# EDGAR Filing Document

**Accession Number:** 0001100663
**File Stem:** 0001410368-25-010135
**Filing Date:** 2025-9
**Character Count:** 125702
**Document Hash:** f0b52c663dd59d9894abf9c34e65d648
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-010135.hdr.sgml**: 20250924

**ACCESSION NUMBER**: 0001410368-25-010135

**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:** 251338608

**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 2031 Term High Yield and Income ETF (Series ID: S000085094)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000249959 | iShares iBonds 2031 Term High Yield and Income ETF | IBHK            |

## Nport-Ex

Schedule of Investments (unaudited)

July 31, 2025

**iShares® iBonds® 2031 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., 7.13%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; $180 | $179748 |
| Lamar Media Corp., 3.63%, 01/15/31 | &nbsp;&nbsp;&nbsp; 86 | 79116 |
| &nbsp;&nbsp;&nbsp; Outfront Media Capital LLC/Outfront Media Capital <br> Corp., 7.38%, 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 77 | 80842 |
|  |  | 339706 |
| **Aerospace & Defense — 1.1%** | **Aerospace & Defense — 1.1%** | **Aerospace & Defense — 1.1%** |
| Bombardier Inc., 7.25%, 07/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 121 | 126338 |
| TransDigm Inc., 7.13%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 160 | 166644 |
|  |  | 292982 |
| **Airlines — 1.2%** | **Airlines — 1.2%** | **Airlines — 1.2%** |
| &nbsp;&nbsp;&nbsp; JetBlue Airways Corp./JetBlue Loyalty LP, 9.88%, <br> 09/20/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 317 | 306586 |
| **Apparel — 1.6%** | **Apparel — 1.6%** | **Apparel — 1.6%** |
| Champ Acquisition Corp., 8.38%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 80 | 84703 |
| Crocs Inc., 4.13%, 08/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 51 | 46084 |
| Hanesbrands Inc., 9.00%, 02/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 94 | 99025 |
| Levi Strauss & Co., 3.50%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 78 | 71418 |
| S&S Holdings LLC, 8.38%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | 95879 |
|  |  | 397109 |
| **Auto Manufacturers — 1.0%** | **Auto Manufacturers — 1.0%** | **Auto Manufacturers — 1.0%** |
| Allison Transmission Inc., 3.75%, 01/30/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 164 | 149589 |
| JB Poindexter & Co. Inc., 8.75%, 12/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 115 | 117432 |
|  |  | 267021 |
| **Auto Parts & Equipment — 1.0%** | **Auto Parts & Equipment — 1.0%** | **Auto Parts & Equipment — 1.0%** |
| Adient Global Holdings Ltd., 8.25%, 04/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 68 | 71042 |
| Goodyear Tire & Rubber Co. (The) |  |  |
| &nbsp;&nbsp;&nbsp; 5.25%, 04/30/31 | &nbsp;&nbsp;&nbsp; 90 | 85524 |
| &nbsp;&nbsp;&nbsp; 5.25%, 07/15/31 | &nbsp;&nbsp;&nbsp; 93 | 88354 |
|  |  | 244920 |
| **Banks — 0.7%** | **Banks — 0.7%** | **Banks — 0.7%** |
| Dresdner Funding Trust I, 8.15%, 06/30/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 150 | 165254 |
| **Building Materials — 1.9%** | **Building Materials — 1.9%** | **Building Materials — 1.9%** |
| &nbsp;&nbsp;&nbsp; EMRLD Borrower LP/Emerald Co-Issuer Inc., 6.75%, <br> 07/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 71 | 73166 |
| Knife River Corp., 7.75%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 68 | 71335 |
| Smyrna Ready Mix Concrete LLC, 8.88%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 176 | 185299 |
| Standard Industries Inc./New York, 3.38%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 180 | 160852 |
|  |  | 490652 |
| **Chemicals — 2.8%** | **Chemicals — 2.8%** | **Chemicals — 2.8%** |
| Ashland Inc., 3.38%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 72 | 63287 |
| Avient Corp., 6.25%, 11/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 95 | 95334 |
| &nbsp;&nbsp;&nbsp; Axalta Coating Systems Dutch Holding B BV, 7.25%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 70 | 72760 |
| Cerdia Finanz GmbH, 9.38%, 10/03/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 145 | 151908 |
| Consolidated Energy Finance SA, 12.00%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 95 | 89292 |
| Huntsman International LLC, 2.95%, 06/15/31 | &nbsp;&nbsp;&nbsp; 65 | 54669 |
| Olympus Water U.S. Holding Corp., 7.25%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 130 | 132885 |
| WR Grace Holdings LLC, 7.38%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 51 | 52609 |
|  |  | 712744 |
| **Commercial Services — 8.0%** | **Commercial Services — 8.0%** | **Commercial Services — 8.0%** |
| Allied Universal Holdco LLC, 7.88%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 371 | 389088 |
| &nbsp;&nbsp;&nbsp; Avis Budget Car Rental LLC/Avis Budget Finance Inc., <br> 8.00%, 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 80 | 81674 |
| Block Inc., 3.50%, 06/01/31 | &nbsp;&nbsp;&nbsp; 145 | 132925 |
| Boost Newco Borrower LLC, 7.50%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 350 | 370044 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Commercial Services (continued)** | **Commercial Services (continued)** | **Commercial Services (continued)** |
| GEO Group Inc. (The), 10.25%, 04/15/31 | &nbsp;&nbsp;&nbsp; $102 | $112203 |
| Raven Acquisition Holdings LLC, 6.88%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 206 | 208062 |
| RRD Parent Inc., 10.00%, 10/15/31, (10.00% PIK)<sup>(a)(c)</sup> | &nbsp;&nbsp;&nbsp; 147 | 260175 |
| Service Corp. International/U.S., 4.00%, 05/15/31 | &nbsp;&nbsp;&nbsp; 128 | 118682 |
| TriNet Group Inc., 7.13%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 68 | 70026 |
| United Rentals North America Inc., 3.88%, 02/15/31 | &nbsp;&nbsp;&nbsp; 179 | 167054 |
| Valvoline Inc., 3.63%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 82 | 73825 |
| Williams Scotsman Inc., 7.38%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 77 | 80336 |
|  |  | 2064094 |
| **Computers — 1.4%** | **Computers — 1.4%** | **Computers — 1.4%** |
| Fortress Intermediate 3 Inc., 7.50%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 123 | 129016 |
| Seagate Data Storage Technology Pte Ltd. |  |  |
| &nbsp;&nbsp;&nbsp; 4.13%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 35 | 30856 |
| &nbsp;&nbsp;&nbsp; 8.50%, 07/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 77 | 81444 |
| Unisys Corp., 10.63%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 115 | 120800 |
|  |  | 362116 |
| **Cosmetics & Personal Care — 0.3%** | **Cosmetics & Personal Care — 0.3%** | **Cosmetics & Personal Care — 0.3%** |
| Prestige Brands Inc., 3.75%, 04/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 86 | 78713 |
| **Distribution & Wholesale — 0.5%** | **Distribution & Wholesale — 0.5%** | **Distribution & Wholesale — 0.5%** |
| RB Global Holdings Inc., 7.75%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 130 | 136324 |
| **Diversified Financial Services — 6.8%** | **Diversified Financial Services — 6.8%** | **Diversified Financial Services — 6.8%** |
| Azorra Finance Ltd., 7.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 90 | 91915 |
| Burford Capital Global Finance LLC, 9.25%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 110 | 116353 |
| Coinbase Global Inc., 3.63%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 108 | 96697 |
| Focus Financial Partners LLC, 6.75%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 161 | 164512 |
| Freedom Mortgage Holdings LLC, 9.13%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 120 | 124751 |
| Jane Street Group/JSG Finance Inc., 7.13%, 04/30/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 221 | 228320 |
| &nbsp;&nbsp;&nbsp; Jefferies Finance LLC/JFIN Co-Issuer Corp., 6.63%, <br> 10/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 75 | 74671 |
| Nationstar Mortgage Holdings Inc., 5.75%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 97 | 97833 |
| Navient Corp., 11.50%, 03/15/31 | &nbsp;&nbsp;&nbsp; 71 | 79737 |
| OneMain Finance Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 7.13%, 11/15/31 | &nbsp;&nbsp;&nbsp; 123 | 126977 |
| &nbsp;&nbsp;&nbsp; 7.50%, 05/15/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 112 | 116763 |
| PennyMac Financial Services Inc., 5.75%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 73 | 71350 |
| &nbsp;&nbsp;&nbsp; Rocket Mortgage LLC/Rocket Mortgage Co-Issuer Inc., <br> 3.88%, 03/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 200 | 184489 |
| StoneX Group Inc., 7.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 89 | 93691 |
| &nbsp;&nbsp;&nbsp; VFH Parent LLC/Valor Co-Issuer Inc., 7.50%, <br> 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 83 | 86366 |
|  |  | 1754425 |
| **Electric — 3.9%** | **Electric — 3.9%** | **Electric — 3.9%** |
| Calpine Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 3.75%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 137 | 128803 |
| &nbsp;&nbsp;&nbsp; 5.00%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 140 | 138545 |
| Clearway Energy Operating LLC, 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 136 | 124051 |
| NRG Energy Inc., 3.63%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 166 | 151945 |
| Pike Corp., 8.63%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 66 | 71079 |
| Vistra Operations Co. LLC, 7.75%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 235 | 248757 |
| &nbsp;&nbsp;&nbsp; XPLR Infrastructure Operating Partners LP, 8.38%, <br> 01/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 135 | 141616 |
|  |  | 1004796 |
| **Electronics — 0.6%** | **Electronics — 0.6%** | **Electronics — 0.6%** |
| Atkore Inc., 4.25%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 65 | 60023 |
| Sensata Technologies Inc., 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 115 | 104698 |
|  |  | 164721 |
| **Engineering & Construction — 0.3%** | **Engineering & Construction — 0.3%** | **Engineering & Construction — 0.3%** |
| Artera Services LLC, 8.50%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 96 | 79579 |

---

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**iShares® iBonds® 2031 Term High Yield and Income ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Entertainment — 3.0%** | **Entertainment — 3.0%** | **Entertainment — 3.0%** |
| Churchill Downs Inc., 6.75%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $93 | $95028 |
| Light & Wonder International Inc., 7.50%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 79 | 82371 |
| &nbsp;&nbsp;&nbsp; Merlin Entertainments Group U.S. Holdings Inc., 7.38%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 80 | 69897 |
| &nbsp;&nbsp;&nbsp; Mohegan Tribal Gaming Authority/MS Digital <br> Entertainment Holdings LLC, 11.88%, 04/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 113 | 117792 |
| &nbsp;&nbsp;&nbsp; Premier Entertainment Sub LLC/Premier Entertainment <br> Finance Corp., 5.88%, 09/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 79 | 48798 |
| &nbsp;&nbsp;&nbsp; Resorts World Las Vegas LLC/RWLV Capital Inc., <br> 4.63%, 04/06/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 55 | 45532 |
| Six Flags Entertainment Corp./DE, 7.25%, 05/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 129 | 131382 |
| &nbsp;&nbsp;&nbsp; Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., <br> 7.13%, 02/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 159 | 169084 |
|  |  | 759884 |
| **Environmental Control — 1.0%** | **Environmental Control — 1.0%** | **Environmental Control — 1.0%** |
| Clean Harbors Inc., 6.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 73 | 74492 |
| GFL Environmental Inc., 6.75%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 163 | 169175 |
|  |  | 243667 |
| **Food — 1.8%** | **Food — 1.8%** | **Food — 1.8%** |
| Fiesta Purchaser Inc., 7.88%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 76 | 80305 |
| Ingles Markets Inc., 4.00%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 51 | 47457 |
| Post Holdings Inc., 4.50%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 171 | 158139 |
| Safeway Inc., 7.25%, 02/01/31 | &nbsp;&nbsp;&nbsp; 39 | 41841 |
| &nbsp;&nbsp;&nbsp; Viking Baked Goods Acquisition Corp., 8.63%, <br> 11/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 144 | 141218 |
|  |  | 468960 |
| **Forest Products & Paper — 0.5%** | **Forest Products & Paper — 0.5%** | **Forest Products & Paper — 0.5%** |
| Magnera Corp., 7.25%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 126 | 118775 |
| **Gas — 0.1%** | **Gas — 0.1%** | **Gas — 0.1%** |
| South Jersey Industries Inc., 5.02%, 04/15/31 | &nbsp;&nbsp;&nbsp; 43 | 35173 |
| **Health Care - Products — 0.4%** | **Health Care - Products — 0.4%** | **Health Care - Products — 0.4%** |
| Sotera Health Holdings LLC, 7.38%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 108 | 111867 |
| **Health Care - Services — 3.4%** | **Health Care - Services — 3.4%** | **Health Care - Services — 3.4%** |
| &nbsp;&nbsp;&nbsp; Charles River Laboratories International Inc., 4.00%, <br> 03/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 78 | 71575 |
| &nbsp;&nbsp;&nbsp; CHS/Community Health Systems Inc., 4.75%, <br> 02/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 174 | 145534 |
| DaVita Inc., 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 242 | 219532 |
| Encompass Health Corp., 4.63%, 04/01/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 58 | 55404 |
| HAH Group Holding Co. LLC, 9.75%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 110 | 106509 |
| Tenet Healthcare Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 6.75%, 05/15/31 | &nbsp;&nbsp;&nbsp; 194 | 199641 |
| &nbsp;&nbsp;&nbsp; 6.88%, 11/15/31 | &nbsp;&nbsp;&nbsp; 61 | 64948 |
|  |  | 863143 |
| **Holding Companies - Diversified — 1.3%** | **Holding Companies - Diversified — 1.3%** | **Holding Companies - Diversified — 1.3%** |
| Clue Opco LLC, 9.50%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 120 | 127251 |
| Stena International SA |  |  |
| &nbsp;&nbsp;&nbsp; 7.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 140 | 142210 |
| &nbsp;&nbsp;&nbsp; 7.63%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 60 | 61806 |
|  |  | 331267 |
| **Home Builders — 0.4%** | **Home Builders — 0.4%** | **Home Builders — 0.4%** |
| Beazer Homes USA Inc., 7.50%, 03/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 36 | 36373 |
| KB Home, 4.00%, 06/15/31 | &nbsp;&nbsp;&nbsp; 67 | 61463 |
|  |  | 97836 |
| **Home Furnishings — 0.6%** | **Home Furnishings — 0.6%** | **Home Furnishings — 0.6%** |
| Somnigroup International Inc., 3.88%, 10/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 129 | 116483 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Home Furnishings (continued)** | **Home Furnishings (continued)** | **Home Furnishings (continued)** |
| Whirlpool Corp., 2.40%, 05/15/31 | &nbsp;&nbsp;&nbsp; $50 | $41856 |
|  |  | 158339 |
| **Household Products & Wares — 0.5%** | **Household Products & Wares — 0.5%** | **Household Products & Wares — 0.5%** |
| Central Garden & Pet Co., 4.13%, 04/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 64 | 59291 |
| Kronos Acquisition Holdings Inc., 8.25%, 06/30/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 90 | 78096 |
|  |  | 137387 |
| **Housewares — 0.3%** | **Housewares — 0.3%** | **Housewares — 0.3%** |
| Scotts Miracle-Gro Co. (The), 4.00%, 04/01/31 | &nbsp;&nbsp;&nbsp; 75 | 68520 |
| **Insurance — 5.4%** | **Insurance — 5.4%** | **Insurance — 5.4%** |
| &nbsp;&nbsp;&nbsp; Alliant Holdings Intermediate LLC/Alliant Holdings <br> Co-Issuer<br>|  |  |
| &nbsp;&nbsp;&nbsp; 6.50%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 164 | 166544 |
| &nbsp;&nbsp;&nbsp; 7.00%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 213 | 218989 |
| Ardonagh Finco Ltd., 7.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 203 | 211646 |
| &nbsp;&nbsp;&nbsp; Baldwin Insurance Group Holdings LLC/Baldwin <br> Insurance Group Holdings Finance, 7.13%, <br> 05/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 98 | 101165 |
| Constellation Insurance Inc., 6.63%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 43 | 41335 |
| &nbsp;&nbsp;&nbsp; Howden U.K. Refinance PLC/Howden U.K. Refinance 2 <br> PLC/Howden U.S. Refinance LLC, 7.25%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 162 | 167762 |
| Panther Escrow Issuer LLC, 7.13%, 06/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 477 | 493053 |
|  |  | 1400494 |
| **Internet — 0.3%** | **Internet — 0.3%** | **Internet — 0.3%** |
| Match Group Holdings II LLC, 3.63%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 83 | 74265 |
| **Iron & Steel — 1.1%** | **Iron & Steel — 1.1%** | **Iron & Steel — 1.1%** |
| ATI Inc., 5.13%, 10/01/31 | &nbsp;&nbsp;&nbsp; 51 | 49328 |
| Cleveland-Cliffs Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 4.88%, 03/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 53 | 46830 |
| &nbsp;&nbsp;&nbsp; 7.50%, 09/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 138 | 137937 |
| Commercial Metals Co., 3.88%, 02/15/31 | &nbsp;&nbsp;&nbsp; 44 | 40431 |
|  |  | 274526 |
| **Leisure Time — 1.9%** | **Leisure Time — 1.9%** | **Leisure Time — 1.9%** |
| Amer Sports Co., 6.75%, 02/16/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 131 | 136320 |
| Carnival Corp., 5.88%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 160 | 162378 |
| Life Time Inc., 6.00%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 78 | 78607 |
| Viking Cruises Ltd., 9.13%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 104 | 111866 |
|  |  | 489171 |
| **Lodging — 2.1%** | **Lodging — 2.1%** | **Lodging — 2.1%** |
| Boyd Gaming Corp., 4.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 147 | 140047 |
| Hilton Domestic Operating Co. Inc., 4.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 181 | 168841 |
| &nbsp;&nbsp;&nbsp; Hilton Grand Vacations Borrower Escrow LLC/Hilton <br> Grand Vacations Borrower Esc, 4.88%, 07/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 73 | 67219 |
| MGM China Holdings Ltd., 7.13%, 06/26/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 80 | 83298 |
| Station Casinos LLC, 4.63%, 12/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 83 | 77676 |
|  |  | 537081 |
| **Machinery — 0.6%** | **Machinery — 0.6%** | **Machinery — 0.6%** |
| Chart Industries Inc., 9.50%, 01/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 85 | 90938 |
| Manitowoc Co. Inc. (The), 9.25%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 50 | 53264 |
|  |  | 144202 |
| **Manufacturing — 0.2%** | **Manufacturing — 0.2%** | **Manufacturing — 0.2%** |
| Hillenbrand Inc., 3.75%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 52 | 46594 |
| **Media — 8.1%** | **Media — 8.1%** | **Media — 8.1%** |
| CCO Holdings LLC/CCO Holdings Capital Corp. |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 476 | 434369 |
| &nbsp;&nbsp;&nbsp; 7.38%, 03/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 176 | 180813 |

---

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**iShares® iBonds® 2031 Term High Yield and Income ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Media (continued)** | **Media (continued)** | **Media (continued)** |
| CSC Holdings LLC |  |  |
| &nbsp;&nbsp;&nbsp; 3.38%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; $145 | $95455 |
| &nbsp;&nbsp;&nbsp; 4.50%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 250 | 166665 |
| &nbsp;&nbsp;&nbsp; Directv Financing LLC/Directv Financing Co-Obligor Inc., <br> 10.00%, 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 332 | 320044 |
| Gray Television Inc., 5.38%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 195 | 143979 |
| McGraw-Hill Education Inc., 7.38%, 09/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 107 | 111210 |
| Scripps Escrow II Inc., 5.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 50 | 36861 |
| Sirius XM Radio Inc., 3.88%, 09/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 243 | 214415 |
| Sunrise FinCo I BV, 4.88%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 195 | 183905 |
| Univision Communications Inc., 8.50%, 07/31/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 200 | 203292 |
|  |  | 2091008 |
| **Mining — 2.4%** | **Mining — 2.4%** | **Mining — 2.4%** |
| Alcoa Nederland Holding BV, 7.13%, 03/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 110 | 114716 |
| Arsenal AIC Parent LLC, 11.50%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 78 | 86782 |
| Fortescue Treasury Pty. Ltd., 4.38%, 04/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 235 | 220380 |
| Kaiser Aluminum Corp., 4.50%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 90 | 83910 |
| Novelis Corp., 3.88%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 118 | 105978 |
|  |  | 611766 |
| **Office & Business Equipment — 0.3%** | **Office & Business Equipment — 0.3%** | **Office & Business Equipment — 0.3%** |
| Xerox Corp., 13.50%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 78 | 76247 |
| **Oil & Gas — 4.1%** | **Oil & Gas — 4.1%** | **Oil & Gas — 4.1%** |
| Civitas Resources Inc., 8.75%, 07/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 212 | 214635 |
| CNX Resources Corp., 7.38%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 83 | 85731 |
| &nbsp;&nbsp;&nbsp; Encino Acquisition Partners Holdings LLC, 8.75%, <br> 05/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 68 | 75130 |
| &nbsp;&nbsp;&nbsp; Hilcorp Energy I LP/Hilcorp Finance Co., 6.00%, <br> 02/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 99 | 95576 |
| &nbsp;&nbsp;&nbsp; Moss Creek Resources Holdings Inc., 8.25%, <br> 09/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 95 | 92731 |
| Nabors Industries Inc., 8.88%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 90 | 72202 |
| Northern Oil & Gas Inc., 8.75%, 06/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 76 | 78199 |
| Permian Resources Operating LLC, 9.88%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 53 | 57770 |
| Talos Production Inc., 9.38%, 02/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 99 | 100930 |
| Transocean Inc. |  |  |
| &nbsp;&nbsp;&nbsp; 7.50%, 04/15/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 71 | 61312 |
| &nbsp;&nbsp;&nbsp; 8.50%, 05/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 133 | 122392 |
|  |  | 1056608 |
| **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** | **Oil & Gas Services — 0.2%** |
| Star Holding LLC, 8.75%, 08/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 59 | 57820 |
| **Packaging & Containers — 2.1%** | **Packaging & Containers — 2.1%** | **Packaging & Containers — 2.1%** |
| Ball Corp., 3.13%, 09/15/31 | &nbsp;&nbsp;&nbsp; 130 | 116302 |
| LABL Inc., 8.63%, 10/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 152 | 126109 |
| &nbsp;&nbsp;&nbsp; Owens-Brockway Glass Container Inc., 7.25%, <br> 05/15/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 113 | 114252 |
| &nbsp;&nbsp;&nbsp; Sealed Air Corp./Sealed Air Corp. U.S., 7.25%, <br> 02/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 67 | 69632 |
| Trivium Packaging Finance BV, 12.25%, 01/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | 104890 |
|  |  | 531185 |
| **Pharmaceuticals — 1.7%** | **Pharmaceuticals — 1.7%** | **Pharmaceuticals — 1.7%** |
| Endo Finance Holdings Inc., 8.50%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 160 | 170253 |
| &nbsp;&nbsp;&nbsp; Organon & Co./Organon Foreign Debt Co-Issuer BV, <br> 5.13%, 04/30/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 320 | 276796 |
|  |  | 447049 |
| **Pipelines — 3.3%** | **Pipelines — 3.3%** | **Pipelines — 3.3%** |
| &nbsp;&nbsp;&nbsp; CQP Holdco LP/BIP-V Chinook Holdco LLC, 5.50%, <br> 06/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 228 | 222883 |

---

---

| | | |
|:---|:---|:---|
| *Security* | &nbsp;&nbsp; *Par* <br>*(000*<br> *)*<br>| *Value* |
| **Pipelines (continued)** | **Pipelines (continued)** | **Pipelines (continued)** |
| &nbsp;&nbsp;&nbsp; Tallgrass Energy Partners LP/Tallgrass Energy Finance <br> Corp., 6.00%, 09/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; $73 | $71415 |
| Venture Global Calcasieu Pass LLC, 4.13%, 08/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 201 | 185613 |
| Venture Global LNG Inc., 8.38%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 362 | 374206 |
|  |  | 854117 |
| **Real Estate — 1.0%** | **Real Estate — 1.0%** | **Real Estate — 1.0%** |
| &nbsp;&nbsp;&nbsp; Cushman & Wakefield U.S. Borrower LLC, 8.88%, <br> 09/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 68 | 72895 |
| Howard Hughes Corp. (The), 4.38%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 100 | 92174 |
| Kennedy-Wilson Inc., 5.00%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 92 | 83963 |
|  |  | 249032 |
| **Real Estate Investment Trusts — 2.3%** | **Real Estate Investment Trusts — 2.3%** | **Real Estate Investment Trusts — 2.3%** |
| Diversified Healthcare Trust, 4.38%, 03/01/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 78 | 65139 |
| Iron Mountain Inc., 4.50%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 177 | 167439 |
| &nbsp;&nbsp;&nbsp; MPT Operating Partnership LP/MPT Finance Corp., <br> 3.50%, 03/15/31<br>| &nbsp;&nbsp;&nbsp; 207 | 141422 |
| Service Properties Trust, 8.63%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 162 | 172695 |
| Vornado Realty LP, 3.40%, 06/01/31 | &nbsp;&nbsp;&nbsp; 61 | 53650 |
|  |  | 600345 |
| **Retail — 4.8%** | **Retail — 4.8%** | **Retail — 4.8%** |
| Carvana Co., 9.00%, 06/01/31, (9.00% PIK)<sup>(a)(b)(c)</sup> | &nbsp;&nbsp;&nbsp; 336 | 377320 |
| Gap Inc. (The), 3.88%, 10/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 118 | 104848 |
| Kohl's Corp., 5.13%, 05/01/31 | &nbsp;&nbsp;&nbsp; 83 | 59928 |
| LCM Investments Holdings II LLC, 8.25%, 08/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 140 | 148021 |
| Lithia Motors Inc., 4.38%, 01/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 91 | 85507 |
| Murphy Oil USA Inc., 3.75%, 02/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 83 | 76243 |
| Nordstrom Inc., 4.25%, 08/01/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 62 | 54522 |
| Sonic Automotive Inc., 4.88%, 11/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 79 | 74340 |
| &nbsp;&nbsp;&nbsp; Suburban Propane Partners LP/Suburban Energy <br> Finance Corp., 5.00%, 06/01/31<sup>(a)(b)</sup><br>| &nbsp;&nbsp;&nbsp; 108 | 101448 |
| Yum! Brands Inc., 3.63%, 03/15/31 | &nbsp;&nbsp;&nbsp; 170 | 156672 |
|  |  | 1238849 |
| **Software — 3.3%** | **Software — 3.3%** | **Software — 3.3%** |
| CoreWeave Inc., 9.00%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 275 | 274517 |
| Open Text Holdings Inc., 4.13%, 12/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 100 | 91058 |
| Twilio Inc., 3.88%, 03/15/31<sup>(b)</sup> | &nbsp;&nbsp;&nbsp; 80 | 74256 |
| UKG Inc., 6.88%, 02/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 391 | 401818 |
|  |  | 841649 |
| **Telecommunications — 5.3%** | **Telecommunications — 5.3%** | **Telecommunications — 5.3%** |
| CommScope LLC, 9.50%, 12/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 151 | 158865 |
| &nbsp;&nbsp;&nbsp; Frontier Communications Holdings LLC, 8.63%, <br> 03/15/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 125 | 132549 |
| Iliad Holding SASU, 8.50%, 04/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 140 | 150193 |
| Level 3 Financing Inc., 4.00%, 04/15/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 75 | 64767 |
| Viasat Inc., 7.50%, 05/30/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 119 | 103665 |
| Vmed O2 U.K. Financing I PLC |  |  |
| &nbsp;&nbsp;&nbsp; 4.25%, 01/31/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 215 | 196050 |
| &nbsp;&nbsp;&nbsp; 4.75%, 07/15/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 223 | 206169 |
| &nbsp;&nbsp;&nbsp; Windstream Services LLC/Windstream Escrow Finance <br> Corp., 8.25%, 10/01/31<sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp; 345 | 361460 |
|  |  | 1373718 |
| **Transportation — 0.3%** | **Transportation — 0.3%** | **Transportation — 0.3%** |
| XPO Inc., 7.13%, 06/01/31<sup>(a)(b)</sup> | &nbsp;&nbsp;&nbsp; 77 | 79706 |
| **Trucking & Leasing — 0.4%** | **Trucking & Leasing — 0.4%** | **Trucking & Leasing — 0.4%** |
| FTAI Aviation Investors LLC, 7.00%, 05/01/31<sup>(a)</sup> | &nbsp;&nbsp;&nbsp; 107 | 111305 |
| **Total Long-Term Investments — 98.9%** <br>**(Cost: $25,292,086)** | **Total Long-Term Investments — 98.9%** <br>**(Cost: $25,292,086)** | 25443297 |

---

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**iShares® iBonds® 2031 Term High Yield and Income ETF**

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

---

| | | |
|:---|:---|:---|
| *Security* | *Shares* | *Value* |
| **Short-Term Securities** | **Short-Term Securities** | **Short-Term Securities** |
| **Money Market Funds — 13.3%** | **Money Market Funds — 13.3%** | **Money Market Funds — 13.3%** |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Institutional, SL Agency Shares, <br> 4.44%<sup>(d)(e)(f)</sup><br>| &nbsp;&nbsp;&nbsp; 3317970 | $3319297 |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency Shares, <br> 4.30%<sup>(d)(e)</sup><br>| &nbsp;&nbsp;&nbsp; 110000 | 110000 |
| **Total Short-Term Securities — 13.3%** <br>**(Cost: $3,429,259)** | **Total Short-Term Securities — 13.3%** <br>**(Cost: $3,429,259)** | 3429297 |
| **Total Investments — 112.2%** <br>**(Cost: $28,721,345)** | **Total Investments — 112.2%** <br>**(Cost: $28,721,345)** | 28872594 |
| **Liabilities in Excess of Other Assets — (12.2)%** | **Liabilities in Excess of Other Assets — (12.2)%** | (3129367)<br>|
| **Net Assets — 100.0%** | **Net Assets — 100.0%** | $25743227 |

---

&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> Affiliate of the Fund.

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

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

<sup>(f)</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 Agency <br> Shares<br>| $1187152<br> $2132905 <br><sup>(a)</sup><br>| $— | $(711)<br>| $(49)<br>| $3319297 | 3317970 | $9426 <br><sup>(b)</sup><br>| $— |
| &nbsp;&nbsp;&nbsp; BlackRock Cash Funds: Treasury, SL Agency <br> Shares<br>| &nbsp;&nbsp;&nbsp;&nbsp; 20000<br> 90000 <br><sup>(a)</sup><br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — | &nbsp;&nbsp;&nbsp;&nbsp; 110000 | 110000 | &nbsp;&nbsp;&nbsp; 2847 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; — |
|  |  |  | $(711) | $(49) | $3429297 |  | $12273 | $— |

---

&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

------

Schedule of Investments (unaudited)(continued)

July 31, 2025

**iShares® iBonds® 2031 Term High Yield and Income ETF**

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

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; $25443297 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $25443297 |
| &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; 3429297 | &nbsp;&nbsp; — | &nbsp;&nbsp; — | &nbsp;&nbsp; 3429297 |
|  | &nbsp;&nbsp; $3429297 | &nbsp;&nbsp; $25443297 | &nbsp;&nbsp; $— | &nbsp;&nbsp; $28872594 |

---

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

---

| | |
|:---|:---|
| **Portfolio Abbreviation** | **Portfolio Abbreviation** |
| PIK | Payment-in-kind |
| RB | Revenue Bonds |

---

------

## 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 2031 Term High Yield and Income ETF

- **b. EDGAR series identifier (if any):** S000085094

- **c. LEI of Series:** 529900KJZB61HUO2UR87

**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:** $33202954.98

**Total Liabilities:** $7459629.02

**Net Assets:** $25743325.96

**Delayed Delivery Securities:** $100253.71

**Cash Not Reported:** $214.36

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** 0.01000000 | **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:** 3.87000000 | **1-Year:** 245.40000000 | **5-Year:** 9135.76000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000249959 | 1.83%                | 2.09%                | 0.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $56829.02                | $226883.79                                 |
| Month 2  | $-458.29                 | $309238.52                                 |
| Month 3  | $1276.27                 | $-88490.96                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| TALOS PRODUCTION INC                           | Talos Production Inc                                                            | CUSIP: 87485LAE4<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |     99000 | PA      | $100929.84    | 0.39%             | 2031-02-01      | Fixed         | 9.38%                 | No            |                  2 | On Loan: —       |
| RITCHIE BROS HLDGS INC                         | Ritchie Bros Holdings Inc                                                       | CUSIP: 76774LAC1<br>LEI: 254900LH3N0EGB1LQ203 | Long             | DBT              | CORP              | US        |    130000 | PA      | $136324.52    | 0.53%             | 2031-03-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| HANESBRANDS INC                                | Hanesbrands Inc                                                                 | CUSIP: 410345AQ5<br>LEI: GX5LWVWZLL5S4W1L2F20 | Long             | DBT              | CORP              | US        |     94000 | PA      | $99024.74     | 0.38%             | 2031-02-15      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| ALLIED UNIVERSAL HOLDCO                        | Allied Universal Holdco LLC                                                     | CUSIP: 019576AD9<br>LEI: 98450038B4549046D794 | Long             | DBT              | CORP              | US        |    371000 | PA      | $389087.97    | 1.51%             | 2031-02-15      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| Safeway Inc                                    | Safeway Inc                                                                     | CUSIP: 786514BA6<br>LEI: 549300NKZ6VCN5P3K723 | Long             | DBT              | CORP              | US        |     39000 | PA      | $41841.49     | 0.16%             | 2031-02-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| VORNADO REALTY LP                              | Vornado Realty LP                                                               | CUSIP: 929043AL1<br>LEI: 549300BMOJ05INE4YK86 | Long             | DBT              |  | US        |     61000 | PA      | $53650.38     | 0.21%             | 2031-06-01      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| HILCORP ENERGY I/HILCORP                       | Hilcorp Energy I LP / Hilcorp Finance Co                                        | CUSIP: 431318AV6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     99000 | PA      | $95575.52     | 0.37%             | 2031-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| FIESTA PURCHASER INC                           | Fiesta Purchaser Inc                                                            | CUSIP: 31659AAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     76000 | PA      | $80304.62     | 0.31%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| XEROX CORPORATION                              | Xerox Corp                                                                      | CUSIP: 984121CT8<br>LEI: 4KF48RN45X1OO8UBLY20 | Long             | DBT              | CORP              | US        |     78000 | PA      | $76247.51     | 0.30%             | 2031-04-15      | Fixed         | 13.50%                | No            |                  2 | On Loan: No      |
| CLEAR CHANNEL OUTDOOR HO                       | Clear Channel Outdoor Holdings Inc                                              | CUSIP: 18453HAG1<br>LEI: 254900XBEE6V1ENYS150 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99859.90     | 0.39%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| CHAMP ACQUISITION CORP                         | Champ Acquisition Corp                                                          | CUSIP: 15807XAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $84703.00     | 0.33%             | 2031-12-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| OWENS-BROCKWAY                                 | Owens-Brockway Glass Container Inc                                              | CUSIP: 69073TAU7<br>LEI: V2UQUCDZJ9WY98W8QU33 | Long             | DBT              | CORP              | US        |    113000 | PA      | $114252.35    | 0.44%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| CHS/COMMUNITY HEALTH SYS                       | CHS/Community Health Systems Inc                                                | CUSIP: 12543DBK5<br>LEI: 5493007X5NC5XI1BB106 | Long             | DBT              | CORP              | US        |    174000 | PA      | $145533.65    | 0.57%             | 2031-02-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: —       |
| COMMERCIAL METALS CO                           | Commercial Metals Co                                                            | CUSIP: 201723AP8<br>LEI: 549300OQS2LO07ZJ7N73 | Long             | DBT              | CORP              | US        |     44000 | PA      | $40430.77     | 0.16%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| HAH GROUP HOLDING CO LLC                       | HAH Group Holding Co LLC                                                        | CUSIP: 40518JAA7<br>LEI: 254900FFJQHW9R90FL74 | Long             | DBT              | CORP              | US        |    110000 | PA      | $106508.70    | 0.41%             | 2031-10-01      | Fixed         | 9.75%                 | No            |                  2 | On Loan: —       |
| CALPINE CORP                                   | Calpine Corp                                                                    | CUSIP: 131347CQ7<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    140000 | PA      | $138545.26    | 0.54%             | 2031-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ALCOA NEDERLAND HOLDING                        | Alcoa Nederland Holding BV                                                      | CUSIP: 013822AH4<br>LEI: 5493000UL1QLQLT1VQ42 | Long             | DBT              | CORP              | NL        |    110000 | PA      | $114715.53    | 0.45%             | 2031-03-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BALL CORP                                      | Ball Corp                                                                       | CUSIP: 058498AX4<br>LEI: 0BGI85ALH27ZJP15DY16 | Long             | DBT              | CORP              | US        |    130000 | PA      | $116301.36    | 0.45%             | 2031-09-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| KRONOS ACQUISITION HOLDI                       | Kronos Acquisition Holdings Inc                                                 | CUSIP: 50106GAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $78096.20     | 0.30%             | 2031-06-30      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| POST HOLDINGS INC                              | Post Holdings Inc                                                               | CUSIP: 737446AR5<br>LEI: JM1I5YUAURL6DC8N1468 | Long             | DBT              | CORP              | US        |    171000 | PA      | $158139.60    | 0.61%             | 2031-09-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| TRANSDIGM INC                                  | TransDigm Inc                                                                   | CUSIP: 893647BT3<br>LEI: 88Q84GB3X55CF5OC7582 | Long             | DBT              | CORP              | US        |    160000 | PA      | $166643.96    | 0.65%             | 2031-12-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| FREEDOM MORTGAGE HOLD                          | Freedom Mortgage Holdings LLC                                                   | CUSIP: 35641AAB4<br>LEI: 254900ROJ91RGM43S156 | Long             | DBT              | CORP              | US        |    120000 | PA      | $124751.03    | 0.48%             | 2031-05-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| COMMSCOPE LLC                                  | CommScope LLC                                                                   | CUSIP: 20338MAA0<br>LEI: 549300Z6K4JXMFE8QY54 | Long             | DBT              | CORP              | US        |    151000 | PA      | $158865.27    | 0.62%             | 2031-12-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: No      |
| COINBASE GLOBAL INC                            | Coinbase Global Inc                                                             | CUSIP: 19260QAD9<br>LEI: 5493004G3J2SC154DU06 | Long             | DBT              | CORP              | US        |    108000 | PA      | $96696.68     | 0.38%             | 2031-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| PRESTIGE BRANDS INC                            | Prestige Brands Inc                                                             | CUSIP: 74112BAM7<br>LEI: 549300JBVP4J6D42I235 | Long             | DBT              | CORP              | US        |     86000 | PA      | $78713.53     | 0.31%             | 2031-04-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| CUSHMAN & WAKEFIELD US                         | Cushman & Wakefield US Borrower LLC                                             | CUSIP: 23166MAC7<br>LEI: 549300870CMN3WI5IF97 | Long             | DBT              | CORP              | US        |     68000 | PA      | $72895.05     | 0.28%             | 2031-09-01      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| ARSENAL AIC PARENT LLC                         | Arsenal AIC Parent LLC                                                          | CUSIP: 04288BAC4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     78000 | PA      | $86781.71     | 0.34%             | 2031-10-01      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| UNITED RENTALS NORTH AM                        | United Rentals North America Inc                                                | CUSIP: 911363AM1<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |    179000 | PA      | $167053.65    | 0.65%             | 2031-02-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| KOHL'S CORPORATION                             | Kohl's Corp                                                                     | CUSIP: 500255AX2<br>LEI: 549300JF6LPRTRJ0FH50 | Long             | DBT              | CORP              | US        |     83000 | PA      | $59927.76     | 0.23%             | 2031-05-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| KENNEDY-WILSON INC                             | Kennedy-Wilson Inc                                                              | CUSIP: 489399AM7<br>LEI: 5EA4464UK7FM5QNNKL62 | Long             | DBT              | CORP              | US        |     92000 | PA      | $83963.13     | 0.33%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| CQP HOLDCO LP/BIP-V CHIN                       | CQP Holdco LP / BIP-V Chinook Holdco LLC                                        | CUSIP: 12657NAA8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    228000 | PA      | $222883.11    | 0.87%             | 2031-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| ADIENT GLOBAL HOLDINGS                         | Adient Global Holdings Ltd                                                      | CUSIP: 00687YAC9<br>LEI: 213800VA38VCKE6M8790 | Long             | DBT              | CORP              | JE        |     68000 | PA      | $71042.23     | 0.28%             | 2031-04-15      | Fixed         | 8.25%                 | No            |                  2 | On Loan: —       |
| PANTHER ESCROW ISSUER                          | Panther Escrow Issuer LLC                                                       | CUSIP: 69867RAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    477000 | PA      | $493053.14    | 1.92%             | 2031-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| MOHEGAN TRIBAL / MS DIG                        | Mohegan Tribal Gaming Authority / MS Digital Entertainment Holdings LLC         | CUSIP: 60832QAB6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    113000 | PA      | $117792.27    | 0.46%             | 2031-04-15      | Fixed         | 11.88%                | No            |                  2 | On Loan: No      |
| HILLENBRAND INC                                | Hillenbrand Inc                                                                 | CUSIP: 431571AE8<br>LEI: U246OE781574J2BUD366 | Long             | DBT              | CORP              | US        |     52000 | PA      | $46593.70     | 0.18%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: —       |
| VIKING CRUISES LTD                             | Viking Cruises Ltd                                                              | CUSIP: 92676XAG2<br>LEI: 549300IJP90T4MV2GL84 | Long             | DBT              | CORP              | BM        |    104000 | PA      | $111866.09    | 0.43%             | 2031-07-15      | Fixed         | 9.13%                 | No            |                  2 | On Loan: No      |
| CLEARWAY ENERGY OP LLC                         | Clearway Energy Operating LLC                                                   | CUSIP: 18539UAD7<br>LEI: 549300Z3NFMM54NWBB87 | Long             | DBT              | CORP              | US        |    136000 | PA      | $124051.06    | 0.48%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| VALVOLINE INC                                  | Valvoline Inc                                                                   | CUSIP: 92047WAG6<br>LEI: 549300CMHPBEY6VPOT75 | Long             | DBT              | CORP              | US        |     82000 | PA      | $73824.91     | 0.29%             | 2031-06-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SIRIUS XM RADIO LLC                            | Sirius XM Radio LLC                                                             | CUSIP: 82967NBM9<br>LEI: WP5O65E6BMU84LNO4227 | Long             | DBT              | CORP              | US        |    243000 | PA      | $214415.15    | 0.83%             | 2031-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| MGM CHINA HOLDINGS LTD                         | MGM China Holdings Ltd                                                          | CUSIP: 55300RAJ0<br>LEI: 529900VZFN87OS7WJM66 | Long             | DBT              | CORP              | KY        |     80000 | PA      | $83297.71     | 0.32%             | 2031-06-26      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| LABL INC                                       | LABL Inc                                                                        | CUSIP: 50168QAF2<br>LEI: 5493004FUZN8R6Y3VB98 | Long             | DBT              | CORP              | US        |    152000 | PA      | $126109.15    | 0.49%             | 2031-10-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: —       |
| TALLGRASS NRG PRTNR/FIN                        | Tallgrass Energy Partners LP / Tallgrass Energy Finance Corp                    | CUSIP: 87470LAK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     73000 | PA      | $71414.47     | 0.28%             | 2031-09-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| PERMIAN RESOURC OPTG LLC                       | Permian Resources Operating LLC                                                 | CUSIP: 27034RAC7<br>LEI: 5493004CTVUMQLRPOE23 | Long             | DBT              | CORP              | US        |     53000 | PA      | $57770.12     | 0.22%             | 2031-07-15      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| JB POINDEXTER & CO INC                         | JB Poindexter & Co Inc                                                          | CUSIP: 465965AC5<br>LEI: 549300W6P81HOZZGPQ16 | Long             | DBT              | CORP              | US        |    115000 | PA      | $117432.43    | 0.46%             | 2031-12-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| HUNTSMAN INTERNATIONAL L                       | Huntsman International LLC                                                      | CUSIP: 44701QBF8<br>LEI: 3YTEJFW18LGIUQ2N5J61 | Long             | DBT              | CORP              | US        |     65000 | PA      | $54669.18     | 0.21%             | 2031-06-15      | Fixed         | 2.95%                 | No            |                  2 | On Loan: No      |
| VIASAT INC                                     | Viasat Inc                                                                      | CUSIP: 92552VAR1<br>LEI: UFC8NYMNFSYIHNSM2I38 | Long             | DBT              | CORP              | US        |    119000 | PA      | $103664.76    | 0.40%             | 2031-05-30      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| KB HOME                                        | KB Home                                                                         | CUSIP: 48666KAZ2<br>LEI: 549300LGUCWQURMWLG09 | Long             | DBT              | CORP              | US        |     67000 | PA      | $61462.54     | 0.24%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| TENET HEALTHCARE CORP                          | Tenet Healthcare Corp                                                           | CUSIP: 88033GDU1<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |    194000 | PA      | $199641.04    | 0.78%             | 2031-05-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: —       |
| ATI INC                                        | ATI Inc                                                                         | CUSIP: 01741RAM4<br>LEI: ZW1LRE7C3H17O2ZN9B45 | Long             | DBT              | CORP              | US        |     51000 | PA      | $49328.24     | 0.19%             | 2031-10-01      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| SOMNIGROUP INTL INC                            | Somnigroup International Inc                                                    | CUSIP: 88023UAJ0<br>LEI: 549300HFEKVR3US71V91 | Long             | DBT              | CORP              | US        |    129000 | PA      | $116483.23    | 0.45%             | 2031-10-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                         | Goodyear Tire & Rubber Co/The                                                   | CUSIP: 382550BJ9<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     90000 | PA      | $85523.83     | 0.33%             | 2031-04-30      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| SIX FLAGS ENTERTAINME                          | Six Flags Entertainment Corp                                                    | CUSIP: 83001AAD4<br>LEI: 529900AS2CYWYFHRS781 | Long             | DBT              | CORP              | US        |    129000 | PA      | $131381.39    | 0.51%             | 2031-05-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| OLYMPUS WTR US HLDG CORP                       | Olympus Water US Holding Corp                                                   | CUSIP: 681639AD2<br>LEI: 549300YU2GGVCBN3MY89 | Long             | DBT              | CORP              | US        |    130000 | PA      | $132885.24    | 0.52%             | 2031-06-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| INGLES MARKETS INC                             | Ingles Markets Inc                                                              | CUSIP: 457030AK0<br>LEI: 549300XH5RYBMYP8TF26 | Long             | DBT              | CORP              | US        |     51000 | PA      | $47456.94     | 0.18%             | 2031-06-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| VIKING BAKED GOODS ACQUI                       | Viking Baked Goods Acquisition Corp                                             | CUSIP: 92676AAA5<br>LEI: 254900DBFD2H1FJK0893 | Long             | DBT              | CORP              | US        |    144000 | PA      | $141217.72    | 0.55%             | 2031-11-01      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| FOCUS FINANCIAL PARTNERS                       | Focus Financial Partners LLC                                                    | CUSIP: 34417VAA5<br>LEI: 5493007L0E0VKRC2CP39 | Long             | DBT              | CORP              | US        |    161000 | PA      | $164511.90    | 0.64%             | 2031-09-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| DIRECTV FIN LLC/COINC                          | Directv Financing LLC / Directv Financing Co-Obligor Inc                        | CUSIP: 25461LAD4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    332000 | PA      | $320044.14    | 1.24%             | 2031-02-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| SCOTTS MIRACLE-GRO CO                          | Scotts Miracle-Gro Co/The                                                       | CUSIP: 810186AX4<br>LEI: 2TH9E0JTOUXOEGI2R879 | Long             | DBT              | CORP              | US        |     75000 | PA      | $68520.31     | 0.27%             | 2031-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| WR GRACE HOLDING LLC                           | WR Grace Holdings LLC                                                           | CUSIP: 92943GAE1<br>LEI: 549300WNOVFRGYOAEB12 | Long             | DBT              | CORP              | US        |     51000 | PA      | $52608.48     | 0.20%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: —       |
| KAISER ALUMINUM CORP                           | Kaiser Aluminum Corp                                                            | CUSIP: 483007AL4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     90000 | PA      | $83910.24     | 0.33%             | 2031-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: —       |
| KNIFE RIVER CORP                               | Knife River Corp                                                                | CUSIP: 498894AA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     68000 | PA      | $71334.95     | 0.28%             | 2031-05-01      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| DAVITA INC                                     | DaVita Inc                                                                      | CUSIP: 23918KAT5<br>LEI: M2XHYMU3TZNEZURC6H66 | Long             | DBT              | CORP              | US        |    242000 | PA      | $219531.83    | 0.85%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| NATIONSTAR MTG HLD INC                         | Nationstar Mortgage Holdings Inc                                                | CUSIP: 63861CAE9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     97000 | PA      | $97832.58     | 0.38%             | 2031-11-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| ILIAD HOLDING SAS                              | Iliad Holding SASU                                                              | CUSIP: 449691AF1<br>LEI: 9695009PXA7OI9NXN582 | Long             | DBT              | CORP              | FR        |    140000 | PA      | $150193.19    | 0.58%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| FORTRESS TRANS & INFRAST                       | FTAI Aviation Investors LLC                                                     | CUSIP: 34960PAF8<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | US        |    107000 | PA      | $111304.97    | 0.43%             | 2031-05-01      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| CHART INDUSTRIES INC                           | Chart Industries Inc                                                            | CUSIP: 16115QAG5<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | DBT              | CORP              | US        |     85000 | PA      | $90937.65     | 0.35%             | 2031-01-01      | Fixed         | 9.50%                 | No            |                  2 | On Loan: —       |
| HILTON DOMESTIC OPERATIN                       | Hilton Domestic Operating Co Inc                                                | CUSIP: 432833AL5<br>LEI: 5493003EG7H0N1E4XV50 | Long             | DBT              | CORP              | US        |    181000 | PA      | $168841.38    | 0.66%             | 2031-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| RESORTS WORLD/RWLV CAP                         | Resorts World Las Vegas LLC / RWLV Capital Inc                                  | CUSIP: 76120HAC1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     55000 | PA      | $45532.32     | 0.18%             | 2031-04-06      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| GAP INC/THE                                    | Gap Inc/The                                                                     | CUSIP: 364760AQ1<br>LEI: T2ZG1WRWZ4BUCMQL9224 | Long             | DBT              | CORP              | US        |    118000 | PA      | $104848.45    | 0.41%             | 2031-10-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| SCRIPPS ESCROW II INC                          | Scripps Escrow II Inc                                                           | CUSIP: 81105DAB1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     50000 | PA      | $36861.28     | 0.14%             | 2031-01-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: —       |
| AMER SPORTS COMPANY                            | Amer Sports Co                                                                  | CUSIP: 02352NAA7<br>LEI: 549300NRKH9WF70VFC95 | Long             | DBT              | CORP              | US        |    131000 | PA      | $136319.60    | 0.53%             | 2031-02-16      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| TWILIO INC                                     | Twilio Inc                                                                      | CUSIP: 90138FAD4<br>LEI: 5493004W8TRGD63APX93 | Long             | DBT              | CORP              | US        |     80000 | PA      | $74255.92     | 0.29%             | 2031-03-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: —       |
| BlackRock Funds III                            | BlackRock Cash Funds: Institutional, SL Agency Shares                           | CUSIP: 066922519<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |   3660833 | NS      | $3662297.58   | 14.23%            |  |  |  | No            |                  1 | On Loan: No      |
| SMYRNA READY MIX CONCRET                       | Smyrna Ready Mix Concrete LLC                                                   | CUSIP: 83283WAE3<br>LEI: 549300S7RFWHQFOIOY93 | Long             | DBT              | CORP              | US        |    176000 | PA      | $185299.50    | 0.72%             | 2031-11-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| FRONTIER COMMUNICATIONS                        | Frontier Communications Holdings LLC                                            | CUSIP: 35908MAE0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    125000 | PA      | $132548.78    | 0.51%             | 2031-03-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| CALPINE CORP                                   | Calpine Corp                                                                    | CUSIP: 131347CR5<br>LEI: 43R4VPJBXTU2O15HEF41 | Long             | DBT              | CORP              | US        |    137000 | PA      | $128803.20    | 0.50%             | 2031-03-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| STENA INTERNATIONAL SA                         | Stena International SA                                                          | CUSIP: 85858EAE3<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |     60000 | PA      | $61806.50     | 0.24%             | 2031-02-15      | Fixed         | 7.63%                 | No            |                  2 | On Loan: No      |
| NORDSTROM INC                                  | Nordstrom Inc                                                                   | CUSIP: 655664AY6<br>LEI: 549300S3IZB5P35KNV16 | Long             | DBT              | CORP              | US        |     62000 | PA      | $54522.38     | 0.21%             | 2031-08-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: —       |
| ORGANON & CO/ORGANON FOR                       | Organon & Co / Organon Foreign Debt Co-Issuer BV                                | CUSIP: 68622TAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    320000 | PA      | $276796.23    | 1.08%             | 2031-04-30      | Fixed         | 5.13%                 | No            |                  2 | On Loan: No      |
| S&S HOLDINGS LLC                               | S&S Holdings LLC                                                                | CUSIP: 78525CAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $95879.43     | 0.37%             | 2031-10-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| LEVEL 3 FINANCING INC                          | Level 3 Financing Inc                                                           | CUSIP: 527298CH4<br>LEI: 254900AE5FEFIJOXWL19 | Long             | DBT              | CORP              | US        |     75000 | PA      | $64766.93     | 0.25%             | 2031-04-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: —       |
| CLEVELAND-CLIFFS INC                           | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AL5<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |     53000 | PA      | $46830.19     | 0.18%             | 2031-03-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| DIVERSIFIED HEALTHCARE T                       | Diversified Healthcare Trust                                                    | CUSIP: 25525PAB3<br>LEI: N/A                  | Long             | DBT              |  | US        |     78000 | PA      | $65138.66     | 0.25%             | 2031-03-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| VMED O2 UK FINAN                               | Vmed O2 UK Financing I PLC                                                      | CUSIP: 92858RAA8<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    215000 | PA      | $196049.69    | 0.76%             | 2031-01-31      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LIFE TIME INC                                  | Life Time Inc                                                                   | CUSIP: 53190FAE5<br>LEI: 549300PALKE96VYH4X17 | Long             | DBT              | CORP              | US        |     78000 | PA      | $78607.12     | 0.31%             | 2031-11-15      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| STAR HOLDING LLC                               | Star Holding LLC                                                                | CUSIP: 85513AAA6<br>LEI: 254900BDGPE9N1WAKD59 | Long             | DBT              | CORP              | US        |     59000 | PA      | $57819.64     | 0.22%             | 2031-08-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| ARTERA SERVICES LLC                            | Artera Services LLC                                                             | CUSIP: 04302XAA2<br>LEI: 549300J2G34D0WX8Z443 | Long             | DBT              | CORP              | US        |     96000 | PA      | $79578.70     | 0.31%             | 2031-02-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| OPEN TEXT INC                                  | Open Text Holdings Inc                                                          | CUSIP: 683720AC0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    100000 | PA      | $91058.24     | 0.35%             | 2031-12-01      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                                | CUSIP: 126307BH9<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    250000 | PA      | $166664.83    | 0.65%             | 2031-11-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| AVIS BUDGET CAR/FINANCE                        | Avis Budget Car Rental LLC / Avis Budget Finance Inc                            | CUSIP: 053773BH9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     80000 | PA      | $81673.92     | 0.32%             | 2031-02-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| ENCOMPASS HEALTH CORP                          | Encompass Health Corp                                                           | CUSIP: 29261AAE0<br>LEI: 549300FVRPM9DRQZRG64 | Long             | DBT              | CORP              | US        |     58000 | PA      | $55404.28     | 0.22%             | 2031-04-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: —       |
| CENTRAL GARDEN & PET CO                        | Central Garden & Pet Co                                                         | CUSIP: 153527AP1<br>LEI: 5493004DVZLD37DJ0H83 | Long             | DBT              | CORP              | US        |     64000 | PA      | $59291.01     | 0.23%             | 2031-04-30      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| YUM! BRANDS INC                                | Yum! Brands Inc                                                                 | CUSIP: 988498AN1<br>LEI: 549300JE8XHZZ7OHN517 | Long             | DBT              | CORP              | US        |    170000 | PA      | $156672.21    | 0.61%             | 2031-03-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| AXALTA COATING SYSTEMS D                       | Axalta Coating Systems Dutch Holding B BV                                       | CUSIP: 05455JAA5<br>LEI: 5493007DMEBZH3CQ5E51 | Long             | DBT              | CORP              | NL        |     70000 | PA      | $72760.13     | 0.28%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SOUTH JERSEY INDUSTRIES                        | South Jersey Industries Inc                                                     | CUSIP: 838518AA6<br>LEI: 549300DJYWYT5VXLFA46 | Long             | DBT              | CORP              | US        |     43000 | PA      | $35172.89     | 0.14%             | 2031-04-15      | Fixed         | 5.02%                 | No            |                  2 | On Loan: No      |
| BEAZER HOMES USA                               | Beazer Homes USA Inc                                                            | CUSIP: 07556QBU8<br>LEI: 549300DUPYT2T0F60I45 | Long             | DBT              | CORP              | US        |     36000 | PA      | $36373.38     | 0.14%             | 2031-03-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| HILTON GRAND VAC LLC/INC                       | Hilton Grand Vacations Borrower LLC / Hilton Grand Vacations Borrower Inc       | CUSIP: 43284MAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     73000 | PA      | $67219.19     | 0.26%             | 2031-07-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: —       |
| HOWARD HUGHES CORP                             | Howard Hughes Corp/The                                                          | CUSIP: 44267DAF4<br>LEI: 549300BVHY25JZC1KI49 | Long             | DBT              | CORP              | US        |    100000 | PA      | $92173.53     | 0.36%             | 2031-02-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: No      |
| SOTERA HEALTH HLDGS LLC                        | Sotera Health Holdings LLC                                                      | CUSIP: 83600WAE9<br>LEI: 549300OVT7MBXFLOFU20 | Long             | DBT              | CORP              | US        |    108000 | PA      | $111866.98    | 0.43%             | 2031-06-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| ALLISON TRANSMISSION INC                       | Allison Transmission Inc                                                        | CUSIP: 019736AG2<br>LEI: MWKQ3I0U1GXP2YDSZW75 | Long             | DBT              | CORP              | US        |    164000 | PA      | $149588.47    | 0.58%             | 2031-01-30      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| GRAY MEDIA INC                                 | Gray Media Inc                                                                  | CUSIP: 389286AA3<br>LEI: 529900TM5726KDN7UU35 | Long             | DBT              | CORP              | US        |    195000 | PA      | $143978.44    | 0.56%             | 2031-11-15      | Fixed         | 5.38%                 | No            |                  2 | On Loan: No      |
| LITHIA MOTORS INC                              | Lithia Motors Inc                                                               | CUSIP: 536797AF0<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | DBT              | CORP              | US        |     91000 | PA      | $85506.87     | 0.33%             | 2031-01-15      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| SEAGATE DATA STORAGE TECHNOLOG                 | SEAGATE DATA STOR                                                               | CUSIP: 81180LAQ8<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     77000 | PA      | $81443.77     | 0.32%             | 2031-07-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| VMED O2 UK FINAN                               | Vmed O2 UK Financing I PLC                                                      | CUSIP: 92858RAB6<br>LEI: 213800MRR46ECNGZ7L69 | Long             | DBT              | CORP              | GB        |    223000 | PA      | $206169.12    | 0.80%             | 2031-07-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Tenet Healthcare Corp                          | Tenet Healthcare Corp                                                           | CUSIP: 88033GAV2<br>LEI: 0W9AIBT6U6ADJ2I8HK17 | Long             | DBT              | CORP              | US        |     61000 | PA      | $64948.39     | 0.25%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| UKG INC                                        | UKG Inc                                                                         | CUSIP: 90279XAA0<br>LEI: 529900FKHWSTQ1GXK240 | Long             | DBT              | CORP              | US        |    391000 | PA      | $401818.00    | 1.56%             | 2031-02-01      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GFL ENVIRONMENTAL INC                          | GFL Environmental Inc                                                           | CUSIP: 36168QAQ7<br>LEI: 549300FYK4MBXWIVZU26 | Long             | DBT              | CORP              | CA        |    163000 | PA      | $169174.43    | 0.66%             | 2031-01-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| VISTRA OPERATIONS CO LLC                       | Vistra Operations Co LLC                                                        | CUSIP: 92840VAP7<br>LEI: 549300ZH5GKBTJZ7NM23 | Long             | DBT              | CORP              | US        |    235000 | PA      | $248756.65    | 0.97%             | 2031-10-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| UNIVISION COMMUNICATIONS                       | Univision Communications Inc                                                    | CUSIP: 914906AZ5<br>LEI: 549300YQDE2JSGTL8V47 | Long             | DBT              | CORP              | US        |    200000 | PA      | $203291.79    | 0.79%             | 2031-07-31      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| DRESDNER FNDG TRUST I                          | Dresdner Funding Trust I                                                        | CUSIP: 26156FAA1<br>LEI: 549300ZEO4BKB37E3J03 | Long             | DBT              | CORP              | US        |    150000 | PA      | $165254.39    | 0.64%             | 2031-06-30      | Fixed         | 8.15%                 | No            |                  2 | On Loan: No      |
| NABORS INDUSTRIES INC                          | Nabors Industries Inc                                                           | CUSIP: 62957HAQ8<br>LEI: 549300VFQWRKICUFNU92 | Long             | DBT              | CORP              | US        |     90000 | PA      | $72202.40     | 0.28%             | 2031-08-15      | Fixed         | 8.88%                 | No            |                  2 | On Loan: No      |
| SONIC AUTOMOTIVE INC                           | Sonic Automotive Inc                                                            | CUSIP: 83545GBE1<br>LEI: 549300NTLRGJ2JCBZU03 | Long             | DBT              | CORP              | US        |     79000 | PA      | $74340.03     | 0.29%             | 2031-11-15      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL CALCASIEU                       | Venture Global Calcasieu Pass LLC                                               | CUSIP: 92328MAB9<br>LEI: 549300GKHS6RS20NLH85 | Long             | DBT              | CORP              | US        |    201000 | PA      | $185613.13    | 0.72%             | 2031-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| WILLIAMS SCOTSMAN INC                          | Williams Scotsman Inc                                                           | CUSIP: 96949VAL7<br>LEI: 549300DAKDS8SCO1OT57 | Long             | DBT              | CORP              | US        |     77000 | PA      | $80335.87     | 0.31%             | 2031-10-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| NAVIENT CORP                                   | Navient Corp                                                                    | CUSIP: 63938CAP3<br>LEI: 54930067J0ZNOEBRW338 | Long             | DBT              | CORP              | US        |     71000 | PA      | $79736.89     | 0.31%             | 2031-03-15      | Fixed         | 11.50%                | No            |                  2 | On Loan: No      |
| IRON MOUNTAIN INC                              | Iron Mountain Inc                                                               | CUSIP: 46284VAN1<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              |  | US        |    177000 | PA      | $167438.63    | 0.65%             | 2031-02-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| ARDONAGH FINCO LTD                             | Ardonagh Finco Ltd                                                              | CUSIP: 039853AA4<br>LEI: 254900D2T84O1K03BA28 | Long             | DBT              | CORP              | JE        |    203000 | PA      | $211646.51    | 0.82%             | 2031-02-15      | Fixed         | 7.75%                 | No            |                  2 | On Loan: No      |
| AZORRA FINANCE                                 | Azorra Finance Ltd                                                              | CUSIP: 05480AAB1<br>LEI: 254900MC1HXDAVUUP395 | Long             | DBT              | CORP              | KY        |     90000 | PA      | $91915.39     | 0.36%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MOSS CREEK RESOURCES HLD                       | Moss Creek Resources Holdings Inc                                               | CUSIP: 61965RAC9<br>LEI: 54930037SLMSPWKYIX36 | Long             | DBT              | CORP              | US        |     95000 | PA      | $92730.91     | 0.36%             | 2031-09-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| BURFORD CAPITAL GLBL FIN                       | Burford Capital Global Finance LLC                                              | CUSIP: 12116LAE9<br>LEI: 549300JVAOO67CSCH406 | Long             | DBT              | CORP              | US        |    110000 | PA      | $116352.89    | 0.45%             | 2031-07-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCT8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    176000 | PA      | $180812.62    | 0.70%             | 2031-03-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| BLOCK INC                                      | Block Inc                                                                       | CUSIP: 852234AP8<br>LEI: 549300OHIIUWSTIZME52 | Long             | DBT              | CORP              | US        |    145000 | PA      | $132924.97    | 0.52%             | 2031-06-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| EMRLD BOR / EMRLD CO-ISS                       | EMRLD Borrower LP / Emerald Co-Issuer Inc                                       | CUSIP: 26873CAB8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     71000 | PA      | $73165.63     | 0.28%             | 2031-07-15      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| STATION CASINOS LLC                            | Station Casinos LLC                                                             | CUSIP: 857691AH2<br>LEI: 5493004E7Q60TX54WL62 | Long             | DBT              | CORP              | US        |     83000 | PA      | $77676.15     | 0.30%             | 2031-12-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| UNISYS CORP                                    | Unisys Corp                                                                     | CUSIP: 909214BX5<br>LEI: 549300T21W22FIJJOW08 | Long             | DBT              | CORP              | US        |    115000 | PA      | $120799.90    | 0.47%             | 2031-01-15      | Fixed         | 10.63%                | No            |                  2 | On Loan: —       |
| CHURCHILL DOWNS INC                            | Churchill Downs Inc                                                             | CUSIP: 171484AJ7<br>LEI: 529900FODTBQC8MIS994 | Long             | DBT              | CORP              | US        |     93000 | PA      | $95028.39     | 0.37%             | 2031-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| MAGNERA CORP                                   | Magnera Corp                                                                    | CUSIP: 55939AAA5<br>LEI: 549300LDQLQBT38QDY28 | Long             | DBT              | CORP              | US        |    126000 | PA      | $118774.55    | 0.46%             | 2031-11-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| STENA INTERNATIONAL SA                         | Stena International SA                                                          | CUSIP: 85858EAD5<br>LEI: 213800A4LTGG4W55QP46 | Long             | DBT              | CORP              | LU        |    140000 | PA      | $142209.51    | 0.55%             | 2031-01-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| SERVICE CORP INTL                              | Service Corp International/US                                                   | CUSIP: 817565CG7<br>LEI: 549300RKVM2ME20JHZ15 | Long             | DBT              | CORP              | US        |    128000 | PA      | $118682.45    | 0.46%             | 2031-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| CHARLES RIVER LABORATORI                       | Charles River Laboratories International Inc                                    | CUSIP: 159864AJ6<br>LEI: 549300BSQ0R4UZ5KX287 | Long             | DBT              | CORP              | US        |     78000 | PA      | $71575.51     | 0.28%             | 2031-03-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| ROCKETMTGE CO-ISSUER INC                       | Rocket Mortgage LLC / Rocket Mortgage Co-Issuer Inc                             | CUSIP: 74841CAB7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    200000 | PA      | $184489.28    | 0.72%             | 2031-03-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| MCGRAW-HILL EDUCATION                          | McGraw-Hill Education Inc                                                       | CUSIP: 58064LAA2<br>LEI: 254900U6YJ9QZ4IQOR26 | Long             | DBT              | CORP              | US        |    107000 | PA      | $111210.28    | 0.43%             | 2031-09-01      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| JETBLUE AIRWAYS/LOYALTY                        | JetBlue Airways Corp / JetBlue Loyalty LP                                       | CUSIP: 476920AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | XX        |    317000 | PA      | $306586.49    | 1.19%             | 2031-09-20      | Fixed         | 9.88%                 | No            |                  2 | On Loan: No      |
| MURPHY OIL USA INC                             | Murphy Oil USA Inc                                                              | CUSIP: 626738AF5<br>LEI: N32S6DTR2ZZ5222WHV58 | Long             | DBT              | CORP              | US        |     83000 | PA      | $76243.08     | 0.30%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| STANDARD INDUSTRI INC/NY                       | Standard Industries Inc/NY                                                      | CUSIP: 853496AH0<br>LEI: 54930064UHXCIUWVI755 | Long             | DBT              | CORP              | US        |    180000 | PA      | $160851.92    | 0.62%             | 2031-01-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CLEVELAND-CLIFFS INC                           | Cleveland-Cliffs Inc                                                            | CUSIP: 185899AS0<br>LEI: 549300TM2WLI2BJMDD86 | Long             | DBT              | CORP              | US        |    138000 | PA      | $137937.07    | 0.54%             | 2031-09-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CONSOLIDATED ENERGY FIN                        | Consolidated Energy Finance SA                                                  | CUSIP: 20914UAH9<br>LEI: 549300PUNIS0USNSL750 | Long             | DBT              | CORP              | LU        |     95000 | PA      | $89292.26     | 0.35%             | 2031-02-15      | Fixed         | 12.00%                | No            |                  2 | On Loan: No      |
| NORTHERN OIL & GAS INC                         | Northern Oil & Gas Inc                                                          | CUSIP: 665530AB7<br>LEI: OKFF0PIZDDMNH4UCYE51 | Long             | DBT              | CORP              | US        |     76000 | PA      | $78199.16     | 0.30%             | 2031-06-15      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| LCM INVESTMENTS HOLDINGS                       | LCM Investments Holdings II LLC                                                 | CUSIP: 50190EAC8<br>LEI: 549300P5V78NNQTG4428 | Long             | DBT              | CORP              | US        |    140000 | PA      | $148021.41    | 0.57%             | 2031-08-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ENCINO ACQUISITION PARTN                       | Encino Acquisition Partners Holdings LLC                                        | CUSIP: 29254BAB3<br>LEI: 549300BUKUEKT2UE4T49 | Long             | DBT              | CORP              | US        |     68000 | PA      | $75130.48     | 0.29%             | 2031-05-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| STONEX GROUP INC                               | StoneX Group Inc                                                                | CUSIP: 861896AA6<br>LEI: 549300JUF07L8VF02M60 | Long             | DBT              | CORP              | US        |     89000 | PA      | $93690.60     | 0.36%             | 2031-03-01      | Fixed         | 7.88%                 | No            |                  2 | On Loan: No      |
| TRINET GROUP INC                               | TriNet Group Inc                                                                | CUSIP: 896288AC1<br>LEI: 5299003FJVBETSFKE990 | Long             | DBT              | CORP              | US        |     68000 | PA      | $70026.32     | 0.27%             | 2031-08-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| BALDWIN INSUR GRP/FIN                          | Baldwin Insurance Group Holdings LLC / Baldwin Insurance Group Holdings Finance | CUSIP: 05825XAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     98000 | PA      | $101165.19    | 0.39%             | 2031-05-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| RAVEN ACQUISITION HOLDIN                       | Raven Acquisition Holdings LLC                                                  | CUSIP: 75420NAA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    206000 | PA      | $208062.38    | 0.81%             | 2031-11-15      | Fixed         | 6.88%                 | No            |                  2 | On Loan: No      |
| GOODYEAR TIRE & RUBBER                         | Goodyear Tire & Rubber Co/The                                                   | CUSIP: 382550BR1<br>LEI: 5493002BI0S2ZQUY3437 | Long             | DBT              | CORP              | US        |     93000 | PA      | $88353.68     | 0.34%             | 2031-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CSC HOLDINGS LLC                               | CSC Holdings LLC                                                                | CUSIP: 126307BF3<br>LEI: 3HG2WD2W22M120IUNG49 | Long             | DBT              | CORP              | US        |    145000 | PA      | $95455.24     | 0.37%             | 2031-02-15      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| CLEAN HARBORS INC                              | Clean Harbors Inc                                                               | CUSIP: 184496AQ0<br>LEI: 5493000SJVZVZJKHJF48 | Long             | DBT              | CORP              | US        |     73000 | PA      | $74492.22     | 0.29%             | 2031-02-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                       | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    213000 | PA      | $218989.31    | 0.85%             | 2031-01-15      | Fixed         | 7.00%                 | No            |                  2 | On Loan: No      |
| PREMIER ENTERTAINMENT SU                       | Premier Entertainment Sub LLC / Premier Entertainment Finance Corp              | CUSIP: 74052HAB0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     79000 | PA      | $48798.29     | 0.19%             | 2031-09-01      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| CCO HLDGS LLC/CAP CORP                         | CCO Holdings LLC / CCO Holdings Capital Corp                                    | CUSIP: 1248EPCK7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    476000 | PA      | $434369.26    | 1.69%             | 2031-02-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| LAMAR MEDIA CORP                               | Lamar Media Corp                                                                | CUSIP: 513075BZ3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     86000 | PA      | $79115.99     | 0.31%             | 2031-01-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| SENSATA TECHNOLOGIES INC                       | Sensata Technologies Inc                                                        | CUSIP: 81728UAB0<br>LEI: 5493002MMDDCUNV7NY90 | Long             | DBT              | CORP              | US        |    115000 | PA      | $104698.16    | 0.41%             | 2031-02-15      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| BLACKROCK CASH FUNDS TREASURY SL AGENCY SHARES | BlackRock Cash Funds: Treasury, SL Agency Shares                                | CUSIP: 066922477<br>LEI: 5493008LW2651I1QB503 | Long             | STIV             | RF                | US        |    110000 | NS      | $110000.00    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| CERDIA FINANZ GMBH                             | Cerdia Finanz GmbH                                                              | CUSIP: 15679GAC6<br>LEI: 391200KURNDJSX9GX570 | Long             | DBT              | CORP              | DE        |    145000 | PA      | $151907.98    | 0.59%             | 2031-10-03      | Fixed         | 9.38%                 | No            |                  2 | On Loan: No      |
| SUBURBAN PROPANE PARTNRS                       | Suburban Propane Partners LP/Suburban Energy Finance Corp                       | CUSIP: 864486AL9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    108000 | PA      | $101447.56    | 0.39%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: —       |
| MERLIN ENTERTAINMENTS GR                       | Merlin Entertainments Group US Holdings Inc                                     | CUSIP: 59010UAA5<br>LEI: 549300HBQPPKS1187K54 | Long             | DBT              | CORP              | US        |     80000 | PA      | $69896.98     | 0.27%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| TRIVIUM PACKAGING FIN                          | Trivium Packaging Finance BV                                                    | CUSIP: 89686QAC0<br>LEI: 724500GMZWW3PVYET548 | Long             | DBT              | CORP              | NL        |    100000 | PA      | $104890.29    | 0.41%             | 2031-01-15      | Fixed         | 12.25%                | No            |                  2 | On Loan: No      |
| JANE STREET GRP/JSG FIN                        | Jane Street Group / JSG Finance Inc                                             | CUSIP: 47077WAC2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    221000 | PA      | $228319.80    | 0.89%             | 2031-04-30      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| SEALED AIR/SEALED AIR US                       | Sealed Air Corp/Sealed Air Corp US                                              | CUSIP: 812127AB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     67000 | PA      | $69631.89     | 0.27%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| ASHLAND INC                                    | Ashland Inc                                                                     | CUSIP: 04433LAA0<br>LEI: 529900E4L9R04SB8HB11 | Long             | DBT              | CORP              | US        |     72000 | PA      | $63286.70     | 0.25%             | 2031-09-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: —       |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                            | CUSIP: 682691AG5<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    123000 | PA      | $126977.50    | 0.49%             | 2031-11-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: No      |
| XPLR INFRAST OPERATING                         | XPLR Infrastructure Operating Partners LP                                       | CUSIP: 98380MAA3<br>LEI: 549300KJEC5IUVJWR786 | Long             | DBT              | CORP              | US        |    135000 | PA      | $141616.03    | 0.55%             | 2031-01-15      | Fixed         | 8.38%                 | No            |                  2 | On Loan: No      |
| LEVI STRAUSS & CO                              | Levi Strauss & Co                                                               | CUSIP: 52736RBJ0<br>LEI: MB0UERO0RDFKU8258G77 | Long             | DBT              | CORP              | US        |     78000 | PA      | $71417.94     | 0.28%             | 2031-03-01      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| OUTFRONT MEDIA CAP LLC/C                       | Outfront Media Capital LLC / Outfront Media Capital Corp                        | CUSIP: 69007TAG9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     77000 | PA      | $80842.17     | 0.31%             | 2031-02-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| SEAGATE DATA STORAGE TECHNOLOG                 | SEAGATE DATA STOR                                                               | CUSIP: 81180LAN5<br>LEI: N/A                  | Long             | DBT              | CORP              | SG        |     35000 | PA      | $30856.00     | 0.12%             | 2031-01-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: No      |
| ONEMAIN FINANCE CORP                           | OneMain Finance Corp                                                            | CUSIP: 682691AF7<br>LEI: 5493008I795YYBFWFU90 | Long             | DBT              | CORP              | US        |    112000 | PA      | $116762.71    | 0.45%             | 2031-05-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| WINDSTREAM SERVICES/ESCR                       | Windstream Services LLC / Windstream Escrow Finance Corp                        | CUSIP: 97381AAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    345000 | PA      | $361460.15    | 1.40%             | 2031-10-01      | Fixed         | 8.25%                 | No            |                  2 | On Loan: No      |
| ALLIANT HOLD / CO-ISSUER                       | Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer                  | CUSIP: 01883LAG8<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    164000 | PA      | $166543.60    | 0.65%             | 2031-10-01      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| LIGHT & WONDER INTL INC                        | Light & Wonder International Inc                                                | CUSIP: 531968AA3<br>LEI: RLTHESQ0RNFQJWPBJN60 | Long             | DBT              | CORP              | US        |     79000 | PA      | $82370.86     | 0.32%             | 2031-09-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| BOMBARDIER INC                                 | Bombardier Inc                                                                  | CUSIP: 097751CB5<br>LEI: W7L3VLU8EHQY34Z36697 | Long             | DBT              | CORP              | CA        |    121000 | PA      | $126338.10    | 0.49%             | 2031-07-01      | Fixed         | 7.25%                 | No            |                  2 | On Loan: —       |
| FORTESCUE TREASURY PTY L                       | Fortescue Treasury Pty Ltd                                                      | CUSIP: 30251GBC0<br>LEI: 549300EFD6S2NFE9D745 | Long             | DBT              | CORP              | AU        |    235000 | PA      | $220379.95    | 0.86%             | 2031-04-01      | Fixed         | 4.38%                 | No            |                  2 | On Loan: —       |
| SERVICE PROPERTIES TRUST                       | Service Properties Trust                                                        | CUSIP: 81761LAC6<br>LEI: 529900IS770AG1K9QG27 | Long             | DBT              |  | US        |    162000 | PA      | $172694.53    | 0.67%             | 2031-11-15      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| XPO INC                                        | XPO Inc                                                                         | CUSIP: 98379KAB8<br>LEI: 54930096DB9LCLPN7H13 | Long             | DBT              | CORP              | US        |     77000 | PA      | $79705.94     | 0.31%             | 2031-06-01      | Fixed         | 7.13%                 | No            |                  2 | On Loan: —       |
| NOVELIS CORP                                   | Novelis Corp                                                                    | CUSIP: 670001AH9<br>LEI: 549300G5F3W3B52WYL23 | Long             | DBT              | CORP              | US        |    118000 | PA      | $105978.46    | 0.41%             | 2031-08-15      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| ENDO FINANCE HOLDINGS                          | Endo Finance Holdings Inc                                                       | CUSIP: 29281RAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    160000 | PA      | $170252.40    | 0.66%             | 2031-04-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: No      |
| MPT OPER PARTNERSP/FINL                        | MPT Operating Partnership LP / MPT Finance Corp                                 | CUSIP: 55342UAM6<br>LEI: N/A                  | Long             | DBT              |  | US        |    207000 | PA      | $141422.34    | 0.55%             | 2031-03-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| BOYD GAMING CORP                               | Boyd Gaming Corp                                                                | CUSIP: 103304BV2<br>LEI: 254900787YGRYS2A1Z35 | Long             | DBT              | CORP              | US        |    147000 | PA      | $140046.69    | 0.54%             | 2031-06-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| FORTRESS INTERMEDIATE                          | Fortress Intermediate 3 Inc                                                     | CUSIP: 34966MAA0<br>LEI: 254900NLAZ3JQJW5JP75 | Long             | DBT              | CORP              | US        |    123000 | PA      | $129016.55    | 0.50%             | 2031-06-01      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| COREWEAVE INC                                  | CoreWeave Inc                                                                   | CUSIP: 21873SAC2<br>LEI: 984500511DP2B6186053 | Long             | DBT              | CORP              | US        |    100000 | PA      | $99824.25     | 0.39%             | 2031-02-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: No      |
| VFH PARENT / VALOR CO                          | VFH Parent LLC / Valor Co-Issuer Inc                                            | CUSIP: 91824YAA6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     83000 | PA      | $86365.86     | 0.34%             | 2031-06-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| CLUE OPCO LLC                                  | Clue Opco LLC                                                                   | CUSIP: 36267QAA2<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    120000 | PA      | $127250.85    | 0.49%             | 2031-10-15      | Fixed         | 9.50%                 | No            |                  2 | On Loan: —       |
| TRANSOCEAN INC                                 | Transocean Inc                                                                  | CUSIP: 893830BZ1<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |    133000 | PA      | $122391.71    | 0.48%             | 2031-05-15      | Fixed         | 8.50%                 | No            |                  2 | On Loan: —       |
| CARVANA CO                                     | Carvana Co                                                                      | CUSIP: 146869AM4<br>LEI: 5493003WEAK2PJ5WS063 | Long             | DBT              | CORP              | US        |    335519 | PA      | $398979.39    | 1.55%             | 2031-06-01      | Fixed         | 9.00%                 | No            |                  2 | On Loan: —       |
| RRD PARENT INC                                 | RRD Parent Inc                                                                  | CUSIP: 16208CAA7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    147100 | PA      | $260174.59    | 1.01%             | 2031-10-15      | Fixed         | 10.00%                | No            |                  2 | On Loan: No      |
| HOWDEN UK REFINANCE / US                       | Howden UK Refinance PLC / Howden UK Refinance 2 PLC / Howden US Refinance LLC   | CUSIP: 44287GAA4<br>LEI: N/A                  | Long             | DBT              | CORP              | GB        |    162000 | PA      | $167761.75    | 0.65%             | 2031-02-15      | Fixed         | 7.25%                 | No            |                  2 | On Loan: No      |
| MATCH GROUP HLD II LLC                         | Match Group Holdings II LLC                                                     | CUSIP: 57667JAA0<br>LEI: 5493003RFFE030RC9167 | Long             | DBT              | CORP              | US        |     83000 | PA      | $74265.13     | 0.29%             | 2031-10-01      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| AVIENT CORP                                    | Avient Corp                                                                     | CUSIP: 05368VAB2<br>LEI: SM8L9RZYIB34LNTWO040 | Long             | DBT              | CORP              | US        |     95000 | PA      | $95334.41     | 0.37%             | 2031-11-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| BOOST NEWCO BORROWER LLC                       | Boost Newco Borrower LLC                                                        | CUSIP: 36268NAA8<br>LEI: 254900S8RE1OL7TTCU64 | Long             | DBT              | CORP              | US        |    350000 | PA      | $370043.78    | 1.44%             | 2031-01-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                 | NRG Energy Inc                                                                  | CUSIP: 629377CR1<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |    166000 | PA      | $151945.36    | 0.59%             | 2031-02-15      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| GEO GROUP INC/THE                              | GEO Group Inc/The                                                               | CUSIP: 36162JAH9<br>LEI: 54930024XOXET7NQVZ63 | Long             | DBT              | CORP              | US        |    102000 | PA      | $112203.26    | 0.44%             | 2031-04-15      | Fixed         | 10.25%                | No            |                  2 | On Loan: No      |
| MANITOWOC COMPANY INC                          | Manitowoc Co Inc/The                                                            | CUSIP: 563571AN8<br>LEI: 2RTSLGQ89VMY18RHX631 | Long             | DBT              | CORP              | US        |     50000 | PA      | $53264.57     | 0.21%             | 2031-10-01      | Fixed         | 9.25%                 | No            |                  2 | On Loan: No      |
| CNX RESOURCES CORP                             | CNX Resources Corp                                                              | CUSIP: 12653CAK4<br>LEI: 549300JK3KH8PWM3B226 | Long             | DBT              | CORP              | US        |     83000 | PA      | $85731.48     | 0.33%             | 2031-01-15      | Fixed         | 7.38%                 | No            |                  2 | On Loan: No      |
| VENTURE GLOBAL LNG INC                         | Venture Global LNG Inc                                                          | CUSIP: 92332YAB7<br>LEI: 54930011XLBUWMQUC829 | Long             | DBT              | CORP              | US        |    362000 | PA      | $374205.83    | 1.45%             | 2031-06-01      | Fixed         | 8.38%                 | No            |                  2 | On Loan: —       |
| PENNYMAC FIN SVCS INC                          | PennyMac Financial Services Inc                                                 | CUSIP: 70932MAC1<br>LEI: 549300W1D516HBDEU871 | Long             | DBT              | CORP              | US        |     73000 | PA      | $71350.34     | 0.28%             | 2031-09-15      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Transocean Inc                                 | Transocean Inc                                                                  | CUSIP: 893830AF6<br>LEI: DOL4HJ22ADYSIWES4H94 | Long             | DBT              | CORP              | KY        |     71000 | PA      | $61311.59     | 0.24%             | 2031-04-15      | Fixed         | 7.50%                 | No            |                  2 | On Loan: —       |
| CONSTELLATION INSURC INC                       | Constellation Insurance Inc                                                     | CUSIP: 67740QAG1<br>LEI: 549300K609B872PZT291 | Long             | DBT              | CORP              | US        |     43000 | PA      | $41334.59     | 0.16%             | 2031-05-01      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| JEFFERIES FIN LLC / JFIN                       | Jefferies Finance LLC / JFIN Co-Issuer Corp                                     | CUSIP: 47232MAG7<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     75000 | PA      | $74671.35     | 0.29%             | 2031-10-15      | Fixed         | 6.63%                 | No            |                  2 | On Loan: No      |
| ATKORE INC                                     | Atkore Inc                                                                      | CUSIP: 047649AA6<br>LEI: 52990002TI38AM4RPV48 | Long             | DBT              | CORP              | US        |     65000 | PA      | $60022.38     | 0.23%             | 2031-06-01      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| WHIRLPOOL CORP                                 | Whirlpool Corp                                                                  | CUSIP: 963320AY2<br>LEI: WHENKOULSSK7WUM60H03 | Long             | DBT              | CORP              | US        |     50000 | PA      | $41855.52     | 0.16%             | 2031-05-15      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| CARNIVAL CORP                                  | Carnival Corp                                                                   | CUSIP: 143658BZ4<br>LEI: F1OF2ZSX47CR0BCWA982 | Long             | DBT              | CORP              | PA        |    160000 | PA      | $162377.83    | 0.63%             | 2031-06-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| WYNN RESORTS FINANCE LLC                       | Wynn Resorts Finance LLC / Wynn Resorts Capital Corp                            | CUSIP: 983133AC3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    159000 | PA      | $169083.63    | 0.66%             | 2031-02-15      | Fixed         | 7.13%                 | No            |                  2 | On Loan: —       |
| CROCS INC                                      | Crocs Inc                                                                       | CUSIP: 227046AB5<br>LEI: 549300B0J6YCXD63OG72 | Long             | DBT              | CORP              | US        |     51000 | PA      | $46084.42     | 0.18%             | 2031-08-15      | Fixed         | 4.13%                 | No            |                  2 | On Loan: —       |
| PIKE CORP                                      | Pike Corp                                                                       | CUSIP: 721283AB5<br>LEI: 549300P4EKEP6HK0NC58 | Long             | DBT              | CORP              | US        |     66000 | PA      | $71078.83     | 0.28%             | 2031-01-31      | Fixed         | 8.63%                 | No            |                  2 | On Loan: No      |
| CIVITAS RESOURCES INC                          | Civitas Resources Inc                                                           | CUSIP: 17888HAB9<br>LEI: IIVIHPH28S64K95M2381 | Long             | DBT              | CORP              | US        |    212000 | PA      | $214634.49    | 0.83%             | 2031-07-01      | Fixed         | 8.75%                 | No            |                  2 | On Loan: No      |
| SUNRISE FINCO I BV                             | Sunrise FinCo I BV                                                              | CUSIP: 90320BAA7<br>LEI: 213800MNFBDEQRS6HZ22 | Long             | DBT              | CORP              | NL        |    195000 | PA      | $183904.79    | 0.71%             | 2031-07-15      | 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