# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001410368-25-010261
**Filing Date:** 2025-9
**Character Count:** 118436
**Document Hash:** e6540b5d38e596685d81e4141e4a0934
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-010261.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0001410368-25-010261

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250731

**FILED AS OF DATE**: 20250924

**DATE AS OF CHANGE**: 20250924

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** iSHARES TRUST
- **CENTRAL INDEX KEY:** 0001100663

**ORGANIZATION NAME:**
- **EIN:** 943351276
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-09729
- **FILM NUMBER:** 251338752

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

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

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

## Series and Classes Contracts Data

### iShares iBonds 2027 Term High Yield and Income ETF (Series ID: S000072335)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000228465 | iShares iBonds 2027 Term High Yield and Income ETF | IBHG            |

## Nport-Ex

Schedule of Investments (unaudited)

July 31, 2025

**iShares® iBonds® 2027 Term High Yield and Income ETF**

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

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Corporate Bonds & Notes** | **Corporate Bonds & Notes** | **Corporate Bonds & Notes** |
| **Advertising — 1.3%** | **Advertising — 1.3%** | **Advertising — 1.3%** |
| &nbsp;&nbsp;&nbsp; Clear Channel Outdoor Holdings Inc., 5.13%, <br> 08/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; $2846 | $2842099 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp., 5.00%, 08/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1561 | 1545843 |
|  |  | 4387942 |
| **Aerospace & Defense — 0.4%** | **Aerospace & Defense — 0.4%** | **Aerospace & Defense — 0.4%** |
| Moog Inc., 4.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1206 | 1179263 |
| **Agriculture — 0.4%** | **Agriculture — 0.4%** | **Agriculture — 0.4%** |
| Darling Ingredients Inc., 5.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1205 | 1203100 |
| **Airlines — 0.8%** | **Airlines — 0.8%** | **Airlines — 0.8%** |
| Allegiant Travel Co., 7.25%, 08/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1327 | 1327814 |
| &nbsp;&nbsp;&nbsp; VistaJet Malta Finance PLC/Vista Management <br> Holding Inc., 7.88%, 05/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 1193 | 1197083 |
|  |  | 2524897 |
| **Apparel — 0.7%** | **Apparel — 0.7%** | **Apparel — 0.7%** |
| VF Corp., 2.80%, 04/23/27 | &nbsp;&nbsp;&nbsp; 1198 | 1143873 |
| William Carter Co. (The), 5.63%, 03/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1217 | 1208115 |
|  |  | 2351988 |
| **Auto Manufacturers — 2.7%** | **Auto Manufacturers — 2.7%** | **Auto Manufacturers — 2.7%** |
| Allison Transmission Inc., 4.75%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 991 | 981475 |
| &nbsp;&nbsp;&nbsp; Jaguar Land Rover Automotive PLC, 4.50%, <br> 10/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 1181 | 1161437 |
| &nbsp;&nbsp;&nbsp; Nissan Motor Acceptance Co. LLC, 5.30%, <br> 09/13/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 971 | 963654 |
| Nissan Motor Co. Ltd., 4.35%, 09/17/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6030 | 5873935 |
|  |  | 8980501 |
| **Auto Parts & Equipment — 2.8%** | **Auto Parts & Equipment — 2.8%** | **Auto Parts & Equipment — 2.8%** |
| &nbsp;&nbsp;&nbsp; American Axle & Manufacturing Inc., 6.50%, <br> 04/01/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 1181 | 1182467 |
| &nbsp;&nbsp;&nbsp; Clarios Global LP/Clarios U.S. Finance Co., 8.50%, <br> 05/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 4700 | 4725677 |
| &nbsp;&nbsp;&nbsp; Cooper-Standard Automotive Inc., 5.63%, 05/15/27, <br> (5.63% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 936 | 806417 |
| Dana Inc., 5.38%, 11/15/27 | &nbsp;&nbsp;&nbsp; 960 | 959396 |
| &nbsp;&nbsp;&nbsp; Goodyear Tire & Rubber Co. (The), 4.88%, <br> 03/15/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 1676 | 1668476 |
|  |  | 9342433 |
| **Banks — 0.4%** | **Banks — 0.4%** | **Banks — 0.4%** |
| Freedom Mortgage Corp., 6.63%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1278 | 1278515 |
| **Building Materials — 0.9%** | **Building Materials — 0.9%** | **Building Materials — 0.9%** |
| Jeld-Wen Inc., 4.88%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 961 | 911243 |
| Standard Industries Inc./New York, 5.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1929 | 1928988 |
|  |  | 2840231 |
| **Chemicals — 3.6%** | **Chemicals — 3.6%** | **Chemicals — 3.6%** |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems LLC/Axalta Coating Systems <br> Dutch Holding B BV, 4.75%, 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1281 | 1269843 |
| Celanese U.S. Holdings LLC, 6.67%, 07/15/27 | &nbsp;&nbsp;&nbsp; 3593 | 3686128 |
| Chemours Co. (The), 5.38%, 05/15/27 | &nbsp;&nbsp;&nbsp; 1193 | 1168074 |
| HB Fuller Co., 4.00%, 02/15/27 | &nbsp;&nbsp;&nbsp; 711 | 697965 |
| Methanex Corp., 5.13%, 10/15/27 | &nbsp;&nbsp;&nbsp; 1696 | 1689702 |
| &nbsp;&nbsp;&nbsp; Olympus Water U.S. Holding Corp., 7.13%, <br> 10/01/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 730 | 741745 |
| SNF Group SACA, 3.13%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 909 | 877004 |
| WR Grace Holdings LLC, 4.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1788 | 1778027 |
|  |  | 11908488 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services — 5.6%** | **Commercial Services — 5.6%** | **Commercial Services — 5.6%** |
| AMN Healthcare Inc., 4.63%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $1221 | $1193483 |
| Avis Budget Car Rental LLC/Avis Budget Finance Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 836 | 831016 |
| &nbsp;&nbsp;&nbsp; 5.75%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 727 | 723404 |
| Brink's Co. (The), 4.63%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1435 | 1414589 |
| Garda World Security Corp., 4.63%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1362 | 1348683 |
| Herc Holdings Inc., 5.50%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2875 | 2863306 |
| Korn Ferry, 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 976 | 960128 |
| Matthews International Corp., 8.63%, 10/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 729 | 758859 |
| &nbsp;&nbsp;&nbsp; Prime Security Services Borrower LLC/Prime <br> Finance Inc., 3.38%, 08/31/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 2416 | 2332073 |
| Service Corp. International/U.S., 4.63%, 12/15/27 | &nbsp;&nbsp;&nbsp; 1318 | 1305446 |
| Sotheby's, 7.38%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1852 | 1829883 |
| United Rentals North America Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 3.88%, 11/15/27 | &nbsp;&nbsp;&nbsp; 1803 | 1757770 |
| &nbsp;&nbsp;&nbsp; 5.50%, 05/15/27 | &nbsp;&nbsp;&nbsp; 1193 | 1192974 |
|  |  | 18511614 |
| **Diversified Financial Services — 4.3%** | **Diversified Financial Services — 4.3%** | **Diversified Financial Services — 4.3%** |
| AG TTMT Escrow Issuer LLC, 8.63%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1193 | 1225103 |
| GGAM Finance Ltd., 8.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1676 | 1726696 |
| Global Aircraft Leasing Co. Ltd., 8.75%, 09/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 2548 | 2625961 |
| LD Holdings Group LLC, 8.75%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 803 | 752732 |
| &nbsp;&nbsp;&nbsp; Nationstar Mortgage Holdings Inc., 6.00%, <br> 01/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1440 | 1441494 |
| Navient Corp., 5.00%, 03/15/27 | &nbsp;&nbsp;&nbsp; 1678 | 1659275 |
| OneMain Finance Corp., 3.50%, 01/15/27 | &nbsp;&nbsp;&nbsp; 1797 | 1753448 |
| Osaic Holdings Inc., 10.75%, 08/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 786 | 786000 |
| &nbsp;&nbsp;&nbsp; Oxford Finance LLC/Oxford Finance Co-Issuer II Inc., <br> 6.38%, 02/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 980 | 979436 |
| United Wholesale Mortgage LLC, 5.75%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1202 | 1202771 |
|  |  | 14152916 |
| **Electric — 2.3%** | **Electric — 2.3%** | **Electric — 2.3%** |
| Vistra Operations Co. LLC |  |  |
| &nbsp;&nbsp;&nbsp; 5.00%, 07/31/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3146 | 3130313 |
| &nbsp;&nbsp;&nbsp; 5.63%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3111 | 3107261 |
| &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP, 4.50%, <br> 09/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1324 | 1284550 |
|  |  | 7522124 |
| **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** | **Electrical Components & Equipment — 0.2%** |
| EnerSys, 4.38%, 12/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 740 | 726942 |
| **Entertainment — 5.2%** | **Entertainment — 5.2%** | **Entertainment — 5.2%** |
| Brightstar Lottery PLC, 6.25%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1763 | 1780987 |
| Churchill Downs Inc., 5.50%, 04/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1455 | 1452750 |
| Live Nation Entertainment Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.75%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 2279 | 2244284 |
| &nbsp;&nbsp;&nbsp; 6.50%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2879 | 2911680 |
| Motion Bondco DAC, 6.63%, 11/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 948 | 902484 |
| Odeon Finco PLC, 12.75%, 11/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 961 | 1002730 |
| Penn Entertainment Inc., 5.63%, 01/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 957 | 952275 |
| &nbsp;&nbsp;&nbsp; Six Flags Entertainment Corp./Canada's Wonderland <br> Co./Magnum Management Corp., 5.38%, 04/15/27<br>| &nbsp;&nbsp;&nbsp; 1233 | 1229968 |
| Six Flags Entertainment Corp./DE, 5.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1201 | 1198564 |
| &nbsp;&nbsp;&nbsp; Speedway Motorsports LLC/Speedway Funding <br> II Inc., 4.88%, 11/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 831 | 822037 |
| Warnermedia Holdings Inc., 3.76%, 03/15/27 | &nbsp;&nbsp;&nbsp; 2838 | 2781291 |
|  |  | 17279050 |
| **Environmental Control — 0.7%** | **Environmental Control — 0.7%** | **Environmental Control — 0.7%** |
| Clean Harbors Inc., 4.88%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1309 | 1298114 |

---

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**iShares® iBonds® 2027 Term High Yield and Income ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Environmental Control (continued)** | **Environmental Control (continued)** | **Environmental Control (continued)** |
| Enviri Corp., 5.75%, 07/31/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $1134 | $1115254 |
|  |  | 2413368 |
| **Food — 2.1%** | **Food — 2.1%** | **Food — 2.1%** |
| &nbsp;&nbsp;&nbsp; Albertsons Companies Inc./Safeway Inc./New <br> Albertsons LP/Albertsons LLC, 4.63%, <br> 01/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 3237 | 3212637 |
| B&G Foods Inc., 5.25%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1289 | 1143520 |
| Performance Food Group Inc., 5.50%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2536 | 2533440 |
|  |  | 6889597 |
| **Gas — 0.4%** | **Gas — 0.4%** | **Gas — 0.4%** |
| &nbsp;&nbsp;&nbsp; AmeriGas Partners LP/AmeriGas Finance Corp., <br> 5.75%, 05/20/27<br>| &nbsp;&nbsp;&nbsp; 1253 | 1245600 |
| **Health Care - Products — 0.6%** | **Health Care - Products — 0.6%** | **Health Care - Products — 0.6%** |
| Teleflex Inc., 4.63%, 11/15/27 | &nbsp;&nbsp;&nbsp; 1228 | 1208304 |
| Varex Imaging Corp., 7.88%, 10/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 885 | 896375 |
|  |  | 2104679 |
| **Health Care - Services — 4.2%** | **Health Care - Services — 4.2%** | **Health Care - Services — 4.2%** |
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., 5.63%, <br> 03/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 4206 | 4213045 |
| IQVIA Inc., 5.00%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2690 | 2675126 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 5.13%, 11/01/27 | &nbsp;&nbsp;&nbsp; 3595 | 3581779 |
| &nbsp;&nbsp;&nbsp; 6.25%, 02/01/27 | &nbsp;&nbsp;&nbsp; 3599 | 3600922 |
|  |  | 14070872 |
| **Holding Companies - Diversified — 1.0%** | **Holding Companies - Diversified — 1.0%** | **Holding Companies - Diversified — 1.0%** |
| &nbsp;&nbsp;&nbsp; Icahn Enterprises LP/Icahn Enterprises Finance <br> Corp., 5.25%, 05/15/27<br>| &nbsp;&nbsp;&nbsp; 3476 | 3386745 |
| **Home Builders — 2.2%** | **Home Builders — 2.2%** | **Home Builders — 2.2%** |
| Beazer Homes USA Inc., 5.88%, 10/15/27 | &nbsp;&nbsp;&nbsp; 855 | 852834 |
| &nbsp;&nbsp;&nbsp; Brookfield Residential Properties Inc./Brookfield <br> Residential U.S. LLC, 6.25%, 09/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 1460 | 1457863 |
| Century Communities Inc., 6.75%, 06/01/27 | &nbsp;&nbsp;&nbsp; 1193 | 1193718 |
| KB Home, 6.88%, 06/15/27 | &nbsp;&nbsp;&nbsp; 735 | 750865 |
| Mattamy Group Corp., 5.25%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1232 | 1225199 |
| Taylor Morrison Communities Inc., 5.88%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1213 | 1222799 |
| Tri Pointe Homes Inc., 5.25%, 06/01/27 | &nbsp;&nbsp;&nbsp; 720 | 717066 |
|  |  | 7420344 |
| **Housewares — 0.4%** | **Housewares — 0.4%** | **Housewares — 0.4%** |
| Newell Brands Inc., 6.38%, 09/15/27<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1208 | 1223552 |
| **Insurance — 1.5%** | **Insurance — 1.5%** | **Insurance — 1.5%** |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co-Issuer<br>|  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1807 | 1769003 |
| &nbsp;&nbsp;&nbsp; 6.75%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3272 | 3280170 |
|  |  | 5049173 |
| **Internet — 4.3%** | **Internet — 4.3%** | **Internet — 4.3%** |
| Cablevision Lightpath LLC, 3.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1064 | 1053269 |
| &nbsp;&nbsp;&nbsp; Cogent Communications Group Inc./Cogent <br> Communications Finance Inc.<br>|  |  |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 750 | 752230 |
| &nbsp;&nbsp;&nbsp; 7.00%, 06/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1097 | 1098939 |
| Gen Digital Inc., 6.75%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2180 | 2216825 |
| Getty Images Inc., 9.75%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 720 | 700835 |
| &nbsp;&nbsp;&nbsp; Go Daddy Operating Co. LLC/GD Finance Co. Inc., <br> 5.25%, 12/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1441 | 1435359 |
| GrubHub Holdings Inc., 5.50%, 07/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1193 | 1167351 |
| Match Group Holdings II LLC, 5.00%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1087 | 1078167 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Internet (continued)** | **Internet (continued)** | **Internet (continued)** |
| Rakuten Group Inc., 11.25%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $4405 | $4772847 |
|  |  | 14275822 |
| **Iron & Steel — 1.6%** | **Iron & Steel — 1.6%** | **Iron & Steel — 1.6%** |
| ATI Inc., 5.88%, 12/01/27 | &nbsp;&nbsp;&nbsp; 837 | 835587 |
| Cleveland-Cliffs Inc., 5.88%, 06/01/27<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 1320 | 1321449 |
| Mineral Resources Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 8.00%, 11/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1517 | 1535801 |
| &nbsp;&nbsp;&nbsp; 8.13%, 05/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1681 | 1685961 |
|  |  | 5378798 |
| **Leisure Time — 2.1%** | **Leisure Time — 2.1%** | **Leisure Time — 2.1%** |
| Carnival Corp., 5.75%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 773 | 780134 |
| Lindblad Expeditions LLC, 6.75%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 862 | 863746 |
| NCL Corp. Ltd., 5.88%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2413 | 2419019 |
| Sabre GLBL Inc., 8.63%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 794 | 806422 |
| Viking Cruises Ltd., 5.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1981 | 1978602 |
|  |  | 6847923 |
| **Lodging — 4.4%** | **Lodging — 4.4%** | **Lodging — 4.4%** |
| Boyd Gaming Corp., 4.75%, 12/01/27 | &nbsp;&nbsp;&nbsp; 2400 | 2379919 |
| &nbsp;&nbsp;&nbsp; Hilton Worldwide Finance LLC/Hilton Worldwide <br> Finance Corp., 4.88%, 04/01/27<br>| &nbsp;&nbsp;&nbsp; 1435 | 1431791 |
| Melco Resorts Finance Ltd., 5.63%, 07/17/27<sup>(d)</sup> | &nbsp;&nbsp;&nbsp; 1512 | 1508829 |
| MGM China Holdings Ltd., 4.75%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1794 | 1777886 |
| MGM Resorts International, 5.50%, 04/15/27 | &nbsp;&nbsp;&nbsp; 1615 | 1620648 |
| Studio City Co. Ltd., 7.00%, 02/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 842 | 847993 |
| Travel & Leisure Co., 6.00%, 04/01/27 | &nbsp;&nbsp;&nbsp; 986 | 993191 |
| &nbsp;&nbsp;&nbsp; Wynn Las Vegas LLC/Wynn Las Vegas Capital Corp., <br> 5.25%, 05/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 2194 | 2191171 |
| Wynn Macau Ltd., 5.50%, 10/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1810 | 1803837 |
|  |  | 14555265 |
| **Machinery — 1.1%** | **Machinery — 1.1%** | **Machinery — 1.1%** |
| TK Elevator U.S. Newco Inc., 5.25%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3736 | 3722257 |
| **Media — 11.9%** | **Media — 11.9%** | **Media — 11.9%** |
| &nbsp;&nbsp;&nbsp; CCO Holdings LLC/CCO Holdings Capital Corp., <br> 5.13%, 05/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 7837 | 7772551 |
| CSC Holdings LLC, 5.50%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3205 | 3103176 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC/Directv Financing <br> Co-Obligor Inc., 5.88%, 08/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 9009 | 8954541 |
| DISH Network Corp., 11.75%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 8436 | 8783655 |
| &nbsp;&nbsp;&nbsp; LCPR Senior Secured Financing DAC, 6.75%, <br> 10/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 2788 | 2138291 |
| Nexstar Media Inc., 5.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4109 | 4101897 |
| Scripps Escrow Inc., 5.88%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 966 | 966000 |
| Sirius XM Radio Inc., 5.00%, 08/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3589 | 3549504 |
|  |  | 39369615 |
| **Metal Fabricate & Hardware — 0.5%** | **Metal Fabricate & Hardware — 0.5%** | **Metal Fabricate & Hardware — 0.5%** |
| Advanced Drainage Systems Inc., 5.00%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 836 | 827257 |
| Park-Ohio Industries Inc., 6.63%, 04/15/27<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 759 | 759134 |
|  |  | 1586391 |
| **Mining — 0.4%** | **Mining — 0.4%** | **Mining — 0.4%** |
| Fortescue Treasury Pty. Ltd., 4.50%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1435 | 1408804 |
| **Office & Business Equipment — 0.3%** | **Office & Business Equipment — 0.3%** | **Office & Business Equipment — 0.3%** |
| Pitney Bowes Inc., 6.88%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 908 | 909765 |
| **Oil & Gas — 3.6%** | **Oil & Gas — 3.6%** | **Oil & Gas — 3.6%** |
| &nbsp;&nbsp;&nbsp; Ascent Resources Utica Holdings LLC/ARU Finance <br> Corp., 9.00%, 11/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 836 | 1017175 |
| &nbsp;&nbsp;&nbsp; Calumet Specialty Products Partners LP/Calumet <br> Finance Corp., 8.13%, 01/15/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 765 | 757065 |

---

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**iShares® iBonds® 2027 Term High Yield and Income ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Oil & Gas (continued)** | **Oil & Gas (continued)** | **Oil & Gas (continued)** |
| EnQuest PLC, 11.63%, 11/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $1057 | $1083780 |
| Nabors Industries Inc., 7.38%, 05/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1696 | 1711342 |
| Parkland Corp., 5.88%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1198 | 1199213 |
| &nbsp;&nbsp;&nbsp; Permian Resources Operating LLC, 8.00%, <br> 04/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1319 | 1348171 |
| SM Energy Co., 6.63%, 01/15/27 | &nbsp;&nbsp;&nbsp; 994 | 993206 |
| Sunoco LP/Sunoco Finance Corp., 6.00%, 04/15/27 | &nbsp;&nbsp;&nbsp; 1430 | 1429180 |
| Transocean Inc., 8.00%, 02/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1605 | 1592760 |
| Transocean Poseidon Ltd., 6.88%, 02/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 676 | 676489 |
|  |  | 11808381 |
| **Oil & Gas Services — 1.2%** | **Oil & Gas Services — 1.2%** | **Oil & Gas Services — 1.2%** |
| &nbsp;&nbsp;&nbsp; Archrock Partners LP/Archrock Partners Finance <br> Corp., 6.88%, 04/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 720 | 720364 |
| Enerflex Ltd., 9.00%, 10/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1343 | 1383315 |
| &nbsp;&nbsp;&nbsp; USA Compression Partners LP/USA Compression <br> Finance Corp., 6.88%, 09/01/27<br>| &nbsp;&nbsp;&nbsp; 1821 | 1820635 |
|  |  | 3924314 |
| **Packaging & Containers — 4.7%** | **Packaging & Containers — 4.7%** | **Packaging & Containers — 4.7%** |
| &nbsp;&nbsp;&nbsp; Ardagh Metal Packaging Finance USA LLC/Ardagh <br> Metal Packaging Finance PLC, 6.00%, 06/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1382 | 1383398 |
| &nbsp;&nbsp;&nbsp; Graphic Packaging International LLC, 4.75%, <br> 07/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 705 | 694191 |
| LABL Inc., 10.50%, 07/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1682 | 1585661 |
| Mauser Packaging Solutions Holding Co. |  |  |
| &nbsp;&nbsp;&nbsp; 7.88%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 6365 | 6433183 |
| &nbsp;&nbsp;&nbsp; 9.25%, 04/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 3179 | 3144589 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container Inc., 6.63%, <br> 05/13/27<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 1467 | 1468222 |
| Sealed Air Corp., 4.00%, 12/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1026 | 996318 |
|  |  | 15705562 |
| **Pipelines — 1.9%** | **Pipelines — 1.9%** | **Pipelines — 1.9%** |
| &nbsp;&nbsp;&nbsp; Antero Midstream Partners LP/Antero Midstream <br> Finance Corp., 5.75%, 03/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1555 | 1555983 |
| Buckeye Partners LP, 4.13%, 12/01/27 | &nbsp;&nbsp;&nbsp; 967 | 943617 |
| FTAI Infra Escrow Holdings LLC, 10.50%, 06/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1442 | 1485490 |
| NuStar Logistics LP, 5.63%, 04/28/27 | &nbsp;&nbsp;&nbsp; 1324 | 1330597 |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy <br> Finance Corp., 6.00%, 03/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1064 | 1060784 |
|  |  | 6376471 |
| **Real Estate Investment Trusts — 6.2%** | **Real Estate Investment Trusts — 6.2%** | **Real Estate Investment Trusts — 6.2%** |
| Blackstone Mortgage Trust Inc., 3.75%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 801 | 777179 |
| &nbsp;&nbsp;&nbsp; Brandywine Operating Partnership LP, 3.95%, <br> 11/15/27<br>| &nbsp;&nbsp;&nbsp; 1091 | 1051929 |
| &nbsp;&nbsp;&nbsp; Brookfield Property REIT Inc./BPR Cumulus LLC/BPR <br> Nimbus LLC/GGSI Sellco LLC, 4.50%, 04/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1817 | 1766826 |
| &nbsp;&nbsp;&nbsp; Global Net Lease Inc./Global Net Lease Operating <br> Partnership LP, 3.75%, 12/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1212 | 1157468 |
| Hudson Pacific Properties LP, 3.95%, 11/01/27 | &nbsp;&nbsp;&nbsp; 976 | 923206 |
| Iron Mountain Inc., 4.88%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 2391 | 2373184 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., <br> 5.00%, 10/15/27<sup>(b)</sup><br>| &nbsp;&nbsp;&nbsp; 3357 | 3079590 |
| Office Properties Income Trust, 3.25%, 03/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1024 | 844080 |
| &nbsp;&nbsp;&nbsp; RHP Hotel Properties LP/RHP Finance Corp., 4.75%, <br> 10/15/27<br>| &nbsp;&nbsp;&nbsp; 1680 | 1663640 |
| SBA Communications Corp., 3.88%, 02/15/27 | &nbsp;&nbsp;&nbsp; 3691 | 3625255 |
| Service Properties Trust |  |  |
| &nbsp;&nbsp;&nbsp; 4.95%, 02/15/27 | &nbsp;&nbsp;&nbsp; 956 | 932815 |
| &nbsp;&nbsp;&nbsp; 5.50%, 12/15/27 | &nbsp;&nbsp;&nbsp; 1067 | 1051722 |
| Starwood Property Trust Inc., 4.38%, 01/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1223 | 1203001 |
|  |  | 20449895 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Retail — 2.5%** | **Retail — 2.5%** | **Retail — 2.5%** |
| Academy Ltd., 6.00%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $961 | $961618 |
| Advance Auto Parts Inc., 1.75%, 10/01/27 | &nbsp;&nbsp;&nbsp; 836 | 769852 |
| Bath & Body Works Inc., 6.69%, 01/15/27 | &nbsp;&nbsp;&nbsp; 686 | 703123 |
| &nbsp;&nbsp;&nbsp; BCPE Ulysses Intermediate Inc., 7.75%, 04/01/27, <br> (7.75% PIK)<sup>(a)(b)(c)</sup><br>| &nbsp;&nbsp;&nbsp; 658 | 657888 |
| &nbsp;&nbsp;&nbsp; KFC Holding Co./Pizza Hut Holdings LLC/Taco Bell of <br> America LLC, 4.75%, 06/01/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 1802 | 1792677 |
| Lithia Motors Inc., 4.63%, 12/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 991 | 976253 |
| Murphy Oil USA Inc., 5.63%, 05/01/27 | &nbsp;&nbsp;&nbsp; 715 | 713607 |
| Nordstrom Inc., 4.00%, 03/15/27 | &nbsp;&nbsp;&nbsp; 846 | 826296 |
| &nbsp;&nbsp;&nbsp; Suburban Propane Partners LP/Suburban Energy <br> Finance Corp., 5.88%, 03/01/27<br>| &nbsp;&nbsp;&nbsp; 836 | 832972 |
|  |  | 8234286 |
| **Semiconductors — 0.4%** | **Semiconductors — 0.4%** | **Semiconductors — 0.4%** |
| Amkor Technology Inc., 6.63%, 09/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1283 | 1281048 |
| **Software — 1.5%** | **Software — 1.5%** | **Software — 1.5%** |
| SS&C Technologies Inc., 5.50%, 09/30/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 4827 | 4827244 |
| West Technology Group LLC, 8.50%, 04/10/27<sup>(a)(e)</sup> | &nbsp;&nbsp;&nbsp; 786 | 219750 |
|  |  | 5046994 |
| **Telecommunications — 3.2%** | **Telecommunications — 3.2%** | **Telecommunications — 3.2%** |
| Altice Financing SA, 9.63%, 07/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1025 | 940940 |
| CommScope LLC, 8.25%, 03/01/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 2072 | 2073107 |
| CommScope Technologies LLC, 5.00%, 03/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1797 | 1758937 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC, 5.88%, <br> 10/15/27<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 2753 | 2753683 |
| Viasat Inc., 5.63%, 04/15/27<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 1478 | 1472595 |
| Zayo Group Holdings Inc., 4.00%, 03/01/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 1594 | 1515519 |
|  |  | 10514781 |
| **Transportation — 0.3%** | **Transportation — 0.3%** | **Transportation — 0.3%** |
| RXO Inc., 7.50%, 11/15/27<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 863 | 880801 |
| **Total Long-Term Investments — 96.8%** <br>**(Cost: $317,772,656)** | **Total Long-Term Investments — 96.8%** <br>**(Cost: $317,772,656)** | 320271107 |
|  | &nbsp;&nbsp; *Shares* |  |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 13.6%** | **Money Market Funds — 13.6%** | **Money Market Funds — 13.6%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency <br> Shares, 4.44%<sup>(f)(g)(h)</sup><br>| &nbsp;&nbsp;&nbsp; 25437116 | 25447291 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.30%<sup>(f)(g)</sup><br>| &nbsp;&nbsp;&nbsp; 19740000 | 19740000 |
| **Total Short-Term Securities — 13.6%** <br>**(Cost: $45,185,498)** | **Total Short-Term Securities — 13.6%** <br>**(Cost: $45,185,498)** | 45187291 |
| **Total Investments — 110.4%** <br>**(Cost: $362,958,154)** | **Total Investments — 110.4%** <br>**(Cost: $362,958,154)** | 365458398 |
| **Liabilities in Excess of Other Assets — (10.4)%** | **Liabilities in Excess of Other Assets — (10.4)%** | (34436292)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $331022106 |

---

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

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

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

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

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

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**iShares® iBonds® 2027 Term High Yield and Income ETF**

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

<sup>(e)</sup> Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. <br> <sup>(f)</sup> Affiliate of the Fund. <br> <sup>(g)</sup> Annualized 7-day yield as of period end.

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

<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 July 31, 2025 for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| *Affiliated Issuer* | *Value at* <br>*10/31/24*<br>| &nbsp;&nbsp; *Proceeds* <br>*from Sales*<br>| *Net Realized* <br>*Gain (Loss)*<br>| *Change in* <br>*Unrealized* <br>*Appreciation* <br>*(Depreciation)*<br>| *Value at* <br>*07/31/25*<br>| *Shares* <br>*Held at* <br>*07/31/25*<br>| *Income* | &nbsp;&nbsp; *Capital* <br>*Gain* <br>*Distributions* <br>*from* <br>*Underlying* <br>*Funds*<br>|
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL <br> Agency Shares<br>| $20997097<br> $4457796 <br><sup>(a)</sup><br>| $— | $(2783)<br>| $(4819)<br>| $25447291 | 25437116 | $126835 <br><sup>(b)</sup><br>| $— |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| &nbsp;&nbsp;&nbsp; 4200000<br> 15540000 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp; 19740000 | 19740000 | &nbsp;&nbsp; 146431 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  | $(2783) | $(4819) | $45187291 |  | $273266 | $— |

---

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

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

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

**Fair Value Hierarchy as of Period End** 

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

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

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

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

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

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

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | *Level 1* | *Level 2* | *Level 3* | *Total* |
| Assets  |  |  |  |  |
| &nbsp;&nbsp;&nbsp; Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Long-Term Investments  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Corporate Bonds & Notes | &nbsp;&nbsp; $— | &nbsp;&nbsp; $320051357 | &nbsp;&nbsp; $219750 | &nbsp;&nbsp; $320271107 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Short-Term Securities  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Money Market Funds | &nbsp;&nbsp; 45187291 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 45187291 |
|  | &nbsp;&nbsp; $45187291 | &nbsp;&nbsp; $320051357 | &nbsp;&nbsp; $219750 | &nbsp;&nbsp; $365458398 |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| PIK | Payment-in-kind |
| REIT | Real Estate Investment Trust |

---

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**iShares® iBonds® 2027 Term High Yield and Income ETF**

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

------

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** San Francisco

  - **State:** CA

  - **Foreign country:** US

  - **Zip / Postal Code:** 94105

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

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

- **a. Name of Series:** iShares iBonds 2027 Term High Yield and Income ETF

- **b. EDGAR series identifier (if any):** S000072335

- **c. LEI of Series:** 5493002OU5L552ZLNH92

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

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-07-31

**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:** $382354858.46

**Total Liabilities:** $51296104.89

**Net Assets:** $331058753.57

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 2.88000000 | **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:** 1212.82000000 | **1-Year:** 33869.49000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000228465 | 1.12%                | 0.94%                | 0.63%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $141300.63               | $1410258.97                                |
| Month 2  | $178833.06               | $1035750.57                                |
| Month 3  | $187176.65               | $89529.78                                  |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| NATIONSTAR MTG HLD INC                         | Nationstar Mortgage Holdings Inc                                                 | CUSIP: 63861CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1300000 | PA      | $1301348.36   | 0.39%             | 2027-01-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PARKLAND CORP                                  | Parkland Corp                                                                    | CUSIP: 70137TAP0<br>LEI: 549300UY5C6HUV0XLS53 | Long             | DBT              | CORP              | CA        |   1058000 | PA      | $1059071.18   | 0.32%             | 2027-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Allison Transmission Inc                       | Allison Transmission Inc                                                         | CUSIP: 019736AE7<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    941000 | PA      | $931955.23    | 0.28%             | 2027-10-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLEGIANT TRAVEL CO                            | Allegiant Travel Co                                                              | CUSIP: 01748XAD4<br>LEI: 549300JM9OZXOHWL2K18 | Long             | DBT              | CORP              | US        |   1327000 | PA      | $1327813.84   | 0.40%             | 2027-08-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| MOOG INC                                       | Moog Inc                                                                         | CUSIP: 615394AM5<br>LEI: 549300WM2I4U7OBAHG07 | Long             | DBT              | CORP              | US        |   1156000 | PA      | $1130371.38   | 0.34%             | 2027-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                                         | CUSIP: 44106MAW2<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              | CORP              | US        |    846000 | PA      | $825482.47    | 0.25%             | 2027-02-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| ENQUEST PLC                                    | EnQuest PLC                                                                      | CUSIP: 29357JAC0<br>LEI: 2138008LJU6WFQWOXJ73 | Long             | DBT              | CORP              | GB        |   1057000 | PA      | $1083780.07   | 0.33%             | 2027-11-01      | Fixed         | 11.63%                | No            |                  2 | On Loan: No      |
| DISH NETWORK CORP                              | DISH Network Corp                                                                | CUSIP: 25470MAG4<br>LEI: 529900U350CWHH15G169 | Long             | DBT              | CORP              | US        |   7936000 | PA      | $8263050.10   | 2.50%             | 2027-11-15      | Fixed         | 11.75%                | No            |                  2 | On Loan: No      |
| HUDSON PACIFIC PROPERTIE                       | Hudson Pacific Properties LP                                                     | CUSIP: 44409MAA4<br>LEI: 5493007NTUGLGZ8T3526 | Long             | DBT              |  | US        |    926000 | PA      | $875910.27    | 0.26%             | 2027-11-01      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| SS&C Technologies Inc                          | SS&C Technologies Inc                                                            | CUSIP: 78466CAC0<br>LEI: 549300KY09TR3J12JU49 | Long             | DBT              | CORP              | US        |   4527000 | PA      | $4527228.70   | 1.37%             | 2027-09-30      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| VAREX IMAGING CORPORATIO                       | Varex Imaging Corp                                                               | CUSIP: 92214XAC0<br>LEI: 549300CWYWPVCT8E9W67 | Long             | DBT              | CORP              | US        |    805000 | PA      | $815346.91    | 0.25%             | 2027-10-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| AMERICAN AXLE & MFG INC                        | American Axle & Manufacturing Inc                                                | CUSIP: 02406PAU4<br>LEI: RY5TAKFOBLDUGX31MS24 | Long             | DBT              | CORP              | US        |   1181000 | PA      | $1182466.90   | 0.36%             | 2027-04-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: —       |
| AG TTMT ESCROW ISSUER                          | AG TTMT Escrow Issuer LLC                                                        | CUSIP: 00840KAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1063000 | PA      | $1091605.01   | 0.33%             | 2027-09-30      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                         | Cogent Communications Group LLC / Cogent Finance Inc                             | CUSIP: 19240CAE3<br>LEI: 549300KFWFYF8Q1U0Y26 | Long             | DBT              | CORP              | US        |   1097000 | PA      | $1098939.16   | 0.33%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                        | United Rentals North America Inc                                                 | CUSIP: 911365BF0<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1043000 | PA      | $1042977.31   | 0.32%             | 2027-05-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TALLGRASS NRG PRTNR/FIN                        | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                     | CUSIP: 87470LAG6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1014000 | PA      | $1010935.42   | 0.31%             | 2027-03-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| MATTAMY GROUP CORP                             | Mattamy Group Corp                                                               | CUSIP: 57701RAJ1<br>LEI: 5493008TNY7A82WCXU31 | Long             | DBT              | CORP              | CA        |   1182000 | PA      | $1175475.24   | 0.36%             | 2027-12-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AXALTA COAT/DUTCH HLD BV                       | Axalta Coating Systems LLC / Axalta Coating Systems Dutch Holding B BV           | CUSIP: 05454NAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1131000 | PA      | $1121149.47   | 0.34%             | 2027-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                     | CUSIP: 1248EPBT9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   7337000 | PA      | $7276662.71   | 2.20%             | 2027-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                          | Tenet Healthcare Corp                                                            | CUSIP: 88033GDS6<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3099000 | PA      | $3100655.30   | 0.94%             | 2027-02-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| ADVANCE AUTO PARTS                             | Advance Auto Parts Inc                                                           | CUSIP: 00751YAF3<br>LEI: 529900UCNQ5H9FSL0Y70 | Long             | DBT              | CORP              | US        |    776000 | PA      | $714599.73    | 0.22%             | 2027-10-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| OSAIC HOLDINGS INC                             | Osaic Holdings Inc                                                               | CUSIP: 00791GAA5<br>LEI: 549300XL60BDV6UW5C86 | Long             | DBT              | CORP              | US        |    786000 | PA      | $786000.00    | 0.24%             | 2027-08-01      | Fixed         | 10.75%                | No            |                  2 | On Loan: —       |
| CLEAN HARBORS INC                              | Clean Harbors Inc                                                                | CUSIP: 184496AN7<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |   1159000 | PA      | $1149360.89   | 0.35%             | 2027-07-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                               | Boyd Gaming Corp                                                                 | CUSIP: 103304BU4<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |   2300000 | PA      | $2280755.26   | 0.69%             | 2027-12-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| KORN/FERRY INTERNATIONAL                       | Korn Ferry                                                                       | CUSIP: 50067PAA7<br>LEI: 549300FOD20OM0GT5G40 | Long             | DBT              | CORP              | US        |    926000 | PA      | $910941.24    | 0.28%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                              | Lithia Motors Inc                                                                | CUSIP: 536797AE3<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |    941000 | PA      | $926997.21    | 0.28%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| HILTON WORLDWIDE FIN LLC                       | Hilton Worldwide Finance LLC / Hilton Worldwide Finance Corp                     | CUSIP: 432891AK5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |   1325000 | PA      | $1322036.84   | 0.40%             | 2027-04-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| BROOKFIELD RESID PROPERT                       | Brookfield Residential Properties Inc / Brookfield Residential US LLC            | CUSIP: 11283YAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | CA        |   1410000 | PA      | $1407936.18   | 0.43%             | 2027-09-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: —       |
| OUTFRONT MEDIA CAP LLC/C                       | Outfront Media Capital LLC / Outfront Media Capital Corp                         | CUSIP: 69007TAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1501000 | PA      | $1486425.62   | 0.45%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                          | Nabors Industries Inc                                                            | CUSIP: 62957HAJ4<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |   1646000 | PA      | $1660889.68   | 0.50%             | 2027-05-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| GLOBAL NET LEASE/GLOBAL                        | Global Net Lease Inc / Global Net Lease Operating Partnership LP                 | CUSIP: 37892AAA8<br>LEI: N/A                  | Long             | DBT              |  | US        |   1212000 | PA      | $1157468.44   | 0.35%             | 2027-12-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| LD HOLDINGS GROUP LLC                          | LD Holdings Group LLC                                                            | CUSIP: 521088AD6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    803000 | PA      | $752731.53    | 0.23%             | 2027-11-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| CSC Holdings LLC                               | CSC Holdings LLC                                                                 | CUSIP: 126307AQ0<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |   3005000 | PA      | $2909529.95   | 0.88%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW INC                             | Scripps Escrow Inc                                                               | CUSIP: 81104PAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    966000 | PA      | $966000.00    | 0.29%             | 2027-07-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| GEN DIGITAL INC                                | Gen Digital Inc                                                                  | CUSIP: 668771AK4<br>LEI: YF6ZV0M6AU4FY94MK914 | Long             | DBT              | CORP              | US        |   2079500 | PA      | $2115112.37   | 0.64%             | 2027-09-30      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                       | Permian Resources Operating LLC                                                  | CUSIP: 27034RAA1<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |   1269000 | PA      | $1297065.27   | 0.39%             | 2027-04-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| PITNEY BOWES INC                               | Pitney Bowes Inc                                                                 | CUSIP: 724479AP5<br>LEI: 549300N2O26NW4ST6W55 | Long             | DBT              | CORP              | US        |    858000 | PA      | $859667.49    | 0.26%             | 2027-03-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| Bath & Body Works Inc                          | Bath & Body Works Inc                                                            | CUSIP: 501797AQ7<br>LEI: GR3KVMWVCR54YWQNXU90 | Long             | DBT              | CORP              | US        |    636000 | PA      | $651874.32    | 0.20%             | 2027-01-15      | Fixed         | 6.69%                 | No            |                  2 | On Loan: No      |
| TAYLOR MORRISON COMM                           | Taylor Morrison Communities Inc                                                  | CUSIP: 87724RAA0<br>LEI: 549300O1Z08HI2MRK572 | Long             | DBT              | CORP              | US        |   1163000 | PA      | $1172395.50   | 0.35%             | 2027-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| RAKUTEN GROUP INC                              | Rakuten Group Inc                                                                | CUSIP: 75102WAG3<br>LEI: 529900IMXUCQKUL1H943 | Long             | DBT              | CORP              | JP        |   4205000 | PA      | $4556145.38   | 1.38%             | 2027-02-15      | Fixed         | 11.25%                | No            |                  2 | On Loan: No      |
| Wynn Macau Ltd                                 | Wynn Macau Ltd                                                                   | CUSIP: 98313RAD8<br>LEI: 254900NMDQ8ENTHU1I31 | Long             | DBT              | CORP              | KY        |   1610000 | PA      | $1604518.18   | 0.48%             | 2027-10-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| CLEAR CHANNEL OUTDOOR HO                       | Clear Channel Outdoor Holdings Inc                                               | CUSIP: 18453HAA4<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |   2846000 | PA      | $2842099.39   | 0.86%             | 2027-08-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: —       |
| IQVIA Inc                                      | IQVIA Inc                                                                        | CUSIP: 46266TAA6<br>LEI: 549300PLWY28YB00C717 | Long             | DBT              | CORP              | US        |   2490000 | PA      | $2476231.92   | 0.75%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MELCO RESORTS FINANCE                          | Melco Resorts Finance Ltd                                                        | CUSIP: 000000000<br>LEI: 5493000FQDBWKDBZEF60 | Long             | DBT              | CORP              | KY        |   1312000 | PA      | $1309248.89   | 0.40%             | 2027-07-17      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| JAGUAR LAND ROVER AUTOMO                       | Jaguar Land Rover Automotive PLC                                                 | CUSIP: 47010BAF1<br>LEI: 529900L73GEWN1O5NH84 | Long             | DBT              | CORP              | GB        |   1181000 | PA      | $1161436.61   | 0.35%             | 2027-10-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| ASCENT RESOURCES/ARU FIN                       | Ascent Resources Utica Holdings LLC / ARU Finance Corp                           | CUSIP: 04364VAK9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    666000 | PA      | $810332.76    | 0.24%             | 2027-11-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                          | Directv Financing LLC / Directv Financing Co-Obligor Inc                         | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   8509000 | PA      | $8457563.44   | 2.55%             | 2027-08-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Transocean Poseidon Ltd                        | Transocean Poseidon Ltd                                                          | CUSIP: 89383JAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |    586425 | PA      | $586480.85    | 0.18%             | 2027-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| NCL CORPORATION LTD                            | NCL Corp Ltd                                                                     | CUSIP: 62886HBE0<br>LEI: UNZWILHE4KMRP9K2L524 | Long             | DBT              | CORP              | BM        |   2363000 | PA      | $2368894.55   | 0.72%             | 2027-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| METHANEX CORP                                  | Methanex Corp                                                                    | CUSIP: 59151KAM0<br>LEI: 549300TSJHRXT9QXRD13 | Long             | DBT              | CORP              | CA        |   1696000 | PA      | $1689702.02   | 0.51%             | 2027-10-15      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                       | Graphic Packaging International LLC                                              | CUSIP: 38869AAA5<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |    705000 | PA      | $694191.03    | 0.21%             | 2027-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| TRANSOCEAN INC                                 | Transocean Inc                                                                   | CUSIP: 893830BL2<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |   1555000 | PA      | $1543140.81   | 0.47%             | 2027-02-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| ANTERO MIDSTREAM PART/FI                       | Antero Midstream Partners LP / Antero Midstream Finance Corp                     | CUSIP: 03690AAD8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1485000 | PA      | $1485938.91   | 0.45%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| MINERAL RESOURCES LTD                          | Mineral Resources Ltd                                                            | CUSIP: 603051AC7<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |   1467000 | PA      | $1485181.19   | 0.45%             | 2027-11-01      | Fixed         | 8.00%                 | No            |                  2 | On Loan: —       |
| BROOKFIELD PPTY REIT INC                       | Brookfield Property REIT Inc / BPR Cumulus LLC / BPR Nimbus LLC / GGSI Sellco LL | CUSIP: 11284DAC9<br>LEI: N/A                  | Long             | DBT              |  | US        |   1767000 | PA      | $1718206.57   | 0.52%             | 2027-04-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares                            | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |  25541783 | NS      | $25551999.88  | 7.72%             |  |  |  | No            |                  1 | On Loan: No      |
| STARWOOD PROPERTY TRUST                        | Starwood Property Trust Inc                                                      | CUSIP: 85571BAY1<br>LEI: BUGSFQZERKRBFWIG5267 | Long             | DBT              |  | US        |   1173000 | PA      | $1153818.24   | 0.35%             | 2027-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                        | United Rentals North America Inc                                                 | CUSIP: 911365BM5<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1803000 | PA      | $1757770.43   | 0.53%             | 2027-11-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| NuStar Logistics LP                            | NuStar Logistics LP                                                              | CUSIP: 67059TAE5<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |   1274000 | PA      | $1280347.55   | 0.39%             | 2027-04-28      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| RHP HOTEL PPTY/RHP FINAN                       | RHP Hotel Properties LP / RHP Finance Corp                                       | CUSIP: 749571AF2<br>LEI: N/A                  | Long             | DBT              |  | US        |   1600000 | PA      | $1584419.02   | 0.48%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                       | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2772000 | PA      | $2778921.74   | 0.84%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Jeld-Wen Inc                                   | JELD-WEN Inc                                                                     | CUSIP: 475795AD2<br>LEI: 549300XWE6NM0N1HFW16 | Long             | DBT              | CORP              | US        |    901000 | PA      | $854349.90    | 0.26%             | 2027-12-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| TRAVEL + LEISURE CO                            | Travel + Leisure Co                                                              | CUSIP: 98310WAN8<br>LEI: T4VNTWMFQ7JQB65L7T35 | Long             | DBT              | CORP              | US        |    936000 | PA      | $942826.27    | 0.28%             | 2027-04-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| ENERSYS                                        | EnerSys                                                                          | CUSIP: 29275YAC6<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | DBT              | CORP              | US        |    690000 | PA      | $677824.18    | 0.20%             | 2027-12-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                                         | CUSIP: 81761LAB8<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |   1167000 | PA      | $1150289.62   | 0.35%             | 2027-12-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| CABLEVISION LIGHTPATH                          | Cablevision Lightpath LLC                                                        | CUSIP: 12687GAA7<br>LEI: 5493002ZVBLRLGES1R71 | Long             | DBT              | CORP              | US        |   1064000 | PA      | $1053269.20   | 0.32%             | 2027-09-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                         | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAC1<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   3059000 | PA      | $3025888.04   | 0.91%             | 2027-04-15      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                    | CUSIP: 143658BN1<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    723000 | PA      | $729672.33    | 0.22%             | 2027-03-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ADVANCED DRAINAGE SYSTEM                       | Advanced Drainage Systems Inc                                                    | CUSIP: 00790RAA2<br>LEI: 6QQTOZ5MF5DHM7K92I60 | Long             | DBT              | CORP              | US        |    836000 | PA      | $827257.14    | 0.25%             | 2027-09-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR CO                                | Nissan Motor Co Ltd                                                              | CUSIP: 654744AC5<br>LEI: 353800DRBDH1LUTNAY26 | Long             | DBT              | CORP              | JP        |   5730000 | PA      | $5581699.58   | 1.69%             | 2027-09-17      | Fixed         | 4.35%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                             | CUSIP: 35906ABE7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2643000 | PA      | $2643656.20   | 0.80%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| ENVIRI CORP                                    | Enviri Corp                                                                      | CUSIP: 415864AM9<br>LEI: KAO98FK89NPNNPQGUZ43 | Long             | DBT              | CORP              | US        |   1054000 | PA      | $1036576.76   | 0.31%             | 2027-07-31      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                          | Tenet Healthcare Corp                                                            | CUSIP: 88033GDB3<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |   3535000 | PA      | $3521999.33   | 1.06%             | 2027-11-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| LCPR SR SECURED FIN DAC                        | LCPR Senior Secured Financing DAC                                                | CUSIP: 50201DAA1<br>LEI: 549300LE5FM8IKMXSP90 | Long             | DBT              | CORP              | IE        |   2488000 | PA      | $1908202.25   | 0.58%             | 2027-10-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                  | CommScope LLC                                                                    | CUSIP: 20338QAA1<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |   2002000 | PA      | $2003069.39   | 0.61%             | 2027-03-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| OXFORD FIN LLC/CO-ISS II                       | Oxford Finance LLC / Oxford Finance Co-Issuer II Inc                             | CUSIP: 69145LAC8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    930000 | PA      | $929465.20    | 0.28%             | 2027-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| WEST TECHNOLOGY GRP LLC                        | West Technology Group LLC                                                        | CUSIP: 956187AA6<br>LEI: 5493005Z5DB0O5S30R71 | Long             | DBT              | CORP              | US        |    786000 | PA      | $219749.88    | 0.07%             | 2027-04-10      | Fixed         | 8.50%                 | No            |                  3 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                        | MPT Operating Partnership LP / MPT Finance Corp                                  | CUSIP: 55342UAH7<br>LEI: N/A                  | Long             | DBT              |  | US        |   3227000 | PA      | $2960332.98   | 0.89%             | 2027-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| Nordstrom Inc                                  | Nordstrom Inc                                                                    | CUSIP: 655664AS9<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |    796000 | PA      | $777460.77    | 0.23%             | 2027-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                                | Sealed Air Corp                                                                  | CUSIP: 81211KAY6<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |    976000 | PA      | $947765.07    | 0.29%             | 2027-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| USA COM PART/USA COM FIN                       | USA Compression Partners LP / USA Compression Finance Corp                       | CUSIP: 91740PAF5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1721000 | PA      | $1720655.68   | 0.52%             | 2027-09-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| LABL INC                                       | LABL Inc                                                                         | CUSIP: 50168AAA8<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |   1632000 | PA      | $1538524.75   | 0.46%             | 2027-07-15      | Fixed         | 10.50%                | No            |                  2 | On Loan: —       |
| BCPE ULYSSES INTERMEDIAT                       | BCPE Ulysses Intermediate Inc                                                    | CUSIP: 05553LAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    658000 | PA      | $657888.03    | 0.20%             | 2027-04-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: —       |
| GARDA WORLD SECURITY                           | Garda World Security Corp                                                        | CUSIP: 36485MAK5<br>LEI: 549300ZF1NDXLMCHNO20 | Long             | DBT              | CORP              | CA        |   1362000 | PA      | $1348683.33   | 0.41%             | 2027-02-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Churchill Downs Inc                            | Churchill Downs Inc                                                              | CUSIP: 171484AG3<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |   1405000 | PA      | $1402827.04   | 0.42%             | 2027-04-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| STUDIO CITY CO LTD                             | Studio City Co Ltd                                                               | CUSIP: 86400GAC3<br>LEI: 984500V5401EFT095A58 | Long             | DBT              | CORP              | VG        |    842000 | PA      | $847992.74    | 0.26%             | 2027-02-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| MAUSER PACKAGING SOLUT                         | Mauser Packaging Solutions Holding Co                                            | CUSIP: 57763RAD9<br>LEI: 549300DNGHXL0OMHW304 | Long             | DBT              | CORP              | US        |   6165000 | PA      | $6231040.53   | 1.88%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Viking Cruises Ltd                             | Viking Cruises Ltd                                                               | CUSIP: 92676XAD9<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |   1901000 | PA      | $1898698.48   | 0.57%             | 2027-09-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| B&G FOODS INC                                  | B&G Foods Inc                                                                    | CUSIP: 05508WAB1<br>LEI: 549300TRW1LZMDJZAQ78 | Long             | DBT              | CORP              | US        |   1289000 | PA      | $1143520.15   | 0.35%             | 2027-09-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| KFC HLD/PIZZA HUT/TACO                         | KFC Holding Co/Pizza Hut Holdings LLC/Taco Bell of America LLC                   | CUSIP: 48250NAC9<br>LEI: 549300G2LG4YUB3MM115 | Long             | DBT              | CORP              | US        |   1752000 | PA      | $1742935.84   | 0.53%             | 2027-06-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| NEWELL BRANDS INC                              | Newell Brands Inc                                                                | CUSIP: 651229BC9<br>LEI: 549300LWGYFM1TVO1Z12 | Long             | DBT              | CORP              | US        |   1208000 | PA      | $1223551.65   | 0.37%             | 2027-09-15      | Fixed         | 6.38%                 | No            |                  2 | On Loan: —       |
| Amkor Technology Inc                           | Amkor Technology Inc                                                             | CUSIP: 031652BK5<br>LEI: 529900VHLRTKPWZJBM84 | Long             | DBT              | CORP              | US        |    783000 | PA      | $781808.67    | 0.24%             | 2027-09-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| LINDBLAD EXPEDITIONS LLC                       | Lindblad Expeditions LLC                                                         | CUSIP: 53523LAA8<br>LEI: 549300MPUWOG67Y2R254 | Long             | DBT              | CORP              | US        |    802000 | PA      | $803624.42    | 0.24%             | 2027-02-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| FTAI INFRA ESC HLDGS LLC                       | FTAI Infra Escrow Holdings LLC                                                   | CUSIP: 30327TAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1382000 | PA      | $1423680.24   | 0.43%             | 2027-06-01      | Fixed         | 10.50%                | No            |                  2 | On Loan: No      |
| SBA COMMUNICATIONS CORP                        | SBA Communications Corp                                                          | CUSIP: 78410GAD6<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | DBT              |  | US        |   3391000 | PA      | $3330598.49   | 1.01%             | 2027-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| Murphy Oil USA Inc                             | Murphy Oil USA Inc                                                               | CUSIP: 626738AD0<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |    645000 | PA      | $643743.00    | 0.19%             | 2027-05-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| HERC HOLDINGS INC                              | Herc Holdings Inc                                                                | CUSIP: 42704LAA2<br>LEI: 549300TP80QLITMSBP82 | Long             | DBT              | CORP              | US        |   2755000 | PA      | $2743794.23   | 0.83%             | 2027-07-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| AFFINITY INTERACTIVE                           | Affinity Interactive                                                             | CUSIP: 00842XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1169000 | PA      | $645320.59    | 0.19%             | 2027-12-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| ACADEMY LTD                                    | Academy Ltd                                                                      | CUSIP: 00401YAA8<br>LEI: 549300BN53IR80C35Z14 | Long             | DBT              | CORP              | US        |    861000 | PA      | $861553.94    | 0.26%             | 2027-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Brink's Co/The                                 | Brink's Co/The                                                                   | CUSIP: 109696AA2<br>LEI: XFP140TFNOQMIVFTVQ13 | Long             | DBT              | CORP              | US        |   1385000 | PA      | $1365300.42   | 0.41%             | 2027-10-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                         | XPLR Infrastructure Operating Partners LP                                        | CUSIP: 65342QAB8<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |   1274000 | PA      | $1236040.19   | 0.37%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ARCHROCK PARTNERS LP/FIN                       | Archrock Partners LP / Archrock Partners Finance Corp                            | CUSIP: 03959KAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    600000 | PA      | $600303.43    | 0.18%             | 2027-04-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| SM Energy Co                                   | SM Energy Co                                                                     | CUSIP: 78454LAP5<br>LEI: 84BUTVXV5ODI6BXNMH43 | Long             | DBT              | CORP              | US        |    824000 | PA      | $823341.93    | 0.25%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                       | Olympus Water US Holding Corp                                                    | CUSIP: 16308NAA2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    730000 | PA      | $741744.82    | 0.22%             | 2027-10-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: —       |
| CELANESE US HOLDINGS LLC                       | Celanese US Holdings LLC                                                         | CUSIP: 15089QAM6<br>LEI: CD30XVRLT4QO00B1C706 | Long             | DBT              | CORP              | US        |   3393000 | PA      | $3480944.15   | 1.05%             | 2027-07-15      | Fixed         | 6.67%                 | No            |                  2 | On Loan: No      |
| BRANDYWINE OPER PARTNERS                       | Brandywine Operating Partnership LP                                              | CUSIP: 105340AQ6<br>LEI: IXBXSCONLDQ1ZI73YU71 | Long             | DBT              |  | US        |   1041000 | PA      | $1003719.90   | 0.30%             | 2027-11-15      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| NISSAN MOTOR ACCEPTANCE                        | Nissan Motor Acceptance Co LLC                                                   | CUSIP: 65480CAG0<br>LEI: 7D6DIU2QXTUJRFNNJA49 | Long             | DBT              | CORP              | US        |    921000 | PA      | $914032.55    | 0.28%             | 2027-09-13      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| MGM CHINA HOLDINGS LTD                         | MGM China Holdings Ltd                                                           | CUSIP: 55300RAG6<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |   1794000 | PA      | $1777885.86   | 0.54%             | 2027-02-01      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| ALTICE FINANCING SA                            | Altice Financing SA                                                              | CUSIP: 02154CAJ2<br>LEI: 549300DIYGW8HVDF7Q17 | Long             | DBT              | CORP              | LU        |    825000 | PA      | $757341.88    | 0.23%             | 2027-07-15      | Fixed         | 9.63%                 | No            |                  2 | On Loan: No      |
| WYNN LAS VEGAS LLC/CORP                        | Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp                                 | CUSIP: 983130AX3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2144000 | PA      | $2141235.16   | 0.65%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: —       |
| AMN HEALTHCARE INC                             | AMN Healthcare Inc                                                               | CUSIP: 00175PAB9<br>LEI: 549300H27NUKBFFQEE84 | Long             | DBT              | CORP              | US        |   1171000 | PA      | $1144609.95   | 0.35%             | 2027-10-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| CALUMET SPECIALTY PROD                         | Calumet Specialty Products Partners LP / Calumet Finance Corp                    | CUSIP: 131477AV3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    765000 | PA      | $757065.34    | 0.23%             | 2027-01-15      | Fixed         | 8.13%                 | No            |                  2 | On Loan: —       |
| Teleflex Inc                                   | Teleflex Inc                                                                     | CUSIP: 879369AF3<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | DBT              | CORP              | US        |   1178000 | PA      | $1159105.67   | 0.35%             | 2027-11-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE TECH LLC                             | CommScope Technologies LLC                                                       | CUSIP: 20338HAB9<br>LEI: M4TWC4QDOKW45N7T6Y12 | Long             | DBT              | CORP              | US        |   1797000 | PA      | $1758936.92   | 0.53%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Getty Images Inc                               | Getty Images Inc                                                                 | CUSIP: 374276AJ2<br>LEI: 5493005NV20IG4VEKZ40 | Long             | DBT              | CORP              | US        |    720000 | PA      | $700835.07    | 0.21%             | 2027-03-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: —       |
| VIASAT INC                                     | Viasat Inc                                                                       | CUSIP: 92552VAL4<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |   1428000 | PA      | $1422777.90   | 0.43%             | 2027-04-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| VF CORP                                        | VF Corp                                                                          | CUSIP: 918204BB3<br>LEI: CWAJJ9DJ5Z7P057HV541 | Long             | DBT              | CORP              | US        |   1148000 | PA      | $1096131.95   | 0.33%             | 2027-04-23      | Fixed         | 2.80%                 | No            |                  2 | On Loan: No      |
| SOTHEBY'S                                      | Sotheby's                                                                        | CUSIP: 835898AH0<br>LEI: 549300P5BAAMQQ7VL735 | Long             | DBT              | CORP              | US        |   1852000 | PA      | $1829882.73   | 0.55%             | 2027-10-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| DANA INC                                       | Dana Inc                                                                         | CUSIP: 235825AF3<br>LEI: KVWHW7YLZPFJM8QYNJ51 | Long             | DBT              | CORP              | US        |    820000 | PA      | $819484.15    | 0.25%             | 2027-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                         | Goodyear Tire & Rubber Co/The                                                    | CUSIP: 382550BG5<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |   1676000 | PA      | $1668476.20   | 0.50%             | 2027-03-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| BLACKSTONE MORTGAGE TR                         | Blackstone Mortgage Trust Inc                                                    | CUSIP: 09257WAD2<br>LEI: 549300OLDJ20R2Y2UW20 | Long             | DBT              |  | US        |    711000 | PA      | $689855.95    | 0.21%             | 2027-01-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| BEAZER HOMES USA                               | Beazer Homes USA Inc                                                             | CUSIP: 07556QBR5<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |    765000 | PA      | $763062.32    | 0.23%             | 2027-10-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                   | Navient Corp                                                                     | CUSIP: 63938CAK4<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |   1558000 | PA      | $1540614.22   | 0.47%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATI INC                                        | ATI Inc                                                                          | CUSIP: 01741RAH5<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |    757000 | PA      | $755722.13    | 0.23%             | 2027-12-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| VISTRA CORP                                    | Vistra Operations Co LLC                                                         | CUSIP: 92840VAF9<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   3046000 | PA      | $3030811.67   | 0.92%             | 2027-07-31      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SNF GROUP SACA                                 | SNF Group SACA                                                                   | CUSIP: 7846ELAD9<br>LEI: 969500F7036FEDYPRV54 | Long             | DBT              | CORP              | FR        |    709000 | PA      | $684043.99    | 0.21%             | 2027-03-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| BRIGHTSTAR LOTTERY PLC                         | Brightstar Lottery PLC                                                           | CUSIP: 460599AD5<br>LEI: 549300UQ6KHRCZDRGZ76 | Long             | DBT              | CORP              | GB        |   1763000 | PA      | $1780987.32   | 0.54%             | 2027-01-15      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| CENTURY COMMUNITIES                            | Century Communities Inc                                                          | CUSIP: 156504AL6<br>LEI: 5299002QMB2O7ZL1CA26 | Long             | DBT              | CORP              | US        |   1053000 | PA      | $1053633.27   | 0.32%             | 2027-06-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| CHS/COMMUNITY HEALTH SYS                       | CHS/Community Health Systems Inc                                                 | CUSIP: 12543DBG4<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |   4076000 | PA      | $4082827.14   | 1.23%             | 2027-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| VISTAJET MALTA/VM HOLDS                        | VistaJet Malta Finance PLC / Vista Management Holding Inc                        | CUSIP: 92840JAD1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1193000 | PA      | $1197083.39   | 0.36%             | 2027-05-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| TRI POINTE HOMES INC                           | Tri Pointe Homes Inc                                                             | CUSIP: 87265HAF6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    660000 | PA      | $657310.63    | 0.20%             | 2027-06-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                        | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BE6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    657000 | PA      | $653750.40    | 0.20%             | 2027-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| ODEON FINCO PLC                                | Odeon Finco PLC                                                                  | CUSIP: 67585LAA3<br>LEI: 9845003ECF9901CC5382 | Long             | DBT              | CORP              | GB        |    961000 | PA      | $1002730.54   | 0.30%             | 2027-11-01      | Fixed         | 12.75%                | No            |                  2 | On Loan: —       |
| SPEEDWAY MOT/SPEEDWAY FD                       | Speedway Motorsports LLC / Speedway Funding II Inc                               | CUSIP: 84779MAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    831000 | PA      | $822036.69    | 0.25%             | 2027-11-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Darling Ingredients Inc                        | Darling Ingredients Inc                                                          | CUSIP: 237266AH4<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | DBT              | CORP              | US        |   1155000 | PA      | $1153178.96   | 0.35%             | 2027-04-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| COGENT COMMS GRP / FIN                         | Cogent Communications Group LLC / Cogent Finance Inc                             | CUSIP: 19240WAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    700000 | PA      | $702080.93    | 0.21%             | 2027-06-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| COOPER-STANDARD AUTOMOTI                       | Cooper-Standard Automotive Inc                                                   | CUSIP: 216762AJ3<br>LEI: ITCH5B3Q4RTX2PH9UN62 | Long             | DBT              | CORP              | US        |    865906 | PA      | $746102.12    | 0.23%             | 2027-05-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| LIVE NATION ENTERTAINMEN                       | Live Nation Entertainment Inc                                                    | CUSIP: 538034AV1<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   2759000 | PA      | $2790317.46   | 0.84%             | 2027-05-15      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| Buckeye Partners LP                            | Buckeye Partners LP                                                              | CUSIP: 118230AR2<br>LEI: 549300C1PQJLVEIUBK50 | Long             | DBT              | CORP              | US        |    967000 | PA      | $943617.45    | 0.29%             | 2027-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                       | Vistra Operations Co LLC                                                         | CUSIP: 92840VAB8<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |   2921000 | PA      | $2917489.43   | 0.88%             | 2027-02-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| NEXSTAR MEDIA INC                              | Nexstar Media Inc                                                                | CUSIP: 65343HAA9<br>LEI: 5493006PK6I4I2OOT688 | Long             | DBT              | CORP              | US        |   3909000 | PA      | $3902242.39   | 1.18%             | 2027-07-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| KB Home                                        | KB Home                                                                          | CUSIP: 48666KAX7<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |    685000 | PA      | $699785.59    | 0.21%             | 2027-06-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| MOTION BONDCO DAC                              | Motion Bondco DAC                                                                | CUSIP: 61978XAA5<br>LEI: 635400KFD3IETNQLA755 | Long             | DBT              | CORP              | IE        |    948000 | PA      | $902483.94    | 0.27%             | 2027-11-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| ENERFLEX LTD                                   | Enerflex Ltd                                                                     | CUSIP: 29269RAA3<br>LEI: 54930014N7872VUS3F89 | Long             | DBT              | CORP              | CA        |   1293000 | PA      | $1331813.75   | 0.40%             | 2027-10-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| H.B. FULLER CO                                 | HB Fuller Co                                                                     | CUSIP: 359694AB2<br>LEI: JSMX3Z5FOYM8V0Q52357 | Long             | DBT              | CORP              | US        |    761000 | PA      | $747047.75    | 0.23%             | 2027-02-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                 | Owens-Brockway Glass Container Inc                                               | CUSIP: 69073TAT0<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |   1277000 | PA      | $1278063.52   | 0.39%             | 2027-05-13      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| SERVICE CORP INTL                              | Service Corp International/US                                                    | CUSIP: 817565CD4<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |   1258000 | PA      | $1246017.15   | 0.38%             | 2027-12-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| ALBERTSONS COS/SAFEWAY                         | Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC            | CUSIP: 013092AC5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3117000 | PA      | $3093540.02   | 0.93%             | 2027-01-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | BlackRock Cash Funds: Treasury, SL Agency Shares                                 | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |  19740000 | NS      | $19740000.00  | 5.96%             |  |  |  | No            |                  1 | On Loan: No      |
| SIX FLAGS ENTERTAINME                          | Six Flags Entertainment Corp                                                     | CUSIP: 83001AAC6<br>LEI: 549300JYTDUAA4JQ3717 | Long             | DBT              | CORP              | US        |   1121000 | PA      | $1118726.56   | 0.34%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TK ELEVATOR US NEWCO INC                       | TK Elevator US Newco Inc                                                         | CUSIP: 92537RAA7<br>LEI: 549300C2AFWPAYWS5574 | Long             | DBT              | CORP              | US        |   3536000 | PA      | $3522993.04   | 1.06%             | 2027-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| PENN ENTERTAINMENT INC                         | Penn Entertainment Inc                                                           | CUSIP: 707569AS8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    897000 | PA      | $892571.13    | 0.27%             | 2027-01-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| FORTESCUE TREASURY PTY L                       | Fortescue Treasury Pty Ltd                                                       | CUSIP: 30251GBA4<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |   1365000 | PA      | $1340082.25   | 0.40%             | 2027-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| RXO INC                                        | RXO Inc                                                                          | CUSIP: 98379JAA3<br>LEI: 549300KL8CA6GP8XPM30 | Long             | DBT              | CORP              | US        |    863000 | PA      | $880800.80    | 0.27%             | 2027-11-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                           | Cleveland-Cliffs Inc                                                             | CUSIP: 185899AH4<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |   1320000 | PA      | $1321449.23   | 0.40%             | 2027-06-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: —       |
| PRIME SECSRVC BRW/FINANC                       | Prime Security Services Borrower LLC / Prime Finance Inc                         | CUSIP: 74166MAF3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   2366000 | PA      | $2283809.82   | 0.69%             | 2027-08-31      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| GLOBAL AIR LEASE CO LTD                        | Global Aircraft Leasing Co Ltd                                                   | CUSIP: 37960JAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   2548000 | PA      | $2625961.11   | 0.79%             | 2027-09-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: —       |
| STANDARD INDUSTRI INC/NY                       | Standard Industries Inc/NY                                                       | CUSIP: 853496AC1<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |   1929000 | PA      | $1928987.56   | 0.58%             | 2027-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MATTHEWS INTERNATIONAL C                       | Matthews International Corp                                                      | CUSIP: 577128AC5<br>LEI: 549300ZVC5O0ATML6U61 | Long             | DBT              | CORP              | US        |    729000 | PA      | $758858.80    | 0.23%             | 2027-10-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| CHEMOURS CO                                    | Chemours Co/The                                                                  | CUSIP: 163851AE8<br>LEI: 549300M1BOLNXL8DOV14 | Long             | DBT              | CORP              | US        |   1143000 | PA      | $1119118.95   | 0.34%             | 2027-05-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| ZAYO GROUP HOLDINGS INC                        | Zayo Group Holdings Inc                                                          | CUSIP: 98919VAA3<br>LEI: 529900Z6OTS7RT0V0I47 | Long             | DBT              | CORP              | US        |   1594000 | PA      | $1515519.15   | 0.46%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                         | Match Group Holdings II LLC                                                      | CUSIP: 57665RAG1<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |   1037000 | PA      | $1028573.11   | 0.31%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Mineral Resources Ltd                          | Mineral Resources Ltd                                                            | CUSIP: 603051AA1<br>LEI: 5299007V1ACKFFX2P066 | Long             | DBT              | CORP              | AU        |   1471000 | PA      | $1475340.85   | 0.45%             | 2027-05-01      | Fixed         | 8.13%                 | No            |                  2 | On Loan: —       |
| SIX FLAGS/CANADA WON                           | Six Flags Entertainment Corp / Canada's Wonderland Co / Magnum Management Corp   | CUSIP: 150190AB2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1183000 | PA      | $1180091.42   | 0.36%             | 2027-04-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| GO DADDY OPCO/FINCO                            | Go Daddy Operating Co LLC / GD Finance Co Inc                                    | CUSIP: 38016LAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1381000 | PA      | $1375594.38   | 0.42%             | 2027-12-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| GGAM FINANCE LTD                               | GGAM Finance Ltd                                                                 | CUSIP: 36170JAC0<br>LEI: 254900X2QXEN0FVXRF65 | Long             | DBT              | CORP              | KY        |   1626000 | PA      | $1675183.93   | 0.51%             | 2027-02-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                        | Avis Budget Car Rental LLC / Avis Budget Finance Inc                             | CUSIP: 053773BC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    836000 | PA      | $831015.60    | 0.25%             | 2027-07-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: —       |
| AMERIGAS PART/FIN CORP                         | AmeriGas Partners LP / AmeriGas Finance Corp                                     | CUSIP: 030981AL8<br>LEI: H36E1IF6YS0OBMHM6168 | Long             | DBT              | CORP              | US        |   1253000 | PA      | $1245600.35   | 0.38%             | 2027-05-20      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| CLARIOS GLOBAL LP/US FIN                       | Clarios Global LP / Clarios US Finance Co                                        | CUSIP: 69867DAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   3800000 | PA      | $3820759.93   | 1.15%             | 2027-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| WILLIAM CARTER                                 | William Carter Co/The                                                            | CUSIP: 96926JAC1<br>LEI: TGI2A0HXEYNQPU7TYV27 | Long             | DBT              | CORP              | US        |   1167000 | PA      | $1158479.81   | 0.35%             | 2027-03-15      | Fixed         | 5.63%                 | No            |                  2 | On Loan: —       |
| Iron Mountain Inc                              | Iron Mountain Inc                                                                | CUSIP: 46284VAC5<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |   2281000 | PA      | $2264003.47   | 0.68%             | 2027-09-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                            | Sirius XM Radio LLC                                                              | CUSIP: 82967NBA5<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |   3439000 | PA      | $3401154.91   | 1.03%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bombardier Inc                                 | Bombardier Inc                                                                   | CUSIP: 097751BT7<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    328000 | PA      | $329057.28    | 0.10%             | 2027-04-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: —       |
| PERFORMANCE FOOD GROUP I                       | Performance Food Group Inc                                                       | CUSIP: 69346VAA7<br>LEI: 549300OMUOGBYK0FFO76 | Long             | DBT              | CORP              | US        |   2456000 | PA      | $2453520.69   | 0.74%             | 2027-10-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE CORP                          | Freedom Mortgage Corp                                                            | CUSIP: 35640YAJ6<br>LEI: 549300LYRWPSYPK6S325 | Long             | DBT              | CORP              | US        |   1278000 | PA      | $1278514.57   | 0.39%             | 2027-01-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| MGM RESORTS INTL                               | MGM Resorts International                                                        | CUSIP: 552953CF6<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |   1615000 | PA      | $1620648.49   | 0.49%             | 2027-04-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Park-Ohio Industries Inc                       | Park-Ohio Industries Inc                                                         | CUSIP: 700677AR8<br>LEI: 5493006LQUO5SLMNYM18 | Long             | DBT              | CORP              | US        |    759000 | PA      | $759133.57    | 0.23%             | 2027-04-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: —       |
| ARDAGH METAL PACKAGING                         | Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC      | CUSIP: 03969YAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |   1382000 | PA      | $1383397.92   | 0.42%             | 2027-06-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| GRUBHUB HOLDINGS INC                           | GrubHub Holdings Inc                                                             | CUSIP: 40010PAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1113000 | PA      | $1089071.02   | 0.33%             | 2027-07-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: —       |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                             | CUSIP: 682691AB6<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |   1727000 | PA      | $1685144.55   | 0.51%             | 2027-01-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| UNITED WHOLESALE MTGE LL                       | United Wholesale Mortgage LLC                                                    | CUSIP: 913229AC4<br>LEI: 549300HW662MN1WU8550 | Long             | DBT              | CORP              | US        |   1202000 | PA      | $1202770.48   | 0.36%             | 2027-06-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                       | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                   | CUSIP: 01883LAB9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1807000 | PA      | $1769003.02   | 0.53%             | 2027-10-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                       | Suburban Propane Partners LP/Suburban Energy Finance Corp                        | CUSIP: 864486AK1<br>LEI: JJAX4X60DE65EYFOTY73 | Long             | DBT              | CORP              | US        |    836000 | PA      | $832971.52    | 0.25%             | 2027-03-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| LIVE NATION ENTERTAINMEN                       | Live Nation Entertainment Inc                                                    | CUSIP: 538034AR0<br>LEI: 5493007B9BM9ZXJINO78 | Long             | DBT              | CORP              | US        |   2129000 | PA      | $2096568.92   | 0.63%             | 2027-10-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| WARNERMEDIA HOLDINGS INC                       | Warnermedia Holdings Inc                                                         | CUSIP: 55903VBL6<br>LEI: 549300DXR29GD4N0A520 | Long             | DBT              | CORP              | US        |   2805000 | PA      | $2748950.27   | 0.83%             | 2027-03-15      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| COMPASS MINERALS INTERNA                       | Compass Minerals International Inc                                               | CUSIP: 20451NAG6<br>LEI: 2549008X9G8XP7YJGC47 | Long             | DBT              | CORP              | US        |    867000 | PA      | $869095.70    | 0.26%             | 2027-12-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| ICAHN ENTERPRISES/FIN                          | Icahn Enterprises LP / Icahn Enterprises Finance Corp                            | CUSIP: 451102BZ9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   3386000 | PA      | $3299055.65   | 1.00%             | 2027-05-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SABRE GLBL INC                                 | Sabre GLBL Inc                                                                   | CUSIP: 78573NAJ1<br>LEI: F2TJC7HPPHLHU1AQMP98 | Long             | DBT              | CORP              | US        |    794000 | PA      | $806422.27    | 0.24%             | 2027-06-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| OFFICE PPTY INCOME TRST                        | Office Properties Income Trust                                                   | CUSIP: 67623CAM1<br>LEI: N/A                  | Long             | DBT              |  | US        |    937413 | PA      | $772950.13    | 0.23%             | 2027-03-15      | Fixed         | 3.25%                 | No            |                  2 | On Loan: —       |
| SUNOCO LP/FINANCE CORP                         | Sunoco LP / Sunoco Finance Corp                                                  | CUSIP: 86765LAQ0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1430000 | PA      | $1429179.77   | 0.43%             | 2027-04-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                           | WR Grace Holdings LLC                                                            | CUSIP: 92943GAD3<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |   1738000 | PA      | $1728306.08   | 0.52%             | 2027-06-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-29

**Name of Applicant:** iShares Trust

**Signature:** Chuck Pulsfort

**Name of Signer:** Chuck Pulsfort

**Title:** Assistant Treasurer