# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001752724-23-071989
**Filing Date:** 2023-3
**Character Count:** 140672
**Document Hash:** 22fbe5378b4411fead5e1cc881757b04
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-071989.hdr.sgml**: 20230329

**ACCESSION NUMBER**: 0001752724-23-071989

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230329

**DATE AS OF CHANGE**: 20230329

**PERIOD START**: 20231031

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 23774126

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

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

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

## Series and Classes Contracts Data

### iShares Fallen Angels USD Bond ETF (Series ID: S000054186)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000170247 | iShares Fallen Angels USD Bond ETF | FALN            |

## Nport-Ex

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) | **iShares<sup>®</sup> Fallen Angels USD Bond ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par<br> (000)* | *Value* |
| **Corporate Bonds & Notes** |  |  |
| **Aerospace & Defense — 5.2%** |  |  |
| Bombardier Inc., 7.45%, 05/01/34<sup>(a)(b)</sup> | $7622 | $7785873 |
| Howmet Aerospace Inc. |  |  |
| &nbsp;&nbsp;&nbsp;5.13%, 10/01/24 (Call 07/01/24) | 15314 | 15257491 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.90%, 02/01/27<sup>(b)</sup> | 8708 | 8858213 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.95%, 02/01/37<sup>(b)</sup> | 8775 | 8849938 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 01/15/28<sup>(b)</sup> | 4352 | 4564682 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 05/01/25 (Call 04/01/25)<sup>(b)</sup> | 8381 | 8625977 |
| Rolls-Royce PLC, 3.63%, 10/14/25 (Call 07/14/25)<sup>(a)</sup> | 14919 | 13923008 |
| Spirit AeroSystems Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.85%, 06/15/26 (Call 03/15/26) | 4487 | 4215222 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.60%, 06/15/28 (Call 03/15/28)<sup>(b)</sup> | 10415 | 8839315 |
|  |  | 80919719 |
| **Airlines — 3.7%** |  |  |
| American Airlines Pass Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;Series 2013-1, Class A, 4.00%, 01/15/27 | 3240 | 2947461 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2014-1, Class A, 3.70%, 04/01/28<sup>(b)</sup> | 7591 | 6712605 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2015-1, Class A, 3.38%, 11/01/28<sup>(b)</sup> | 10097 | 8693107 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-1, Class A, 4.10%, 07/15/29<sup>(b)</sup> | 2952 | 2536449 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2016-2, Class A, 3.65%, 12/15/29<sup>(b)</sup> | 2985 | 2454854 |
| Delta Air Lines Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.90%, 10/28/24 (Call 09/28/24)<sup>(b)</sup> | 13566 | 12941964 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.75%, 10/28/29 (Call 07/28/29)<sup>(b)</sup> | 7080 | 6263888 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 04/19/28 (Call 01/19/28)<sup>(b)</sup> | 6121 | 5690388 |
| Hawaiian Airlines Pass Through Certificates, Series 2013-1, Class A, 3.90%, 07/15/27<sup>(b)</sup> | 2632 | 2316670 |
| U.S. Airways Pass Through Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2012-2, Class A, 4.63%, 12/03/26<sup>(b)</sup> | 2624 | 2445676 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series 2013-1, Class A, 3.95%, 05/15/27<sup>(b)</sup> | 4217 | 3921904 |
|  |  | 56924966 |
| **Apparel — 0.5%** |  |  |
| Under Armour Inc., 3.25%, 06/15/26 (Call 03/15/26)<sup>(b)</sup> | 8964 | 8181622 |
| **Auto Manufacturers — 3.0%** |  |  |
| Ford Holdings LLC, 9.30%, 03/01/30<sup>(b)</sup> | 799 | 921654 |
| Ford Motor Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.35%, 12/08/26 (Call 09/08/26)<sup>(b)</sup> | 4117 | 4010205 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/15/43<sup>(b)</sup> | 5365 | 4190011 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.29%, 12/08/46 (Call 06/08/46)<sup>(b)</sup> | 3453 | 2860880 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 02/01/29<sup>(b)</sup> | 546 | 553120 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 10/01/28<sup>(b)</sup> | 1234 | 1285631 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.40%, 11/01/46<sup>(b)</sup> | 1100 | 1134221 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.45%, 07/16/31<sup>(b)</sup> | 2856 | 3064659 |
| Ford Motor Credit Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp;3.66%, 09/08/24 | 2058 | 1986237 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.82%, 11/02/27 (Call 08/02/27)<sup>(b)</sup> | 2036 | 1838325 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.06%, 11/01/24 (Call 10/01/24)<sup>(b)</sup> | 3968 | 3846897 |
| &nbsp;&nbsp;&nbsp;4.13%, 08/04/25 | 3708 | 3541585 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.27%, 01/09/27 (Call 11/09/26)<sup>(b)</sup> | 2383 | 2240211 |
| &nbsp;&nbsp;&nbsp;4.39%, 01/08/26 | 3311 | 3185612 |
| &nbsp;&nbsp;&nbsp;4.54%, 08/01/26 (Call 06/01/26) | 2202 | 2092098 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.69%, 06/09/25 (Call 04/09/25)<sup>(b)</sup> | 1658 | 1609736 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.11%, 05/03/29 (Call 02/03/29)<sup>(b)</sup> | 3946 | 3738756 |
| &nbsp;&nbsp;&nbsp;5.58%, 03/18/24 (Call 02/18/24) | 3891 | 3871506 |
|  |  | 45971344 |
| **Auto Parts & Equipment — 1.2%** |  |  |
| Goodyear Tire & Rubber Co. (The), 7.00%, 03/15/28<sup>(b)</sup> | 2291 | 2335881 |
| ZF North America Capital Inc., 4.75%, 04/29/25<sup>(a)</sup> | 16053 | 15521485 |
|  |  | 17857366 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par<br> (000)* | *Value* |
| **Banks — 5.0%** |  |  |
| Dresdner Funding Trust I, 8.15%, 06/30/31 (Call 06/30/29)<sup>(a)</sup> | $14871 | $16161505 |
| Intesa Sanpaolo SpA, 5.02%, 06/26/24<sup>(a)</sup> | 29581 | 28818993 |
| Pacific Western Bank, 3.25%, 05/01/31 (Call 05/01/26), |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(3 mo. SOFR + 2.520%)<sup>(b)(c)</sup> | 1500 | 1435455 |
| UniCredit SpA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.86%, 06/19/32 (Call 06/19/27)<sup>(a)(b)(c)</sup> | 14899 | 13743285 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.30%, 04/02/34 (Call 04/02/29)<sup>(a)(b)(c)</sup> | 18610 | 18101017 |
|  |  | 78260255 |
| **Chemicals — 1.4%** |  |  |
| HB Fuller Co., 4.00%, 02/15/27 (Call 11/15/26)<sup>(b)</sup> | 4660 | 4329000 |
| Methanex Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 12/01/24 (Call 09/01/24)<sup>(b)</sup> | 4466 | 4313977 |
| &nbsp;&nbsp;&nbsp;5.25%, 12/15/29 (Call 09/15/29) | 10438 | 9645756 |
| &nbsp;&nbsp;&nbsp;5.65%, 12/01/44 (Call 06/01/44) | 4509 | 3771508 |
|  |  | 22060241 |
| **Commercial Services — 0.6%** |  |  |
| United Rentals North America Inc., 3.88%, 11/15/27 (Call 03/03/23)<sup>(b)</sup> | 10479 | 9950649 |
| **Computers — 2.5%** |  |  |
| Seagate HDD Cayman |  |  |
| &nbsp;&nbsp;&nbsp;4.09%, 06/01/29 (Call 03/01/29) | 7432 | 6603183 |
| &nbsp;&nbsp;&nbsp;4.13%, 01/15/31 (Call 10/15/30) | 4461 | 3747998 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 01/01/25<sup>(b)</sup> | 7130 | 6998666 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 03/01/24 (Call 01/01/24)<sup>(b)</sup> | 7277 | 7202556 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.88%, 06/01/27 (Call 03/01/27)<sup>(b)</sup> | 7522 | 7297769 |
| &nbsp;&nbsp;&nbsp;5.75%, 12/01/34 (Call 06/01/34) | 7389 | 6779408 |
|  |  | 38629580 |
| **Cosmetics & Personal Care — 0.2%** |  |  |
| Avon Products Inc., 8.45%, 03/15/43<sup>(b)</sup> | 3272 | 3252139 |
| **Diversified Financial Services — 0.7%** |  |  |
| Brightsphere Investment Group Inc., 4.80%, 07/27/26 | 4153 | 3855604 |
| Navient Corp., 5.63%, 08/01/33 | 8846 | 6925091 |
|  |  | 10780695 |
| **Electric — 3.4%** |  |  |
| FirstEnergy Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;2.05%, 03/01/25 (Call 02/01/25)<sup>(b)</sup> | 2863 | 2685924 |
| &nbsp;&nbsp;&nbsp;2.65%, 03/01/30 (Call 12/01/29) | 5712 | 4879590 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series A, 1.60%, 01/15/26 (Call 12/15/25)<sup>(b)</sup> | 2876 | 2596165 |
| &nbsp;&nbsp;&nbsp;Series B, 2.25%, 09/01/30 (Call 06/01/30) | 4487 | 3686744 |
| &nbsp;&nbsp;&nbsp;Series B, 4.15%, 07/15/27 (Call 04/15/27) | 13953 | 13333068 |
| &nbsp;&nbsp;&nbsp;Series C, 3.40%, 03/01/50 (Call 09/01/49) | 8084 | 5747805 |
| &nbsp;&nbsp;&nbsp;Series C, 5.10%, 07/15/47 (Call 01/15/47) | 6810 | 6281680 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series C, 7.38%, 11/15/31<sup>(b)</sup> | 6226 | 7182687 |
| Midland Cogeneration Venture LP, 6.00%, 03/15/25<sup>(a)(b)</sup> | 715 | 729258 |
| Panoche Energy Center LLC, 6.89%, 07/31/29<sup>(a)(b)</sup> | 669 | 653436 |
| TransAlta Corp., 6.50%, 03/15/40 | 4602 | 4418058 |
|  |  | 52194415 |
| **Energy - Alternate Sources — 0.7%** |  |  |
| Topaz Solar Farms LLC, 5.75%, 09/30/39<sup>(a)(b)</sup> | 11020 | 10574574 |
| **Engineering & Construction — 0.9%** |  |  |
| Fluor Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.50%, 12/15/24 (Call 09/15/24)<sup>(b)</sup> | 5659 | 5516789 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 09/15/28 (Call 06/15/28)<sup>(b)</sup> | 8924 | 8326538 |
|  |  | 13843327 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> Fallen Angels USD Bond ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par<br> (000)* | *Value* |
| **Entertainment — 1.0%** |  |  |
| Resorts World Las Vegas LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 04/16/29 (Call 01/16/29)<sup>(d)</sup> | $14720 | $12054061 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.63%, 04/06/31 (Call 01/06/31)<sup>(a)(b)</sup> | 5280 | 4079275 |
|  |  | 16133336 |
| **Food — 0.3%** |  |  |
| Safeway Inc., 7.25%, 02/01/31<sup>(b)</sup> | 3947 | 4013467 |
| **Health Care - Services — 1.0%** |  |  |
| Tenet Healthcare Corp., 6.88%, 11/15/31<sup>(b)</sup> | 5578 | 5153179 |
| Toledo Hospital (The) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.98%, 11/15/45 (Call 05/15/45)<sup>(b)</sup> | 3925 | 2419998 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.02%, 11/15/48<sup>(b)</sup> | 6100 | 4084377 |
| &nbsp;&nbsp;&nbsp;Series B, 5.33%, 11/15/28 | 4300 | 3509187 |
|  |  | 15166741 |
| **Housewares — 2.9%** |  |  |
| Newell Brands Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 12/01/24 (Call 09/01/24)<sup>(b)</sup> | 3018 | 2932862 |
| &nbsp;&nbsp;&nbsp;4.45%, 04/01/26 (Call 01/01/26) | 29287 | 27820014 |
| &nbsp;&nbsp;&nbsp;5.63%, 04/01/36 (Call 10/01/35) | 6275 | 5587637 |
| &nbsp;&nbsp;&nbsp;5.75%, 04/01/46 (Call 10/01/45) | 9922 | 8261454 |
|  |  | 44601967 |
| **Insurance — 1.9%** |  |  |
| Genworth Holdings Inc., 6.50%, 06/15/34 | 4470 | 4023179 |
| Liberty Mutual Group Inc., 7.80%, 03/07/87<sup>(a)(b)</sup> | 6510 | 7229225 |
| MBIA Inc., 5.70%, 12/01/34<sup>(b)</sup> | 3189 | 3022152 |
| Ohio National Financial Services Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.80%, 01/24/30 (Call 10/24/29)<sup>(a)</sup> | 6336 | 5937909 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.63%, 05/01/31<sup>(a)(b)</sup> | 3750 | 3672862 |
| Provident Financing Trust I, 7.41%, 03/15/38<sup>(b)</sup> | 3149 | 3349056 |
| Wilton RE Ltd., 6.00%, (Call 10/22/30)<sup>(a)(c)(e)</sup> | 2350 | 2090724 |
|  |  | 29325107 |
| **Iron & Steel — 0.6%** |  |  |
| Allegheny Ludlum LLC, 6.95%, 12/15/25<sup>(b)</sup> | 2305 | 2298523 |
| Cliffs Natural Resources Inc., 6.25%, 10/01/40<sup>(b)</sup> | 3972 | 3620716 |
| U.S. Steel Corp., 6.65%, 06/01/37<sup>(b)</sup> | 4253 | 4102061 |
|  |  | 10021300 |
| **Leisure Time — 2.4%** |  |  |
| Carnival Corp., 6.65%, 01/15/28<sup>(b)</sup> | 3027 | 2333454 |
| Carnival PLC, 7.88%, 06/01/27<sup>(b)</sup> | 2894 | 2873395 |
| Royal Caribbean Cruises Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.70%, 03/15/28 (Call 12/15/27)<sup>(b)</sup> | 7561 | 5960941 |
| &nbsp;&nbsp;&nbsp;7.50%, 10/15/27 | 4595 | 4279737 |
| &nbsp;&nbsp;&nbsp;&nbsp;11.50%, 06/01/25 (Call 06/01/23)<sup>(a)</sup> | 20815 | 22333662 |
|  |  | 37781189 |
| **Lodging — 7.4%** |  |  |
| Genting New York LLC, 3.30%, 02/15/26 (Call 01/15/26)<sup>(a)</sup> | 7838 | 7004899 |
| Las Vegas Sands Corp. |  |  |
| &nbsp;&nbsp;&nbsp;2.90%, 06/25/25 (Call 05/25/25) | 6162 | 5763812 |
| &nbsp;&nbsp;&nbsp;3.20%, 08/08/24 (Call 07/08/24) | 21156 | 20334513 |
| &nbsp;&nbsp;&nbsp;3.50%, 08/18/26 (Call 06/18/26) | 12411 | 11542975 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.90%, 08/08/29 (Call 05/08/29)<sup>(b)</sup> | 9250 | 8278657 |
| Sands China Ltd. |  |  |
| &nbsp;&nbsp;&nbsp;4.30%, 01/08/26 (Call 12/08/25) | 7329 | 6944667 |
| &nbsp;&nbsp;&nbsp;4.88%, 06/18/30 (Call 03/18/30) | 6410 | 5846305 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.63%, 08/08/25 (Call 06/08/25)<sup>(b)</sup> | 16444 | 16327083 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.90%, 08/08/28 (Call 05/08/28)<sup>(b)</sup> | 17286 | 17013918 |
| Travel + Leisure Co. |  |  |
| &nbsp;&nbsp;&nbsp;5.65%, 04/01/24 (Call 02/01/24) | 4417 | 4394517 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 04/01/27 (Call 01/01/27)<sup>(b)</sup> | 5968 | 5852639 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par<br> (000)* | *Value* |
| **Lodging (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.60%, 10/01/25 (Call 07/01/25)<sup>(b)</sup> | $5229 | $5218751 |
|  |  | 114522736 |
| **Manufacturing — 0.7%** |  |  |
| Hillenbrand Inc., 5.00%, 09/15/26 (Call 07/15/26)<sup>(b)</sup> | 5810 | 5651503 |
| Trinity Industries Inc., 4.55%, 10/01/24 (Call 07/01/24) | 6007 | 5807568 |
|  |  | 11459071 |
| **Media — 0.8%** |  |  |
| Belo Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.25%, 09/15/27<sup>(b)</sup> | 3627 | 3449785 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.75%, 06/01/27<sup>(b)</sup> | 3111 | 3006004 |
| Liberty Interactive LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;8.25%, 02/01/30<sup>(b)</sup> | 7556 | 3528879 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.50%, 07/15/29<sup>(b)</sup> | 4299 | 2190383 |
|  |  | 12175051 |
| **Office & Business Equipment — 0.9%** |  |  |
| Pitney Bowes Inc., 4.63%, 03/15/24 (Call 12/15/23)<sup>(b)</sup> | 3582 | 3544783 |
| Xerox Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.80%, 05/15/24 | 4407 | 4257911 |
| &nbsp;&nbsp;&nbsp;4.80%, 03/01/35 | 3834 | 2615862 |
| &nbsp;&nbsp;&nbsp;6.75%, 12/15/39 | 5249 | 4119835 |
|  |  | 14538391 |
| **Office Furnishings — 0.4%** |  |  |
| Steelcase Inc., 5.13%, 01/18/29 (Call 10/18/28) | 6802 | 6066636 |
| **Oil & Gas — 8.6%** |  |  |
| Apache Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/15/30 (Call 10/15/29)<sup>(b)</sup> | 6620 | 6069150 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 01/15/44 (Call 07/15/43)<sup>(b)</sup> | 2589 | 1913659 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 10/15/28 (Call 07/15/28)<sup>(b)</sup> | 3890 | 3626919 |
| &nbsp;&nbsp;&nbsp;4.75%, 04/15/43 (Call 10/15/42) | 4967 | 3931728 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.10%, 09/01/40 (Call 03/01/40)<sup>(b)</sup> | 15180 | 13240148 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/01/42 (Call 08/01/41)<sup>(b)</sup> | 4644 | 3902632 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.35%, 07/01/49 (Call 01/01/49)<sup>(b)</sup> | 4478 | 3742444 |
| &nbsp;&nbsp;&nbsp;6.00%, 01/15/37 | 5146 | 4875423 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.38%, 08/15/47<sup>(b)</sup> | 1772 | 1765284 |
| &nbsp;&nbsp;&nbsp;7.75%, 12/15/29 | 2872 | 3040500 |
| Global Marine Inc., 7.00%, 06/01/28<sup>(b)</sup> | 3944 | 3149284 |
| Murphy Oil Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.13%, 12/01/42 (Call 06/01/42) | 5200 | 4264208 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.05%, 05/01/29<sup>(b)</sup> | 3948 | 4039712 |
| Occidental Petroleum Corp. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.40%, 04/15/46 (Call 10/15/45)<sup>(b)</sup> | 2290 | 1874777 |
| &nbsp;&nbsp;&nbsp;4.63%, 06/15/45 (Call 12/15/44) | 1465 | 1230864 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.55%, 03/15/26 (Call 12/15/25)<sup>(b)</sup> | 6924 | 6999195 |
| &nbsp;&nbsp;&nbsp;6.20%, 03/15/40 | 4482 | 4522741 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.45%, 09/15/36<sup>(b)</sup> | 8108 | 8530994 |
| &nbsp;&nbsp;&nbsp;6.60%, 03/15/46 (Call 09/15/45) | 7526 | 8015341 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.95%, 07/01/24<sup>(b)</sup> | 3923 | 3992045 |
| &nbsp;&nbsp;&nbsp;7.50%, 05/01/31 | 4390 | 4882646 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.88%, 09/15/31<sup>(b)</sup> | 2640 | 2990539 |
| &nbsp;&nbsp;&nbsp;7.95%, 06/15/39 | 1728 | 1983761 |
| Patterson-UTI Energy Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.95%, 02/01/28 (Call 11/01/27)<sup>(b)</sup> | 7713 | 6984893 |
| &nbsp;&nbsp;&nbsp;5.15%, 11/15/29 (Call 08/15/29) | 5293 | 4927571 |
| Southwestern Energy Co., 5.70%, 01/23/25 (Call 10/23/24)<sup>(b)</sup> | 6038 | 5990843 |
| Transocean Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.80%, 03/15/38<sup>(b)</sup> | 9063 | 6397391 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 04/15/31<sup>(b)</sup> | 5930 | 4557442 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> Fallen Angels USD Bond ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par<br> (000)* | *Value* |
| **Oil & Gas (continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;9.35%, 12/15/41<sup>(b)</sup> | $2664 | $2064547 |
|  |  | 133506681 |
| **Oil & Gas Services — 0.4%** |  |  |
| Oceaneering International Inc., 4.65%, 11/15/24 (Call 09/30/24) | 6041 | 5896862 |
| **Packaging & Containers — 1.2%** |  |  |
| Crown Cork & Seal Co. Inc., 7.38%, 12/15/26 | 5239 | 5471559 |
| Pactiv LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;7.95%, 12/15/25<sup>(b)</sup> | 3277 | 3247704 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.38%, 04/15/27<sup>(b)</sup> | 2539 | 2495405 |
| Sealed Air Corp., 6.88%, 07/15/33<sup>(a)</sup> | 6919 | 7195899 |
|  |  | 18410567 |
| **Pharmaceuticals — 2.4%** |  |  |
| Owens & Minor Inc., 4.38%, 12/15/24 (Call 09/15/24)<sup>(b)</sup> | 3788 | 3702315 |
| Perrigo Finance Unlimited Co. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.90%, 12/15/24 (Call 09/15/24)<sup>(b)</sup> | 10523 | 10187632 |
| &nbsp;&nbsp;&nbsp;4.38%, 03/15/26 (Call 12/15/25) | 10494 | 9959436 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.40%, 06/15/30 (Call 03/15/30)<sup>(b)</sup> | 11271 | 9891881 |
| &nbsp;&nbsp;&nbsp;4.90%, 12/15/44 (Call 06/15/44) | 4588 | 3402277 |
|  |  | 37143541 |
| **Pipelines — 10.7%** |  |  |
| Buckeye Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;3.95%, 12/01/26 (Call 09/01/26) | 9125 | 8373009 |
| &nbsp;&nbsp;&nbsp;4.13%, 12/01/27 (Call 09/01/27) | 6137 | 5550855 |
| &nbsp;&nbsp;&nbsp;4.35%, 10/15/24 (Call 07/15/24) | 4651 | 4512214 |
| &nbsp;&nbsp;&nbsp;5.60%, 10/15/44 (Call 04/15/44) | 4552 | 3472903 |
| &nbsp;&nbsp;&nbsp;5.85%, 11/15/43 (Call 05/15/43) | 6573 | 5034984 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.75%, 08/15/33<sup>(b)</sup> | 1124 | 1034136 |
| EnLink Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.15%, 06/01/25 (Call 03/01/25)<sup>(b)</sup> | 6346 | 6121669 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 07/15/26 (Call 04/15/26)<sup>(b)</sup> | 7305 | 7092351 |
| &nbsp;&nbsp;&nbsp;5.05%, 04/01/45 (Call 10/01/44) | 6730 | 5310104 |
| &nbsp;&nbsp;&nbsp;5.45%, 06/01/47 (Call 12/01/46) | 7491 | 6226070 |
| &nbsp;&nbsp;&nbsp;5.60%, 04/01/44 (Call 10/01/43) | 5214 | 4367194 |
| EQM Midstream Partners LP |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 08/01/24 (Call 05/01/24)<sup>(b)</sup> | 4565 | 4422618 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.13%, 12/01/26 (Call 09/01/26)<sup>(b)</sup> | 7495 | 6804935 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 07/15/28 (Call 04/15/28)<sup>(b)</sup> | 12763 | 11774633 |
| &nbsp;&nbsp;&nbsp;6.50%, 07/15/48 (Call 01/15/48) | 8191 | 6352530 |
| Rockies Express Pipeline LLC |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.60%, 05/15/25 (Call 04/15/25)<sup>(a)</sup> | 5956 | 5650398 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.80%, 05/15/30 (Call 02/15/30)<sup>(a)</sup> | 5208 | 4662202 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.95%, 07/15/29 (Call 04/15/29)<sup>(a)(b)</sup> | 8182 | 7398901 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 04/15/40<sup>(a)</sup> | 7428 | 6320411 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.50%, 07/15/38<sup>(a)</sup> | 3762 | 3489255 |
| Southeast Supply Header LLC, 4.25%, 06/15/24 (Call 03/15/24)<sup>(a)(b)</sup> | 5897 | 5619133 |
| Western Midstream Operating LP |  |  |
| &nbsp;&nbsp;&nbsp;3.35%, 02/01/25 (Call 01/01/25) | 5910 | 5642750 |
| &nbsp;&nbsp;&nbsp;3.95%, 06/01/25 (Call 03/01/25) | 3218 | 3083616 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.30%, 02/01/30 (Call 11/01/29)<sup>(b)</sup> | 9640 | 8825420 |
| &nbsp;&nbsp;&nbsp;4.50%, 03/01/28 (Call 12/01/27) | 3284 | 3102395 |
| &nbsp;&nbsp;&nbsp;4.65%, 07/01/26 (Call 04/01/26) | 3860 | 3722275 |
| &nbsp;&nbsp;&nbsp;4.75%, 08/15/28 (Call 05/15/28) | 3292 | 3130824 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.30%, 03/01/48 (Call 09/01/47)<sup>(b)</sup> | 5626 | 4919881 |
| &nbsp;&nbsp;&nbsp;5.45%, 04/01/44 (Call 10/01/43) | 4832 | 4249502 |
| &nbsp;&nbsp;&nbsp;5.50%, 08/15/48 (Call 02/15/48) | 2822 | 2451500 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.50%, 02/01/50 (Call 08/01/49)<sup>(b)</sup> | 7986 | 6929213 |
|  |  | 165647881 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par<br> (000)* | *Value* |
| **Real Estate Investment Trusts — 5.0%** |  |  |
| Diversified Healthcare Trust |  |  |
| &nbsp;&nbsp;&nbsp;4.75%, 05/01/24 (Call 11/01/23) | $3751 | $3256543 |
| &nbsp;&nbsp;&nbsp;4.75%, 02/15/28 (Call 08/15/27) | 7438 | 4528478 |
| Office Properties Income Trust |  |  |
| &nbsp;&nbsp;&nbsp;2.40%, 02/01/27 (Call 01/01/27) | 5205 | 3983074 |
| &nbsp;&nbsp;&nbsp;2.65%, 06/15/26 (Call 05/15/26) | 5111 | 4113793 |
| &nbsp;&nbsp;&nbsp;3.45%, 10/15/31 (Call 07/15/31) | 5934 | 4132022 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 05/15/24 (Call 02/15/24)<sup>(b)</sup> | 4965 | 4813717 |
| &nbsp;&nbsp;&nbsp;4.50%, 02/01/25 (Call 11/01/24) | 8034 | 7471620 |
| Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.95%, 01/15/28 (Call 07/15/27)<sup>(b)</sup> | 5451 | 4154480 |
| &nbsp;&nbsp;&nbsp;4.35%, 10/01/24 (Call 09/01/24) | 11092 | 10456428 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.38%, 02/15/30 (Call 08/15/29)<sup>(b)</sup> | 5489 | 4004335 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.50%, 03/15/25 (Call 09/15/24)<sup>(b)</sup> | 4780 | 4327477 |
| &nbsp;&nbsp;&nbsp;4.65%, 03/15/24 (Call 09/15/23) | 4717 | 4606245 |
| &nbsp;&nbsp;&nbsp;4.75%, 10/01/26 (Call 08/01/26) | 6188 | 5112402 |
| &nbsp;&nbsp;&nbsp;4.95%, 02/15/27 (Call 08/15/26) | 5496 | 4518921 |
| &nbsp;&nbsp;&nbsp;4.95%, 10/01/29 (Call 07/01/29) | 5842 | 4388043 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.25%, 02/15/26 (Call 08/15/25)<sup>(b)</sup> | 4824 | 4172953 |
|  |  | 78040531 |
| **Retail — 7.3%** |  |  |
| Bath & Body Works Inc. |  |  |
| &nbsp;&nbsp;&nbsp;6.95%, 03/01/33 | 5212 | 4686474 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.60%, 07/15/37<sup>(b)</sup> | 3726 | 3296877 |
| Bed Bath & Beyond Inc. |  |  |
| &nbsp;&nbsp;&nbsp;3.75%, 08/01/24 (Call 05/01/24) | 2800 | 155596 |
| &nbsp;&nbsp;&nbsp;4.92%, 08/01/34 (Call 02/01/34) | 2900 | 124004 |
| &nbsp;&nbsp;&nbsp;5.17%, 08/01/44 (Call 02/01/44) | 8600 | 395514 |
| Brinker International Inc., 5.00%, 10/01/24 (Call 07/01/24)<sup>(a)(b)</sup> | 5224 | 5111371 |
| Kohl's Corp. |  |  |
| &nbsp;&nbsp;&nbsp;3.63%, 05/01/31 (Call 02/01/31) | 7580 | 5620494 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 07/17/25 (Call 04/17/25)<sup>(b)</sup> | 5139 | 4930613 |
| &nbsp;&nbsp;&nbsp;5.55%, 07/17/45 (Call 01/17/45) | 6321 | 4179508 |
| Macy's Retail Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp;4.30%, 02/15/43 (Call 08/15/42) | 3768 | 2332392 |
| &nbsp;&nbsp;&nbsp;4.50%, 12/15/34 (Call 06/15/34) | 5414 | 3975500 |
| &nbsp;&nbsp;&nbsp;5.13%, 01/15/42 (Call 07/15/41) | 3769 | 2545809 |
| &nbsp;&nbsp;&nbsp;6.38%, 03/15/37 | 2902 | 2402769 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.70%, 07/15/34<sup>(a)</sup> | 2554 | 2149600 |
| Marks & Spencer PLC, 7.13%, 12/01/37<sup>(a)</sup> | 4507 | 4063917 |
| Nordstrom Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.00%, 03/15/27 (Call 12/15/26)<sup>(b)</sup> | 5212 | 4496601 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.25%, 08/01/31 (Call 05/01/31)<sup>(b)</sup> | 6371 | 4786723 |
| &nbsp;&nbsp;&nbsp;4.38%, 04/01/30 (Call 01/01/30) | 7393 | 5935248 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.00%, 01/15/44 (Call 07/15/43)<sup>(b)</sup> | 14235 | 9558518 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.95%, 03/15/28<sup>(b)</sup> | 4470 | 4338716 |
| QVC Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;4.45%, 02/15/25 (Call 11/15/24)<sup>(b)</sup> | 8916 | 7602138 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.75%, 02/15/27 (Call 11/15/26)<sup>(b)</sup> | 8510 | 6451431 |
| &nbsp;&nbsp;&nbsp;&nbsp;4.85%, 04/01/24<sup>(b)</sup> | 8834 | 8453873 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.45%, 08/15/34 (Call 02/15/34)<sup>(b)</sup> | 5907 | 3480700 |
| &nbsp;&nbsp;&nbsp;&nbsp;5.95%, 03/15/43<sup>(b)</sup> | 4451 | 2293956 |
| Rite Aid Corp., 7.70%, 02/15/27<sup>(b)</sup> | 2901 | 1321783 |
| Yum! Brands Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.35%, 11/01/43 (Call 05/01/43)<sup>(b)</sup> | 4110 | 3550999 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.88%, 11/15/37<sup>(b)</sup> | 4845 | 5171650 |
|  |  | 113412774 |
| **Telecommunications — 12.4%** |  |  |
| Embarq Corp., 8.00%, 06/01/36 | 21381 | 10303504 |

---

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> Fallen Angels USD Bond ETF** |
| January 31, 2023 | **(Percentages shown are based on Net Assets)** |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Par <br> (000)* | *Value* |
| **Telecommunications (continued)** |  |  |
| Frontier Florida LLC, Series E, 6.86%, 02/01/28 | $4457 | $4133243 |
| Frontier North Inc., Series G, 6.73%, 02/15/28<sup>(b)</sup> | 3028 | 2795934 |
| Level 3 Financing Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;3.40%, 03/01/27 (Call 01/01/27)<sup>(a)</sup> | 11165 | 9670230 |
| &nbsp;&nbsp;&nbsp;&nbsp;3.88%, 11/15/29 (Call 08/15/29)<sup>(a)</sup> | 11175 | 9053426 |
| Lumen Technologies Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Series G, 6.88%, 01/15/28<sup>(b)</sup> | 4558 | 3741981 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series P, 7.60%, 09/15/39<sup>(b)</sup> | 7692 | 5196484 |
| &nbsp;&nbsp;&nbsp;&nbsp;Series U, 7.65%, 03/15/42<sup>(b)</sup> | 7013 | 4616588 |
| Nokia OYJ, 6.63%, 05/15/39 | 7489 | 7634961 |
| Qwest Corp., 7.25%, 09/15/25<sup>(b)</sup> | 3942 | 3944247 |
| Sprint Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp;6.88%, 11/15/28 | 22503 | 24122541 |
| &nbsp;&nbsp;&nbsp;&nbsp;8.75%, 03/15/32<sup>(b)</sup> | 18050 | 22285974 |
| Telecom Italia Capital SA |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;6.00%, 09/30/34<sup>(b)</sup> | 13661 | 10964319 |
| &nbsp;&nbsp;&nbsp;&nbsp;6.38%, 11/15/33<sup>(b)</sup> | 13639 | 11541458 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.20%, 07/18/36<sup>(b)</sup> | 13634 | 11613850 |
| &nbsp;&nbsp;&nbsp;&nbsp;7.72%, 06/04/38<sup>(b)</sup> | 13642 | 11768817 |
| U.S. Cellular Corp., 6.70%, 12/15/33<sup>(b)</sup> | 8304 | 7721890 |
| Vodafone Group PLC, 7.00%, 04/04/79 (Call 01/04/29)<sup>(c)</sup> | 29892 | 30819549 |
|  |  | 191928996 |
| **Toys, Games & Hobbies — 0.5%** |  |  |
| Mattel Inc. |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;5.45%, 11/01/41 (Call 05/01/41)<sup>(b)</sup> | 4491 | 3861811 |
| &nbsp;&nbsp;&nbsp;6.20%, 10/01/40 | 3856 | 3572545 |
|  |  | 7434356 |
| **Transportation — 0.3%** |  |  |
| XPO CNW Inc., 6.70%, 05/01/34 | 4481 | 4075514 |
| **Total Long-Term Investments — 98.1%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $1,793,132,182)** |  | 1520703587 |

---

---

| | | |
|:---|:---|:---|
| *Security* | *Shares<br> (000)* | *Value* |
| **Short-Term Securities** |  |  |
| **Money Market Funds — 11.7%** |  |  |
| BlackRock Cash Funds: Institutional, SL Agency Shares, 4.56%<sup>(f)(g)(h)</sup> | 175271 | $175376005 |
| BlackRock Cash Funds: Treasury, SL Agency Shares, 4.18%<sup>(f)(g)</sup> | 6170 | 6170000 |
| **Total Short-Term Securities — 11.7%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $181,413,483)** |  | 181546005 |
| **Total Investments — 109.8%** |  |  |
| &nbsp;&nbsp;&nbsp;**(Cost: $1,974,545,665)** |  | 1702249592 |
| **Liabilities in Excess of Other Assets — (9.8)%** |  | (151870788) |
| **Net Assets — 100.0%** |  | $1550378804 |

---

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

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

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

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

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

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

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

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

**Affiliates**

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

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at 10/31/22* | *Purchases at Cost* | *Proceeds from Sale* | *Net Realized Gain (Loss)* | *Change in Unrealized Appreciation (Depreciation)* | *Value at 01/31/23* | *Shares Held at 01/31/23 (000)* | *Income* | *Capital Gain Distributions from Underlying Funds* |
| BlackRock Cash Funds: Institutional, SL Agency Shares | $240104458 | $— | $(64882422)<sup>(a)</sup> | $4962 | $149007 | $175376005 | 175271 | $682773 <sup>(b)</sup> | $— |
| BlackRock Cash Funds: Treasury, SL Agency Shares | 11360000 |  | (5190000)<sup>(a)</sup> |  |  | 6170000 | 6170 | 58503 | 4 |
|  |  |  |  | $4962 | $149007 | $181546005 |  | $741276 | $4 |

---

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

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

**Fair Value Hierarchy as of Period End**

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

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

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

---

| | |
|:---|:---|
| Schedule of Investments (unaudited) (continued) | **iShares<sup>®</sup> Fallen Angels USD Bond ETF** |
| January 31, 2023 |  |

---

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

● Level 3 – Unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Valuation Committee's assumptions used in determining the fair value of financial instruments).

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Investments |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Assets |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corporate Bonds & Notes | $— | $1520703587 | $— | $1520703587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Money Market Funds | 181546005 |  |  | 181546005 |
|  | $181546005 | $1520703587 | $— | $1702249592 |

---

**Portfolio Abbreviation**

SOFR Secured Overnight Financing Rate

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

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

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

- **a. Name of Series:** iShares Fallen Angels USD Bond ETF

- **b. EDGAR series identifier (if any):** S000054186

- **c. LEI of Series:** 549300TGAA9LRLT3ZX42

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $1893562934.46

**Total Liabilities:** $350834923.35

**Net Assets:** $1542728011.11

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 1.45000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** 0.00000000 | **1-Year:** 51733.81000000 | **5-Year:** 316491.58000000 | **10-Year:** 238433.35000000 | **30-Year:** 215288.62000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000170247 | 2.89%                | 0.00%                | 3.69%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-41748194.78            | $79992922.19                               |
| Month 2  | $-14265735.27            | $7305474.17                                |
| Month 3  | $-8499081.94             | $59771037.53                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| OFFICE PPTY INCOME TRST                        | Office Properties Income Trust                             | CUSIP: 67623CAD1<br>LEI: N/A                  | Long             | DBT              |  | US        |   5111000 | PA      | $4113792.79   | 0.27%             | 2026-06-15      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                            | Travel + Leisure Co                                        | CUSIP: 98310WAM0<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |   5229000 | PA      | $5218751.16   | 0.34%             | 2025-10-01      | Fixed         | 6.60%                 | No            |                  2 | On Loan: —       |
| Liberty Interactive LLC                        | Liberty Interactive LLC                                    | CUSIP: 530715AJ0<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |   7481000 | PA      | $3493851.43   | 0.23%             | 2030-02-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                   | CUSIP: 345397XL2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3658000 | PA      | $3493828.96   | 0.23%             | 2025-08-04      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                       | EnLink Midstream Partners LP                               | CUSIP: 29336UAE7<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |   6271000 | PA      | $6049320.15   | 0.39%             | 2025-06-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: —       |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                             | CUSIP: 958254AK0<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   3267000 | PA      | $3107047.68   | 0.20%             | 2028-08-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                         | Lumen Technologies Inc                                     | CUSIP: 156700AT3<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   7013000 | PA      | $4616587.77   | 0.30%             | 2042-03-15      | Fixed         | 7.65%                 | No            |                  2 | On Loan: —       |
| Safeway Inc                                    | Safeway Inc                                                | CUSIP: 786514BA6<br>LEI: 549300NKZ6VCN5P3K723 | Long             | DBT              | CORP              | US        |   3947000 | PA      | $4013467.48   | 0.26%             | 2031-02-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                   | CUSIP: 345397XU2<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3311000 | PA      | $3185612.43   | 0.21%             | 2026-01-08      | Fixed         | 4.39%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                   | CUSIP: 44106MAW2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |   5471000 | PA      | $4498365.62   | 0.29%             | 2027-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| Apache Corp                                    | Apache Corp                                                | CUSIP: 03746AAA8<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   2772000 | PA      | $2934633.24   | 0.19%             | 2029-12-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| Nordstrom Inc                                  | Nordstrom Inc                                              | CUSIP: 655664AR1<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |  14235000 | PA      | $9558517.80   | 0.62%             | 2044-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Embarq Corp                                    | Embarq Corp                                                | CUSIP: 29078EAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  21231000 | PA      | $10231218.90  | 0.66%             | 2036-06-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| Methanex Corp                                  | Methanex Corp                                              | CUSIP: 59151KAK4<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |   4466000 | PA      | $4313977.36   | 0.28%             | 2024-12-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| MACY'S RETAIL HLDGS LLC                        | Macy's Retail Holdings LLC                                 | CUSIP: 55617LAL6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2554000 | PA      | $2149599.64   | 0.14%             | 2034-07-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| US CELLULAR CORP                               | United States Cellular Corp                                | CUSIP: 911684AD0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8104000 | PA      | $7535909.60   | 0.49%             | 2033-12-15      | Fixed         | 6.70%                 | No            |                  2 | On Loan: —       |
| Yum! Brands Inc                                | Yum! Brands Inc                                            | CUSIP: 988498AD3<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   4845000 | PA      | $5171649.90   | 0.34%             | 2037-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Owens & Minor Inc                              | Owens & Minor Inc                                          | CUSIP: 690732AE2<br>LEI: 549300LMT5KQQXCEZ733 | Long             | DBT              | CORP              | US        |   3788000 | PA      | $3702315.44   | 0.24%             | 2024-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                   | CUSIP: 345397WW9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2058000 | PA      | $1986237.54   | 0.13%             | 2024-09-08      | Fixed         | 3.66%                 | No            |                  2 | On Loan: No      |
| FirstEnergy Corp                               | FirstEnergy Corp                                           | CUSIP: 337932AC1<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   6226000 | PA      | $7182687.16   | 0.47%             | 2031-11-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Ford Holdings LLC                              | Ford Holdings LLC                                          | CUSIP: 345277AE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    799000 | PA      | $921654.49    | 0.06%             | 2030-03-01      | Fixed         | 9.30%                 | No            |                  2 | On Loan: No      |
| XEROX CORPORATION                              | Xerox Corp                                                 | CUSIP: 984121CL5<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |   3734000 | PA      | $2547633.52   | 0.17%             | 2035-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                  | CUSIP: 26885BAA8<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   4465000 | PA      | $4325736.65   | 0.28%             | 2024-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| UniCredit SpA                                  | UniCredit SpA                                              | CUSIP: 904678AQ2<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |  18610000 | PA      | $18101016.50  | 1.17%             | 2034-04-02      | Fixed         | 7.30%                 | No            |                  2 | On Loan: —       |
| APACHE CORP                                    | Apache Corp                                                | CUSIP: 037411BF1<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   6620000 | PA      | $6069149.80   | 0.39%             | 2030-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| Methanex Corp                                  | Methanex Corp                                              | CUSIP: 59151KAJ7<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |   4509000 | PA      | $3771507.96   | 0.24%             | 2044-12-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| US AIRWAYS 2013-1A PTT                         | US Airways 2013-1 Class A Pass Through Trust               | CUSIP: 90346WAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4217282 | PA      | $3921903.87   | 0.25%             | 2025-11-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                             | CUSIP: 958254AE4<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   3218000 | PA      | $3083616.32   | 0.20%             | 2025-06-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION                             | Kohl's Corp                                                | CUSIP: 500255AX2<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |   7530000 | PA      | $5583419.70   | 0.36%             | 2031-05-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Qwest Corp                                     | Qwest Corp                                                 | CUSIP: 912920AK1<br>LEI: 549300R2L4N683OO1509 | Long             | DBT              | CORP              | US        |   3742000 | PA      | $3744132.94   | 0.24%             | 2025-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                   | CUSIP: 345397YT4<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2036000 | PA      | $1838324.76   | 0.12%             | 2027-11-02      | Fixed         | 3.82%                 | No            |                  2 | On Loan: —       |
| QVC Inc                                        | QVC Inc                                                    | CUSIP: 747262AM5<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |   4451000 | PA      | $2293956.38   | 0.15%             | 2043-03-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| Newell Brands Inc                              | Newell Brands Inc                                          | CUSIP: 651229AQ9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   3018000 | PA      | $2932862.22   | 0.19%             | 2024-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| OCEANEERING INTL INC                           | Oceaneering International Inc                              | CUSIP: 675232AA0<br>LEI: 549300L6PH74701W0R30 | Long             | DBT              | CORP              | US        |   5991000 | PA      | $5848054.74   | 0.38%             | 2024-11-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                          | Bath & Body Works Inc                                      | CUSIP: 532716AK3<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   5212000 | PA      | $4686474.04   | 0.30%             | 2033-03-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                   | CUSIP: 345397ZQ9<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3891000 | PA      | $3871506.09   | 0.25%             | 2024-03-18      | Fixed         | 5.58%                 | No            |                  2 | On Loan: No      |
| APACHE CORP                                    | Apache Corp                                                | CUSIP: 037411BG9<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   4478000 | PA      | $3742443.72   | 0.24%             | 2049-07-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: —       |
| ROCKIES EXPRESS PIPELINE                       | Rockies Express Pipeline LLC                               | CUSIP: 77340RAD9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   3762000 | PA      | $3489255.00   | 0.23%             | 2038-07-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| LUMEN TECHNOLOGIES INC                         | Lumen Technologies Inc                                     | CUSIP: 156686AM9<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   4558000 | PA      | $3741981.26   | 0.24%             | 2028-01-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| Belo Corp                                      | Belo Corp                                                  | CUSIP: 080555AE5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3011000 | PA      | $2909378.75   | 0.19%             | 2027-06-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| Sealed Air Corp                                | Sealed Air Corp                                            | CUSIP: 81211KAK6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |   6719000 | PA      | $6987894.38   | 0.45%             | 2033-07-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Sands China Ltd                                | Sands China Ltd                                            | CUSIP: 80007RAE5<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |  17286000 | PA      | $17013918.36  | 1.10%             | 2028-08-08      | Fixed         | 5.90%                 | No            |                  2 | On Loan: —       |
| Mattel Inc                                     | Mattel Inc                                                 | CUSIP: 577081AU6<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |   3756000 | PA      | $3479896.44   | 0.23%             | 2040-10-01      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| MACY'S RETAIL HLDGS LLC                        | Macy's Retail Holdings LLC                                 | CUSIP: 55616XAG2<br>LEI: 549300JMONK27O4SQQ19 | Long             | DBT              | CORP              | US        |   3769000 | PA      | $2545808.74   | 0.17%             | 2042-01-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                             | Ford Motor Co                                              | CUSIP: 345370BY5<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   1234000 | PA      | $1285630.56   | 0.08%             | 2028-10-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| Steelcase Inc                                  | Steelcase Inc                                              | CUSIP: 858155AE4<br>LEI: GIE4CCPBJDI8SMV1OX95 | Long             | DBT              | CORP              | US        |   6702000 | PA      | $5977446.78   | 0.39%             | 2029-01-18      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| Pactiv LLC                                     | Pactiv LLC                                                 | CUSIP: 880394AB7<br>LEI: 549300O4WTC6DL4JIE57 | Long             | DBT              | CORP              | US        |   3277000 | PA      | $3247703.62   | 0.21%             | 2025-12-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: —       |
| MURPHY OIL CORPORATION                         | Murphy Oil Corp                                            | CUSIP: 626717AA0<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |   3748000 | PA      | $3835066.04   | 0.25%             | 2029-05-01      | Fixed         | 7.05%                 | No            |                  2 | On Loan: —       |
| ENLINK MIDSTREAM PARTNER                       | EnLink Midstream Partners LP                               | CUSIP: 29336UAG2<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |   7441000 | PA      | $6184512.74   | 0.40%             | 2047-06-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION                             | Kohl's Corp                                                | CUSIP: 500255AV6<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |   6271000 | PA      | $4146447.91   | 0.27%             | 2045-07-17      | Fixed         | 5.55%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                            | Sprint Capital Corp                                        | CUSIP: 852060AT9<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |  18000000 | PA      | $22224240.00  | 1.44%             | 2032-03-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                  | CUSIP: 26885BAC4<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |  12663000 | PA      | $11682377.28  | 0.76%             | 2028-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| ROCKIES EXPRESS PIPELINE                       | Rockies Express Pipeline LLC                               | CUSIP: 77340RAT4<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   5208000 | PA      | $4662201.60   | 0.30%             | 2030-05-15      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc                              | Newell Brands Inc                                          | CUSIP: 651229AX4<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   6275000 | PA      | $5587636.50   | 0.36%             | 2036-04-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| LAS VEGAS SANDS CORP                           | Las Vegas Sands Corp                                       | CUSIP: 517834AE7<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |  12311000 | PA      | $11449968.66  | 0.74%             | 2026-08-18      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                  | CUSIP: 674599DJ1<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   4482000 | PA      | $4522741.38   | 0.29%             | 2040-03-15      | Fixed         | 6.20%                 | No            |                  2 | On Loan: No      |
| Seagate HDD Cayman                             | Seagate HDD Cayman                                         | CUSIP: 81180WAR2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   7522000 | PA      | $7297769.18   | 0.47%             | 2027-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| Bath & Body Works Inc                          | Bath & Body Works Inc                                      | CUSIP: 532716AN7<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |   3716000 | PA      | $3288028.28   | 0.21%             | 2037-07-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: —       |
| FIRSTENERGY CORP                               | FirstEnergy Corp                                           | CUSIP: 337932AN7<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   2876000 | PA      | $2596165.20   | 0.17%             | 2026-01-15      | Fixed         | 1.60%                 | No            |                  2 | On Loan: —       |
| Delta Air Lines Inc                            | Delta Air Lines Inc                                        | CUSIP: 247361ZN1<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   6121000 | PA      | $5690387.65   | 0.37%             | 2028-04-19      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Buckeye Partners LP                            | Buckeye Partners LP                                        | CUSIP: 118230AQ4<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   9075000 | PA      | $8327129.25   | 0.54%             | 2026-12-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| Pactiv LLC                                     | Pactiv LLC                                                 | CUSIP: 880394AE1<br>LEI: 549300O4WTC6DL4JIE57 | Long             | DBT              | CORP              | US        |   2539000 | PA      | $2495405.37   | 0.16%             | 2027-04-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| Liberty Mutual Group Inc                       | Liberty Mutual Group Inc                                   | CUSIP: 53079EAN4<br>LEI: QUR0DG15Z6FFGYCHH861 | Long             | DBT              | CORP              | US        |   6510000 | PA      | $7229224.80   | 0.47%             | 2037-03-15      | Fixed         | 7.80%                 | No            |                  2 | On Loan: —       |
| FIRSTENERGY CORP                               | FirstEnergy Corp                                           | CUSIP: 337932AP2<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   4287000 | PA      | $3522413.55   | 0.23%             | 2030-09-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                       | Diversified Healthcare Trust                               | CUSIP: 81721MAK5<br>LEI: N/A                  | Long             | DBT              |  | US        |   3751000 | PA      | $3256543.18   | 0.21%             | 2024-05-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                  | CUSIP: 674599DD4<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   4390000 | PA      | $4882645.80   | 0.32%             | 2031-05-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| Crown Cork & Seal Co Inc                       | Crown Cork & Seal Co Inc                                   | CUSIP: 228255AH8<br>LEI: 7HLDMDH0ZXNUH6PT7Z42 | Long             | DBT              | CORP              | US        |   5239000 | PA      | $5471559.21   | 0.35%             | 2026-12-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| Genworth Holdings Inc                          | Genworth Holdings Inc                                      | CUSIP: 37247DAB2<br>LEI: PXDECZED7L8SRUP41R09 | Long             | DBT              | CORP              | US        |   4470000 | PA      | $4023178.80   | 0.26%             | 2034-06-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                             | Ford Motor Co                                              | CUSIP: 345370BZ2<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |    546000 | PA      | $553119.84    | 0.04%             | 2029-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| UniCredit SpA                                  | UniCredit SpA                                              | CUSIP: 904678AF6<br>LEI: 549300TRUWO2CD2G5692 | Long             | DBT              | CORP              | IT        |  14899000 | PA      | $13743284.57  | 0.89%             | 2032-06-19      | Fixed         | 5.86%                 | No            |                  2 | On Loan: —       |
| HOWMET AEROSPACE INC                           | Howmet Aerospace Inc                                       | CUSIP: 013817AW1<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |  15214000 | PA      | $15157860.34  | 0.98%             | 2024-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: —       |
| TELECOM ITALIA CAPITAL                         | Telecom Italia Capital SA                                  | CUSIP: 87927VAF5<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |  13564000 | PA      | $11477992.44  | 0.74%             | 2033-11-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| KOHL'S CORPORATION                             | Kohl's Corp                                                | CUSIP: 500255AU8<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |   4939000 | PA      | $4738723.55   | 0.31%             | 2025-07-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| RESORTS WORLD/RWLV CAP                         | Resorts World Las Vegas LLC / RWLV Capital Inc             | CUSIP: 76120HAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5280000 | PA      | $4079275.20   | 0.26%             | 2031-04-06      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                   | CUSIP: 44106MAY8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |   5489000 | PA      | $4004335.28   | 0.26%             | 2030-02-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| XEROX CORPORATION                              | Xerox Corp                                                 | CUSIP: 984121CB7<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |   5199000 | PA      | $4080591.12   | 0.26%             | 2039-12-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                  | CUSIP: 674599CF0<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1465000 | PA      | $1230863.70   | 0.08%             | 2045-06-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc                              | Newell Brands Inc                                          | CUSIP: 651229AW6<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |  29287000 | PA      | $27820014.17  | 1.80%             | 2026-04-01      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Nokia OYJ                                      | Nokia Oyj                                                  | CUSIP: 654902AC9<br>LEI: 549300A0JPRWG1KI7U06 | Long             | DBT              | CORP              | FI        |   7439000 | PA      | $7583986.11   | 0.49%             | 2039-05-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                       | Rockies Express Pipeline LLC                               | CUSIP: 77340RAR8<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   8182000 | PA      | $7398900.78   | 0.48%             | 2029-07-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: —       |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares      | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        | 174520198 | NS      | $174624910.31 | 11.32%            |  |  |  | No            |                  1 | On Loan: No      |
| UNITED RENTALS NORTH AM                        | United Rentals North America Inc                           | CUSIP: 911365BM5<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |  10379000 | PA      | $9855690.82   | 0.64%             | 2027-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                             | CUSIP: 958667AC1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   9565000 | PA      | $8756757.50   | 0.57%             | 2030-02-01      | Fixed         | 4.30%                 | No            |                  2 | On Loan: —       |
| TELECOM ITALIA CAPITAL                         | Telecom Italia Capital SA                                  | CUSIP: 87927VAV0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |  13567000 | PA      | $11704115.23  | 0.76%             | 2038-06-04      | Fixed         | 7.72%                 | No            |                  2 | On Loan: —       |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                  | CUSIP: 674599DH5<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   1728000 | PA      | $1983761.28   | 0.13%             | 2039-06-15      | Fixed         | 7.95%                 | No            |                  2 | On Loan: No      |
| Sprint Capital Corp                            | Sprint Capital Corp                                        | CUSIP: 852060AD4<br>LEI: 549300L17W0GQBR1PO80 | Long             | DBT              | CORP              | US        |  22428000 | PA      | $24042143.16  | 1.56%             | 2028-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                              | CUSIP: 143658AH5<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |   3027000 | PA      | $2333453.76   | 0.15%             | 2028-01-15      | Fixed         | 6.65%                 | No            |                  2 | On Loan: —       |
| HOWMET AEROSPACE INC                           | Howmet Aerospace Inc                                       | CUSIP: 013817AK7<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |   8725000 | PA      | $8799511.50   | 0.57%             | 2037-02-01      | Fixed         | 5.95%                 | No            |                  2 | On Loan: —       |
| NORDSTROM INC                                  | Nordstrom Inc                                              | CUSIP: 655664AY6<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |   6271000 | PA      | $4711590.43   | 0.31%             | 2031-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| PROVIDENT FINANCING TR I                       | Provident Financing Trust I                                | CUSIP: 743863AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3073000 | PA      | $3268227.69   | 0.21%             | 2038-03-15      | Fixed         | 7.41%                 | No            |                  2 | On Loan: —       |
| ENLINK MIDSTREAM PARTNER                       | EnLink Midstream Partners LP                               | CUSIP: 29336UAD9<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |   6680000 | PA      | $5270653.60   | 0.34%             | 2045-04-01      | Fixed         | 5.05%                 | No            |                  2 | On Loan: No      |
| Fluor Corp                                     | Fluor Corp                                                 | CUSIP: 343412AF9<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | DBT              | CORP              | US        |   8924000 | PA      | $8326538.20   | 0.54%             | 2028-09-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| FIRSTENERGY CORP                               | FirstEnergy Corp                                           | CUSIP: 337932AM9<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   8084000 | PA      | $5747804.84   | 0.37%             | 2050-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                   | CUSIP: 44106MBA9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |   6138000 | PA      | $5071092.84   | 0.33%             | 2026-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                         | Goodyear Tire & Rubber Co/The                              | CUSIP: 382550AD3<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   2291000 | PA      | $2335880.69   | 0.15%             | 2028-03-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| Seagate HDD Cayman                             | Seagate HDD Cayman                                         | CUSIP: 81180WAL5<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   7130000 | PA      | $6998665.40   | 0.45%             | 2025-01-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| TRAVEL + LEISURE CO                            | Travel + Leisure Co                                        | CUSIP: 98310WAN8<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |   5968000 | PA      | $5852638.56   | 0.38%             | 2027-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| SANDS CHINA LTD                                | Sands China Ltd                                            | CUSIP: 80007RAK1<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   7329000 | PA      | $6944667.24   | 0.45%             | 2026-01-08      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY CORP                               | FirstEnergy Corp                                           | CUSIP: 337932AL1<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   5712000 | PA      | $4879590.24   | 0.32%             | 2030-03-01      | Fixed         | 2.65%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                  | CUSIP: 674599DF9<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   8058000 | PA      | $8478385.86   | 0.55%             | 2036-09-15      | Fixed         | 6.45%                 | No            |                  2 | On Loan: —       |
| Allegheny Ludlum LLC                           | Allegheny Ludlum LLC                                       | CUSIP: 016900AC6<br>LEI: KCBRRAMO64UL0JAYG446 | Long             | DBT              | CORP              | US        |   2305000 | PA      | $2298522.95   | 0.15%             | 2025-12-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: —       |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                             | CUSIP: 958254AF1<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   3835000 | PA      | $3698167.20   | 0.24%             | 2026-07-01      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| QVC Inc                                        | QVC Inc                                                    | CUSIP: 747262AU7<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |   8916000 | PA      | $7602138.24   | 0.49%             | 2025-02-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: —       |
| Intesa Sanpaolo SpA                            | Intesa Sanpaolo SpA                                        | CUSIP: 46115HAT4<br>LEI: 2W8N8UU78PMDQKZENC08 | Long             | DBT              | CORP              | IT        |  29481000 | PA      | $28721569.44  | 1.86%             | 2024-06-26      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                   | CUSIP: 345397A45<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2333000 | PA      | $2193206.64   | 0.14%             | 2027-01-09      | Fixed         | 4.27%                 | No            |                  2 | On Loan: —       |
| Navient Corp                                   | Navient Corp                                               | CUSIP: 78442FAZ1<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   8846000 | PA      | $6925091.10   | 0.45%             | 2033-08-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| OFFICE PPTY INCOME TRST                        | Office Properties Income Trust                             | CUSIP: 81618TAE0<br>LEI: N/A                  | Long             | DBT              |  | US        |   4965000 | PA      | $4813716.45   | 0.31%             | 2024-05-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| Bed Bath & Beyond Inc                          | Bed Bath & Beyond Inc                                      | CUSIP: 075896AC4<br>LEI: 529900ZBUWWUV7BKGX39 | Long             | DBT              | CORP              | US        |   8600000 | PA      | $395514.00    | 0.03%             | 2044-08-01      | Fixed         | 5.17%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                   | CUSIP: 345397ZJ5<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   1658000 | PA      | $1609735.62   | 0.10%             | 2025-06-09      | Fixed         | 4.69%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                   | CUSIP: 44106MAT9<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |   4780000 | PA      | $4327477.40   | 0.28%             | 2025-03-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| ROCKIES EXPRESS PIPELINE                       | Rockies Express Pipeline LLC                               | CUSIP: 77340RAM9<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   7428000 | PA      | $6320410.92   | 0.41%             | 2040-04-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| OFFICE PPTY INCOME TRST                        | Office Properties Income Trust                             | CUSIP: 81618TAC4<br>LEI: N/A                  | Long             | DBT              |  | US        |   7934000 | PA      | $7378620.00   | 0.48%             | 2025-02-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                                  | Nordstrom Inc                                              | CUSIP: 655664AT7<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |   7393000 | PA      | $5935248.26   | 0.38%             | 2030-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| RESORTS WORLD/RWLV CAP                         | Resorts World Las Vegas LLC / RWLV Capital Inc             | CUSIP: 000000000<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  14720000 | PA      | $12054060.80  | 0.78%             | 2029-04-16      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Patterson-UTI Energy Inc                       | Patterson-UTI Energy Inc                                   | CUSIP: 703481AB7<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |   7713000 | PA      | $6984892.80   | 0.45%             | 2028-02-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| OHIO NAT FINANCIAL SRVS                        | Ohio National Financial Services Inc                       | CUSIP: 67740QAH9<br>LEI: 549300K609B872PZT291 | Long             | DBT              | CORP              | US        |   6336000 | PA      | $5937909.12   | 0.38%             | 2030-01-24      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| BRINKER INTERNATIONAL IN                       | Brinker International Inc                                  | CUSIP: 109641AH3<br>LEI: 52990067JY6PBGJNTG76 | Long             | DBT              | CORP              | US        |   5224000 | PA      | $5111370.56   | 0.33%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                   | CUSIP: 44106MAZ5<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |  11071000 | PA      | $10436631.70  | 0.68%             | 2024-10-01      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| Transocean Inc                                 | Transocean Inc                                             | CUSIP: 893830AZ2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |   2664000 | PA      | $2064546.72   | 0.13%             | 2041-12-15      | Fixed         | 9.35%                 | No            |                  2 | On Loan: —       |
| LAS VEGAS SANDS CORP                           | Las Vegas Sands Corp                                       | CUSIP: 517834AG2<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |  21156000 | PA      | $20334512.52  | 1.32%             | 2024-08-08      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| PANOCHE ENERGY CENTER                          | Panoche Energy Center LLC                                  | CUSIP: 698525AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    668791 | PA      | $653435.60    | 0.04%             | 2029-07-31      | Fixed         | 6.89%                 | No            |                  2 | On Loan: —       |
| FRONTIER FLORIDA LLC                           | Frontier Florida LLC                                       | CUSIP: 362333AH9<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |   4457000 | PA      | $4133243.52   | 0.27%             | 2028-02-01      | Fixed         | 6.86%                 | No            |                  2 | On Loan: No      |
| Nordstrom Inc                                  | Nordstrom Inc                                              | CUSIP: 655664AS9<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |   5212000 | PA      | $4496600.88   | 0.29%             | 2027-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| Under Armour Inc                               | Under Armour Inc                                           | CUSIP: 904311AA5<br>LEI: 549300D4549QKWETZ406 | Long             | DBT              | CORP              | US        |   8964000 | PA      | $8181622.08   | 0.53%             | 2026-06-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| FORD MOTOR COMPANY                             | Ford Motor Co                                              | CUSIP: 345370CS7<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   3253000 | PA      | $2695175.56   | 0.17%             | 2046-12-08      | Fixed         | 5.29%                 | No            |                  2 | On Loan: —       |
| Bombardier Inc                                 | Bombardier Inc                                             | CUSIP: 097751AL5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |   7592000 | PA      | $7755228.00   | 0.50%             | 2034-05-01      | Fixed         | 7.45%                 | No            |                  2 | On Loan: —       |
| HAWAIIAN AIRLINES 13-1A                        | Hawaiian Airlines 2013-1 Class A Pass Through Certificates | CUSIP: 419838AA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2632311 | PA      | $2316670.27   | 0.15%             | 2026-01-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: —       |
| Global Marine Inc                              | Global Marine Inc                                          | CUSIP: 379352AL1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3944000 | PA      | $3149284.00   | 0.20%             | 2028-06-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: —       |
| FORD MOTOR COMPANY                             | Ford Motor Co                                              | CUSIP: 345370CR9<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   4117000 | PA      | $4010205.02   | 0.26%             | 2026-12-08      | Fixed         | 4.35%                 | No            |                  2 | On Loan: —       |
| XPO CNW Inc                                    | XPO CNW Inc                                                | CUSIP: 12612WAB0<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |   4481000 | PA      | $4075514.31   | 0.26%             | 2034-05-01      | Fixed         | 6.70%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp                          | Tenet Healthcare Corp                                      | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   5378000 | PA      | $4968411.52   | 0.32%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| DELTA AIR LINES INC                            | Delta Air Lines Inc                                        | CUSIP: 247361ZU5<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |  13391000 | PA      | $12775014.00  | 0.83%             | 2024-10-28      | Fixed         | 2.90%                 | No            |                  2 | On Loan: —       |
| Apache Corp                                    | Apache Corp                                                | CUSIP: 037411BE4<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   3815000 | PA      | $3556991.55   | 0.23%             | 2028-10-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| Liberty Interactive LLC                        | Liberty Interactive LLC                                    | CUSIP: 530715AD3<br>LEI: 549300SZUIU7Z32Q0664 | Long             | DBT              | CORP              | US        |   4299000 | PA      | $2190383.49   | 0.14%             | 2029-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                   | CUSIP: 345397ZX4<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3843000 | PA      | $3725711.64   | 0.24%             | 2024-11-01      | Fixed         | 4.06%                 | No            |                  2 | On Loan: —       |
| DRESDNER FNDG TRUST I                          | Dresdner Funding Trust I                                   | CUSIP: 26156FAA1<br>LEI: 549300ZEO4BKB37E3J03 | Long             | DBT              | CORP              | US        |  14871000 | PA      | $16161505.38  | 1.05%             | 2031-06-30      | Fixed         | 8.15%                 | No            |                  2 | On Loan: No      |
| US AIRWAYS 2012-2A PTT                         | US Airways 2012-2 Class A Pass Through Trust               | CUSIP: 90345WAD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2623834 | PA      | $2445675.97   | 0.16%             | 2025-06-03      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| SEAGATE HDD CAYMAN                             | Seagate HDD Cayman                                         | CUSIP: 81180WBD2<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   4461000 | PA      | $3747998.37   | 0.24%             | 2031-01-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| TOLEDO HOSPITAL/THE                            | Toledo Hospital/The                                        | CUSIP: 889184AA5<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |   3925000 | PA      | $2419998.00   | 0.16%             | 2045-11-15      | Fixed         | 4.98%                 | No            |                  2 | On Loan: —       |
| TELECOM ITALIA CAPITAL                         | Telecom Italia Capital SA                                  | CUSIP: 87927VAR9<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |  13559000 | PA      | $11549962.97  | 0.75%             | 2036-07-18      | Fixed         | 7.20%                 | No            |                  2 | On Loan: —       |
| Rite Aid Corp                                  | Rite Aid Corp                                              | CUSIP: 767754AJ3<br>LEI: 529900W353T1JY1DKT44 | Long             | DBT              | CORP              | US        |   2901000 | PA      | $1321782.63   | 0.09%             | 2027-02-15      | Fixed         | 7.70%                 | No            |                  2 | On Loan: —       |
| Transocean Inc                                 | Transocean Inc                                             | CUSIP: 893830AT6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |   9063000 | PA      | $6397390.44   | 0.41%             | 2038-03-15      | Fixed         | 6.80%                 | No            |                  2 | On Loan: —       |
| Sands China Ltd                                | Sands China Ltd                                            | CUSIP: 80007RAF2<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |  16444000 | PA      | $16327083.16  | 1.06%             | 2025-08-08      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| FirstEnergy Corp                               | FirstEnergy Corp                                           | CUSIP: 337932AH0<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |  13953000 | PA      | $13333068.21  | 0.86%             | 2027-07-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                | CUSIP: 780153AZ5<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |  20715000 | PA      | $22226366.40  | 1.44%             | 2025-06-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| Apache Corp                                    | Apache Corp                                                | CUSIP: 037411AR6<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   5146000 | PA      | $4875423.32   | 0.32%             | 2037-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Ford Motor Credit Co LLC                       | Ford Motor Credit Co LLC                                   | CUSIP: 345397ZR7<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   3746000 | PA      | $3549260.08   | 0.23%             | 2029-05-03      | Fixed         | 5.11%                 | No            |                  2 | On Loan: —       |
| ENLINK MIDSTREAM PARTNER                       | EnLink Midstream Partners LP                               | CUSIP: 29336UAC1<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |   5214000 | PA      | $4367194.26   | 0.28%             | 2044-04-01      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| QVC Inc                                        | QVC Inc                                                    | CUSIP: 747262AS2<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |   8834000 | PA      | $8453872.98   | 0.55%             | 2024-04-01      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| SEAGATE HDD CAYMAN                             | Seagate HDD Cayman                                         | CUSIP: 81180WBC4<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   7432000 | PA      | $6603183.36   | 0.43%             | 2029-06-01      | Fixed         | 4.09%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                             | CUSIP: 958254AJ3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   5626000 | PA      | $4919880.74   | 0.32%             | 2048-03-01      | Fixed         | 5.30%                 | No            |                  2 | On Loan: —       |
| PERRIGO FINANCE UNLIMITD                       | Perrigo Finance Unlimited Co                               | CUSIP: 714295AC6<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |  10423000 | PA      | $10090818.99  | 0.65%             | 2024-12-15      | Fixed         | 3.90%                 | No            |                  2 | On Loan: —       |
| LAS VEGAS SANDS CORP                           | Las Vegas Sands Corp                                       | CUSIP: 517834AF4<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   9250000 | PA      | $8278657.50   | 0.54%             | 2029-08-08      | Fixed         | 3.90%                 | No            |                  2 | On Loan: —       |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                  | CUSIP: 674599DB8<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   3923000 | PA      | $3992044.80   | 0.26%             | 2024-07-01      | Fixed         | 6.95%                 | No            |                  2 | On Loan: —       |
| LAS VEGAS SANDS CORP                           | Las Vegas Sands Corp                                       | CUSIP: 517834AH0<br>LEI: 549300DUOO1KXOHPM605 | Long             | DBT              | CORP              | US        |   6162000 | PA      | $5763811.56   | 0.37%             | 2025-06-25      | Fixed         | 2.90%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                            | Buckeye Partners LP                                        | CUSIP: 118230AP6<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   4552000 | PA      | $3472902.88   | 0.23%             | 2044-10-15      | Fixed         | 5.60%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                  | CUSIP: 674599CJ2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   2240000 | PA      | $1833843.20   | 0.12%             | 2046-04-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: —       |
| Rolls-Royce PLC                                | Rolls-Royce PLC                                            | CUSIP: 77578JAB4<br>LEI: X57JK1U580XATGR67572 | Long             | DBT              | CORP              | GB        |  14919000 | PA      | $13923007.56  | 0.90%             | 2025-10-14      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Belo Corp                                      | Belo Corp                                                  | CUSIP: 080555AF2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3627000 | PA      | $3449784.78   | 0.22%             | 2027-09-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                   | CUSIP: 44106MAV4<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |   4774000 | PA      | $4129700.96   | 0.27%             | 2026-02-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                             | CUSIP: 958254AD6<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   4832000 | PA      | $4249502.40   | 0.28%             | 2044-04-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| ENLINK MIDSTREAM PARTNER                       | EnLink Midstream Partners LP                               | CUSIP: 29336UAF4<br>LEI: 88CPW63VL7KHJWS0NY83 | Long             | DBT              | CORP              | US        |   7305000 | PA      | $7092351.45   | 0.46%             | 2026-07-15      | Fixed         | 4.85%                 | No            |                  2 | On Loan: —       |
| Cleveland-Cliffs Inc                           | Cleveland-Cliffs Inc                                       | CUSIP: 18683KAC5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   3972000 | PA      | $3620716.32   | 0.23%             | 2040-10-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| Bed Bath & Beyond Inc                          | Bed Bath & Beyond Inc                                      | CUSIP: 075896AA8<br>LEI: 529900ZBUWWUV7BKGX39 | Long             | DBT              | CORP              | US        |   2800000 | PA      | $155596.00    | 0.01%             | 2024-08-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| TOPAZ SOLAR FARMS LLC                          | Topaz Solar Farms LLC                                      | CUSIP: 89054XAC9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10920232 | PA      | $10478617.82  | 0.68%             | 2039-09-30      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| Murphy Oil Corp                                | Murphy Oil Corp                                            | CUSIP: 626717AG7<br>LEI: QBKYQD0ODE7DC7PDIN91 | Long             | DBT              | CORP              | US        |   5200000 | PA      | $4264208.00   | 0.28%             | 2042-12-01      | Fixed         | 6.13%                 | No            |                  2 | On Loan: No      |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                | CUSIP: 780153AW2<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   7461000 | PA      | $5882103.18   | 0.38%             | 2028-03-15      | Fixed         | 3.70%                 | No            |                  2 | On Loan: —       |
| ROYAL CARIBBEAN CRUISES                        | Royal Caribbean Cruises Ltd                                | CUSIP: 780153AG7<br>LEI: K2NEH8QNVW44JIWK7Z55 | Long             | DBT              | CORP              | LR        |   4495000 | PA      | $4186598.05   | 0.27%             | 2027-10-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| FRONTIER NORTH INC                             | Frontier North Inc                                         | CUSIP: 362337AK3<br>LEI: 549300ZCZ76HYCS0H445 | Long             | DBT              | CORP              | US        |   3008000 | PA      | $2777466.88   | 0.18%             | 2028-02-15      | Fixed         | 6.73%                 | No            |                  2 | On Loan: —       |
| MACY'S RETAIL HLDGS LLC                        | Macy's Retail Holdings LLC                                 | CUSIP: 55616XAM9<br>LEI: 549300JMONK27O4SQQ19 | Long             | DBT              | CORP              | US        |   5414000 | PA      | $3975500.20   | 0.26%             | 2034-12-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| PATTERSON-UTI ENERGY INC                       | Patterson-UTI Energy Inc                                   | CUSIP: 703481AC5<br>LEI: 254900XGFBKIXD6G0697 | Long             | DBT              | CORP              | US        |   5193000 | PA      | $4834475.28   | 0.31%             | 2029-11-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| SANDS CHINA LTD                                | Sands China Ltd                                            | CUSIP: 80007RAL9<br>LEI: 549300EVO6UZDGY05787 | Long             | DBT              | CORP              | KY        |   6410000 | PA      | $5846304.60   | 0.38%             | 2030-06-18      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Yum! Brands Inc                                | Yum! Brands Inc                                            | CUSIP: 988498AK7<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |   4110000 | PA      | $3550998.90   | 0.23%             | 2043-11-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: —       |
| Apache Corp                                    | Apache Corp                                                | CUSIP: 037411BA2<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   4942000 | PA      | $3911938.94   | 0.25%             | 2043-04-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| DIVERSIFIED HEALTHCARE T                       | Diversified Healthcare Trust                               | CUSIP: 81721MAM1<br>LEI: N/A                  | Long             | DBT              |  | US        |   7438000 | PA      | $4528477.54   | 0.29%             | 2028-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                             | CUSIP: 958254AH7<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   3259000 | PA      | $3078777.30   | 0.20%             | 2028-03-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Newell Brands Inc                              | Newell Brands Inc                                          | CUSIP: 651229AY2<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   9922000 | PA      | $8261454.08   | 0.54%             | 2046-04-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                            | Buckeye Partners LP                                        | CUSIP: 118230AR2<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   6087000 | PA      | $5505630.63   | 0.36%             | 2027-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| United States Steel Corp                       | United States Steel Corp                                   | CUSIP: 912909AD0<br>LEI: JNLUVFYJT1OZSIQ24U47 | Long             | DBT              | CORP              | US        |   4115000 | PA      | $3968958.65   | 0.26%             | 2037-06-01      | Fixed         | 6.65%                 | No            |                  2 | On Loan: —       |
| FORD MOTOR COMPANY                             | Ford Motor Co                                              | CUSIP: 345370CQ1<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   4865000 | PA      | $3799516.35   | 0.25%             | 2043-01-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| LEVEL 3 FINANCING INC                          | Level 3 Financing Inc                                      | CUSIP: 527298BP7<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |  11165000 | PA      | $9670229.80   | 0.63%             | 2027-03-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| Spirit AeroSystems Inc                         | Spirit AeroSystems Inc                                     | CUSIP: 85205TAK6<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |  10415000 | PA      | $8839314.65   | 0.57%             | 2028-06-15      | Fixed         | 4.60%                 | No            |                  2 | On Loan: —       |
| AMERN AIRLINE 16-2 A PTT                       | American Airlines 2016-2 Class A Pass Through Trust        | CUSIP: 023764AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2985206 | PA      | $2454853.89   | 0.16%             | 2028-06-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: —       |
| H.B. FULLER CO                                 | HB Fuller Co                                               | CUSIP: 359694AB2<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |   4492000 | PA      | $4172933.24   | 0.27%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| FIRSTENERGY CORP                               | FirstEnergy Corp                                           | CUSIP: 337932AK3<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   2863000 | PA      | $2685923.45   | 0.17%             | 2025-03-01      | Fixed         | 2.05%                 | No            |                  2 | On Loan: —       |
| Toledo Hospital/The                            | Toledo Hospital/The                                        | CUSIP: 889184AE7<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |   6100000 | PA      | $4084377.00   | 0.26%             | 2048-11-15      | Fixed         | 6.02%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                   | CUSIP: 44106MBB7<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |   5842000 | PA      | $4388043.04   | 0.28%             | 2029-10-01      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY TRANSMISSION                       | FirstEnergy Transmission LLC                               | CUSIP: 33767BAA7<br>LEI: 549300AINIIPOLYX2R63 | Long             | DBT              | CORP              | US        |         0 | PA      | $0.00         | 0.00%             | 2044-07-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| TransAlta Corp                                 | TransAlta Corp                                             | CUSIP: 89346DAE7<br>LEI: GJZNVO2UY6DNFNIYH321 | Long             | DBT              | CORP              | CA        |   4477000 | PA      | $4298054.31   | 0.28%             | 2040-03-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| PERRIGO FINANCE UNLIMITD                       | Perrigo Finance Unlimited Co                               | CUSIP: 714295AA0<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |   4563000 | PA      | $3383738.28   | 0.22%             | 2044-12-15      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                            | Buckeye Partners LP                                        | CUSIP: 118230AM3<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   6573000 | PA      | $5034983.73   | 0.33%             | 2043-11-15      | Fixed         | 5.85%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 15-1 A PTT                          | American Airlines 2015-1 Class A Pass Through Trust        | CUSIP: 023770AA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |  10096641 | PA      | $8693106.79   | 0.56%             | 2027-05-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: —       |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                  | CUSIP: 26885BAE0<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   8191000 | PA      | $6352530.05   | 0.41%             | 2048-07-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| HOWMET AEROSPACE INC                           | Howmet Aerospace Inc                                       | CUSIP: 013817AJ0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |   8708000 | PA      | $8858213.00   | 0.57%             | 2027-02-01      | Fixed         | 5.90%                 | No            |                  2 | On Loan: —       |
| QVC Inc                                        | QVC Inc                                                    | CUSIP: 747262AW3<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |   5907000 | PA      | $3480699.75   | 0.23%             | 2034-08-15      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| PERRIGO FINANCE UNLIMITE                       | Perrigo Finance Unlimited Co                               | CUSIP: 71429MAC9<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |  11171000 | PA      | $9804116.44   | 0.64%             | 2030-06-15      | Fixed         | 4.40%                 | No            |                  2 | On Loan: —       |
| MACY'S RETAIL HLDGS LLC                        | Macy's Retail Holdings LLC                                 | CUSIP: 314275AC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2902000 | PA      | $2402768.94   | 0.16%             | 2037-03-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| Southwestern Energy Co                         | Southwestern Energy Co                                     | CUSIP: 845467AL3<br>LEI: EFWMP121W54QV9MGOP87 | Long             | DBT              | CORP              | US        |   5838000 | PA      | $5792405.22   | 0.38%             | 2025-01-23      | Fixed         | 5.70%                 | No            |                  2 | On Loan: —       |
| GENTING NY LLC/GENNY CAP                       | Genting New York LLC / GENNY Capital Inc                   | CUSIP: 37255JAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7838000 | PA      | $7004898.98   | 0.45%             | 2026-02-15      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST SUPPLY HEADER                        | Southeast Supply Header LLC                                | CUSIP: 841504AB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5897000 | PA      | $5619133.36   | 0.36%             | 2024-06-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| METHANEX CORP                                  | Methanex Corp                                              | CUSIP: 59151KAL2<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |  10418000 | PA      | $9627273.80   | 0.62%             | 2029-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 13-1 A PASS T                       | American Airlines 2013-1 Class A Pass Through Trust        | CUSIP: 023772AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3239502 | PA      | $2947461.27   | 0.19%             | 2025-07-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Spirit AeroSystems Inc                         | Spirit AeroSystems Inc                                     | CUSIP: 85205TAG5<br>LEI: ZD2NBKV6GCC3UMGBM518 | Long             | DBT              | CORP              | US        |   4487000 | PA      | $4215222.41   | 0.27%             | 2026-06-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                             | CUSIP: 958254AL8<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   2822000 | PA      | $2451499.62   | 0.16%             | 2048-08-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Apache Corp                                    | Apache Corp                                                | CUSIP: 037411BC8<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   2589000 | PA      | $1913659.35   | 0.12%             | 2044-01-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| Trinity Industries Inc                         | Trinity Industries Inc                                     | CUSIP: 896522AH2<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | DBT              | CORP              | US        |   5987000 | PA      | $5788231.60   | 0.38%             | 2024-10-01      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| BUCKEYE PARTNERS                               | Buckeye Partners LP                                        | CUSIP: 118230AC5<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   1124000 | PA      | $1034136.20   | 0.07%             | 2033-08-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| FirstEnergy Corp                               | FirstEnergy Corp                                           | CUSIP: 337932AJ6<br>LEI: 549300SVYJS666PQJH88 | Long             | DBT              | CORP              | US        |   6810000 | PA      | $6281680.20   | 0.41%             | 2047-07-15      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| PACIFIC WESTERN BANK                           | Pacific Western Bank                                       | CUSIP: 69506YSC4<br>LEI: 549300A7DTSCJLJ33451 | Long             | SN               | CORP              | US        |   1500000 | PA      | $1435455.00   | 0.09%             | 2031-05-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| MIDLAND COGEN VENTURE                          | Midland Cogeneration Venture LP                            | CUSIP: 59748TAA7<br>LEI: A7EF7IZXZY5NPHMMPV49 | Long             | DBT              | CORP              | US        |    715225 | PA      | $729258.04    | 0.05%             | 2025-03-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |
| Fluor Corp                                     | Fluor Corp                                                 | CUSIP: 343412AC6<br>LEI: CQ7WZ4NOFWT7FAE6Q943 | Long             | DBT              | CORP              | US        |   5659000 | PA      | $5516789.33   | 0.36%             | 2024-12-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: —       |
| Bed Bath & Beyond Inc                          | Bed Bath & Beyond Inc                                      | CUSIP: 075896AB6<br>LEI: 529900ZBUWWUV7BKGX39 | Long             | DBT              | CORP              | US        |   2900000 | PA      | $124004.00    | 0.01%             | 2034-08-01      | Fixed         | 4.92%                 | No            |                  2 | On Loan: No      |
| Vodafone Group PLC                             | Vodafone Group PLC                                         | CUSIP: 92857WBQ2<br>LEI: 213800TB53ELEUKM7Q61 | Long             | DBT              | CORP              | GB        |  29792000 | PA      | $30716445.76  | 1.99%             | 2079-04-04      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| Avon Products Inc                              | Avon Products Inc                                          | CUSIP: 054303AZ5<br>LEI: 5493007RY69UEB1F1B45 | Long             | DBT              | CORP              | US        |   3272000 | PA      | $3252138.96   | 0.21%             | 2043-03-15      | Fixed         | 8.45%                 | No            |                  2 | On Loan: —       |
| Marks & Spencer PLC                            | Marks & Spencer PLC                                        | CUSIP: 57069PAA0<br>LEI: 213800CN1RI3UCIZWB95 | Long             | DBT              | CORP              | GB        |   4477000 | PA      | $4036866.13   | 0.26%             | 2037-12-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BRIGHTSPHERE INVESTMENT                        | Brightsphere Investment Group Inc                          | CUSIP: 10948WAA1<br>LEI: 5493004FTLQNQTBOP608 | Long             | DBT              | CORP              | US        |   4153000 | PA      | $3855603.67   | 0.25%             | 2026-07-27      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| Apache Corp                                    | Apache Corp                                                | CUSIP: 037411AM7<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   1772000 | PA      | $1765284.12   | 0.11%             | 2047-08-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| AMER AIRLINE 16-1 A PTT                        | American Airlines 2016-1 Class A Pass Through Trust        | CUSIP: 02376WAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2952346 | PA      | $2536449.09   | 0.16%             | 2028-01-15      | Fixed         | 4.10%                 | No            |                  2 | On Loan: —       |
| XEROX CORPORATION                              | Xerox Corp                                                 | CUSIP: 984121CJ0<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |   4407000 | PA      | $4257911.19   | 0.28%             | 2024-05-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| EQM MIDSTREAM PARTNERS L                       | EQM Midstream Partners LP                                  | CUSIP: 26885BAB6<br>LEI: 549300NELT611CL6XM83 | Long             | DBT              | CORP              | US        |   7445000 | PA      | $6759538.85   | 0.44%             | 2026-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| CARNIVAL PLC                                   | Carnival PLC                                               | CUSIP: 693070AD6<br>LEI: 4DR1VPDQMHD3N3QW8W95 | Long             | DBT              | CORP              | GB        |   2894000 | PA      | $2873394.72   | 0.19%             | 2027-06-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| HOWMET AEROSPACE INC                           | Howmet Aerospace Inc                                       | CUSIP: 443201AA6<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |   8381000 | PA      | $8625976.63   | 0.56%             | 2025-05-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: —       |
| FORD MOTOR COMPANY                             | Ford Motor Co                                              | CUSIP: 345370BR0<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   1100000 | PA      | $1134221.00   | 0.07%             | 2046-11-01      | Fixed         | 7.40%                 | No            |                  2 | On Loan: —       |
| Apache Corp                                    | Apache Corp                                                | CUSIP: 037411AW5<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |  15180000 | PA      | $13240147.80  | 0.86%             | 2040-09-01      | Fixed         | 5.10%                 | No            |                  2 | On Loan: —       |
| HOWMET AEROSPACE INC                           | Howmet Aerospace Inc                                       | CUSIP: 022249AU0<br>LEI: 549300HO5WFZUT5N2T22 | Long             | DBT              | CORP              | US        |   4227000 | PA      | $4433573.49   | 0.29%             | 2028-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                  | CUSIP: 674599DE2<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   2565000 | PA      | $2905580.70   | 0.19%             | 2031-09-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| Seagate HDD Cayman                             | Seagate HDD Cayman                                         | CUSIP: 81180WAT8<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   7277000 | PA      | $7202556.29   | 0.47%             | 2024-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| Apache Corp                                    | Apache Corp                                                | CUSIP: 037411AY1<br>LEI: 72ZZ1XRHOOU9P9X16K08 | Long             | DBT              | CORP              | US        |   4619000 | PA      | $3881622.84   | 0.25%             | 2042-02-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| Mattel Inc                                     | Mattel Inc                                                 | CUSIP: 577081AW2<br>LEI: 549300VELLG24KHTJ564 | Long             | DBT              | CORP              | US        |   4466000 | PA      | $3840313.40   | 0.25%             | 2041-11-01      | Fixed         | 5.45%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                   | CUSIP: 44106MAS1<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |   4717000 | PA      | $4606244.84   | 0.30%             | 2024-03-15      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| WILTON RE LTD                                  | Wilton RE Ltd                                              | CUSIP: 97263CAA9<br>LEI: 5493004VQ9VSL29MT373 | Long             | DBT              | CORP              | CA        |   2350000 | PA      | $2090724.50   | 0.14%             | 2030-10-22      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| DELTA AIR LINES INC                            | Delta Air Lines Inc                                        | CUSIP: 247361ZT8<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |   7055000 | PA      | $6241770.15   | 0.40%             | 2029-10-28      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                  | CUSIP: 674599DC6<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   6924000 | PA      | $6999194.64   | 0.45%             | 2026-03-15      | Fixed         | 5.55%                 | No            |                  2 | On Loan: —       |
| Toledo Hospital/The                            | Toledo Hospital/The                                        | CUSIP: 889184AC1<br>LEI: 5493009DCR7NWV6K4T34 | Long             | DBT              | CORP              | US        |   4300000 | PA      | $3509187.00   | 0.23%             | 2028-11-15      | Fixed         | 5.33%                 | No            |                  2 | On Loan: No      |
| TRAVEL + LEISURE CO                            | Travel + Leisure Co                                        | CUSIP: 98310WAP3<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |   4417000 | PA      | $4394517.47   | 0.28%             | 2024-04-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| OCCIDENTAL PETROLEUM COR                       | Occidental Petroleum Corp                                  | CUSIP: 674599DL6<br>LEI: IM7X0T3ECJW4C1T7ON55 | Long             | DBT              | CORP              | US        |   7526000 | PA      | $8015340.52   | 0.52%             | 2046-03-15      | Fixed         | 6.60%                 | No            |                  2 | On Loan: No      |
| AMER AIRLN 14-1 A PTT                          | American Airlines 2014-1 Class A Pass Through Trust        | CUSIP: 02377AAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7590439 | PA      | $6712604.89   | 0.44%             | 2026-10-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: —       |
| MBIA Inc                                       | MBIA Inc                                                   | CUSIP: 55262CAJ9<br>LEI: 54F1KGFE2KNP3VAL3P42 | Long             | DBT              | CORP              | US        |   3189000 | PA      | $3022151.52   | 0.20%             | 2034-12-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: —       |
| PERRIGO FINANCE UNLIMITE                       | Perrigo Finance Unlimited Co                               | CUSIP: 71429MAB1<br>LEI: 549300E86RB6YCTMRM83 | Long             | DBT              | CORP              | IE        |  10394000 | PA      | $9864529.64   | 0.64%             | 2026-03-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                   | CUSIP: 44106MAX0<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |   5451000 | PA      | $4154479.65   | 0.27%             | 2028-01-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: —       |
| LUMEN TECHNOLOGIES INC                         | Lumen Technologies Inc                                     | CUSIP: 156700AM8<br>LEI: 8M3THTGWLTYZVE6BBY25 | Long             | DBT              | CORP              | US        |   7592000 | PA      | $5128927.44   | 0.33%             | 2039-09-15      | Fixed         | 7.60%                 | No            |                  2 | On Loan: —       |
| Seagate HDD Cayman                             | Seagate HDD Cayman                                         | CUSIP: 81180WAN1<br>LEI: 529900BD50TRWEG1SF63 | Long             | DBT              | CORP              | KY        |   7289000 | PA      | $6687657.50   | 0.43%             | 2034-12-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR CREDIT CO LLC                       | Ford Motor Credit Co LLC                                   | CUSIP: 345397ZW6<br>LEI: UDSQCVRUX5BONN0VY111 | Long             | DBT              | CORP              | US        |   2202000 | PA      | $2092098.18   | 0.14%             | 2026-08-01      | Fixed         | 4.54%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                             | CUSIP: 958667AA5<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   7961000 | PA      | $6907520.87   | 0.45%             | 2050-02-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| Transocean Inc                                 | Transocean Inc                                             | CUSIP: 893830AF6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |   5905000 | PA      | $4538228.70   | 0.29%             | 2031-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| OHIO NAT FINANCIAL SRVS                        | Ohio National Financial Services Inc                       | CUSIP: 67740QAG1<br>LEI: 549300K609B872PZT291 | Long             | DBT              | CORP              | US        |   3750000 | PA      | $3672862.50   | 0.24%             | 2031-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| Nordstrom Inc                                  | Nordstrom Inc                                              | CUSIP: 655664AH3<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |   4470000 | PA      | $4338716.10   | 0.28%             | 2028-03-15      | Fixed         | 6.95%                 | No            |                  2 | On Loan: —       |
| MACY'S RETAIL HLDGS LLC                        | Macy's Retail Holdings LLC                                 | CUSIP: 55616XAJ6<br>LEI: 549300JMONK27O4SQQ19 | Long             | DBT              | CORP              | US        |   3768000 | PA      | $2332392.00   | 0.15%             | 2043-02-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| FORD MOTOR COMPANY                             | Ford Motor Co                                              | CUSIP: 345370CA6<br>LEI: 20S05OYHG0MQM4VUIC57 | Long             | DBT              | CORP              | US        |   2856000 | PA      | $3064659.36   | 0.20%             | 2031-07-16      | Fixed         | 7.45%                 | No            |                  2 | On Loan: —       |
| HILLENBRAND INC                                | Hillenbrand Inc                                            | CUSIP: 431571AB4<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |   5610000 | PA      | $5456959.20   | 0.35%             | 2026-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| OFFICE PPTY INCOME TRST                        | Office Properties Income Trust                             | CUSIP: 67623CAF6<br>LEI: N/A                  | Long             | DBT              |  | US        |   5934000 | PA      | $4132022.22   | 0.27%             | 2031-10-15      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| ROCKIES EXPRESS PIPELINE                       | Rockies Express Pipeline LLC                               | CUSIP: 77340RAS6<br>LEI: W2ZGZGZKY5GGNY6F3V51 | Long             | DBT              | CORP              | US        |   5956000 | PA      | $5650397.64   | 0.37%             | 2025-05-15      | Fixed         | 3.60%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                            | Buckeye Partners LP                                        | CUSIP: 118230AN1<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |   4551000 | PA      | $4415198.16   | 0.29%             | 2024-10-15      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| ZF NA CAPITAL                                  | ZF North America Capital Inc                               | CUSIP: 98877DAC9<br>LEI: 529900JYGMS9CW9IQX78 | Long             | DBT              | CORP              | US        |  16053000 | PA      | $15521485.17  | 1.01%             | 2025-04-29      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OFFICE PPTY INCOME TRST                        | Office Properties Income Trust                             | CUSIP: 67623CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   5205000 | PA      | $3983074.20   | 0.26%             | 2027-02-01      | Fixed         | 2.40%                 | 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        |   6170000 | NS      | $6170000.00   | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Pitney Bowes Inc                               | Pitney Bowes Inc                                           | CUSIP: 724479AJ9<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |   3582000 | PA      | $3544783.02   | 0.23%             | 2024-03-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| LEVEL 3 FINANCING INC                          | Level 3 Financing Inc                                      | CUSIP: 527298BQ5<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |  11175000 | PA      | $9053426.25   | 0.59%             | 2029-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| WESTERN MIDSTREAM OPERAT                       | Western Midstream Operating LP                             | CUSIP: 958667AB3<br>LEI: L6D8A6MLSY454J2JXJ60 | Long             | DBT              | CORP              | US        |   5910000 | PA      | $5642749.80   | 0.37%             | 2025-02-01      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| QVC INC                                        | QVC Inc                                                    | CUSIP: 747262AY9<br>LEI: 549300WBLU5NKPX5X472 | Long             | DBT              | CORP              | US        |   8510000 | PA      | $6451431.00   | 0.42%             | 2027-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| TELECOM ITALIA CAPITAL                         | Telecom Italia Capital SA                                  | CUSIP: 87927VAM0<br>LEI: 549300777DJZOR5C4L39 | Long             | DBT              | CORP              | LU        |  13561000 | PA      | $10884058.60  | 0.71%             | 2034-09-30      | Fixed         | 6.00%                 | No            |                  2 | On Loan: —       |

### Signature

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

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer