgage Trust                                                      | DBC 2025-DBC Mortgage Trust                                                      | CUSIP: 23306HAE5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100187.50    | 0.04%             | 2038-06-15      | Floating      | 6.10%                 | No            |                  2 | On Loan: No      |
| DBGS Mortgage Trust                                                              | DBGS 2024-SBL                                                                    | CUSIP: 23306QAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     250000 | PA      | $250000.00    | 0.09%             | 2034-08-15      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| DT MIDSTREAM INC                                                                 | DT Midstream Inc                                                                 | CUSIP: 23345MAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      17000 | PA      | $16637.17     | 0.01%             | 2029-06-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| DK Trust                                                                         | DK Trust 2024-SPBX                                                               | CUSIP: 23346LAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      20000 | PA      | $20037.50     | 0.01%             | 2034-03-15      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| DK Trust                                                                         | DK Trust 2024-SPBX                                                               | CUSIP: 23346LAN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      58000 | PA      | $58183.29     | 0.02%             | 2034-03-15      | Floating      | 8.03%                 | No            |                  2 | On Loan: No      |
| Dwight 2025-FL1 Issuer LLC                                                       | Dwight 2025-FL1 Issuer LLC                                                       | CUSIP: 233636AA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     100000 | PA      | $99833.89     | 0.04%             | 2042-06-18      | Floating      | 5.69%                 | No            |                  2 | On Loan: No      |
| DANA INC                                                                         | Dana Inc                                                                         | CUSIP: 235825AG1<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |      50000 | PA      | $49951.00     | 0.02%             | 2028-06-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| DC Commercial Mortgage Trust                                                     | DC Trust 2024-HLTN                                                               | CUSIP: 24022FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $10121.50     | 0.00%             | 2040-04-13      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| Deephaven Residential Mortgage Trust                                             | Deephaven Residential Mortgage Trust 2024-1                                      | CUSIP: 24380QAC6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      76395 | PA      | $76918.15     | 0.03%             | 2069-07-25      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| Diameter Capital CLO                                                             | Diameter Capital CLO 8 Ltd                                                       | CUSIP: 25256JAA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     350000 | PA      | $350700.81    | 0.12%             | 2037-10-20      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                           | Diamondback Energy Inc                                                           | CUSIP: 25278XAM1<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     501000 | PA      | $496435.01    | 0.18%             | 2026-12-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                           | Diamondback Energy Inc                                                           | CUSIP: 25278XAN9<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     486000 | PA      | $469281.19    | 0.17%             | 2029-12-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                           | Diamondback Energy Inc                                                           | CUSIP: 25278XAR0<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     277000 | PA      | $257497.74    | 0.09%             | 2031-03-24      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                           | Diamondback Energy Inc                                                           | CUSIP: 25278XAT6<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     211000 | PA      | $166218.62    | 0.06%             | 2052-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                           | Diamondback Energy Inc                                                           | CUSIP: 25278XAX7<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     230000 | PA      | $233147.80    | 0.08%             | 2027-04-18      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| DIAMONDBACK ENERGY INC                                                           | Diamondback Energy Inc                                                           | CUSIP: 25278XAY5<br>LEI: 549300R22LSX6OHWEN64 | Long             | DBT              | CORP              | US        |     264000 | PA      | $270911.33    | 0.10%             | 2030-01-30      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Diameter Capital CLO                                                             | Diameter Capital CLO 10 Ltd                                                      | CUSIP: 25290BAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     500000 | PA      | $500907.45    | 0.18%             | 2038-04-20      | Floating      | 5.19%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                                            | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      13000 | PA      | $13000.61     | 0.00%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                                                            | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     100000 | PA      | $99588.33     | 0.04%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                                                         | Discovery Communications LLC                                                     | CUSIP: 25470DBS7<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |     503000 | PA      | $492864.68    | 0.18%             | 2028-03-20      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| DISCOVERY COMMUNICATIONS                                                         | Discovery Communications LLC                                                     | CUSIP: 25470DCC1<br>LEI: L2Z2MO2EQURH3BREWI15 | Long             | DBT              | CORP              | US        |     100000 | PA      | $92550.00     | 0.03%             | 2030-05-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| DIRECTV FINANCING LLC                                                            | Directv Financing LLC                                                            | CUSIP: 254945AA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      14000 | PA      | $13917.11     | 0.00%             | 2030-02-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY SOUTH                                                            | Dominion Energy South Carolina Inc                                               | CUSIP: 25731VAC8<br>LEI: 3QRVFYR22IUIEOORTK28 | Long             | DBT              | CORP              | US        |       9000 | PA      | $9359.05      | 0.00%             | 2035-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY INC                                                              | Dominion Energy Inc                                                              | CUSIP: 25746UDU0<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |      60000 | PA      | $65538.24     | 0.02%             | 2054-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| RR DONNELLEY & SONS CO                                                           | RR Donnelley & Sons Co                                                           | CUSIP: 257867BK6<br>LEI: SU4X0P4WWRGOQDTSV032 | Long             | DBT              | CORP              | US        |     100000 | PA      | $100522.50    | 0.04%             | 2029-08-01      | Fixed         | 10.88%                | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $8286.79      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                           | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | XX        |          1 | NC      | $-5577.04     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $36852.90     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $9296.08      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED USD / SOLD JPY                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $4601.65      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED USD / SOLD JPY                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $37838.91     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                           | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |          1 | NC      | $-16551.14    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                           | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |          1 | NC      | $-14806.31    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                           | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | BR        |          1 | NC      | $16928.07     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED CNH / SOLD USD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | CN        |          1 | NC      | $-5040.27     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED USD / SOLD ZAR                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $-5330.10     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |          1 | NC      | $3337.22      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED USD / SOLD COP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $-9311.14     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                                                               | PURCHASED USD / SOLD PEN                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |          1 | NC      | $-11350.89    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED USD / SOLD COP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $-1734.70     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                           | PURCHASED USD / SOLD JPY                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |          1 | NC      | $2189.92      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $17208.36     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                           | PURCHASED USD / SOLD JPY                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |          1 | NC      | $3348.85      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |          1 | NC      | $35.10        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $6648.85      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |          1 | NC      | $-18727.98    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $1317.97      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                           | PURCHASED JPY / SOLD USD                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | JP        |          1 | NC      | $-26234.84    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED GBP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | GB        |          1 | NC      | $-4929.85     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED ZAR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | ZA        |          1 | NC      | $2494.94      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD ZAR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $-2482.10     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED USD / SOLD COP                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $-7647.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED COP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | CO        |          1 | NC      | $7757.96      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |          1 | NC      | $-6593.18     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | BR        |          1 | NC      | $3509.10      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |          1 | NC      | $-4589.26     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | BR        |          1 | NC      | $8622.66      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                                                               | PURCHASED USD / SOLD PEN                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |          1 | NC      | $-3251.58     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                                                               | PURCHASED PEN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | PE        |          1 | NC      | $3285.51      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| UBS AG                                                                           | PURCHASED USD / SOLD JPY                                                         | CUSIP: 000000000<br>LEI: BFM8T61CT2L1QCEMIK50 | N/A              | DFE              |  | US        |          1 | NC      | $26.24        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD JPY                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $3.25         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                                                               | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | MX        |          1 | NC      | $-4691.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Bank of America NA                                                               | PURCHASED USD / SOLD MXN                                                         | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DFE              |  | US        |          1 | NC      | $4626.33      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED EUR / SOLD HUF                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | XX        |          1 | NC      | $-43.82       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED JPY / SOLD CAD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | JP        |          1 | NC      | $-47.85       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED COP / SOLD GBP                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | CO        |          1 | NC      | $306.84       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD CAD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $222.45       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED CZK / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | CZ        |          1 | NC      | $-687.87      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |          1 | NC      | $-677.99      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED JPY / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | JP        |          1 | NC      | $-270.03      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED CZK / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CZ        |          1 | NC      | $-1875.71     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED USD / SOLD CAD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |          1 | NC      | $133.97       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED HUF / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | HU        |          1 | NC      | $-902.84      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED EUR / SOLD HUF                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | XX        |          1 | NC      | $-43.64       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED CNH / SOLD USD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | CN        |          1 | NC      | $-401.32      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED CNH / SOLD USD                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | CN        |          1 | NC      | $-1106.66     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED INR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | IN        |          1 | NC      | $-279.04      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED INR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | IN        |          1 | NC      | $-1314.70     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED IDR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | ID        |          1 | NC      | $-270.81      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED IDR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | ID        |          1 | NC      | $-1404.83     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED EGP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | EG        |          1 | NC      | $20.71        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED ZAR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | ZA        |          1 | NC      | $-2337.27     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED ZAR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | ZA        |          1 | NC      | $-660.71      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED COP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CO        |          1 | NC      | $371.04       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED USD / SOLD SGD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |          1 | NC      | $138.98       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED THB / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | TH        |          1 | NC      | $-319.80      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED THB / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | TH        |          1 | NC      | $-73.55       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED MYR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | MY        |          1 | NC      | $-1077.45     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED MYR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | MY        |          1 | NC      | $-226.76      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD TRY                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $-20.37       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED PLN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | PL        |          1 | NC      | $-2245.92     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED PLN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | PL        |          1 | NC      | $-190.65      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED NGN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | NG        |          1 | NC      | $116.92       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED NGN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | NG        |          1 | NC      | $181.43       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED NGN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | NG        |          1 | NC      | $70.49        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED NGN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | NG        |          1 | NC      | $109.39       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $5861.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED ARS / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | AR        |          1 | NC      | $-165.63      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED USD / SOLD COP                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | US        |          1 | NC      | $-68.10       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED BRL / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | BR        |          1 | NC      | $-241.65      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED CLP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CL        |          1 | NC      | $-171.44      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED CLP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | CL        |          1 | NC      | $-48.21       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED TRY / SOLD USD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | TR        |          1 | NC      | $9.78         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED MXN / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | MX        |          1 | NC      | $-913.69      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $104.63       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED CHF / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | CH        |          1 | NC      | $-236.62      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED USD / SOLD SGD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $182.07       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED GBP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | GB        |          1 | NC      | $-204.55      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED HUF / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | HU        |          1 | NC      | $-251.82      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED CHF / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | CH        |          1 | NC      | $-184.21      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED USD / SOLD MXN                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $2090.89      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED PHP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | PH        |          1 | NC      | $-30.79       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD ZAR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $1.17         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD ZAR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $2.17         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | XX        |          1 | NC      | $-116.56      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Morgan Stanley & Co. International PLC                                           | PURCHASED USD / SOLD CNH                                                         | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DFE              |  | US        |          1 | NC      | $7.55         | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED PHP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | PH        |          1 | NC      | $-15.80       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $70.10        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD AUD                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $44.68        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |          1 | NC      | $280.82       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BNP Paribas SA                                                                   | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | N/A              | DFE              |  | US        |          1 | NC      | $475.69       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Citibank NA                                                                      | PURCHASED EGP / SOLD USD                                                         | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DFE              |  | EG        |          1 | NC      | $-5.98        | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED CAD / SOLD JPY                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | CA        |          1 | NC      | $-38.42       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED USD / SOLD BRL                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | US        |          1 | NC      | $-153.85      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Goldman Sachs International                                                      | PURCHASED EUR / SOLD USD                                                         | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DFE              |  | XX        |          1 | NC      | $-60.25       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Barclays Bank PLC                                                                | PURCHASED USD / SOLD EUR                                                         | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DFE              |  | US        |          1 | NC      | $51.26        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| DOW CHEMICAL CO/THE                                                              | Dow Chemical Co/The                                                              | CUSIP: 260543DK6<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |      15000 | PA      | $13469.36     | 0.00%             | 2054-02-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL CO/THE                                                              | Dow Chemical Co/The                                                              | CUSIP: 260543DN0<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |      83000 | PA      | $82719.53     | 0.03%             | 2031-01-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| DOW CHEMICAL CO/THE                                                              | Dow Chemical Co/The                                                              | CUSIP: 260543DP5<br>LEI: ZQUIP1CSZO8LXRBSOU78 | Long             | DBT              | CORP              | US        |      14000 | PA      | $14013.55     | 0.00%             | 2036-03-15      | Fixed         | 5.65%                 | No            |                  2 | On Loan: —       |
| DUKE ENERGY CORP                                                                 | Duke Energy Corp                                                                 | CUSIP: 26441CAY1<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |      26000 | PA      | $20513.52     | 0.01%             | 2047-08-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                                                 | Duke Energy Corp                                                                 | CUSIP: 26441CBN4<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |      12000 | PA      | $8492.92      | 0.00%             | 2051-06-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORP                                                                 | Duke Energy Corp                                                                 | CUSIP: 26441CCF0<br>LEI: I1BZKREC126H0VB1BL91 | Long             | DBT              | CORP              | US        |     349000 | PA      | $352515.08    | 0.13%             | 2054-06-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                            | Duke Energy Carolinas LLC                                                        | CUSIP: 26442CAT1<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |      27000 | PA      | $20923.43     | 0.01%             | 2047-12-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                            | Duke Energy Carolinas LLC                                                        | CUSIP: 26442CAZ7<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |      64000 | PA      | $44718.84     | 0.02%             | 2049-08-15      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                            | Duke Energy Carolinas LLC                                                        | CUSIP: 26442CBC7<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |      41000 | PA      | $29765.62     | 0.01%             | 2051-04-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                            | Duke Energy Carolinas LLC                                                        | CUSIP: 26442CBH6<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |      29000 | PA      | $21398.06     | 0.01%             | 2052-03-15      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                            | Duke Energy Carolinas LLC                                                        | CUSIP: 26442CBK9<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |      58000 | PA      | $57093.82     | 0.02%             | 2053-01-15      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CAROLINAS                                                            | Duke Energy Carolinas LLC                                                        | CUSIP: 26442CBL7<br>LEI: MWIUSDMN17TCR56VW396 | Long             | DBT              | CORP              | US        |      39000 | PA      | $38759.01     | 0.01%             | 2054-01-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY OHIO INC                                                             | Duke Energy Ohio Inc                                                             | CUSIP: 26442EAH3<br>LEI: L6KC0HABGHNFU1Z6QY21 | Long             | DBT              | CORP              | US        |      99000 | PA      | $90615.90     | 0.03%             | 2030-06-01      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY OHIO INC                                                             | Duke Energy Ohio Inc                                                             | CUSIP: 26442EAJ9<br>LEI: L6KC0HABGHNFU1Z6QY21 | Long             | DBT              | CORP              | US        |      47000 | PA      | $48817.43     | 0.02%             | 2033-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY OHIO INC                                                             | Duke Energy Ohio Inc                                                             | CUSIP: 26442EAL4<br>LEI: L6KC0HABGHNFU1Z6QY21 | Long             | DBT              | CORP              | US        |      50000 | PA      | $50254.46     | 0.02%             | 2054-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                                         | Duke Energy Progress LLC                                                         | CUSIP: 26442UAK0<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     178000 | PA      | $107212.85    | 0.04%             | 2050-08-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                                         | Duke Energy Progress LLC                                                         | CUSIP: 26442UAP9<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |       9000 | PA      | $7160.30      | 0.00%             | 2052-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                                         | Duke Energy Progress LLC                                                         | CUSIP: 26442UAU8<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |     258000 | PA      | $263103.57    | 0.09%             | 2035-03-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY PROGRESS LLC                                                         | Duke Energy Progress LLC                                                         | CUSIP: 26442UAV6<br>LEI: 0NIFZ782LS46WOC9QK20 | Long             | DBT              | CORP              | US        |      10000 | PA      | $10085.90     | 0.00%             | 2055-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY FLORIDA LLC                                                          | Duke Energy Florida LLC                                                          | CUSIP: 26444HAL5<br>LEI: 7MOHLM3DKE63RX2ZCN83 | Long             | DBT              | CORP              | US        |      33000 | PA      | $21789.21     | 0.01%             | 2051-12-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trust                                                  | Durst Commercial Mortgage Trust 2025-151                                         | CUSIP: 266895AA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     120000 | PA      | $122285.53    | 0.04%             | 2042-08-10      | Variable      | 5.15%                 | No            |                  2 | On Loan: No      |
| DURST Commercial Mortgage Trust                                                  | Durst Commercial Mortgage Trust 2025-151                                         | CUSIP: 266895AG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $102870.26    | 0.04%             | 2042-08-10      | Variable      | 6.79%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                                               | EFMT 2024-NQM1                                                                   | CUSIP: 26845DAA3<br>LEI: 254900GTI06L3BTCLG55 | Long             | ABS-MBS          | CORP              | US        |     115941 | PA      | $116578.75    | 0.04%             | 2069-11-25      | Variable      | 5.71%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                                               | EFMT 2025-NQM1                                                                   | CUSIP: 26846CAN6<br>LEI: 254900TJEVLCYF1H3X71 | Long             | ABS-MBS          | CORP              | US        |     350000 | PA      | $354705.37    | 0.13%             | 2070-01-25      | Variable      | 6.59%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                                               | EFMT 2025-INV1                                                                   | CUSIP: 26846XAA8<br>LEI: 2549005YTE90D77H8V23 | Long             | ABS-MBS          | CORP              | US        |     165093 | PA      | $166266.37    | 0.06%             | 2070-03-25      | Variable      | 5.63%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                                               | EFMT 2025-NQM3                                                                   | CUSIP: 26846YAC2<br>LEI: 2549007I2BIJP4S0O647 | Long             | ABS-MBS          | CORP              | US        |     196676 | PA      | $198269.33    | 0.07%             | 2070-08-25      | Variable      | 5.49%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                                               | EFMT 2025-INV3                                                                   | CUSIP: 26847NAA9<br>LEI: 254900C1B6ZW3SK54M36 | Long             | ABS-MBS          | CORP              | US        |     378819 | PA      | $379389.61    | 0.14%             | 2070-07-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| ELM Trust 2024                                                                   | ELM Trust 2024-ELM                                                               | CUSIP: 26860XAA9<br>LEI: 254900IIXJ23M1M8Y987 | Long             | ABS-MBS          | CORP              | US        |      11000 | PA      | $11077.89     | 0.00%             | 2039-06-10      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| ELM Trust 2024                                                                   | ELM Trust 2024-ELM                                                               | CUSIP: 26860XAU5<br>LEI: 254900IIXJ23M1M8Y987 | Long             | ABS-MBS          | CORP              | US        |      11000 | PA      | $11103.21     | 0.00%             | 2039-06-10      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| ELM Trust 2024                                                                   | ELM Trust 2024-ELM                                                               | CUSIP: 26860XBG5<br>LEI: 254900IIXJ23M1M8Y987 | Long             | ABS-MBS          | CORP              | US        |      29000 | PA      | $29193.88     | 0.01%             | 2039-06-10      | Variable      | 7.79%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAF6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     446000 | PA      | $442642.79    | 0.16%             | 2027-10-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAG4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     717000 | PA      | $778163.55    | 0.28%             | 2030-02-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAL3<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     198000 | PA      | $200401.67    | 0.07%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAM1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |      31000 | PA      | $30716.35     | 0.01%             | 2026-05-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAN9<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     493000 | PA      | $461389.90    | 0.16%             | 2031-05-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAQ2<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |      75000 | PA      | $77450.86     | 0.03%             | 2028-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAR0<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     256000 | PA      | $267966.46    | 0.10%             | 2034-02-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAT6<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     108000 | PA      | $110535.67    | 0.04%             | 2027-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAV1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     278000 | PA      | $279570.09    | 0.10%             | 2028-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAX7<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     534000 | PA      | $534097.74    | 0.19%             | 2029-01-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LAZ2<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     183000 | PA      | $189101.78    | 0.07%             | 2029-04-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LBB4<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |     493000 | PA      | $543130.11    | 0.19%             | 2030-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LBD0<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |    2765000 | PA      | $2767538.57   | 0.98%             | 2031-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| EQT CORP                                                                         | EQT Corp                                                                         | CUSIP: 26884LBH1<br>LEI: 4NT01YGM4X7ZX86ISY52 | Long             | DBT              | CORP              | US        |      94000 | PA      | $95606.55     | 0.03%             | 2027-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                                                         | Permian Resources Operating LLC                                                  | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |      20000 | PA      | $20275.47     | 0.01%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Ellington Financial Mortgage Trust                                               | EFMT 2025-NQM5                                                                   | CUSIP: 28225KAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99998.15     | 0.04%             | 2070-11-25      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| ELFI Graduate Loan Program LLC                                                   | ELFI Graduate Loan Program 2024-A LLC                                            | CUSIP: 28627LAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     146769 | PA      | $149642.44    | 0.05%             | 2049-08-25      | Fixed         | 5.56%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 39 Ltd                                                               | Elmwood CLO 39 Ltd                                                               | CUSIP: 289910AA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $249856.78    | 0.09%             | 2038-04-17      | Floating      | 5.02%                 | No            |                  2 | On Loan: No      |
| Elmwood CLO 24 Ltd                                                               | Elmwood CLO 24 Ltd                                                               | CUSIP: 290020AL0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     258000 | PA      | $258555.47    | 0.09%             | 2038-01-17      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| EMBRAER NETHERLANDS FINA                                                         | Embraer Netherlands Finance BV                                                   | CUSIP: 29082HAE2<br>LEI: 724500PBR8LR26XBSP67 | Long             | DBT              | CORP              | NL        |     197000 | PA      | $210593.00    | 0.07%             | 2035-02-11      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                                                         | EMRLD Borrower LP / Emerald Co-Issuer Inc                                        | CUSIP: 29103CAA6<br>LEI: 98450099EE3A0ZD5F786 | Long             | DBT              | CORP              | US        |      50000 | PA      | $51401.55     | 0.02%             | 2030-12-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                                                            | Encompass Health Corp                                                            | CUSIP: 29261AAB6<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |      25000 | PA      | $24736.69     | 0.01%             | 2030-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ENERGIZER HOLDINGS INC                                                           | Energizer Holdings Inc                                                           | CUSIP: 29272WAD1<br>LEI: 5493000D6NN0V57UME20 | Long             | DBT              | CORP              | US        |      18000 | PA      | $17276.78     | 0.01%             | 2029-03-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                               | Energy Transfer LP                                                               | CUSIP: 29273VAW0<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     136000 | PA      | $131274.89    | 0.05%             | 2054-05-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                               | Energy Transfer LP                                                               | CUSIP: 29273VBF6<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      34000 | PA      | $33914.04     | 0.01%             | 2055-04-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                               | Energy Transfer LP                                                               | CUSIP: 29278NAE3<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |       5000 | PA      | $4879.86      | 0.00%             | 2048-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENTEGRIS INC                                                                     | Entegris Inc                                                                     | CUSIP: 29362UAC8<br>LEI: IYX6OWO7BT5DKO3BYG52 | Long             | DBT              | CORP              | US        |      12000 | PA      | $11799.58     | 0.00%             | 2028-04-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| EQUINIX EU 2 FINANCING C                                                         | Equinix Europe 2 Financing Corp LLC                                              | CUSIP: 29390XAA2<br>LEI: 254900FSZR46BPMCKI50 | Long             | DBT              |  | US        |     206000 | PA      | $213634.47    | 0.08%             | 2034-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EQT Trust 2024-EXTR                                                              | EQT Trust 2024-EXTR                                                              | CUSIP: 29439DAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      71000 | PA      | $72627.80     | 0.03%             | 2041-07-05      | Variable      | 5.33%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                                      | Equinix Inc                                                                      | CUSIP: 29444UBM7<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |      85000 | PA      | $54518.73     | 0.02%             | 2051-09-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                                      | Equinix Inc                                                                      | CUSIP: 29444UBS4<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |     235000 | PA      | $212275.43    | 0.08%             | 2031-05-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| EQUINIX INC                                                                      | Equinix Inc                                                                      | CUSIP: 29444UBU9<br>LEI: 549300EVUN2BTLJ3GT74 | Long             | DBT              |  | US        |     264000 | PA      | $253816.65    | 0.09%             | 2032-04-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| EQUIPMENTSHARE.COM INC                                                           | EquipmentShare.com Inc                                                           | CUSIP: 29450YAA7<br>LEI: 254900PWJK48CGPKPI80 | Long             | DBT              | CORP              | US        |      50000 | PA      | $50377.00     | 0.02%             | 2028-05-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                                           | Extra Space Storage LP                                                           | CUSIP: 30225VAH0<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |      73000 | PA      | $71971.01     | 0.03%             | 2029-04-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                                           | Extra Space Storage LP                                                           | CUSIP: 30225VAK3<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |     391000 | PA      | $407586.67    | 0.15%             | 2030-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                                           | Extra Space Storage LP                                                           | CUSIP: 30225VAN7<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |      31000 | PA      | $30686.15     | 0.01%             | 2029-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                                           | Extra Space Storage LP                                                           | CUSIP: 30225VAP2<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |       7000 | PA      | $6274.44      | 0.00%             | 2030-10-15      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| EXTRA SPACE STORAGE LP                                                           | Extra Space Storage LP                                                           | CUSIP: 30225VAU1<br>LEI: 549300YNKSKNZFR8UC42 | Long             | DBT              |  | US        |      38000 | PA      | $38891.85     | 0.01%             | 2035-06-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Extended Stay America Trust                                                      | Extended Stay America Trust 2025-ESH                                             | CUSIP: 30227TAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100187.50    | 0.04%             | 2042-10-15      | Floating      | 5.45%                 | No            |                  2 | On Loan: No      |
| FORTESCUE TREASURY PTY L                                                         | Fortescue Treasury Pty Ltd                                                       | CUSIP: 30251GBA4<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |      16000 | PA      | $15936.11     | 0.01%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                                               | Meta Platforms Inc                                                               | CUSIP: 30303M8K1<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     221000 | PA      | $183880.16    | 0.07%             | 2062-08-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                                               | Meta Platforms Inc                                                               | CUSIP: 30303M8R6<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |      35000 | PA      | $34893.24     | 0.01%             | 2063-05-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| META PLATFORMS INC                                                               | Meta Platforms Inc                                                               | CUSIP: 30303M8W5<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | DBT              | CORP              | US        |     125000 | PA      | $121036.37    | 0.04%             | 2064-08-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| FREMF Mortgage Trust                                                             | FREMF 2018-K80 Mortgage Trust                                                    | CUSIP: 30307RAE7<br>LEI: N/A                  | Long             | ABS-MBS          | USGSE             | US        |      95000 | PA      | $93227.00     | 0.03%             | 2050-08-25      | Variable      | 4.23%                 | No            |                  2 | On Loan: No      |
| FS Rialto Issuer Ltd                                                             | FS Rialto 2024-FL9 Issuer LLC                                                    | CUSIP: 30338WAL3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     100000 | PA      | $100281.96    | 0.04%             | 2039-10-19      | Floating      | 5.66%                 | No            |                  2 | On Loan: No      |
| FNA Trust                                                                        | FNA 8 LLC                                                                        | CUSIP: 30340WAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      81577 | PA      | $81998.35     | 0.03%             | 2045-03-15      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3131XU2J5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     251008 | PA      | $230003.17    | 0.08%             | 2046-09-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3131YA6L9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     313010 | PA      | $284103.84    | 0.10%             | 2048-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 31329PX73<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      86851 | PA      | $83946.75     | 0.03%             | 2048-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 31329PYM9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     111112 | PA      | $110601.88    | 0.04%             | 2049-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132A5HR9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     163592 | PA      | $157774.75    | 0.06%             | 2047-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132CW5Q3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      26839 | PA      | $25792.29     | 0.01%             | 2037-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132CXBV3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      26325 | PA      | $25412.21     | 0.01%             | 2037-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DMQW8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     218385 | PA      | $195776.29    | 0.07%             | 2050-06-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DNAY9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      73494 | PA      | $63426.10     | 0.02%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DNF81<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     519456 | PA      | $428175.20    | 0.15%             | 2052-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DNHE6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     366531 | PA      | $352389.19    | 0.13%             | 2051-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DNWL3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     313938 | PA      | $303048.78    | 0.11%             | 2050-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DQ2C9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     444923 | PA      | $384728.84    | 0.14%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DQS80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     267200 | PA      | $241899.07    | 0.09%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DQUP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     202394 | PA      | $195769.59    | 0.07%             | 2052-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DQXP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      27844 | PA      | $28268.84     | 0.01%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DSFW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     399007 | PA      | $308259.36    | 0.11%             | 2052-04-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DSQ62<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     705608 | PA      | $704675.61    | 0.25%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DTP79<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      77667 | PA      | $63277.33     | 0.02%             | 2052-08-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DU2R7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      82464 | PA      | $84900.31     | 0.03%             | 2054-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DUDP9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     408643 | PA      | $365855.47    | 0.13%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DVL94<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     445377 | PA      | $385407.51    | 0.14%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWAW3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     774800 | PA      | $634376.46    | 0.23%             | 2051-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWBN2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      22411 | PA      | $17314.80     | 0.01%             | 2051-05-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWBP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     809714 | PA      | $661693.35    | 0.24%             | 2051-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWBQ5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      67544 | PA      | $57620.34     | 0.02%             | 2051-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWC27<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      97686 | PA      | $83318.36     | 0.03%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWCP6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      11920 | PA      | $10170.47     | 0.00%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWCU5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      53808 | PA      | $45972.14     | 0.02%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWDC4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1797403 | PA      | $1464920.17   | 0.52%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWDJ9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     480072 | PA      | $409161.10    | 0.15%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWDQ3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     544350 | PA      | $443641.94    | 0.16%             | 2052-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWDR1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     482906 | PA      | $410227.95    | 0.15%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWDS9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     734975 | PA      | $653778.02    | 0.23%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWDY6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     140936 | PA      | $119965.47    | 0.04%             | 2052-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWE58<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     230303 | PA      | $219443.39    | 0.08%             | 2052-10-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWG80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     129323 | PA      | $129252.07    | 0.05%             | 2053-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWGF4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      51524 | PA      | $50425.78     | 0.02%             | 2053-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132DWJK0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     135951 | PA      | $135588.53    | 0.05%             | 2053-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132E0GX4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      85018 | PA      | $84937.67     | 0.03%             | 2053-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132E0UF7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      40361 | PA      | $37661.73     | 0.01%             | 2052-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3132E0YM8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     223202 | PA      | $216947.46    | 0.08%             | 2046-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Gold Pool                                                            | CUSIP: 31335BHH2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     126671 | PA      | $125835.28    | 0.04%             | 2047-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133AMPP5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      10324 | PA      | $7976.41      | 0.00%             | 2051-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133BU2R7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     155532 | PA      | $157920.19    | 0.06%             | 2053-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133CFU80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      57794 | PA      | $58559.35     | 0.02%             | 2053-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133KQ2Z8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      12234 | PA      | $12621.13     | 0.00%             | 2053-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133KQQT6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      36359 | PA      | $37677.31     | 0.01%             | 2053-02-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133KR5K6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     104096 | PA      | $105676.91    | 0.04%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133KR6D1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      76965 | PA      | $80002.50     | 0.03%             | 2053-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133KRJT2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      62737 | PA      | $63664.57     | 0.02%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133KRMR2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     223603 | PA      | $224711.73    | 0.08%             | 2053-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133KRPY4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      80620 | PA      | $81925.39     | 0.03%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133KYVY2<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     352807 | PA      | $307087.89    | 0.11%             | 2041-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133KYWE5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     606907 | PA      | $526427.07    | 0.19%             | 2042-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133KYWN5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     899192 | PA      | $780259.83    | 0.28%             | 2042-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133L74L8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     161979 | PA      | $149622.89    | 0.05%             | 2035-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133L8XH3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     125582 | PA      | $116154.75    | 0.04%             | 2037-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3133USJP7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     529690 | PA      | $433798.29    | 0.15%             | 2050-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BUXZ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     186330 | PA      | $187770.79    | 0.07%             | 2055-02-25      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae REMICS                                                                | CUSIP: 3136BVN46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     270125 | PA      | $273130.71    | 0.10%             | 2055-05-25      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| Freddie Mac Multiclass Certificates                                              | Freddie Mac Multiclass Certificates Series 2024-P015                             | CUSIP: 3137HDJN1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      13920 | PA      | $13896.11     | 0.00%             | 2032-11-25      | Variable      | 4.30%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HHJ85<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     799292 | PA      | $804189.13    | 0.29%             | 2054-11-25      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HJX51<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     778643 | PA      | $783369.70    | 0.28%             | 2055-02-25      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HKBM5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1094873 | PA      | $1102229.15   | 0.39%             | 2055-03-25      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac REMICS                                                               | CUSIP: 3137HKE75<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     457092 | PA      | $459787.08    | 0.16%             | 2055-01-25      | Floating      | 5.53%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3138WD2D2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     107400 | PA      | $101829.64    | 0.04%             | 2045-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140J6GJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       9342 | PA      | $8803.26      | 0.00%             | 2047-05-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140J8MA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      16633 | PA      | $16387.84     | 0.01%             | 2029-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140NVJY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      20000 | PA      | $20787.01     | 0.01%             | 2031-06-01      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140Q9KE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     109734 | PA      | $108881.02    | 0.04%             | 2048-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QAB58<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     138957 | PA      | $137762.15    | 0.05%             | 2048-12-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QC3S3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     120318 | PA      | $112335.86    | 0.04%             | 2050-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QDJY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      60237 | PA      | $56976.02     | 0.02%             | 2035-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QEXQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     153420 | PA      | $125994.43    | 0.04%             | 2050-09-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QFNX3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     199926 | PA      | $180971.41    | 0.06%             | 2050-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QGV79<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      31661 | PA      | $29998.85     | 0.01%             | 2036-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QLKY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      31034 | PA      | $29404.23     | 0.01%             | 2036-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QMCD4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     100024 | PA      | $85343.92     | 0.03%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QMHX5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     772976 | PA      | $669993.37    | 0.24%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QNZ39<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      11237 | PA      | $10917.36     | 0.00%             | 2037-04-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QPDV6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       5140 | PA      | $5003.87      | 0.00%             | 2037-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QQ3U7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      56775 | PA      | $58573.75     | 0.02%             | 2052-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QQ4J1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      13861 | PA      | $14408.63     | 0.01%             | 2052-12-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QQLA1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     228275 | PA      | $223669.99    | 0.08%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QQTM7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      47144 | PA      | $48637.54     | 0.02%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QQWF8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      34091 | PA      | $35170.56     | 0.01%             | 2052-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QQWT8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      28312 | PA      | $29438.08     | 0.01%             | 2052-11-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QR3K7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      87155 | PA      | $89619.86     | 0.03%             | 2053-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QRDC4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      59860 | PA      | $62200.78     | 0.02%             | 2053-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QRER0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     116735 | PA      | $120433.87    | 0.04%             | 2053-01-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QRFW8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     381164 | PA      | $373159.18    | 0.13%             | 2052-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QSAY7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      63436 | PA      | $64492.25     | 0.02%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QSBJ9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     164622 | PA      | $171368.78    | 0.06%             | 2053-05-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QSF48<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      24722 | PA      | $25373.51     | 0.01%             | 2053-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QSP47<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     111063 | PA      | $113080.23    | 0.04%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QST27<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     220276 | PA      | $224073.78    | 0.08%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QSUC3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      83544 | PA      | $85692.46     | 0.03%             | 2053-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QSUJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     236510 | PA      | $245948.78    | 0.09%             | 2053-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QSVJ7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      65421 | PA      | $66458.83     | 0.02%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QU2G0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     155795 | PA      | $161517.05    | 0.06%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QUBY1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     211656 | PA      | $217496.42    | 0.08%             | 2054-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QUCP9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |          0 | PA      | $0.00         | 0.00%             | 2054-03-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QUHR0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      29906 | PA      | $30854.00     | 0.01%             | 2054-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QUJC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |          0 | PA      | $0.00         | 0.00%             | 2054-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QUVH6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      54694 | PA      | $56028.34     | 0.02%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QUVS2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |          0 | PA      | $0.00         | 0.00%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QUVV5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      94303 | PA      | $97794.65     | 0.03%             | 2054-06-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QUYU4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |          0 | PA      | $0.00         | 0.00%             | 2054-07-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140QVA61<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |          0 | PA      | $0.00         | 0.00%             | 2054-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140W0P82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     467158 | PA      | $473042.72    | 0.17%             | 2054-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140W1AC7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     121440 | PA      | $103262.66    | 0.04%             | 2053-07-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140X8ZF7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     318540 | PA      | $288610.22    | 0.10%             | 2050-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140X9X34<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      35534 | PA      | $27467.39     | 0.01%             | 2051-03-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XA6H0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     117942 | PA      | $109634.34    | 0.04%             | 2036-05-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XBXK1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     185035 | PA      | $171804.66    | 0.06%             | 2036-07-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XDGA8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      56394 | PA      | $57115.01     | 0.02%             | 2050-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XEAL8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     866139 | PA      | $754504.85    | 0.27%             | 2041-12-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XFLU3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     268781 | PA      | $240945.41    | 0.09%             | 2052-01-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XG3A5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      18901 | PA      | $18591.16     | 0.01%             | 2034-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XGX46<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     580214 | PA      | $472876.90    | 0.17%             | 2052-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XL3X4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     211592 | PA      | $198415.05    | 0.07%             | 2050-01-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XL5C8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     314923 | PA      | $321343.18    | 0.11%             | 2053-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XLAH1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      52592 | PA      | $52703.09     | 0.02%             | 2049-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XLE95<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     136744 | PA      | $138736.46    | 0.05%             | 2053-05-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XLUL0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      12683 | PA      | $12136.38     | 0.00%             | 2053-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XLZ35<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      77372 | PA      | $74807.05     | 0.03%             | 2050-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XM2L9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      38318 | PA      | $36694.82     | 0.01%             | 2047-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XMEZ5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      38289 | PA      | $39330.80     | 0.01%             | 2047-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XMHW9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      18903 | PA      | $18570.36     | 0.01%             | 2034-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XMKG0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      71141 | PA      | $68539.33     | 0.02%             | 2035-02-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XMMF0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     119206 | PA      | $123033.17    | 0.04%             | 2053-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XMQV1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     559115 | PA      | $482839.17    | 0.17%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XMX76<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |       8479 | PA      | $8607.59      | 0.00%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XNFL3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      77396 | PA      | $77356.82     | 0.03%             | 2053-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XNGB4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      33508 | PA      | $31562.49     | 0.01%             | 2051-02-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XNGD0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     158576 | PA      | $153740.36    | 0.05%             | 2050-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XNGE8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     111376 | PA      | $110211.27    | 0.04%             | 2050-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XP6Q7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     308563 | PA      | $251436.60    | 0.09%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XPHE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     123188 | PA      | $125306.72    | 0.04%             | 2054-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XPQK8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     558675 | PA      | $497482.69    | 0.18%             | 2052-07-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XPZE2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     221360 | PA      | $220332.13    | 0.08%             | 2053-09-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XRC52<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     707399 | PA      | $668630.84    | 0.24%             | 2049-09-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XRM44<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     164888 | PA      | $147082.88    | 0.05%             | 2052-05-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XRN84<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      94313 | PA      | $94436.65     | 0.03%             | 2054-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XTAZ4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     351673 | PA      | $325611.88    | 0.12%             | 2050-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XTBW0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     461891 | PA      | $378942.24    | 0.13%             | 2050-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140XTDK4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     602575 | PA      | $514516.38    | 0.18%             | 2051-06-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 3140Y66J4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      66650 | PA      | $68374.53     | 0.02%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418CQA5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      61255 | PA      | $57425.56     | 0.02%             | 2047-10-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418D3Y6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     595087 | PA      | $507934.58    | 0.18%             | 2051-09-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418D4X7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     638266 | PA      | $521184.40    | 0.19%             | 2051-10-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418D4Y5<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      44333 | PA      | $37835.39     | 0.01%             | 2051-10-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418D6B3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |    2142927 | PA      | $1749385.57   | 0.62%             | 2051-11-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418D6C1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      82211 | PA      | $70120.29     | 0.02%             | 2051-11-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418D6D9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      63677 | PA      | $56767.86     | 0.02%             | 2051-11-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418D7F3<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      40642 | PA      | $34672.96     | 0.01%             | 2051-12-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418D7G1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     243461 | PA      | $217396.55    | 0.08%             | 2051-12-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418DV66<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      63018 | PA      | $48688.46     | 0.02%             | 2051-01-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418DWQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      53906 | PA      | $41667.70     | 0.01%             | 2051-02-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418DXR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      58645 | PA      | $50836.89     | 0.02%             | 2041-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418DZU9<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      27293 | PA      | $21120.99     | 0.01%             | 2051-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418E7A2<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     244265 | PA      | $247091.67    | 0.09%             | 2054-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EAN0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     178600 | PA      | $152387.09    | 0.05%             | 2052-01-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EAW0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     145493 | PA      | $126650.38    | 0.05%             | 2042-01-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EB82<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     235536 | PA      | $192033.78    | 0.07%             | 2052-03-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EB90<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     866963 | PA      | $739893.52    | 0.26%             | 2052-03-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EBJ8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     262625 | PA      | $228449.12    | 0.08%             | 2042-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418ECQ1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     406518 | PA      | $346975.79    | 0.12%             | 2052-04-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418ECY4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     402054 | PA      | $349235.06    | 0.12%             | 2042-04-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EDC1<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     650601 | PA      | $554502.01    | 0.20%             | 2052-05-01      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EMR8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     917936 | PA      | $898563.69    | 0.32%             | 2053-01-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EPB0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      37407 | PA      | $36467.07     | 0.01%             | 2053-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EQL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      16069 | PA      | $15726.64     | 0.01%             | 2053-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418ES43<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     508459 | PA      | $508049.01    | 0.18%             | 2053-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418ES50<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     262397 | PA      | $266003.86    | 0.09%             | 2053-06-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EU99<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     195666 | PA      | $197714.61    | 0.07%             | 2053-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418EV80<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     406303 | PA      | $411713.87    | 0.15%             | 2053-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418FNL7<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      81701 | PA      | $84552.47     | 0.03%             | 2055-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                                                       | Fannie Mae Pool                                                                  | CUSIP: 31418FPJ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     158821 | PA      | $164412.51    | 0.06%             | 2055-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 31427MKT7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      84704 | PA      | $87206.68     | 0.03%             | 2055-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 31427N2N8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     153609 | PA      | $125718.92    | 0.04%             | 2052-02-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 31427QMV1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |          0 | PA      | $0.00         | 0.00%             | 2055-01-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 31427QMX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     464362 | PA      | $472350.22    | 0.17%             | 2055-01-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 31427QMY5<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     216053 | PA      | $223558.74    | 0.08%             | 2053-12-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142GQF80<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      94100 | PA      | $96446.09     | 0.03%             | 2053-11-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142GQKK7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      27534 | PA      | $27890.41     | 0.01%             | 2053-11-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142GR4C1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      66834 | PA      | $68665.61     | 0.02%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142GR6V7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     145261 | PA      | $149416.05    | 0.05%             | 2054-06-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142GRLM0<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      62700 | PA      | $64429.71     | 0.02%             | 2054-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142GRMY3<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      79423 | PA      | $81551.86     | 0.03%             | 2054-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142GRVW7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     128018 | PA      | $131612.97    | 0.05%             | 2054-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142GUKJ1<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |      85752 | PA      | $88286.62     | 0.03%             | 2055-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142GUTY9<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     180332 | PA      | $185661.06    | 0.07%             | 2055-05-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142GVCX7<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |    1030289 | PA      | $1056329.22   | 0.38%             | 2055-08-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142J6BL6<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     175965 | PA      | $182159.90    | 0.06%             | 2055-08-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                                                      | Freddie Mac Pool                                                                 | CUSIP: 3142J6BV4<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     447957 | PA      | $463727.81    | 0.17%             | 2055-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FERTITTA ENTERTAINMENT                                                           | Fertitta Entertainment LLC / Fertitta Entertainment Finance Co Inc               | CUSIP: 31556TAC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     100000 | PA      | $92694.27     | 0.03%             | 2030-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FIGRE Trust                                                                      | FIGRE Trust 2024-SL1                                                             | CUSIP: 31684JAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     107823 | PA      | $109476.80    | 0.04%             | 2053-07-25      | Variable      | 5.75%                 | No            |                  2 | On Loan: No      |
| FIRSTCASH INC                                                                    | FirstCash Inc                                                                    | CUSIP: 31944TAA8<br>LEI: 549300V2X3UU7K0DG350 | Long             | DBT              | CORP              | US        |      17000 | PA      | $17025.55     | 0.01%             | 2030-01-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| First Franklin Mtg Loan Asset Backed Certificates                                | First Franklin Mortgage Loan Trust 2006-FFH1                                     | CUSIP: 32027NZN4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     328874 | PA      | $301926.66    | 0.11%             | 2036-01-25      | Floating      | 4.71%                 | No            |                  2 | On Loan: No      |
| First Horizon Alternative Mortgage Securities                                    | First Horizon Alternative Mortgage Securities Trust 2005-AA12                    | CUSIP: 32051GQ81<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10994 | PA      | $6580.05      | 0.00%             | 2036-02-25      | Variable      | 4.93%                 | No            |                  2 | On Loan: No      |
| First Horizon Alternative Mortgage Securities                                    | First Horizon Alternative Mortgage Securities Trust 2006-AA7                     | CUSIP: 32052CAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     110558 | PA      | $86592.84     | 0.03%             | 2037-01-25      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| First NLC Trust                                                                  | First NLC Trust 2007-1                                                           | CUSIP: 32115BAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      41720 | PA      | $21011.82     | 0.01%             | 2037-08-25      | Floating      | 4.29%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                                                         | FirstEnergy Transmission LLC                                                     | CUSIP: 33767BAA7<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |      46000 | PA      | $44891.01     | 0.02%             | 2044-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                                                         | FirstEnergy Transmission LLC                                                     | CUSIP: 33767BAC3<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |     135000 | PA      | $116917.28    | 0.04%             | 2049-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                                                         | FirstEnergy Transmission LLC                                                     | CUSIP: 33767BAH2<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |     260000 | PA      | $260639.18    | 0.09%             | 2035-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                                                         | FirstEnergy Transmission LLC                                                     | CUSIP: 33767BAJ8<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |     207000 | PA      | $206783.89    | 0.07%             | 2033-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust                                                             | FirstKey Homes 2022-SFR3 Trust                                                   | CUSIP: 33768EAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     184000 | PA      | $180372.26    | 0.06%             | 2038-07-17      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Firstkey Homes Trust                                                             | FirstKey Homes 2022-SFR1 Trust                                                   | CUSIP: 33768NAL6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     170000 | PA      | $167517.59    | 0.06%             | 2039-05-19      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                                                 | FirstEnergy Corp                                                                 | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     180000 | PA      | $178874.03    | 0.06%             | 2027-07-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                                                 | FirstEnergy Corp                                                                 | CUSIP: 337932AJ6<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     153000 | PA      | $135933.80    | 0.05%             | 2047-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                                                 | FirstEnergy Corp                                                                 | CUSIP: 337932AL1<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     114000 | PA      | $105772.43    | 0.04%             | 2030-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                                                                 | FirstEnergy Corp                                                                 | CUSIP: 337932AM9<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |     563000 | PA      | $394278.90    | 0.14%             | 2050-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                                         | Florida Power & Light Co                                                         | CUSIP: 341081FX0<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |      50000 | PA      | $34957.25     | 0.01%             | 2049-10-01      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| FLORIDA POWER & LIGHT CO                                                         | Florida Power & Light Co                                                         | CUSIP: 341081GE1<br>LEI: A89MY1K3YLIGJMYWVX50 | Long             | DBT              | CORP              | US        |      83000 | PA      | $54073.46     | 0.02%             | 2051-12-04      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| FLOURISHING TRADE + INVT LTD                                                     | FLOURISHING TRADE + INVT LTD                                                     | CUSIP: 343427AA8<br>LEI: 894500SZ5TN63ZJ0Y632 | Long             | DBT              | CORP              | MU        |     211217 | PA      | $219412.22    | 0.08%             | 2030-04-02      | Variable      | 11.04%                | No            |                  3 | On Loan: No      |
| Fontainebleau Miami Beach Trust                                                  | Fontainebleau Miami Beach Mortgage Trust 2024-FBLU                               | CUSIP: 34461WAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     385000 | PA      | $385476.90    | 0.14%             | 2039-12-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397D59<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     200000 | PA      | $208984.02    | 0.07%             | 2028-11-07      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                                                         | Ford Motor Credit Co LLC                                                         | CUSIP: 345397G72<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |     402000 | PA      | $410730.67    | 0.15%             | 2028-03-20      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                                         | Foundation Finance Trust 2024-2                                                  | CUSIP: 35040VAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      88388 | PA      | $88435.54     | 0.03%             | 2050-03-15      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Foundation Finance Trust                                                         | Foundation Finance Trust 2025-1                                                  | CUSIP: 35040WAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     124678 | PA      | $125976.80    | 0.04%             | 2050-04-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                            | Foundry JV Holdco LLC                                                            | CUSIP: 350930AA1<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |     200000 | PA      | $206498.18    | 0.07%             | 2034-01-25      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                            | Foundry JV Holdco LLC                                                            | CUSIP: 350930AD5<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |     200000 | PA      | $212837.62    | 0.08%             | 2035-01-25      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| FOUNDRY JV HOLDCO LLC                                                            | Foundry JV Holdco LLC                                                            | CUSIP: 350930AG8<br>LEI: 21380048QROAMGM6EP30 | Long             | DBT              | CORP              | US        |     305000 | PA      | $321044.86    | 0.11%             | 2033-01-25      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                                                            | Freedom Mortgage Corp                                                            | CUSIP: 35640YAL1<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |      10000 | PA      | $11131.66     | 0.00%             | 2030-10-01      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                                                            | Freedom Mortgage Holdings LLC                                                    | CUSIP: 35641AAC2<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |     100000 | PA      | $104261.41    | 0.04%             | 2032-04-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                                          | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABE7<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |      23000 | PA      | $22982.30     | 0.01%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                                          | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABF4<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     110000 | PA      | $109854.17    | 0.04%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                                          | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABG2<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |     100000 | PA      | $101007.30    | 0.04%             | 2029-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                                          | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAA8<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |      65020 | PA      | $65764.67     | 0.02%             | 2029-11-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                                                          | Frontier Communications Holdings LLC                                             | CUSIP: 35908MAE0<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |      50000 | PA      | $52784.20     | 0.02%             | 2031-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                                                                | GEO Group Inc/The                                                                | CUSIP: 36162JAG1<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |     100000 | PA      | $105531.80    | 0.04%             | 2029-04-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                                                            | GFL Environmental Inc                                                            | CUSIP: 36168QAL8<br>LEI: 894500E7NLBY9VZRT696 | Long             | DBT              | CORP              | CA        |      50000 | PA      | $48912.60     | 0.02%             | 2028-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GCAT                                                                             | GCAT 2022-NQM1 Trust                                                             | CUSIP: 36168VAH6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     180000 | PA      | $139673.00    | 0.05%             | 2067-02-25      | Variable      | 3.92%                 | No            |                  2 | On Loan: No      |
| GCAT                                                                             | GCAT 2022-CM1 Trust                                                              | CUSIP: 36168XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     156896 | PA      | $147964.41    | 0.05%             | 2066-12-27      | Variable      | 2.89%                 | No            |                  2 | On Loan: No      |
| GCAT                                                                             | GCAT 2023-NQM4 Trust                                                             | CUSIP: 36171FAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     291821 | PA      | $279762.27    | 0.10%             | 2067-05-25      | Variable      | 4.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179N5V6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     112679 | PA      | $106417.68    | 0.04%             | 2044-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179NJB5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      25710 | PA      | $24953.32     | 0.01%             | 2043-07-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179SYS0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      35260 | PA      | $32885.49     | 0.01%             | 2047-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179T4N2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       9807 | PA      | $9109.20      | 0.00%             | 2048-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179TAK1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       5843 | PA      | $5464.99      | 0.00%             | 2047-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179TCX1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      12817 | PA      | $11942.95     | 0.00%             | 2047-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179TNR2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       7819 | PA      | $7316.35      | 0.00%             | 2047-12-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179TSH9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      70195 | PA      | $67540.23     | 0.02%             | 2048-02-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179TUA1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      13238 | PA      | $12335.18     | 0.00%             | 2048-03-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179UCC4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      56267 | PA      | $55905.93     | 0.02%             | 2048-09-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179VN30<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      58285 | PA      | $52498.32     | 0.02%             | 2050-06-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179W2U1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     218210 | PA      | $189022.19    | 0.07%             | 2052-04-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179W5B0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     122485 | PA      | $106063.53    | 0.04%             | 2052-05-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179W5D6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     445318 | PA      | $411227.87    | 0.15%             | 2052-05-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179W7L6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     252397 | PA      | $232686.25    | 0.08%             | 2052-06-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179WLN6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     255426 | PA      | $212529.07    | 0.08%             | 2051-08-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179WQA9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1512248 | PA      | $1309512.97   | 0.47%             | 2051-10-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179WR26<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     179972 | PA      | $155899.83    | 0.06%             | 2051-11-20      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179WR34<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     134526 | PA      | $120987.72    | 0.04%             | 2051-11-20      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179WVT2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |    1584819 | PA      | $1318658.13   | 0.47%             | 2052-01-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179XBS4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     134132 | PA      | $123946.86    | 0.04%             | 2052-07-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179XHW9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     381252 | PA      | $350140.41    | 0.12%             | 2052-10-20      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36179XND4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     129866 | PA      | $123825.78    | 0.04%             | 2052-12-20      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                                          | GLP Capital LP / GLP Financing II Inc                                            | CUSIP: 361841AL3<br>LEI: N/A                  | Long             | DBT              |  | US        |     163000 | PA      | $166092.11    | 0.06%             | 2029-01-15      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                                          | GLP Capital LP / GLP Financing II Inc                                            | CUSIP: 361841AP4<br>LEI: N/A                  | Long             | DBT              |  | US        |      73000 | PA      | $70713.55     | 0.03%             | 2030-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                                          | GLP Capital LP / GLP Financing II Inc                                            | CUSIP: 361841AQ2<br>LEI: N/A                  | Long             | DBT              |  | US        |      20000 | PA      | $19129.39     | 0.01%             | 2031-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                                          | GLP Capital LP / GLP Financing II Inc                                            | CUSIP: 361841AR0<br>LEI: N/A                  | Long             | DBT              |  | US        |     219000 | PA      | $196570.57    | 0.07%             | 2032-01-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GLP CAPITAL LP / FIN II                                                          | GLP Capital LP / GLP Financing II Inc                                            | CUSIP: 361841AV1<br>LEI: N/A                  | Long             | DBT              |  | US        |      75000 | PA      | $74954.63     | 0.03%             | 2033-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Ginnie Mae II Pool                                                               | CUSIP: 36202FPG5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      24323 | PA      | $24536.12     | 0.01%             | 2041-01-20      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Great Wolf Trust                                                                 | GWT 2024-WLF2                                                                    | CUSIP: 362414AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100187.50    | 0.04%             | 2041-05-15      | Floating      | 5.72%                 | No            |                  2 | On Loan: No      |
| GSMPS Mortgage Loan Trust                                                        | GSMPS Mortgage Loan Trust 2004-4                                                 | CUSIP: 36242DJQ7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     290602 | PA      | $262018.55    | 0.09%             | 2034-06-25      | Floating      | 4.51%                 | No            |                  2 | On Loan: No      |
| GSAMP Trust                                                                      | GSAMP Trust 2006-HE4                                                             | CUSIP: 362439AF8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      50000 | PA      | $43813.75     | 0.02%             | 2036-06-25      | Floating      | 4.56%                 | No            |                  2 | On Loan: No      |
| GT Loan Financing Ltd                                                            | GT Loan Financing I Ltd 2013-1                                                   | CUSIP: 36248MAS6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250297.40    | 0.09%             | 2039-04-28      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                     | GS Mortgage Securities Corp Trust 2023-FUN                                       | CUSIP: 36267CAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100312.50    | 0.04%             | 2028-03-15      | Floating      | 6.12%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                     | GS Mortgage Securities Corp Trust 2023-SHIP                                      | CUSIP: 36270GAJ0<br>LEI: 5493005BBCF84ICNQ550 | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $10030.46     | 0.00%             | 2038-09-10      | Variable      | 7.43%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                     | GS Mortgage Securities Corp Trust 2024-RVR                                       | CUSIP: 36272JAL7<br>LEI: 5493005BBCF84ICNQ550 | Long             | ABS-MBS          | CORP              | US        |      43000 | PA      | $42897.28     | 0.02%             | 2041-08-10      | Variable      | 7.47%                 | No            |                  2 | On Loan: No      |
| GS Mortgage Securities Trust                                                     | GS Mortgage Securities Corp Trust 2025-800D                                      | CUSIP: 36273XAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     162000 | PA      | $162406.68    | 0.06%             | 2041-11-25      | Floating      | 6.68%                 | No            |                  2 | On Loan: No      |
| Gaea Mortgage Loan Trust                                                         | Gaea Mortgage Loan Trust 2025-A                                                  | CUSIP: 362928AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     194654 | PA      | $189736.71    | 0.07%             | 2030-02-25      | Variable      | 6.75%                 | No            |                  2 | On Loan: No      |
| GARDA WORLD SECURITY                                                             | Garda World Security Corp                                                        | CUSIP: 36485MAN9<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |      50000 | PA      | $50877.15     | 0.02%             | 2032-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                                                      | Gartner Inc                                                                      | CUSIP: 366651AC1<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |     470000 | PA      | $466135.17    | 0.17%             | 2028-07-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                                                      | Gartner Inc                                                                      | CUSIP: 366651AE7<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |     131000 | PA      | $123935.58    | 0.04%             | 2030-10-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GARTNER INC                                                                      | Gartner Inc                                                                      | CUSIP: 366651AG2<br>LEI: PP55B5R38BFB8O8HH686 | Long             | DBT              | CORP              | US        |     365000 | PA      | $350408.65    | 0.12%             | 2029-06-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| GCAT                                                                             | GCAT 2025-NQM4 Trust                                                             | CUSIP: 367923AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      96673 | PA      | $97513.34     | 0.03%             | 2070-06-25      | Variable      | 5.53%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                           | General Motors Financial Co Inc                                                  | CUSIP: 37045XEF9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |       7000 | PA      | $7030.92      | 0.00%             | 2026-04-06      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                           | General Motors Financial Co Inc                                                  | CUSIP: 37045XEP7<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |      22000 | PA      | $23248.26     | 0.01%             | 2034-01-07      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                           | General Motors Financial Co Inc                                                  | CUSIP: 37045XEV4<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |      43000 | PA      | $44966.04     | 0.02%             | 2034-04-04      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| GENERAL MOTORS FINL CO                                                           | General Motors Financial Co Inc                                                  | CUSIP: 37045XFC5<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |      25000 | PA      | $26043.05     | 0.01%             | 2035-01-07      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Generate CLO Ltd.                                                                | Generate CLO 20 Ltd                                                              | CUSIP: 370912AC1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250169.15    | 0.09%             | 2038-01-25      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| GENESIS ENERGY LP/FIN                                                            | Genesis Energy LP / Genesis Energy Finance Corp                                  | CUSIP: 37185LAR3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     100000 | PA      | $103281.00    | 0.04%             | 2033-05-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                                                 | Georgia Power Co                                                                 | CUSIP: 373334KN0<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |      16000 | PA      | $12274.04     | 0.00%             | 2050-01-30      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                                                 | Georgia Power Co                                                                 | CUSIP: 373334KP5<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |     109000 | PA      | $76412.71     | 0.03%             | 2051-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                                                 | Georgia Power Co                                                                 | CUSIP: 373334KQ3<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |      24000 | PA      | $24330.39     | 0.01%             | 2032-05-15      | Fixed         | 4.70%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                                                 | Georgia Power Co                                                                 | CUSIP: 373334KT7<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |      28000 | PA      | $28582.47     | 0.01%             | 2033-05-17      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| GEORGIA POWER CO                                                                 | Georgia Power Co                                                                 | CUSIP: 373334LA7<br>LEI: D981X4Z4RWS7PDMJUZ03 | Long             | DBT              | CORP              | US        |      11000 | PA      | $11288.35     | 0.00%             | 2031-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                                             | Glencore Funding LLC                                                             | CUSIP: 378272AV0<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     146000 | PA      | $148331.63    | 0.05%             | 2029-03-12      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                                             | Glencore Funding LLC                                                             | CUSIP: 378272BE7<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |     121000 | PA      | $111096.65    | 0.04%             | 2031-04-27      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| GLENCORE FUNDING LLC                                                             | Glencore Funding LLC                                                             | CUSIP: 378272BG2<br>LEI: 213800STG1QDNBY87K49 | Long             | DBT              | CORP              | US        |      15000 | PA      | $13474.31     | 0.00%             | 2031-09-23      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| GLOBAL PART/GLP FINANCE                                                          | Global Partners LP / GLP Finance Corp                                            | CUSIP: 37954FAK0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      25000 | PA      | $26135.93     | 0.01%             | 2032-01-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| GoldenTree Loan Management US CLO, LTD                                           | Goldentree Loan Management US Clo 26 Ltd                                         | CUSIP: 38139QAG1<br>LEI: 254900C5OE1SRC894D90 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250497.23    | 0.09%             | 2038-07-20      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GB29<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     117000 | PA      | $119722.09    | 0.04%             | 2030-07-23      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GB37<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      88000 | PA      | $90626.12     | 0.03%             | 2035-07-23      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GB78<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      72000 | PA      | $72488.25     | 0.03%             | 2035-10-23      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GC36<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     123000 | PA      | $126924.34    | 0.05%             | 2031-01-28      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GC77<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     419000 | PA      | $423523.55    | 0.15%             | 2028-04-23      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GD27<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      58000 | PA      | $57828.37     | 0.02%             | 2029-10-21      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GWV2<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     121000 | PA      | $119832.65    | 0.04%             | 2029-04-23      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GWZ3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     262000 | PA      | $262110.78    | 0.09%             | 2029-05-01      | Fixed         | 4.22%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GXR0<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     372000 | PA      | $328950.26    | 0.12%             | 2032-01-27      | Fixed         | 1.99%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GYB4<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      45000 | PA      | $40838.61     | 0.01%             | 2032-04-22      | Fixed         | 2.62%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GYG3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      30000 | PA      | $29312.97     | 0.01%             | 2027-09-10      | Fixed         | 1.54%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GYJ7<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      15000 | PA      | $13366.88     | 0.00%             | 2032-07-21      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GYN8<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |      41000 | PA      | $36881.21     | 0.01%             | 2032-10-21      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GZK3<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     174000 | PA      | $170594.97    | 0.06%             | 2028-02-24      | Fixed         | 2.64%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GZM9<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     426000 | PA      | $390852.00    | 0.14%             | 2033-02-24      | Fixed         | 3.10%                 | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS GROUP INC                                                          | Goldman Sachs Group Inc/The                                                      | CUSIP: 38141GZU1<br>LEI: 784F5XWPLTWKTBV3E584 | Long             | DBT              | CORP              | US        |     327000 | PA      | $328684.71    | 0.12%             | 2028-08-23      | Fixed         | 4.48%                 | No            |                  2 | On Loan: No      |
| Goldman Home Improvement Trust Issuer Trust                                      | Goldman Home Improvement Trust 2022-GRN1 Issuer Trust                            | CUSIP: 38150YAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      15809 | PA      | $15795.85     | 0.01%             | 2052-06-25      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO Ltd                                                   | Golub Capital Partners Clo 44M Ltd                                               | CUSIP: 38180NAA9<br>LEI: 254900KERZS5XFEN4I27 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $251083.00    | 0.09%             | 2038-10-21      | Floating      | 5.90%                 | No            |                  2 | On Loan: No      |
| Golub Capital Partners CLO, LTD                                                  | Golub Capital Partners CLO 77 B Ltd                                              | CUSIP: 38180QAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250449.25    | 0.09%             | 2038-01-25      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Golub Capital Private Credit Fund CLO                                            | Golub Capital Private Credit Fund CLO 2                                          | CUSIP: 38181WAA8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     250000 | PA      | $250439.08    | 0.09%             | 2039-10-18      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| GoodLeap Home Improvement Solutions Trust                                        | GoodLeap Home Improvement Solutions Trust 2024-1                                 | CUSIP: 381935AA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      87881 | PA      | $88885.96     | 0.03%             | 2046-10-20      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| GoodLeap Home Improvement Solutions Trust                                        | GoodLeap Home Improvement Solutions Trust 2025-1                                 | CUSIP: 38237EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      85369 | PA      | $86455.38     | 0.03%             | 2049-02-20      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GoodLeap Home Improvement Solutions Trust                                        | GoodLeap Home Improvement Solutions Trust 2025-2                                 | CUSIP: 38238FAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     101197 | PA      | $102139.43    | 0.04%             | 2049-06-20      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| GoodLeap Home Improvement Solutions Trust                                        | GoodLeap Home Improvement Solutions Trust 2025-2                                 | CUSIP: 38238FAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     172000 | PA      | $173124.74    | 0.06%             | 2049-06-20      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                                                           | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BN0<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |      12000 | PA      | $11421.81     | 0.00%             | 2029-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Government National Mortgage Association                                         | CUSIP: 38381JDG9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       4769 | PA      | $4307.59      | 0.00%             | 2063-09-16      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Government National Mortgage Association                                         | CUSIP: 38381MRL6<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     144015 | PA      | $144311.85    | 0.05%             | 2058-06-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Government National Mortgage Association                                         | CUSIP: 38381MXF2<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      56827 | PA      | $56516.51     | 0.02%             | 2056-08-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Government National Mortgage Association                                         | CUSIP: 38381MYE4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      19935 | PA      | $19835.51     | 0.01%             | 2054-09-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Government National Mortgage Association                                         | CUSIP: 38381MZA1<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      60824 | PA      | $61107.07     | 0.02%             | 2056-10-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Government National Mortgage Association                                         | CUSIP: 38381MZB9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      59872 | PA      | $58856.12     | 0.02%             | 2066-07-16      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Government National Mortgage Association                                         | CUSIP: 38381PXY4<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     133712 | PA      | $133610.66    | 0.05%             | 2065-05-16      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association                                         | Government National Mortgage Association                                         | CUSIP: 38384CEP0<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |       9589 | PA      | $7693.65      | 0.00%             | 2065-04-16      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                                                   | Gray Media Inc                                                                   | CUSIP: 389375AM8<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |      25000 | PA      | $26940.73     | 0.01%             | 2029-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: —       |
| Greensky Home Improvement Issuer Trust                                           | GreenSky Home Improvement Trust 2024-1                                           | CUSIP: 39571MAD0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      57288 | PA      | $58648.82     | 0.02%             | 2059-06-25      | Fixed         | 5.67%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                                           | GreenSky Home Improvement Trust 2024-1                                           | CUSIP: 39571MAF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     153294 | PA      | $156100.35    | 0.06%             | 2059-06-25      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                                           | GreenSky Home Improvement Issuer Trust 2024-2                                    | CUSIP: 39571XAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      75423 | PA      | $75655.43     | 0.03%             | 2059-10-27      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Greensky Home Improvement Issuer Trust                                           | GreenSky Home Improvement Issuer Trust 2024-2                                    | CUSIP: 39571XAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     183000 | PA      | $184468.47    | 0.07%             | 2059-10-27      | Fixed         | 5.26%                 | No            |                  2 | On Loan: No      |
| HONO Mortgage Trust                                                              | HONO 2021-LULU Mortgage Trust                                                    | CUSIP: 40390MAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     127132 | PA      | $125860.68    | 0.04%             | 2036-10-15      | Floating      | 5.30%                 | No            |                  2 | On Loan: No      |
| Hilton USA Trust                                                                 | HILT COMMERCIAL MORTGAGE TRUST 2024-ORL                                          | CUSIP: 403956AA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100062.50    | 0.04%             | 2037-05-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                                                      | HOMES 2025-NQM2 Trust                                                            | CUSIP: 403966AA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      91394 | PA      | $91795.15     | 0.03%             | 2070-02-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                                                      | HOMES 2025-AFC1 Trust                                                            | CUSIP: 403969AF5<br>LEI: 2549006ZK3R8WZLA9S73 | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $201878.92    | 0.07%             | 2060-01-25      | Variable      | 6.39%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119BV0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |       6000 | PA      | $5762.52      | 0.00%             | 2047-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119BW8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      32000 | PA      | $33328.52     | 0.01%             | 2029-02-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119BY4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      23000 | PA      | $22366.83     | 0.01%             | 2039-06-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119CB3<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      94000 | PA      | $65107.42     | 0.02%             | 2051-07-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119CL1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      18000 | PA      | $14938.27     | 0.01%             | 2052-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119CR8<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      10000 | PA      | $9955.23      | 0.00%             | 2053-06-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119CT4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     155000 | PA      | $161323.12    | 0.06%             | 2031-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119CU1<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      92000 | PA      | $95768.25     | 0.03%             | 2034-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119CW7<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      83000 | PA      | $83901.56     | 0.03%             | 2064-04-01      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119DA4<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |      49000 | PA      | $51137.77     | 0.02%             | 2032-03-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119DB2<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     378000 | PA      | $396581.35    | 0.14%             | 2035-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119DC0<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     121000 | PA      | $125644.47    | 0.04%             | 2055-03-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| HCA INC                                                                          | HCA Inc                                                                          | CUSIP: 404119DE6<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |     315000 | PA      | $313043.85    | 0.11%             | 2032-11-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| HLTN Commercial Mortgage Trust 2024-DPLO                                         | HLTN Commercial Mortgage Trust 2024-DPLO                                         | CUSIP: 40424UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     263000 | PA      | $263410.94    | 0.09%             | 2041-06-15      | Floating      | 5.67%                 | No            |                  2 | On Loan: No      |
| HTL Commercial Mortgage Trust                                                    | HTL Commercial Mortgage Trust 2024-T53                                           | CUSIP: 404300AG0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $102351.26    | 0.04%             | 2039-05-10      | Variable      | 8.20%                 | No            |                  2 | On Loan: No      |
| HIH Trust                                                                        | HIH Trust 2024-61P                                                               | CUSIP: 40444VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       9853 | PA      | $9883.33      | 0.00%             | 2041-10-15      | Floating      | 5.87%                 | No            |                  2 | On Loan: No      |
| HIH Trust                                                                        | HIH Trust 2024-61P                                                               | CUSIP: 40444VAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      98525 | PA      | $98894.85     | 0.04%             | 2041-10-15      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| HIH Trust                                                                        | HIH Trust 2024-61P                                                               | CUSIP: 40444VAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       9853 | PA      | $9901.80      | 0.00%             | 2041-10-15      | Floating      | 7.67%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC                                                                  | Hanesbrands Inc                                                                  | CUSIP: 410345AQ5<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |      23000 | PA      | $24249.96     | 0.01%             | 2031-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| L3HARRIS TECH INC                                                                | L3Harris Technologies Inc                                                        | CUSIP: 413875AS4<br>LEI: 549300UTE50ZMDBG8A20 | Long             | DBT              | CORP              | US        |      20000 | PA      | $19976.62     | 0.01%             | 2035-04-27      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| harvest commercial capital loan trust                                            | Harvest Commercial Capital Loan Trust 2024-1                                     | CUSIP: 417927AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     437473 | PA      | $448862.45    | 0.16%             | 2056-10-25      | Fixed         | 6.16%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                                                                | Herc Holdings Inc                                                                | CUSIP: 42704LAE4<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |      50000 | PA      | $51633.30     | 0.02%             | 2029-06-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| HESS MIDSTREAM OPERATION                                                         | Hess Midstream Operations LP                                                     | CUSIP: 428102AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      50000 | PA      | $48699.14     | 0.02%             | 2030-02-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                                                         | Hilcorp Energy I LP / Hilcorp Finance Co                                         | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      16000 | PA      | $15149.13     | 0.01%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |      25000 | PA      | $23758.40     | 0.01%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HILTON DOMESTIC OPERATIN                                                         | Hilton Domestic Operating Co Inc                                                 | CUSIP: 432833AN1<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |      25000 | PA      | $23031.71     | 0.01%             | 2032-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| HILTON GRAND VAC LLC/INC                                                         | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc        | CUSIP: 43284MAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      18000 | PA      | $16641.78     | 0.01%             | 2031-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| HOMES Trust                                                                      | HOMES 2025-NQM1 Trust                                                            | CUSIP: 43761DAF7<br>LEI: 254900LUV7YA0N50XT86 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $101202.66    | 0.04%             | 2070-01-25      | Variable      | 6.52%                 | No            |                  2 | On Loan: No      |
| Homeward Opportunities Fund I Trust                                              | Homeward Opportunities Fund I Trust 2020-2                                       | CUSIP: 43789XAE4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     310000 | PA      | $310066.50    | 0.11%             | 2065-05-25      | Variable      | 5.45%                 | No            |                  2 | On Loan: No      |
| HOWARD HUGHES CORP                                                               | Howard Hughes Corp/The                                                           | CUSIP: 44267DAD9<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |      25000 | PA      | $24958.83     | 0.01%             | 2028-08-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| The Huntington National Bank                                                     | Huntington Bank Auto Credit-Linked Notes Series 2025-2                           | CUSIP: 44644NAP4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     223827 | PA      | $223907.42    | 0.08%             | 2033-09-20      | Floating      | 5.38%                 | No            |                  2 | On Loan: No      |
| INT Commercial Mortgage Trust 2025-PLAZA                                         | INT Commercial Mortgage Trust 2025-PLAZA                                         | CUSIP: 44989YAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99936.97     | 0.04%             | 2037-11-05      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| INV 2024-IND Mortgage Trust                                                      | INV 2024-IND Mortgage Trust                                                      | CUSIP: 45000DAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     168000 | PA      | $166740.00    | 0.06%             | 2041-11-15      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| IHEARTCOMMUNICATIONS INC                                                         | iHeartCommunications Inc                                                         | CUSIP: 45174HBJ5<br>LEI: 54930076J6KDZL504O62 | Long             | DBT              | CORP              | US        |     100000 | PA      | $92010.00     | 0.03%             | 2029-05-01      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| ILPT Commercial Mortgage Trust                                                   | ILPT Commercial Mortgage Trust 2025-LPF2                                         | CUSIP: 451955AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     224000 | PA      | $228422.01    | 0.08%             | 2042-07-13      | Variable      | 5.29%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                                | ILLINOIS ST                                                                      | CUSIP: 452151LF8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |     235588 | PA      | $240665.32    | 0.09%             | 2033-06-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Impac Secured Assets Corp.                                                       | Impac Secured Assets Trust 2006-3                                                | CUSIP: 45255RAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      25174 | PA      | $23245.84     | 0.01%             | 2036-11-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| CRESCENT ENERGY FINANCE                                                          | Crescent Energy Finance LLC                                                      | CUSIP: 45344LAE3<br>LEI: 54930061FUL6DBLFUW14 | Long             | DBT              | CORP              | US        |      50000 | PA      | $47224.18     | 0.02%             | 2033-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Indonesia Government International Bonds                                         | Indonesia Government International Bonds                                         | CUSIP: 455780CQ7<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |     400000 | PA      | $378625.00    | 0.13%             | 2030-02-14      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| Indonesia Government International Bonds                                         | Indonesia Government International Bonds                                         | CUSIP: 455780CW4<br>LEI: 529900FWX0GRR7WG5W79 | Long             | DBT              | NUSS              | ID        |     200000 | PA      | $136800.00    | 0.05%             | 2051-03-12      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| IndyMac INDX Mortgage Loan Trust                                                 | IndyMac INDX Mortgage Loan Trust 2005-AR31                                       | CUSIP: 45660LW39<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     130952 | PA      | $129954.02    | 0.05%             | 2036-01-25      | Variable      | 4.82%                 | No            |                  2 | On Loan: No      |
| IQVIA INC                                                                        | IQVIA Inc                                                                        | CUSIP: 46266TAG3<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |     100000 | PA      | $104226.60    | 0.04%             | 2032-06-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                                                                | Iron Mountain Inc                                                                | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |      17000 | PA      | $16305.50     | 0.01%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| iShares iBoxx $ High Yield Corporate Bond ETF                                    | iShares iBoxx $ High Yield Corporate Bond ETF                                    | CUSIP: 464288513<br>LEI: 549300FCCXHK7O37PQ68 | Long             | EC               | RF                | US        |      10420 | NS      | $841936.00    | 0.30%             |  |  |  | No            |                  1 | On Loan: —       |
| JP Morgan Chase Commercial Mortgage Sec Trust                                    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2024-OMNI                 | CUSIP: 46593JAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     130000 | PA      | $132276.22    | 0.05%             | 2039-10-05      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                    | JP Morgan Chase Commercial Mortgage Securities Trust 2024-IGLG                   | CUSIP: 46593KAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      50000 | PA      | $50477.27     | 0.02%             | 2039-11-09      | Variable      | 5.17%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                    | JP Morgan Chase Commercial Mortgage Securities Trust 2024-IGLG                   | CUSIP: 46593KAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $10005.92     | 0.00%             | 2039-11-09      | Variable      | 6.48%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                    | JP Morgan Chase Commercial Mortgage Securities Trust 2024-IGLG                   | CUSIP: 46593KAJ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      39000 | PA      | $38982.76     | 0.01%             | 2039-11-09      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                    | JP Morgan Chase Commercial Mortgage Securities Trust 2024-IGLG                   | CUSIP: 46593KAL5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      34000 | PA      | $33937.50     | 0.01%             | 2039-11-09      | Variable      | 8.22%                 | No            |                  2 | On Loan: No      |
| J.P. Morgan Alternative Loan Trust                                               | JP Morgan Alternative Loan Trust 2006-A1                                         | CUSIP: 46627MCU9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     208248 | PA      | $155506.66    | 0.06%             | 2036-03-25      | Variable      | 5.03%                 | No            |                  2 | On Loan: No      |
| KASPI.KZ JSC                                                                     | JSC Kaspi.kz                                                                     | CUSIP: 466281AA0<br>LEI: 2549003YU6FARG8OAZ13 | Long             | DBT              | CORP              | KZ        |     200000 | PA      | $205392.00    | 0.07%             | 2030-03-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Acquisition Corp                                              | JP Morgan Mortgage Acquisition Trust 2007-CH1                                    | CUSIP: 46630LAH7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     200000 | PA      | $207315.94    | 0.07%             | 2036-11-25      | Variable      | 4.43%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                    | JP Morgan Chase Commercial Mortgage Securities Trust 2021-MHC                    | CUSIP: 466330AN7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      90000 | PA      | $90028.13     | 0.03%             | 2038-04-15      | Floating      | 6.85%                 | No            |                  2 | On Loan: No      |
| JP Morgan ReRemic                                                                | JP Morgan Resecuritization Trust Series 2014-5                                   | CUSIP: 46642VAR9<br>LEI: 549300I70LJMOFGPXY37 | Long             | ABS-MBS          | CORP              | US        |     297376 | PA      | $50304.70     | 0.02%             | 2036-05-27      | Variable      | 0.00%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2016-NINE                 | CUSIP: 46646GAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     130000 | PA      | $127907.33    | 0.05%             | 2038-09-06      | Variable      | 2.85%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PBU9<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      93000 | PA      | $82287.76     | 0.03%             | 2031-11-19      | Fixed         | 1.76%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PCJ3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     463000 | PA      | $440155.65    | 0.16%             | 2029-06-01      | Fixed         | 2.07%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PCU8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      22000 | PA      | $20158.01     | 0.01%             | 2033-01-25      | Fixed         | 2.96%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PDR4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      60000 | PA      | $62632.71     | 0.02%             | 2034-06-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PEJ1<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     566000 | PA      | $580690.35    | 0.21%             | 2030-07-22      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PEK8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     353000 | PA      | $365025.53    | 0.13%             | 2035-07-22      | Fixed         | 5.29%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PEP7<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     625000 | PA      | $629833.58    | 0.22%             | 2028-10-22      | Fixed         | 4.51%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PER3<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      24000 | PA      | $24268.60     | 0.01%             | 2035-10-22      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PEU6<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      83000 | PA      | $84474.17     | 0.03%             | 2029-01-24      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PEV4<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     718000 | PA      | $741862.98    | 0.26%             | 2031-01-24      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PEW2<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |     388000 | PA      | $407165.01    | 0.14%             | 2036-01-24      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| JPMORGAN CHASE & CO                                                              | JPMorgan Chase & Co                                                              | CUSIP: 46647PEY8<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | DBT              | CORP              | US        |      25000 | PA      | $25821.81     | 0.01%             | 2031-04-22      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| JP Morgan Chase Commercial Mortgage Sec Trust                                    | J.P. Morgan Chase Commercial Mortgage Securities Trust 2025-BHR5                 | CUSIP: 46649WAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      68366 | PA      | $68387.01     | 0.02%             | 2040-03-15      | Floating      | 5.73%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust 2024-MRCO                                           | JW Commercial Mortgage Trust 2024-MRCO                                           | CUSIP: 46657XAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     113000 | PA      | $113141.25    | 0.04%             | 2039-06-15      | Floating      | 5.65%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust 2024-MRCO                                           | JW Commercial Mortgage Trust 2024-MRCO                                           | CUSIP: 46657XAG1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     110000 | PA      | $110726.78    | 0.04%             | 2039-06-15      | Floating      | 7.22%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                         | JP Morgan Mortgage Trust 2025-VIS1                                               | CUSIP: 46659BAF9<br>LEI: 529900CBDGTUOOQONB64 | Long             | ABS-MBS          | CORP              | US        |     253000 | PA      | $255741.20    | 0.09%             | 2055-08-25      | Variable      | 6.41%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                                                         | JP Morgan Mortgage Trust 2025-VIS2                                               | CUSIP: 46659RAG2<br>LEI: 529900371ZWA9WXVGB88 | Long             | ABS-MBS          | CORP              | US        |      83340 | PA      | $84216.10     | 0.03%             | 2055-12-25      | Variable      | 7.25%                 | No            |                  2 | On Loan: No      |
| JW Commercial Mortgage Trust 2024-MRCO                                           | JW Trust 2024-BERY                                                               | CUSIP: 46676AAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $200187.50    | 0.07%             | 2039-11-15      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                                                          | Jane Street Group / JSG Finance Inc                                              | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      50000 | PA      | $52468.40     | 0.02%             | 2031-04-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| KAZMUNAYGAS NATIONAL CO                                                          | KazMunayGas National Co JSC                                                      | CUSIP: 48667QAS4<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |     200000 | PA      | $201270.00    | 0.07%             | 2048-10-24      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| KEY BANK NA                                                                      | KeyBank NA/Cleveland OH                                                          | CUSIP: 49327M3H5<br>LEI: HUX2X73FUCYHUVH1BK78 | Long             | DBT              | CORP              | US        |     250000 | PA      | $251734.16    | 0.09%             | 2033-01-26      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| KSL Commercial Mortgage Trust                                                    | KSL Commercial Mortgage Trust 2024-HT2                                           | CUSIP: 500937AA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     315545 | PA      | $315347.66    | 0.11%             | 2039-12-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| KSL COMMERCIAL MORTGAGE                                                          | KSL COMMERCIAL MORTGAGE                                                          | CUSIP: 50116JAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      14000 | PA      | $13984.01     | 0.00%             | 2042-06-15      | Variable      | 6.25%                 | No            |                  2 | On Loan: No      |
| KSL COMMERCIAL MORTGAGE                                                          | KSL COMMERCIAL MORTGAGE                                                          | CUSIP: 50116JAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     160000 | PA      | $160564.69    | 0.06%             | 2042-06-05      | Fixed         | 8.45%                 | No            |                  2 | On Loan: No      |
| LBA Trust                                                                        | LBA Trust 2024-BOLT                                                              | CUSIP: 50177BAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     170000 | PA      | $170105.67    | 0.06%             | 2039-06-15      | Floating      | 5.62%                 | No            |                  2 | On Loan: No      |
| LBA Trust                                                                        | LBA Trust 2024-BOLT                                                              | CUSIP: 50177BAQ0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $9985.21      | 0.00%             | 2039-06-15      | Floating      | 8.47%                 | No            |                  2 | On Loan: No      |
| BATH & BODY WORKS INC                                                            | Bath & Body Works Inc                                                            | CUSIP: 501797AW4<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |      17000 | PA      | $17473.23     | 0.01%             | 2030-10-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| LV Trust                                                                         | Fashion Show Mall LLC                                                            | CUSIP: 50245XAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      19374 | PA      | $19648.28     | 0.01%             | 2041-10-10      | Variable      | 5.10%                 | No            |                  2 | On Loan: No      |
| VITAL ENERGY INC                                                                 | Vital Energy Inc                                                                 | CUSIP: 516806AJ5<br>LEI: 549300X0PTWU2QSLSL14 | Long             | DBT              | CORP              | US        |      25000 | PA      | $25704.10     | 0.01%             | 2030-10-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: —       |
| LBA Trust                                                                        | LBA Trust 2024-7IND                                                              | CUSIP: 52109XAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      18190 | PA      | $18201.13     | 0.01%             | 2041-10-15      | Floating      | 5.48%                 | No            |                  2 | On Loan: No      |
| LBA Trust                                                                        | LBA Trust 2024-7IND                                                              | CUSIP: 52109XAL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      20918 | PA      | $20963.98     | 0.01%             | 2041-10-15      | Floating      | 6.67%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                                           | Lendmark Funding Trust 2021-2                                                    | CUSIP: 52604DAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     130000 | PA      | $125087.85    | 0.04%             | 2032-04-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Lendmark Funding Trust                                                           | Lendmark Funding Trust 2025-1                                                    | CUSIP: 52604QAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $101370.55    | 0.04%             | 2034-09-20      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                            | Level 3 Financing Inc                                                            | CUSIP: 527298CM3<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      50000 | PA      | $51214.35     | 0.02%             | 2033-06-30      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                                                            | Level 3 Financing Inc                                                            | CUSIP: 527298CN1<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |      24000 | PA      | $24657.67     | 0.01%             | 2034-03-31      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Lex Commercial Loan Master Trust                                                 | LEX 2024-BBG Mortgage Trust                                                      | CUSIP: 52885AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     289000 | PA      | $290243.19    | 0.10%             | 2033-10-13      | Variable      | 4.87%                 | No            |                  2 | On Loan: No      |
| LIFEPOINT HEALTH INC                                                             | LifePoint Health Inc                                                             | CUSIP: 53219LAW9<br>LEI: 549300G8ZVHRTBBBSZ90 | Long             | DBT              | CORP              | US        |      50000 | PA      | $55130.13     | 0.02%             | 2030-10-15      | Fixed         | 11.00%                | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                                                                | Lithia Motors Inc                                                                | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     100000 | PA      | $95332.09     | 0.03%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                                                         | Live Nation Entertainment Inc                                                    | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |      12000 | PA      | $11961.46     | 0.00%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                                                         | Live Nation Entertainment Inc                                                    | CUSIP: 538034AX7<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |      25000 | PA      | $24393.56     | 0.01%             | 2028-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LoanCore Issuer, Ltd.                                                            | LoanCore 2025-CRE9 Issuer LLC                                                    | CUSIP: 538912AA4<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     140000 | PA      | $139999.94    | 0.05%             | 2042-08-18      | Floating      | 5.51%                 | No            |                  2 | On Loan: No      |
| LoanCore Issuer, Ltd.                                                            | LoanCore 2025 2025-CRE8 Issuer LLC                                               | CUSIP: 53947FAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     116000 | PA      | $115864.11    | 0.04%             | 2042-08-17      | Floating      | 5.42%                 | No            |                  2 | On Loan: No      |
| Long Beach Mortgage Loan Trust                                                   | Long Beach Mortgage Loan Trust 2006-2                                            | CUSIP: 542514TQ7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     330112 | PA      | $289886.89    | 0.10%             | 2046-03-25      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Louisiana Local Government Environmental Facilities & Community Development Auth | LOUISIANA ST LOCAL GOVT ENVRNMNTL FACS & CMNTY DEV AUTH                          | CUSIP: 54627RAM2<br>LEI: 5493004WIZ1HV87IVF85 | Long             | DBT              | MUN               | US        |     240000 | PA      | $239581.13    | 0.09%             | 2033-02-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                                               | MCR 2024-HTL Mortgage Trust                                                      | CUSIP: 55286PAE3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      80569 | PA      | $80594.24     | 0.03%             | 2037-02-15      | Floating      | 7.14%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                                                                 | MGM Resorts International                                                        | CUSIP: 552953CH2<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |      16000 | PA      | $15892.48     | 0.01%             | 2028-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| MSCI INC                                                                         | MSCI Inc                                                                         | CUSIP: 55354GAR1<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |     315000 | PA      | $316139.40    | 0.11%             | 2035-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Madison Park Funding Ltd                                                         | Madison Park Funding LXXI Ltd                                                    | CUSIP: 55817DAA6<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $249857.50    | 0.09%             | 2038-04-23      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                         | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBL6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |    1265000 | PA      | $1252274.10   | 0.45%             | 2027-03-15      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| WARNERMEDIA HOLDINGS INC                                                         | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBU6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |       3000 | PA      | $2280.00      | 0.00%             | 2052-03-15      | Fixed         | 5.14%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                                   | Mariner Finance Issuance Trust 2025-A                                            | CUSIP: 567920AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     195000 | PA      | $196618.34    | 0.07%             | 2038-05-20      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                                   | Mariner Finance Issuance Trust 2025-A                                            | CUSIP: 567920AC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $101056.66    | 0.04%             | 2038-05-20      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                                   | Mariner Finance issuance Trust 2024-B                                            | CUSIP: 56847GAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $101441.21    | 0.04%             | 2038-11-20      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| Mariner Finance Issuance Trust                                                   | Mariner Finance Issuance Trust 2025-B                                            | CUSIP: 56847TAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     102000 | PA      | $102110.21    | 0.04%             | 2038-11-22      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| MASTR Reperforming Loan Trust                                                    | MASTR Reperforming Loan Trust 2005-1                                             | CUSIP: 576436AT6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     228362 | PA      | $158071.15    | 0.06%             | 2034-08-25      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MATADOR RESOURCES CO                                                             | Matador Resources Co                                                             | CUSIP: 576485AG1<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | DBT              | CORP              | US        |      50000 | PA      | $50460.75     | 0.02%             | 2032-04-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                                                           | Match Group Holdings II LLC                                                      | CUSIP: 57665RAN6<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |      26000 | PA      | $25625.39     | 0.01%             | 2028-06-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                                           | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAC1<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |      37000 | PA      | $36534.18     | 0.01%             | 2027-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                                                           | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |      25000 | PA      | $25065.68     | 0.01%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| MCAFEE CORP                                                                      | McAfee Corp                                                                      | CUSIP: 579063AB4<br>LEI: 2549009UKR8UEZYVCR93 | Long             | DBT              | CORP              | US        |     100000 | PA      | $91544.05     | 0.03%             | 2030-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| MFRA Trust                                                                       | MFA 2025-NQM3 Trust                                                              | CUSIP: 58004LAA5<br>LEI: 2549007EHG79GWD49I44 | Long             | ABS-MBS          | CORP              | US        |     163864 | PA      | $164315.31    | 0.06%             | 2070-08-25      | Variable      | 5.26%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                                       | MFA 2024-NPL1 Trust                                                              | CUSIP: 58004YAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      86591 | PA      | $86690.73     | 0.03%             | 2054-09-25      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                                               | MCR 2024-TWA Mortgage Trust                                                      | CUSIP: 582923AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      25000 | PA      | $25333.19     | 0.01%             | 2039-06-12      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                                               | MCR 2024-TWA Mortgage Trust                                                      | CUSIP: 582923AD0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      30000 | PA      | $30385.37     | 0.01%             | 2039-06-12      | Fixed         | 7.40%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                                               | MCR 2024-TWA Mortgage Trust                                                      | CUSIP: 582923AE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      16000 | PA      | $16246.16     | 0.01%             | 2039-06-12      | Fixed         | 8.73%                 | No            |                  2 | On Loan: No      |
| MCR Mortgage Trust                                                               | MCR 2024-TWA Mortgage Trust                                                      | CUSIP: 582923AV0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      71000 | PA      | $681.26       | 0.00%             | 2039-06-12      | Fixed         | 0.92%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                                                       | MFA 2024-RTL1 Trust                                                              | CUSIP: 59319NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     120000 | PA      | $120656.50    | 0.04%             | 2029-02-25      | Variable      | 7.09%                 | No            |                  2 | On Loan: No      |
| MIDAMERICAN ENERGY CO                                                            | MidAmerican Energy Co                                                            | CUSIP: 595620AS4<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |       8000 | PA      | $6103.47      | 0.00%             | 2048-08-01      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| MIDAMERICAN ENERGY CO                                                            | MidAmerican Energy Co                                                            | CUSIP: 595620AV7<br>LEI: NINLOILYRTLIMK26MZ18 | Long             | DBT              | CORP              | US        |      36000 | PA      | $24951.76     | 0.01%             | 2050-04-15      | Fixed         | 3.15%                 | No            |                  2 | On Loan: No      |
| MidOcean Credit CLO                                                              | MidOcean Credit CLO XII Ltd                                                      | CUSIP: 59803TBA8<br>LEI: 5493000CPZWPTWX7TF71 | Long             | ABS-CBDO         | CORP              | JE        |     250000 | PA      | $250604.93    | 0.09%             | 2038-07-18      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Milford Park CLO, Ltd.                                                           | Milford Park CLO Ltd                                                             | CUSIP: 59966PAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     250000 | PA      | $249907.43    | 0.09%             | 2038-01-20      | Floating      | 5.04%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                                            | Mineral Resources Ltd                                                            | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |     116000 | PA      | $118473.58    | 0.04%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                                            | Mineral Resources Ltd                                                            | CUSIP: 603051AD5<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |     100000 | PA      | $104252.80    | 0.04%             | 2030-05-01      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                                                            | Mineral Resources Ltd                                                            | CUSIP: 603051AE3<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |      23000 | PA      | $24115.64     | 0.01%             | 2028-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG                                                          | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC          | CUSIP: 60832QAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     100000 | PA      | $104343.00    | 0.04%             | 2031-04-15      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| MOLINA HEALTHCARE INC                                                            | Molina Healthcare Inc                                                            | CUSIP: 60855RAJ9<br>LEI: 549300NQQCEQ46YHZ591 | Long             | DBT              | CORP              | US        |      16000 | PA      | $15584.23     | 0.01%             | 2028-06-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                                   | Morgan Stanley Capital I Trust 2024-NSTB                                         | CUSIP: 61690BAA0<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |      85733 | PA      | $84296.40     | 0.03%             | 2057-09-24      | Variable      | 3.90%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley ReRemic Trust                                                     | Morgan Stanley Resecuritization Trust 2015-R3                                    | CUSIP: 61690TAV5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $77609.31     | 0.03%             | 2047-04-26      | Floating      | 3.91%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                                   | Morgan Stanley Capital I Trust 2017-ASHF                                         | CUSIP: 61691KAG6<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $98187.50     | 0.03%             | 2034-11-15      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                                   | Morgan Stanley Capital I 2017-HR2                                                | CUSIP: 61691NAJ4<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |     281000 | PA      | $272514.02    | 0.10%             | 2050-12-15      | Variable      | 4.06%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 6174468L6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      24000 | PA      | $22466.03     | 0.01%             | 2031-01-22      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 6174468U6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     263000 | PA      | $230015.11    | 0.08%             | 2032-02-13      | Fixed         | 1.79%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 617446HD4<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      11000 | PA      | $12724.97     | 0.00%             | 2032-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61744YAP3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     239000 | PA      | $236962.51    | 0.08%             | 2029-01-24      | Fixed         | 3.77%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61747YEK7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     225000 | PA      | $220528.91    | 0.08%             | 2028-01-21      | Fixed         | 2.48%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61747YEL5<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     106000 | PA      | $96482.66     | 0.03%             | 2033-01-21      | Fixed         | 2.94%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61747YFE0<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     786000 | PA      | $811212.07    | 0.29%             | 2034-04-21      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61747YFQ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     261000 | PA      | $272265.21    | 0.10%             | 2030-04-18      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61747YFT7<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     156000 | PA      | $160434.25    | 0.06%             | 2035-07-19      | Fixed         | 5.32%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61747YFY6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     565000 | PA      | $575506.60    | 0.20%             | 2029-04-12      | Fixed         | 4.99%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61747YFZ3<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     116000 | PA      | $119577.46    | 0.04%             | 2031-04-17      | Fixed         | 5.19%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61748UAE2<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     677000 | PA      | $698925.77    | 0.25%             | 2031-01-15      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61748UAK8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     260000 | PA      | $259392.51    | 0.09%             | 2029-10-18      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                               | Morgan Stanley Mortgage Loan Trust 2006-12XS                                     | CUSIP: 61749EAE7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10741 | PA      | $2305.64      | 0.00%             | 2036-10-25      | Variable      | 6.51%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Inc                                                       | Morgan Stanley ABS Capital I Inc Trust 2006-HE8                                  | CUSIP: 61750SAB8<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | ABS-MBS          | CORP              | US        |     185904 | PA      | $81614.84     | 0.03%             | 2036-10-25      | Floating      | 4.18%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital Inc                                                       | Morgan Stanley ABS Capital I Inc Trust 2007-HE1                                  | CUSIP: 617526AF5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     688751 | PA      | $406112.88    | 0.14%             | 2036-11-25      | Floating      | 4.34%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Mortgage Loan Trust                                               | Morgan Stanley Mortgage Loan Trust 2007-3XS                                      | CUSIP: 61752RAJ1<br>LEI: 549300SRGEL7X4RBPX12 | Long             | ABS-MBS          | CORP              | US        |      78363 | PA      | $27589.30     | 0.01%             | 2047-01-25      | Variable      | 6.36%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 61772BAB9<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |      56000 | PA      | $55241.89     | 0.02%             | 2027-05-04      | Fixed         | 1.59%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Capital I Trust                                                   | Morgan Stanley Capital I Trust 2021-230P                                         | CUSIP: 61772WAG2<br>LEI: 3IFG42XD94UUZ7FL2766 | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $9300.00      | 0.00%             | 2038-12-15      | Floating      | 5.60%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                                   | Morgan Stanley Residential Mortgage Loan Trust 2025-DSC2                         | CUSIP: 61778XAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     502548 | PA      | $505626.81    | 0.18%             | 2070-07-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                                   | Morgan Stanley Residential Mortgage Loan Trust 2025-DSC2                         | CUSIP: 61778XAG4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $198682.60    | 0.07%             | 2070-07-25      | Variable      | 6.98%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM1                         | CUSIP: 617932AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      87687 | PA      | $88441.81     | 0.03%             | 2069-11-25      | Variable      | 5.74%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley Residential Mortgage Loan Trust                                   | Morgan Stanley Residential Mortgage Loan Trust 2025-NQM1                         | CUSIP: 617932AF5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $101051.01    | 0.04%             | 2069-11-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                                                           | Motorola Solutions Inc                                                           | CUSIP: 620076BE8<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |      12000 | PA      | $11911.97     | 0.00%             | 2044-09-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                                                           | Motorola Solutions Inc                                                           | CUSIP: 620076BW8<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |      73000 | PA      | $76794.46     | 0.03%             | 2032-06-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                                                           | Motorola Solutions Inc                                                           | CUSIP: 620076BZ1<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |      16000 | PA      | $16568.67     | 0.01%             | 2034-04-15      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| MOTOROLA SOLUTIONS INC                                                           | Motorola Solutions Inc                                                           | CUSIP: 620076CC1<br>LEI: 6S552MUG6KGJVEBSEC55 | Long             | DBT              | CORP              | US        |     101000 | PA      | $105167.04    | 0.04%             | 2035-08-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| MTN Commercial Mortgage Trust 2022-LPFL                                          | MTN Commercial Mortgage Trust 2022-LPFL                                          | CUSIP: 62475WAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100062.50    | 0.04%             | 2039-03-15      | Floating      | 5.44%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                                              | Medline Borrower LP                                                              | CUSIP: 62482BAA0<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |      27000 | PA      | $26225.27     | 0.01%             | 2029-04-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MEDLINE BORROWER LP                                                              | Medline Borrower LP                                                              | CUSIP: 62482BAB8<br>LEI: 254900QT3R363TVK6F09 | Long             | DBT              | CORP              | US        |      50000 | PA      | $49809.73     | 0.02%             | 2029-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                          | MUNI ELEC AUTH OF GEORGIA                                                        | CUSIP: 626207YF5<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |      50000 | PA      | $54928.07     | 0.02%             | 2057-04-01      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| NCR VOYIX CORP                                                                   | NCR Voyix Corp                                                                   | CUSIP: 62886EAY4<br>LEI: 549300YKTY8JX1DV2R67 | Long             | DBT              | CORP              | US        |      17000 | PA      | $16835.08     | 0.01%             | 2028-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NCMF Trust                                                                       | NCMF Trust 2025-MFS                                                              | CUSIP: 62887TAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      70000 | PA      | $70162.52     | 0.02%             | 2033-06-10      | Variable      | 4.88%                 | No            |                  2 | On Loan: No      |
| NCMF Trust                                                                       | NCMF Trust 2025-MFS                                                              | CUSIP: 62887TAJ3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     136000 | PA      | $137935.06    | 0.05%             | 2033-06-10      | Variable      | 7.53%                 | No            |                  2 | On Loan: No      |
| NCMF Trust                                                                       | NCMF Trust 2025-MFS                                                              | CUSIP: 62887TAL8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     125000 | PA      | $127296.25    | 0.05%             | 2033-06-10      | Variable      | 8.44%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                                   | NRG Energy Inc                                                                   | CUSIP: 629377CL4<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     349000 | PA      | $346651.55    | 0.12%             | 2029-06-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                                   | NRG Energy Inc                                                                   | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |      24000 | PA      | $22403.66     | 0.01%             | 2031-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                                                   | NRG Energy Inc                                                                   | CUSIP: 629377CT7<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     326000 | PA      | $359840.43    | 0.13%             | 2033-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| NXP BV/NXP FUNDING LLC                                                           | NXP BV / NXP Funding LLC                                                         | CUSIP: 62947QBC1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |      40000 | PA      | $41325.60     | 0.01%             | 2028-12-01      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| NYC Trust                                                                        | NYCT Trust 2024-3ELV                                                             | CUSIP: 62956HAE6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     110000 | PA      | $110202.84    | 0.04%             | 2029-08-15      | Floating      | 6.87%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                                          | NYMT 2024-RR1 Trust                                                              | CUSIP: 62956VAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     125384 | PA      | $124661.56    | 0.04%             | 2064-05-25      | Variable      | 7.38%                 | No            |                  2 | On Loan: No      |
| New York Mortgage Trust                                                          | NYMT Loan Trust 2024-INV1                                                        | CUSIP: 62956XAA9<br>LEI: 2549009GL7U73W4FX613 | Long             | ABS-MBS          | CORP              | US        |      87075 | PA      | $87286.53     | 0.03%             | 2069-06-25      | Variable      | 5.38%                 | No            |                  2 | On Loan: No      |
| Navient Refinance Loan Trust                                                     | Navient Refinance Loan Trust 2025-C                                              | CUSIP: 638973AA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $99936.26     | 0.04%             | 2055-10-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                                       | Navient Private Education Refi Loan Trust 2019-C                                 | CUSIP: 63940YAB2<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |      42285 | PA      | $41750.33     | 0.01%             | 2068-02-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                                       | Navient Private Education Refi Loan Trust 2019-A                                 | CUSIP: 63941BAD7<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |     129000 | PA      | $125389.82    | 0.04%             | 2043-01-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                                       | Navient Private Education Loan Trust 2020-A                                      | CUSIP: 63941FAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      86123 | PA      | $83305.55     | 0.03%             | 2068-11-15      | Fixed         | 2.46%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                                       | Navient Private Education Loan Trust 2020-A                                      | CUSIP: 63941FAD8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $91108.79     | 0.03%             | 2068-11-15      | Fixed         | 3.16%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                                       | Navient Private Education Refi Loan Trust 2020-C                                 | CUSIP: 63941KAC9<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |     101172 | PA      | $101899.16    | 0.04%             | 2068-11-15      | Floating      | 5.75%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                                       | Navient Private Education Refi Loan Trust 2020-H                                 | CUSIP: 63942AAB2<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |     242025 | PA      | $240828.35    | 0.09%             | 2069-04-15      | Floating      | 5.15%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                                                       | Navient Private Education Refi Loan Trust 2024-A                                 | CUSIP: 63943CAA9<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |      67682 | PA      | $69521.86     | 0.02%             | 2072-10-15      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| Navient Refinance Loan Trust                                                     | Navient Refinance Loan Trust 2025-B                                              | CUSIP: 63943NAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     131000 | PA      | $130969.11    | 0.05%             | 2055-09-15      | Fixed         | 4.72%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                        | Nelnet Student Loan Trust 2025-B                                                 | CUSIP: 64032BAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     242903 | PA      | $243832.55    | 0.09%             | 2055-05-17      | Floating      | 5.58%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                        | Nelnet Student Loan Trust 2025-B                                                 | CUSIP: 64032BAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     115000 | PA      | $115061.99    | 0.04%             | 2055-05-17      | Fixed         | 4.98%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                        | Nelnet Student Loan Trust 2025-B                                                 | CUSIP: 64032BAD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $100439.21    | 0.04%             | 2055-05-17      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                        | Nelnet Student Loan Trust 2025-B                                                 | CUSIP: 64032BAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $100128.34    | 0.04%             | 2055-05-17      | Fixed         | 6.04%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                        | Nelnet Student Loan Trust 2025-A                                                 | CUSIP: 64033XAE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     250057 | PA      | $249126.90    | 0.09%             | 2057-03-15      | Floating      | 5.33%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                        | Nelnet Student Loan Trust 2021-D                                                 | CUSIP: 64034YAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     200000 | PA      | $180114.18    | 0.06%             | 2062-04-20      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                        | Nelnet Student Loan Trust 2021-A                                                 | CUSIP: 64035DAC0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     381000 | PA      | $379608.82    | 0.14%             | 2062-04-20      | Floating      | 5.18%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                        | Nelnet Student Loan Trust 2025-C                                                 | CUSIP: 64035UAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     129000 | PA      | $129727.21    | 0.05%             | 2065-06-22      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| Nelnet Student Loan Trust                                                        | Nelnet Student Loan Trust 2025-C                                                 | CUSIP: 64035UAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     129000 | PA      | $127529.43    | 0.05%             | 2065-06-22      | Fixed         | 5.82%                 | No            |                  2 | On Loan: No      |
| Neuberger Berman CLO Ltd                                                         | Neuberger Berman Loan Advisers CLO 36R Ltd                                       | CUSIP: 64090EAA4<br>LEI: 254900RBT2LAQQHMHG60 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250388.68    | 0.09%             | 2039-07-20      | Floating      | 5.55%                 | No            |                  2 | On Loan: No      |
| New Jersey Turnpike Authority                                                    | NEW JERSEY ST TURNPIKE AUTH TURNPIKE REVENUE                                     | CUSIP: 646139W35<br>LEI: 5493005YN67D71KSMI84 | Long             | DBT              | MUN               | US        |      63000 | PA      | $76197.10     | 0.03%             | 2040-01-01      | Fixed         | 7.41%                 | No            |                  2 | On Loan: No      |
| New Mountain CLO Ltd                                                             | New Mountain CLO 3 Ltd                                                           | CUSIP: 647550AW2<br>LEI: 549300CEYMYPINCEX579 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250998.78    | 0.09%             | 2038-10-20      | Floating      | 5.83%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                              | New Residential Mortgage Loan Trust 2025-NQM3                                    | CUSIP: 64832CAG8<br>LEI: 2138002D8CMDYG7QOU84 | Long             | ABS-MBS          | CORP              | US        |     107000 | PA      | $108423.85    | 0.04%             | 2065-05-25      | Variable      | 7.06%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                              | New Residential Mortgage Loan Trust 2025-NQM1                                    | CUSIP: 64832DAC5<br>LEI: 213800CZKHCTHKMD9W65 | Long             | ABS-MBS          | CORP              | US        |     137875 | PA      | $139200.92    | 0.05%             | 2065-01-25      | Variable      | 5.64%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                              | New Residential Mortgage Loan Trust 2025-NQM4                                    | CUSIP: 64832FAC0<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |      96064 | PA      | $96590.21     | 0.03%             | 2065-07-25      | Variable      | 5.35%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust                                              | New Residential Mortgage Loan Trust 2025-NQM4                                    | CUSIP: 64832FAG1<br>LEI: 2138001CG5SYL78G3648 | Long             | ABS-MBS          | CORP              | US        |     105000 | PA      | $104493.25    | 0.04%             | 2065-07-25      | Variable      | 7.04%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                  | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE                         | CUSIP: 64972FL20<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |      10000 | PA      | $10577.33     | 0.00%             | 2042-06-15      | Fixed         | 6.01%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                                  | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE                         | CUSIP: 64972FY34<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |      20000 | PA      | $20885.46     | 0.01%             | 2044-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                                                                | Newell Brands Inc                                                                | CUSIP: 651229BD7<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |      25000 | PA      | $24448.86     | 0.01%             | 2029-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                                                                | Nexstar Media Inc                                                                | CUSIP: 65336YAN3<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |      26000 | PA      | $25591.52     | 0.01%             | 2028-11-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                                          | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAF2<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |     100000 | PA      | $104035.11    | 0.04%             | 2028-09-15      | Fixed         | 7.05%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                                                          | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAK1<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |      31000 | PA      | $30977.08     | 0.01%             | 2028-09-29      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                                                                    | Nordstrom Inc                                                                    | CUSIP: 655664AY6<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |      25000 | PA      | $22763.47     | 0.01%             | 2031-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                                           | Northern Oil & Gas Inc                                                           | CUSIP: 665530AB7<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |      25000 | PA      | $25479.75     | 0.01%             | 2031-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                                                           | Northern Oil & Gas Inc                                                           | CUSIP: 665531AL3<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |       4000 | PA      | $3896.01      | 0.00%             | 2033-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                                                            | Northrop Grumman Corp                                                            | CUSIP: 666807BP6<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |     141000 | PA      | $115734.92    | 0.04%             | 2047-10-15      | Fixed         | 4.03%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                                                            | Northrop Grumman Corp                                                            | CUSIP: 666807BU5<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |      44000 | PA      | $42504.27     | 0.02%             | 2050-05-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| NORTHROP GRUMMAN CORP                                                            | Northrop Grumman Corp                                                            | CUSIP: 666807CJ9<br>LEI: RIMU48P07456QXSO0R61 | Long             | DBT              | CORP              | US        |      71000 | PA      | $65320.09     | 0.02%             | 2053-03-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| NOVA CHEMICALS CORP                                                              | NOVA Chemicals Corp                                                              | CUSIP: 66977WAS8<br>LEI: 549300ZOD6N7RI2FJP09 | Long             | DBT              | CORP              | CA        |      25000 | PA      | $24330.00     | 0.01%             | 2029-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| NRTH PARK Mortgage Trust                                                         | NRTH Commercial Mortgage Trust 2025-PARK                                         | CUSIP: 669985AA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100031.25    | 0.04%             | 2040-10-15      | Floating      | 5.54%                 | No            |                  2 | On Loan: No      |
| NUSTAR LOGISTICS LP                                                              | NuStar Logistics LP                                                              | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |      50000 | PA      | $52073.00     | 0.02%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                                      | OCP CLO 2017-13 Ltd                                                              | CUSIP: 67097LAV8<br>LEI: 254900M77QLN2EBJHE11 | Long             | ABS-CBDO         | CORP              | KY        |     650000 | PA      | $651592.11    | 0.23%             | 2037-11-26      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                                                  | OHA Credit Funding 6 Ltd                                                         | CUSIP: 67098UAY1<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250660.50    | 0.09%             | 2037-10-20      | Floating      | 5.21%                 | No            |                  2 | On Loan: No      |
| Oak Hill Credit                                                                  | OHA Credit Funding 7 Ltd                                                         | CUSIP: 67098WAY7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250401.28    | 0.09%             | 2038-07-19      | Floating      | 5.16%                 | No            |                  2 | On Loan: No      |
| OHA Loan Funding Ltd                                                             | OHA Loan Funding 2016-1 Ltd                                                      | CUSIP: 67110UAW9<br>LEI: 54930016024GMIAF7A82 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250868.78    | 0.09%             | 2037-07-20      | Floating      | 5.34%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                                      | OCP CLO 2024-38 Ltd                                                              | CUSIP: 67120KAA7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250599.78    | 0.09%             | 2038-01-21      | Floating      | 5.20%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                                                    | NYC Commercial Mortgage Trust 2025-300P                                          | CUSIP: 67121TAJ8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      53000 | PA      | $53499.64     | 0.02%             | 2042-07-13      | Variable      | 7.39%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                                                    | NYC Commercial Mortgage Trust 2025-11X                                           | CUSIP: 67122NAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     134000 | PA      | $134000.00    | 0.05%             | 2040-10-15      | Floating      | 5.74%                 | No            |                  2 | On Loan: No      |
| NYC Commercial Mortgage Trust                                                    | NYC Commercial Mortgage Trust 2025-28L                                           | CUSIP: 67123JAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99910.40     | 0.04%             | 2038-11-05      | Variable      | 4.67%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                                                         | OBX 2025-NQM3 Trust                                                              | CUSIP: 67448YAC8<br>LEI: 254900MBGY6CR10DAX67 | Long             | ABS-MBS          | CORP              | US        |      88381 | PA      | $89162.64     | 0.03%             | 2064-12-01      | Variable      | 5.65%                 | No            |                  2 | On Loan: No      |
| OCP CLO Ltd                                                                      | OCP CLO 2024-36 Ltd                                                              | CUSIP: 67570EAN8<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | JE        |     250000 | PA      | $250536.15    | 0.09%             | 2037-10-16      | Floating      | 5.59%                 | No            |                  2 | On Loan: No      |
| OHIO POWER COMPANY                                                               | Ohio Power Co                                                                    | CUSIP: 677415CR0<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |      21000 | PA      | $16343.26     | 0.01%             | 2049-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OHIO POWER COMPANY                                                               | Ohio Power Co                                                                    | CUSIP: 677415CS8<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |      57000 | PA      | $53107.46     | 0.02%             | 2030-04-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| OHIO POWER COMPANY                                                               | Ohio Power Co                                                                    | CUSIP: 677415CT6<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |      50000 | PA      | $43503.45     | 0.02%             | 2031-01-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| OHIO POWER COMPANY                                                               | Ohio Power Co                                                                    | CUSIP: 677415CU3<br>LEI: 06ZODLC132CY1O2Y7D77 | Long             | DBT              | CORP              | US        |      66000 | PA      | $41381.18     | 0.01%             | 2051-10-01      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| OLIN CORP                                                                        | Olin Corp                                                                        | CUSIP: 680665AK2<br>LEI: 549300GKK294V7W57P06 | Long             | DBT              | CORP              | US        |      27000 | PA      | $26257.62     | 0.01%             | 2030-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| 1011778 BC / NEW RED FIN                                                         | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAM1<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      50000 | PA      | $47269.42     | 0.02%             | 2030-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| 1011778 BC / NEW RED FIN                                                         | 1011778 BC ULC / New Red Finance Inc                                             | CUSIP: 68245XAP4<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |      25000 | PA      | $24088.97     | 0.01%             | 2029-02-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Avenue of Americas                                                               | 1301 Trust 2025-AOA                                                              | CUSIP: 682461AA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      20000 | PA      | $20294.97     | 0.01%             | 2042-08-11      | Variable      | 5.06%                 | No            |                  2 | On Loan: No      |
| Avenue of Americas                                                               | 1301 Trust 2025-AOA                                                              | CUSIP: 682461AL2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      38000 | PA      | $38291.44     | 0.01%             | 2042-08-11      | Variable      | 7.24%                 | No            |                  2 | On Loan: No      |
| Avenue of Americas                                                               | 1301 Trust 2025-AOA                                                              | CUSIP: 682461AN8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     421000 | PA      | $425223.39    | 0.15%             | 2042-08-11      | Variable      | 8.10%                 | No            |                  2 | On Loan: No      |
| One New York Plaza Trust 2020-1NYP                                               | One New York Plaza Trust 2020-1NYP                                               | CUSIP: 68249DAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      40000 | PA      | $39000.00     | 0.01%             | 2036-01-15      | Floating      | 5.10%                 | No            |                  2 | On Loan: No      |
| ONEOK INC                                                                        | ONEOK Inc                                                                        | CUSIP: 682680CR2<br>LEI: 2T3D6M0JSY48PSZI1Q41 | Long             | DBT              | CORP              | US        |       5000 | PA      | $5349.13      | 0.00%             | 2030-09-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                                 | OneMain Financial Issuance Trust 2019-2                                          | CUSIP: 68269BAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     125000 | PA      | $121313.09    | 0.04%             | 2036-10-14      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                                 | OneMain Financial Issuance Trust 2023-2                                          | CUSIP: 68269HAB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $103187.45    | 0.04%             | 2036-09-15      | Fixed         | 6.17%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                                 | Onemain Financial Issuance Trust 2024-1                                          | CUSIP: 68269NAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $105129.24    | 0.04%             | 2041-05-14      | Fixed         | 5.79%                 | No            |                  2 | On Loan: No      |
| OneMain Financial Issuance Trust                                                 | Onemain Financial Issuance Trust 2024-1                                          | CUSIP: 68269NAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     148000 | PA      | $156149.43    | 0.06%             | 2041-05-14      | Fixed         | 6.03%                 | No            |                  2 | On Loan: No      |
| 1345 Trust                                                                       | 1345T 2025-AOA                                                                   | CUSIP: 68271CAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     287000 | PA      | $287538.13    | 0.10%             | 2042-06-15      | Floating      | 5.63%                 | No            |                  2 | On Loan: No      |
| 1345 Trust                                                                       | 1345T 2025-AOA                                                                   | CUSIP: 68271CAJ1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      40000 | PA      | $40312.80     | 0.01%             | 2042-06-15      | Floating      | 8.53%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT CORP                                                                   | Open Text Corp                                                                   | CUSIP: 683715AC0<br>LEI: 549300HP7ONDQODZJV16 | Long             | DBT              | CORP              | CA        |      25000 | PA      | $24299.22     | 0.01%             | 2028-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| OPEN Trust                                                                       | OPEN Trust 2023-AIR                                                              | CUSIP: 68373BAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       6501 | PA      | $6501.25      | 0.00%             | 2040-11-15      | Floating      | 7.12%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                      | Oracle Corp                                                                      | CUSIP: 68389XCB9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     124000 | PA      | $85436.35     | 0.03%             | 2061-03-25      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                      | Oracle Corp                                                                      | CUSIP: 68389XCV5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     122000 | PA      | $106374.99    | 0.04%             | 2064-09-27      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                      | Oracle Corp                                                                      | CUSIP: 68389XDB8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     146000 | PA      | $139651.33    | 0.05%             | 2055-08-03      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                      | Oracle Corp                                                                      | CUSIP: 68389XDC6<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |      39000 | PA      | $37267.30     | 0.01%             | 2065-08-03      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                      | Oracle Corp                                                                      | CUSIP: 68389XDR3<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     279000 | PA      | $264518.36    | 0.09%             | 2055-09-26      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                                                      | Oracle Corp                                                                      | CUSIP: 68389XDT9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |     182000 | PA      | $173557.78    | 0.06%             | 2065-09-26      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Option One Mortgage Loan Trust                                                   | Option One Mortgage Loan Trust 2007-FXD1                                         | CUSIP: 68402VAF9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      31571 | PA      | $30942.33     | 0.01%             | 2037-01-25      | Variable      | 5.86%                 | No            |                  2 | On Loan: No      |
| ORBIA ADVANCE CORP SAB                                                           | Orbia Advance Corp SAB de CV                                                     | CUSIP: 68560EAC2<br>LEI: 549300MVHZ20SBIOEQ79 | Long             | DBT              | CORP              | MX        |     200000 | PA      | $200310.00    | 0.07%             | 2030-05-13      | Fixed         | 6.80%                 | No            |                  2 | On Loan: No      |
| Orchard Park CLO, LTD.                                                           | Orchard Park Clo Ltd                                                             | CUSIP: 68563JAA2<br>LEI: 3912000K0W3TWP1KMO81 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250627.33    | 0.09%             | 2037-10-20      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                                                         | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAE4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      25000 | PA      | $24142.61     | 0.01%             | 2029-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                                                   | Owens-Brockway Glass Container Inc                                               | CUSIP: 69073TAU7<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |      24000 | PA      | $23520.18     | 0.01%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Owl Rock CLO Ltd                                                                 | Owl Rock CLO VII LLC                                                             | CUSIP: 69121BAQ7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | US        |     250000 | PA      | $248750.00    | 0.09%             | 2038-04-20      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| PECO ENERGY CO                                                                   | PECO Energy Co                                                                   | CUSIP: 693304AV9<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |      17000 | PA      | $13324.39     | 0.00%             | 2047-09-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| PECO ENERGY CO                                                                   | PECO Energy Co                                                                   | CUSIP: 693304AW7<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |       9000 | PA      | $7268.47      | 0.00%             | 2048-03-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| PECO ENERGY CO                                                                   | PECO Energy Co                                                                   | CUSIP: 693304BC0<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |      20000 | PA      | $12921.36     | 0.00%             | 2051-09-15      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| PECO ENERGY CO                                                                   | PECO Energy Co                                                                   | CUSIP: 693304BD8<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |       9000 | PA      | $7981.87      | 0.00%             | 2052-05-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PECO ENERGY CO                                                                   | PECO Energy Co                                                                   | CUSIP: 693304BG1<br>LEI: YH65D4JBECK76IFEJ279 | Long             | DBT              | CORP              | US        |      64000 | PA      | $62148.06     | 0.02%             | 2054-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                                                        | PG&E Corp                                                                        | CUSIP: 69331CAJ7<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     940000 | PA      | $930228.89    | 0.33%             | 2030-07-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PG&E CORP                                                                        | PG&E Corp                                                                        | CUSIP: 69331CAM0<br>LEI: 8YQ2GSDWYZXO2EDN3511 | Long             | DBT              | CORP              | US        |     510000 | PA      | $524547.75    | 0.19%             | 2055-03-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| PRKCM Trust                                                                      | PRKCM 2022-AFC1 Trust                                                            | CUSIP: 69377CAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     105412 | PA      | $105018.64    | 0.04%             | 2057-04-25      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| PGA National Resort Commercial Mortgage Trust                                    | PGA Trust 2024-RSR2                                                              | CUSIP: 69381CAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     107000 | PA      | $107100.31    | 0.04%             | 2039-06-15      | Floating      | 5.92%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                                                | PRPM 2025-NQM3 Trust                                                             | CUSIP: 69382NAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     107640 | PA      | $108336.17    | 0.04%             | 2070-05-25      | Variable      | 5.61%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                                                | PRPM 2025-NQM3 Trust                                                             | CUSIP: 69382NAE2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     150000 | PA      | $150094.40    | 0.05%             | 2070-05-25      | Variable      | 6.94%                 | No            |                  2 | On Loan: No      |
| PENN Commercial Mortgage Trust                                                   | PENN Commercial Mortgage Trust 2025-P11                                          | CUSIP: 69382VAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      15000 | PA      | $15248.93     | 0.01%             | 2042-08-10      | Variable      | 5.34%                 | No            |                  2 | On Loan: No      |
| PRM5 Trust                                                                       | PRM5 Trust 2025-PRM5                                                             | CUSIP: 693980AG9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      69000 | PA      | $68685.50     | 0.02%             | 2033-03-10      | Variable      | 5.62%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308HA8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |      13000 | PA      | $9918.87      | 0.00%             | 2042-08-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308HD2<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |       8000 | PA      | $6744.51      | 0.00%             | 2043-06-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308HH3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |      51000 | PA      | $43541.17     | 0.02%             | 2044-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308HN0<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |      66000 | PA      | $52078.30     | 0.02%             | 2046-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308HR1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     197000 | PA      | $148945.94    | 0.05%             | 2046-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308JH1<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     218000 | PA      | $165549.03    | 0.06%             | 2040-08-01      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308JJ7<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     209000 | PA      | $142818.20    | 0.05%             | 2050-08-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308JN8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     111000 | PA      | $95542.40     | 0.03%             | 2050-07-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308KD8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |      52000 | PA      | $46072.21     | 0.02%             | 2052-03-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308KH9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     365000 | PA      | $394243.34    | 0.14%             | 2053-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308KJ5<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |      72000 | PA      | $76421.38     | 0.03%             | 2033-01-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308KM8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |      82000 | PA      | $88234.44     | 0.03%             | 2033-06-15      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308KT3<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     157000 | PA      | $152845.44    | 0.05%             | 2054-10-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308KV8<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |     172000 | PA      | $173165.45    | 0.06%             | 2055-03-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| PACIFIC GAS & ELECTRIC                                                           | Pacific Gas and Electric Co                                                      | CUSIP: 694308KZ9<br>LEI: 1HNPXZSMMB7HMBMVBS46 | Long             | DBT              | CORP              | US        |      99000 | PA      | $98926.37     | 0.04%             | 2055-10-15      | Fixed         | 6.10%                 | No            |                  2 | On Loan: No      |
| Palmer Square Loan Funding Ltd                                                   | Palmer Square Loan Funding 2022-3 Ltd                                            | CUSIP: 69690CAL7<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |       2411 | PA      | $2410.74      | 0.00%             | 2031-04-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Palmer Square CLO Ltd                                                            | Palmer Square CLO 2021-4 Ltd                                                     | CUSIP: 69702EAL9<br>LEI: 254900HTQ89UZTKY6247 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250575.50    | 0.09%             | 2038-07-15      | Floating      | 5.22%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                                            | Panama Government International Bonds                                            | CUSIP: 698299BF0<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     400000 | PA      | $393306.68    | 0.14%             | 2028-03-17      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Panama Government International Bonds                                            | Panama Government International Bonds                                            | CUSIP: 698299BM5<br>LEI: 549300SHS4T08CL0LP14 | Long             | DBT              | NUSS              | PA        |     200000 | PA      | $152666.34    | 0.05%             | 2056-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO Ltd                                                                | Park Blue CLO 2025-VII Ltd                                                       | CUSIP: 70019HAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250338.18    | 0.09%             | 2038-04-25      | Floating      | 5.08%                 | No            |                  2 | On Loan: No      |
| Park Blue CLO Ltd                                                                | Park Blue Clo 2025-IX Ltd                                                        | CUSIP: 70019UAA3<br>LEI: 213800GMETRF98C4D824 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250502.55    | 0.09%             | 2038-10-20      | Floating      | 5.43%                 | No            |                  2 | On Loan: No      |
| PENNYMAC FIN SVCS INC                                                            | PennyMac Financial Services Inc                                                  | CUSIP: 70932MAE7<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |      50000 | PA      | $52348.90     | 0.02%             | 2030-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| Peru Government International Bonds                                              | Peru Government International Bonds                                              | CUSIP: 715638DT6<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     146000 | PA      | $105266.00    | 0.04%             | 2051-03-10      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| PFIZER INVESTMENT ENTER                                                          | Pfizer Investment Enterprises Pte Ltd                                            | CUSIP: 716973AE2<br>LEI: 5493000FQO8XF9C0RT95 | Long             | DBT              | CORP              | SG        |      29000 | PA      | $29350.95     | 0.01%             | 2033-05-19      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| PFIZER INC                                                                       | Pfizer Inc                                                                       | CUSIP: 717081EC3<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |      34000 | PA      | $31795.88     | 0.01%             | 2036-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| PFIZER INC                                                                       | Pfizer Inc                                                                       | CUSIP: 717081FA6<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | DBT              | CORP              | US        |      26000 | PA      | $16602.75     | 0.01%             | 2050-05-28      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Philippines Government International Bonds                                       | Philippines Government International Bonds                                       | CUSIP: 718286CC9<br>LEI: 529900RAHBALMYIJ3T08 | Long             | DBT              | NUSS              | PH        |     600000 | PA      | $587400.00    | 0.21%             | 2028-02-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| PILGRIM'S PRIDE CORP                                                             | Pilgrim's Pride Corp                                                             | CUSIP: 72147KAJ7<br>LEI: 549300ZSLGV64ZL3HD75 | Long             | DBT              | CORP              | US        |      18000 | PA      | $17422.03     | 0.01%             | 2031-04-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PINNACLE WEST CAPITAL                                                            | Pinnacle West Capital Corp                                                       | CUSIP: 723484AN1<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | DBT              | CORP              | US        |     224000 | PA      | $230829.82    | 0.08%             | 2030-05-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Point Broadband Funding LLC                                                      | Point Broadband Funding LLC                                                      | CUSIP: 73052AAE1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     153000 | PA      | $153342.75    | 0.05%             | 2055-07-20      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                          | PORT AUTH OF NEW YORK & NEW JERSEY NY                                            | CUSIP: 73358WEK6<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |      30000 | PA      | $28749.17     | 0.01%             | 2051-10-01      | Fixed         | 4.93%                 | No            |                  2 | On Loan: No      |
| Port Authority of New York & New Jersey                                          | PORT AUTH OF NEW YORK & NEW JERSEY NY                                            | CUSIP: 73358WRP1<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |      50000 | PA      | $48015.47     | 0.02%             | 2046-08-01      | Fixed         | 4.96%                 | No            |                  2 | On Loan: No      |
| Post CLO LTD                                                                     | Post CLO 2023-1 Ltd                                                              | CUSIP: 73743CAQ5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250000.00    | 0.09%             | 2038-10-20      | Floating      | 5.56%                 | No            |                  2 | On Loan: No      |
| POST HOLDINGS INC                                                                | Post Holdings Inc                                                                | CUSIP: 737446AQ7<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |       6000 | PA      | $5817.26      | 0.00%             | 2030-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                                                | PRPM 2025-NQM1 Trust                                                             | CUSIP: 74391EAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     181562 | PA      | $183316.07    | 0.07%             | 2069-11-25      | Variable      | 5.80%                 | No            |                  2 | On Loan: No      |
| PRP Advisors, LLC                                                                | PRPM 2025-NQM1 Trust                                                             | CUSIP: 74391EAD3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     171697 | PA      | $174015.68    | 0.06%             | 2069-11-25      | Variable      | 6.65%                 | No            |                  2 | On Loan: No      |
| BX Trust                                                                         | BX Commercial Mortgage Trust 2024-PURE                                           | CUSIP: 74625PAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | CA        |       7674 | PA      | $5484.55      | 0.00%             | 2041-11-15      | Floating      | 4.44%                 | No            |                  2 | On Loan: No      |
| QTS ISSUER ABS II LLC                                                            | QTS Issuer ABS II LLC                                                            | CUSIP: 74690FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     106000 | PA      | $105931.40    | 0.04%             | 2055-10-05      | Fixed         | 5.04%                 | No            |                  2 | On Loan: No      |
| QUIKRETE HOLDINGS INC                                                            | Quikrete Holdings Inc                                                            | CUSIP: 74843PAA8<br>LEI: 5493007KIN86DIZWZT22 | Long             | DBT              | CORP              | US        |      50000 | PA      | $51860.60     | 0.02%             | 2032-03-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Residential Accredit Loans, Inc.                                                 | RALI Series 2006-QA10 Trust                                                      | CUSIP: 74922NAB5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     188696 | PA      | $169931.97    | 0.06%             | 2036-12-25      | Floating      | 4.47%                 | No            |                  2 | On Loan: No      |
| Residential Asset Mortgage Products, INC.                                        | RAMP Series 2007-RS1 Trust                                                       | CUSIP: 74923RAD1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     111157 | PA      | $25536.66     | 0.01%             | 2037-02-25      | Floating      | 4.67%                 | No            |                  2 | On Loan: No      |
| Woodward Capital Management                                                      | RCKT Mortgage Trust 2024-CES2                                                    | CUSIP: 74938PAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     138000 | PA      | $141664.67    | 0.05%             | 2044-04-25      | Variable      | 8.01%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                                                         | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AG0<br>LEI: N/A                  | Long             | DBT              |  | US        |     100000 | PA      | $98377.24     | 0.04%             | 2029-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Residential Funding Mtg Sec I                                                    | RFMSI Series 2006-SA4 Trust                                                      | CUSIP: 74958CAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |       6701 | PA      | $5638.51      | 0.00%             | 2036-11-25      | Variable      | 5.44%                 | No            |                  2 | On Loan: No      |
| Residential Funding Mtg Sec I                                                    | RFMSI Series 2007-SA4 Trust                                                      | CUSIP: 74959AAB9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      53256 | PA      | $32198.50     | 0.01%             | 2037-10-25      | Variable      | 5.73%                 | No            |                  2 | On Loan: No      |
| RR Ltd                                                                           | RR 32 LTD /old                                                                   | CUSIP: 74988CAA2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250618.80    | 0.09%             | 2039-10-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Rad CLO Ltd                                                                      | Rad CLO 15 Ltd                                                                   | CUSIP: 750103AJ2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250578.80    | 0.09%             | 2040-07-20      | Floating      | 5.24%                 | No            |                  2 | On Loan: No      |
| Rain City Mortgage Trust                                                         | Rain City Mortgage Trust 2024-RTL1                                               | CUSIP: 75079KAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $101076.67    | 0.04%             | 2029-09-25      | Variable      | 6.53%                 | No            |                  2 | On Loan: No      |
| RAIZEN FUELS FINANCE                                                             | Raizen Fuels Finance SA                                                          | CUSIP: 75102XAF3<br>LEI: 52990010NH26VC32Q522 | Long             | DBT              | CORP              | LU        |     203000 | PA      | $173204.68    | 0.06%             | 2032-07-08      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Regatta XVIII Funding Ltd                                                        | Regatta XVIII Funding Ltd                                                        | CUSIP: 75884EAN2<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $249918.58    | 0.09%             | 2038-04-15      | Floating      | 5.06%                 | No            |                  2 | On Loan: No      |
| Regatta IX Funding Ltd                                                           | Regatta IX Funding Ltd                                                           | CUSIP: 75887VAN1<br>LEI: 254900JVS76S6N8G1I74 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250700.75    | 0.09%             | 2037-04-17      | Floating      | 5.88%                 | No            |                  2 | On Loan: No      |
| Regatta 35 Funding Ltd.                                                          | Regatta 35 Funding Ltd                                                           | CUSIP: 75903YAA3<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250366.85    | 0.09%             | 2038-10-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                                               | Regional Management Issuance Trust 2021-2                                        | CUSIP: 75907UAA7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $96373.16     | 0.03%             | 2033-08-15      | Fixed         | 1.90%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                                               | Regional Management Issuance Trust 2025-1                                        | CUSIP: 75908AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     100000 | PA      | $101003.70    | 0.04%             | 2034-04-17      | Fixed         | 5.53%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust                                               | Regional Management Issuance Trust 2025-2                                        | CUSIP: 75908BAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     147000 | PA      | $146621.08    | 0.05%             | 2037-11-16      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| REPSOL E&P CAP MARKETS                                                           | Repsol E&P Capital Markets US LLC                                                | CUSIP: 76026AAA5<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |     200000 | PA      | $200476.09    | 0.07%             | 2028-09-16      | Fixed         | 4.81%                 | No            |                  2 | On Loan: No      |
| REPSOL E&P CAP MARKETS                                                           | Repsol E&P Capital Markets US LLC                                                | CUSIP: 76026AAC1<br>LEI: 894500D0J12FRZ3Q0M15 | Long             | DBT              | CORP              | US        |     200000 | PA      | $203510.78    | 0.07%             | 2035-09-16      | Fixed         | 5.98%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                                  | Republic Finance Issuance Trust 2024-A                                           | CUSIP: 76041RAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     115000 | PA      | $116200.13    | 0.04%             | 2032-08-20      | Fixed         | 5.91%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                                  | Republic Finance Issuance Trust 2025-A                                           | CUSIP: 76042FAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     123000 | PA      | $122482.81    | 0.04%             | 2034-11-20      | Fixed         | 4.59%                 | No            |                  2 | On Loan: No      |
| Republic Finance Issuance Trust                                                  | Republic Finance Issuance Trust 2024-B                                           | CUSIP: 76042GAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     114000 | PA      | $115962.51    | 0.04%             | 2037-11-20      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Uruguay Government International Bonds                                           | Uruguay Government International Bonds                                           | CUSIP: 760942BA9<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     138403 | PA      | $133628.10    | 0.05%             | 2050-06-18      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| Uruguay Government International Bonds                                           | Uruguay Government International Bonds                                           | CUSIP: 760942BB7<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     123933 | PA      | $124367.10    | 0.04%             | 2027-10-27      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| REPUBLICA ORIENT URUGUAY                                                         | Uruguay Government International Bond                                            | CUSIP: 760942BJ0<br>LEI: 549300RDR012H2V82H43 | Long             | DBT              | NUSS              | UY        |     568303 | PA      | $14315.13     | 0.01%             | 2035-10-29      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Residential Mortgage Loan Trust                                                  | Residential Mortgage Loan Trust 2019-2                                           | CUSIP: 76119DAF6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99441.80     | 0.04%             | 2059-05-25      | Variable      | 6.04%                 | No            |                  2 | On Loan: No      |
| Retained Vantage Data Centers Issuer, LLC                                        | Retained Vantage Data Centers Issuer LLC                                         | CUSIP: 76134KAM6<br>LEI: 254900N4NW6XZ9B4HM15 | Long             | ABS-O            | CORP              | US        |      96000 | PA      | $96402.91     | 0.03%             | 2050-08-15      | Fixed         | 5.09%                 | No            |                  2 | On Loan: No      |
| REYNOLDS AMERICAN INC                                                            | Reynolds American Inc                                                            | CUSIP: 761713AZ9<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |      26000 | PA      | $26756.68     | 0.01%             | 2043-09-15      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| REYNOLDS AMERICAN INC                                                            | Reynolds American Inc                                                            | CUSIP: 761713BB1<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |     239000 | PA      | $236925.59    | 0.08%             | 2045-08-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| REYNOLDS AMERICAN INC                                                            | Reynolds American Inc                                                            | CUSIP: 761713BW5<br>LEI: 02S2RPPVO9RP4NEU2740 | Long             | DBT              | CORP              | US        |      10000 | PA      | $10685.68     | 0.00%             | 2041-08-04      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                                                         | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      28000 | PA      | $27484.96     | 0.01%             | 2026-10-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                                                         | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                              | CUSIP: 77313LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      50000 | PA      | $46044.45     | 0.02%             | 2033-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| ROCKIES EXPRESS PIPELINE                                                         | Rockies Express Pipeline LLC                                                     | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |       6000 | PA      | $5948.43      | 0.00%             | 2029-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                                                           | Rockford Tower CLO 2019-2 Ltd                                                    | CUSIP: 77341GAU4<br>LEI: 549300IG5M07NI4QKK80 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $249542.05    | 0.09%             | 2032-08-20      | Floating      | 5.85%                 | No            |                  2 | On Loan: No      |
| Rockford Tower CLO Ltd                                                           | Rockford Tower CLO 2018-1 Ltd                                                    | CUSIP: 77342JAA1<br>LEI: 549300KPFGDIQ0PMP224 | Long             | ABS-CBDO         | CORP              | KY        |      76846 | PA      | $76847.63     | 0.03%             | 2031-05-20      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| ROGERS COMMUNICATIONS IN                                                         | Rogers Communications Inc                                                        | CUSIP: 775109DG3<br>LEI: 5493000M6Z4XFIP6PF03 | Long             | DBT              | CORP              | CA        |     100000 | PA      | $104555.85    | 0.04%             | 2055-04-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                                                          | Royal Caribbean Cruises Ltd                                                      | CUSIP: 78017TAB9<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |      65000 | PA      | $65440.56     | 0.02%             | 2036-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| SESAC Finance, LLC                                                               | Sesac Finance LLC                                                                | CUSIP: 78396YAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      91000 | PA      | $90760.09     | 0.03%             | 2055-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                                                          | SBA Communications Corp                                                          | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |     100000 | PA      | $98881.28     | 0.04%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SHR Trust                                                                        | SHR Trust 2024-LXRY                                                              | CUSIP: 784234AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100062.50    | 0.04%             | 2041-10-15      | Floating      | 5.98%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                                                             | SCG 2024-MSP Mortgage Trust                                                      | CUSIP: 78436EAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     242000 | PA      | $241849.16    | 0.09%             | 2041-04-15      | Floating      | 5.77%                 | No            |                  2 | On Loan: No      |
| SAIF Securitization Trust                                                        | SAIF Securitization Trust 2024-CES1                                              | CUSIP: 78436VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      66691 | PA      | $67100.42     | 0.02%             | 2054-07-25      | Variable      | 5.97%                 | No            |                  2 | On Loan: No      |
| SDAL Trust                                                                       | SDAL Trust 2025-DAL                                                              | CUSIP: 78437RAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100741.69    | 0.04%             | 2042-04-15      | Floating      | 6.47%                 | No            |                  2 | On Loan: No      |
| SCG Hotel Issuer Inc                                                             | SCG Commercial Mortgage Trust 2025-FLWR                                          | CUSIP: 78438AAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     120000 | PA      | $120037.50    | 0.04%             | 2042-08-15      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| SLM Student Loan Trust                                                           | SLM Private Education Loan Trust 2010-C                                          | CUSIP: 78445QAE1<br>LEI: 549300JEA36NHBYED811 | Long             | ABS-O            | CORP              | US        |      53348 | PA      | $55852.05     | 0.02%             | 2041-10-15      | Floating      | 8.90%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                                 | SMB Private Education Loan Trust 2021-A                                          | CUSIP: 78448YAD3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     140076 | PA      | $136795.99    | 0.05%             | 2053-01-15      | Fixed         | 2.31%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                                 | SMB Private Education Loan Trust 2023-B                                          | CUSIP: 78449HAB3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     115211 | PA      | $117507.40    | 0.04%             | 2056-10-16      | Floating      | 6.03%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                                 | SMB Private Education Loan Trust 2021-D                                          | CUSIP: 78449MAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      92292 | PA      | $91476.96     | 0.03%             | 2053-03-17      | Floating      | 4.75%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                                 | SMB Private Education Loan Trust 2018-A                                          | CUSIP: 78449PAC3<br>LEI: 549300QHI21JZK7YIR34 | Long             | ABS-O            | CORP              | US        |      46384 | PA      | $46361.55     | 0.02%             | 2036-02-15      | Floating      | 4.95%                 | No            |                  2 | On Loan: No      |
| SLG Office Trust                                                                 | SLG Office Trust 2021-OVA                                                        | CUSIP: 78449RAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     425000 | PA      | $379139.57    | 0.13%             | 2041-07-15      | Fixed         | 2.59%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust                                                 | SMB Private Education Loan Trust                                                 | CUSIP: 78449XAA0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     113727 | PA      | $108275.19    | 0.04%             | 2053-07-15      | Fixed         | 1.29%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                                                     | SM Energy Co                                                                     | CUSIP: 78454LAP5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |      15000 | PA      | $15009.69     | 0.01%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| SM ENERGY CO                                                                     | SM Energy Co                                                                     | CUSIP: 78454LAX8<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |     100000 | PA      | $99791.13     | 0.04%             | 2029-08-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                                             | Sofi Professional Loan Program 2019-A LLC                                        | CUSIP: 78471HAC2<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |     130000 | PA      | $125116.81    | 0.04%             | 2048-06-15      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                                         | Sabine Pass Liquefaction LLC                                                     | CUSIP: 785592AS5<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |     529000 | PA      | $532047.47    | 0.19%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                                         | Sabine Pass Liquefaction LLC                                                     | CUSIP: 785592AV8<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |      12000 | PA      | $12027.65     | 0.00%             | 2026-06-30      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                                         | Sabine Pass Liquefaction LLC                                                     | CUSIP: 785592AX4<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |     560000 | PA      | $561986.58    | 0.20%             | 2030-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| SABINE PASS LIQUEFACTION                                                         | Sabine Pass Liquefaction LLC                                                     | CUSIP: 785592AZ9<br>LEI: 549300KJYBG7C6WJYZ11 | Long             | DBT              | CORP              | US        |     126411 | PA      | $132421.37    | 0.05%             | 2037-09-15      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| HalseyPoint CLO Ltd.                                                             | Sagard-Halseypoint Clo 8 Ltd                                                     | CUSIP: 78662AAA0<br>LEI: 254900W5MVYX9QDPHC09 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250720.40    | 0.09%             | 2038-01-30      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| HalseyPoint CLO Ltd.                                                             | Sagard-Halseypoint Clo 9 Ltd                                                     | CUSIP: 78662EAC8<br>LEI: 254900XOQCO9R6J0SO60 | Long             | ABS-CBDO         | CORP              | KY        |     400000 | PA      | $401381.04    | 0.14%             | 2038-04-20      | Floating      | 5.78%                 | No            |                  2 | On Loan: No      |
| HalseyPoint CLO Ltd.                                                             | Sagard-Halseypoint Clo 10 Ltd                                                    | CUSIP: 78663BAA7<br>LEI: 254900N7LSI0GVY3UO19 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250228.50    | 0.09%             | 2038-10-20      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                                          | Saluda Grade Alternative Mortgage Trust 2024-RTL4                                | CUSIP: 79584CAA9<br>LEI: 213800ETGZN4SIG56R83 | Long             | ABS-MBS          | CORP              | US        |     126000 | PA      | $126626.35    | 0.05%             | 2030-02-25      | Variable      | 7.50%                 | No            |                  2 | On Loan: No      |
| Saluda Grade Alternative Mortgage Trust                                          | Saluda Grade Alternative Mortgage Trust 2024-RTL5                                | CUSIP: 795935AA3<br>LEI: 213800ETGZN4SIG56R83 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100927.34    | 0.04%             | 2030-04-25      | Variable      | 7.76%                 | No            |                  2 | On Loan: No      |
| City of San Antonio TX Electric & Gas Systems Revenue                            | SAN ANTONIO TX ELEC & GAS REVENUE                                                | CUSIP: 796253Y30<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |      50000 | PA      | $52115.85     | 0.02%             | 2041-02-01      | Fixed         | 5.81%                 | No            |                  2 | On Loan: No      |
| Sand Trust                                                                       | Sandstone Peak II Ltd                                                            | CUSIP: 80013TAL7<br>LEI: 254900ZRRTOYR8JJD593 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250700.05    | 0.09%             | 2038-07-20      | Floating      | 5.29%                 | No            |                  2 | On Loan: No      |
| Santander Mortgage Asset Receivable Trust                                        | Santander Mortgage Asset Receivable Trust 2025-NQM3                              | CUSIP: 80263AAG6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     210000 | PA      | $211270.79    | 0.08%             | 2065-05-25      | Variable      | 7.24%                 | No            |                  2 | On Loan: No      |
| Saxon Asset Securities Trust                                                     | Saxon Asset Securities Trust 2004-2                                              | CUSIP: 805564QE4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     167429 | PA      | $129711.55    | 0.05%             | 2035-08-25      | Variable      | 2.07%                 | No            |                  2 | On Loan: No      |
| Saxon Asset Securities Trust                                                     | Saxon Asset Securities Trust 2007-1                                              | CUSIP: 80556BAF2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     211718 | PA      | $220639.00    | 0.08%             | 2047-01-25      | Floating      | 4.40%                 | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                                                            | Scotts Miracle-Gro Co/The                                                        | CUSIP: 810186AW6<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |      25000 | PA      | $23111.14     | 0.01%             | 2032-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SELF Commercial Mortgage Trust                                                   | SELF Commercial Mortgage Trust 2024-STRG                                         | CUSIP: 81631WAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     140000 | PA      | $139999.96    | 0.05%             | 2034-11-15      | Floating      | 5.57%                 | No            |                  2 | On Loan: No      |
| SELF Commercial Mortgage Trust                                                   | SELF Commercial Mortgage Trust 2024-STRG                                         | CUSIP: 81631WAJ5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100124.35    | 0.04%             | 2034-11-15      | Floating      | 8.22%                 | No            |                  2 | On Loan: No      |
| SENSATA TECH INC                                                                 | Sensata Technologies Inc                                                         | CUSIP: 81728UAA2<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |      25000 | PA      | $24107.42     | 0.01%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                                         | Service Properties Trust                                                         | CUSIP: 81761LAB8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |      17000 | PA      | $16558.32     | 0.01%             | 2027-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                                                         | Service Properties Trust                                                         | CUSIP: 81761LAD4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |      25000 | PA      | $24834.08     | 0.01%             | 2029-06-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| Shops at Crystals Trust 2016-CSTL                                                | Shops at Crystals Trust 2016-CSTL                                                | CUSIP: 82510WAJ9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     206000 | PA      | $203968.02    | 0.07%             | 2036-07-05      | Variable      | 3.73%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                                            | Silver Point CLO 8 Ltd                                                           | CUSIP: 827918AA1<br>LEI: 254900U97WKD6RJ07L38 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250311.85    | 0.09%             | 2038-04-15      | Floating      | 5.11%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                                            | Silver Point CLO 7 LTD                                                           | CUSIP: 82808UAA3<br>LEI: 254900UZNMKMPK9GWJ82 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250705.85    | 0.09%             | 2038-01-15      | Floating      | 5.26%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                                            | Silver Point Clo 5 Ltd                                                           | CUSIP: 82809BAA4<br>LEI: 254900IB4JHW6SUR0Q75 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250500.00    | 0.09%             | 2037-10-20      | Floating      | 5.28%                 | No            |                  2 | On Loan: No      |
| Silver Point CLO, Ltd                                                            | Silver Point CLO 13 Ltd                                                          | CUSIP: 82809RAA9<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250000.00    | 0.09%             | 2038-10-15      | Floating      | 0.00%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                                                              | Sirius XM Radio LLC                                                              | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |     100000 | PA      | $90729.03     | 0.03%             | 2031-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| SMB Private Education Loan Trust                                                 | SMB Private Education Loan Trust 2017-B                                          | CUSIP: 83189DAC4<br>LEI: 549300NWENTZ8X7JUC78 | Long             | ABS-O            | CORP              | US        |      35098 | PA      | $35093.88     | 0.01%             | 2035-10-15      | Floating      | 4.90%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                                             | SoFi Professional Loan Program 2020-C Trust                                      | CUSIP: 83390UAF4<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |      74846 | PA      | $70326.66     | 0.03%             | 2046-02-15      | Fixed         | 1.95%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                                             | Sofi Professional Loan Program 2019-C LLC                                        | CUSIP: 83401CAB0<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |      64442 | PA      | $62275.54     | 0.02%             | 2048-11-16      | Fixed         | 2.37%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                                             | Sofi Professional Loan Program 2019-C LLC                                        | CUSIP: 83401CAC8<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |     227000 | PA      | $204840.17    | 0.07%             | 2048-11-16      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC                                             | Sofi Professional Loan Program 2019-B LLC                                        | CUSIP: 83404WAB3<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |      68858 | PA      | $67624.11     | 0.02%             | 2048-08-17      | Fixed         | 3.09%                 | No            |                  2 | On Loan: No      |
| SOFI CONSUMER LOAN PROGRAM TRUST                                                 | SoFi Consumer Loan Program 2025-1 Trust                                          | CUSIP: 83406YAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     137861 | PA      | $138093.79    | 0.05%             | 2034-02-27      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                                                                   | Solventum Corp                                                                   | CUSIP: 83444MAP6<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |      78000 | PA      | $80669.99     | 0.03%             | 2029-03-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| SOLVENTUM CORP                                                                   | Solventum Corp                                                                   | CUSIP: 83444MAR2<br>LEI: 254900I70403OSGY4M28 | Long             | DBT              | CORP              | US        |     137000 | PA      | $142483.84    | 0.05%             | 2034-03-23      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| Soundview Home Equity Loan Trust                                                 | Soundview Home Loan Trust 2005-OPT3                                              | CUSIP: 83611MGX0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      46000 | PA      | $38667.93     | 0.01%             | 2035-11-25      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| Soundview Home Equity Loan Trust                                                 | Soundview Home Loan Trust 2007-NS1                                               | CUSIP: 83612QAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     148643 | PA      | $150695.79    | 0.05%             | 2037-01-25      | Floating      | 4.63%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                                      | Southern Co/The                                                                  | CUSIP: 842587CW5<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |      91000 | PA      | $85007.13     | 0.03%             | 2036-07-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                                      | Southern Co/The                                                                  | CUSIP: 842587DL8<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |      65000 | PA      | $68893.92     | 0.02%             | 2032-10-15      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| SOUTHERN CO                                                                      | Southern Co/The                                                                  | CUSIP: 842587EA1<br>LEI: 549300FC3G3YU2FBZD92 | Long             | DBT              | CORP              | US        |      61000 | PA      | $60397.52     | 0.02%             | 2035-03-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                                               | Expand Energy Corp                                                               | CUSIP: 845467AR0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     382000 | PA      | $382159.23    | 0.14%             | 2029-02-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                                               | Expand Energy Corp                                                               | CUSIP: 845467AS8<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     113000 | PA      | $114666.10    | 0.04%             | 2030-03-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                                               | Expand Energy Corp                                                               | CUSIP: 845467AT6<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     275000 | PA      | $269961.76    | 0.10%             | 2032-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Spruce Hill Mortgage Acquisition Company, LLC                                    | Spruce Hill Mortgage Loan Trust 2020-SH2                                         | CUSIP: 85214RAC7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      80184 | PA      | $78884.20     | 0.03%             | 2055-06-25      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                                        | Block Inc                                                                        | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     300000 | PA      | $279326.46    | 0.10%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                                                        | Block Inc                                                                        | CUSIP: 852234AT0<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |     100000 | PA      | $101510.90    | 0.04%             | 2030-08-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                                                         | Standard Industries Inc/NY                                                       | CUSIP: 853496AD9<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |      12000 | PA      | $11961.06     | 0.00%             | 2028-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| STAR 2025-SFR5 Trust                                                             | STAR 2025-SFR5 Trust                                                             | CUSIP: 85520CAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     350000 | PA      | $350220.71    | 0.12%             | 2042-02-17      | Floating      | 6.48%                 | No            |                  2 | On Loan: No      |
| STARWOOD PROPERTY TRUST                                                          | Starwood Property Trust Inc                                                      | CUSIP: 85571BBB0<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |      25000 | PA      | $26330.35     | 0.01%             | 2029-04-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                                                              | Station Casinos LLC                                                              | CUSIP: 857691AG4<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |      25000 | PA      | $24608.42     | 0.01%             | 2028-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC                                                                | Store Capital LLC                                                                | CUSIP: 862121AB6<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              |  | US        |     337000 | PA      | $334931.70    | 0.12%             | 2029-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| STORE CAPITAL LLC                                                                | Store Capital LLC                                                                | CUSIP: 862123AA4<br>LEI: 254900Z9PIEFQ6AYXK50 | Long             | DBT              |  | US        |      10000 | PA      | $10188.13     | 0.00%             | 2030-04-30      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| STREAM INNOVATIONS ISSUER TRUST                                                  | Stream Innovations 2025-1 Issuer Trust                                           | CUSIP: 86324XAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      99627 | PA      | $100387.05    | 0.04%             | 2045-09-15      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Structured Asset Securities Corporation                                          | Structured Asset Securities Corp Mortgage Loan Trust 2006-BC6                    | CUSIP: 86362VAA0<br>LEI: 549300164ZV2301BC703 | Long             | ABS-O            | CORP              | US        |      32377 | PA      | $30984.58     | 0.01%             | 2037-01-25      | Floating      | 4.43%                 | No            |                  2 | On Loan: No      |
| SUBWAY FUNDING LLC                                                               | Subway Funding LLC                                                               | CUSIP: 864300AC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      29700 | PA      | $30362.34     | 0.01%             | 2054-07-30      | Fixed         | 6.27%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                                                               | Energy Transfer LP                                                               | CUSIP: 86765BAV1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |      57000 | PA      | $51554.61     | 0.02%             | 2047-10-01      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| SUNOCO LP                                                                        | Sunoco LP                                                                        | CUSIP: 86765KAB5<br>LEI: 54930001NJU8E40NQ561 | Long             | DBT              | CORP              | US        |      50000 | PA      | $51974.10     | 0.02%             | 2029-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| SUZANO AUSTRIA GMBH                                                              | Suzano Austria GmbH                                                              | CUSIP: 86964WAK8<br>LEI: 254900287ZNSGVP1R341 | Long             | DBT              | CORP              | AT        |     229000 | PA      | $205172.55    | 0.07%             | 2032-01-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| Sycamore Tree CLO Ltd                                                            | Sycamore Tree CLO 2021-1 Ltd                                                     | CUSIP: 87122VAS0<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     310000 | PA      | $310898.63    | 0.11%             | 2038-01-20      | Floating      | 5.27%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                                              | Synchrony Financial                                                              | CUSIP: 87165BAM5<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     141000 | PA      | $139797.77    | 0.05%             | 2027-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                                              | Synchrony Financial                                                              | CUSIP: 87165BAP8<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     335000 | PA      | $340146.67    | 0.12%             | 2029-03-19      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                                              | Synchrony Financial                                                              | CUSIP: 87165BAR4<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     287000 | PA      | $254816.54    | 0.09%             | 2031-10-28      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                                              | Synchrony Financial                                                              | CUSIP: 87165BAU7<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     188000 | PA      | $199286.32    | 0.07%             | 2033-02-02      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| SYNCHRONY FINANCIAL                                                              | Synchrony Financial                                                              | CUSIP: 87165BAV5<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     283000 | PA      | $292755.49    | 0.10%             | 2030-08-02      | Fixed         | 5.94%                 | No            |                  2 | On Loan: —       |
| SYNCHRONY FINANCIAL                                                              | Synchrony Financial                                                              | CUSIP: 87165BAW3<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     338000 | PA      | $343822.14    | 0.12%             | 2031-03-06      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| SYNCHRONY FINANCIAL                                                              | Synchrony Financial                                                              | CUSIP: 87165BAX1<br>LEI: 549300RS7EWPM9MA6C78 | Long             | DBT              | CORP              | US        |     314000 | PA      | $316327.65    | 0.11%             | 2029-07-29      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| Symphony CLO Ltd                                                                 | Symphony CLO XXVI Ltd                                                            | CUSIP: 87190GAC5<br>LEI: N/A                  | Long             | ABS-CBDO         | CORP              | KY        |     148091 | PA      | $148117.32    | 0.05%             | 2033-04-20      | Floating      | 5.23%                 | No            |                  2 | On Loan: No      |
| THE 2023-MIC Trust                                                               | 2023-MIC Trust/THE                                                               | CUSIP: 87256GAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $10813.70     | 0.00%             | 2038-12-05      | Variable      | 8.44%                 | No            |                  2 | On Loan: No      |
| TKC HOLDINGS INC                                                                 | TKC Holdings Inc                                                                 | CUSIP: 87256YAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      45000 | PA      | $46276.88     | 0.02%             | 2029-05-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                 | CUSIP: 87264ABF1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     263000 | PA      | $257608.30    | 0.09%             | 2030-04-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                 | CUSIP: 87264ABX2<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |      16000 | PA      | $14087.65     | 0.01%             | 2031-11-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                 | CUSIP: 87264ABY0<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |      92000 | PA      | $62282.49     | 0.02%             | 2060-11-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                 | CUSIP: 87264ACQ6<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     122000 | PA      | $109179.40    | 0.04%             | 2032-03-15      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                 | CUSIP: 87264ACV5<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |      34000 | PA      | $35010.06     | 0.01%             | 2033-01-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| T-MOBILE USA INC                                                                 | T-Mobile USA Inc                                                                 | CUSIP: 87264ACX1<br>LEI: 549300V2JRLO5DIFGE82 | Long             | DBT              | CORP              | US        |     163000 | PA      | $162862.65    | 0.06%             | 2062-09-15      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                                                            | TRK 2021-INV2 Trust                                                              | CUSIP: 87267TAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     137000 | PA      | $115593.78    | 0.04%             | 2056-11-25      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| Taco Bell Funding, LLC                                                           | Taco Bell Funding LLC                                                            | CUSIP: 87342RAK0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     130000 | PA      | $129350.62    | 0.05%             | 2055-08-25      | Fixed         | 4.82%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                                                          | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAL5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      25000 | PA      | $25737.38     | 0.01%             | 2029-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                                             | Targa Resources Corp                                                             | CUSIP: 87612GAA9<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |      92000 | PA      | $87594.15     | 0.03%             | 2033-02-01      | Fixed         | 4.20%                 | No            |                  2 | On Loan: No      |
| TARGA RESOURCES CORP                                                             | Targa Resources Corp                                                             | CUSIP: 87612GAE1<br>LEI: 5493003QENHHS261UR94 | Long             | DBT              | CORP              | US        |     208000 | PA      | $218934.80    | 0.08%             | 2029-03-01      | Fixed         | 6.15%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                                                             | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAB8<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |      15000 | PA      | $15219.08     | 0.01%             | 2028-01-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TEAM HEALTH HOLDINGS INC                                                         | Team Health Holdings Inc                                                         | CUSIP: 87817AAB3<br>LEI: 549300PVTQ4UDTTMQT11 | Long             | DBT              | CORP              | US        |     100000 | PA      | $107875.00    | 0.04%             | 2028-06-30      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDH0<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |      16000 | PA      | $15935.88     | 0.01%             | 2028-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                                                            | Tenet Healthcare Corp                                                            | CUSIP: 88033GDM9<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     104000 | PA      | $101677.93    | 0.04%             | 2029-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| TENNECO INC                                                                      | Tenneco Inc                                                                      | CUSIP: 880349AU9<br>LEI: 549300U0EXXFAQFAD785 | Long             | DBT              | CORP              | US        |      25000 | PA      | $24931.79     | 0.01%             | 2028-11-17      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Terwin Mortgage Trust                                                            | Terwin Mortgage Trust Series TMTS 2005-10HE                                      | CUSIP: 881561VF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      24672 | PA      | $22986.74     | 0.01%             | 2036-06-25      | Floating      | 5.13%                 | No            |                  2 | On Loan: No      |
| State of Texas                                                                   | TEXAS ST                                                                         | CUSIP: 882722KF7<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |      70000 | PA      | $72902.51     | 0.03%             | 2039-04-01      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| TEXTRON INC                                                                      | Textron Inc                                                                      | CUSIP: 883203BY6<br>LEI: 3PPKBHUG1HD6BO7RNR87 | Long             | DBT              | CORP              | US        |      46000 | PA      | $45088.27     | 0.02%             | 2028-03-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CLOUD SOFTWARE GRP INC                                                           | Cloud Software Group Inc                                                         | CUSIP: 88632QAE3<br>LEI: 04EEB871XLHVNY4RZJ65 | Long             | DBT              | CORP              | US        |      59000 | PA      | $59445.33     | 0.02%             | 2029-03-31      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Toorak Mortgage Corp.                                                            | Toorak Mortgage Trust 2024-2                                                     | CUSIP: 89055KAA0<br>LEI: 254900ZRJRVK75Z6JJ57 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100384.78    | 0.04%             | 2031-10-25      | Variable      | 6.33%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                                    | TransDigm Inc                                                                    | CUSIP: 893647BP1<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      23000 | PA      | $22622.76     | 0.01%             | 2029-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                                    | TransDigm Inc                                                                    | CUSIP: 893647BR7<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      50000 | PA      | $50986.35     | 0.02%             | 2028-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                                                    | TransDigm Inc                                                                    | CUSIP: 893647BV8<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |      25000 | PA      | $25851.98     | 0.01%             | 2032-03-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| Trestles CLO LTD                                                                 | TRESTLES CLO 2017-1 Ltd                                                          | CUSIP: 89531FAY3<br>LEI: 254900QSBDX181YYBH38 | Long             | ABS-CBDO         | CORP              | KY        |     250000 | PA      | $250696.53    | 0.09%             | 2037-07-25      | Floating      | 5.32%                 | No            |                  2 | On Loan: No      |
| TRONOX INC                                                                       | Tronox Inc                                                                       | CUSIP: 897051AC2<br>LEI: 549300EPZ4YXC7E5P181 | Long             | DBT              | CORP              | US        |     100000 | PA      | $61477.82     | 0.02%             | 2029-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| Park Avenue Trust                                                                | 245 Park Avenue Trust 2017-245P                                                  | CUSIP: 90187LAN9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     145000 | PA      | $137558.95    | 0.05%             | 2037-06-05      | Variable      | 3.66%                 | No            |                  2 | On Loan: No      |
| UBS Commercial Mortgage Trust                                                    | UBS Commercial Mortgage Trust 2018-C15                                           | CUSIP: 90278LBC2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      71000 | PA      | $69011.38     | 0.02%             | 2051-12-15      | Variable      | 4.92%                 | No            |                  2 | On Loan: No      |
| UWM HOLDINGS LLC                                                                 | UWM Holdings LLC                                                                 | CUSIP: 903522AB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      14000 | PA      | $13974.81     | 0.00%             | 2031-03-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| UNITED AIRLINES INC                                                              | United Airlines Inc                                                              | CUSIP: 90932LAH0<br>LEI: K1OQBWM7XEOO08LDNP29 | Long             | DBT              | CORP              | US        |      22000 | PA      | $21789.26     | 0.01%             | 2029-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                                            | Mexico Government International Bonds                                            | CUSIP: 91087BAG5<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     200000 | PA      | $157000.00    | 0.06%             | 2050-01-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                                            | Mexico Government International Bonds                                            | CUSIP: 91087BAM2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     820000 | PA      | $734720.00    | 0.26%             | 2031-05-24      | Fixed         | 2.66%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                                            | Mexico Government International Bonds                                            | CUSIP: 91087BAR1<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     400000 | PA      | $348800.00    | 0.12%             | 2034-02-12      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                                            | Mexico Government International Bonds                                            | CUSIP: 91087BAT7<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     200000 | PA      | $194100.00    | 0.07%             | 2033-05-19      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                                            | Mexico Government International Bonds                                            | CUSIP: 91087BAV2<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     241000 | PA      | $254737.00    | 0.09%             | 2035-02-09      | Fixed         | 6.35%                 | No            |                  2 | On Loan: No      |
| Mexico Government International Bonds                                            | Mexico Government International Bonds                                            | CUSIP: 91087BBC3<br>LEI: 254900EGTWEU67VP6075 | Long             | DBT              | NUSS              | MX        |     224000 | PA      | $242368.00    | 0.09%             | 2037-05-13      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                                                          | United Rentals North America Inc                                                 | CUSIP: 911365BP8<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |     100000 | PA      | $93033.19     | 0.03%             | 2032-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810PW2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    3250000 | PA      | $3297988.27   | 1.17%             | 2038-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810SN9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     500000 | PA      | $248437.50    | 0.09%             | 2050-05-15      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810SQ2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1145400 | PA      | $728894.98    | 0.26%             | 2040-08-15      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810ST6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1145400 | PA      | $754576.99    | 0.27%             | 2040-11-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810TB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |        300 | PA      | $171.71       | 0.00%             | 2051-11-15      | Fixed         | 1.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810TH1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1470000 | PA      | $1245652.73   | 0.44%             | 2042-05-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810TL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |        300 | PA      | $268.11       | 0.00%             | 2052-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810TN8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     368700 | PA      | $307792.49    | 0.11%             | 2053-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810TQ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1782000 | PA      | $1631086.88   | 0.58%             | 2043-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810TR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     184600 | PA      | $153960.73    | 0.05%             | 2053-05-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810TW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     171000 | PA      | $174172.85    | 0.06%             | 2043-11-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810UD8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     825700 | PA      | $772835.85    | 0.28%             | 2044-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810UF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     115000 | PA      | $114860.74    | 0.04%             | 2044-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810UG1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     150000 | PA      | $148898.44    | 0.05%             | 2055-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Bonds                                                              | CUSIP: 912810UK2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     583000 | PA      | $590651.88    | 0.21%             | 2055-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 9128282R0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     203300 | PA      | $198535.16    | 0.07%             | 2027-08-15      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 912828U24<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     623000 | PA      | $612102.04    | 0.22%             | 2026-11-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 912828X88<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     203300 | PA      | $199480.18    | 0.07%             | 2027-05-15      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 912828Z94<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     236000 | PA      | $215930.78    | 0.08%             | 2030-02-15      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 912828ZS2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     823400 | PA      | $784352.82    | 0.28%             | 2027-05-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CAH4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     659000 | PA      | $623063.91    | 0.22%             | 2027-08-31      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CAL5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     453600 | PA      | $426862.41    | 0.15%             | 2027-09-30      | Fixed         | 0.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CBQ3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     277800 | PA      | $274759.75    | 0.10%             | 2026-02-28      | Fixed         | 0.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CBS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     257200 | PA      | $243385.55    | 0.09%             | 2028-03-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CCE9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     489000 | PA      | $460939.81    | 0.16%             | 2028-05-31      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CCF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     306000 | PA      | $300734.65    | 0.11%             | 2026-05-31      | Fixed         | 0.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CCP4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     885500 | PA      | $865195.76    | 0.31%             | 2026-07-31      | Fixed         | 0.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CCV1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     343000 | PA      | $320383.44    | 0.11%             | 2028-08-31      | Fixed         | 1.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CCY5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     174300 | PA      | $163072.63    | 0.06%             | 2028-09-30      | Fixed         | 1.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CDL2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1144000 | PA      | $1074108.75   | 0.38%             | 2028-11-30      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CEE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     601000 | PA      | $577006.95    | 0.21%             | 2029-03-31      | Fixed         | 2.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CEM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     514000 | PA      | $501310.63    | 0.18%             | 2029-04-30      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CEP2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      45000 | PA      | $42454.69     | 0.02%             | 2032-05-15      | Fixed         | 2.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CET4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     920000 | PA      | $905732.81    | 0.32%             | 2027-05-31      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CEV9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1048400 | PA      | $1034271.17   | 0.37%             | 2029-06-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CEW7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     859000 | PA      | $853866.13    | 0.30%             | 2027-06-30      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CFC0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1016000 | PA      | $979765.32    | 0.35%             | 2029-07-31      | Fixed         | 2.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CFF3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     678000 | PA      | $632605.78    | 0.23%             | 2032-08-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CFJ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     799900 | PA      | $784776.89    | 0.28%             | 2029-08-31      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CFM8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    2415000 | PA      | $2437734.95   | 0.87%             | 2027-09-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CFU0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     596000 | PA      | $601960.00    | 0.21%             | 2027-10-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CFW6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     249000 | PA      | $249034.65    | 0.09%             | 2025-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CFY2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     624000 | PA      | $628875.00    | 0.22%             | 2029-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CFZ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     914000 | PA      | $919034.14    | 0.33%             | 2027-11-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CGA3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     675100 | PA      | $675112.73    | 0.24%             | 2025-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CGJ4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     766800 | PA      | $761498.30    | 0.27%             | 2030-01-31      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CGP0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     615000 | PA      | $620477.34    | 0.22%             | 2028-02-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CGQ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    2849000 | PA      | $2885280.25   | 1.03%             | 2030-02-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CGR6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     498000 | PA      | $499427.86    | 0.18%             | 2026-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CHE4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1659300 | PA      | $1660531.52   | 0.59%             | 2028-05-31      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CHF1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     913000 | PA      | $915068.51    | 0.33%             | 2030-05-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CHM6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     983400 | PA      | $988148.94    | 0.35%             | 2026-07-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CJA0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     446000 | PA      | $458561.17    | 0.16%             | 2028-09-30      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CJG7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     860600 | PA      | $905613.42    | 0.32%             | 2030-10-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CJP7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     785100 | PA      | $790558.89    | 0.28%             | 2026-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CJR3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     721000 | PA      | $723788.24    | 0.26%             | 2028-12-31      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CJT9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     472500 | PA      | $474161.13    | 0.17%             | 2027-01-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CJV4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     345000 | PA      | $345271.78    | 0.12%             | 2026-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CJZ5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     919200 | PA      | $919810.40    | 0.33%             | 2034-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CKB6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      29000 | PA      | $29062.30     | 0.01%             | 2026-02-28      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CKE0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     472500 | PA      | $476154.49    | 0.17%             | 2027-03-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CKH3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     600000 | PA      | $601614.85    | 0.21%             | 2026-03-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CKJ9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1644000 | PA      | $1663394.07   | 0.59%             | 2027-04-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CKK6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     535000 | PA      | $537649.92    | 0.19%             | 2026-04-30      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CKR1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       8000 | PA      | $8100.62      | 0.00%             | 2027-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CKS9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      28000 | PA      | $28166.52     | 0.01%             | 2026-05-31      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CKV2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       4000 | PA      | $4061.88      | 0.00%             | 2027-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CKW0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     658000 | PA      | $673730.31    | 0.24%             | 2031-06-30      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CLB5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      30000 | PA      | $30126.86     | 0.01%             | 2026-07-31      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CLF6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       3000 | PA      | $2965.31      | 0.00%             | 2034-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CLL3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       1000 | PA      | $995.78       | 0.00%             | 2027-09-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CLM1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     969000 | PA      | $959915.63    | 0.34%             | 2031-09-30      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CLU3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      10000 | PA      | $10167.97     | 0.00%             | 2031-10-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CLW9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     303000 | PA      | $307592.34    | 0.11%             | 2034-11-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CMB4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      27000 | PA      | $27224.65     | 0.01%             | 2027-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CMC2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     262500 | PA      | $272148.93    | 0.10%             | 2031-12-31      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CME8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      21000 | PA      | $21123.87     | 0.01%             | 2026-12-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CMF5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      28000 | PA      | $28378.44     | 0.01%             | 2028-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CMG3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       1000 | PA      | $1022.23      | 0.00%             | 2030-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CMM0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      15000 | PA      | $15646.88     | 0.01%             | 2035-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CMP3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    1466000 | PA      | $1474360.77   | 0.52%             | 2027-02-28      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CMR9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      17000 | PA      | $17270.94     | 0.01%             | 2032-02-29      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CMT5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      18000 | PA      | $18281.95     | 0.01%             | 2032-03-31      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CMW8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      42000 | PA      | $42144.38     | 0.01%             | 2028-04-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CMZ1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       2000 | PA      | $2015.39      | 0.00%             | 2030-04-30      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Inflation-Indexed Notes                                            | CUSIP: 91282CNB3<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    2932838 | PA      | $2968562.56   | 1.06%             | 2030-04-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CNC1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |     134000 | PA      | $135800.63    | 0.05%             | 2035-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CND9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      29000 | PA      | $29106.48     | 0.01%             | 2028-05-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CNE7<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      70000 | PA      | $70246.09     | 0.02%             | 2027-05-31      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CNJ6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      58000 | PA      | $58450.86     | 0.02%             | 2032-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CNM9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |       7000 | PA      | $7048.67      | 0.00%             | 2028-07-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CNR8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      17000 | PA      | $17122.85     | 0.01%             | 2032-07-31      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| United States Treasury                                                           | U.S. Treasury Notes                                                              | CUSIP: 91282CPB1<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |      15000 | PA      | $14971.29     | 0.01%             | 2027-09-30      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                                                         | United Wholesale Mortgage LLC                                                    | CUSIP: 913229AA8<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |      25000 | PA      | $24621.10     | 0.01%             | 2029-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| UNITI GROUP/CSL CAPITAL                                                          | Uniti Group LP / Uniti Group Finance 2019 Inc / CSL Capital LLC                  | CUSIP: 91327BAB6<br>LEI: N/A                  | Long             | DBT              |  | US        |     100000 | PA      | $97738.66     | 0.03%             | 2028-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| University of California                                                         | UNIV OF CALIFORNIA REVENUES                                                      | CUSIP: 91412GHA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |      62000 | PA      | $53634.16     | 0.02%             | 2112-05-15      | Fixed         | 4.86%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                                                         | Univision Communications Inc                                                     | CUSIP: 914906BA9<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |     100000 | PA      | $105557.27    | 0.04%             | 2032-08-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| Upgrade Master Pass-Thru Trust                                                   | Upgrade Master Pass-Thru Trust Series 2025-ST7                                   | CUSIP: 91533RAA3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     101000 | PA      | $100955.13    | 0.04%             | 2032-11-15      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| UPX HIL 2025-1 Issuer Trust                                                      | UPX HIL 2025-1 Issuer Trust                                                      | CUSIP: 916925AA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     127164 | PA      | $127516.73    | 0.05%             | 2047-01-25      | Fixed         | 5.16%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                                                         | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAH1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       5000 | PA      | $5019.20      | 0.00%             | 2033-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                           | VCC 2025-MC1 Trust                                                               | CUSIP: 91825JAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      83062 | PA      | $82614.94     | 0.03%             | 2055-05-25      | Variable      | 8.16%                 | No            |                  2 | On Loan: No      |
| VALE OVERSEAS LIMITED                                                            | Vale Overseas Ltd                                                                | CUSIP: 91911TAS2<br>LEI: 254900BA3U6G5DNV5V04 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $208300.00    | 0.07%             | 2054-06-28      | Fixed         | 6.40%                 | No            |                  2 | On Loan: No      |
| VEGAS Trust                                                                      | VEGAS Trust 2024-TI                                                              | CUSIP: 92254AAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      10000 | PA      | $10121.27     | 0.00%             | 2039-11-10      | Fixed         | 5.52%                 | No            |                  2 | On Loan: No      |
| VEGAS Trust                                                                      | VEGAS 2024-GCS                                                                   | CUSIP: 92254BAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      40000 | PA      | $40256.02     | 0.01%             | 2036-07-10      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| VEGAS Trust                                                                      | VEGAS 2024-GCS                                                                   | CUSIP: 92254BAC9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $98943.87     | 0.04%             | 2036-07-10      | Variable      | 6.22%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                           | Velocity Commercial Capital Loan Trust 2020-1                                    | CUSIP: 92259LAB4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     127900 | PA      | $118955.80    | 0.04%             | 2050-02-25      | Variable      | 2.61%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                           | Velocity Commercial Capital Loan Trust 2024-6                                    | CUSIP: 92261BAF3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      99181 | PA      | $100199.69    | 0.04%             | 2054-12-25      | Variable      | 9.67%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                           | Velocity Commercial Capital Loan Trust 2024-1                                    | CUSIP: 92261CAA2<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      61601 | PA      | $62290.74     | 0.02%             | 2054-01-25      | Variable      | 6.55%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                           | Velocity Commercial Capital Loan Trust 2025-3                                    | CUSIP: 92262RAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     260769 | PA      | $263824.23    | 0.09%             | 2055-06-25      | Variable      | 5.87%                 | No            |                  2 | On Loan: No      |
| Velocity Commercial Capital Loan Trust                                           | Velocity Commercial Capital Loan Trust 2025-2                                    | CUSIP: 922969AA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     331392 | PA      | $333502.10    | 0.12%             | 2055-04-25      | Variable      | 5.67%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                                                         | Venture Global Calcasieu Pass LLC                                                | CUSIP: 92328MAA1<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |      17000 | PA      | $16103.97     | 0.01%             | 2029-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                           | Venture Global LNG Inc                                                           | CUSIP: 92332YAA9<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      23000 | PA      | $23692.88     | 0.01%             | 2028-06-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                           | Venture Global LNG Inc                                                           | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |      26000 | PA      | $26692.54     | 0.01%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                                                           | Venture Global LNG Inc                                                           | CUSIP: 92332YAD3<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |     105000 | PA      | $112155.96    | 0.04%             | 2032-02-01      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                           | Verizon Communications Inc                                                       | CUSIP: 92343VCQ5<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |      20000 | PA      | $19248.06     | 0.01%             | 2034-11-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                           | Verizon Communications Inc                                                       | CUSIP: 92343VGY4<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     125000 | PA      | $122478.26    | 0.04%             | 2035-02-15      | Fixed         | 4.78%                 | No            |                  2 | On Loan: No      |
| VERIZON COMMUNICATIONS                                                           | Verizon Communications Inc                                                       | CUSIP: 92343VHA5<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | DBT              | CORP              | US        |     112000 | PA      | $113366.08    | 0.04%             | 2037-07-02      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                       | Verus Securitization Trust 2024-7                                                | CUSIP: 924925AG5<br>LEI: 213800HQOHEFNJCQYJ07 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99681.26     | 0.04%             | 2069-09-25      | Variable      | 6.50%                 | No            |                  2 | On Loan: No      |
| VERSANT MEDIA GROUP INC                                                          | Versant Media Group Inc                                                          | CUSIP: 925283AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |       6000 | PA      | $6115.96      | 0.00%             | 2031-01-30      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                       | Verus Securitization Trust 2021-8                                                | CUSIP: 92538GAA0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      75177 | PA      | $69742.44     | 0.02%             | 2066-11-25      | Variable      | 1.82%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                       | Verus Securitization Trust 2023-3                                                | CUSIP: 92539GAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     200000 | PA      | $200386.38    | 0.07%             | 2068-03-25      | Variable      | 7.72%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                       | Verus Securitization Trust 2023-8                                                | CUSIP: 92540DAE5<br>LEI: 213800DTJD5UKJR53O34 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $101590.93    | 0.04%             | 2068-12-25      | Variable      | 8.08%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                       | Verus Securitization Trust 2025-5                                                | CUSIP: 92540XAA9<br>LEI: 213800Z7TIVJRAYLRV98 | Long             | ABS-MBS          | CORP              | US        |     110628 | PA      | $111313.97    | 0.04%             | 2070-06-25      | Variable      | 5.43%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                       | Verus Securitization Trust 2025-5                                                | CUSIP: 92540XAE1<br>LEI: 213800Z7TIVJRAYLRV98 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $100724.31    | 0.04%             | 2070-06-25      | Variable      | 7.06%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                       | Verus Securitization Trust 2025-6                                                | CUSIP: 92540YAA7<br>LEI: 213800KZO2G8SSFFDH61 | Long             | ABS-MBS          | CORP              | US        |     634462 | PA      | $638567.41    | 0.23%             | 2070-07-25      | Variable      | 5.42%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                                                       | Verus Securitization Trust 2025-R1                                               | CUSIP: 92541AAE0<br>LEI: 213800UBQ9UM61L7TB84 | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99068.67     | 0.04%             | 2065-05-25      | Variable      | 6.40%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                                                       | Viasat Inc                                                                       | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |      50000 | PA      | $49959.97     | 0.02%             | 2027-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| PARAMOUNT GLOBAL                                                                 | Paramount Global                                                                 | CUSIP: 92553PAP7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |      33000 | PA      | $24991.86     | 0.01%             | 2043-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                 | Paramount Global                                                                 | CUSIP: 92553PAU6<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |      75000 | PA      | $67396.04     | 0.02%             | 2043-09-01      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                 | Paramount Global                                                                 | CUSIP: 92553PBB7<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |      66000 | PA      | $64946.56     | 0.02%             | 2026-10-04      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                 | Paramount Global                                                                 | CUSIP: 92553PBC5<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     100000 | PA      | $98000.00     | 0.03%             | 2057-02-28      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| PARAMOUNT GLOBAL                                                                 | Paramount Global                                                                 | CUSIP: 92556HAB3<br>LEI: 5KYC8KF17ROCY24M3H09 | Long             | DBT              | CORP              | US        |     130000 | PA      | $127475.60    | 0.05%             | 2031-01-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                                                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAB1<br>LEI: N/A                  | Long             | DBT              |  | US        |     446000 | PA      | $442304.11    | 0.16%             | 2029-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                                                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAE5<br>LEI: N/A                  | Long             | DBT              |  | US        |     134000 | PA      | $129566.92    | 0.05%             | 2030-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES / NOTE                                                           | VICI Properties LP / VICI Note Co Inc                                            | CUSIP: 92564RAL9<br>LEI: N/A                  | Long             | DBT              |  | US        |     569000 | PA      | $555975.52    | 0.20%             | 2029-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                                               | VICI Properties LP                                                               | CUSIP: 925650AC7<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |      42000 | PA      | $42451.28     | 0.02%             | 2030-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                                               | VICI Properties LP                                                               | CUSIP: 925650AD5<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |      61000 | PA      | $61490.24     | 0.02%             | 2032-05-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VICI PROPERTIES LP                                                               | VICI Properties LP                                                               | CUSIP: 925650AH6<br>LEI: 254900X4QE7SGKQLLN38 | Long             | DBT              |  | US        |     290000 | PA      | $293629.18    | 0.10%             | 2031-11-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| VIKING CRUISES LTD                                                               | Viking Cruises Ltd                                                               | CUSIP: 92676XAF4<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |      24000 | PA      | $24135.74     | 0.01%             | 2029-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| EXPAND ENERGY CORP                                                               | Expand Energy Corp                                                               | CUSIP: 92735LAA0<br>LEI: X2MT1W32SPAZ9WSKLE78 | Long             | DBT              | CORP              | US        |     143000 | PA      | $144167.72    | 0.05%             | 2029-04-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VNOM SUB INC                                                                     | Vnom Sub Inc                                                                     | CUSIP: 92763MAA3<br>LEI: 5299009LINL232255G03 | Long             | DBT              | CORP              | US        |     298000 | PA      | $298000.00    | 0.11%             | 2027-11-01      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| VIPER ENERGY PARTNERS LL                                                         | Viper Energy Partners LLC                                                        | CUSIP: 92764MAA2<br>LEI: 54930010ZZ02MRGRI973 | Long             | DBT              | CORP              | US        |     243000 | PA      | $244698.57    | 0.09%             | 2030-08-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| VIPER ENERGY PARTNERS LL                                                         | Viper Energy Partners LLC                                                        | CUSIP: 92764MAB0<br>LEI: 54930010ZZ02MRGRI973 | Long             | DBT              | CORP              | US        |     313000 | PA      | $319145.76    | 0.11%             | 2035-08-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| Visio Trust                                                                      | Visio 2022-1 Trust                                                               | CUSIP: 92838CAE8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $99547.85     | 0.04%             | 2057-08-25      | Variable      | 5.95%                 | No            |                  2 | On Loan: No      |
| Vista Point Securitization Trust                                                 | Vista Point Securitization Trust 2020-2                                          | CUSIP: 92838TAF8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $97417.30     | 0.03%             | 2065-04-25      | Variable      | 5.16%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                                                      | Vistra Operations Co LLC                                                         | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      16000 | PA      | $16008.66     | 0.01%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     100000 | PA      | $106123.40    | 0.04%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAQ5<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     271000 | PA      | $301434.80    | 0.11%             | 2033-10-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAS1<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     136000 | PA      | $142654.07    | 0.05%             | 2034-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAT9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     788000 | PA      | $793412.77    | 0.28%             | 2026-12-30      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAU6<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |     485000 | PA      | $498165.81    | 0.18%             | 2034-12-30      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                                                         | Vistra Operations Co LLC                                                         | CUSIP: 92840VAV4<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |      55000 | PA      | $54645.77     | 0.02%             | 2030-10-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: No      |
| VOLTAGRID LLC                                                                    | VoltaGrid LLC                                                                    | CUSIP: 92874BAA3<br>LEI: 254900R5BEUGIKK1FM03 | Long             | DBT              | CORP              | US        |      27000 | PA      | $27460.40     | 0.01%             | 2030-11-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| Voya CLO Ltd                                                                     | Voya CLO 2013-2 Ltd                                                              | CUSIP: 92916WAA7<br>LEI: 5493007ASGBOUR3XJY69 | Long             | ABS-CBDO         | CORP              | KY        |      76223 | PA      | $76220.73     | 0.03%             | 2031-04-25      | Floating      | 5.09%                 | No            |                  2 | On Loan: No      |
| WHARF Commercial Mortgage Trust                                                  | WHARF Commercial Mortgage Trust 2025-DC                                          | CUSIP: 92987LAL1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     100000 | PA      | $102450.86    | 0.04%             | 2040-07-15      | Variable      | 7.72%                 | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS                                                             | BlackRock Cash Funds: Treasury, SL Agency Shares                                 | CUSIP: 066922477<br>LEI: N/A                  | Long             | STIV             | RF                | US        |    8545740 | NS      | $8550012.42   | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| WAMU Mortgage Pass-Through Certificates                                          | WaMu Mortgage Pass-Through Certificates Series 2007-OA5 Trust                    | CUSIP: 93364BAC4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     103663 | PA      | $87699.16     | 0.03%             | 2047-06-25      | Floating      | 4.91%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Asset-Backed CTFS                                              | Washington Mutural Asset-Backed Certificates WMABS Series 2007-HE1 Trust         | CUSIP: 93935KAB6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      12277 | PA      | $3840.60      | 0.00%             | 2036-11-25      | Floating      | 3.62%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Asset-Backed CTFS                                              | Washington Mutural Asset-Backed Certificates WMABS Series 2007-HE1 Trust         | CUSIP: 93935KAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     109091 | PA      | $34261.61     | 0.01%             | 2036-11-25      | Floating      | 3.62%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS                                     | Washington Mutual Mortgage Pass-Through Certificates WMALT Series 2007-OA1 Trust | CUSIP: 93935NAB0<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     119306 | PA      | $98798.99     | 0.04%             | 2046-12-25      | Floating      | 4.83%                 | No            |                  2 | On Loan: No      |
| Washington Mutual Mortgage Pass-Through CTFS                                     | Washington Mutual Mortgage Pass-Through Certificates WMALT Ser 2006-AR10 Trust   | CUSIP: 93935YAB6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     213278 | PA      | $178527.06    | 0.06%             | 2036-12-25      | Floating      | 4.45%                 | No            |                  2 | On Loan: No      |
| WEATHERFORD INTERNATIONA                                                         | Weatherford International Ltd                                                    | CUSIP: 947075AU1<br>LEI: 549300A2JKMG5PGOGF82 | Long             | DBT              | CORP              | BM        |      36000 | PA      | $36712.62     | 0.01%             | 2030-04-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 94974BGK0<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      21000 | PA      | $17227.48     | 0.01%             | 2045-05-01      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                            | Wells Fargo Commercial Mortgage Trust 2015-C31                                   | CUSIP: 94989WAY3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      80000 | PA      | $79745.19     | 0.03%             | 2048-11-15      | Variable      | 4.48%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                            | Wells Fargo Commercial Mortgage Trust 2016-C33                                   | CUSIP: 95000LBB8<br>LEI: 549300JPCJUA5JJLRW54 | Long             | ABS-MBS          | CORP              | US        |     150000 | PA      | $149098.64    | 0.05%             | 2059-03-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U2U6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      77000 | PA      | $71788.92     | 0.03%             | 2033-03-02      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U2Z5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      44000 | PA      | $38615.03     | 0.01%             | 2053-04-25      | Fixed         | 4.61%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U3B7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      41000 | PA      | $41619.04     | 0.01%             | 2033-07-25      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U3D3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     248000 | PA      | $257567.06    | 0.09%             | 2034-04-24      | Fixed         | 5.39%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U3K7<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      19000 | PA      | $19834.17     | 0.01%             | 2035-01-23      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U3L5<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      44000 | PA      | $44963.67     | 0.02%             | 2028-04-22      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U3N1<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      36000 | PA      | $36818.78     | 0.01%             | 2035-12-03      | Fixed         | 5.21%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U3P6<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     167000 | PA      | $172841.97    | 0.06%             | 2031-01-24      | Fixed         | 5.24%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 95000U3V3<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |      62000 | PA      | $65153.85     | 0.02%             | 2036-04-23      | Fixed         | 5.61%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                            | WELLS FARGO COMMERCIAL MORTGAG                                                   | CUSIP: 95004AAC7<br>LEI: 54930012YCNUERXJ1I74 | Long             | ABS-MBS          | CORP              | US        |     153000 | PA      | $1286.16      | 0.00%             | 2043-07-15      | Variable      | 0.09%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                            | Wells Fargo Commercial Mortgage Trust 2024-BPRC                                  | CUSIP: 95004AAE3<br>LEI: 54930012YCNUERXJ1I74 | Long             | ABS-MBS          | CORP              | US        |     219000 | PA      | $226086.65    | 0.08%             | 2043-07-15      | Fixed         | 6.22%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                            | Wells Fargo Commercial Mortgage Trust 2024-BPRC                                  | CUSIP: 95004AAG8<br>LEI: 54930012YCNUERXJ1I74 | Long             | ABS-MBS          | CORP              | US        |      12000 | PA      | $12127.72     | 0.00%             | 2043-07-15      | Fixed         | 6.43%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Commercial Mortgage Trust                                            | Wells Fargo Commercial Mortgage Trust 2024-BPRC                                  | CUSIP: 95004AAJ2<br>LEI: 54930012YCNUERXJ1I74 | Long             | ABS-MBS          | CORP              | US        |      17000 | PA      | $17146.81     | 0.01%             | 2043-07-15      | Fixed         | 7.08%                 | No            |                  2 | On Loan: No      |
| Westways Funding Ltd                                                             | WEST Trust 2025-ROSE                                                             | CUSIP: 955909AA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     108000 | PA      | $109662.64    | 0.04%             | 2035-04-10      | Variable      | 5.28%                 | No            |                  2 | On Loan: No      |
| WINDSTREAM SERVICES LLC                                                          | Windstream Services LLC                                                          | CUSIP: 97382BAB5<br>LEI: 549300KT9GVEBYCD2N29 | Long             | DBT              | CORP              | US        |       5000 | PA      | $4990.95      | 0.00%             | 2033-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES                                   | BlackRock Cash Funds: Treasury, SL Agency Shares                                 | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |     100000 | NS      | $100000.00    | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                                                         | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                             | CUSIP: 983133AA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |      16000 | PA      | $15995.52     | 0.01%             | 2029-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                                                           | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |     100000 | PA      | $104627.70    | 0.04%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| YUM! BRANDS INC                                                                  | Yum! Brands Inc                                                                  | CUSIP: 988498AL5<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |      29000 | PA      | $28927.47     | 0.01%             | 2030-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                                         | Republic of South Africa Government Bond                                         | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    3687000 | PA      | $200243.94    | 0.07%             | 2037-01-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                                         | Brazil Notas do Tesouro Nacional Serie F                                         | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |    2000000 | PA      | $343726.03    | 0.12%             | 2029-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| KazMunayGas National Co. JSC                                                     | KazMunayGas National Co. JSC                                                     | CUSIP: 000000000<br>LEI: 2138001H1M69RFJCSH88 | Long             | DBT              | CORP              | KZ        |     200000 | PA      | $201270.00    | 0.07%             | 2048-10-24      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| TITULOS DE TESORERIA                                                             | Colombian TES                                                                    | CUSIP: 000000000<br>LEI: 549300MHDRBVRF6B9117 | Long             | DBT              | NUSS              | CO        | 3004200000 | PA      | $528264.24    | 0.19%             | 2036-07-09      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| American Tower Corp.                                                             | American Tower Corp.                                                             | CUSIP: 000000000<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              |  | US        |          0 | PA      | $0.00         | 0.00%             | 2031-05-16      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| NOTA DO TESOURO NACIONAL                                                         | Brazil Notas do Tesouro Nacional Serie F                                         | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |   10698000 | PA      | $1626574.05   | 0.58%             | 2035-01-01      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| LETRA TESOURO NACIONAL                                                           | Brazil Letras do Tesouro Nacional                                                | CUSIP: 000000000<br>LEI: 254900ZFY40OYEADAP90 | Long             | DBT              | NUSS              | BR        |     395000 | PA      | $69434.60     | 0.02%             | 2026-04-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| IRB INFRASTRUCTURE DEVE                                                          | IRB INFRASTRUCTURE DEVE                                                          | CUSIP: 000000000<br>LEI: 335800XGO3AITGW6AK27 | Long             | DBT              | CORP              | IN        |     200000 | PA      | $208060.00    | 0.07%             | 2032-03-11      | Fixed         | 7.11%                 | No            |                  2 | On Loan: No      |
| MVM ENERGETIKA ZRT                                                               | MVM Energetika Zrt                                                               | CUSIP: 000000000<br>LEI: 529900ELI5AQ9F74PF85 | Long             | DBT              | CORP              | HU        |     200000 | PA      | $212000.00    | 0.08%             | 2031-03-13      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| WELLS FARGO & COMPANY                                                            | Wells Fargo & Co                                                                 | CUSIP: 000000000<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | DBT              | CORP              | US        |     200000 | PA      | $239235.82    | 0.09%             | 2032-07-22      | Fixed         | 3.90%                 | No            |                  2 | On Loan: No      |
| GREENSAIF PIPELINES BIDC                                                         | Greensaif Pipelines Bidco Sarl                                                   | CUSIP: 000000000<br>LEI: 549300YWDGUXPB8GRP47 | Long             | DBT              | CORP              | LU        |     200000 | PA      | $210275.00    | 0.07%             | 2036-02-23      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF SOUTH AFRICA                                                         | Republic of South Africa Government Bond                                         | CUSIP: 000000000<br>LEI: 378900AAFB4F17004C49 | Long             | DBT              | NUSS              | ZA        |    3994000 | PA      | $249322.31    | 0.09%             | 2033-03-31      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| PETROLEOS MEXICANOS                                                              | PETROLEOS MEXICANOS                                                              | CUSIP: 000000000<br>LEI: 549300CAZKPF4HKMPX17 | Long             | DBT              | CORP              | MX        |     200000 | PA      | $199000.00    | 0.07%             | 2026-03-31      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| ORLEN SA                                                                         | ORLEN SA                                                                         | CUSIP: 000000000<br>LEI: 259400VVMM70CQREJT74 | Long             | DBT              | CORP              | PL        |     200000 | PA      | $210500.00    | 0.07%             | 2035-01-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| KASPI.KZ JSC                                                                     | JSC Kaspi.kz                                                                     | CUSIP: 000000000<br>LEI: 2549003YU6FARG8OAZ13 | Long             | DBT              | CORP              | KZ        |     200000 | PA      | $205392.00    | 0.07%             | 2030-03-26      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| MORGAN STANLEY                                                                   | Morgan Stanley                                                                   | CUSIP: 000000000<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |     200000 | PA      | $240049.64    | 0.09%             | 2036-05-22      | Fixed         | 4.10%                 | No            |                  2 | On Loan: No      |
| CITIGROUP INC                                                                    | Citigroup Inc                                                                    | CUSIP: 000000000<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |     200000 | PA      | $239181.49    | 0.09%             | 2036-04-29      | Fixed         | 4.11%                 | No            |                  2 | On Loan: No      |
| CHINA GOVERNMENT BOND                                                            | China Government Bond                                                            | CUSIP: 000000000<br>LEI: 300300CHN201808MOF68 | Long             | DBT              | NUSS              | CN        |      30000 | PA      | $4068.18      | 0.00%             | 2045-07-15      | Fixed         | 1.92%                 | No            |                  2 | On Loan: No      |
| BRENNTAG FINANCE BV                                                              | Brenntag Finance BV                                                              | CUSIP: 000000000<br>LEI: 724500LOJA6NM43PH951 | Long             | DBT              | CORP              | NL        |     200000 | PA      | $229706.73    | 0.08%             | 2031-10-02      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| HEINEKEN NV                                                                      | Heineken NV                                                                      | CUSIP: 000000000<br>LEI: 724500K5PTPSST86UQ23 | Long             | DBT              | CORP              | NL        |     110000 | PA      | $128341.03    | 0.05%             | 2034-05-03      | Fixed         | 3.51%                 | No            |                  2 | On Loan: No      |
| GLENCORE CAP FIN DAC                                                             | Glencore Capital Finance DAC                                                     | CUSIP: 000000000<br>LEI: 213800HCUCI1HC7X6Q34 | Long             | DBT              | CORP              | IE        |     200000 | PA      | $231669.98    | 0.08%             | 2032-10-06      | Fixed         | 3.67%                 | No            |                  2 | On Loan: No      |
| Eurex Deutschland                                                                | EURO-BOBL FUTURE DEC25                                                           | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         -6 | NC      | $-1112.22     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                           | US 10YR NOTE (CBT)DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         29 | NC      | $-16269.67    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Eurex Deutschland                                                                | EURO-BUXL 30Y BND DEC25                                                          | CUSIP: 000000000<br>LEI: 529900LN3S50JPU47S06 | N/A              | DIR              |  | DE        |         -1 | NC      | $-2006.73     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                           | US 10YR ULTRA FUT DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -25 | NC      | $5023.92      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                           | US ULTRA BOND CBT DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         96 | NC      | $171551.62    | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                           | US LONG BOND(CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |         56 | NC      | $-16858.25    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                           | US 2YR NOTE (CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        -26 | NC      | $6437.63      | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| ASX Clear (Futures)                                                              | AUST 10Y BOND FUT DEC25                                                          | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DIR              |  | AU        |         14 | NC      | $-3714.05     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Chicago Board of Trade                                                           | US 5YR NOTE (CBT) DEC25                                                          | CUSIP: 000000000<br>LEI: 549300EX04Q2QBFQTQ27 | N/A              | DIR              |  | US        |        263 | NC      | $-87586.02    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ASX Clear (Futures)                                                              | AUST 3YR BOND FUT DEC25                                                          | CUSIP: 000000000<br>LEI: 549300ZD7BBOVZFVHK49 | N/A              | DIR              |  | AU        |         40 | NC      | $-4390.88     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.                                                           | ISHARES IBOXX HIGH YIELD COR                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -243 | NC      | $-2916.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| DP WORLD LTD UAE                                                                 | DP World Ltd/United Arab Emirates                                                | CUSIP: 000000000<br>LEI: 549300M3U2DNF4QVSS04 | Long             | DBT              | CORP              | AE        |     180000 | PA      | $207000.00    | 0.07%             | 2037-07-02      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| WORLDLINE SA/FRANCE                                                              | Worldline SA/France                                                              | CUSIP: 000000000<br>LEI: 549300CJMQNCA0U4TS33 | Long             | DBT              | CORP              | FR        |     100000 | PA      | $99961.85     | 0.04%             | 2027-06-30      | Fixed         | 0.88%                 | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.536250 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     389000 | OU      | $1561.05      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.691250 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |      75000 | OU      | $237.73       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.531250 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     239000 | OU      | $1017.97      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.687500 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     125000 | OU      | $420.23       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | FSWP: OIS 3.793700 16-MAY-2026 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    3452000 | OU      | $10175.67     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | FSWP: OIS 3.790300 16-MAY-2026 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    1139160 | OU      | $-3395.19     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | FSWP: OIS 3.789800 16-MAY-2026 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    2312840 | OU      | $-6904.85     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 0.997500 12-MAR-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  244490248 | OU      | $-1549.20     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 1.026500 12-MAR-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  658313041 | OU      | $-5396.49     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 1.018460 12-MAR-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  554283841 | OU      | $-4257.73     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | FSWP: OIS 3.814000 16-MAY-2026 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    2649000 | OU      | $7266.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | FSWP: OIS 3.912800 16-MAY-2026 SOF                                               | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    2649000 | OU      | $-4646.03     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.833750 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     154000 | OU      | $-639.19      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.687500 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     892000 | OU      | $-3086.93     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.685000 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     497000 | OU      | $-1658.39     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.835500 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |      77000 | OU      | $-326.54      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.835000 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |      77000 | OU      | $-324.55      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.684000 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     246000 | OU      | $-808.66      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.723500 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     492000 | OU      | $-2581.05     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.869500 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     154000 | OU      | $-922.99      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.669500 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     322000 | OU      | $-827.20      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.832000 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     164000 | OU      | $-665.91      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.648000 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     328245 | OU      | $-493.89      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 0.683000 21-APR-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  244723924 | OU      | $4007.45      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 0.685000 21-APR-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  247584906 | OU      | $4022.56      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 0.698000 11-MAY-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  195427019 | OU      | $3250.70      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.789500 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     229000 | OU      | $-428.93      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.641000 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     492000 | OU      | $-569.88      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 0.801200 21-APR-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  130000000 | OU      | $1143.86      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.734500 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     210000 | OU      | $199.97       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.561500 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     530000 | OU      | $1467.24      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.562200 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     280000 | OU      | $765.48       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.727200 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |      82000 | OU      | $108.80       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 0.847700 21-APR-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  250000000 | OU      | $1454.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.429000 15-APR-2030 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     322500 | OU      | $1429.34      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.428000 15-APR-2030 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     654675 | OU      | $2932.58      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 0.785150 11-MAY-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  125000000 | OU      | $1381.37      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.519700 15-APR-2030 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     200000 | OU      | $25.57        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.760700 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     137000 | OU      | $-53.82       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.619200 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     450000 | OU      | $-36.15       | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 0.855000 02-JUL-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  275000000 | OU      | $2641.01      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 0.789820 11-MAY-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  275000000 | OU      | $2956.74      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.689000 17-JUL-2030 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |    1562000 | OU      | $-8158.08     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.702000 22-JUL-2030 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     682000 | OU      | $-3941.87     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.284000 15-JUL-2027 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     721200 | OU      | $557.63       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.409000 15-JUL-2029 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     721200 | OU      | $-3176.84     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.394000 15-JUL-2030 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     314700 | OU      | $-3424.64     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.243967 15-JUL-2035 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     314700 | OU      | $6009.81      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.241940 15-JUL-2035 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     320994 | OU      | $6051.71      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.422000 15-JUL-2029 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     735624 | OU      | $-3729.00     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.404000 15-JUL-2030 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     320994 | OU      | $-3697.18     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.304000 15-JUL-2027 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     735624 | OU      | $945.05       | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.316500 15-JUL-2027 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |    1441006 | OU      | $2311.99      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.427200 15-JUL-2029 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |    1441006 | OU      | $-7687.65     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.406500 15-JUL-2030 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     628792 | OU      | $-7342.33     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.240900 15-JUL-2035 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     628792 | OU      | $11775.98     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.272900 15-JUL-2035 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     308400 | OU      | $6964.61      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.428900 15-JUL-2027 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     706763 | OU      | $3167.16      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.491500 15-JUL-2029 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     706763 | OU      | $-6095.45     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.457000 15-JUL-2030 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     308400 | OU      | $-4592.45     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.255300 15-AUG-2027 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |    1203407 | OU      | $2834.58      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.368700 15-AUG-2029 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |    1203407 | OU      | $-4993.23     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.202850 15-AUG-2035 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     525114 | OU      | $8424.38      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 3.347900 15-AUG-2030 UKR                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     525114 | OU      | $-5577.92     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: JPY 2.036250 12-AUG-2045 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   22450400 | OU      | $-2174.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: JPY 1.298750 13-AUG-2035 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   40070160 | OU      | $3764.38      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: JPY 1.298000 13-AUG-2035 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   40311814 | OU      | $3805.33      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: JPY 2.036000 12-AUG-2045 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   22578485 | OU      | $-2192.80     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: JPY 1.292000 13-AUG-2035 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   22362026 | OU      | $2192.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: JPY 2.030000 12-AUG-2045 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |   14051115 | OU      | $-1456.67     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.879000 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     136000 | OU      | $-881.77      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.750500 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |     426000 | OU      | $-2805.94     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.631500 09-SEP-2030 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |    1567000 | OU      | $-5626.92     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: JPY 1.007000 11-SEP-2027 FTO                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  193480000 | OU      | $-670.14      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.576000 15-APR-2029 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |    1700000 | OU      | $-3490.28     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.628000 15-APR-2028 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |    1620000 | OU      | $-10377.59    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                                | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DE               |  | US        |     404100 | OU      | $1252.13      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                                | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DE               |  | US        |    1132880 | OU      | $1938.67      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: IFS 2.609300 06-OCT-2030 USC                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DO               |  | US        |    2200000 | OU      | $6465.57      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | SWP: OIS 3.930000 08-OCT-2045 SOF                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |     965000 | OU      | $-7019.21     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Chicago Mercantile Exchange                                                      | SWP: OIS 3.970000 08-OCT-2055 SOF                                                | CUSIP: 000000000<br>LEI: SNZ2OJLFK8MNNCLQOF39 | N/A              | DIR              |  | US        |    1030000 | OU      | $3630.45      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | SWP: JPY 2.517500 06-OCT-2055 FTO                                                | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  136200000 | OU      | $11539.55     | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                                               | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DE               |  | US        |    2623725 | OU      | $6884.19      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                                               | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DE               |  | US        |    2665410 | OU      | $3765.79      | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| MORGAN STANLEY & CO. INTERNATIONAL                                               | TRSWAP: HYG US EQUITY                                                            | CUSIP: 000000000<br>LEI: 4PQUHN3JPFGFNF3BB653 | N/A              | DE               |  | US        |    2759780 | OU      | $-12005.78    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| LCH Ltd.                                                                         | FSWP: KRW 2.690000 17-DEC-2028 KRW                                               | CUSIP: 000000000<br>LEI: F226TOH6YD6XJB17KS62 | N/A              | DIR              |  | US        |  373002584 | OU      | $95.10        | 0.00%             |  |  |  | No            |                  2 | On Loan: No      |
| BIOCON BIOLOGICS GLOBAL                                                          | Biocon Biologics Global PLC                                                      | CUSIP: 000000000<br>LEI: 254900PMQN51VACG2D55 | Long             | DBT              | CORP              | GB        |     200000 | PA      | $197555.00    | 0.07%             | 2029-10-09      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                                                            | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |     400000 | PA      | $399400.00    | 0.14%             | 2028-07-21      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD                                                           | MGM China Holdings Ltd                                                           | CUSIP: 000000000<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $211623.94    | 0.08%             | 2031-06-26      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| STAR ENERGY GEOTHERMAL                                                           | Star Energy Geothermal Wayang Windu Ltd                                          | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | VG        |     127500 | PA      | $131723.44    | 0.05%             | 2033-04-24      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY FINANCE LTD                                                          | Studio City Finance Ltd                                                          | CUSIP: 000000000<br>LEI: 254900D6R731QAUIG324 | Long             | DBT              | CORP              | VG        |     200000 | PA      | $191380.00    | 0.07%             | 2029-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WYNN MACAU LTD                                                                   | Wynn Macau Ltd                                                                   | CUSIP: 000000000<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |     200000 | PA      | $199700.00    | 0.07%             | 2028-08-26      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                                                                | Rakuten Group Inc                                                                | CUSIP: 000000000<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |     200000 | PA      | $224325.96    | 0.08%             | 2029-04-15      | Fixed         | 9.75%                 | No            |                  2 | On Loan: No      |
| MINEJESA CAPITAL BV                                                              | Minejesa Capital BV                                                              | CUSIP: 000000000<br>LEI: 549300KS7ERCP10BKC35 | Long             | DBT              | CORP              | NL        |     216000 | PA      | $215244.00    | 0.08%             | 2037-08-10      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| MONG DUONG FIN HLDGS BV                                                          | Mong Duong Finance Holdings BV                                                   | CUSIP: 000000000<br>LEI: 549300995KGQFMWSV879 | Long             | DBT              | CORP              | NL        |     169400 | PA      | $167350.42    | 0.06%             | 2029-05-07      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| PROSUS NV                                                                        | Prosus NV                                                                        | CUSIP: 000000000<br>LEI: 635400Z5LQ5F9OLVT688 | Long             | DBT              | CORP              | NL        |     413000 | PA      | $397256.44    | 0.14%             | 2032-01-19      | Fixed         | 4.19%                 | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                                | 10Y RTR 3.300000 30-DEC-2025                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |   -1497000 | OU      | $-2145.90     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| BARCLAYS BANK PLC                                                                | 10Y RTP 4.000000 30-DEC-2025                                                     | CUSIP: 000000000<br>LEI: G5GSEF7VJP5I7OUK5573 | N/A              | DIR              |  | US        |   -1497000 | OU      | $-2365.36     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                                      | 2Y RTP 4.300000 20-SEP-2027                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |  -11936000 | OU      | $-31405.88    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                                      | 2Y RTP 4.050000 04-OCT-2027                                                      | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | US        |  -15959000 | OU      | $-58298.71    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS INTERNATIONAL                                                      | 10Y RTR 3.200000 14-JAN-2026                                                     | CUSIP: 000000000<br>LEI: W22LROWP2IHZNBB6K528 | N/A              | DIR              |  | KY        |   -2948000 | OU      | $-3813.83     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                                      | 10Y RTR 3.390000 15-DEC-2025                                                     | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |   -2970000 | OU      | $-4431.92     | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| CITIBANK NA                                                                      | BYDTGCZE6 BLACKROCK                                                              | CUSIP: 000000000<br>LEI: E57ODZWZ7FF32TWEFA76 | N/A              | DIR              |  | US        |   -2087000 | OU      | $-16257.19    | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                                               | BYDTTSTX2 BLACKROCK                                                              | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |    2396000 | OU      | $28071.99     | 0.01%             |  |  |  | No            |                  2 | On Loan: No      |
| BANK OF AMERICA NA                                                               | BYDTTSTY0 BLACKROCK                                                              | CUSIP: 000000000<br>LEI: B4TYDEB6GKMZO031MB27 | N/A              | DIR              |  | US        |   -2396000 | OU      | $-10932.52    | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| Corp. Nacional del Cobre de Chile                                                | Corp. Nacional del Cobre de Chile                                                | CUSIP: 000000000<br>LEI: 549300UVMBCBCIPSUI70 | Long             | DBT              | CORP              | CL        |     200000 | PA      | $217675.00    | 0.08%             | 2036-01-26      | Fixed         | 6.44%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                                                 | Peruvian Government International Bond                                           | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     504000 | PA      | $163203.03    | 0.06%             | 2039-08-12      | Fixed         | 7.60%                 | No            |                  2 | On Loan: No      |
| REPUBLIC OF PERU                                                                 | Peruvian Government International Bond                                           | CUSIP: 000000000<br>LEI: 254900STKLK2DBJJZ530 | Long             | DBT              | NUSS              | PE        |     626000 | PA      | $196293.26    | 0.07%             | 2035-08-12      | Fixed         | 6.85%                 | No            |                  2 | On Loan: No      |
| TRUST FIBRAUNO                                                                   | Trust Fibra Uno                                                                  | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              |  | MX        |     442000 | PA      | $483088.32    | 0.17%             | 2032-01-23      | Fixed         | 7.70%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                                                         | FirstEnergy Transmission LLC                                                     | CUSIP: 000000000<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |      36000 | PA      | $31177.94     | 0.01%             | 2049-04-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| DIAMOND II LTD                                                                   | Diamond II Ltd                                                                   | CUSIP: 000000000<br>LEI: 254900KL4GQ2XC50XL44 | Long             | DBT              | CORP              | MU        |     200000 | PA      | $201202.00    | 0.07%             | 2026-07-28      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| INDIA CLEAN ENERGY HLDG                                                          | India Clean Energy Holdings                                                      | CUSIP: 000000000<br>LEI: 254900XQFJ9593DCY022 | Long             | DBT              | CORP              | MU        |     200000 | PA      | $195600.00    | 0.07%             | 2027-04-18      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| CONTINUUM ENERGY AURA                                                            | Continuum Energy Aura Pte Ltd                                                    | CUSIP: 000000000<br>LEI: 984500AB52D7C8GC2E33 | Long             | DBT              | CORP              | SG        |     200000 | PA      | $205626.00    | 0.07%             | 2027-02-24      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| MEDCO CYPRESS TREE PTE                                                           | Medco Cypress Tree Pte Ltd                                                       | CUSIP: 000000000<br>LEI: 254900NKZ2Y3YZK4WC46 | Long             | DBT              | CORP              | SG        |     250000 | PA      | $264812.50    | 0.09%             | 2030-05-19      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| MEDCO LAUREL TREE                                                                | Medco Laurel Tree Pte Ltd                                                        | CUSIP: 000000000<br>LEI: 254900SX7FFGRREZD046 | Long             | DBT              | CORP              | SG        |     200000 | PA      | $201650.00    | 0.07%             | 2028-11-12      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| RENEW POWER PVT LTD                                                              | ReNew Pvt Ltd                                                                    | CUSIP: 000000000<br>LEI: 335800BITJZHVZ1CN475 | Long             | DBT              | CORP              | IN        |     200000 | PA      | $199605.00    | 0.07%             | 2027-03-05      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CONTINUUM GRN SPV CO-ISS                                                         | Continuum Green Energy India Pvt / Co-Issuers                                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | IN        |     192900 | PA      | $203389.90    | 0.07%             | 2033-06-26      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                                  | SWAP/CDSWAP/ICE: (CDX.NA.HY.44.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    7612026 | OU      | $617246.86    | 0.22%             |  |  |  | No            |                  2 | On Loan: No      |
| Intercontinental Exchange, Inc.                                                  | SWAP/CDSWAP/ICE: (ITRAXX.XO.44.V1)                                               | CUSIP: 000000000<br>LEI: 5493000F4ZO33MV32P92 | N/A              | DCR              |  | US        |    3808000 | OU      | $479927.87    | 0.17%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-19

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

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer